And now, gentlemen, we come to the question of the profit and loss account, the recommendation of your Bourd "ig to pay 4, dividend shareholders of five Chinese stand-Qrd dollar cents per share, As have already mentioned and as, yor will-see from the accounts we have made a heft profit of Ts. 17,111.85. This clears the deficit brought' in at, the, Bozinning of our financial year of Tls. 13,820.95 and lee surplus of Tls. 3,200.00. In view of our financial position and the fact that shareholders have been so lon} once more on to a. stal sis will be possible for your rectors to consider the payment of a small dividend, 'AS regards planting matters change has taken place in the Planted area during the year. 1 Whole area is under a cover of either fine grass or of some nitrogeneous green cover plant, which help to augment the fertility of the soil.
The young gardens covering an area of 470 nores, planted gradually from 1925 onwards, are reported to be making good progress and to represent fair average growth for the district. Thirty-four acres of this area are already marked for tapping but will not be taken in hand for another year or 80 unless something unforeseen happens to make it desirable labour was sufiing the year. and [am pleased to say that the health of the coolies left nothing to be desired.
Neither pests nor diseases gave without Yeturn on their investment. any trouble during the year and aut f|the only trees removed from the fo make use of it" and' feel quite Justified in so doing, By transfer-ug Me 0.6t0fran thie Fund Reave'n balance to be cattied. f0%- saving the dividend suggest
want oh Tis, 296.81 for the current, year Gentlemen, this ie all 1 can usefully tell You of the position of the company and ill now formally pro: ore the Tesolution thet the report accounts for the year ending september 30, 1035, Ye adopted and, passed, The retolution tx seconded by Mr.
Hunter but before putting it the meeting I. shall be pleased lane wer ant questions soa may: wich tovask to the best of nly ability gardens were the thousand or lat were obviously of no further Value to the estate. The resultant wood being used for fuel in the smoke baure as and when required.
'All buildings are reported to be in a good state of repair and the new Sheeting Battery is working ficiently and has materially re= duced' the cost of manufacture.
In conclusion, gentlemen, 1 may ly that in spite of the rigid economy that has been exercised the condition of the estate has not been lowed to relrogress and that tapping system in vogue is sith that TE is possible to" produce ge output should such at any time be called for.
The following resolutions were passed:
The Resolutions lowing Resolutions were then These being no questions, the fol-
That " the report and Statement. of accounts for the year fended "September" 80, 1939," 8 Proposed by Mr. Lo E. Canning. resented. be accepted and. passed.
seconded by Bir. T. Hunter.
"That a dividend. of five' 'Chine standard' dollar cents per' share on the issued share capital' of the company. be declared and paid to the shareholders on the Register on December 19, 1883, proposed by Br.
'That the directors' report and stateent of accounts for the year, ended Seth. Sertember 1283, as. amended, be opted ad that the directors' retame mendations reyerding the. claposal. of the balance of Profit snd Lows Accounts Ibe approved of and passed.—Propesed by Me Ag. Waleh, end. seconded by} Mr. lo E Caaning.
pat Bir. An de Welch 9 director ofthe. com:
Me Ly B. Canning, 3 jar. D. E, Levy, te "That Messrs. Thomson & Company be re-elected auditors to the company for the ensuing year—Propesed bs Mr. DE. Levy, and seconded by Mr. E. B.
Text read from the printed page and cleaned; old type leaves the occasional error.