The, sixth ordinary eneral_ meet ing of the Shenghol-Sumatta Rubber Extated, Ltd, was held in the ofice of Messrs. Geore McBain (general agents) 1 The Bund, at 1120 am. on. Friday. Mr. W. R. MeRain Chairman) was supported by Messrs AI. Welch. H. Kadoorie (directors) and W. A. Turnbull (secretary) [Shares represented were 31,167.
The chairman said:
Referring fo the accounts you wit! observe that they have been presented you this year in Chinese national dollars instead of in Shanehal trots fas formerly, owing to the abolition fof the latter currency by the Chi-hose Nations! Government.
'The loss for the financial year ended October 31. 1933, including' the sum of $2091.69 transferred from Rubber Working Account, amounts to $3,744.01, which sum added to the balance of '$112,759.00. makes a total of $116,503.10 at debit of this account, T will later propose a elution recommending the transfer of that amount from General Reserve Account to credit of Profit and Loss Account, thus starting our present financial year without a debt balance to our Profit and Loss Account.
The entire crop was sold in Sumatra, and realized an average You will notice that the acreage of rubber in bearing has been creased by 19 acres in consequence of that acreage of immature rubber having been taken into the tapping area during the year. In the mature area Tamaram and Tandjong Bringin Division, covering.2378 acres, general' condition of the trees can be considered as satisfactory but owing to the necessity of conserving our funds in the past, the areas now require systematic cleaning and culvation, 'Our Visiting Agent reports on his Fast visit this work' was carried out to his satisfaction. the dyke and good repair; matter of fact during the lean' years reasonable sum was spent in the upkeep of our estate, and now we are reaping the benefit by not having to make any considerable capital expenditure "It is estimated that the crop for 1083/34 will amount to 750,000 Ib. of dry rubber, costing 9.5 guilder cents or at parity slightly under 2d. per 1b, to produce, With regard to the labour force fon the estate during the year, the situation has mot been an easy' one, number of estates had state: ping again, and were naturally engaging labour; meanwhile, owing to the lean times numbers of urier ployed labourers have been repay tuated The following resolutions were That the report and accounts sented be. passed. "Proposed W.. MeBain, and seconded by Mr. A: 3. Waren:
That the amount of $116,80810 be transferred from General Reserve the credit of Proft and Loss Account, Proposed by Mr. W. KR. MBain, and seconded by Mr. A. J. Welch, That Mr. W. K. McBain we're-elected director of the company. Proposed by Mr. H. Kadoorie, and seconded by Me. E. B. MeBaln 'That Messrs. Lowe, Bingham & Mate cone Proposed by Mr. E. B. thews be re-elected' auditors. for, the
McBain, and' seconded "by Me. W. A. Turnbull.
Text read from the printed page and cleaned; old type leaves the occasional error.