The net profit, after providing for the above taxation and bonus to the estate staffs, which is shown in the accounts, was equivalent, at the rote of exchange ruling when these accounts were made up, to approximately Ch.$1,109,640.21 or say. Eh $2.24 per share out of which your directors are proposing that a total of Ch.$1.50 per share shall be distributed by way of dividends for the year 1937.
This may seem to some of yow be somewhat on the conservative but I must point out to you the estates owned by this Comin common with those owned of the other Companies in faced with a programme dual replacement of Coolie line:
and other buildings which, for one reason or another, no longer accord with the requirements of the Government Inspectors, Machinery is also, in some cases, now obsolete end vis being replaced Wy modern and more economical units which should result reduction of the cost of production,
Text read from the printed page and cleaned; old type leaves the occasional error.