The annual meeting of sharehold-Jers of the Padang Rubber Company was held en Monday at the offices jot the general managers, Messrs. A. jR. 'Burkill & Sons, those present fneluding Mes C. R. Burkill (chairman), Messrs." Chun Bing him Jand W. B. O. Middleton (directors) jand Mr. C. J. Smith (secretary) the total number' of shares represented Jbeing $5,550.
The chairman spoke as follows:
The producing arca has been in: creased by the addition of 8Y% acres fof replanted rubber, and at the mo ment. work is being done on approximately a further eight acres: Of vacant patches on the Estate.
As you will note from the report, the realing of the estate during the period of depression has considera:
benefitted the trees, and the out. ut for the year under review. was: 422,211 Mb. as compared with 356,772 Th. for the year ended April 30, 1981, the last period when tapping. took place. The yield per acre per: annum was $89 ib. over the whole producing area, but over the actual rea tapped, this works out at 637.8) Ib, Ditheully was experienced remaining a good tapping force, and Fates of pay had to be advanced from time to time with the rise in prices.
The output for the current year is governed by the restriction scheme how in force and it is impossible estimate what the output or cost of production are likely to be. We have Just been advised by our agents in Penang that the estate has been ranted a provisional quota for June:
24.50 1b, which Is below the normal production of the estate and a protest is being made against this allowance, especially as for the year under review the average monthly output was 33,330 Ib.
The general condition of the estate reported to be entirely satisfac tory, and prior to the commencement fof tapping, a new sheeting battery. was Jostalied and four aluminum coagulating tanks were purchased tv! effect a saving in the cost of manufacture and to turn out a belter grade of sheet. The estate was visited periodically by our technical adviser, Mr. H. C. Pinching, whos? reports have been entirely satis factory and our thanks are due to him, the estate manager and staff and Straits Agents for their good. care of our properties throughout the: year.
Turning to the accounts: owing to] the reduction in the cost of produc tion from 483d. per Ib. in 1931 to 2934. during the year under review, the average nett price realized being '350d. and 3.714. per Ib. respectively, the profit for the year amounted to $33,5%953. This added to the amount of $26,737.26 (Tls. 19,117.14) brought forward from previous year, makes total at credit of Proft and Loss account of $60,307.79, and the direc: tors are pleased to be able to re commend the payment of a dividend of five standard dollar cents per share, absorbing $25,000. They als> recommend. placing $1503497 General Reserve, bringing this ae count up to $90,000, writing off various essels $3,895.41 and carrying forward $16,377.41.
There being no questions, the fol lowing resolutions were then put 10 the meeting and passed unanimous.
"That the report and accounts for the year ended April 30, 1894, as presented, Bey accepted, Proposed by Mr. turki and seconded by Mr. Chun Bing-him.
That the following recommendation as the appropriation of the Balance at
Text read from the printed page and cleaned; old type leaves the occasional error.