A profit of 90.990.14 guilders on the year's working, compared with a ess of 12,828.65 fullders for the previous year, of the Dutch com-any, and a profit of $17,273.90 the year's working of the Shanghai company.was the ort submitted to Mr. A. J. Welch, chairman of the The market shed and the adjoining garage were destroyed by fre early the year. The value of the buildings destroyed was fully covered by. Insurance but in replacing them 2 better type of building, constructed of bricks with iron roots, was erected the extra cost above the insured value being £1,188.75.
On Kali Padang Esiate the gardens! are reported to be in good order and. area are at progress, the Coffee bushes in the interplanted
'The attack of Oidium mildew' was severe here also but damage to the frees was prevented by Sulphur Dusting.
The supply of labour was adequate throughout the year and, apart from certain amount of fever, the health was satisfactory.
Buildings and machinery were given the necessary upkeep and are Feported to be in reasonably good, The incidence of restriction and the improved prices brought about thereby have enabled us to give the estates thorough clean up and the gardens are now in a satisfactory condition.
The superintendent, the assistants the visiting agent and the agents in Java have continued their endeavours to run the Estates as economically a5 possible compatible with efficiency and our best thanks are due to all of them for the whole-hearted and Successful manner in which they have collaborated towards this end.
'There being no questions asked the' following resolutions were put to the passed:
'That the directors' report and statement of accounts for" the year. ended adopted snd assed' proposca'ty Str.
pied a pre and to the agents in Penang for the change now prevailing reduces Tis, carried out their duties, ing Special Resolution will therefore I should also like to record our be submitted to Shareholders at an deep regret for the death of Mr.
Extraordinary Meeting to be duly Vithelm Meyer who was a director convened:—in the Company for many years.
"That the Capital of the Company 'There being no questions the fol. be reduced from £50,000 divided into lowing resolutions were put to the 500,00 shares of 'Two Shillings each meeting and carried unanimously:—'Tis 378,000 divided into 500,000 shares 'That the Directors' Report and State-of, Tis, 028 each, "and that such, ment of Accounts for the year ended eduction be effected by reducing the, December si, 1594, 'e Rominal amount of all shares from Two shillings each to Tls. 078 each." The effect of this Resolution is to "That the appointment of Mr. A. W. regularize our Capital; it will make Burkill as a director be confirmed, pro-no change in the Balance Sheet oF poted by Mr, C. F. Shackleton, seconded Our Assets; our shares have always Mr. J. A Turer, "That the appointment of Mr. been taken on the market at Seventys 'Turner as a director be confirmed: A:|five candareens, you will find this re; stated on the share scrip, and this has been the practice ever since the Company was reconstructed. In short, the change to be effected is a legal Mr'. F. Shackleton, seconded by. Mr. change and not an actual one.
There were no questions, and the That. Messrs, Lowe, Bingham & Matthews be re-elected auditors of the com following. Resolutions were to any: proposed by Mr. i. Kadoorie, Seconded by Bir. J. A. Turner, {he Meeting and carried unanimous-That the report and accounts for the year ended "December 31: 1938 CONSOLIDATED RUBBER fred be sceepied: renesed by BA,
Text read from the printed page and cleaned; old type leaves the occasional error.