The standard production for 1938] flotted to the estate is 1,375,900 1b. Doing a decrease of 263,407 1b, over that for 1937, The Straits agents are now occupied in investigating whe~ ther an appeal against this assessment is likely to be successful oF not, There is an item on the liability: side of the balance sheet that perhaps T should enlarge upon and that is sundry creditors, $78,190.17, This ap~ pears at first glance to be a very Jorge amount but it is capable of very simple explanation, Of this sum $40,405.70 represents the usual Habilities on the estate at the end of any given month, including the proportion of the quit rent for the eleven months February to December 1938 amounting to $16,414.77. The only other large item included under this be Is the bonus to the estate mani amounting to $28,379.47.
Financially, the company is in, strong position and on January 31, 1936 the liquid assets exceeded th cash Habilities by $253,474.48. Capital expenditure during the y amounted to $20,672.04 which was} utilized as follows '$23,013.08 were expended on re~ planting on area of 28 acres and on preparing a further area of 81 acres! for replanting, 84142 represents the cost of, 3 Latex tanks, refrigerators and inset lavatory basins for the various bungalows, and $934.21 were spent on extending the transmission of the water supply.
"General Charges"
'A shareholder has written in ask ing for particulars of the items that comprise general charges and in reply I may inform him and you that general charges covers 17 sub-readings... The net increase in penditure this year under the heading of gneval charges as compared with last year is Straits $5,164.90 which ig mainly due to increases under the following subheadings:—Contingencies, St, $309.09, which was almost entirely attributable to the Corona ion celebrations which had to cater for a labour force of 610 souls and) their' dependents.
Recruiting and assessment cost an extra St, $2,002.52 owing to the employment of a larger number of coolles in order to cope with the infevease output. The expenditure on the up-keep of buildings was greater by St. $2,107.64 owing to the reroofing of some of the coolie lines and the reconditioning of two of the bungalows.
Wells and water supply cost extra St$602.55 owing to the extension of the water service to the two bungalows that were re condi tioned. The increases or decreases under other headings were negligible Planting Matters As regards planting matters the only change in the planted area during the year, was that 28 acres that were cut out last financial year were replanted with specially "selected seedlings, which are reported to be auaking very satisfactory progress. A further area of 81 acres was cut out and prepared for replanting when the proper season to do so arrived.
An average area of 2,626 acres was tapped daily "throughout the year from which a yield of 510 Ib. per here per annum was obtained. " The tapping syste.a in vogue continues on a rotational basis whereby two-thirds of the area is always in tapping whilst the year but the average daily rate x, bought from the actual manufactur-usually known as the "gold scare" of pay was 4731 cents as against ers, thereby eliminating all jobbers in the spring, Then in August fol-39,18 cents the previous year. middlemen's profits.
Towed the invasion of China by The expenditure under the heading This comparatively new furniture Japan, You can readily imagine how fospltal and Medical" was greater section of our business was doing a Yhis_ war disorganized the trade of bby §t$2,199.60 which was entirely due
Text read from the printed page and cleaned; old type leaves the occasional error.