The fourth annual general meeting shareholders of the Rubber Trust, Lid, was held at the offices. of Mestre. J. A. Wattie & Ca, Ltd, secretaries and general managers, on Tuesdsy "ce. 4). Mr. L. E. Canning was in the chairs supported by Sir Elly Kadoorie, Mr. R. N. Swann, and Mr. C. F, Shackleton, directors, and Mr. D. E. Levy representing Messrs.
Waltie & Ca, Lid. 'The num. ber of shares represented at the, meeting was 260,978 Alter the notice convening the meeting and the auditors' report were read by Mr. D. E. Levy, the Chairman addressed those present as. follows As I mentioned in my speech last} year one of your Straits estates commenced tapping in October 1933 and "he crop for the year ended August 31, 1924 was 1.018591 Ib, which Fealized a profit of St $01,423.96 equivalent to Shanghai "$129,244.38, which has been taken into' the profit and loss account for the year, AD. proximately 410 acres of the Java property was brought into tapping end for the eight months ended August $1 the crop was 80,100 Ibs, Jwhich resulted in a profit of Guilders 4.188, which has been carried forward the books of the Java Company and not brought into the Shanghai accounts, In September this year fan adjoining area of some 725 acres,
Fubber some seven years ago, was of which 625 had been planted with purchased by the Java Company and about 350 acres are reported to be in fair condition, Until a survey is made it is impossible to give more than approximate figures, but it is hoped to receive a satisfactory assessment for standard production, [The cost of this extension was Guild fers 20,000, and in view of the un: fortunate damage sustained by fire and flood on the original Java proerty, the purchase "will, I hops, occurred and I think the respective managers should be congratulated the results of their efforts, "Turning to the accounts, during the year a portion of the investments teal rubber. companies fas been realized and the present. book cost of the balance is $109811.84 against a market value of $349,00050" on September 30 last, whilst there 1s also a. reserve of $50,708.13. against depreciation.
'Capital expenditure on the Malay~ Jan Estates for the year was. Tin, 19,792.88 and in Java'. 8832141, the loiter figure including the cost of the new estate purchased during" the year.
As regards the loans to local. rubber companies the greater part has already been repaid and the balane3 will most probably be received the course Of a few months, "The balance to the credit of Prest sind Loss Account is $144,010.79 and it he "Board's recommendations are approved there will bea. balance. 13 carry forward of $2,168, Before putting the sormal Resolu. tions to the Meeting, 1 shall. be pleased to the best of my Ability fnawer any questions you may: Wish to. ask, 'There being no questions asked the following resolutions were put' 10 the meeting and passed:—'That the directory' Report and state~ rent of accounts as presented be adept (ed and passed. Proposed by Be. Led Canning, seconded by Sir Elly Hedacrle 'That 4 dividend of twenty cave plat conte per share be paid and' the bafaniee tothe profit and loss account be dealt with "at recommended inthe' report. Proposed by att LO, Canning, od by bir. M, Swann, Bain be, reflected, wngy seconded By Mz, company. "Propos That ihe Shackleton as 'a-director Nov.28 "Dee. 6
Proposed by Mr. L, E. Canning, seconded to-mouth basis from the locally stocked domestic, dificult at the moment to predict one staple, While it 1s way or the other as fo whit develooents the near future will evolve
Text read from the printed page and cleaned; old type leaves the occasional error.