'Your Directors waived their fees for the second half 6f the year and have decided to accept no more fees: until such time as the reductions in staff salaries are reinstated. 'The' Agents have offered to accept a 10 per cent out in their fees, 1 would mention in this connection that out of their fees the Agents pay the salaries of the accountant and the all be reflected in the current year's accounts and I am sure shareholders will appreciate the spirit in, which these sacrifices have been made.
Before closing I would like to pay tribute to the loyal services rendered by the staff during & most if-cult year. The visiting of your properties when fighting was taking place in Hongkew and/or Yangtszepoo was fraught with considerable Ganger, but there were few days when "those properties were not visited by some member of the staff. T hope it will not be too far distant} when the accounts of the Company, wil justify the Board in expressing their appreciation of the staffs' services, in a more tangible form.
The following resolutions "were passed unanimously 'That the Report and ts a8 bree ited. giving effect te tres 'Of Reserves and' the, Revalution, of Sake ae Rte A fw homo, arse, ad, Nie ¥e"Pu Chine
Davies; seconded by Br. M. Reader the Compan crater asia TGFhat the appointment of Sic Robert Ringy Me Re Davey, Reatice and Sir Stadia as 138 Corainy be contre Seconded be it.
Bar, Ee J, Davies; Shai-Sumatra Estates Shanghai, June 14.
An extraordinary general meeting the Shanghai-Sumatra Rubber Estates Lid. was held at the offices of the general agents, Messrs. George Maatschappij to compound the present all royalties was accepted, Mr. W. R. MeBain presided and he was supported by Mr. A. J. Welch, and Mr. H, Kadoorie, The total shares represented totalled 30,172, his speech the chairman said: This meeting of the shareholders hes been convened to consider, and If Prproved, to accept an offer received from the Batastsche Petroleum Maalschapplj in connection with the elf loyalties on your Tandjong Bringin concession," Before proposing the resolution, I will take the opportunity of giving you briefly a history of the negotiations connected with this area. "In the year 1925 an agreement was concluded with the BP.M. whereby the concession was transferred to them on the same terms
Text read from the printed page and cleaned; old type leaves the occasional error.