To the Editor of the "Nonri-Cuma Dany News"
Sux—Believing that there is quite large number of people waiting for news of the possible formation of shareholders' "protection association and in order' to find out once fand for all if Shanghai can shake Off its apathy and support a move which, if successful must improve incomes, and provided rubber does not (drop below 64 should put shares over last year's levels, T am waiting this letter.
The Agures which I quote 1 believe! ere substantially correct and I am [Prepared to show them to any sup-Porter of the movement or to have them printed and to sell them to) anyone interested in local rubber companies for a small sum which would go to help Anancing the preliminary expenses of the suggested T have come to the conclusion that] the best way to start the above asgoclation is to inform all. shareholders in these companies what is Lappening now, and what has been /happening for many years, and if the support received warrants, enlarging the activities of the association. cover all companies listed on che Stock Exchange.
That a Society of this kind can te} formed and conducted without ex-Pense is impossible. T have been Fromised a great deal of help free, Dut a secretary and part-time typist will be essential and T will endeavour to do the preliminary work for 6 months at a not greater cost than }$$.000. The response during the next few weeks will show whether "the work done up to date is to bear fruit, and if s0 I have no doubt that funds to cover this amount will be forthcoming. The greater. the support the lesser will be the individual cost. I should like to point out that this effort on behalf of Shanghai shareholders be—by their own spathy—rendered abortive, it is very unlikely that such an attempt will be made again for many years to come.
I do not wish for proxies at this [juncture but in order to ascertain if this Association is wanted in Shang-hal T must ask all those interested te Jet me have as soon as possible Jon unitemised list of shares for which they would be prepared to furnish [proxies if and when required. That these lists would remain unchanged is naturally impossible and understood, but they will furnish me with ar idea of the amount of support ]which is forthcoming.
However small 2 shareholder may behisor her support will be definite-needed to make this association success. "These lists will of! course be held in the strictest con-'Agence.
That the formation of an associa tion of this sort be viewed with suspicion or antagonism by company managers should be impossible pro-
Text read from the printed page and cleaned; old type leaves the occasional error.