A profit of £84,18332 in Java and Interest earned on Investments in Shanghai more than sufficient to pay for all the Shanghai expenditure was reported by the chairman, Mr. A. J. Welch, at the twenty-fifth annual general meeting of shareholders of the Kroewoek Java Plantations, Td. fon Friday. The meeting was held at the offices of Messrs. J. A. Wattle Ca, Lid, secretaries and gener managers for the company.
The chairman was supported by Mr. RG. MeDonald, and Me. Kadoorie, directors, and Mr. C. F. Shackleton. secretary. There were 526.420 shares represented.
The chairman's report was as fol-Tows:—The accounts for the year lended December 31, 1934. reflect the Improved conditions of the industry since the working of the Dutch com~ pany shows a profit of £84,163.2 as compared with a profit of only £11. DIG77 Jast_ year. This improved profit was helped by the fact that the output of rubber in 1994 ws some 20,000 Ibs. greater but was main= ly due to the average net price realized for our rubber being 17.78 muller cents per pound ax_ against 5.2 guilder cents in 1993. The total estate expenditure on revenue pe~ count was £98,711.65. as compared with £91,388.10 for the smaller crop "The working account of Baiah Bstate shows a small loss of £3,387.90 which makes the met amount transferred to the profit and less account of the Dutch company 180,708.42.
'From the profit and loss. account you will see that a very substantial Tefund of taxes already paid amounting to £20488.80 was secured and Our best thanks are due to the Java agents for their good work in' this direction.
Coffee unfortunately is still realiz-Ing less than the expenditure necessary to produce it, if the estimated ereentage of general expenditure applicable to this culture is added to the actual out of pocket expenses for harvesting the crop. There are at present no signs of any improvement in the selling price but T hope that the situation may have improved somewhat before the next crop comes to be marketed.
Capital expenditure during the year consisted of £6,190.18 spent on the immature areas on Bajah Estate end small sums totalling some £842 spent on buildings and furniture on Kroewoek Estate.
As regards the Shanghai company the interest on investments was more than sufficient to pay for fall the Shanghai expenditure, and after crediting the agency fee and dividend received from the Dutch company the balance of profit avail-fable for distribution, after deducting the. interim dividend of $88,000 paid on September 19, 1984, is $78,588.45, which your directors' recommend be dealt with as set out in their report. If these suggest are agreed to the company will start the mew year with a surplus of
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