In the matter of cost of production it was only to be expected that, view of the lower crops harvested, this would be higher and our average "this year works out at 1842 Straits cents per 1b, compared with 1727 per Ib, in 1037, There is also 8 considerable reduction in the price realized, the average net price, for the 693,016 4b, sold, being 2255 cents against 30.77 for 1,048,128 Ib. sold the previous year, You will see in the Report details of the Provisional Assessment for each Estate for 1939. 'These vary little from those of 1938, but the variation is, I fam glad to say, on the right' side. Sitiawan is assessed at the previous figure, while both Alexandra and Sungei Nibong and Lumut are granted small Increases. The whole Estate receives a Provisional Assessment of The Accounts Turning to the Accounts, you will see that the profit for the year, after providing for the expendittire on the replanting I have already referred 10, amounts to $49,327.90. It is, however, Proposed to meet part of this expen diture by a transfer to Profit and Loss Account of $25,000 from Replanting and Cultivation Reserve which was created in former years for this pur ose. This, together with the amount of $13,862.28 carried forward {rom last year, makes a total of $88,190.18 for appropriation.
'The Directors recommend the payment of a dividend of 12 cents per share which will require $56,180.44 and to write off Buildings and Furniture, Plant and Machinery, Wells and Water Supply, Rubber Factory' and Stores an amount totalling $16.225.03, details of which are in the Report. If you approve these appropriations It will leave an amount of $13,784.71 to be carried forward to the next count.
In conclusion 1 wish to express the Board's appreciation of the good work done by the Estate Manager and stof! and to thank Mr. Pinching, our Visiting Agent, and our Straits' Agents for their assistance and advice. seconded by Bie. the Rey iret and' Accounts' for the year nied Becember ST preset Beiseegpieae Tu TOM Presented promoted.' by Mr. W. © Aellor and har "SirnsW, Actor' we fevelected a Director: of tke Company.
Proposed Sfsate Lowe, Blighin & Matthews be Repah Rubber Tapioca Estates Shanghai, Mar. 25, The annual meeting of the Repah Rubber & Tapioca Estates Lid., was held yesterday at 49 Szechuen Road, Mr. A. J. Welch, chairman, presided, supported by Messrx R. N. Swann and L. Kadoorie, <lirectors, and Mr. W. A. Welch representing Messrs. J. A. Watlie & Ca.. Lid. Secretaries and [General Manager. Shares present and represented totalled 740,050, The chairman In his speech 531 'The accounts now' before you show, Tam sorry to say, a much smaller profit than was the ease last year, the profit for the period being Ch.si2.007.20 as compared with The main factors that contributed towards this result were firstly: that the net proceeds received from the sales of rubber were G03 pence per das, compared with 846 pence pound last year and secondly the of Rubber was 192.200" Ibs.
the estate expenditure reventic account was on the other head very nearly a half penny per pound higher.
Text read from the printed page and cleaned; old type leaves the occasional error.