From the report in your hands you will note 364 acres which were included in the non-producing area last year, have during the year under Feview been taken into the producing area, although not actually tapped.
consequence, expenditure previously charged to development account now being charged against revenue and this accounts for an increase in expenditure on Suporintendence and General charges of $227449 and on upkeep of producing area The above Hems account for S.$18, 402.74 of the increase, and the balance of 8.$3,805.50 is made up by necessary expenditure on upkeep of buildings, health, sanitation, ote.
It will no doubt be of interest to shareholders to know that labour costs for the year under review have me creased by over 10 per cent, the average per labourer per day during 1034 being 34.12 cents and 1035 38.43
The profit for the year amounted to $25,000.34, which, with the carry forward from last year, leaves a balance available for distribution of $0,779.64, and I shall later propose a resolution pay a dividend of 5 cents per share, absorbing $17,684.90, writing off various assais, $0,100.25, placing to general reserve $1,089.92 and carrying forward $5,01047, The general condition of the estate is holy favourably reported upon by our technical adviser, Mr. H, C. Pin= ching, and about July of this year when wintering has completely fin-Ished, it is proposed to take into tapping the 364 acres of the 1028 plantings.
Text read from the printed page and cleaned; old type leaves the occasional error.