Continuing with his questions Mr. Soyka then stated "I note that the average sale price of rubber for the period was 574d nett. According to the "Financial Times" the average sale pee fin London for the sear If you allow the average difference between Singapore and London prices of rubber per pound of ed, our sales average 6.1150. per pound delivered in London, or some figure very close (o it. This means that our sales have averaged about Tid, "Tess than we might have ex- S pected. Will you please tell the Meeting when these sales. were effected and to whom they were made?
The Chairman—Those figures are for frst "quality only. Twenty-per cent. are lower grades.
Mr. Soyka—How is it that some companies like you sell at higher prices than other companies?
Replying Mr. Welch pointed out that it all. depended on how much Tow grades "they possessed, "To whom was the rubber sold," quired Mr. Soyka. ennnot tell you that, It was all sold open market." stated the Chairman, "They sell to the persons offering the highest prices," he added, following another question by Mr. Soyk Mr. Soyka then protested against the agency agreements, stating that they had become a burden to the shareholder. "We have our money in the company and we must get some' explanation." he continued. There was no necessity. for the five year agreement. with Messrs, Waltie & Cow Lid and if a were' insisted upon by the Shareholders a weapon was left the hands of the agents and seeretar= es who could insist upon compen sation, The Chairman—This has nothing to do with the accounts, Mr. Soyka—1 speak" when the wea right to Toterests 6 the compass are concerned.
Text read from the printed page and cleaned; old type leaves the occasional error.