An increase in standard production as a result of a decrease on the assessment on the estate was_re-Ported by the chairman, Mr. W: B. 'Middleton, in his speech presented at the 26th annual general' meeting of the Padang Rubber Company, Ltd, held on July 16 at 20 Canton' Road. Mr, E. E. Parsons a director of the company, was also. present, and 187,100 shares were represented by the' attendance.
The chairman's follows: speech reads as Gentlemen:—You will note that the output for the year was 258,272 Wb, as against 349,615 1b. for last year. Tam now able to inform you that an appeal against our assessment for 1836 was made and in' consequence our standard production was increased to 379,015 Ib. as against 399,010 1b. for 1995. 'This additional allowance includes "2,805 1b. normal Increase on immature' areas untapped and 37,200 Ib. on the old mature areas.
Further, and since the closing of these accounts, another loan on property amounting" to. $25,000, which the mortgagor folled to repay, has also been. refunded "In full with Sccrued interest by Messrs. A. R. Burkill & Sons. 1'do not consider it out of place to say how fortunate we fre to have received the bennet these repayments, Further, 1 wish put Ion record that in the invest tment of the Company's surplus funds, Messrs, A, R, BUTKII & Sons did nol Feeeive one cent. In the shape brokerages, commissions or any other form of return.
There being no questions, the following resolutions were passed That the report and accounts for the Betadopted: open by ar, We BG. Middleton and recoded. by ofr)
That a dividend of fe dollar cents per amore be pald: proposed by Mr. Bor tutadieton and seconded by Int.
W. B, MeMeckine That Mr. W. B, 0. Middleton be re-ceted "a director" of the company proposed by. Nir. Lil. W. P. Mehtecktn Ind seconded by ate, W, T: Mellor.
Since June 15 all scrap rubber is being sold in Penang without. the equivalent export rights., There is apparently. no objection to this Procedure. Some 40,000 1b. export rights were purchased during the year to. help dispose of surplus Socks of No, 1 rubber held in excess of the quantity allowed under the Rubber Regulation Enactment. The further purchase of rights was considered, but as the price was, prohibitive, it was not worth while. Some 2,040 Ib, scrap rubber not included in our crops harvested during May to June was destroyed by burning.
Text read from the printed page and cleaned; old type leaves the occasional error.