It is intended during the present year to replant 53 acres on Hendra ud a emall sparsely-planted lot of '54 eres on Dominion, which continues our programme of gradually replacing areas, which are uneconomie, with new' trees from the best lable planting material known. Of have little to say except to remark that on both Estates these are ina generally satisfactory condition. However, in spite of every care, we continue' to lose old tress Biel ft Ee pale Manca Te rat pat fat S tne Hech cal ta ale Butt ao SP ai eet pon its yield per acre, this, with the gradual loss of trees in these old Gelds, is a slowly diminishing factor which emphasizes the importance of replanting programme.
The Estate Buildings are in good serviceable order and present a very tidy appearance. On Dominion, six roomed "cottage" lines of a modern type were completed during the year, and on Hendra a combined Dispen sary and School was erected, all of which will be useful additions to the estate buildings and will help—con-Siderably in enabling the estate to keep a permanent and contented ivor staff always available.
Quota and Price 3. Welch and seconded by lite. te Radoor eposed by Mi. A. J. Welch and
Badeley as a Director of the Company "Ghat the' appointment, of Mr. J.B
be confirmed.
The exportable quota for the year averaged 55 per cent. of Standard Production, and this enforced low crop naturally had its effect on our cost of production. Economies, wherever possible, were effected and an average cost of 16.00 Str. cents per Th, compared with 1631 Str. ets. per I for 1937 can, T think, be consider~
The price of rubber for the greater part of the year was on a very low
Text read from the printed page and cleaned; old type leaves the occasional error.