Shanghai. May 20.
The nineteenth annual general meeting of the Senawang Rubber Estates Company (821), Lid, was held yesterday at 49 Szechuen "Road. Mr, A.J. Welch, chairman, presided. supported by Bir, LO." Canning. director, and Mr. W, A. Welch, re~ presenting Messrs J. A. Wattie & Ca. Lig, Secretaries una general manag: cers." Shares present and represented totalled 321,680, 'The chairman in his speech said:—'The Working for the year has resulted In a prof of only' Ch.$23,004.53 compared mith a profit for the previous year of ChS149,939.61.. This creased profit is attributable to the fuels that the output of rubber was 227,700 Ibs, smaller than last year and the average net price realized for our product was 1.09 pence per pound Tower but on the other hand the estate expenditure on revenue account was 1.12 pence per pound higher.
This profit added to the balance of Ch$15521.86 brought forward from last. year, less the interest on the Preference Shares, which latter was paid on March 15 1999, leaves a divisible balance of Ch$32,620.00 which your Directors recommend be dealt with ax set forth in their Report, Upkeep During the year the sum of Chis, 628.80 Was spent on upkeeping the 180 eres previously replanted and preliminary' work' on a further area that is destined for replanting in the neue Future, This sum. itis proposed, shall be wei tien off out of proilts as Soon ax possible, The replanted areas have been planted with special select~ fed Clonal Seed and the soring plants reported to be making exeetient "The standard of tapping is satis factory and the Fate of Bark con sumption and ¥enewal Is normal. The average aren in tapping. throughout the your wax 708 acres which yielded the fate of 438 Ibs per acre per annum.
Waes showed a material decrease andi averaged 40.22 cents per Bay as compared with 48.87 cents per day Taxt sear. The supply of labour was ample for all requirements and the health of the force wax generally speaking. satisfactory.
"The standard production for 1939 thas been fixed at 670,700 ths.. which {yan increase of 16,320 Ibs. over that for the previous year.
Estate Atairs The estate turns out a good quality of smoked sheet and no complaints have been received from the buyers.
Weeding cost 38 cents per acre per month as compared with 29 cents last ear, The increase being due to the more Intensive work that was done. Neither pests nor diseases gave an special trouble during the year an Such as were discovered were given the requisite treatment.
"The new machinery ix reported to be working satisfactorily and the cost of Manufacture hax already bet redueed from.72 of a cent (0 56 of cent per pound, The old smoke hou was burat down in February and hew one of an improved type has been erected at_very little extra cost.
All Buildings were given the neces sary upkeep and are reported to be Speaking generally the Estate is reported to be in food condition and free from harmful growths and the rouress being made by the newly lanted areas ix most gratifying, Company Financially Sound
a enact cite you poe tiny the Canny" splntasons boric commented, A ne ete 1 would 1 coa very oes Shams eae Manager, to. 10 A aye an a the Vine Subordinate gents in Penang Agena and he Meera in which She ce a after te inerets 0 ce atthe sear under Feretre being no questions the fol omer wale one Gore parsed A, 4, Welets and Proposed seconded "tht Messrs Simpans "Sud "that Sung" wg accounts forthe, gear "TBroposed by sie W. A. Welch and setondea by' Sr:
Text read from the printed page and cleaned; old type leaves the occasional error.