The exportable allowance on Hendra Estate has been cut by 96,000 Ibs, for the year and although have appealed against this assessment we have not met with any success.
With this cut in the assessment and the reduced exportable quotas for the year, it is inevitable that cost of production must be higher for the current year than for the past year, but you may rest assured that everything possible is being done both by us and our agents in the Straits to keep the cost of production as low as possible.
The general condition of the trees on both estates is reported upon by our Visiting Agent as being satisfactory and up to the usual standard for age for Malayan rubber, The rate of bark renewal is normal and practically all. the trees carry a reasonable reserve' of bark sufficient to last out several more years and both the estates are being maintained in satisfactory order.
In conclusion I wish to take this opportunity of thanking our Technical Adviser, Mr. H. C, Pinching, ow Straits agents, and the Estate Managers for their good care of our property during the year.
After discussion, the following resolutions were passed:
Proposed by: W. Mellor, seconded by H. Martin-Little, "That the Report and Accounts for the year ended December 3i, 1937 as presented be accepted, Proposed by: W, Mellor, seconded by E. E Parsons. That the' following recommendation as to the appropriation of the balance at credit of Profit anc Loss Account as presented be accepted To Pay a Final Dividend of 20 Cents local Currency per share (making a total of 65 Cents Local Currency per share for the year) $40,000.00 Place to General Reserve 15,000.00 Place to Replanting ord Cultivation Reserve 25,000.00 Write off Buildings and' Furni-alr paR 5,986.49 oft' Rubber Factory and HOLES. seven eases 12,038,78 Write off Plant and Machinery 507.12 Write off Wells and Water Brr 406.88 Forces' Recreation Centres Fund 250.00 Carry forward 10,033.08 $100,222.35, Proposed by: H. Kadoorie. seconded by: Kay C. Chun." That Mr. W. Mellor be re-elected a director of the Company.
Proposed by.
H. Kadoorie, seconded by Chun Kee Jack. That Messrs. Lowe, Bingham & Matthews be re-elected auditors to the Company Chinese Porcelain Sale Once again the world of art is to be reminded of its indebtedness to the gifted artists of China by the means of a sale at auction. The late Mr. Stephen Winkworth, of Walton Heath, was well known as a collector of fine Chinese porcelain, Indeed, he began buying rare pieces in 1895, and it was in his town house that he and Mr, Eumorfopoulos, with other lovers of Oriental porcelain, held the first meeting of the Oriental Ceramic Society.—states A. C. R. Carter in "Daily Telegraph and morning Winkworth became such a voracious collector that in 1933 he d to unload a big portion of his ction in a sale at Sotheby's. h realized nearly £20,000.
His death has now rendered it necessary to disperse the remainder of his treasures, and the sale is to be held at Sotheby's on April 26-29. As Mr. Winkworth lent many fine specimens to the famous Chinese Exhibition in 1935-6, it will be understood that the forthcoming sale will be very attractive to collectors, One of the outstanding examples is a Ming figure of Buddha in meditation, 28in high, in that white por-colan known as "blane-de-Chine."
Among the early pottery and si ware isa rare Kuan Yao bottle of the Sung Dynasty, and of the later K'ang Hsi and Yung Cheng periods are many beautiful and rare vases and dishes. But every period and style are represented.
Among the Canton enamels are a pair of decorative bridal hand mirrors mounted in' ivory and gilt bronze, beautifully enamelled with the Eight Happy Omens of Chinese wedded bliss—shuang hsi. These were much admired at the Chinese Exhibition three years ago,
Text read from the printed page and cleaned; old type leaves the occasional error.