The thirtieth annual general meet-of the. Ayer tation Ca, Ltd, was held yesterday in the offices of the Secretaries, The Trading Dairy Ca. Ltd, 61, Yuen Ming Yuen Road. Mr. L. E, Canning, O.BN. (chairman) presided, supported by Messrs T. Hunter and A. J.
representing the Secretaries, and the felch, rs, Mr. F. H. Artindale, following shareholders:—Messrs A. Someck, P, D. Raeburn, S. Davidian, F, Ching and Wong Vu Ching. The total holding represented, inclusive of proxies, was 75,297 shares, The chairman's speech was as rkipg for the past year has resulted in Å profit of: CS$138,923.58 4s compared with, a profit for the This or our products was 26.58. Straits cents as compared with 22.64 for the previous period. The output for the Year was 395,000 Ibs. as against 544,000 lbs. and the quota for our financial year averaged 48% per cent. of Standard Production, or 333,157 lbs. carry forward an excess this with into stock at the conservative figure of 16.88 Straits cents per lb.
Land Acquired We have acquired during the year at a cost of CS$19,465.39 a further 96 acres of excellent land and the out-Jay for felling and burning this, as well as the upkeep to 125! acres of the immature area and 50 acres of new clearings, has cost CS$25,423.73. The diture on replanting absorbed 155245 which it is recommended be written off out of profits. The board also recommend the payment of a dividend óf 20 China Dollar cents per share for the year, and to write off the odd amount of (CS$1,465.39 from Property Account, making that item a round figure of CS$140000.00. In view of the further expenditure to be incurred on re~ planting and the upkeep of the immature areas, it is felt that a carry, forward of CS$57,751.93 is not excess 1 shareholders for their kind consideration sive in spite of the fact that the release for the present quarter is 72% per cent, and the market price of rubber is round about 39 Straits cents per Ib, There has been a book profit on exchange of CS$44,909.06 which has been placed to Exchange Fluctuation Reserve Account.
Text read from the printed page and cleaned; old type leaves the occasional error.