Several questions, dealing with the amalgation of three rubber companies were brought forward by Mr. L. Soyka at the annual general meeting of the Samagaga Rubber Ca., Ltd., held at the offices of the secretaries and general managers, J. A. Wattie Ca, Ltd, yesterday. Mr. A. J.
Welch (chairman) presided and he was supported by Messrs. L. E. c and C. F. Shackleton (directors and W. A. Welch (representing the secretaries and general managers). Total shares represented at the meeting were 523,200, in his speech the Chairman said: accounts now before you disclose At of Ch.$32,706.49 as compared Ch.$93,957.40 last year. This auction of profit was due to the output being less by 17,600 Ibs. and to the average nct selling price being 6.04d. per pound as against 9.014. last year. Here I'must call your attention to a typographical error in the output figure shown on page 1 of the directors' Report. The figure 294,392 should have been 323,500 Ibs. which is correctly shown in the working account, During the year 16,090 Ibs. of scrap rubber were sold uncouponed, the coupons being utilised against a liar quantity No. 1 quality rubber. The revenue expenditure is down by St.$7,858.89, of this reduction St.$3,328.19 was on account of the upkeep of the gardens and is due to the fact that practically the whole estate is now clean and under a fine leguminous cover crop and weeding costs should show a further decrease next year. The riverside fields are clean weeded as it has proved impossible to get 2 cover crop established on this very swampy land. The revenue expenditure including Shanghai expenses works out at 5.13 pence per pound as against 5.18 pence last year. The Shanghai expenses work out at 0.18 of a penny per pound.
Text read from the printed page and cleaned; old type leaves the occasional error.