Sua Manggis Rubber Ca.
Shanghai, Mar, 22.
'The Bist annual general meeting of shareholders of the Sua" Manggis Rubber Ca, Lid, was held yesterday 49 Szechuen' Road. Mr, A, J. Welch, chairman, presided. supported by Messrs H, Kadoorie and G, H. Wright, directors, G. A. Smith, secretary, Shares present and, r0- presented totalled 30,875, Immediately following the above an extraordin-vary meeting was held, to make cer ain alterations in the Articles of "The chairman in his speech sald:—'The result of the working for the year is a profit of Chs2ate44is as Compared with a profit for' the provious year of Ch.$09,109.72, This satisfactory result is attributable to the fact that the output of rubber was 49,296 Ibs. greater, the average receipts from the sales of rubber were 103 pence per pound higher and the average rate of exchange was 14% Straits cents to the Chinese dollar as against 23 cents last yeu, The estate expenditure on revenue account, on the other hand, was very nearly the same, The expenditure on capital count was Ch$22,62143 for which sum the 10 acres replanted in 1098 Were up kept and a further 20 acres: were replanted, The Estimated Capital Expenditure for 11 is St, '$0,948.00 which will be spent on replanting a further 92 acres "and upkeeping the before mentioned 30 year under review, sum equivalent to Eh, $91,821.22 in an Export Duty specially imposed for the purposes of the present War. Moreover, the money thus frozen in the Strats is In the aggregate of very material benefit to the Empire in assisting maintain the balance of exchange.
Text read from the printed page and cleaned; old type leaves the occasional error.