Turning to the combined balance sheet It will be seen that capital penditure during the year amount £02.751.69. made up of -—Bandoeardjo £50824.25, Kalimingghr £29. gal and Pasawahan £16214.3. Will give you particulars. of this ex= penditure and propose dealing with the various Items in the same order which they appear in the Balance Sheet.
"The expenditure on development of {1487014 comprises £14.302.38 for Upkeeping '311. acres of immature rubber, Included in this area are a further 17 acres of old rubber and extension of 77, acres—both on Pasawahan Estate. The balance of the expenditure on development was 42316 for the upkeep of twelve Actes of 1939 planting on Kaliminggir Under the heading of reclearings. expenditure was £20415.39 which can be summarized as follows:—upkeop-403 acres of 1986/40 replanting on Bandocardjo—f.17493.94 and the Upkeep of 382 acres of 1924/1040 replantings on Kaliminggir Estate—£802145. T would mention that the above' acreages and expenditure me clude replantings of a further 37 eves of-old. rubber on Bandocardje. and 65 acres on Kaliminggir during 1040 whilst this expenditure also includes the cost of nurseries prepared for the production of material for further Replantings in the next two
Text read from the printed page and cleaned; old type leaves the occasional error.