Turning to estate matters, there is as usual very little to say, The estate continues to be managed by Mr. 'Simpson in his usual efficient manner, 'The only change that took place in the planted area during the year was that 46 acres were cut out and re. planted and two acres were us nursery. 'There are occasional cases of root' disease, but consider age of the state it is remarkably free from this disease which occurs on all old plantations; otherwise the stale is in a satisfactory condition, Octo. Shang Rattus ana seconded Kapayang Rubber Kstates Ca., Ltd.
Sune 2, In a very satisfactory report the chairman of the Kapayang Rubber Ca. Ltd, at the 32nd annual ng'held yesterday at 49
profit for the year was $159,041.60, ed, announced that, the compared with $23447.72 in 1999 the meeting passed a dividend of $3 per share, It was also announced that an offer had been received from the Rubber Trust, Lid, to take over the company as & going concern by fan exchange of shares, this proposal in now under consideration by the board. Mr, A. J. Welch, chairman, presided supported by Messrs. L. Canning, H, Kadoorie directors and 'Me, 'D. 'E, Levy representing J. A. Waitie' & Ca,, Lid, secretaries and general managers." Shares present And represented totalled 3,775.
"The chairman in his speech said:—The working for the past year resulted in a profit of Ch.$150,841.00 compared with Ch.$23,447.72 for the previous year. This very satisfactory Fesult is mainly attributable to the fact that the estate was in tapping for the whole year instead of selling Its export rights as was the case last year. The sales effected up to the time that the accounts were made up realized an average net price of 9.80 ence per pound. as compared with 5.83 pence per pound realized from the sale of rights last year, The profit, when expressed in Chinese Gollars, is also increased by the fact that the average rate of exchange in
2 4o4o was only 14% as compared with Upkeep Costs Upkeep of the producing area showed a decrease of St-$040.03 owing to less Garden work being necessary.
Following the remarks T made last year about the desirability of replant Ing the estate gradually in order to conserve your. capital asset the programme has been accelerated and Tie hoped that the whole Estate will have been replanted " by the fend of 1945. 'The company should ble to manage this financially replanted future' will tapped drastically so as to reduce the' cost of production and to obtain the maximum output before the trees are' cut out.
Text read from the printed page and cleaned; old type leaves the occasional error.