The general regulations, however, regarding such remittances appear tus to have been harshly interpreted by the authorities in the Straits, who have ruled that remittances must be based on the average amount of profits remitted during the three years 1037-39. As It appeared to your Girectors and secretaries that this interpretation would inflict unneces sary hardship upon a large number of shareholders resident in China, immediate and strong representations were made to the authorities here, well as in the Straits through your agents in Penang, with a view to having modifications made, Until a decision is reached, it would seem inadvisable to consider other method of disposing of the assets of the company at present held the Straits, as we are still hopeful that our representations to the authorities may meet with some suc-
The report of the directors, pub-Ushed with the accounts, gives full Information as to acreage, te. and Is not my intention to add to these details as shareholders are no. doubt more interested in what is being done to ensure the earning power of thei sets being maintained and possibly increased,
Text read from the printed page and cleaned; old type leaves the occasional error.