Your Estate. is gradually being replanted with Budgraft Trees which are making good progress. The condition of the Estate Is very satisfactory' and with the large reserves we have been able to carry forward, viz, a surplus of liquid assets over liabilities of Ch.$575,89384 your Estate is, you will agree, in a very sound position.
The Final Dividend of $1.20 that your Board is going to recommend will make a total of $140 for the year, or exactly 109 per cent. of the share capital which T believe shar holders will consider extremely satisfactory. wish on your behalf to thank the Manager, Agents and Visiting Agent, and all concerned with the Estate, for the very fine work they have put in during the past year.
Gentlemen, I will now propose that the Report ard Statement of Account for the year ended September 30, 1040, ax presented, be accepted and passed. This resolution is seconded by Mr. A. J. Welch, but before formally bulting' it to the meeting, T will be' pleased' to answer any questions there-anent to the best of my ability.
There being no questions, the following resolutions were put to the meeting and carried unanimously:—
"That the Meport_and Statement of! Accounts for the year "ended. Septem-Geran loin, of presented, be accepted Pissed Srongced ty 1 Cane
Text read from the printed page and cleaned; old type leaves the occasional error.