In the resolution you are asked to give your directors the power to sell anything up to 420 acres at a price of not less than $1,000 per acre. This power is being asked for, because it is conceivable that boring may disclose that the only parts of the estate worth working fare the swamps and low lying land, in which case it may be found to bbe more advantageous for us to sell than to work on a tribute basis, but this naturally cannot be decided until the results of boring a known, In the meantime, as matters now stand, your directors have no hesitation in recommending you to accept the tribute basis, as after having gone into the matter very thoroughly, they are convinced that this will be best for your pockets the long ran, since by doing we shall derive for many years to come the full benefit of the profit on the rubber from the whole of our present planted area and in addition the swamps, which are at [present unproductive, will be yl {ing us our shore of any.tin ore that may be produced, Eventually, in say 20 years time, we shall be Toft with not more than 100 access of rubber, but this is a condition that will probably pertain in any case, since the average age of the trees on the estate 1s now 48 years and four months and root disease is becoming uncomfortably prevalent.
That is nil I have to say, gentlemen, but before formally pro: Posing the resolution, I shall be pleased to answers any questions you may wish to ask, The Resolution The company having received from parties concerned an applica tion for licence to test bore for tin over an area of about 420 acres of the company's state near Ipoh for a period of five months Resolved and the Directors are hereby nut he terized to grant such licence and at sooner. cither (a) to enter the expiration of the said period oF
into an agreement with such parties lor their nominees granting the sane the right to dredge for tin over such area on the basis of payment by such parties of a tribute of 10 er cent. of all ore recovered. and fon such other terms and conditions the directors may think fit, of to sell to such parties or their nominees the said area or part thereof at a price of not leas than $1,000 per acre and on such other terms and conditions as the directors may think fit—Proposed "by The Chairman and seconded by Mr. A. K. Craddock, Mx. C, P. Dawson said that ho supposed the people who ware me quiring were experienced in the tin mining line, It was no ood of dealing with people wie, like theme selves, were not experienced.
'The chairman said they wore already in the tin business and were well-known mining' people,,, Mx. Dawson observed that the circular did not give any names, and the chairman remarked that formal was mot necessary, The resolution was. then put. to the, meeting and adopted "unani. ously. There was no other business and the meeting. terminated, Ix response to telegrams from Chinese who claim to have sustain. losses in connexion with the fall of the Russian rouble, the Peking Waichiaopu says that, up to the present, the negotiations with the Soviet Government regarding the payment of indemnity to Chines" holders have been fruitless,
Text read from the printed page and cleaned; old type leaves the occasional error.