Turning to the combined balance sheet it will be seen that capital expenditure during the year amounted to 192,751.69, made up of:—Bandoeardjo 50,824.25; Kaliminggir £25. 713.31 and Pasawahan £.16.214.13. I will give you particulars of this expenditure and propose dealing with the various items in the same order in which they appear in the Balance Sheet.
The expenditure on development of £14.576.14 comprises 114,302.38 for upkeeping 311 acres of immature rubber. Included in this area are a further 17 acres of old rubber and an extension of 77 acres—both on Pasawahan Estate. The balance of the expenditure on development was £278.76 for the upkeep of twelve acres of 1939 planting on Kaliminggir Estate.
Under the heading of. reclearings, expenditure was 26,415.39 which can be summarized as follows:—upkeeping 493 acres of 1936/40 replanting on Bandoeardjo—f.17.493.94 and the upkeep of 382 acres of 1934/1940 replantings on Kaliminggir Estate—18,921.45. I would mention that the above acreages and expenditure include replantings of a further 37 acres of old rubber on Bandoeardjc and 65 acres on Kaliminggir during 1940 whilst this expenditure also includes the cost of nurseries prepared for the production of material for further Replantings in the next two years,
Text read from the printed page and cleaned; old type leaves the occasional error.