COMPANY MEETINGS
PATALING RUBBER ESTATES, LTD.
GOOD RESULTS BUT OUTLOOK UNCERTAIN THE eighteenth annual general meeting of the Pataling Rubber Estates, Ltd., was held on May 13th at 19 Fenchurch Street, London.
Mr. H. Eric Miller (the Chairman) said that with such satisfactory accounts it was a matter for regret that current prospects were much less favourable for reasons which were, however, beyond their control. Aided to a small extent by purchased export rights, they had accounted for a crop of over 41 million lbs., as against something over 21 lbs. in 1936. Including the unsold balance at a conservative valuation, their sale price averaged 9.16d. per lb. and the all-in cost Was only fractionally higher than in 1936, increased wage. rates td native labour being responsible therefor.
On average only two-thirds of the mature area were tapped, and the yield over the whole mature area was 445 lb. per acre, whilst on the area actually tapped it averaged 696 lb. per acre.
After debiting the profit and loss account with £2,500 for National Defence Contribution, the year's working resulted in a profit of £66,739, almost 22 per cent. on the issued capital. They recom- mended shareholders to increase the reserve for cultivation and replacement by £11,638 odd, making a total of £17,500. A final dividend of 71 per cent. was recommended, making 15 per cent.- for the year. The results for 1938 were likely to be leaner, but they had made forward sales for 1938 shipment totalling 228 tons at a price of just under net. per lb., which looked an attractive figure. He hoped, however, that before they met again next year there Would be substantial improvement to record.
RUBBER PAVING IN LOMBARD STREET.
An event of some importance to the rubber industry was the paving of Lombard Street with the Gaisman improved Bramble block, the laying of which was completed last week. While it was not possible to eliminate engine noise, the benefits which were hicely to accrue to the frontages from the damping-down of wheel noise and vibration should soon manifest themselves and he was• sure the attractiveness of that type of paving would receive wider recognition. The speedy and efficient completion of that job, following on the laying of Cornmarket Street in Oxford last year, had brought rubber road paving from the experimental stage into the field of wider application on commercial lines. He had personally been a staunch advocate of that development, not solely in the interests of the rubber industry, but in the hope that they might be spared some of-the distracting noise and vibration arising from heavy motor traffic.
The report was unanimously adopted.
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