Late Commercial N.Z. MALAY RUBBER COY.

Dominion, Volume 30, Issue 45, 17 November 1936, Page 5

Late Commercial N.Z. MALAY RUBBER COY.

Acting-Chairman’s Address By Telegraph—Press Association Dunedin, November 16. Addressing shareholders at the annual meeting of the New Zealand Malay Rubber Co., at Oamaru, to-day, the actingchairman, Mr. A. J. Grave, said that no doubt they were aware that the sale of rubber was restricted under the international regulation scheme. In 1937-38 quotas would go up considerably. Last year first grade rubber averaged (id. per 11>., but to-day’s price was a little over Sid., the highest since 1930. They had definite word that the quota would go up to 70 per cent. At present it stood at 65 per cent. It was interesting to observe what had happened since 1932. In that year the company produced no rubber. In 1933, 8691 b, were produced, in 1934 30111 b., 1935, 54761 b., and 1936, 52271 b. The cost of production of rubber was 44d. this year, as against nearly 4d. in the previous year. The increase was explained by the extra expense of production and the new housing scheme, reading and bridging schemes, and the _ new methods of cultivation which were introduced, It was also found necessary to grow cover plants. It was decided to confirm the action of the directors in recommending that a dividend of £8 per centum per annum be paid on all preference shares.