DOMINION RUBBER

Evening Post, Issue 51, 2 March 1931, Page 12

DOMINION RUBBER

The Dominion .Rubber Company, Dunedin, reported for the year ended 30th November, 1930, a. balance brought forward from last year £3466 Is lid. After deducting the loss for the year of £2154 fis sd, and depreciation on buildings (for the year 1929), 1928 (£2362 5k od), there reinains £1113 16k 6d. It was proposed to carry forward this balance to next year. The crop • for the year was 470,8521b, of which 421,6321b were sold and 49.2201b were carried over to next year. The average price realised was only 5.10 d per lb, and as it was not possible to produce rubber to s-how a profit at the price then ruling, the directors decided on 19th November to cease tapping, and cabled the agents for the estate accordingly. The planted area is 1078 acres, of which 902 acres, are tappable; all buildings and plant are in good order, and are taken in at a fair valuation. Mr. H. Adam, chairman/. said the cost of producing rubber was 6.44 d per pound, whereas it was realising but 3%d per pound. All salary agreements were cancelled, and fresh .arrangements with the agents and manager wore made. Only 60 hands were engaged to carry on the nccossiary routine. The output for the year had been the second largest recorded by the company, and amounted to 470,8521b, an increase of 10.4u51b pn the previous year.. Of this 49,2201b was unsold at balance date. The co«t of running the estate now that it was closed down would be ;ibout £7980 per annum. Operations could be recommenced any day. The report was adopted. /