THE NETHERLANDS EAST INDIES 267 



Since those statistics were compiled several additional 

 companies have been formed and the greater part of the 

 unissued shares have been sold, so that to-day the total 

 issued capital of the rubber joint-stock undertakings in 

 Java is not far short of 12,250,000. The value of any 

 debenture issues or other fixed interest charges in con- 

 nection with these companies is so small that it need 

 not be taken into consideration. Under the head- 

 ing of " British Companies " is included the value of 

 various undertakings originating in Hong-Kong and 

 Shanghai. 



For general financial purposes the rubber estates in 

 Java must be classified under three headings : (i) Plan- 

 tations opened on economical lines before the rubber 

 boom of 1909-10, and not sold during that period of 

 inflated prices; (-2) old estates purchased during the 

 boom or new plantations opened at that time ; (3) estates 

 established between 1912 and 1913, on a scale of expen- 

 diture restricted to conservative limits. Under the three 

 categories the approximate extent and values in 1912 

 were 



