28i 
ordinarv  rapidity.  Of  course^  I do  not  wish  in  this  connection  to 
be  over  sanguine.  I never  have  been,  as  I think  it  is  a great  mis- 
take to  hold  out  too  rosy  prospects  about  anything.  We  who  have 
been  engaged  in  tropical  agriculture  know  that  these  sanguine  ex- 
pectations have  been  so  often  falsified  ; so  it  is  better  to  regard 
things  in  a calm  way. 
At  the  same  time,  there  is  one  feature  in  connection  with  the 
rubber  industry  of  Selangor  which  is  very  striking,  and  that  is  that 
all  the  men  who  are  engaged  in  it,  and  who  are  putting  capital  into 
it,  are  men  of  some  considerable  shrewdness — men  who  are  usually 
in  the  van  when  there  is  anything  good  going.  A great  many  of 
the  men — in  fact,  nearly  all  of  them — are  Ceylon  planters,  who 
have  been  going  round  quietly,  picking  up  land,  planting  it,  and 
floating  companies.  I may  tell  vou  that  the  shares  of  one 
rubber  comp  iny  in  Selangor,  which  is  approaching  the  producing 
stage,  are  difficult  to  procure  at  the  present  moment  at  ;^3.  This 
will  give  you  some  idea  of,  what  certain  people  think  of  the  pros- 
pects. We  hope  on  our  property  at  Selangor  to  arrive  at  the  pro^ 
ducing  stage  somewhat  earlier  than  they  do  in  Ceylon.  The  trees 
at  Kondeseila  are  ten  years  old,  and  the  results  obtained  are  ex- 
ceedingly satisfactory  ; but  I hope  that  in  Selangor  we  shall  be  able 
to  get  a considerable  yield  from  our  trees  as  soon  as  they  are  eight 
years  old,  if  not  sooner,  owing  to  the  very  much  more  rapid  growth 
of  the  trees.  I hope  that  during  this  year  we  may  be  able  to  take 
a small  amount  of  latex  from  the  smaller  trees,  and  that  from 
thence  onwards  I trust  that  the  rubber  produced  will  be  quite  a 
substantial  factor  each  year.  In  a very  short  time  no\y  we  shall 
be  able  to  show  you  a profit  on  your  investment  there.  Meanwhile, 
the  Liberian  coffee,  whi('h  is  being  planted  amongst  the  rubber 
trees,  and  also  the  coconut  trees,  which  latter  will  take  longer  before 
they  come  into  considerable  bearing,  are  doing  very  well.  As  to 
the  Liberian  coffee,  we  can  only  regard  that  as  being  in  the  nature 
of  a temporary  benefit,  as  when  the  rubber  trees  grow  more  densely 
the  coffee  plants  will  succumb.  In  the  meantime,  however,  we  are 
receiving  a very  substantial  income  from  the  yield  of  coffee,  which 
goes  a long  way  towards  paying  our  current  expenses.  I therefore 
think,  w ithout  being  too  sanguine,  that  the  stockholders  of  this 
company  have  every  reason  to  congratulate  themselves  upon  having 
had  a cut  into  tliis  new  industry.  I think,  also,  that  the  price  at 
which  this  property  stands  in  the  company's  books  is  a very  safe 
one,  and,  in  conclusion,  I may  say  that  1 do  not  think  the  stock- 
holders will  have  any  reason  to  do  other  than  congratulate  them- 
selves on  having  embarked  in  this  rubber  Industry  in  the  Protected 
Malay  Slates.  I now  have  pleasure  in  seconding  the  adoption  of 
the  resolution  moved  by  the  chairman. 
The  resolution  was  carried. 
S/raits  T/j/it’s,  August  1 1,  Jgoj. 
