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For the descendents of Richard Dearie and his son John Russell

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The Straits Times, 26 February 1910, Page 7 UTAN SIMPAN. FOOC K.L. February 25 The application lists for Utan Simpan shares are full.

J.A. Russell and RUBBER

According to Don Russell " The real boom in rubber started in 1909 and good advantage was taken of the situation and with profits made, further property was acquired including a large part of Kampong Malacca. It is interesting to recall that on St. George Day 1910 rubber touched 13/8d. a lb, and "J. A." luckily decided to dispose of all of his various shareholdings. In 1910 the firm was heavily engaged in rubber and floated a number of new companies including New Serendah, Kamasan, Utan Simpan, Amalgamated Malay etc. It also purchased for itself an estate at Sungei Tua and later-on a large estate at Tenang in Johore." In an obituary of Archie in The Straits Times, 15 April 1933, page 28, an unknown writer says: " Going back nearly a quarter of a century I recall that his first venture was obtaining an option over Kamasan Estate, Kuala Selangor, in partnership with a planter. That company has since paid out 374 per cent. in dividends and passed its dividend for the first time this year. In those early days Mr. Russell was also associated with the floatation of Sungei Ramal, New Serandah, Utan Simpan and other local companies and was a member of their boards for some years. More recently the pressure of other business compelled him to hand over these duties to Mr. R. C. Russell. He also built up substantial rubber interests of his own, so much so that at the date of his death he was, I believe, the largest private owner in Malaya."

Extracts from newspapers and documents transcribed by Claire Grey unless otherwise stated.

 

The Straits Times 14 March 1910 page 7 NEW RUBBER COMPANY Serandah Issue Already Much Oversubscribed FOOC KL March 14 The new Serandah rubber prospectus has been issued showing that the capital of the company will be $600.000 in $2 shares The purchase price is $350,000 of which $200,000 will be in cash. The directors are Messrs Travers, Dupuis, Frank Harvey, Grey and J. A. Russell. The estate is planted with 754,540 trees. Mr Prior has reported most favourably on the property. The list closes at 3pm on Thursday, but the shares are already very much oversubscribed.

The Malay Mail, Thursday , June 9, 1910. p.6 Large Advertisement for The Kamasan Rubber Company Limited. Capital- $250,000. Divided into 125,000 shares at $2 each (….69,290 shares now offered for subscription.. secretaries and registered office Russell and Co.., 17 Old Market Square K.L. The Company has been formed to acquire from Mr. J. A. Russell the Kamasan Rubber Estate at Kuala Selangor owned by Mr. W. H. Trotter….718 acres.. The purchase price is £10,000 say $85,700 payable to vendor, Mr. J. A. Russell. In cash $34,000, in shares 51,420. Capital..shares..articles of association.. solicitors.. applications…prospectus.. extracts from report by Mr. M. J. Kennaway of Tanjon Malim… situation…. Soil.. road frontage..planted area..growth of trees.. reserve land.. tapping.. valuation..details..)

1910

The Singapore Free Press and Mercantile Advertiser (1884-1942), 10 June 1910, Page 4 KAMASAN RUBBER Co. The subscription list for the Kamasan Rubber Co, Ltd opened yesterday and closes on Tuesday next. It has a capital of $250.000 divided into $2 shares, 69,290 shares now being offered at fifty cents on application, twenty-five cents on allotment, and the balance in calls of twenty-five cents. The directors are Messrs. John Gibson, Russell F. Grey, J A. Russell, W. H. Trotter, and A. K. E. Hampshire. The purchase price is £10.000, and the estate which is situated in Selangor, consists of 718 acres. The estate has been favourably reported on by Mr. M J Kennaway of Tanjong Malim and his valuation works out at £17,126, his estimate of the market price of rubber fall 1911 being 56, and thereafter 6d drop every year until 1915. The Secretary and registered offices are Messrs. of Russell and Co, Kuala Lumpur. (138 words)

The Straits Times, 6 May 1911, Page 9 THE NEW SERENDAH MEETING. 0. Shareholders Unanimously Agree Not to Refloat. (From Our Own Correspondent.) Kuala Lumpur, May 5. At the first annual general meeting of the New Serendah Rubber Co., held here today, the report and accounts were passed. The following directors were re- elected: Dr. Travers, Messrs R. Grey, F.G. Harvey, H.F. Dupuis and J.A. Russell. Dr. Travers, the chairman, referred to the company’s prosperity and good position. He said he was strongly opposed to refloating the company on a sterling basis. The meeting unanimously decided not to re-float the company.

The Singapore Free Press and Mercantile Advertiser (1884-1942), 23 May 1912, Page 331 NEW SERENDAH. COMPANYS FLOURISHING POSTION. Dr. E A O Travers, chairman, presided at the second annual general meeting of shareholders of New Serendah Rubber company, Limited held at Kuala Lumpur. The net profit for the year amounted to $23,985.10, which together with the bounds brought forward from 1910 amounted to $24,030.47. After paying off $303.15 as preliminary expenses, paying a dividend of 5 percent absorbing $20,800, and paying directors fees amounting to $2,500, of which 25 per cent was chargeable to revenue, a balance of $2,302,32 was carried forward. 0. Dr. Travers said they had all received a copy of the report and balance sheet and would notice that in this case the directors have given them in full the report of Mr. Harvey, the visiting agent. The directors desired to keep shareholders in touch with all that was being down on the estate and thought it better to do this than to rely upon casual remarks made by the Chairman at the annual meeting. The 16,000 shares which the company issued last year would rank for dividend as from the first of July, and, therefore, they would receive a dividend for the half-year. There seemed to be some misunderstanding in the minds of some shareholders, who thought they were to receive a dividend for the whole year. Share is now issued would rank for dividend from the first of May this year. (Summary: the article covers the price obtained for rubber, cost of production, compared to The Straits Rubber Company, Glenshiel and Crocodile, which was good and showed good management. Mr. Ferrers, a shareholder complained that annual meeting ought to have been held in February and that the 5 directors were paid $500 each a year, and asked how many meetings they attended and was told 2.) “ He did not bring forward this point in a contentious spirit, but when the Company paid one-tenth of its profits to directors, shareholders ought, surely, to know it had been well spent. As a fact three of the five directors were not in Kula Lumpur for a great length of time last year. Mr. J. A. Russell, was in Hong Kong and Mr. Russell Grey and Dr. Travers were also away. He thought people would wonder how it was these gentlemen, and were being paid for services, which, on the face of it, they were not performing satisfactorily. If a man were appointed a director he should not appoint another man to act for him, while he took a holiday. At the same time he did not suppose the substitution of Mr. Don Russell for Mr. Archie Russell affected the value of the shares. In other respects Mr.Ferrers was thoroughly satisfied with the excellent report. The chairman in reply explained that the date of the annual meeting had to be deferred, as it was not possible to pay a dividend until new shares were issued, and that the accounts were only just complete. As to the question of the directors’ fees he said he received $300 for attending two meetings of the Federal Dispensary, as a director last year, and not $10 and meeting. Further, because a man was a director of a rubber company was he to be compelled to stay in this country all his life? Directors were paid not for attending meetings, but for their advice, the work they did for the companies, and the thought they gave them. (The report and statement of accounts was passed, Dr Travers and Mr. McFadyen were re elected directors.)

The Straits Times, 10 October 1912, Page 9 Utan Simpan Rubber Co. SECOND ANNUAL REPORT OF DIRECTORS. Tapping To Begin in January. The report of the directors of the Utan Simpan Rubber Co., Ltd., which is to be presented to shareholders at the second annual general meeting to be held at Kuala Lumpur on Saturday next, states:- CULTIVATION. — The area under cultivation remains the same as last year, viz. 294 acres planted between 1908 and 1910. The dates at which the planting was done cannot unfortunately be taken as a fair guide to the condition of the trees, whose growth has undoubtedly been retarded by the dirty condition into which the estate had fallen before being taken over by the Company. Large quantities of lallang had, it will be remembered, been allowed to spring up. The evil effects of this are however fast wearing off, and except that the development of the rubber has been slower than was anticipated the condition of the estate leaves nothing to be desired. The following is an extract from the Company’s Visiting Agent’s latest report, dated September 18, 1912: - “The growth has improved all over since my last visit in May, but especially in the 50 acres which were dug over and limed in May last. I measured 20 trees of varying sizes in this area and found an increase of girth of 2 and a quarter inches per tree. This in four months is very satisfactory and encourages us to proceed with the cultivation. I have recommended that the balance of the 200 acres to be dug over and limed. “The estate is in capital order and there is practically no disease to be seen. “There are 50 Tamil coolies on the estate and more will probably be obtained soon.” With the exception of a small piece of land laid out for nurseries no new clearing has been attempted during the year. Of $8,608.67 devoted to upkeep, $6,059.76 was spent on weeding, the remainder mainly on putting in supplies, cleaning and making up existing paths and drains, keeping down pests, and clearing timber. BUILDINGS- A substantial bungalow has been built for the Manager at a cost of $2,945, and improvements to the permanent lines, including a brick well, have cost a further $400. FUNDS. - The estate’s expenditure during the year amounted to $16,815,05, which was $4,415,05 in excess of the estimates. The extra outlay was necessitated by the large amount of labour necessary to keep the estate clean, the monthly cost of weeding averaging $1.71 per acre. It is expected that with the employment of Tamil labour instead of Chinese, the weeding this year will cost not more than $1 per acre per mensum. The Company’s previously uncalled capital amounting to $16,500 has now all been called up, the calls shewn as outstanding in the balance sheet having since been paid. The expenditure for the coming year, which is estimated at $22,480, will be met either by a fresh issue of shares or by a loan. Our hopes that it would be possible to commence light tapping over 200 acres in June, 1912, have not been fulfilled, owing to the backward condition of the trees, already commented on. The Manager states that 40 per cent of the trees in this area will be tappable by January 1913 and though the variations in their size make an estimate difficult, he considers that by June 30 not less than 6,000lbs should be obtained. The retiring directors are Messrs. V U. Kelso and H.E.G. Solbe who being eligible offer themselves for re-election. The auditors retire, but being eligible offer themselves for re-election.

The Straits Times, 16 November 1912, Page 12 Dollar Share Values. A REVIEW OF THE PRESENT POSITION.With Some Forecast Valuations. In continuation of the resurvey of Dollar Share Values, we deal to day with two additional Companies. Our readers are now sufficiently familiar with the principles on which examination is being made to save us the necessity of repeating the explanatory introduction published in our issue of November 13. KAMASAN FORMED JUNE, 1910 Situation of the estate: Two and half miles from Kuala Selanagor Board of directors. John Gibson, R. F. Grey, J. A. Russell, W. H. Totter, A. K. E. Hampshire. Secretaries and Registered officers: Boustead Hampshire and Co. Kuala Lumpur Capital Authorized $250,000 Capital Paid up 190,000 Rubber Outputs Decr. 1911 to October 1912 9,096 lbs. Area of Estate. The area of the state is given in the last annual report (to Decr 31 1911 as follows:- 0. Rubber:- 0. Planted 1907 …70 acres 0. Planted 1908…50 acres 0. Planted 1909 …47 acres 0. Planted 1910…144 acres 0. Planted 1911… 232 acres 543 0. Reserve, part cleared 176 0. Total 719 0. 0. Theoretical valuation. 0. 0. A calculation based on Sengat scale, taking the rubber as at December 31,1910, and par value of authorized capital the basis for calculation of dividends, worked out as follows: 0. Total valuation £20,860 0. The production so far is a little above scale estimate, and the prospect, from an output point if view, seems promising. 0. 0. Financial Position. 0. (Summary: The article continues with liabilities and assets and a forecast valuation with expected estimated dividends up to the year 1917)

1911

1912

The Straits Times, 31 March 1913, Page 10 NEW SERENDAH RUBBER. Considerable Reduction in Cost of Production, The third annual meeting of the New Serendah Rubber Company, Ltd., was held at the offices of Messrs. Boustead, Hampshire and Co., Kuala Lumpur, on Saturday, Dr. E. A. O.Travers presiding, and there being also present Messrs. J. H. M.Robson, J A Russell, R F Grey, FG Harvey, H N Ferrers, D H Hampshire and MD Fallon. (Summary: The article describes the directors report, profits $65,945.10, dividends of 12 %, output for the year 58,015 lbs, Mr. F. G. Harvey is the visiting agent, Mr. M. D. Fallon the superintendent, Mr. L.W. Weddige the assistant, The labour force is 402 Tamils, there is no shortage of labour, wages are unaltered except regular tappers are encouraged by a sliding scale of pay. List of acres planted, 300 acres felled, estimated crops, 41,357 trees tapped for year on 379 acres, the curing machinery worked well, a scrap washer has been installed, Lalang weeds dug out, roads and drains in good order, liming and forking old fields, control of pets and diseases, expenditure on new clearings, extensions of 200 acres planned in virgin jungle bordering on Sungei Choh Estate boundary, buildings built for workforce and assistants bungalow. Chairman’s speech covers health of coolies, weeds, crop, reduced production costs, 1,00 acres now in cultivation, company popular, 90,387 shares changed hands despite not being on London Stock exchange. Report and accounts agreed. Mr. J. A. Russell retired from board by order of rotation and chairman leaving country in May. Suggests Mr. Ferrers as his successor and also proposed Messrs. Russell and Ferrers be elected as directors. Seconded by Mr. Robson and carried. Votes of thanks, Mr. Russell proposed a vote of thanks to Dr. Travers for his work as chairman of company. Mr. Ferrers: crop returns exceeded estimates, company had good record compared to others “ They in Kuala Lumpur were entitled to take every credit for the way in which they managed local affairs and did local business, compared with the way in which similar things were done in Singapore”(1816 words)

The Straits Times, 15 September 1915, Page 12 Utan Simpan Rubber. 0. THE SUCCESS OF KUALA LUMPUR COMPANIES. 0. Twenty Per Cent. Dividend. The fifth annual general meeting of the Utan Simpan Rubber Co. Ltd., was held at its registered office on Saturday. There were present Messrs.. Solbe' (in the chair), J. A. Russell, Kelso, Freeman, Ferrers, Nutt, Kindersley and A.K.E. Hampshire. The director’s report and the balance sheet having been passed, a dividend of 20 per cent. For the year was declared. Messrs. A. K.E. Hampshire and J.A. Russell were re elected directors and Messrs. Neill and Bell auditors. 0. Mr. Nutt moved a vote of thanks to the directors and staff for the extremely satisfactory way in which the affairs of the company had been conducted. 0. Mr. Ferrers, in seconding, says the Malay Mail, remarked that it spoke well for the business men of Kuala Lumpur, and so far as he was aware not only this company but also other local rubber companies had proved thoroughly successful. This was the more encouraging when one reflected how many companies had been floated during the rubber boom and had subsequently been shipwrecked. He believed that the records of the Supreme Court might be searched without discovering a single case of a local company which had proved unsuccessful. The public in Kuala Lumpur might congratulate themselves on obtaining a better return for their money than was the case in other places in the East. 0. After sanctioning a payment of a bonus to the staff the meeting terminated with a vote of thanks to the chair. 0. Director’s Report. The directors report was as follows:- 0. (Summary: The nett profit was…$37,161.57…output for year 88,137lbs. All the rubber has been shipped to London,..cost of upkeep of estate… total expenditure…Government Loan paid off… company now free of debt. The 100 acre block planted in 1913…. further 500 acres being cleared..extensions to factory. Smoked sheet is manufactured by hand and the lower grades continue to be machined on a neighbouring estate, but the resultant crepe is dried in our own factory. A new set of coolie lines will be erected at an early date. “The following are the present acreages;- In bearing , 300 acres; planted 1913, 100 acres; felled, 50 acres; jungle, line sites etc. 190 acres; total 640 acres. The estate generally is in good order and condition, and pests give no cause for anxiety.”)

The Straits Times, 21 March 1916, Page 23 0. KAMASAN RUBBER CO. (FOOC) Kuala Lumpur, March 20. At Kamasan Rubber Co. meeting, Mr. J. A. Russell presiding, said that the directors were charging all costs of rubber not yet in bearing to revenue. They intended to continue to sell locally while Singapore prices equalled London. Calculations showed at present little difference either way, but it cost one percent to get rubber to Singapore. The profit amounted to $59,288. Their rubber fetched 41.14 and a half cents and all-in costs was 57 and half cents. The crop totalled 100,298lbs, and the 1916 estimate was for 154,000lbs. 0. A dividend of 25 was declared. Mr. Russell was re-elected director, and Mr. E. W. King’s appointment to the board was confirmed.

1913

Letter from District officer, Ulu Selangor, to the Secretary to the Resident Selangor. USL 744/16 District office Kuala Kubu. 26th October 1916. Appln: by J. A. Russell for 1000a of rubber land in the mukims of Rasa & Ampang Pechah. Sir, I have the honour to submit an application by J.A Russell for about 1000 acres of rubber land in the mukims of Rasa and Ampang Pechah as edged in pink on the attached tracing. 2. The land is situated west of the Sungei Rasa about two miles from Rasa town and is available. Access is available by rough cart roads from the South to Rasa town and from the North to Kuala Kubu. The native holdings adjoining were alienated for padi but many are now abandoned. 3. The Deputy Conservator of Forests has no objections to alienation provided two timber licences working there are given reasonable notice to stop. 4. The inspector of Mines reports in his opinion the land is not worth keeping for mining. 5. The applicant is a well known miner and merchant and owns only two acres of agricultural land. 6. I recommend approval: - Premium $2 per acre. Rent $1 and $4/-, Cultivation section 3 Enactment 8/1914, I have the honour to be, Sir, Your obedient servant, CMOwen? District Officer Ulu Selangor.

Document in the National Archives of Malaysia 5126/1916

1915

1916

The Malayan Tin and Rubber Journal 2nd January 1917, Vol. V1 No.1 Chinese Labour on Estates. Summary: (labour shortages, high wages demanded ..report of sub committee on question of Chinese labour.. information derived from reliable sources including “Mr. J. A. Russell, a well known authority on Chinese affairs, who was interviewed by Mr. Wilde” ..conclusions arrived at suitable labour available from China.. recruitment successful through existing Chinese firms attempt to establish labour bureau wouldn’t work.. Government could assist .. cost of importing labour not excessive.. co –operation of estate managers necessary and essential.. co-operation of planters associations needed…. following scheme suggested.. managers of estate import annual specific number of Chinese.. ten per cent of average of 1916.. employed for three years.. returns submitted to planter’s association. Suggestions for labour committee, alternative proposals.. Chinese recruiters terms and conditions.. history of recruitment of Chinese labour in 1910-1912..high wages..individual and private recruiting was agreed.. 1911 High commissioner suggested a Chinese Immigration Fund..planters did not think this useful.. proportion of Chinese coolies on mines to those on plantations is believed to be still as 4 to 1.)

The Straits Times, 21 February 1917, Page 11 0. New Serendah Rubber SEVENTH ANNUAL GENERAL MEETING. Prospects for the Future. The seventh annual general meeting of the New Serandah Rubber Co., Ltd., was held at the company’s registered offices, N 1, Embankment, Kuala Lumpur, on Saturday morning with Mr. F. G. Harvey in the chair, others present being Messrs. R.C Russell, H. L. Jarvis, M.D. Fallon, R. M. Newton, H.N. Ferrers, J. L. Sime, D. H. Hampshire, and A. K. E. Hampshire (for the secretaries, Messrs Boustead, Hampshire and Co. Ltd.) says the Malay Mail. 0. Summary. Chairman presided because of absence of Mr. Macfadyen, moved to adopt accounts and annual report. Crop for year exceeded all expectations, estimated crop for current year 300,000lbs, costs listed on table, dividend 15 per cent. Congestion in ports affecting freight, money invested in war loan fund, company had become a subscriber to Rubber Growers Association. During past years company has made total profit of $510.642 and planted 1,135 and half acres, 41 extra acres added to cultivated area last year. 500 acres of virgin land at back of estate. This land difficult to get at, road about to be constructed from Sungei Tampeian, will be made into separate estate. Superintendent is Mr. Fallon. Mr. Ferrers said: Mr. Macfadyen had to retire from board being compelled to return to England. Keeping money in hand for because of freight difficulties.. some rubber companies had experienced difficulties at the start of the war and had to obtain government assistance but New Serandah had not required assistance, Company’s capitalization compared favourably with most Sterling companies, in good position regarding taxation, Mr. Jarvis proposed and Mr. Fallon seconded the proposal that the retiring directors A. K. E. Hampshire and J. A. Russell be re elected. This was carried unanimously. Vote to give $500 to FMS War relief general Fund and the contribute crepe to fete in aid of St. Dustan's home for Blinded Soldiers and sailors. Votes of thanks.

The Singapore Free Press and Mercantile Advertiser (1884-1942), 5 September 1918, Page 152 A RUBBER COMMISSION. What Government Might Do. From Our Own Correspondent Kuala Lumpur, Aug 30. 0. The Rubber Committee has now been appointed as a Commission, entitled the Rubber Industry Protection Commission. A third meeting was held yesterday. Sub committees were formed at the first and second meetings for the purpose of obtaining necessary statistics. It is understood that the Commission has addressed Government upon matters of immediate importance which can be dealt with apart from the larger issues, e.g. the advisability of the Government declaring its willingness to consider all urgent cases of financial embarrassment and land sums to cover immediate needs, especially as regards coolies wages, on the security of the rubber in stock. Yesterday the Commission took evidence upon various aspects of the questions which may arise regarding labour if the output of rubber is restricted legally. The witnesses were Messrs Kia Peng, J A Russell, Kenny, Aldworth and Clayton. 0. The next meeting of the Commission will be held in Singapore on Sept 8, to take evidence regarding the Singapore auction system.

1917

1918

The Straits Times, 11 October 1918, Page 12 AMALGAMATED MALAY. 0. Conservative Finance Policy Necessary. 0. The second annual general meeting of Amalgamated Malay Estates, Limited, was, says the Malay Mail:- held on October 5, at the company’s registered office, Kuala Lumpur, Mr. F. G. Harvey being in the chair. 0. The Chairman in moving the adoption of the directors' report and accounts said.. this meeting would have been held about the middle of last month had not two of your directors been engaged in the Rubber Industries Protection Commission practically the whole of September. 0. It is a matter of regret that your directors do not feel justified in recommending the payment of any dividend for the year 1917-18. But our cash position must be strengthened in these times of stress so that we may be better able to tide over financial difficulties. Although our profit and loss account shows sufficient profits for a small dividend, your directors have decided not to recommend any distribution at present. And I fear that we can hold out no prospects of a dividend in the near future, for although the regulation of the plantation rubber industry will probably be undertaken at no distant date, the hard cold fact that America has restricted imports in a very drastic and downright manner is bound to affect the returns of nearly all rubber companies for a considerable period. 0. Warning to Optimists. 0. Some optimists seem to think that as soon as peace is signed large buying orders will flood the country, and that the price of rubber will bound up and we shall all be rich again in no time. But full consideration must convince one that readjustments of trade generally after the war will be in most cases not a matter of weeks or months, but of years. 0. However, I do not wish to paint too gloomy a picture, and we will now turn to the general state of our property. Our total planted area is now 1,651 acres, which stands us in at $405,50 per acre as at June 30 1918. Most of this area is now well established and the growth and general condition of our estates is very satisfactory. The 59 acres mentioned as felled will be planted shortly. No further extensions are at present being undertaken. We managed to harvest a total crop of 159,416 lbs rubber during the year against an estimate of 195.000 lbs. The reasons for the short crop are given in our report. With regard to the current year, the manager’s original estimates of crop were 200,000 lbs, but there is a probability of our crop being restricted to 125,000lbs. 0. The yield per acre for the last year was 308 lbs in Jinjang and 235 lbs in Serdang…cost of production.. reduced.. average rubber price.. fell from 101 cents to 69 cents per lb. Every effort.. to make economies.. investment.. in war loans.. may have to be realized… 0. A Cheerful Note 0. …estates are not in far districts… thanks to managers Mr. Bloomfield Douglas and Mr. Meaney…questions… retiring directors Messrs F G Harvey and J A Russell re elected…vote of thanks…directors report and accounts…. profit $46,524,86, company acquired 36 acres planted with one year old rubber…4 acres unplanted…both adjoining the Serdang estate, costs of freight etc…all rubber sold in Singapore 1s 7d per lb, last year the ..price was 2s 4d per lb.

The Straits Times, 19 October 1918, Page 10 Rubber Commission. REPORT ON THE PRESENT CRISIS. Forward Sales. 0. We have already given a summary and a part of the text of the report of the Rubber Commission over which Mr. W. George. Maxwell presided. We now give a third of the text of the report :- (Summary by CG.) 0. 78. Not to interfere with forward contracts 79. Buying and selling by firms in Singapore on behalf of the government… 80. Building of warehouses on railway line suitable for rubber storage… 81 type of warehouse, costs of erecting.. 82. Concerns of deterioration while in storage, 83. Proper storage… 84 preparation before storage. 85. grades for tyres cant be stored.. 86 ….local manufacturers use little… 87. No standards committee as there is in London 88 No standards in Singapore and quality varies from London standards 89 London standards could be adopted in Singapore…90 if Government bought the rubber, it would need certificate or valuation…91. Experts examined about weekly auctions in Singapore.. suitable building for exchange could be found… 92. How organization is controlled.. committee in London…. local producers committees.. 93. Governments opposition to this… 94. HM Gov appointing rubber controller… 95 deputy rubber controllers for Malaya Ceylon and India.. Dutch East Indies controller…96 allocations of orders of rubber consuming countries.. USA 97…rubber controller’s powers over British possessions and foreign countries information… control over output.. controller to communicate directly to Gov of India and Colonial offices.. 98 deputy to supervise buying.. instructions as to sale price.. supervise warehousing shipping and insurance.. purchase of stocks..99 controller should live in Singapore..100. With regard to the problems of unemployment we took the evidence of Messrs. Choo Kia Peng, J. A. Russell, W. E. Kenny, (Senior Warden of Mines F.M.S.) J.R.O. Aldworth (Controller of labour F.M.S.) and L. H. Clayton (Protector of Chinese F.M.S.), From their evidence, and from what we ourselves know at first hand, we are satisfied that there need be little fear of any serious labour difficulties, as the result of restriction of output if ordinary tact is used. Our opinion is that the whole of the Tamil labour will continue to find work on estates. It is the Chinese labour force that will be diminished. The returns of the Chinese labour in 1917 on the rubber estates exceeding 100acres are given in the June number of F.M.S. Agricultural Bulletin as follows:- F.M.S. 53,470, SS 13,919, Jahore 16,795, Kedah, Kelantan and Trenggaan 14,209. 101. Figures differ from labour department… no evidence on how many are tapping or clearing and weeding, majority of tappers are Hylams, who come to do this work and do not like to work in open cast tin mines.. there is employment for them there if a gang is discharged on any estate they will wait until savings are exhausted before taking up any other class of work.. it is during this time that they may prove troublesome….102.,, rate at which tappers are discharged.. undesirable that large numbers should be discharged by several estates simultaneously… 103…. Labour Dept should issue general notice that every employer of labour who proposed to discharge tappers should give early notice to the department of his intention.. 0. .. there is at present no unemployment. 104. The Hyams are an intelligent set of men.. .. if present temporary difficulty is explained..in right way they will probably continue to work at reduced costs..rather than give up taping work.. Mr. Choo Kiap eng suggested that in places like Seremban the best way would be to ask some influential Chinese to get in touch with the kepalas (headmen) …and to have a meeting..at some place like the Seremban Chinese Miner’s Association where the situation could be explained and discussed… 106..financial relief.. protect against forced sales.. High commissioner.. has extended powers… 107 Government should lend money to pay wages using rubber in stock as security… little demand for this at moment.. 108 loans should be made on security of property or mortgage… 109 report based on co-operation with Dutch Government… 110 relief during period ..as result of War.. temporary state of depression… summary of report to be telegraphed to Secretary of State for Colonies…Report Summary covers, existing stocks, production, consumption, restriction of output,, British and Dutch Government should agree to restrict output by law… at rate of 50 pounds per acre..system of licences for estates.. trust formed… minimum price.. standard qualities committee… rubber controller in Singapore… orders through controller.. buying and selling under his supervision… 0. Government should offer to buy rubber.. Letter signed by W. George Maxwell, A.K.E. Hampshire, R.O.M. Kindersley, W. M. Sime, G Gordon Brown, and C. Ritchie.

The Straits Times, 5 March 1919, Page 12 New Serendah Rubber. ANNUAL GENERAL MEETING AT KUALA LUMPUR. Tamils versus Chinese. The ninth annual general meeting of the shareholders of the New Serendah Rubber Co, Ltd was held at the company's registered office, No. 1, The Embankment, Kuala Lumpur, on March 1, says the Malay Mail. Mr. F. G. Harvey presiding. (Summary: director’s introductory remarks, last year’s crops were disappointing.. if Chinese tappers had been kept on still been behind due to influenza. Chinese contract tappers were replaced with Tamils with reduction in costs of production. Satisfactory financial position. Rubber planted by Company from 1911 onwards has very good yielding powers. Labour force short but settled and well trained. Questions on Chinese tappers tapping daily, versus Tamil tappers on alternate days. Dividend of 10% declared. Retiring directors Messrs. A.K.E. Hampshire and J. A. Russell re elected. Votes of thanks.)

The Singapore Free Press and Mercantile Advertiser (1884-1942), 6 January 1920, Page 26 0. TUESDAY, JANUARY 6, 1920. We hear that Messrs. J. A. Russell and Co have purchased Sungei Tua Estate. (M. M)

1919

The Malay Mail, Thursday, March 4, 1920, p.9 New Serendah. The Annual Meeting. A satisfactory Year. The tenth annual general meeting of the shareholders of the New Serendah Rubber Co. Ltd., was held at the Company’s registered office, The Embankment, Kuala Lumpur, yesterday morning. The Hon. Mr. F. G. Harvey presided and there were also present Major H. Gough, Messrs. R. C. Russell, D. H. Hampshire, C. L. Ward and M.D. Fallon. (Summary: Directors report, net profit of $157,265.78, interim dividend 7 1/2 per cent, recc. final divided of 22 ½ per cent, output 337,010 lbs, gross price..estimated crop 1920.. Chairman’s address..issued capital.. balance of shares unissued.. ..funds for planting.. up further 500 acres..rubber..property.. development.. buildings..machinery..debtors..profit and loss.. stationery..legal expenses due to litigation with rice supply agency.. 10 years work on estate..labour force of Tamils..conservative system of tapping.. satisfactory crop.. prices satisfactory.. forward sales.. company formed in 1910, list of dividends for all years..issue of shares..demand for labour greater than ever.. good healthy labour force.. issue of rice at half price..preferential rates on remittances to India by coolies as recommended by P.A.M. and the District Planters Association.. Mr. Fallon manager for many years taking long leave..thanks to him..Mr. Harvey leaving company.. move to adopt reports seconded by Mr. Russell. Other Business. On the proposition of the Chairman seconded by Mr. Russell, it was decided to declare a final dividend of 22 ½ percent, making 30 per cent for the year. Mr. D. O. Russell and Major H. Gough were re-elected directors…vote of thanks to Mr. Fallon.)

The Straits Times, 2 October 1920, Page 9 AMALGAMATED MALAY RUBBER. (From Our Own Correspondent.) Kuala Lumpur, October 1. At the annual general meeting of the Amalgamated Malay Rubber Company Mr. J. A. Russell, who presided, said the position of rubber was not at all clear so there would be no final dividend for the present, but they would probably declare an interim dividend later if the position improved. The extensions had been stopped for the time being. Messrs. Choo Kia Peng, Hampshire, and Russell were re elected directors.

Letter: T.G.S. From: C.W. Harrison, Secretary to the Resident of Selangor, Kuala Lumpur. To: Captain A. S. Jelf, Acting Under Secretary to Government, Federated Malay States, Kuala Lumpur. November 1920. ?el. (2) 5173/1920 Application by Mr. R. C. Russell of Messrs. J. A. Russell and Co., Kuala Lumpur, for agricultural lands. Sir, I am directed to report the receipt of an application by Mr. R. C. Russell of Messrs. J. A. Russell & Co., Kuala Lumpur for agricultural rights over an area of approximately 1500 acres of State land in the Mukim of Serendah as shewn in pink outline on the attached tracing A. Tracing to be returned. 2. The land is available and it is undulating to hilly land suitable for rubber cultivation, adjoining the Rantau Panjang Forest Reserve. The area, may in the near future, be traversed by the proposed road from Kundang to Kuala Kerling and by the continuation of the Kuala Garing Road from Rawang. It is accessible by public road from Sungei Choh and then by access reserves or through Sungei Choh Estate. 3. The applicant is reported to hold no land in the State but has ample capital. 4. I am able to say that the Resident recommends approval on the following terms and special conditions: (a) Premium $100 per acre. (b) Rent $1/- per annum for the first six years and $4/- per annum thereafter. (c) Ten per cent of the area shall be reserved from the cultivation of any products other than annual food crops, such area to be approved and marked on the plan by the collector of Land Revenue. (d) No timber rights (e) one tenth of this area shall be brought under effective cultivation annually from the date of occupation. (f) Labour condition will be that to be approved at the next Conference of Residents. (g) The right is reserved to resume any area required for any public purpose free of compensation other than for such trees of economic value as are destroyed in the execution of any public purpose. I have the honour to be, Sir, Your obedient servant, Secretary to the Resident, Selangor.

Document in the National Archives of Malaysia Ulu Selangor 5173/1920

The Singapore Free Press and Mercantile Advertiser (1884-1942), 2 April 1921, Page 6 and LOCAL WIRES. [Articles] The Singapore Free Press and Mercantile Advertiser (1884-1942), 7 April 1921, Page 211 LOCAL WIRES. K. L. RUBBER MEETINGS. (From Our Own Correspondent.) Kuala Lumpur, April 1. At the New Serendah Rubber Meeting, Mr. A. K. E. Hampshire, who presided, said that the cash resources of the Company were $80,000, but no dividend would be declared. The crop was being restricted by 50 per cent. Messrs. Ferrers and Hampshire were re-elected directors. The Kamasan Rubber meeting was presided over by Mr. E. W. Tyler, who said that the cash position of the Company was exceptionally strong. The crop estimate was half the normal, and it was anticipated that there would be a monthly loss of $500 on the present price of rubber. The directors intend to adopt alternate day tapping. Messrs. J. A. Russell and Kennaway were re-elected directors.

The Singapore Free Press and Mercantile Advertiser (1884-1942), 30 December 1920, Page 403 0. RUBBER CRISIS. RECOMMENDATIONS OF COMMITTEE. LEGISLATION REQUIRED. 0. (From Our Own Correspondent.) 0. Kuala Lumpur, Dec 29. 0. To-day's rubber meeting resolved nem con "That this meeting of representatives of all planting associations in Malaya and other bodies in Malaya, having interest in the rubber growing industry, approves and supports the recommendations formulated by the special committee which met on Dec. 19th at Kuala Lumpur” 0. The following is a report of the meeting held on 19th December:- 0. A special Committee formed at the suggestion of the Chief Secretary to consider and recommend measures to help meet the present position of the rubber producing industry met in Kuala Lumpur on Dec .19th says the Malay Mail. There were present:- The Hon. W. Duncan Chairman, the Hon. H. P. Clodd, the Hon. R. C. M Kindersley, Mr. W. Lowther Kemp, The Hon. Mr. John Mitchell, Messrs. T. J. Cumming, N. Freeman, J.S. Ferguson, V. Gibbons, C.D. Mathewson, C. Ritchie, J. A. Russell and Major W. M. Sime O.B.E. 0. After discussion the following recommendations were unanimously adopted: 0. 1. That in view of the necessity for immediate action the most effective remedy for the present condition of affairs is to prevent by legislation rubber being put on the market. 0. 2 That it is most desirable that other countries (Ceylon, the Netherlands Indies, etc.) should take similar action, and that Government be requested to approach them on the subject, but that, without waiting for the result of this, legislation in Malaya is essential, and such legislation should be introduced as soon as possible and be operative from Jan 1st, 1921. 0. 3. That as the primary object of legislation is to reduce production as well as stocks, restriction of collection would be the most desirable method, but if this is considered impracticable, restriction should be effected by prohibition of export except under permit, or by a prohibitive duty on rubber exported in excess of the restricted allowance. 0. 4. That the restricted allowance for the period from Jan 1st 1921 to June 30th 1921, should be 50 per cent of the actual production of the corresponding period in 1920. In cases where authentic figures are not obtainable the allowance should be fixed by Boards to be established, or by District Officers, as the case may be, and should not exceed 80lbs. per acre for the 6 months in question. Cases in which the above rules may apply unfairly should be dealt with by boards, who should also have discretionary powers to deal with abnormal cases. 0. That no exemption of small holdings should be made for the following reasons:- 0. (a) The small holder is not an exporter but sells to a dealer. 0. (b) It is essential to the success of the scheme that all rubber exported should be identified. 0. (c) Whether small holdings are, or are not included, some machinery for such identification is necessary, though it would be neither possible nor essential to a avoid all leakage. 0. 6. That the ports of Singapore and Penang should left free for the import and export of local foreign rubber, but that means should be found to include in the scheme of restriction rubber produced in these islands. 0. 7. Financial assistance required for mature areas should be granted conditionally on cessation of all production for 6 months from the date when the loan is granted. 0. 8. That financial assistance should be given if possible to immature areas of 2 and half years or over. 0. 9. That the extent of financial aid given should not exceed $3.00 per acre per month. 0. 10 That applications for help should for the present be considered by the Planter’s Loan Board. 0. 11. That with regard to security the Committee hopes that, where a first charge is impossible, individual cases will be dealt with on their merits. 0. 12. That no dividends should be declared until loans are repaid and that 50 per cent of all nett profits should be applied to repayment. 0. 13. That for the present simple interest should be calculated half yearly at 7 per cent per annum and added to the loan. 0. To make the foregoing recommendations operative legislation would have to be introduced in the Colony, and the Federated and non-Federated States. Their adoption would in the opinion of the committee affect other features of the present position and it was unanimously agreed that the following opinion and additional recommendations (not requiring legislation) be submitted: 0. (1) A reduction of output to 50 per cent of 1920 crops would make it impossible for many estates to employ as much labour as they now employ and the result would be an increase in the number of labourers released. 0. (2) The Committee believes that Chinese labour is even now finding its way back to China in considerable numbers and that this depletion of that class of labour will continue. They, however, consider it likely that there will remain in this country for some months fair numbers of Chinese who will find it difficult to procure work. 0. (3) Indian labourers are less independent than Chinese and will to a great extent look to their employers and to the Government for employment. Moreover as Indians as a class are considered to be more suitable generally than the Chinese as permanent workers on estates the committee are of the opinion that effort should be made by employers and by Government to retain them here and to provide them with employment. 0. (4) In view of the above opinions the Committee urge that Government take action as soon as possible to provide relief works for a portion of the labour which is likely to be thrown out of employment. Such works in the opinion of the Committee should include anti-malaria measures, the widening and putting into good repair of some of the existing roads, the making of new roads, extensions to railways and the carrying out of any other public works. The Committee will take steps to appeal to employers to do what they can within their financial power to avoid discharging labour. 0. (5) The committee believe that all classes of labourers in this country fully realize the gravity of the present situation and that they would be content to work temporarily at rates of wages which would provide them with the bare necessities of life. In that belief they recommend that Government call upon all labour employing departments to reduce wages temporarily. 0. (6) The Committee are of the opinion that a further reduction in the price of rice would tend to reduce the cost of living generally and that any additional loss which the government would incur by doing so, would be counterbalanced by lower wages payable and by a reduction in the price of contract labour and of locally produced materials. They therefore recommend a reduction in the price of rice as from Jan 1st 1921 and also the discontinuance of the rice allowance now granted to labourers and subordinate employees. 0. (7) The Committee believe that the Indian Immigration Committee have a large balance at credit in their fund and recommend that payment of assessment due in respect of the 4th quarter of 1920 be waived, and that also that payments due to employers, as recruiting rebate for the same period be cancelled. 0. The Committee recommend that until such time as statistics are available from which a reliable forecast of the future of the rubber industry can be formed, no further areas of land should be alienated for rubber. 0. (9) The Committee recommend that for a time and as a measure of financial relief land rents be made payable and colleted twice a year, on 1st June and 1st December. 0. It was decided to call through the medium of the Press, a meeting of representatives of all planting associations in this country to be held in Kuala Lumpur on Wednesday Dec 29th at 11.30 am at which the Committee’s recommendations be submitted for approval and acceptance. 0. A Sub–Committee consisting of Messrs. Clodd, Lowther, Kemp, Gibbons and Duncan were appointed to take steps to have the recommendations of the Committee elaborated and presented to Government in the form of a concrete scheme.

The Straits Times, 23 March 1921, Page 7 Federated Malay States Enactment No. 20 of I9l7 (Section 204). . NOTICE OF VOLUNTARY LIQUIDATION. JERANTUT PLANTATIONS, LIMITED At an extraordinary general meeting of the members of the above named Company, duly convened and held at the Registered Offices, Hongkong and Shanghai Bank Buildings, Kuala Lumpur, on Monday, February 28, 1921, the following Extraordinary Resolution was duly passed: “That the Company be wound up Voluntarily” And at further extraordinary general meeting duly convened and held at the same place on Tuesday, March 15, 1921, the above extraordinary resolution was duly confirmed as a special resolution, and the following extraordinary resolution was passed:- “ That Henry David Brown and Hubert Harry Robbins, both of Hongkong and Shanghai Bank Buildings, Kuala Lumpur, be and they are hereby appointed Liquidators jointly and or severally for the purposes of such winding up. J.A. Russell, Chairman. Dated March 15, 1921. 0. Below this notice the creditors are told to contact the liquidators, and another notice states that meeting of creditors is to take place on April 4, 1921 at 11 o ‘clock.

1921

The Singapore Free Press and Mercantile Advertiser (1884-1942), 8 April 1921, Page 12 and RUBBER RESTRICTION. [Articles] The Singapore Free Press and Mercantile Advertiser (1884-1942), 14 April 1921, Page 230 RUBBER RESTRICTION. THE PROPOSED MEASURES. WHAT THE INDUSTRY SUGGESTED. In connection with the schemes for rubber restriction and the reply of the Home Government to the Straits Government recently negativing publication of any proposed Government measure but raising no objection to non-government publication of suggested measures, we have received from the Hon’ble Mr. Duncan a series of documents dealing with the matter including recommendations, schedules a draft bill etc. 0. It is impossible owing to limitations of space, to produce these in entirety but as the matter is of great public interest we have selected from the documents those which appear to deal adequately with the schemes considered and have omitted thee actual draft of the bill and a mass of more technical matter. 0. Hon’ble Mr. Duncan to Hon’able Chief Secretary F.M.S. 0. Sir:- I have the honour to recall to your memory that a Committee representative of the rubber growing industry of Malaya met at Kuala Lumpur on 19th December, 1920, and formulated certain recommendations aimed at restricting the output of rubber, and rendering financial assistance to producers under certain conditions. 0. 2. At a public meeting called through the press, held at Kuala Lumpur on December 29th, and attended by 75 persons representing home and local rubber interests, the recommendations above, mentioned were submitted and unanimously endorsed by Resolution. 0. 3. At the same meeting, a sub-Committee was appointed to embody the recommendations in a complete scheme to be submitted to the Governments of the Colony and the Federated Malay States for their consideration. The sub-Committee comprised the following:- The Honourables Mr. W. Lowther Kemp, and H. P. Clodd, Major W. M. Sime O.B.E., Mr. V. Gibbons and the writer. 0. 4. This sub- Committee took preliminary steps at once, and on 11th and 12th January 1921 at Singapore, with the help of the Honourable Mr. D. Y. Perkins as legal advisor, framed a draft scheme. 0. 6. The scheme comprises the following:- 0. (Summary, restrict exports, set of 29 rules, 10 schedules, reasons for both, 8 rules for guidance of committees issuing certificates of production, draft telegram, with all points of the scheme.) 0. 7. The question of financial assistance has not been included in this scheme and will be dealt with separately. 0. 8. The main features of the scheme as now presented have the support of the Council of Rubber Growers Association in London and, as evidence of that support, I enclose copies of six cablegrams (not printed) which have passed between Mr. Eric Miller and the Secretary of the Rubber Growers Association on the one side and myself on the other. 0. 9. As the attitude of the Government towards the scheme now submitted is all important to the rubber growing industry in Malaya, as well as the general public, I should, on behalf of the sub–committee and the industry, feel grateful if you could see your way to treat your consideration of the documents as an urgent matter. 0. 10. I would add that I shall hold myself in readiness to wait upon the Government at any time and give any information or explanations regarding the scheme which I can. 0. Details of Committee Action. 0. A special Committee formed at the suggestion of the Chief Secretary to consider and recommend measures to help meet the present position of the rubber producing industry met in Kuala Lumpur on Dec .19th Present:- The Hon. W. Duncan Chairman, the Hon. H. P. Clodd, the Hon. R. C. M Kindersley, Mr. W. Lowther Kemp, The Hon. Mr. John Mitchell, Messrs. T. J. Cumming, N. Freeman, J.S. Ferguson, V. Gibbons, C.D. Mathewson, C. Ritchie, J. A. Russell and Major W. M. Sime O.B.E. 0. After discussion the following Recommendations were unanimously adopted: 0. 1. That in view of the necessity for immediate action the most effective remedy for the present condition of affairs is to prevent by legislation rubber being put on the market. 0. 2 That it is most desirable that other countries (Ceylon, the Netherlands Indies, etc.) should take similar action, and that Government be requested to approach them on the subject, but that, without waiting for the result of this, legislation in Malaya is essential, and such legislation should be introduced as soon as possible and be operative from Jan 1st, 1921. 0. 3. That as the primary object of legislation is to reduce production as well as stocks, restriction of collection would be the most desirable method, but if this is considered impracticable, restriction should be effected by prohibition of export except under permit, or by a prohibitive duty on rubber exported in excess of the restricted allowance. 0. 4. That the restricted allowance for the period from Jan 1st 1921 to June 30th 1921, should be 50 per cent of the actual production of the corresponding period in 1920. In cases where authentic figures are not obtainable the allowance should be fixed by Boards to be established, or by District Officers, as the case may be, and should not exceed 80lbs. per acre for the 6 months in question. Cases in which the above rules may apply unfairly should be dealt with by boards, who should also have discretionary powers to deal with abnormal cases. 0. 5. That no exemption of small holdings should be made for the following reasons:- 0. (a) The small holder is not an exporter but sells to a dealer. 0. (b) It is essential to the success of the scheme that all rubber exported should be identified. 0. (c) Whether small holdings are, or are not included, some machinery for such identification is necessary, though it would be neither possible nor essential to a avoid all leakage. 0. 6. That the ports of Singapore and Penang should left free for the import and export of local foreign rubber, but that means should be found to include in the scheme of restriction rubber produced in these islands. 0. 7. Financial assistance required for mature areas should be granted conditionally on cessation of all production for 6 months from the date when the loan is granted. 0. 8. That financial assistance should be given if possible to immature areas of 2 and half years or over. 0. 9. That the extent of financial aid given should not exceed $3.00 per acre per month. 0. 10 That applications for help should for the present be considered by the Planter’s Loan Board. 0. 11. That with regard to security the Committee hopes that, where a first charge is impossible, individual cases will be dealt with on their merits. 0. 12. That no dividends should be declared until loans are repaid and that 50 per cent of all nett profits should be applied to repayment. 0. 13. That for the present simple interest should be calculated half yearly at 7 per cent per annum and added to the loan. 0. Legislation needed. 0. To make the foregoing recommendations operative legislation would have to be introduced in the Colony, and the Federated and non-Federated States. Their adoption would in the opinion of the committee affect other features of the present position and it was unanimously agreed that the following opinion and additional recommendations (not requiring legislation) be submitted: 0. 1. A reduction of output to 50 per cent of 1920 crops would make it impossible for many estates to employ as much labour as they now employ and the result would be an increase in the number of labourers released. 0. 2. The Committee believe that Chinese labour is even now finding its way back to China in considerable numbers and that this depletion of that class of labour will continue. They, however, consider it likely that there will remain in this country for some months fair numbers of Chinese who will find it difficult to procure work. 0. 3. Indian labourers are less independent than Chinese and will to a great extent look to their employers and to the Government for employment. Moreover as Indians as a class are considered to be more suitable generally than the Chinese as permanent workers on estates the committee are of the opinion that effort should be made by employers and by Government to retain them here and to provide them with employment. 0. 4. In view of the above opinions the Committee urge that Government take action as soon as possible to provide relief works for a portion of the labour which is likely to be thrown out of employment. Such works in the opinion of the Committee should include anti-malaria measures, the widening and putting into good repair of some of the existing roads, the making of new roads, extensions to railways and the carrying out of any other public works. The Committee will take steps to appeal to employers to do what they can within their financial power to avoid discharging labour. 0. (5) The committee believe that all classes of labourers in this country fully realize the gravity of the present situation and that they would be content to work temporarily at rates of wages which would provide them with the bare necessities of life. In that belief they recommend that Government call upon all labour employing departments to reduce wages temporarily. 0. Rice Reduction Recommended 0. (6) The Committee are of the opinion that a further reduction in the price of rice would tend to reduce the cost of living generally and that any additional loss which the government would incur by doing so, would be counterbalanced by lower wages payable and by a reduction in the price of contract labour and of locally produced materials. They therefore recommend a reduction in the price of rice as from Jan 1st 1921 and also the discontinuance of the rice allowance now granted to labourers and subordinate employees. 0. (7) The Committee believe that the Indian Immigration Committee have a large balance at credit in their fund and recommend that payment of assessment due in respect of the 4th quarter of 1920 be waived, and that also that payments due to employers, as recruiting rebate for the same period be cancelled. 0. (8) The Committee recommend that until such time as statistics are available from which a reliable forecast of the future of the rubber industry can be formed, no further areas of land should be alienated for rubber. 0. (9) The Committee recommend that for a time and as a measure of financial relief land rents be made payable and colleted twice a year, on 1st June and 1st December. 0. It was decided to call through the medium of the Press, a meeting of representatives of all planting associations in this country to be held in Kuala Lumpur on Wednesday Dec 29th at 11.30 am at which the Committee’s recommendations be submitted for approval and acceptance. 0. The question Of Financial Help. 0. Letter from Hon’ble Mr. Duncan to Chief Secretary F.M.S. 0. Sir, - In relation to my letter to you of this date (Jan. 25) on the subject of restriction of rubber production and exports, I have now the honour, on behalf of the rubber restriction sub-Committee, to address you on the subject of financial assistance to rubber producers in the Federated Malay States. 0. 2. In the minutes of the meeting of the special Committee held at Kuala Lumpur on 19th December 1920 (copy of which I sent you to-day) the views of the members of that Committee in regard to the question of financial assistance are expressed in recommendations 7 to 13 inclusive thereof. 0. 3. At a public meeting held in Kuala Lumpur on 29th December 1920, these recommendations were approved. 0. 4. At an informal meeting held at Carcosa on 4th January 1921 at which were present five of the six members of the Federal Council, the recommendations referred to above (not printed) were discussed, and the following general opinions of the unofficials present were arrived at:- 0. (a) That no financial assistance should be given in respect of areas of rubber planted after 1st January 1918; (b) That no assistance be given to any Company or Syndicate that paid a dividend since 1st July 1920; (c) That in recommendation 10 of the minutes referred to, the words “ the Planters Loans Board” should be deleted, and the words “ A Central Committee to be appointed” substituted therefore; (d) That in recommendation 11 of the minutes referred to all the words following “Committee” in the first line should be deleted, and the following words substituted “ recommend that every loan should be secured by charge”; (e) That in recommendation 12 the figure 7 should be substituted by the figure seven and half. 0. 5. The members of the sub-Committee fully realise that Government have not got unlimited funds at their disposal, and that any measure of financial assistance rendered must of necessity be limited. They believe, however, whether restriction is enforced by law or not that timely financial assistance would save some deserving producers from ruin, and that such assistance is justifiable and defensible in the interests of the rubber industry and of the General Public. 0. 6. The sub-Committee, therefore, suggest that Government should, without delay, take action on the following lines:- 0. I. Let it be known publicly by notification in the Government Gazette and in the press that Government will consider applications for financial assistance on the following conditions- 0. (a) All applications to be made on the proscribed form to be had on application from District Officers. 0. (b) All executed application forms to be lodged with the District Officer of the District in which the land is situated in which the land is situated on which the loan is required. 0. (c) That loans granted in respect of areas in bearing must be on condition that tapping ceases on such areas for a period of 6 months from the date of the payment of the first installment. 0. II. Let it be known publicly in the above manner that no loans will be granted in respect of, or to:- 0. (a) Areas planted after 1st January 1918 0. (b) Companies, Syndicates or individual owners that have paid dividends since July 1920 or who cannot show that their need for a loan has arisen through the present depression in the rubber market. 0. (c) Companies, Syndicates or individual owners that cannot offer adequate security. 0. III. Instruct District Officers, to grant application forms on request, to receive executed application forms, scrutinize and comment on them, and forward them to a Central Committee to be appointed. 0. IV. Appoint a Central Committee to comprise:- 0. A Class 1. Government Officer as Chairman, two Planters, one Merchant, A secretary. 0. This committee would receive all applications which would be forwarded with their comments by the District Officers; would in consultation with Government and with the approval of the Chief Secretary, decide as to the amount of money which could be spared and grant loans to that extent in a manner which, In their opinion would be in the best interests of the industry and the public. 0. 7. I enclose a copy of a form drawn up by the sub-Committee, which we consider would give all the information necessary to enable District Officers to make valuable comments and the Central Committee to make decisions. 0. 8. In conclusion, I would say that the sub-Committee are of the opinion that the question of financial aid should be considered apart from that of restriction of rubber production and export and would request that Government consider favorably the desirability of taking some prompt action with a view to allaying the uncertainty which at present exists in the minds of many in regard to the Government’s intentions.

The Straits Times, 23 March 1922, Page 10 New Serendah Rubber. The Financial Position Quite Sound. The twelfth annual general meeting of this company was held at the registered office of the Company 1, Embankment, Kuala Lumpur, on Tuesday, with Mr. J. A. Russell in the chair, others present being Major Russell F. Grey, Major H. Gough, Messrs. A.K.E. Hampshire, D.H. Hampshire, C.A.L. Ward and M.D. Fallon. The representatives of the Secretaries, Messrs. Boustead and Co., Ltd. Having read the notice convening the meeting the chairman addressed the meeting as follows:- 0. Gentlemen, - Following the usual course, I will take the report and accounts as read. There is little that it is necessary for me to say in explanation of them, for you will find contained in the report most of the figures and particulars which you may require to form an idea of the recent position of the company. I think that all I really need add this afternoon is to say that the financial position of the company is quite sound. I greatly regret that it is not possible for your directors with prudence to recommend the payout of a dividend. It would be unwise to do so at a time like this, and so to jeopardize the future safety of your property. Our liquid investments and cash at Bankers to-day total $72.000, and we estimate that if it becomes necessary to cease tapping entirely, this sum will enable us to keep the estate in first class condition for a period of quite three years. We hardly think that the worst in the depression of the rubber plantation industry is likely to last for a longer time than this. Our buildings, factory and machinery have been well written down in the course of the past years, a rough valuation at the end of 1921 putting them at $90.000 against the $13.381 at which figure they stand in our books. As, however, in the event of liquidation, other than by selling the estate as a “going concern”, they would have little realisable value. I should really like to see them stand at the nominal figure of $1 and I trust that in time they will actually do so. 0. Restriction Policy. 0. Owing to the Company’s policy of restriction the loss on the year’s working is heavy, but had the company tapped all out it could undoubtedly have made a profit. Your directors however have considered that as this company can afford to restrict, in the interests of the rubber industry as a while it should most certainly do so. The rest from which the trees are benefiting will probably eventually more than repay us. In considering this loss, shareholders must also bear in mind that in conformity with the Board’s established policy extending over the last 6 years all expenditure on account of general charges is charged against Revenue, if the proportion expended on immature areas were charged against Capital, the loss on the year’s working would have been reduced approximately to $14.000. Although every possibly economy has been and is being exercised, it is not being exercised to the detriment of the estate which has been fully upkept during the past year, cultivation by means of silt pits has been carried out throughout the immature area. Bud grafting of 100 acres of immature rubber is not yet quite complete but it shortly will be so. I can think of nothing further to say, but should shareholders present like to question me about points on which they are in doubt, I will do my best satisfactorily to answer them. 0. A Development Reserve 0. Mr. Ward suggested that an amount should be transferred from Profit and Loss account to a Reserve for Development account, as this would make the position of the Company clearer. 0. The Chairman replied that this would receive the consideration of the Directors. 0. Mr. Ward asked some other questions in regard to the balance sheet and profit and loss account to which the chairman replied. On the proposition of the Chairman seconded by Major Russell Grey the report and accounts were adopted and passed. 0. Mr. J. A. Russell was re-elected a director and Major Russell Grey was appointed to fill the other vacancy on the Board. 0. The retiring auditors Messrs. Neill and Bell were re-elected. 0. The Report 0. The following is the report of the Directors:- 0. Acreage Statement.- Mature Rubber 1,064.7 acres, Rubber Planted 1915, 30.0 acres, 1916 41.0 acres, 1917, 41.9 acres, 1918 15.0 acres, 1920 100.0 acres, total planted area 1,292.6 acres; Reserve Jungle 504.7 acres; Swamps 23.4; Building Sites 15.4; Total acreage 1,836.1 acres. 0. After providing for depreciation the loss for the year amounts to $19,765.43. The balance profit brought over from the previous year is therefore reduced to $99,572.39 which your directors recommend to be carried forward. 0. Crop,- The crop harvested for the year was 202,501 lbs against an estimate of 372,350 lbs. In February it was decided to voluntarily restrict and an area of 585 acres was taken out of tapping round and rested right through the year which accounts for decreased output. 0. Costs.- The all- in cost per lb was cts. 41.08 and the gross price realized was 30.37 cts. per lb. It is to be noted that 100 per cent of general charges has been charged to revenue.

The Singapore Free Press and Mercantile Advertiser (1884-1942), 5 May 1921, Page 282 0. THE RUBBER CRISIS. FURTHER CORRESPONDENCE. The following has been forwarded to us for publication. The Chief Secretary, F.M.S. 0. Sir,- I have the honour to inform you that a meeting of representatives of the Rubber Growing Industry in Malaya was held at Kuala Lumpur on Sunday the 17th instant. 0. (2) The names of those present by invitation are given on a list attached hereto and marked Appendix A. They included the members of the Rubber Restriction Committee, the Chairman of the Planters’ Association of Malaya: three representatives of the Chinese Rubber Planting interests; several proprietary Rubber Planters: a few individuals representing their own interests as shareholders: seven representatives of Commercial and Agency firms, and one or more representatives of the Rubber Producers Association of Malaya (Singapore), the Local Committee of the Rubber Growers’ Association (London), and of ten of the Planters’ Associations throughout the F.M.S. and colony. 0. (3) The primary objects of the meeting were: 0. (a) To decide what- if any- further effort should be made to bring about a further reduction in the output of Rubber from this country in the event of compulsory restriction not being acceded to, and 0. (b) To devise what steps- if any- should be taken to carry out the findings of the Meeting. 0. (4) In the early stages of the meeting a unanimous opinion was elicited that further reduction of output was imperative, if accumulation of world’s stocks of raw rubber was to be reduced or even arrested. 0. (5) Figures derived from two different sources were submitted to the meeting which indicated that stocks of raw rubber as at 1st January, 1921, amounted to approximately 300,000 tons. A third set of figures relating to stocks drawn out by a reliable London firm were available, but were not submitted to the meeting because they were widely published and well known. 0. The three sets of figures are summarized on a separate statement attached to this letter and marked Appendix B. 0. (6) Discussion too place on the practicality of further reducing output by combination among producers. It was submitted that an area is bearing in Malaya of 432,094 acres represented by the Rubber growers’ Association (London), restriction by 25 per cent of normal crops was being effected. It was further stated that the Rubber Growers Association of Malaya, (Singapore) which represents about 146,000 planted acres (of which 78,850 were in bearing at the end of 1920) was satisfied that its members were curtailing output by more than 25per cent of normal output. 0. Mr. Choo Kia Peng on behalf of the Chinese present stated that that on some of the large Chinese estates only half of normal crops were being collected and that on most, some reduction in output was being made. It was also brought out that on a fair number of estates production had temporarily ceased. 0. A note in the India Rubber Journal of 12 March was read in which it was stated that in February 1921 the crops harvested from 74 estates (the outputs from which they were published) were less than those harvested in the same months of 1920 by 14.3 per cent. 0. (7) After several of those present (including Mr. Choo Kia Peng, on behalf of the Chinese) had addressed the meeting, the opinion was arrived at unanimously that an appeal for voluntary restriction to those producers not now practicing restriction would not be successful. 0. It was felt that a large number of the class of producers who have no hitherto adopted or adhered to any laid down policy of restriction are so placed, financially and otherwise, that they could not be expected to carry out any specific promises they might make, but of necessity must follow ordinary economic laws, i.e. they will cease to produce when prices are below a certain level and tap their trees again when prices are over a certain level. 0. (8) The question of Compulsory Restriction was then again discussed and the following resolution was unanimously adopted:- 0. “That this meeting is in favour of the introduction of Legislation by the Government of the F.M.S. and Straits Settlements on the lines of the draft Enactment and draft Scheme for Financial Aid submitted to Government by the Restriction Committee in January last” 0. (9) I was asked by the meeting to pass the above Resolution on to Government with a request that its sense be cabled forthwith to the Secretary of Sate. 0. (10) The meeting desired me to make it quite clear to Government that the representatives of Agency firms who voted for the Resolution did so as private individuals, and that their views must not be held to represent those of the Companies or individuals for whom they act as agents. 0. (11) I was further requested by the Meeting to ask your Government to be good enough to say whether the support given, both in this country and in London, to the request for legislative action to reduce rubber outputs is sufficient to convince Government of the general desire on the part of the Malayan Rubber Growing Industry, for such legislation, and, if not, to ask Government to say what further action should be taken by the representatives of the Industry to elicit such evidence. W. DUNCAN, Chairman Rubber Restriction Committee 0. Present at the meeting. 0. J. W. Kennedy, Chairman, P.A. M. 0. C. Alma Baker, Proprietor, Kinta Valley and Pondok Tanjong Estates. 0. R.C. M. Kindersley, Kajang R.G.A. Local Committee 0. J.M. Sime, Chairman R.P.A.M. 0. C.B. Graburn, Batang Padang D.P.A. 0. E.L.D. Evans, Chairman C.P.P.A. 0. W. Gordon Graham, Secretary B.P.D.P.A. 0. Goh Hock Huat, Klang Chinese Planters’ Association 0. G. R. L’Estrange, Secretary, K.S.D.P.A. 0. A. N. Carey, Chairman K.S.D.P.A. 0. J. S. Ferguson, Proprietor Planter. 0. C. Bradbury, Chairman Jahore P.A. 0. H. Armstrong, K.L. D.P.A. 0. W.R.C. Gray, Lower Perak P.A. 0. T.J. Cumming, Chairman, Klang D.P.A. 0. Hon. Mr. John Mitchell, Barker and Co., Ltd., Restriction Committee 0. C.H.A. Huxable, Ula Selangor D.P.A. 0. A .C. Hayton, Kajong D.P.A. 0. C. Ritchie, N.S.P.A. 0. C.B. Towill, Guthrie and Co., Ltd. 0. A.E. Baddeley, Guthrie and Co., Ltd. 0. A.K.E. Hampshire, Boustead and Co., Ltd. 0. C. R. Thurston, Cumberbatch and Co., Ltd, 0. E.J. King Harman, Klang D.P.A. 0. Loh Kong Tunn, Tanah Merah ( N.S.) Estate. 0. F. Sanders, Whittall and Co. 0. J. A. Russell, K.L Restriction Committee 0. Keightley Smith, Selangor 0. Hon. Mr. J. W. Campbell, Malacca P.A. 0. H. N. Ferrers, Kuala Lumpur. 0. Choo Kia Peng, Kuala Lumpur. 0. G. A. Potts, Barker and Co., Ltd., S’pore 0. C.D. Mathewson, Harrisons and Crossfield Ltd., Kuala Lumpur, (Restriction Committee) 0. D. Philips, Harrisons and Crossfield Ltd. 0. Figures Relating to World’s Stocks, Production and Consumption of Raw Rubber. 0. The figures quoted below under Set 1 are abstracted from those submitted by the Rubber Growers Association (London) to the Secretary of State on March 14th 1921, those given under Set II were complied in Singapore, and those given under Set III were taken by Messrs. Symington and Sinclair, London. 0. Estimated World’s Stocks considered necessary for Trade purposes. 0. Estimated Real Surplus not required 0. Estimated World’s production for 1921 0. Totals. 0. Estimated Consumption for 1921 0. Estimated Real Unwanted Surplus at end of 1921 0. Add necessary stocks as above 0. Estimated Actual Stocks as at 30 December 1921 0. (1) Based on Normal Production with no restriction. 0. (2) Based on 331-3 per cent economic reduction from normal figures. 0. (3) Based on Production ceasing on one- fourth of Eastern Plantation areas. 0. (4) Based on U.S.A. consuming 177,000 tons 0. (5) Based on U.S.A. consuming 225,000 tons. (Figures given in table)

1922

The Straits Times, 5 April 1922, Page 11 UTAN SIMPAN RUBBER. Sound Financial Position Reported. The twelfth annual general meeting of the Utan Simpan Rubber Co. Ltd., was held at the registered office of the company, 1 Embankment, Kuala Lumpur, on Saturday with Mr. V. Utterson Kelso in the chair. The others present were Messrs. A. K.E. Hampshire, M.D. Fallon, R. M. Newton, W.E.H. Ross, F.S. Gread, and Mr. B.G.H. Johnson representing the Secretaries Messrs. Boustead and Co. 0. After notice convening the meeting was read the chairman addressed the meeting as follows:- (Summary: profit for year $13,828.78, cash reserves, should selling price of rubber go below a figure where it no longer pays to tap the reserves should last 2 years or more, trees healthy and well, property in good condition, costs of tapping slightly higher than on some estates due to lay of the land and fact that all labour is Chinese. “ It would be unwise to attempt at present to exchange a well established Chinese labour force for a Tamil force which would probably drift away as soon as conditions improved” come through an anxious and difficult period, stronger position than when they started.) The retiring directors Messrs. J. A. Russell and A.K.E. Hampshire were re -elected, as also the auditors Messrs. Neil and Ball.

The Straits Times, 5 April 1922, Page 11 KAMASAN RUBBER. Profit Earned for The Year. The twelfth annual general meeting of the Kamasan Rubber Co. Ltd. was held at the registered office of the company, 1, Embankment, Kuala Lumpur, on Saturday with Mr. K. W. Tyler in the chair, others present being Messrs. M. J. Kennaway, J. A. Russell, A.K.E. Hampshire, C.G. Trotter and Mr. G.H. Johnson representing the Secretaries Messrs. Boustead and Co., Ltd.. (Summary. Have liquid cash $67,000, in strong financial position, and can carry on for some years if tapping has to stop. Difficult time during last year, continually depreciating price of rubber, profit has been earned for the year, dividend of 5 per cent for year ending Dec 31 1921. Estate in good order, large sum spent on drains, enough labour, health of coolies good, cost of caring for sick coolies very small, they are one of the members of a group hospital in the district and the greater part of the medical expenditure is the upkeep of the hospital. Few pests on the estate, only disease is brown bast. Thanks to Mr. C. G. Trotter in charge of estate.)

The Straits Times, 14 October 1922, Page 10 AMALGAMATED MALAY. Big Reduction in All In Costs Reported. The sixth annual general meeting of the Amalgamated Malay Estates, Ltd., was held at No. 1, Embankment, Kuala Lumpur, on Wednesday, October 11, 1922, with Mr. J. A. Russell in the chair. After notice convening the meeting had been read by a representative of the secretaries, Messrs. Boustead and Co. Ltd., the chairman addressed the meeting as follows:- 0. The report and accounts having been in your hands for the proscribed period, I will with your consent adopt the customary course of taking them as read. 0. I regret to have to say that you directors are obliged in view of the present state of the rubber market again to make no recommendation as to the payment of a dividend, but it is nevertheless pleasing to note that notwithstanding the depressed position of the plantation industry, the company has been able to make a small profit. When the comparatively large area of immature rubber which the company owns be considered, the making of a profit, however small it may be, is a matter upon which the company can justifiably congratulate itself. In order during this crisis to make the company pay its way, every economy has been effected in the working of the estates; but although there are certain works we should like to see done but at the present moment we have had to defer putting into hand, I can assure you that the economy to which I have referred has not been allowed in nay way to interfere with the essential upkeep of your property, a property which I am glad to be able to say is in very excellent condition. 0. Young Rubber’ Good Growth. 0. The young rubber upon the Serdang Estate shows very fine growth and much of it is already of a tappable age, and your directors are now considering bringing into tapping 238 acres of the 1916 planting. 0. I should like, if you will permit me to do so, to direct your attention to the low costs of your production. You will observe from the figures contained in the report that the all-in cost, including depreciation, freight, sale charges and directors fees, is 20.37 cents or 5.7d per lb. as against 37.33 cents or 10.45d per lb. the previous year. Even if the whole of the upkeep of the immature areas be taken into calculation, the total cost on the estates works out at only 26.9 cents per lb. against the gross price realized of 27.02 cents per lb. Without taking into consideration in any increased crop due to including in the tapping round 238 acres to which I have already referred, the estimated output for the current year from both estates is 254.000lbs. at an f.o.b. cost of 16.32 cents or 4.57d per lb., while the total estimated upkeep of our estates, including the immature areas, for the current year is 26.77 cents per lb. I should like to mention that these estimated costs are dependent upon there being no increase in the wages of labour. If, without the introduction of restriction, the price of rubber was to rise, there would be a demand for labour which would inevitably upset our estimates but against this we should of course be obtaining higher prices for our product. 0. General Manager’s Retirement. 0. I greatly regret to inform you that the health of Mr. Bloomfield Douglas broke down in January and that he obliged to resign his General Management of the Company. Mr. Bloomfield Douglas has been our general manager since the formation of the company and your Board were very distressed to lose his services, and sincerely trust that he will entirely regain his former health and vigour. No general manager has been appointed in his stead, but Mr. N. C. Athorne has been made manager of the Jinjang Estate, while Mr. R .C. Evans continues as Manager of Serdang Estate. Mr. I. H. Armstrong has been appointed Visiting Agent to both properties. The Board are particularly pleased with the work of both Mr. Evans and Mr. Athorne, and I wish to take this opportunity of voicing our thanks to them in which I am sure you will join me. I would also like to record an expression of sympathy and condolence with Mr. Bloomfield Douglas, our regret at losing him and our hope for his speedy recovery of full health. 0. I now propose that the report and accounts before you be adopted which proposal I will ask the Hon. Mr. Choo Kia Peng to second, but before putting the same to the meeting I will first answer to the best of ability any questions which shareholders present may care to ask. 0. This was duly seconded by the Mr. Choo Kia Peng and after answering questions put by shareholders the report and accounts as submitted were adopted and passed. The retiring directors Messrs. J. A. Russell and I. H. Armstrong were re elected as were the retiring auditors Messrs. Neill and Bell. With a vote of thanks to the chair the meeting terminated.

The Straits Times, 5 April 1923, Page 11 . KAMASAN RUBBER COMPANY. Payment of a Twelve Per Cent Dividend. The following report is officially communicated: - The general meeting of shareholders of the Kamasan Rubber Company, Ltd., was held at the registered office of the company, 1 Embankment, Kuala Lumpur, on March 27, Mr. E. W. Tyler presiding-. Summary: (The meeting is chaired by Mr. E. W. Tyler, who goes through the accounts.. strong financial position.. profit of $28,318.54…dividend 12 per cent… property in god order due to Mr. C. G. Trotter.. thanks to visiting agent J. Murray… estate in full bearing… no jungle to develop.. considering purchasing another property.. but won’t do it unless directors are assured that it wont diminish dividends. Mr. J. A. Russell re –elected as a director.)

1920

A 1920 advert for J. A. Russell and Co. show them to be Secretaries for the Stapoh Nal Rubber Co. Ltd. and Jerantut Plantations Ltd.