December r, 1884.] THE TROPICAL AGRICULTURIST. 



443 



the belief that it is Letter than the knife. He wag 

 planting up one of his old fields with tea, and de- 

 sirous uf giving every chance to the new plant, sent 

 iu his coolies to smash down the branches of the coffee 

 with the rough and ready alavanga. The work was 

 done effectively, and now the maimed tree, which 

 for some seasons back have refused to do ought else 

 than hold their own, hide-bound and barren, are 

 full of life, throwing out new wood iu an amazing 

 way and leading up to the conviction tin' for 

 pruning old c dice the alavanga is likely to be the 

 tool of the future. 



Many of our old colonists who left us during the 

 darkest days of our depression are returning again to 

 Ceylon. They drop iu one by one, and all have the 

 same tale to tell, that of a hard struggle, in ungenial 

 surroundings. What our old men have not turned 

 their hands to, would be more difficult to siy than 

 to recount their trades. They have gone to evi ry 

 point of the comprss, tested every new country from 

 Manitoba to New Zealand, and it says much for 

 this beautiful island, and the pleasant life the 

 planter lias now, that those who can return do so, 

 and those who can't wish they could. As an ex- 

 ample of the willingness aud grit of our men, I may 

 say, that, about eighteen months ago, I met, in one of 

 the small towns of Southern Calitornia, one who in 

 former days had here cultivated coffee. The bad times 

 had driven him out, and when I saw him he was there 

 employed to use his own expression " bossing an eating- 

 house." So. lie remarks which passed between my com- 

 panion and myself, and which he overhea-d, drew him to 

 us, and during our short stay in the place, about 

 halfau-bour or so, we had his company. The old 

 guild feeling of the planter, added to the "hail fellow" 

 sentiment of the great republic, made him quite at 

 ho lie, and after many enquiries he saw us on board our 

 train, and bade us an affectionate adieu. It was a 

 queer life he was leading, its most prominent ad- 

 vantages being that he had " the run of his teeth" 

 sure, and the honour of being addressed as "jidge." 



Peppercorn. 



QUININE: FABBRICA LOMBARDA DI PRODOTTT 

 CHIMICI :— MEETING OF CREDITORS. 



(SPECIALLY REPORTED FOR " THE CIIEMLST AND 

 DRUGGIST.") 



The meeting of the creditors iu the bankruptcy of the 

 Fabbrica Lombarda di Prodotti Chimici took place in 

 Milan, on September 5th, at 12-5, iu the Hall of the Trib- 

 unal of Commerce, in Via Olerici. 



The meeting was presided over by Judge Biraghi, who 

 opened the proceedings by invitiug those present to inscribe 

 themselves in the list of creditors. The creditors present 

 or represented were fifty-four ; most of them were re- 

 presented by well-known Milanese barristers. 



Professor Maglione, temporary curator (appointed by 

 the tribunal of commerce to represent the creditors dur- 

 ing the bankruptcy proceedings,), then read a detailed 

 report. Before summarizing it, it will be convenient to 

 mention a report which was also presented by the Board 

 of Directors of the manufactory. 



The Board of Directors in their report state that, 

 besides the duty of supplying to the creditors _ all avail- 

 able information, they intend to put forward their legitim- 

 ate defences against all those who, both now and before, 

 tried with violent language to burden the Board of Di- 

 rectors with a moral responsibility that none of them 

 ever accepted or intended to accept. As to the legal 

 responsibility — they leave it to be settled by those who are 

 competent to do it. 



They state that the rules of the Society have never been 

 violated. According to rule 15 the Board of Directors 

 must have an ordinary meeting ouce a mouth. It has 

 plwajs been held, besides several extraordinary meetings. 



According to Rule 20 the two managers have very large 

 powers entrusted to them, with full authority to do and 

 undo at their pleasure. In the extraordinary meeting 

 held on May 15th, 1882, the Board of Directors rescinded 

 the engagement with the manager, Alessandro Bohringer. 

 This was to have effect on July 1st, 1S81. 



The first cause of the bankruptcy dates as far back as 

 the year 1880. According to the advice of the manager, 

 A. Bohringer, the capital was then increased, and the 

 production of sulphate of quinine was brought up to 200 

 kilogrammes daily. It was aimed at dominating the markets 

 of the world, aud at cheeking the wild speculation which 

 had seized and monopolized the trade in the raw material. 

 In order to produce bark, the Society bought some lands 

 in Columbia. 



It was soon seen that the forces of the Society were unequal 

 to the task, and it was resolved to limit the production. 

 This happened in the measure of about one-third in the 

 year 1882-83, though Siguor A. Bohringer and the manag- 

 ers made very onerous contracts without the knowledge 

 of the Board of Directors. It has also appeared that 

 frauds have been committed. In the balance-sheet cf June 

 30th, 1883, were entered 9G0 bales of quinine, ("bark." — Ed. 

 O. O.) which only arrived in the store during July: the average 

 chemical analysis was elevated to 2-02 which figure was false 

 by 35 per cent, the real average being only 1-28. As these 

 figures were within normal limits it was impossible for 

 the Board of Directors to perceive the alterations, which 

 had been perpetrated by Signor A. Bohringer, with the 

 silent concurrence of the administrative manager and one 

 of the directors. 



The report then explains at some length the reasons 

 of the difference between the balance-sheet presented by 

 the directors on June 30th 1881, and that compiled by 

 Professor Maglione on August 14th. 



It ends by recording the opinion of the directors that 

 the manager Alessandro Bohringer, was useful to the 

 manufacture as loug as he kept his energy within proper 

 limits ; but, inebriated by the first successes, led more by 

 ambition than by gain, he plunged into speculations, gambl- 

 ing, and frauds. The administrative manager, Pestalozza 

 (who put and end to his life by poison), acquiesced, ow- 

 ing to his weak character, without personal profit. The 

 directors in vain tried several times to call them more 

 stringently to duty; but no one could for a moment have 

 a doubt of their honesty and zeal, and no one outside 

 of the Board ever had a doubt of it. 



The report read by Professor Maglione, as curator of 

 the creditors, regards the several periods of the Society 

 from August 1884 to the present time. We will sum 

 up the priucipal points. 



On August 5th, 1884, the board of directors of the 

 Fabbrica Lombarda di Prodotti Chimici asked the Tribuual 

 of Commerce for a moratorium (delay to meet the en- 

 gagements), which was grauted. 



The balance-sheet of June 30th, 1SS4, presented a deficit 

 of 1,866,283 f. 29 c. which had to be deducted from the 

 capital ; but that balance-sheet was only numerical. On 

 asking for the moratorium the Board presented a state- 

 ment of what it cousidered the real situation, which, 

 after the loss of the whole capital of 6,000,000 f. presentd 

 the following results: — 



Fr. O. 

 Assets... ... ... 11,872,576 85 



Liabilities ... ... 10,910,735 76 



Surplus... .. 952,841 



The details of this situation are as follows : — 

 Assets. 



Value of the manufacture 



Debtors... 



Cash 



Land iu Columbia 



Stocks and shares 



Bills... 



Due from shareholders 



Merchandize 



09 



Total, 



11,872,576 85 



