September i, 1S35.J THE tROPICAL AdRlCUtl-URIsf. 



J 75 



THE CULTIV^ATION IN INDIA: RESULTS: 



THE LAND MORTGAGE BANK OF INDIA 



(CREDIT FONCIER INDIEN), LIUIIEO. 



OapiUl £1,697,320, in 05,624 shares of £17 15s. each. 

 Paid up £262,96(5. Directors : Messrs. J. K. Boyson, chair- 

 man, K. r. Harrison, L. Fitzwygram, W. K. Bingley, and 

 H. G. Bainbridge. 



The directors' report, presented to the twenty-second 

 ordinary general meeting of Shareholders held at the Can- 

 non Street Hotel, on Monday last, contains the following 

 remarks on tea ; — 



AVe subjoin the usual statement showing the results of 

 the working of the several estates during 1884, and with 

 a view to affording you f uU information relative to the tea 

 expenditure we circulate herewith a separate statement 

 marked B showing the details of such expenditure under 

 Bpeci&c heads : (we hope to publish statement li in a sub- 

 sequent issue.) 



l)ai-jeeliit</.—J\ie general result from our estates in this 

 district was fairly satisfactory, and would have been much 

 more so but for the severe drought and unfavourable 

 weather for growth and manufacture which prevailed, more 

 or less, at most of these estates during a considerable por- 

 tion of the season, and the low prices for tea ruling in this 

 market. The estimated crop was 7,40iJ maunds or 5U2,0001b. 

 and the out-turn was 8,3i;2 maunds or H6S,988 lb. The 

 average sale price of the teas from the I'ppor Division wns 

 Is lid. per pound, whilst the teas from the Lower Division 

 realized an average price of Is 413J. per lb. The cost per 

 lb. of the Upper Division's teas laid down in Loudou, 

 (taking Rupee e.tpenditure at Is 8d ), was 10 04d. per lb., 

 and the cost of the Lower Division's teas 9-66d. per lb., 

 the season's profit from the Upper Division being 

 £4,403 18s 5d. and the like profit from the Lower Division 

 £9,47o 8s lid. makin;; an .aggregate of £13,879 7s 4d. 

 The average cost ol production of our Darjeeling teas iu 

 1884 was less by IJd. per lb. than in 1883, the decreased 

 cost in the case of Moondakotee being as much as2id. per lb. 

 and we have fair reason to hope that uuder ordniary cir- 

 cumstanee?, these economies will be maintained, if not im- 

 proved. The first moiety of our produce from this district, 

 owing to the causes before mentioned, and coming as it did 

 to a depressed market, failed to reahze satisfactory prices ; 

 but the latter portion of the crop proved of superior ([uality, 

 and finding a somewhat improved market materially en- 

 hanced the average price of the entire crop ; the latter 

 portion of the jfoondakotee teas realized an average price 

 of Is 7^d. per lb., whilst the earlier consignment realized 

 only an average of Is l|d. The prospects of the present 

 season are undoubtedly encouraging, tlie gardens being in 

 good condition, and promising with a continuance of 

 favourable weather, to give us their full estimated crops 

 and of better quality than those of 1884. 



Asaam. — There was good promise of the estimated 

 crop from our estates iu this district being substanti- 

 ally exceeded, but deficient raiufall at a critical 

 period towards the latter part of the season oper- 

 ated as a check and a small shortfall iu yield was the 

 necessary result. The estimated crop was 5,893 maunds, 

 or 471,4401b. and the out-turn was o,762 maunds or 

 460,0601b. being 131 maunds or 10,4801b, short ot the estim- 

 ated yield. The average sale price of the teas from the 

 Latlakoojan division was Is IJd pur lb. or l-43d per lb. 

 less than in 1883, but the cost of production having been 

 1006d per lb. in 1881, as against ]< IJ 1 in 1>83, showing 

 a reduction of "'■BOd per lb. the resu t has been a piofit 

 frojn the diiision of £4,208 7s 6d or £2.967 5s lid in ex- 

 cess of the profit iu 1883. The average sale price from 

 the Dilflon division was Is njd per lb, or VI l^er lb. less 

 than Iu 1833, but the cost of production having been 

 1137d per lb in 1884, *3 against lo I'o/d in 1883, showing 

 a reductiju of 2-2d per lb. the result from tliis division 

 hw been a profit of CGo ISs 3d in 1884, ag.-inst a loss 

 io 1883. The quility of the produce from tliis district 

 was wdl np to the general average of Assam te.^s, and 

 did not fall much below the average of similar produce 

 in Ks83. The reduced cost in production, ;d led by a con- 

 siderable arei of new tea coming into be;iriug, arc favour- 

 able feat;ire8, and afford good grounds for expecting 

 still more satisfactory results from the further develop' 



taeut of these prvpertiei. 



Cachar. — In spitu of the severe storms from which our 

 estates in this district so materially suffered, and the sub- 

 sequent unfavourable conditions of weather and markets iu 

 1884, the teas realized about the same aggregate average as in 

 season 1883, but the serious shortfall iu the estimated yield 

 necessarily increased the average cost of production, al- 

 though every judiciiius effort was made by the managers 

 to economise expenditiu-e as soon as a shortfall iu the crop 

 was seen to be imminent. Several months elapsed before 

 Jalingah recovered fi-om the effects of the hail storms in 

 April and blight did not leave the gardens until September 

 too late to expect a full or even a fair croji. A'ery credit- 

 able and occasioually high class teas came to us from 

 this district especially from Jalingah, and we see fair 

 reason to hope that the present season will show greatly 

 improved results. The estimated crop was 4,900 maunds 

 or 392,0001b., and the out-turn was 3,667 maunds or 293,360 

 lb., being 1,233 maunds or 98,640lb, short of thi; estimated 

 yield. The average sale price of the teas from tliis district 

 was Is l-78d. per lb. against Is, l-74d. in 18S3, but the 

 cost of production, owing to the short yield, having been 

 Is. l'90d. per lb. entailed a loss on the season's working 

 of £136 18s Id. against a profit iu 1883 of £792 9s 4d. 



Sj/lhet. — The sea.son's results from our estates iu this 

 district have been most unsatisfactory ; tlie plants were 

 much injured by hailstorms, which were followed b severe 

 blight and a long continuance of cold and most un*, avour- 

 able weather, which necessarily affected leaf both '%» quant- 

 ity and quality, whilst the prevalence of ch olera and 

 smallpox iit Shabazpore curtailed and disorganized the 

 labour staff to an extent that was most prejudicial (tor 

 the time being), to the efficient working of the garden. 



On the subject of the weather, the manager wrote: 



" Throughout the season we experienced a succession 

 of the most unfavourable weather I could imagine it 

 possible to have, and the consequence have been dis- 

 astrous." Unfortunate as the results from our estates in this 

 district havi; undoubtedly been, we are unable to attach 

 blame to the management, considering as we do, that the 

 very exceptional circumstances that prevailed sufficiently 

 account for the heavy average cost of production. The estimat- 

 ed crop was 2,575 maunds, or 206,000 lb. and the out-turn was 

 only 1,895 maunds or 151,600 lb. The average sale price ot the 

 teas was Isl'lOd per lb. against Is l-26d per lb. in 1883, show- 

 ing a loss on the season's working of £1,044 7s lid. 



Kolabairee laboured under exceptional drawbacks durinoij 

 season 1884 in consequence of difficulties having arisen in 

 connection with the- labour force at an important period of 

 the season, which very .seriously affected the strength of 

 labour and prejudiced the season's results. Considering that 

 this state ot circumstances was principally due to want of 

 judgment on the part ot the local manager, who had been 

 in the bank's service for upwards of seven years, we deemed 

 it our duty to put an end to his engagement a iid to ap- 

 point another of the bank's employes to this charge. We 

 trust that under the new management the garden will ere 

 long recover from the effects of the disturbances of the 

 past year and show steady progress towards profitable 

 results. The estimated crop was 1,200 maunds or 

 06,000 lb. and the out-turn was only 069 maunds, 

 or 76,720 lb. being 241 maunds or 19,280 lb. less 

 than the estimated yield. The average sale price of the 

 teas was only Is 73d per lb. against Is 2 38d per lb. 

 in 1883, whilst owing to the shortfall in yield, to the 

 garden being a comparatively new one, recjtiiring to 

 be supplied with uiachfuory and builJings, and to the other 

 j exceptional circumstances to which we have referred, the 

 average cost of production was IsO'llSd per lb. showing 

 a loss on the season's working of £1,693. 

 ; Cco/i.— The tot.xl nutturn for 1884 was estimated at 

 21.970 luaunds or 1,707,600 lb, nnd the actual yield fn- 

 ' mai.uliicturHd ten was 20,616 nmiiuds or 1,651,680 lb. shows 

 ing a shortfall (arising from the causes before mentioned) 

 of 1,321 maunds or 105,020 lb. The crop was laid down 

 ! in London Cvith rupee ex])eiiditure taken at Is 8d) at 

 11 OOd being jd per lb less than the cost of our 1883 crop, 

 and realized an average sale price of Is 2d per lb. Wo 

 made no shipments to Australiii or America during last 

 season, either directly or through the (,'alentta Syndicate. 

 The estimated oruli for 1885 is 23,12.5 maunds 1,850.0110 lb. 

 being 2,179 maunds or 108,320 lb. in excees of 1884 crop, 

 and we liejjcve that this estiinat* will be fully realized 



