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THE TKOPICAL AGRICULTURIST. [Septemser i, 1885. 



it not exceeded. A small consignment of the new seasons 

 teas from Mooudakotee (208 chests) has been sold in this 

 market at an average price of la 3"3d per lb. Up to our 

 latest advices the quantity of tea made was 2,985 mauuds, 

 Bgaiust 2,805 maunds in 1884. The rainfall at the begin- 

 ning of the season was short but recentadvices now point 

 to a fair average season. 



Extensions. — During the past year 491 acres have been 

 added to our planted area. 



General. — Oiving to the contingencies already adverted 

 to, the gross amount of profit from the season's working 

 was considerably less than we anticipated, attributable 

 mainly to shortfall in crop at some of our gardens and 

 the low prices for tea which ruled in this market through- 

 out the season. But for these drawbacks, which were ob- 

 viously beyond our control, the aggregate of tea profit 

 at credit of the profit and loss account, would not only 

 have covered the current year's expenditure on the bank's 

 general account, but would have reduced to some extent the 

 debit balance brought forward from 1883. 



11. — Our expenditure on all accounts (other than tea) dur- 

 ing the current year may be estimated at £21,700, whilst 

 our receipts from all sources (other than tea), will not prob- 

 ably exceed £5,000. The e.stimated cost of our 1885 tea 

 ci'op is below lid per lb laid down in London, but taking 

 it at lid per lb and estimating the average price at last 

 season's low average of is 2d per lb, the resulting surplus 

 would be sufficient not only to cover the current year's ex- 

 penditure debited to profit and loss, but would leave a 

 margin of several thousand pounds to reduce the debit balance 

 from 18S4, In moving the adoption of the report, the 

 Chairman said that the loan business of the bank had 

 almost ceased to exist, the amount of the current loans 

 having been brought down to about £35,000. The only un- 

 satisfactory feature was the fact that they had not sold 

 more of their properties in India. That, however, he 

 thought was accounted for by the condition of the money 

 market, and a feeling that the property belonging to the 

 bank, and being locked up, was likely eventually to go for 

 nothing if would-be investors would hold out long 

 enough. On Saturday they had received a telegram from 

 Calcutta stating that a small property had been sold for 

 20,800 rupees, and the last letters from Calcutta had given 

 them details of various negociations which, if carried through 

 would eventuate in the sale of a very substantial amount 

 of property — several lakhs of rupees. Their debenture 

 liability had been very materially decreased since December, 

 1883, and looking at the present amount and the original 

 figures, he could not but consider that the progress made 

 in this direction had been very satisfactory. Since the bank 

 had been in existence they had paid off debentures amount- 

 ing to £580,920, and this liability had been reduced from 

 close upon £1,000,000 to £320,800. During the same period 

 they had had to meet debenture interest to the amount of 

 £525,000, the two sums aggregating substantially over 

 £1,000,000. He reganled this fact as very sati.sfactory, 

 when they remembered the state of things which existed 

 on the present board taking office, when the shareholders, 

 thought that a call was not merely probable, but that it 

 would impossible for the bank to carry on its operations 

 and meet its liabilities, which at that time amounted to 

 £50,000 a year for drawn bonds and debenture interests 

 without making a call. They had not, however, made any 

 call on the shareholders. Ua concluded by referring to 

 the growth of their tea estates. The motion was seconded, 

 after which Mr. Bninbridge stated that if the present pro- 

 spects of the working ot the tea estates continued for the 

 rest of the year they would be able to present a better 

 profit and loss account next time than they had done for 

 some two or tliree years. The report was adopted after con- 

 Bideralile discussion. Jlr. Buchanan afterwards proposed 

 the following resolution : — " That, iu view of the continued 

 unsatisfactorv nature of tlie accounts, the steady fall in 

 the average prices of tea, and the probablity of a still 

 further reduction in value, a committee of shareholders, 

 to be nominated by the meeting, be appointed to enquire 

 into the present position and future prospects of the bank, 

 and submit a report thereon.'" The resolution was .seconded, 

 but, after a full reply from the chairman, only five hands 

 were held up iu its favour, and the meetinfj; closed with 

 the usual vote of thanks to the ohairmau aiid directors.'— 

 Some cmd Colonial Mail, 



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DEpr,Eri.\TioN IN THE Value of L.ixii IN Eng- 

 land. — The value of land in England still continues 

 to fall. "A few days ago." says the Land Ayenls' 

 Kecord, "an estate of some 500 acres in Cambridgeshire 

 was exposed for sale, but only £22,500 -was oli'.red. A 

 few years ago the same jiroperty changed hands for 

 £70,000. Much of the land on another Cambridgeshire 

 estate is said to be let at 33 an acre to prevent it from 

 going out oi ouUivatioo, "Sugarcane, 



