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CALEDONIAN TEA ESTATES, LTD. 



The working account, after providing for London charges, 

 shows a profit of £2,841 8s yd., and a profit and loss 

 account, including the balance brought forward from the 

 previous year, ami after payment of interest on debentures, 

 &c, loaves a balance of £1,89', lis 7d. The directors, in 

 view of the present position of the company, recommend 

 that this amount should be carried forward. 



The yield of tea from the Company's estates for the past 

 and two previous season was as follows :— Lawrence and 

 Venture, 1901-5, 398,425 lb: 1903-4, 342,901 11); 1902-3, 

 315,401 lb. Selegaina, 19 4-5, 135,854 11) : 1903-4, 60,787 lb; 



1903- 3, 107,870 lb. Wavina, 1901- \ 146,964 lb 1903-4. 152 99311) 

 190 -3, 120,339 lb. 



The gross average prices obtained in London were : — 

 Lawrence, 1904-5, 7'8d ; 1903-4, 7'13d: 1902-3, 7\59d. Ven- 

 ture, 1904-5, 7'02d; 1903-4, 7-40d; 1902-3, 7'tibd. Selegama, 



1904- % 5-70d; 1903-4, 6'40d:i90 '-3, 6-26d. Wavina-, 1904-5. 5'60d; 

 1903-4, t'47d; 1902-3, 6'25d. The crop of cocoa comprised 

 242 cwt from Kahawatte and 33 cwt from Wavina in all 

 275 cwt., and this realised a net average of about 46s. 

 per cwt ; 4,072 seed pods and 2,308 coconuts were also 

 disposed of. The previous year's crop of cocoa was 

 404 cwt. It will be seen from the a bove statement that the 

 total crop of tea from the Company's estat es was larger than 

 that of either of the two previous seasons, but, owing to the 

 very low prices ruling for the commoner t eas from the low- 

 country estates, theresul- of the year's working is again dis- 

 appointing. Considerable progress lias been made in the 

 cultivation of rubber on Kahawatte and Wavina estates, 

 and the board have given instructions foi further planting 

 of this product. The items charged to capital account, 

 amounting to £550 Is. lid., comprise the cost of extension 

 of the factory on Selegama and planting rubber ami other 

 products. 



the profit upon capital being 7'86 per cent.— By order of the 

 Directors, The Eastern Produce tc Estates Co., Ltd.. 

 Agents and Secretaries.— Colombo, 25th January, 1906. 



CASTLEREAGH TEA CO., LTD. 



IMREt TORS :— R. A. Galton, Esq., T. Pi Simpson. Esq.; 

 R. Huyshe Eliot, Esq. -(Managing Director); The Eastern 

 Produce and Estates Co., Ltd., Agents and Secretaries. 

 Superintendent of Estate :— L. P. White. Esq. 



The Directors submit herewith the balance sheet and 

 profit and loss account for the year ending 31st December, 

 1905, duly audited. The balance of profit (including 

 R3.000 90 brought forward) is R2i,470'82; of this sum 

 R7,20O has been absorbed in paying an Interim Dividend 

 at the rate of 3 per cent. The Directors propose after 

 placing R471'59 to Reserve Fund, being 21 per cent on the 

 profits as resolved on in general meeting, to declare a 

 further dividend at the rate of 5 percent, making 8 per 

 cent, for the year absorbing R12.000, and to carry forward 

 to 1900 account R2,799.23. The total tea crop was 204.2591b. 

 against the estimate of 185,000 lb. The cost of the tea 

 delivered to buyers was 24 - 88 cents per lb. or 22'63 cents 

 exclusive of manuring; the crop was sold locally realising 

 35*40 cents per lb. leaving a balance of gain 10'52 cents. 

 Cost in 1904 was 25'96 cents anil value 3.V08 cents. The 

 past year was a favourable one for crop but unfortunately 

 the Superintendent was considerably handicapped in deal- 

 ing with it in the Factory during the alterations to the 

 Turbine and complete renewal of the Turbine piping, the 

 old piping being worn out and unequal to the extra 

 pressure of water sacured by the recent alterations to 

 Turbine and Dam. and for some weeks during these opera- 

 tions it was necessary to semi the leaf to a neighbouring 

 factory to be manufactured. During the season a tea 

 cutter was added to the factory plant which being now 

 adequate for all requirements will admit in future of full 

 justice being done to the crop, estimated a t the moderate 

 figure of 200,000 1b. in 190B. The estate is in good heart 

 and the tea shewing both in appearance and yield the 

 benefit of the steady manuring policy carried out during 

 the past few years. In 1903, 145 acres were treated with 

 manure; in 1904, 100 acres; in 1905, 147 acres, and it is pro- 

 posed to treat 150 acres in 19 6. The Company's property 

 consists of :— 



437 acres Tea under leaf. Yield in 1905. 407 lb. per acre. 

 24 ,, Ravines, scrub, roads, &c, in the 8 ten fields of 



the estate. 

 5S ,, Jungle, jungle belts anil swamp, 



519 acre-. 



The estimated crop for 1906 is 200,000 1b. tea oi 458 lb. 

 per acre. It will be seen that the property representing 

 capital now stands in the balance sheer at approximately 

 R549 per acre cultivated, and that the profit per acre is 

 R45'46as compared With R3P28 in 1004 and R4SH6 ill 1.903, 



UPPER MASK ELI Y A ESTATES CO. 



Directors :— Messrs. R. Webster, W. D. Gibbon and 

 G. H. Alston. Estate Superintendent— Mr. L. A. Wright. 



AOREAtiE : 



Brunswick and 

 Bloomfield. 

 Tea in full bearing .. 446 



Tea in partial bearing . . 10 

 Grass. Timber Trees, &C. . 0< 



Caskieben. Total 



207 JS53.' 

 — 1(1 



518 207 725 



The Directors submit herewith to the Shareholders tile 

 Accounts of the Company for the past year. Crop secured 

 amounted to 357,799 1b of Tea, or an increase over hj)4 

 crop of 41,212 lb which was due to the very favourable 

 Hushing weather experienced during the year. The average 

 net price realised was 37"92 cents. As advised to the 

 Shareholders by circular a contract was entered into for 

 the crop secured on the estate from 8th April, 1905, to 

 31st of March, 1900, to be manufactured into Green Tea 

 at 42 cents per lb delivered in Colombo. The year's 

 working shows a profit of R34,008'96, to which falls to be 

 added the balance from last account of R3,411'59, making 

 R38,020'55 available for distribution. An Interim Dividend 

 of 5 per cent was paid on 29th July last, and the Directors 

 now recommend the payment of a Final Dividend of 5 

 per cent making a total of 10 per cent for the year, and 

 that the balance of R3,020'55 be carried forward to this 

 year's account. The estimate for the present season pro- 

 vides for an expenditure of R99,328'50 on a crop of 

 350,000 lb, which includes a sum of R14,i>20 to be expended 

 in cultivation. The cost of extra drying machinery and 

 Liquid Fuel Installation, necessitated by the growing 

 scarcity of fuel, is estimated at about R7.000. — By order of 

 the Directors, Whittall & Co., Agents and Secretaries. 

 Colombo, 1st February, 1906. 



MAHA UVA ESTATES. 



Directors :— Sir Stanley Bois, W J Smith, Esq.. G H 

 Alston, Esq. ; Estate Inspector : — John Gordon, Esq. : 

 Estate Superintendent:— C W Maclean, Esq. 



ACUEAllE. 



Tea in full bearing 



Cardamoms 



Fuel 



Total Cultivated 

 Building site3 



Jungle and Waste land, Ac. .. 



577 Acres. 

 98 

 17 



: Acres 



14 



251 



Total of Estate . . 957 Acres. 



The Directors have now the pleasure to lay before the 

 Shareholders the accounts for the past year. Owing to a 

 very favourable season the t«a crops secured amounted to 

 283,400 lb., showing ani ncrease over estimate of 20,75 lb. 

 and an increase over 1904 crop of 16,889 lb. The net price 

 realised was also in excess of the previous year, being 

 4C"11 cents per lb. as compared with 37"38 cents. The 

 Cardamom crop amounted to 6,331 lb. which realised for 

 the the quantity sold the net average of 48'67 cents per lb. 

 The profit for the year's working amounted to R36,' 00'05, 

 equal to 12 percent, on the Capital of the Company. In 

 view of the steady decrease in the Cardomom crop during 

 the past three years, the small profit per acre earned by 

 this product, and of the possibility of its being found 

 hereafter advisable to cut out the Cardamoms, the Direc- 

 tors have decided to write off from Capital Account the 

 sum of R\880 or R60 per ar>e on the 98 acres planted in 

 this product. This will leave a sum of R30,126"65, to which 

 has to be added the balance of of R3,761"26 brought for- 

 ward from lastseason, making a total of R33,887 - 91 avail- 

 able for distribution. An Interim Dividend of 4 per cent, 

 was paid on 1st August, 1905, and the Directors now 

 recommend the payment of a Final Dividend of 6 per cent- 

 making a total of 10 per cent, for the year, and that the 

 balance of R3,887 - 91 lie carried forward to the current 

 year's account. During the year a survey was made of 

 the whole of the cultivated a.rea, which has necessitated 

 a slight alteration in the acreage from the figures given in 

 last report. The estimate for the present year provides for 

 the expenditure of R78, 434 '65 on crop of 275,000 lb. of tea and 

 7,000 lb of Cardamoms.— By order of the Directors, Whittall 

 <SCo., AgeWsajadSecretaH.es. Colombo, 1st February, 1900. 



