( 3 .) 



RUANAWELLA TEA CO. 



Directors :— Messrs G H Alston, J P Anderson anil A L 

 Hine- Haycock. Estate Inspector :— Mr J P Anderson. Es- 

 tate Superintendent :— Mr D 1 Mackenzie. 



ACREAGE. 



Tea in full bearing .. 374 Acres 



Rubber planted . 31 

 Felled for Rubber (about) 15 



Jungle and Waste land . . 153 ,, 



Total . . 573 Acres 



The Directors submit to the Shareholders the accounts 

 of the Company for the past year. The crop secured 

 amounting to 181,010 lb of tea, showing an increase over 

 1904 of 11,940 lb, but owing to the low price ruling for 

 common teas during the past 11 months, the net average 

 price realised was only 26'37 cents per lb, the cost per 

 lb however was reduced to 22'35 cents per lb which in- 

 included 271 cents per lb expended on cultivation. The net 

 profit for the year amounted to R6,0I8'64 to which falls 

 to be added the balance of R5,781'36 brought forward 

 from the previous year. In view of the extension in 

 Rubber which has been decided upon by the Directors, 

 they now recommend that a sum of 1110,000 be transferred 

 to Extension Fund Account, leaving a balance of R1,S00 to 

 be carried forward to the current season's account. Nego- 

 tiations have been practically completed for purchasing 

 230 acres of land, of which 200 acres will be opened in 

 Rubber during the year. A census of the t rees and plants 

 growing on Ruanwella h is been taken with the follow- 

 ing results : — 



Over 12 feet nigh . . 4,807 trees 



From 6 to 12 feet .. 2.896 ,, 



Under 6 feet . . 4,440 ,, 



Total 



12,'0i trees. 



Planted in ravines, 

 swamps and along 

 roadsides. 



During the past year about 31 acres have been planted 

 with Rubber, and about 15 acres have been felled ready 

 for burning, while the whole of the tea is holed 30 feet by 

 30 feet, and is ready for planting with Rubber in suitable 

 weather. On this work during the past year R3,*81'95 

 was expended. The estimated expenditure on Working 

 Account for 1900 is Rl7,258'56, for a crop of 100,000 lb of 

 tea. — By order of the Directors, Whittall & Co., Agents 

 and Secretaries. Colombo, 1st Feb., 1906. 



Rubber.— In accordance with the circular, notice issued 

 to the Shareholders in October last, the purchase of 

 Happugamana Estate was completed, and the area of this 

 Estate is included in the Acreage Statement shown above. 



An area of 84 acres of the reserve land on Kelani Ustate 

 was also opened and planted during Hie S.W. Monsoon, 

 and a further 16 acres (luring the N.E. Monsoon, making 

 a total of 100 acres of land opened iti Rubber during the 

 year. The following table giving particulars of the Rubber 

 now growing on Kelani and Happugamana Estates will 

 perhaps be of interest to the Shareholders :— 



■si 

 CD 



K © ?' 



S> =3 :-. ^ *" ££— if — 



V = IS So S~ 



clearings. g j .» W to'd ?'5 » 2 

 < £ 5 sqg n -Si 

 Happugamana 53 s.W. 19:13 10 10' 2 ,000 613" 2V 



Do Tea. 21 S.W. 1903 10' „ 10' 7,300 295" 14' 



Kelani 10 S.W. 1904 12' 15' 1,950 3'J5" 14' 



Kelani 84 S.W. 1905 15 .15 16,500 about 



4> ft. Well 



Keland (Rdbber 



in Tea) — — — 100 — — 



Kelani 16 X.E. 1935 15' ; 15 2,900 



Tht Directors recommend that another 40 acres be 

 opened in Rubber during the year 1906 making the total 

 area under this product 203 acres. During the current 

 season the expenditure on the Capital Account is esti- 

 mated to amount to RIS.oOimade up as follows: 



Say R4,500for Upkeep of Rubber clearings (which will be 

 practically covered by the amount which it is proposed 

 should be set aside from last year's profits). 



Say R3.000 approximate cost of opening 40 acre- in Rubber 



Say R6.000 for the purchase and installation of a. 25 

 H.P. Hornsby Akroyd oil engine, the provision of in- 

 creased motive power in the Factory having become neces- 

 sary, owing to the fact that sufficient water is not now 

 available throughout the year to drive the existing turbine 



Finance.— Referring to the amounts show n in the an- 

 nexed balance sheet under heading " Debts due to the 

 Company," it should be explained that tne mortgage over 

 Kelani li itate R25,000, and the overdraft due -he National 

 Bank of India, Limited, R35,045'46 have been liquidated 

 since the accounts were made up, these items being covered 

 by a permanent, loan for three years of ROO.OOO secured by 

 a primary mortgage over the Company's Assets, payment 

 of which was received on the 3rd of Janiary.— Ay order 

 of the Directors.— Caron & Co., Agents and Secretaries 



KELANI TEA GARDEN CO., LTD. 



Tea 

 Rubber 



441 



3 planted S.W. 1903 10' X 10' 



„ .. .. 10 „ „ 19)4 12' ,, 15' 



„ ..■ ..84 „ „ 19 5 15' „ 15' 



16 N.E. 1905 15' ,. 15' 

 Ravines, Grass and Waste 11 

 Reserve . . . . 203 



Total 



821 acres more or less. 



The Directors have pleasure in submitting to the Share 

 holders of the Company the Accounts duly audited for 

 the year ending the 31st December, 1905. The Crop har- 

 vested for the year amounted to 275,620 lb of made tea 

 against an estimate of 200,000 lb, or the equivalent of 

 653 lb per acre, and upon sale in the Colombo market 

 realised a nett average of cents 25 41 per pound. The 

 excess in crop over the estimate was due to favourable 

 flushing weather experienced during the year, the absence 

 of any serious attack of helopeltis, and also to the fact 

 that the Superintendent was able to maintain his labour 

 force on a level sufficient for all the requirements of the 

 Estate. In addition to the Estate tea dealt with in the 

 factory, 30,005 lb, were made for others, making a total 

 of 305,625 lb manufactured in the year. The cost of pro- 

 duction, incluiing cents 2'19 spent on manuring, but ex- 



' clusively of items on Capital Account, was cents 21'12 per 

 pound. The balance at credit of Profit and Loss Account 



rafter providing for depreciation 011 Building and Machinery, 

 Interests, Management, and other charges, and including 

 a balance of R465"75 brought forward from 1904, amounts 

 to R7,083'93. Of this sum the Directors recommend that 

 R7,000 should be placed to credit of Rubber Extensions 

 Account to provide for expenditure on this account, and 

 the balance R8393 carried forward. The estimated crop 

 for the current year is 23 ',000 lb to be produced at a cost 

 of cents 24'90 per pound after providing for manuring 239 

 acres, which will absorb the equivalent of cents 4'05 per 

 pound of made tea. 



GANGAWATTA ESTATES CO. 



Directors :— Messrs. TG Hayes. S H Hayes and T S 

 Grigson. 



ACREAGE. 

 Tea in full bearing 341) acres 



Fuel Trees . . 5 



Grass Land . . "JO ., 



Total .. 355 acres 



The Directors beg to submit their Report with state- 

 ment of accounts for the year ended 31st December, 1905 

 The crop secured during the twelve months, including 

 1041b. brought forward from 1904, amounted to 207 670 lb 

 against an estimate of 180,000 lb. which may be considered 

 satisfactory, being equal to an average yield of 6 01b per 

 acre. Last year's crop was 176,389 lb. only. The Teas 

 have cost less to produce this year, the f.o.b. rate, in- 

 cluding 2-48 cents spent on cultivation w orks, amounting to 

 24 '60 cents as against 27'14 cents per lb. last year, with 3-30 

 cents per lb. for manuring. In the matter of prices results 

 compare unfavourably with last season, the net average 

 being barely 35'60 bents per lb. as against 3S'75 in 1904. 

 The working account, however, shows the year's profit to 

 have been R22,794 14 as against R17,655'70 last year. To 

 this has to be added a sum of R526'45 brought forward 

 from last season, aud after providing for interest on mort- 

 gage, Superintendent's Commission, &c, there remains a, 

 balance of R13,057'22 available for distribution. Out of 

 this sum the Directors recommend tha.t a final dividend of 

 6 per cent be declared, making 9 percent for the year, and 

 that the balance after payment of Directors' fees be 

 carried forward to season 1906. The estimat e for the new 

 season is based on a crop of 180,000 lb. of made tea, and 

 the expenditure, including 3 '34 cents for manuring, works 

 out at 27"20 cents per lb. The property is reported in 

 excellent condition.— By order of the Directors, GEOItfiK 

 Steuart & Co., Agents and Secretaries. Colombo 2nd 

 Feb. 1903. . .' " 



