( 



the growth of which continues to make extremely good 

 progress. In addition to the above, there are 40,000 trees 

 planted in ravines, along roads, and amongst the tea, 

 their ages being as follows : — 



7 years and over 



do 



s do 



it do 



2,290 

 1,008 

 1,624 

 2,240 



4 years and over 6,281 

 between 2 and 4 years old 8,7u0 

 under 2 years 17,854 



( Vogan & Iddagodde 

 3*s>8- Bought leaf 



l_ Stamford Hilla Barkindale 

 ('Vogan & Iddagodde 



40,000 



or taking :00 trees to the acre, the equivalentof r 00 acres, 

 making a grand total of 503: 1: 8: in Rubber. During 

 the current year it is proposed to open a further 30U 

 acres : same is now being felled, and will be plan- 

 ted up in the ensuing S-W Monsoon, thereby bringing 

 the total acreage in this product to 803 : 1 : 8. 

 The following table, showing the crop cost an aver- 

 age price realised for the tea for the past eight years, is 

 appended for the information of Shareholders : — 



Price 

 Crop. Cost. re- 

 alised. 



. 100,712 25-58 43-90 

 . 386,009) 



1809 Bought leaf .. 2,528/^ 10 *• 81 



\ Stamford Hiil & Barkindale .. 95,286 ;2'17 45'3o 

 ("Vogan & Iddagodde .. 462,399) 91 .,„ 



190W Bought leaf .. 20,268/ - 1 w 30 34 



(.Stamford Hill lV Barkindale . . 107,474 23'42 39'94 

 ("Vogan & Iddagodde .. 334,4481 na.an 



l: 01 - Bought leaf .. 15,383/ OJ iz is 



, I. Stamford Hill <v Barkindale .. 82,640 291)0 42-20 

 f Vogan & Iddagodde .. 362,353) .,„.,„ ..„,,, 



1902-.' Bought leaf .. 15,23l/ ^ 4S S£m 



(Stamford Hill & Barkindale 100,752 22'88 38T3 

 ( Vogan & Iddagodde .. 407,124) „-..,„ „ ' 



1903 - Bought leaf . . 8,939 / -° 36 05 

 t Stamford Hill & Barkindale 100,834 24'56 43'96 

 ( Vogan & Iddagodde .. 416,965) „.,.„,. „„... 



1904 ' Bought leaf . . 7,688 / id bl 32 90 

 I Stamford Hill & Barkindale 101,235 23-41 39-22 

 f'Vogan & Iddagodde . . 441,621) „„.„.. ., ..,„ 



1905- Bought leaf .. 10,110 / 22 60 30 26 



(.Stamford Hill lV Barkindale 118,218 22-24 37'69 

 After payment of interest on mortgage and all other 

 charge's, the amount of profit earned is R57,563 - 19 or 8 per 

 cent, on the Capital of the Company. To this has to be 

 added the balance brought forward from previous year, viz., 

 R2,184'79 making a total of R59,74?-98 available for distri- 

 bution. This, t&e Directors recommended, be apportioned 

 as follows: — By payment of a Dividend of 6 % absorbing 

 1143,200, by payment of a Bonus to the Vogan Supeiintendent 

 of R1,000, by payment of a Bonus to the Stamford Hill do. 

 R250, bv placing to Extension account R12.500, bv carrying 

 forward to next account R2,797 - 98— R59,747-98.— By Order 

 of the Directors, Lee Hedges & Co., — Agents and Secre- 

 taries. Colombo, 14th February, 1900. 



THE PALMERSTON TEA CO. OF 

 CEYLON, LTD. 



Directors. — G C Alston, Esq., L Cross Buchanan, Esq., 



SIK STANLEY BOIS. 



ACREAGE OF THE ESTATES. 



Queensland. Palmerston. Total. 

 Acres. Acres. Acres. 



Tea in bearing 254 205 459 



Young Tea 4 4 



Total Tea 

 .1 ungle 

 limber 



Grass, &c. 



236 

 19 

 

 4 



Total Acreage 281 



205 

 



212 



19 



The Directors have pleasure in presenting to the Share- 

 holders the accoounts of the Company for the past year. 

 The yield of tea for the period has been 248,655 lb. costing 

 25-50 cents as against 239/0 1 lb costing 26 cents last year 

 the average net prices realised being 41'84 cents as against 

 40-98 cents for the like period. The net profit for the 

 year inclusive of the sum of R871-84 brought forward 

 i'rom last account amounts to H33,098'40. It will be noticed 

 that nothing Jias been written off for depreciation of 

 buildings and machinery the Directors being of opinion 

 that sufficient provision has been made in respect of these 

 items. An interim Dividend of 3 per cent was paid on 

 t lie 8th August last absorbing R10.300. The Directors 

 recommend that a further R7.500 be set aside for the 

 purpose of liquidating the mortgages over the properties. 



and that a Final Dividend of 3 per cent making 6 per 

 cent for the year be paid leaving a sum of R938 - 40 to 

 be carried forward to current season's account. The crop 

 for 1906 is estimated at 24 ',000 lb on an expenditure of 

 R63,753'50 which includes a sum of R5, 1 70 to be expended 

 on manuring. — By order of the I irectors, Bois BROTHERS 

 <fc Co., Agent and Secretaries Colombo 15th Feb. 1906. 



THE CEYLON RUBBER CO., LTD, 



Directors.— F. L. Clements, Esq., Keith Rollo, Esq., 

 John Paterson, Esq., and T. S. Grigson, Esq. 



The Directors beg to present their Report for the year 

 ended 31st December, 1905, together with a Statement of 

 Accounts dujy audited. The property as will be seen from 

 the statement below now consists of 547 acres, of which 

 425 acres are under cultivation. The sum of R1.240 ap- 

 pearing in the accounts as survey fees has been deposited 

 with Government in order to expedite the survey of lands 

 which have beeen applied for on behalf of the Company. 

 The growth of the rubber in the olderclearings continues 

 satisfactory, and the young clearings are also reported to 

 be doing well. In December last the Shareholders were 

 circularized with regard to an issue of new shares in 

 view of further land purchases which the Directors con- 

 template making. The replies received to the circular 

 letter shew that the Shareholders are prepared to take 

 up as many new shares as are likely to be offered, and 

 it is hoped that by the date fixed for the meeting it will 

 be possible to say how much additional capital will be 

 required. Meantime, the Board has decided to call up 

 the K25 still payable in respect of the original share issue, 

 and notice to that effect lias been given. The following 

 is a definition of the property as at 1st January, 1906 :— 



Rubber planted in 1904 . . 150 acres, 

 do do in 1905 . . 275 „ 



Forest, &c. (to be opened in 1906) 122 „ 



Total . . 547 acres. 

 —By order of the Directors. — GEORGE Steuart & Co., 

 Agents and Secretaries. Colombo, Feb. 16th, 1906. 



THE GLENANORE TEA CO., LTD. 



Directors. — Messrs. R. P. Hudson, Thos. Hudson and 

 John Paterson ; Agents and Secretaries : — Messrs. George 

 Steuart & Co. 



The Directors beg to present their report with state- 

 ment of accounts, duly audited, for the year ended 31st 

 December, 1905. The revenue and expenditure account 

 shows the gross earnings to have been Rl6.315 - 67 as 

 against R12,599-71 in 1904, the better results this past 

 year being dut to an appreciably larger output, 145,003 lb 

 of Made Tea having been secured as compared with 

 119,554 lb. only last season. The cost of production, in- 

 cluding 2'59 cents per lb. spent on manuring, works out 

 at 30-89 cents per lb. of Made Tea, which • is exactly 2 

 cents per lb. less than the teas cost to produce last year. 

 The average selling price of the 1905 teas shews some 

 falling off as compared with 1904, but that is more than 

 counterbalanced by the lower cost of production above 

 referred to. The profit and loss account, after pro- 

 viding for depreciation, interest on mortgage, etc., 

 shows a credit balance of R5,678TS Out of this sum the 

 Directors propose that a dividend of 5 per cent should 

 be paid, and that the balance be cairied forward to 

 1906. The item of R10,956 - 18 shown as an asset in the 

 balance sheet under the heading of " Live Stock Account- 

 represents money spent in connection with the Dairy 

 Establishment. Hitherto this item has been outstand- 

 ing in the Superintendent's accounts, but it has been 

 decided to let it appear in the Company's balance sheet 

 in future, and from time to time to set aside for its 

 reduction a portion of the profits of the estate. This 

 past year a sum of Rl,500 has been reserved for the 

 above" purposes. The current season's estimate points 

 to a crop of 150,000 lb. of tea to, cost 3076 cents per lb. 

 with an allowance of 4£- cents for cultivation work. 

 The following is n definition of the property as at 

 1st January, 1906 :— 



Tea in bearing 

 Tea planted 1905 

 Resting 



Timber Trees 



Grass 



Patna 



Total in tea 



Total 



382 acres. 

 i do 

 8 do 



392 acres. 

 51 do 

 12 do . 

 77 do 



532 acres. 



—By order of theiDirectors, GEORGE Sl'EUART dt Co., Agents 

 and Secretaries, Colombo, 16th February, 19(6. 



