( 15 ) 



up the 257. acres already felled and for a further 800 acres. 

 In the event of the Directors being authorised to borrow 

 sufficient money to cover the capital expenditure already 

 incurred, and for further planting 30<l acres iu rubber, the 

 R10,461'08 attbu credit of profit and loss account will be 

 available for dividend. Subject to the loan asked for being 

 authorised, the Directors recommend the payment of a 

 dividend of four per cent amounting to R8,0 0, and carry- 

 ing forward the balance R2,4U1'08. Mr Hector VanCuyleu- 

 berg retires from the Board by rotation, and, being eligible, 

 otters himself for re-election. The appointment of an 

 auditor rests with the meeting. 



Acreage. — Tea ill full bearing Acres 395 ; Tea new 

 clearing 1903, 14; Tea new clearing 1904. 14; Tea now 

 clearing 1905 andlRubber planted in between, 32; Tea aban- 

 doned 195; 'lea and Cinnamon abandoned 43; Forest 

 boundary belts 53 ; Ravines 10 ; Forest 809. Total— 1, SUB. 



RUBBER.— Planted amongst tea 1903, Acres 9 ; Ravines, 

 planted with rubber 1904, 34; Ravines, planted with 

 rubber 1905, 69 ; New clearing planted 19(15, 103 ; Planted 

 amongst tea in 32 acres new clearing ; Felled and ready 

 for planting 157; Felled and burnt (and will be ready 

 for May and June) planting 10U. Total— Acres 478. 



THE CEYLON PLANTERS' RUBBER 

 SYNDICATE, LTD. 



1)1 hectors.— Mr. K Hamilton, Mr. AH Dunsmure, the 

 Hon. Mr. J N Campbell, Mr. W P Halliley, Mr. F L 

 Clements. Secretaries. — Messrs. Cumberbatch it Co. 

 ACREAGE. 



The acreage of the Syndicate's property is as follows :— 

 Rubber under 5 years 325 acres. 



4 ,, 77 ,, 



3 



143 

 10 



29i 



Felled and cleared for rubber 



Coconuts 



Reserve 



Total 



5S4m acres. 

 36 

 34 



229.} „ 

 884 acres 



Mr. W H Trotter made a survey of the estate during the 

 year with the above result. Part of the acreage given 

 above as under rubber has coffee growing in it, and 25 

 acres have been taken out of the rubber area and are now 

 entered as coconuts. The expenditure for the year was 

 R39,0i5 - 5tS. The Directors thought it advisable to spend this 

 rather large sum on putting the place in thorough good 

 order, and they are glad to be able to state that Mr. W 

 W Bailey (who was appointed Visiting Agent during the 

 year) reports that everything is going on well, and that 

 in the future weeding (which in the past has been respon- 

 sible for such a large expenditure) will cost less. 

 During the year a system of bunds and floodgates was 

 completed to keep back the tides. These, though the work 

 has been costly, have been quite successful, and Mr. 

 Bailey reports that no trees have been damaged by salt 

 water this year. A census of trees is now being taken. 

 Oh Mr. W W Bailey's departure from the Federated Malay 

 States, Mr. R VV Harrison was appointed Visiting Agent 

 to the Company. The estimate of expenditure for the 

 current year is dols. 21, 681 '00, »r with exchange at R177 

 per dol=R38,198 - 37, which includes the cost of a small 

 curing house to be erected at once. Tapping operations 

 on a small scale will be commenced during 1906. The 

 Directors were approached with a view to an amalga- 

 mation with the proposed Lowlands Company, and an 

 extraordinary general meeting was called to consider the 

 matter. Since then Mr. W W Bailey has passed through 

 Colombo on his way home, and at an interview with one 

 of the Directors he stated that the Lowlands Company 

 papers had been completed and could not be altered, and 

 that it was, therefore, too late to include Wendamarara. 



THE RANI RUBBER CO., LTD. 



Directors :— Mr G X Thomson (Managing Director), 

 Mr John G Wardrop, Hon. Mr .1 N Campbel, Mr C E 

 Stevenson. 



ACREAGE. 



Sittar. Mundakayam. Total. 

 Para Rubber planted in 1904. . 151 60 " 211 



Do do 1905.. 569 120 689 



Felled, to be planted in 1906.. — 317 317 



Acres .. 720 497 1.217 



The Directors beg to submit to the Shareholders the 

 accounts of the Company for the past year. Mr G N 

 Thomson, Managing Director, visited the Company's pro- 



perties in .January of this year, and reports the growth 

 of the Rubber on the older clearings on both Sittar and 

 Mundakayam Estates as highly satisfactory, especially 

 so atSittar. The 1905 clearing are coining on well, and 

 there are practically no vacancies. The whole of Sittar 

 Estate has been carefully fenced. The estimated ex- 

 penditure on Sittar for the current year is R25, 610 which 

 provides for the upkeep of 720 acres. The estimated 

 expenditure on Mundakayam amounts to R31.838 provid- 

 ing lor the upkeep of existing clearings and the felling 

 and planting of the 317 acres above referred to. In 

 accordance with the Directors' circular of the 7th Aug. 

 last, 1,000 new shares were issued to existing Share- 

 holders on which R60 has been called up, bringing them 

 into line with the previous issue of shares. The outlay 

 on the Company's properties lias been heavier than was 

 at first anticipated, and in connection with the Sittar 

 block a payment has had to be made to the Travancore 

 Government of R6.920 in connection with the new title 

 after-mentioned which has been granted to the Company. 

 In order to provide for this increased outlay, the 

 Directors have decided to issue the balance of 500 

 shares remaining of the authorised capital (R300,000) and 

 which shares are now ottered at par to existing Share- 

 holders in the proportion of one new shares to every five 

 shares hold by them, and in respect of which R00 per share 

 is payable on application. The Directors are pleased to 

 be able to report that Mr Thomson has negotiated anew 

 title on behalf of the Company with the Travancore 

 Government for the Sittar back." This was originally held 

 on 25 years' grant and contained a stipulation that not 

 less than 30 trees per acre of different species should 

 be planted for Government simultaneously with the plan- 

 ting of Rubber, but Government, in consideration of 

 the payment of Rio per acre, agreed to grant the Com- 

 pany and absolute freehold t itle transferable at will and 

 withdrew the stipulation as to the planting of Government 

 trees. The land is to bear an annual tax of 6 annas per 

 acre for the first five years dating from the 16th August, 1905, 

 and thereafter the tax is to be R2 per acre which will not 

 be increased except in accordance with a general revision 

 of the assessment of the lands of the Travancore State. 

 The Government have further agreed that, subject to the 

 consent of the Conservator of F'orests, the Company may 

 have an additional 300 acres at Sittar adjoining their pre- 

 sent block on the same terms, and this area the Directors 

 have applied for. At Mundakayam the Government are 

 now demarcating the boundaries ot the Company's pro- 

 perty so as to adjust these in accordance with the opened 

 areas. In the event of theSUO acres additional land being 

 secured at Sittar, it will be necessary to issue additional 

 capital for opening and bringing the acreage into bearing, 

 and in view of this a special meeting has been called 

 for the same date as the annual meeting to pass the ne- 

 cessary resolution for the increase of capital. For con- 

 venience, the Directors propose that the authorised capi- 

 tal be raised from RiSOO.OOO to R500.000. The new shares 

 will be issued and offered to existing Shareholders as soon 

 as the grant of the additional land has obtained. — By 

 order of [the iDirectors, Colombo CommercialCo., Ltd.. 

 (Joii.n G. Wardrop,— Manager), Agents and Secretaries 

 Colombo, 14th March, 1906. 



SHALIACARY RUBBER CO., LTD. 



Directors.— Messrs. G N Thomson (Managing Direc- 

 tor), W Shakespeare. C E Stevenson and John G Wardrop. 

 ACREAGE. 



Rubber planted in 1905 . . 200 acres 



Felled, to be planted with Rubber in 1906. . 473 „ 



Area of Estate . . 673 acres 

 The Directors beg to submit to the Shareholders the 

 Accounts of the Company to 31st December, 1905. There 

 was planted to that date 200 acres of Rubber, and the 

 remaining acreage (473 acres) has now all been felled 

 and will be planted during the current year. The esti- 

 mated expenditure this year is R (8,493 and provides for 

 the upkeep of the existing planted area and the open- 

 ing of the remaining 473 acres. There is a fine nurseryiof 

 90,000 plants at the estate available for this year's planting. 

 No damage has been done by wild animals, and a good 

 labour force has been established. The older rubber 

 trees were tapped and half-a-pound of dry rubber 

 obtained from each. The samples were submitted to 

 Messrs. Figgis and Co., of London, who reported to them 

 as follows :— " We have carefully examined these 6 

 biscuits and find them well prepared and of nice colour. 

 This rubber would sell very readily at about 6s. to 6s Id 

 per lb " These eight old trees are now being reserved 

 for seed. The Directors have departed from the inten- 

 tion of planting part of the area with tea, and have 

 decided that the whole estate should be planted with 

 rubber, for which the soil is specially suited. The 

 Directors appointed Mr C Uenly, of Kalutara, to visit 

 and report on the Company's property, and this he did 



