( 19 ) 



The following results of the last eight years' working 



will be of interest :— 

 Year. 



Cost of Gross 



Yearly 



lb. 

 930,281 



tion. 



Tea. 



per cent. 



cents. 



d. 



28-70 



10-09 



10 



2577 



9-49 



10 



26-97 



8-98 



71* 



26-18 



8-11 



8 



58-21 



9-37 



8 



27-67 



8-73 



8 



27-45 



8-59 



8 



26-09 



8-94 



8 



1899-00 



1900 (9 mont 

 1901 

 1902 

 1903 

 1904 

 1905 



* This was for a period of nine months at the rate of 



10 per cent per annum. 



Mr T C Owen was appointed by the Board as Managing 

 Director and Chairman, and this appointment wilT be 

 submitted for confirmation at the general meeting. T. C. 

 Owen, Chairman and Managing Director. Rowe, White 

 & Co, Secretaries, March 20th, 1906. 



THE CRAIGHEAD TEA CO., LTD. 



The Directors have the pleasure to submit the balance 

 sheet and accounts of the Company for the year ending 

 31st December, 1905, duly audited. The mortgage was 

 reduced to £1,350 by the payment of the seventh instal- 

 ment of £450 on the 31st December last. This sum is 

 debited to profit and loss account, and is an ample 

 charge for depreciation. The total yield, excluding 



11 665 lb. made from purchased leaf, was 362,911 lb. tea, 

 which cost 28-15 cents f. o. b. Colombo, and the gross 

 average price obtained in London was 6'95d per lb. 

 The crop of the previous year was 461,843 lb. 

 tea and the gross average was 6;83d per lb. The 

 shortfall is attributed to the deficient rainfall, and 

 the necessity for pruning a larger acreage in thej second 

 half of the year than was originally intended. 



£ s. d. 



The Net Profit for the year amounted to 1,739 19 9 

 And the balance from the previous 

 year to - - ■ 590 7 9 



2,330 7 6 



The following payments have been made 



for the year :— 

 Interest on the Mortgage - - 90 



The Seventh Instalment of the Mortgage 



(£4,500) - ■ . - 450 



Dividend on the six per cent Preference 



Shares for the year - - 481 16 



An Interim Dividend of 2J per cent on the 



Ordinary Shares, free of Income Tax - 572 15 

 Income Tax to 31st December, 1905 - 114 19 1 

 It is proposed— 

 To pay a final Dividend of U per cent, 



free of Income Tax, on the Ordinary 



Shares, making four per cent for the 



year, which will require - - 343 13 



And to carry forward the Ibalance of - 277 4 5 



2,330 7 6 



The approximate acreage are as followsl as per re- 

 cent survey : — 



Acres. 



TEA. — In bearing - - 893 



„ — Not in bearing - - 3 



Ravines and Waste - - 62 



Timber Clearings - - 53 



Jungle and Patana - - 32 



1,043 



—By order of the Board, Robertson, Bois & Co. Agents, 

 and Secretaries. London, 23rd March, 1906. 



THE CONSOLIDATED ESTATES 

 CO., LTD- 



At a meeting of the General Managers held yesterday, 

 it was relolved that an interim dividend of four par cent, 

 (less income tax) be declared on the preferred shares, pay- 

 able on the llth April next, and cheques will accordingly 

 be posted to shareholders on that date. The Company's 

 optrations for the present season up to date have been 

 favourable, the quantity of tea harvested to the end of 



February being about 200,000 lbs, in excess of that for the 

 corresponding period last year, and the average price 

 realised nearly Jd. per lb. higher. Reports from the Estates 

 continue to be satisfactory, and it is anticipated that with 

 normal weather for the remainder of the season, the esti- 

 mates given in last year's annual report will be more 

 than realised. The produce from the rubber trees, which 

 was estimated at about 2,700 lbs., is likely to exceed 

 5,000 lb., and the annual production will gradually increase 

 as the trees mature. There were 131,000 Para trees planted 

 among the tea, and in separate clearings, at the date of 

 the last report. Since then about 150 acres have been 

 cleared, and mostly planted.— Yours faithfully, J. B. 

 Keith, Secretary. 



THE SOUTH WANARAJAH TEA 

 ESTATES, LTD. 



The Directors beg to submit the Statement of Accounts 

 for the year 1905, which has been duly audited. 



£ s. d. 



The profit for the season, after transferring 



£900 to Reserve and writing off £150 for 



depreciation, is . . 2332 3 10 



Add balance of last account . . 27 19 o 



2360 2 10 



780 

 1580 2 10 



Out of which a dividend at the rate of six 

 per cent on the preference shares has 

 been paid 



Leaving a sum of 

 For this the Directors recommend the pay- 

 ment of a Dividend at the rate of Seven 

 and a half per cent, free of income tax, 

 on £20,000, Ordinary Shares . . 1500 



Leaving a balance to carry forward . . 80 2 10 

 The Tea crop for the season, including 89,549 lb. from 

 bought leaf, amounted to 714,143 lb. and the net average 

 price obtained was 5'27d per lb. The average rate of ex- 

 change was 1/4 5-16 per rupee. Although the price of the 

 Company's Teas is a little less than that for Season 1904, 

 viz, 5 - 27d per lb. against 5-43d per lb. the results this year, 

 owing to economy in cost of production, are more satis- 

 factory, and the Directors, after transferring £900 to 

 Reserve and writing off £150 for Depreciation, are en- 

 abled to recommend a dividend of seven-and-a-half per 

 cent, free of income tax on the Ordinary Shares. Out of 

 the Reserve the Directors have made the usual annual 

 payment of £700 to the Mortgagees of the Poyston Estate, 

 leaving a balance of £4,900 on mortgage of that property, 

 as shown in the Balance Sheet. 

 The acreage of the Company's Estates is as follows : — 



Tea. Rubber. Grass, &c. Total. 

 South Wanarajah . . 230 — 25 255 

 Dartry Group .. 636 17 27 680 

 Poyston ..303 — 19 322 



Totals 1169 17 71 1257 



and the General Manager reports that the properties are 

 all in good order. The capital outlay during the year 

 1905 was chiefly incurred for the extension of the Poys- 

 ton Factory. The amount for Coast Advances is about 

 the same as at the close of the previous year, and is 

 considered by the Manager to be quite safe. Mr Os- 

 wald C Magniac retires from the Board by rotation, 

 and, being eligible, offers himself for re-election. The 

 Auditors Messrs Fuller, Wise and Fisher, also offer 

 themselves for re-election, — Oswald Magniac and Wil- 

 liam Dunn, Directors. P E Hervev, Secretary. 

 London, 24th March, 1906. 



MOUNT VERNON (CEYLON) TEA 

 CO., LTD. 



The Directors have pleasure in submitting to the Share- 

 holders the Report and Accounts of the Company for the 

 year ending 3 st December, 1905, duly certified by the 

 Auditors. The net profit for the year amounts t» £3,906 

 Is. 7d., to which has to be added £198 18s. 8d. brought for- 

 ward from previous year's accounts, giving, a total to be 

 dealt with of £4,105 03. 3d., and this it is proposed to 

 apportion as follows : — 

 To Interim Dividend of 4 per cent, free of 



Income Tax, paid in August, 1906 . . £1,600 

 do Final Dividend of 5 per cent, free of In- 

 come Tax, making 9 per cent for the year 2,000 

 do Reserve Account . . . . 200 



do Factory Extension Account . . , . 200 



do Carry forward to next Accounts . . 105 3 



£4,105 S 



