thE TROPICAL AGRICULTURIST. [October i, 1889. 
for crop 1887 — 88, balance sheet made up to 31st 
May, 1889. 
Crop, 1887-88. 
It was pointed out in last report that the coffee 
orop would fall yery short of the original estimate of 
3,140 cwt. and it will be seen that the total quantity 
sold amounted to 2,468 cwt. 0 qr. 101b. of the value 
Of £10,679 4s 3d. The coffee sold in London yielded 
an average price of 87s Id per cwt. 
The tea crop considerably exceeded the estimate of 
30,800 lb. Spriug Valley producing 38,449 lb which 
sold at an average of Is ljd per lb, and Oolanakande 
5,452 lb which obtained an average of 9£d per lb. The 
total value of tea sold amounted to £2,384 0s Id. 
The weight of Cinchona Bark sold in London was 
13,812 lb., at an average price of 4fd per lb. The 
proceeds from the sale of Cinchona Bark were £269 
15a 9d. The total value of all produce sold, inclu- 
sive of £13 15s 8d balance of Interest Account, was 
£13,346 15s 9d, and the year's expenditure in 
Ceylon and London, after allowing for Profit on 
Exchange, amounted to £11,355 19s 5d, thus show- 
ing a profit on the Season's working of £1,990 16a 
4d ; to this sum has to be added the balance of 
£2,595 9s 4d. brought forward from last year, 
giving a total £4,586 5s 8d, at the credit of Profit 
and Loss. On the 10th January last a Dividend of 
2J per cent was paid on the Capital of the Company 
which absorbed £2,000 of the above amount, and the 
Directors now reoommend the payment of a further 
Dividend of 2£ per cent, making 5 per cent for the 
year, free of Income Tax. For the payment of this 
Dividend £2,000 will be required, leaving a balance of 
£586 5s 8d to be carried forward to next year. 
Crop, 1888-89. 
The Directors have pleasure in referring to the 
prospects for this Season. The Coffee Crop was 
originally estimated at 2,000 cwt., but it is now almost 
certain that it will turn out about 2,600 cwt, thus 
showing a very material increase. This is very satis- 
factory, especially looking to the price now ruling for 
this Btaple. The latest advices from Ceylon report 
that the Coffee is looking well everywhere on Spring 
Valley, and that with a favourable Season, it bids 
fair to give a satisfactory Orop again in the following 
year. In the meantime, there is a comparative free- 
dom from green bug and leaf-disease, but it is im- 
possible to say how long these pests may hold off. 
The area now under Coffee is 970 acres. 
The Tea Crop was estimated at 100,000 lb. on Spring 
Valley, and this total will be very nearly, if not 
quite, reached. Fine Tea being now in demand in 
London, finer plucking than formerly has had to be 
resorted to, and although the quantity of Tea to 
come forward will be thereby decreased, the result 
will be a considerable improvement in price. The 
Tea market has ruled exceptionally low during the 
greater part of the Season, but the tone at the time 
of writing is decidedly firmer, so that the prices to 
be secured for the remainder of the year's Orop should 
show a distinct improvement. The average price for 
the Season will, however, be considerably lower than 
that obtained in 1887-88. 
The Tea area nas been increased by 20 acres during 
ing the past Season, and the acreage now stands as 
follows : — 
Tea. 
Planted Acres 
Nov.-Dec, 1884, on Spring Valley 271, now 4J years old 
May, 1885, on Oolanakande 143, now 4 „ 
Nov.-Dec, 1885, on Spring Valley 230, now3i „ 
May, 1886, on Oolanakande 7, now 3 „ 
Nov.-Dec, 1888, on Spring Valley 20, now 6 months old 
Total area under Tea 671 acres 
All the Tea is growing and yielding leaf well, bu* 
considering the present condition of the Coffee, and 
the high price ruling for that article, the Directors 
have decided not to replace any more Coffee with Tea 
for the present. 
PEOSPECTS OF THE CEYLON TEA 
ENTERPRISE. 
The mail has brought us a very re-assuring letter 
from Mr. Roberts of Messrs. S. Rucker & Co. Our 
correspondent emphasises the position he has always 
taken, that the demand for our teas, their supe- 
rior character being beyond doubt, is likely to 
increase instead of diminishing as the crops in- 
crease, dealers being encouraged to buy largely 
because of the moral certainty that they can con- 
tinue to supply their customers regularly with 
an article of the same quality. The quantities of 
Ceylon tea taken for consumption in seven months 
of this year and especially in July, when the 
deliveries considerably exceeded the imports, are 
adduced in support of the argument, and although 
recent low prices stimulated the demand which 
has led to such results, yet in view of the present 
and especially the prospective results, the low 
prices are regarded as a benefit rather than the 
reverse. This is a proposition which, of course the 
individuals who have specially suffered from low 
prices will find it most difficult to concede. 
Looking at the enterprise as a whole the statis- 
tistical position is certainly eminently favourable. 
The absolute increase in deliveries of Ceylon teas 
in the seven months, is in excess of the figures for 
increase in Indian, while stocks of Ceylon have been 
reduced to about two jmonths' supply, should the 
July rates continue. The figures for the seven 
months are the more satisfactory as showing that 
Indian and Ceylon teas have not merely re- 
placed China kinds, but that there has been a 
considerable increase in total deliveries, not- 
withstanding the fact recognized by Mr. Goschen 
in his budget speech, that one pound of Indian or 
Ceylon tea is equal to nearly two of China. This 
important fact we are apt to lose sight of in 
looking at the bare figures. These for the first 
seven months of this year shewed that, by a process 
which is now steady and continuous, the deliveries 
of China teas, which once had the monopoly of the 
market, shewed a decrease on the corresponding 
period in 1888 of 11,502,000 lb. Indian and Ceylon 
on the contrary showed increases represented thus:— 
Indian .. .. 7,458,000 lb. 
Ceylon .. .. 7,763,000 „ 
Total .. 15,221,000 lb. 
The absolute increase in deliveries, therefore after 
deducting the decrease in China was 3,719,000 lb., 
which, certainly represents 6,000,000 of the China 
standard of quality. If the process goes on at the 
same rate to the end of the year, and after the 
same fashion, we may anticipate an absolute increase 
of deliveries over 1888 of about 7,000,000 lb. which 
being all Indian and Ceylon will be equivalent 
to about 12,000,000 of China quality. 
The excess of increase of deliveries of Ceylon 
teas over Indian shews thus : — 
Increase of Ceylon teas delivered . . 7,763,000 lb. 
Do. Indian .. .. 7,458,000 „ 
Excess in favour of Ceylon . . 305,000 lb. 
The excess is not large in figures, but the case or 
different when we look at percentages : — 
China lost 11,502,000 on 64,352,000 or 17 87 per cent. 
India gained 7,458,000 on 48,751,0 10 orl5 2 J per c ent. 
Ceylon gained 7,763,000 on 9,579,000 or no less than 
8P04 per cent. 
Statistically, therefore, the Ceylon tea enterprise 
occupies a very high position. Let us trust that 
the profits to individual growers of our new staple 
product may be in proportion. 
