MARCH i, 1890.] THE TROPICAL AGRICULTURIST. 
595 
the greater part of the looms have been ereoted, the 
Weaving department will be brought into operation 
very soon after that of the Spinning. A number of 
skilled hands have been procured from India, who 
will be able to train the local labour, of which there 
is every prospect of an unlimited supply. Arrange- 
ments have been made for supplies uf Cotton from 
India to the extent that may be required to supple- 
ment thoae obtained in the Island, which it is hoped 
will uow gradually increase. The Directors regard 
the prospects of the Company as very promising, and 
with good and careful management, the results ought 
to be as successful financially, as they have been in 
Other respects. The retiring Directois are Messrs. 
B. L. M. Brown and W. Anderson, and they are 
eligible for re-election. 
Balance Sheet of the Ceylon Spinning and 
Weaving Company, Limited. 
Made up to 8ht December 1889. 
Dr. Capital and Liabilities. 
1 To Capital:— 
Total amounts received as under : — B o 
Prom 1 person holdiDg 35 shares paid R100 per share 3,500 00 
Do 4 do 81 do 60 do 6,480 00 
Do 170 do 2970 do 60 do 178,200 00 
Do 13 do 216 do 40 do 8,640 00 
Do 1 do 25 do 30 do 760 00 
Do 10 do 151 do 20 do 3.020 00 
Do 8 do 58 do 10 do 580 00 
464 shares guaranteed but 
calls deferred. 
K201.170 00 
207 4,000 
Particulars of arrears will be found noted below. 
II. To Debts and Liabilities:— E c. R c . 
Amount of Loans... ... 200,000 00 
Debts for which acceptances 
have been given for Ma- 
chinery ... .„ 82,671 08 
Debts for Machinery not 
yet drawn against* ... 31,933 25 
Amount deposited by Share- 
holders in anticipation of 
Calls... ... ... 3,480 00 
Amount of interest due ou 
Loans ... ... 2,259 51 
Balance of Wages due ... 826 05 
Due for Cotton Seed ... 17 62 
321,189 51 
VI. To Marine Insurance Fund 
Account ... ... 175 00 
VII. To Suspense Account : — 
Cotton Seed sold ... 1,672 15 
Interest ... ... 586 28 
2,258 43 
Or. 
111. 
Property and Assets. B 
By Property held by the Company :— 
Immovable Property : 
Freehold Land at "Wellawatta 14,489 
Buildings ... ... 109,708 
Movable Property : — 
Machinery and Tools 
Furniture 
Stock-in-Trade :— 
Stores in hand 
Cotton ,, 
Firewood „ 
B524.792 91 
E c. 
60 
V. 
Debts for which the Company 
hold security ... 
Debts considered good for 
which the Company hold 
no security 
By Cash and Bank Balances:- 
Cash in the Bank of Madras 
Cash in hand ... 
284,500 
(56 
362 
12 
62,183 
99 
47,290 
98 
198 
72 
r- — 
2,112 
67 
2,120 
48 
1,820 
27 
4 
65 
124,198 50 
284,862 78 
109,673 69 
4,233 05 
1,824 92 
R524.792 94 
E. & O. E. (Signed; K. L. M. Brown, Chairman. 
J. J. GlMNLINTON, 
E. Walker, 
C. Kamalinuam, ■ D '"otore. 
W. W. MituhkllJ 
Oolo.no j , :U at January 1,490. 
THE VARYING STATE OF THE MAEKET FOR 
OEYLON TEAS IN 1889 
is thus shown in Messrs. H. A. Hertz & Co.'s 
Review of the Tea Market for 1889 :— 
January : — After opening slightly firmer than at the 
close of the year, have evinced a continually drooping 
tendency, most marked for Leaf Teas ; really Fine Teas 
being the only exception, and these command full rates. 
Quality poor. — Lowest quotations for Leaf Tea 8M 
to 8*d. 
Fehruary: — The lower range of prices has attracted 
more demand, and prices show some recovery for all 
but the commonest grades and Teas of very indifferent 
character. Fine Invoices meet with good competition 
at full rates. Quality slightly improved. — 7Jd to 7§d, 
March : —Demand and quotations are adversely 
affected by the unsatisfactory tone of the Indian Market, 
and prices have given way for all but the few teas of 
stand-out character. Quality indifferent.— 6Jd to 7d. 
April : — Pr ices droop for all average grades, but 
finest descriptions oontinue to maintain a firm tone, 
Quality slightly improved. — 7d. 
May : — Further distinct decline most marked in Com- 
mon and Low Medium descriptions, but steadier to. 
wards end of month ; quality varying. Superior grades 
fairly firm. — 5d to 5§d. 
June : — Prices after opening steadily, on account of 
buyers gaining confidence from the large May deliveries 
relapse below the lowest point of the previous month 
for all but fine Teas. Auction rates towards end of 
the month show slight reoovery. Quality indifferent.— 
5d to5|d. 
July : — Demand becomes more aotive and prices show 
gradual and substantial improvement, especially for finer 
descriptions. Quality better. — 5Jd. 
August : — Offerings smaller. Competition brisk. Fine 
Invoices realize higher rates. Good Medium to Fines 
Medium Broken Pekoes, and Good Common to Good 
Medium Leaf Teas show a substantial advance, Com- 
mon in good enquiry. Improvement in quality well 
maintained. 5Jd to 5Jd. 
September: — Demand outstrips supply, and Common 
to Fair Common Leaf kinds experience a very con- 
siderable rise in prices; all o< hers steady to firmer 
excepting Fine quality of Broken Pekoe, which is 
rather plentiful, and rules irregularly. Quality distinctly 
improved. — 7i-d. 
October : — The brisk demand at further advancing 
rates continues until quite towards the end of the 
month, when prices commence to be adversely affected 
by the lower range established in the Indian Market . 
Quality remains satisfactory. — 9^d. 
Novemker : — Demand has slackened, and prices ex- 
perience a heavy fall from the highest point previously 
reached, about 4d for fine grades of Broken Pekoe 
and Pekoe, and more than 2d for Medium and Com- 
mon grades of Pekoe and Pekoe Souohongs. Demand 
at the reduced rates becomes again more active. Quality 
falling off.— 9d to 9Jd; 
December : — Are in moderate supply, and grades 
below Is fully recover the decline of the past month 
and close firm with good demand. Better grades — 
except finest — are slow of sale and rule irregularly. 
Quality uneven, but generally fairly good. — 8Jd. 
THE BLACKMAN SYSTEM OF WITHERING. 
(By the " Peripatetic Planter") 
To the Editor of the " Ceylon Observer. " 
Yon were good enough to reprint in your issue of 
the 26th November an article by me under this head- 
ing from the Indian Planters' Gazette. In an editorial 
footnote, commenting favourably upon this reprint, 
you conclude as follows : — " But what a revolution 
has taken place in the ideas of tea curing since we 
were told that we must make provision of sp^ce 
for withering tea slowly by cool atnn spheric air.'' 
Permit me to correct this suggestion. The Blackmail 
System is merely a scientific application of cool 
withering, — cool, that is to say, as compared with the 
hot air of olmlalis or dttools such as we had to use 
in old! days in wet weather. The warmth of the 
