162 
TK£ TROPICAL AGRICULTURIST. [September j, 1888. 
Planted Nov.-Dec, 1884, on Spring Valley. .271 acres, 
now 34 years old. 
„ May, 1885, on Oolanakande. .143 acres, 
now 3 years old. 
„ Nov.-Dec, 1885, on Spring Valley. .230 aores, 
now 2£ years old. 
„ May, 1886, on Oolanakande... 7 acres, 
2 years old. 
Total area under tea 651 acres. 
From the above table it will be seen that most of 
the Tea has now attained an age when a consider- 
able yield of leaf may confidently be looked for, 
while on the other hand as this yield increases the 
appliances for treating the leaf will also have to bo 
supplemented. 
The Tea is all growing well, and the quality of the 
present year's crop shows a satisfactory improve- 
ment on the first pluckings ; the market, however, 
rules considerably lower. 
The importance of manuring Tea which ha6 been 
planted on land formerly under Ooffee, as is the case 
with the Company's Tea clearings, is every day be- 
ing more clearly demonstrated both in regard to yield 
and quality. During the current Season a consider- 
able area has been manured with bulk, and this work 
will be continued according as circumstances and the 
results shown by the area already manured may war- 
rant. Reports recently received with regard to the 
manured area are encouraging. 
Crop, 1887-88. 
During his recent visit to Spring Valley Mr. Brown 
was much pleased with the appearance of both Coffee 
and Tea, and there seemed a possibility of the de- 
parture of green bug, 75 per cent of this pest having 
been killed by the cold wet weather of December last. 
Advices since to hand report the rapid increase of 
green bug, and although in his latest letter the Manager 
writes more favourably with regard to this pest, the 
Board fear that the original estimate of 3,140 cwt. 
from the 990 acres now remaining under Coffee will 
have to be very considerably reduced. 
With this contingency before them, and also the 
possibility of having to convert into Tea a further 
portion of the Coffee area if the ravages of green bug 
continue, the Board consider it highly prudent to retain 
a substantial part of the balance standing at the credit 
of Profit and Loss. 
The total estimate of Tea for the Season was 30,800 
lb., and this will be exceeded, the deficiency of Crop 
on Oolanakande being more than balanced by the ex- 
cess of Crop on Spring Valley. 
Oolanakande Estate was for some time disappointing 
as to the yield of Tea leaf, but of late better re- 
sults have been given, aud it is quite possible that in 
another year's time this estate may be self-supportiug. 
The Government have decided to carry on the Rail- 
way on the present broad gauge, and that only as far 
as Haputale, a decision which the Board much regret, 
as it will condemn the districts of Badulla, Madulsima, 
and Hewa Eliya, to permanently expensive transport. 
This Company is now working a service of bullock 
carts of thtir own, by which they cart their produce 
to the present Railway Station at Nanuoya ; by this 
means the Company effect a saving in cost and secure 
more regular transport. 
From the information given them by Mr. Brown the 
Board are glad to express their satisfaction with Mr. 
A. T. Rettie's management of Spring Valley. 
Mr. Edward Oonder, a Member of the Board, retires 
on this occasion, and, being eligible, offers himself for 
re-election. 
Messrs. Deloitte, Dever, Griffiths & Co., the Auditors 
also offer themselves for re election. 
By order, 
J. Alec. Roberts, Secretary. 
July 25th, 1888. 
The Spuing Valley Coffee Company, Ld. 
Balance Sheet, 31st May, 1888. 
Dr. £ a . d. 
To Capital authorized — 
8,000 shares of 410 each, issued and 
fully paid 80,000 0 0 
,, Reserved Fund 4,012 10 0 
„ Sundry Creditors 1,888 14 11 
„ Bills payable 2,350 0 0 
„ Sales of Produce, a/c Crop 1887-88.. 811 6 3 
£ s. d. 
„ Profit aud Loss Account, 
Balance .. .. 6,595 9 4 
Less Dividend paid 7th 
January, 1888 .. 2,000 0 0 
4,595 9 4 
£93,658 0 6 
Cr. £ s. d. 
By Estates 80,000 0 0 
„ Sundry Debtors 553 2 4 
,, Office Furniture 15 0 0 
,, Charges against Crop 1887-88 : — 
£ s. d. 
Spring Valley . . 9,007 9 3 
OolanakaDde . . . . 531 5 8 
Freight and Sundry 
Charges .. .. 55 5 10 
Directors' Fees .. 416 13 4 
London Office Ex- 
penditure .. .. 217 8 7 
10,228 2 8 
Less profit on Ex- 
change .. .. 1,641 11 2 
,, Cash at Bankers .. 4,4% 0 9 
„ „ in Office . . . . 7 5 11 
8,586 11 G 
4,503 6 8 
£93,658 0 6 
We certify that we have examined the Book3 and 
Vouchers of the Company in London, and that the 
accompanying Balance Sheet aud Profit and Loss 
Account, are, in our opinion, full, sufficient, and fair, 
and exhibit a true and correct view of the affairs of 
the Company. Deloitte, Dever, Griffiths & Co., 
Chartered Accountants, 20th July, 1888. 
Profit and Loss Account. 
crop 1886-87. 
Dr. £ B d 
To Estate Expenditure : — 
Spring Valley — 
General Expenditure 9,995 10 6 
Expenditure on Ac- 
count of Tea ... 2,001 13 0 
£ s d 
11,997 3 6 
Less profit on Exchange 2,775 15 6 
Oolanakande — 
Balance of Expenditure 531 10 2 
Less profit on Exchange 149 5 5 
To Freight, Landing Charges, &c. 
To Directors' Fees 
To Rent, Salaries and Petty Charges 
To Audit Fees 
To Income Tax 
To Balance carried down — Profit 
9,221 8 
0 
382 4 
9 
657 19 
9 
500 0 
0 
289 5 
7 
15 1^ 
0 
33 5 
7 
6,494 18 
11 
To Balance carried to Balance Sleet 
£17,594, 17 7 
6,595 9 4 
£6,595 9 4 
