574 
THE TROPICAL AGRICULTURIST. [February i, 1889. 
of 100,000 lb. made Tea by 6,310 lb. All the tea has 
been sold in the Island at an average net price of 57 
cents per lb. After writing off the balance at debit of 
Profit and Loss account on 31st December 1887 
(R5,995 - 20) and making ample provision for deprecia- 
tion of Buildings and Machinery, the sum of R19.920-15 
remains available for dividend. The directors pro- 
pose to apply R19.800 of this amount in paying a 
dividend of 22 per cent on the paid-up Capital and to 
carry forward to next year the balance of R120-15, 
■which it is hoped will be satisfactory to shareholders. 
The property owned by the Company comprises 404 
acres of Tea in bearing and 363 acres of Forest (in- 
cluding the Ahamalla land), which with Buildings and 
Machinery stand in the books at R94,838 , 81. In the 
original memorandum of the Company it was estima- 
ted that on an outlay of B75,000, — 400 acres would be 
brought into bearing by 1st January 1889, of which 100 
acres were to have been planted iu 1887. As com- 
pared with this Estimate the actual cost, *r mentioned 
above, is R94,838'81, against which wouiJ fall to be 
deducted the sum of R19.920 15 at credit of Profit and 
Loss account, leaving R74, 918-66, whilst the position 
of the Company has been improved by the planting 
having been completed a year earlier than was anti- 
cipated and by the addition of 211 acres of land. It 
is not proposed to open more land this year, but it is 
estimated that R5,376 will be required for additional 
Withering accommodation, Machinery, Oooly lines and 
other "Capital" Expenditure. The estimated crop in 
1889 is put down at 140,000 lb- tea against an estima- 
ted outlay on the estate of R34,624. 
Balance Sheet, 31st December 1888. 
Liabilities. 
Dr. 
To Capital— 
100 Shares at R900 per share ... ... R90.000 — 
To Debts and Liabilities of the Company — 
Due to Coolies, Chetties, &c. as 
per Superintendent's Balance 
Sheet R9.129 47 
Directors' and Secretary's Fees 
and Office rent ... 800 — 
Auditors' Fee ... ... 50 — 
To Profit and Loss Account — 
Balanoe atcredit of this accouut 
Assets. 
9,979 47 
19,920 15 
R119.899 62 
Cr. 
By Property (Immoveable) held by the Company, viz : — 
K63.165 31 
Polatagama Estate 
Land 
Buildings ...R15.499 22 
Leas l-10th written 
off this year ... 1,549 92 
13,949 30 
77,104 61 
6,686 70 
Abamalla Land 
By Property (Moveable) held by the Company, viz :— 
Polatagama Estate 
Machinery ... ... 13,809 37 
Less l-5th written off this 
year ... ... ... 2,761 87 
11,047 50 
Stock in Trade 
Value of Tea unsold (since realized) ... 5,413 73 
By Debtsdueto theCompany 
(considered good) 
( 'oast advances 
4,169 24 
Sundry amounts due to estate 
for lent labour, &c. as per 
Superintendent's Balance 
Shunt... ... ... 1.480 82 
liy Clash and Investment 
Qa$h iii Bank on Current Ac- 
count... ... ... 3,934 16 
Cash l ixcd Deposit ... 10,000 — 
[nterecl secured to 31»t Dec... 
1MM on Fixed Deposit ... 62 86 
5,050 06 
13,997 02 
14119,899 (12 
Polatagama Estate Working Account, 1888. 
Dr. 
To Expenditure for year as per 
Superintendent's Monthly Re- 
ports . ... ... R36.137 75 
Less Expenditure on Perma- 
nent works transferred to 
debit of Polatagama estate, 
viz : — 
On Buildings R2.295 30 
On Machinery 2,842 79 
On Field Works 2,205 78 
7,343 87 
To Balance carried down 
To Amount written off for depreciation vu : — 
l-10th Cost of Buildings ... 1,549 92 
l-5th Cost of Machinery ... 2,761 87 
28,793 88 
31,701 21 
R60.495 09 
To Balance transferred to credit of Profit and 
Loss Account ... ... 
Cr. 
By net proceeds of 106,310 lb. tea 
By Balance brought down 
R31.701 21 
60,495 09 
31,701 21 
R31.701 21 
Profit and Loss Account for the Year Ending 
31st December 1888. 
Dr. 
To Balance brought forward from last account 
,, Directors' and Secretary's fees and office 
rent for year 
,, Stationery, postages and petties 
,, Interest 
,, Auditor's fee 
,, Balance 
R5,99o 20 
1.000 — 
37 40 
391 67 
50 — 
19,920 15 
R27.394 42 
Cr. 
By Transfer fee 
„ Balance transferred from Working Account 
The Ceylon Tobacco Company Limited. — Since this 
scheme was first started, it has undergone considerable 
expansion, and what was once but a modest attempt 
at introducing the cultivation of tobacco on a small 
scale in the Matale district, has taken the shape of a 
large limited liability company, with a capital of 
R500.000, almost the whole of which is already subscri- 
bed. The company do not apparently intend to confine 
their operations to Matale, for the originators of the 
scheme hope to be in a position to acquire 400 acres 
of land under Kanthalai tank, which can be obttaincd 
on favorable terms. The land is situated 25 miles from 
Trincomalee, on the main road, and is said to be emi- 
nently suitable for growing tobacco, while every portion 
of i t irrigable. We believe that an application has been 
made to the Government for 10,000 acres of fine land 
adjoining, and hopes are entertained that the Company 
will be able to acquire it on favorable terms. Indeed, 
the Government, with wise discretion, is likely to 
accede to the request made them. Until this matter 
can be decided the Company propose to commence 
operations at once on 150 acres on Bandarawella estate. 
Ceylon planters are to be employed for clearing and 
planting work, which no other planters so thoroughly 
understand, but the difficult and little understood 
operations of curing are to be entrusted to skilled 
Java or Sumatra planters specially engaged for the 
work. The Provisional Directors of the Company are 
the Hon. T N. Christie, Mr. EL. K. Rutherford Mr. O. 
S. Armstrong, and Mr. James Hil! ; while the Manuring 
Directorand Secretary is Mr. Hugh Fraser — a manage- 
ment which it is hardly possible to strengthen in any 
way. — Local " Times.'' 
