8 
THE TROPICAL 
AGRICULTURIST. [Julv i, 1893. 
THE CEYLON AND ORIENTAL ESTATES 
COMrANY, LIMITED. 
REPORT OF THE DIRECTORS. 
The Directors beg to submit their Report and 
Audited Accounts for the niue months ending .Slat 
December last. 
The purchase of all the estates set out in the Pros- 
pectus was duly carried out, and, in addition, the 
second half-sHare of Oodewelle Estate was subse- 
quently bought upon favourable terms. The Directors 
are glad to say that this last acquisition has proved 
even more profitable than they anticipated. 
The weather during the year was unfavourable for 
Tea flushing, consequently the crop was not so large 
as ejtpected, either from the Company's Estates, or 
the rtlaud generally. 
The entire sropa (with the exception of 7,970 lb. 
Tea and IIG cwt. Coffee, the value of which is 
setimated) have been sold : the average selling price 
fo the Tea, in Ijondon, being 9'22 pence per lb. 
During the nine months the sum of .f l,2:-i() Ss lid 
has been spent upon new buildings and ma>;hinery, 
and .i'1,684 .'is Od upon extensions of Tea, Coffee and 
Cocoa, and tlioie amounts have been charged to 
capital. Upon renewals and repairs of buildings 
and macliinery the sum of .i;726 lis JOd has been 
expended and defrayeil out of revenue. The ex- 
tensions comprise about 2:-iO acres of Tea, and 215 
acres of Cocoa, interplantud with (,'offee. The first 
clearing of 100 acres, planted with Cocoa and Coffee, 
on Pathraallga, promises to well that orders have 
been given to increase the cultivated area of these 
products by another KG acres. Mr. Tbring, who has 
recently visited and r ported upon all the Company's 
estates, is of opinion that botti the soil and climate 
of Pathragalla are eminently suited lo the cultivation 
of Cocoa — the growth of the plants to date has been 
most vigorous and satisfactory. It is hoped that this 
estate will eventually prove a most profitable source 
of income. Mr. Thring has also assured the Di- 
rectors that all the estates are in good order, and 
in charge of thorough ly experienced superintendents, 
and he is satisfied that the shareholders can look 
forward to an iucraased output of Tea at a reduced 
cost of production. Recen' advices from Ceylon state 
that the weather was favourable, and the Tea bu.shes 
flushing freely. At foot will be found a schedule of 
the properties, and their respective acreages. 
In pursuance of the conditions under which the 
Debentures were is.nied, viz., that at least a,') Bonds 
of .£100 each be redeemed yearly, the first instalment 
of £3,500 was paid off on the HOth ultimo. 
The balance at credit of Profit and Loss Account 
for the nine months' working, aft(r paying all charges 
and interest, and setting aside £1,039 ISs lod. for the 
estimated loss on the deposit with the New Oriental 
Bank (but subject to Income Tax), is £r),122 7s. 9d., 
which the Directors recommend bo appropriated as 
follows :— 
£ 8. a. 
To writing off the Preliminary Expenses 
Account . . . . . . 1,339 16 11 
,, reduction of the Deben'ure Issue 
Expenses Account . . . . 1,500 0 0 
,, payment of the Preference Dividend 
at the rate of 6 per cent per 
annum . . . . . . 501 0 9 
„ payment of an Ordinary Dividend 
a the rate of 4 per cent, per annum, 
free of Income Tax . . . . 1,485 8 11 
,, carry forward to next account (sub- 
ject to Income Tax) . . . . 293 1 2 
The net earnings of the Company, it will be ob- 
served, show a return at the rate of about 12 per 
cent, per annum on the Ordinary Share Capital, 
after providing for the dividend upon the Preference 
Shares. 
Hugh C. Smith, Chairman, J. 
Managing Director. 
Huaa Chapman, Secretary. 
Huntley Thring, 
8CHE0ULB OF EsiATEe. 
a ■ = " Zf 
s a o < 
. J I g i .sl &^ 
Name of Estae, Hc"_5s^ |l 
•< < < < U, f, 
Bofiahawatte .. 540 78 618 
L\' Vollon end R jt- 
talawa ... 1,216 2,£(j3 3,679 
Df-n'gamc 
(oue-bnil) .. 116 44 fi4 224 
Pfarockllill ..300 ll>2 492 
Kceuakello .. 24U lt>U 60 530 1,030 
Peraf^eiiia .. 374 7W 1,171 
O.dtvillo .. 317 110 9€» 1,395 
WiltfLire and 
U&irpFliire ... 2*^5 .. .. 43 12 504 844 
WttHiiifu Ovs .. 445 122 667 
M' ruiii'j.'i &i d 
Wiltoti ... 193 230 4-23 
Putbia!{i.|la .. loo .. 215 270 685 
Ni.rlbiipsMj a d 
D. eyal a .. 18'3 267 450 
4,309 834 295 43 12 6,385 11378 
Revenue accopnt from 1st Jan. to 3lHt Dec. 1892. 
To Estates WoiitiNO Ac- il a d i h d 
COUNT — 
Expenditure including 
an outlay of il72G 11a 
lOd on Buildings 
Machinery &c. . . 25,500 C 2 
., Genkkal Chahgks — 
Managing Director's 
exptnses to Ceylon . . 140 15 3 
Telegrams &ud other 
Disbursements .. 115 1 0 
265 16 3 
,, London Expenses— 
Directoia'Feos (surren- 
dered) . . ... 
Mo^nagingDirector'sie- 
umneration, Salaries, 
Office (V Law Expen- 
ses, Auditors' Fee, &c. i,(;.">y 9 5 
1,659 9 5 
,, Balance (o Profit and Loss Account 9,154 9 4 
By Estates PaoDUCE— 
Net proceeds 
,, Commission on Consignments 
,, Interest on Mortgages and Ad- 
vances against Produce, drc. 
,, Miscellaneous receipts .. 
i:3C,576 1 2 
35,296 10 8 
421 13 6 
733 1 11 
124 15 1 
£36j576 1 2 
A Galvanic Catebpillar Teasee. — Where 
is invention to stop ? We find the following iu 
the Horticultural Times of April 15th : — 
An electrician has invented • curious device to pre- 
vent caterijillars from crawling up tre-e. Tbe scheme 
is simply to run alternate wires of copper and zitic 
aroui d the trunk of the tree at a I'istance of about 
half an iiich ap.ttt. When the wires have been placed 
in pobitioo, Mr. Oaterpiilar starts bis ascent. Hu 
s'rikes the copper wire, pokes his little nose over it, 
and cnntinuoB. Half an inch further up bis feet strike 
the zii.c wirp. Immediately the current is carried 
tbrougb bis body. With a tquirm of pain, Mr 
cateri)illar drops to the ground or if the curre it be 
strong euuugh, remains a prisoner until the reepcc 
comes. 
