Oct. 2, 1893.] THE TROPICAL AGRICULTURIST. 
253 
LIMITED COMPANIES AND THE VALUATION 
OP TEA PROFEETr. 1 
Our oorrespondent " Tea Planter " raises a very 
important question in tha letter on page 257. 
The subject of it, he says is one which Editors 
ought to disouES and he thinks as much res- 
ponsibility rests on us in connection with the 
formation of local Limited Liability Companie* 
aa there does on the conductors of •'Financial" 
and other special newspapers at home. Therein, we 
beg to differ. Before we could venture to Bet 
omselves to disoufs the pro's and con's of each 
lluntation or other Company that might be brought 
forward, we should have to &'M an expert to our 
staff and devote far more space and attention to 
the subject than the oircumatances of the case 
would warrant. In most instances, we can only pro- 
fess B general acquaintance with the subject 
and the application of common-sense and unbiassed 
judgment, and we must still look to critics like 
"Tea Planter" and others, to enlighten us and the 
general public where oases are supposed to arise 
of unreliable valuations or exaggerated pros- 
pectuses. The ^illustration afforded by our corre- 
spondent of two VRluationa (we suppose made at 
short intervals?) differing so greatly as £75,000 
and £105,000 is a very serious one and carries 
us right away back to the bpeculative days of 
coffee and the inflation caused by cash credits. 
Certainly any busineBs which is the outcome of 
inflated valuations of tea or other property ought 
to be condemned by every right-minded person 
in the community, and vve quite agree with 
" Tea Planter " that — other things being equal — 
Limited Plantation Companies in Ceylon whose 
capital stands at no more than £30 per acre for 
tea in bearing are much to be preferred to those 
rated at £40 to £50, But, at the same time, 
would it be fair or right to condemn the latter 
B:mply for this reason ? There are tea properties 
up and down the country which would be ex- 
tremely bad bargains at £30 an acre ; but as 
'• Tea Planter " well knows there are others, 
whose proprietors would laugh the purchaser or 
Limited Company to scorn, who ventured to 
approach them with an offer of £40, and in some 
oases we know, of even £50 per acre for their full 
bearing tea. " Tea-planter," however, enters into 
crop figures and anticipated profits per lb. 
and when he asks us if it is reasonable 
to count on 25 cents prrfit per lb. of 
made tea, per annum, we have no hesitation 
in Baying that only very exceptionally good, 
or heavy bearing, tea would justify such 
an estimate. We have no doubt that such a 
rate of profit has been, and will yet be 
realisnd in Ceylon ; but with the certainty of 
increasing production and the uncertainty about 
new markets and prices keeping up, we do think 
it to be an extreme rate of profit to put btfore 
the public for any concern on a large scale. In 
saying so, we have no pnrticular Company or 
pUntation in view: if '• Tea Planter " has, he 
ought to send us the prospectus or valuation and 
tell UB aU ! r knows, fo that we may miike 
furtLei iiiquiry and see whether a good case ie made 
out for giv^ll^ funhor eounpel or even warning, 
in the interests of the (!0> d namo of the Tea 
Planting Industry of Cejliai. 
NEWS FEOM THE CENTRAL PROVINCE- 
PLANTING AND OTHERWISE. 
(]S/ote» hy " Wanderer.") 
Sept. 5th. 
Ceylon Tea in AmEEioi. — We now have Mr. 
Grinlinton's strongly expressed opinion backed up 
by Ceylon planters who have lately visited Aratrioa 
and have a large stake in < eylon tea properly, 
ihftt we must at once take meaKures to eupply the 
Americans with the tea we have at such great 
expense forced on their notice. The Ceylon Gov- 
ernment and the Planters' Association through 
thsir Tea Leaf Fund must subsidise some large 
Company to be managed by Mr. Grinlinton in 
America for some time at any rate, which will 
have depSts in some of the principal cities where 
Ceylon tea, black or green, may be supplied. 
There is the Ceylon Tea Company urdrr the 
patronage of the Ceylon Planters' Association, and 
in which Ceylon planters, proprietors, managers, 
assistants and even conductors are shareholdcra.' 
Why should not the capital of this Company be 
raised to R100,000 and be the channel by which 
the Government and Tea Fund can further Kdver- 
tise Ceylon Tea. This Company has as its Agtnts 
ore of the leading agency firms in Coicmbo 
Me ssrs Whittali & Co. I trust the Ohaiiman of 
the Cfcylon Tea Company and the Ohairmun of 
the Planters' Association will take piompt steps 
to put the Ceylon Tea Company in a 
strong position and not allow the present 
shareholUers' money to share the fate of the 
American Tea Company, Messrs. MoCombie Murray 
Arthur Pineo, &e.— A Company and a Compfiny only 
can meet Mr. Grinlinton's requirements. Why 
not the Ceylon Tea Company ? 
Tea down id per lb. shows the Ceylon planter 
that hie only hope is to have new outletc for his 
tea. China it appears has not thrown up the 
sponge, BO Ceylon must continue to advertise 
advertise, adxertise the purity of its tea, the ex- 
cellence of its preparation, and the iron its soil 
contains. Mr. Grinlinton can be left with safety 
to do that for us in America if he gets money, 
Mr. EogivuB in Russia if he gets support as well 
as promises, and the present campaigners in 
Australia and New Zeeland, to the latter of which 
Mr. Thorn goes as a fresh agent— by timely 
subsidies and parcels of tea. 
Indian Tea has increased its exports 
to United Kingdom from lb. 
Ist May to 19th August . . 2,700,000 
Ceylon Tea .. .. from 
lat June to 31st August . . 4,300,000 
Ceylon Tea has increased its exports 
to Australia and New 
Zealand from 1st June 
to 31st August .. 800,000 
Coooa. — Those interested in this cultivation would 
do well to mark the following figures : 
Total Ceylon exports from 1st Janu- cwt 
ary to 28th August 1893 , . 24 456 
Do. Do. 1892 ,, 14,564 
Increase . . 9 §92 
or over lb. 1,000,000. 
a jump of 30 per cent in the exports of cocoa in 
the first 8 months of the year is someRhat 
alarming— but wbm we study the movements of 
stock in Loodon aud Continental countries, it 
becomes more so. 
In Loudon and Liverpool, stock 1893 Aug 1st 18^5 
bags. bags. 
89, f 3.S 86,.H72 
Havre .. 42,t)30 38,452 
131,668 124,824 
