54o 
THE TROPICAL AGRICULTURIST. 
[Feb. r, 1895. 
overcome, and the shaves of the leading companies 
are at present readily marketable. Since the majo- 
rity of the companies do not publish the result of 
the year's operations until about May or June, we 
are unable to speak with absolute certainty as re- 
gards their operations during the twelve months just 
closed, but there are numerous indications which 
point to the conclusion that 1H'.)1 will prove 
to have been a decidedly more prosperous year 
for the tea industry in India than its im- 
mediate predecessor. For example, we may 
pretty safely calculate that the L uid Mort- 
gage Bank, the British India, and the Eastern Assam 
companies will this time all enter the ranks of the 
dividend payers, and with these accessions there will 
practically be no Indian tea company of any impor- 
tance which has not reached the dividend-paying 
stage. 
Fears have been entertained that the success of 
some of these companies would lead to such a deve- 
lopment of the industry as would result in over-pro- 
duction, followed, naturally, by a decline in prices 
and a contraction of profits. But so far as can be 
judged there is little ground for these apprehensions. 
In the first place, the area under tea in India has 
been little, if at all, extended during the past year, 
for although several new companies have been brought 
out, these represent merely the conversion of private 
undertakings into joint-stock enterprises. The 
only absolutely new concern that has been forth- 
coming during the year is the British Dooars Tea 
Company. It is true other company formvtioni are 
contemplated, but not to an extent which threatens 
anything like a disastrous over-production. Even if 
there should be an increase in the quantity of 
Indian and Ceylon tea grown, shareholders in the 
older companies can afford to contemplate the fact 
with equanimity, considering the expansion of con- 
sumption year by year. In our own market alone 
the past year's consumption is estimated at 215 
million lb. against 203 millions in 1893 and only 
185 millions in 1889. The efforts which have 
been made to spread the taste for Indian tea 
in tile United States, Australia, Canada and 
on the Continent are already msetiug with 
a fair amount of success, and even Russia, 
hitherto a staunch adherent of China tea, is 
beginning to Waver in her allegiance. Fears of 
over-production are consequently scarcely warranted. 
Nor need the depreciation in silver be regarded as 
a danger to the companies. On the contrary, seeing 
that their produce is sold mainly for gold, while the 
large proportion of their expenses are incurred in 
silver, the decline of the rupee has actually proved 
a benefit by enabling them to reduce the cost of 
production. In short, to investors who seek a fairly 
good return for their money, together with a reason- 
ably solid security, a purchase of Indian and Ceylon 
tea companies' shares, spread over several of the 
best concerns and containing a mixture of Ordinary 
and Preference securities, may safely be recommended. 
When the results for the past year are published, we 
shall probably see a further rise in many of the 
quotations. — Financial Times, Jan. 7. 
INDIAN PATENTS. 
Calcutta, 3rd January 1S95, 
Applications in respect of the undermentioned in- 
ventions have been filed during the week ending 29th 
December 1894 :— 
PROCESS OP PRESERVING AND HARDENING TlMBER. — 
No. 374 of 1894. — Friedrich Maurice Grumbacher, 
Kaufmann, in Berlin, Linkstrasse, 28, for improve- 
ments in and relating to the process of preserving and 
hardening timber. 
Opening and Cleaning Cotton and other Fibres- 
—No. 375 of 1894, August Krischner, of 19, Bue Cam- 
bon, Paris, in the French Republic, Engineer, for 
improvements in and connected with beating appara- 
tus employed in opening and cleaning cotton and 
Other fibres, 
VARIOUS PL AN TIG NOTES. 
Tjsa is the Kei.a.vi W-yixkv.— A wutlema.it 
not personally interested in "tea*' ami vet who 
has seen most of the planting district* in the 
island, writes:— "I have ja«t been tliiou<_'li the 
Kelaui Valley— the tea looks ma-mlu-eut — it is 
indeed, the home of the tea plant. ' 
Choi's in South ei:n 1m. is. We learn that 
the Tinnevelly and Madura districts »JW much 
in want of rain for their cotton and grain mum, 
and, indeed, if showers do not fall soon, there 
will be a considerable deficiency in the returns, 
and yet at this late date, rain i- an uiicoininou 
visitor in .Southern India. 
Thf Fall is Cocoa Piucks Lvuokly Pkbmanent — 
A review of - Trade hi lrt.n, appe u iug in the Loudon 
/ i;«c* of January 2nd, has the following on the sub- 
ject of cocoa:— "The past year has witnessed un- 
exampled depression in this article, the depreciation 
for some descriptions amounting to nearly 50 per cent 
on the average value of the preceding five years. 
The cause must be attributed partly to the depression 
in trade, necessitating traders to buy entirely from 
hand to mouth. But the chief facfc was the in- 
creased yield, particularly in Guayaquil (Ecuador), 
where it is stated to be the result of au enlarged 
area of planting. Ceylon cocoa, which suffered the 
he aviest depreciation, is mainly used by American 
manufactures, and for some years commanded a price 
almost double that of other sorts, viz.. from 125s to 
135s per cwt. ; but large yields from Java, the only 
country which produces a cocoa capable of competing 
with Ceylon, combined with the American financial 
crisis, caused a gradual downfall in value, and for 
many months of this year the ruling price for fair 
estate marks was only 58 to 63 per cwt 
Next to Ceylon the severest fall was experienced by 
Guayaquil cocoo, particularly the fine sort known as 
Arriba, which was in excessive supply." 
Bolivia.— A special correspondent of the London 
Times lias been visiting and reporting on the 
South American State in the issue of December 
28th ; he states : — 
The exports from Bolivia are somewhat difficult 
to asoertaiu, but I have made a careful estimate, 
based on fairly trustworthy information obtained by 
exhaustive inquiry. I give this estimate, therefore, 
as approximately correct, at all events as far as 
silver and ether minerals are concerned. It is 
15,000,000oz. silver at 25d £1.502.500 
3,000 tons copper at Bs. 400 per ton . . 
4,000 tons tin at Bs. 300 per ton .. 
Rubber (chiefly sent cm Para 
and included in Brazilian shipments) 
800 tons 
Wool, hides, and skins 
Sundries (gold, coffee, cocoa, 
bark) . . »! . m 
Coined silver 
100,000 
100,000 
160,000 
20,000 
30.000 
10,000 
„ . , . £1,982,500 
At first sight it would appear that Bolivia 
should be an exceedingly rich countrv when the 
value of the exports is more than thrice that of 
the imports. But an examination of the nature of 
the exports shows that nine-tenths is the product 
of mining enterprise and so only benefits a small 
portion of the population ; moreover, in Bolivia the 
bulk of the owners of productive mines are foreigners 
non-resident in the country, hence the profits made 
are of little benefit to the natives beyond the duty on 
the exported material and the wages paid to the 
labourers and employes. In the case of the Bolivia 
mines, a great proportion of the capital invested is 
Chilian, although large sums of English. German, 
and French money have been employed in various 
concerns. Mining enterprise has been in the past, 
and is now, greatly retarded by want of facilities of 
transport and the lack of sufficient capital to provide 
adequate machinery for woring the mines. As these 
difficulties disappear the valus of the exports oi 
metals will increase. 
