March i, 1895.] 
THE TROPICAL AGRICULTURIST. 
TEA IN AUSTRALIA. 
Melbourne, Feb. 9. 
Tea. — A good business has been transacted in China 
teas, sales comprising 300 half-chests broken leaf, GOO 
heavy weights common to medium congou, 300 half- 
chests congou at 5d to 5jd, 1,700 half-chests medium 
to good medium panyong at 6d to 6|d, 350 boxes 
congou at 7d, 100 half-chests panyong for export at 
7}d, 200 quarter-chests buds at 8Jd to lOd, and 50 
half-chests kooloo at 82d. Ceylons have been rather 
quiet, sales reported covering only SO packages at up 
to 8hd. Indians have had fair sales privately, cover- 
ing 200 chests common and 700 chests at prices rang- 
ing from 7^d to Is.- Australasian. 
ACREAGE. 
THE AGRA OUVAH ESTATES COMPANY, 
LIMITED. 
Feb. 23. 
At the annual ordinary general meeting of the 
Agra Ouvah Estates Co., Ld. held this day, 
Mr. W. H. Figg, in the chair, the Reports and 
Accounts were adopted and a final dividend of 
10 per cent was declared making 16 per cent 
for the year. We quote this Report as follows : — 
ACREAGE. 
Agra Ouvah. Fankerton. 
Acres. Acres. 
Tea in full bearing - 172 Tea in full bearing - 87 
,, in partial bearing - 20 „ in partial bearing - 17 
not in bearing - 110 ,, not in bearing - 61 
Coffee amongstTea (HOacres) Coffee amongst Tea (61 acres) 
Crass and Jungle - 29 Grass, Patana and Scrub - 28 
Total Estate 331 Total Estate 103 
Grand Total 521 Acres. 
The Directors have pleasure in presenting to the Share- 
holders the Accounts of the Company for the past year. 
Notwithstanding a generally unfavourable season for Tea 
in the higher Districts, the yield was very satisfactory, 
being 157,351 lb. or 17,351 lb. over the Estimate, whilst 
the Coffee Crop exceeded the most sanguine expectations 
of the Directors, the quantity harvested to 31st December 
being 3,280 bushels parchment against an Estimate of 
1,000 bushels. 
The average net prices realized for this produce were 
68j c ents per lb. and R.18'26 per bushel respectively. 
After making the usual provision for depreciation of 
Buildings and .Machinery, the net profit for the year 
amounted to R100,382'45 or about 27 per cent on the paid 
up Capital of the Company. An interim Dividend of 6 per 
cent was declared on the 4th August last, and the Directors 
now recommend the payment of a final Dividend of 10 per 
cent, making 16 per cent for (She year, anil that R10, 000 
lie transferred to Depreciation Account and R25,000 to an 
Extension Fund. This will leave a balance of R5,382'45 to 
be carried forward to the current Season's Account. The 
profit realized would justify the Directors in recommending 
a larger Dividend, but they think that the course proposed 
will commend itself to the Shareholders. As a consider- 
able sain is required to meet the outlay on Capital Account 
Incurred since the formation of the Company and the cost 
of further improvements to the property, it will be neces- 
sary to idler for subscription the unissued shares if a sub- 
stantial proportion of the yuar's profits is not reserved. 
The Estimates for tin- current year are 160,000 lb. of Tea 
and l.iino bushels of Coffee on an expenditure of R60,901, 
which sum includes the cost of manufacturing 85,000 lb. 
of Tea for neighbouring proprietors. It is estimated that 
R11.37S will also be spent "n Capital Account principally 
for a dam and turbine, and also for erecting permanent 
lines, painting Timber Trees and supplying all the yoilrfg 
lea openings. 
in terms of the Articles of Association, Mr. < w. < 'arlyon 
retires in rotation from the Office of Director, but is eligible 
tor re-election, It will be open to the .Meeting to elect 
another Director. 
THE GLASGOW ESTATES COMPANY, 
I.IMITKD. 
At the annual ordinary general meeting of the 
Glasgow Estates Company, Limited held this day 
Mr. John (i. Wardrop in the chair, the report 
and accounts were adopted and a linal div idend 
of 1'-' per cenl was declared making 1 SA percent 
for the year. We quote this Report as follows : — 
Glasgow Estate. Nithsdale Estate. 
Tea in full bearing 147 ' Tea in full bearing 209 
Do partial bearing 50 Jungle, &ci 47 
Do not in bearing 159 
Coffee amongst tea (119 
acres) 
Grass - - 2 
Clearings for tea ■ 20 
Jungle, &c. - • 53 
Total Estate 
458 
Total Estate 
256 
Grand Total . . 714 acres. 
The Directors have pleasure in submitting to the share- 
holders the accounts of the Company for the past year. 
Nithsdale estate, which was purchased by the Company 
on 1st July last, was worked separately from Glasgow for 
the six months ending 31st December, but all the pro- 
duce was disposed of under one mark and, in the annexed 
accounts, the expenditure and income of the two estates 
are not shewn separately. This year the two places will 
be treated as one estate. 
Owing to unfavorable weather, the quantity of tea 
secured was considerably less than was estimated, being 
98,824 lb. from Glasgow and 38,120 lb. from Nithsdale, 
against estimates of 120,000 lb. and 40,000 lb. respec- 
tively. On the other hand the coffee crop was much 
better than was expected, the total seemed being 1.12S 
bushels parchment against preliminary estimates of 425 
bushels. During the year cinchona bark was harvested 
to the extent of about 18,500 lb. of which the greater 
part has been shipped to London, and, as account sales 
of this have not yet been received, no value is given for 
it in the accounts. The net average prices for tea and 
coffee were over 69^ cents per lb. and R1S"25 per bushel 
respectively. 
After making the usual provision for depreciation of build- 
ings and machinery, but excluding premium on new 
shares, the result of the year's working is a profit of 
R64, 729-17, of which about R13.000 were earned in the 
first half of the year, and this amount was distributed 
amongst shareholders in an interim dividend of 6j per 
cent, at the rate of 13 per cent, per annum. The re- 
maining profit is equal to 151- per cent, for the second 
half year, on the increased Capital of the Company, or 
at the rate of 31 per cent, per annum. 
The Directors recommend a final dividend of 12 per 
cent., making 18.J per cent, for the year, that R5.000 be 
added to depreciation account and R0,6O3 - 34 to the Ex- 
tension Fund and that, after payment of R350 extra fees 
to the Directors in terms of the resolution passed on the 
18th February 1893, the balance of R77.VS3 be carried for- 
ward to the current year's account. 
In accordance with the special resolutions passed by 
shareholders on 25th April and 1st June last, the capital 
of the Company was raised from R200.000 to 11325,000 by 
the creation of 250 new shares of R'iOO each, which were 
issaed at a premium of R175 per share. The premium 
so obtained, viz. : R43.750, which now appears at the 
credit of profit and loss account, the directors propose 
should be transferred to the Extension Fund, bringing up 
this fund to R55.000. 
The estimates for the current year are 205,000 lb. Tea 
and 500 bushels coffee, on an expenditure on working ac- 
count of R00,500. A further sum of R6.800 will probably 
be required for additions to the factory, planting in tea 
about 20 acres land and for other works on capital 
account. 
Mr. W. II. G. Duncan and Mr. A. Thomson having 
during the year resigned their seats on the board, .Mr. .1. 
ti. Wardrop and Mr. O. W. Carlyon nominated to fill 
the vacancies. In terms of the articles of Association 
'Mr. C. A. Leechman retires by rotation, but is eligible 
for re-election. During the absence of Mr. YV. Meughi- 
son from the island, the Directors placed the visiting 
of the Company's properties in the hands of Mr. A. 
A. Cross. • 
THE CASTLEREAGB TEA COMPANY or 
CEYLON, LTD. 
The fourth annual ordinary general meeting of 
this Company was held at the offices, No. 13 Queeu 
Street, Colombo, on the '25th February 1895. There 
werejreient Messrs. J. H. Storey I Managing Direc- 
tor in the chair) V. A. Julius, J. A.' Martin i Directors.) 
B. G. L. Breinuer (Secretary), W. Moir, A. M. Caldi- 
cott 'smith and bv Attorney, A. H. Dingwall and 
Mtb. R. B. Richards. 
The SECRETARY r ad the notice convening the 
meeting. 
The Secret art read i ho minutes of the ordinary 
annual general meting held 21st Felnuuy 1S1M 
which were ^doly conlinned. 
