*5° 
THE  TROPICAL  AGRICULTURIST. 
[August  i,  1S92. 
the  figures  given  that  the  Company  is  likely  to  earn 
a good  deal  more  ; — 
( Financial  JVews,  June  21.) 
NEW  ISSUES. 
The  Caledonian  (Ceylon)  Tea  Plantations,  Limited, 
has  been  formed  with  a capital  of  £30,000  in  £1 
shares.  The  present  issue  consists  of  25,000  shares, 
of  which  10,000  will  be  allotted  to  the  vendor  as  fully- 
paid  on  aeconnt  of  purchase  money,  thus  leaving 
16.000  shares  to  be  subscribed  for  by  the  public. 
The  Miriacotta,  New  Caledonia.  Selegama,  and  Nika- 
kotua  tea  plantations  in  Ceylon  will  be  acquired  by 
the  company,  nnd  the  crop  for  the  current,  year  is 
estimated  at  200,000  lb.  The  price  to  be  piid  tor  the 
tea  estates,  together  with  the  machinery,  plant,  and 
fixtures,  is  £22,000,  £12,000  being  payable  in  cash  and 
the  balance  in  shares.  The  vendor  has  agreed  to 
guarantee  a dividend  of  6 per  cent  per  annum  for  a 
period  of  seven  years. 
Interest  at  the  rate  of  six  per  cent.  Guaranteed  for 
a period  of  seven  years.  The  Caledouian  (Oeyion) 
Tea  Plantations,  Limited.  Incorporated  under  th 
Companies  Acts,  1862  to  1890,  whereby  the  liability 
of  the  Shareholders  is  limited  to  the  amount  of  their 
subscription.  Capital  £30,000  divided  into  30,000 
shares  of  £1  each.  Issue  of  25,000  Shares  of  which 
10.000  will  be  allotted  to  the  Vendor  as  fullv-p  id 
shares  on  account  of  purchase  money,  and  15,000  are 
now  offered  for  subscription,  on  which  interest  at 
the  rate  of  6 per  oent.  per  annum  is  guaranteed  by 
the  Vendor  for  a term  of  seven  years,  the  balance 
(5,000  shares)  being  left  in  reserve  for  future  work- 
ing Capital.  Payable — 5s  on  application,  5s  on  allot- 
ment, and  the  balance  as  required,  in  calls  of  not 
more  than  5s.  each,  with  an  interval  of  not  less  than 
three  months  between  each  call. 
Directors: — George  W.  Paine,  Esq.  (Chairman 
Kelani  Valley  Tea  Association,  L'mited,)  Cotswold 
Lodge,  Upper  Norwood,  Chairman.  Bennett  Williams, 
Esq.  (Chairman  Anglo-Aseam  Tea  Company,  Limited) 
Wildlands.  Cottenbam  Park,  Wimbledon.  W.  Gow, 
Esq.,  of  Messrs.  Gow,  Wilson  and  Stanton,  Tea 
Brokers,  13  Kood  Lane.  * A.  Ross,  Esq.,  Ceylon 
Planter,  St.  Kierans,  West  Norwood,  S.E. 
Bankers. — The  Commercial  Bank  of  Scotland, 
Limited,  62,  Lombard  Street.  Tea  Brokers. — Messrs. 
Gow,  Wilson  and  Stanton,  13,  Rood  Lane,  E.C. 
Solicitors. — Messrs.  Jenkins,  Baker  and  Macklin, 
134  Fenchnroh  Street,  LondoD,  E.C.  Secretary  (pro 
tem.)— H.E.  Stanley,  Esq., 
Auditor. — Henry  Richards,  Esq.,  11,  Poultry  Cham- 
bers, London, E.C.  Offices,— -11,  Old  Broad  Street,E.O. 
PROSPECTUS. 
This  Company  has  been  formed  for  the  purpose  of 
acquiring  and,  by  the  addition  of  new  capital,  further 
developing  the  following  Tea  Estates,  situate  in  Ceylon, 
and  known  as  the  Miriacotta,  NewOaledonia,  Selegama, 
and  NikakotuaTea  Plantations. 
The  Miriacotta  and  New  Caledonia  are  freehold 
Plantations,  worked  as  one  estate,  situate  in  the  Upper 
Maskoliya  district,  consisting  of  260  acres  of  tea,  10 
acres  of  grass,  and  143  acres  of  virgin  forest,  within 
about  15  miles  by  Government  cart  road  from  the 
Hatton  Station,  on  the  Ceylon  Government  Railway. 
There  is  a large  and  well-furnished  bungalow  on  the 
property  and  ample  coolie  lines.  The  tea  factory  has 
recently  been  completed,  and  is  equipped  with  the 
most  approved  machinery,  driven  by  water  power  of 
which  there  is  an  abundant  and  oonstant  Bupply. 
This  property  has  a most  healthy  climate,  the  eleva- 
tion  being  from  4,300  ft.  to  4,700  ft.  above  Bea  level. 
Tfie  rainfall  is  frequent,  though  not  so  heavy  or  pro- 
longed as  in  other  districts,  the  annual  amount  being 
about  12C  in.  The  lay  of  land  is  easy,  and  the  estate 
is  liked  by  coolies,  of  whom  there  is  "always  a suffi- 
cient supply. 
The  Selegama  is  a freehold  estate  situate  in  the 
Mata'e  West  district  of  Ceylon,  12  miles  from  the 
railway  station  of  Matale.  The  property  is  on  au 
extensive  square  slope  of  the  Amboka  Peak,  at  an 
altitude  lof  about  2,200  ft.  to  3,200  ft.  above  sea  level. 
* Will  join  the  Board  after  allotment 
The  lay  of  land  is  perfect  and  the  property  compact- 
The  rainfall  is  about  100  in.  per  annum.  This  estate 
comprises  about  930  acres,  including  two  small  and 
joining  properties  which  are  worked  with  it,  and  upon 
which  cocoa  and  cardamoms  are  grown.  At  present 
there  are  215  acres  under  tea,  179  acreB  virgin  forest, 
nnd  640  acres  chena  There  is  a buugalow  and  tea 
factory  upon  this  estate,  also  two  rollers  driven  by 
a water-wbeel,  there  being  for  the  present  require- 
ments a sufficient  supply  of  water.  More  machinery 
will  be  required  within  the  next  year,  as  the  younger 
tea  comes  into  fuller  bearing  and  as  further  exten- 
sions are  made.  There  is  plenty  of  coolie  labour  on 
the  estate,  aod  Sinh  lese  can,  if  necessary,  be  had 
from  the  surrounding  villages. 
The  Nikakotua  is  a leasehold  estate,  held  under 
several  long  leases,  subject  to  renewal  at  the  option  of 
the  Lessee,  and  is  also  Bituate  in  the  Matale  district,  1J 
mile  from  the  railway  station,  and  is  bounded  by  the 
Great  North  and  Rato’ta  district  cart  roads.  This 
estate  consists  of  197  acres  of  Chena  land,  of  which 
67  acres  are  now  under  tea.  though  not  yet  in  full 
bearing.  The  rainfall  is  well  distributed,  amounts  to 
80  in.  to  90  in  per  annum.  The  soil  is  of  great 
strength  and  richness,  and  labour  is  abundant.  The  tea 
estates  in  the  immediate  vicinity  of  this  prope.ty  are 
yielding,  according  to  age  of  plaDt,  as  heavily  as  any  in 
the  island.  There  is  no  machinery  upuu  the  property 
at  the  present  time,  but  as  the  tea  comes  into  full 
bearing  it  is  propo-ed  to  erect  the  necessary  plant 
and  farther  to  develope  the  capacities  of  the  estate. 
1 he  quantity  of  tea  soli  in  the  London  market  in 
1891  from  the  above  estates  amounted  in  the  total 
to  128,500  lb.,  at  an  average  price  of  over  10£d,  and 
as  a portion  of  the  tea  grown  npou  these  properties 
is  not  yet  in  full  bearing  it  is  anticipated  that  this 
return  without  any  further  extensions  by  fresh 
planting  will  shortly  be  increased  to  210,000  lb.  per 
annum  ; at  the  same  time  the  Directois  can,  if 
desirable,  increase  the  capacities  of  these  properties 
by  bringing  annually  a greater  number  of  acres 
under  cultivation. 
The  following  is  the  total  area  of  the  above-named 
estates,  together  with  the  crop  of  tea  which  it  is 
anticipated  will  be  produced  during  the  ourrent 
year  : — 
^ .a  -e 
a. 2 £ =3 
Tea 
Forest 
Total 
§f  h 
• r-  © . 
43  - U 
ce  ^ a> 
2 ° a ^ 
5 § a 
<,  <3  o P 
Crop 
Acres 
Acres 
Acres 
Acre  a 
lb. 
Miriacotta, 
including 
^ew  Caledonia.. 
. . ..260 
153 
413 
70 
110,000 
Forest  & Chena 
Selegama. . 
7 1 9 
934 
400 
80,000 
Chena 
Nikakotua. 
430 
197 
130 
10,000 
542  1002  1644  600  200,000 
The  following  figures  takin  from  the  published 
list  in  the  supplement  of  th.-  Ceylon  Observer  represent 
the  Dividends  earned  and  the  present  value  of  the 
Shares  of  severalCeyloo  Tea  Compaui-s  : — 
Capital.  Value  Divi-  Present 
Name 
The  Ceylon  Tea  Planta- 
tions Co , Ltd 
Co.,  Ld 
The  Yataderia  Tea  Co, 
The  Glasgow  Estate  Co., 
of  Shs.  dena. 
price 
per 
cent 
..£200,000 
£10 
15 
£16 
8 months 
’ work. 
. Rt40,000 
R5U0 
12 
E625 
£10 
18  £13  7/ ltd 
'.Rl  90,000 
for  i-yr. 
R100 
13 
R200 
• RIOO.OOO 
R1000 
40  paid 
57  earned  R3000 
’R200.000 
R500 
9 
R625 
The  Kelani  Valley  Tea 
Association .£20,000  £10(5pdl0‘)  Rllo 
The  price  to  be  paid  to  the  Vendor  for  the  purchase 
of  the  above-named  tea  estates,  with  the  machinery, 
plant,  fixtures,  &c.,  is  £22,000,  which  is  to  be  satisfied 
as  to  £12,000  in  cash,  and  as  to  £10,000  in  fully-paid 
Shares  of  the  Company. 
