Sept,  i,  1892.] 
THE  TROPICAL  AGRICULTURIST, 
iSS 
of  late  years.  Mr.  Rutherford  mentioned  that  he  has 
been  surprised  to  find  how  well  the  value  of  the 
Kalutara  District  teas  has  kept  uo — this  district 
generally,  he  thinks,  beats  Kelani  Valley  in  prices. 
4 
THE  FOOCHOW  TEA  TRADE. 
From  Foochow  we  have  the  following  tea  news 
under  date  tbe  11th  instant The  export  to  Europe 
is  59,000  lb.  aeainst  38,000  lb.  at  the  Bame  date  last 
year.  It  consists  of  small  quantities,  chiefly  Psklings 
seut  to  Hongkong  ftr  transhipment  to  tbe  mail 
steamers.  The  ‘‘Nestor”  will  be  leaving  tomorrow 
with  | of  a million  of  lbs. — Musters  of  the  New 
Searon’s  crop  were  first  shown  o i the  i'6th  ultimo 
and  the  opening  of  tbe  market  took  place  on  the 
6th  instant.  Some  12,000  boxes  Pakling  had  previously 
been  settled  and  aiBo  Flowery  Pekoes  to  6ome  extent, 
but  the  opening  is  rot  considered  to  have  taken  place 
until  first  purchases  of  the  staple  of  tbe  port  have 
been  made,  that  is,  of  Panycng  district  teas:  of 
which  a purchase  of  1,500  balf-cbests  was  made  in  a 
line  on  ti  e 6th  instant,  ut  Tls.  19  to  25,  the  price 
being  about  15  per  cent  lower  than  that  at  the 
opening  of  last  year.— The  quality  of  ihe  crop,  as  a 
who'e  is  not  equal  to  that  of  last  season  in  point 
of  make  or  in  fineness  in  the  cup,  but  what  is  want- 
ing in  these  respects  is  fully  made  tip  for  by  improved 
etr,  ngtb  in  teas  from  most  ot  the  distiicts.  This 
applies  specially  to  Pakhngs,  PaDycngs,  Saryunes  and 
Tong  Fong  Tongs.  Of  He  Yung  Hows,  a few  of  the 
bead  chops  art  as  good  as  last  year,  but  tbe  bulk  of  the 
crop  is  inferior  and  the  same  must  be  said  of  the  Suey 
Kuts.  The  Soomos  have  certainly  tbe  merit  of  being 
strong  and  some  of  the  best  teas  are  thick,  but 
there  is  an  abs  nee  of  quality  in  them.  Kein  Yong 
appears  to  have  ceased  to  pr<  cluce  tea.  The  Sou- 
chong crop  is  disappointing,  and  yet  a few  chops 
which  stand  out  are  distinctly  fine.  The  Flowery 
p.koes  compare  fairly  wi'h  last  year’s  crop  except- 
ing that  there  are  not  the  chops  of  extra  choicest 
quality  as  in  1891  —Prices  paid  ior  the  best  chops  of 
Congou  are  with  few  exceptions  about  15  per  cent 
under  last  year.  If  all  tbe  medium  quality  settled 
does  not  show  this  decline  this  week,  it  is  sure  to 
next.  When  added  to  a general  decline  in  the  tsel 
price  of  10  !o  15  per  cent,  a fall  of  3d  in  exchange  is 
added,  it  must  be  admited  that  buyers  are  acting 
on  comparatively  favourable  terms. — The  first  crop 
according  to  the  teamen’s  account,  will  be  limited  to 
190.000  ohests. — That  would  be  30,000  ohests  less 
than  last  year,  but,  of  course,  these  statements  must 
be  listened  to  with  great  caution.  The  arrivals  of 
Congou  to  date  are  120,000  oheats  against  168,000 
cheBts  at  the  same  date  last  year.  The  shortness  is 
accounted  for  by  a freshet  ou  the  river  having  de- 
tained some  of  the  boatp.— The  settlements  to  date 
20.000  chests  against  18,000  chests  last  year. — The 
Stock  is  99,000  chests  against  149,000  on  the  same  date 
last  year. — Exchange  is  2s  II  sd  for  4 momhs’  eight 
credits,  and  Freight  £2  per  ton  of  40  cubic  feet.— 
N.-C.  Herald , June  24th. 
An  eye- witness  reports  a huge  crowd  of  boats, 
laden  with  tea,  anchored  just  above  the  rapid',  re- 
tained by  the  freshet  on  the  river.  With  the  fine 
weather  of  the  past  two  or  three  days  end  the  si  b- 
sidence  of  the  water,  the  addition  to  the  stork  ot 
tea  next  week  will  be  very  considerable.— Foochow 
Echo , June  11th. 
Owing  to  the  continuous  rain  a total  failure  of  the 
Mocklee  orop  is  reported.  If  this  proves  to  be  correct, 
the  loss  will  not  only  be  severely  felt  by  the  growers, 
but  by  the  manufacturers  of  scented  tea  and  the 
Tientsin  snuff  men. 
We  hear  that  some  of  the  teamen  who  suffered 
heavily  from  losses  on  their  ventures  last  year  have 
done  so  well  this  that  they  are  retiring  from  the  trade 
altogether.  This  is  a wise  step,  no  doubt,  and  they 
will  not  be  ; missed.  In  spite  of  a clearance  last  year 
we  understand  that  there  are  far  too  pnanv  still 
left,  as  shown  by  a competition  upcountry  that  was  ! 
quits  unexpected,  -.f'oochoto  Echo,  June  18tb,  j 
THE  ASIATIC  PRODUCE  COMPANY, 
LIMITED. 
Capital,  £25,000  in  5,000  Shakes  of  £5  Each. 
DIRECTORS : 
Hamilton  A.  Hancock,  of  Messrs.  Hancock  Brothers 
& Co.,  28,  Mincing  Lsne,  E.O. 
Vivian  Hugh  Smith,  71,  PrinceB  Gale,  S.  W.,  and 
Hay’s  Wharf,  S.,E. 
Robert  H.  Letchford,  2,  Lime  Street  Square,  E.  O.,  of 
the  late  firm  of  Messrs.  Harvey  Brothers  & Letohford, 
21,  Mincing  Lane,  E.  O.  (Managing  Direotor). 
PROSPECTU6. 
This  Company  has,  ns  will  be  seen  from  the  Memo- 
random  ot  Association  annexed,  been  formed  for  the 
purpose  ot  acquiring  Tea  and  other  Estates  in  Ceylon, 
and  elsewhere,  of  working  the  same,  and  dealing  gene- 
tally  in  and  with  Eastern  produce. 
The  Company  has  entered  into  a contraot  for  the 
purchase  of  three  Freehold  Estates,  Springwood,  Barra 
aLd  Raugwilteiu  e,  situate  iu  Rakwanainthe  Island  of 
Ceylon,  within  90  mi  lea  of  Colombo,  and  the  Directors 
have  agreed  to  accept  conveyances  of  the  several  Estates 
as  tbe  titles  are  proved.  The  elevation  of  the  Estates 
varies  from  1,500  to  2,800  feet.  Tho  total  area  is  1,557 
acres,  of  whioh  650,are  already  planted  with  Tea.  Of 
the  land  not  nnder  Tea  about  500  acres  are  suitable  for 
planting. 
The  consideration  for  the  sale  of  the  Estates,  as  ex- 
pressed in  the  above  oontract,  including  all  buhdmgs, 
machinery,  and  implements,  is  £23,500,  payable — as 
to  £16,000,  in  5 per  oent.  Debentures,  repayable  at 
par  as  follows,  viz.:  £5,000  iu  10  years,  £5,000 
in  13  years,  £5,000  in  16  years,  or  previously,  at  the 
Company’s  option  ; as  to  £4,OCO,  in  Ordinary  Shares  : 
and  as  to  £4,600,  in  oash. 
Ihe  Titles  to  two  of  the  estates,  namely  Springwood 
and  Barra,  have  been  proved  to  ibe  satisfaction  of  the 
Company’s  Legal  Advisers  in  Ceylon,  but  the  Title  to 
RangnetteDne  still  remains  to  be  proved.  Under  these 
circumstances  the  Dneotors  have  arranged  with  the 
Vendors  forthwith  to  complete  the  purchase  and  to 
obtain  possession  of  Springwood  and  Barra,  amount- 
ing together  to  1,150  acres  or  thereabouts,  on  a pto 
rata  basis  price  per  acre,  leaving  the  purchase  of  Rang- 
weltenne  for  the  present  iu  abeyance UDtil  the  existing 
difficulties  connected  with  its  title  have  been  removed. 
Upon  the  purchase,  which  is  now  on  the  eve  of  com- 
pletion of  the  Springwood  and  Barra  Estates,  the 
a;  portioned  sum  of  £17,500,  part  of  the  original 
purchase  money  or  sum  of  £23,500  will  be  pay- 
able ns  follows,  that  is  to  say  : as  to  £11,200  in  £5 
per  cent.  Debentures  (repayable  at  par  as  follows, 
viz  : £3,800  in  10  years,  £3,700  in  13  years,  and 
£3,700  in  16  years,  or  previously  at  tho  Company’s 
option)  as  to  £3,000  in  Ordinary  Shares,  and  as  to 
£3,300  in  cash.  The  balance  of  the  original  purohase- 
monty,  viz  : £6,000  will  be  retained  until  the  purchase 
of  RaugwelteLne  can  be  efftoied.  The  Directors  hope 
to  brrange  with  tho  Vendors  for  tho  purchase  on 
reasonable  terms  from  them,  of  the  Green  Leaf  off 
the  Rangwelteune  estate,  so  that  the  estimates  as  to 
output  given  in  this  prospectus,  may  not  be  affected 
by  the  Company  being  temporarily  unable  to  acquire 
tbe  legal  possession  of  this  estate. 
The  Tea  Leaf  from  the  three  Estates  is  manufactured 
at  the  Factory  on  Barra.  The  production  for  the  past 
year  has  exceeded  270,000  lb- manufactured  Tea  ; anjl 
it  is  anticipated  that  330,000  lb.  will  be  produced 
when  the  Tea  at  present  planted  is  in  lull  bearing. 
The  estates  are  provided  with  machinery  and  build- 
lDgs,  but  it  is  expected  that  an  outlay  ef  £2,000  will 
be  necessary  to  render  the  factory  thoroughly  effi- 
cient und  capable  ol  dealing  with  the  entire  output, 
and  of  improving  the  quality  of  tbe  tea  made.  This 
expenditure  has  been  allowed  for  in  the  present  issue 
of  capital. 
The  foregoing  particulars  have  been  furnished  by  tbe 
vendors,  and  are  believed  to  be  accuta'e,  but  the 
terms  of  purchai  e provide  that  the  ocreape  is  to  be 
verified,  hy  a Surveyor,  acting  ou  heh»lf  ef  both  parties 
and  should  the  ares  under  tea  prove  be  less  or  more 
(ban  herein  stated  the  purchase  mote  tor  to  be  'edUSfd 
