THE  TROPICAL  AGRICULTURIST. 
[Sept,  i,  1892. 
156 
or  increased  as  the  ease  may  be,  at  the  rate  of  £25 
per  acre.  The  cost  of  the  survey  will  be  defrayed  by 
the  Vendors  and  the  Company  in  equal  proportions. 
The  Directors  estimate  that  the  output  of  tea  from 
the  three  estates  should  alone  yield  a grois  profit  of  at 
least  £2,500,  and  save  as  to  the  Managing 
Director’s  salary,  and  a fixed  annual  fee  of  £50  for 
each  Director,  the  D’reotors  have  made  their  re- 
muneration subject  to  the  profits  available  for  dividend 
on  the  ordinary  shares  exceeding  10  per  cent.  Of 
any  profits  in  excess  of  10  per  cent  the  Directors 
will  be  emitted  to  one-fith. 
In  estimating  the  above  profit  the  Directors  have 
based  their  calculations  on  the  present  production  of 
tea  at  prices  under  those  now  ruling.  This  produc- 
tion, as  already  pointed  out  may  be  expected  to 
increase  very  materally.  The  Directors,  moreover, 
hope  shortly  to  arrange  for  the  acquisition  of  further 
estates  oc  advantageous  terms. 
In  the  present  issue  of  capital  the  Directors  believe 
that  they  have  made  ample  provisions  for  working 
expenses  and  improvements. 
The  ODly  Contract  eite-ecl  into  is  one  bearing  date 
the  10th  March,  1891,  but  executed  after  the  incor- 
poration of  the  Company,  and  made  between  Charles 
Shand,  Charles  Edward  Hood  Symons  and  Francis 
Shand  RobertsoD,  and  the  Compauy  for  the  sale  and 
purchase  of  the  three  above-mentioned  E-dat<s.  It 
may  be  inspected  at  the  Offices  of  the  Company’s 
Solicitors. 
Application  for  Shares  must  be  made  in  the  enclosed 
form,  and  where  no  al'otment  is  made  the  deposit 
will  be  returned  in  full. 
Prospectuses  and  founts  of  application  for  Shares 
may  be  obtained  at  the  Registered  Offices  of  the 
Company,  2,  Lime  Street  Square,  B.  0. 
Loudon,  1st  June  1392, 
GOCOA. 
One  of  the  best  advertisements  that  an  article 
of  popular  consumption  oan  have  is  a mention 
in  the  Budget.  Mr.  Goschen’s  reference  to  cocoa 
two  or  three  years  ago  sent  the  sale  of  that  com 
modity  up  by  leaps  and  bounds,  and  his  eulogy 
of  British-grown  tea  in  last  year’s  financial  state- 
ment. according  to  a leading  firm  in  Minoing-lane 
who  have  just  published  a review  of  the  tea  trade 
for  the  year  has,  had  a like  effect  on  the  Indian 
and  Ceylon  trade.  Coupled  with  the  reduction  of 
duty  it  gave  a stimulus  to  the  sales,  whioh  is  seen 
in  a striking  way  in  the  statistics  of  the  year. 
During  the  twelve  months  ending  the  31st  May 
there  were  7-J,  million  pounds  more  of  Indian,  18J 
millions  more  of  Ceylon,  and  13 J millions  less 
of  Chinese  tea  imported,  while  there  was  a con- 
siderable increase  in  the  re-exports  abroad,  probably 
due  to  the  same  causes.  It  is  hardly  to  bo  won 
dered  at,  therefore,  that  the  Chancellor  of  the 
Exchequers’  nsrne  stands  at  the  present  time  very 
high  in  Mincing-lane.— Radical  Review,  June  21st. 
CEYLON  ESTATES  INVESTMENT 
ASSOCIATION. 
AMMJAL  MEETING. 
The  eighth  ordinary  general  meeting  of  the  Ceylon 
Estates  Investment  Ats oo iation  (Limited)  was  held 
within  the  company’s  offices,  West  Giorge  Streat, 
today- Mr.  J.B.  Macbrayne  presiding.  The  chairman, 
Id  moving  tho  adoption  of  the  report  (whioh  has  al 
ready  been  published),  mentioned  that  they  had  expen- 
ded  £2  431  10s  3J,  in  addition  to  the  factories  and  on 
new  machinery.  This  expenditure  was  absolutely 
necessary,  on  account  of  the  increasing  tea  crop. 
They  would  have  liked  to  show  a larger  profit;  but 
taking  all  things  into  consideration,  the  result  was 
very  satisfactory.  The  out-turn  of  tea  hfid  bpen 
224,000  lb.  or  an  iuciease  of  20  per  cent,  over  the  pre- 
vious year.  Owing,  however,  to  the  low  state  0t  the 
market,  the  prices  realised  had  been  lower  than  last 
year.  The  prospects  for  the  comingyear  were  encoura- 
ging, the  tea  crop  beiog  15,000  lb.  over  last  year’s 
crop.  A dividend  of  7^  percent,  was  proposed. 
Mr.  H.  G.  Crum  seconded,  and  the  report  was 
adopted. 
Rev.  Dr.  Grant  and  Mr.  Robert  King  were  renppoiD- 
ted  direotors,  and  Mr.  A.  Moore,  c.  a.,  was  reappointed 
auditor. 
This  wBsall  the  business. — Glasgow  Evening  Mail. 
NOTES  ON  PRODUCE  AND  FINANCE. 
Indian  Tea  and  The  Chicago  Exhibition, — The 
sleepiness  of  the  Indian  Government  in,  at.thelaBt 
hour,  only  consenting  to  lend  official  aid  to  the  tea 
industry,  in  order  that  it  may  be  represented  at 
Chicago,  is  thus  commented  on  in  The  Times  of 
Tuesday.  It  says  ; — “ The  representatives  of  the 
Indian  tea  industry  seem  to  have  at  leDgth  awakened 
to  the  necessity  of  opening  out  new  markets  for 
the  enormously  increased  tea  or  op  of  India.  Recent 
telegrams  intimate  that  ten  le»diDg  Calcutta  firms 
have  subscribed  a thousand  rupees  each  towards  the 
fund  for  securing  a proper  exhibit  of  Indian  teas 
at  the  Ohicago  Exhibition  ; that  Indian  tea  plants- 
tions  with  an  aggregate  area  of  about  10C, 000  acres 
have  accepted  the  proposal  of  a voluntary  oess  for 
the  same  purpose  ; and  that  the  Government  of  India 
has  tardily  consented  to  give  some  aid.  The  aotion  of 
the  Government  of  India  in  this  respect  has  been 
alike  feeble  and  dilatory.  India  is  at  present  the 
country  in  Ihe  world  whioh  is  making  the  most  impor- 
tant start  in  new  industries  and  productions.  Yet  it  is 
the  country  in  the  world,  if  we  exclude  uncivilised  and 
self-isolating  regions,  which  will  be  most  poorly  repre- 
sented at  the  World’s  Fair  in  America.  It  iscstimated 
that  the  sums  officially  allocated  from  various  sources 
by  France  and  Germany  to  secure  an  adequate  re- 
presentation of  their  national  industries  aggregate 
£300,000.  England  has  appointed  a Royal  Commission 
with  a Parliamentary  grant  of  £60,000  for  the  tame  end; 
and  even  in  little  colonies  like  Ceylon  the  looal  Gov- 
ernment has  recognised  the  importance  of  the  oppor- 
tunity and  is  stated  to  have  contributed  R60,000  for  the 
exhibits  of  the  island  products.  The  Government  of 
India,  with  infinitely  greater  interests  at  stake,  has 
not  only  failed  to  appreciate  the  opportunity,  but  it 
has  stolidly  refused  the  otfers  made  to  it." 
The  Speead  or  Tea  Agencies. -One  effeot  of  the 
great  increase  in  the  tea-drinking  habits  of  the  nation, 
and  the  consequent  increasing  consumption  of  tea, 
is  to  be  seen  in  the  extension  of  tea  dealing  or  “ dab- 
bling ” in  tea.  We  allude  to  retail  transactions  all  over 
the  country.  Besides  the  vast  number  of  grocers  and 
tea  dealers  everywhere,  there  are  a host  of  tea  agents 
and  travellers  v ho  are  paid  to  sell  some  special  blend 
or  garden  tea,  and,  in  addition  to  these,  there  are 
humerus  small  agents,  poBtmen  and  others,  who 
eke  out  a slender  inoome  by  taking  orders  fo?  tea 
when  they  oan  get  a chance.  Thus  a large  trade  in 
tea  is  transacted  outside  the  recognised  media,  such 
as  the  grooer,  oonfectioner,  and  chemist,  and  it  is 
to  those  as  well  as  to  the  shopkeepers,  that  the  teas 
of  Ceylon  especially  owe  some  of  their,  popularity. 
The  spread  of  tea  agenoies  is  a good  thing  for  the 
tea  planter.  It  makes  him  less  dependent  on  the 
grocer.  Whether  the  consumer  benefits  by  the  intro- 
duotion  in  some  instances  of  unskilled  labour,  and 
the  connection  of  blends  of  tea  by  others  than  expert 
hands,  is  a matter  open  to  more  doubt. 
Natal  Tea.— As  mentioned  last  week,  some  118 
packages  of  common  quality  Natal  tea  in  small  breaks 
was  offered  in  Minoing  Lane.  The  Pekoe  fetched 
5-’-d  to  6jd,  Broken  Pekoe  4|d,  and  Pekoe  SouchoDg 
4d  to4jd.  Tea  planting  has  not  yet  become  very 
popular  in  Natal,  but,  should  the  output  increase, 
the  South  Afrioan  demand  would,  we  imagine,  be  quite 
sufficient  to  cover  a reasonable  production.  Natal 
is  not  likely  to  prove  a rival  to  Indian  and  Ceylon 
in  Mincing  Lane  so  far  as  tea  is  concerned.— H,  and, 
C,  Mail , July  ist. 
