Sept,  i,  1892.] 
THE  TROPICAL  AGRICULTURIST: 
177 
THE  CEYLON  TEA  COMPANY, 
GENERAL  MEETING. 
Minutes  of  proceedings  at  the  first  ordinary  general 
meeting  of  the  Ceylon  Tea  Company,  Limited,  under 
the  patronage  of  the  Planters’  Association  of  Ceylon 
within  the  registered  office  No.  42,  King  Street,  Kandy, 
on  Monday,  25th  July,  at  3 o’clock  in  the  afternoon. 
Present: — Messrs.  L.  Stuart,  Aranayaka ; A.  L.  Cross, 
Nuwara  Eliya ; D.  Kerr,  Watawala  ; Edward  Webb, 
Kandy,  J.  H.  Kenton,  Colombo  ; J.  Munton,  Kandy ; 
Harry  Whitham,  Dolosbage  ; W.  D.  Gibbon,  Kandy  ; 
A.  Philip,  Kandy. 
The  notice  calling  the  meeting  was  read.  The 
minutes  of  proceedings  of  a meeting  of  the  promoters 
of  the  Company  held  at  Kandy  on  Friday,  the  19th 
June  1891,  were  read  and  were  confirmed. 
In  the  absence  of  the  Hon.  Mr.  L.  H.  Kelly, 
Chairman  of  the  Board  of  Directors,  Mr.  W.  D.  Gib- 
bon took  the  chair. 
The  Chairman  having  made  a few  opening  obser- 
vations, the  Directors’  Report  was  read,  and  the 
statement  of  the  inoome  and  expenditure  aud  a 
balance  sheet  to  30th  June  1892  was  laid  on  the 
table  as  follows: — 
REPORT  OF  THE  DIRECTORS  OF  THE  CEYLON  TEA 
COMPANY,  LIMITED, 
(Under  the  patronage  of  the  Planters’  Association 
of  Ceylon),  to  be  presented  to  the  Shareholders, 
at  the  first  ordinary  annual  general  meeting  of  the 
Company,  to  be  held  within  the  registered  office  of  the 
Company  No.  42,  King  Street,  Kandy,  on  Monday, 
the  25th  day  of  July  1892,  at  3 o’clock  in  the  afternoon. 
The  Ceylon  Tea  Company,  Limited,  was  success- 
fully inaugurated  under  the  patronage  of  the  Planters’ 
Association  of  Ceylon  at  a meeting  held  within  the 
United  Service  Library,  Kandy,  on  Friday,  the  19th 
June  1891,  and  it  was  duly  incorporated  as  a joint 
stock  company  under  the  public  seal  of  the  island  on 
the  25th  day  of  July  1891. 
Preliminary  arrangements  occupied  a good  deal  of 
time,  so  that  practically  it  may  be  said  that  the 
business  of  the  Company  did  not  commence  until 
January  1892.  The  Directors  at  this,  the  first  ordi- 
nary general  meeting,  now  lay  before  the  shareholders 
the  accompanying  statement  of  the  income  and  ex- 
penditure and  a balance  sheet  containing  a summary 
of  the  property  and  liabilities  of  the  Company  made  up 
to  the  30th  June  1892. 
The  Directors  regret  to  say  that  owing  to  the  Com- 
E’s  Bankers,  the  New  Oriental  Bank  Corporation, 
lg  suspended  payment,  it  was  necessary  to  make  a 
call  on  the  shareholders. 
All  the  first  Directors  retire  today,  but  they  are 
eligible  for  re-election  ; it  will  further  be  the  duty 
of  the  shareholders  to  fix  the  remuneration  of  the 
Directors  for  their  services.  The  accounts  of  the 
Company  have  been  examined  and  the  correctness 
of  the  balance-sheet  has  been  ascertained  by  Mr. 
J ohn  Guthrie  whom  the  Directors  appointed  auditor, 
and  they  would  recommend  to  the  shareholders  his 
re-appointment  at  a fee  of  R100.  As  in  the  opinion 
of  the  Board  the  results  of  running  the  Tea  Kiosk 
at  Colombo  are  insufficient  to  justify  the  present 
heavy  expenditure  on  the  staff  there,  the  services 
of  the  Manager  have  been  dispensed  with  and  fresh 
arrangements  are  being  made. 
By  Order  of  the  Board, 
A.  Philip,  Secretary. 
Balance  Sheet  of  the  Ceylon  Tea  Company,  Ltd., 
under  the  Patronage  of  the  Planters’  Association 
of  Ceylon,  made  up  to  20th  June  1892. 
Capital  and  Liabilities. 
T _ „ R.  o. 
1,~To  5aPital  ..  14,432  50 
2,295  shares,  of  which 
210  fully  paid  up  at  R10 
per  share  2,100  00 
784  on  which  paid  up  at 
B7-50  per  share  5,880  00 
„ „ R5-50  6,400  00 
,,  „ R2-50  52  50 
229S  4,840  43 
II.— To  Debts  due  by  the  Company 
Whittall  & Co.  3,626  66 
Sundry  accounts  1,219  77 
R19.278  93 
E.  & O.  E.  Kandy,  25th  July  1892.  A Philip, 
Secretary. 
I certify  that  to  the  best  of  my  belief  the  Balance 
Sheet  contains  a true  and  correct  statement  of  Capital 
and  Liabilities,  and  of  the  Property  and  Assets  of  the 
Company.  (Signed)  John  Guthrie,  Auditor- 
Property  and  Assets. 
III.  By  Property  (immovable):  Supplementary 
Construction  Account 
By  Property  Movable:  Fittings, furnishing 
plants  and  sundry  improvements 
By  Stock  of  Tea 
IV.  By  Debts  owing  to  the  Company... 
Daramadas 
30 
00 
Rudra  & Co 
43 
65 
Alexander  Wardrop 
32 
40 
Tea  shipped  to  India 
80 
50 
KroDing  and  Schrader 
shipment... 
1,589 
00 
H.  B,  Millar  suspenee 
account 
306 
77 
Tea  Fund  Shipment  ac- 
count 
1,551 
15 
R.  c. 
862  00 
1,118  60 
1,143  09 
3,633  47 
V.  By  Cash 
New  O B.  C.  Colombo 
(Ceylon  Tea  Kiosk  ac- 
count) 
Do  do  (Company’s 
account) 
Bank  of  Madras 
Petty  Cash  (Manager  Te 
Kiosk) 
By  Balance 
8,041  41 
235  78 
6,120  19 
1,457  06 
228  38 
4,480  36 
E19.278  93 
We  certify  that  to  the  best  of  cur  belief  this  balance 
sheet  contains  a true  aud  correct  statement  of  the 
Capital  and  Liabilities  and  of  the  Property  and  Assets 
of  Ihe  Company. 
(Signed)  Harry  Whitham,  J.  H.  Benton,  J.  Munton, 
W.  D,  Gibbon,  Directors. 
The  Ceylon  Tea  Company,  Ltd.,  under  the  Patronage 
of  the  Planters’  Association  of  Ceylon.  State- 
ment of  Profit  and  Loss  made  up,  30th  June  1892. 
1892 
June  30— To  Preliminary  Expenses  and  Printing, 
Stampes,  Postages,  &e, . . 
,,  Stationary,  Office  forms,  Tea  Kiosk 
account 
„ Advertising  Newspapers  and  Tea 
Kiosk  account 
„ Manager,  Tea  Kiosk,  salary  and  petty 
charges  account 
„ Servants’  wages  TeaKiosk  account. . 
„ Fire  Insurance  Tea  Kiosk 
„ Rent  account  Tea  Kiosk 
„ Gas  account  Tea  Kiosk  . . 
,,  Opening  ceremony  of  the  Tea  Kiosk 
account 
,,  Loss  on  cigars. . 
„ Loss  on  aerated  waters.. 
„ Charges  being  head  office,  Kandy 
rent  Agent  and  Secretary,  &e.  .. 
E.  c. 
2,033  17 
560  47 
362  G4 
1,673  56 
1,367  03 
37  75 
300  00 
259  00 
49  00 
1 40 
141  60 
1,046  11 
E7.832  33 
E.  & O.  E.  Kandy,  25tli  July  1892.  A.  Philip,  Secretary. 
(Signed)  John  Guthrie,  Auditor. 
1892. 
June  30th— By  Profit  on  tea  sold  .. 
„ Rent  of  stalls  at  the  Kiosk 
„ Profit  on  sale  of  Refreshments 
Tea  in  the  cup,  Ices  &c. 
,,  Exchange 
. ,,  Interest. . 
,,  Discountl 
„ Commission 
„ Transfer  free  . . 
„ Balance 
K c. 
. 1,232  44 
. 308  00 
. 1,521  07 
51  79 
121  54 
8 49 
107  14 
I 50 
. 4,480  36 
E7.832  33 
(Signed)  J.  Munton,  Harry  Whitham,  J.  H.  Kenton,  W 
D.  Gibbon,  Directors. 
The  shareholders  having  discussed  various  points 
in  connection  with  the  operations  of  the  Company, 
23 
