March  i,  i893-1  THE  TROPICAL  AGRICULTURIST.  605 
THE  AGRA  OUVAH  ESTATES  COMPANY, 
LIMITED. 
(FROM  REPORT  OF  DIRECTORS.) 
The  Directors  have  pleasure  in  enbmitting  to  the 
Shareholders  the  Accounts  of  she  Company  to|the31st 
Deoember  1892,  which  shew,  sfter  providing  for  all 
expenses  incidental  to  the  formation  of  Ihe  Company 
and  payment  of  interest  on  purchase  money  to  the 
vendor  (amounting  to  R6,162'58,)  a balance  of  profit 
of  R53092.  This  sum  in  terms  of  the  Prospectus  of  the 
Company,  has  been  applied  towards  reduction  of  the 
0 st  of  the  estates. 
The  estimated  outlay  on  Working  Aocount  in  1893, 
which  includes  unusually  heavy  expenditure  on  repairs, 
tools  and  drains,  is  R67.419,  against  138,000  lb.  Tea, 
1 800  bushels  coffee  and  manufacturing  &c.  receipts 
estimated  at  R15.240. 
With  average  weather  the  above  estimate  of  tea 
shonld  be  rrah'zed,  but  it  will  be  understood  that  the 
figures  as  regards  Coffee  must  be  considered  nominal, 
for  at  this  early  period  of  the  year  it  is  impossible 
to  frame  anything  approaching  areliable  estimate.  AH 
things  beiDg  favorable,  a very  muoh  larger  crop  than 
that  estimated  is  possible. 
The  above  mentioned  outlay  is  exclusive  of  the 
amount  required  to  complete  the  Estate  buildings,  in- 
cluding the  Factory  and  its  equipment,  for  whioh  it 
is  expeoted  that  1113,209  will  be  required. 
Agra  Ouvah  Estates  Working  Account  for  three 
Months  to  31st  Dec.  1892, 
Dr.  R 
To  Expenditure  for  three  months 
as  per  Superindent’s  Monthly 
Reports R23, 97371 
To  Less  Expenditure  on 
Permanent  works 
transferred  to  debit 
of  the  Agra  Ouvah 
Estates  viz  1 — * 
On)  Buildings R 763-63 
On  Machinery R9,387  Z4 
R10, 150-87 
R 13,822-84 
To  Balance  transferred  to  the  Credit  of  Pro- 
fit and  iLoss  Account........,,, 7.875-40 
Or. 
By  Net  proceeds  of  19,786  lb.  Tea.  .Rll.SlPdl 
By  Net  proceeds  3347-32nd  Bus.  Parch- 
ment Coffee 5,75.3-24 
By  Net  proceeds  7 467  lb.  Cinchona  Bark  1,016'26 
By  Receipts  for  manufacturing  out- 
side leaf 2,948-88 
By  Rents  and  sundry  receipts  on  Estates  338-25 
R21, 698-24 
21,698-24 
R21-698-31 
THE  WE-OYA  TEA  COMPANY,  LIMITED. 
The  following  is  the  Report  of  the  Directors 
whioh  was  presented  to  the  annual  ordinary  general 
meeting  of  the  shareholders  this  afternoon  : — 
The  Directors  have  pleasure  in  submitting  to  the 
Shareholders  the  Aoconnts  of  the  Company  for  the  past 
year. 
The  Tea  crop  was  97,557  lbs  , being  12,557  lbs.  in 
excess  of  the  estimate,  and  realized  R41, 031-37  or  an 
average  net  price  of  42  cents  per  lb.,  against  an  ex- 
penditure of  R2-2,283'28  equal  to  23  oents  per  lb. 
After  providing  for  depreciation  of  buildings  and 
machinery,  the  net  Profit  for  the  year  including  the 
bslance  from  1891  aod  premium  on  issue  of  new  shares, 
amounts  to  R21,003"21  ont  of  whioh  the  Directors  re- 
oommend  that  Dividends  be  declared  and  made  payable 
on  the  18th  February  of  20  per  cent  on  old  shares,  ab- 
sorbing 1115,000,  and  5 per  cent  on  the  new  issue  of 
Shares  absorbing  R1.000.  They  propose  that  the 
profit  of  R5.000  derived  from  the  Issue  of  new  shares  be 
tjftneferred  to  Depreciation  account,  to  provide  for 
Factory  extensions  and  that  the  small  balance  remain* 
jog  be  oarriei  forward  to  the  next  account. 
During  the  year  the  Directors  effected  the  purchase 
from  the  Yutiyantota  Tea  Company  Limited  of  their 
Abamalla  property,  consisting  of  acres  210  3 20  (48 
aores  of  which  had  been  planted  in  Tea)  for  the  sum 
of  R12, 323-81  and  they  purchased  at  upset  prioe  from 
Governmoot  acres  15  1 25  of  Forest  land.  Both 
of  these  lan  Is  cdjoin  We-'Jya  Estate  and  form  very 
valuable  additions  to  the  Company’s  property.  The 
acreage  now  owned  by  the  Company  consists  of — 
219  acres  planted  in  Tea  1888-1890 
92  do  do  do  1892 
5 do  Grass 
307  do  Forest 
Total.. 623  acres 
The  young  clearings  promise  well  and  arrange- 
ments have  been  made  to  plant  76  acres  more  land 
with  tea  this  year,  thus  bringing  up  the  cultivated 
acreage  to  nearly  400  acres. 
To  meet  the  cost  of  the  purchases  and  clearings 
above  referred  to  and  to  provide  for  any  further 
extensions  which  may  be  decided  upon,  the  nominal 
Capital  of  the  Company  has  been  increased  to 
R105,000  by  the  creation  of  300  new  shares  of  R100 
each,  200  of  which  were  issued  in  September  last 
at  a permium  of  R25  per  share. 
The  Crop  Expenditure  in  1893  is  estimated  at 
It 24, 600  on  120,000  lb,  of  Tea  and  a further  sum  of 
R 17,506  has  been  allowed  for  in  the  estimate  to 
cover  expenditure  on  clearings,  new  permanent  lines, 
extension  of  Cart  Road  and  other  items  on  Capital 
Account. 
In  terms  of  the  Articles  of  the  Association,  Mr. 
Eric  S.  Anderson  now  retires  from  the  office  of 
Director  but,  being  eligible,  offers  himself  for  re- 
election. 
The  appointment  of  an  Audftor  for  the  current 
season  will  rest  with  the  meeting. 
To  Expenditure  for 
year  as  per  Super-  R 
intendent’s  Reports,..  31,490  99 
To  visiting  fee  for  R 
year  ...  400-00 
To  Less  Expenditure 
on  permanent  works 
transferred  to  debit 
of  We-Oya  estate 
viz  : — 
On  Buildings  ..  l,233'9l 
On  Machinery  ...  566-01 
On  Clearings  ...  7,80779 
On  amount  transferred  to 
Depreciation  account 
On  account  Buildings 
On  acoouut  Machinery 
On  Balance  transferred  to 
credit  of  Profit  and  Loss 
acoount 
By  Proceeds  of  97,557  lb  tea 
THE  ACME  TEA  CHEST. 
This  improved  tea  chest  whioh  has  been  the 
subjeot  of  several  notices  in  onr  columns— a 
specimen  haviDg  been  left  on  show  in  our  offioe — 
is  to  be  speoially  pushed  in  Ceylon.  We  learn 
that  Mr.  Andrew  Poison  13  coming  out  per  s.s. 
“Oroya”  (due  on  Monday)  as  Agent  for  the 
Acme  Tea  Ohest  Syndicate,  Ld. ; and  in  advance  we 
attract  attention  to  the  advertisement  whioh  appears 
in  our  columns  today.  We  have  no  doubt  that 
Mr.  Poison  will  do  justice  to  his  Syndicate  and 
with  a good  article,  secure  a big  sale  for  the 
Aom6  Tea  Cheat  in  Ceylon, 
R 
31,890-99 
9,607-71 
— 22,283-28 
609-99 
1,478-02 
— 2,08801 
16,660-08 
41,031-37 
