iio 
THE TEOPICAL AGRICULTURIST. 
[Aug, 1, ]900. 
It is proposed : — 
To pay a final Dividenfl of 
5 per cent, on the Oruinriry 
Sha.res, making 7i per cent, 
for the year, which will re- 
quire less Tax 
To transfer toBesavve (iu- 
creasing this account to 
^3,000) 
Aud to carry forvvard to 
next year the balance of 
The Director retiring on 
4,833 6 8 
1,500 0 0 
952 10 5 
~-£15,f)69 
this nccfision is 
1 9 
Alfred Tabor wlio being eligible ofters himself for 
re-election. 
Mr. John Snutli the Aiidiiov also retires and 
offeis himself for re election. 
Robertson, Bois & Co,, Agents & Secretaries. 
SCHEDULE OF THE COMPANY'S ESTATES. 
o sr 
fl a 
Estate. 
Kirlcoswald 
Bridwell 
Elbedde 
Bogawana 
Total 
756 — 
3g2 . , 
f)05 IPO 
338 4 
2,081 104 
22 »87 
36 35 
— 27 
26 44 
84 193 
^ JS lis 
Total. 
12 — 
5 15 
15 — 
6 
38 
877 
473 
— 747 
18 430 
33 2,533 acres 
*About 13 acres felled and prepared for planting with 
Tea. 
CEYLON ESTATES INVESTMENT 
ASSOCIATION, LIMITED. 
ANNUAL REPORT. 
The I irectois beg to snbniit tlse Accounts for 
the year endir.g S'lst March 1900. Tlie crop 
harvested amounted to 296,673 lb or 59,.521 lb in 
excess of the previous year. The average pries 
obtained A'as, however, about Jd per lb lovi'er. 
The Balance at} tlic credit of Profit and Lo;-s 
Account, including £207 15s Ud brought, forward 
from last year is £1,879 10 8 
which the Directors propose should 
be applied in payment of a Dividend 
at the rate of 5 per annum, free of 
Income Tax, 1 ,550 0 0 
Und that the balance of 
;329 10 8 
be carried forward to next year. 
Tlie Directors who retire at this time in con- 
formity with is'ie Articles of Association are Mr. 
Robert King and Kev. Peter Grant, D.D. They 
are eligible and olfer tliemselves for re-election, 
and the Directors recommend the election of Mr. 
Gavin Whitelaw as Director. The Auditors, 
Mes3r,s. Moores, Carson & Watson, C.A., also 
retire, hut are eligible to be re-appointed. 
Robert Kixg, Cliairman ; Brown, Flemfng 
and Murray, Secretarieis. 
DUMONT COFFEE COMPANY, LIMITED. 
ANNUAL KEPORT. 
Kepoit to be prei^ented at the Fourth Annual 
General meeting of the Dnmont Coffee Company, 
Limited, to be held .at Winchester House, Old 
Broad Street, London, K.C, on Friday, the 22nd 
(Jay of June, 1000, at 12 noon. 
Tiic Directors submit the General I5alanc8 Sheet 
and Profit and Loss Aeounts fyr the year ending 
31st Deceuilier, 1899. The profit for the year 
amour. i:ed to the sum of £41,761 4s 5d ; carried 
forward from 1898, £2 325 83 3d =£44,086 12s 8d. 
Interest at Silver cent per annum has been paid 
on the !)cwc:!t;ires amounting to £21,989 Os Od ; 
interim dividend on tlie Preference Shares paid 
in July, ].8fl8 (to n^thfiv with income tax th reon), 
brought ioru;ird in the balance sheet la-t year 
£15,000 OOd =£:;;6,989 Os Od ; leaving a balance 
propo.^ed to lie canied forward of £7,097 12s 8d. 
The coU'ee crop amounted to 93,3:.'l cwt., against 
41,476cwt, fur the previous year. Of this, 31,687cwt. 
were smd in ;iiii',n, and the remainder in Santos 
and New York. Tiie gross average pr've realised 
for all the GuHiO w.ts efjnivalent to 29s 4Ad, hmded 
in Jjondon, taking the excliange at' 7-Vl i)er 
milreis, wliicli is the rate (i.xed by the ami tnrs for 
the year's accounts, During tlio greater portion of 
the selling season, the coiFee ni:u-ket was at a 
lower level than ever recorded during the last 
half-centnry, and for this reason, the average 
price oiiUiined for the Company's crop was un- 
fortnuiit'dy extremely low. The spot price for 
go.id av"! 'gp SantoT coflee for the five months, 
June to Oct')ber, 1809, was 26s lOd per cwt., the 
rise in the ooliee market n a taking i)lace until the 
end of 1899, .and the lieginning of lO'iO, by which 
time the greater portion of the Company s crop 
had been s dd ; tlie present ijrice is about 
38< 6.1 per cwt. As the Company's pulped 
coffee formed the greater portion of ' the earlier 
part of the crop, it obtained a lower average 
than tl'.e unpulpad coffee, which did not come 
forward for sale until the latter pan of the season. 
The Directors have satisfaction in recording that 
the large crop of 9.'], 301 cwt. v.-as well harvested in 
good time, which was due to the now completed 
r.iil way system over the property, and to a well 
organiseil laiiour fiu'CL' under European manage- 
ment. Tlie Shareholders will be glad to know 
that "Dumont" coifee has estaljlished a good 
name in European markets on account of its supe- 
rior flavour as compared witli Santos coffee 
generally, and now commands abetter price than 
other Biazilian coifees on the London market. 
This the Directors consider attributable to the 
complete ,'^ystem of drying groun<ls and strong 
shed'' with which the properties have been equip- 
pe 1, as well as to the careful xvork of the staff. 
Mr. G- A Talbot visited the property in September 
last, in accordance with the desire of the Share- 
holders as expressed at the last annual general 
meeting. He was tiien able to go carelully into all 
details of exrienditure with the Company's manager 
and staff, with the result that the Directors have 
been able to effect economies in working. The 
manager reports favourably on the condition of 
th.e coff.je trees, both old and young, and estimates 
the current crop at 75,000 cwt., which at present 
prices would yield a considerably increased profit 
as compared with the year under review. The 
weather recently has been .<^nraewhat unfavourable, 
but cabling on the 3!sc May la> t, the manager 
reports :—" I have hope thnt ' Damont ' estimate 
may probably be obtained." There are now 10,918 
acres in bearing, and 2,343 acres of young coffee, 
making a tola! of 13,261 acres jilanted. Major F 
B McCrea and Mr. C A Carli.sle have, since the 
last meeting, cea'^ed to be Directors of the Com- 
pany, and iUr. Stratten Boulnois has been ap- 
))ointed to a seat on the board. Mr. H K Ruther- 
ford and Mr. C Talbot are the retiring Directors, 
and, being eligible, offer theni.selves for re-elec liofl 
