170 
THE TROPICAL 
AGRICULTURIST. 
[Sept. 1. 1900. 
depreciation, and 20 per cent had Ijeen placed 
to the reserve fund. Tlie last season compared 
very favorably with the previous season's. Tlie 
cost of the tea of 
MOCHA ESTATE 
was 28-55 cts. per lb, with manure, excluding 
manure 24 27 cts, as against 24-35 and 27-38 cts 
per lb respectively for the previous year. The 
average sale per lb was 51 -.SI cts. as against 47 "38 
cts. the previous year. The profit per pound was 
22*66 cts. as against 20 cts. the previous year. 
The yield had increased from 345-69 lb per acre 
to 374 lb. On Gientilt estate also the cost of 
tea had been reduced from .'il cts. per lb 
to 27'28 per lb, the exuenditare for manuring 
was also reduced. Average sale price was 
40 29 jier lb. as against 49 95 per lb. the previous 
year, and the profit had been increased from 14 
ent.'-~ to 15-89 cents per lb. The yield hail been 
increased I'roni 346 11>. per acre to 496 per acre. 
On Lanka and Craighill estates the cost of tea 
had also been reduced fiom 28 cents per lb. to 
24 cents per lb. and the average price had been 
increased from 48 cents per lb. to 51 cents. 
The total cost on the estates had been reduced 
from 33*67 cents fo 28 91. The average sale price 
of Gientilt estate tea had reduced the profits, 
but the yield had increased from 319 to 424 lb. 
per acre, which made good the profits. The 
Company was now in possession of 1,046 acres 
in full bearing and 33 acres in partial 
bearing. The capital value of the estates, 
taking off the depreciation written off, &c. 
stoof/ at R373 per acre, equal to about £25 sterling 
pe acre of tea. As a large depreciation had 
been written off the capital account, as well as 
off the cost of tiie machinery, &c., he thought the 
time would come soon when there might be no 
necessity to write off any further depreciation. 
The Chairman visited the estates lately and found 
them ia exceedingly good condition promising 
good results for the tuture. Mr. Dunbar, who 
visited the estates had favorably reported them. 
He hoped by continued good cultivation the suc- 
cess already achieved might be still increased. 
He moved the adoption of the report. 
On a question from Mr. Haslop, regarding the 
debt of K10,000 for tUe purchase of Lanka and 
Craighill e.states, 
Mr. F W Bois replied that in the last year's 
accounts, the debt was R30,000 and it was reduced 
to KIO.OOO which appeared in this year's account, 
but this balance had also been paid now. 
Mr. Haslop seconded the adoption of the report 
and the motion was carried. 
DIVIDEND. 
On the motion of Mr. Haslop, seconded by Mr. 
H G Bois, as attorney of Mr. Henry Bois, a final 
dividend of 10 per cent was declared payable 
forthv.ith. 
DIRECTOR. 
On the motion of Mr. Haslop, seconded by the 
Chairman, the Hon. Mr. Giles F W-jlker, was 
re-elected as a Director. 
, auditor. 
On the motion of Mr. H G Bois, seconded by 
Mr. Haslop, Mr. .J Guthrie was elected auditor 
on the usual fee of K75. 
The meeting tiien concluded with a vote of 
thanks to the Chair. 
HAPUGAHALANDA TEA COMP-VNY, LTD. 
THK REPORT. 
ACREAGE. 
Tea in full bearing 
New clearings 
Jungle &c. 
A R P 
235 0 0 
150 0 0 
369 1 3 
Total Estate .. 751 1 3 
Your Directors beg to submit their annual report 
and accounts for the twelve months encling 30th .June" 
1900, which they trust may be considered satisfactory. 
Tlie quantity of Tea manufactured for the season 
(including estate and bought leaf, but exclusive of that 
manufactured for other estates) wa-i 136,900 lb. 
Estimating tha unsold tea at a safe valuation, the 
net amount realised for this product has been 
Tl44,8i;5-07, equal tD an average of 32'77 cents per lb. 
An interim dividend of five per cent absorbing 
118, .')00 was paid on 31st March last, and after set- 
ting aside R3,293-58 for depreciation on buiUlin^s and 
machinery, the amount available for diitribution 
(including R'2,734-4l brought forward from last account) 
is R10,361'14. This sum the Directors recommend 
being dealt with as follows, viz : — 
In payment of a final dividend of five 
per cent . . . . R8,500 00 
Leaving to be carried to nest account 
a balance of .. .. ,,1,861 14 
R10,361 14 
In terms of the articles of Asaociatiou Mr. Wn>, 
Milne retires from the Board of Directors, but being 
eligible offers himself for re-election. The appoint- 
ment of an Auditor for the current season will rest 
with the meeting. By order of the Directors, 
Lewis Buown & Co., Agents and Secretaries. 
WANARAJAH TEA COMPANY. 
THE REPORT 
of the directors w.ts submitted as follows : — 
DiRECTOEa : — Messrs. Alex. Cantlay (Chairman), 
H Creasy, J W Vanderstraaten and J C Dunbar. 
ACREAGE. 
• •■: ji. Acres. 
Tea in bearing 1028 
1896.. 12 
1898., 20 
Aires. 
1000 in tea 
Timber trees . . . . 20 
Forest ... ... 27 
Grass not available . . 27 
l>ni- Total 
1134 acres. 
The Directors have the pleasure of presenting to 
the shareholders the report, balance sheet, and 
profit and loss account for the year ending 80th 
June, 1900. 
The crop harvested amounted to 447,2.3-5 lb., against 
an estimats of 370,000 lb. The crop for 1899 was 
.336,e92 lb. and the increase in crop is due to the very 
satisfactory results of manuring and to the favor- 
able weather that has been experienced during the 
past season. 310,953 lb, have been sold in London 
at an average of 52 92 cents nett, and it is hoped 
that the balance of the crop will fetch equally 
good rates. 
Manure.— The area completed during season 
amounts to 311 acres, at a cost of R16, 118-63, in- 
cluding application. All expenditure during the past 
season has been debited to crop account. 
The amount at the credit of the profit and loea 
account is R102,906-24, including a balance brought 
forward of R22,621'34. 
