Nov, 1, 1900.] 
THE TROPICAL AGRICULTURIST. 
355 
which absorbed Ra,500, aud the diteotors now recom- 
mend the D^iymeut of a final dividend of i percent, 
making 6 per cent for the year, aud that the balance of 
E'2,7o6-lt; be carried forward to this ssason's working. 
The estimated crops for the current season are 
155,000 lb. tea, 25 bnsihels coffee aud 1, '21)0 lb. -carda- 
moms, oi^ an expend tuce on the estate of E52,2'35'3'j. 
On the resignation of Mr. G H Alston the remain- 
ing directors appointed the Hon. W H Figg to the 
vacant seat on the boai'd. 
The appointment of a director and aa auditor will 
rest v/ith the meeting. 
THE NEW DUMBULA COMPANY LTD, 
EEPOET, SEASON 1899-1900. 
The Directors have the pleasure of submitting 
the accounts for the financial year ending June 
30th, 1900. 
The season generally has been a favour-able 
one for flashing, the yield has exceeded the 
estimated quantity, and is considerably in excess 
of that of the previous year. The fields affected 
by the frost last season have recovered. 
'The net average yield per acre was 539 lb., 
compared with 456 lb. last season, and the net 
average price S'TBd as arainst 8'28d in 1898-99. 
The acreage of the Estate is— 
Tea in bearing 
Young Tea 
Timber Trees 
Grass Eavines 
Buildings 
Forest and Swamp 
Total ... 
2,200 acres, 
150 
108 
45 
22 
COO 
3,125 acres. 
The Estat3 is reported onfas being in first class 
order, and the Tea very vigorous ; the Buildings 
and Machinei\y are kept in excellent condition ; 
an extension of the Factory has been sanctioned, 
so as to render the treatment of leaf as satis- 
factory as possible, a portion of the cost of this 
exten.sion is provided for in the accompanying- 
accounts. 
The accounts now presented show a surplus 
of £23,222 6s. 4d., after writing off the amount 
of Tea extension, viz., £309 12s. 6d., and the 
amount of the Factory and Machinery account, 
viis., £206 4s. 8d., and providing £1,000 towards 
extension of Factory. The Directors propose a 
dividend of 20 per cent, per annum for the year 
ended June 30th last, 5 per cent, of which was 
paid in March, together with a bonus of 3 per 
cent., and the placing of £3.000 to the Reserve 
Fund. 
The Board wish to express their satisfaction 
with the management of the Estate -w^hile under 
the charge of Mr. S. Payne Gallwey. Mr. Dick 
Lauder resumed charge on Janu.ary 1st, and the 
Directors feel that the continued good working 
of the Company's property by the Resident 
Manager and Staff in Ceylon must commend 
itself to the Shareholders. By Oi-der of ilu 
Board. A, Ceabbe, Secretary. 
THE DUCKWARl (CEYLON) TEA. 
PLANTATION COMI'ANY, LTD. 
REPORT BY THK DIRECTORS TO THE TENTH 
ORDINARY GENERAL MEETING OF THE COY. 
The Directors have pleasure in submitting the 
Accoiinla for the year ending June 30th, laOO. 
Profit and Loss account, after writing off 10 per cent, 
depre iation on value of machinery and buildings, 
shewg a credit balance of iil.SlS iOs 2d for the 
year to which has to be added £1,514 8s 4d, the 
balance brjught forward from last season, makiog 
a total of- ... .. .. £2,827 18 6 
which the Directors propose should be 
applied as follows : — 
(1) In payment o£ seven per 
cent. Dividend of Preference 
Shares .. £810 0 0 
(■2) In payment of seven 
per cent Dividend on 
Ordinary Shares ... 560 0 0 
(3) In increasing Reserve 
Fund by , . 500 0 0 
- — 1,900 0 0 
£927 18 G. 
Leaving 
to be carried forward to next year. 
The returns of crop have been 321,020 lb. Tea 
and 8,779 lb. Cardamoms, against 277,408 lb. Tea 
and 10,012 lb. Cardamoms last season. 
The estimates for the coming year are 300,000 lb 
Tea and 12,000 lb. Cardamoms. 
The increased crops coming off the Company's 
estates have necessitated the purchase of more 
machinery. The outlay on this, amonnting to £112 
16s 5d, has been debited to capital account. 
Mr. Troutbeck retires from the Direction by rota- 
tion, and being eligible, offers himself for re- 
election. 
The Auditors, Messrs. Brown, Fleming and 
Murray, also retire, and offer themselves for re 
ppointment. 
P. G. SpENCEj'Chairman, and R. Cross Aitken, 
Secretary. 
17, Philpot Lane, London, B.C., Oct. 19'>0. 
THE HORNSEY TEA ESTATES COMPANY, 
LIMITED. 
THE FOURTH ANNUAL REPORT, 1899-1900, 
The Directors beg to submit to the shareholders 
the report and audited Accounts for the year cloainff 
the 30th of June last. ^ 
The crop has weighed out 191,814 lb., against 
last year 172,139 1b., giving an increase of 19,7U5 lb. 
of made tea. 
The Directors regret that although the crop is larger 
the profit earned is somewhat smaller than fast 
year. This result, however, is entirely due to a 
fall in prices, which has affected the whole in- 
dustry. The teas have been carefully made, and 
the quality lias been quite as good as in former 
years. The markets, however, have been rather 
over-supplied with tea, owing to a season of very 
favourable weather in Ceylon, resulting in large crona 
aud lower prices. 
The cost of production, with manufacture, has 
been 29 30 cents, against last year 31'12 cents or 
in sterling, 4jd per lb. Colombo, against 5d per lb ' 
The sales in London have totalled 28,4351b 'of 
tea, selling at an average of 9-87d per lb„ and the 
balance of the crop has been sold in Colombo and 
realised an average of 38 90 cents, equivalent to a 
London price of 7id per lb., against last year 45-40 
cents, or 8|d per lb. The average sale price for 
I'le whole crop has been equivalent to a London 
p. ice of 7-94d per lb., or nearly 83 perlb,, against 
last year 8 72d per lb. ' 
During the 12 months the Coast Advance Account 
has been reduced by £97 IBs 8d, leaving only £81 33 Sd 
outstanding. 
The audited accounts show that, after paying all 
fixed charges and Preference Dividend for the 12 
months, there is a balance at credit of Profit and 
^2^% °^ ^^^^ '^'^^ Directors propose to write 
off £224 6s from preliminary expenses account, and 
to pay a dividend of li par cent on the ordinary 
shares, absorbing £180, and leaving a small balance 
to carry forward. The Directors, in again writing 
off so large a proportion of profit to preliminary 
expenses account, are acting on the determination 
to cloae this account diiriug five years, and next 
