412 
THE TROPICAL AGRICULTURIST. 
[Dkc. 1 1900. 
wards of 40,000 lb more than was harvested during 
1898-99. The average co.st of production was es- 
timated at 26 cenfc.9 per lb, but a considerable 
savinfT on this ligure was effected, the actual averaf^e 
cost being 24^ cents, bho lowest yet attained by 
♦he company. The board think these fiL;ures re- 
flect great credit on the management of the com- 
pany's estates ; the profit, however, is less than 
last year, owing to the lower piices realised for 
the eomjiany's teas, the fall in price being Jd, the 
produce of Ceylon estates of a medium and low 
elevation having generally fallen fully 1 a lb. 
The net profit amounts to £4, .586 6s 5d, and after 
paying directors' and auditors' fees, &c., income 
tax, and commission to superintendents, there 
remains a balance at prolit and loss account of 
£3,961 8s, ta which has to be added £121 lis lid 
brought forward from last year. The board have 
paid half-yearly, as usual, the dividends on the 
preference shares, amounting to £1,000, and an 
interim dividend of 2^ per cent on the ordinary 
shares, wbich absorbed a further £1,125 ; they 
have set aside £250 for wear and tear ot build- 
ings and machinery (making a total of £1,000 
on that account), and they now recommend the 
payment of a final dividend of 3i per cent on the 
ordinary shares (making 6 per cent for the year), 
for which £1,575 will be required, leaving £132 
19s lid to be carried forward to next year. A 
sum of i^228 16s 5d w.as expended on the Ayr 
Estate factory and machinery, and on the upkeep 
of the 33 acres of young tea which is not yet 
in bearing, and this sum has been charged to 
capital account. The sum of £60 17s 8d has been 
added to coast advances during the year, and the 
whole of the advances outstanding have been cer- 
tified by the superintendents to be good and re- 
coverable. The average yield of tea in full bear- 
ing was 6501b. per acre, 'and the gross average 
price realised in London was 7'03d. per lb., while 
the average rate of exchange was Is. 4|d. per 
rupee. The estimates for the current season point 
to a tea crop of 521,000 lb., to cost 24.62 cents 
per lb.— H. and C. Mail, Oct. 19, 
KOEALE TEA ESTATES. ' 
ANNUAL EEPORT. 
Report of the Directors, to be submitted at the 
J'ourth Annual Ordinary General Meeting of Share- 
holders, to be held at the Office of the Company, on 
Thursday, 25th October, 1900, at 3 p.m. 
The Directors now submit the^Eeport and Accounts 
for the year ending 30th June, 1900 which have been 
duly audited. 
The net amount at Credit of 
profit and Loss Account after 
providing the General Ex- £ s d 
penses is . . . . 1,564 2 2 
To which should be added the 
balance brought forward from 
30th June, 1899 ... ... 169 6 11 £ s d 
1,733 9 1 
To dispose ot which, it is pro- 
posed to pay a dividend of 3 per 
cent, on the perference Shares 
wbich will absorb ... 1,436 11 0 
Directors' fees ... 150 0 0 
Expenses of Formation writ- 
ten off ... ... 100 0 0 
And to carry forward a bal- 
ance of . . ... 46 18 1 
cess of last year's yield the lower range of prices has 
reduced the earning power of the Company, andtbey 
are thus prevented from declariugas good a dividcad 
as last year. 
In accordance with the Art'cles of Association Mr 
H W liuETT retires from th2 Board, and being eligib'e 
olfers himfelt for re-election. 
Duving the year Mr W S Bsnnett, the Chairman of 
the Company, visited Ceylon and reported favourably 
upon the effective and economical management of 
the Estates and their good order and condition, and 
despite the poor results of the past year, the Directors 
desire to record their appreciation of the services of 
the Agents and Managers in Ceylon, whose (-fioita they 
trust will during the current year be attended with a 
result more satisfactory to the Sharehold'ir-^. 
ACREAGE OP ESTATES. 
TEA. 
■ 0-1 ^ . . . ^ . ■ 
. S S S S S I 53 § I 1 I 
5 » OH g;^; ^ H 
Riverside 290 — — — 88 12 — 390 
Glenloch 175i 3 — — 82 55§ — 316 
Karagastalawa 120 58 29 32 81 58 14 392 
Wewesse 348 101 106 4.5 151 3 50 804 
933t 162 135 77 402 128| 64 1902 
Crop. Expenditure on 
Production. 
1899-1930 1898-9 1899-1900 
Exchange 1/1 29 64 
lb lb £. s. d. 
Riverside ... 154,620 151,675 2,329 3 6 
Glenloch .. 60,427 60,000 1,265 18 II 
Karagastalawa 
including 
bought leaf.. 82,468 67.965 1,799 16 10 
Wewesse .. 95,000 86,547 2,129 3 4 
Cost of Pro- Av. Net Price Return 
duction. in London. per 
1899-00 1898-9 1899-00 1898-9 Acre, 
d. d. Q. d. lb. 
Riverside . . 3f S| 5-28 5-82 533 
Glenloch ..5 5 ^ ,344 
Karagastalawa 
including 
bought leaf . . 5J 
Wewesse . . 51 
5i> 
54 
5-79 
( 
6-77 j ' 
' 416 
6-36 273 
£1,783 9 1 
In presenting their Fourth Annual Report the 
Directors regret that though the estimates of crop 
from all the Estates have been fully realised, and the 
^uautitv of tea aecured lias been considerably iu ex- 
THE aOOMERA (CEYLON) TEA ESTATES 
COMPANY, LTD. 
directors' report. 
The Directors beg to submit herewith their Sixth 
Annual Report and Balance Sheet, for the year ending 
30th June, 1900. The accounts, after paying deben- 
ture interest and London expenses, show a loss of 
£173 6s 63., which am.ouut, when deducted from 
i;203 2s 8d., the balance standing to the credit of Profit 
and Loss from last year, leaves a credit balance of 
£29 163 2d. to be carried forward. The Directors very 
much regret the poor result of the year's working due 
entirely to the low prices ruling for the class of tea 
which the Company's Estates produce. The total 
crop amounted to 269,104 lb., realising a net average 
of 5 23d., against 234,817 lb. realising a net average 
of 6'29d., last year. The Estates of the Company are 
reported to be iu thoroughly good order. A few 
further improvements to machinery and factory have 
been made, and charged to current expenditure during 
the past year. The Directors have been impressed by 
the necessity of largely increasing the output ot the 
Estates by higher cultivation, and have consulted the 
leading authority on manuring in Ceylon, Mr. Joseph 
Eraser, who has embodied his views in a vglugiiww^ 
