672 
THE TROPICAL 
AGRICULTURIST. 
[April 1, 1901. 
THE AGRA TEA COMPANY OF 
CEYLON LTD. 
THE EEPOET. 
The following is tlie report : — 
The Directors have the pleasure of submittinE; their 
report on ths transactions of the Company for the 
year ending 31st December, 1900. 
The acreage of the Company's property is as 
under : — 
Tea in full bearing . . 295 acres, 
Do in partial bearing. . 27 do 
Do not in bearing . . 8 do 
330 acres. 
Forest .. .. 27 do 
Grass, waste land, iic. . . 10 do 
Total area . . 367 acres. 
The estimated crop for 1900 was 180,000 lb. and 
the out-turn 203,860 lb. or a surplus of 23,860 lb. 
This crop realized R80,17S-64, equivalent to 39'33 
cents per lb. as against 41"79 cents in 1899. The 
expenditure, as shown in the accompanying accounts, 
was B57,070 60, or about 28 cents per lb. as against 
26'89 cants in 1899. 
After deduction of R4,15B'58 for depreciation on 
buildings and machinery, the profit on working ac- 
count for the year amounts to R18,363'96 representing 
rather more than 4i per cent on the value of the 
property as shown in the Balance Sheet. 
The net profat for the year amounts to R9,637'76, 
to which has to be added the sum of R6, 337 12 
brought forward from 1899. Au interim dividend of 
2 per cent absorbing Ei5,.590 has been paid, and the 
balance now at the credit of the Profit and Loss 
Account is R10,384'88. In view of the fact that 
funds will shortly be required for the purpose of 
paying off part of the Standard Life Assurance 
Company's mortgage, the Directors do not think it 
advisable to pay anv further dividend now, but they 
propose to transfer R9,888 97 to the General Reserve 
Account, thus bringing the total of that account up 
to R24,000 ; and to carry the balance of R495 91 forward 
to next year's accounts. 
Since the issue of last year's report, the vendora 
of the Kalkudah estate have taken back that pro- 
perty for the price paid by the Company, and have 
surrendered shares to the value of R60,000, and re- 
funded in cash the amount expended upon the pro- 
perty by the Company. Out of the cash so received 
the loan of R15,000 over the properties of the Com- 
pany has been paid off. 
The estimated crop for 1901 is 200,000 lb. tea, to be 
produced at 28 cents per lb., which includes a fair 
allowance for manuring. 
The condition of the Sacharawatte estate coutinnes 
to be satisfactory in all respects. 
In terms of the Articles of Association, Mr. Joseph 
Fraser retires form the Board of Directors, but is 
eligible for re-election. 
The appointment of an Auditor will rest with the 
meeting. 
PLUMBAGO MINING COMPANY. 
THE REPORT. 
The Directors have pleasure in presenting to the 
Shareholders their Report and Accounts for Season 
ended 31st December, 1900, which represents a 
period of about nine months from the time the Com- 
pany was incorporated. The Accounts are brought 
out up to this date so that the Ist January may 
commence the financial year of the Company. 
The new Shaft started on the 26th March, and 
now called the "Kingsbury" shaft had been sunk 
to a depth of 78 feet, and the Cornish Pump im- 
ported from England had been erected. 
Considerable trouble was experienced in getting 
the Machinery to the Mine and putting it in working 
order, but things are now working satisfactorily. 
It will be noticed that the Accounts shew Cash in 
hand to be only R8,924-92, and it will probably be 
necessary to raise more Capital for the further de- 
velopment of the Mine ; this matter will be discussed 
at the Meeting. 
As Captain Tregay is going down on inspection 
in a few days' time and a full Report will be ob- 
tained from him for presentation to the Meeting 
further details are unnecessary. 
In terms of the Articles of Association all tho 
Directors retire, but being eligible offer themselves 
for re-election. 
The Auditor, Mr. J D Forbes, also offers his 
services for 1901. 
CAPTAIN TREGAY'S EEror.T. 
Gentlemen, -In binding you this my report for 
your General Meeting on the 2nd March nest. I cannot 
help expressing a wish that the meeting had been 
postponed for a couple of months or so, to allow of 
more extensive explorations being made from the 
bottom of the Kingsbury shaft which would, doubtless, 
have enabled me to place before you more definite 
information as to your prospects than I am in a 
position to do at present. As you are aware the mine 
was floated largely on the strength of the two veins 
intercepted at the 46 feet level of the old shaft, 
these being the only veins of plumbago I was able to 
Bee at the time of my first visit to the mine. 
These veins have not yet been tapped at the 
Kingsbury shaft, consequently I am unable to give 
you any further information upon your prospects 
there than I gave you in my first report on the 
mine. 
In sinking the Kingsbury shaft several small veins 
of plumbago were passed through and numerous very 
promising indications were met with, which goes to 
show that the district is highly mineralized, but the 
fact remains that the two veins seen in the 46 feet 
level of the old shaft, have not been touched upon 
yet at a deeper level, and therefore we cannot say 
if these veins improve in depth or not. This I need 
hardly say is a most important question to settle. 
Your explorations have now reached a very interest- 
ing stage, but, nothing definite has actually been 
arrived at yet. 
A very short time now will bring you into touch 
with the two veins of the 46 feet level, and it is 
towards this end all our operations hitherto have been 
directed, hence the wish I expressed at the beginning 
of this report, that your meeting had been postponed. 
For the purpose of this report I visited the Iddagoda 
Mine on the 16th instant, and I am very pleased to 
say that I found everything going smoothly. Pump and 
steam-power working well and keeping the water down 
with ease. Of the difficulties encountered in getting the 
boiler to the mine and starting the machinery, &c., &o. 
you are all doubtless aware, and they need no't be' 
repeated here. All I need say is they were many 
and troublesome, and caused an expenditure in time and 
money that had not been anticipated or estimated 
for. At the time of my visit the Kingsbury shaft 
was down 84 feet from surface and at this level a 
cross-cut had been put out east to intersect some 
veins of ore passed through in the shaft. At 9 feet 
from the shaft these veins were intercepted and 
driven upon in both directions, north 20 feet, and 
south 17 feet. There are three veins of plurnbago 
here varying in width from 1 inch to 3 inches 
wide, on an average, with occasional spots up to 
4 or 5 inches wide. These veins are in close proxi- 
mity and in the northern drive they appear to the 
converging towards each other, and, should it by 
come together will, in all probability, develope one 
a highly productive vein of ore. More cannot be 
said on this point at the present stage of the ex- 
ploration. 
In the bottom of the Kingsbury shaft directly 
where sinking was temporarily discontinued, a very 
promising looking vein of plumbago was met with. 
This vein is from 3 to 4 inches wide of good 
quality ore QiXidf I may say here, tha^t all the veins 
