698 
the: TEOPICAL 
AGIRCULTURiST. [April 1. 1901. 
THE TONACOMBE ESTATES COMPANY 
OF CEYLON, LIMITED. 
THE KEPORT. 
The following is tlie report :— 
ACREAGE. 
The acreage of the Company's Estates is as 
follows :— 
acres. 
Tea in bearing ■ • 578 
Tea not in bearing . . 12 
Tea seed bearers . . 3 acres. 
593 
Cardamoms in bearing . . . . 101 
Reserved Forest . . . . 24 
Fuel trees .. .. 20 
Chena and Patana .. .. 1,142 
Total ... 1,880 
The total quantity of Tea secured during the year 
was 225,178 lb. which has been sold at an average of 
88 01 cents per lb. nett as againsti 42*74 cents per lb. 
realised last year. 
The total Cardamom crop was 10,469 lb. which 
realised E170 per lb. nett as against E176 per lb. 
last year. 
The total expenditure on Working Account 
Bmoanted to E65,001-29. 
During the year the permanent improvements on 
Capital Account include the erection of a set of 12 
roomy lines. 
The balance available, after providing for deprecia- 
tion amounts to Es 28,459-05, and the Directors 
propose to pay a dividend for the year at the rate of 
5 per cent, absorbing Rs 14,000 ; to write off the balance 
standing to debit of New Clearings Account Es 5.841 '95 
and Cart Road Rs 1,061-73= Es 20,902 68, and to 
carry^ forward Es 7,555-37 to next account. 
The Directors have pleasure in reporting that the 
Debenture debt has been further reduced by £1,000 
during the year. 
In term3*of the bond no further repaymeuts can be 
insisted on by either party before 30th June, 1902, but 
the Directors are negotiating with a view to repay- 
ment of £1,300 or more on 30th September next on 
terms which they consider favourable to all interested, 
The Coast advances have been still further reduced 
from Es 5,125-98 on Slat December, 1899, to 
Es 2,955-16 on 3lst December, 190O. 
The Crops for 1902 are estimated at 
230,000 lb Tea 
10,000 lb Cardamoms 
Bgainstan expenditure of Es 68,951'93. 
During the year Mr E S Templer and Mr G H 
Alston resigned their seats on the Board, and Mr H 
Cumberbatch and the Hon'ble Mr W H Figg were ap- 
pointed in their places. 
Of the Directors Mr H Cumberbatch retires by 
rotation, but is eligible for re-election. 
The appointment of an Auditor for the current year 
will rest with the meeting. 
THE UDABAGE COMPANY, LTD. 
REPORT :— ACREAGE. 
215 acres in full bearing 
84 „ 4 years old 
499 acres cultivated 
Ml ,, available reserve 
1,140 acres more or less 
The Directors beg to submit to the Shareholders the 
accounts for the year ending 3l8t December, 1900. 
The Crops secured amounted to 157,295 lbs. made 
Tea against an estimate of 165,000 lbs., and realized 
it39,769 04, or w average of 25-39 cents per lb. against 
an expenditure (exclusive of cost of works on capital 
account) of R40,375 16, or an average cost of 25-67 
cents per lb. 
The disastrous condition of thp. Tea Market in the 
latter part of the year for all low-country production, 
conpled with the financial embarrssments of the Com- 
pany, caused by the exhaustion ot all available work- 
ing Capital, has resulted in a serioua loss in the 
season under review, and the Shareholders will be 
called upon to consider proposals (1) for liquidating 
the debts of the Company, or (2) a sale of the pro- 
perty, subject to the existing first mortgage debentures 
amounting to RIOO.OOO, 
The Directors issue with this Report a scheme ad- 
vanced by the Agents and Secretaries, for reconstruc- 
tion of the Company, which will be considered at an 
Extraordinary General Meeting held immediately 
after the Annual General Meeting called as above, 
and all Shareholders are earnestly requested to be 
present to consider the proposal and decide on the 
course to be adopted. 
The Estimate for the current season is, including 
7,500 lbs. of Tea from brought leaf, 232,500 lbs. made 
Tea. 
To complete the extensions deemed necessary in 
the Factory and supply the required equipment in 
Machinery for the manufacture of Green Tea, a fur- 
ther expenditure in Capital Account this season will 
be necessary, but the Directors consider that ample 
provision will then have been made for the manu- 
facture of 300,000-350,000 lbs. Tea which may be re- 
garded as a maximum Crop fiom the present cul- 
tivated area. 
Green Teas. — The necessary machinery has been 
supplied to the Estate for the manufacture oi Green 
Teas, and if the state of the market warrants their 
manufacture in preference to Black Teas, they can 
be produced at a small additional cost. The facili- 
ties provided for the manipulation of Green Tea will, 
the Superintendent estimates, be sufficient to deal 
with 150,060 lbs. made Tea out of an anticipated Crop 
of 232,500 lbs. Samples already reported on and valued 
by Messrs. Forbes& Walker are eminently satisfactory. 
Mr. J P Anderson, the Company's Visitiug Agent, 
reported as follows as to the condition of the pro- 
perty, namely : — " I visited the Estate on the 22Qd 
and 23rd January and found the Estate in excellent 
order, clean, and all works up to date," from which 
it will be seen that given the necessary Working Cani- 
tal it only requires an improvement in the Tea Mar- 
ket to ensure the future success of the Company. 
Coast Advances. — Of the amount E26,239-09 shown 
as outstanding in the Balance Sheet, the Superinten- 
dent reports R10,669-25 as recoverable, Rl3,9t)9-84 as 
■doubtful, and Rl,600 are irrecoverable. 
In terms ofthe Memorandum and Articles of Asso- 
ciation of the Company Mr. W Shakspeare retires 
from the Directorate and does not offer himself for 
re-election. 
The appointment of an Auditor for the current year 
rests with the Meeting. 
THE CEYLON TEA AND COCONUT 
ESTATES CO., LIMITED. 
REPORT OF THE DIEECTOBS. 
AcKBAGE. — Tea. — In bearing, 402'1'32 acres ; in par 
tial bearing, 8"0-30 acres=i410*2-22 acres; coconuts. 
559'3'3 acres; cinnamon, 21"2-30 acres; rubber, 35-00 
acres ; grass, forest and chena, 380'2-38 acres ; total 
1,407-3"13 acres. 
The Directors have now to submit to the share- 
holders the accounts for the past year. 
Tea Division. — The crop secured amounted to 
132,186 lb. being about 12,814 lb. under the estimate- 
which is accounted for by the extremely bad season, 
and because at the beginning of the year the tea still 
suffered to a certain extent from the effects of the 
attack of Qrey Blight referred to ia last year'f 
