May 1, 1901.] THE TEOPICAL AGRICULTURIST. 
767 
THE LINDOOLA TEA COMPANY, LIMITED. 
Bepoet. — To be presented at the Fourth Annual 
General meeting cf the Lincloola Tea Company, 
Limited, to be held at the Offices of the Company, 
12, Fenchurch Street, London, B.C., on Monday, 1st 
April, 1901, at 2 o'clock p.m. 
The Directors have the pleasure' to submit the 
Balance Sheet and Accounts of the Company for the 
yeareudiiic; sist December, 1900, duly audited. 
It is with the deepest regret that the Directors 
record the great loss that the Company has sustained 
through the death of Mr. Walter Sandys Thomas, 
the Ceylon Manager, which occurred soon after his 
arrival in England on well-earned furlough. 
The result of the year's working may be considered 
satisfactory, and is very similar to that obtained in 
1899. The crop amounted to 185,634 lb. Tea, being at 
the rabe of 580 lb. per acre, against 189,020 lb. last 
year. The cost free on board at Colomljo was 25'11 
cents per lb against 24'78 cents, and the gross aveiage 
price of the 174,820 lb sold in London was 8Jd, the 
same as in the previous season- 
Drafts were negotiated at 1/4 9-32d against 1/4 19-64d 
last year. The current season's crop is estimated at 
185,000 lb Tea. 
The Net Profit for the year 
amounts to ..£2,190 19 7 
And the Balance from last 
year to ... 153 19 11 
Making a total of £2,344 19 6 
The Directors have already 
paid out of this dividends on 
the 6 per cent Preference 
Shares for the year ending 
3ist December, 1900 ... £780 0 0 
Interim Dividend on the 
Ordinary Shares of 2 per cent 
free of Income Tax ... 520 0 0 
Income Tax . . . . 47 18 8 
And it is proposed : — To pay 
a Dividend of 3 per cent free 
of Income Tax on the Ordi- 
nary Shares, making 5 per 
cent for the year . . ... 780 0 0 
And to carry forws,rd the 
Balance of . . .. 217 0 10 
£2.344 19 6 
The sum of about i£150 expended on new machinery 
having been charged against Revenue, the Directors 
do not consider it necessary to write off a specific 
sum for depreciation. 
The Director retiring on this occasion is Mr. 
Walter Cross-Buchanan, and, being eligible, he offers 
himself for re-election. 
The Auditor, Mr. J Hamilton Alston, also offers him- 
self for re-election. By Order of the Board, 
BoBEKTsoN, Bois & Co., Agouts and Secretaries. 
London, 19th iMarch, 1901. 
THE BATTALGALLA ESTATE CO., LTD. 
Eleventh annual report to the shareholders. 
The Directors, in presenting their annual report 
on the working of the Company's business for the 
past year, are pleased to be able to give again a 
generally satisfactory account. 
The increased production has necessitated a con- 
siderable outlay for new machinery, but the factory 
is novi thoroughly equipped to cope with the larger 
output, and no further expenditure is likely to be 
incurred under this head for some years to come. 
The quantity manufactured shows a considerable 
increase on the past year, totalling 274,5561b, against 
224,8031b in 1899. The average selling price in London 
has been 8-38d per lb, against B'lSd in 1899, and in 
Colombo 36 cents, against 37-04 cents in 1899. The 
total crop averaged a selling price of 7'85d, against 
8*22d last year, 
London sales were 169,28olb, netting £5,128 12s Id, 
find Colomtio sales 104,92&l)j, realising K37,737-99, 
This compares with 191,3501b, netting £5,835 73, and 
32,6001b, realising R12,075-20 in 1899 iu London and 
Colombo respectively. 
Exchange for drafts has averaged Is 4 7-16d, against 
Is 4 13-32d in the preceding year. 
An interim dividend of 5 per ceu't on the shares, 
free of income tax, was paid in September last, and 
there is now a balance at credit of profit and loaa 
account of £766 143 Id, from which the Directors 
propose to pay a further dividend of 5 per cent, free 
of income tax, absorbing £750, and to carry forward 
£16 4s Id. 
In accordance with the Articles of Association, Mr. 
C A Beiss retires by rotation, and, being eligible, 
offers himself for re-election. 
The Directors are very sensible of the services ren- 
dered to the Comp;lny by their estate Superintendent, 
Mr. GOB Norman, who has handled a very larga 
crop with unceasing attention and eiBciency. In 
tendering him and his assistants their very beat thanks, 
the Directors desire also to express their apprecia- 
tion of the valuable services rendered to the Company 
by their Colombo Agents, Messrs. E Benham & Co. 
50 and 51, Lime Street, London, B.C., 18th Mar. 1901. 
THE PANAWAL TEA COMPANY, 
LIMITED. 
The report of the directors for the year ending 
December 31, 1900, states that the net amount at 
credit of profit and loss account, including balance 
brought forward at December 31, 1899, aftei pro- 
viding for general expenses, directors and auditors' 
fees was .£1,577 12.^, dividends on the 7 per cenb 
cumulative preference shares were paid for 1900 in 
full amounting to £371, an interinv dividend of 2 
per cent on the ordinary shares was paid on Nov- 
ember 10, 1900, amounting to £340. It is proposed 
to pay a final dividend of 2 per cent on the ordinary 
shares for the year ending December 31, 1900, 
making a distribution for the year 4 per cent, free 
of income-tax, which will absorb £.340, to increase 
the reserve funds to a total of £1,720, by the addi- 
tion of a sum of £505 19s 6d, leaving a balance to 
be carried forvi-ard to next season of £20 128 6d, 
The directoi's recommend the distiibution of a final 
dividend at the rate of 2 per cent on the ordinary 
shares of the company for the year ending Decem- 
ber 31, 1900, making with the interim dividend 
paid to June 30, a distribution at the rate of 4 
per cent for the year. The directors having in 
view the very unsatisfactory state of the tea-grow- 
ing industry, consider it advisable to recommend 
the shareliolders to strengthen the reserve fundsi 
No alteiation has taken place during the last 
twelve monhts in the acreage of the company's 
properties, which stand at : On_ December 31 last, 
tea in full bearing 590 acres ; jungle, 341^ acres } 
total, 931^ acres. The directors consider that the 
shareholders have every reason to be satisfied 
with the result of the year's working. The crop 
realised for 1900 was 339,550 lb as against an esti- 
mate of 316,0001b. The yield in 1899 was 334,9221b. 
The visiting agent (Mr Melville White) before 
his departure from Ceylon, reported the properties 
as being in every way in excellent order at the 
date -jf his last inspection. — Home and Colonial 
Mail, March 29. 
THE TALAWAKELLE ESTATES CO.; LTD; 
Bepokt. — To be presented at the third ordinary 
annual general meeting of the Company, to be held 
at the Office of the Company, on Wednesday, the 3rd 
April 1901. at three o'clock p.m. 
The Directors have the pleasure to submit the 
balance sheet and accounts of the Company for tha 
year eai^jng 31st December, 1900, (^(vily audited, 
