768 
THE TEOPICAL AGRICULTURIST. 
May 1, 1901. 
The mortgage has been reduced to £17,000, by the 
payment of the third instalment of £1,500 on the Slst 
December last, which has ..been charged against the 
profit of the year. 
From the statement at foot giving particulars of 
the past year's working, as compared with the 
previous two seasons, it will be seen that, while the 
yield and cost of productioo remain practically the 
game, the gross average price of the Tea sold in 
London on account of last season was the highest 
recorded, viz., ll'21d., there having been a good 
marliet for Teas combining strength and quality. 
The Expenditure on new clearings, about £330, ia 
charged against S,evenue. 
Statement shewing results of working for the 
three years ending 31st March, 1900 : — 
5.5 a- 
a* O M ^ ■ ra 
g pi o ca & -r. 
2 § 
O rc 
CQ a 
< u 
-Sots .Cr-WO® 
o <S. u ^ -i^-^ca 
1898 802 421,284 525 418,565 10-57 27* 1/4 3-16th 
1899 802 419,544 523 419,110 10'23 27 1/4 5-16th 
1990 802 419,682 523 417,978 11-21 27| 1/4 9-32th 
The net profit for the year 
Bmounted to £8,310 8 4 
To which has to be added 
interest 76 16 8 
And the balance from last 
year of 568 16 1 
£8,950 16 1 
Interest on the mortgage for 
the year has been paid, amoun- 
ting to £905 14 7 
The third instalment of the 
mortgage of £21,500 has been 
paid, viz. 1,500 0 0 
Dividend on the 6 per cent. 
Preference shares for the year 
less income tax, has been paid 314 17 6 
An interim dividend of 5 per 
Denti,freeof income tax, on the 
erdinary shares was paid on the 
30th September 1,858 10 0 
Income tax . 256 7 4 
It is proposed—To pay a final 
dividend of 10 per cent, on the 
ordinary shares, free of income 
tax. making 15 per cent, for the 
year, which will require 3,707 0 0 
And to carry forward the bal- 
ance of 413 6 8 
£8,950 16 1 
The Directors desire to place on record their appre^ 
ciation of the efficient management of the estates by 
their Superintendent and his staff. 
The Director retiring on this occasion is Mr. 
Charles Murray Robertson, and he being eligible 
offers himself for re-election. — By order of the Board' 
EoBRETsoN, Boia & Co.. 
Agents and Secretaries. 
Schedule of the Company's Estates. 
• .a . 
I .2« 
to 
a?alawakelle (a) 302 
Nanuoya . . 250 
Katookella . 250 
Total . . 802 
o.S 
Co o 
EH 
12 
30 
42 
<T2 
sen 
(b) 69 
3 
a " 
^ ° - 
w 
(c) 22 
72 
o 
405 
262 
288 
955 
(«) 3 acres leased from the Proprietors of the 
Boutiques. 
(6) 25 acres felled. 
HIGHLAND TEA COMPANY OF CEYLON, 
LIMITED. 
Report of the Board of Directors, to be presented 
to tlie Sliareholders at their filth annual ordinary 
meeting to be lield at the office of the Com- 
pany, 16, Philpot Lane, London. E.C., on 
Tuesday, 16th April, 1901 at 3 o'lock p.m. The 
report 01 the directors for the year ended December 
31st last states that the netprofits^ have amounted 
to £2,438 193 lOd to which has to be added 
a balance of £86 10s 5d brought forward from 
previous accounts, living a total to be dealt 
with of £2,525 10s 3il. An inteiini dividend of 
3 per cent, (free of Income Tax) paid in Septem- 
ber, 1900, absorbed £960, and it is now prouosed to 
pay a final dividend of 3 per cent., free of in- 
come-tax, niaking 6 per cent, for the year, 
amounting to £960, and to write off e,-tates ac- 
count £500, leaving a balance to carry forward of 
£105 10s 3d. The profits shown by above figures tall 
somewhat short of those earned for the previous 
year, but, in view of the period of seveie depres- 
sion through which ihe tea industry has been 
passing, the directors ihink the shareliolders are 
to ue congratulated on the results attained. The 
total ciop of tea produced bv the Company's 
estates was 262,510 1b, against 259,2331b in 1899, 
showing an increase of 3,277 lb ; the average yield 
per acre all over was 448 lb, against 443 lb. and 
the average price realised in London was 8d per 
pound, against 8kd per pound. With regard to 
exchange, the directors issued instructions early 
in the year that the drafts against estate expendi- 
ture were to be drawn at a shorter usance than 
formerly, and the result of this course is a reduc- 
tion in the rate of exchange from Is 4 25-64d to 
to Is 4 19-64d per rupee, by which some saving 
has been effected. The reports from the com- 
pany's properties continue to be of a satisfactory 
character. 
A POSSIBLE PARADISE : CYPRUS. 
Reporting upon tlie condition of Cyprus for the 
past year, Sir W F Haynes Smith, High Com- 
missioner, says :— 
" The climate is exceedingly good, and the 
southern or Troodos range of mountains affords an 
excellent summer sanatorium. During five months 
of the year the top of the Troodos range is covered 
with snow, and a sanatorium might be established 
in its bright and clear air, which, even in winter, 
would afford a better climate than can be found 
anywhere else on the shores of the Mediterranean. 
A cool temperature would be obtained in summer, 
and a bright and w^arm sun enjoyed in winter on 
the ciispsnow as in Switzerland. 
" The irrigation works which are being con- 
structed from the loan of £60,000 granted by the 
Imperial Parliament have been continued and have 
made good progress. Every one who has seen the 
magic effect of water on the cultivation in Cyprus 
must watch this experiment in irrigation with 
keen interest and with hope for its complete 
success. 
" The Cypriot peasant lives for a very small sum 
on bread, olives, oil, raisins, vegetables, and wine, 
the products of the country, using little meat and 
buying tobacco at a low price. His clothing is, to 
a large extent, home made from the cotton grown 
in the country and from the produce of his floeks. 
The cost of living to Europeans i? moderate, bu^ 
the tendency is to increase. 
