840 
THE TROPICAL AGRICULTURIST. [June 1, 1901. 
annnal drawings of not less than f 7>500. As shown 
in the schedule below the Company, on Slat December 
laBt, and 10,960 acres under Tea cultivation of which 
10,093 were over four years old. The yield of Tea in 
1900 was 4,045,146 lb, the average gross sale price 
being 6-5d as compared with V29d in 1899, To this 
fall of about Jd per lb, which corresponds closely to 
the general average decline in price of Ceylon tea for 
the same period the Company's diminished profit for 
the past year is almost wholly due. In the face of so 
serious a decline in value due to over production in 
India and Ceylon no efforts by estate proprietors are 
being spared both independently and in combination 
to restrict the output of Tea by finer or more careful 
plucking and by other methods which have commen- 
ded themselves to the Joint Tea Associations of both 
countries. At the same time the efforts to promote 
the further consumption of Indian and Ceylon tea 
outside the United Kingdom are being actively con- 
tinued with the same encouraging success as hereto- 
fore. The average rate of exchange for the year was 
Is 4 7-16d as compared with Is 4fd in 1899. 
In view of the exceptional conditions affecting the 
profits in 1900, the amount written off for depreciation 
of buildings and machinery has been calculated at one 
half the scale hitherto adopted. 
It is with much regret that the Directors have to in- 
form the Shareholders of the death, in December last 
of their valued colleague and chairman, Mr C J 
Lindsay Nicholson. The vacancy thereby occasioned 
on the Board has been filled by the appointment of 
Mr G A Talbot, who in accordance with the Company's 
Articles of Association vrill retire at the General 
Meeting and will be proposed for re-election. In ac- 
Bccordance with the Articles of Association, two of the 
Directors, Mr David Reid and Mr Norman W 
Grieve, retire from office, and being eligible, ofier 
themselves for re-election. The retiring Auditors, 
Ifessrs Welton. Jones & Co., offer themselves for 
xe>eleotion. 
RALPH A. CAMERON, 
Chairman and Managing Director, 
•^il, Eastcheap. £. C. 10th April 1901. 
Schedule of the company's estatbs at 31st 
decehbek, 1900. 
Arapolakande Hope Meddecoombra 
Asgeria and Balat* Ingurngalla(& Norwood 
watte Berrowella 
Golonna Eirrimettia Rothschild 
Oondegalla Eumaradola Sogamma 
DoonibegastalaWa Knmbnkkan Yellai oya and 
Dandukelawa 
toromoland Labookellie Wevekellie 
aores. 
Under Tea .. 10,960 
„ Cocoa .. .. 600 
,1 Oardamoma, Cinchona, Rubber 
and Sundries . . ... 429 
Forest, Grass and uncultivated 
Land .. 4,543 
Total .. 16,532 
The total crop secured amoauted to 896 bushels 
parchment coffee, but owing to abnormally dry 
weather experience while the orop was on the trees 
the out-turn was very unsatisfactory, the proportion 
of light and damaged beans being unusually large 
Of the 633 acres desoribed in last report as under 
cultivation, a careful analysis made by the Com- 
pany's Manager shows that 121,786 trees equal to say 
100 acres are in bearing, and 177,860 trees equal to say 
148 acres are of one and two years old the difierence say 
385 acres representing the vacancies in the culti- 
vated area equal to 220 acres, and 165 acres ac- 
tually abandoned. The Manager's Estirrate of 
Expenditure for the current year is £995 I9s 6d. 
against an estimated crop of 10 tone, which may 
possibly yield £400, and the season's working will 
thus result in a deficit of £595 19s 6d. The 1901 
crop is to be gathered from 100 acres in bearing, 
assuming that the 148 acres of young coffee trees 
yield at the same rate in 1902, our crop for that 
year should amount to say 25 tons worth say £1,000, 
if this is obtained there would be a slight profit 
on the 1902 working, with prospects of larger crops 
and increased profits in succeeding years as the 
vacancies supplied up during the recent raina 
amounting to eay 220 acres come into beitring. 
Scarcity of labour has precluded the Manager from 
keeping the land clean, and he ascribes the 
large number of failures to the plants being choked 
by weeds. 
The Manager writes under date 11th January : — 
" I am planting rubber in moat of the clearings 
this month." 
As will be seen from the Balance Sheet the Com- 
pany was indebted to Messrs. Carson & Co. as at 
the 31st December to the extent of R25149 21, and 
a further sum of R9,091'29 has been advanced since 
that date, making a total of R34,240-50. As inti- 
mated to the shareholders in copies of letters which 
were circulated by order of the Directors, Mesrs. 
Carson & Co. have demurred to financing the Com- 
pany after 31st March last, and failing some scheme 
being adopted with a view of providing funds for 
the liquidation of their advances and for the carry- 
ing on of the Company, they will take steps to 
recover the amount due to them by such means 
as they think advisable, and by a forced sale of 
the Company's property if necessary. In the latter 
alternative the return to the shareholders of the 
capital invested will probably be very small, and 
it is urged that they should in their own interests 
support the scheme put forward by the Directors 
for carrying on the Company. 
In terms of the memorandum and articles of 
Association of the Company, Mr W Shakespeare 
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. 
NY ASS ALAND COFFEE CO., LTD. 
The report of the Directors for the past year is 
as follows : 
ACREAGE. 
468 acres estimated as in cultivation. 
2,908 do Reserve. 
Total 3,376 acres more or less. 
The Directors beg to submit the accounts for the 
year ending 31st December, 1900, from which it will 
b<i seen that season's working has resulted in a 
deficit of R20,669'76, thus further increasing the in- 
debtedness of the Company to the Agents and Secrel 
(ariee, Messrs, Oarsou & (Jo. 
THE CRAIGHEAD TEA COMPANY. 
The Directors have the pleasure to submit the 
Balance Sheet and Accounts of the Company for 
the year ending 31st December 1900, duly audited, 
The mortgage was reduced to £3,600 by the pay- 
ment of the second instalment of £430 on the 80th 
June last. This sum is debited to profit and 
loss account, and is an ample charge for depre-ciation. 
To complete the withering shed and to meet 
the cost of an oil engine, a new roller and dryinj? 
machine, amounting in all to £1,173 15s 53, which 
has been debited to Estates Account, one hundred 
of the unissued six per cent Preference Shares, 
ranking for dividend from the 1st July last, were 
offered to and subscribed for shareholders 
at par. 
The increased accommodation and new machinery 
provided Will enable the Manager to deal satis- 
factorily with the Increased yield from the younge; 
fields aow oomiug into bearing. 
