June 1, 1901.] THE TROPICAL AGEICULTURIST. 
841 
F The total yield, excluding 6,500 lb. made from pur- 
chased leaf, was 395,105 lb. Tea, and the gross average 
price obtained in London was 6"85d per lb. Last year 
the crop was 342,250 lb. Tea, and the gross average was 
7-82d per lb. 
The Net Profit for the year £ s d £ a d 
amounted to ..2,272 6 3 
To which has to be added the 
Balance last year of . . 636 9 3 
i2,908 15 6 
Interest on the Mortgage haa 
been paid • . 191 5 0 
The Second Instalment of the 
Mortgage (£4.500) has been paid 450 0 0 
Dividend on the Six per cent. 
Preference Shares for the year 
has been paid •.• 451 16 0 
An Interim Dividend of 2J 
per cent, on the Ordinary 
Shares, free of Income Tax, has 
been paid . . 572 15 0 
It is proposed — 
To pay a final Dividend of 2J 
per cent,, free of Income Tax, 
on the Ordinary Shares, which 
will require ... 572 15 0 
And to carry forward the 
Balance of . . 670 4 6 
£2,908 15 6 
Colonel Eobert Hugh Wallace, the Director who re- 
tires on this occasion, being eligible, offers himself for 
re-electiou. 
Mr. J. Hamilton Alston, the Auditor, also retires, 
and offers himself for re-election. 
By Order of the Board, Robertson, Bois <fe Co., 
Agents and Secretaries. 
London, lObh April 1901. 
The approximate acreages are as follows : — 
Tea — Five years and older 
Planted in 1896 . . 
Do 1897 -- 
Do 1898 
Cardamoms 
Timber Trees 
Waste 
.a* o 
O 
Acres. 
489 
68 
52 
40 
8 
38 
15 
Acres. 
233J 
13 
Total. 
722* 
68 
52 
53 
8 
38 
62§ 
710 
294 1,004 
EDERAPOLA TEA COMPANY OF CEYLON 
LIMITED. 
REPORT OF THE BOARD OF DIRECTORS. 
To be presented to the shareholders at their fifth 
ordinary general meeting, to be held at the Office of 
the Company, 16, Philpot Lane, London, B.C., on 
Wednesday, 8th May, 1901, at noon. 
The Directors beg to submit to the shareholders 
the report and accounts of the Company, duly audited 
for the year ending Slst December, 190D. 
Inclusive of 22,097 lb. made tea from bought leaf, 
the total out-turn from the three factories amounted 
CO 554,430 lb. showing an increase of 88,281 lb. com- 
pared with last season. 
The avernpe price realised was 5'803d. per lb. as 
against 6*959d. per lb. last year, and the average rate 
of exchange was 1/4 27/64ths, the same rate as that 
for 1899. 
Your Directors have to inform you that the formal 
agreement between the Company and the contractors 
engaged in Plumbago miuiog at Ardross, referred to 
in last report, was duly completed, and considerable 
progress has been made and expenditure incurred by 
the miners in tunneling, though the output of plum- 
bago up to the present has been small. 
The low prices current in the tea market for the 
latter part of the past year are responsible for the 
ehriokage in the profit earned, but there is every 
reason to expect that, consequent on the steps now 
being generally taken both in Ceylon and India to 
restrict output and improvs quality, the results for the 
current year will be more satisfactory. 
The net Profit for the year amounts to £1,389 9s 8d,, 
which, with £138 7s Od brought forward from lasl year) 
gives £1,527 16s 8d to be now dealt with, and this it is 
proposed to apportion as |foIlows : — 
Amounts as above £lj527 16 S 
Interim dividend of 3 per 
cert (free of Income Tux) 
paid in September, ab- 
sorbed £765 0 0 
To write off expenditure 
for the year on Develop- 
ment Account 341 1 7 
1,106 1 7 
To carry forward to nixt aocount i'421 15 1 
Mr. James Bett, having accepted an appoimtment in 
Ceylon, has resigned his seat at the Board, but it is not 
at present intended to fill the vacancy thus cre»ted. 
I n accordance with the articles of Associition, Mr. 
George W Paine retires from the Board at this time, 
and, being eligible, offers himself for re-election. 
Messrs, Cape and Dalgleish, O.A., also offer them- 
selves for re-election aa Auditors. 
G W PiiMM, 
16, Philpot Lane, London, Chairman; 
E.G., 18th April, 1901! 
BUKNSIDE TEA COMPANY OF 
CEYLON. (LTD.) 
BEP«RT OF THE BOARD 0» DIRECTORS. 
To be presented to the Shareholders at their Fifth 
Annual Ordinary Meeting, to be held at the Office 
of the Company, 16, Philpot Lane, London, E.G., on 
Tuesday, 7th May 1901, at 11 a.m. 
The Directors beg to submit the Shareholders the 
Keport and Accounts of the Company duly audited for 
the year ending 31st December, 1909. 
The total crop secured from the four Estates 
was 402,113 lb. Tea as against 378,608 lb for last 
year, and 52i maunds of Tea seed were obtained 
and sold, as against 62 maunds in 1899. 
The average price realized for Midlothian Tea was 
7'679d per lb; for the Burnside Group, 5'982dperlb; 
and for the whole crop, 6'297d per lb, as against 7 3-16d 
per lb for last season ; and the average rate of ex- 
change was 1/4 29-64d against J/4 13.32d. 
The results for the half-year ending 30th June last 
fully justified your Directors in paying an Interim 
Dividend of 2 per cent., but the fall in the Market for 
Tea during the last half of the year ao serioualy 
affected the position, that instead of the profit esti. 
mated, a loss on the working has been realized of £139 
15a 4d, and the final result, as shewn in the Balance 
Sheet, is a deficit of £324 15s 4d, carried forward to 
next account. 
In view of the efforts now being made.both in Ceylon 
And India, to restrict output and to improve the quality 
of the Tea produced, your Directors expect that the 
results for the current year will be very different, and 
they feel sure that the Superintendents of the Com- 
pany's Estates will do all in their power, by careful 
and economical working, to reduce the coat of pro- 
duction. 
In accordance with the Articles of Association 
Mr George Gray Anderson retires from the Board 
at this time and, being eligible, offers himself for 
re-election. 
Messrs Cape & Dalgeish, C.A„ also offer them- 
selves for re-election as Auditors. — By order of the 
Board, LYALL, ANDERSON & Co.. 
Agents and Secretaries, 
U, Philpot Lane, London, E.G., 4pril 19, 1901, 
