June 1, 1901.] THE TROPICAL AGRICULTURIST. 
845 
CEYLON TEA PLANTATIONS COMPANY 
LIMITED. 
Report of the Directors to be submitted at 
the fourteenth annual ordinary general meeting 
of shareholders, to be held at the OIK?e of the 
Uoni|iany, on Tuesday, 30th April, 190L 
The Directors have the pleasure to submit the 
General Balance Sheet and Profit and Loss 
Account for the year ending Slst December, 1900, 
duly audited. 
The net amount at credit 
of Profit and Loss Ac- 
count.inclading balance £ s. d. £ a. d. 
brought forward at 30th 
December, 1899, and 
after providing for 
General Expenses, Direc- 
tora' Fees, Income Tax, 
Ac, is .. .. 47,367 8 11 
Dividends on the 7 per 
cent. Preference Shares 
v?ere paid for 1900 (less 
Income Tax) amount- 
ing to . . 5,415 
An Interim Dividend of 
7 per cent on the Ordi- 
nary Shares was paid 
28th October, 1900, 
amounting to .. 11,716 12 0 
It is proposed to pay a 
final Dividend of 8 per 
cent on the Ordinary 
Shares (making 15 per 
cent in all, free of Income 
Tax, which will absorb 13,390 8 0 
To write off for Depre- 
ciation .. 10,000 0 0 
And to carry forward to 
next year a balance of 6,845 9 6 
£47,367 18 11 
Owing to the largely increased production of 
British-grown tea being in excess of market re- 
quirements, the past year has been the most 
unfavourable one on record for producers generally. 
The results, however, ef this Company's working 
have been such as to enable the Directors to re- 
commend the payment of a dividend of 15 per 
cent on the ordinary shares, for the fourteenth 
consecutive year. 
The Reserve Fund stands at £100,000, and it is 
not proposed to further add to this at present, but 
the sum of ^610,000 has been set aside for depre- 
ciation. ' 
The purchase of Pitaratmalie estate in the Hapu- 
tale District was concluded during the year, and 
this fine property stands in the Company's Books 
at £40i580. The acreage of the estate is as under : — 
Acres. 
Tea in bearing . . ... 501 
Tea not in bearing ... ... 183 
Grass Lands, Ravines, <fcc. . , 193 
Forest .. 728 
Total • 
1,605 
The yield of tea from the Company's Estates 
was 526 lb. per acre as against 485 lb. the pre- 
vious year. 
The crop for 190O was as under : — 
Tea Manu- 
Estate Bought Leaf factnredfor Total, 
Tea. Tea others, 
lb. lb. lb. lb, 
4,432,132 481,656 449,104 5,362,892 
The gross price realised for the teas sold in 
London was 7 36d as against 8'lOd last year, and 
the rate of exchange comes out at the same a3 last 
year. viz. la 4 19-o4d. 
The coconut crop was disappointing and con- 
siderably below estimates, owing to an unfavour- 
able season. The present year, it is confidently 
expected, will shew a marked increase. The crop 
was 1,389,418 nuts as against 1,416,643 the previous 
year. 
Tlie Board have to record with deep regret the 
death of their colleague, Mr. Henry Tod, who was 
a Director of the Company from its fouudation. 
Mr. William Herbert Amderson has been elected to 
the vacancy thereby created and you will be asked 
to confirm his appointment. 
The Directors again cordially desire to express 
their appreciation of the services rendered by the 
various officers of the Company in Ceylon and 
London. 
Uunder Clause No. 69 of the Articles of Asso- 
ciation Mr. G A Talbot retires on this occasion 
from the Board and being eligible, offers himself 
for re-election. 
The Auditors, Messrs. Harper Brothers, Chartered 
Accountants, also retire from office and offer them- 
selves for re-election. — By Order of the Board, 
Wm. Johnston, Secretary. 
London, April 22nd, 1901. 
THE RAGALLA TEA ESTATES, LIMITED. 
REPORT OF THE DIRECTORS 
to be submitted to the shareholders at the Sixth 
annual ordinary general meeting, to he held at 30, 
Mincing Lone," E.G., on Tuesday, Miy 7th, 1901, 
at 12 o'clock noon. 
The Directors beg to submit their Report, and also 
Statement of Accounts, duly audited, for the period 
of 12 months ending 31st December last — 
Shewing a net Profit for that period, 
after writing off £700 for depre- 
ciation, of . . . . £4,498 19 9 
Add the balance of last account . . 93 8 7 
4,592 8 4 
Oat of which the following dividends have been 
paid .-— 
1900, 1st July— Preference 
Shares .. i; 1,050 0 0 
1901, 1st January ,. 1,050 0 0 
2,100 e 0 
From which the Directors recommend a 
dividend of 6 per cent on the Ordi- 
nary Shares 
2,492 8 4 
2,340 0 0 
Leaving a balance to carry forward of £152 8 4 
The Directors are glad to report that theantioipa- 
tions of the Chairman at the last general meeting 
have been fully realised, and notwithstanding the 
low prices current in the tea market, the accounts 
justify them in recommending a dividend of 6 per cent 
on the ordinary shares, after making provision to 
the extent of £700 for depreciation. 
The tea crops for the season amounted to 634,208 
lb., and the net average price after deducting the 
usual charges was 7'68d per lb. A small amount 
of coffee, 27 cwt., was also secured. 
The following are the acreages of the Company's 
Estates : — 
Name. Tea. Coffee. Timber Patna, Total. 
&c. 
Ragalla and 
HalgranOya, 911 — 177 302 1,390 
Kelburne 742 10 165 64 981 
1,653 10 342 366 2,371 
and it is estimated that the tea crop for the current 
season will be 750,000 lb. 
The Directors have arranged a further issue of 
£12,000 of debentures to pay off the existing loaq 
