July 1, 1902.] THE TROPICAL AGRICULTl/RIST, 
49 
CEYLON PROPRIETA.tlY TEA ESTATES 
COMPANY, LTD. 
Directors.— Messrs. G A Talbot (Chairtnan) tl K 
Kutliertord, R A (Jjimeron, F H Wigt,'in. Secretary. 
—Sir Will. Joiinstoi), Bi\rt, Manager in Ceylon.— 
Mr. H V Masetifld. OlHce.— 20, Eastclieap, Lon- 
"'Eepoi-t of the Directors to be submitted at the Fifth 
4.nnu»l Ordinary General Meeting of Shareholders, to 
be held at the Otace of the Company on Tuesday, 
13th May, 1902. , , , 
The Directors herewith submit the General Jialance 
Sheet and Profit and Loss Account for the year ending 
31st December, 1901, duly audited. 
The nett amount at credit of 
Profit Rud Loss Account, after 
providing for General Expenses, 
Income Tax, &c., is .. 3,505 19 5 
Debenture Interest 
paid to 30th Sept., 
1901 (less Income Tax) 
aniouuls to ±'709 7 6 
Less from last 
Account 178 2 6 
531 5 0 
Three months' Debenture In- 
terest to 31st Dec, 19I>1 (,less 
Income Tax) amounts to ... 211 17 6 
Preference Dividends paid 
for 1901 {less Income Tax) 
amount to . . 1,232 17 3 
It is proposed to write off 
for Depreciation ... 750 0 0 
And to carry forward to 
next year a Balance of ... 779 19 8 
■ £3,505 19 5 
During (he past year the Company's Estates have 
given a yield of 407 lb, per acre against 490 lb. in 1900. 
The gross p'-ice for ihe Teas sold in London and 
Ceylon averaged G.36d. against G.lOd. last year and the 
rate of excliange is l/4i-d against 1/4 13-32d. 
The low prices ruling for medium and low elevation 
teas in 1900 continued in 1901, but it is a matter for 
satisfaction that the prices realised for the Company's 
teas have been higher than during the previom year. 
The shorter output caused by a very uifavonrable 
aeas on, and to some extent by more careful plucking, 
his, however, seriously reduced the profit?. 
The following statement shows the results gf the 
working of the Company for the last five years : — 
<D° S .H So ^ 
fH <!,3 >^ 
1897 2100 413 
1898 2105 407 
1899 2111 4.39 
1900 '2071 490 
1901 21G,5 407 
P-i 
d. lb. lb. £ 
6.90 89,307 990,816 6,277 
6.94 94,370 990,251 4,834 
7.11 1,681 990,."18 6,7uO 
6.10 3,.331 1,119.124 3,691 
6.36 .. P36 485 3,124 
Exchange for five years.-1897 1/3 15-32 1, 1898 
]/4 15-e4d, 1899 1/4 13 32d, 1900 1/4 13-32d, 1901 
i/4e. 
* Estate Tea for five years.— 1897 868,710 lb., 1898 
8.i7,3511b,, lb99 927,395 1b., 1900 1,016,112 lb„ 1901 
883,174 lb. 
* Bought h-ieA Tea for five years.— 1897 32,799 lb. 1898 
38 530 lb., 1899 61,772 lb., 1900 99,351 lb., 1901 53,311 lb. 
Under Clause 09 of the Articles of Association, Mr 
E A Cameron retires from the Board on this occasion, 
but being eligible, offers himself for re-election. 
The Auditors, iVIessrs. Harper Brothers, Chartered 
Accountants, also retire from office, aud offer them- 
selves for re-election. 
By Order of the Board, Wm. Jounston, Secretary, 
London, 5th May, 1902. 
OUVAH COFFEE COMPANY, LIMITED. 
( Incorporatnd in 1896. ) 
CAPITAL £100,000 IN 10,000 SHARICS OF 
£10 EACH. 
DiRECTOR.S :— .\lfred Brown (.Manafjinjc Direc- 
tor) ]i Famin ; J O VVanlrop and P C Oswald. 
SiiCUETAUY :— J Alec Robert-'. Ollicea.— 5, Daw- 
gale Hill, London, E. C. 
DEPORT 
to be presented to the Seventh Ordinary General 
Meeting of the Company, to bo held at No. 5, Dow- 
gate Hill, London, on Thursday, the loth day of 
May, 1902 at 12 o'clock noon. 
The following Annual Accounts are now presented 
to Shareholders, viz ; — 
Balance Sheet made up to 31st Deiember, 1901. 
Profii and Loss Account for the year endod 3l3t 
December, 1901. 
The receipts from the sale of produca were aa 
under : — 
Tea from the Company's lb. 
own estates .. 1,029,100 
Tea made from bought 
leaf ... .. 68,666 
£ 8. d. 
Total .. 1,098,066 31,574 1 2 
Coffee 220 cwt. 0 qr. 181b. .. 88114 3 
Cocoa 81 cwt, 0 qr. 15 lb. . . 218 8 1 
Cinchona 2,889 lb .. .. 46 10 9 
Sundry sales in Ceylon . . . . 117 16 0 
Value of Cinchona Bark and Cocoa 
under-estimated last year 
Total receipts 
603 6 9 
£33,441 17 0 
The total expenditure in Ceylon and London 
amnunted to £27,053 10s lOd, and deducting this 
from the value of the produce a profit is shown of 
£6,388 63 2d, to which has to be added the 
balance of £703 5? 4d brought forward from the 
previous year, making a total of £7,093 Us 6d at 
the credit of prof't and loss. 
From the above sum the Directors have transferred 
to the credit of BaduUa Factory account £50). 
The interim dividend of 2^ per cent, paid on 15th, 
November, 1901, absorbed £2,500, and Income Tax 
£332 2s Id, leaving a balance of iS;i,761 Os 5d, out 
of which it is proposed to pay a further dividend 
of 3} per cent, making 6 per cent for the year 
and to carry forward to ne.xt account the sum of 
£261 93 5d. 
Climatic conditions during the past season were 
not favourable, and this, combined with a system 
of finer plucking, reduced the yield of made tea to 
520 lb. per acre, against 602 lb. secured during the 
year 1900. 
The finer plucking improved the quality of the 
tea, which sold at an average of 6.90 per lb. against 
6 10 for the previous reason, but the smpUer yield 
enhanced the producing cost, w'nioh rose from 21'51 
cents to 28'13 cents f. o. b. Colombo. 
The policy of liberal cultivation has been con- 
tinued, and the Company's properties are reported 
to be in good heart and condition throughout. 
Mining on the line of the plumbago vein has 
been suspended, owing to the difficulty of keeping 
the vertical shafts ventilated and free from water 
at the increased depth. Work is at present con- 
fined to driving a low-level inclined tunnel, which 
is expected to cut the vein of plumbago, well in 
advance of the present workings. This tunnel will 
form a natural drain from the mine, and all ore 
bodies will be removable by means of gravita- 
tion, which should reduce the cost of working to ^ 
caiuituam. 
