Sept. 1, 1902.] 
THE TROPICAL 
AGRICULTURIST. 
203 
Owing to its former inaccessibility, and to the heavy 
expenditure which has had to be incurred in opening 
np eommunicatious, the development of the Com- 
puny's large Concession in the Kanan Devan Hills, 
Travancore, has cost more than was originally 
expected. It was understood at the time planting 
operations were commenced in these Hills that tho 
Government of His Highness the Maharajah of 
Travancore would construct a cart-road from the 
High Range to the plains, and thus afford 
direct communication to the port of Cochin which 
is about 86 miles from the Company's head- 
qaarters at Munaar. After protracted negotiation, 
however, the Travancore Government declined for the 
present to proceed with the construction of the pro- 
posed cart-road to the west, owing to the cost being 
estimated by their chief engineer at so high a figure as 
i;U2,000. 'The Company was, in the circumstances, 
obliged to make its own arrangements for opening up 
communications, and this was done by the construc- 
tion of amain cart-road and tramway for over 30 miles 
through the Concession to its eastern extremity, and 
by the erection of an aerial ropeway from that point 
(6,000 feet above sea-level) to a place called Kotagiidi 
in the plahis. From Kotagudi a cart-road 10 miles 
long was made to Bodinaikanur, one-third of the cost 
of which was contributed by the Government of 
Madras. There is a Government road from Bodi- 
naikanur to Anmanaikanur Station on the South 
Indian Railway, connecting with Tutioorin, from which 
port the Company's produce is shipped. The Directors 
are glad, however, to be able to state that the Govern- 
ment of Travancore, although unwilling meantime 
to proceed with the western outlet, have agreed to 
contribute up to R400,000, or about ±'26,500 for the 
constroction of a cart-road to the north to con- 
nect with the Madras Presidency road-system, and 
an agreement has been entered into whereby the Com- 
pany has undertaken to make this road at a cost not 
exceeding the figure named. This road will be of 
great advantage in making the Concession more 
accessible and cheapening the cost of rice and other 
foodstuffs there. 
The shareholders will notice from the accounts that 
the paid-up capital of the Company, as at 30th Nov- 
ember last, was £360,000, and that the Block cost of 
the properties, which includes, of course, the expen- 
diture by the Company on communications referred 
to in the preceding paragraph, amounted, as at that 
date, to £814,895 83 9d. It is estimated that a further 
sum of about £120,000 will be required to bring the 
existing young cultivation to maturity, and to com- 
plete the equipment of the properties with factories, 
machinery, &c. The Directors, therefore, decided to 
issue the Isalance of the authorised Capital of the 
Company, namely, 15,000 Preference Shares and 10,000 
Ordinary Shares. This fresh issue of Capital will, of 
course, be oSered in the first place to the Share- 
holders of this Company, but the Directors are glad 
to be able to state that Messrs. James Finlay & Co. 
are prepared to take up, at par, whatever portion of 
the issue may not be subscribed for bj other Share- 
holders, and to apply, so far as required, their cash 
advance to the Company, which exceeds £300,000, in 
meeting the amount due on the shares which may 
be allotted to them. To the extent of their 
cash advance so applied Messrs. James Finlay & Co. 
will take the position of shareholders instead of credi- 
tors of the Company. 
The Directors propose to make a call of £2 per 
share on the ordinary shares already issued, of which 
due notice will be given. On the fresh issue of 
ordinary shares it is proposed that £3 per share should 
be payable on application and £3 per share on 
allotment, making the new issue also paid up to the 
extent of £6 per share. 
The Directors regret to state that Sir John Blair, 
wHo has acted as Chairman of the Company since 
its formation, has been obliged to resign as member, 
pf (he Board accouat ^f the state of bis healljh. 
They hope that after a time he may be able to again 
preside at their meetings. In the meantime Mr A 
K Muir, who was offered and accepted a seat on 
the Board, has agreed to act as Chairman. Mr 
Muir has been in India for the last eleven years, 
latterly as Senior Manager of the Calcutta Agents' 
firm, and has been connected with the management 
of the Company's estates since planting operations 
were commenced in Travancore. 
In terms of the articles of Association, one of the 
Directors, Mr A B Murray, retires at this time. 
The Directors regret that ISIr Murray, although 
eligible for re election, finds it necessary to retire 
on account of ill-health, and they have considered 
the question of filling his place. They approached 
Mr D M Mannay, of Messrs Kelly & Co., Exchange 
Square, Glasgow, and he has expressed his willing- 
ness to be nominated for a seat on the Board, 
The Auditors, Messrs Alexander Sloan & Co., C.A,, 
retire, and offer themselves for re-eleciion. 
DUMONT COFFEE COMPANY, LIMITED. 
r/IRECTOES' KEORT. 
The Directors submit tiie general balance sheet 
and profit and loss account for the year eadins; Slat 
December, 1901. 
The gross profit for the year, exclusive £. a. d. 
of £10,263 las 7d brought forward from 
previous year, amounted to 73,693 4 10 
And the London charges were 3,314 11 7 
Leaving a net profit of 
Amount brought forward from 1900 
70,378 13 3 
10,263 15 7 
80,612 8 10 
Interest at 5| per cent per annum inclu- 
sive of income tax has been paid on 
the Debentures amounting to £21,989. 
A payment of 2J per cent inclusive of 
income tax was made on 1st Feb. 1902, 
on account of arrears of dividend on 
the preference shares £10 000. Ditto, 
ditto, was made on 1st July, 1902, on 
account of arrears ditto £10,000 41,989 0 0 
Total 38,653 8 10 
It is proposed to set a-iide for buildings 
and machinery the sum of 5,000 0 0 
And to carry forward a balance of 33,653 8 lO 
At a later date, when more of the crop has been 
sold, the Directors hope to be in a position to pay a 
further dividend on account of arrears of the preference 
shares out of this balance. 
The crop for 1901 has amounted to 143,395 cwts., 
which is equivalent to the large yield of over 12 cwts. 
per acre of the coffee lands in bearing. 
Of this quantity 103,Gl5 cwts. were sold in London. 
14,645 do do in Santos. 
4,819 do do in New York. 
21,316 do were unsold at date of 
making up this acoouat. 
Total .. cwt. 143,395. 
The gross average price for the whole crop (including 
the portion unsold, which has been taken in the 
accounts at 30/ per cwo.), is equivalent to 38/8i per 
cwt. lauded in London, as against 40 2 per cwt. the 
previous year. The average price realised for the 
Company's pulped coffee, of which there were 39.362 
cwt., was; 37/5i, and for the Company's nnpulped 
coffee 32/3i. 
The exchange rate for the milreis was again adverse 
to the Company's business, being 11 7-16 as »gainst 
10'44 the previous year; but, notwithstanding this, 
the coffee was laid down in London at 2/6} per cwt, 
less cost than in 1900. 
The coffee crop from Brazil for the year under 
review was the largest on rij^ord, b^iug 15,500,0^0 
