420 
THE TROPICAL 
AGRICULTURIST. [Die. 1, 1902. 
139 cwt., and realised £490 123 5d. This crop was 
gathered off the suckers growing on the uncaltivated 
trees referred to in the last report. 
3. The total crop of cocoa gathered on Tatta- 
watte amounted to 938 cwt., and realised i£2,417 
133 7d, against 1,026 cwt. last year, which realised 
£3,610 3s lOd, The shortage in crops of recent years has 
been due to the disease which attacked the cocoa 
trees in Ceylon. It is hoped that Yattawatte has 
now passed through the worst stage, and will re- 
cover as other estates have done which were at- 
tacked earlier. Of cardamoms 777 lb. were gathered, 
realising £27 14s 4d, A large number of Para and 
Oastilloa rubber trees and also coconuts have been 
planted ou this estate, and are doing well. 
4. The total yield of tea was 934,650 lb. plucked 
off 2,181 acres being at the rate of 428 lb. an acre, 
and realized £25,142 9s 6d, the average being 
6"46d per lb. net. Last year the crop amounted to 
974,511 lb., which realized £26,979 17s 2d. the 
average being 6*64d per lb. net. A factory is in 
course of erection on Thotulagalla, and when com- 
pleted a considerable saving will be effected in coat 
of manufacturing tea on this estate. This capital 
expenditure is being charged to Suspense Account 
as usual, 
5. The average rate at which drafts were nego- 
tiated on account of the seasons' crops was 1/4 1-32 
per Rupee against 1/4 12-32 last year. 
6. The following statement shows the approxi- 
mate acreage and state cultivation of the Company's 
estates on the 30th June last, as per recent surveys. 
3 OS 
CO H (a 
70 
Estate. g § g gSJ 
Ampitiakande 291 — 4 — 
Arnhall 174 — — 255 — 
Fruit Hill 229 — — 8 — 
Pordyce, Gar- 
bawn, Gona- 
gala and Para- 
matta 798 — 5 — 135 
Rappahannook322 — 31 30 90 
Rillamule 195 — — 343 22 
Totulagalla 382 — — 60 114 
Yattawatte — 751 95 312 82 
365 
429 
237 
938 
473 
560 
656 
1,240 
2,391 751 135 1,008 513 4,798 
7. The net profits for the past year amounted 
to d64,108 15s 7d, to which must be added the sum 
of £1,144 Os 7d, the balance brought forward from 
the year 1900 01, making together £5,252 16s 2d. 
8. Having already paid a half-year's interim 
dividend on the six per cent. Preference Shares to 
the 3l3t December, 1901, amounting (less property 
tax) to £415 5s 6d, the Directors recommend pay- 
ment of the dividend on these shares to 30th 
June last, requiring (less property tax) £414 73 23, 
and having deducted £1,045' 63 9d, being one -tenth 
of the sums charged to suspense account daring 
the ten years ending 30th June, ISOl, they further 
recommend a dividend of 43 per share (free of in- 
come tax) being 2 per cent ou the ordinary shares, 
amounting to £3,000, carrying forward the balance 
of £377 168 9d to next account. 
9. Mr. William Austin, the Director retiring on 
this occasion, being eligible offers himself for re- 
election. 
Mr. John Smith, the Auditor retires and does not 
offer himself for re-election. — By order of the Board, 
C. M. Robertson, Secretary. 
Li, Fenchuroh Street, London, E.G., 29th Oct., 1902. 
THE MATURATA TEA COMPAMY, LTD, 
REPORT OF THE DIRECTORS 
to be siibraitted to the Shareholders at the fifth annual 
ordinary general meeting, to be held at the offices of 
the Company, 16, Philpot Lane. London, B.C., on 
Wednesday the 5th day of November, 1902, at 12 
noon. 
The Directors herewith beg to submit the fifth 
annual report and balance sheet for the year ending 
30th June, 1902. 
After bringing forward the unappropriated balance 
of £2,210 17s 3d from last year's account, and after 
payment of debenture interest and London charges 
(Directors' Fees, &c.), the net amount at credit of 
profit and loss account is £3,874 ISs 8d. 
An interim dividend of 3 per cent has been paid on 
the preference shares for the half-year, amounting to 
£120. And the final 3 per cent w&s paid on the pre- 
ference shares on July 1st, making 6 per cent for the 
year, amounting to £120. It is proposed to pay a divi- 
dend of 10 per cent less income tax, on the ordinary 
share capital, which will absorb £800. Thus leavinsc 
to be carried forward to next year a balance of £2,834 
13s 8d=£3,874 13s 8d, ^ 
The past year has been very trying to producers of 
high grown teas, as buyers have throughout the year 
almost entirely centred their interest upon low-mediam 
descriptions ; notwithstanding this, it has been a 
highly satisfactory one for the Company, owing to the 
fact that we have, to a very large extent, been inde- 
pendent of the London market, the bulk of our produce 
having been disposed of for export. 
Daring the past year a further £500 of the deben- 
ture debt has been paid off. This reduces the debt to 
£6,000 thus enhancing the value of the preferred and 
ordinary shares. 
The average of our tea is 8-17d as against an aver- 
age of 7"06d per lb. for all Ceylon tea during the same 
period, and our crop shows an increase of 13,139 lb. 
The cost of putting the produce, FOB, Colombo, has 
been 4 cents cheaper than last year. 
Mr Guy Owen retires in accordance with the articles 
of Association, but being eligible, offers himself for 
re-election as a Director. 
The Auditors, Messrs. Chas. B Bradlev & Go. also 
retire, but, being eligible, offer themselves for re- 
election. 
THE SOUTH TKAVANCORE TEA 
COMPANY, LIMITED. 
REPORT OF THE DIRECTORS 
to be submitted at the sixth annual ordinary general 
meeting, to be held at the offices of the Company, 16, 
Philpot Lane, London, E.G., on Tuesday, November 
11th, at 2*15 p.m. 
The Directors beg to submit herewith their sixth 
annual report and balance sheet for the year ending 
30th June, 1902. 
The outturn of tea was 269,250 lb, being 45.750 lb 
below the original estimate, against 302,329 lb last 
year. 
The average price realised was 4"82d per lb, as 
against 4'72d last year and 5'38d the year before. The 
gross profit was £599 63 Id, against £1,294 13s 4d 
last year, and s!;2,158 133 lid the year before. 
After providing £250 for the Debenture Sinking 
Fund and writing off £250 for Depreciation of Machi- 
nery, there is shown a loss of £6.32 53 2d, which after 
deducting the credit balance of £574 17s 7d carried 
forward from last year, leaves a debit balance of 
£57 73 7d, 
Daring the past year the tea industry has continued 
to suffer from the low prices alluded to last year. Mr 
Stewart, the Manager, has just returned to the estate 
after a visit to England for his health. He has 
relieved Mr Cook, who was acting for bim during 
his absence. 
Shortness of labour, owing to the consbruction of 
the new railway, resulted in a very heavy reduction in 
the crop, which was 33,179 lb below the, low crop of 
the previous year. 
This is a most disappointing result, and the Direc- 
tors can only hope that Mr Stewart will be able to 
