Dec. 1, 1902.1 THE TROPICAL AGRICULTURIST. 
423 
ACREAGE OF ESTATES. 
»ET PROCEEDS OF CROP. 
Tea. 
ti I 
d c 
<D c 
Eiverside 
Glenloch 
O 
...290 
...178| 
O O 
0 
Karagastalawa 178 
Wewesse ...449 
61 
151 
I 10 
c9 
82 
70 
151 
a o 
12 — 
55i — 
58 14 
3 50 
y 
390 
316 
392 
804 
1,095| 212 1 10 391 1281 64 1,902 
Crop. 
Expendi- 
ture on 
Pro- 
dnctioD, 
(N - . 
O £, (N 
TS tlDco 
•-I a 
C08t of 
Pro- 
duction. 
Average 
Net Price 
in 
London. 
< 
S S S 3 « 
River- lb. lb. £ a. d. d. d. d. d. d 
Bide 143416 137423 2210 11 1 3-69 3-89 4-86 4-51 494 
Glen- 
loch 72519 64839 1370 3 6 4*53 5-46 ) ( 406 
Eara- 
fa*wtt*' 61021 '63995 1330 19 8 5'23 6'3lJ (.342 
Wewes- 
se 112330 98000 2595 16 5 5-54 5*68 5*71 5'67 250 
5 -46 \ i 4 
15-35 5'84.| 
5'3lJ (l 
* Including 7,000 lb. made from bought leaf. 
1,726,241 lb Tea at an 
average net price about 
5id. per lb realized 39,651 
Cocoa, Cardaraoma Cin- 
chona Bark & Cinnamon 1,660 18 
Surplus on estimated value 
of Produce brought for- 
v»-d from 1900-01 17 9 
Interest on Account 176 1 
THE CONSOLIDATED ESTATES CO., LTD. 
Authorised capital £100,000 
Divided into 5,000 preferred shares 
of ifc'lO each entitled to a cumula- 
tive preferential dividend of 8 per 
cent £50,000 
6,000 ordinary ahares of £10 each 50,000 
£100,000 
Eleventh annnal report of the General Managers, 
to be submitted to the shareholders at the general 
meeting, to be held at 34, Great St. Helens, E.G., on 
"Wednesday, the fifteenth October, 1902, at 11-30 a.m. 
The General Managers have the pleasure to submit 
their Eleventh Annual Report, and. Balance Sheet, to- 
gether with Statement of Accounts for the Crop Year 
ending 30th June, 1902. 
The Profit and Loss Account shows a balance ('in- 
cluding £1.081 2a 9d b rought forward from last year) 
of £6,777 8s 5d, after paying Interest on the Debentures, 
and an Interim Dividend of 4 per cent on the Preferred 
Shares, 
Out of this sum the General Managers propose — 
To pay a Balance Dividend of 4 per cent on 
the Preferred Shares, making 8 per cent for 
the whole year, which will absorb . .£1,560 0 0 
•To set aside for redemption of five per cent 
of the Debentures at 103 ... 2,575 0 0 
To pay a Dividend of 4 per cent on the 
Ordinary Shares ... 1.560 0 0 
To place to Reserve Fund ... 500 0 0 
Carrying forward the Balance, viz : — ... 582 8 5 
£6-,777, 8 5 
* By the Articles of Association it is provided that 
no Dividend can be paid ou the Ordinary Shares in any 
one year unless five per cent of the Debentures have 
been redeemed for that year. 
The following shows the result of the year's working 
d. £ 
1 3 
41,705 10 2 
EXPENDITURE ON ESTATES. 
Messrs George 
Steuart & 
Co.'s draft 
— R454,547 
at an average 
of 1/4 23-64 
per rupee £30,986 
Less Balance 
of Coast 
Advances 323 
7 4 
5 e 
Bonus to Super- 
intendents 
— R5,500 @ 
1/4 1-32 3367 
30,663 2 2 
7 8 
31,030 9 10 
Profit on Crop Account £10,675 0 4 
The General Managers are glad to be able to in- 
form the Shareholders that the anticipations expressed 
in the last Annual Report have to a great extent 
been verified, with the result that the past 
season's operations have been much more favourable 
than those of the proceeding year. 
During the first six months of the past season, the 
weather in Ceylon was not favourable for the growth 
of tea, and at one time the falling ofi in the crops 
harvested, as compared with the previous year to the 
same date, amounted to nearly 150,000 lb ; but, on 
the other hand, owing to short supplies and improved 
quality of the tea, the average price realised w&s 
much better. During the second six months of the 
season, hoTvever, these conditions were precisely re- 
versed ; the weather was very suitable for the flushing 
of tea, and the deficiency of crop was to a great extent 
recovered, but prices were poor. The net result of 
the yenr's operations has been to produce a crop of 
1,726,2411b tea, against 1,787,560 last year, at a cost 
4 16 per lb, against 4"35d, while the price realised for 
the tsa averaged 5Jd per lb net against 5 5-16d for the 
previous season. 
Exchange during the past season has averaged la 
23-64d for drafts at three months' sight, which corre- 
sponds exactly with that of last year. 
The amount realised for products other than tea has 
been much larger than usual, owing to the exceptional 
quantity of cinchona bark harvested. This bark re- 
alised £1,127 13s 7d, whereas last year the netproceeda 
amounted only to £299 8s lid. The General Managers 
being of opinion that this product can hardly ba 
treated as pure revenue, seeing that each time a tree 
is barked brings it nearer to final extinction, havs 
decided to carry £500 of the above proceeds to credit 
of the Reserve Fund. Young trees are coming on to 
take the place of those that die out or have to ba 
removed, but it takes some years for them to reach 
the productive stage. 
The other extraneous products have realised about 
the amount estimated, and are all doing well. 
No new properties have been acquired since the date 
of the last annnal report, and the total acreage of 
the Company's estates remains unaltered, viz., 5,484 
acres. But in accordance with the promise made ia 
last year's report a caiefal mvey has been made 91 
