Jan, 1, 1903.] 
THE TROPICAL 
AGRICULTURIST. 
480 
The crop for the year was 250,781 lb, as against 
229,217 lb, for the previons year, and the price re- 
alised was 5'88d against 5 01d in lyOl-02. 
The yield per acre was 415 lb, as against 382 lb tbo 
previons year. 
The rate of exchange was 1/4 11-32 compared with 
1/4 7-16 the previous year. 
Under clause No. 24 of the Articles of Association, 
Mr H K Rutherford 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- 
selevea for re-election. 
By order of the Board, 
London, Gth Dec, 1902- Wm. JOHNSTON, Secy. 
CEYLON AND INDIAN PLANTERS' 
ASSOCIATION, LIxMITED. 
DiBBCTORs. — Chailes Arthur Reiss, (Chairman) 
Thomas North Christie, Charles Frederick Dickinson' 
and John Humphery. 
Sbcretaey, — Albin B. Tomkins. 
FIFTH ANNUAL REPORT, 1901-1902. 
The Directors beg to submit their Report and the 
Audited Accounts for the year ending 30th June last. 
Tea. — The total yield has been 855,816 lb, against 
last year's 799,739 lb of made Tea, an increase of 
56,077 lb. 
The average selling price has been generally 
lower, but cost of production has been also less, 
and "hBjS more than oompenpated for the drop in 
the selling price, so that profits on Tea are £722 43 
more than the previous year. It is satisfactory to 
note that St Andrew's and the Maha Bliya Estates 
have both done better, and made fair profits, consider- 
ing the bad time through which the industry is still 
passing. 
The accounts show that after paying Debenture In- 
terest, Preference Dividend, and all fixed charges, 
there is a balance at credit of Profit and Loss Acconut 
of i'599 10s 5d. The Directors recommended that 
±500 be v/ritten ofi machinery account and the balance 
account of £99 10s 5d be carried forward to next year, 
Plumbago. — It is with some satisfaction that the 
Directors can report fair progress ; 206 tons of the 
mineral have been mined and sold during the twelve 
months. The average sale price has been R248 or 
£16 lis 4d net per ton. The market for Plumbago has 
been more favourable, and the net profit is £1,520 18a 
6d, against £1,003 6s 8d last year. 
ANALYSIS OF year's AVORKING. 
Total Acreage 
Product 
Acreage in bearing 
and partial 
Acreage planted not 
in bearing 
Cost per lb in cents 
and sterling (Manure 
c3 ^ 
" -9 
Hi a 
..1,021 305 
, . Tea Tea 
m 
760 
Tea 
W 
1,006 
Tea 
Cdms 
806 264 
21 35 
included) 
Gross average 
Sale price per lb 
Net Average Sale 
price per lb 
Prolit per Acre in 
bearing 
..25.21 27.23 
Col Col 
4.]2rf 4.46(Z 
...6.43(Z 40.95c 
..5.50(J 39,93c 
£ 8 d £ s d 
...2 9 0 3 10 3 
597 T 586 
Cdms 4 
30 T 4 
Odmsl56 
27.60 80.88 
Col Col 
4.5l(? 5.0fi(Z 
6,46£i 33.31c 
en 
3,092 
2,257 
246 
27.17 
Col 
4.41rf 
Average Yield per 
Acre made Tea 
Crop made lb 
Original Estimate 
1901 1902,1b 
Estimated Crop 
1902-19U3, lb 
Estimated Cost per 
lb Colombo 1902- 
1903, cents 
...4101b 4591b 8431b 2991b 3ft0Ib 
,354837 121107 204827 175045 855810 
342000 134000 225000 185000 886000 
346650 130000 215000 185000 876650 
30.02 27.25 30.99 
.. 25.93 
Accounts. — The Directors have decided that in 
future the Preference dividends shall not be paid before 
the end of March, and the end of September. This 
change is deemed advisable aa the crop is not entirely 
sold until the later date. 
ANALYSIS OF COST F.O.B. COLOMBO. 
a 
c3 
. 
C3 
>> 
3 
o 
c3 
c3 
a 
<! 
fa 
iMa 
w 
M 
Superintendent 
.. 2-61 
3-10 
3 03 
3-74 
Visiting Fees 
•83 
•28 
House Coolies 
-30 
•27 
•24 
•41 
Bungalows 
. . -06 
•03 
•11 
•16 
Lines 
... -18 
•08 
•23 
•33 
Factories, etc, 
... -22 
•44 
•81) 
"29 
Contingencies 
... -36 
•38 
•41 
'75 
Fire Insurance 
... -20 
•27 
•19 
•33 
Water Course 
.. -04 
•16 
•01 
Supplying 
•10 
•18 
Roads, Drains, etc. 
Weeding 
! '. -39 
•37 
•44 
•64 
.. 2'71 
235 
3 •.SO 
4'87 
Pruning 
... -77 
■911 
•81 
1^36 
Forking 
... -33 
•16 
•20 
•13 
Cost of Manure 
... 1-29 
•50 
1-85 
Application of Manure 
.. -39 
•25 
•32 
•03 
Tools 
... -09 
•10 
•13 
•07 
Stock 
.. -09 
Plucking and Baskets 
.. 9 91 
1117 
9-72 
1006 
Manufacture, Packages, 
etc. 3-20 
3-86 
328 
5^05 
Transport to Colombo 
... 1-25 
1-25 
1-51 
1-83 
Shipping Charges 
... '70 
•19 
•69 
•05 
Machinery 
.. -12 
•39 
•62 
•25 
Sundry 
•18 
•05 
•02 
Cost-in Cents per lb 
25-21 27-23 27-60 3088 
5.52d 32.29c 
£Bd fad £ ad 
110 4 027 1 14 6 
The Directors regret that the funds available are 
insufficient for the payment of a dividend on the Ordi- 
nary Shares. Regarding the future it seems probable 
that the limits of production in Indian and Ceylon Tea 
have been nearly reached, and with consumption slowly 
but ever increasing, it ia possible that prices have 
reached the lowest level, and that some recovery may 
be established before the next report is issned. Pros- 
pects also for Plumbago for the current year are not 
unfavourable, and the mineral is being steadily mined 
and sent to market. 
The Directors desire to record their thanks to Mr 
George Greig and staff in Ceylon, and also to Messrs. 
Skrine & Co., and the Colombo Agents for the atten- 
tion given to the Company's business during the year. 
By the Articles of Association, Mr Charles A Beiss 
retires from the Board, and, being eligible, offers him- 
self for re-election. 
The Auditors, Messrs. Singleton, Fabian & Co., also 
offer themselves for re-election. 
Directors. — Charles A Reiss and Charles F Dickin- 
son. Secretary. — Albin B Tomkins, 51, Lime Street, 
London, Nov. 21st, 
