March 2, 1903.] THE TROPICAL AGRICULTURIST 
017 
THE NEBODA TEA COMPANY OF CEYLON, 
LIMITED. 
THli REPORT OF THE DIRECTORS FOR 1902. 
DiBECTORs : — Messrs Joseph Fraser, Chairman, and 
Kobert Marison, Director ; Solicitors to the Company : 
Messrs. PJand G de Saram : A°ents and Secretaries : 
Messrs. Somerville & Co, 
Acreage : 
Toa in full bearing 
Forest Land, &o. 
Total. 
495 acres. 
171i „ 
668 acres. 
The Directors submit report and accounts to end of 
December, 1902. 
The crop secured was 228,597 lb, an increase of 
19,550 lb over that of 1901. Gross average sal.e price 
in Colombo was 32'03 cts as against 30'34 cts in 1901. 
Cost of production, including manuring was 21 01 cts, 
without manuring 20 59 cts. 
On the 495 acres Tea the average yield per acre 
was 461 lb. It is estimated that with medium fine 
plucking 1903 will shew an increase in this yield, and 
the estimate has accordingly been put down at 
250,0001b. Daring the year Fa.ctory appliances have 
been improved by the addition of two large Sirocco 
Fans, which will, it is hoped, put and end to tha 
trouble and loss hitherto experienced in wet weather. 
Profit and Loss Account shews a credit balance on 
the year's working of R18,071-60. Out of this R2,000 
has been written off for Machinery depreciation, and 
an interim dividend of 3 per cent was paid in July last. 
The Directors now recommend the payment of a 
further 3 per cent making 6 per cent for the year, and 
the carrying forward of the balance to next year's 
account. 
In terms of the articles of Association Mr Joseph 
Fraser retires from the Board, but is eligible for 
re-election. 
The meeting will appoint an Auditor for the current 
year. 
By order of the Directors. — Sojierville & Co., 
Agents and Secretaries. 
Colombo, 30th January, 1903. 
THE 
AGKA TEA COMPANY OF 
CEYLON, LTD. 
THE TIEPOKT AND AOCOLNTS FOR 1902. 
The acreage of tho Company's property is a 
under : — 
Tea in full bearing , . . . 321 acres 
Tea in partial bearing . . 6 do 
Tea not in bearing .. 9 do 
TotalinTea .. 336 do 
Forest .. .. ... 21 do 
Grass, Waste Land, &c. .. 10 do 
Total area of estate . . 367 acres 
The estimated crop for 1902 was 200,000 lb. of 
tea, and the actual quantity realised was 197,050 lb., 
or a deficiency of 2,950 lb. This crop realised 
ESI, 532-96, equivalent to 41'38 cents per lb. as 
against 39"64 cents in 1901. The expenditure, as 
showQ in the aoconipauying accounts, was R32,626'47, 
or nearly 27 cents per lb., as against 29 cents per 
lb. in 1901. The expenditure during the past year 
includes rather over ijj cent for manure. 
After deduction o£ E4,000 for Depreciation of 
buildings and machinery, the profit on working 
account for the year amounts to R24,183'83, repre- 
senting about 6 per cent on the value of the pro- 
perty as shown in the balance sheet. 
After payments of interest on loans, viz, f?5,269'60, 
the net profit for the year amounts to Rl7,r)G4-30, 
to which has lo be added the sum of R3,652-S3 
78 
bronght forward from 1901, bringing the balance 
at credit of profit and loss account up to R21,217*18. 
During the past year the sum of it'500 has been 
paid to the Standard Life Assurance Co. in re- 
duction of the mortgage, which now stands at 
£5,500. 
In view of the fact that £1,000 has to be found 
in June next for the purpose of paying the in- 
stalment which will then be dae to the Standard 
Life Assurance Co., the Directors do not feel justi- 
fied in recommending any dividend at the present 
time. They hope, however, that in the event of 
the price of tea being maintained during the ensu- 
ing year, they may be able to recommend a small 
dividend, 12 months hence. They therefore propose 
to transfer R20,C00 to the credit of the Reserve 
Account, thus briuging the total of that Reserve 
up to R50,000, and leaving R1,217T8 to be carried 
forward to next season's accounts. 
The estimated crop for 1903 is 205,000 lb. of tea 
to be produced at 27i cents per lb., which allows 
for about the same expenditure on manuring as 
last year. 
In terms of the Articles of Association, Mr Joseph 
Fraser retires from the Board of Directors, but is 
eligible for re-election. 
The appointment of an Auditor will rest with the 
meeting 
THE PITAKANDE TEA COMPANY OF 
CEYLON, LIMITED. 
REPORT AND ACCOUNTS FOB 1902. 
Directors: — Messrs. Joseph Fraser (Chairman). 
Edward C Mitchell and Robert Morison. 
Solicitors : — Messrs. F J and G De Saram, 
ACREAGE : 
Tea in full bearing 
Tea in partial bearing ... 
Tea not in bearing 
Cocoa and Tea 
Cardamoms in bearing ... 
Do not in bearing 
Cocoa in bearing 
Fuel Trees 
Total cultivated 
Forest and Grass Land .. 
Wast Land and Buildings 
Acres. Acres. 
760 
194 
46 
1,000 
12 
44 
4 
50 
18 
1.128 
285 
■ 30 
1,441 
Total area of Estate .. 
The Directors submit their report and accounts 
for 1902. 
The tea crop secured amounted to 430,399 lb. being 
42,929 lb. more than last year. The net average 
price realised was 3515 cents, whilst the cost 
f. o. b. was 28'601 cents, including manure and 
burying prunings, or 22'180 cents exclusive of these 
items. 
The net profit for the year was R23,297'23, to 
which has to be added R2,132-22 brought forward 
from 1901. An Interim Dividend of 4 per cent 
was paid in July, and the Directors now recom- 
mend a final Dividend of 4 per cent, making 8 per 
cent for the year, and leaving balanie of R629'45 
to be carried forward to nest year. 
In terms of the Articles of Association, Mr Ed- 
ward C Mitchell retires from the Board of Direc- 
tors, but, being eligible, offers himself for re- 
election. 
The appointment of an Auditor rests with tha 
meeting. — By order of the Directors, Colombo 
Commercial Co., Ltd., 
(John G. Wabduop, Manager.) Agents & Secretaries. 
Colombo, 27th January, 1903, 
