May 1, 1903.] THE TROPICAL AGRICULTURIST. 740. 
THE RAYIGAM COMPANY, LIMITED. 
REPORT OF THE DIRECTORS. 
DiKECTOES : — The Hon. Mr. Edward Rosling, Messrs. 
Albert Rosling, Gordon Frazer, FMMackwood. 
ACREAGE : 
Rayigana. 
Tea in bearing .. .. 628 acres. 
,, partial bearing . . .. 68 ,, 
Rubber not in bearing . . 20 „ 
Forest .. .. .. 484 „ 
Tea in bearing 
Forest 
Grass 
Total 
A nnandale. 
Total 
1,200 acres. 
250 acres, 
8 „ 
38_., 
296 acres. 
The Directors herewith snbmit their Report and 
Balance Sheet for 1902. After writing of R4,000-U0 
for depreciation on buildings and Machinery there 
remains at credit of Profit and Loss Account R15,046 01, 
Out of this the Directors propose to pay a divided of 
2^ per cent absorbing R15,000 0, carrying forward a 
balnnce of R46 01. The crop of Tea from Rayigam 
was 296,725 lb as against 294,110 lb ia the previous 
year, and from Annandale 90,606 lb as against 85,9291b. 
In the case of Rayigam approximately about one- 
third of crop 99,355 lb. was made into Green Teas 
which netted 34'02 cts. per lb exclusive of the Cess 
bonus. The Black Teas netted 29 56 cts. and on An- 
nandale 41'85 cts. per lb. A contract has been made 
disposing of the first six months' crop of Green Teas 
from Rayigam Estate for 1903. The estimate of crop 
for the current year for Rayigam is 300,000 lb and for 
Annandale 100,000 lb. 
Para Rubber. — About 20 acres were planted with 
Para Rubber during 1902. This, with what is already 
planted in ravines and through the Tea, gives an 
equivalent of 50 acres varying up to 10 years old. 
It is proposed to phnt up about 20 acres annually. 
Mr. Albei't Rosling retires from the Board of Direc- 
tors by rotation, but being eligible offers himself tor 
re election. The election of an Auditor for 1903 rests 
with the Meeting. 
PORTMORE TEA COMPANY OP CEYLON, 
LIMITED. 
ANNUAL REPORT. 
to be submitted at the sixth annual meeting held at 
24, Rood Lane, London, E. 0., on Monday 16th 
March, 
The Directors have the pleasure to submit the 
General Balance Sheet and profit and loss account 
for the year ending Slst December, 1902, duly audited. 
The net amount at credit of profit and loss after 
providing for general expenses, income tax, c&o. 
jE3,930 6d 9d. To which should be added balance 
brought forward from last year £260 53 Hd. — Total 
£4.190 12s 8d. 
An Interim Dividend of 5 por lent. was paid October 
18th, 1902, amounting £2,000. It is proposed to pay 
a final Dividend of 5 per cent, (making 10 per cent, 
in all, free o£ Income Tax) tvln ih will absorb £2,000. 
And to carry forward to ut.K^ year £190 123 8d.— 
Total £4,100 123 8d. 
In presenting their sixth auraa! report, the Direc- 
tors have pleasure in recommending a dividend of 10 
per cent, for the year ending' December 31ot, 1902. 
Tho Tea crop from Xhe Estaics has been 221,145 lb. 
being at the rate of 472 lb per acre, which is the 
amailest yet obtained, and is accounted for partly by 
the system which has been carried out of leaving a 
portion of the area nnpluoked, and partly by exces- 
sive rains iu the latter mouths of the year, which 
prevented the usual tluahings. 
The cost of production has been £4,071 los 5d, being 
at the rate of 4-42d per pound, and tho crop his 
netted £8,459 5s lOd, being 918d per pound. Tho 
average rate of exchange has bean Is 4 3 16d against 
Is 4 3-32d last year. Mr \V Herbert Anderson retires 
from the Board by rotation, and being eligible offers 
himself for re-election. 
The latest reports from the manager in Ceylon 
show that estates, buildings, and machinery are in 
good order, and the estimates of crop and expenditure 
give promise of continued good results. The direc- 
tors fee! that great credit is due to Mr R C Grant, 
the manager, and Mr H A Grigg, the superintendent 
in Ceylon, for the way in which they have cultivated 
the estates and maintained the high quality of the tea 
during the past year. 
THE TONACOMBE ESTATES COMPANY 
OF CEYLON, LIMITED. 
REPORT OF THE DIRECTORS. 
Aulhorised Capital .. .. R600,000 
Subscribed and paid up ... 280,000 
DiRECTOEs :— Hun. Mr, J N Campbell, Messrs. G 
H Alston and R S Templer. Agents and Secretaries: — 
Messrs. Cumberbatch & Co. Estate Saperinteudeut: 
— Mr V Vioaresso. 
ACREAGE. 
The acreage of Tonacomba Group is as follows ; 
Tea in bearing . , 582 acres 
Tea not in bearing , . 8 do 
Tea seed bearers ... 3 do 
693 do 
Cardamoms in bearing . . 98 do 
Reserve Forest . . 24 do 
Fuel Trees ... 20 do 
Chena and Patna , . 1,142 do 
Total . . 1877 acres 
The total quantity of tea secured for the year <vaa 
244,566 lb being 14.566 lb in excess of the estimate. This 
was sold at an average of 35'63 cents per lb. as against 
37 84 censt per lb. last year. The cost of produc- 
tion w?s 25'84 cents per lb. as against 26-50 cents in 
1901, The cardamom crop was disappointing, the 
quantity secured being only 6,308 lb. Of this 4,220 lb. 
have been sold at an average of Rl 07 per lb., and 
the balance is estimated in the accounts to realise 
75 cents per lb. In 1901 a net average of Rl-48 was 
obtained. The total expenditure amounted to 
R69,93107 and, as in the previous year, there has been 
no outlay on capital account on Touaoombe Group. 
The balance available, after providing for de- 
preciation on buildingii, and including R5,004-38 
bronght forward from last season's account, amounts 
to R28,296'51, and the Directors recommend the 
payment of a dividend for the year at the rate of 5 per 
cent on the paid up capital of the Company absorbing 
R14,000, the writing off of the balauoe standing to the 
debit of Buildings Account R5,654 06 and the carrying 
forw.ird of R8,642-45. The Directors have pleasure in 
stating that the Debenture debt has been further 
reduced by .£500 during the year. An opportunity 
arose towards the end of the year of acquiring the 
Kalugalla estate consisting of 146 acres of tea, and 
about 227 acres of patna, &a. The Directors being 
of opinion that the purchase of this estate would be 
to the advantage of the Compmy decided to acquire 
the property at a cost of R17,500. Financial arrange- 
ments necessitated the payment of the purchase money 
by the last day of Dacember, 1902, and the estate was 
taken over on the Ist January, iy03. The Coast Ad- 
vances on Tonacomba Group stan.l at R3,116'34 on 
3l3t Di'cembec, 1902, being a aliglit decrease on this 
account since the 8>ime date iu 19-1. To meet thi^ re- 
quireui :nt3 of KalugAlla the labour force on th.it estate 
was taken over, and Rl,840 70 has been advanced to 
meet their debt. The crops for 1903 are estimated at 
210,0J3 lb tei fro^u Toaaio.ube Groap ; .Mi.OJO lb toA 
