May 1, 190B.) the' tropical AGRrCttL-TlTRlsT. 
777 
THE HATTALdALLA ERTATE COMPANY, 
LlMirED. 
THIRTKKNTIl ANNUAL KKPOUT, 1902, 
The Directors are pleased to Eaport that tha year's 
working shows a better result than in 1901. The 
crop has been larger, and therefore the cost o£ pro- 
duction hTs bet u much less, and although the average 
selling price has not reached last year's level, the 
profi'. realize.! ia some £700 belter. The quantity of 
tea inanufacl.Qred k-.s bepn 254,692 ib against last 
yea(^218,531 !b. The average selling price in London 
has been 8-07d gross, against 9 343 gross in ]901 ; and 
ill Colombo 34 82 eents gross, against, 37 06 cents gross ; 
the total < rop3 aveiaged a selliog price of 7'16d gross, 
against 7 .')0d gross in 1901. London aaleB amounted 
to 119,853 lb, realizing net £3,471 Og 4d, and Colombo 
Bales 134,7551b, realizing net R45,54477. This com- 
pares with 63,282 lb, realizing £2,156 163 4d, and 
154,518 lb, realizing R55,638-87, sold in Lou- 
don and Colombo respectively. Exchange for 
Drafts has averaged 1/4 9-32 against 1/1 19-64 in 1901. 
An interim dividend of 3 per cent, was paid m 
October, the Directors, nov/ propose to pay a further 
3 per cent, free of lucoine Tax, making 6 per cent, 
fortheyeir, to ako write off £512 Is. 8il. from 
Machinery and Factory Account, and to carry for- 
ward £96 7s. 6d. to next Account. The best thanks 
of the Shareholders are dae to the Superintendent, 
Mr G C R Norman, as well as to the Colombo Asents, 
Messrs B Bcnham and Company, for valuable ser- 
vices rendered to the Company during the year. In 
accordance with the Articles of Association Mr 
Edward H Hancock retires from the Board and 
being eligible offers himself for re-election. 
50 & 51 Lime Street, London, E.O, 9th March, 1903. 
THE GREAT WESTERN TEA COMPANY OF 
CEYLON, LIMITED. 
REPORT OF THE DIRECTORS. 
Directors : — F W Bois, J Anderson, J C Dunbar- 
At a General Meeting held on 2l3t July, 1902, it 
was decided that the financial year of the Company 
should in future run from January to December, and 
in consequence the Directors have on this occasion 
to submit Report and Accounts for nine months only 
to December, 1902. The yield of Tea was 272.147 lb 
netting 44*S4 cents per lb. after estimating the value 
of 37,961 lb, which =old at a net average of 7'41 pence 
per \h but of which account sales Ii^ve not yet been 
received. The Director.? much regret the fall from 
average cf 47'37 cents last season but do not attri- 
bute it to any actual falling oft in the gnality of the 
tea. The cont per lb. was 32"13 cents inoludiug 3'20 
cents per lb. for manuring as against 29'05 cents for 
last season, and the increase may to a great extent 
be attributed to the shortage of crop which was 12-49 
per cent less than that of the same nine months in 
the preceding ye.ar, and partly to the change of the 
Company's financial year. The amount available for 
distribution is R35,2!4-24 out of which the Directors 
recommend the 
payment of a dividend of 6 per cent absorb- 
ing .. .. .. .. E 35,010-00 
and to carry forward the balance of . . R 174'24 
R 35,214-24 
The Estimate of Crop for the current season is 
430,000 lb to cost R129,355-88 equal to 30 08 cents per 
lb. including 2-54 cents for m;inuri;ig and with favour- 
able weather this should be realised The acreage of 
the Estate is : — 921 acres 2 roots 12 perches Tea ; 39 
acres 0 roots 0 perches Fuel 38 acres 2 roots 4 perches 
R«vines; 17 acres 1 root 12 perches Gra-ia Field; 11 acres 
3 rootslS perches Buildings and Garduua ; liO acres 0 
roots 14 perches Cart-road and roiiri:^ : 23 acres 2 rootn 
25 perches Railways; Total 1,(82 acicn 0 roots 0 
perches. During the year Mr. Cr F Walker left the 
Island, and Mr. P W JBois was appointed a Director 
in his place. In terms of the Articles of Association 
F W Bois retires by rotation and being eligible offers 
himself for re-election. It will be necessary to appoint 
an Auditor for season 1903. — By order of the Board 
of Directors, J M Robertson & Co., Agents & Secret- 
aries. 
r 
THE LETHENTY TEA E^TATiiS ASSO- 
CIATION, LIMITED. 
The report and balance slieet to be presented 
at the lifth ordinary general mepunij, to be held 
at the Registered Offices of the Company, Liver- 
pool House, Middlesex Street, E C, ab 1:J o'clock 
noon on Tuesdoy, the 31-sl Mai cli, 1903 : — 
The Directors beg to present tlicir Report and 
Balance Sheet for the season ending December 31st, 
1902, showi'ig a nett p'.oii.i of £4,071 16.? lOd ; to 
which has to be added balance from last year £7 43 3d. 
— Total £4,079 Is Id; which after provijing for 
Debenture Interest £2,500, and fees to Tin.-'tees for 
Debenture-holders £50— Total £2,550 ; leaves a sum 
available for Dividend of £l,5'2!i Is Id, Your Directors 
now recommend a dividend of 3 per cent for the year 
on the ordinary shares, free of Income Tax, £1,364 143; 
with Income Tax payable, £95 2s 6d, — Total 
£1,459 16s Cd. And that the balance of £69 4s 7d be 
carried over to next account 
Acreage, 1902. — Tea in full bearing, 958 acres ; tea 
five years old, 44 acres ; tea four years old, .30 acres ; 
tea under four years old, 6 acres ; forest, S.'i acres ; grass 
land, 18 acres; roads, ravines, an J ■ivj.ate lands, 61 
acres. Total, 1,202 acres 
REPORT. 
The total crop for the year 1902 amounted to 
482,079 1b. of tea, being 15,261 lb. more than was 
obtained in the previous season. 'ilii=, considering 
that the season was a very nnfavourable one for 
flushing, and that the yields of most estates were 
below those of last season, must l;e looked upon as 
satisfactory pointing as it does to our properties being 
in good heart and condition. 
The whole crop was sold on the Colombo market, 
and realised a gross average of 3'J-?>7 cents, being the 
eqaivalent of 7jd in London, a very satisfactory 
average in view of the low prices ruling last season, 
and one that reflects great credit on our estate 
management. 
The profit for the year, inolnding the balance of 
£7 4s 3d. brought forward from last account, after 
providing for debenture interest, incom? tax, and 
bonus to estate manager in Ceylon, shews a balance of 
£1.433 183 7d. 
Your Directors recommend a dividend on the ordiu 
ary shares at the rate of 3 per cent, free of income 
tax, carrying forward a balance of £69 4s lid to nest 
accoitut. 
Your Directors take thi3 opportunity of pointing 
out that the result of closing the r-3tail business hss 
fally come up to their expsctation ■, and net profit 
made this season fully justifying the action they took 
in January of last year. 
In accordance with our Articles of Associ ation, two 
of the Directors, Mr. James Skene and Mr. She Ito 
G D Scrretire from office, and, being eligible, offer 
themselves for re-election. 
The Auditors, Messrs. Carter, Son A White, offer 
themselves for re-election. 
