780 THE TEOMCAL AGfelCULTtJIilST. [May 1, 1903. 
The Directors have already 
paid out of thia an Interim 
Dividend of Ig per cent, 
free of Incomo Tax 
Income Tax 
And it is proposed : — 
To pay a fiual Dividend of 3| 
percent free of Income Tax 
making 5 per cent for the 
year 
And to carry, forward 
270 0 0 
64 5 II 
630 0 0 
139 5 10 
£1,093 11 9 
Mr Walter Crosa-Bnohanan, the retiring Director, 
offers himself for re-election. The Auditor, Mr J 
Hamilton Alston, also offers himself for re election. 
By Order of the Board,— Bobektson Boi3 & Co., 
Agents and Secretaries. 
London, March 25. 
The acreage of the Estates is as follows : — 
Acres. 
Tea in bearing 
Tea planted in 1897 
Do do 1898 
Do do 1899 
Do do 1901 
Jungle, Timber 
Waste, &c. 
740 
10 
28 
4 
18 
168 
Total 968 
THE FUNDULOYA TEA COMPANY OF 
CEYLON, LTD. 
REPORT 
to be presented at the Sixth Ordinary Annual 
General Meeting of the Company to be held at the 
Office of the Company, on Wednesday, the 8th 
April, 1S03, at 12-30 p.m. 
1. The Directors now submit their Report for 
the year ending the 31st December, 1902, together 
with the balance sheet and accounts of the Com- 
pany made up to that date, and duly audited. 
2. The crop amounted to 749,415 lb., of which 
the old tea contributed 734,445 lb., being the largest 
crop it has ever given, and the new clearings 15,000 lb. 
The net average price obtained was practically the 
same as in the previous year, but the cost of pro- 
duction per lb. was considerably less as shown in 
paragraph 4, and the Directors desire to record 
their appreciation of the successful efforts of the 
Ceylon management in this direction. 
3. Since the end of 1902 the statistical position 
of the tea market generally has considerably im- 
proved, and the outlook for producers is more 
promising than for some time past. 
4. The following statement gives details which 
may be of interest : — 
£1 
•— • GO . 
1902 
1901 
1900 
1899 
1898 
1897 
acres, 
1,800 
1,777 
1,640 
1,G«) 
1,610 
1,610 
lb. 
749-445 
692-579 
697,359 
644,565 
627,886 
623-609 
H 
lb. 
416 
390 
425 
393 
383 
380 
go 
o 
d. 
4- 87 
5- 29 
4-86 
4- 81 
5 - 29 
5-22 
o s 
CD 
a-" 
ra <o 
■ is M 
> a 
5S 
C5 < 
d. s. d. per ct. 
8-45 I 4| 5 
8-37 1 4 3-16 4 
8- 68 1 4 17 64 6 
9- 28 1 4 9-32 6 
9-27 1 4 3-16 6 
9-52 13-1 6 
5. The profit for the year amounted to £7,872 6d, 
to which has to be added interest £98 19s 8d, and the 
balance from last yeoa- of £318 15s— Making a total of 
£8,289 15s 2d. 
The Directors have already paid out of this, in- 
terest for the year upon the mortgage, less In. 
come Tax .£225 5s, dividend for the year upon the 
6 per cent Preference Shares, less Income Tax 
£1,858 63 3d, Income Tax £430 83 lOd. And they 
propose to deal with the balance as follows : — To 
pay a dividend of 5 per cent free of Income Tax, 
on the Ordinary Shares, requiring £3,300, to transfer 
to Reserve for Depreciation and General Purposes 
(increasing this accoiint to £9,000) £2,250, and to 
carry forward the balance of £225 ISs Id — Total 
£8,289 15s 2d. 
6. The Director retiring on this occasion is Mr 
Frederick Henry Christian, who being eligible offers 
himself for re-election. 
7. Messrs. Winney, Smith and Winney, who were 
appointed Auditors, in the place of Mr John Smith 
retired, offer themselves for re-election. — By order of 
the Board, Robertson Bois & Co., 
Agents and Secretaries. 
12, Penchuich Street, Londou, E.G., 28tli 
March, 1903. 
SCHEDULE OF THE COMPANY'S ESTATES, ON THE 
31st DECEMBER, 1902. 
Estate. 
<D Pi 
609 
Sheen 
Punduloya 485 
Wootton 306 
Deeside 400 
Total 1,800 
Total. 
52 895 aorea 
95 634 do 
25 3 78 do 
26 436 do 
198 2,343acrea 
THE AUGUSTA TEA ESTATES COIVIPANY. 
LIMITED, 
Directors :— IVlessrs. Charles A Rsiss, (Chairman). 
Edward H Hancock, Hamilton A Hancock, Thomas 
J Lawrance, Henry Will (Managing Director in Cey. 
Ion). Secretary. — Albin B Tomkins, 
SIXTH ANNUAL BEPORT. 
The Directors beg to submit their Report and Audi- 
ted Accounts for the year ending the 31st December, 
1902. The quantity of tea manufactured has been 
134,747 lb. which has sold at an average price of 5'95a 
per lb. gross, the cost of production for the same, 
works out at 24-90 cents., or equivalent to 4id per lb 
in London. The average rate of Exchange nas been 
l3 4 1I-32d. The Profit on Working Account is £589 
18s 5d and with the balance of £62 133 7d from last 
year brought forward, the amount at credit of Profit 
and Loss Account is £652 123 Od, 
Debenture Interest, Preference Dividend and all 
fixed charges have been paid, and the Directors pro- 
pose to write off £100 from Machinery Account and 
to carry forward £41 4s 3d to the credit of the new 
season. 
By the Articles of Association, Mr. Hamilton A 
Hancock retires from the Board, and, being eligible 
offers himself for re-eleotion. The Auditors, Messrs. 
Singleton, Fabian & Co., alo offer themaelvea for re- 
eleotion. 
Mesarfi. Charles A Reiss, Thomas J Lawrftnce, 
Directors. Mr. Albin B 'flomkins. Secretary, 
23rd March 1903. 
