^82 
THE TEOPlCAL 
AGRICULTURIST. 
[May 1, 1903. 
The followiag are details of the acreage of the 
diSerent properties as on 1st January, 1903 :— 
Acreage rNCKR Tea. k 
Estate. 
.9 
^ OS 
q3 o 
Polatagama ... 791 
Weoya and New 
Polatagama ... 632 95 
Walpola ... 871 ... 
Rondura .. 581 20 
.. .50 841 201 1,042 
727 345 1,072 
871 145 1,016 
601 629 1,230 
2,875 115 50 3,040 1,320 4,360 
The condition of the Company's Estate continues 
satisfactory, and the Directors desire to record their 
high appreciation of the management and general 
working of the properties. In terms of the Articles 
of Association, Mr. C Young retires from the Board, 
and being eligible, offers himself for re-election. 
Messrs. Cape & Dalgleish, C.A., offer themselves for 
re-election as Auditors of the Company. By order of 
the Board. T. A. Williams, Secretary. 
27, Mincing Lane, London, E.G., liarch 30th 1903. 
BALMORAL (CEYLON ESTAPES) COMPANY, 
LIMITED. 
Repobt. — To be presented at the Fifth Annual 
General Meeting of the Balmoral (Geylon) Estates 
Company, Limited, to ba held at the Offices of the 
Company, 12, Penohurch Street, B.C., on Thursday, 
9th April, at 11-30 a.m. 
The Directors have the pleasure to submit the 
Balance Sheet and Accounts of the Company for 
the year ending 31st December, 1902, duly audited. 
The total yield of tea was 540,057 lb., against 
595,197 ib. last year, being at the rate of 581 lb. 
per acre all round ; the cost of production, exclusive 
of Capital Expenditure, vtna 26 cents per lb. , free 
on board at Colombo, and the gross average price 
obtained was 9 22d. per lb. against 8"53d. per lb. 
last year— Sandringham Teas averaging 8'84d- and 
Clydesdale 9 Old. per lb. Exohauge has averaged 
throughout the year' Is. 4 7-32d. against Is. 4 3-16d. 
last year. 
All Capital Expenditure has been charged against 
Revenue, and in view of this the D ractors do not 
consider it necessary to set aside a specific sum 
for depreciation. 
The Net Profit for the year amounts to £7,451 
18s. 4d. ; and the balance from last year to £675 lOs. 
6d., making a total of £8,127 8s, 10. 
The Directors have already paid out of this, Divi- 
dends on the G per cent Preference Shares for the 
year ending 31st December. 1902, 'iEl, 800. ; Interim 
Dividend on the ordinary Shares of 5 per cent free of 
Income Tax £2,601 15s. ; Income Tax £357 lis 
7d. ; and it is proposed to pay a Dividend of 5 per 
cent free of Income Tax on the Ordinary Shares, 
making 10 per cent for the year £2601 15s, ; and to 
carry forward the balance of £766, 7s. 3d. — Total 
i;8,127 8s, iOd. 
The Auditor, Mr. J. Hamilton Alston, offers him- 
self for re-election. By order of the Board, 0. 
Bois, Joint Secretary. 
London, 31st March. 1903. 
SCHEDULE OF THE COMPANY'S ESTATES, TEA, 
ti -a 6£ a M _ 
_H .2o .Hn mo) ~ 
^« OPM^ H 
Sandringham and 
Yarravale 527 .33 26 160 626 
Balmoral and Clydes- 
dale ' 402 — 4 12 543 
Acres. 929 37 31 172 1,169 
THE CRAIGHEAD TEACOMPANY. 
REPORT. 
The Directors have the pleasure to submit the 
balance sheet and accounts of the Company for the 
year ending 31st December, 1902. duly audited. 
Ihe mortgage was reduced to £2,700 by the pay- 
ment of the third instalment of £450 on the Slst Dec- 
ember last. This sum is debited to profit and loss 
account, and is an ample charge for depreciation. 
Ihe total yield, excluding some 20,000 lb made from 
purcbased leaf, was 428,091 lb tea which cost 25i cent?. 
1) O B Colombo, and the gross average price obtained 
in Loudon was 6 66d per lb. The crop of the previous 
year was 481,265 lb tea, and the gross average was 
6"67d. per lb. 
The net profit for the year amounted to £2,580 L8t. 
And the balance from the previous year to £670 11« 
Id Total £3,521 9s Id. ' 
Interest on the mortgage has been paid £157 10s. 
Ihe fourth instalment of the mortgage (£4 500) has 
been paicl £450. Dividend on the six per cent, pre- 
terence shares for the year has been paid ^481 le^" 
An interim di^ddend of 2J per cent, on the ordinary 
shares, tree of mcome tax has been piid £572 ISa 
Income tax £104 9s 2d. It is proposed-To pay a final 
dividend of 3J per cent free of income tax, on the 
ordinary shares, which will require £801 173. And to 
iYri^i^'Jf^^'? balance of £683 Is lid. Total 
io, Jol ys la. 
The Directors desire to place on record their ap- 
preciation of the efficient management of the estates 
by Mr. Ernest Hamilton and his staff. 
Mr. George Alston, the Director who retires on this 
occasion, being eligible, offers himself for re-election. 
Ihe approximate acreages are as follows as per 
recent survey: — 
Tea.— in bearing _ _ . . . . 834 acres. 
In partial bearing 
,1 Not in bearing 
Ravines and Waste 
Timber Clearings 
Jungle and Patana 
53 
9 
62 
53 
31 
1.042 acres. 
CEYLON PLANTERS' RUBBER SYNDICATE. 
Rl40 00o"'^'^ R250.000. Called up Cipita 
DiRECTOKs:-W P Halliley, A HDunsmure. E Ham- 
ilton. Secretary :-J E B Baillie Hamilton. 
ACBEAGE. 
j^^^fj^ci'sase of the Syndicate property ia as fol- 
Opened Land . . 644 Aores 
Reserve . . 240 
Toral 
834 Aeres 
At 31st December, 1902, 644 acres were eleared 
which ; — 
350 Aeres were in Rubber under 2 vears 
85 „ „ „ 1 .. 
9 II „ Coconuts 
200 ,, „ cleared and 60 planted with 
Coffee. 
Mr. L T Boustead visited the Syndicates Estate on 
11 and 12th March and reports that all the older 
fields show a good even growth fully up to the aver- 
age of other Estates and a fair percentage of trees 
have started to branch out and stems to thicken. 
The 60 acres of Coffee planted looks very well 
about 4 per cent of vacancies only, and the Superin- 
tendent is confident of finishing the remaining 140 
acres by the end of April. 
