.tuNE ], 1903.J THE TKOPICAL AGRlCULT^Iiia'r. 
821 
THIi STANDARD TEA COMPANY OF 
CEVLON, LIM[rED. 
TWRLFTIl REPORT OK TUG DIRECTORS TO THE 
SHAREHOLDERS 
to be sabmitted at the General Meeting, to be held 
on Wednesday, 22ad April, 1903, at noon, at the Offices 
of the Company. 
The Directors submit Stitement of Accounts to 31at 
December, 1902. Trie Profit and Loss Account shows 
a profit on the working of the Estates in Caylju of 
.£12,143 13s 8d, which with the amount brought forward 
from last ye^ir, less interest and home charges, shows 
a sum of €11,634 2^ 51 available for division. In 
August. 1902, the Directors, under the powers entrusted 
to them, distributed an interim dividend for the six 
months ending 30th June, 1902, of 5 per cent (10 per 
cent par annum), absorbing £3,975. They now recom- 
mend a Dividend at the rate of 10 per cent, ^i^ iking 
15 per cent, for the year) absorbing £5,9.50, the placing 
£500 against reserve and £1,001) against depreciation ; 
and the carrying forward to the next year £1,209 2s 
5d. The Coffee crop was 61 cwt. ; it realised about 
£70. The Tea crop waa 1,183,972 lb, against l,l0.5,99Slb. 
in 1901. 
The Export Tax, called " Tea Cess," cost the 
Company R3,0i)0, or £200, calculated on th 3 fiist half 
of the crop at 20 cents par lOl) ib, and on the latter 
halt at 30 cents, to which it was raised in June, The 
average Exchange for the Comp.\,ny as drawers in 
Colombo waa Is 4 3-16th d, ngainst Is 4 5-32nd3 d. in 
1901, andls 4 7-32uds d in 1900. Price for Ceylon T^as 
were generally about the same as last season. Of 
the Company's Teas produced during 1902 : those from 
tbe Sc. Leonard's factory sold at about gd per lb. lo»ver 
price than 1901 Teas ; those from Gordon, jd per lb 
higher ; those from GoaraviUa, at ab:)ut jd per lb 
higher. The Uda Pusselawa R viUvay passing through 
Bskdale and Liddesdale, the Company received during 
the year £399 13s 9d for laud tak^;n. The amount 
has been credited in reduction of the co.=!t of the 
estitea. The Company's Pioperties at the close of 
190i were 3,466 acres, with 2,183 aires of Tea con- 
sidered in full bearing, viz, : — 
in UdaPusselawa — St Leonards 
Coneygar 902 acres. 530 acres Tea bearing 
Liddesdale 814 „ 2C0 
Eskdale 240 „ 227 
Gordon 386 „ 304 
TuUoes 419 „ 275 
in Up. Maskeliya— Gouroviila 
and Up. Cruden 705 ,, 652 ,, ,, 
There are also 296 acres 'l?ea in partial bearing, and 
some 25acr£8 in additionplanted with Tea. Mr. VViUiam 
BoUo, tlio Director who retires by rotation, being 
eligible, offers himself for re-election. By Order, 
A. Teaffoed Brooke, Secretary. 
25, Fenchurch Street, London, 8 April, 1903. 
BANDARAPOLA CEYLON (JOx\lPANY, 
LfMITED. 
Report of the Board of Directors to be presented 
to the Shareholders at their Tenth Annual Ordinary 
i^eeting, to be hold at the Office of the Company, 10, 
Philpot Land, London, E.C., on Tuesday, 28th April, 
1903, at 12 o'clock, noon. 
'The Directors have ploa3ur6 in submitting to the 
Shareholders the Balance Sheet, Estate Working Ac- 
count, and Profit and Loss Account for the year to 
3l3t December, 1902, duly certified by the Auditor. 
After providing for Interest on Debontures and ail 
other charges, there remains a net profit of 
£2,046 123 lid, to which has to be added £315 6.^ lid 
bronght forward from last accounts, t;iviii,j a 
total of £2 391 19.i lOd, and tliis the Directors propos ^ 
to deal with in tho f. Uowing manner:— To p.iy a 
Dividend for the year of G per cent (free of Inconi] 
las) £1,260, 10 write off estate account £500, to 
104 
write off building and machinery accout— 10 per cent 
on £4,739— £473 18s. to carry forward to next acooun'i 
£15,S Is lOJ. -Total £2,391 19.s lOJ. --unn.s 
The crops secured for the year amounted to 
3'19,185 lb. Tea (Including 19,161 lb. from purcha->od leaf) 
and 372 cwt 2 qrs 241b. cocoa, against 468901 1b Tea' 
303 cwt Oqra 18 lb cocoa, during the previous season ■ 
the average yield of Tea per acre being 626 lb, as 
compared with 575 lb in 1901. The average prices 
realised for the Company's Tea sh€w a slight fallin" 
off as compared with the previous yi;ar, being 6d per 
lb in Loudon, and aboui, 29i cents in o'olornbo, 
against ti^d and 33 cents respectively ; but aniiicreaaed 
income has been rlerived from Coco.i, of which the crop 
exceeded the Mmager','! estimate by over 72 cwt. Tho 
rate of exchange for th.? year averaged 1/1 19-04thi 
per rupeo. At tho request of thti Board, tho JIanager 
has recently gone very carefully through all the 
Comp.iiiy'.'? Title Deeds, d'c, and he reports that the 
Company's holdings now amount to a total of 1,760 
acres, of which 1,654 are Freehold, and lOS Leasehold. 
The following statement gives particulars of the 
acreage as fully and accurately as possible : — Tea in 
full bearing 782 acres, tea in p vrtial bearing 6 acres, 
cocoa in bearing 224 acres, cultivated are ^ ],u 12 acres' 
grass, ravines, A 12 acres, reserve, jungle', &c. 736 
acres. — Total Acreage 1,760 acres. ' 
The Reports from tho Visiting Agent, iVlr. Joseph 
Fra3er, continue to be of a very satisfactory character. 
In his laTt Report he writes as follows :—" The Tea' 
in all three divisions looks vigorous and healthy. 
There is a remarkable absence of insect and fnnnoid 
pests; in fact, I may safely say I have never seeu"the 
Tea, on this estate, all over, looking b -tter or more 
promising than it does at present." The Board con- 
sider this reflects great credit on Mr. Andsrsou'.N 
management of the property. Or the Dejenture issue 
£2,500 matured for payment on Ist January, 1903* 
and this amount was renewed f or three yeirs a t the 
former rate of interest — five per cent per annum, In 
accorJauce with the Articles of Associati-on Mv 
George G. A.nderson retires from tho Board at this 
time, and, being eligible, offers himself for re election. 
Mr. John Dalgleish, G.A., also offers him-ielf for re- 
election as Auditor. G. W. P.\ine, Chiiirm in, 
16, Philpot Lane, London, E-C, 8th April. 
HIGHLAND TEA CO., OF CEYLON, LTD. 
Report of the Board of Directors, to be presented 
to the Shareholders at their Seventh Annual Ordinary 
Meeting, to be held at the Office of the Comoany 
10, Philpot Lane, London, B.C., on CJonday, 27ch \Drir 
1903, at 2-30 p.m. ' ^ ' 
The Directors have pleasure in submitting to the 
Shareholders the Balance-sheet, Estates Working 
Account, and Profit and Loss Account for the year 
to 3l8t December, 1902, duly certified by the Auditors. 
The net profit for the year imounts to £1,893 I3 jj' 
to which has to be added .474 i3s 9d brought forward 
from last accounts, giving a total of £1,972 I5s Id 
and this the Directors propose to deal with as follows '• 
— An Interim Divideml paid on 30th September, 1902* 
at 2 per cent (tuee of Income T.ixi, amounted to £t>4u' 
it is uoiv proposed to pay a Final Dividi-n 1 of 3 percent 
(free of Income Tax) m king 5 per cent for tho y^ar 
£960 ; to write off Estates Account £250, aud to carry 
forward to next Accoaats £122 ISs Id — Total £! 972 
153 Id. ' 
The above profits shew an increase of £398 173 lOd 
over the figures for 1901, and. but for the unfavourable 
weather experienced in Ceylon during the c!o?iur' 
mouths of the year, the expansion would probably 
hftvo been considerably n\ ire. Tho crops secuied from 
the Company's properties amounted to 241,i)13 lb, or 
413 1b per acre of Tea in hearing, agaiast 211,181 lb 
for the previous se ison, and tho prices realised 
averaged 7.t,i per lb for the Tea sold in Landou and 
42 cents per lb for the sal-33 in Colombo against 7i 1 
per lb and 45 cants po.r lb r.\-peclival3' for Ihe l!)Jl 
crop. The reports fiOin both Cbrvsilor'a Farm a id 
