^UNE 1, 1903.] TtiE TROPICAL AGRICULTURIST. 
837 
GENERAL CEYLON TEA ESTATES, LTD. 
Directors. — James Siuclair, Chaiiman; Keith F 
Arbuthiiot, T J Lawraace, and T 0 Owen. 
The Directors beg to submit herewitli the accounts 
of the Oompauy and their report for the year ending 
December 31st, 1902, shovviuK a profit of £9,553, 83 9d, 
After allowance for debenture interests and other 
charges, there remains a snm of £1,21-1 2^ 2d at the 
credit of profit and loss, to which has been added a 
bilance of £2,210 193 lOd brought forward from the 
previous year, making a total of £3,425 23, out of 
which the directors have written off a sum of £2,000 
on account of depreciation of iilant and machinery, 
and propose to carry forwird the balance of £1,425 2i 
The crops from the Company's estates amounted 
to 2,318,881 lb tea, exclusive of bought leaf (116.011 
lb), 2,314 bushels of coffeo. and 262 cwt. of ooooa : 
against estimates of 2,581,190 lb, tea, 2,530 bushels 
of coffee, 250 cwt. of cocoa. 
The tea coat, sold in Jiondon, 5 21d, and realised 
6'Ood per lb. The exchange for the year averaged 
Is 4 i7-a4th d. 
The yield per acre was 4.30 lb. over the fields iu full 
bearing, after allowing 200 lb. per acre for the partial 
bearing fields. 
The present cultivated area is as follows : — 
Acres. 
Tea in bearing ., 5,298 
Tea in partial bearing . . 179 
Not in bearing . . 167 
Ooooa . . . , 149 
Coffee .. .. 68 
Total cultivated area 5,861 
• The past year was one of very severe depression in 
prices, which during the summer, touched the lowest 
point ever experienced. The Estimated tea crop, 
owing to labour difficulties and very unseasonable 
weather during the last three months, fell short of 
the estimate by 262,309 lb. Since January last, how- 
ever, a marked change for the better has come over 
the tea market, owing to the favourable statistical 
position of the article, and there seems every reason 
to believe that the industry has again entered upon 
a period of prosperity. 
A new factory had to be erected upon Hemingford 
estate, at a cost of £2,115 7s 5d, to replace the old 
building, which was reported as dangerous. This and 
other expenditure has been charged against revenue, 
and makes the cost of production appear high. Eli- 
minating these charges, the cost of the Company's 
teas sold iu London was 4'9Sd. 
Mr. Keith F Arbnthnot, the Director, retiring by 
rotation, being eligible, offers himself for re-election. 
CEYLON TEA 
PLANTATIONS 
LIi\[lTED, 
COMPANY, 
BBPORT OF THE DIRECTORS 
to be submitted at the Sixteenth Annual Ordinary 
General Meeting of Shareholders, to be held at 
the Office of the Company, on Monday 27th April, 1903. 
The Directors have the pleasure to submit the 
General Balance Sheet and Profit and Loss Account 
for the year ending 31st December, 1902, duly audited, 
The net amount at credit of Profit and 
Loss Account, including Balance 
brought forward at 31st December, 
1901, and after providing for General 
Expenses, Directors' Fees, Income £ s d 
Ta.x, Ac. is ... ... 46,554 16 9 
Dividends the on 7 per cent Preference Shares were 
paid for 1902 (less Income Tax) amouting to £5,320 Is 
2d ; an Interim Dividend of 7 per cent on the 
Ordinary Shares was paid 29th October, 1902, amounting 
to .£11,716 12g ; it is proposed to pay a final Dividend 
of 8 per cout on the Ordinary Shaves making 15 per 
cent in all, free of Income Tax, wl.ich will absorb 
£13,390 83; to write off for DepreoiiUion i' 10,000 ; 
106 
and to carry forward to next yearaBalanca of £6 126 
193 7d— Total £46,5.54 16s 9d. ' 
If. IS with pleasure the Directors are in a position 
CO report that the year's working enables them for 
tne sixteenth year again to recommend the usual 
mvidend of la per cent., free of income tax, to the 
Ordinary Shareholders. 
During the past year the average prioe of British 
grown tea showed no improvement on that of 1901 
but owing to diminished supplies and a steadily 
increasing consumption, prices have now materially 
inipL-oved. The excessive rainfall and sunless .veather 
which prevailed during ths last six months of the 
year effec^ted the yield of tea on the Coaipauv'a 
estates, which was 71,5' 4 lb. short of the previous 
years output. The following shows the quantity 
ot te.'i ar^oounted for in the profit and loss statemsnc •-- 
E-)tate tea lb. 3,885,821. Bought leaf tea ib. 369,683 
lea manufactured for others lb. 304,477. Total lb' 
■i.^MfiSh The average gross price for the tea sold 
in ijoudon and elsewhere, including bought leaf was 
7-24d., compared with 7-41d the previous vear,' and 
the rate of exchange 1/4 15-64d, the sam'e as last 
.■....^n''"'^. ''^^ Company manufactured 
013,489 lb. of green tea for the American and 
Canadian markets, as comp.ired with 78,278 lb. in 1901 
The coconut crop was a favourable one, and 
amounted to 1,740,968 nuts, or 339,200 nuts in excess of 
the previous year. The Company has become interested 
m a patent process for treating the kernel of the 
coconut, and the necessary machinery is now being 
installed on one o£ their estates. From this new 
mode of manufacture the Directors have good reason 
to hope for remunerative results. 
Progress has been made in the further plantincr 
out oE Para Rubber, which will be continued durinS 
the current year on any of the Companv's lanS 
considered suitable for this product. 
The Board has again to acknowledge the good 
services rendered by the Ceylon Manager and his 
btall during the past year. Under Clause No. 69 of 
the Articles of Association, Mr David Reid retires on 
this occasion from the Board, and being eligible 
offers himself for re-election. The Auditors, Messrs 
Harper Brothers, Chartered Accountants, also i-etira 
trom office, and offer themselves for re-election.— 
l^y Order of the Board, Wm. Johnston, Secretarv 
London, April 18. > j- 
ACREAOES OF TEA ESTATES AT 31ST DEC. 1902, 
Marciawatte Gampola 
Atgalla do 
Dunedin Kel. Valley 
Dewalakande do 
Sembawatte Yackdessa 
Mudamaua 
Ingoya 
Waltaha 
Tillyrie 
Kel.V alley 
do 
Dimbnla 
Bogawan- 
talawa 
N. Eliya 
Mvskeliya 
Dimbula 
do 
.Q CI 
o 
a 
.3 rH 
C3 
(U 
H 
458 
450 
474 
552 
1.50 
391 
522 
247 
-a .5 
a 
c3 ; 
a 
EH 
a o 
a 
H 
101 
50 
— — 58 — 
— — 92 — 
— — 274 251 
— — 83 — 
— 34 283 - 
— — 23 
4 — 
9 * 
23 
27 
Scrubs 
Alton 
Tangakelly 
AVaverley 
East Holyrood do 
Rosila & Lochiel do 
West Holyrood do 
Yoxford do 
Glc'ulyon and 
Polmont do 
Pitaratmalie Hapnttilj 
617 — 
HI — 
413 10 
823 — 
364 — 
687 — 
640 — 
480 — 
394 
— 10 
3C 
137 2 
30 10 
23 12 
50 37 
— 4 
— 46 
83 65 
16 21 
— 69 
613 4 — 51 15 
501 411 10 578 105 
532 
£31 
532 
644 
675 
474 
859 
290 
756 
151 
453 
910 
368 
733 
788 
517 
473 
633 
1,605 
Total Acreages 8,887 429 7i 1,983 707 13,039 
