S40 
THE TROPICAL AGRICULTURIST. 
[Nov. 1, 1899. 
68 acres on Rutland, 45 acres on Sorana, and nine 
acres on Ellagalla ; also 4U acres with cavdanionis, 
viz., 20 acres each on Warriagalla and Ellagalla. 
The capital expenditure during the past season for 
the purposes indicated in the last annual report 
amounted to £5,112 lis 2d, being a slight excess 
over the estimate, owing partly to the purchase of 
the eight acre plot on Tallagalla, and partly to the 
cost of additional machinery on Sorana to provide 
for the increased intake of leaf. The greater part 
of this expenditure, together with the balance at 
debit of the factory and extension .sccount last 
year, has been provided for by an issue of £7,000 in 
5 per cent, debentures, all of which were sold at 
par. For next season the capital expenditure is 
estimated at about £3,000 which includes the cost 
of opening up the 174 acres tea and 40 acres carda- 
moms above refeired to, as well as sotiie expendi- 
ture for machinery, &c., rendered necessary by the 
expected increase of leaf. Some anxiety is being 
felt in regard to the blight which has attacked 
some Ceylon tea properties very severely. Happily 
very little damage has been done to the Company's 
estates, and the general managers hope that the 
preventive and remedial measures which they have 
authorised will be sufHcient to ward off or eradicate 
the pest. The Company's Ceylon agents have 
specially recommended a more liberal application 
of manure to keep the bushes in good heart (as 
apparently the weakly bushes are chiefly attacked), 
and this may cause some expenditure in addition to 
the estimates, though it should also result in some 
increase of leaf, but the general managers have 
thought it prudent under the circumstances to 
carry forward rather a larger balance than usual. 
♦ 
NEW DIMBULA COMPANY, LIMITED. 
A general meeting of the members of the above- 
named Company was to be held at 52, Gracecliuich 
Street, London, on Wednesday the 18th inst., to 
receive the Liquidator's report showing how the 
winding up of the Company has been conducted 
and its properly disposed of, to hear any explana- 
tion that might be given by the Liquidator, and to 
pass a resolution as to the disposal of the books, 
accounts and other documents of the Company. 
The resolution to be submitted, was as fol- 
lows : — 
"That the accounts submitted to this meeting 
shewing the manner in which the winding up of 
the Company has been conducted and its property 
disposed of, be and are hereby approved ; that 
the Liquidator be and is hereby discharged from 
his office and that the books, accounts and other 
documents of the Company now in possession of 
the Liquidator, be handed to the Secretary of the 
new Company to be destroyed at his discretion 
after the expiration of one year." 
52, Gracechurch Street, London, E.G., 7th 
October, 1&99. A. Ceabbe, Liquidator. 
The following is the report, for season 
1890-99.:— 
The Directors have satisfaction in repoiting 
that the re organisation of the Company was 
completed in March last, and they now submit 
the accounts for the financial year ending June 
30th, 1899. 
The year under review has been exceptional in 
many ways, exceptional drought was experienced 
and culminated in a sharp frost on March 7th, 
which afTected a considerable area of the lower 
fields ; the South-west monsoon broke early and 
was unusually severe, the effect being a very con- 
siderable shortage in yield, which, however, was 
more or less general throughout Ceylon. 
In the face of the unfavourable climatic in- 
fluences, the Directors are glad to learn that the 
Eslate is in excellent order, and with ordinary 
weather there is good promise of the current 
year showing satisfactory results. 
The accounts now presented show a surplus of 
£18,051 19s. lid., made up of Dividend Fund, 
£12,878 8s, 9d., and Profit and Loss, £5,173 lis. 2d., 
after writing off the amount of Tea Extension, viz., 
£305 OS. 4d., and the amount of the Factory and 
Mn.chinery Account, viz., £22 Is. Od. The Direc- 
tors propose a dividend of 20 per cent, per annum 
for the year ended June .30tli last, 5 per cent of 
which was paid in March, and the placing of 
£1000 to form the nucleus of a Reserve Fund. 
The Directors wish to record their appreciation 
of the care and attention paid to the Company's 
interests by Mr. Dick Lauder and the ttaff in 
Ceylon. Mr. Dick Lauder is at present in England, 
and the Directors have had tlie advantage of con- 
ferring with him on the management and pros- 
pects of the property. By order of the Board, 
A. Ckabbe, Secretary. 
SOUTH TKAVANCORE TEA COMPANY, 
(LIMITED). 
The third annual general meeting was lield 
yesterday at the offices, Philpot-lane. Mr. T C 
Owen presided, and, in moving the adoption of 
the report, stated that for the year to June 30 
last the outturn of tea had been 3.37,961 lb. (be- 
ing 37,961 lb. above the original estimate), 
against 242,046 lb. last year. The average price 
realized had been 6.03d per lb. as against 5 55d 
last year and 5-85d the year before. The gross 
profits had been £3,339, against £1,304 last yenr 
and £1,672 the year before. After writing ofi' 
the whole of the preliminaiy expenses and the 
cost the debenture issue, amounting to £521, and 
after providing £250 for the debenture sinking 
fund, the net profit had Ijeen £1,794, which with 
the amount brought forward left £1,980 out of 
which the directors proposed, alter meeting the 
preference dividend for the year, to pay divi- 
dend at the rate of 5 per cent on the ordinary 
shares,leaving £468 to be carried forward. The mo- 
tion was seconded by Mr. RF White, and adopted. 
The chairman afterwards proposed the payment of 
the dividend mentioned on the ordinary shares. 
For ordinary shareholders, he stated, had received no 
dividend since the first year after the company 
started, but their financial position certainly 
justified a dividend on the present occasion. 
The motion was seconded and adopted. The 
chairman expressed a hope that the board would 
be able to pay an increased dividend next year, 
the preliminary expenses and the cost of the 
debenture issue having been extinguished, and 
the amount carried forward representing half-a- 
year's dividend on the preference shares. The 
directors were proceeding carefully as regarded 
the question of extensions. During the past year 
they resold two outlying portions cf land to the 
vendor for £1,985. The area under tea now 
amounted to 722 acres, of which 700 acres were 
in bearing, the remainder being the young tea. 
The present price of tea showed an average of 
Jd in excess of that of the corresponding period 
of 1898, and the quantity ot tea which the com- 
pany had was larger by between 8,000 lb. and 
9,000 lb.— London Times, Oct, 3. 
