Dec. 1, 1899.] THE TROPICAL AGRICULTURIST. 
knowing at the beginning of the week how much 
tea is to be offered during that week, as it will 
be evident to any one tliat no buyer will operate 
fveely on Monday it he is not absolutely cer- 
tain that similar tea from the same garden 
■will not b= in print tha next morning for sale on 
Tinursdi'y. S'Jchthinrs bova happened before to- 
day, when every in porttr cf tea was a law to him- 
self ; and when, perhaps, well Eatisfied wi'h the sale 
of his tea ffiffcted on RJon^ay, be cheerily ordered 
another invoice to be offered on Thursday. Buyers 
generally do not like to ba treated in th;s manner, 
and wa think that over a course of j'fars the im- 
porler w u'd find suoh a course of action would des- 
troy confidi nvie. Tske the Assam Company method 
of proof dura frr fXRHiiD'e. For years past they have 
regularly offered a catalogue of tea once a fortnight. 
Buyers know ihey will not have any mere for an. 
oth r fortri^ht, end it is matter of notoriety that 
the relations subsisting between the Assam Com- 
pany atd the'r regular buyers in fublfc sale 
is of a most lii'tidly character. No doubt there 
are difhoul ies to be encountered in every 
human arrangement, and the efforts of those 
at the iount of action should be to minimise 
tiiose difficulties by effecting some general plans 
which on balance of advantages against dis- 
advantages will show the largest surplus on the 
credit side. It is for this reason that we 
strongly deprecate any disturbance of the pre- 
sent system. 
An ideal plan would possibly be to have 
one large sale at the commencement of each 
week, and no more for the remainder of that 
week, but in short winter days that would be 
clearly impossible, even if physically within 
the capabilities of buyers and sellers to get 
through a week's work in one day. But the 
next best thine is to have a large sale cata- 
logued, for Monday, and get on with its dis- 
posal as far as possible on that day, con- 
concluding automatically at four o'clock, and 
finishing what is left unsold on the following 
Wednesday. Buyers Ihen know exactly what tliey 
have to d=al with in the week, and the coufiilence 
they feel in the position of affairs enables them to 
Bet freely and boldly, wh'ch is clear'y in the in- 
terests of the ssller.3. Gradually but Eurtly during 
the last twenty years the teiiflency hcsbeenforless and 
lees tea bus'nesa to be done tovsards the end of the 
•week. To cffer a sample in a country town on Friday 
or Saturday means either that the local buyerhas sup- 
plied his wsr.ts on the earlier days of lha week, and 
now prefers at'endirg to his own cu=tomcr's wsnts ; 
or if he does entertain samples tha irpehct in a 
majority of casea is that be says he will wait 
to ECd what coffiea cut of Mondsy's sale. Hence 
in the eyes of Mincing Lace dealers pub'io 
- auctions on Thursday and Friday, the purchases in 
. whiohhave tobeforce^^ on ii". willing country buyers cn 
Friday and Saturday are by no means favourably 
viewed. 
For ibis reason we strongly maintain our opinion 
that the present system is the best that has yet 
heen devised. If any small change were to be made 
it should rather be in the direction of discontinu- 
ing Thursday's Indian tea sale, and allowing 
whatever portion of the Ceylon sale of Tuesr'day 
was left over, to be finisheci on Thursday. But 
vie deprecate such action as the Tea Buyers' 
•Association contemplate in holding a large sale of 
Indian tea on Thursday ; for the reasons we have 
■ assigned above we think it is foredoomed to failure. 
—iSr. and C. Mail, Oct, 27. 
THE KINTYIIE TEA ESTATES COMPANY, 
LIMITED. 
The third ordinary general meeting of the share- 
holders of the Kintyre Tea Estates Company* 
Limited, was held at the offices of the Ceylon Asso- 
ciation in London, 61 and 62, Gracechurch street, 
on Wednesday, Oct. 25. 
The Chair was occupied by Mr. G A Talbot, 
Chairman of the company. 
The Secretary read the notice convening the 
meeting. 
The Chaieman, in moving the adopti3n of 
fhe report and accounts, eaid : The report 
which has been circulated among you will, 
I presume, be talien as read. It is with no 
small f atisfaction that we are able to present this 
report to you, for if you lock back upon the history 
of tea during the past three years you will observe 
that circumstances have occurred which have made 
it almost impossible to realise the estimates made 
when the prospectus was issued, and I think you will 
agree with me that in paying 8 per cent on the ord- 
inary sharei= we have fully anticipated what was pro- 
mised last yosr, and what many other compaDies 
■were unable to perform. The circumstances which 
have led to the r duotion of profit in tea are chiefly 
in the fall of pi ica on the London Market, a rise of 
2nd in I he exchange, which has increased the cost of 
produoiion by Jdperlb, and so reduced the profits, and 
the unfavourable weither of last year. The circum- 
stances, though at I he time they were looked upon 
8s misfortunes, have really been blessings in dis- 
guise, for the fall of price on the London Marljet 
has tended to increase the consumption, and the 
rise in txchange has certainly stopped the further 
planting of tea in Ceylon, besides giving inv6Btors 
the Edvantsga of what may be looked upon aa 
a fixed exchange. This, in my opinion, is very 
much better than the uncertain one vihich was 
common when this company was formed, when 
the frntnces of India were more or less demoralised, 
and when it was felt that somethirg of the kind 
\va3 greatly needed. Aa regards the bad season, 
it has been the cause of the great bulk cf cultiva- 
tion beirg checked. When I was in Ceylon during 
the early part of this year I saw a good deal oi 
tea planted on old worn tea-land that had beea 
abandoned. There is no doubt that this tea innsb 
go out of cultivation, and if this is so, we tnusb 
regard the production of tea as having reached 
its limits. This is a benefit for those who are 
able to produce tea, for with a gradually increas- 
ing demand, our prices ar e bouncl to be on a firm 
basis. Next we come to last year's working. 
There was a great deal of anxiety about ivhat 
were called tea pests, but we are glad to tell yea 
that in spite of this fear, we produced 670 lb. 
per acre as against 519 lb. for the previous year. 
Then a word about the cost of production. This 
has been reduced to 24 2-3 cents per lb. f.o.b., 
which, considering tha,t this company holds two- 
thirds of its estates in Ceylon on the high-lyinff 
ground, I think you will agree with me is very good 
indeed. Our agents and our superintendents on the 
estates deserve our warmest thanks for their care- 
ful management, for it is chiefly through them 
that these better results as regards costs have 
been obtained- I must mention, however, that I 
think it will be extremely difficult, and, perhapsj 
impossible, to maintain this low cost, for, with 
the extensions in manuring that are desirable and 
the renewal of buildings, this rate, which is an 
extremely low one, may be exceeded. Thearnounti 
of our profits, therefore, the rate vi productioq 
