42 
THE TROPICAL AGJiICULTURIST. [Dec. 1, 1899. 
CEYLON LAND AND PRODUCE COMPANY 
LIMITED. 
ANNUAL REPORT. 
lieport of the Directors, submitteil to the 
fifteenth annual general meeting of Shareholders 
held at the Ke^istered Office of the Company, 
Leadenhall House, 101, Leadenliall Street, 
London, on Monday, the 13th day of Nov. 1899 :— 
Your Directors have the pleasure to submit 
the Annexed Profit and Los.s Account and Balance 
Sheet for the Crop year ending 30th Jane, 1899, 
duly audited. 
The amount at credit of Profit and Loss Ac- 
count is £11,978, lis lOd, which, with the sum 
of £321, 12-j brought forward from last year, 
leaves £12,300, 3s lOd to be distributed. 
On the 22ud July last an Interim Dividend of 
74 per cent, on the ordinary Shares and 3 per 
cent, on the Preference Siiares was paid, and 
your Directors now propose to pay on the 15th day 
of December, 1899, the balance of the fixed 
Cumulative Dividend on the Preference Shares (3 
per cent.) making 6 percent, for tiie year, and 
7i per cent, on the Ordinary Shares, niaking 15 
per cent, for the year, and in addition, a bonus 
of 5 per cent. onOrdinary Shares— all freeof Income 
Tax. It is also proposed to transfer £4,000 from 
Profit and Loss Account to lleserve Fund, increas- 
ing that account to £17,50:), and carry forward the 
balance of £1,532 16s, subject to the Directors' 
remuneration for the year under review, and to 
the payment of Income Tax, &c. 
In accordance with a Pesolution of the Board, 
a call of 10s per Share was made upon all iMembers 
holding Preference Shares upon which only £3 lOs 
liad been jiaid, and the same was payable on tiie 
30th March,' 1899. 
Your Directors regret that owing to unfavour- 
able weather the total crop of Tea fell short of 
the quantity estimated, though the intake slightly 
exceeded that of last financial year. It will be 
observed on reference to the Statistics herewith 
that the plucking area was increased from 1,676 
to 1,754 acres. Your Directors, however, desire 
tO' point out that thi? additional acreage was 
only in partial bearing. 
With regard t3 Cocoa, your Board are pleased 
to note that the Estimates were exceeded, though, 
owing to the wet weather prevalent when this 
product was being prepared- for Market, a lesser 
percentage of " good red " itinds was obtained. 
A welcome rise in the price of Tea has been 
recorded, wiiilst freiglits have ruled on the average 
somewhat lower than daring 1897/98. Average 
Cocoa values, for the reason above stated, are 
less tlian last year. 
\our Directors desire to inform the Shareholders 
that daring the past three years the total ex- 
penditure on Manure and its ajiplication amounted 
to over 1160,000, the whole of which has besn 
charged to llevenue. 
It'is a soi]!-CR of gratification to your Directors 
that, thouiih th'i cost, of produetion tends to in- 
crease by reason of the higher rate of exchange 
plus a more liable cultivation, they are able to 
assure the Sharoliolder.s of the continued pros- 
peiity of the Company, and they .",re of opinion 
VUiit the outlook for tiie future is bright. 
Tea. — At the beginning of the year the quantity 
available for shipment to Great Britain for 1899 
was estimated in (Colombo at 93 million lb. 
against ratlier over 96 million lb. actually exported 
in 1898. So far as can be judged at present, 
the amount sent to this country during the current 
year v/ill not exceed that of the for going one, and 
the Indian crop being also likely to prove of inoder- 
aie dimensions, the statistical position of all Tea 
may be considered satisfactory, especially in view 
of the larger de iveries whieli have been going 
oa recently, bolii for Home and Foreign use. 
A check was given to business by the dispute 
which arose in the early part of the summei', bet- 
ween Importers and the Trade, regarding the 1 
lb. draft, and Pablie Sales were virtually suapen- 
pended in consequence for three or four weeks. 
This caused some accumulation of Imports, which 
however have now b?en about worked off, and the 
Auctions are rapidly resuming their normal size. 
Prices ruled above tho?e of 1898 for the first six 
months of this year, but Utterly have not been 
quite .so favourable. For the 964,500 packages 
passed through the Mincing Lane Sale Rooms from 
1st January to 31st ult. the average is 8d per lb., 
compared with 7|d. per lb. in the corresponding 
ten months of 1898 fur 984,300 packages. 
During the spring months quality, as is \isually 
the case, shewed a falling off, maiiy of the Teas 
being deficient in strength and flavour. Later 
on a general improvement was manifested, and 
some very desirable invoices were received wliich 
attracted considerable attention. 
That the use of Ceylon Tea in other countries 
than Great Britain is growing, is evidence by 
the shipments from London to outside Quarters, 
and as will be seen by the uudermentionea figures, 
business direct from Colombo with Russia, America 
and Australia, for the first nine months for the 
year, marks an increase. 
TO AUSTRALASIA, 
1899. 1898. 1897. 
11,937,0001b. 11,2.59,0001b. 9,524,000 lb. 
To RUSSIA, 
2,719,000 1b. 1,915,000 1b. 325,0001b. 
TO AMERICA. 
2,344,000 1b. 1,870,000 ib, 707,0001b. 
Cocoa. — The marketing of this article has been 
subject to many peculiarities this season, mainly 
attributable to the effects of unfavourable weather 
on the greater portion of the Crop, which has 
given a larger proportion of inferior and ordinary 
kinds than in any previous season. The effect of 
this was shewn in the scarcity of good and fine red 
parcels almost throughout the en tire Crop, and incon- 
sequence, there was aconsiderable rise in the price of 
thefinergrades, withacorresponding decline in those 
for the less desirable kinds, the result being that 
the general average is at a lower level. At the 
same tiine ic may be pointed out that higher 
prices have been obtained for really well-prepared 
lots thanforthe pastfewyears. Manufacturers gene- 
rally are becoming more favourably impressed 
witii this growth, and the increasing consump- 
tion is more than sufficient to deal with any 
likely large increase in the production of the island. 
Y'our Directors look favourably upon the future 
of this article. The out-turn of the Company's 
Crops was, as stated above, affected by the 
weather, and was much below our usual high 
standard of quality, but in the realisations full 
advantage was taken of the exceptional Market 
mpvenients. 
