610 THE TEOPICAL AGRICULTURIST. [March 1, 1900. 
HIGH FORESTS ESTATES CO , LTD. 
ANNUAL REPORT. 
Acreage. 
Tea in bearing . . . . 588 Acres 
Do in partial bearing . . 210 do 
Do do 1897 .. 174 do 
Do do 1898 .. 132 do 
Do do 1899 .. 25 do 
Forest and Patna 
1,16,5 
467 
do 
1,632 Acres 
The Directors now submit to the Shareholders the 
Accounts of the Company for the past year. 
The total crop secured during the year under review 
was 258,496 lb. tea (being 28,49Hlb. in excess of estimate) 
which realized a nett average of 50 06 cents per lb., 
compared with 50 76 cents per lb. in 1898. This price may 
be considered very satisfactory in view of the lower 
prices which prevailed for good teas during the year. 
After making the usual provision for depreciation of 
Buildings and I^Iachinery and writing ofi I{1,B40 which 
was expended on a survey of a route to Padiapalslla in 
1897-1898, the year's working shews a profit of 
K53,564-10, equal to 5'79 per cent on the capital of the 
Company. To this has to be added the balance of 
E3,560-47 brought forward from 1898. An interim 
dividend of two percent was paid on 2Sth August 1899, 
and the Directors nsw recommend the payment of a 
final dividend of three per cent, making five per cent for 
the year, which will leave a balance of R10,874 57 
to be carried forward to the current year'j working. 
During 1899 in addition to the capital expenditure 
referred to in last year's report, the Directors con- 
sidered it advisable to start the erection of a new 
withering house, so that it might be completed in time 
to accommodate the increased quantity of leaf antici- 
pated from March next onwards. The witheringhouse 
is practically now completed, and it is anticipated will 
pcovide the necessary accommodation required for the 
Increased returns from young tea for the next four 
years. The total expenditure on capital account 
amounted to E36,847'80, which included the upkeep of 
552 acres not then in bearing and the opening up of a 
further 25 acres. During 1900 the expenditure on 
upkeep of young tea and the opening of a further 15 
acres is estimated to amount to E15,339, while the 
erection of new lines and the completion of withering 
house and the cost of additional machinery will pro- 
bably entail the expenditure of R7,300. The Directors 
do not anticipate having to make any further call on 
the holders of the part paid shares until January 1901, 
when funds will be required to cover the capital ex- 
penditure referred to above. 
Little progiess has been made in the negociations 
for improvement of transport arrangements, but, in 
view of the Uda-Pnssellawa light railway having been 
sanctioned by the Secretary of State, efforts are now 
being made to obtain access to that line. 
The yield of Tea in 1900 is estimated at 300,000 lb. 
OB an expenditure of K80,789 76. 
During the year Mr. B J Young resigned his seat on 
the Board, and the remaining Directors elected Mr. W 
J Smith to the vacancy. In terms of the Articles of 
Association Mr. J G Wardrop now resigns his seat on 
the Board, but is eligible for re-election. 
The appointment of an Auditor will rest with the 
meeting. g 
_ ^ « 
MAHA VVA. ESTATES COMPANY, LTD 
ANNUAL REPORT. 
ACREAGE. 
Tea in full bearing . . 598 Acres 
„ in partial bearing .. 12 
„ not in bearing .. 8 
Cardamoms . . 89 
Grass and Fuel . . 24 
Total cultivated . . 731 
Jungle and waste land) ifec. 227 
Tnf.al nf 'P.fitatfi 958 
Tlie Direc'.ors now SLbmit to (he Shareholder the 
accounts of the Company for the p.ist year. 
The Tea crop secured, including tea rafido from 
1,714 lb. purchased leaf amounted to 235,916 lb. (or 
an excess over estimate of 5,91G lb.) while the ex- 
penditure was less than that estimated. 
The cirdamon crop did not quite come up to ex- 
pectations, and coffee crop amounted to 127 bus., 
but quality was ^ery poor. The nett average prices 
realized for tbe tea and cardamons sold to date were 
39'83 cents and I! I 58 per lb, respectively ; these prices 
compare with 42 cents and Rl-71 per lb, obtained for 
1898 crops. 
After making the usual provision for depreciation of 
Buildings and Machinery, the amount at credit of 
Profit and Loss Accoui.t for the year's working 
was R25,94414, equal to 8 65 per cent on the 
capital of ths Company. From the balance of R6,595 39 
brought forward from 1898 there falls to be 
deducted the sum of R28 74, beii,g amount over- 
estimated for value of 4()6 lb. Cardamoms unsold at 
the end of 1898, The total amount available for 
distribution is therefore E32,510 79. Out of this an 
interim dividend of 3 percent was paid on 2nd Sep- 
tember last absorbing R9,000 and the Directors now 
recommend the payment of a final dividend of 5 per 
cent, making 8 per cent for the year, and that th« 
balance of R8,510'79 be carried forward to the current 
year's account. 
Tiie estimates for this year are 244,050 lb. Tea 
and 6,0ii0 lb. Cardamoms on an expenditure on the 
estate of R66.817'71. on which however it is hoped a 
considerable saving may be made if circumstances 
are favourable, while Kl,150 will be expended on 
Capital Account in roofing with iron two sets of lines. 
The attention of shareholders is called to the en- 
closed notice of an Extraordinary General Meeting, 
at which it is proposed to alter the Articles of Asso- 
ciation to empower the Directors to declare interim 
dividends without the sanction of a General Meeting. 
During the year Mr. E J Young resigned his seat 
on the Board, and the remaining Directors nominated 
to the vacancy Mr. W J Smith, who now retires from 
the Board in accordance witJi the Articles of Asso- 
ciation, but is eligible for re-election. 
The appointment of an Auditor for the current year 
will rest with the meeting. 
CEYLON FISHING CLUB. 
REPORT ON THE LAST CONSIGNMENT OF BROWN 
TROUT OVA RECEIVED, 
The Ova in the first layer of the bos were found 
to be in good condition, only five to eight per 
cent were bad. This is a very good percentage. In 
the second layer the ova of one side of the layer 
had to be entirely thrown away as they were quite 
spoilt and about two-thirds of the other half were 
used. In the third layer about one-half had to be 
thrown away and from the other half only about 
one-third were put out, but these were badly affected 
with fungus. 
This is one of the worst lots we have received, 
but there was one other lot which was worse or 
about the same. 
The causes for this may, I think, be "attributed 
to the following: (1) Was the ice receptacle kept con- 
tinually replenished during the voyage ? When I 
took the box into the boat, I found that there was a 
little ice in the receptacle, not enough for the ova, 
and I immediately put in some more ice. 
The boatman who preceded me to the cool room 
told me that when he went there he found that the 
ice was just being put in the box. 
(2) In the bottom of the box we found that the 
water which flows from the ice does not flow off 
rapidly as there is only one hole in the centre of the 
box and this hole was slightly higher than the level 
of the bottom of the box. The water could easily 
contaminate the last layer and it will in turn affect 
the lavers above. 
