674 
THE TROrlCAL AGEICULTURIST. 
[A?i;iL 2, 1900. 
The Directors beg to submit to the Bhareholders 
the accounts for the year ending 31st Dec, 1899. 
The crop secured amounted to I41,4B0 lb. made 
tea against an estimate of 145,000 lb. and realized 
R46,599*10 or an average of 32-94 cents per lb. 
against an expenditure of E34,687 06 or an average 
f.o.b. cost of 24-52 cents per lb. The cost of produc- 
tion for the year has thus been reduced by nearly 
cents per lb. vehile the average price realized is 
better by fully 2 cents per lb. 
The balance at credit of Profit and Loss Account 
is R5,422-77 after providing for interest on advances 
for extensions and developmpnt of the (Jompany's 
property amounting to Ell,293 34. A new factory is 
in course of construction, and it is expected will be 
fully equipped and in wovking order shortly. 
The estimate for the current season i=! (including 
7,500 lb. ot tea from bought leaf) 165,000 lb. inade 
tea, and it is anticipated with the increased facilities 
(or transport from the estate and an improvement 
in manufacture afforded by the new factory and 
machinery better results may hereafter be shewn. 
Mr. Gibbon in his last report dated 9th Febru- 
ary, 1900, states that the latest clearings are making 
excellent progress and will be a fine sheet of tea, 
and that tlie estate is in every respect in a satisfactory 
condition. 
Mr. Thos. Hudson retires from the Directorate in 
terms of the Memorandum and Articles of Associa- 
tion, but is eligible for re-election. 
It will also be necessary to elect a Director in 
place of Mr. G. J. Jameson who ia leaving the island 
temporarily. 
The appointment of an Auditor rests with the 
meeting. 
TEA AND CACAO: THK KANDYAN HILLS 
COMPANY, LD. 
THE ANNUAL REPORT. 
Acreage : — 
Tea in full bearing ... ... 320 acres 
„ in partial bearing ... .•• 32 „ 
,, in planted in 1397 ... ... 58 „ 
410 acres 
Cocoa ... ... ... ... 90 „ 
Reserve land ... ... ... 810 ,, 
1,310 acres 
The directors have the pleasure to present their 
Report for the season ended Slst December, 1899, 
together with a statement of accounts, duly audited 
for the same period. 
The tea crop for the year including purchased leaf 
amounted to 177,027 lb., the quantity secured from 
the estate itself being 164,945 lb. asainst an estimate 
for the season of 130,000 lb., while the cocoa crop 
resulted iu a yield of 110 cwt. 0 qr. 4 lb., which is 
about 20 cwt. less than the quantity expected at the 
beginning of the year. 
The nett price realized for the tea was 35"70 cts. 
against 36'23 cts. in 1898. and the cocoa sold at an 
average of a little over R47 per cwt. all round. 
The f.o.b. cost of the tea after allowing for expenses 
in connection with outside leaf works out at a little 
over 23 cts. a lb. which shews a very large reduction 
on the rates of previous years, and it includes the 
cost of sufficient manure for a 30 acres field about 
to be gone over. 
The profit and loss account after providing for the 
debit balance of last year (E6,957"76) together with 
interest and other charges shows a sum of R9,535'74 
to credit of the account which it is proposed to deat 
with as follows : — 
6 per cent, dividend which will absorb R7,500 00 
Carried forward to next account 2,035 74 
R9.535 74 
The financial p^isition of the Company has been 
pl.iced on a satisfactory footing by the issue of 
debentures to the value of R50,000, carrying interest 
at seven per cent, per annum, all of which were 
subscribed for by the shareholders. 
The nf.vj season's estimates are based on a crop of 
160,000 lb. of tea and 130 cwt. of cocoa, besides which 
there will again be some transactions in outside leaf. 
The expenditure including the cost of manuring 
]00 acres of tea is computed at an f.o.b. rate of a 
little over 26 cts. a lb., and the cocoa crop works out 
at R29 per cwt 
The capital outlay in connection with the new 
season ip estimated at R17,790, and provides for a 
Peltf n Wheel installation uhich has been rendered 
necessary by the continued scarci'y of fnel. It 
further includes the cost of a new sirficco and finiahing 
off the extension to the fsctorj', besides opening of, 
and planting with tea, another 25 acres of the reserve 
land. The balance of the money raised on debentures 
will be available for these improvements to the 
property. 
Mr. J. N. Campbell retires by rotation and is 
eligible for re election. Mr. G. J. Jameson, who wao 
elected in place of Mr. Macindoe on his leaving for 
England also retires, and it will be necessary to elect 
a director in his place. 
The appointment of an auditor rests with the 
meeting. 
TEA: THE KIKKLEES ESTATE CO., LTD. 
THE ANNUAL REPORT. 
Acreage 31st DeC' niber, 1899 : — 
Tea in full bearing .. 310 acres. 
Tea in partial bearing .. 70 ,, 
Tea not in bearing . . 48 „ 
New clearings about .. 10 ., 
Timber and oardnmoms, about 105 ,, 
Uncultivated land . . 174 ,, 
Total 717 acres. 
The directors have now to submit to the share- 
holders the accounts of the Company for the past year. 
The crops secnred werp 130,888 lb. Tea, 1,251 lb. 
cardamoms and 35 22-32 bushels coffee, while 7,809 lb. 
Tea were manufactured from purchased leaf. The 
price realized for the tea was 39 80 cents nett per lb. 
as against 39 33 cents in 189S, while the cardamoms 
sold for Re. 1-49 per lb. nett, as against Re. 1'62 
per lb. in 1898. 
After making ample provision for depreciation of 
buildings and machinery and setting aside a sum of 
Rl,500 as a further provision to cover any possible loss 
of Coast advances, the profits for the past year 
amounted to R8,590'48, to which falls to be added the 
balance of Rl,484-84 brought forward from 1898, less 
R8*10 realized short of the estimated value of carda- 
moms belonging to that year's crop. 
An interim dividend ot 3 per cent was paid on the 
28ch August last, and the directors now recommend 
the payment of a final dividend of 6 per cent, making 
9 per cent for the year, and that the balance of 
Rl,067 22 be carried forward to the current season's 
account. 
The crops for the current year are estimated at 
150,000 lb. tea and 2,000 lb. cardamoms, on an ex- 
penditure of R44.286-59. 
In accordance with the articles of Association an 
issue of 350 cumulative preference shares of RlOO each 
was offered to the shareholders by the directors in 
their circular dated 26th October last, but only 47 
shares were applied for. The directors have however 
been able to place elsewhere 200 shares, andj have 
decided not to issue the balance at present as negocia- 
tions for the purchase of Beckington Estate have in 
the meantime fallen through. Payment his now been 
made for these shares and the loan of R25 000, appear- 
ing in the annexed accounts, was paid oft on the 13 h 
February. 
In terras of the articles of Association Mr. G. H. 
Alston retires from the oflnce of director, but is 
eligible for re-election. 
The appointment of an auditor for the current year 
will rest with the meeting. 
