808 
THE TEOPICAL AGEICULTtiElST. 
[JUiNE 1, 1000. 
AGRA TEA COMPANY, OF CEYLON, LTD, 
ANNUAL REPORT. 
The Directors have the pleasure of submitting 
their report on the transactions of the Company for 
the year ending 31st December, 1899. 
The acreage of the Company's property is as under: — 
Tea in full bearing . . 197 acres. 
Tea in partial do . . 5 do. 
Tea not in do . . 30 do. 
332 acres. 
Forest .. 26 do. 
Grass, waste laud, &c. 9 do. 
Total area 367 acres. 
The estimated crop for 1899 was 160,0001b. and 
the out-turn 167,880 lb., or a surplus of 7,880 11\ 
This crop realized R70,159 8 equivalent to 41 79 
cents per lb., as ugainst 45 cents in 1898. The ex- 
penditure on Sackarawatte, as thown in the accon - 
panying accounts, was R4!),138'63, or 26'80 cenls 
per'lb. as against 27A cents in 1898. The esti- 
mated crop for 1900 is 180,0(0 lb. tea to be pix- 
dcced at 28 cents per lb., which includes a liberal 
allow auce for manuring. 
The net profits on the woiking of Sackarawatte 
Estate amounted to K2.^,020■45, which, after deduction 
of K2,177'88 written off for depreciation of machinery , 
represented about 5^ per cent on the value ef that 
property as shown in the balance sheet. 
In accordance with the resolution of the shnre- 
holders, passed at the last general meeting, the 1898 
profits, amounting to E14,111'03, have been tiaiisi- 
ferred to the General Reserve Fund. 
The net profits for the year 1899 amount to 
K14,722'12, out of which the Directors propose to pay 
a dividend of 3 per cent on 559 shares (K8,385,) leaving 
R6,337'12 to be carried forward to next account. 
With regard to Kalkudah Estate, the Directors have 
raaae arrangements with the vendors for the latter to 
take back the property for the price paid by the Com- 
pany, viz : — R(!0,000, plus the amount expended on it 
with interest at 4 per cent. Payment is to be made 
by the surrender to the Company of 120 fully paid 
shares, and the sanction of the Court has recently been 
obtained to the capital of the Company being reduced 
by the cancellation ofsuch shares. 
The Standard Life Assurance Co.'s mortgage over 
the Company's property has been reduced by £1,000 
sterling, and the mortgage over Kalkudah released, a 
loan of RliJ,('GO having been obtained for that purpose. 
The condition of the Sackarawatte Estate is satis- 
factory as regards general appearance, cultivation, 
and crop prospects. 
In terms of the Aiticles of Association Mr. John 
Symonds retires fi om the Board of Directors, but is 
eligible for re-election. 
PITAKANDE TEA CO., OF CEILON, LTD. 
ANNUAL MEETING. 
I?EPO«,T FOR 1S99. 
Acreage. 
Tea in full bearing . . 500 acres 
Tea in partial bearing .. 260 do 
Tea not in bearing ... 240 do 
Citdamoms in bosring 
Cacao and Crotous in bearing 
Fuel Trees 
Forest and Grass Land 
Waste Laud and Buildings, &c. 
],Oro acres 
44 do 
100 do 
40 do 
227 do 
30 do 
Total area. . 1,441 acres 
The Directors submit their report and accounts for 
1898. The crop secured amounted to 553,130 lb, tea, 
being 143,177 lb. more than the yield in 1898. The 
net average jjrice realized was 36 14 ots. per lb., whilst 
the cost f.o.b. was 23 916 including the cost of manur- 
ing or 18 400 cts. exclusive of this item. The average 
yield per acre was 727 775 lb. including all tea planted 
Up to March, 1896. The cocoa and croton crops were 
disappoioting, but the cardfvjpoms exoeecled expecta> 
The net profit for the year including a balance of 
R440 05 from 1898 amounted to R69,588 51. Interim 
dividends aggregating 12 per cent have been paid, and 
the Directors recommend a final dividend of three per 
cent making a total of 15 per cent fur this year, and 
that a siiui of R23,000 be transferred to reserve or 
extension fund account as a SPf-oS against capital 
cxpendiUiie, and that the balance of R838-51 be carried 
forward to next year's accounts. 
In teims cf tiie Articles of Aseociation Wr. Robert 
Mori.= on retires from the Board of Directors, but being 
eligible offers himself for re-election. The appoint- 
meat of an Auditor for the current year rests with 
the m'^fctiijg. 
DKAYTON ESTATES CO., LTD. 
REPORT FOR 1899 
Tiif> crop secured from tlie Company's estates was : 
Drayton 460,708 lb increase 57,938 lb 
Yuil efield (-9,270 ,, do 12,216 ,, 
Cwm 35,452 ,, do 3,6(;o 
Totfil 58.5,430 US against 560,000 estimated. 
^ The following tif^nres may be ot interest to the 
Sliaveliolileis : — 
Drayton .. 
Yuilletield 
Cwm 
7t;0 599 421 
218 4ii9 86 
90 394 48 
J: '5 i:^ .5 ^ J= w 
< SiJi 5*— 
233 61 300 
60 - _ 
5:2 <c.fl 
b >1 
O ^ o O - o 
Drayton ... 90 97 24-77 46 26 21 78 Rl.30-46 
Ynillefield 26 34 28 98 45 00 16 79 68 76 
Cwm .. 25 32 25 32 46 26 2103 83T7 
The total cost of 585,430 lb., exclusive of dei)re- 
ciation ami Cwm rent, was 25 83 cts., af;ainst 
an estimated cost of 27 50 els., and 657 acres 
were manured as against an estimate of 440 
acres only. 
Allowing 45 cts. per lb. for tea unsold, the nett 
value of whole ciop will average 46-35 cts. or 
pr-actically the same as last season, leaving a 
profit of 20-52 cts. as agaiust 18-07 cts. in 1898 and 
16 87 cts. in 1897. 
On Drayton a new factory has been built 88 feet 
long by 48 feet broad, framework all of iron, with 
two withering lofts 88 feet by 36 feet. Machinery 
consists of a 9^ Oil Engine, 2 Economic Hollers, 
two Desiccators, and a KoU Breaher, cost 
conipletp, except as regards some factory fittinss. 
was E31, 483-64. " ' 
It has been used for withering purposes since 
May last. 
A further sum of R4,241-35 was spent on lines, 
34 new rooms having been built, and 44 rooms 
re-roofed with iron. 
The Company's properties consist of : — 
Drayton— Tea in Bearing ... 769 acres. 
Grass Laud ... 26 
Tinsber ,., lo 
Forest ... 9 
Waste and Roada ... 69 
Yuillfcfield — Tea in Bearing .„ 2I8 
Forest and Timber ... 7 
Waste „, 8 
Total 
The Estimated Crop for 1900 is :- 
Drayton 
Yuillefield 
Cwm 
.. 1,116 acres. 
500,000 lb. 
100,000 
35,000 
Total 635,000 lb., 
estimate^ 9e9t 26 «ent9 f.o.ll 
