June ], 1900.] 
THE TROPICAL AGRICULTURIST. 
809 
In terms of the Articles of Association Mr. H. 
Wliitliam retires from the Uotud by rotation, anil, 
bein<{ eligible, offers himself for re eleclion as a 
Director. The Shareholders wiil be requested to 
appoint an Auditor for the current year. 
A dividend of 10 per cent was declared, making 
15 per cent for the year. 
Mr. H Whitham was re elected director. 
Mr. H P Church was appointed auditor for the 
current year- 
^ . 
KELANI VALLEY TEA ASSOCIATION, LTD. 
ANNUAL RKPORT. 
The Directors have the pleasure to submit to 
the Shareholders the Report and Accounts of the 
Coirpany for the year ending 31st December, 1899. 
Since last Keport Debentures for £850. which 
matured on 1st July last, were lenewed for Hve 
years at 5 per cent, per annum. , The total Crop 
from the Company's four Estates amounted to 
575,255 lb, against 578,169 lb in 1898. The average 
price realised for the who Crop was 7d, against 
e^d in 1898, au'l the average rate of exchange Is 
4 25-64(1 in place of Is 4 19-64d in the previous year. 
There has been no alteration in the Com|»any's 
acreage, details of which weie given in the last 
Keport. 
The new factory for Wereagalla and Parusella 
has now been in use for some months, and the 
directors are pleased to say that the cost of pro- 
duction has tliereby been materially reduced, and 
the quality of the tea is being improved. The 
planting of coconuts through the tea on Degalessa 
and Dover estates has been proceeded with, and 
Mr. Porter, on his recent visit to the estates, 
reported that they were looking well. 
The directors "have written 10 per cent ofT the 
cost of buildings and machinery tor depreciation, 
and the amount, £1,098 Is 3il, appears in the 
accounts. The net profit for the year, after de- 
ducting the above sum of £1,098 Is 3d, 
written off for depreciation, amounts to ,£2,167 
.Is 31, which, with £341 2s 7d brought forward 
from last account, gives £2,50S 5s lOd to be now 
dealt with, and this it is proposed to appropriate 
as follows : — 
Amount as above . . ... . . £2 50S 5 10 
Interim dividend ot 3 per cent 
(free of income tax on £18,765 
paid in September . . £562 19 0 
It ia now proposed to pay a 
final dividend of 7 per cent 
(free of income tax) on £18,765 
^making 10 per cent for the 
year) .. .. 1,313 11 0 
To write off amount ex- 
pended on new clearings, etc. 
in 1899 .. ... 212 13 5 
2,0S9 3 5 
Leaving a balance to carry forward of £419 2 5 
In accordance with the Articles of Association, 
the Hon. D A C Scott retires from the Board, and, 
being eligible, offers himself for re-eleccion. Mr. 
J B Laurie, C.A., offers himself for re election as 
Auditor. 
By the Articles of Association the Annual Ordi- 
nary Meeting has to be held each year in the month 
of April. In consequence of this limitation the 
Directors have been unable to convene the meet- 
ings as early as they would otherwise have done, 
and they now propose that the Articles should be 
. altered so that in future the meetings may be held 
at such time as the Board see tit. For this pur- 
pose au Extraordinary General Meeting will Ipe 
held at the conclusion of the Ordinary Meeting, 
and formal notice of the Extraor linary Meeting 
acconipaiiies this Keport. G. W. Paine, Chairman 
16, Philot Lane, Loudon, E.G., 21s!; March. 
THE VELL(KELLIE TEA COMPANY OF 
CEYLON, LTD. 
ANNUAL ItKPORT. 
Presented at the Thiid Ordinary General 
Meeting of the Velli-cellie Tea Company, of Ceylon 
Ijimiteil, held at the ofhces fif the Company, 
12, Fenchurch Street, London, E.C, on Thur.?day, 
the 29Lh March, at two o'clock. Your Directors 
have the pleasuie of submitting their Keport and 
Balance sheet for the j'ear ending 31st December, 
1899. 
The yield of the Estates has been 234,2001b. of 
which 218,755 lb, have been shipped to Lond(ni, 
and ^old at a net average of 8d per lb. The total 
yield of the Estates netted 7-75d per lb. 
The acreage and yields of the respective Estates 
were as follows : — 
Acreage. Yield. Average per 
Aero, 
lb. lb. 
Onvahkellie 2V9 .. 118,802 ... 426 including 40 
acres of young 
tea. 
Velhkellie 259 ... 115,398 ... 446 No young tea. 
The average cost of tlie toa f.o.b. Colombo waa 
30.43 cents per lb. 
The crop for 1900 is estimated at 242,9501b. 
Exchnnge has averaged I3 4 9-c(2d per rupee aga'ust 
l3 4 13-64d in 1898. 
The working Account discloses a surplus of 
receipts (£2,596 17s Id), which after the addition 
of the balance brought forw ard (£119 ICs 5d) and 
the deduction of dividend on Pieference Sliares 
(£285 Os Od), of an interim dividend of of 2 percent, 
on Ordinary Shares (£705). and of Preliminary E.\- 
penscs (£127 8s Od), and Income Tax (£27 17s Od\ 
leaves sutfijient for the piyment of a linal dividend 
of 4 per cent., free of income tax, onOrdinary Sh&re- 
(£1,410), and a balance to be carried forward of 
£161 8s 6d in respect of Superintendent'.'! commis- 
sion on net prolits, income tax, etc. 
Mr. G A Dick, at present in Ceylon, expresses 
himself as thoroughly pleased with the local ma- 
nagement of the Com|)aiiy's property and affairs, 
and considers that the piesent season opens with 
prospects of inci'eased financial success. 
Mr. P L Johnson retires from the Board on this 
occasion, and, being eligible, offers himself for 
re election. 
Mr. J Hamilton Alston, the Auditor, also 
offers himself for re election. 
TALAnVAKELLE estates COMPANY, LTD. 
ANNUAL REPORT. 
Presented at ttie second ordinary annual general 
meeting of the Company, held at the Otfioe of the 
Company, on Tuesday, the 3rd April, at noon. 
The Directors have the pleasure to submit the 
balance sheet and accounts of the Company for the 
year ending 3l3 December, 1899, duly audited. 
The mortgages has been reduced to £18,500, by 
the payment of the second inatalmest of £l,500on 
the 31st December last, which has been charged 
against the profit of the year. 
The estates are reported to be in excellent oon- 
dition and are being liberally cultivated. The 
Directors are well satisfied with the result of the 
season's working, for although the balance carried 
to profit and loss account is £344 lis 2d less than 
last year, the expenditure includes the sum of 
£200 49 ad spent ou felling and clearipg 30 aer«j| 
