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THE TEOPJCAL AGKICULTURIST. [June 1, 1900, 
'186,776 lb. tea, and the average sale price in 
London was 8jd per lb. {jross. The current .sea- 
son's crop is estimated at 185,000 lb. tea. The 
rate at Avhich drafts were nef^otiated was Is 
4 19-64d against Is 4 7-32d last year. The Direc- 
tors desire to place ou record their appreciaiion 
of the services of Mr. W. Sandy Thomas, the 
Manager in Ceylon. The net profit for the year 
amounts to £2,398 15s lid ; to which has to be 
added tlie balance from last year of £223 6s 6d ; 
making together £2,622 2s 5d. Out of this the 
Directors have written oflT the balance of prelimin- 
ary expenses account £223 15s lOd ; the preniinni 
paid for consols £105 14s; the dividends on the 
6 per cent preference shares for the year endiiig 
.31st December, 189g, have been paid £780 ;inc(>iiKi 
tax £58 12s 8d ; it is proposed :— To pay a dividend 
of 6 per ceiit free of income tax on ordinary 
shares, requiring £1,300 ; and to carry forward to 
next year the balance of £153 19s lid. Total 
£2,622 2s 5d. The investment in consols lias heen 
written down to par ; but in view of the expendi- 
ture on buihiings and machinery charged to 
revenue account, the Directors do not ronsiiit;;' it 
necessary to write off a specific sum for deprecia- 
tion. The Directors have been deprived, through 
death, of the services of their late colleag-.ie, 
Brigade- Surgeon John Bennett. The Director 
Avho retires on this occasion is Mr. Charles IJiuriiy 
Robertson, who, being eligible, offers himself for 
re-election. The Auditor, Mr. J Hamilton Alston, 
also otters himself for re-election. 
BOBERTSON, B»is & Co., Agents and Secietaries. 
London, March 30th, 1900. 
Director wlio retires on his occasion, being 
eligible, otters himself for re-election. Mr. 
J Haniiiton Alson, the Auditor, also retires and 
otters himself for re-election. 
Robertson Bois & Co., Agents and Secretaries, 
London, April 3rd, 1900. 
• CKAIGHEAD TEA COMPANY, LIMITED. 
REPORT FOR 1899. 
Reports presented at the second ordinary annual 
general meeting held at Fenchurch Street, London, 
on 12th April, 1900. 
The Directors have the pleasure to submit t'le 
balance sheet and accounts of the Company for 
the year ending 31^t December, 1899 duly 
audited. The mortgage has been reduced to 
£4,050 by the payment of the first instalment 
of £450 on the 31st December last, which has 
been charged against the profit of the year The, 
estates are reported to be in good condition 
and are being liberally cultivated. The total 
yield, excluding 5,025 lb. tea from purchased leaf, 
was 342,250 lb. tea and the gross average price 
obtained in London was 7 '82(1 per lb. The ex- 
penditure included the sum of ^6350 spent on 
buildings and machinery and the up-keep of 
young tea not yet in bearing which has this year 
been charged against revenue. In the coming 
year a new roller and drying machine will be 
necessary, and the withering shed will be com- 
pleted. 
The net profit for the year amounted to 
£.3,145 17s lOd ; to which has to be added the 
balance last year of X457 Os 8d. Total £3,604 
18s 6d, Interest on the mortgage has been paid 
£225; the first instalment of the mortgage (£4,500) 
lias been paid £450 ; dividend on the six per cent, 
preference shares for the year has been paid .£421 
l6s; an interim dividend of 2.J per cent on the ordi- 
nary shares, free of income tax has been paid £572 
■15s;preliminaryexpenses have been writtenoff £'153 
8s 3d. It is proposed to pay a final dividend 
of five per cent free of income tax on the Ordi. 
-nasy shares which will require £1,145 10s ; and 
to carry forward the balance of £636 9s 3d. 
Total *3,604 18s 6d. Mr. George Alston, the 
CEYLON PROPRIETARY TEA ESTATES 
CO., LTD. 
REPORT FOR 1899. 
Report of the Directors submitted at the Third 
Annual Ordinary Gener«l Meeting of Shareholders 
held at the Gifioe of the Company, on Wednes- 
day, 9th May, 190®. 
The Directors herewith submit the General Bal- 
ance Sheet and Profit and Loss Account for the 
the year ending 30th December, 1899, duly audited 
The net amount at Credit of Profit and Loss 
Account after providing for General Expenses, In- 
come Tax, &c., is ... £6,911 12 9 
Debenture Interest paid paid to 30th Sep- 
tember, 1899 {le;s Income Tax), amounts 
'0 — ■.. ... £725 0 0 
leas from last Account ... 181 5 0 
£543 15 0 
Three months' Debentures Interest to 30th 
Dec, 1899, (/e.ss Income Tax) amounts to 181 5 0 
Preference Dividends paid for 1899 (less 
Income Tax) amounts to ... ... 1,262 16 0 
Interim Di\idend of two per cent on the 
Ordinary Shares paid Slat October, 1899, 
amounts to ... ... j gg^ 12 0 
It is proposed to pay a final Dividend of 
three per cent on the Ordinary Shares 
(making five per cent in all, free of Income 
Tax), which will absorb ... ... 2 361 8 0 
And to carry forward to next year a bal- ' 
»'»<=9 of ... ... i_oQ^ 16 9 
„ ^ £6,911 12 9 
tor the past year the Company's Estates have 
given an mcreased crop of tea of 70,000 lb, and a 
yield of 439 lb per acre as against 407 lb, the pre- 
vious year. 
The gross price realised for the teas sold in London 
and Ceylon averaged yild as against 6'94d last 
year, and the average rate of Exchange 1 4 26-64 
against 1/4 15-64. 
Ttie following statement shows the results of the 
working of the Company for the last three years :— 
Acreage Yield 
Year. of per Rate of Sale 
lea in Acre. Exchange Price of 
Bearing. per Tea. 
1897 .. 2J00 413 1/3 15-32 6-90 
1898 .. 2IO6 407 1/4 15-64 6-94 
1899 .. 2111 439 1/4 13-32 711 
Estate Bought Teamanu- 
Year. Tea. Leaf Tea. faot'd for Profits 
others. Total 
lb- lb. lb. lb. £ B, d. 
1897 .. 868,710 32,799 89,307 990,816 6,277 6 9 
1898 . . 857,351 38,530 94,370 990,251 4,884 3 11 
1899 .. 927,395 61,772 1,681 990,848 6^790 2 5 
There are 2,856 acres planted with tea and the 
total area of the Estates comprises 3,058 acres. 
The Radella factory was totally destroyed by firo 
on 26th October last. The loss was covered by In- 
surance, and it is expected that tea manufacture wiil 
be resumed in the new building in June next. 
Under clause 69 of the Articles of Association, Mr. 
G. A. Talbot retires from the Board on this occasion, 
but, being eligible, offers himself for re-eolection, 
The Auditors, Messrs. Harper Brothers, Chartered 
Aceountants, retire from office and offer themBelYee 
tot re-election. 
