390 
THE TROPICAL 
AGEICULTURLST. [Dec, 1, 1898. 
we are to suffer fiom over-proilucLion of tlic ai Licle 
(hear, hear.) Even if we are, tlie iesult« of tlie 
present year generally througliout I'ldiu and 
Ceylou have been such as will effectually j^ievent 
any further extension of eultivatiou. True, we 
may see some increase in pro(l\icti?>n, be«aiise 
young coni])ai)ies like our's have lea that is just 
'eoniint< into bearing ; but after that has come 
into account v,e wiil see a distinct clieck upon 
production. I am given to understand that no 
one is contemplating extensions at the i)resent 
moment, and for the: first time in my experience, 
which dates from 1804, tea-seed was praciioally 
unsaleable at the bcfjinning of this year. I think 
pi-obably we have now f,;ot to about tlie bed- 
rock, and I do not think we need fear anything 
worse than what I have, Hnfortunately, had to 
lay before you today. It may be askeil why the 
2J per cent distributed on tiie ordinary shares 
was not held over till the year closed. At the 
time the interim dividends were paid, the 
yield of the estates had been so .satisfactory 
and the prices so pood that it appeared 
probable we should realise the estimates. Tliat, 
however, is six months since, and the working; 
daring the latter part of the twelve months is 
where the deficiency took place. As to the future, 
I can say no more than is stated in tlie report, 
but I have a confident hope of meeting you in. 
pleasanter circumstances at our next annual 
general meeting. Meantime, gentlemen, 1 CMi 
assure you that the board and the nrtnaging- 
agents will do their very be^t for you, (Hear, 
hear.) 
Ml. DiENER :— Considering the low prices, why- 
do we sell so much tea out in Ceylon ? 
The Chairmam :— It is a questiou of quality. 
In Ceylon there is a market for poorer quality 
teas, for sending to Australia and markets up 
in the Persian Gulf. 
Mr. DiENEK :— I see you got nearly lOd ia 
London, and only about 5§d for tea in Ceylon. 
The Chairman :— I am bound to say I fecl 
that we could not have done better under any cir- 
cumstances. We sold in Ceylon at a time when 
we were getting distinctly better prices than the 
equivalent in London. Even if we knew what we 
know now, I really feel that we could not have 
done better tlian we have done. 
The Chairman then formally moved :— "That 
the report be received and adopted and that 
a final dividend of 3 per cent be paid 
on the preference shares (making six per cent 
for the year on jireference shares, and 2^ per 
cent on ordinary shares), and that the balance 
be carried forwarcl to the next account." 
Mr. S.R. Eakle seconded the proposition, which 
was carried I nanimously. 
On the motion of the Cii.ViRMAN, seconded by 
Mr. Leopold F Davies, Mr. John McEwan was 
re-elected a director of the Company. 
Mr. Edward Loewenstein moved the re-elec- 
tion of the auditor, Mr. J M Henderson, F.C A., 
and this was seconded by Mr. Arnott and carried, 
Mr. Loewenstein proposed a vote of thanks 
to the Chairman for the able address he had 
put before the meeting. He had given them, 
said Mr. Loewenstein, some crumbs of comfort 
for the future (hear, hear). Their thanks were 
also due to the managing agents, who had done 
the very be;:t ihsy couid under all the circum- 
stances (hear, hear). 
Mr. J3IKNER seconded the proposition, which 
was carried unanimously. 
The Ck^iRMAN briefly responded, and the pro- 
ceedings then closed. 
ivOSHENA COCONI T ESTATE COMPANY, 
LIMITED. 
A Ineeting of the alwve Company was to have 
been lield yesterday afternoon at Mr. Symoas' 
Ollice, bur was po«i,poiied for 3 30 p.m. ou Tues- 
day next, as a quoruru could not be got together. 
The following is the 
ANNUAJJ EEPORT. 
The Directors have now to bubiitit the ac- 
counts for the tliird year ending 31st December, 
JH'J7. They regret to eay that the property, 
though having had careful attention And being 
in excellent order, has not j'ct given the returns 
expectel. The Vendors' guarantee for a 5 
per cent, dividend extends for another year. 
Messrs. C. Itamalingam and IJastian Fernando 
retire by rotation, anil, being eligible, oli'er them- 
selves for re-election. In consequence of tlie re- 
sult of the year's warking not 'having been as 
favourable as was expected, tha Directors have 
waived their fees np to date. It will be neces- 
sary to appoint an Auditor for IS98. 
PROFIT AND LOiSS ACCOUNT. 
3l8t December, 1896 to 3l8t December, I 
To Balance 
R. c. 
8,152 75 
,, Expenditure on EisCate K 8,1.'>2'63 
„ Printini?, A-c. .. ., 23 43 
,, Directora' Fees .. ,.],5C)0-(iO 
„ Auditor's Fee . . „ 100 00 
„ Secretary's S»l*ry .. „ 600 00 
10,676 03 
R.. 18,828 78 
1897 jaecember 31. 
By sjs-lfif of' -Sundry Pro- 
diiee R. 13i-9i 
J, Sales o-f C<^pl;rah . . „ 7,573-10 
,, Transfer Fees 
Directors' Fees as per last re-. 
port, wa-ived 
Directors' Fees as pet tUia year 
waived 
B'ala/ttce transferred to guaran- 
tor 
7,708 
01 
12 
00 
. . 2,450 
00 
. . 1,500 
00 
.. 7,1.58 
74 
E... 18,828 
78 
PKODCE AND .PLANTING. 
Thu Decline of Coffee Deinking. — Although soid* 
medical authorities assert that co£fee is an antiseptic 
and dislQlectiiDt ami very effective in cases of typhoid, 
the general consumption of the berry in England does 
not morease. It will be seen from a reference to the 
Customa' leturns that cot'"ee is still on the decline. 
This is due ao doubj to. the ease with which tea can 
be biewed by comparisoQ, aud the tremendous sport 
made of late years by the wealthy firms engaged in 
pushing the sale of tea. CoSee is left to struggle cn 
and live upon its ancient reputation — a repnta'.ion, by 
the wav, held ia affectionate regard by steady-going 
coffee drinkers, who resist all efforts to wean them 
from their beloved beverage. 
Bbitish Guiana and Coolie Labour. — The sugar 
planters of British Guiana are hampered by labour 
diffionltios in addition to other troubles. They declare 
that they cannot do wiihout imported and iedsniured 
coolie workmen, and they have to pay, according to 
a recent regulation of the Colonial Office, two-thirds 
of the cost of bringing the labourers from India, instead 
of one-thiid as formerly, and one-half the cost of 
their return h'sme; — H: and C. Mail, Sept. 30. 
