498 
THE TROPICAL 
AGRICULTURIST. [Jan. 2, 1899. 
CEYLON LAND AND PRODUCE COM- 
PAMY, LTD. 
DiBECToHB. — Mr. James Wilson, Chairman, Mr. 
William Keiller, Sir N A Staples, Bart. 
The following report of the Directors, was to be sub- 
mitted to the Fourteenth Annual General Meeting of 
shaveholders in London, on Monday, the I4th day of 
November. 
Your Directors have the pleasare to sobmit the 
Aiinexed Profit and Loss Account and Balance Sheet 
for the Crop year ending 30th June, 1898, duly 
audited. 
1'Itc amount at credit of Profit and Loss Account is 
£ !0 022 10s Od, which, with the sum of £755 Us brought 
forward from last year, leaves £1C,778 Is 6d to be 
dislributed. 
On the 1st July last an Interim Dividend of 7J per 
c^nt on the Ordinary Shares and 3 per cent ou the 
Pi'efeience Share was paid, and your Direciors now 
propose to pay on the 15th day of December, 1898, 
the balance of the fixed Cumulative Dividend ou the 
Preference Shares (3 per cent) making G per cent for 
the year, and 7J per cent on the Ordinary Shares, 
making 15 par cent for the year, and in addition, a 
bonus of 5 per cent on the Ordinary Shares — all free 
of Income Tax. It is also proposed to transfer 
i'3,000 from Profit and Loss Account to Reserve Fund, 
increasing that account to £13,500, and carryiug for- 
ward the balance of i;i,251 Is Cd, subject to the 
Diiectors' remuneration for the year under review, 
to be fixed at the General Meeting, and to the pay- 
ni. lit of Income Tax, &c. 
In accordance with a Resolution of the Board, a 
cUl of lOs per share was made upon all members 
holding Preference Shares under which only £3 had 
been paid, and the same was payable on the Ist 
July, 189a. 
'i'ho crop of Tea slightly exceeded the estimates 
framed at the commencement of the Company's 
fiiiancial year, and but for the drought experienced 
during March, April and May last, the intake would 
have been much larger. The Cocoa Estimates were 
seoiueu, though the practical failure of the spring crop 
mu;'.fc be recorded. The net prices obtained for Tea we' e 
ag till lower then those realised for the previous crop, due 
partly to lower Markets in London and Colombo, 
and partly to the rise in Freights. 
As will be seen by a reference to the Statistics en- 
clobed herewith, Cocoa values are in excess of last 
yer.r. 
The reduction in the margin of profit on Tea, due 
to increased cost of production brought about mainly 
by the rise in the gold value of the Rupee, has been 
compensated iu a measure by the larger Cocoa crop ; 
your Directors are, therefore, pleased to present to 
the Shareholders a report which bears witness to the 
continued success of the Company. 
Tea. — Osvingto unfavourable weather in many of 
the. districts of the Island, the output has been 
Eoiuewhat short of the original estimate, and ship- 
ments from Ceylon to this country as in the current 
ye.w have shown a slight diminution as compared 
with those of the first nine months of 1897, so that 
tht; quantity passed through the London auction 
loom, from the 1st January to the 31st ultimo, is 
rather less than in the same period of the previous 
season, viz., 984,300 packages versus 990,800 packages ; 
the average realised, however, being identical — 7Jd 
per lb. 
Quality as usual has shown a good deal of irregu- 
larity, no doubt largely due to climatic influences. 
During the spring and early summer the portion 
of the Crop landed here was in many cases deficient 
in flavour, though of fair strength in cup, and quota- 
tions ruled somewhat low, but latterly more attractive 
Teas have been coming forward, with the result that 
prices generally marked a rise. 
The efforts being made in Ceylon to foster trade 
with other countries than Great Britain, appear to 
he fairly successful, especially so far as the Australian 
Colonies and Russia are concerned. It is also satis- 
factory to cote that bufiness between the Unitei 
Kingdom and outside Market indicates a d«cid«d 
expansion. 
Coco.4.— This article has sold well during the great 
part of the year, and yoor Directors are pleased to 
report that good red qoalities have realized fair 
prices, although below the best of last year, but tba 
enhanced rates obtained far the lower grades make 
the average values very satisfactory. 
CoFKEK.— As anticipated by your Directors in their 
last report, the market value of this article hrt 
further declined, and allhoogh sales were effected 
at opportune moments prices have been on a much 
lower basis. The value of good bold yellow Ceylon 
Liberian is now about 30 per cent. 
AcnEAGEs.— Tba following statement shows the 
approximate acreage of tha Company's Propertiee 
at date :— 
Name Estate. 
Alloowihare Group 
Andangodde Estate 
Fetteresso Estate 
New Peradeniya Estate 
North Matale Group . . 
Owella Estate 
Rickarton Estate 
Strathisla Group 
Forest ijand 
H 
21 4i 
170+ 
405 
380 
394 
<.»8* 
546 
203 
2,423i 
" a 
2 d • 
. * "d" 
— c » 
o 
be 
« 
o 
a 
a" o 
* 
2S 
o « 
ores 
che 
dou 
otal 
O 
H 
457 
211 
&yn 
176i 
33 
438 
"n 
54 
4584 
829 
354 
1,577 
117 
242 
457 
5<l 
596 
170 
OoJ 
438i 
430 
430 
l,590j 
\,1oO\ 
C,264 
* And coconuts. 
Your Directors hope that the current yeir'a 
Estimate of Te* will be realised, though at the moment 
the intake is somewhat less than that at the same 
period last year, owing to a recurrence of the drought ; 
however, latest reports advice more favourable weather'. 
It is, of course, too early in the seaion to express an 
opinion upon the forthcomiue Cocoa crop. 
Sir N. Staples, Bart., by rotation, retires from 
the Directorate, but being eligible, offers himself for 
re election. Mr. James B La irie. the Auditor, also 
retires, but he is eligible, and offers himself for re- 
election. 
James Wilson, Chairman. 
Alfbeu E. Lock, Secretary. 
10', Leadenhall Street, London, E.C., 5th Nov. 
Statistics for past 9 Years. 
TEA. 
ra a 
at-> 
© CO 
u □ 
0/ • 
1131 
1345 
1385 
1406 
1451 
1556 
1556 
1571 
1898 1636 
lbs. 
» = 
St: a 
■a 
o 
lbs. 
1890 
1891 
1802 
1893 
1894 
1895 
1896 
1897 
«>1 
lbs. 
354,842 314 286,292 
480,684 358 3o7,618 
503,293 364 479,005 
589,192 419 528,172 
608,110 419 312,040 
597,399 384 435,908 
694,720 446 59;),U1 
748,994 476 432,652 
b 
d 
o 
K 
a 
C 
V 
O 
IS 
9-4Gd. l/5§ 5406 
910d. J/6 48-61 
7-81d. 1/4J 46 63 
7-70(3. 1/3 51-33 
G-77d. l/2i 46-63 
7-31d. ^:xi 5.V40 
6-SOl. 1/-2 48-57 
Gold. 1/3 43-40 
753,151 400 393,360 1/4 J|8 88^^ 
Including Sales made in Colombo. 
