Jan. 2, 1899.] 
THE TROPICAL AGRICULTURIST. 
501 
handicapped when competing in onr home markets with 
Bimilar industries establislied in silver-carrency coua- 
triea where the medium of exchange finds its natural 
and unrestricted market value. That tlie Indian 
Government has temporarily benefited by artificially 
raiding the value of the rupee is unquestionable, but 
it seems impossible that anyone can fail to see that 
it has done so at the expense of the whole body of 
Indian producers who depend upon the home market. 
The difficulty of the Indian Government in meeting 
the aimual charge upon her gold-bearing debt will 
increase if diminishing profits on her exports brings, 
as it must, a decrease in the voluma of her shipments 
to this country. It is very satifactory to notice the 
largely-increasing demand for Briti.sh-grown tea which 
is now arising both in the colonial and foreign mar- 
kets. This, coupled with the fact that little fresh 
land is now being brought under tea, has an appre- 
ciable effect on the quantity arriving to the London 
market. Year by year estates are being better equip- 
ped with all the necessary buildings and machinery, 
which should result in a continued improvement in 
quality. It is to be hoped, in the interests of Coylon, 
that the Government will recognise the prime im- 
portance at this juncture of doing everything in its 
power to assist planters by reducing rail way rates to 
tt minimum, by increasing railway facilities, and hy 
liberally assisting in making roads wherever there is 
a reasonable prospect of developing traffic. Cheap 
and quick transport is the very essence of profitable 
cultivation, and the planter has a right to demand 
that his pluck and enterprise in the face of many 
difficulties should be met and enconrnged by the 
Gqvernmant, and that where public works can promote 
the well-being of the tea industry, no time should be 
lost in pushing them forward with the utmost vigour. 
With a steadily-increasing rate of consumption at 
home, a quickly-growing demand abroad, and a but 
slightly enlarging annual output the prospects of the 
tea industry are improving and give good reason for 
hoping that the cuirent season will prove a more 
profitable on« than the last. 
The report and accounts were then unanimously 
adopted, and the retiring director, IVIr. W H Anderson, 
was re-elected. 
The proceedings closed with a vote of thanks to 
the chairman. — //. and C. Mail, Nov. 11. 
THE KORALE TEA ESTATES, LIMITED. 
The ordinary general meeting of the shareholders 
of the Korale Tea Eslate", Limited, was held at the 
offices of the company, 24, Rood Lane, E.G., on 
Tuesday last. 
The chair was occupied by Mr, W. S. Bennet, 
chairman of the company. 
The Secretary read the notice convening the 
meeting. 
The Chairman, in moving the adoption of th« 
report and accounts, said : You have had before you 
for some days the report and balance sheet for the 
past year ending June 30th last, and although it is 
not as favourable as either directors or shareholders 
could wish, it might have been worse, and if any satis- 
faction can be derived from the knowledge, we are 
aware, that many Ceylon companies are worse off 
than we are. We cannot control Nature, and if she, 
at times chooses to inflict an nnusual drought on a 
country, we must put up with it. This has been th« 
case this year, and has most seriously affected the 
yie'd on some of the estates. Riverside has not felt 
this so much as tlie others, but we regret that the 
price of tea has fallen about id per pound, equal to 
about i per cent on the dividend. The price of We- 
wosse tea has also been lower, but this we look upon 
as exceptional, owing to the transition state in the 
factory. The new factory being now completed we 
look forward to better prices for the tea. Another 
cause for disappointment is the rise in ex^'hange, it 
being Jd liigher this year than last, and on the ex- 
penditure makes a difference in excess of about i"280, 
equal to ^ per cent on the dividend. The dividend i,ow 
recomiueuded ia really a, completion of that of 189li-7, 
and still leaves a cumulative dividand of 6 per cent- 
due on the preference shares to .lune 30 last You 
will observe that about 160 acres, principally on 
VVewesse, are coming on, and in the course of two 
or three years should add materially to the outturn 
of tea. Every endeavour will be made improve the 
prices obtained in the London market. After the 
adoption of the report and balance sheet has been 
seconded, we shall be pleasej to answer any questions 
the shareholders wish to put. 
Mr. Shand, in seconding the proposal, said the 
chairman had dealt with the various causes which 
oblige us to again tell our shareholders a tale of 
disappointment and I need not repeat them. I 
can only say we are doing our utmost to exerciso 
the stricts economy compatiable with good manage- 
ment m London, in Colombo, and on the estates, and 
also to improve th* quality of the tea manufactured. 
Ihe natural causes to which the chairman has referred 
we cannot control, but we have suffered loss from 
a great unnatural cause, the fictitious raising of the 
value of tho rupee, which places us at direct dis- 
advantage in the competition with other silver-using 
countries, whose currency flows naturally and has not 
been tampered with, and which only requires to be 
carried out sufficiently far to mean ruin to Ceylon 
tea growing and many other Indian enterprises. It 
behoves the directors of this company, as of all other 
simil.arly situated companies, to leave no stone un- 
turned to restore the currency of India and Ceylon 
to Its fair and natural basis. 
In reply to questions the Chairnran said that last 
year the directors waived their fees entirely. This 
year £230 had been carried forward, and the directors 
proposed to allocate illoO. During the year thirty 
acres had been planted on Karagastalawa, and ninety- 
three on Wewesse. The factory at Wewesse had been 
rebuilt on a better site at a cost of £3,000 
Mr. Tye suggested that the directors' should give 
their attention to the manufacture of unfermeiited 
or Oolong teas. He believed there was a demand 
lor these teas in America. 
Mr Brett (a director) stated that Oolongs were 
considered of very small value, and so far^as this 
country was concerned he did not think it would pay 
Am" ^^"'-^ answer ^for 
The Chairman stated that the matter should have 
the attention of the board. 
adopt^ed!'^^°" '"''^ accounts were then unanimously 
Br*^t"t n""',,^' Chairman, seconded bv Mr. 
Brett a dividend of 3 per cent., making C Ber cent 
for the year 1896-7, was declared. ^ *> P^r cent. 
Ml Tve%rP°'fl °^ ^'"^^■^ seconded by 
rr\, auditors were releoted ' 
Ihe proceedings closed with a vote of thanks to 
the chairman.-//, d; C. Afail Nov 11 
DIGALLA CEYLON TEA ESTATE COM. 
PANY, LD. 
Tiie following Report of the Directors was to 
be submitted at the .second annual orZarv 
Keneral meeting of sharelioldeis to be held 
20 Eastcheap, E.G., on Tuesday, the 22nd Nov.-!! 
Ihe Directors have the pleasure to submit the 
general balance sheet and 'profit and loss account 
for the year ending 3Qth June 1898, duly atuUted 
Tho net amount at credit of i a d i' j 
profit and loss account, after ^ a a 
providing for general expen- 
ses, Directors' fees, income 
tax, (tc, is i-n A e. 
Dividends on the 6 per cent 
preference shares were paid 
for 1897-8 (less income tax) 
amounting to 3^3 q q 
Ln^ving to carry forward to 
next year a balance of 102 .1 g 
T.H! Directors regret that o^^ii;^~t7 theiall iu 
Ih'i price of ten, and the e.xpeiulituie iucurred 00 
