778 
THE TROPICAL AGRICULTURIST. 
May 1, m^. 
MALABAR WYNAAD NOTES. 
Wynaad, April 1.— Liberian coffee will be in 
blossom on the 3rd or 41 li instant, Arabica 
following three days later, and the hybrids in 
between- The good rains we have had should 
give a pre&t start to old and young coffee, 
force old tea into a flush, and prove the salva- 
tion of young tea clearings, where such down 
pours were wanted, especially as there is every 
indication of the showery weather continuing. 
Upon most coffee estates pruning has been com- 
pleted, and surplus labour dischargtd, but upon 
tea gardens all available hands have been re- 
tained.— i/^. Mail, Apiil 7. 
DRAYTON ESTATES CO. 
THE DIRECTORS' REPORT 
was as follows :— 
Directors :— Messrs. V. A. Julius, A. R. Wilson Wood 
and H Whitham. ^ , 
The Directors beg to submit the Annual Balance 
Sheet and Profit and Loss Account for the year ending 
3l8t December 1898. 
After providing for depreciation of biiildinRs and 
machiuery the balance of profit available is R52,667-57. 
The Directors propose that a dividend of seven per 
cent be declared, making, with the iutcrim dividend of 
four per cent, eleren per cent for the year, and that 
the balance R2,617 57 be carried forward to next year's 
account. 
The crop of Tex secured from the Company s Estates 
^as ;— 
lb. lb. 
Drayton .. 402,770 Increase... 68,432 
Yuillefield 77,024 Decrease... 1,296 
Cwm .. 31,792 do. ... 680 
Total.. '.511,586 as against 460,000 
estimated. The following comparative statement 
tuay be of interest to the Shareholders. 
Yield per Acreage Acreage 
Acreage. Acre. Pruned. Manured. 
Drayton .. 722 565 305 306 
Yuillefield.. 207 381 117 37 
Cwm .. 90 342 42 - 
OostF.O.B CostF.O.B. 
Exclusive of Inclusive of Price per Profit per 
Manure. Manure. lb. lb. 
Drayton ...22-23 27.07 4613 19-36 
Yuillefield.. 28-29 3013 4606 1593 
Cwm ...24'98 2498 46-43 21 45 
Expenditure for 1898 includes the sum of R20,886-70, 
cost of manuring 343 acres at R62-25 per acre as 
follows i— 
Acres. 
With Artificial .. 268 
With Bulk .. 35 
Burying and Lining Prnnings .. 40 
a large new cattle shed, and opening np 8 acrei of 
forest land in grass. 
lu view of largely increased vield on Drayton and 
the fact that neiiher the Torbine nor Ru^^ine are 
capable of driving more macbiiterj. it has been 
decided to erect a small factoiy on Uraytou diTisioa, 
capable of turning ont from 12,000 to 15,t00 ib tea 
per month. 
The estimated coat of above is R20,000, and it i* 
hoped that with more room a belter class tea may 
be turned out, as present a,:coinniodatiun was io- 
Bufficieut to manufacture all the leaf in November 
and December. Some 20,000 Ib. was sold at cte. 4 per 
lb., pnrchaeer plmeking the leaf. 
The Company's properties consist of : — 
Dbavton— 
Total . 
348 
Tea in bearing 
Grass Land 
Timber 
Forest 
Waste Roads, Ac, 
YuU-LEFIBLn — 
Tea in bearing 
Forest and Timber 
Waste 
The estimate provided for 200 acres to cost R64-87 
per acre. 
The total cost of 511,586 lb. Tea, including above 
and Cwm rent, but exclusive of depreciation, was 
cts. 28-30 per lb., as against estimated 460,000 to cost 
ots. 27. Excess is explained by cts. 4'06 being spent 
on manuring as against cts, 2 41, estimated, so there 
is an actual saving of cts. 1'65 per lb. on other items. 
Estimating that the tea unsold will fetch 48 cts. 
per lb., the nett value of the whole crop will be 
cts. 46-37 as against cts. 45-05 last season, shewing 
a profit of cts, 18 07 per lb. as against a profit of cts. 
16'85 in 1897. 
On Drayton the sum of R10,002-83 was spent on 
capital account, this includes putting wooden tats in 
one floor of factory, new sorting room and packer, 
new set 14 rooms lines, and iron roofing for 20 rooms, 
The EsTiiiAtRD Cbop fob 1899 
Drayton . . 440.000 Iba. 
Ynillefield ... 90.000 „ 
Cwm .. .Sti.OOO „ 
769 Acres. 
86 
10 
. 818 
;. _J_ :; 
Total...l,116 Acree. 
Total . 560,000 Ibi. at an eetiaroted oopt 
of cents 27 50 per lb. 
Estimate includes R17.800 —cts. i per Ib. for manur- 
ing 330 acres with Artificial, 40 acres with Balk, and 
Pruuings being buried and lined on 70 acres, making 
a total to be manured of 440 acres. 
In terms of the Articles of Association Mr. A. R. 
Wilson-Wood retires from the Board by rotation, and, 
being eligible, offers himself for le-election as a 
Director. 
The Shareholders will be reqcested to appoint an 
Auditor for the current year. 
By order of the Board of Directors, 
Uabuy Whitham, Secretary. 
Colombo, March 18!h, 1899. 
TALAWAKELLE ESTATES COMPANY, LTD. 
The following report was presented at the first 
ordinary annual general meeting of the Company 
held at the ofKce of the Company on Tuesday, 
28th March noon : — 
The Directors have the pleaisnre to submit the 
balance sheet and accounts of the Company for the 
year ending 3lst December 1808, duly audited. 
The mortgage of £21,500, which was being 
arranged when the Prospectus was issued, was ex- 
ecuted on 21st February, It bears interest at the 
rate of 5 per cent, per annum, and the principal is 
repayable in 14 annual instalments, the first of 
which £1,500 was paid on the 31st December last, 
and charged against the profit ef the year. 
The high rate of exchange averaging Is 4 316d 
per rupee increased the cost of production. Owing 
however to the satisfactory prices obtained for the 
tea, the profit for the year compares favourably 
with that of the three years preceding, and is equal 
to over 12 per cent, on the cost price of the estates, 
after charging some £500 spent on factory exten- 
sion and new machinery against revenue. 
The total yield was 421,284 lb. Tea plucked off 
802 acres, being at the rate of 525 lb. per acre, 
costing about 27j cents or say 4Jd per lb., free on 
