May 1, 1899.] THE TEOPICAL AGRICULTURIST. 
799 
AUGUSTA TEA ESTATES COMPANY, LTD. 
SECOND ANNUAL REPORT. 
The Directors bep; to snljmit tlie audited accounts 
for the year closing 31st Deoeuiber, 1898 : — 
Tlie accounts show a iiroiit of £173 2s 6il after 
paying fixed charges and writing £58 13s off 
preliminary expenses account ; out of this ausount 
the preference dividend for the year has been paid, 
amounting to £162 18s, and leaves a small balance 
to carry forward of £10 4s 6d. 
The quantity of tea manufactured during the 
year has been 101,211 lb., of which 91,780 lb. have 
been sold m London at an average price of 6'71d 
per lb., and 9,431 lb, in Colombo, chiefly dust, at 
an average of 17 cent per lb. 
The average rate of e.xchange has been 1/4 
5-16th3, and the average cost of production 26 90 
cent, or 4^d per lb. f.o. b. in Colombo. 
The outturn from the garden has been less than 
estimated by about 9,000 lb., owing to the partial 
failure of both monsoons. With favourable 
weather this year the Directors expect 110, COO lb. 
from the estate, which should give a more satis- 
factory leturn to the Company. Since the com- 
mencement of the new year there has been a 
substantial rise in the price of common and 
medium tea, which, if continued, will considerably 
increase the profits. 
By the articles of Association Mr. H. A. Plan- 
cock retires by rotation from the Board, and, being 
eligible, offers himself for re-election. 
The Auditors again ofl'er themselves for re- 
election. 
C. A. Reiss, T. J. La-vtrance, Directors. 
BURNSIDE TEA CO. OF CEYLON. 
REPORT OF THE BOARD OF DIRECTORS 
To be presented to the shareholders at their 
third annual ordinary meeting, to be held at the 
office of the Company, 15, Philpot Lane, London, 
E.C., on Monday, 10th April 1899, at 2 o'clock p.m. 
The Directors beg to submit to the shaieholders 
the report and accounts of the Company for the 
year ending 31st December 189S. 
The past year in Ceylon has not been a good 
one for planters, drought having been experienced 
in the first half, and too much rain in the latter, 
and although as regards the estates in the Kan- 
gala District the rainfall for the year was about 
the average, it was not well distributed. 
The total crop secured from the four estates 
during the year was 356,45511) made tea against 
an estimate of 380,000!b, and 116:^ maunds of tea 
seed and 2021b of cardamoms, against respective 
estimates of 150 maunds of the former and 3001b 
of the lattei product. 
The estate comprising the Burn.side group (Burn- 
side, Wattagalla. and Heeloya) are 8,308ro short 
estimate, and Midlothian is respon.'^ible for tlie 
balance of short fall, viz , 15,2,371b, a result due, 
in the Superintendent's opinion, to the very un- 
favourable season experienced. 
The average price realized for all the Company's 
tea was 6:?d per lb, and the directors have been 
disappointed with the comparatively low prices 
realised for Midlothian tea. 
The average rate of exchange was Is 4 lo lOd 
per rupee as against Is 3 21-32d last year. 
Owing to the poor prices realized during the 
lirst half of 1898, coupled with the ."ihort fail in 
crop, the profit earned on the year's working after 
paying debenture interest, etc., amounts to only 
£395 4s Id which, with i:27 9s 7d brouglit forward 
vom last account leaves £422 13s 8d to be now 
dealt with. Ihe directors propose to pay a divi- 
dend of 2 per cent for the year (free of income 
tax) absorbing i.352, leaving £70 13s 8d to be 
carried forward to next itccount. 
fn accorJiince with the .Articles of Association, 
Sir Geoige A Pilkington retires from the Board, 
and being eligible offers hiuTielf for re-election. 
Mes.=;rs. Cape and Dalgleish,C.A. , al.so offer them- 
selves for re election as auditors. — By order of the 
Board, LYALL, ANDElfSON & C.\, 
Agents and Secretaries. 
EDERAPOLLA TEA COMPANY OF CEYLON, 
LIMITED. 
REPORT OF THE BOARD OF DIRECTORS. 
To be presented to the shareholdeis at ihcir third 
ordinary general meeting, to be held at the oflice 
of the Company, 16, Philpor. Lane, London. E. C., 
on Tuesday, Uth April, 1899, at 2 p.m. 
The directors be^ to submit to the shareholders 
the report and accounts of the Company for the 
year ending SLst December, 1898. 
The total crop secured fioni tlie three estates 
was 447|026 lb made tea against an estimate of 
478,L'00 lb being a shortfall of .30,974 lb a le.sult 
principally due to the unfavourable season ex^ 
perienced. 
The average yield for the three estates was 
524 lb per acre, the average price realised 6gJ pef 
lb and the averaice rate of exchange was 1/4 
1/4 against 1/3 37/64 per rupee fur the previous 
year. 
In his report on the estates, dated 28tli De- 
cember last, the visiting agent speaks very 
favourably of the young tea planted is follows:— 
8Tr£ acres in 1896 
51i „ „ 1897 
41i ,, 1898 
and anticipates thtt duiing tlie last six months 
of the present year a good deal of leaf will be 
secured from the two earlier plantingrs. 
On Ardross, plumbago has been discovered, and 
under a working arrangement with a native, 
mining is being carried on successfully ; so far 
about four tons have been secured, a sample of 
which has been very favourably rcjiortcd on by 
a London expert, but at present the output is 
being sold locally. 
Mr. Bolt having occasion to visit Ceylon, has 
gone carefully over the Company's esiates, and 
his report on their condition and prospects has 
given satisfaction ^o his co-directors, who are also 
glad to have from him a strong confirmation of 
the favourable 'opinion expressed by Messrs. 
Porter and Smith, with legard to St. Helen 
Estate, and which appeared in last year's report. 
The nett proht for the year amounts to £2,068 
4s 4d. which with £13 13's 3d brought forward 
from last account, leaves £2,081 17s 7d to be now 
dealt with, and this it is proposed to apjiro- 
priate as follows; — 
Amount as above ... £2,081 17 7 
Dividend of 5 per cent 
(free of income tax), 
absorbing £1,275 0 0 
To write off for de 
preciation on build- 
ings and machinery 450 0 0 
To place to reserve 
account (making it 
£1,000) y 3ti0 0 0 
2,025 0 0 
Leaving a balance to carry forward of £56 17 7 
