May 1, 1899.J THE TROPICAL AGRICULTURIST. 801 
ciable increase lias taken place in the market 
value of the class of tea produced by this com- 
pany, and altlionsh tlie advance came too late 
to have any marked efFeet on last year's lesalis, 
it att'ords good leason for expectim; an inii'roved 
average price for the current .season's crops, while 
the cost of production is unlikely to exceed ihat 
of last year. The directors are also <ilad to say 
that a niodilicaiiori has been made in the agency 
charges, to the advantasje at the cnniiiany, and 
for which thanks are due to the Colon. ho agents. 
The furiher issue of £8,000 in preference shares 
was fully subscribed and jiaid for dniing the past 
year; iiividends ihere on have been paid from the 
dates when the shares were allotted. — H- <t- ('. 
Mail, llarcli 31. 
— - - -* 
BANDAItAPOI.A CEVLON COMPANY, 
LIMITED. 
KKPOUT OF THE BOARD OF DIRECJ'OE.S. 
To be presented to the shareholders at their 
sixth f'nnual ordinary meeting, to be held at the 
Ottlce of the Company, on Tuesday, 11th April, 
at 1 i o'clock a.m. 
The Director.s have now the pleasure to submit 
to the .'•hareholders ihe accounts and balance 
sheet for the year ending 31st Deceniljer, 13S8. 
The net protics for the year afterpayment of 
Debenture Interest and all other charges amount 
to £1,488 3 Od, to which has to be 'added £66 
3.S Sd lirought forivard from 1897, giving a total 
sum to be now dealt with of ... £l.-5o4 6 8 
Out of this it is pro- 
posed to pay a 
Diviilend for the 
year of 5 per cent 
(free of income Tax), 
absorbing £1,050 0 0 
And to write off for 
depreciation on 
Buildings and Machi- 
nery 450 0 0 
1,500 0 0 
Leaving a balance to carry 
forward of ... £54 6 8 
During the past season the crops secured 
anmunled to 395,270 lb. tea, and 195 cwt. 0 qr. 
1 lb. cDCoa, against 407, "250 lb. tea, and 181 cut. 
0 qr. 11 lb. cocoa in 1897, showing a comparative 
deciease of 11,980 lb, on the former product, and 
an increase of 13 cwt 3 qr. 15 lb. on the latter. 
The average return from all the tea in fnll 
and partial bearing was 540 lb. j.er acre, the 
old tea on Bandarapola giving 745 lb. anil that 
first planted on Muendeuiya 772 lb. per acre. 
These liguies show a falling off from 1897 re- 
turns, hut on the other hand, the average price 
realised for the Comiiany's tea .^^hows a fr.iciional 
advance being O'lo.'d per lb. against 6 OOSd for the 
previous year. 
In view of the ui;favourabIe season through 
wliich ive have passed, the severe droughts with 
which the ('ompany's juoperty has had to con- 
tend, and the low rai ge of jiriccs wiiich ob- 
taiiied in the Tea Market daring the greater 
part of 1898, the Directors do not look upon the 
results as altogether un -ali-factory, but given 
favourable we, ither, the prospects for ciiricnt j-ear 
are con.-^idered promising. 
The v>i)!icy of sysioniatically manuring the Com- 
pany's property i- I'eing continued, and (fuiing 
1S9S a tol il <if 168 acres were treated, at a cost 
of about £5(0 which is included in the year'3 
expenditure. 
100 
A few little lots of land, about 20 acres in all, 
have been acquired during the year ou favour- 
able term.s, and the aci eage according to latest re- 
turns is now as follows : — 
Acres. 
Tea in fall bearing .. ... 478 
Tea in partial bearing... ... 254 
Tea not in Ijearing ... ... 50 
Cocoa in full ami partial bearing... 226 
Grass ... ... 12 
Total cultivated area ... I,o20 
Reserve, Jungle, &c. ... ... 520 
Total Estate ... 1,540 
Thf Board a\ ail themselves of this opportunity 
to again express their appreciation of the etticient 
manner in which the Company's property is 
mauHged by Mr. Jame.-> Anderson. 
Since last account--* were issued, debeutures at 5 
percent to the extent of £2,500 have been placed 
at ^ \iPY cent piemium, secured on the un- 
called capital of the last issued 500 shares, 
and the small amount of premium received, £12 
10s, has been added to Reserve Fun;!, bringing 
that account up to £1,525. £9,000 Debentures 
also matured for payment on 1st January last, 
and these have been renewed at 5 per cent 
£2,100 for a period of three years and £6,900 for 
five years. 
In siccordance with the articles of Association 
Mr. Hugh Eraser retires fiom the Board, and 
being eligible, offers himself for re-election. 
Mr. John Dalgleish, C.A., also offers himsolf 
for re-election as Auditor. 
G. W. Paixe. Chairman. 
^ 
NEW DIMBULA COMPANY. 
The following is from the Investors' Guardian, 
of Mai eh 25th :— 
New Dimbula Company, Ltd. (61.124).— Re- 
gistered March 16th, with capital £100,000, in £1 
shares to acquire the business of the New Dimbula 
Company, Ltd., (incorporated in 1895), and to carr;^ 
on in Ceylon and elsewiiere the business of plan- 
ters, growers and exporters of tea, coffee, cocoa, 
and cinchona. The subscribers are : Shares. 
W. S. Bennett, Tower Mouse, Slongli, tea planter . . 1 
Henry Erooks, St. Peter's Chambsi-s, Cornhill, E.G. 
merchant . . . . 1 
Herbert Brooks, St. Peter's Chambers, Corahill, E.G. 
mercb.T.nt ..1 
H. T. Brooks, St. Petor'a Chambers, Cornhi!!, E.G. 
niercliaut . . . . 1 
W. Jord;iu, The Acacias, Loughboro' Eoad, Brixton, 
merchant . . . . 1 
A. Crabbe, 52 Gracechnrcb Street, EC, merchant 1 
E. T. Wise, Hillgrove, Altyre Road, Croydon, elk . . 1 
The numbers of directors is not to be less than 
thiee nor morethan seven; the firstare the directors 
of the old company ; qua'ilication £300 ; remunera- 
tion £500 per anntial dividend. Registered office, 
52 Graccehurch Street, E.G. 
}.\.ov. VlBV.v.?< IN M AURITIU.S,— The market is 
lirm. ^Ye have to record the sales of 160 bales 
lirsi quality at R.'?00 per ton of lOOO kiios. We 
quote nom'inally : 1st qnaHtv R3i)0 to Rollo per 
ton : 2Md quality R165 to RI70 per ton. — Co»!i;i! >•- 
cial GnzcUc. 
Cinchon a Baric— We hear of40n,0<.'0 lb. of.M.>c 
per cent cincliotia b;irk being sent olFlrom oue pro- 
perty in Southern India. This, at present prices, 
sliould bring a very satisfactory return. 
