June 1, 1899.] 
THE TROPICAL AGRICULTURIST. 
835 
DELOOLLA ESTxiTE COMPANY. 
The Directors have now to present to the Shsire- 
holclers their report for the season eliding 2Sth 
Febriiarv, 1899, togethur with the aunnal statement 
of the Company's accounta foi- the same penod 
TuH Isabel SIstate.— The decision of the share- 
holders to p.irt with this property was cairif d out as 
directed, v^ith the results shev\n in the balance sheet. 
The effect of the diminished cocoa crop has been 
to make the balance of the working account some- 
what less satisfactory than was anticipated at the 
time the esiimntes were framed, but the expectations 
of crop so early in the year hr.vfi always to be 
founded more or less upon mere conjecture so many 
mouths prior even to the blossoming season and the 
apparent capabilities of the trees are entirely 
modified by any vicissitude of the season later on, and 
although "nly 250 cwts. of cocoa were estimated as 
against iOH cvits. gathered the previous yci-.r on 
DelgoUa, only 211:f cwts. were secured, and the 
quality of much of it exceeding poor, the weather 
beint; unpropitious and the tree sufftrhig therefrom 
considerably. 
CocoNi.TS,— There were 2-10,500 nuts gathered on 
Delgolla against an estimate of 250,0(10. The pre- 
vious year's crop was 200,2(i5 against an estimate-l 
150,C00, and although this season's crop falls short of 
its estimate by 9,5U0 nuts, it nevertheless shows an 
increase of about 20 per cent above last year's yield and 
steady progress. 
Increased Aiiea of Coconuts.— Of addi- 
tional land brought into cultivation there is 133'3' i 
and the old lands have been thoroughly 
supplied .. .. .. 409 1'29 
making a total area now under coconuts . . 543 0.33 
and the Visiting Agent reports the supplying a success. 
Cocoa Supplies. — A larger area than estimated has 
been fully supplied, viz., 158a. 3r. lip. and is not 
altogether the complete success that the coconut 
supplies have been as the season has not been so 
favourable, but the work has to be gbne over every 
season until the land is fully occupied as intended. 
DiBKCT, Rs. — Mr. Prank M. Laurie retires from the 
Board by rotp tion. 
Auditor. — The elec'iou of Auditor rests with the 
meeting. 
CEYLON TEA. PLANTATIONS COMPANY, 
LIMITED. 
Directors. — H. K. Rutherford, (Chairman 
and Managing Director) ; Henry Tod, David 
Reid, (j. A. Talbot; Secretary, Sir Wm. 
John.stoii, Bart. ; Manager in ('eylon, H. V. 
MaseKi'ld ; Oflice, 20, Eastcheap, London, E.G. 
Rcjiorl of the Directors to he submitted at 
the 'I'well'lh Annual Ordinary (Icneral Meet- 
ing of Sliareholders, fixed to be lield at the 
Onv'o of tlie Company, on Wednesday, 2f)th 
A))ril. 
Tiie Directors have Hie pleasure to submit tlie 
General Balance Slieet and Profit and IjOss 
Accomit for the year ending lilst December, 
18i)8, duly audited.' 
Tiic net amount at credit of I'rofit £ s. d. 
and I,oss Account, inchuling Halance 
brought forward at lUst Dcceuiber, 
18il7, ;uid after i)roviding f'lr (ioncral 
Kxpenscs, Directors' Fees, Income 
Tax, itc. is ... ... ... U,n02 l.") 1 
An Interim Dividend of 7 percent, 
on tlie Ordinary Sliares was paid 28tli 
October, 1808, ainouiitiiig to ... 11,710 12 
It is i)ro])ose(l to pay a final IXvi- 
dead of 8 jier cent, on the Ordin.'iry 
Shares (making I.") ner cent, in all, 
free of Income 'Tax) w liidi will absorb i;j,:}90 8 0 
101 
Div'dcnds on the 7 per cent. Pre- 
ference Shares were paid for 1898 (less 
.Income Tax), amounting to ... ,5,486 16 0 
It is proposed to add to I>eser\'c Fund 3,000 0 0 
It is proposed to write off for Depre- 
ciation ... ... ... 5,000 0 0 
And to carry forward to next year a 
balance of .. ... 3,908 19 1 
£44,.502 1.5 1 
Owing to climatic influences the Ceylon tea 
crop of 1898 fell considerabl.y short of estimates, 
and the yield from the Company's Estates wa,s 
Ih per cent, under that of the previous year. This, 
coupled with a further rise in the rate of Exchange, 
somewhat diminished the profits for the year. 
The Directors, however, are in a position to 
recommend the usual dividend of 1.5 per cent, 
on the Ordinary Shares, this being the twelfth 
consecutive year of a like distribution. 
It is proposed to write oft for depreciation the 
sum of £.5,000, and to add £5,000 to the Reserve 
Fund, which \\'i!l then amount to £9.5,000, and 
to carry forward £;;,B08 19s Id. 
The yield of Tea was 460 lb. per acre as against 
405 1b. the previous yeai'. 
Tlie Ci'op foj.'-1898 was as under :— 
Estate Tea, 8,714,310 lb. ; Bought Leaf Tea, .S5.5..571 
lb.*; Tea manufactured for others, 1,005,294 lb.; 
Total, 5,075,181 lb. 
The gross price realized for tlie Company's 
Teas sold in Loudon was 8'24d as against 7'85d 
per lb. in 1897, and the average rate of exchange Is 
4 3-16d compared with Is H 13-32d the previous year. 
The crop of Coconuts fell somewhat short of 
anticipation, due to a partial failure of the 
blossom, and the working of tlie Hunupitiya 
Mills resulted in a loss, owing principally to un- 
fortunate dela3's with the installation of the oil 
machinery, and the low price obtained for dessi- 
cated coconuts. 
The following is a statement of the crops for 
the last three years. 
Years 1896 ... 875,570 Coconuts. 
„ 1897 ... 1,209,980 
„ 1898 ... 1,180,520 
The Board have again great pleasure in ack- 
i*wledging their appreciation of the services o£ 
the stall' both in Ceylon and London. 
Under the Articles of Association Mr. H. K. 
Rutherford vacates his seat on the Board, but, 
being eligible, offers himself for re-election. The 
Auditors, Messrs. Harper Brothers, Chartered 
Accountants, also retire from oflice, and oti'er 
themselves for re-election.— By order of the Board, 
Wm. .Tohns'J'on, Secretary. 
— ♦ 
Peanut Butter.— It is reported in an Ameri- 
can iournal that a new faotoiy lias just been 
put in ojiei ation in the Cily of Kokonio, Indiana, 
for the manufacture of butter from peanut?. At 
the present jniee of the nuts the butler can be 
sold at 15 cents per pound. The i roccss of mann- 
facture is no secret. Tlie nuts, after the hulls 
are removed, nvc carefully liandpicked and f.iulty 
Ivcriieis reniovc'l. Tiiey are then loasicd in a large 
votary oven. Again, they are gone over by hand 
for the removal of scorched grains. The nuts 
are then ])nt Ihrough a mail and ground as fine 
as tire (iiust flour the natural oil in the grains 
giving it tbe appe.Trance and consistency of putty 
as it leaves the mill, except that it is more of 
an orange colour. }>y the adtliiion of water the 
butter is complete, no other ingretlicr t— no! even 
salt — benig used. It never grows rancid, niul keeps 
in any elimale. If this l/uiter is all tliat it i.t 
said to be, it \v<miI(1 .seem tiiat sooner or later 
the ordinnry dairies will have to cense business, 
hut nincli ninsi be allowed for Amerienn entliu- 
siani in heralding this new butter sub.^titute, 
— C/icm, I'radt' Journal. 
