June 1, 1899.] THE TROPICAL AGRICULTURIST. 
COCONUT PLANTING. 
Mr, J. J. O'Dowd, of Batticalos, speaks very 
favourably or tlie coc&iiut planting enterprise in 
Tirukovil, in which several capitalists have re- 
cently invested. Mr. Carey will, it is said, sliortly 
go in for some more acres of the reserves of the well- 
known Ouchterlony frroup of estates. Mr. TroUer, 
Who arrived at Batticaloa last week by steamer, 
^viIl be stationed at Tirukovil, as tiie faiperintendent 
of Mr. R. H. S. Scott's plantations.— Co?*, 
POONAGALLA VALLEY CEYLON 
COMPANY, LIMITED. 
llEPORT OF THE Board of Directors.— Pre- 
sented to the Shareholders at their Third Annual 
Ordinary Meeting, to be held at the Office of the 
Company, 16, Pliilpot Lane, London, E.C., on 
Tuesday, the 2nd May. 
The Directors have the pleasure to submit to 
the Shareholders the Report and Accounts of the 
Company for the year ending 31.it December, 1898. 
The net profit for the j'ear after providing for 
Debenture Interest and other charges, amounts 
to £820 2s- Id, which, with £44 Ss 2d brought 
forward from last account, gives £864 ll.s 3d to 
be dealt with, and this it is proposed to appro- 
priate as follows : — £ s. d. 
Amount as above... ... 864 11 3 
Dividend of 4 per cent, (free of In- 
come Tax) for the year, absorbing 700 0 0 
Leaving a balance to carry forward of £164 11 3 
The total Tea Crop secured amounted to 
261,164 lb. male Tea, against an estimate of 
270,000 lb., showing a shortfall of 8,8.36 lb. but 
compared with 1897 there is an excess of 2,962 lb. 
The following Hgures afford further comparison 
between the season now closed and the preceding 
year. 1898. 1897. 
Total Tea Crop secured 261,164 lb 258,202 lb. 
Total Coffee Crop se- 
cured (parchment) 724 bushels 153| bushels 
Average Price realised 
for Tea 8-182dperlb. 7-o79dperlb. 
Average rate of Ex- 
change Is 4 9-32d Is 3 37-64d 
The Directors have to record with much regret 
the death of Mr. James Eisset, who has been the 
Manager of the Estates since the Company was 
inaugurated. The vacancy thus caused has been 
lilled, on the strong recommendation of their 
adviser in Ceylon, by the appointment of Mr. 
K, G. Coombe, lately of Chrystlers Farm Estate, 
and the Board feel coufident, from what they 
know, and have heard, of that gentleman, that 
the appointment will prove to be a satisfactory 
one in every way. 
For the more advantageous working of the 
Estates your Directors decided to make the 
Factory at Poonagalla a Central one for dealing 
with the total crop, and extensive additions have 
been, and are being, carried out, which will 
make the Factory there practically a new one 
capable of dealing with 40ii,0(;0 lb. of Tea. 
The i)o.'<ilioii o( the Factory close to the new 
Kitulkelle Hoail and Bridge, which are being 
constructed by the (iovernmcnt, with the a.ssist- 
ance of asise.ssments (ron< the seven adjoining 
Estates, wil! ell'cct an appreciable saving in 
Transport Charges, ami this saving will be fur- 
ther increiscd by the reduction now accorded in 
Uailway Kates. 
lu iiccordaaco with the Articles of As.sociation 
Mr. U I'orler rctirc-s from the Board, and, being 
liyiblo, oll'cia himself for ic clectiou. 
Messrs. Cape and Dalgleish, C.A., al.«o offer 
themselves for re-election as Auditors for the 
current year. 
By Order of the Board, Lyall, Andersox & 
Co., Agents and Secretaries. 
16, Philpot Lane, London, E.G. 
20th April, 1899. 
IMPERIAL CEYLON TEA ESTATES, LTD. 
REPORT OF THE DIRECTOR.S. 
To be submitted at the annual ordinary general 
meeting of Shareholders, to be held at the Com- 
pany's ofhces, 9, Fenchurch Avenue, London, E.C 
on Wednesday, the 26th April, 1899, at 11-30 a.m. 
The Directors now beg to submit the balance 
sheet and prolit and loss account for the year 
ending 31st December, 1898. 
Tile nett profit, after payment of 
Debenture and other interest for the 
year, aiaounts to £3,9o5 2 5 
lo which has to be added the ba- 
lance brought forward from. 1897 ... 123 2 1 
ihis the Directors propose to 
deal with as follows : — 
(1) In writing off balance of pre- 
liminary expenses.. .. ±'13G 0 0 
(2) In writing off' from cost of 
properties as depreciation 
of Machinery &c 300 0 0 
(3) In payment of a dividend of 
4 per cent (free of income 
tax) on the paid-up share 
capital of the Company.. ,3,600 0 0 
(4) In carrying forwartl to next » 
year the balance of .. 42 4 6 
^, ,, £4,078 4 6 
The following Table gives the Acreage and Re- 
sults of the Tea Estates for the year :— 
a ^ S « o 
Estate. 
d 
to 
tc-r 
<1 
o s 5 = 
^ a 3 " 
u3 o -r? a 
O.S 
-I a a 
'a §. Profit, 
15 <DJ2 
Fall, Par- ^' 
tial. lb. £ s.d. 
Biuoya 441 — 109,1.51 31.80 6.74 1,081 2 4 
Edinburgh 306 39 ltiS,439 27.55 7.17 2 602 9 2 
Friedlaud 158 3 60,635 28.59 7.18 '629 0 7 
Motting- 
ham 212 — 102,363 29.98 6.27 531 18 0 
St.Vigeaua 185 — 68,713 29.42 7.54 814 10 5 
1,302 42 .569,356 29.59 7.01 5.659 0 6 
Although the weather during the year was un- 
favourable, the total crops secured exceeded 
those of the previous j'ear. The only estate 
showing a falling off' in yield was Binoya, bub 
the very .satisfactory prices secured for these 
teas, having regard to the Tea Market and to 
the situation of the property, in a measure com- 
pensate for the short yield, and conseijuent 
higher cost of production. The Edinburgh teas 
were made at a disadvantage in the okl fac- 
tory throughout the year, the new factory only 
being competed in time to deal with the 1899 crop. 
The capital exi)enditure on tea clcariii<;s w;« 
incurred in respect to 260 acres not yieldin;,' crop 
and ill planting 85 acre.s new land on Edinburgh 
and Binoya Estates. The outlay on new building's 
and machii.ery principally represents the cost of 
providing Ediiihurgli witli u new factory and 
water-power installation capable of dealing with 
lUo steadily iucrciisiug crop^ from this propaty. 
