870 
THE TROPICAL AGRICULTURIST. 
[June 1, 1899. 
and succeeded in obtaining a good deal ot 
additional information, which, however, in our 
opinion, went to show that Directors, Agents 
and Managers are working with the utmo.st 
economy. Mr. Souter was also the sole critic 
at theNuwaraEliyameethig; but the full in- 
formation afforded, evidently satisfied the 
shareholders, and a resolution towards further 
economy found no seconder. 
The following is a Btatement of the acreages of th 
Company's Estates : — 
COPRA MARKET. 
May 15.— Arrivals of copra are 
conseqiiently prices are keep- 
Colombo, 
still poor ; 
ing up. 
There is a great demand for nvits. 
Prices of copra today are as follows :— Ca|- 
copi-a, B41 to R13 per candy; Marawila cop^- 
R44-5U to R45-50; estate copra, Rlo'oO to KIO • 
Oalpentyn copra, R46-50. 
CEYLON PROPRIETARY TEA ESTATES 
COMPANY, LIMITED. 
Reiiort of the Diix-ctors submitted at the second 
annual oidhiary general ineetin- of shareholders 
held at bh^ Office of the Company, on Tuesday, 
^'^'ThelJireclorB herewith submit the General Balance 
Sheet and Profit and Loss Accomit for the year 
ending aist December, 1898, duly audited. ^ ^ ^ 
The net amount at Credit of Profit and 
Loss Account after writing off balance 
of the Preliminary Expenses, providing 
for General Expenses, Income Tax, ^ ^ 
&c., is •' ' 
Debenture Interest paid to 30th 
Sept., 1893 {less Income Tax) 
amounts to • • 
Less from last account 
i725 0 0 
181 5 0 
Three months' Debenture Interest to 31st 
December, 1898 {less Income Tax) 
amounts to , • • 
Preference Dividends paid for 1898 {less 
Income tax) amounts to • • 
Tnt^Piim Dividend of 2 per cent, on the 
OrdSary Shares paid 31st October. 1898, 
amounts to „ i t->- -a „j l.'t 
It is proposed to pay a final Dividend of 
2 B°r cent, on the Ordinary Shares 
(maliiug 4 per cent, in all, free of Income 
Tax), which will absorb 
And to carry Jorward to nest year a 
balance of L, 
543 15 0 
181 5 0 
1,262 16 0 
1,567 12 0 
1,567 12 0 
121 10 4 
£3,244 10 4 
The loast year has been an exceptionally bad one 
for the Ceylon Tea industry generally, and the 
Dbectors regret to say this Company suffered in 
"TTuTthTfri^'^'"the rate of Exchange, together 
™;fh a diminished crop, owing to unseasonable wea- 
ther curtailed the profits for the year. , „ 
ThP crop of tea from the Company's Estates was 
o-'TQ^^ilh 94 370 lb. were manufactured for others, 
and 88.530 lb.' from bought leaf; the total output 
' Tr&'ofS'wis 407 lb, per acre, the gross price 
1 Tin Loudon was 7.15d per lb,, and including 
realised in l.^o»ao^ i ^ ^.^^^ g.g^^ ^^^j. 
^'e'^r "nd The^'^veTage rate^f Exchlnge 1/4 15.64ths 
against 1/3 15-32uas. 
c «c 
Eslatei. 
District. 
■- c 
* 'Z 
*■ 
o 
H.S 
H 
Acres. 
Acre*. Acres. Acres 
Beaomont 
Passellawa 
82 J 
81 
3ti3 
1,2S7 
Forres 
Mai^keliya 
356 
82 
3»» 
Troy 
Kelaui Valley 326 
io 
105 
471 
Saninicrville 
Dikoya 
liW 
52 
242 
Badella 
Dimbala 
410 
130 
130 
670 
Total acreages . 
. 2,100 
251 
702 
3,068 
,&aaiiiou8 iiave oeen maae lo loe j.ea juacoioery in 
the Forres. Troy and Beaumont P'actories and 120 
acres have been planted with tea daring the year. 
The Chairman paid a visit to all the properties of 
the Company iu February Ust, and is able to report 
that they are in a good and improving state of 
cultivation. 
SCOTTISH CEYLON TEA COMPANY, 
LIMITED. 
INCORPORATKD UNDER THK COMPANIES ACTS, 
1862 TO 1886. 
REPORT OF THE BOARD OF DIRECTORS. 
Presented to the Shareholders at their tenth anniutl 
ordinary meeting, held at the office of the Com- 
pany, on Wedne&day, 10th May, at noon. 
The Directors have pleasure in sabmittioK to the 
Shareholders the Accounts and Balance-sheet for the 
year ending 31at December, 1898. 
The net profits for the year amount 
to £4,234 lis 8d., which, with 
£951 12s lids , brought forward 
from last Accounts, gives a total £ s. d. 
sum to be dealt with of .. .. 5,186 4 7 
An Interim Dividend on the Ordi- 
nary Shares of 3s per cent (free 
of Income Tax) paid in Septem- 
ber, 1898, amounted to 1,435 0 0 
Dividends on the 7 per cent Prefer- 
ence Shares have also been paid, 
absorbing 630 0 0 
It is now proposed to pay a Final 
Dividend on the Ordinary Shares 
of6i per cent (free of Income 
Tax), making 10 per cent for the 
year 2,665 0 0 
4,730 0 0 
Leaving a balance to carry forward to next 
accounts of £456 4 7 
The Directors regret that the results shew a further 
slight falling off as compared with previous years, 
due to a continued high level of Exchange and a 
lower range of prices in the tea market daring the 
past year. 
The average rate of exchange was Is, 4jd. per Rupee, 
against Is. 3 13-32nd d. for 1897, and the average 
prices realized in the London and Colombo markets 
respectively were 7-869d. and 32 cents against 7 956d. 
and 35i cents for the previous year. 
The total crops secured from the Company's pro- 
perties amounted to 758,999 lb., which, though 17,001 lb., 
short of estimates, shew an increase of 50,466 lb. as 
compared with 1897 figures, and but for the deficiency 
in the rainfall, the crops should have been well over 
estimates. 
In addition to the above, 208,7161b., of tea have 
been manufactured for others, making a total output 
from the Company's Factories daring the year of 
967,715 lb. 
The Directors have not thought it necessary on this 
occasion to write off anything for depreciation on 
buildings and machinery, as the Ceylon Manager's 
valuations of these as on the 31st December last are 
considerably in excess of the costs at which they now 
stand in the Company's books. 
