July 1, 1905.1 THE TROPICAL AGRICULTURIST. 
19 
debentarea to Ist Jan., 1903, which the Direotora 
propose to apply as follows : — 
To pay a dividend of 6 per cent on the Preference 
Shares for the whole year, 1902, £900. To pay a 
dividend of 2i per cent on the Ordinary Shares, £1,250. 
—Total £2,150. Carrying forward the Balance, viz : — 
£541 23 6d.— Total £2,691 23 6d. 
The following figures show the result of the year's 
working : — 
SuNNrcEOFT Estate.— Crop— 622,532 lb Tea sold in 
London, at an average net price of about 5J., realised 
£13,312 123 6d ; 48,423 lb Tea sold in Ceylon at an 
arerage net price of about 6 l-16d realised 
£1,220 133 3d ; Interest on Account £88 Oa 7d ; Total 
£14,621 63 4d. Expenditure— Cost of Cultivation, 
Shipping, &e.f 11,712 183 2d : Profit Total £2,908 83 2.1. 
Pambagama Estate.— Cro/) — 254,116 lb Tea sold in 
London, at an average net price of about 4id., realised 
£4,642 33 2d ; 52,156 lb Tea sold in Ceylon, at an 
average net price of about 5 1-I6d realised 
£1,095 141 2d; Interest on Account £18 143 7d ; 
Total £5,756 Us lid. Expenditure— Coat of Cultiva- 
tion, Shipping, &c, £5,348 16s 9d ; Profit £107 15s 2d ; 
Total Profit £3,316 3s 4d. 
The total crops amounted to 977,227 lb., against an 
estimate of 1,115,000 lb., given in the last report, tha 
short fall being chiefly due to the curtailing of cultiva- 
* tion in 1901 and to the very unfavourable climatic 
conditions experienced during the latter half of 
1902. For the above reasons the result of the 
leason's working has been less asjtisfactory than 
was expected at the beginning of the year. Go the 
other hand, the working of Pambagama has resulted 
in a profit instead of a loss, thus justifying to some 
extent the more sanguine expectations regarding this 
estate expressed in the last report. The net average 
price realised for Sunnyorott was 5 3-16d. per lb. 
against 5 9-16d. last year, and Pambagama 4§d. against 
4 15-16d. It is intended to make the whole of the 
Pambagama 1903 crop into green tea, and a considerable 
proportion of the Sunnycroft output. Estimates for 
the current year provide for crops and expenditnr* 
(Ceylon) as follows :— 
Cost per lb. 
Crop. Expenditure. P.O.B. 
Sunnycroft.. 660,001 lb. R162,876 24'68 cts, 
Pambagama 335.000 „ ,, 84,700 25-28 „ 
995,000 lb. R247,576 24-88 cts. 
On the above basis the cost laid down in London 
at the current rate of Exchange will be slightly under 
(d. per lb. The planting of Shade and Rubber Trees 
will be continued at a coat of Rl,500 on Sunnycroft 
and R500 on Pambagama, and provision will also 
have to be made for the cost of some new Machinery 
for the manufacture of Green Teas on Pambagama, 
and Sunnycroft. The total area of the Company's 
properties is as follows : — 
Sunnycroft Pambagama Total 
acres. 
Tea In bearing 1,145 607 1,752 
Jungle, Timber Clear- 
ings, &c. .. 668 371 1,039 
Total. ..1,813 978 2,791 
Mr. William Forsythe, one of your Directors, 
retires by rotation, and beiug eligible, offers himself 
for re-election. Messrs. Drnry I'hurgood & Co., the 
Auditors of the Company, also retire, and again offer 
their services. By order of the Board, 
Charles Lindeh, 
London, 27th April, 1903. Secretary. 
THE DIMBULA VALLEY (UEYLON) TEA 
COMPANY, LIMITED. 
directors' report 
to be submitted to the Shareholders at the 
Seventh Annual Ordinary General Meetinf^, to 
be held at the offices of the Company, 16, Philpot 
Lane, London, E.G., on Monday, the 4th May, 
19"^^3, at irSO o'clock am. 
The Directors beg to submit the General Balance 
Sheet and Profit and Loss Account toe the twelve 
months ending 31st December last. 
The net profit earned as shown by the Profii and 
Loss Account was £13,432 l5s 5d, as agiinst £13,500 
133 2d in the previous year, a result which, con- 
sidering the state of the tea market during the year, 
the Directors consider satisfactory. 
During the year 6 per cent ivas paid on the Pre- 
ference shares and an interim Dividend of 4 per cent 
on the Ordinary shares. 
It is now proposed to pay a final dividend of 4 
per cent on thn Ordinary shares, making 8 per cent 
for the year, and carry forward a balance of £1,680 
7a 3d to next year. 
The crop amounted to 920,204 lb to 3lst December, 
against, for the previous twelve months, 1,193,357 lb. 
The cost of cultivation and placing the crop on 
boardsbip was 28-2] cents, against 26-18 cents the 
previous twelve months. 
The total crop, including 13 cwt coffee, realised 
£32,339 143 8d nett, ec|aivalent to a gross average, for 
the tea, of 9'37d per lb, against S'lld last year, and 
8-98d for the previous season. 
Mr D Erroll Sinclair retires by rotation, but being 
eligible, offers himself for re-electinn. 
Messrs Singleton, Fabiu and Co., the Auditors to 
the Company, retire, and, being eligible, offer themo 
selves for re-election. 
James Sinclair, Chairman and Managing Director, 
RowE, White & Co., Secretaries. 
April 25th, 1903. 
CEYLON IMPORT DUTY ON TEA. 
The following correspondence has been placed 
at our disposal by the Cliairnian of the ('hamber 
of Commerce : — 
Colonial Secretary'^ Office, 
No. 021121. Colombo, 17ch Dec, 1002. 
Sir, — I am directed to forward for your infor- 
mation the enclosed copy of a letter addressed to 
His Excellency the Governor by Me.^srs Harrison 
and Crosfield, London, urging the abolition of the 
import duty levied on tea intended for re- 
exportation.— I am. Sir, your obedient servant, 
A. G. CLAYTON, for Colonial Secretary, 
The Chairman, Chamber of Commerce, Colombo. 
To His Excellency the Governor of Ceylon, Sir 
Joseph West Ridgeway, G.C.M.G., K.C.B,, 
K.C.S.I., Government House, Colombo, Ceylon, 
3, Great Tower Street, London, E. C, 
November 5th, 1902. 
Sir, — Some time back we corresponded with 
Your Excellency's Government upon the above 
subject through our Colombo Firm, Messr.s 
Croslield, Lampard & Co., and the question was 
referred by your Government to the " Thirty 
Committee " of the Planters' Association, who 
after some consideration, voted against the re- 
moval of the present impost. 
We were subsequently informed that, had we 
permitted tiie Chairman of the " Thirty Com- 
mittee " to mention our Firm's name in connection 
with the resolution to abolish the duty on all tea 
landed in Ceylon for re exportation, the result 
would have been difTerent. 
The reason we had in withholding our name 
(which we placed before Your E.scellency's Govern- 
m3nt at that time) was that our primary objoctin 
getting the Duty abolished on tea landed in 
