July l, 1903.) THJi tEOPICAL AGltiCULtaiilST. S-i 
The profit and last Recount show 
a profit on the working of the 
estates of 
Interest 
Transfer feea 
Exchange 
Brought forward from last year 
The Directors have paid the interest 
on the debentures ... 
dividend on the prefevenoo sharps to 
the 3lat December, IVliO 
Home cliarge^, as per .iccount 
Leaving a balance to be disposed of 
The Directors propose lo place to the 
depreciation of machinery account 
Carrying forward the balance 
3,283 
12 
(J 
1 
3. d. 
0 3 
9 10 
' 6 
1 5 
345 19 8 
€3/;42 18 8 
1. 10 0 
9:- 9 
215 
9;-;l 
£3,C42 lb 8 
250 
C81 
0 0 
£'m 8 3 
The estimates of the year v/eve based upon 
what is considered to be normal yield, but owing 
to unfavourable weather daring the last four mouths 
of the year, they fell short of estimate by 69,130 lb. 
and as comnared with the previous year sho.v fva 
increase of 1,882 lb. 
Durin<» the year 16/ acres have been manared 
with chemical manures or basic slag. 
The cosi of production averages 37.30 cents per lb. 
of made tea. The amount realised by sale of works 
out at 48.00 cents gross, the gross profi-. bein^ 11.30 
eents ner lb , as against 9'15 per lb. in l'J02, and 
13.20 cents in 1900. 
The new oil engines upon Kandapola estates are 
working well. The Directors have sanctioned the 
erection of a new turbine and a new roller upon 
Devonford estate, and also a new roller upon Frotoft. 
The outlook as regards labour is not without 
anxiety, but, so far, tha estates are sufficieaily 
supplied, and the total Coast Advances is not muon 
increased. 
The following is the total acreage of tea, &c. 
and crops &ecured.for 1902 :— 
Name of Estates. 
KandapoUa (Group) 
Frotoft (Group) 
ErroU 
Devonford 
Acres. 
369 
478 
215 
245 
1,307 
Acres. 
17 
177 
24 
42 
260 
lb. 
155,613 
b21,946 
68 253 
67,752 
413,c64 
The total expenditure iu Ceylon and London morn 
ted to £30,093 8s lid and deducting this from tho 
valufi of the produce a protii is shown of £8,995 Os id. 
to which haa to be lulded the balance of i;261 9s 5d 
brought forward from the previous year, making a 
tosiil of £9,256 9s 7d at tlie credit of profit and losf. 
From the above sum the Directors have transferred 
to the credit of Badulla Factory Account £1,500. The 
iiiterini dividend of 2!- per cent paid on loth Noveni- 
bir, 1902, absorbed £2,500, and Income Tax £102 173 2i 
leaving a biliince of £l,8:>;j 12s 5d out of which it is 
proposed to pay a further dividend of 4^, per cent, 
making 7 percent for the year, and lo cany forward 
to next account the sum of £35::! 12h od. The following 
is a comparison of results ob''. lincd during the period 
covered by tiiiu report with those secured during the 
previous year : 
1902. 1901. 
Yield of made tea per acre 560 1b 5201b. 
Cost fob Colombo per lb tea 4'54 pence 4"64 pence 
Price realised for crop 7 02 pence 6'90 pence 
The yield from the Company's properties during the 
past year was satisfactory, and the quality of the tea 
showed improvement, the increased average price 
having been obtained on a less f.tvourable market, 
Cultivation on the Company's properties has been well 
maintained, and the Tea is reported to b3 in excellent 
heart and condition. Tiie coffee and cocoa crops both 
exceeded expectations, and returns from these cultiva- 
tions have added to the year's profits. No plumbago 
has been mined during the year, work having been 
confined to the low level tunnel referred ta iu the last 
report. In driving this tunnel solid rock has so far 
been encountered, and progress has been slow, only 
138 feet having been cut during the year. The cost 
of this, together with the erection of a small oil engine 
and ventilating fan, has amounted to £359 Is , and this 
h'ls been charged against the amount previously set 
aside for this purpose from the profit on former sales 
of plumbago. The acreage of the Company's property 
is now as follows : — 
Tea, 4 years old and over 3,076 acrcfl. 
do Planted November/December 1899 14 do 
do do 1900 40 do 
do do 901 4'J do 
do do 902 4 0 do 
Area under Tea 2,216 do 
Area under Coffee and Cocoa 287 do 
Area under Fuel 407 do 
Forest, I'atna, Roada and Streams 728 do 
Total area 
3,638 acres, 
Mr. F C Gubbius, the Director who retires by rota 
tio3, being eligible, offers himself for re-election. 
Mr P 0 Oswald a member of the Board, retires o 
this occasion, and, being eligible, offers himself fo 
re-election. Messrs Deloitte, Duver, Griffiths & Uo.i 
the Auditors, also offer themselves for re election- 
— By order, .T. Alec Roberts, Secretary. 
London, 5th lilay, 1903. 
OUVAH COFFEE COMP.\NY, LIMITED. 
REPORT 
to be presented to the Eighth Ordinary General 
Meeting of the Company, to be held at No 5. Dowgite 
Hill, London, on Thursday, the 14th day of May, 1903. 
The follov.'ing annual accounts are now presented to 
shareholders, viz : — Baiauos sheet made up to 31st 
December, 1902. Profit and loss account for the year 
ended Sist December, 1902. The recoipts from the sale 
ot produce were as under : — Tea from t!ie Compmy's 
own estates 1,161,250 lb. Tea made trora bought leaf 
94 0791b, Total l,2;>5,o29 lb.— -fo6,740 5i 51; Coff-.o 
45(5 cwts l qis. 6 lb £1,748 lis lOd; Cocoa 204 cwcs 2 q; s. 
19 lb. £ )39 9s 01 ; Sundry sales iu Ceylon £11 23 101.— 
Total ceeeipta £39,038 9s Id, 
KANGALLA TEA COMPANY OF CEYLON. 
REPORT OF TIIE DIRECTORS 
for Hie year ending 31st December, 1902, to be 
submitted at the Annual General Mgetiiig or 
Sliareliolders, to be held at the OHioes of the 
Company, on Wednesday ISth May, 1903. 
The net profit for the year amounts to £977 ITs 
41; to which haa to be aided tbe balan.ce brought 
forward from 1901 £201 8s 4d.— Tot.U £1,170 5i S\. 
Which sum the Directors now propo^o to deal with 
as follows : 1. In writing off for Depreciation of 
Machinery, &c £100 0i0d;2. In payment of a Divi- 
dend (tree of Income T.iX) of 3 p^r cent for the year 
£'5i3'.> Os 01 ; 3. I i carrying forward the balance of 
£119 53 8L— Tot.\l £1,179 5s 8d. 
