^8 
THE TROPICAL AGTEtlOULTURlST. [AtJG. 1, 1903. 
Company. 
Alliance* . . 
Ceylon 
Plantations 
Dimbnla 
Valley 
East. Produce' 
General Cey- 
lon* 
Imperial* 
Nuwara Eliya* 
Guvah 
Ragalla* 
S:;otti3h Cey- 
lon 
Standard ... 
Yatiyantota... 
Total or 
average 
Appropria- 
Profits, tiona to Divi- 
Reserve or dends. 
Depreciation. 
— , ,. • ^1^.^ ^ 
1902 1901 1902 1902 1902 
& & £ p.c. p.o. 
8,275 1,000 1,000 6 7 
1901. 
7,560 
37,200 37,975 5,000 10,000 15 15 
14,000 
24,060 
10,720 
4,360 
13,690 
6,060 
5.680 
4,150 
8,960 
5,960 
13,950 2,500 500 
29,900 11,490 11,000 
8,200 
3,170 
17,000 
8,600 
7,000 
3,200 
10,375 
8,160 
2,000 2,000 
500 500 
2,000 2,000 
5u0 1,500 
200 1,300 
430 495 
— 1,500 
1,000 1,000 
3 3 
nil nil 
3 3 
6 6 
6 7 
4| 4i 
8 5 
15 15 
% 5 
142,400 156,405 26,620 32,795 6 42 6 54 
It will be seen that the total profit was about 10 
per cent more in 1902 than in 1901, while the appro- 
priations to depreciation, &e., amount to nearly 20 
per cent more. All of the companies, however, except 
the Alliance, the Dimbula Valley, the Nuwara Eliya, 
and Ouvah, made inroads on the balances brought 
forward, while all except the Oavah carried sums of 
varying amounts (as much as £8,000 in the case of 
Eastern Produce) to the debit of block account, 
thus relieving revenue to that extent. To mike 
this clear, and also to show the relative financial 
soundness of the various companies, we have 
compiled, as accurately as is possible from the 
varying material in the different repoirts, the following 
further table :— 
Company. 
Additions 
to block 
during 
year. 
Total Re- 
serves &o. 
Capital Account 
< ■ , 
Debit. Credit. 
Alliance 
Ceylon Tea Plant 
Dimbula Valley 
Eastern Produce 
General 
Imperial 
Nuwara Eliya 
Ouvah 
Ragalla 
Scottish 
Standard 
Yatiyantota 
£ 
£ 
& 
£ 
920 
1,240 
75 
1,655 
106,130 
95,900 
345 
6,680 
3,720 
8,720 
31,620 
15,000 
1,320 
6,425 
5,420 
1,210 
765 
2,680 
1,420 
3,590 
2,150 
4,350 
1,000 
995 
76 
1,325 
7,260 
2,365 
830 
14,110 
12,800 
240 
2,030 
7,180 
17,655 184,276 131,070 18,545 
Prom this it appears that, overhead, appropriations 
to depreciations have been offset by additions to block 
of about one-half the amount. 
"As regards the heavy debits on capital accounts, 
these are, of course, in most cases offset by good 
accumulations of reserve — notably in the cage of the 
Ceylon Plantations, the Eastern Produce and the 
Standard. As regards the Ceylon Plantations Company 
it may be noted that about £65,000 out of the reserve 
has been sunk in coconut plantations, which are 
expected to yield good profits before long, and this 
company is to be specially commended in thus secur- 
ing a second string to its bow, rendering it not entirely 
dependent on the uncertain profits from tea alone. 
The Eastern Produce Company, too, has a reserve 
double the amouut by which its blook exceeds its 
capital and while steadily improving its property by 
betterments over a series of years, it has steadily 
reduced its debenture debt by a sinking fund of 
£8,500 per annum, this sinking fund still being in ex- 
i-stence The Standard Company sails rather close to 
the wind— practically its entire reserves being sunk in 
improvements ; but the company is renuted to possess 
very fine estates indeed. Of course, these figures mast 
be taken in conjunction with the size of as well as 
with the amouut of capital issued by each company, 
butthey will help investors to judge for themselves of 
the soundness or otherwise of the various undertakings 
Inregard tothe future the establishment of a rational 
relation between supply and demand seems likely to 
result in a more profitable future for the industry both 
m India and in Ceylon while the greater solidarity that 
IS now beins; manifested among the planting commnni- 
ties, as represented by the Ceylon AssociAtiou in 
Liondon and the Indian Tea Association, 13 likely to 
have a decided influence for good ou all that cc.neerns 
the trade. The imposition of the Guveiament directed 
cesses both in India and Ceylon (about which our 
readers have from time to time been informed in these 
columns) should provide sinews of war for the various 
campaigns for developing a taste for tea-and es- 
pecially for British-grown tea— in the many new 
markets of the world. In the bi-weekly share reports 
supplied to us by the Indian Tea Share Exchmge 
our readers will find the market for this important 
group of secuiities closely followed."- if & G Mail, 
iwLav 29, ' 
PLANTING NOTES. 
Sale of a Valuable Orchid,— At a sale of 
o.-chida held by Messrs, Piotlieroe and Morris at 
Clieapside, yesterday, a plant of Odontoglossum 
ciispuni Kayrnond Crawshay (described as a fine 
plant; with two bulbs ami one new growth) realised 
250 guineas.— London rijwe*. May 29. 
An India-rubber Dog.— a passenger crossing 
recently tioni Boulogne to Folkestone carried on 
board a basket, which, he said, contained a dog, 
which the authorities informed him required a 
special permit, and, after much altercation, the 
dog turned out to be only India-rubber, \vhich the 
passenger was having a I'oke with at the officials' 
expense.— /?ic?*a Rubber Journal, May 25. 
INDIA-IIUBBER, MEXICO.— I learn that the 
Receiver for the debenture holders is still tryin" 
to find a purchaser for the Esmeralda property oi 
the late company, but apparently, there is no 
rush of would-be buyers. In the meantime the 
Receiver remarks : "Tlie return, if any to the 
debenture holders depends on the amount realised 
by the sale of the e^tOi.tes"—India-Bubher 
Journal, May 25. 
Progress in Malacca— is very marked in 
recent years and the Administration Report 
for 1902 just issued contains much of in- 
oerest to the tropical planter. The annual 
trade of Malacca when taken over from the 
Dutch in 1825 was worth £245,510 or say 
$1,227,550. It has increased in value five 
times since and has doubled in the last ten 
years. The area planted in Malacca with 
tapioca is estimated at over 60.000 acres. 
There are 25 steam factories. The export 
returns give the value of tapioca exported 
at $1,807,000. This includes tapioca from the 
Negri Sembilan. The Malacca crop is prob- 
ably worth about $1,500,000— say 30,000 piculs. 
In a few cases Para rubber is being planted 
with the tapioca and is doing well. The 
tea estate at Durian Tunggal is stated to 
have yielded 35.000 lb. of tea. This finds a sale 
on the Loudon market at 8d per lb. 
