348 THE TROPICAL AGRICULTDRIST. [Nov; 2, 1908. 
The following shows the result of the year's 
working, viz. :— 
New Proceeds op Crop. 
£ a. a. £ s. a. 
1,630.537 lb. Tea at an 
average net price of 5'96d' 
per lb. realised ... 40,531 ^10 2 
Ooooa, Cardamoms, Cin- 
chona Bark, and Cinna- 
mon (part estimated) . . 1,446 16 2 
Interest on Account ... 179 19 6 
43,158 5 10 
Expenditure on Estates, 
Messrs George Steuart 
& Co.'s drafts— R435,010 
at an average of 1/4 13-32 
per rupee £29,722 4 8 
Balance of 
Coast Advances 17 4 3 
29,739 8 11 
Bonus to Superintendents-^ 
E7,850 at 1/4 3-32 
526 8 0 
30,265 16 11 
Profit on Crop Account £11,892 8 11 
The General Managers are glad to report that 
the results of last season's working are the best 
for several years, notwithstanding the heavy shortage 
in the quantity of tea harvested. 
With exception of the first three months of the 
season the weather in Oeylon was unfavourable for 
the growth of tea, with the result that the falling off 
in the crops, as compared with last year, amounted to 
nearly 100,000 lb the actual figures being 1,630,537 lb 
against 1,726,241 lb for last seaeon. Fortunately, how- 
ever, owing to the reduced supply both from India and 
Ceylon, values have been much better, the average 
net price realised for the Tea having been 5'96d this 
season, against about 5'.50d last year and about 5'31d 
the year before. Exchange has remained almost 
stationary the average price of the Rupee for three 
months' drafts having been 1/4 13-32, against 
1/4 23-64 The sterling cost of the Tea has been a 
little higher than that for last year owing to the short 
crop, as a small crop costs more to produce, relatively, 
than a large one, the actual figures having been 
about 4id per lb for 1902-3, against 4 1-16 for 1901-2. 
THE PRODUCTS OTHER THAN TEA, 
which were estimated at £1.000 to £1,200, have 
actually realised £1,446 16s 2d the excess being 
mainly due to the fact that more Cinchona was har- 
vested than had been estimated for. This, however, 
cannot be expected to continue, as the supply of bark 
from the old trees is gradually becoming exhausted, 
and the General Managers, in view of this, have 
again thought it desirable to carry £500 of the proceeds 
to credit of the Reserve Fund. The other extraneous 
products have realised about the amount expected, 
and continue to do well. The acreage of the Company's 
Estates is unchanged, but all the Tea recently planted 
is now in partial bearing, and the acreage in full 
bearing has materially increased. The following are 
the figures : — 
K o 
Wattegodde Dimbula 
Hoonoocotna ^otmale 
Tallagalla ^Kalutara 
Ellagalla Matale 
Rutland "!? Hewaheta 
Warriagalla Nilambe 
Sorana Kalntara 
g.S gpq §.2 ■S'^^ ^ 
H H Ph O H 
800 25 Nil 70 895 
584i 15 52 llQi 762 
585 32 25 58' 700 
231 9 15 190 445 
449i 69 17 1271 663 
422| 87i 150 601 1,261 
500 45 75 138 758 
Last year's Estimate of Expenditure on Capital 
Account was £800 to £900, but shortly after the 
Estimates had been framed it was found necessary to 
have an oil engine installed at the Rutland Factory, 
owing to the scarcity and dearneas of fuel. This in- 
stallation (which is working well) and a few minor 
expenses have increased the actual expenditure on 
Capital Account to £1,251 128^ which has been charged, 
as usual, to the Factory and Extension Account. The 
only expenditure actually provided for in the estimate 
for next season on Capital Account amounts to 
between £300 and £400, bat there are several other 
works at present under discussion, which, if decided 
on, would increase this expenditure to £800 to £1,000. 
The Estimates of Crop and Expenditure for next sea- 
son have, as usual, been very carefully prepared by 
the Superintendents of the various Estates, in con- 
sultation with the Ceylon Agents. In view of the short 
returns last year the estimated crops have been pnt 
Sown at very moderate figures, and the General Mana- 
ad hwe evecv hope that, with normal weather, they 
maybe exceeded. 
EXPENDITURE. CROP. 
Wattegodde R 108,870 400,000 ib tea 
Hoonoocotna 79,464 .. ... 280,000 „ „ 
Ellagalla 31,283 .. .. 110,000 „ ., 
Tallagalla 67,675 .. .. 245,000 „ „ 
Warriagalla 70,502 .. .. 250,000 „ „ 
Rutland 59,020 200,000 „ „ 
Sorana 66,684 .. .. 263,500 „ ,. 
Total R483,498 at l/4i=£32,988. 1,748,500 „ „ 
Also about 1.5,000 lb of Cinchona from Rutland, 
10,000 lb Cardamoms, and 15 cwts. Cocoa, 50 bushels 
pepper,6 cwt. Arecfts, from Warriagalla, and 1,303 
,b. Cinnamon from Sorana ; the value of the whole 
of such products being estimated at about £1,000 to 
£1.200. 
The reports from all the estates continue to be 
quite satisfactory, and there appears to be at present 
no serious blight nor pest of any kind likely to inter- 
fere with the favourable growth of the crops. The 
Shareholders will notice that it is proposed to carry 
forward rather a larger balance than usual. This is 
due to the fact that the Company's Ceylon Agents 
have strongly urged a more liberal application of 
manure during the coming season than has been 
allowed during the past two years, This will result in 
considerable additional expense, but will no doubt 
prove most beneficial to the land and lead to better 
crops. ARBUTHNOT, LATHAM & Co. 
General Managers- 
34, Great St. Helen's, E C, 
29th Sept. 1903 
I Total 3,572i 282 J 334 1,295J» 5,484 
* Of which more than 300 acres are planted with 
Cardamoms, Cocoa, Cinnamon and Cinchona. 
NEW RUBBER COMPANIES. 
THE SOUTHEKN CEYLON TEA AND 
RUBBER COMPANY, LTD. 
[KXTRACTS FROM THE PROSPECTUS.! 
Authorised CRpital Rl,000i000. Provisimdl Directors : 
The Hon Mr J N Campbell, the Hon Mr W H Figc;: 
L T Boustead, Esq (to join after allotment). Bankers : 
The Chartered Bank of India, Australia and China, 
Solicitors : M.essis Julius and Creasy. Agents and Sec- 
retaries : Messrs Whittall & Co. 
It is proposed to form a Company nnder the above 
name for the purpose of acquiring and developing a 
block of over 7,(i00 acres of land in the Southern 
Province of Ceylon in Para Rubber and other products, 
about 480 acres being already cultivated in Tea. The 
property is freehold, the original grant being direct 
from Government. Beside the Tea and sundry miuo- 
products such as Coconuts, Arecanuta and Mangol 
steens, (fee. which are bringing in a small annnar 
income, there are about 2,000 Para Rubber Trees (5 
years old) on the property. It was the growth of 
these and the large extent of fine andalating forest 
