i^OV. 2, 1903.] mt TROPICAL 
AaRICTTLTURIST. 
349 
which led the vendor to purchase the property from 
the late proprietors, after having it reported on and 
valued by Mr R W Harrison of Culloden. From a 
perusal of Kr Harrison's report, a cop7 of which 
accompanies this prospectus, it will be noted that the 
Rubber is considered equal in growth to that in the 
Kalntara District, and Mr Harrison also thinks well, 
of the prospects of the Tea if properly cultivated. 
The objects which the promoters of the Company have 
in view are to develop the Estate as rapidly as pos- 
Bible in Rubber and to bring the Tea and minor pro- 
ducts into a thorough state of ouUivotion. For the 
property as it stands including the Tea and othor 
products, also a well equipped Foctory the vendor is 
prepared to accept R290,000, and it is estimated that 
a further sum of R310,000, will suffice for opening and 
bringing into bearing 
1,500 ACRES OP PAHA BUBBEB. 
The total amount of Capital necessary therefore for 
the above scheme is R600,000, and it is expected that 
this sum will cover all flotation, preliminary, and 
management ezpenses, upkeep for 6 years and 
the erection of a suitable building for drying and 
curing the Rubber Crop. It is contemplated that 
on the completion of the planting of the 1,500 acres 
above referred to further extensions should be 
taken in hand. The profits from the tea during 
the next 2 years may not be very considerable 
as the cost of production will be rendered somewhat 
high by the outlay necessary for manuring, thorough 
draining of the Tea Estate and for redeeming such 
abandoned Tea as may be deemed advisable. Addi- 
tional labor both Tamil and Sinhalese will be 
introduced for the purpose, and the crop, which at 
ft moderate estimate has been placed at 120,000 lb 
Tea in 1904, should, with the assistance of manure 
and a labor force sufficient for plucking it, be in- 
creased to about 200,000 lb about 3 years later. Mr. 
Harrison's Report is considered to justify these 
expectations. The 
GREEN TEA 
manufactured on the property bas^for some time past 
realised very satisfactory prices, as much as 39 cents 
having been obtained in some instances. In estimating 
profits however it is considered advisable to anticipate 
a much lower figure than hitherto obtained. As 
legards possible profit from 
TE.\ 
between 1st January next and 31st December, 1910, 
it is difficult to speak with any degree of certainty 
owing to market fluctuations, but it would appear 
not unreasonable to expect 6 to 8 cents per lb profit 
on a probable output of 1,250,000 lb of Tea. It is 
estimated that the old. Rubber and the Arecanuts, 
&c., will possibly yield an income of from R15/17,000 
over the same period. There are very few data to 
go on to help to frame any reliable estimate of the 
yield from 
RUBBER 
trees over 10 years of age, but it is generally con- 
ceded that an estimate of 35 to 40 lb per acre in 
the 6th year, rising to 150 lb per acre in the 10th 
year is on the safe side. The cost per acre for 
cultivation, management, &c., should not exceed R30 
per acre ; and 50 cents per lb of Rubber for collecting, 
curing, &c., is considered a liberal estimate. At 
present Ceylon Rubber is selling at over 4s 6d per 
lb in London, and over R3 locally and even allowing 
for an eventual drop of Rl per lb in the market, 
there still remains a very handsome profit. All ex- 
tensions and upkeep of Rubber not in bearing will 
be debited to Capital Account but the upkeep 
of the Tea acreage, minor products and of each 
year's Rubber Clearings as they come into bearing 
will be debited to Profit and Loss Account, and the 
surplus on sales will be available for distribution to 
the Shareholders, It should be mentioned that there 
la a iiM piomiae of 
PLUMBAOO 
being found on the property as there is a great 
deal of this mineral throughout the District, and this 
may prove a considerable source of income ; but this 
has not be taken into consideration in appraising 
the value of the Estate. The only contract in existence 
in oonnectioa with the property to be acquired, apart 
from the contract with the vendor, is that of the 
sale of the crop from the minor products before 
mentioned, which has been sold up to end of March, 
1904, and proceeds received by the late proprietors. 
Pending the registration of the Company the services 
of a first clasa Superintendent and the necessary 
Assistants will be engaged, a survey made of the 
proposed extensions, and everything put in train so 
that felling may be started on 1st December, 1903. 
Colombo, 20th September, 1908. 
MR. R W HARRISON'S REPORT ON THE PROPERTY 
REl'ERRED TO. 
This property is situated in the Udugama District 
of the Southern Province 16 miles from Galle, and 
lies between two Government cart roads leading to 
Udugama, The property is said to consist of; — 
Tea with Factory, Lines, Small 
Bungalow .. -., 480 Aores 
Abandoned Tea, Minor Products, 
Reserve Land, (Jungle fern, swamps) ... 6,858 „ 
7.338 Aorea. 
About 100 acres of tea, the block nearest the Factory, 
is good and would give large returns if it were 
cultivated. Over all the rest of the tea there are a 
great many vacancies, but the whole of the 480 acres 
is good enough to cultivate and with careful treat- 
ment and systematic manuring, the present yield of 
about 200 lb per acre, could be easily doubled in the 
next two years. Some of the abandoned tea might 
be reclaimed. All the tea land has been badly opened 
in the first instance and has been much neglected 
subsequently. Before cultivation could be adopted on 
a-.Iarge scale it would be necessary to drain the whole 
place ; at present there is very great loss of soil from 
wash. In my estimate of the value of the tea I have 
allowed for the money, which would have to be spent in 
redraining and general improvements. The Factory 
which is situated about a mile from the nearest tea, is 
Ir sufiicient capacity to deal with double the preseni 
foop and is amply equipped with Machinery at present, 
joongh probably another drier and sifter will be 
required later on. The motive power is a vortex 
turbine. The growth of the few Rubbers there are on 
the place is distinctly good, and compares very favour- 
ably with trees of the same age in other districts. I 
have no hesitation in saying that a very large extent 
of the reserve land is well suited for the cultivation of 
this product. Out of the 6,604 acres of reserve on the 
Maminadola block, I estimate that there are 1,000 
acres o£ fern land, on which I place no value at all; 
the greater part of the remainder, with the exception 
of some of the steeper ridges, which are more or less 
wind blown, is suitable for Rubber. There are a great 
many Arecanut trees on the Ginedomini and Saumarez 
blocks, which are at present leased for R450 per an- 
num ; with a small expenditure in clearing them of 
jungle growth, the crop might be doubled. 
My valuation is as follows : — R. 
Tea with Factory, &c. 480 Aores 115,000 00 
Minor Products 5,000 00 
Reserve land and abandoned tea 6,858 
acres less 1,000 aores useless fern laud 
at R30 per acre 5,858 acres 175,74000. 
295,74000 
At this figure the purchase of this property should 
be a sound investment either to a Company or Capitalist 
desirousof developing the whole property or to a private 
individual, who mig-ht open to a certain extent and sell 
oS. what he does not want. The value of land suitable 
fgr Rubber is certain to increase very macb in the 
