THE TROPICAL AGRICULTURIST. [Nov. 2, 1903. 
course of the next few years ; even now, on the Kalu- 
tara side, the Government upset price is E40 per 
aero. In developing this property the labour question 
will be a difficult matter ; the resident Sinhalese popu- 
lation is not large and there are few Tamils in the 
District at present. (Signed) E W HARBISON. 
CuUoden, Aug. 11th, 1903. 
THE SEREMBAN ESTATE RUBBER CO., 
LIMITED. 
[EXTRACTS FROM THE PROSPECTUS,] 
Authorised capital R1,000,000. Provisional Directors: 
Edward S Grigson, Esq.; W S T Saundtrs, Esq.; Hon 
MrW H Figg. Bankers ; The National Bank of India, 
Limited. Solicitors : Messrs Julius & Creasy, Colombo. 
Agents and Sercretaries Messrs Whittall & Co. 
The object of this Company is to purchase the 
Seremban Estate, situated in the state of Negri Sem- 
bilan of the Federated Malay States from the present 
holders— Messrs E S Grigson, W S T Saunders, W H 
Figg, L Davidson. D R Marshal!, V R Wickwar and the 
representatives of the late D Cameron and the late E D 
Harrison— and to further develop the cultivation of 
Para -Rubber and other products, for which the climate 
and land is eminently suitable. The land is held under 
Government Lpases for 999 years, at a quit rent of 
80 dollar cents per acre per annum for 2,840 Acres. 
50 do do do 662 do 
Total 3,492 Acres. 
Exceptional transport facilities are afforded on the 
property. A good cart road passes through the culti- 
vated area to Seremban, the Capital of the State (a 
distance of 4 miles) : Port Dickson is only 24 miles 
from Seremban, with which it is connected by a 
Railway. Another^ metalled cart road recently con- 
structed passes through the Eastern and Southern 
Divisions of the Estate. The Southern extensioH of 
the- Federated Malay States Railway now under 
construction affords direct communication with 
Seremban and passes through two miles of the 
property. Arrangements can most probably be 
made with Government for a siding for Estate purposes. 
It will be noted that in spite of the exceptionally 
favourable situation the quit rent payable is only 30 cts. 
per acre per annum for over |ths of the area leased. No 
land similarly situated is now available and the present 
quit rent fixed by Government is f 1 per acre with a 
possibility of an increase. The cultivated area con- 
sists of 470 acres, and a further 50 acres will be added 
by the end of the year. Originally 420aore3 (four fields 
of 105 acres each) were planted with Liberian Coffee, 
later, in 1898, this area was planted throughout with 
Para Rubber 20 ft. by 20 ft., and again with the last 
three years was quincunxed, since when eight acres 
have been acquired by the Government for Railway 
purposes. At present the 
CENSUS OF RUBBER TREES, 
stands approximately : — 40.000 trees 5| years on 1st 
January, 1904. 10,000 trees 3§' years on 1st January, 
1904. 30,000 trees 2| years on 1st January, 1904. The 
new clearing will give an additional 20,000 trees, 
selected plants being in readiness for immediate 
planting. It is generally admitted that the growth of 
Para Rubber in the Malay States is much quicker and 
finer than in Ceylon, and returns should be proportion, 
ately larger, but in estimating probable receipts o 
Rubber, figures have been based on results obtained 
here. In calculating the probable cost of cultivation 
and tapping at Rl per pound of Rubber produced, 
local figures have again been followed to some extent. 
The rate fixed upon may be considered somewhat 
excessive when the trees are 8 years old and upwards, 
but there will always be a number of younger trees 
coming into bearing for which provision must be 
made, and any saving that may be effected on the 
working will be a set off against further depreciation 
In the value of the produce. Small quantities of 
Rubber from this Estate have recently been sold in 
the Colombo market realising a nett average of RS'OO 
per pound including scrap. The greater part of the 
Coffee originally planted still exists and a Crop of 
500 piouls is estimated for 1904 after which it is not 
expected that there will be any substantial revenue 
fiom this source. The property is to be purchased 
as from 1st January 1904 for E450,000 valued as 
follows : — 
412 Acres Rubber and Coffee ) -ooan ann.nn 
100 do New Clearings | R360,600 00 
2,980 do Forest .. ..R 80,400"00 
3,492 Acres R450,000-00 
It is intended to open up the available forest as 
rapidly as possible, 200 acres to be undertaken in 
1904. The Estimated cost of clearing and planting 
with Rubber is $40 (say R60-00} per acre. The further 
outlay on Capital Account for 1904 would be about 
$6,500 (say R10,000-00) to provide suitable aocommoda. 
tion for curing the increasing quantities of Eubber, 
and advances for establishing an efficient Labour Force. 
It is admittedly difficult to frame an Estimate of the 
PROBABLE PROFITS FROM RUBBER CUTIVATION, 
but judging by the great and increasing demand 
for qualities of Rubber, such as the Company's pro- 
perty will produce, and taking into consideration the 
fact that supplies cannot largely increase for some 
time to come, a profit of Rl*75 per lb for the firot three 
years should be well within the limits of reasonable 
expectation. From 1907 onwards the nett profits are 
calculated at Rl"50 per lb only, and the greatly 
increased returns which by that time may be lookey 
for from the younger parts of the Estate should ful d 
compensate for any shrinkage in valre, while the 
Crops thereafter will go on steadily improving as the 
trees advance in age. Calculating on the above basis 
the figures, for 512 acres now in cultivation, work 
out as follows : — 
Estimated Net Profit per Net 
Crop lb. lb @ R. Profit R. 
1904 .. 20,000 1-75 35,000 
1905 .. 34,000 1-75 59,500 
1906 .. 40,000 1-75 70,000 
1907 .. 60,000 1-50 90,000 
1908 ... 80,000 1'50 120,000 
1909 ... 90,000 1-50 135,000 
In addition to these profits it is believed that there 
will be a fair return from the Coffee in 1904. The 
Company have a most valuable asset in the large 
reserve of very fine land which the estate possesses 
and profits should grow into very big figures as the 
New Clearings come into bearing. It may be men- 
tioned that the Eubber which comes from the in- 
digenous sources in Para itself, and which represents 
BO large a proportion of the world's supply cannot 
compete with Cultivated Rubber in the matter of cost, 
the Export Duty alone being 23 per cent, and charges 
naturally increase as Forests more remote are tapped. 
If therefore prices fall, it must affect the main source 
of supply before the cultivated area is touched, 
TIN 
has been found, and it is being profitably worked in 
the near neighbourhood of Seremban, and the Com- 
pany has the option of dealing with its mineral 
resources, should opportunities offer. It may also 
be added that the Jungle, owing to its proximity to 
town, is becoming yearly of more value for timber and 
firewood. There are good connections of Labour on 
the Estate, and Mr Wickwar, the Manager, does 
not apprehend difficulty in increasing the force 
as required. The opening of new land is done largely 
by the natives of the Straits Settlements, Tamil 
labourers being employed on the general working of 
the Estate. 
Reports by Mr Wilson Wood and the late E D 
Harrison may bejseen. Owing to the deaths of Donald 
Cameron and E D Harrison, two of the Proprietors 
of Seremban Estate, it is impossible now to state 
