412 
THE TROPICAL 
AGRICULTURIST. [Deo. 1, 1903. 
of the tea market and the successful manufacture of 
green tea for America contributing to this result. The 
total area of laud now under cultivation is 2,019 acres, 
comprising; — Tea in full bearing 2,224 acres. Tea in 
partial bearing 207 acres. Cocoa, coffee &c. 188 acres 
equal to 2,619 acres. 
Out of the year's pcofits the Directors have placed 
the usual sum of £1,200 to extensions and depreciation 
account, bringing the amount at the credit of that 
account up to £12,000, and they have also paid the 
Bum of £623 123 lOd. being the capital account 
expenditure during the season on buildings and 
machinery. The estates are reported upon as being 
in good condition. As foreshadowed in our last 
report, a large sum has had to be expended on 
manuring and the Directors have decided to revert 
to fully as liberal a cultivation of the estates as was 
done in past years. 
Your Directors are fully satisfied with the work of 
the staff in the Company's employ, and of the Agents 
in London and in Colombo. Your Directors have 
accepted with extreme regret the retirement of Mr 
Cameron from the Board after much active and useful 
work in the interest of the Company since its 
formation. The Directors retiring by rotation are Mr 
Evelyn Heseltine and Mr Wharram Megginson, who, 
being eligible, offer themselves for re-election. 
London, October 8th 1903. 
MATUEATA TEA COMPANY. 
The Directors herewith beg to submit their sixth 
annual report and balance sheet for the year ending 
30th June, 1903. 
After bringing forward the unappropriated balance 
of £2,834 13s 8d from last year's account, and after 
payment of debenture interest and London charges 
(Directors' fees, &c.), the net amount at credit of profit 
and loss account is £4,312 3s lOd. 
An interim dividend of 3 per cent, has been paid on 
the preference shares for the half-year, amounting to 
£120 0 0. And the final 3 per cent, was paid on 
the preference shares on 30th June, maklog 6 per 
cent, for the year, amounting to £120 0 i'. An 
interim dividend of 4 per cent, was paid on the ordi- 
nary shares in May last, absorbing £320 0 0. It is 
proposed to pay a further dividend of 8 per cent, less 
income tax, on the ordinary share capital, making 12 
per cent, for the year, and which will absorb £640 0 0. 
Thus leaving to be carried forward to next year a 
balance of £3,112 3 10. Total £4,312 3 10. 
The crop during the past year shows a decrease of 
15,546 lb. compared with that of 1902, The average 
price is 8-30d as against 8-17d for the previous year. 
The falling-off in crop is owing to unfavourable 
weather in Ceylon, and almost all estates have suffered 
loss of crop from this cause. 
It is a matter of congratulation that the average 
selling price of our tea shows an advance, as the 
general average of high-grown tea such as ours marks a 
distinct decline in this respect during the past season. 
A further £500 of the debenture debt has, during the 
past year, been paid off, reducing the amount to 
£5,500. In all, since the formation of the Company, 
£2,500 of the debenture debt has been redeemed. 
Mr George Alderson-Smith retires in a accordance 
with the Articles of Association, and, being eligible, 
offers himself for re-election as a Director. 
THE GOOMERA (CEYLON) TEA ESTATES 
COMPANY. 
IIEPORT OP THE DIRECTORS. 
The Directors beg to submit herewith their ninth 
annual report and balance sheet for the year ending 
30th Juue, 1903. 
The accounts after paying debenture interest and 
London expenses, show a profit of .£188 3s 8d which 
deducted from the debit balance of £1,771 5s 4d 
brought forward from last year, leaves a loss of £1,583 
Is 8d to be carried forward. 
The total crop from the Company's estates amonn- 
ted to 241.8581b realising a net average of 5"83d per lb 
against 242,4881b harvested from the Company's 
estates the previous year, which realised a net averaee 
of 6d. " 
The past season has not been a favoarable one for 
yield on most estates, and in consequence the 
Goomera crop has proved very disappointing whilst 
the tea has not shown the good flavour which 
characterised it in the previous season, although the 
plucking and manufacture were done with equal care. 
Liberal cultivation has been consistently carried on 
throughout the year. 
The Manager of the Goomera estate had six months' 
leave of absence to come to England on account of his 
health, during the year. 
The estimate for the new season is 170,0001b from 
Goomera, and 95,0001b from Hunugalla, against a 
crop of 132.661 lb from Goomera, and 84,039ib from 
Hunugalla last year (exclusive of bought leaf). 
Mr T C Owen retires in accordance with the 
Articles of Association, and being eligible, offers 
himself for re-election. 
THE HOKl^JSEY TEA ESTATES COMPANY, 
LIMITED. 
SEVENTH ANNUAL REPORT 1902—1903. 
The Directors beg to submit to the Shareholders the 
Report and Audited Accounts for the year closing 30ih 
June, 1903. The crop of tea has weighed out 163.530lb„ 
against last year's of 168,749 Ih., or a decrease of 5,219 
lb , of made tea. The cost of production has been 
27-44 cents, against last year 26-62 cents, or in sterl- 
ing 4id. per lb. in Colombo, against 4Jd. per lb. last 
year. The average selling price for the crop has been 
42-35 cents, equivalent to a London price of 7|d. per 
lb. gross, against 40 cents last year, or 7^d. per lb. 
gro3s. The weather has been very adverse duricg the 
past season all over Ceylon, but a higher price has 
rather more than compensated for the smaller outturn, 
and the profit shows an increase of £158 19a 2d. over 
the corresponding period. The Directors are glad to 
say that the tea keeps its excellent quality, and to 
report that the Garden ia in good order. The new 
Factory is doing excellent work and has materially 
reduced the cost of production. 
The Audited Accounts show that, after paying Fixed 
Charges and Prefreence Dividend for the twelve 
months, there is sufficient to pay off the amount of 
£136 163 9d. outstanding at Preliminary Expenses 
Account, and to carry forward the small Balance of 
£14 18s 3d. to credit of next year. 
The Directors desire to express their thanks to 
Mr. W S T Saunders and to Messrs. E Benham & 
Co., the Colombo Agents, for the attention given to 
the Company's business during the year. In accor- 
dance with Articles of Association Mr Walter S 
Sichel retires from the Board, and, being eligible, 
offers himself for re-election. The Auditors, Messrs. 
Singleton, Fabian & Co., offer themselves for re-elec- 
tion. 
Directors.— Charles A. Reiss' and Walter S 
Sichel.— Secretary.— Albin B. Tomkins. 
THE LANKA PLANTATIONS COMPANY, LD. 
Report presented at the twenty-third ordinary 
Annual General Meeting of the Lanka Plantations 
Company, Limited, held at the office of the Company, 
on Wednesday, the 11th November, 1908; at twelve 
o'clock noon precisely. 
The Directors now submit their Report for the 
twelve months ending 30th June last together with 
the balance sheet and accounts of the Company made 
up to. that date and duly audited. 
