522 
THE TEOPICAL AGRICULTURIST. 
[Feb. 1, 1904. 
GANGAWATTA ESTATES COMPANY OP 
CEYLON, LIMITED. 
THE REPORT.^ 
Directors :— Messrs. T G Hayes, S H Hayes aud W 
Anderson. 
Acreage : 
Tea in full bearing ... 335 acres 
do partial bearing . . 5 do 
Fuel trees ... . . 5 do 
Grass land ... ... 10 do 
Total ... 355 acres 
The Directors beR to submit theii; Seventh Annuil 
Beport and Statement of Accounts for the year ended 
3l9t December, 1903. The total crop of tea secured 
for the year, including 20 lb brought forward from 
1902, amounts to 183,455 lb against an estimate of 
180,000 lb. To date 173,715 !b have been sold in Col- 
ombo, and have netted ReO.Sie ^O or 40 20 cents per 
lb against 37'85 cents for the whole of last season's 
crop. The balance of the crop has been estimated at 
38 cents per lb. The yield per acre has been 547 lb as 
compared viilh 560 lb last year. The cost of production 
including 3'54 cents per lb spent ou manure and 
kindred operations, works out at 26'31 cents 
per lb as" against an estimate of 26 "43 cents. 
120 acres on the Gangawatta, division were 
"manured with artificial, and, in addition, prunings 
were buried or bulk applied to 93 acres. The 
working account shews a net result of R25,273'33, 
to which have to be added balance from last season 
E418'60, and transfer fees EIO. Total R25,701-93. 
Out of this has been paid an interim dividend of 3 
per cent absorbing E5,355, and Bl,500 has been 
carried to Reserve Account. After providing for 
interest on mortgage, for Superintendent's com- 
mission, Auditor's and Secretariat fees, and for 
Depreciation, there is an available surplus of 
R13,892 96, which the Directors propose should be 
apportioned as follows : — 
To final divdend of 7 per cent, making 10 per 
cent for the ye8,r R12,495, to Directors' fees R1,000, 
and to balance to next season R397'96. Total 
B,13,892-96. 
During the past year the mortgage has been re- 
duced by ElO.OOO to R25,000. The crop for 1904 
is estimated at 180,000 lb. to be produced at a cost 
of 26"85 per lb,, including R5,650 for manure to be 
applied in one form or another to 120 acres, and 
for the burial of prunings with Slag on a small 
further area. In terms of the articles of Associa- 
tion Mr S H Hayes retires by rotation from the 
Board of Directors bat is eligible for re-election. 
The appointment of an Auditor for the current 
year rests with the meeting. — By Order of the Direc- 
tors, George Steuabt & Co., Agents and Secretaries. 
Colombo, 28th January, 1904. 
THE HIGH FOREST ESTATE COMPANY. 
REPORT OF THE DIRECTORS. 
ACREAGK. 
Tea in full bearing 1,072§ Acres 
Do partial bearing .. 33^ ,, 
Clearings ... .. .. 7 „ 
Wind Belts and Timber Clearings 94 „ 
Grass, Scrub, &c. 48 ,, 
Jungle and Patna , . . . 356 ,, 
Buildings and Roads 19 ,, 
Total .. 1.630 Acres, 
The Directors have now the pleasure of presenting 
to the Shareholders the Accounts of the Company for 
the past year. The Crops secured amounted to 451,897 
ferred to the Coast Advance Reserve Account and 
that a sum of RlO.OOO be transferred to a Reserve Fund 
for the equalisation of Dividends, and that the balance 
of E5,561'58 be carried forward to the current 
season's account. The Expenditre on Capital 
Account during the past year amounted to- Rll, 837-15. 
During the year a final Call was made of RlOO per 
Share on the 500 part-paid .shares, payjvble ou the 1st. 
of January and all Calls have now been paid up 
making these 500 Shares fully paid up and ii oreas 
itig the called up Capital of the Company to Bl.OOO.OOO. 
Negotiations aie proceeding with the Government for 
the construction of a free road from High Forest Fac- 
tory to Brookside, to connect with the Udapussellawa 
Eailway Extension, which will be of very great benefit 
to the Estate. The Crop estimated for the current 
year is 475,155 lb on an expenditure of B134,026-39, 
and on Capital Account it is estimated that a sum of 
R5,770 will be required to complete the erection of 
Machinery required to deal with the increasing crops. 
In terms of the Articles of ./A ssociation Mr. G H Alston 
now retires from the office of Director, but is eligible 
for re-election. The appointment of an Auditor for 
the current year rests with the meeting. By order of 
the Directors, Whittall &Co.. Agents and Secretaries 
lb Tea (being 10 897 lb of Tea in excess of the Esti- 
mate) which realised »n average net price of 50-09 
cents per lb. against 42-68 cents per lb in 1902. 
After writing off the sum of R4,007-82 for Deprecia- 
tion of Buildings aud Machinery, the amount at credit 
of Profit aud Loss Account for the year's working 
was R93,75-2-48, equal to 9-87 per cent on the paid 
up Capital of the Company, to which falls to be added 
the bal ance of R21, 809*10 brought forward from 1902. 
On 5th August last, an Interim Dividend of 2^ per 
cent was paid, and the Directors now recommend that 
a Final Dividend of 7i per cent be paid, making 10 
per cent for the year, that a sum of Ro.OOO be trans- 
Colombo 26th January, 1904. 
Kola Nuts, — In view of the continued scarcity of 
kola in the prinoipal markets of the world, it is in- 
teresting to note that the West Indian Bulletin con- 
tains an article dealing with kola, mostly from a 
botanical point of view. Sir D. Morris, Commissioner 
of Agriculture for the West Indies, has been in com- 
munication with the Colonial Office, asking them to 
obtain through the Director of Kew Gardens, seeds 
or plants of any varieties of Cola from West 
Africa yielding nuts with two large cotyledons, as 
they are more prized. To this Sir W. Thiselton-Dyer 
replied with a memorandum on the technical aspect 
of the question, stating that the discrimination of the 
sereral kinds of kola has been f^ttended with oonsider- 
able difficulty. It appears, however,; that the kola- 
seeds with two cotyledons produced in Sierra Lsona 
are the desired product, and he suggests that the 
Government of the Colony should transmit to Kew 
two or more parcels of these seeds. If this can be 
Buooessfnlly done, plants will be raised in due course 
and transmitted to the West Indies. The memo- 
randum referred to points out that the reason why 
the kola-nuts with four cotyledons (0. acuminata) are 
less prized than those with two (C. vera) is in the 
proportion of caffeine and theobromine they con- 
tain, the respective figures being according to Heckel 
1"05 per cent, and 2 35 per cent. " Large " kola-seeda 
(C. vera) might no doubt be obtained from Sierra 
Leone, which has an old reputation for good kola 
or from the Gold Coast ; but it is pointed out that 
the mere fact of the seeds havinc two cotyledons is 
not a sufficient character to distinguish the seeds of 
G vera from those of certain other species of kola 
which are useless — e.g., ot C. pachycarpa. As regards 
the commercial aspect of the question, says the Chemist 
and Druggist, there is always a fair market for small 
parcels of kola in London, but it is readily admitted 
that the demand has considerably lessened during 
recent years, owing to the fact that France — one of the 
largest consumers — now imports direct from West 
Africa. Shippers from Jamaica have, however, not 
yet appreciated the fact that the^nuts should be pre- 
pared in such a manner that they may arrive in 
London absolutely sound, 
