Maech 1, 1904.1 THE TROPICAL AGRICULTUKIST; 
against 2670 cents in 1902. The expenditure dni ing 
the past year includes 3 2-1 cents pet lb. tor manuring. 
After deduction ot 000 for Depreoiatiou of Build- 
ings and Machinery, the prutit on working account for 
the year aniounlB to R33,847"39. The interest on loans, 
fees, etc., amounting to R5 6i).i'71, reduce this profit 
to Ii2&.237 08, to whicli hi-.s to be ndded the sum of 
Kl,2]7-18 brought iorward from 1902, thus biingmg 
the I alatico at credit of Profit an.l L".ss Account up to 
R'.^9,451'8I). Out of this profit the Directors propose to 
pay a Dividend of 4 per cent, iib-o bing Rll,lSO, and 
to tninfl'er R15,(i00 to the General Reserve Account, 
leaving R3,274 86 lo be carried forward to next season's 
accounts. During the past year the kum of i'l,.500 has 
been paid to the Standard L fe Assuianc^- Gomp -nv, in 
reduction of the mortgage which now stands at £1,1100. 
The estimated crop fur 1904 i.< 2it5,000 lb. of tea to be 
produced at 28 cents per lb., v?hich allov\'s for manur- 
ing and burying pruning?. The general conditon of 
the Estate is hijthly sati.^factory. In terms of the 
Articles of As-'iocia'-icn iVIr John K. Symonds retires 
from the Hoard of of Directors, but is eligible for re- 
election. The appointment of an Auditor will rest with 
the meeting. 
By Order of the Direotor.s, Co'ombo ComraerGial Co., 
Limited, John G, VVardrop (Manager), Agents and 
Secretaries. 
■THE J<1RKLEES ESTATE COMPANY, 
LIMITED. 
Rp;PORT OF THE DIRECTORS. 
DlBECTOBs : — John Gordok, Esq., G EI Alston, 
Esq., J Arjutage Ogden, E-q., Estate Siiperinten- 
dent :— W G L Powell, Esq. (Acting.) 
ACREAGE, 
Tea in bearing ... 435 acres. 
Uo. partial bearing... ... 13 
Tea cleaimga .. ... IJ ,, 
Timber and Cardamoms, about 129 „ 
Grass and naoullivated land ... 140 ,, 
Total . . 727 acres. 
The Directors herewith present to the Shareholders 
the Accounts of the Company for the past year. The 
Ciops secured were 157,575 ib. of Tea (including 
12,4701b. manufactured from purcha-ed leaf) and 3,939 
lb. of C irdamoms, The crop f Tea wtis 7.425 ib. 
short of that estimated, which is accounted for 
principally by an unprebedeniedly dry March 
and an insulHoient supply of lubour during the 
months when the ■ bushes did fluth well. The nett 
average price realised for the Tea was 3773 
cents per lb. against 36 34 cents in 1902, but owing 
to the very depressed state of the Cardamom 
market the price realised for that product was only 
43 90 cents as Hgainst 83 10 cents per Ib in 191)2. After 
providing for depie iatiuu of buildings and machinery 
and paying the 7 per cent dividend on the preference 
shares, the profit, on the year's woi kii g "mounted to 
■R6,857 41, to which fells to be added the balance of 
B2,36n' 6 brought forward from 1902, less a sum of 
£l73ti'24 short icilised for pioauce unsold at the end 
of ih»t ye»r. Thf Directors now recommend the pay. 
ment of a final dividend of 4 per cent making, *ilh 
tha interim dividend of 3 per cent paid on the ith of 
August last, a tot ■! of 7 per cent for the year, which 
leaves a sum of Rl,479 36 to be curried forward to the 
current season's accounts. The crops estimatKd for 
this year are 165,000 lb of Tea and 8,500 Ib of C.-irda- 
moms, on an expenditure of K4S,092 75. In terms of 
the Articles of Association Mr John Gordon new 
retires from the Board of Directors, but is eligible for 
te-eleotion. The appointment of an Auditor for the 
present year will rest with the meeting. — By order o£ 
(bo Directors, Wuitiall tt Co,, Agents & Secretaries, 
THE JiELANI TEA GARDEN CO., LTD. 
KKPOhT OF THE DIKECTORS. 
ACKEAGE 
408 acres in full be.iriog 
14 do planted 19110 
422 do 
313 do R-serve and Forest 
11 do Ravines, Waste, and Grass land 
Total 746 acres 
The Direc'Ors beg to submit to the Shareholders of 
the Company the Accounts for the year ending 31st 
December, 1903, duly audited. The crop harvested for 
the year "mounted to 174,153 lb as against an estimate 
of 2G0,O'i0 ib, and realised a nett average price of 33"90 
cents per Ib, In addition 148,1581b of made tea was 
manufi.ctured for others during the year, making a 
total amount of 322,311 lb dealt with in the Factory. 
The cost per lb inclusive of 2'15 cents per lb spent on 
manure amounted to 24 82 cents, exclusive of items 
on capital account R2.067'12 hp.ving been spent on a 
new roller. The balance at credit of Profit and Loss 
Account after proiiding for 5 per cent depreciation on 
buildings and machinery, interest and other charges 
and including the amount R8, 178.36 brought forward 
from the preceding year is R21,987 70, which the 
Directors recommend should be appropriated as fol- 
lows : — That a dividend at the rate of 5 per cent per 
annum should be declared absorbing R15,000, that the 
sum of R5,n00 should be tiansferred to a Reserve 
Acc ount to be set aside towards the redemp ioo of the 
mortgfige, and theba auce, viz, Rl,987*70, be carried 
forward. The crop results for the year although better 
than last were somewhat disappointing owing to the 
later months being unfavourable for flushing, other- 
wise the e=itimate would in all piobability have been 
obtained. The estimate for the current season is 
200,000 lb m 'de tea to be delivered in Colombo at 
a cost of 23 80 cents, which includes R5,901 or the 
Equivalent of 2'95 cents per lb to be spent on manuring. 
In the terms of the memorandum of the Articles of 
Association Mr Clements retires from the Board, btit 
is eligible for re-election. The appointment of an 
Auditor for the cttrrent year rests with the meeting. 
— By order of the Directors, Carson & Co., Agents 
and Secretaries. 
THE ESTATES COMPANY OF UVA. 
RKPORT OF THE DIRECTORS. 
Directors. — Messrs. A J Denison, W D Gibbon 
and G H Alston. Estate Inspector. -^iilr W D 
Gibbon. Estate Superintendents — D immeria : Mr 
J B Cotton ; BattttWatce : Mr A V Ryall ; and 
Gampaha : F J vVhittall, 
ACREAGE. 
c3 DO ro 
— >^ . a . • • S a 
2^ "S S-n Sfe^ 5 
H H H O H H 
Dammeria Group 594 10 2 6U6 aO 554 1,190 
Bati awatte aud 
Forest Hill 501 90 — 691 — 164 755 
Gampaha 454 120 46 620 45 201 866 
1,5« 220 48 1,817 75 919 2*^ 
The Directors herewith present to the Shareholders 
the report and accouota for the past year. The total crops 
secured were 710,106 lb of Tea, about 1,960 lb of Carda- 
moms and 71 cwt. of Cocoa ; the Tea crop was 25.895 
lb below that estimated, but the whole of this shortage 
occurred on Dammeria Estate, and was attribntabla 
to the serious shortfall of rain of 50 inches. The aver- 
ago price realised for the tea was 36'96 cents per lb, an 
