756 
THE TROPICAL 
AGEICULTURIST. [May 2, 1904. 
only some 2,000 of these doing well. A special clear- 
ing of 15 acres to be planted solely with Para Rabber 
has beeu sanctioned, to b& proceeded with at once, 
and the area will be fenced to keep off the cattle 
which have been so destructive among the earlier 
plantings. The Visiting Agent's Reports on 
the Estate continue to be more favourable, and 
Mr Joseph Fraser, on 31st December, 1903, wrote : 
■ "The general appearance of the Estate has greatly im- 
proved since my last visit, especially the Tea planted 
in jangle soil and where it has been manured. Gray 
blight and fall of leaf are much less, and the bujhes 
are more vigorous with a greatly improved leaf-carry- 
ing capacity." The estimated crop of 244,000 lb. 
was exceeded by 30,629 lb., and the ^hole was realised 
in Colombo at an average of 34'82 cents, equal to 6'56d. 
on the London basis. This compares with an average 
in 1902 of 5-50d. The improvement of l-06d. is attri- 
butable parly to an enhanced general level in the 
value of all Tea and partly to better quality. In the 
original estimate given in the prospectus of the 
Company 500 lb. of Tea per acre was con,sidered a 
probable yield, and the price of realisation was 
assumed as 34 cents. The yield has actually been 
424 lb. per acre on the average over all, certain 
individual fields having given .549, 570 and 639 lb. 
The cost of prodaction was 26.07 cents, against 
an estimate in the p.:ospectu3 of 19 cents, but 
the former included much not originally expected 
to be payable, representing 6.53 cents, reducing the 
actual comparative figure to 19.54 cents. On reference 
to the accompanying accounts it will be seen that a 
Profit and Loss Account is now submitted for the 
completed Block Account, and that to this has been 
transferred the sum of £1,010 ISs 23, the profit made 
daring the year. From this bas been paid £510 of 
debenture interest, and it is proposed to pay on 31st 
March, 1904, a dividend of 2* per cent, which will 
absorb £352 lis 4d, carrying forward the balanco. A 
resolution sanctioning this dividend will be submitted 
to the General Meeting. The Managing Agents pro- 
pose to pay on 30th September in each year an interim 
dividend of 2J per cent, and on the 31st March a 
final dividend at the same rate, so long as the results 
of the working of the Estate permit of this being 
done. Should the revenue of the Company continue 
0 come in as satisfactorily as of late, it may be 
onnd practicable at 30th June • of this year to make 
some reduction in the amount of the Debentures. 
The estimate for 1904 is for a crop of 300,000 lb at a 
cost of 25 "41 cents, which includes the cost of manuring 
one-third of the Estate and of burying with basic slag 
the prunings from 200 acres. The upkeep of the Estate, 
buildings and machinery is in every way fully provided 
for. The estimated yield seems a reasonable one, and 
should this be secured and sold at the same average 
price as in 1903 the Debenture interest and dividend of 
5_per cent will be fully- covered. The general condi- 
tions of all the principal Tea marke^i continue to be 
more favourable than of recent years, especially for 
such classes of Tea as a-e produced on this Company's 
Estate. The accounts for the year,- duly audited, are 
now submitted for approval. An Auditor falls to be 
appointed by the Shareholders at the General Meeting. 
McMBBKIN & Ce., Managing Agents. 
10, Lime Street, E, C. London, March, 1904. 
GREAT WESTEEN TEA CO. OF CEYLON, 
LIMITED. 
KEPORT. 
DiKECTORs. — Messrs. Joseph 0 Dunbar, Giles F 
Walker and J Anderson. 
The Directors have now the pleasure to submit their 
report and accounts for Etason 1203. The yield for the 
seaEon vas 860 674 1b tea pgeirst an estimate of 
4SO,C00 lb, thcwiDg a ehortsge of 69,326 lb which is 
attiihntBLIe mainly if not ent'iely to the exceptionally 
uiifB^cnreble EefiF.cn, Tbeuvercge of the tea Eold in 
London was 45'01 cents per lb against 44'84 cents for 
the ni te months scaBon 1902. The cost was b2'48 cen(8 
per lb including 3 cents for manure against 32 13 cents 
and 3-20 cents for season 1902. The profits on cart and 
dairy establishment have in each season been deducted 
from the cost of manure. The exceptionally heavy 
cost of firewood and fuel on this estate amounting to 
2*97 cents per lb adds very considerably to the cost of 
prodaction. The Directors have under consideration 
the introduction of liquid fuel for tea drying, but bo 
far the figures obtained have not been quite satisf atory. 
The past season includes an extra amount under the 
head of superintendence owing to the absence on leave 
of Mr Bowie. The profit on the year's working including 
last year's balance of R174*24 and surplus on account 
of season 1902 is R42,743-29. Out of this an interim 
dividend has been paid absorbing R17,520 leaving 
R25,223-29 to be dealt with. This the Directors re- 
By mend being disposed of as follows ; — 
com payment of a dividend of 3 per 
cent (making 6 per cent for the 
year) absorbing . . ... E17,520 CO 
By transferring to depreciation 
account — 10 per cent for depre- 
ciation on machinery. . ,, 4,082"65 
5 per cent for depreciation on 
buildings .. .. „ 3,20493 
By carrying forward .. •• j. 415-71 
E25,223'29 
The Estimate of crop for 1904 ii 400,000 lbs. and 
this with a moderately good season should be a safe 
estimate. 
The ao.-eage of tha Estate is ; — 
A R P 
921 2 12 Tea 
39 0 0 Fuel 
38 2 4 Ravines 
17 1 12 Grass Field 
11 3 13 Buildings and Gai-den 
30 0 14 Cart Road and Rjads 
23 2 25 Railways 
Total 1.082 0 0 
During the year Mr F W Bois left the Island, and 
Mr G P Walker was appointed in his place. Mr R 
Davidson has also been appointed a Director. la 
terms of the Articles of Association Mr J Anderson 
retires by rotation, but being eligible offers himself for 
re-election. It will also be necessary to appoint an 
Auditor for season 1904. 
By order of the Directors, 
J M Robertson ifc Co,, 
Agerts & Secretaries, 
Colombo, 24th March. ItOi, 
Rubber in Burma : Experimental Gar- 
dens Wanted.— Mr. Gerald M. Watson 
has a letter in a recent issue of the Rangoon 
Gazette on the Government's remissness in 
the matter of experimental gardens, roads 
and railways. Ceylon is several times held 
up as an example of enterprise, In the 
course of his letter Mr. Watson says :— 
The 10,000 acres Para rubber Government 
scheme is already tottering, and the Kambe 
plantation is for sale to the highest bidder ; 
who would likely do well by irrigating, and 
supplying vacancies with strong thick stumps 
and growing catch crops, such as dahl. (Para 
Rubber should not be grown under shade). Where 
is there a country so well suited for camphor as, 
say, Hanthawaddy? It is to be hoped that at least 
four Government experimental gardens will be 
started without further loss of time. The invest- 
ing public are hardly to be so much blajned for 
want of enterprise as are the Government for aot 
guiding them to fortune, and the greatest benefit 
of {lU countries, agriculture, 
