832 
THE TROPICAL AGRICULTURIST. [June 1, 1904. 
satisfactory results. The total acreage of the Company 
is now aa follows :— 
Tea in fnll Carda- Jungle. Patna & Total. 
Estate. bearing. moms. Scrub. Acres. 
Ederapolla . . 529 — 68 51 648 
Ardross .. 273 — 42^ 8J 324 
St Helens .. 255 13i — 34 i 303 
Totals .. 1,057 ISf 110| 94 1,275 
In accordance with the Articles of Association, Mr 
George W Paine retires from the Board at this time, 
and, being eligible, offers himself for re-election, 
Messrs Oape and Dalgleish, C A, also ofiers themselves 
for re-election as Auditors.— >G. W. Paine, Chairman. 
6, Philpot Lanej London, EC 6th April, 1904. 
THE TYSPANE TEA COMPANY, LTD. 
BEPOKT. 
DiREOTOHs : — Messrs. Edward Dumaresq Thomas' 
John rhilip Herringham, Walter Cross-Buchanam 
Col. E D Newnham-Smith. 
The Directors have the pleasure to submit the 
Balance Sheet and Accounts of the Company for the 
year ending Slst December, 11903, duly audited. The 
total yield was 278,569 lb tea against 280,000 lb. esti- 
mated and 261,878 lb obtained last year, and the 
average price realised per lb tea was 6"05d nett against 
5'59d nett last year. The cost of production, exclusive 
of expenditure on new clearing, was 24 cents per lb 
free on board at Colombo, or about 4d, against 26 cents 
per lb, or about 4,1 •3d, last year. The present season's 
crop is estimated at 280,000 lb tea. Exchange average 
1/4 5-16th per rupee against 1/4J last year. 
The nett profit for the year £2,151 I8a 7d, to whieh 
has to be added the balance brought forward from last 
year of £139 53 lOd,— Total £2.291 43 5d. 
The Directors have already paid out of this an inte- 
rim dividend of 4 per cent, free of income tax £720, 
interest on debentures £90, income tax £73 69 3d. And 
it is proposed : — To pay a final dividend of 4 per cent 
free of income tax, making 8 per cent for the year £720, 
to transfer to reserve for depreciation £2.50, and to 
carry forward £437 18s 2d.— Total £2,291 43 5d. 
The acreage of the estates is as follows : — Tea in 
bearing 750 acres, tea in bearing 1898 28 acres, tea in 
bearing 1899 4 acres, tea in bearing 1901 18 acres. 
Jungle, Timber Waste, &c. 168 acres.— Total 968. 
Col. E D Newnham-Smith the retiring Director, 
ofiers himself for re-election. The Auditor, Mr 3 
Hamilton Alston, also offers himself for re-election. — 
By order of the Board, Robertson, Bois & Co., Agents 
and Secretaries. London, 6th April, 1904. 
THE EASTERN PRODUCE AND ESTATES 
CO., LTD. 
REPORT. 
Directors.— Ralph A. Cameron, Chairman and 
Managing Director, Norman W. Grieve, David Beid, 
Christopher B, Smith, G A Talbot, Edward Wahab. 
The Directors submit Report and Balance Sheet 
for the year ending 31st December, 1903. 
The profit for the year is =£22,504 3g. lOd., which, 
added to £6,020 19g Id., balance from last account, 
amounts to £29,125 2a lid. 
From this has to be deducted ;— Interest ou Deben- 
tures £2,925, Debentures for £7,500 drawn and paid 
off, with boDU3 of 5 per cent, on 31st December, 1903 
£7,875, Dividend of 5 per cent on the Preference Share 
Capital £278, Interim dividend of IJ per cent, on the 
Ordinary Share Capital paid 4th November, 1903 
£4,473 153, Total £15.551 15s, leaving a balance of £ 18,573 
7slld which it is proposed to apportion as follows:— Final 
Dividend on the Ordinary Shares of 2^ per cent, mak- 
ing 4 per cent, for the year £7,456 5s, Balance to be 
carried forward as provision for retirement of Deben- 
tures in the current year £6,117 23 lid, £13,573 78 lid. 
Jhe Debenture debt has been reduced by the usual 
annual payment of £7,500 cut of profits, and now 
stands at £57,500. Those Debenture-holders whose 
Bonds were prawn for payment on 31st December, 
19!i3, were given the opportunity of re-investing the 
amount in Preference Shares, and 28'J fully-paid £5 
Shares were applied for and allotted at par as of Ist 
January, 1904- As ehown in the schedule below, 
the Company on 3l8t December last had 10,981 acres 
under Tea cultivation of which 10,887 were over four 
years old. The yield of Tea in 1903 was 3,804,208 lb, 
the average gross sale price being 718d as compared 
with 6'39d in 1902. Unfavourable weather prevailed 
generally throughout the year, especially in those 
districts where some of the Company's most important 
estates are situated, and to this cause is to be attributed 
the deficiency of 200,000 lb in yield as compared with 
the previous season. The average rate of exchange 
was Is 4 13-32d as compared with Is 4 5-16d in 
1902. In accordance with the Articles of Association, 
two of the Directors, Mr David Reid and Mr Norman 
W Grieve, retire from office, and, being eligible, offer 
themselves for re-election. The retiring Auditors, 
Messrs Welton, Jones & Co., offer themselves f°r 
re-election. RALPH A. CAMERON- 
Chairman and Managing Director. 
41, Eastcheap, E.G. 6th April, 1904. 
SCHEDDLE OP THE CoMPANY'S EsTATES AT 31 ST 
December, 1903. — Arapolakande, Asgeria and Bulat- 
watte, Colonna, Condegalla, Doombagastalawa, Dromo- 
land, Hope, Ingurugalla and Berrewella, Kirrimittia, 
Kumaradola, Knmbukkan, Labookellie, Meddecoom- 
bra; Norwood, Rothschild, Sogama, Vellai Oya and 
Daridukelawa and Wevekellie. 
Under Tea 19,981 acres, under Cocoa 593 acres, 
under Cardamoms, Rubber, and Sundries 506 acres, 
under Eorest, Grass, and uncultivated Land 4.711 
acres— Total 16,791. 
THE LINDOOLA TEA CO., LIMITED. 
RKPORT. 
Directors. — Edward Dumaresq Thomas, Esq., 
Walter Cross Buchanan. Esq., Charles Murray Robert- 
son, Esq. 
The Directors have the pleasure to submit the 
Bilanoe Sheet and Accounts of the Company for the 
year ending 31st December, 1903, duly audited. The 
total crop was 147,070 ib tea, against 175,000 lb. esti- 
mated, and 180,375 lb obtained last season. The 
crop was at the rate of 459 lb per acre, and cost 27'62 
cents per lb, free on board at Colombo, and the gross 
average price of the 134,960 lb sold in London was 
8'19d against 7d last year. The reduction in yield is 
attributable to the unfavourable weather that prevailed 
during the greater portion of the year. Drafts were 
negotiated at an average rate of Is 4 5— I6d per rupee , 
against Is 4^d last year. 
The Net Profit for the year amounts to £1 496 Ss 8d. 
And the Balance from last year to £41 93 2d Mak- 
ing a total of £1,537 123 lOd, 
The Directors have already paid out of this Divi- 
dends on the 6 per cent Preference Shares for the 
year ending 3l3t December, 1903, £780. Income Tax 
£92 la 3d, 
And it is Proposed : — To pay a Final Dividend of 
2 per cent free of Income Tax on the Ordinary Shares 
£520. And to carry forward the balance of 
£145 lis 7d.— Total £1,537 12s lOd. 
The Director retiring on this occasion is Mr 
Walter Cross Buchanan, and, being eligible, he offers 
himself for re-election. The Auditor, Mr J Hamilton 
Alston, also offers himself for re election. — By Order 
of the Board, Robertson, Bois & Co., Agents and 
Secretaries. London, Cth Apiil, 1904. 
BURNSIDE TEA CO. OP CEYLON, LTD. 
REPORT OF THE liOARD OP DIRECTORS. 
Directors. — Mr. George W Paine, Cotsw»ld, Upper 
Norwood (Chairman) ; Sir George A Pilkington, Belle 
Vue, Southport ; Mr Robert Porter, 37, Chalmers 
Street, Edinburgh (Managing Director); and Mr George 
G AqdersQU, 16, Philpot Lane, E.C, 
