Oct. I, 1901.1 THE TROPICAJ^ AGRICULT DEIST 
259 
THE HAPUGAHALANDE TEA COMPANY, 
LIMITED 
REPORT OF THE DIKECTOFS. 
The seventh annual general nieetitiE; of 
the shareh'^lders was helil at tiie Com- 
pany's Registered Office, 22 Baillie Street, 
Fort, Colombo, today at II SO a m., there 
were present • — Messrs A Cantlay in the Chair, 
Keith Rollo, R Davidson, Wni. Taylor, Wm. 
Milne, (by Attorney R Davidson j ; Mrs Grace 
Stanton (by her Attorney A Cantlay), and Tudor 
Stanton tor Agents and Secretaries. 
The Secretaries read the notice convening the 
meeting as it appeared in the Government Gazette 
of 2Dd August 1901 and then the minutes of 
general meeting of shareholders held on ]8th 
August 1900 which were conlirmed. 
The report and accounts having been taken as 
read, the Chairman favouiably moved the adop- 
tion of same. This was duly seconded and un- 
animously adopted. A dividend at the rate of 5 per 
cent for season 1900-1901 payable forthwith 
was then declared. 
Mr A Cantlay was re-elected a Director and Mr 
John Guthrie appointed auditor for the current 
season on the usual fee. 
With a vote of thanks to the Chairman the 
proceedings terminated. Appended is the report : 
ACREAGE. 
A. R. P. 
Tea in full and partial bearing ... 3S5 0 0 
Jungle, &e. ... ... 369 1 3 
Total Acreage ... 754 1 3 
Your Ditectora bpg to submit their annual report 
and accounts for the twelve months ending 30th June, 
1901. 
The quantity of tea manufactured for the season 
(including estate and bought leaf, but exclusive of 
that manufactured for other estatas) was 181'020 lb. 
Estimating the unsold tea at a safe valuation, the 
nett amount realised for this product has been 
B49,050'27, equal to an average of R27'09 per lb. 
Aftersettingaside R3,293'58 for depreciation on build- 
ings and machinery, the sum availnble for distribution 
(including Rl,861'14 brought forward from last account) 
is R13,992'13. From this sum the Directors recommend 
payment of a dividend of 5 per cent absorbing R8,500, 
and leaving R5,492'13 to be carried forward. 
In terms of the articles of association Mr Alex. 
Cantlay retires from the Board of Directors and is 
eligible for re-election. 
The appointment of an Auditor for the current 
season will rest with the meeting. 
THE WAN AR A J AH TEA COMPANY OF 
CEYLON, LIMITED. 
REPORT OF THE DIRECTORS. 
ACKEAGE : 
Tea in bearing . . 1,028 acres 
1896 12 
1898 20 „ Acres 
1,060 in tea 
Timber Trees .. .. .. 20 
Forest .. .. .. 27 
Grass not available . . . . . . 27 
Total .. 1,131 "acres 
The Directors have the pleasure of presenting to 
the Shareholders the Bfpoit, Balance Sheet, and 
Pioftt and Loss account for the year ending 30lh June, 
1901. 
The crop harvested amounted to 438,945 lb., against 
an estimate of 420,000 lb. The crop for 1900 was 
33 
lb. 447,235. This result may be considered satisfac- 
tory in view of the slightly liner pluc3kiiigt:0Dsidered 
necessary to meet the altered conditions of the 
market. 
Lb. 279,529 have been sold in London at an average 
of 51'55 cents, but it i^ not anticipated tlia,t the 
balance will realise so high a figure. 
Manure — The estimate provided for 311 acres. 
The acreage completed was 333, at a cost of R13,187, 
or PxSO GG per acre. 
Tha amount at the credit of 
Profit and Loss account is ... E107,820-00 
Including the balimce brought 
forward of ... R 42,376-56 
in which is incorporated a sum of R7,372'32, being 
the amount underestimated in last year's account for 
Tea in store or .Tfluat. After payment of aa Interim 
Dividend of 5 per cent there remains a sum of 
R86,975 available, wh'ch the Directors recommend to 
be applied as fo'lows :~ 
To a final dividend of 12 per cent, 
making a total of 17 per cent, for 
thH year ... R45,360 
To be carried forward ... R41,615 
R86 975 
The estimated crop for the season 190J/1902 is 
440,000 lb. of made Tea. 
The Visiting Agent's reports can be seen by Share- 
holders at the Company's Offices. 
Mr. J C Duubai retires from the Board by rotation, 
but is eligible for re-eleclion. 
The election of an Auditor for tlie ensuing year 
rests with the Shareholders. 
By Order of the Board 
Baker & Hail. 
Agents and Secretaries, 
CLUNES ESTATES COMPANY OP 
CEYLON, LIMITED. 
report of directors, 
Clunes Division. 
Superintendent : — B. 0. De Sarah, Esq. 
Tea in bearing 340 Acres. 
Ten, in partial bearing ... .. 50 ,, 
Forest ... ... .. 174 ,, 
Total 564 Acres. 
Erecht Division. 
Superintendent : — S. Layakd, Esq. 
Tea in bearing ... .. .. 361 Acres. 
Tea in partial bearing .. ... 142 , ,, 
Forest and Waste Laud .. .. 244 ,, 
Total 747 Acres. 
Grand Total ... 1,311 Acres. 
The Directors now submit to the Shareholders Ac- 
counts and Balance Sheet of the Company for the 
year ending 30th June, 1901. 
I'he amount of crop secured was very disappoint- 
Uni—i.e. : 392,880 lb. against an estimate of 468,000. 
T;ie shortfall of 75,120 1b. being due partly to un- 
favourable weather and partly to the adoption of a 
tine system of plucking necessitated by the serious 
drop in prices in cnmmon teas experienced for the 
last eight months- The nett average price realized was 
25'60 — v^hilst the cost of pioduotion was 21'67 cents 
per lb. v/hich included the cost of manuring 140 
acres. 
After providing the usual sums for Depreciation of 
Buildings and Machinery, the result of the year's 
working shews a nett piotit of E3,203'78, equal to 
about 1 per cent on the paid up Capital of the Com- 
pany. To this must be added the balance of R3,667'23 
brought forward from last year, bringing tlie total at 
credit of Profit and Loss Account to R6,871'01. 
