THE TROPICAL 
the other Coffee properties forming this amalga- 
mation, the contract with this company provides 
that the Syndicate's Estates should be amalga- 
mated on exceedingly moderate terms, and that 
the price of £17,000 will be paid, £11,990 in ordin- 
ary shares and £5,010 in dcDenture;--, and will con- 
sist, as regards more than one-half, in shares and 
debentures deferred as to dividend until these 
Estates are fully developed. In addition, the 
amalgamated concerns take over the whole assets 
of the Syndicate (including its uncalled capital of 
the value of £4,612 10s being 7s 6d per share on 
12,300 Ordinary shares, the total number formerly 
ottered and allotted to the public, the balance of 
12s 6d per share having already been paid up), as 
well as its liabilities, which are fully covered by 
these assets. 
Finally here are the immediate expecta- 
tions : — 
For the season 1901-2 the Directors expect that, 
under average conditions, the coffee crop will 
amount to at least 180 tons. Recent sales warrant 
their quoting this at 45s net per cwt. in London, 
and latest private advices piedict an immediate 
advance, The prices obtained in South Africa are 
about double the above figure, and will greatly 
raise the aveiage selling price. Taking 60s per 
cwt as a low average rate for the sale of the whole 
crop, they estimate the Profit as follows :— 
180 tons at 60s per cwt . . £10,800 0 0 
Tobacco and Sundries . . 1,600 0 0 
£12,400 0 0 
Leas Expenses of Cultivation, Manage- 
ment, Superintendence, Accounting, &c. 
(3,008J acres at 49s 6i3 per 
acre). ... £7,446 0 0 
Carriage of Crop . . 80O 0 0 
Home Expenses, Contin- 
gents. &c. . . 500 0 0 
—£8,746 0 0 
Leaving a Net Profit of £3,654 0 0 
On the capital required, supposing all the 
Preference Shares are taken up, and £15,000 De- 
betures in all are issued, this balance would pay — 
5 per cent on i;l5, 000 Debentures £750 0 0 
S per cent on 10,000 Preference Shares 600 0 0 
Balance available for Ordinary Share- 
holders .. .. ... 2,304 0 0 
£3,654 0 0 
This balance would equal a dividend of about 
7 per cent on the ordinary share capital, so far as 
paid up. In 1897 the average price of Nyassaland 
coffee was about 85s per cwt in London, and 
almost half as much again in South Africa. Later, 
overproduction in Brazil caused a heavy downfall 
in prices, which however has now been checked, 
and recovei'y is taking place. A return to these 
earlier prices, with a like tonnage, v^'ould permit 
of a dividend of 10 per cent on the ordinary shares 
being paid, and over £3,000 carried forward. The 
Directors confidently anticipate both larger crops 
and better prices in subsequent years, and con- 
si'ijuent handsome profits. No credit has been 
taken in these estimates for sales of land and 
rents. These have yielded annual, and sometimes 
very considerable profits in tiie past and once 
tiie Railway is undertaken would add largely to 
revenue. The Directors have agreed to leave the 
amount of tlieir remuneration to be fixed by the 
shareholders. 
AGRICULTURIST. [Dec. 2, 1901. 
TO FIGHT MALARIA. 
£100,000 REQUIRED FOR AN ENGLISH 
SCHOOL. 
Under the auspices of the Seamen's Hospital 
Society, tlie third winter session of the London 
School of Tropical Medicine was opened bj' Lord 
Brassey, KCB, yesterday afternoon at a meeting 
held in the large hall of the Royal United Service 
Institution. WhitehiiU, S W. " To carry on this 
work eliiciently," said his lordship, " more funds 
will be required, and I have to ask for no less a 
sum than £100,000. It is not a large sum to ask 
to establish an etticient institution, and a favour- 
able response tiiust come from the large section of 
the public who have interests in the tropics." 
Dr. Patrick Manson, medical adviser to the Co- 
lonial Office, followed, and spoke about the func- 
tions theLondon School of Tropical Medicine wanted 
to fulfil. " The first was to promote the education 
of men for the special work. "• No youths come to 
us in the hope that we will provide tliem with 
situations abroad. At the outset of the scheme, 
medical men proclaimed from platforms and in 
letters to the medical Press that medical schools 
were able to supply what was required. But those 
who have made a special study of tropical diseases 
regard such opinions as vaniped-up figments of 
the imagination." 
Dr. Patrick Alanson then went on to illustrate 
his case by referring to errors in diagnosis made 
by ships' doctors ond others, and to a recent case 
at the Seamen's Hospital, where a negro was ad- 
mitted suffering from a tropical disease of which 
medical men who saw him knew nothing. '' To 
enlarge our borders we must have more room for 
laboratories, museum, and a library. At present 
there are only six rooms where students can live. 
The big mercantile companies recognise the value 
of tiie London School of Tropical Medicine, and 
ask us to supply them with medical men." 
A statement of unusual interest was made by 
Dr. Patrick Manson during his speech. " In the 
course of one generation the blood of the Barba- 
rians can be freed from elephantiasis and cognate 
diseases." 
Sir Francis Lovell, who has seen thirty years' 
service under Government, then spoke to the meet- 
ing in regard to his mission to obtain funds for the 
School of Tropical Medicine. He will visit India, 
Burma, Ceylon, Straits Settlements. China, Japan, 
New Zealand, Australia, the USA, and Canada 
in order to put the school forward as a teaching 
body and provide sulKcieut funds for larger build- 
ings, nevi'er appliances, and better arrangements. 
The appeal will be made to wealthy residents 
abroad . 
After the meeting an " Express " representative 
interviewed Dr Patrick Manson. 
" We are sending out an expedition to the 
Christmas Island to investigate beri-beri and 
study the pathology of other diseases. Dr Durham 
is the senior medical, and he wiil be assisted by my 
son, Dr P T Manson, They will remain on the 
island two yeais. Germany is far ahead of us in 
spending money on the study of tropical diseases. 
In a conversation 1 had with Professor Koch we 
compared notes, and I was forced to admit that 
they spent five times as much as we did. Men in 
England go out to tlie tropics for study and research 
work for a mere pittance — I am ashamed to men- 
tion the amount — but Germany pa.ys a comparat- 
ively handsome salary tohermen. — t)aily Express, 
Oct'. 17. ' 
