March 1, 1902.] THE TROPICAL 
AGRICULTURIST. 
607 
manufacture of outside leaf from the end of July 
last, up to which date a sum of E6,223 69 was 
sbtained for this work. 
In view of the fact that [depreciation has been 
written off bo that Machinery and Buildings now stand 
in the books of the Company at a sum of R26,058"70, 
the original cost beiug R90, 846-87, and that all repairs 
and alterations are now charged to Working Account, 
the Directors consider that it is unnecessary and 
inadvisable to write off anything further to Deprecia- 
tion Account. 
The amount at credit of Profit and Loss Account for 
the year's working is E66,785-24, equal to 17-80 per 
cent on the paid up Capital of the Company, to which 
must be added a sum of R2, 783-92 brought forward from 
1900. making the total profit available for distribution 
R69,569-16. An interim dividend of 7 per cent was 
paid on 2nd August last, absorbing R26,250, and the 
Directors now recommend the payment of a final 
dividend of 11 per cent, making 18 per cent for the 
year, and that the balance of E2,069 16 be carried for 
ward to the current seasons' working. 
During 1901 a bungalow was erected at a cost of 
R2,451-27, which has been debited to Capital Account; 
this building has been leased to: Government for a 
Post Office, for a period of 5 years on a monthly 
rental of R35. 
Tlie estimate for this year is 343,750 lb. Tea on an 
expenditure of E84,852'97, including a sum of R6,889 
for manuring. 
During the past year Mr Jas. Forbes resigned h'a 
seat on the Board, and Mr Jas. Poison was appointed to 
fill the vactinoy. In terms of the Articles of Associa- 
tion Mr Poison retires by rotation from the Ofiice of 
Director, but is eligible for re-election. 
The appointment of an Auditor for the current year 
rests with the Meeting. — By order of the Directors, 
Whittall & Co., 
Agents & Secretaries. 
Colombo, Jan. 24, 1902. ..i 
THE GLASGOW ESTATE COMPANY, 
LIMITED. 
BEPOBT OF THE DIBECTOBS. 
ACREAGE. 
Tea in full bearing .. 570 acres. 
Do partial bearing ... 68 ,, 
Do not iu bearing . . 12 ,, 
Grass .. ... 2 ,, 
Jungle, &o. . . . . 62 „ 
Total Estates ... 714 acres. 
The Directors have now to present to the Share- 
holders their annual report and the accounts of the 
Company for the past year. 
The Tea Crop, which was slightly under the estimate, 
amounted to 361,189 lb, and realized a nett average 
price of 43-66 cents per lb, as against 44*63 cents per lb, 
last year. 
As buildings and machinery now stand in the Com- 
pany's books, after deducting the sum standing to 
the credit of depreciation account, at only R-22,730-77, 
a sum far below their actual value, the Directors 
consider it unnecceasary to write off any depreciation 
this year 
The amount at credit of Profit and Loss account 
for the year's working was R65,548.56, equal to 20*17 
per cent on the paid-up Capital of the Company. 
The sum of R502-53 was brought forward from 1900 
account from which falls to be deducted R300, 
beiug extra fees to the Dii'ectors for 1900 working, 
in terms of the resolution passed on 18th February, 
1893. There is thus an aggregate of R65,751"09 avail- 
able for distribution, and ihe Directors now recom- 
mend that R5,000 be transferred to Reserve Fund 
for Equalization of dividends, that a final dividend of 
11 per cent be paid for 1901, making with the interim 
dividend of 7 per cent paid on 2nd August last a 
total of 18 per cent for the year, and that the 
balance of R2,251 09 be carried forward to tho current 
year's account. 
To deal with manufacture of the increasing crops 
from the young Tea, au extension to the factory and 
machinery was necessary, and this work vrns eompletad 
during the year and charged to Capital aeoonnt. 
The estimate for the current season is 400,000 lb. 
Tea against a total expenditure of R96, 542-5©. 
During the year the Mr Jas. Forbss resigned hia 
seat on the lioard and Mr G C Walker was ap- 
pointed to the vacancy. Iri terras of the articles of 
Association, Mr Walker retire from the office of 
Director, but is eligible for re-election. 
The appointment of an Auditor for the current 
yea/ will rest with the meeting. 
By order of the Directors, 
Whittall & Co., 
Colombo, Jan. 27th, 1902. Agents Si Secretaries. 
MAHA UVA ESTATE COMPANY. 
THE directors' RKPORT 
as follows was submitted ;— 
DTRECTOR.S.— Messrs. G H Alston, S. Bois. Jas. 
Poison. 
Estate Inspector. — Mr. Jas. Poison, Estate 
Superintendent.— Mr. C W Maclean. 
ACREAGl';. 
Tea iu full bearing ... 592 acres. 
Do. partial bearing .. 26 do. 
Cardamoms . 89 do. 
Fuel .. .. 20 do. 
Total Cultivated .. 727 do. 
Jungle and Waste land, &o. . . 231 do 
Total of Estate .. 958 acres. 
The Directors have now the pleasure to place before, 
the Shareholders accounts for the past year. 
The Tea crop secured, including Tea made from 
31,316 lb purchased leaf, amounted to 237,583 lb as 
against an estimate of 262,000 lb of Tea. Following 
an abnormally favourable seasons of flush during 1900 
it was not to be expected th it yield in 1901 would 
be as large, but the estimate would probably have been 
secured had it not been for the very unfavourable 
weather experienced during the last three months of 
the year. The season being favourable for this 
product, the Cardamom crop amounted to 7,9221b as 
against an estimate of 6,0001b. The average net price 
realised for the tea was34'78 cents per lb and for the 
Cardamoms sold to date R. 1-25 per lb as against 36 04 
cents and Re. 1 42 respectively for the 1900 crops. 
A sum of R5,030-50 was spent on capital account in 
building new Lines, the purchase of a new Roll Breaker 
and in fitting the Factory with Sirocco Fans, the results 
of their working having proved very satisfactory. 
After allowing for depreciation on Maclineryand 
Building the amount at credit for the year's working is 
R18,348 21, equal to 611 per cent on the paid up capital 
of the Company. The balance brought forward from 
1900 amounted to R10,663-95, thus making a total of 
R29,012-17 available for description. An interim 
dividend of three per cent was paid on 8th August last 
absorbing R9,00t and the Directors recommend the 
payment of a final dividend of 4 per cent, making 7 per 
cent for the year that the;sum of R5,000 be transferred 
to a Reserve Fund for the equalization of dividends 
and that the balance of R3,012"17 be carried forward 
to the current year's account. 
The estimates for this year are 262,0001b. Tea and 
9,0001b. Cardamoms on an expenditure of R71,6(J9 
During the year the Hon Mr W H Figg resigned hia 
seat on the Board and Mr G H Alston was appointed 
to fill the ' vacancy. In accordance with the Articles 
of Association Mr AUtou now retires, but is eligible 
for re-election. 
