G78 
THE TEOPICAL AGRICULTURIST. [April 1, 1902. 
THE 
PALMERSTON 
OF CEYLON, 
TEA COMPANY 
LIMITED. 
REPORT OF THE DIRECTORS. 
ACEEAGE or IHE ESTATE. 
Queensland. 
Palmerston. 
Total. 
acres. 
acres. 
acres. 
Tea in Bearing 
254 
205 
459 
Young Tea 
4 
0 
4 
Total Tea 
258 
205 
463 
Jungle 
19 
0 
19 
Timber 
0 
7 
7 
Grass, &c. 
4 
0 
4 
Total Acreage 
281 
212 
493 
The Directors have now to submit their Sixth An- 
nual Report and Accounts, being those for the year 
ending 31st December last. The yield of tea during 
the period has been 206,189 lb., costing cts. 28'88 aa 
against cts. 2G'74 Isst year, and realising cts. 44'10 
as against cts. 44-17. 
As will be seen from the accounts, the profits for 
the year, including the sum of Bl,627"21 brought 
forward from last account, amount to R21,901'72 after 
writing off the sum of K2,470'09 for depreciation on 
Factory and Machinery. An interim dividend of 2J 
per cent, was paid on 12th August, absorbing RIO'250; 
and the Directors recommend that a fiual dividend 
of 2J per cent be declared, making a total of 5 per 
cent for the year, and leaving a sum of Rl, 401-72 to 
be carried forward. 
In terms of the Articles of Association, Mr. G C 
Alston now retires from the Board, but is eligible for 
re-election. 
The appointment of an Auditor for the current 
year rests with the Meeting. 
THE UVAKELLIE TEA COMPANY OF 
CEYLON, LIMITED. 
EEPOBT OF THE DIRECTORS. 
The Directors have now to submit their Report and 
Accounts for the year ending 31st December, 1901. 
The crop amounted to 166,319 lb. Tea costing 26 29 
cents per lb., against 162,1101b. costing 26-95 cents in 
1900, 
The amount of profit earned is R20,744-93, which is 
equal to fully 8J per cent on the Capital of the Com- 
pany, 
Alter estimating the unsold Tea at a safe figure, the 
crop has realized 39'99 cents per lb., against 43-39 cents 
in 1900, and 41-67 cents ia 1899, the lower price being 
due to the fall in the market. 
After adding R719'26 surplus proceeds of Tea esti- 
mated last year and R597-15 balance brought forward, 
the profit amounts to R22,061-34 and after writing off 
7J per cent for Depreciation on Buildings and Machi- 
nery the amount available for distribution is 
B20,023-46, which the Directors recommend should be 
disposed of as follows : — 
By the payment of a Dividend of 7 per 
cent absorbing .. ... R16,800-00 
By carrying to Reserve a sum of . . 2,000'00 
By payment of a Bonus to Superin- 
tendent of . . . . . . 500-00 
And carrying forward the Balance of 723-46 
R20,023-46 
The estimate for the current year is 165,000 lb, Tea 
to cost R48,588-.50. 
During the year Mr P W Bois resigned his seat upon 
the Board, on leaving for home, and Mr H G Boia was 
elected to fill the vacancy. 
In terms of the Articles of Association Mr Boia now 
,retire8 from the Board, but being eligible offers himself 
.^or re-election. 
Ifc will bo necessary to appoint an Auditor for 1902, 
CEYLON PLANTERS' RUBBER 
SYNDICATE LIMITED, 
REPORT OP THE DIRECTORS. 
Acreage : 
The Acreage of the Syndicate's property i 
follows ; — 
Opened Land 
Reserve 
615 
269 
884 
Acres 
544 Acres were Lined 
650 „ „ Holed 
350 „ „ Planted 
Only 350 acres have 
Total 
At the 31st of December, 1901, 615 Acres had been 
felled of which 
1253 Acres were Supplied 
414 „ „ Filled in 
585 ., ., Cleared up 
been planted owing to the 
plants being too small to put out. Had the seed 
purchased from Culloden Estate turned out well, the 
whole area might now have been planted up. One 
block of 45 Acres accidently caught fire, before it 
was ready to burn off. As the clearing up would 
have been costly, and there were no plants avail- 
able for putting out, our Manager considerd it best 
to allow the undergrowth to grow up and clear and 
burn again in March or April. 
Catch Crops have not proved a success, though 
the pumpkins seem to have grown well enough. The 
price obtainable was so low that it did not pay to 
pick them and the Chinese cultivators went off without 
clearing the land. Your Directors think that none of 
the usual catch-crops should be planted, with the 
exception of Liberian Coffee, which our Manager 
considers will pay a good return without injuring the 
Rubber. Whether this be planted or not rests with 
the Meeting. Mr Darby estimates that 200 Acres can 
be planted with Liberian Cofiee, 7j by 7*, and brought 
into bearing by 1905, for $900,000 or R13,500,/- giving 
at the end of that year a gross return of the value 
of R20,000/, the Rubber in this 200 Acres to be 
planted 15 feet by 30 feet. 
Copies of Mr Carey's Report have been sent round to 
all the Members of the Syndicate, also of Mr Kelway 
Bamber's Report on the Pendamaren soils, which was 
most satisfactory. 
A new Director and Secretary will have to be 
appointed in the place of Mr H C Harrison who is 
leaving the Island. 
As Funds are insufficient to carry on the work 
of the Estate, until the Rubber trees begin to bear, 
it is proposed to raise the nominal Capital to 
B250,000/- and during the Autumn to raise 80 new 
shares at par to existing Shareholders in proportion 
to their holdings. 
R. c. 
Expenditure to date is ... 97,881 11 
EstimatedExpenditure for 1902, Rubber 
alone ... ... ... 22,667 00 
Estimated Expenditure for 1902, Pro- 
vision for Coffee ... ... 7,725 00 
EstimatedExpenditure for 1903, Rubber 18,289 00 
„ Coffee 600 00 
1904, Rubber 19,826 00 
„ Coffee 450 00 
1905, Rubber 16,729 00 
„ Coffee 4,500 00 
R188,667 11 
From the beginning of 1906 the Estate should be 
seH-supporting. The estimated profits on Coffee 
being sufficient to carry on, from that date, until tUo 
Rubber trees give their first yield, 
February 20th, 1902. 
