754 
THE TROPICAL AGRICULTURIST. 
[May I 1902. 
SCHEDULE OF THE COMl'AMY.S ESTATES. 
Talawakelle. 
Nanuoya 
Katookella . 
6.0 
a 
EH 
(a) 302 
250 
250 
EH 
38 
30 
a 
(6) 43 
3 
w 
(c) 22 
9 
8 
O 
JH S O 
405 acres. 
262 ,, 
28(5 „ 
Totals ... 803 G8 46 39 955 acres. 
(a) 3 acres leased from the Piopiietors of the 
Boutiques. 
(6) 36 acres felled for plantiug with Tea in 1902. 
(c) 2 acres leased to Messrs. Davidsou & Brown 
POETMORB 
TEA COMPANY 
LIMITED. 
OP CEYLON, 
REPORT OF THE DIRECTORS 
to be submitted at the Fifth Annual Ordinary General 
Meeting of Shareholders, to be held at 24, Rood Lane, 
London, E.G., on Wedoesday, 26th March, 1902. 
The Directors have the pleasure to submit the general 
balance sheet and profit and lo.-^s account for the year 
ending 31st December, 1981, duly audited. The net 
amount at credit ot profit and loss, after providing for 
general expenses, income tax, &c., is £4,375 lis Od, to 
which should be added balance brought forward from 
last year, ^684 14a lid, equal £5,060 53 lid. An in- 
terim dividend of 5 per cent, was paid, August 20th, 
1901, amounting to, £2,080 Os Od. It is proposed to pay 
a final dividend of 7 per cent, (making 12 per cent, in 
all, free of income tax) which will absorb £2,800 Os Od, 
and to carry forward to next y»ar £260 53 lid equal 
i;5,06O 5s lid. 
la presenting their fifth annual report, the Directors 
have pleasure in recommending a dividend of 12 per 
cent, for the year ending December 31st, 1901. 
The tea crop from the estates has been' 226,282 lb., 
being at the rate of 486 lb. per acre, against 353 lb, per 
acre last season, the ftilling-off in quantity being partly 
accounted for by a certain acreage having been left 
unplaoked during the latter part of the year, in accor- 
dance with the scheme for the redaction of output 
which it is proposed to continue. 
The cost of production has been £4,314 193 4d, 
being at the rate of 4-57d per pound, and the crop 
has netted £9,167 4s 6d, being 9"72d per pound. 
The average price of Ceylon tea sold in London in 
1900 was 7'20d, and the Portmore gross average was 
10'47d, and while the average price of Ceylon tea 
for 1901 fell to G-86d, the Portmore average rose to 
10'66d, proving that the quality has been fully main- 
tained, 
The average rate of exchange has been la 4"32ds, 
against Is 4 9 64ths, last year. 
Mr L M Torin retires from the Board by rotation, 
and being eligible, oflers himself for re-election. 
The latest reports from the manager in Oeylon 
shews that estates, buildings and machinery are in 
good order, and the estat'-a of crop and expenditure 
giye promise of continued ^ jod results. 
The Directors feel thut great credit is due to Mr 
R C Grant, the manager, and Mr H A Grigg, the 
superintendent in Ceylon, for the way in which they 
have cultivated the estates and maintained the high 
quality of the tea during the past year. 
THE CRAIGHEAD TEA COMPANY, 
LIMITED. 
REPORT 
to be presented at the fourth ordinary annual general 
meeting of the Oraighcjad Tea Company, Limited, to 
bo hold at the officfiM of the Company, 12, Fenchurch 
Street, London, on Thursdav, the 27th March, 
1902, at 2-30 p.m. 
The Directors have the pleasure to submit the 
balance sheet and accounts of the Company for the 
year ending 3Ist December, 1901, duly audited. 
The mortgage was reduced to £3,l.-,0 by the pay- 
ment of the third instalment of £450 on the 3l3t 
December last. This sum is debited to profit and 
loss account, and is an ample charge for depre- 
oiation. 
During the year 32 more acres of land have been 
purchased, the cost of which ha,8 been added to 
capital account. 
The total yield, excluding some 20,000 lb, mxde 
from purchased leaf, was 481,265 lb. tea, and the 
gross average, price obtained in London was 6 67d 
per lb. Lifrt year the crop was 395, l(i5 lb. tea, and 
the gross average was 6'85d per lb. 
The Net Profit for the 
year amounted to . . 
And the Balance from 
la&t year to 
Interest on the Mort- 
gage has been paid ... 
The Third Instalment 
of the Mortgage (£4,500) 
has been paid 
Dividend on the six per 
cent. Preference Shares 
for the year has been 
paid 
An Interim Dividend of 
3 per cent, on the 
Ordinary Shares, free 
of Income Tax, has 
been paid 
Income Tax 
It is proposed — 
To pay a final Dividend 
of 5 per cent, free of 
Income Tax, on the 
Ordinary Shares, which 
will require 
And to carry forward 
the Balance of ., 
£ 
B. d. 
3,034 9 0 
670 4 6 
180 0 0 
450 0 0 
481 16 0 
£ 
3,704 13 G 
687 6 
89 10 
1,145 10 
670 11 
£3,704 13 6 
The Directors desire to place on record their 
appreciation of the efficient management of the 
estates by Mr Ernest Bertie Hay and hig staff. 
Mr. Charles Murray Robertson, the Director who 
retires on this occasion, being eligible, offjrs him- 
self for re-election. 
Mr. J Hamilton Alston, the Auditor, also retires, 
and offers himself for re-election. 
The approximate acreages are as follows aa 
recent survey : — 
Aorea. 
Tea. — In bearing 
Tea. — Not in bearing , . 
Ravines and Waste 
Timber Clearings 
Jungle and Patana 
per 
1,042 acres. 
THE BATTALGALLA ESTATE CO., LTD. 
TwelfLli annual report to the shareholders : — 
The Directors regret that, owing to deficiency in 
the yield in consequence of unfavourable weather, and 
the continuance of a depressed range of prices for 
the produce, the results of the past year have not 
been satisfactory. 
The quantity manufactured has declined from 
274,556 lb in 1900 to 218,531 lb last year. The average 
selling price in London has been 9'34, against 8 38 
in 1900, and in Colombo 37'06 cents, against 36 cents 
the previous year ; the total crop averaged a selling 
price of 7'50d, against 7-85d in 1900, 
