806 
THE TROPICAL AGRICULTURIST. 
[.Tttne 2, 1902. 
been commensurate with the improvement in quality. 
A further extent oi young Tea came into the plucking 
area rlnriug the past year; all young and weak fields 
have been very lightly traated, and this has contri- 
buted to the lowering of the average yield per 
bearing acre. 
The net profit for the year amounts to £5,9C2 3 8 
To which has to be added 
baliinoe from 1900 Aoc unt. .i;2,349 15 S 
LesQ Bad Debt (Oeylou) now 
writtea 9S . . 289 13 6 
2,060 1 9 
Together . . 
Dividends have been paid as 
follows : — 
On the Preference Shares at 
6 per cent per annum — 
On 1st July, 1901, and 1st 
January, 1902 
Leaving now to be dealt with 
This the Directors propose 
to appropriate as follows : — 
(1) In payment of a Dividend 
on the ordinary shares of 
2^ per cent (free of Income 
Tax) for the year 1901 
(2) In writing off Cost of Pro- 
perties, including Deprecia- 
tion of Machinery and 
Buildings 
(3) In carrying forward to 1902 
the balance o£ 
8,022 5 5 
2,700 0 0 
... ^5,822 5 i 
2,250 0 0 
1,600 0 0 
2,0725 0 
— £5,322 5 5 
The following are details of the acreage of the 
different properties as on 1st January, 1902:— 
ACEEAGE UNDER TeA. 
Polatagama 
Weoya and New 
Polatagama . . 
Walpola 
Rondura 
791 
pq 
59 
632 
871 
506 
95 
87 
841 
727 
871 
601 
o 
201 
345 
145 
6519 
1,042 
1,072 
1,016 
1,230 
2,800 182 58 3,040 1,320 4,860 
The Company's properties are well equipped with 
buildings and machinery, and are generally in good 
heart and condition. The Directors trnst, in view of 
the steadily increasing demand for British-grown 
teas, that a return to a profitable level of market 
values may soon be experienced, Rir W J Smith 
having retired from the Board, the Directors appoin- 
ted Mr John Mclnnes Skinner to fill the vacancy, 
and the appointment will be submitted for confir- 
mation by the Shareholders. In terras of the Articles 
of Association, Mr A Thomson retires from the Board, 
and, being eligible, offers himself for re-election. 
Messrs. (Jape and Dalgleish, C A, offer themselves 
for re-eleoti(m as Auditors of the Company. — By order 
of the Board, T. A. Williams, Secretary. 
27, Mincing Lane, London, B.C., 2nd April, 1902. 
GENERAL 
CEYLON TEA 
LIMITED. 
ESTATES, 
HF.POlfT OF THE DIRECTORS 
and accountri to Dooombor 3l8t, 1901, to be submitted 
at the 5th annual general meeting of shareholders, to 
beheld at Cannon Street Hotel on Monday, the 14th 
April, 1S02, at 12 o'clock noon. 
The DircclorB bog to submit herewith the accounts 
of the Company and their report for the year ending 
Dee<:mber 31st 1901, showing a profit of £11,737 Ss Od. 
After allowance for debenture inleiest and other 
charges, there remains a Bum of £3,717 153 lid at the 
credit of profit and loss, to which has been added a 
balance of £493 3s lid brought forward from the pre- 
vious year, making a total of £4,210 19sl0dout of which 
the Directors have written off a sum of fS.O&J on 
account of depreciation of plant and machinery and 
propose to carry forward the balance of £2,210 19s 103, 
The crops from the Company's estates amounted to 
2,371,738 lb. Tea, exclusive of bought leaf, against an 
estimate of 2,611,000 lb tea, 2,133 bushels of coSee, 
and 262 cwt. of cocoa. 
The tea cost, sold in London, 5 03d., and realised 
6-04d. per lb. The exchang* for the year averaged 
Is. 4 17-64d. 
The yield per acre was 433 ib over the fislds in full 
bearing, after allowing £00 lb per acre for the partial 
bearing fields. 
The present cultivated aoreag* is as follows : — 
Tea in bearing ... 5,139 Acres. 
Tea in partial bearing .. 297 do 
Not in bearing . . 163 do 
Cocoa .. 126 do 
Coffee ... 1)8 do 
Total cultivated area 5,843 Acres. 
The decrease in the expenditure, as compartd with 
the previous season, ia largely due to the temporary 
suspension of manuring operations for a portion of 
the year. 
The position of affijiirs during the year decided the 
Directors that this curtailing of expenditure was 
prudent, but they are satisfied that manuring can now 
be resumed. 
The statistical position of the tea industry has be- 
come sounder during the year, but the present level of 
prices is still unsatitfactory. 
Mr James Sinclair, the Director retiring by rota- 
tion, being eligible, offers himself for re election. 
Messrs Boards, Patersou & C»., the Auditors to the 
Company, retire, and, being eligible, offer themsslves 
for re-election. 
NAHALMA TEA ESTATE CO., LTD 
KEPORT OF THE DIRECTOR.S 
to be presented to the shareholders at the eighth 
annual ordinary general meeting to be held on 
Wednesday, 9th April, 1902, at the office of the 
Company, 39, Victoria Street, Westminster, at 12 
o'clock noon. 
The Directors beg to submit their report, together 
with the general balance sheet and profit sxnd Iosb 
account, for the twelve months ending 31st December, 
1901, duly audited witli results, before paying deben- 
tnrft interest, interest on deposits, and Directors' fees, 
iu a pvofic of (after making provision for b id dekts 
incurred on estate piior to 1st October, 1981) i;29 13s 
Id. But after allowing for — interest of various instal- 
ments on prior line 6 per cent., liortgage debentures 
from dates of payment to 31st December last, r.ot 
pay able till 30th June, 1902, £23 8s 4d.; debenture 
int« rest to 31st December, 1901 (not paid ) £540 ; in- 
terest on deposit loans (oot paid) £18 17s 4a ; Direc- 
tors' fees (not paid) £100; debit balance from 190t, 
£423 19s Id there will be a balai;ce al debit ot pro- 
fit and loss account to be carried forward to next vear 
ot £1.076 11a 8a. =£1,106 43 9d. 
The crop obtained was 185.268 lb, as against an 
estimate of 260,000 lb,. The shoi-!,age was due in a 
measure to climatic conlitious prevailing generally 
thioughoufc the Kelani Valley. 
The acreage of the Company's properties on 31st 
December last remained unaltered, at— tea in fall 
bearing, 440 acres; jungle, 246 acres; total 692 
acrijs. 
A change in the superintendents of the estate wa| 
made en 1st October last, since which date the estat? 
