June 2, 1902.J THE TROPICAL AGRlCULrURIST. 
807 
hasshowa better results, which the Direcrtors con- 
fidently hope will be coutinaed. 
The crop for the season 1902 is estimafed at 
210,000 lb. 
Mr John Abernethy, the Director, retiring by rota- 
tion, being eligible, offers himself for re-election. ^ 
Messrs. Fox Sissons A Co., Auditors to the Com- 
pany, offer themselves for re-eleotiou. 
PANAWAi. TEA COMPANY; LIMITED. 
REPORT OF THE DIRECTORS 
to be presented to the shareholders at the tenth 
annual ordinary general meeting, to be held on Tues- 
d'ly, 8th April, '1902, at the office of the Company, 39, 
Vict a-ia Street, Westminster, S W. 
The Directors bee; to submit the general balance 
sheet and profit and loss account for the y«ar ending 
31st December, 1901, duly audited :— The net amount 
at credit of profit and loss account, including 
balance brought forward at 31st December, 1900, after 
providing for general expenses, Directors' and 
Auditors' fees £943 ISs lOd. Dividends on the 7 per 
cent, cumulativs preference shares were paid for 
1901, in full, r.,mounting to £371. It is proposed to 
pay a dividend of 8 per cent on th« ordinary shares 
for the year ending 31at December, 1901, free of 
income tax, which will absorb £510. Leaving a balance 
to be carried forward to next seastn of £62 13a lOd.— 
Total £943 133 lOd. 
The Directors recommend th« distribution of a 
dividend at the rate of 3 per cent, on the ordinary 
shares of the Company for the year ending Slst 
December, 1901. 
The Directors have still to report upon the very 
unsatisfactory state of the tea growing industry. 
Prices during the early part of the season were 
abnormally low, and the rise that took place later 
appears only to have stimulated free plucking where 
possible, and this has tended to re(^«e prices again 
later. 
Mo alteration has taken place during the last twelva 
months in the acreage of the Company's properties, 
which stood : — 
On 31st December last. 
T«a in full bearing ... 590 
Jungle ■ • 341J 
931J Acres. 
The weather during the season was against free 
growth in the Kelaui Valley. The crop realized for 
1901 was 273,322 lb. as against an estimate of 335,000 
ib, and a revised estimate of 295,000 lb. The yield in 
1900 was 339,550 lb. , -, , 
The visiting Agent (Mr F J Clements) reported the 
properties at the date of his last visit as being in 
satisfactory order. ,^ , ^ o- i • 
The Honourable Norman Macleod Sinclair, the 
Director, retiring by rotation, being eligible, offers 
himself for re-election. 
Messrs. Fox, Sissons & Co-, Auditors to tha Com- 
pany, offer themselves for re-election. 
TYSPANE TEA COMPANY, LTD. 
The Directors have the pleasure to submit the 
Balance Sheet and Accounts of the Company for 
the year ending 31st December 1901, duly audited. 
The total yield was 277,773 lb. Tea against 280,000 
lb estimated and 252,3731b, obtained last year, a^id 
in view of the generally unfavourable season this 
may be considered satisfactory. 
The average price realised per lb. Tea was 5.65d. 
nett against 5.7 2d. nett last year. 
The expenditure includes the cost of new machi- 
nery about £440, and upkeep of new clearings about 
£142, charged against revenue. The factory is now 
fully' equipped, and for some time to come only re- 
pairs should be necessary. ^ ^- , -, , oor nnr 
The present season's crop is estimated at z».),U00 
lb, Tea. 
Exchange averaged Is 4.|a per rupee against ls4 5-16d 
last year. 
The Net Profit for tho year, 
after payment of the Interest 
on Debentures, is .. ^986 10 4 
To which has to be added 
the balance brought forward 
from laet year of ... 176 7 3 
The Directors have already 
paid out of this an Interim 
Dividend of 2 per cent., free 
of Income Tax 
Income Tax 
And it is proposed : — 
To pay a final Dividend of 
4 per cent, free of Income Tax, 
making 6 per cent, for the 
year 
And to carry forward 
-£1,162 17 ? 
360 
60 
720 
22 
0 0 
9 10 
-£1,162 17 7 
Mr. Edward Dumaresq Thomas, the retiring Direc- 
tor, offers himself for re-election. 
The Auditor, Mr. J Hamilton Alston, also olfera 
himself for re-election. 
The acreage of the Estates is as follows : — 
Tea in bearing 693 acres. 
Tea in partial bearing 47 do. 
Tea planted in 1897 10 
Do 1898 28 
Do 1899 4 
Do 1901 18 
Jungle, Timber, 
Waste, &o. 
do. 
do. 
do. 
do. 
168 do. 
968 acres. 
AUGUSTA TEA ESTATES CO., LTD. 
FIFTH. ANNUAL REPORT. 
The Direjtors beg to submit the Audited Accounts 
for the year closing 31st December, 1901. 
The quantity of tea manufactured has been 125,971 lb, 
which has brought an average price of 6'36d per lb. 
gross, the cost of production having been 23-12 
cents., or equivalent to about 4id per lb. in London. 
The average rate of exchange has been Is 4 ll-32d. 
The result of the year's working has been satis- 
factory, and the Directors are able to write off an ade- 
quate amount for depreciation. 
The profit and loss account shows that, after 
writing off £232 lOs from Factory and Machinery 
account, there is left a sum of £225 lis 7d at 
credit, and out of this the preference dividend for 
the year has been paid and the balance carried for- 
ward to next account. 
By the Artic;es of Association, Mr Edward H Han- 
cock retires and, being eligible, offers himself for 
re-election. 
The Auditors, Messrs Singleton, Fabian & Go,, 
also offer themselves for re-election, 
Charles A. Rkiss and Thomas J. Laweence, 
Directors, Albin B. Tomkins, Secretary. 
London, 17th March, 1902. 
LINDULA tea company, |LTD. 
The Directors have the pleasure to submit tha 
balance sheet and accounts of the Company for' the 
year ending 31st December, 1901, duly audited. 
The total crop was 171,311 lb. tea, against 
185,000 lb. estimated, and 185,634 lb. obtained 
last season. The falling off in yield is chiefly 
attributable to the unfavorable flushing wtiather 
during the latter half of the year. The crop 
was at the rate of 535 lb. per acre, and 
cost 27 cents per lb., free on board at Oolomlio, and 
the gross average price of the 166,050 lb. sold in 
London was 8Jd against 8|d for 174,820 lb sold last 
year. The current season's estimatej is 175,000 lb, 
tea. 
