808 
THE TROPICAL AGRICULTURIST. 
fJuNE 2, 1902. 
Drafts were negotiated at an average rate o£la4Jd 
against Is 4 9-32d last year. 
The Nett Profit for the year 
amounts to . . £1,722 18 9 
And the Balance from 
last year to . , 217 0 10 
Mr James Sinclair, the direct r retiring by rotation, 
being eligible, offers himself for re-election —H, 
and C, Mail, April 11th. 
£1,939 19 7 
Making a total of 
The Directors have al- 
ready paid out of 
this. Dividends on the 
6 per cent Preference 
Shares for the year 
endingSlst Deo., 1901 £780 0 0 
Interim Dividend on 
the Ordinary Shares 
of 2| per cent: free of 
Income Tax .. 650 0 0 
Income Tax . . 83 12 10 
And it is Proposed : — 
To pay a Final Diividend 
of l:j per cent free of 
Income Tax on the 
Ordinary Shai-es, mak- 
ing 4 per cent for 
the year ., 390 0 0 
And to carry forward 
the balance of . . 36 6 9 
£1,939 19 7 
The Director retiring on this 03casion is Mc 
Edward Dumaresq Thomas, and, being eligible, he 
offers himself for re-election. 
The Auditor, Mr J Hamilton Alston, also offers 
himself for re-election. — By Order of the Board, 
EoBERTSoN, Bois & Go.. AgcHts End Secretaries, 
GENERAL CEYLON TEA ESTATES, 
LIMITED. 
The following is from the report of directors, 
to be submitted at the fifth annual general meet- 
ing of shareholder.s, to be held on Monday next : — 
The directors beg to submit herewith the 
accounts of the company and their report for the 
year ending December 31, 1901, showing a profit 
ef £11,737 8s. After allowance for debenture in- 
terest and other charges, there remains a sum ct 
£3,717 15s lid at the credit of prolifc and loss, to 
which has been added a balance of £493 3s lid 
brought forward from the previous year, making 
a total of £4,210 lOs lOd, out of which the 
directors have written off a sum of £2,000 
on account of depreciation of plant and 
machinery, and propose to carry forward 
the balance of £2,210 19s lOd. The crops from 
the company's estates amounted to 2,371,738 
lb tea, exclusive of bought leaf, against an estimate 
of 2,614,000 lb tea, 2,133 bushels of coffee, and 262 
cwt of cocoa. The tea cost, sold in London, 5 03d, 
and realised 6'04(1 per lb. The exchange for the 
year averaged Is 4 17 64d. The yield per acre was 
433 lb over the fields in full bearing, after allowing 
200 lb per acre for tiie partially bearing fields. The 
present cultivated acreage is as follows : Tea in 
bearing, 5,139 ; tea in partial bearing, 297 ; not in 
bearing, 163 ; cocoa, 126 ; coffee, 118 ; total culti- 
vated area, 5,843 acres. The decrease in the ex- 
penditure, as compared with the previous season, 
is largely due to the temporary suspension of 
nianin ing operations for a portion of the year. The 
position (*f affairs during the year decided the 
directors that this curtailing of expenditure was 
prudent, but they are satisfied that manuring can 
now be rc-uiiicd. The statistical position of the 
tea industry has become fiounder during the year, 
]jut tlic pi Chont level of prices is still unsatisfactory. 
STANDARD TEA COMPANY OF 
CEYLON, LIMITED. 
The following is from the eleventh report of the 
directors to tiie shareholders, to be sulnnitted at 
the general meeting, to be held on VVednesdav, 
23rd in.st :— 
The directors submit statement of accounts to 
December 31, 1901. The profit and lo.ss account 
shows a profit on the working of the estates in 
Ceylon of £10,980 19s 8d, which, with the amount 
brought forward from last >oar, less interest and 
home charge?, shows a ^um of £lO,183 Us 8d 
available for division. In August, 1901, the 
directors, under the powers entrusted to them, 
distributed an interim dividend for the six monthls 
ending June 30, 1901, of 5 per cent. (10 per 
cent per annum), alworbing £2,975. They now 
recommend a dividend at the rate of 10 per 
cent (making 15 percent for the year) absorbing 
£5,950; and the carrying forward to the next year 
£1,258 lis 8ii. The coffee crop was 24cwt; it reali'ed 
about £95. The tea crop was 1,105,996 lb, against 
1,129,753 lb in 1900. The average exchange for the 
company as drawei.s in Colombo was Is 4 5-32d 
against Is 4 7-32d in 190 J, and Is 4 9 32d in 
1899. Prices for Ceylon teas were again generally 
lower this last season. Of the company s teas 
produced during 1901, those from the St Leonard's 
factory sold at about IJil per lb lower price than 
19C0 teas ; tl^ose from Gordon, Id per lb lower ; 
those from Gouravilla, at about the same average 
price. 'Ihe company's properties at the close of 
1901 were 3,466 acres, with 2,188 acres of tea 
considered inSfull bearing, viz :— In Uda Pussdlawa 
— St Leonards and Coneygar, 902 acres, 53!j acres 
tea bearing; Liddesdale, 814 acres, 200 acres tea 
bearing ; Eskdale, 240 acres, 227 acres tea bearing ; 
Gordon, 386 acies, 304 acres tea bearing ; Tulloes, 
419 acres, 275 acres tea bearing ; in Up. Ma^-keliya 
— Gourawilla and Up. Ciuden, 7C5 acres, 652 acres 
tea bearing. There are also 293 acres tea in 
partial bearing, and some 28 acres in addition 
planted with tea. Mr Norman \V Grieve, the 
Director, who retires by rotation, bein? eligible 
offers himself for re election.— if ct- CMail, April ll! 
BALMORAL (CEYLON) ESTATES 
COMPANY, LTD. 
Tha Directors have the pleasure to submit th« 
balance sheei; and accounts of the Company for th« 
year ending 31st December, 1901, duly audited. 
The total yield of tea was 595,197 lb., against 
563,556 lb. last year, being at the rate of 616 lb. 
per acre all round ; the cost of production, excln^ 
sive of capital expenditure, was 24^ cents per lb. 
free on board at Colombo, and the Gross arerafe 
price obtained was 8.53d per lb, against 8.86d 
per lb. last year— Sandringham teas averaging 8 28d, 
and Clydesdale 8.78d per lb. Exchange have 
averaged throughout the year Is 4 316d against 
Is 4jd last year. 
Two Oil Engines have been erected in the Clydes- 
dale Factory, and the cost of them, *498 8s 4d. is 
charged to eapital account. All other expanditnr* 
havingbeea charged against revenue, the Direstora 
do not consider it necessary to set asida any speoifio 
sum for depreciation. 
