810 
THE TROPICAL 
AGRICULTURIST. 
[June 2, 1902. 
The unfavorable condition of affairs in the Tea- 
Growing industry, which had to be recorded for 
the year 1900, was, your Directors regret to say, 
continued during the past year. 
It is, however, a matter for satisfaction that the 
profits of the Corncany enable the Directors to re- 
comme-od tlie payment of a dividend of 15 percent, 
free of income tax, for the fifteenth consecutive 
year to the ordinary shareholders ; to set aside 
£5,000 for Depreciation, and to carry forward the 
sum of £8,581 is 3d, 
Owing to finer plucking on some of our estates, 
but mainly due to most unfavorable weather, the 
crop from the Company's tea proprietors shovi-ed a 
diminution of yield per acre of 12 per cent as com- 
pared with the previous year, the output being 463 lb. 
per acre as against 526 lb in 1900. 
The following shows the quantity of tea accounted 
for ill the profit and loss statement : — 
Estate Bought Leaf Tea Manufac- 
Tea. Tea tured for others. Total, 
lb. lb. lb. lb. 
3,957,335 121,960 301,445 4,680,740 
The average gross price for the tea sold in London 
and elsewhere, including bought leaf, was 7'41d 
per lb. compared with 7*15d the previous year, and 
the rate of exchange 1/4 15-64 as against 1/4 19-64 
in 1900. 
The coconut crop was 1,401,768 nuts. Owing to 
the improved state of the market, and the favour- 
able condition of the properties for an increasing 
yield, the future prospects are encouraging for this 
product. 
The year under review has been a trying one for 
those working tea properties in Ceylon, and the 
services of the Company's Staff deserve the appre- 
ciation of the Shareholders for the results obtained. 
Under Clause No. 69 of the Articles of Associa- 
tion, Mr. H K Rutherford retires oa this occasiion 
from the Board and, being eligible, offers himself 
for re-election. 
The Auditors, Messrs. Harper Brothers, Chartered 
Accountants, also retire from ofSce, and offer them- 
selves for re-election. — By order of the Board, 
Wm. Johnston, Secretary. 
London, 19th April 1902, 
AVEKAGES OF TEA E,STATES AT 31ST DEC 1901. 
ACREAGES OF COCONUT ESTATES. 
Coconuts, 
Estates. Districts, 
MariaTvatte 
Atgaila 
Dunedin 
Dewalakande 
Sembawatte 
Mudamana 
I»goya 
Wallaha 
TiUyrie 
458 
450 
9 
i1 i 
<B 
474 
558 
175 
Gampola 
do 
Kelani 
Valley 
do 
Yackdessa 
Kelani Valley 391 
do 522 
Dimbula 247 
Bogawan- 
talawa 617 
Nuwara Eliya 111 
Maskeliya 413 
Dimbula 
do 
101 21 
59 18 
582 
531 
58 — 532 
92 
650 
— 274 226 675 
Scrubs 
Alton 
Taiigakclly 
Waverley 
EastHolyrood do 
Jiosita & Lochiel do 
West Ilolyrood do 
Yoxford do 
Glenlyon and 
I'olmont do 
pilaratmalie, Hapntalo 
823 
364 
6a7 
640 
480 
441 
010 
83 
337 
23 
137 
30 
24 
48 
83 
16 
24 
55 
— 474 
— 859 
20 290 
2 756 
10 151 
12 458 
39 910 
4 368 
46 733 
65 788 
21 517 
13 478 
15 esa 
8,461 
m 183 728 193 1,005 
a 
.S ti 
09 
C3 
n 
eS . 
OB 
Estates. 
Provinces. 2 
a 
ther 
odu 
CJ 
— ® 
Aadigama 
a 
a 
1^ 
o 01 
< 
North 
Western 30 
901 
169 
43 
1,143 
504 
Mawatie 
do 107 
366 
25 
6 
Jakwila 
do 17 
327 
4 
348 
Sirangapath 
e Western 338 
153 
28 
2 
521 
Total Acreages 492 1,747 28 196 53 2,516 
VELLIKELLIE TEA COMPANY OF 
CEYLON, LTD. 
Your Directors have the pleasure to submit their 
Report and Balance-sheet for the year ending 31st 
December, 1901, duly audited. 
The crop amounted to 275,549 lb tea, which cost 
26'90 cents per lb free on board at Colombo, and the 
average price obtained for the 251,699 lb sold in 
London was 8.03 per lb. Last year the crop amounted 
to 233,785 lbs, costing 29.95 cents per lb f.o.b., and 
the average price for the 209,880 lb sold in London 
was 9§d per lb. The crop for 1902 is estimated at 
280,000 lb tea. 
Owing to the f.".ll in the price obtained for the tea, 
it will be seen that, in spite of the increased yield, 
the profits are much the same as last year, and the 
Directors recommend the payment of the same 
dividend. 
An installation of fans in the factory is now com- 
plete, and the cost of this, some £207, has been 
charged against the current season's expenditure. 
The rate at which Drafts were negotiated was 
Is 4 3 16d, against Is 4jd per rupee last year. 
The Net Profit for the year 
amounts to ... 2,241 10 6 
And the Balance from 
last year to ... 108 13 4 
Making a total of ... 2,350 3 10 
The Directors have already 
paid out of this, dividends 
on the 6% Preference 
shares for the year ending 
3lst December, 1900 . . £285 0 0 
Interim Dividend on the 
ordinary shares of 3 % 
free of income tax . . 1,057 10 0 
Income tax . . ... 89 4 8 
And it is Phoposed : — 
T J p I. / I . 1 ii l) -! 1 1 
of 2% free of Income 
Tax on the Ordinary 
Shares making 5% for 
the year .. ... 705 0 0 
And to carry forward 
the balance of ... 213 9 2 
2,350 3 10 
The Director retiring on this occasion is Mr. Percy 
Lawrence Johnson, and, being eligible, he offers 
bimaelf for re-election. 
The Anditor, Mr. J Hamilton Alston, also offers 
himself for re-election. 
f otal Aorcftgen 8,902 199 2,172 707 12,040 
NUWARA ELIYA TEA ESTATES 
COMPANY, LIMITED. 
Report of the Directors— to be presented to the 
sixth annual general meeting of shareholders, to 
be lield on Wednesday, the 30tli day of April, 1902, 
at Winchester House, Old Broad Street, London, 
E.G., at 12 o'clock noon. 
The Directors beg to submit the duly Anditect 
Aooouuts of the Company jio Slst December, 1901 1 
