838 
THE TROPICAL AGRICULTURIST. [June 2, 1902. 
he considers the Tea shews pvS gooci growth, as 
healthy appearance, and is just as capable of Kivinp; 
good crops as it ever wps, and both Mr. Smith aud 
Mr. Porter report favourably of the c-onfUtion of the 
Estate and prospects of crop at Ilidlolhian. 
The average price obtained in London for the 
Burnside Group was 6*047d per lb., and in Ceylon .02?, 
cents, while the oorreaponding averages for Midlothian 
were 7-108d per lb., and 37i cents respectively. The 
average ra'e of Exchange was 1/4 25/64ths per rupee. 
The shortfall in crops and the extremely poor piica 
obtained during the first six months of the year 
account for the unforfuuate position shewn by the 
attached Balance Sheet, and the Directors regret 
that to the loss carried forward from last yes.r 
a further deficit of £742 10s 6d has to be added, 
making the amount at debit of Profit and Loss 
Account £1,067 53 and lOd. 
The Directors have to report that the Debentures 
which matured on the Ist .January last have been re- 
newed as follows, bearing interest at six per cent per 
annum : — 
For three years ... £5,259 
For five years ... 9,150 
£14,400 
The latest Reports from all the Compiny's Estates 
speak favourably of their condition and of the crop 
prospects, the total amouut of tea made up to the end 
of March shewing a considerable increase on last year's 
figures. 
In accordance with the Articles of the Association 
Mr G W Paine retires from the Board, aud being 
eligible, offers himself for re-electioti. 
Messrs Cape & Dalgleish, 0 A., also offer themselves 
for re-election as Auditors. By order of the Board, 
LyA"^L, Anderson & Co., Agents and Secretaries. 
16, Philpot Lane, London, B C, 23rd April 1902. 
Company's Properties, the detailed acreage of vfhich, 
as on 1st January last, is now given : — 
EDERAPOLLA TEA CO. OF CKTLON LTD. 
EEPORT OF THE DIKECTORS. 
To be presented to the Shareholders at their sixth 
ordinary general meeting, to ba held at the OfSoe of 
the Company, 16, Philoot Lane, London, E.G., on 
Monday, 5th May. 1903, at 12 noon. 
The Directors beg to submit to the Shareholder.s the 
Report and Accounts of the Company, duly audited, 
for the year endinsr 31st December, 1901. 
Inclusive of 22,017 1b, made from bought leaf, th« 
total out-turn of Tea from the three Factories 
amounted to 508,058 lb., showing a decrease of 46,372 
lb. compart-d with last season ; a deficiency chiefly due 
to more careful plucking throughout the year. 
The average price realised was 6'186d per lb. as 
aaainst 5"803d per lb. last year, and the average rate of 
Exchange was 1/4 3/8ths, compared with 1/1 27/C4ths 
for 1901. 
The net profit for the year amounts to £1,336 9s 7d, 
which, with £421 15s Id brought forward from last year, 
gives £1,758 43 8d to bo now dealt with, and this it is 
proposed to apportion as follows : — 
Amount as above .. ., £1,758 4 8 
To Dividend of 5 per cent, (free 
of Income Tax) ... £1,275 0 0 
To write off Estate Account. . 300 0 0 
1,,575 0 0 
To c;.,rry forward to next iicoount ... £183 4 8 
It i". hoped that Mr T-'orter, who has been in Ceylon 
for tl/i! pa;-.t thrc' rnoiilli -i, will have returned in time 
to I)'- prcHi-nt at tho General Mesting now called, so 
thiit tb!', Shardinldcj s can obtain from him the latest 
information iiH to the condition and prospects of the 
y 5 
OS a (0 
a.2 
Ardross .. 2.58 
Ederapolla. . 381 
St Helens 255 
15 
lis 
4:1 
68' 
a 
"Sew 
a.s H 
8| 324 
44 648 
34i l^ 303 
Totals.. 894 163 7 llOi 87 13i 1,275 
In .accordance with the Articles of Association, Mr 
J M Mf'.omartiu retires from the Board at this time, 
and being eligible, offeis himself for re-election. 
Messrs. Gape and Dalglei.ih, O.A., also offer them- 
selves for re-election as Auditors. 
G. W. Paime, Chairman, 
16, Philpot Lane, London, B.C., 21st April, 1902. 
HIGHLAND TEA COMPANY OF CEYLON. 
REPORT OF THE DIRECTORS, 
To be presented to the Shai'eholders at their sixth 
annual ordinary meeting, to be held at the Office of 
the Company, 10, Philpot Lane, London, E.G., on 
Tuesday, 6th May, 1902, at 1U-30 a.m. 
The Directors have pleasure in submitting to the 
Shareholders the Balance-sheet acLd Accounts for the 
year to 31at December, 1901, with Auditors' Certificate 
attached. 
The net profits for the year amount to £1,499 3a 6d, 
to which has to be added £105 10s 3d. brought for- 
ward from previous accounts, giving a total to be 
dealt with c£ £1,604 133 9d., and this amount it is 
proposed to apportion as follows : — 
Amount as above £i,C04 13 9 ; An Interim Dividend 
of 2 per cent, (free of Income Tax) paid in Septem- 
ber, absorb £640 0 0; It is now proposed to pay a 
final dividend at the same rate, making 4 per cent, 
for the year (free of Income Tax) £640 0 0 ; To 
write ofi Estates Account £250 0 0. Total £1,530 0 0. 
Leaving a balance to carry forward £74 13 9. 
The results for last year are disappointing, showing, 
as they do, a considerable shrinkage from the profits of 
previous seasons. The factors which have brought about 
the short.ige in question are twofold, viz., the de- 
pressed state of tea market, especially during »he 
early part of the year, and the shortness of crop 
owing to the unfavourable climatic conditions in 
Ceylon. 
The total crops secured for the year from Chryst- 
lers Farm and Glenorchy estate amounted to 241,481 lb. 
against 262,5101b., the average yield over all being 
413 lb. made tea per acre against 4481b., in the pre- 
vious season, while the average price realized in 
London was 74d., against 8d. per lb. 
During the later months of the year your Directora 
have been selling the Tea from Glenorchy estate 
in the Colombo market, the average price realized 
there being 45 cents per lb., which compares favour- 
ably with the prices previously obtained in London. 
The average rale of exchange was 1/4 ll/64th3 as com- 
pared with 1/4 19/64ths at which the previous ac- 
counts were made up. 
Mr, R Porter, now on his way from Ceylon, paid 
visits recently to both estates and reports that he 
found them in excellent order. 
In accordance with the Articles of Association, Mr. 
George C4 Anderson retires from the Board, and, 
being eligible, offers himself for re-election. 
Messrs. Cape & Dalgleish, O.A., also offer them- 
selves for re-election as Auditors. 
By ortler of tha Board, Lyali., Anderson & Go., 
Agents aud Secretaries. 
16, Philpot Lane, London, E.G., 22nd April, 1902 
