^UNE 2, 1902.] 
THE TROPICAL AGRICULTURIST. 
843 
holders, to be held at the Offices of the C >mpany, on 
Thursday, 8th May, 1902, at 12 o'clock noon. 
The Directors beg to sabmit the Balance Sheet aud 
Profit aud Loss Account for the year 19'Jl. 
The net profit for the year 
amounts to ... £1,608 15 9 
To which has to be added the 
balance brought forward 
from 1900 .. 412 12 7 
£2,081 8 -1 
An Interim Dividend of 2 per cent was p^id on 19th 
Sepeiuber, 1901, absorbing £4-10 : Aud the Directors 
now propose to rital with the balance as follows : — 
1. In writing off from cost of Properties, as Depre- 
ciation of Machinery, &o. £1,000, 2. In payment of 
Final Dividend (free of Income Tax) of 2 per cent 
(making 4 ner cent for the year) £440 ; 3. In carrying 
forward the balance of £201 8 4. Total £2,081 8 4. 
per lb. of 6'49 pence, as against the cost of 5d., or 28 53 
cents per lb. f.o.b. Colombo. Exchange for the Com- 
pany's drafts during the year has averaged Is. 4 17-32 d. 
as against the exchange for 1900 of Is. 4 39-64 d. 
The following table gives the acreage of the estates 
for the last five years :— 
1897. 1898. 1899. 1900. 1901. 
Tea in full bear- 
ing 5914 .. 591| ... 591| ... 673 ... 673 
Tea in partial bear- 
ing .. ..63 .. 90 .. 80 ... 22 .. 43 
Tea not in bear- 
ing .. ..6U ... 34i ,. 34i .. 21 ... — 
Cardamoms ...56 ... 56 ... 56 .. 46 .. 36 
,, not in bear- 
ing — .. 10 .. 14 .. 38 ... 38 
Grass and Fuel 
Timber 25 ... 25 .. 25 ... 25 ... 10 
Forest and Waste 
Land ... ...444 .. 434 .. 430 ...416 .. 441 
1,241 1,241 1,241 1,241 1241 
The following is a Statement of the Tea and Carda- 
mom Crops, with the yield of Tea per Acre for the 
same period : — 
Carda- Yield of Tea 
Tea moms. per Acre, 
lbs. lbs. lbs. 
1897 ... 212,555 8,291 360 
1898 ... 206,620 4,026 849 
1899 ... 211,361 4,211 357 
1900 .. 218,572 1,828 325 
1901 ... 230,002 3,119 342 
The Estimates for the current year are, with pur- 
chased leaf, 265,000 lbs., aud 3,000 lbs. Cardamoms, 
which, with 80,000 lbs. Tea to be manufactured for a 
neighbouring estate, will give the Factory about 
300,000 lbs. Tea to deal with during 1902. 
Mr Young has just returned from Oeylon, and 
reports favourably on the Company's properties. The 
plants are looking healthy and in good heart, whilst 
the Factory is ample for all requirements, and well 
equipped with machinery. Another roUor may bo 
necessary towards the end of the year if the output 
of Tea comes up to expectations. 
Mr. William Keswick, M.P., retires from the Board, 
in accordance with the Articles of Association, and, 
being eligible, offers himself for re-election. 
The Auditors, Mes.srs W B Peat & Co., also offer 
themselves for re-appointment. By order of the Board, 
London, April 30th. W. H. Bautlett, Secretary. 
Report. — To be presented to the Thirty-eight 
Ordinary General Meeting of the Company, to be hel ' 
at No. 5, Dowgate lliU, London, ou Thursd.iy, the I5th 
dav of May, 1902, at 12-30 o'clock p.m. 
The following Annual Acoour ts are nov/ presented 
to the Shareholders, viz. : — Balance Sheet made up 
to 21st December, 1901 Profit and Loss Account for 
the year ended 3lst Dcceiubsr, 1901. 
The crop of Tea for the past sa-ison umouuted to 
612,026 lb, and this, together with 5,816 lb brought 
from neighbouring estates aud manufactured at Spring 
Valley, sold for £18,f.25 '8.s 3(i. 
The crop from the fu\7 remaining Coffee trees 
amounted to -i? cwt 2 qr 3 lb, and realised £184 6s 
Od, bviug lit the rate of 77s 7d per cwt, sgaiust 
6Ss 2d obtained for the 19U0 crop. Coffee sold in 
Cevlon to the value of £37 123 Od. 
The total proceeds from the sales of produce 
amounted to £18,747 16s 3d, and txpenditure in 
Ceylon and London to £16,915 Ss 4d, lea'ing a profii 
on the year's working of £1 832 6s lid. To this 
nrL'fit has to be ad'led a sum of £627 18!! 2d, brought 
forward from last Account, and after debiting £90 
Is 6J for Income Tax and £9U0 for Dividend on the 
Preference Share Capital for the 12 months ended 
3l3t December, 1901, there remains a balance of 
£1,470 3^ 7d to be now dealt with. 
The Directors recommended the payment of a 
Dividend of l?j per cent on the Ordinary Capital, 
which will absorb £1,2!:0 of the above sum, and that 
the balance of £270 Ss 7d be carried forward to 
next year. 
The weather during the past year was not favour- 
able to flush, and the crop only reached a yield of 
408 lb of made tea per acre against 483 lb pre- 
viously. The coast of production was consequently 
higher, being 29 cents f.o.b. Colombo, which compares 
with 26-28 cents for the year 1900. 
The uufavourable season aud also fiaer plucking 
on many Estates resulted, however, in shorter crops 
both from Ceylon and India and a better price was 
secured for our pioduce, the average being 7'19 pence 
against 6'81 pauca for the preceding year. 
Cultivation and manufacturing appliances on the 
property have been well maintained and crop is at 
present coming in freely. 
The future depends upon market conditions, and 
these should improve, as while couenmption continues 
to increase both at home and abroad, further planting 
of tea on a large scale has ceased. 
The area of the estate as on .?lst December, 1901, 
was as follows : — 
TEA. 
5 years old and over .. 1,521 acres 
Planted Nov./Dec. ,. 1897 194 do 
Do .. 1898 196 do 
Do .. 1901 10 do 
Total under Tea .. 1,921 do 
lotal under Fuel 163 do 
Forest, &c. .. 257 do 
Oolanakande Estate 365 do 
Total Area . . 2,706 acres 
Mr J G Wardrop, a member of the Board, retires 
on this occasion, aud, being eligible, offers himself 
for re-election. Messrs Deloitte, Dever, Griffiths & 
Co., the Auditors, also offer themselves for re-eleotiou. 
Bv Order, J. Alec Roberts, Secretary. 
London, 5th May 1902. 
SPRING VALLEY ('0F:?EE COMPANY, 
LIMITED. 
Directors. — Messis Alfred Brown, (Managing 
Director) Leon Famin, P C Oswald, J G Wardrop. 
Secretary.— J Alee Koberts. Offices, — 5, Dowgate 
Hill, London, E.G. 
PACIFIC PHOSPHATE COMPANY. 
Pacitio Pliosphate Compiny, Ltd. (7:^,481).— 
Registered April 18tli, with cai)ital ,€250,000 in 
£1 shares (125,000 preference) to adopt an a!i;ree- 
nient with ihe Pacilic Islan(ls Coinp:uiy, Ltd, to 
prospect, .search, examine and explore any terri- 
tories for phosphate, guano, carbonate of lime, 
phosphate of lime, nitrate, alumina, oxide of iron 
aud similar substances or products and other 
