THE TROPICAL AGRICULTURIST. 
[July" I, 1891 . 
THE EASTERN PEODUCE AND ESTATES 
COMPANY, LIMITED. 
Report presented :d thd Fourth Ordinary 
General Meoting', to be held at Winchester House, 
Old Broad Street, at 12 o'clock noou, ou the 30th 
April, 1891. 
The Directors herewith sabmit Report and Balance- 
sheet for the year's working, ending 31irt December, 
1890. The profit for the year has amounted to 
£22,122 Ifl 5d, and, after providing £11,749 IBs 
fur puymont of luterest en Debentures and Preference 
Share divide',.<i, carrying £2,800 4i 4d to the Reserve 
Fund, to complete the required arroant of £10,000 
and setiing aside £3,000 as a Sinking Fund for 
retirement of Debentures in aecordauce with the 
Company's Articles of Association, there remains a 
balance of £4,672 4s. Id. to be carried forward. This 
result which has again been assisted by the yield 
from the Coffee slill rsmniniug on the Bitates, and by 
a satisfactory increase in the Company's Agency and 
Oommission business, indicates a steady annual rale 
of progress whioh the Directors venture to think 
cannot be otherwise than encouraging to the Share- 
holders. As shewn in tha schedule auuoxed, there are 
9 266 acres of the Compau-y's E tates under tea 
cultivation, of which about .5,400 are over four years 
old. The yield of tea in 1890 was 1,518,000 lb., the 
average gross price obtained, inclusive of purchased 
leaf, baing approximately liid. per lb. The crop for 
the current year is estimated at 1,7,10,000 lb. The 
Directors in the e.Kcroise of their discretion tave sold 
GigraT Ella Estate and a storo near Colombo, and 
have purchased the Kolapatna and Gougalla properties, 
Th6 liquidation of tlie Ouylon Company Liaiited 
having be!.'n now finally completed, the '.alance of 
amouut retained by the Liquidati^rs to meet c:nting- 
encies has been banded over to the Comioany and 
carried, together with an amouut released on settlement 
of the Corbet suit, to the credit of The l-.states 
Reserve A'o in the sucn of £13,056 19s. 8J. 
Schedule of the Company's estates at 81st Decembfr, 
IggO; — Arapolakande, Asgeria and Bladdawella, Bulat- 
watte Ditto, Belgodde, Colombo (Let ou lease), 
Condegalla, I)andukelav;a, Doombagastalawa, Drorao. 
land, ilope. lugurugalla and Berrewella, Kirrimittia, 
Koladeuia, Kolapatna and Gongails, Kumaradola, 
Koladenia, Kolapatna and Gongalla, Kunjaradola, 
Lftbookello, Meddecoombra, Moatefiore, Norwood, 
Rothschild, Sinnegodde and Belle Vue, Sogania, 
Vellai Oya, ^yevekellie, Woodsiee. 
Under Tea 8,696 
,-, Tea (with some remain- 
Acres 
ing Coffee) 
Coffee , 
Cocoa 
Cinchona, Cardamoms 
and Sundries 
Forest, Grass and uncul- 
tivated Land 
570 
9,266 
160 
624 
3S2 
7,382 
Total 17,764 Acres. 
Dr. 
BALANCE Sheet, 31st December 1890. 
Liabilities. 
s. d. 
To Capits.l Stock 
Nominal Capilal, M.iiOO Ordi- 
uary Shares, £b each ... £30,3,000 
4,000 Preferred Shares, £o each 20,000 
Ordinary Sharen, 59,538 al- 
lotted, at jCS 
Ordinary Sharcp, 289 un- 
claimed, at £5 
Prefened Shares, Issued, 
iil per .Share called np 
297 690 
6 per cent Debentures 
Debentures lutereet ... 
£195,200 0 
US 15 
Estates Reserve Account, Eealization.s 
aad Mecoveiies 
Fire IiiijUrance Account .,, 
Suudry Creditor Balances 
Bills payable 
Heserve Fund 
Protit aud hObS A/c ... ... 
Proposed apprupriation : — 
Dividend on Pcefered 
Shares ... £37 13 0 
Coinplctionof £10,000 Re- 
serve Fund ... 2,8(0 4 4 
Debenture Sinking Fund.. 3,000 0 0 
To be carried forward ... 4,572 4 1 
299,888 0 0 
19J,045 15 4 
20,'-"20 18 10 
905 17 2 
10,386 6 7 
14,82d 5 4 
7,199 15 8 
10,410 1 5 
£10,410 1 5 £560,283 0 4 
Cr. 
By 
Assets. 
Amount repre-entiog Lauded and other 
Property acquired at Ist January 1888, 
under agreement dated lOth October 
1887 
Outlay on Tea exteaaions an! acquisi- 
tion o£ land ... ... 
Balance of outlay on 
Machinery & Build- 
ings at 3l3t Deo. 
1889 
Expended in 1890 .. 
Less amount written 
off for depreciation 
in 1890 
s. d. 
436,117 4 0 
26,419 17 5 
£11,815 
1,877 1 8 
Produce on hand 
Advanced against produce and supplies 
for E'tated ... 
Furniture 
Su! dry Debtors ... ' 
Loau on mortgage 
Investments ., 
Bills receiTable 
Cash on Uepcsit acd at Bankers 
9,P38 14 
31. .551 10 
11,953 5 3 
77 15 11 
13,799 10 0 
2,U0 0 0 
8,48iJ 10 11 
301 6 3 
19,533 5 11 
£560,283 0 
Profit and Loss Account, for Yeab ended 
SlsT Decembbb 1890. 
753 
Dr. 
To Produce on hand, 1st January, 1890 
,, Expenditure : — 
UX^keep ot Estates, including cost of 
purchased Tea leaf and allowance 
for deprecia'ion oa machinery and 
buildings 
Salaries, Office expenses, and General 
charges iu London and Ceylon, in- 
cluding Directors and Managing 
Director's and Auditor's remune- 
ration and Income Tax 
,, Interest on Debentures ... 
„ Balance 
£ e. 
27,377 1 1 
65,450 6 11 
6,306 
11,712 
10,410 
Cr. 
By Balance, 3l9t December, 1889:— 
Dividend on Preferred £ 
Shares ... .. 37 
Balance te Keserve Fund 6,764 
s. d. 
13 0 
1 10 
£121,256 0 8 
£ s. d. 
6,801 14 10 
6,801 14 10 
liy lucerne :■— 
Proceeds of Produce sold and bought 
to account at 31st December 189ii, 
and profits from Agency business, 
Interest, &c. 
Estimated value of Produce on hand at 
3 Ist December 1690 ... 
89,701 10 ' 
31,554 10 
£121,256 08 
PROPOSED "CORNER" IN TEA. 
Mr. BIwood M-iy, cue of the Directors of the 
(3eylon American Toi Company of New York, has 
cal'ed upon many of the firms interested in tea pro- 
duction, with the view of propounding his scheme for 
