192 
THi£ YROFIdAL AQRICULTUf^lST. [September t, 1891. 
at first quietly, but wbioh will be capable of ex- 
pansion and extension in due time. Its first object 
will be to take up tbe work which has been going 
on in France since the Exhibition oE 1889. It will 
probably next turn its attention to America, and 
endeavour to effect a foothold at the forthcominsr 
Chiesgo Bshibition. Its future developnsenta will 
depend on oitcumatacces. The fact remains, however, 
that if properly supported by the Indian tea industry, 
a nnolens will be formed for extension in almost 
any direction, and there will be an organisation 
ready, with funds at ita disposal, to take advantage 
of any and every favourable opening which may 
present itself for extending and pushing the u^e of 
Indian tea all over the world. The planting interest, 
we venture to believe— though at times a little 
slow to act— is not blind to its own self interest, and 
we cannot hut think that, when the scheme is clearly 
lacd before those who have their interests bound up 
withlndian Stea, liberal support will be torfchcoming. 
where is not a great deal of money waoted, and, if 
Tvery company and every individual possessing an 
enterest in tea growins? will give his quota, the actual 
call on each wili amount to a mere trifle. Particulars 
will shortly be made public, but we sound this note 
in advance, in order to prepare our numerous readers 
and invito them to bo ready to play their part when 
tbe time oomea. The prospectus of the Palais Indian 
Tea Houses Company we give elsewhere. ^ 
A Teade Opinion.— Commenting on last weSK s sales 
of Indian and Ceylon tea, the Froduce Markets' Review 
Bsys :_-With a continued good supply of new Indian 
tea at moderate prices more business has been trans- 
acted. The quality of the recent import is not up 
to the average of the earlier arrivals, but the 
decline in value has stimulated the enquiry for 
tbe lower grades. As these have sow fallen to a 
point at which tliey can be freely used, and 
compare favourably with similar dascriptions 
of Ceylon growths, an increased consumption may bo 
looked for, with a further improved enquiry generally. 
The finer sorts are in unusually small supply, particu- 
larly Broken Pekoes with good appearance, conse- 
quently the market continues extremely firm, and pro- 
bably will remain so uniil a more liberal quantity of 
the better class new tea is offering. Eeoent iole- 
ffiMffls from Calcutta report tho quality ot the tea 
hom AsR m as good ; if this is 'confirmed on arrival 
here it will be sure to meet with a goad reception, and 
will sell readily. Tbe quantity of Oe.ylon teas brought 
forward Ibis week has been larger than that during 
the tv/owecedine ones, but not so large, however, as 
was f enerally expected. Prices have, cn the whole, 
rhownlitUei^lteration.forany tendency towards lower 
oateson Tuesdav wne fully compensated for by a de- 
sidedly stroi.cor"feeliDg again on Thursday. Ihe ab- 
sencecf quality is still lamentably noticeable, and ex- 
travat^aiit prices are in consequence being paid for a 
few BrokeuB, which have no claim whatever to be con- 
sidered aa fine teas. 
SPRING VALLEY COFFEE COMPANy, 
LIMITED. 
UlBECrous— John B-owo, Eeq. (Managing Di 
rector), I'Mward Oouder, Esq., Leon Famin, Ksq., Henry 
'"pef'jutVo beVesentod to the Twenty-sixth Ordinary 
UcL-r i' Meeting of the Comp:iny to be held at No. 5, 
Dowcate Hill, London, on Wednesday, the 29th day of 
July, 1801, a» 12-aO o'clock p. m. 
Tbe following Annual Accounts are now presented to 
S'lurfholdcrs viz:— Profit and Loss Account for Crop 
l«8q.OO Uaiance Sheet made uj) to 3lBt May, 1891. 
Crop 1889.90. 
In la-t year's report, shareholders were informed 
that th'j ci-lfee crop of the above season was unsatis- 
)a -tory, and it will bo seen that the actual weight sold 
i./L-^n 'o-i amounted to only 805 cwt. as ngamit an 
o,i"iuul e.,timate of 1,200 cwt. This small ciop, in- 
clusive of inferior colfec sold iu Ooylon, realised 
i l a-lf) 78 2d, the BvecaRe selling price in Loudon being 
1028 4d, as compared with %% 9d per cwt. obtained for 
crop 1888 89. 
The yield of tea on Spring Valley amounted to 
133,000 lb., the estimate in last Report being 113,000 lb. 
and this, together with 38,140 1b., bought from neigh- 
bouring estates and mauufsctared at Spring Valley, 
sold for £7,966 15s 2d, or au averatje of lljdperlb., 
the average selling price last year being lO^d per lb. 
Oolanakande Estate produced 18,477 lb. of tea, in- 
eluding 5,700 lb. madd from Lougbt leaf, which realised 
£748 i!3 2d, and brought an average of 9| per lb. as 
against SgJ per lb- last year. 
Cinchona birit to the extent of 30,226 lb. was al^o 
sold for £313 23 9J, ti.o aveiajie selling price being 2|d 
per lb. or Id per lo.u'ider last year's average. 
The total proseeiis from the saleof nroduce amounted 
to£13,403 7s 3J, t j svhiob has to be added £120 14s 8d, 
derived from interest, making the total receipts 
£13,524 Islld. 
The total expenditure in Caylon and London, after 
allowing for profit on exchange, amounted to 
£13,541 6s lOd and deducting from ihib the. amcuut of 
receipts, there remains a loss of £17 4j Ud on the 
year's woi'king. 
It will be remembered that a considerable sum, 
£'2,475 17s 3d, was brought forward from last year, as 
the Dir ectors bad reason to antioipa'e some such result 
as tbe above, sj 'hat thti amount uoAf sUinHing at the 
credit of Piofit and L itais thertfore £2,453 12? 4d. 
On the 12th Jduuiiry last, &'\ interim dividend of li 
per cent was paid on the oipital of the Ootnpary, aud 
the Directors reooxninGi^d tha; a further diviJend'al the 
same rate be now declared, mailing 3 per cent for the 
year, and leaving £r)8 12; 4t to be carried fi.rwiird lo 
next account. 
Crop 1890-91. 
It is fatisfdctary to be able to report that the on''- 
look for thia season is very good, 'rhe coffe'^ ou'pis 
exjiected to total 3,400 cwt. This mjrked impiove- 
ment is due to the comparative absence of leaf distaso 
and green bug, ths pests which have for so loijg bci-u 
persecuting the coffee bush. The nature of these piS'S 
is, liowever, so peoulinr that it is impossible to s -y 
to what extent this iinmauity c.an be reiied upoa for 
any length of time. The weather has, ro do Ost, 
had much to do with chectiug the influence of tliesu 
pests on the coffee bush during the present season, 
an l although it is hoped that the diseases may only 
continue in a mitigated form, still, in view of past 
experience, it would rash to couut too hopefully on 
these pests not putting themselves strongly in evidence 
again as, we have had simiiiar disappointments in tho 
last few years. On the oth^r lund the coffee is re- 
ported to be looking well for next season. There are 
872 acres still remaining under coffee on Spring Val- 
ley, and it is not intended in the meantime to replace 
any of this area with tea. 
The tea on Spring Valley continues to grow well 
and steadily improve iu yeld, and the crop for the 
abvove season will probably bo about 160,000 lb. 
Tbe prices ruling in the tea market ju^t now are not 
satiafactory. 
The area under tea is as follows: — 
Te.v. 
acres. 
Planted Nov./Dec. 1834, on Spring Valley — 271 
„ May, 1885, on Oolanakande ... 143 
„ Nov./Dec. 1885, on Spring Valley ... 230 
„ May, 1886, on Oalanakande ... 7 
„ Nov./Dcc. 1888, on Spring Valley ... 20 
„ Nov./Dec. 1890, on Spring Valley ... 9G 
Total area under tea ... 767 
The price of silver ruled high during four months of 
the current season, so tliat it is not expected Ihut the 
Profit of ExchaLge will be so krge as last year. 
Mr. Edward CouUer, a Member of the Board, letir s 
on this occasion, and being eligible, offers himself fr 
re-election. 
Messrs. Doloitto, Bever, Griffiths & Co., the Audi- 
tors, also offer themselvea for re-election. By order, 
J. Alec lioBERTS, Secretary. 
July 20l)h, 1891, 
