September i, i8qo.] THE TROPJC^L AGRICULTURIST. 
169 
THE OEIENTAL BANK ESTATES COM- 
TANY, LIMITED. 
Authorised Capital ... £566,700. 
Dieectoes. — Alex. William Crichton, Esq., Andrew 
John Macdonald, Eeq., William Cotton Jiohde, Esq , 
Grant Heatly Tod-Heatly, Esq. 
Report of the Board of Directors for Thursday, 
July 17th, 1890, at noon 
The Directors have much pleasure in submitting to 
the Shareholders their report of proceedings during the 
fourth year of the working of the Company. The net 
profit as shewn in the audited accounts annexed hereto 
amounts t<i £26,628 11s 6d (including £159 2s 4d brought 
forward) as against £25,803 16a lid last year. An 
interim dividend of 3a 6d on the Preferred Shares and 
of 6d on the fully paid Ordinary Shares, and of a pro- 
portionate amount on the partly paid Ordinary Shares 
was paid in February last, and the Directors now re- 
commend the payment of a similar further dividend 
making a total payment of 7 per cent per annum on the 
issued Preferred Shares, and of 5 per cent per annum 
on the Ordinary Shares, in proportion to the capital 
paid up thereon for the year ended 31st March, 189C. 
The further dividend now recommended as above, will, 
if assented to by the Meeting, be payable on the 1st 
August, 1890, at the London Office of the Company’s 
Bankets. 
The estimated yield of Tea from the Company’s Es- 
tates has been fully realised, but owing to the low 
ranges of prices ruling during the first three mouths of 
the year under review, purchase of leaf was restricted 
during that period. The average price obtained for all 
tea sold has been the same as in the previous year — 
viz., lid. The expenditure on manuring and otherwise 
improving the plantations has been continued, ns re- 
sults obtained from these works have proved most 
satisfactory. The supplying of vacancies has been 
careiully done, but during the past season it has not 
been deemed advisable to extend the area of land 
planted with tea. The increase of ihe yield of coo a 
during the past year from the Company’s Estates has 
been consiUerable. The crop has been harvested iu 
good condition, and the prices realized have been such 
as to indicate its good quality and the care 'akeu in its 
preparation. The Directors have sanctioned extensions 
of tills cultivation in snitabie looalities on the (states, 
which additions, when they come into bearing, will 
materially increase the value of the properties. As the 
Directors anticipated last year, the price for cinchona 
bark has ruled throughout the year above that obtain- 
able at the last meeting of the Company ; but the sup- 
plies, although considerably smaller, have not yet suffi- 
ciently diminished to impart a sound tone to the mar- 
ket. The crop of coffee has been larger than last year 
and good prices have been obtained for the same. 
In Mauritius a satisfactory crop of sugar has gene- 
rally been secured on the estates in which the Com- 
pany is interested, and, notwithstanding the decline in 
the value of this product in the European markets, good 
prices were obtained by the Company for its sugars. 
The cost of labour and supplies for coolies has been 
somewhat higher during the past year than previously 
experienced, but it is expected that the increased co.st, 
if it should continue, will be met by the results to be 
obtained from the improvements in cultivation and in 
the manufacture of sugar. 
Shareholders will be interested to learn that five 
prizes were awarded at the Dnnedin, New Zealand, 
Exhibition for sugars made on estates under the 
management of the Company. 
Balamce Sheet to 31st March 1890. 
Dr. Liabilities 
Paid-up Capital — 
226,816 Ordy. Shares £1 each ful'y paid 
1 446 Ordy. Shares £1 each Is paid 
40,9u2 Pref. Shares £5 each fully p.id 
4 ; per cent Mortgage Debentures 
Sundry Creditors— Acceptances 
Accounts Payable 
Balance (as per Profit and 'Loss Account) 
£628,383 
s d 
Cr. Assets. £ s d 
Cost of E.states, Claims, Shares, &o., held „ 
by tile Company as per last account 431,973 1 5 
Additions since £3,t29 4 2 
Less Salts and amount written 
off Machinery and Build- 
ings .... 2,200 6 5 
828 17 9 
432 801 19 2 
7,832 3 0 
Stocks of Sugars in hand ...■■■ 
Stock of Tea, Cinchona, Cocoa, Coffee anti 
Cardamoms in hand ... 
Office Furniture 
Stores in Ceylon and Mauritius ... 
Sundry Accounts receivable, &c. ... 
Advanced on Mortgage .. 
Suspense Accounts (Stamps on Share Warrants^— 
Balance brought forward £3,000 
Less written off £1,000 
33,324 
71 . 
7,374 
10.917 
13,037 
2,000 0 0 
£628,385 6 5 
Peopit akd Loss Account to 31st Maech, 1890. 
£ s, cL 
To Expenditure : — 
Upkeep of Estates and Charges in Ceylon, 
Mauritius and London (including amount 
written off Suspense account and Allow- 
ance for depreciation on Machinery and 
Buildings) .. ... 99,777 2 8 
Interim Dividend paid In February, 1890 ... 12,825 10 9 
Balance .. 13,803 0 9 
£126,405 14 2 
By Income 
'Balance of profit from last account after 
payment of the dividend 1.53 2 4 
Produce in hand estimated to realize net . 41,156 9 7 
Proceeds of Produce realized to 31st March, 
1890. and profits ari,suig from Agency Bnsi- 
ne.ss, &o. ... .. ... 85,090 2 3 
£126,406 14 3 

COCONUTS AND CINNAMON. 
Veyangoda, June 18tb. — The effects of the seBson are 
rather serious on cinnamon crops, as harvesting has 
ceased. The harvests are during the two monsoons, or 
to be more accurate during the continuance of the mon- 
soon rains, for it is onl> then that there is a free flow 
of sap bet ween the bai k and wood. No rain, no crops is 
the almost universal cry this season. 
Toe prospects of coconuts are very much brighter. 
This is the season for big crops, and big prices are 
netted for them. The demand for coconuts is very 
brisk, as there is much competition between the local 
and Colombo Dessicating Mills. That this may con- 
tinue is the earnest wish of coconut growers. The con- 
sumption at the local Mills, jndging by the strings of 
carts that wend their way thitherwards, cannot be far 
short of 200,000 nnts per month. If report speaks true 
the Colombo concern consumes an equal quantity, 
though I am inclined to think it consumes moie, judg- 
ing by the fact that its sgents come so far efield as 
‘Veyangoda to buy nuts, while they have the run of 
the districts clustering round C h mho to draw sup- 
plies from. It cannot be that the nuts on that side are 
converted into copra, for the price offered for the nuts 
precludes such a possibility. I have heard that one of 
the coconut contractors of the Colombo Firm intends 
going far into the faraons coconut district of the M.iha 
Oya Valley for nut«. Hurrah ! may the demand for 
nnts grow. 'The Oil Mills in Colombo I suppose will 
continue to draw their suppiii s of copra mainly, as 
hitherto, from Negombo and the Districts North of it 
and by water, while the bulk of the trees South of 
Colombo will be devoted to toddy drawing.— Local 
“ Examiner.” 
♦ 
Paper is made in France from hop vines ; and 
it is claimed that the fibre seoured is the best sub- 
stitute for rags yet obtained, as it possesses great 
length, strength, flexibility and delicftoy. — American 
Grocer, June I8th. 
00 
