December i, i8qo.] 
THE TROPSCAL AGRICULTURIST. 
421 
PEOSrECTS OF THE TEA INDUSTEA". 
There has beeu a good deal of correspondence on the 
depressed state of the Calcutta tea market, and the 
impending crisis so likely to cripp’e the lea industry 
seriously. Some correspondents advocate combination 
amongst proprietors, &c., or suggest some artificial 
“ propping up ” of the market during the present 
uncertain period. But though these vague hints are 
thrown out, no real plan likely to meet with success 
has been promulgated. The Calcutta market reflects 
the English market pretty truly, allowing for com- 
missions, and the profits which the middle-man i.e., 
the Calcutta buyer, comes out here for the purpose 
of making. I cannot see that the local market is 
affecting the price of our produce this season more 
than it has done in any previous year. "We are suffering 
from the rise in exchange, and that only ; and so, ns to 
carry on our business we spend the majority of our 
rupees in this country, where they have the same 
purchasing power as before the alteration in exchange, 
wc are in a way double sufferers by the iuflation 
of silver. 
Prices in London aro entirely governed by supply 
and demand, and “ cornering,” or artificial interference 
with supplies, will and can only have the temporary 
effect it has had in the case of so many other pro- 
ducts, with a probable eventual collapse, putting 
producers in a far worse position than they are in 
at present. 
As far as planters are concerned, they can only do 
as your correspondent “ Spectator” suggested ; reduce 
the price of production; that locally is now cut down 
as low as it safely can be, with the exception of 
freight charges, which possibly though improbably, the 
Associations, by representation, might induce the 
United Steam Companies to lower. This is hardly the 
place to discuss the rival merits of high and low cultiv- 
ations, but retrogression in these days seldom pays 
and high cultivation carefully adopted and superin- 
tended doubtless repays itself many times over. The 
cost of labour is a question on which there can be 
no two opinions, and the remedy lies with the pro- 
prietor, shareholders, and agents, more than with the 
planter. Agents’ charges would also bear careful 
scrutiny at a time when all others interested in the 
enterprise are sufferers. But all these remedies and 
suggestions amount to little as long as prices re- 
main at the present rate. 
Combination' amongst owners, shareholders, and 
debenture-holders, Icould secure the abolition ofn the 
Calcutta weekly auctions. AVhat a saving that in it- 
self would be — the buying and selling commissions, 
brokerage, lire. ! And it would obtain for the producer 
the profit the Oaloutta buyer does— must, secure. 
Did he not — and he invariably states it is a losing 
game — how could he afford to oomo to India annually, 
live at the host hotels, enjoy himself, return to 
England at the end of the season ? On the face of 
it, this profit would go into the proprietor’s pocket. 
Should the local demand for India be sufficient 
and the financial condition of certain concerns neces- 
sitate quick realisation of proceeds, a monthly Cal- 
cutta sale would quite satisfactorily supply the require- 
ment. 
Again, overproduction, or rather, say, too rapid in- 
crease in production, has been the chief cause of the 
low prices prevalent the last few years. If those finan- 
cially interested would combine for one year, and agree 
not to open out any new extensions during season 1891, 
but create a strong Syndicate and spend, say, 50 per 
cent, of what they would have spent in extending the 
arui of the plant, to its own detriment, in opening out 
new markets in the Anscraliau and Cape Colonies, 
Canada, and the United States of America, hitherto 
practically undeveloped — I bolisve the real solution of 
the present difficulty is found. 
By push resolution, and the purity and superiority 
of our produce, we have outstod China tea from its 
first place in the London market. With capital, the 
same resolution, and continued superiority of our 
arliolc, without too rapid production, we can, and will 
have, to do tho same olsewhoro,— H. iu the Enr/Uah- 
wait, 
THE CEYLON PLANTERS’ AMERICAN TEA 
COMPONY LTD. 
Eepout op the Directohs with Statement of Ac- 
couNTSFOB Half-year ending 30th June, 1890. 
The Statement of Accounts to June 30th, 1890, shews 
a debit balance of E29, 096-95. 
The profit on Sales has amounted K2, 521-34, but 
the heavy initial expenditure, together with the cost 
of pushing the business in America, have absorbed a 
large amount of the limited capital of the Company, 
Iu May, proposals were made by Messrs. Wattson 
and I'arr, New York, for the taking over by a new 
Company there of the business of the Company formed 
in Ceylon, under which, each Shareholder in tho 
latter would receive for each of his paid-up shares, 
two shares iu the new Company. 
An Extraordinary General Meeting of Shareholders 
was held on July 11th, at which the terms were 
accepted, and tho Hon’ble J. J. Grinlinton, who 
proceeded to New York with powers to ratify the 
arrangement, has telegraphed that it has been given 
effect to, and that the necessary documents have 
been signed. 
The limited number of shares taken in the local 
Company rendered it improbable that its operations 
could have beeu carried on very much longer, and it is 
hoped that the ample amount of capital necessary, and 
which will be provided under the new scheme tliat 
has beeu inaugurated, will ensure the carrying out 
effectually of the objects for the Ceylon Planters’ 
American Tea Company was formed. 
By Order of the Board of Directors, 
For the Ceylon Planters’ American Tea Co., Ltd., 
Darley, Butler & Co., 
Agents and Secretaries. 
Colombo, 22nd October 1890. 
Capital and Liabilities. 
Caiiital : - 
R c. 
57,850 00 
Total amount received as under : — 
persons shares 
7 holding 27 paid R45 per share 
2S9 „ 1,503 paid R35 „ „ 
31 ,, 140 paid R25 „ ,, 
10 „ 23 paid R15 „ „ 
3 „ 37 paid R 5 „ ,, 
356 „ 1,730 shares. 
Particulars of Arrears will be found am 
Debts and Liabilities 
Amount deposited by SUareholdes in antici- 
pation of Calls ... 
Phopeety and Assets. 
Property held by the Company 
Movable Property ; — 
P'urniture and Fixtures at New York 
Stock-in-Trade : — 
Tea at New York Stores, lb. 21,700... 
Coffee ,i „ „ 1,315... 
Curios „ ,, 
Debts owing to the Oompany 
By Amount advanced on a consignment to 
Now York 
,, K. E. Piueo ... . 
„ Divers Debtors ... ... 
Amount considered good at New Y'ork . 
Cash 
At the Chartered Mercantile Bank of India, 
London and China 
In band ... ... ,,, ,, 
Profit and Loss : — 
Balance of ibis account ... 
E. & 0. E. 
1,215 
01) 
62,605 
GO 
3,600 
00 
345 
00 
185 
00 
9,581 
20 
. 210 
00 
) 9,371 
20 
R67.431 
20 
R 
c. 
16,707 
43 
, 3,136 
23 
. 11,082 
80 
917 
17 
1,371 
23 
12,220 
84 
269 
69 
, 207 
78 
! 11,743 
47 
9,405 
OS 
. 9,400 
86 
, 5 
12 
. 29,096 
06 
E67,431 
30 
