5i6 the tropical AGR10ULTUR5S1. [January i, 1891. 
We note that you are exeoutiug the order for tea, 
and some will no doubt come forward iu due course' 
As to the statements and letters of Mr, Davidson 
and Arthur, we can only state that they are in the 
main lies, and that where any truth appears, it has 
been so perverted that it is made rather worse than 
lies. We have tried to find Mr. Arthur, but are 
advised that his “ Sirocco Tea Shop ” is closed, and 
that he has gone to England, The enterprise has 
proved an utter failure wa are told. Wo have just 
sent the following oable~“ Arthur’s tea shop closed, 
has left country, notify Tj'nies, we hold them responsible 
for statements." While we are decidedly averse t-o enter 
into law suits, it seems rather hard that wo should 
be subjected to attacks from parties who seem ready 
to go to any length to damage the prospects of the 
Company. W^e have received copies of your Times 
with full letters from Ceylon, and are writing the 
old Company iu detail. 
In regard to She surplus shares, after the holders 
of shares in the old Company are settled with 
and after the Company is floated and the two hundred 
thousand dollars ($200,000) working capital is raised 
by selling ten thousand shares at par and giving aiuay 
to purchasers of seme, one, two, three or more shares 
of the surplus, as may be necessary as bonus, com- 
mission &o., the balance is to be divided between 
ourselves and the parties interested with us in putting 
the Company through and pushing it to success. 
And of course as the stock is full paid, and un- 
assessible, we can-do what seems best for the iuterejts 
of the Company iu giving away shares by way of 
bonus &o. or by selling stock for the benefit of the 
Company at any price that seems best and without 
subjecting the purchasers to any personal liability for 
the debts of the Company, and you explain to intend- 
ing investors that they are not suhseribing to shares 
of the Company but they are buying them cut and 
out full paid up, and without any furtlier liability for 
calls or debts of tho Company. 
As no salaries are paid to anyone hero interested 
in the stock of the Company, excepting only to Mr. 
Pineo, and this only enough to s-apport him in very 
modest comfort, we and our friends look for our pay 
“ should the Company prove a susoess" in the surplus 
stock we may have been able to retain. If the 
Company fails, we get nothing, that is nothing but 
abuse, of which, by the way we seem to be receiving 
a fair share now “on account.” 
The %200,000 was not actually under- written, but 
could be realized at once under certain oonditions. 
We have alreadj placed some good blocks of stock 
and are placing same from day to day, in the mean- 
time furnishing funds ourselves, relying upon being 
repaid in the near future by making a success of 
tho Company. 
In regard to your remarks about the people who 
are interested in the Tea Estate Company, we would 
say that we shall bo pleased to have them take an 
iuterest in the matter, and think it may prove to 
ebeir interest to take some shares in the Company. 
People interested as they are iu the general welfare 
of Ceylon would do well to look into the matter 
carefully, and we would say to you, that as we wish 
to interest the Coylon people of London in our 
Company, you may consider that you t,re at liberty 
to propose speoial ternis as to number of shares they 
should have as bonus, upon buying some Treasury stock. 
This only applies to specially desirable people of 
which you must be the judges, as ouy policy is not to 
sell any stock except to those who will be of benefit 
to the husiuess of the Company not solely stlUng out 
stock With the object of securing the capital required. 
Our plifcU uiBy uot act quite bo cjuit^kly, l.)ut wo will 
have n better assurance for a regular and increasing 
busincse,— -We remain, yours Jruly, 
(Signed) Wattson & Park. 
Jfew York, November lltb. 
Hon. J. J. Crinliuten, M n.C., Colombo. Coylon. 
Dear Hir — In accorJauoo with lljo undtrstandiiig 
with y m when you wero here that this ompauy 
should difiiiO its position with roganl fioUmg 
pure Ceylon tea, unadulterated and unmixed, we now 
beg to advise you that this Company undertakes to 
sell only the pure and unmixed Ceylon teas — it being, 
of course, understood that our Ceylon and London 
Agents supply us with only the above articles. — Yours 
faithfully, for Ceylon Planters’ Tea Coy., (Signed) 
R. E. Pineo, Secretary, for Ceylon Planters’ Tea 
Company, (.Signed) S. Ellwood May, President. 
Now York, November 11th. 
My dear Mr. Grinlinton.— I enclose herewith a docu- 
ment as requested in your last letter to Messrs. 
Wattson & Farr. You will kindly note that my 
fellow-shareholders here have done me the honor to 
elect me — at this, the most critical time of the Com- 
pany’s existence — its President, which fully establishes 
Mr. Pineo’a position as taken by him, as regards 
myself when he was last in Ceylon. You will no 
doubt remember that some of your journals criticised 
him at that time. 
I also take this opportunity to state that the 
Company formeu bore into which the old Company 
is merged, ha : not only been carefully formulated by 
the Company’s counsel, but that 1 have, individually, 
at different intervals employed three represeuialive 
attorneys of this city to go through this whole affair 
and give me their opinion as to its being unquestion- 
ably fair, honorable, legal and in every Etnio honest 
to ail concerned. When you take into consideration 
that the promoters do not, as usual, agree to put a 
certain amount of stock iu the Treasury, but do agree 
to use enough stock to raise $200,000 in cash, for the 
Treasury, and in tho interim get nothing for their labor, 
and are called upon to spend their own money and take 
many risks, you can Well understand that they do 
not propose to permit the sort of abuse that one of 
yonr papers, witboat investigation or hesiu-.ting, 
published; although to those who are postedit is too 
absurd and tidiouious to injure any one. It would 
seem as though the press of Ceylon should have the 
interest of the planters at heart, and not publish 
something that might bo copied by our enemies aud 
the opposing interests, and thus have it appear that 
the situation of this company in Ceylon is as out- 
lined in the “ Times of Ceylon.” Someone should make 
it plain to the journals of your island that our success 
has a very bad eSeefc upon those who have been 
unsuccessful, and it arouses their petty jealousies and 
they are very apt to write libellous untrue statements, 
especially as in the case of Mr. Arthur who has left 
the country and cannot be made amenable to the laws, 
I would also call your attention to the foot that 
when the promoters of this company have succeeded 
in raising the ^200, COO in cash they then receive 
for tbeir work, money espouded, etc., what may be 
left of this paper, and must then spend years to make 
it pay good dividends as well for themselves as for 
all the other stockholders, before they get a particle 
of remuneration. When the planters of Ceylon 
thoroughly understand this whole matter we feel that 
they will do everything they can le aid this great 
undertaking which, wnrAever occurs to the promoters 
aud workers hero, must uecesssnly benefit them. I 
have recently celled the attention of the Directors 
of this Company To the fact that our work here 
already has started up others in importing from 
London Ceylon Teas aud selling them here. It gives 
me great plassura to inform you that our plans are 
well received here end we are almost daily procuring 
new stockholders and good reliable selling agents. — 
I am, dear sir, yours very cordially, 
(Signed) S. Ellwood May. 
Tho H.on, J. J. Gfinliuton, m.l.c,, Colombo, Ceylon, 
~ 
SATURDAY’S MEETING HE CINNAMON 
CHIPS. 
Agreement Cancelled. 
'Tha meeting convened by Mr. Jardine for the pur- 
pose of considering whether the agreement entered 
into by cinnamon proprietors re cinnamon chips upon 
honour was to coutnuia in force er fo bo ctmcoiled 
