June i, 1891.] 
THE TROPICAL AGRICULTURIST, 
825 
year waa R20,758'48, of which R4, 842-78 were on 
account of the permanent product, and at Matale the 
total expenditure was R26,640'00 of that K14,490'43 
were on aooonnt of the permanent product. 
Balance Sheet op the Oeylon Tobacco Company, 
Limited. 
Made up to 31st December 1890, 
Capital and Liabilities. It c 
I, To Capital : — 
2,185 Shares, of which ITG fully paid up 47.b00 00 
Do 2 at K7U do ... UO 00 
Dj 1,58S at 50 do ... 79,400 00 
D> 66 at 20 do ... 1,120 00 
Da 63 at 10 do ... 630 00 
128,890 00 
II, To Debts due by the Company: — 
Balance dne to Superiuteudeut ... 1,884 90 
Auditor’s fee ... ... lOb 
1,981 90 
E130,874 90 
Property and Assets. It c. 
III. By Property Immovable: — 
Land Purchased as per last Beport ... 18,095 92 
Laud Purchased this year from Fritz 
Meyer ... •.* 47,600 00 
Notary’s Pees, Examlnaution of Title, 
and Inspection of Lands ... ... 2,675 36 
Proportion of Expenditure and Perma- 
nent Works on Matale and Ai.am- 
polla estates ■ . ... 19,333 21 
86,704 49 
IV. By Debts due to the Company 
Bandarapolla Clearing ... ... 605 CO 
Joseph Holloway Advances on Land 
Purchases ... ... ... 9,185 80 
Sundry Debtors ... ... 312 00 
9,982 60 
By Suspense Account 
Kantalai Fees and Extra Visitl' g 
By Value of Tobacco Seed Estimated 
V. By Cash in Chartered Mercantile Bank 
VII. By Profit and Loss : — 
Balance ... 
602 60 
300 00 
2,001 21 
32,283 90 
11130,874 08 
Profit and Loss as at 31st December 1890 
Dr. 1889 Dec. 31st. 
To" Balance brought forward 
1890 Doc. 31st. 
,, Expenditure on Matale Estate, less advances 
of 40/ recovered 
Expenditure on Arampolla Estate 
,, Auditor’s fee : 1889, 1152*50 ; and 1890, BlOO 
„ Preliminary E.xpenses ... 
„ Directors’ Expenses attending Meetings 
,, Stationery and Printing 
Postages and Petties 
• R. c. 
2,919 40 
12,100 57 
1.5,915 70 
152 50 
301 75 
675 00 
10’! 95 
265 18 
X ua Levy US aiiti X ••• 
Secretary’s Sal-rry, use of Oflioe & Office Expenses 1,001 96 
R33,4ol 01 
Cr, 1890 Dec. 
By' Profit on Tobacco Seed 
„ do on Pico 
„ Interest from Bank 
„ Sale of Cotton 
,, Recovery for Tools lost 
„ Transfer fees 
„ Balance 
1133,451 01 
Audited and found correct, John Guthiue. 
E. & O. E., Kandy, 2Sth March 1891 . A. Piiii.ii’, Secretary, 
In moving the adoption of the Report the Chaiu.man 
remarked that in oonsequeuce of the want of rain the 
tobauco orop baivested was not as large as was anti- 
cipated and the quality was disappointing hut the present 
prospoots of the company since its formation were satis- 
Lctory and exports consulted had with some quahtica- 
tiou reported favorably on the samples of tohacco leaf 
submitted, as would bo observed. Oeylon tohacoo had 
failed to realize the prioo of Sumatra tobacco. The 
R. c. 
329 68 
370 58 
455 35 
7 CO 
3 00 
1 60 
Directors are unable to fathom the reason of this but it 
should be remembered that Ceylon tobacco is a young 
product. It was possible that the system of manufac- 
ture in Ceylou might require some modificatiou. The 
Company however, being in possession of some very 
fine lauds have therefore decided to devote attention 
to forming valuable coconut aud caoao and tea estates. 
The Company’s interest in tea would be comparatively 
little in this re.-'pect differing from many of the other 
agricultural Oompauies. The Company would not be en- 
tirely deijeiidont out on tea, its interest in that product 
being no more than ^ or 1-5 in his opinion the Companny 
will iu course of a few years prove to be one of the best 
and soundest in the colony. The Cnmpauy owns some 
of the fine lots of land between Katugastota and Matale, 
land which is beginning to be more appreciated daily, 
aud the soil of wbich is of very valuable qu.jlity. The 
Company has a lot of cacao on Matale Estate 50 acres 
already planted. The land certainly was of very fine 
quality and should make a very valuable estate. 
The Directors felt some disappoiutment at the tobacco 
but ho had great hopes lor the Company and did not 
think that he was unduly sanguine in anticipating that 
the shareholders would ultimately receive good divi- 
dends; even if not successful in tobacco the Directors 
believed that they would make it successful in other 
products. Mr. Christie, Mr. Hill and Mr. Owen were 
leaving the Island Mr. T. 0. Owen retires by rotation 
but is eligible for reelectiou, hut they would wish rather 
to remain as Directors as otherwise Mr. Armstrong 
would bo left to act alone on the Board of Directors. 
The shareholders were not to suppose for a moment 
that the Directors were leaving a sicking ship owing 
to the coincidence of a temporary nbsenc®. 
Mr. Ar,EX.\NDER aud Mr. Boeron suggested that 
it might be convenient to put any questions before the 
adoption of tho Report. 
The Chairman having replied to Mr. Borron’s ques- 
tions, Mr. Hugh Fraser desired to explain his position 
and made some observations on sales of Ceylon Tobacco 
iu the Lindon market and on the prospect of tobacco 
growing in Ceylon. 
The Chairman yeplied at some length to Mr. Fraser’s 
remarks and those of other shareholders and having 
taken the sense of the shareholders on the matters 
submitted for consideration he put the Report to the 
meeting when it was unanimously adopted. 
A resolution proposed by Mr. Alexander Tait and 
seconded by Mr. D. Pairweather : — “ That the remu- 
neration for 1891 of R1,000 per annum bepaidtothe 
Directors,” was unanimously carried. 
It was propmied by Mr. A. G. Seton aud seconded 
by Mr. J. Alexander : — “ That the retiring Director 
Mr. X. C. Owen bo re-elected and that in view of 
the absence at home for sometime of some of the 
existing Board, Mr. Crawley-Boevey’s name be added ” 
aud this was also carried unanimously. 
Mr. J. Alexander proposed and Mr. A. G. Seton 
seconded : — “ That Mr. H. Drummond Deane’s name 
be added as a Director.” 
Mr. Seton rose to express the satisfaction he felt 
after having visited this morning the Estate.s of the 
Company at Matale and at Ukkuwell.-i, ho felt sure 
that erelong the shareholders should do uncommonly 
well iu possession of such properties. 
Mr. Alexander moved a vote of thanks to the 
Chairman of tho Board and to the other Directors, 
this was seconded by Mr. A. Tait, and was unanimously 
carried. 
This concluded the business of the Meeting. 
CIiNCuoNA in Brazil. — There is a cinchona plan- 
tation, it appears, at Theresopolis, in Brazil, 
which contains already over 20,000 trees. Analyses 
of the bark produced there are said to have shown 
an average equivalent of 1-92 per cent of quinine 
sulphate, Tho Brazilian Government have instructed 
Professor W. Miohler of tho Rio Polyteohnio 
School, to make a series of fresh analyses of the 
Brazilian bark and report upon the prospoots of the 
culture. — Chemist and Dnifigist, March 28, 
