June i, 1891.] THE TROPICAL AQRIOULTURlSTe 88r 
mined. The oompaoy’a properties with these recetr- 
purchiisf s consisi. if the following: — Tea planted, 6,30' 
acres ; tea prop jstd to be planted this yveu , 038 acres; 
coffee, 93 acres; jangle and ph.n ed timber, 1,693 acre;! 
patena and wa.ite land, 357 acres ; total 9,138 acres, 
it is gratifying to the directors to be able to inform 
the shareholders that the chairman’s visit to Ceylon 
has given them increased assurance, not only of the 
value of the company’s properties, but also of the 
thoroughly satisfactory manner in which the estates 
and business of the company are managed by the 
Ceylon manager and his staff. Under clause No. 69 
of the artioiea ot association, Mr. David Reid, of 7, 
Mincing Lane, retires on this occasion from the board, 
but, being eligible, offers himself for re-eleci ion. Mr. 
R H. Miller, of M ssrs. Harper Brothers, auditor, 
also retires fiom oliica, but oflers himself lor re- 
eleciion 
♦ 
HUNASGERIA TEA COMPANY JAMITED’ 
Ceylon.— II. 
Direotors : John Brown, Esq,, managing director ; 
Edward O mder, Esq. ; Henry Hart Potts, Esq. 
The following is trom the report presented to the 
meeting of bue Company on Wednesday last : — 
The following accounts are now presented to share- 
holders, Viz.; — Balance-sheet showing the tiiianciai 
position of the oompany on Deo 31, 1890; profit ami 
loss account for crop 1889-90. In the circular issued 
on Oct. 31, 1890, shareholders were mfurmed that the 
date for closing the crop year had been altered from 
June 30 to Deo. 31. Tne j,reBout protitandloss aceoua,, 
therefore, comprises the period ut eighteen mouths, 
from June 30, 1880, to Dec. 31, 1890. It will bo seen 
from tuiB aooouut chat the weiglit of tea sold during 
the time named amounted to 251,537 lb., the average 
selling price being lO.J. per lb., and the proceeds 
£10,372 5s. 2d. The crop of Cardamoms amounted to 
3,3721b., and realised £231 4s., or an average of 
Is 6d per lb. Cocoa, weighing 37 cwt. 1 qr. 20 lb., was 
sold for £195 19s 2d, the average price being 104s 01 
per cwt. The total receipts from sales ot produce thus 
amounied to £10,799 8s id. The total expenditure for 
the eighteen months in Ceylon and Loudon was 
£10,014 12s lid, which, dedneted from the value of pro- 
duce, leaves a profit on crop 1889-90 of £784 15s 6d. 
A debit balance was brought into profit and loss account, 
from the previous year, of £774 5s llil, and after 
writing off this sum from the above profit there 
remains a credit balance of £10 9a 6i to bo carried 
forward. Loukiug at the tea crop figures, the yield 
is aatisfaotory. The estimate in the directors’ 
last report for the year ending June 30tb, 1890, was 
150,000 lb, of tea, and the actual weight secured 
160,679 lb. This weight of tea was sold at an 
average price of 9Jd per lb., the result being that 
the twelve mouths’ working did not do much more 
than cover expenses. The crop the following six 
mouths, however, showed a material increase, the 
yield lor the half year being 100,948 lb., which sold 
at an average of nearly lOJd. per lb. It was during 
thi.s half-year that nearly the whole of the above 
profit was made. A considerably larger profit would 
have resulted from crop 1889-90 had it not been that 
during the last half of the paast year a sharp rise 
took place in silver, owing to speculation conse- 
quent on American legislation ; the rise in exchange, 
while it lastel, added about 20 per cent, to the 
cost of working the property. The price of silver has 
now relapsed to about its former value, and the 
directors have no anxiety as to exchange with 
regard to the present crop. Mr. Brown, the man- 
aging director, has recently visited the estate, and 
writes thac tho tea promises wull, and especially so 
when increased crops allow mauuring ojisrations 
to be more freely undertaken. Tho estimates for 
the current year, 1891, are tea 225,000 lb., cocoa 
30 nwt , and cardamoms 1.260 lb. Tho area of tea 
planted on the oompaiiy’s estate remains as 
follows : — Over 6 years old, 510 acres ; planted July- 
Oot., 1886, 80 acres; 1887, 124 acres; 1888, 40 
acres ; total under tea, 760 acres. Mr. H. H. Potts a 
member of the Board, retires from oflice on this occa- 
tion, and being eligible, offers himsell tor re-election. 
The directors have decided to lorego their fees for the 
past 18 months. 
At the meetiug of the Company on AV’ednosday Mr. 
E. Oouder presided, and, in moving the adoption of the 
report, stated that when the prospectus was issued the 
liquidator of tho old company took £18,600 in shares, 
so that tho public had applied for about 4,100 .shares, of 
which number one of the directors took one-third. The 
total area under cultivation was 730 acres, and by the 
addition of buddings and appliances they were now able 
to manufacture a Vci-y large quantity of tea. They 
had thought it wise to buy an engine and a boiler, as 
they couid not always d' pend on waterpower to drive 
the machinery. For the tirst time the balauce-sneet 
showed a profit, which would have beeu larger h;id it 
not been for the sharp rise that took place in .silver. 
For the year 1889-90 their produ chad been 150,679 1b. 
of tea ; but in the last half of tho la.sb year their im- 
provement was still better, and they went up to 100,. 
948 lb. They were also getting lOJd. a lb., as against 
94d in tlie former year. Mr. H. H. Potts Beooiuted 
ilie motion. In answer to questions, the Obairman 
■Said they did not w.iut to issiio debontures. The total 
cost of the engine and boiler would be about £300, 
which was proposed to bo paid out of tae levei ue 
far the yt ar. They had thought it better t « go in for 
quantity ratuer than qua.ity, and W'-re to present 
mating a profit at the rate of about £200 a m nth. 
Tin motion wa-i carried, and the re i ing duector 
anJa udit jr wore re-elected. —H. and C. Mail, April 24th. 

SALE OE ESTATE PROPERTY. 
Arslena estate, in Lower Dikoya, or Kelani Valley, 
has been purchased by Mr. C J. Backhouse of Dikoya 
from_ Mr. T. U. Anderson for £6,500 stg. The estate 
consists of 220 acres of tea in full bearing, and 30 
acres lately planted, with about 80 acres forest. 
A fully equipped factory is on the property, which 
yields loO.OOO lb. of tea per annum. So the price 
may be considered a bargain for the purchaser. 
A half share of St. Leys estate, in Dikoya, has been 
purchased by Mr. J. W. Holt, the proprietor of the 
other half, from Mr. T. U. Audorson for about £3,000 
stg. The estate consists of 130 acres tea in full 
bearing. 
^ 
TEA PROSPECTS AND “ WHAT TO DO 
WITH OUR BOYS ? ” 
“ Paterfamilias ” writes ; — 
“I have no less than Jive boys at school • 
now two of whom are just finishing and the question 
IS what should they do? It 1 could only have bought 
estates for them even a year ago I tuink a little 
would have gone a long way in giving them agood 
start in life. 1 fear tho time is rapidly passing away 
v/hen tea land can be bad cheap : we are fast getting 
to the real value of tea property in Dimbula. It is only 
beginning to dawn on people here, how very valuable 
an acre of tea laud is in a district where ten years’ 
purchase cannot he looked upon as too high ! It is 
really hardly ascertained yet by experience what the 
bast laud will yield ; the best soil held longest and in 
coffee and has but recently beeu planted in tea heiioe 
it is, at all events not generally known what the yield 
Will be on such places. I say nearer 609 lb. per acre 
ThOpanO lb . 
> 
“ WALKER, SONS & CO., LDIITED." 
It was to many in Ceylon a matter of regret that 
the old name of “John Wa.ker & Co.,’’ should 
have disappeared when the business so long asso- 
ciated with the name had to be formed into a 
