24 
THE  TROPICAL 
AGRICULTURIST. 
[July  i,  1S95. 
ad  vance  ; but  so  far  as  niy  nieiiiory  ser\  os  me 
do  not  tliink  tliat  tliis  bas  been  done,  at  a 
events  not  to  any  material  extent  — London  Cor 
THE  MAHAOUSA  TEA  COMPANY,  LTD. 
The  Direetors  beg  to  hand  you  herewith  a copy  of  the 
Crop  Aecount  and  Balance  Sheet  for  the  year  ending 
31st  December,  1804. 
The  Crop  amounted  t(»  148,287  lbs.  (an  increase  over 
1803  of  4,080  Ills.),  and  this  has  realised  e.'i,308  Os  7d  or  say 
an  average  of  over  8jd  (8.a0d)  per  lb. ; Id  more  than  last  year. 
The  expenditure  amounted  to  C3,ti.'i2  17s  Od  (the  exjiendi- 
ture  at  tlie  Kstates  being  ll4.i,844..54,  or  at  excliange  l.ljil 
= f2,()02  12s  8d  ) The  average  co.st  per  lb  was  therefore  .'I'Old. 
The  profit  on  the  year’s  wori*ing  amounted  to  £1,722  10s  id, 
and  this,  after  making  an  adjustment  on  account  of  previous 
year,  and  allowing  for  Managei'’s  Commission,  Interest,  etc., 
leaves  in  Profit  and  Loss  Account  a Balance  of  .gi,042  11  11 
Out  of  this  the  Directors  have  paid  a Dividend 
at  the  rate  of  10  per  cent,  per  annum  for  0 
months  . . . . 007  10  0 
This  leaves  for  distribution  ..  1,035  1 11 
.‘^nd  from  this  the  Directors  recommend  a final 
Dividend  at  the  rate  of  ten  per  cent  pei-  annum, 
absorbing  ...  (i07  10  0 
And  leaving  a balance  to  be  carried  for- 
ward of  ..  ..  427  11  11 
The  total  dividend  paid  for  the  year  will  thus  be  ten 
per  cent. 
Your  Directors  have  decided  to  build  a new  factory 
on  a site  at  the  bottom  of  the  estate,  where  water 
power  will  be  available  and  where  fuel  will  be  more 
easily  obtainable.  They  came  t • this  decision  with  some 
hesitation,  but  it  was  .strongly  recommended  by  Mr. 
Buchanan,  who  vi.sited  the  estate,  and  by  Mr.  Milne, 
the  visiting  agent.  This  arrangement  necessitates  the 
acquisition  of  a small  piece  of  land  for  the  new  factory 
site  and  also  permission  for  a waterway  through  a neigh- 
bouring estate,  and  as  soon  as  these  matters  are  settled 
the  new  factory  and  turbine  will  be  purchased. 
The  estimate  of  crop  for  1895  is  1.55,000  lb.,  and  the  e.stim- 
ated  expenditure  at  garden  is  R13,n27. 
Mr.  BuYANSis  the  retiring  Director,  and,  being  eligible, 
offers  himself  for  re-election. 
Mes.srs.  Woodm.in,  Tru.ocii  and  Kiios,  the  .\n. liters, 
also  retire,  and  offer  themselves  for  re-election. 
MKMO.  01'  ai:k.\. 
Under  Tea  Cultivation  ; 
A.  U.  I>. 
In  bearing 
407  1 35 
In  partial  bearing 
29  1 10 
• 
490  3 11 
Udder  timber 
13  0 24 
Ihiplanted  (including  Purest)  . . 
1(1(1  2 27 
113  3 11 
Total 
010  2 22 
THE  CEVLUN  AND  OIDKN'I'AL  KST.VTKS 
COMPANY,  LI.MITI'.D. 
KEI'OltT  OK  THK  DIliK.tTOlt.S. 
The  Directors  submit  herewith  the  Audited  Accounts 
for  the  past  year. 
Short  crops  were  the  rule  in  ('ey  Ion  during  ls94,  and 
the  Company’s  estates  may  be  said  to  have  done  w'ell 
in  giving  an  output  of  tea  only  4 per  cent  short  of  the 
estimates.  With  a better  market  for  all  grades,  the 
average  price  of  the  Company’s  tea  .sold  in  Lomlon  rose  to 
9TCd  per  lb.,  asagainst  8.41d  in  1893. 
As  will  be  seen  by  tbe  accounts,  there  has  been 
charged  to  capit.al,  in  respoct  of  new  buildings  and 
machinery,  the  sum  of  14,10(1  (is  lid.  This  expendilnre 
includes  the  extention  and  imniovements  of  t’actoiies  at 
Kogahawatte,  Denegaina,  Peradenia,  and  p.irt  of  rlie  cost 
of  the  new  Kactory  at  Keen.ikclle. 
Kenewals  ami  repairs  to  buildings  and  machinery  cost 
£691  Is  8d,  which  has  been  met  out  of  revenue,  aiid  the 
sum  of  £500  has  in  aililition  been  w ritten  off  for  lU  • 
jireciation. 
■Mr.  Tilling  visited  Ceylon  last  autumn,  and  returned 
well-pleased  with  the  wav  in  which  ,\lr.  Denison,  and  the 
Siiiierintendents  under  him,  have  managed  and  developed 
the  estates  since  his  previous  vi.sit  in  1892. 
An  agreement  has  been  entered  into  for  the  purcha.se 
of  Ooragalla  e.state,  a property  of  some  470  acres,  of 
which  300  acres  are  planted  with  tea.  This  place  adjoins 
Oodewelle,  and  having  no  factory  of  its  own,  the  tea  will 
be  manufactured  at  Oodewelle  as  .soon  as  the  building 
there  has  been  enlarged  and  the  neces.sary  machinery 
put  up. 
Deegalla  estate,  an  outlying  division  of  Nartupana,  has 
been  sold  for  £950,  as  its  distance  from  the  latter  phice 
made  it  expensive  to  this  Company  to  work. 
A third  instillment  of  debentures,  viz.,  35  bonds  of  £100 
each,  was  paid  off  on  the  31st  Miirch.  The  debenture 
debt  now  stiinds  at  £89,500. 
The  balance  at  credit  of  profit  and  lo.ss  .\ccount,  after 
aying  debenture  interest  iiiid  all  chiirges,  and  providing 
Tor  (lepreciiition  of  buildings  iind  machinery  (as  explained 
above)  is  £7,068  Is  lod,  wliicli  showsa  .satisfiiclory  return 
upon  the  capitiil  of  the  (Company.  The.  Directors  recom- 
mend that  tliis  balance  be  appropriated  as  follows  : — 
.£  .s.  d. 
To  reduction  of  Debenture  Issue  Expenses 
Account  ....  3,,542  8 2 
’J’o  p.iyinent  of  the  Preference  Dividend 
(less  Income  Tax)  - - - 983  16  9 
To  payment  of  an  Ordinary  Dividend  at  the 
rate  of  5 jier  cent  per  annum  (free  of 
income  t<ix)  - 2,703  4 0 
To  carry  forward  to  next  account  - 3’, 8 12  11 
The  retiring  Directors  are  Messrs.  Hugh  C.  Smith  and 
(diaries  .Arthur  Reiss,  who,  being  eligible,  offer  themselves 
for  re-election. 
The  Auditors,  Jlessrs.  Broads,  Paterson  & Co.,  are  ap- 
pointed by  the  trustees  for  the  Delientiire-holders,  bat 
are  eligible  for  election  by  the  shareholders. 
Schedule  ok  E.st.vtes. 
Name,  of  Estate. 
Bogahawatte  540 
Le  Vallon  and 
Rajatalawa  1210 
Denegama  (one- 
half)  1.55 
Peacock  Hill  300 
Keenakelle  (includ- 
ing Serendib  and 
Keenagashena  .500 
Peradenia  109 
Oodewelle  417 
Wilt.shire  and 
Hampshire  209 
Wangle  ( )ya  445 
Moraliova  and 
Wilton  184 
I'athragalla  100 
Narthupana  and 
Deegalla  183 
o 
o 
o 
o 
M.  it 
S 0) 
8sc 
9 
8 5 
120  — 100  40 
— — .55  — 
— 255  — 30 
3 
^ O' 
78 
2303 
(19 
192 
745 
702 
978 
.517 
122 
271 
200 
207 
3579 
224 
492 
1.505 
1171 
1395 
844 
.507 
455 
.585 
4.50 
4718  120  255  155  70  3 0504  11885 
YAlilOUS  IM.ANTINi;  NOTES. 
Tobacco. — The  outturn  of  this  staple  product  of 
the  Peninsula  is  considered  to  bo  above  the  average 
this  year.  The  loaves  are  now  being  cut  and  cured, 
aud  the  merchants  will  connueuce  their  purchases  by 
the  end  of  this  month.  Ijast  year  the  .Tallna  to 
bacco  fetched  the  highest  price  known  for  several 
years  both  here  as  well  as  in  Travancore.-  The 
price  of  a Candy  of  tobacco  of  the  best  sort  was  in 
.Jaffna  last  year  as  high  as  E‘250.  Ilut  owing  to  a 
good  crop  here,  and  the  large  stock  remaining  in 
Travancore  and  Cochin,  it  is  expected  that  the  same 
sort  will  not  fetch  this  year  even  P20O  per  Candy. 
— “Hindu  Organ.’’ 
Tf.a  ri,.\XTKi!s  IN  India  will  be  interested  to  learn 
that  Russia  threatens  to  hccome  a rival  in  tea  grow- 
ing. The  Agricultural  Society  of  Russia  has  re- 
cently t ik(  n up  the  question  of  tea  cultivation  in 
the  province  of  Ratoum,  aud  with  this  oliject  has 
instructed  Mr.  Khugen  to  jiurchase  large  jilots  of 
land  near  Chaika.  Jjast  summer  they  were  ex- 
amined liy  Mr.  Krasnow',  a I’rofcssor  of  Geography 
at  the  Kharkov  University,  who  said  in  his  report 
th.it  they  would,  if  cultivated,  compare  favourably 
with  the  tea  plantations  of  .Japan  and  Ceylon.  A 
pity  coiui  tirg  of  IMcfsrs.  Krarnov,  Jvhugen,  aid 
some  other  gentlemen  was  to  leave  ()dessa  ah.otit 
the  end  of  Fehruary  and  visit  tlie  chief  tea-pro- 
ducing centres  of  the  world,  including,  Darjiling, 
Ceylon,  China,  Canton  and  Japan. — Jladras  Standord, 
May  1st. 
