Feb.  I,  1896.1 
THK  TROPICAT.  AGRICULTURIST. 
563 
Tf.a.— Thfi  yeai-  ISO.',  opmiod  with  rather  hi"h  prices 
(or  common  teas,  an  l moderate  rates  for  mi'diiim 
and  line.  This  position  was  about  maintainod  101 
the  first  few  months,  but  subsequently,  as  supplies 
increased,  a lower  raii^e  was  established  until  July, 
when,  owing  to  better  teas  coining  forward,  and  some 
recovery  in  the  value  of  medium  and  line,  the 
monthly  average  again  commenced  to  rise.  On  the 
whole  the  cpiality  of  the  crop  has  been  a fair  average 
oue,  and,  as  showing  the  increase  in  the  trade,  it  is 
interesting  to  note  that  about  950,00!)  packages  passed 
the  hammer  in  the  public  sale  rooms  during  the 
last  T2  mouths,  bringing  in  an  average  price  for 
the  whole  of  Sid.  per  lb.  or  the  same  as  was  obtained 
for  876,300  packages  in  1894,  and  comparing  with 
9Jd  lb.  for  834,000  packages  in  1893,  while  the 
London  Bonded  Stock  on  December  31st  was 
about  oil  a par  with  that  of  1891,  so  that  the  111- 
crease  of  nearly  (>  million  lb.  has  been  practically 
absorbed.  The  export  trade  from  London  to  the 
Continents  of  Europe  and,  America  is  a growing  one, 
and  your  Directors  are  pleased  to  be  able  to  staic 
that  orders  from  buyers  abroad  now  have  consider- 
able influeuce  on  the  prices  obtained  in  public  sale 
for  the  classes  of  tea  deemed  suitable  for  tlieir  require- 
ments. The  total  exported  from  London  from 
January  1st  to  November  30th  in  the  past  three 
point  nut  that  tlie  redemption  of  this  mortgage  in- 
ci-eases  substantially  the  value  of  tlie  Debenture 
holdeis’  security. 
Your  Directors  wish  to  place  on  record  their 
appreciation  of  the  services  so  far  rendered  to  the 
Company  by  the  Chairman  and  Managing  Director. 
THE  UDUGAMA  TEA  AND  TIMBER 
COMPANY,  LIMITED. 
The  annual  general  meeting  of  this  Company 
was  held  at  tlie  Company’s  ollices,  20,  Baillie 
.Street,  Colombo,  at  12  noon  on  Jany.  28. 
Present  ;—Me.ssrs.  Clias.  P.  liuyley  (Chairman) ; 
H.  Creasy  and  J.  N.  Cam|»bell,  Directors.  Messrs. 
II.  Cnwin,  E.  Benliam,  C.  J.  C.  Conran,  by  his 
attorney  Clias.  P.  llayley  ; L.  M.  Torin,  by  his 
attorney  .1.  N.  Cam|>bell  : and  .1.  McCillivray 
reijrcsenling  the  secretaries. 
Tlie  minutes  of  the  last  general  meeting  having 
been  read  and  conlirmed,  Mr.  Unwin,  attorney 
for  Rev.  W.  E.  Rowlands,  moved  the  adoption 
of  the  report,  w liicli  was  seconded  by  Mr.  E. 
Benham. 
year.s  is  : — 
lspr> 
6,535,211  lb.  1.795,312  lb.  3,711,751  lb. 
Coco.\.— The  market  for  this  article  has  been  dis- 
appointing. and  prices  have  been  lower  than  those 
of  1894.  The  position  now  looks  more  hopeful,  al- 
thougli  your  Directors  canuot  at  present  look  for  a 
renewal  of  the  record  prices  of  past  years. 
Coffee. -The  prices  obtained  during  the  year  have 
been  satisfactory,  but  inferior  to  those  of  1894.  Tlie 
highest  price  paid  during  the  year  for  Cf,'/d«'  Liberian, 
viz.  90/6,' was  obtained  for  a parcel  from  North  Matide 
Estate.  According  to  news  from  the  producing 
countries  a lower  range  of  values  must  he  looked 
for  in  1896. 
The  following  Statement  nhow^  the  acreage  nj  the 
('oinpan/i’s  Pro/terties  at  date  : — 
Name  of 
Ten 
Cocoa, 
Coffee  A 
Forest, 
Grass, 
Estate. 
Coco- 
Chan  a, 
Alloowiharie 
. 107 
nuts. 
410 
(Vfc. 
15J 
Aiidangodde 
. 1202 
— 
55i 
Petteresso 
. 405 
— 
33 
New  Peradeniya. 
, . 3864 
17i 
54i 
North  Matale 
. 226 
822 
4.59 
Owella 
. . 27 
74i 
77a 
Rickerton 
. . 500 
— 
96 
Strathisla 
. . 
229* 
. HU 
Forest 
, . 
— 
4.30 
1.8421 
1,553J 
1,470 
Total 
Acre- 
age. 
670 
176 
438 
45SJ 
1,577 
179 
596 
311 
430 
4.865i 
At  the  request  of  the  Board,  and  some  of  the  largest 
shareholders,  your  Chairman  and  Managing  Director, 
Mr.  James  Wilson,  left  this  country  on  a visit  to  Ceylon 
in  Jan  last  year.  He  has  visited  each  estate  several 
times,  and,  speaking  generally,  lound  the  Company’s 
properties  doing  well.  He  reports  that  he  is  especially 
pleased  with  Strathisla,  and  that  Tea  bids  fair 
to  be  a success  where  planted,  both  on  Strathisla 
and  Owella. 
LITIGATION  WITH  FOIVMEK  AGENTS. 
Y^our  Directors  have  been  obliged  to  embark  upon 
litigation  with  their  late  Ceylon  agents,  and  at  the 
moment  proceedings  are  in  an  advanced  stage. 
The  crop  prospects  for  season  1895-96  are,  so  far 
favourable,  the  estimates  of  tea  being  in  excess  of 
last  year’s  intake.  , , , 
Your  Directors  beg  to  report  that  they  have  amply 
provided  for  any  possible  reduction  of  the  bock  values 
of  the  Company’s  properties  in  Ceylon,  over  t’20,000 
having  been  set  aside  from  Revenue  for  this  purpose 
during  the  past  six  years. 
The  nioiigage  over  the  North  Matale,  etc.,  Lstates, 
which  originally  stood  at  £15,000,  has  been  cancelled, 
and  the  relative  deeds  are  now  in  th  e Company  s 
possession  ; your  Directors,  therefore,  wish  to  aga  m 
Ylr.  Unwin  prciposod  .‘unl  Mr.  Benhfun  eeoiuled 
Mr.  I’reasy’s  re-oleclion  ns  n Director  in  place 
of  Mr.  11.  Creasy  resigned. 
Auflitor.^lt  was  proiiosed  Uy  Mr.  Clias.  P. 
llayley,  ami  seeoutletl  by  Mr.  E.  Benham,  that 
Mr!  Hercules  J.  Scott  be  appointed  auditor  for 
the  current  year. 
The  Chairman  and  managing  Director,  Mr. 
Clias.  P.  Hayley,  stated  that  notwithstanding  ilie 
loss  incuired  during  the  past  yeai'  lie  had  e\  ery 
hope  that  the  Company  will  pay  this  year. 
COCONUT  LAND  IN  THE  KURUNECALA 
DISTRICT. 
“ Welikela,”  the  coconut  land  of  the  late  David 
Perera,  who  planted  it  on  the  “ lease  system”  which 
was  generally  condemned  in  a series  of  letters  written 
to  the  Observer  some  years  ago,  was  put  up  for  sale 
on  Saturday  last,  when  the  highest  bid  obtained  was 
E21,000  for  a block  of  67  acres.  There  were  various 
causes  which  led  to  this.  Firstly,  half-improved 
value  has  not  yet  been  paid  for  the  entire  land  which 
is  about  95  acres.  Secondly,  the  grant  is  not  forth- 
coming. Thirdly,  the  land  is  under  mortgage  to  a 
man  in  Kand}',  and  David  Perera  the  planter  and 
mortgagee  who  has  since  died,  by  nis  last  will 
has  provided  that  the  mortgagee  should  have  the 
refusal  of  the  purchase.  All  thees  conspired  agai  1st 
the  sale  taking  place,  and  the  land  had  corsequently 
to  be  bought.  There  is  the  lesson,  however,  learnt 
that  whereas  the  official  assessor,  the  Raiemahat- 
maya  of  the  district  valued  the  land  at  1175  per 
acre,  a slight  show  of  competition  has  proved  that 
this  is  quite  wrong,  and  raises  tlie  value  to  R260 
per  acre.  Coconut  land  in  this  District  is  becoming 
more  and  more  valuable  and  is  attarcting  the  atten- 
tion of  capitalists.  Mr.  Henry  Daniels,  the  Superin- 
tendent of  Minor  Roads,  Colombo,  was  up  here  some 
time  ago  to  value  Kohana  estate,  1,0(X)  acres  of 
coconut ; not  for  sale  but  to  settle  some  dispute 
between  tlie  owmers,  de  Silva  brothers  of  Moratuwa. 
Mr.  W.  H.  AVright  came  on  a commission  to  value  a 
laud  of  de  Mels,  on  the  Dambulla  Road  near  the 
Dednruoya.  It  is  close  upon  a hundred  acres  in  extent, 
and  De  Mels  waut  11600  per  acre.  In  the  direction  of 
Wellowa  6 miles  from  Kuril,  on  the  road  to  Trinco. 
extensive  coconut  plantations  are  coming  up.  In  a 
few  more  years  theie  will  be  hardly  any  laud  avai- 
lable for  planting,  within  a radius'  of  twelve  miles 
from  the  town.  European  capitalists  are  reconnoitr- 
ing the  country  and  with  the  examples  set  by 
Messrs.  Finlay,  Muir  & Co.,  Melville  White  and 
others,  we  shall  sooner  or  later  have  a colony  of 
Europeans  among  our  coconut  growers, — Cor, 
