March  2, 
TIIR  TROPICAL  ACRICUI.TITRIST. 
613 
UVAKKU.ll':  TEA  ('OMl’ANV  oi' 
CEYLON,  LLMITED. 
Tlic  statutory  iiieoting  of  tlie  sharelioltlersof  this 
Coinpiuiy  was  lieh!  in  tlio  oHire  of  the  becrctaries 
and  Agents  (Messrs  J.  M.  llo)>ertson  N ( ()■), 
Prince  Street,  at  noon  ou  Feb.  '20.  Mi.  Henry  Hois 
presided,  and  ^'•’.'esent  were  Messi's.  A\  . D.  Cdhbon, 
W.  JJ.  Kingslmry,  Moir  (Secy.)  and  Vandcrspar, 
Surgeon-Major  Ihke  (by  his  attorney,  iMr.  M . 1>. 
King.shury),  and  Mrs.  Gibbon  and  Mr.  S.  E. 
Tench  (by  their  attorney,  -Mr.  M'.  D.  Gibbon.) 
The  notice  calling  the  uieeling  having  been 
read. 
The  CuAlRM.f,N'  subniiltcd 
THE  llEl’ORT. 
The  Directors  have  now  to  submit  their  First 
Auiiuiil  ittiporfc  Jiucl  Accoiiutu  for  tlio  yea<r  cuuiiig 
81st  December,  iSitn. 
The  yield  of  tea  during  this  period  has  been 
'.17,711  lb.;  the  cost  per  lb.  lias  been  2'J  81  cents; 
ami  the  average  net  price  obtained  51'8f  cents. 
The  coffee  crop  has  amounted  to  811'.)  22-8-2ud 
bush 'la ; the  net  sum  realised,  after  allowing  a 8:yio 
estimate  for  a smp«ll  lot  not  yet  sold,  being 
Rl.5.048-85.  _ . , , • 4 
The  expenses  in  connection  with  tnc  planting  ot 
tea,  new  caddies,  and  additions  to  factory^  ba\e 
been  passed  to  an  Extension  -\ccouiits  as  0.:pital 
Expenditure.  , , 
-'After  allowing  for  Depreci'.ition  ou  Jhiildiugs  and 
Machinei'y  10  percent,  and  l.j  per  cent.  1'e.spccti  veiy, 
and  writing  off  the  whole  of  the  I’rehminary  i-x- 
penses  111,110,  there  rom  iins  on  amount  of  il'2.7,7-22-01 
for  distribution. 
It  is  proposed  to  pay  out  of  tins  a (uvuiend  ot  10 
per  cent,  fnr  the  year,  which  will  absorb  1121, 000, 
leaving  111,722-(11  to  be  carried  forward  to  next  account. 
The”tea  crop  for  the  coming  season  ha.s  been  es- 
timated at  110,000  lb.,  and  the  eolfee  crop  at  ‘200 
bushels  parchment. 
The  Company’s  estate  now 
Tea  .0  years  old  and  upwards 
„ 8 years  old 
„ ‘2  ■ 
„ under  ‘2  yeai-s 
consists 
Acres.  ) 
;?00  ! 
00  ;- 
50 
50 
of 
.-iliout  70  to  80 
acres  inter- 
spersed ivith 
coffee. 
400  acres 
Forest,  Chena  and  Patna  101  ,, 
501  acres 
• In  terms  of  the  articles  of  Association  all  the 
Directors  retire,  but  being  eligiole,  offer  themselves 
for  re-election.  , 
It  will  he  necessary  to  apipoint  an  Auaitor  lor 
the  new  season. — H.  Hois,  M.  D.  Gibbon,  and  ^V. 
P>.  Kingsbmy. 
Colombo,  8th  February  1800. 
The  Chairman  said  the  report  ami  ac.couiit.s 
wliieh  had  been  printed  and  circulated,  he 
thomdit,  gave  all  the  information  tliat  would  be 
of  iutere^  to  the  shareholdor.s  ; but,  if  tlicrc 
wa.s  any  further  inforiuatioii  ilesircd,  be  should 
be  liap'py  to  furnish  it  if  it  was  in  bis  ])ower 
to  do  so.  The  certificate  of  incoi(ioratiou 
of  tlie  Gompauy  Wius  dated  tith  March, 
189"),  so  that  tlie  present  was  a statutory 
meeting  as  required  by  tlio  Ordiname.  1 he 
accounts  covered  a |ioriod  of  12  niontlis  ; 
but,  inasniucli  as  Hie  share  ca))ital  or  the 
bulk  of  the  sliare  cajiital  was  qaly  pai  1 on  ICtb 
March  189o,  tlie  revenue-earning  period  of  the 
accounts  was  only  94  moiiHis.  'I'lie  estimates 
for  the  coming  yenr  diil  not  iiidieatg  that  a 
very  large  dividend  would  be  earned  ; but  it  iiad 
to  be' remembered  that  the  (bmijiaiiy  was,  to  a 
certain  extent,  a development  Goiniiaiiy,  having  u 
considerable  acreage  of  tea  not  yet  in  bearing  ; 
and,  he  liad  no  doubt,  when  llie  whole  place  wa.s 
yielding  lull  erojis,  that  tlie  dividend  would  be 
satisfaetoi y to  tiie  sharelioklers.  As  regarded  the 
diviiiend  Iboy  now  jiroposed  to  ileclare,  lie  tliuuglil, 
after  writing  oil  preliiiunary  expenses,  and  consider- 
iii^  thdt  iho  01  kiiii^ pructictilly  only  (Mjvered  a i^eriod 
of  nine  mo*ith.s,  tlie  lesuit  was  tairly  scitisfactory. 
In  rcjdy  to  a ([ue.stion  by  Mr.  Vanderspar, 
the  Gli.'urm.aii  stated  that  the  Com].any  took  over 
tlie,  o.slate  from  1st  January  1895  and'  they  had 
to  pay  tlie  iuteiest  on  the  pureliase  money  until 
the  shares  were  paid  fur. 
IM 1 . \ -V A L)!-iv.si'-vu  : fii  that  case  don’t  we  "‘et 
the  beiielit  from  1st  January? 
Tile  Gh.Virman  ill  reply  to  Air.  A'ander,si*ar’s 
(iuesium  said  they  had  the  beiielit  of  the 
working  of  the  estate  from  1st  Jau.  ; but  per 
coiifi'u  they  hat!  to  pay  interest  oil  the  [lurchase 
money  from  that  date. 
Air.  Vandkrsi’AR  remarked  that  lie  thomdit 
the  Chairman  said  !).}  moiitbs. 
Tlie  Giia!I;.m.\x  The  earning  )ieriod  is  really 
9_,  moiii-hs  as  the  greater  part  of  the  earnings 
foi  two  and  a half  moiitii.s  from  Lst  January  i.s 
eounterbahuiced  h,y  the  interest  on  tlie  purchase 
money. 
■ Mr.  VANtiKitsPAR  seconded  the  adoption  of 
the  report. — Keport  adopted. 
1 he  ( ii.viiiMAX  said  the  next  biisines.s  w*a.s 
to  deelaiea  diviileiul.  liie  Directors  recommended 
a dixideiidof  Id  jier  cent  for  the  year. 
Air.  \ A.\UKi:si-AR  proposed  t!iat  ' a dividend 
oi  Id  jier  cent  he  declared. 
Surgeon- Major  I’jhii  seconded.— Kesohed  ac- 
cordingly. 
Afcwsi-.s.  H.  Eoi.s,  W.  D.  Giijbon  and 
,.Lmgsbury  were,  on  the  motion 
ot  Mr.  V ,\N DJtli.sRA!;,  seconded  by  Mr.  Tench 
nuaiiimon.sly  re-e!ecteil  Direetois.  ‘ ’ 
All.  \ ANDKli.SPAR  askeil  if  there  was  any 
reason  tor  the  shortage  in  the  estimate  of  the 
tea  crop.  He  had  worked  it  out  and  he  found 
that  the  dividend  next  year  could  not  pos.siblv 
be  more  than  S per  cent. 
The  Gh.urman  That  is  so. 
All.  \ ANOi'-R.si'AR Is  the  estate  suffering 
from  lielopeltis  ? 
1 he  Cii.viRMAX^ : — No.  The  tea  crop  i.s  ex- 
pected to  (amie  up  to  expectation,  but  the  es- 
timate for  coffee  i.s  only  200  bushels  as  against 
800  last  year.  It  is  due  to  tlie  collee.  Mr.  Gib- 
bon informed  him  that,  so  far,  the  yield  of  tea 
wa.s  satistactory  and  if  tlie  yield  continued  as  it 
liad  (lone  up  to  date  they  would  do  well.  The 
c.ollee,  (111  the  other  hand,  was  very  uncertain. 
On  the  imdion  of  Mr.  Vandersi-ar  .seconded 
by  Air.  Kixc.miuia',  .Mr.  Hercules  Scott  was 
appointed  auditor. 
Ibis  was  all  the  linsines.s. 
U II, 
a u '4  1 fj'j  i\n. 
/,■  Guiibiuerea  tne  report 
ot  the  (Tov.nmnent  Jlotamat  ami  Director  of  Go- 
veinmeiit  C incboiia  Pliiitations,  the  Government  ob- 
serve that  tne  fignre.s  funushed  by  that  officer  relat- 
ing  to  the  s.ile  of  quinine  powders  sufficiently  prove 
tbit  tlie  expedinent  of  the  distribution  of  'quinine 
packets  by  the  Postal  agency  in  the  five  districts 
ongmally  selected  has  been  on  the  whole  a success, 
ami  that  there  is  no  reason  why  the  introduction 
ot  the  system  into  other  districts  should  be  delayed 
any  longer.  .Hr.  Lawson  l,as  accordingly  been  re- 
quested to  arrange,  in  communication  with  the  Post- 
niaster-General,  for  the  supply  of  quinine  to  the 
))  stniasters  of  the  undeiirn'iitioned  districts  : Bel- 
taij,  Salem,  Anantapur.  Kistna,  Godavari  South 
( anara,  Gomibatoro,  North  Aycot,  TiLhinopolv,  Tin- 
neve  ly,  ianjore  Nilgiris,  Aladura.  NellorL  and 
bonth  Arcot. — Madras  ^:>tandard^  Feb.  8, 
