March  2,  1896.]  THE  TROPICAL  AGRICULTURIST. 
63s 
an  ample  supply,  tliere  bein<4' nearly  1,2UU  coolies, 
with  advances  outstanding,  averaging  less  than 
R-t  per  head.  The  crop  of  18'Jo  was  S23  Ih.  per 
acre,  against  698  Ih.  in  1894  ; the  rainfall  : 142 i 
inches,  against  145  average  for  5 years,  and  35 
inches  more  than  in  1894.  All  lields  showed  in- 
creased returns  e.xcept  2 not  pruned  in  1894.  The 
estimate  for  1896  was  768  Ih.  per  acre.  He  hog- 
ged to  second  the  adoption  of  the  report. 
Two  or  three  shareholders  thereupon  expressed 
their  desire  that  a smaller  sum  should  he  placed 
to  reserve,  and  5 percent,  more  he  divided,  carrying 
forward  a smaller  halance ; hut  the  Directors 
having  stated  that  they  could  not  consent  to  this 
without  giving  other  proprietors  tl)e  oi)portunity 
of  expressing  an  opinion,  agreeing  or  otherwise, 
with  the  deliberate  recommendation  of  the  Board, 
the  proposal  was  not  pressed,  and  the  motion  that 
the  report  and  accounts  be  adopted  M'as  carried 
neiii.  con. 
Mr.  J.  Marten  then  moved,  and  Mr.  J. 
R.  FAlRWliATiiER  seconded,  “ that  a divi- 
dend of  R12-40  per  share  for  the  half-year 
ended  31st  December  1895,  making  (with 
the  interim  div  idend  of  R12'.50  per  share  paid  in 
August  1895)  25  percent,  for  the  year  1895  and 
a bonus  of  R2U  per  share,  or  2(J  per  cent,  for  the 
year  1895,  be  declared  and  made  payable  on  the 
29th  February  1896. — Carried  unanimously. 
Mr.  Gordon  Pyi'ER  moved,  and  Mr.  J A. 
Martin  seconded,  “that  Mr.  David  Fairweather  he 
re-elected  a Director,”  which  was  agreed  to. 
Mr.  J.  A.  Martin  moved,  and  Mr.  C.  M. 
Gwatkin  seconded,  “ that  Mr.  John  Guthrie  he 
re-elected  auditor  at  a fee  of  RlOO  per  annum.” 
Mr.  J.  A.  Martin  proposed,  and  Mr.  Gordon 
J’VPER  seconded,  a vote  of  thanks  to  the  Director 
and  the  Superintendent  of  the  Estate  for  their 
services  and  with  the  usual  vote  of  thanks  to  the 
Chairman  flic  jiroccedings  tcrminatc<l. 
THE  AATIVANTOTA  TEA  CUMFANV, 
LIMITED. 
The  eleveiitli  annual  ordinary  general  meeting  of 
Shareholders,  was  held  on  Feb.  ‘29tb,  when  the  following 
report  was  submitted: — Directors  : W.  D.  Gibbon,  Es(]., 
Eric  S.  Anderson,  Esep,  Chas.  Young,  Esq.,  G.  W.  Car- 
lyon,  Esq  Estate  Inspector.— Chas.  ATouug,  Esq. 
Estate  Superintendents. — Messrs.  ‘W’.  R.  G.  Hickey  and 
A.  Angus. 
ACREAGE, 
Old  PoL.vrAGAM.v. 
Tea  in  bearing  . . 517  acres. 
Tea  not  in  bearing  . . 148  ,, 
Forest  ..  oo8  ,, 
1,003  acres, 
River  Reserves  39  acres. 
Grand  Total..  1,4SC  ,, 
New  Pol.atagama. 
Tea  and  Coconuts  not  in  bearing  . . 2,35  acres. 
Forest  . . ■ . • ■ 212  „ 
117  acres. 
The  Director's  have  pleasure  in  submitting  to  the 
Shareholders  the  Accounts  of  the  Company  for  the 
past  year. 
The  crop  secured  amounted  to  '310.010  lb.  Tea, 
being  35,010  lb.  over  the  Estimate  and  46,479  lb.  more 
than  the  yield  in  1894.  The  net  average  sale  price 
was  42J  cents  per  lb.,  whilst  the  cost  laid  down  in 
Colombo  was  21  cents  per  lb.  The  net  profit  for  the 
year,  including  a balance  of  R431'08  from  1891 
amounted  to  R61,024-42,  equal  to  61  per  cent  on  the 
Capital  of  the  Company.  An  Interim  Dividend  of 
10  per  cent  was  declared  on  3rd  August  last,  and  the 
Directors  recommend  a final  dividend  of  10  per  cent 
making  a total  of  50  per  cent  for  the  year,  and  that 
after  j)ajment  of  R3,000  e.xtra  fees  to  the  Directors 
in  terms  of  the  resolution  passed  in  1893,  and  a 
transfer  of  R1.750  to  Special  Reserve  Fund,  the 
balance  of  R6,274'42  bo  carried  forward  to  the  current 
year’s  Accounts. 
The  sum  of  R2,325'55  transteri'ed  to  Special  Reserve 
Fund  last  year  has  been  written  off,  the  debt  being 
now  deemed  irrecoverable. 
During  the  year  River  Reserves  to  the  extent  of 
acres  38-3-21  were  purchased  at  upset  price  from  Gov- 
ernment. 
To  provide  for  repayment  of  Debentures  which 
become  payable  on  1st  January,  1897,  and  other 
debts  of  the  Company,  it  will  be  necessary  to  in- 
crease the  Capital  or  to  reconstruct  the  Com- 
pany before  the  end  of  this  year,  and  a scheme 
will  be  laid  before  the  Shareholders  in  due  course. 
The  Estimated  crop  from  Old  Polatagama  for  1896 
is  310,000  lb.  Tea  on  an  estimated  outlay  on  Working 
Account  of  R65,950.  In  addition  to  this  expenditure 
it  is  estimated  that  the  sum  of  R13,000  will  be  spent 
on  Capital  Account  for  a new  clearing  of  22  acres 
tea,  additions  to  buildings,  upkeep  of  young  tea, 
planting  coconuts,  &c.  The  Directors  have  still  under 
consideration  the  question  of  water  supply  to  the 
Factory  ; but  the  estimates  so  far  obtained  have 
been  considered  too  high  to  allow  of  the  work  being 
taken  in  hand  at  present.  The  expenditure  on  New 
Polatagama  is  estimated  at  R13,600,  against  which 
it  is  expected  that  25,OUO  lb.  Tea  will  be  secured. 
In  terms  of  the  Articles  of  Association,  Mr.  W.  D. 
Gibbon  now  retires  by  rotation,  but  is  eligible  for 
re-election.  * 
The  appointment  of  an  Auditor  for  the  current 
year  will  rest  with  the  Meeting. 
By  order  of  the  Directors,  Whittall  cfe  Co., 
Agents  and  Secretaries. 
The  report  and  accounts  were  adopted  .and  a final 
dividend  of  10  per  cent  was  declared  making  50 
per  cent  for  tlio  ye.ar.  There  were  present  : — Messrs. 
Chas.  Young,  (in  tho  chair),  G.  W.  Carlyon,  W.  D, 
Gibbon,  Directors  ; .\.  Thomson  and  W.  If.  G.  Dun- 
can repi'osented  by  G.W.  Carlyon.  and  A.  ft. Wvigbt 
Ivy  W.  1 >.  Giblvon. 
THE  TONACUMBE  ESTATES  COMPANY  OF 
CEYLON,  LTD. 
'Die  following  is  the  report  of  tlic  Directors 
presouted  to  the  secoml  ordinary  general  meet- 
ing of  shareholders  of  tlie  above  Company  held 
on  Feb.  2Sth  : — 
ACREAGE. 
The  Acreage  of  the  Company’s  properties  is  as 
follows  : — Acre-. 
Tea  in  bearing  . . . . ,}57 
Tea  seed  bearers  . . . . 6 
Tea  not  in  be.aring  . . . . 155 
Total  Tea  ..  518 
Cleared  for  planting  in  April  . . 22 
Cardamoms  in  bearing  65  acres. 
Do  not  in  bearing  18  „ 
— S3 
Coffee  . . ^ , on 
Forest  and  fuel  plantation  . . 3*2 
Cheua  and  Patna  . . . . 926 
Grand  Total  ..  1,636 
During  the  nine  months  under  review  the  total 
quantity  of  ’Tea  secured  was  98,521  lb.,  which  have 
been  sold  at  an  average  of  55'34  cents  net. 
The  total  Cardamoms  pickei  amount  to  9,525  lb., 
of  which  3,377  lb.  have  been  sold  at  an  average  of 
Rl'67  per  lb.  The  balance  is  estimated  in  the 
accounts  to  realise  R1'50  per  lb. 
319j5  Bushels  of  Coft'ee  nave  been  harvested  and 
realised  R5,234'38,  or  R16'36  per  bushel. 
The  total  expenditure  amounts  to  R36, 700-55. 
The  balance  available  after  providing  for  Depre- 
ciation anionata  to  ,E27,65:il2,  of  which  Ell, 000 
