636 
THE  TROPICAL  AGRICULTURIST. 
[March  2,  1896. 
(--5%)  was  paid  as  an  Interim  Dividend  in  October, 
and  the  Directors  now  propose  to  pay  a final  Dividend 
of  4%  absorbing  K,11,20U  ; to  place  112,000  to  credit  of 
“ Extensions  Account,”  and  to  carry  forward  ll()54'12 
to  the  next  account. 
A wire  tramway,  rather  over  half  mile  in  length 
from  the  factory  to  the  end  of  the  estate  cartload, 
estimated  to  cost  lilO.OOO,  is  now  being  erected.  This 
is  a most  desirable  improvement,  as  transport,  both 
of  estate  produce  and  rice,  will  lie  greatly  facilitated 
and  cheapened,  besides  which  all  cooly  transport  will 
thereby  be  done  away  with — a great  consideration. 
During  1896  it  is  proposed  to  plant  82  acres  of 
land  with  Tea  and  27  acres  with  Cardamoms. 
The  crops  for  1896  are  estimated  as  follows;— 
140,0J0  lb.  Tea. 
12,000  lb.  Cardamoms. 
2.50  bu.shels  Coffee, 
on  an  expenditure  of  K IS.O.i.l'uO. 
Of  the  Directors  Mr.  \V.  H.  Figg  retires  by  rota- 
tion, but  is  eligible  for  re-election. 
An  Auditor  for  1896  will  have  to  be  appointed  at 
this  meeting. — By  order  of  the  Directors, 
CujiBEiuiATCii  & Co.,  Agents  & Secretaries. 
The  following  ai’e  the  minutes  of  the  meeting: — ■ 
Present  ; — Messrs.  H.  Cumberbatch  (chairman).  Direc- 
tors IMessrs.  A.  M.  V'aughan  Hughes  and  A.  M. 
Caldicott  Smith,  and  by  their  attorneys  Col.  E. 
Corse-Scott,  Messrs.  W.  Bowden  Hmith,  W.  S.  Bennett, 
A.  Fetherstonhaugh,  Col.  Langford  Brooke  and 
Major  MacNab. 
'The  notice  convening  the  meeting  was  read.  The 
■minute.s  of  the  last  meeting  of  the  Jird  June  189.") 
were  road  and  confirmed. 
The  Ch.ukm.in  said  that  there  were  only  two 
items  in  the  report  on  which  he  thought  he  need 
make  any  comment,  the  one  being  the  acreage  of 
the  estate  which,  since  the  report  was  printed,  had 
been  increased  by  a purchase  from  Government  of 
22  acres,  2 roods,  16  perches,  at  a cost  of  B309T4,  of 
' which  about  15  acres  were  forest  and  would  be  planted 
with  cardamoms  this  year,  and  being  conveniently 
situated  would  in  time  be  available  for  fuel  for 
the  Factory. 
The  other  item  was  the  amount  due  on  De- 
bentures which  the  Directors  had  thought  it 
prudent  to  show  at  the  rate  of  exchange 
ruling  at  the  time  the  properties  were  purchased  by 
the  Company  viz.,  f .5 ,000  at  Is  Od  :>1-:12  1192,5:!0'J2. 
Asa  matter  of  fact  tT).0(Hf  at  t!ie  exchange  of  the 
(lay  say  1,2  II  lOthf:  only  ic)ii esented  i;81.()72‘l:i. 
i’rnposcrl  b\  Mr.  C. \i,nuivn'-SMn’ii,  seconded  liy 
Mr  VAUiinAN-HuiiHEs  ; — “ That  the  report  of  the 
Directors  as  circulated  among  the  Shareholders  bo 
adopted.” — Carried. 
Broposed  by  Mr  Caldicott-Smitii,  seconded  by 
Mr  A.  M.  Vauohax-Hughes  : — ‘‘  That  a dividend  of 
four  per  cent  be  payable  forthwith,” — Carried. 
Proposed  by  Mr  A.  M.  Caldicott-Smitii,  seconded 
by  Mr  A.  M.  Vauoiian-Hughes : — “That  Mr  W.  H. 
Figg,  be  re-elected  a Director  of  the  Company.” — 
Carried. 
Proposed  by  Mr  A.  M.  C \ldicott-Smitii,  seconded 
by -Mr  A.  M.  Vaughan-Uugiies  : — “That  Mr  Hercules 
J.  Scott  be  appointed  Auditor  for  1896  at  the  ordi- 
nary fee.” — Carried. 
THE  LEPER  MASKELIVA  Ebi ALES 
COMPANY,  LIMITED. 
The  1th  annual  ordinary  general  meeting  of  the 
Shareholders  was  held  on  Feb.  29th  when  the  direc- 
tors report  was  submitted  as  follows: — Directors;  G 
AV.  Carlyon,Esq.,  by  C.  A.  Leechman,  Esq,,  and  AV.  D. 
Gibbon.  Esip  Estate  Inspector.— W.  D.  Gibbon,  Esq. 
Estate  Superintendent. — A.  E.  AVright,  Esq. 
ACKEAOE  or  KUUNSWICK  A KLOOMKIELD  ESTATES. 
Tea  in  full  bearing  llji  Acres. 
Grass,  Timber  Trees,  Ac.  72  ,, 
Total  . . 518  Acres. 
The  Direotois  have  pleasure  in  submitting  to  the 
Shareholders  the  Accounts  of  the  Company  for  the 
past  year. 
The  quantity  of  Tea  secured  in  the  year  was 
227,359  lb.,  being  7,359  lb.  in  excess  of  the  estimate, 
and  the  average  net  price  realized  was  about  48J 
cents  peiTb. 
After  making  the  usual  ample  provision  for  De- 
preciation of  Buildings  and  Machinery,  the  net 
profit  for  the  year  amounted  to  B41,145'84,  in  ad- 
dition to  which  a balance  of  1114,451’76  was  brought 
forward  from  1894,  making  a total  of  R55,597’60  avail- 
able for  Dividend  equal  to  over  20g  per  cent,  on  the 
Capital  of  the  Company. 
An  interim  Dividend  of  8 per  cent  was  declared  on 
the  3rd  August,  and  the  Directors  recommend  that  a 
final  Dividend  of  10  percent  be  declared,  making  18per 
cent  for  the  year.  The  sum  of  K6,997'60  will  then  re- 
maiiiTo  be  carried  forward  to  the  current  year's  account. 
The  estimate  of  tea  1896  is  223,000  lb.  on  an  ex- 
penditure of  R66,742’50,  and  the  estimated  profit 
from  other  sources  is  118,800.  In  addition  to  the 
above  expenditure  the  sura  of  111,500  is  allowed  in 
the  estimates  for  new  caddies  and  rice  store. 
ill  terms  of  the  articles  of  Association  Mr.  G.  AV, 
Carlyoii  now  retires  by  rotation  from  the  office  of 
Director,  but  being  eligible  offers  himself  for  re- 
election. 
Mr.  A.  E.  AVright  having  expressed  his  intention 
to  bo  absent  from  the  island  for  the  greater  part 
of  this  year,  the  management  of  the  Company’s 
estates  has  been  placed  in  the  hands  of  Mr.  L. 
A.  AVright. 
The  appoinlment  of  an  Auditor  for  1896  will  rest 
with  the  meeting. — By  order  of  the  Directors 
A\Tut'I'Ali,  a Co.,  Agents  and  .Secretaries. 
'The  report  and  accounts  were  adopted  and  a 
final  dividend  of  10  per  cent,  was  declared  making 
18  per  cent,  for  the  year. 
There  were  present  Messrs.  AV.  D.  Gibbon  (in  the 
Chair),  C.  A.  Leechman  and  G.  AV.  Carlyou,  Direc- 
tors: — Messrs.  L.  E.  Edwards,  G.  H.  Alston,  C.  >S. 
AAArren,  G.  C.  AValker,  and  C.  M.  Gwatkin. 
Messrs.  A.  Thompson  and  AV.  H.  G.  Duncan  were 
represented  by  Mr.  G.  AV.  Carlyou,  and  Mr.  Jas. 
Forbes  by  Mr.  G.  C.  AValker. 
THE  WE  OVA  TEA  COMPANY,  LIMPLED 
The  annual  ordinary  general  meeting  was  held 
on  h'cb.  29lh.  The  report  of  the  Directors  was  as 
follows  : — 
Directors;  AValtor  ■!.  Smith,  Esq.  ; Eric  S. -Ander- 
son. Ksq.  and  Chns.  AAiing,  Esq.  Estate  Inspector: 
— Charles  A'oung,  I'lsq.  I’lstate  Superintendent : — 
A.  Angus,  Esq. 
ACREAGE. 
Tea  planted  1858 — 1893  , . 381  acres 
• Do  1895  . . 16  „ 
Grass  . . . . 5 ,, 
Cultivated. . 
Forest 
Total  Estate 
. . 102  acres 
. . 623  acres 
The  Directors  have  pleasure  in  submitting  to  the 
Shareholders  the  Accounts  of  the  Company  for  the 
j.’ast  year. 
The  crop  (including  about  25U  lb.  from  purchased 
leaf)  amouuted  to  195,191  lb.  Tea,  being  25,491  lb. 
in  excess  of  the  estimate  and  49,787  lb.  more  than 
the  yield  in  1891. 
The  net  average  price  realized  for  the  Tea  was 
about  41  cents  per  lb.  against  a cost  laid  down  in 
Colombo  of  a little  over  21  cents  per  Ih. 
The  net  profit  for  the  year,  including  a balance 
of  R3,215'25  from  1894  but  excluding  pre- 
mium on  new  Shares,  amounted  to  R36.(X)1-61. 
equal  to  over  27i  per  cent,  on  the  paid  up  Capital 
of  the  Company.  An  interim  Dividend  of  U)  per 
cent . was  declared  on  the  3rd  August  last  absorbing 
R13,000,  and  the  Diiectors  recommend  a final  divi- 
dend of  15  per  cent.,  making  25  per  cent,  for  the 
year,  and  that  after  payment  of  1U,(.)00  extra  foes 
to  the  Directors,  in  terms  of  the  Resolution  passed 
on  18th  February  1893,  R2,501’61  be  carried  forward 
to  the  current  year':!  account. 
