March  2,  1896.]  THE  TROPICAL  AGRICULTaRIST. 
637 
On  the  1st  January,  1895,  250  shares  of  RIOO  each 
were  issued  at  a premium  of  1150  per  share.  This 
premium,  amounting  to  1112,500,  has  been  credited  to 
Profit  and  Loss  Account  ; but  the  Directors  propose 
that  the  amount  should  be  transferred  to  ‘‘  Depre- 
ciation Account  ” to  provide  for  depreciation  of 
Buildings  and  Machinery. 
The  new  Factory  referred  to  in  last  year’s  lieport 
was,  with  the  exception  of  some  additions  allowed  for 
in  this  year’s  estimates,  completed  during  the  yeav, 
and  the  manufacture  of  Tea  was  commenced  in  it 
at  the  end  of  November.  The  cost  has  very  consider- 
ably exceeded  the  Engineer’s  estimate,  but  the  work 
has  been  most  successfully  carried  out  and  the 
Factory  is  admirably  suited  for  the  preset  and  future 
requirements  of  the  Estate. 
'ihe  Directors  propose  during  this  year  to  issue 
the  unpaid  balance  of  Capital  (1120.00(0  and  to  offer 
the  shares,  in  terms  of  Article  No.  7 of  Association, 
at  a premium  to  be  fixed  later  on,  due  notice  of 
which  will  be  given  to  Shareholders. 
The  crop  in  1896  is  estimated  at  210,0001b.  Tea 
on  an  expenditure  of  1115,150  on  Working  Account. 
The  estimated  expenditure  on  Capital  Account  for 
the  coirpletion  of  the  Factory  and  for  upkeep  of 
young  clearings  is  115,1G7'72. 
In  terms  of  the  Aiticles  of  Association  Mr.  Walter 
J.  Smith  retires  by  rotation  from  the  office  of  Di- 
rector, but  is  eligible  for  re-election.  Mr.  A.  Thom- 
son, who  was  elected  a Director  at  the  last  Annual 
Meeting,  resigned  his  seat  on  the  Board  when 
leaving  for  England. 
The  appointment  of  an  Auditor  for  the  current 
season  will  rest  with  the  meeting. 
By  order  of  the  Directors, 
Whittall  & Co.,  Agents  and  Secretaries. 
Colombo,  Feb.  1st. 
The  Report  and  accounts  were  adopted  and  a 
final  dividend  of  15  per  cent  was  declared  making 
25  per  cent  for  the  year.  There  were  present  Messrs. 
Chas.  Young,  in  the  Chair  ; and  W.  Smith,  Directors  ; 
G.  W.  Carlyon,  G H.  Alston,  E.  Young  repre 
sented  by  C.  Young  and  A.  Thomasz,  by 
G.  W.  Carlyon,  Major  G.  L.  Gwatkin  by  W. 
D.  Gibbon  and  W.  D.  Gibbon. 
THK  AGKA  OUVAH  ESTATES  CO.,  LTD. 
The  annual  ordinary  general  meeting  was  held  on 
Feb.  29th.  when  the  following  report  was  submitted  ; — 
Dihectohs  : — W H Figg.  Esq.,  C A Lecohman, 
Esq.,  A Stevenson,  Esq.,  G W Carlyon,  Esq.  Es- 
tate Inspector — Chas  Young,  Esq.  Estate  Superin- 
tendent— R K Clark,  Esq. 
■ ACREAGE : — 
Agra  Ouvah. 
Tea  in  full  bearing  . . , . 172  acres 
,,  in  partial  bearing  . . 28  ,, 
,,  not  in  bearing  ..  ..  102  ,, 
Coffee  amongst  Tea  (102  acres) 
Grass  and  jungle  . . . . 29  ,, 
Total  Estate 
Franker  ton. 
Tea  in  full  bearing  . . . , 
,,  in  partinl  bearing., 
,,  not  in  bearing 
Coffee  amongst  tea  (61  acres) 
Grass,  patana  and  scrub 
381  acres 
87 
17 
61 
acres 
n 
23 
JJ 
Total  Estate  193  acres 
Grand  Total  524  acres. 
The  Directors  have  pleasure  in  presenting  to  the 
shareholders,  the  accounts  of  the  Company  for  the 
past  year. 
The  crops  secured  were  191,685  lb.  tea,  or  31,685  lb. 
over  the  estimate,  and  1,291  bushels,  parchment  and 
13  cwt.  clean  coffee,  against  an  estimate  of  1,000  bus- 
hels parchment. 
The  average  net  prices  realised  for  this  produce 
were  66i  cents  per  lb.  and  R17'85  per  bushel  respec- 
tively ; the  prices  in  the  previous  year  being  68i  cents 
and  R18'20. 
After  makieg  the  usual  provision  for  deprecia- 
tion Qi  buUdiup  »ud  machinery,  the  net  proht 
for  tho  year,  exclusive  of  R5,382'45  brought  forward 
from  1894,  amounted  to  R83,556'65,  or  about 
22)  per  cent  on  the  Capital  of  the  Company.  An 
interim  Dividend  of  8 per  cent  was  declared  on  the 
3rd  August  last,  and  the  Directors  now  recom- 
mend the  payment  of  a final  Dividend  of  12  per 
cent.,  making  20  per  cent  for  the  year,  and  that 
R7,500  be  transferred  to  tho  Extension  Fund.  This 
will  leave  a balance  of  116,439  10  to  be  carried 
forward  to  the  current  season’s  account. 
The  estimates  for  this  year  are  200,000  lb.  of 
tea  and  400  bushels  of  coffee,  on  an  expenditure  of 
R80, 186-24,  which  sum  includes  the  cost  of  manu- 
facturing 200,000  lb.  of  tea  for  neighbouring  pro- 
prietors. The  income  from  this  source  and  from 
rents  is  estimated  at  1125,200. 
The  expenditure  on  capital  account,  chiefly  to  meet 
the  increased  requirements  of  the  Factory,  is  esti- 
mated at  R13,500,  towards  which  outlay  the  above 
mentioned  sum  of  R7,500  will  be  available.  The 
Directors  recognize  the  uncertain  nature  of  income 
from  manufacturing  “ outside  ” leaf,  but  they  con- 
sider that  additional  accommodation  in  the  factory  is 
in  any  case  necessary,  in  view  of  the  increasing  yield 
of  the  Company’s  own  estates. 
In  terms  of  the  Articles  of  Association,  Mr.  W.  H. 
Figg  retires  in  rotation  from  the  office  of  Director, 
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,  A Co  , Agents 
and  Secretaries. 
The  report  and  accounts  were  adopted  and  a final 
dividend  of  12  per  cent  was  declared  making  20 
per  cent  for  the  year.  There  weae  present  ; — Messrs. 
C.  A.  Leechman  (in  the  Chair),  G.  W.  Carlyon,  A. 
Stevenson,  Directors,  G.  IT.  Alston,  E.  John,  C,  J. 
Donald.  Mr.  A.  E.  Wright  was  represented  by  Mr. 
W.  D.  Gibbon,  and  Mr.  H.  Tarrant  by  Mr.  C.  A. 
Leechman. 
The  first  ordinary  general  meeting  of  the  Ruan- 
wella  Tea  Company,  Limited,  will  be  held  on  Satur- 
day. March  14  to  receive  the  report  of  the  Directors 
and  accounts  for  the  past  year.  The  first  ordinary 
general  meeting  of  the  Kirklees  Estate  Company, 
Limited,  will  be  held  on  Saturday,  March  14,  to  re- 
ceive the  report  of  the  Directors  and  accounts  for 
the  past  year  and  to  declare  a dividend.  An  extra- 
ordinary general  meeting  of  the  Kandyan  Hills  Com- 
pany. Limited,  will  be  held  on  the  7th  March  to 
pas.s  the  following  special  resolution -Tliat  the 
Directors  be  authorized  fo  grant  a mortgage  to 
Messrs.  R.  A.  Bosar.quet,  G.  P.  Traill  and  J.  D. 
Balfour,  over  the  Pansalatenne  estate,  to  secure  the 
payment  of  the  sum  of  T4,.500  sterling  (being  the 
balance  purchase  money  for  the  estate)  on  or  before 
December  31,  1898,  and  until  payment  to  pay  inter- 
est thereon  or  on  any  balance  remaining  due  thereon, 
at  the  rate  of  7 per  cent.  The  ordinary  general 
meeting  of  the  shareholders  of  the  Drayton  (Ceylon) 
Estates  Company,  Limited,  will  be  held  on  March  10 
to  receive  the  report  of  the  Directors  and  statement 
of  accounts  to  December  31,  1895,  to  declare  a 
dividend  and  to  elect  a Director  and  an  Auditor. 

NEW  COMPANIES. 
THE  KNAVESMIEE  ESTATES  COMrANY,  EUniED. 
The  memorandum  and  articles  of  association  of 
the  Knavesmire  Estates  Company,  Limited,  are  pub- 
lished in  the  Gazette.  Among  the  objects^  for 
which  the  Company  is  established  are— To  purchase 
or  otherwise  acquire  the  Knavesmire  estate  and  pre- 
mises situated  in  the  District  of  Kegalla.  To  purchase 
tea  leaf  and  (or)  other  raw  products  for  manufac- 
ture, manipulation,  or  sale.  To  manufacture  tea  leaf 
and  (or)  other  raw  products.  To  plant,  grow,  and 
produce,  buy,  sell,  trade,  and  deal  in  tea,  coffee 
cinchona,  cacao,  cardomoms,  and  other  plants,  trees’ 
and  natural  products  of  any  kind  or  any  of  them’ 
The  liability  of  tho  shareholders  is  limited.  The 
nominal  capital  of  the  Company  is  R500,000  divided 
into  5,00U  shares  of  RIUU  each,  with  power  to  increase 
or  decrease  the  capital.  A share  each  has  been  pur- 
