686 
TllK  TROPICAL  AGRICULTURIST. 
[April  i,  1896. 
sociation  consisting  of  three  brokers.  Loth  the  seller 
and  buyer  appeared  before  this  Court  in  support  of 
their  conteniion.  The  seller  repeated  Ins  former  de- 
claration that  sample  and  bulk  wore  eipial,  and  that 
therefore  the  contract  was  valid,  the  quality  of  the 
goods  having  nothing  to  do  with  the  matter.  The 
buyer  contended  that  the  sample  should  be  submitted 
to  chemical  analysis,  as  tlie  ordinary  test  of  smell 
and  appearance  was  not  necessarily  conclusive  of  its 
quality,  and  that  the  finding  of  the  analyst  should 
guide  the  committee  in  its  decision,  This  the  com- 
mittee agreed  to,  and  specimens  taken  from  the 
bulk  and  from  that  part  of  the  sample  accompany- 
ing the  original  offer  (which  had  remained  in  the 
hands  of  the  broker)  were  submitted  to  Mr.  Chas. 
Umney,  who  reported  as  follows; — 
Sample  No.  1. 
Sp.  gr.  at  15  deg.  C 'SriTl 
Solubility  in  alcoh^ol  of  bO-per-cent.  j Not  completely 
strength  by  vol.  (sp.  gr.  O hio  at  [ soluble  in  any 
15  deg.  C.  ) proportion 
The  specific  gravity  and  behaviour  towards  alcohol 
of  the  above  strength  indicate  gross  adulteration, 
Tho  substance  used  for  adulteration  was  found  to 
be  kerosene,  the  proportion  present  being  between 
‘10  and  -12  per  cent. 
Note. — ture  citronella  oil  has  a sp.  gr.  of  from  ’887 
to  dlOO  at  15  deg.  G..  and  is  soluble  in  ten  times  its 
volume  of  alcohol  of  80-per-cent.  strength, 
This  specimen  was  taken  from  the  sample  sub- 
mitted with  the  original  offer ; the  one  taken  from 
bulk  was  identical  with  it,  excepting  that  its  sp.  gr 
was  ‘8577. 
If  any  slight  dilfei’ence  exists  (Mr.  Umney  reports) 
between  the  odour  of  the  two  oils,  it  is  dependent 
upon  the  kerosene  with  which  they  are  adulterated, 
tnat  contained  in  No.  1 beiug  of  a better  grade  and 
free  fi'om  odour,  than  that  in  No.  2.  In  my  opinion 
no  sufficient  difference  exists  between  tho  oils  to 
make  their  commercial  value  other  than  practically 
identical. 
Notwithstanding  those  analyses,  the  committee  de- 
cided in  favour  of  the  seller,  and  gave  the  following 
award : — 
Appeal  Decision,  FEiiiiuAKVl7. — Your  appeal  against 
the  award  of  the  arbitration  on  the  contract  dated 
December  l‘J,  18115,  for  four  drums  citronella  oil  sold 
for  delivery  during  Jauuary-February,  1896,  has  been 
considered  by  a committee  in  accordance  with  Hide 
7 of  the  Association,  and  they  have  decided  as  follows 
— viz.,  to  confirm  the  umpire  s award  that  the  delivery 
is  equal  to  the  sample  and  must  be  taken  by  the 
buyer.  (Signed)  Andiiew  Devitt,  Fresident. 
Apart  from  considerations  of  commercial  morality 
involved  in  the  question,  tlie  matter  is  ot  consider- 
able trade  interest  for  viuhous  reasons.  In  the  hrst 
place  it  shows  a recrudescence  of  the  practice  of  adul- 
terating citronella  oil,  which  was  believed  to  have 
been  put  a stop  to  some  throe  or  lour  years  ago 
througn  the  exertions  of  Messrs.  Schimmel  & Go. 
That  firm’s  denunciations  were  directed  against  the 
sophisticating  Singalese.  There  is  no  evidence  that 
those  gentlemen  nave  had  a hand  in  the  mixing 
process  disclosed  by  Mr.  Umney,  neither  is  there 
anything  to  show  chat  the  adulteration  has  taken 
place  in  London.  From  this  point  of  view  alone 
the  obscurity  in  which  the  origin  of  the  oil  is  involved 
must  be  regretted.  Luyers  ot  citrouella  oil,  however, 
wilt  do  well  to  beware  of  purchasing  before  they  have 
ascertained  the  quality  of  the  goods  offered,  es- 
pecially bi  cause  liie  purity  test  is  one  which,  to  be 
made  roughly,  requires  no  other  appurlenaucos  than 
a bottle  of  W per-cciit  alcohol.  From  a legal  stand- 
point, also,  the  arbitrators’  decision  raises  an  in- 
teresting question.  When  a person  deliberately  de- 
clares that  he  offers  “citronella  oil”  is  ho  justified 
in  supplying  it  mixed  with  '12  per  cent  of  kerosene  ? 
The  clause  as  per  sample  might  be  held  to  safeguard 
him,  but  tliere  is  in  tire  Sale  of  Goods  Act  (50  and 
57  Viet.,  1898)  a section  which  provides  that  "where 
there  is  a contract  for  tho  sale  of  goods  by  des- 
cription, there  is  an  implied  condition  that  the  goods 
shall  correspond  with  the  description;  and  ij  the  sale 
be  Ixj  sample  as  tcelL  as  by  dcseriplion,  it  is  not  suffi- 
cieut  that  the  bulk  of  the  goods  corresponds  with  the 
sample  if  the  goods  do  not  also  correspond  with  the 
description.”  This  section  appears  to  have  been 
ignored  by  the  brokers  who  formed  the  court  of  ap- 
peal in  this  instance.  Hut  it  is  perhaps  worth  the 
while  of  buyers  to  consider  whether  it  would  not  be 
preferable  to  reserve  liberty  of  action  to  appeal  to 
the  law  of  the  land  rather  than  to  bind  themselves, 
on  their  contracts,  to  abide  by  the  decision  of  gen- 
tlemen who  are  neither  legal  nor  scientific  specialists. 
— Chemist  and  Druyyist,  Feb.  29. 
MARKET  FOR  TEA  SHARES. 
Thursday  Evening,  Feb.  20,  1896. 
Business  still  continues  active  in  many  Indian  Tea 
shares,  and  some  of  the  Geylou  shares  have  latterly 
also  participated  in  the  movement. 
The  BulHonist  this  week  again  refers  to  the  Prefer- 
ence shares  of  the  Mungledye  Tea  Company,  cor- 
recting some  slight  inaccuracies  in  its  last  week’s 
criticism. 
The  Financial  News  devotes  a column  of  its  Tues- 
day’s issue  to  an  account  of  the  position  of  Gey- 
Ion  Tea  companies’  shares,  and  remarks  on  the 
great  advance  vhich  has  recently  taken  place  in 
quotations. 
Fisksii  Issues. — Dimbula  Valley  Pref.  have  been  dealt 
in  just  at  a fraction  below  T1  premium,  or  equal  to 
£6  per  share,  and  the  Ordinary  have  changed  hands 
at  par. 
Mincing  Lane,  though  a little  easier  for  Ceylon 
Teas,  keeps  steady  to  firm  for  Indians,  while  recent 
news  from  India  of  an  increased  diversion  of  the  crop 
to  Asiatic  and  other  markets  seems  likely  to  bring 
about  a fi'esh  advance  in  price  here  in  Loudon. 
Ceylon  Shakes. — C.  T.  P.  Co.  Ordinary  have  been 
taken  at  25J,  and  the  Prefs.  are  enquired  for 
at  16^  upwards,  with  holders,  however,  asking  17 
for  them. 
Ceylon  and  Oriental  US-paid  Ordinary  shares  have 
changed  hands  at  a fraction  under  3J. 
Eastern  Produce  au'”  Estates  £5  shares  are  wanted 
at  4i  upwards  without  finding  shares. 
Lanka  Plantations  are  still  inquired  for  at  5J  up 
to  possibly  5^,  but  with  sellers  asking  rather  more 
money. 
Oriental  Estates  7 percent.  Prefs.  (in  arrear  of  in- 
terest) are  being  asked  for  at  about  £2  upwards  for  the 
£5  share. 
Scottish  Ceylons  have  been  taken  at22i,oran  advance 
of  10s  over  last  price. 
Standard  Tea  Company’s  £6  paid  shares  are  asked 
for,  but  without  finding  shares. 
Debentures  also  of  Ceylon  companies  have  been  in- 
quired for,  but  most  of  them,  though  paying  high  inte- 
rest, appear  to  be  redeemable  at  par,  and  consequently 
buyers  hesitate  to  pay  the  premium  of  t'il  or  £1  per 
cent  which  is  asked  for  thorn. — J/.and  C.  Mj.il,  Fah.  21. 
Tiiuksdav  Evening,  P'eb.  27. 
Business  still  goes  on  increasing  in  the  shares  of 
the  Indian  tea  companies,  and  (he  buying  of  these 
shares  is  stimulated  more  and  more,  firstly  by  tho 
large  amount  of  money  now  seeking  investment,  and 
secondly  by  the  increasing  difficulty  wliich  attaches 
to  the  obtaining  of  anything  like  a fair  rctuiu  or 
yield  either  upon  home,  or,  indeed,  even  on  foreign 
or  colonial  industrial  or  any  other  class  of  securities. 
In  view  of  this  fact  it  is  almost  surprising  that  the 
augmentation  in  values  of  tea  Companies’  siiares  has 
not  been  even  greater  tiian  it  is. 
The  binaneial  'J'imcs  of  Tlmr.sday  devotes  a leading 
article  to  tho  position  of  Indian  tea  companies  ine- 
fereiice  shares,  and  makes  some  very  pertinent  and 
instructive  remarks  upon  their  value  to  investors 
even  at  their  present  advanced  values,  and  deals  in 
a masterly  way  also  with  the  general  position  of  the 
Indian  tea  industry  and  the  security  which  it  offers  to 
investors  in  these  “prior  liens.” 
Mincing  Lane,  though  again  a little  easier  for  the 
heavy  supplies  of  Ceylon  Tea,  keeps  steady  to  firm  for 
tho  continuously  diminishing  offerings  of  Indians. 
Tho  almost  entire  cessation  of  sliipiiieuts  from  Cal- 
cutta, which  is  now  reported,  warrants  the  expect- 
