850 
THE  TROPICAL  AGRICULTURIST. 
[June  i,  1896. 
coiitcniplatiug  going  into  the  coffee  business  wo  wonlcl 
say  select  your  district  and  then  devote  s few  months 
of  your  time  in  finding  out  w'nat  others  liave  done 
and  their  experience  in  the  district  yon  may  decide 
to  locate  in.  To  those  who  may  decide  to  locate  in 
Pana  we  belivo  Mr.  llycroft  would  be  only  too 
to  Si''o  them  the  benefit  of  his  experience. 
Although  he  has  made  many  mistakes  he  has  learned 
to  avoid  similar  error.s  in  future  and  as  we  said  be- 
fore has  demonstiated  that  c 'ffee  planting  can  be 
made  a success  in  the  district  of  Puna.  Mr. 
Rycioft  has  put  in  a complete  plant  for 
the  preparation  of  his  coffee  for  market, 
which  is  extensive  enough  to  meet  the  re- 
quirements of  a numbers  of  settlers  in  his  neigh- 
borhood for  some  years  to  eoiup.  That  his  methods 
of  preparing  coffee  for  the  market  are  up  to  date  is 
amply  demonstrated  in  the  fact  that  he  sold  his 
whole  output  ill  this  city  a few  weeks  ago  receiving 
therefor  the  highest  price  paid  this  se.isou. 
To  return  to  our  visit  to  tho  coffee  field,  after  the 
party  had  inspected  the  various  p'aiiUugs  and  learned 
much  that  was  new  to  most  of  the  visitors  the  iC' 
turn  trip  was  made  to  Pohoiki.  General  Warlicld 
uaa  delighted  with  all  he  had  seen  and  especially 
the  delightful  cliin.ite  of  Puiia.  Upon  return  to  Mr. 
Kycroft’a  home  a r.plendid  luncheon  aweited  the  p.xrty 
at  which  was  served  cclTee  j-.repa-red  fr  in  beans 
grown  on  the  jiromises  and  which  General  \\hu'licld 
declared  to  exc  1 any  coffee  be  had  ever  p.atakeu  of. 
T'or  ourselves,  v\e  had  imagined  wc  knew  good 
coffee  and  often  enjoyed  what  wo  heiieved  to  be  a 
very  superior  cup  but  since  jiu'takhig  of  uM.;. 
llycroft's  excellent  brew  we  fear  to  return  to  enr 
for  decoctions  so-called  coffee.  At  all  events  wo 
know  of  that  we  shall  not  again  enjoy  a cup  of 
genuine  good  coffee  until  we  have  the  good  fortune 
to  visit  the  homo  of  Mrs.  Kycroft.  General  'Var- 
field  was  so  much  delighted  with  Mrs.  liycroft’s 
coffee  that  he  has  ordered  his  next  year’s  supi'ly 
from  Mr.  llycroft  so  that  iu  future  Hawaiian  who 
visit  the  California  Hotel  at  San  Francisco,  will  find 
the  most  prominent  item  on  thj  bill  of  faro,  ‘Tlawaii 
(Puna)  coffee,  d la  lii/croft." 
The  district  of  Puna  like  almost  the  entire  Island 
of  Hawaii  is  cxcepliona'ly  conducive  to  good  health. 
"SVe  were  informed  that  Mr.  llycroft  has  only  twice 
in  seventeen  years  had  occasion  to  call  in  the  ser- 
vices of  a physician.  We  look  forward  to  I’una 
becoming,  within  a very  few  years  one  of  the  most 
thriving  districts  in  Hawaii. — Ilantriian  Commcrci'd 
Journal  and  Jil'irilime,  Jleporf,  March  10 
TllR  STANDAllD  TEA  COf>iPANV  UE 
GEVLUN,  LIMITED. 
The  lifi.h  umuial  meet.iig  of  this  company  was 
held  at  the  office.  2.’>,  Feuchurch  Street,  on  Tuesday, 
April  21.  The  dhcctors  present  were  Mr.  Alex.  Brooke 
(in  the  chair),  Mr.  Norman  W.  Grieve,  ami  Mr.  A'/il- 
liam  Hollo.  Among  those  present  were  Mrll.L.  Stables, 
Mr.  11.  J.  Chippindall,  Mr.  llsginald  W.  Wickham, 
Mr.  11.  A.  Bosanquet,  Mr.  .John  Anderson,  Mr.  .1. 
L.  Anstrutber,  Mr.  Edward  S.  Grigson,  klr.  E.  F. 
-Bosauquot,  IMr.  II.  Atkinson,  and  Mr.  S.  Wilson. 
Tho  Socretary  having  read  the  notice  calling  the 
meeting,  and  the  reports  and  accounts  having  been 
taken  as  read,  the  chairman  said  ; — 
Gentlemen,— I address  you  with  feelings  very  differ- 
ent to  those  at  our  fiist  meeting,  when  we  were 
dependent  for  a dividend,  while  our  tea  was  young, 
on  wliat  we  deemed  two  somewhat  broken  reeds— ^ 
hark  and  coffee.  The  former  akied  ns  then,  but  has 
failed  ns  i ow  altogether.  Our  lir.st  year  it  contri- 
buted towards  our  income  above  .t2,00U.  This  last 
year,  ISit;'),  it  contributed  nothing,  some  XT>  or  t'G 
111  rely,  less  co.st  of  cutting  and  transport.  Coffee, 
on  the  other  Land,  as  you  will  notice  in  tho  report, 
has  kept  up  in  quantity  fairly  and  in  price  excel- 
lently, a.iul  reali  id  by  it  almost  as  much  as  any 
year.  It  amouiued  to  ai  ove  5 )icr  cent,  on  the 
paid-up  cujnlal.  Howfier,  wo  do  not  e.xpect  this 
year,  Ib'jC,  to  get  even  half  the  tamo  qiiaiitily. 
Meanwhile  the  estates  arc  otherwise  improving  and 
matiu'ing  ; the  tea  plants  are  becoming  or  have  be- 
come more  matured,  and  the  yield  is  increasing.  The 
directors  have  been  well  served  by  their  malingers  in 
both  districts — JIaskeliya  and  Uda  Pussellawa — by 
Jilr.  Craib  on  Gouravilla,  by  Mr.  Bagot  on  St.  Leo- 
n.irds,  and  by  others  on  the  different  estates  in  that 
district,  including  Mr.  Henderson,  who  superintended 
LidJesdale  and  Eskdale  long  before  the  company 
were  tlie  owners,  and  left  the  end  of  last  year,  1 am 
sorry  to  say. 
The  accounts  I have  no  need  to  go  through  seriatim  ; 
they  explain  themselve.s,  bat  I shall  be  happy  to 
answer  any  enquiries.  Our  debt,  at  one  time  considered 
by  some  liiiainial  authorities  large,  was  brought 
into  very  modest  dimensions  on  our  last  issue  of 
■ capital.  Exchange  contiuiicd  last  year  almost  as  favour- 
able for  the  company  as  in  ISOl.  It  has  since  risen. 
Whether  it  will  remain  high  or  fall  through  llussia 
adopting  a gold  standard  or  other  influence  I will 
not  venture  to  prophesy.  In  old  days,  when  tiio  rupee 
first  began  to  drop  and  to  affect  our  different  Eastern 
cxcliange  bunks,  tho  ohainn.xn  at  their  annual  mcctiiig.s 
used  lo  toll  what  the  future  was  to  he  until  they  found 
that  they  wore  invariably  wrong,  when  they  dropped 
the  subject.  1 will  only  remark  to  illustrate  what  an 
important  matter  it  is  to  u.s,  that  on  tho  scale  of  our 
drawings  of  Ib'.ida  penny  iu  the  exchange  means  a diffe- 
rence of  £1.000  to  us. 
However,  as  reg.irds  the  past  year,  aided  by  coffee  and 
a good  cxcliange  and  increase  of  yield  of  tea,  our  profits 
have  incrcascd,aii.lthediiectorsliave  the  pleasure  of  re- 
csmmeiidliig  a subatauLially  iucroased  dividend  on  a 
considerably  increased  c.ipital.  We  began  by  divid- 
ing at  tho  rate  of  10  percent.,  then  after  two  years 
12|  percent.,  putting  by  somethin;  to  the  reserve 
fund,  but  wo  have  never  written  off  anything  for  de- 
preciation of  machinery  and  buildings.  We  now 
prop'.j-e  a dividend,  making  for  the  year  15  percent. 
Wc  desire  to  write  off  for  depreciation  £1,500,  and 
to  cairy  £2,500  to  receive.  No  further  purchase  of 
estates  lias  been  made. 
Wo  have  had  one  gin  at  loss  in  the  year  through 
the  de.ath  of  our  old  friend  Mr.  Peter  Moir,  He  was 
my  colleague  when  tho  Standard  Tea  Company  was 
first  conceived  and  started.  As  a director  ho  was 
very  x>ainstaking,  looking  into  all  accounts  and  re- 
liorts,  both  Cey !o  i and  liome  accounts,  most  minute- 
ly, legular  ill  his  atteudances,  and  prudent  and 
enterprising  in  liis  judgment.  In  him  I lo.st 
a personal  friend  whom  £ bad  known  inti- 
mately for  thirty-five  years,  and  for  whom  my 
respect  increased  tho  more  1 knew  him.  He 
was,  I think,  the  most  straight  and  lionest 
man  I ever  met.  To  supply  his  place  several  consi- 
derable sbarelioldeis  suggested  Sir.  \V.  Hollo,  and  the 
remaining  members  of  the  board  were  very  pleased 
when  they  beard  that  gentleman  would  join  and  give 
the  company  the  benefit  of  his  long  and  intimato 
acquaintance  with  Ceylon  phuitiug  aifairs  and  of  his 
excellent  judgment.  They  had  the  pleasure  of 
appointing  him  under  the  articles  of  association,  and 
1 am  sure  tho  appointment  will  receive  the  unani- 
mous approval  of  the  shareholders.  (Applause.)  I 
bog  to  move  that  the  report  and  the  accounts  bo 
adopted. 
Mr.  Norman  W.  Grieve  seconded  the  motion,  which, 
after  a few  remarks  from  Mr.  Wickham,  Mr.  Edward 
S.  Grigson,  and  other  shareholders,  was  unanimously 
carried. 
The  Chairman  proposed,  and  Mr.  Hollo  seconded  : 
“ That  a dividend  of  10  per  cent.,  free  of  income- 
tax,  on  the  £56,000  paid-up  capital  be  declared,  which, 
with  the  interim  dividend  distributed  July  IS, 
makes  15  per  cent,  for  the  year  1895  ; that  this  filial 
dividend  be  payable  on  and  after  April  22:  that 
.£1,500  be  ivritton  off  for  depreciation  of  machinery; 
that  .£2,500  bo  placed  to  reserve ; and  that  .£709  7s 
•Id  be  cavriod  forward  to  year  18.)J."  Tao  reiolu- 
tion  Mas  carried. 
Mr.  Griovo  proposed  and  Mr.  J.  L.  Anstrnther 
seconded,  and  it  was  carried,  “ 'J'hat  Mr.  Alexander 
Brooke  bo  ro-clected  a director.” 
Mr.  A.  E.  Maidlow  Uavis,  C.  A.,  of  21,  Hood  Lane, 
was  elected  auditor  of  tho  company’s  accounts  for  1896. 
