July  j,  1896. J 
THE  TROPICAL  AGRICULTURIST. 
25 
ing  machines  and  packing  roans  of  Calcirtta  and 
Colombo. 
MU.  W.  MACKIiNZIL  AS  'lUE  SUNliURNT  MAN. 
The  Brooklyn  CUizeii,  in  tliroe  columns,  gives 
a capital  account  of  sport  and  life  in  Ceylon 
and  India,  witli  ilinstrations,  the  ohject  being 
all  the  wliile  to  deftly  draw  the  attention  of 
readers  to  the  merits  of  onr  teas.  Tlie  article  is 
jointly  the  work  of  Messrs.  Mackenzie  and  I31c- 
chynden.  ft  is  headed  “ Oriental  Sport  ; the 
8nnhnrnt  Man  gives  some  Incidents  of  Elephant 
limits  ; Thrilling  Charge  of  the  Enormons  Leasts.” 
This  is  the  sort  of  thing  to  catch  the  ejm  and 
make  [leople  read,  especially  with  an  enormous 
“ King  of  the  Jungles”  taking  up  a good  portion 
of  the  secoml  and  third  columns.  The  Sunhurnt 
Man”  tells  a lot  of  his  experiences  in  shikar  in 
Ceylon,  but  the  main  object  is  well  held  in  view, 
and  every  reader  having  been  beguiled  by  the 
heading  and  the  illustrations  into  reading  has 
absorbeil  a lot  about  llritish-grown  tea  before  he 
has  linished. — London  Cor.,  local  “ Times.” 
E.-VSTERN  PUODUCE  AND  ESTATES 
COMPANY,  LIMITED. 
Tho  ninth  ordinary  general  meeting  of  the  share- 
hoidors  of  this  company  was  held  at  Winchostor- 
honse.  Old  liroad-sireet,  E.O.,  on  Wednesday,  April 
l‘J,  Mr  0.  J.  Lindsay  Nicholson  (tho  chairman)  pre- 
siding. 
The  Secretary  (Mr.  Douglas  K.  Smith)  having  road 
the  notice  convening  tlic  meeting, 
The  Chairman  said  ; Gentlemen,  assuming  that  yon 
will  take  the  report,  which  has  been  in  your  hand.s 
for  some  time,  as  read,  I will  now  proceed  to  make 
a few  remarks  upon  the  position  of  the  company.  I 
think  I may  say  with  confidenco  that  tho  directors 
feel  to-day  that  they  como  before  yon  with  a report 
which  shows  continuously  improving  features.  We 
have  had  Pj  year  of  some  anxiety.  Of  cour.se,  natur. 
ally  with  all  agricultural  pursuits,  we  have  had  the 
anxiety  iir  Ceylon  of  weather,  and  on  thi.s  side  we 
have  liad  the  anxiety  which  a large  crop  necessarily 
gives  as  to  market ; cut  I am  glad  to  say  we  had  had 
a bumper  harvest  in  Ceylon,  and  at  tlie  same  time, 
thanks  to  the  intelligence  of  our  superintendents,  to 
whom  you  and  we  invariably,  I am  glad  to  say,  are 
ab.c  to  give  a word  of  tha^k.s,  v/e  have  found  a 
good  crop,  accompanied  in  Mincing-lane  by  a favour- 
able appreciation  of  our  marks.  With  a price  of 
tea  a tiaotiou  luidor  8d.  it  requires  good  marks.  As 
I have  often  said  to  yon  from  this  chair,  onr  in- 
strnctious  to  our  superi  jtoudonts  are,  let  u.s  have 
(Xuality  and  quantity  if  you  like,  but  above  all  things 
give  us  quaiiiy.  You,  genllomeu,  vvho  take  an  in- 
terest, perhaps,  in  what  the  Chancellor  of  tlie  Ex- 
chequer says  may  have  been  interested  iu  the  debate 
on  tire  Jiudget  by  seeing  what  Sir  Michael  liicks- 
Deach  said  as  to  Ceylon  tea,  that  it  appears  to  the 
Exchequer  a matter  of  some  anxiety  whether  Ceylon 
tea  is  not  put  rather  on  the  more  favoured  nation 
clause,  seeing  that  it  is  stronger  than  Cliina  tc.a, 
and  therefore  a cup  of  tea  made  out  of  it  pays  less 
duty  than  a cup  of  tea  made  out  of  China  tea. 
That  is  an  interesting  compliment  to  our  product. 
While  oil  tliat  subject,  you  may  also  have  observed 
that  lie  drew  attention  to  tlio  fact  that  tho  groat 
speculation  in  gold  mines  during  last  year  liad  caused 
a consumption  of  soiiiethiug  like  ono  miliion  bottles 
of  champagne,  lie  added  to  tiiat  another  etuioiis 
statistic  that  tho  consumption  of  lea  had  iiicruasod 
by  10,000,000  lb.,  so  it  is  evidently  tiio  caso  that  for 
every  excess  bottle  6f  champagne  we  may  congiatubite 
ourselves  that  ten  pounds  extra  tea  are  emsumed. 
AVell,  gentlemen,  those  are  little  matters  which  are 
somewhat  interesting.  Wo  believe  you  arc  served  in 
Ceylon  by  a contented  and  happy  staff,  and  our  ex- 
perience is  tliat  we  liavo  always  application  from 
men  of  good  position  and  in  every  way  eligible  for 
appointments  in  the  service.  I attribute  a groat 
dual  of  tho  coutentmout  of  our  staff  abroad  to  tliy 
i 
caro  and  assiduity  in  tho  framing  of  the  furlough 
rules,  by  my  friend,  Mr.  Cameron,  the  managing 
director,  and  to  Mr.  Starcy  for  his  exertions  iu  Ceylon. 
The  progress  of  this  company,  as  you  will  notice, 
has  been  almost  unprecedented  in  the  few  years  we 
have  been  connected  with  it.  It  has  increased  ten- 
fold, and  at  tlio  present  moment  I am  happy  to  say 
our  shares  aro  at  a premium.  (Applause.)  I saw 
in  a paper  tho  other  day  that  this  is  the  centenary 
of  the  occupation  of  Ceylon.  Lombay  and  Madras 
wero  well  known  and  inhabited  by  settlers  some 
years  before  ITOG.  I think  that  in  the  past  century 
Ceylon  has  well  developed  herself,  and  we  may  be 
very  proud  of  the  little  island  both  iu  a commercial 
and  pilanling  sense.  You  will  see,  if  you  refer  to 
tlio  report,  that  the  acreage  of  our  tea  is  10,.S-17 
all  iu  good  cultivation.  The  estimated  yield  for 
1S3G  is  3,458,000  lb.,  against  3,270,000  lb.  last  year. 
There  is  no  doubt  that  the  secret  of  success  lies  in 
the  fact  that  we  must  not  go  to  sleep.  With  tho 
increase  iu  tho  production  of  tea  there  is  tho  neces- 
sity to  look  out  for  markets,  such  as_  Russia,  the 
colonics,  and  America.  (Herr,  hear.)  India  is  not 
a competitor;  she  should  be  with  Ceylon  a sister, 
and  together  they  should  endeavour  by  friendly 
rivalry  to  let  tho  established  value  of  Eastern  tea  be 
well  known.  WTierever  it  is  known  we  may  be  sure 
it  will  make  a successful  home.  Our  accounts  aro 
so  clear  that  anyone  who  runs  may  read.  On  our 
cipifcal  wc  have  earned  £16,000;  wo  have  paid  in- 
terest, £7,500;  we  have  paid  debentures  £7,000;  wo 
have  put  to  reserve  £5,000 ; we  pay  in  dividends 
£15,000 ; and  we  carry  over  £10,000  in  round  figures. 
Since  the  commencement  wo  have  paid  off  £73,000 
of  tho  £195,000  debentures,  and  we  have  reduced  the 
rate  of  interest  on  tho  remainder  from  6 to  4.|  per 
cent.,  and  to-day,  after  paying  you  gradually  increas- 
ing dividends,  we  pay  you  5 per  cent.  At  the  same 
time  the  board  are  convinced  of  the  propriety  of 
continuing  the  prudent  course  of  speedily  paying  off 
tho  debentures.  (Applause.)  Wo  commenced  with 
that  determination,  und  we  have  continued  it.  While 
continuing  to  discharge  the  debentures  freely  as 
circumstances  will  allow,  we  look  forward  with  con- 
fidence, unless  something  unforeseen  happens,  to  be- 
ing able  ti  give  you  increasing  dividends.  (Hear, 
hear.)  There  may  be  many  matters  on  which  I 
have  not  spoken  and  on  which  you  may  desire  to 
ask  questions.  These  1 shall  be  happy  to  answer 
to  tho  best  of  my  ability.  I beg  now  formally  to 
move — “ That  the  report  of  tho  directors,  dated  April 
16,  1806,  bo  received  and  adopted,  and  that  a final 
dividend  at  tho  rate  of  2J  per  cent,  on  the  caijital 
paid  up  on  tho  preferred  shares,  and  at  tho  rate  of 
3i  per  cent,  on  the  ordinary  snares,  for  tho  year 
ending  Decoinbet  31,  1895,  be  declared  and  made 
payable  on  the  4th  klay,  1896.  ” (Applause.) 
Mr.  Ralph  A.  Cauieion  (managing  director)  ; In 
the  remarks  1 pLvposo  to  make  in  seconded  tho 
resolution  I sliall  necessarily  bo  going  over  moro 
less  familiar  ground,  but  there  are  a few  niaUcr.s 
which  I always  like  to  bring  before  you  in  compar- 
ing one  year  with  another.  The  increase  of  crop 
in  1895  was  about  590,000  lbs.,  or  nearly  20  percent, 
ovxr  that  for  1894.  Tne  yield  per  acre  on  tea  ia 
bearing  wa.s  356  fbs.,  as  against  303  lbs.  the  year 
brfore  ; although  ISO  I was  somewhat  short,  still 
ap.art  iron  tint  the  increase  is  very  satisfactory. 
Tiro  not  price  per  lb.  was  rather  over  Jd,  less 
than  in  1891,  but  this  is  moro  than  compensated 
for  by  tho  increased  yield  and  the  lower  cost  per 
lb.  for  production  cousequont  on  that  increase.  So 
f.u'  as  we  can  judge,  we  have  no  reason  to  foar 
or  expect  any  further  cousidorablo  fall  this  year. 
rcgard.s  extensions,  you  will  observe  that  we 
continue  to  add  about  2.50  to  300  acres  a year  to 
o'lr  eultivatel  area.  No  doubt  there  is  moro  laud 
that  could  bo  planted,  but  we  aro  obliged  to  regn- 
Jate  it  to  a considerable  extent  so  as  not  to  inlcr- 
furo  with  the  labour  force  on  our  estates.  1 still 
t link,  iiowcver,  tiuvt  we  might  do  more  in  this 
direction,  and  when  we  see  our  way  to  do  it  wo 
shall  no  doubt  take  it  in  hand.  We  have  about 
2,000  acres  of  available  land  which  1 think  is  more 
or  less  fit  for  tea  cultivation.  Taking  into  accoijut 
