i88  THE  TROPICAL  AGRICULTURIST.  [Sept,  i,  i?g6. 
Sifter,  aud  a iloll  Breaker  and  Sifter,  and  the  ac- 
commodation and  Machinery  are  lit  to  turn  out 
100,000  lb.  of  made  tea  per  annum. 
The  Bungalow  and  several  sets  of  Lines  are 
permanent. 
Cuop, — The  estimates  for  the  current  year  are. 
Burnside  . . 3(1,000  lb.  made  tea. 
Heeloya  . . 80,000  ,,  ,,  ,, 
andSO  maundsof  tea  seed. 
Midlothian  . . (50,000  ,,  ,,  ,>  , . t i 
The  Estates  will  be  taken  over  as  from  1st  July, 
1896,  and  the  prices  agreed  upon  for  the  properties 
are  : — 
Burnside 
Heeloya 
Midlothian 
£2,000 
5,250 
10,000 
£17,250 
The  Vendors  of  Heeloya  are  to  be  paid  in  cash, 
but  those  of  Burnside  and  Midlothian  accept  , 
half  in  fully-paid  Shares  of  the  Company  an d halt 
in  cash  ; and  Mr.  R.  Porter,  the  Vendor  of  Mid- 
lothian, guarantees  a return  on  that  Estate 
first  18  months  at  the  rate  of  10  per  cent  per  annum. 
THE  KINTYRE  TEA  ESTATES  COxMPAN\- 
Biuectous -G.  A.  Talbot,  Esq.,  21,  Minciug  Lane, 
F?  (Dhrctor  Ceylon  Tea  Plantation  Company, 
T imitedl  A A.  Baumann,  Esq.,  109,  Queen’s  Gate 
5 W (Chairman,  Consolidated  Trust,  Limited,  and 
(Messrs.  Nevett,  Oswald  A Co.,  loO,  Fenchmcti 
^^Se?aSies  and  AoENTs.-Messrs.  Nevett  Oswald 
6 C^,  London  ; Messrs.  George  Steuart  & Co.,  Colombo. 
Visiting  Agent  in  Ceylon.— E.  S.  Grigson. 
prospectus. 
This  Company  has  been  formed  to  acquire  a,s 
/>oi.na  thv'e  Tea  Estates,  situate  in  (^eylon,  and 
“,o“ris  ‘St  EsfCte,  Ih.  Elicits  Estate, 
“Iht'’ toe'  eSS ' .ill  be  .e,,ited  by  tbe  Coe.- 
panv  as  going  concerns,  as  and  from  ^ 
JMy^  I89I,  and  will  include  all  live  and  dead  stock 
*‘'??ivm‘'b\fee^lSy^rlL^^^^  the  enclosed  reports 
that  the  crorfoi^he  current  year  is  estimated  a 
of  ?iiade  tea  ^ho.dng  a^n-ob^ 
on  the  season’s  operations  of  £.),80U  sterling. 
After  providing  therefore  for  interest  on  the  1 le- 
ference  \3l1ares  and  Directors’  fees  the  bahance  sho«ld 
be  sufficient  for  a handsome  return  on  the  ordinaiy 
that^the  Ayr  Estate  is  a first-class  low  countiy  pio- 
^%ne  terms  upon  which  the  Company  acquires  the 
threrirStaJs  from  the  vendors,  are  incorporated 
itniuiinoiul  Eoai’ic  of  llie  one  pait,  and  tbn>  Eoni- 
panyof  the  other  part,  another 
(tpoffrev  P'ort  of  the  one  part,  and  this  Compaii)  of 
the  oilmr  part,  and  the  other  made  P Vnl  f 
Isabella  Gibson  of  the  one  part,  and  this  Com 
nlnv  of  the  other  part.  These  contracts  provide 
For  the  purchase  pime  being  £(>2,000,  payable  £2,000 
!n  Preference  Shares,  £22,000  in  Oramary  Shares, 
nnd  the  balance  of  £38,000  in  cash.  ... 
After  payment  of  purchase  money  this  issue  will 
nrovide  £^i5,000  available  as  Working  Capita^  and  tor 
Fimther  purchase  of  land  as  opportunity  offers. 
The  Preference  Shares  will  be  ontitlea  to  a Cumu- 
lative Dividend  of  five  per  cent  per  annum,  ''hich 
will  take  priority,  both  its  regards  Dividend  aud 
u‘ has  “b'i^en'' aininge^^^^  MesVrs.  Nevett  Oswald 
V^Co^  shall  act  as  the  London  agents  ot  the  Com- 
pany reliving  the  usual  mercantile  commission  of 
2g  per  cent  on  sales,  aud  which  conimissioii  cove^ 
office  room  in  London,  and  the  nccess.try  clerical  staff 
to  do  the  work  of  the  Company  in  England.  The 
agents  in  Ceylon  will  be  Messrs.  George  Steuart  & Co. 
No  promotion  money  has  been  or  will  be  paid. 
There  are  numerous  Trade  Contracts  in  existence, 
and  the  subscribers  will  be  held  to  have  notice  of 
such  contracts,  and  to  have  agreed  with  the  Com- 
pany as  Trustee  for  the  Directors,  and  other  persons 
liable,  to  waive  any  claims  against  them  for  not 
more  fully  complying  w'ith  the  requirements  of  Sec- 
tion 38  of  the  Companies  Act,  1862.)  JfiB  Jlllfi 
NOTES  FROM  OUR  LONDON  LETTER. 
London,  July  1.3. 
We  had  hoped  that  for  .some  time  at  least 
there  \vould  be  an  interval  of  re.st  from  fresli 
application  to  the  public  on  behalf  of 
NEW  TEA  COMPANIES. 
There  is  a very  general  feeling  here  that  the 
thing  is  being  overdone.  Not  only  every 
week,  but  nearly  every  day,  the  daily  and  other 
papers  contain  advertisements  of  fresli  companies 
prepared  either  for  India,  Ceylon  or  for  botli 
countries  combined.  The  Saturdai/  Review  and 
several  other  leading  papers  have  been  of  late 
giving  expression  to  tlie  tired  feeling — one  might 
almost  say  the  “bored”  feeling — with  which 
these  oft-repeated  advertisements  are  regarded. 
There  is  a very  generally  expressed  opinion  that 
ere  very  long  these  applications  for  public  sub- 
scription will  fall  very  Hat  on  the  market,  and 
that  the  fact  w'ill  have  an  injurious  ellect  upon 
the  public  conlidence  in  tlie  luture  of  the  tea 
enterpri/.e.  And  the  conclusion  will  certainly  be 
ilrawn  that  there  must  be  sometliing  hollow  iu 
in  it  when  sucli  a large  jiroiiortion  of  private 
proprietors  are  hastening  to  disburden  themselves 
of  their  holdings.  But  apparently  tlie  end 
is  not  yet.  SVe  have  just  received  tlie 
prospectus  of 
“ THE  liURNSIDE  TEA  COMPANY  OF  CEYLON,” 
tlie  subscription  lists  for  which  were  to  close 
yesterday.  Of  this  prospectus  a copy  is  sent 
you  witli  this.  You  will  see  that  it  proposes 
a capital  of  £.5O,(J00,  of  whicli  £21,000  is  to  be 
first  issued  in  ordinary  shares  and  debentures, 
the  interest  jiayable  on  the  last  being  experi- 
mentally reduced  to  live  per  cent.  The  ruling 
rate  of  tlie.se  with  other  tea  companies  has  been 
six  per  cent,  and  even  that  rate  has  not  proved 
in  all  cases  to  be  sufiiciently  attractive.  The 
board  of  direction  embraces  names  that  will  be 
well-known  to  you  in  Ceylon,  Messrs.  M'hittall 
A Co.  being  tlie  Ceylon  agents,  and  Messrs. 
Lyall,  Anderson  A Co.  the  .secretaries.  Tlie  estates 
to  be  acijuired  are  “ Burnside”  in  Raiigala, 
“Heeloya”  in  (lie  same  district,  and  “Mid- 
lothian ” in  Maskeliya.  £2,000  is  to  lie  paid 
lor  the  liist  of  tlic.se,  tT>,2.50  for  the  second,  and 
£10,000  for  the  third.  It  yet  remains  to  be 
seen  if  the  Burnside  Company  will  lie  tbe 
first  to  illustrate  the  feeling  referred  to  above 
that  these  tea  companies  are  being  overdone. 
We  are  by  no  means  confident  that  it  would 
not  be  better  for  Ceylon  in  the  long  run  if 
some  check  wc.c  experienced  in  the  lloating  of 
these  imimerable  tea  comiiaiiies. 
Recent  letters  of  this  series  have  mentioned 
the  dispute  as  to  the  tide  ot 
the  INDFA  AND  CEYLON  TEA  COMPANY. 
The  following  letter  addressed  to  the  Times  ex- 
jilains  the  iiaUire  of  the  error  committed  w’ith 
respect  to  this.  We  do  not  quite  understand, 
however,  ho>v  a title  could  be  provisionally 
