Oct.  t,  1896. 
252  THK  TROPICAL  AGRICULTURIST. 
THE 
CEYl-ON  PKOVINCIAE  ESTATES 
COMPANY,  iOMlTEl). 
GKNTRAI.  MEKl'ING. 
The  liTst  ordinary  general  meeting  of  the  share- 
holders of  the  Ceylon  Pro\  incial  Estates  Company, 
Limited,  rvas  held  on  the  7th  Sept,  at  the  oltice  of 
the  Agents  and  Secretaries,  Messrs.  Ceo.  Ste\iart 
A Co.'  Mr.  t'.  L.  (,'lements  presided  and  i)resent 
were  11  on.  M . \V . .Mitchell,  c.M.(!.,  and  ..Messrs. 
T.  S.  Crigson,  d.  I’aterson,  E.  John,  E.  J.  de 
Saram  and  A.  Murray  ; also  Mr.  T.  S.  (Jrigson 
represented  Mr.  E.  S.  (Irigson,  Mrs.  A.  K.  \Vise, 
Mr.  J.  M.  Smith,  Mrs.  Esther  Crahhe,  and  Mr. 
J.  L.  Gordon  ; Mr.  C.  (roi'doii  was  rejiresented 
1)V  Mr.  J.  I’aterson,  Mr.  John  .Vnderson  and 
Mr.  A.  M'.  S.  Sackville  hy  Mr.  E.  L.  Clements, 
anil  Mr.  H.  D.  Deane  hy  Mr.  F.  J.  de  Saram. 
Mr.  Ci.EMENT.S,  in  moving  the  ado)ition  of  the 
report,  made  a few  preliminary  remarks  on  the 
satisfactoiy  working  of  the  Comiiany  during  the 
seven  months  ended  31st  July  last,  up  to  wliich 
date  their  total  earnings  were  lM2,9iy'77  of 
which  U32,4S7‘o3  remained  for  disposal  after 
paying  for  ex[>3nses  which  were  e.xtraordinary. 
i'lie  pi'olits  represente  1 an  e.xrning  of  8 per  cent 
on  the  seven  nioii  hs  or  14  jier  cent  per  annum, 
which  was  very  satisfactory.  The  crop  for  the 
year  was  estimated  at  323,000  lb.  of  tea  of 
which  they  had  gathered  217,000  lb.  up  to  the 
end  of  August  last,  leaving  nearly  one-third  of 
the  estimate  to  be  yet  realized.  The  average 
cost  of  tea  per  lb.  was  20  cents  and  the  sale.s  aver- 
aged 50  cents  Out  of  the  prolits  Directors  recom- 
n7ended  the  payment  of  an  ad  interim  dividend  of  4 
per  cent  which  absorbel  1121,120,  and  111,010  to 
the  Directors  as  remuneration,  carrying  forward 
1110,367 -5.3. 
Mr.  E J01I8  seconded  the  motion,  and  the 
report  was  adopted. 
It  was  unanimously  agreed  to  pay  the  interim 
dividend  of  4 per  cent,  after  which  Mr.  F.  J.  Dk 
Sauam  pi’nt>3-53<-l.  and  .Mr.  E.  JoilM  sec  )uded,  that 
111,000  be  paid  to  the  Directors  as  remaneration 
for  services  rendered. 
On  the  iiDtiou  of  Hon.  \Y.  W.  ^ftTCiIEEL, 
C.M.G.,  seconded  by  Mr.  E.  Joiiv,  the  Directors 
were  re-elected. 
This  was  all  the  biisine.ss. 
The  following  is  the 
lieport  of  the  Directors  for  presentation  to  the 
first  ordinary  genoriil  meeting  of  the  Shareholders 
to  beheld  on  S itarnay,  5th  September,  18')i),  at  noon. 
Directors  :—E.  S.  Grigion,  Eiip,  F.  L.  Cleniouts, 
Esep,  John  Paterson,  E iq. 
The  Directors  have  the  pleasure  to  submit  their  re- 
port, together  with  a statement  of  accounts  to  31st 
Julv,  18'J6. 
The  property  of  the  Company  consists  of  the  Glas- 
sauMi  estate  in  Dimbula  and  the  Brownlow  estate 
in  Slaskeliya.  The  former  was  purchased  for  .£13,000, 
of  which  £12,000  was  jpaid  in  cash  and  .£5,000  was 
left  on  Mortgage;  and  the  latter  property  w.is  bought 
for  .£20,500,  of  which  £10,500  was  to  be  paid  in  cash 
and  the  equivalent  of  £10,000  in  shares  of  the  Company 
tgio  actual  sum  paid  in  rash  was  £3,500  an  exist- 
ent mortgage  for  £2,000  not  having  been  paid  off, 
and  the  Directors  are  now  in  correspondence  with 
the  mortgagees  with  a view  to  keeping  it  on  for  a time. 
The  Acreages  of  the  Estates  now  stand  as  follows: — 
Glassaugh. 
acres. 
Tea  in  bearing  . . 270 
, not  ,,  ..21 
„ planted  this  year  13 
Forest  • • 21 
Waste  and  Grass  13 
Total.  .314 
Brownlow. 
Total 
acres. 
acres. 
400 
570 
21 
50  . , 
53 
52 
72 
85 
85 
584 
•)28 
The  Company’s  financial  year  doos  not  end  until 
gist  Deoemoer  next,  but  to  comply  with  the  Ordinance 
it  is  necessary  to  hold  the  first  general  meeting 
within  12  months  of  the  incorporation  of  the 
Company. 
The  accounts  now  presented  show  only  7 mouths’ 
working  of  the  Estates,  and  the  Directors  are  pleased 
to  be  able  to  say  that  the  results  obtained  so  far 
come  up  to  their  expectations. 
After  providing  for  interest  on  the  Glassaugh  and 
Brownlow  mortgages  to  the 31st  July  a sum  of  R3,814‘56 
paid  the  vendors  of  Brownlow  for  interest  on  purchase 
money  to  date  of  transfer,  all  preliminary  and  mis- 
cellaneous expenses  incidental  to  the  formation  of  the 
Company,  and  all  legal  e.xpenses  in  connection  with 
the  transfer  of  tlie  Estate,  the  7 months’  working  shows 
a net  gain  of  1132,437'53  which  the  Directors  propose 
to  dispose  of  as  under: 
To  pay  an  interim  divided  of  4 per  cent  R21, 120.00 
,,  pay  the  Dii-ectors’  remuneration  ,,  1,000‘00 
„ CaiTy  forward  . . . . „ 10,367'53 
E32, 487-53 
111  accoi’dance  with  the  Articles  of  Association  all 
the  Directors  i-etire  but,  being  eligible,  offer  them- 
selves for  re-election. 
By  Order, 
Geouge  Steu.iut  & Co.,  Agents  and  Secretaries. 
Colombo,]  25th  August,  1805. 
HORNSEY  TEA  ESTATES  COMl’ANV, 
LIMITED. 
Registered,  July  28,  hy  Hirwood  anil  Sbeplien- 
s-m,  31,  Lomb.inl-street,  E.C.,  with  a capital  of 
£50,000  iu  £-5  sliare.s — 4,0)0  cumulative  six  per 
cent  preference  sliare.s  ami  6,000  £5  ordinary 
sharo.s.  Object,  primarily,  to  adopt  and  carry 
into  effect  certain  agreements  e.xpre.ssed  to  be 
made  by  this  Company  with  W.  S.  Saunders 
ami  Mos.srs.  L.  Reiss  Brothers  Sc  Go.,  to  acquire, 
hy  purchase  or  otherwi.se,  lands,  factorie-s,  build- 
ings, &c.,  in  Ceylon,  or  elsewliere,  iu  particular 
the  estates  known  as  the  Hornsey  Estate  and 
t'.ie  .Vherc.urney  Estate,  situate  in  the  ilistrict 
of  Dikoya,  in  the  Island  of  Ceylon;  to  develop 
and  turn  to  account  the  lands,  buildings,  and 
rights  for  the  time  being  of  tlie  Company  in 
such  manner  as  they  shall  see  lib,  by  clearing, 
draining,  planting,  cultivating,  farming,  grazing, 
mining,  bnilding  tiiercon,  Ac.;  to  coiistnict  and 
maintain,  in  Ceylon  or  elsewhere,  roads  ways, 
rail  and  tram  roads,  telegraph  lines,  telephones, 
electric  liglib,  heat  and  jiower  works,  canals, 
reservoirs,  waterworks,  wells,  aqueducts,  water 
courses,  furnaces,  gasworks,  piers,  svharves,  docks, 
quartz,  saw  and  other  mills,  hydraulic  works, 
facborie.s,  warehouses,  &c. ; .as  cultivators  .and 
dealers  iu  tea,  coffee,  cardamoms,  and  other 
crops;  also  as  miners  and  smelters,  shipowners, 
merchants,  exporters,  and  importers,  carriers, 
agents,  brokers,  storekeepers,  builders  and  con- 
tractors, company  promoters.  See.  The  signa- 
tories are Shai-es. 
H.  A.  Hancock,  28,  Mincing-lane,  E.  C I 
A.  Zimmern,  51,  Lime-street,  E.C 1 
11.  S.  Hancock,  28,  Mincing-lane,  E.C 1 
1)  B.  Crane,  4,  IVoodview-terrace  High- 
gate,  N.  1 
A.  B.  'romkins,  lYalmer  House  Surbiton  ...  1 
H.  \V.  Hubberb,  Lincoln  House,  Cat- 
ford,  S.  E I 
G.  E.  Elvisb,  96,  Embledon-road,  Ladv- 
wcll,  S.E [ 
Tbe  number  of  directors  is  to  be  nob  less  than 
three  nor  more  than  live.  The  first  are  C.  A. 
Reiss,  H.  A.  Hancock,  W.  S.  T.  Saunders,  and 
\V.  S.  Sichcl.  t^iialilicatiou,  £300.  Remunera- 
tion, 100  each  ])or  annum.  Registered  office  : 51, 
Faun-street,  E.C,— Financial  Xews,  Aug.  15, 
