380 
THE  TROPICAL  AGRICULTURISl . 
[Dec.  I,  1896. 
combined  value  ot  all  tlie  windmills,  clocks, 
watches,  lireanns,  mirrors,  mats  and  matting, 
linen  fabrics,  and  enamelled  goods  made  in  the  U. 
S.  during  the  year.” 
ith  regard  to  the  cattle  industry,  it  is  esti- 
mated that  three  acres  of  land  in  the  highest 
state  of  culti\ation  will  support  b head  of  cattle, 
so  that  “ If  the  :]UO,OUO,OUO  acres  of  arable  land 
in  the  Mississippi  Valley  were  to  be  devoted  to 
such  an  extensive  system  of  culture,  more  cattle 
could  be  raised  in  each  year  than  are  consumed 
in  the  whole  world.”  There  is  evidently  no  fear 
of  London  starving  just  yet.  The  U.  S.  in 
keen  competition  with  Canada,  Argentine,  and 
Australia,  can  be  trusted  to  keep  up  the  supply 
and  down  the  jwice. 
The  future  prospects  of  the  farmer  are  thus  con- 
cisely put  : — 
“ The  farms  of  the  L’nitcd  States  average  137 
acres  each.  These  farms  number  4,564,641  and 
their  average  value  in  the  census  of  1890  is  ‘3,909. 
The  farm  family  including  hired  help,  averages  six 
persons.  By  their  own  labour,  ith  an  additional 
investment  upon  each  farm  of  !?200  in  implements 
and  $800  in  domestic  animals,  those  families  mrde 
for  them.selves  during  the  year,  out  of  the  products 
of  the  earth,  a wholesome  and  comfortable 
living.  The  same  farmers  have  with  ))art  of 
their  surplus  ]>ri)iluols,  fed  all  the  urban  popu- 
lation of  the  IJ.  S.,  poor  and  rich  alike.  Cereals, 
meats,  vegetables,  dairy  produce  Ac.,  have  been 
supi)lied  to  village  and  city  markets  in  abun- 
dance. It  Ls  probably  safe  to  say  that  40,000,000 
of  American  citizens  not  living  on  farms  have 
been  so  furnished  with  all  the  necessities  and 
luxuries  known  as  products  of  the  varied  soil 
and  climate  of  .States  of  the  Lnion. 
“During  the  fiscal  year  1895,  the  U.  .S.  exported 
to  foreign  countries  domestic  commodities  mer- 
chandise, and  i)roducts  aggregating  in  value 
.$743,000,000  of  which  the  agricultural  products 
formed  $553,215,317.  Of  this  total  Europe 
received  79  per  cent. 
“Thus  American  agriculture,  after  feeding  itself 
and  all  the  cities  and  towns  of  the  IT.  >S.,  has  sold 
to  the  outside  world  over  .$500,000,000  worth  of 
ijroducts.  In  the  presence  of  these  facts,  in  the 
'ace  of  these  ligures,  how  can  any  one  dare 
to  assert  that  tanning  is  generally  unreniu- 
nerative  ? But  declaimers  declare  that  the  farms 
of  the  U S.  are  sadly  burdened  with  mortgages. 
The  census,  however,  develops  the  fact  that  on 
the  entire  valuation  returned  for  farms  there  is 
only  a mortgage  of  16  per  cent*  ’ 
We  would  now  turn  with  very  special  inteiest 
to  inquire  into  the  capabilities  of  our  beloved 
cousins  in  the  way  of  consuming  tea.  On  page 
,552  we  find  a table  showing  the  con.sumption 
of  tea ‘from  1870  to  1896,  from  which  it  appears 
that  the  taste  for  tea  is  not  perceptibly  increas- 
ing—in  1886,  the  consumption  per  caput  was 
1-3711).,  today  it  is  at  the  rate  of  1-38,  while  in 
1881-1882  it  was  actually  higher  viz.  1-54  and 
1-47. 
Coffee  is  consumed  at  the  rate  of  9'22lb.  per 
ertpUa.  In  distilled  spirits  they  are  very  mode- 
rate averaging  only  1-12  gallon  per  he.ad,  but 
in  malt  liquors  the  con.sumption  is  very  ample 
amounting  to  15  gallonsy)cr  that  is  to  say 
for  every  cu[)  of  tea  he  drinks,  .fonathan 
swigs  three  glas.ses  of  beer  ! Would  that  for  his 
own  sake  and  ours  he  could  be  induced  to  reverse 
the  order  ! 
.MARKET  FUK  TEA  SHAKES. 
Thui'sday  Evening,  Oot.  1,  1896. 
A steadier  tone  has  prevailed  during  the  past  week, 
and  in  regard  more  especially  to  some  of  the  new 
issues  there  has  been  a slight  recovery.  In  one  or 
two  quarters,  however,  some  considerable  lines  have 
been  sold  at  rather  knock-out  prices. 
Mincing  Lane  still  keeps  very  firm,  notwithstand- 
ing considerable  supplies  placed  on  the  market ; iho 
strongest  prices,  however,  seem  to  rule  for  the 
higher  class  and  fine  Teas. 
rRESH  ISSUES. 
Consolidated  Tea  and  Lands. — The  Firsts  were  at 
one  time  as  low  as  about  5s.  premium  only,  but  they 
are  now  buyers  at  10s.  to  15s.  premium,  with  holders 
asking  a higher  price.  The  Seconds  stand  round 
about  li  to  1^  prem. — 11.  and  C.  Mail,  Oct.  2, 
^ ; 
THE  DIJCKWAIII  (CEYLON)  TEA  PLANTA- 
TION COMPANY,  LIMITED. 
Keport  by  the  Directors  to  the  Sixth  Ordinary 
General  Meeting  of  the  Company  : — 
The  Directors  beg  to  submit  herewith  the  Accounts 
for  the  year  ending  .June  30th,  1896.  In  the  Statement 
of  the  application  of  the  balance  of  profit  in  the  Keport 
for  the  twelve  months  ending  June  30th,  1895,  the  loan 
from  the  Ordinary  Shareholders  was  erroneously 
deducted.  The  balance  of  profit  for  that  year 
was  . . . . . . . . . . . . £1,533  0 2 
From  which  the  following  only 
should  have  been  deducted : — 
(1)  The  Preference  Divi- 
dends . . . . £840  0 0 
(2)  The  Directors’ Fees  .50  0 0 890  0 0 
Leaving  . . . . . . £643  0 2 
to  be  carried  forward,  instead  of  £239  15s.  od 
From  this  balance,  further  deductions,  were  made 
by  the  Board  ; 
(1)  In  payment  of  a bonus  to  the 
Secretary,  who  had  given  his 
services  without  remuneration, 
from  the  foundation  of  the 
Company £200  0 0 
(2)  In  payment  of  the  Chairman's 
travelling  Expenses  in  Ceylon, 
in  the  autumn  of  1894  . . . . 21  18  6 
£221  18  6 
Balance  . . £421  1 8 
Inclusive  of  this  last  balance.  Profit  and  Loss 
account  on  June  30th  last,  shews  a surplus,  after 
writing  off  10  per  cent,  depreciation  on  value  of 
Machinei-y  and  Buildings,  of  1,984  5s.  3d.,  which  the 
Directors  propose  should  be  applied  as  follows  ; — 
(1)  In  payment  of  7 per  cent  Divi- 
dend on  Preference  Shares  . . £840  0 0 
(2)  In  payment  of  5 pe”.cent  Or- 
dinary Shares  . . . . . . 400  0 0 
(3)  In  formation  of  a Reserve 
Fund  700  0 0 
1,940  0 0 
Leaving  £44  5 0 
to  be  carried  forward  to  next  year. 
The  returns  of  Crop  have  been  206,671  lb.  Tea  and 
5,790  lb.  Cardamoms,  against  171,674  lb.  Tea  and 
5,96611).  Cardamoms  last  season.  For  the  coming 
year  it  is  estimated  the  yield  will  bo  210,000  lb. 
Tea  and  6,000  lb.  Cardamoms. 
£258  16s  lid  have  been  spent  dining  the  past 
twelve  months  in  sundry  additions  to  Factory  and 
Lines.  A system  of  artificial  manuring  is  being  in- 
troduced on  some  backward  porti  ms  of  the  Estates, 
and  very  material  increases  of  yield  are  confidently 
expected  therefrom.  Mr.  Spence  retires  from  the 
Direction  hy  rotation,  and,  being  eligible,  offers 
