6^8 
THE  TROPICAL  AGRICULTURIST.  [April  i,  1897. 
After  making  adequate  provision  for  depreciation  of 
Buildings  and  Machinery,  as  also  for  Commission  due 
to  the  Superintendent  on  the  year's  working,  a 
balance  of  R87,G54'20  is  shewn  at  the  Credit  of  Profit 
and  Loss  Account.  This  sum  includes  1140,000  pre- 
mium on  the  (econd  issue  of  Shares,  and  R6,997’G0 
brought  forward  from  the  previous  year’s  accounts. 
The  Directors  recommend  that  in  terms  of  their 
Circular  to  the  Shareholders  dated  21st  August  last, 
the  sum  of  R45,00C  be  applied  towards  the  purchase 
of  Cuskieben,  and  placed  to  credit  of  an  “Extension 
Fund”  account.  The  Profit  and  Loss  would 
thus  be  reduced  to  It42,654’20,  out  of  which 
an  interim  dividend  of  6 per  cent,  on  the  original 
Capital  of  R270,000  was  paid  on  the  8th  August, 
absorbing  R16,200.  The  Directors  recommend  a 
final  dividend  of  9 per  cent  on  the  original  Capital 
of  R270,000,  making  1.5  per  cent  for  the  year,  and 
a dividend  of  2J  per  cent  as  provided  for  in  their 
Circular  of  12th  October,  1896,  on  the  second  issue 
of  shares  of  R80,000.  These  final  dividends  will 
amount  to  R26,300,  leaving  a balance  of  R154'20 
to  be  carried  forward. 
The  crops  estimated  for  1897  from  the  Company’s 
estates  amount  to  323,000  lb.  Tea  against  an  esti- 
mated outlay  of  R90,206.  The  estimated  profit  from 
Rents  and  other  sources  is  R2,500.  In  addition  to 
the  above  expenditure  the  sum  of  R4,000  is  allowed 
in  the  estimates  for  New  Machinery,  Ijines,  &c. 
Mr.  W.  D.  Gibbon  having  retired  from  the  post 
of  Inspector  of  the  Company’s  Estates  as  from  1st 
January,  1897,  Mr.  A.  E.  Wright  has  been  ap- 
pointed to  that  office. 
Mr.  G.  W.  Carlyon  having  retired  from  the  Board 
on  nis  departure  for  England  the  remaining  Dir- 
ectors elected  Mr.  Alex.  Thomson  to  fill  the  va- 
cancy. Mr.  C.  A.  Leechman  having  also  retired 
from  the  Board,  Mr.  A.  E.  Wright  has  been  simi- 
larly appointed  to  the  Directorate.  In  terms  of 
the  Articles  of  Association  Mr.  A.  E.  Wright  now 
retires  by  rotation  from  the  post  of  Director  and 
is  eligible  for  re-election. 
Mr.  R.  L.  M.  Brown  having  resigned  the  post  of 
Auditor  to  the  Company,  the  Directors,  under  the 
Company’s  Article  No.  92,  appointed  Mr.  Hercules 
J.  Scott  to  fill  the  vacancy  thus  occasioned.  The 
appointment  of  an  Auditor  for  the  current  year  rests 
with  the  meeting. 
By  Order  of  the  Directors, 
WHITTALL  <0  Co., 
Aqents  and  Secretaries. 
Colombo,  February  20th,  1897. 
THE  IlUANW’ELLA  TEA  COMPANY, 
ITMITEU. 
The  annual  ordinary  general  meeting  of  the 
above  Company  wa.s  held  at  the  Conijiany’s 
Offices,  No.  7,  tineen  Street,  Fort,  Colombo,  6tli 
Marcli,  1897. 
The  following  is  the  directors  report:— 
ACREAGE; 
Tea  in  full  bearing 
. 313 
acres. 
„ „ partial  bearing 
. 25 
n 
,,  not  in  bearing 
. 36 
Jungle  and  Waste  laud 
. 199 
Total  . 
. 673 
acres. 
The  Directors  beg  to  place  before  the  Shareholders 
the  Accounts  of  the  Company  for  the  past  year. 
The  total  crop  secured  was  153,828  lb.,  being  6,172 
lb.  less  than  was  estimated.  This  was  equal  to  491 
lb.  per  acre,  and  it  was  produced  at  a cost  of 
R34  768'82  on  working  account,  being  at  the  rate  of 
22-60  cents  per  lb.,  wliich  is  slightly  under  the  esti- 
mate. It  sold  for  a net  ol  R54,514-.56,  an  average  of 
35- 13  cents  per  11).  • i • 
A sum  of  111,776-09  expended  in  manuring  during 
November  and  December  has  been  brought  forw-ard 
to  this  year’s  working  account.  The  capital  expendi- 
ture during  the  year  lias  been  1119,465-81  for  now 
clearing,  factory  extension  and  new  steam  engine  and 
boiler,  against  which  has  been  credited  111,938  fox- 
proceeds  of  plants  and  old  machinery  sold. 
After  providing  for  Colombo  administration  ex- 
penses, Superintendent’s  Commission  and  writing  off 
R2,000  for  depreciation  of  buildings  and  machinery, 
as  also  R254'b7  the  balance  of  preliminary  expenses, 
a net  sum  of  R13  707-84  equal  to  5-17  per  cent  on 
the  total  paid-up  capital  of  the  Company  remains  at 
the  credit  of  profit  and  loss  account,  out  of  which 
the  Directors  recommend  that  a dividend  at  the  rate 
of  5 per  cent  be  declared,  leaving  R457-84  to  be 
cari'ied  forward. 
This  disappointing  result  is  mainly  due  to  the  low 
prices  obtained  for  the  Company’s  Tea,  attributed 
to  the  insxxfficient  Factory  accommodation,  the  ad- 
ditions to  which  occupied  an  unexpectedly  long  time 
in  completion.  The  desired  accommodation  has  now 
been  provided  and  ample  machinery  arranged  for, 
and  the  Directors  will  not  be  satisfied  unless  a marked 
relative  impi-ovement  in  the  prices  obtained  is  mani- 
fest during  this  year. 
This  year’s  ci'op  is  estimated  at  180,000  lb.,  equal 
to  an  average  of  530  lb.  per  acre,  costing  24  cents 
per  lb.  on  working  account,  including  R2,000  for 
manuring  and  a capital  outlay  of  R8,160  on  clearing 
and  machinery  is  anticipated. 
For  the  information  of  the  Shareholders  the 
Directors  issue  with  this  Report  a copy  of  Mr.  W.  R. 
G.  Hickey’s  last  visiting  report. 
The  Directors  all  retire  from  office  in  terms  of 
the  Articles  of  Association,  and  Mr.  Eric  S.  Anderson, 
being  about  to  leave  the  Colony,  does  not  offer  him- 
self for  re-election. 
The  appointment  of  an  Auditor  for  the  current 
year  rests  with  the  meeting. — By  order  of  the 
Directors,  WHirrALL  & Co., 
Agents  and  Secretaries. 
Colombo,  12th  February,  1897. 
♦ 
PERAK  PRICES  OF  COFFEE  AND 
OUTTA  FOR  FEBRUARY. 
Coffee,  to  ^30.50  per  jxikul. 
Gutta  Porclia,  First  quality,  $130  to  $180  jier 
pikul. 
Gutta  Perclia,  Seconxl  quality,  .$.50  to  $110  per 
pikul. 
W hite  Gutta  $50  to  $60  per  pikul. 
India  Rubber,  $120  to  $130  per  pikul. — Perak 
Government  Press. 
NOTES  FROM  THE  METROPOLIS. 
February  12. 
The  lecture  delivered  one  evening  this  week  be- 
fore the  Society  of  Arts  by  Mr.  David  Crole  on 
“ THE  CHEMISTRY  OE  TEA  ” 
was  c'early  not  intended  for  general  consumption, 
but  rather  for  the  instruction  of  probationers  in 
chemistry.  Mr.  Crole  is  an  A.ssamite,  and  the 
Indian  element  in  his  audience  predominated  as  a 
matter  of  course.  The  lecturer  began  by  deploring 
the  fact  that  chemistry  and  kindi'ed  sciences  had 
not  bestowed  as  much  attention  on  tea  as  on  other 
products.  With  tea,  he  said,  the  advancement  of 
knowledge  had  been  chiefly  made  along  practical 
lines,  ami  science  had  been,  till  (broadly  siieaking) 
the  inesent  decade,  very  little  requisitioned  to  help 
in  the  evolution  of  a more  ])erfect  .sj'stem  of  culti- 
vation and  manufacture.  His  pi-escnt  object  was 
to  direct  moie  general  attention  towards  and 
stimubiting  research  in  this  direction.  The.se 
introductory  sentences  will  serve  to  show  the  scope 
of  Mr.  Crule’s  paper.  Tlie  audience  were  soon 
c.xlleil  upon  to  wrestle  with  passages  of  most 
elaborate  and  ear-sjilitting  chemical  definitions 
and  descriptions,  delivered  with  the  ease 
of  an  cxjiert  by  Mr.  Grole,  who  iilso  show-ed 
intinuxte  acquaintance  with  the  names  of  nume 
