692 
THE  TROPICAL  AGRICULTURIST.  [April  i,  1897. 
The  directors  propose  to  increase  the  cultivated 
area  of  Ankande  by  clearing  up  and  planting  in  tea 
during  the  S.  \V.  monsoon  50  acres  and  during  the 
N.  E.  monsoon  further  50  acres,  total  100  of  the  un- 
opened heavy  chena  land  there. 
According  to  the  articles  of  Association  the  whole 
of  the  directors  retire,  but  being  eligible  offer  them- 
selves for  re-election. 
The  appointment  of  Auditor  also  rests  with  the 
meeting. 
Lewis  Brown  A Go.,  Agents  and  Secretaries. 
PROSPECTS  OF  “TEA”  IN  LONDON. 
Several  letters  from  “ the  City  ” by  tins  mail 
are  marked  by  quite  a cheery  tone  as  to  the 
prospects  of  tea  and  Tea  Companies,  One  gentle- 
man, who  pays  close  attention  to  “tea,”  tliinks 
it  is  going  to  take  the  place  of  “gold”  in  the 
esteem  of  provincial  investors  throughout  the 
United  Kingdom,  in  view'  of  the  great  loss  sus- 
tained of  late  through  “gold  mining  shares”  in 
Western  Australia  and  even  in  South  Africa. 
We  quote  as  follows  : — 
The  public  are  looking  with  increased  interest 
after  tea  shares,  since  they  have  suffered  so  much 
in  gold  mines  w'ithout  a prospect  of  getting  any 
return  from  many  of  them.  There  are  buyers  from 
all  parts  of  the  Kingdom  and  I believe  we  shall  see 
a considerable  expansion  of  business  this  year  and 
the  number  of  new  companies  coming  out  will  form 
wider  field  for  investors. 
“ The  unsettled  political  outlook  has  a very  serious 
effect  upon  general  business  just  now,  for  people  do 
not  know  what  may  be  the  result  of  the  bellicose 
Greek  and  unless  the  Powers  are  united  as  to  what 
is  to  be  done  serious  sonsequences  may  still  further 
develope.” 
From  another  City  authority  we  have  the  tol- 
low'ing  ; — 
“ Mr.  James  Sinclair  has  returned  from  Ceylon, 
very  favourably  impressed  with  the  appearance  of 
the  properties  owned  by  the  Dirabula  Valley  Tea 
Go.,  and  the  satisfactory  future  that  lies  before  it. 
Quarantine  regulations  prevented  his  landing  at  Brin- 
disi or  Marseilles,  as  the  authorities  at  these  ports 
absolutely  prohibit  the  landing  of  any  passengers 
from  the  East,  except  under  the  most  galling  restric- 
tion, and  a delay  which  renders  the  voyage  round 
to  Plymouth  much  preferable  in  every  respect.” 
“ The  feature  of  the  last  few  weeks  has  been  the 
strong  position  of  the  Indian  tea  market,  owing  to 
the  short  supplies.  Ceylon  teas  have  shown  some 
improvement  and  the  market  is  stronger,  but  prices 
compare  very  unfavourably  with  those  obtained  the 
Indian  teas.”  , ^ 
“ There  is  a lull  in  the  production  of  Tea  Companies. 
Owners  are  asking  very  high  prices,  whilst  the 
unsettled  state  of  the  political  horizon  render  in- 
vestors very  cautious  with  their  moves.” 
the  knavesmire  tea  estates 
COMPANY  LIMITED. 
The  first  ordinary  general  meeting  of  the  Knaves- 
mire Tea  Estates'  Conqiany,  Limited,  w-as  held 
on  the  13th  March,  at  the  Registered  OHice  of  the 
Company,  No.  14,  (^ueen  Street. 
The  Directors’  Reiiort  is  as  follows  : — 
Dirkctous  : — H.  O.  Iloseason,  Esq.,  A.  G,  xj. 
Dnpuis,  Esq.  , n • t>  . 
Your  Directors  have  now  to  submit  their  Keport 
and  Accounts  for  season  ended  31st  December,  1896. 
The  accounts  cover  the  first  twelve  months  of  the 
Comnany's  work,  and  shew  a balance  at  credit  of 
“ Profit  and  Loss”  of  R19,799'69,  out  of  which  the 
Directors  recommend  payment  of  a Dividend  at  the 
rate  of  7 per  cent  per  annum.  A Dividend  at  that 
rate  will  absorh  1117,717-67,  and  leave  a sum  of 
K2  082-02  available  to  cover  Directors’  fees,  and  to 
iir.nif1n.te  in  nart  the  expenses  connected  with  the 
formation  ol  the  Company,  and  transfer  of  the  Estate. 
The  past  season’s  Tea  Crop  amounted  to  250,9401b. 
upon  an  estimate  of  250,000  lb.,  and  the  Directors 
are  confident  that  a materially  larger  yield  would 
have  been  secured,  had  the  labor  force  been  on  a 
satisfactory  footing  all  through  the  year. 
The  Labor  question  is  still  a source  of  anxiety  to 
the  Directors,  but  in  some  respects  the  position  has 
improved  of  late,  and  the  efforts  of  all  concerned 
are  being  directed  to  bring  about  such  an  increase 
of  the  force  as  will  admit  of  the  property  being 
craped  up  to  its  full  capacity  in  the  future. 
For  1897  the  Directors  have  decided  to  fix  the  Crop 
Estimate  at  300,000  lb.,  a figure  which  they  regard 
as  well  as  within  the  mark,  assuming  an  adequate 
Labor  force.  The  cost  of  producing  the  above  Crop 
and  placing  it  in  Colombo  is  estimated  at  R63.930. 
In  terms  of  the  Articles  of  Association  all  the 
Directors  retire  on  this  occasion,  but  are  eligible  for 
re-election. 
Geo-  Steuart  & Co.,  Agents  & Secretaries. 
THE  KIRKLEES  ESTATE  COMPANY, 
LLMITED. 
The  annual  ordinary  general  meeting  of  the 
above  Company  was  held  at  the  Company’.s 
otlice.s  No.  7,  Queen  Street,  Fort,  Colombo,  on 
the  I3th  March. 
The  following  is  the  Keport : — 
ACREAGE  of  KIRKLEES  ESTATE. 
Tea  in  beai’ing  . . 280  acres. 
„ „ partial  bearing  . . 32  „ 
„ not  in  bearing  . . . . 80  „ 
Total  Tea  392  acres. 
Cardamoms  . . . . 20  ,, 
„ and  Timber  . . 4 „ 
Timber  ..  ..  ..  56  „ 
Uncultivated  Land  . . . . 245  ,, 
Total  717  acres. 
The  Directors  have  pleasure  in  submitting  to  the 
Shareholders  the  Accounts  of  the  Company  for  the 
past  year. 
The  Crops  secured  in  the  year  were  88,597  lbs. 
Tea,  86  bushels  coffee  and  736  lbs  cardamoms.  The 
average  net  prices  realized  were  544  cents  per  lb. 
for  the  tea,  R16-65  per  bushel  for  the  coffee  and 
Rl-35  per  lb.  for  the  cardamoms. 
After  making  ample  provision  for  depreciation  of 
Buildings  and  Machinery  the  net  profit  for  the  year 
amounted  to  R13, 117-11,  to  which  has  to  be  added 
the  balance  brought  forward  from  1895,  Rl, 541-57, 
making  a total  of  1114,658-68  available  for  dividend, 
equal  to  about  14J  per  cent,  on  the  Capit.al  of 
the  Company.  An  Interim  Dividend  of  5 per  cent 
was  paid  on  the  6th  August  last,  and  the  Directors 
now  recommend  a final  dividend  of  8 per  cent,  makf 
ing  13  per  cent  for  the  year,  leaving  a balance  of 
Rl,658-68  to  be  carried  forward  to  tbe  current  sea- 
son’s account. 
The  estimates  for  this  year  are  95,000  lbs  tea,  .50 
bushels  coffee  and  1,000  lbs,  cardamoms,  on  an 
expenditure  of  R33,G80. 
The  estimate  of  expenditure  on  capital  account  is 
R12,300,  which  provides  for  the  upkeep  of  the  tea 
not  yet  in  bearing,  additions  to  Machinery  and 
Buildings  and  a survey  of  the  Estate. 
During  the  year  Mr.  G.  W.  Carlyou  resigned  his 
seat  on  tho  Board,  and  Mr.  A Thomson  was  invited 
to  take  his  ))lace.  In  terms  of  the  Articles  of  As- 
sociation Mr.  G.  11.  Alston  retires  by  lotatiou  from 
tho  office  of  Director,  but  is  eligible  for  re-election. 
Tho  appointment  of  an  Auditor  for  the  current 
year  will  rest  with  the  meeting. 
By  order  of  the  Directors,  Whittall  & Co. 
Colombo,  Fob.  27th,  1897.  Agents  A Secretaries. 
