744 
THE  TROPICAL  AGRICULTURIST. 
[May  I,  1897. 
The  question  of  improved  outlets  for  both  Batta- 
watte  and  Gampaha  has  been  engaging  much  of 
the  attention  of  the  Directors.  Au  extension  of  the 
Madul^ma  road  through  Battawatte  and  Forest  Hill, 
fts  a Grant-in-Aid  road,  is  likely  to  be  undertaken 
at  an  early  date,  while  the  Directors  hope  in  a short 
time  to  have  matters  ripe  for  an  application  being 
sent  m to  Government  for  the  very  necessary  ex- 
tension of  the  Uda-Pnssellawa  road. 
The  crops  estimated  for  the  current  year  are 
415,0(W  lb.  Tea,  590  bushels  Coffee,  60  ewts.  Cocoa, 
and  600  lb.  Cardamoms,  while  the  estimated  ex- 
penditure on  Working  Account,  viz.,  Rs.  150,554, 
provides  for  the  manufacture  of  40,000  lb.  Tea  for 
another  estate. 
The  outlay  on  Capital  account,  which  is  esti- 
mated at  Rs.  13,922,  will  be  for  upkeep  of  the  Tea 
fields  giving  no  return  and  extension  of  the  area  under 
Tea,  as  also  for  additional  coolie  lines  &c. 
An  extension  of  the  Gampaha  Factory  is  also  in 
contemplation  but  for  this  no  estimate  is  yet  framed, 
while  the  cost  of  providing  improved  outlets  for  both 
Gampaha  and  Battewatte  will  probably  have  to 
be  met 
Messrs.  Carlyon,  Figg  and  Chas.  Young  having 
resigned  their  seats  on  the  Board  on  leaving  the 
Island,  Messrs.  A.  Thomson,  G.  H.  Alston  and  ^y.D. 
Gibbon  were  duly  appointed  to  fill  the  respective 
vacancies.  Mr.  C.  A.  1 eechman  having  also  retired 
from  the  Board,  Mr.  E.  J.  Young  was  appointed  in 
his  stead,  and  that  gentleman  now  retires  by  rotation. 
The  appointment  of  an  Auditor  rests  with  the 
meeting. — By  order  of  the  Directors, 
WniTTALL  & Co.,  Agents  & Secretaries. 
Colombo,  17th  March,  1S97. 
CINNAMON  SALES  IN  LONDON. 
The  particulars  of  the  last  quarterly  sales  of 
cinnamon,  held  in  London  on  the  22ud  ultimo, 
which  we  pnblislied  in  our  last  issue,  atl'ord 
gratifying  evidence  of  the  correctness  of 
the  anticipations  in  which  we  had  indulged, 
of  a permanent  iini)ii)vement  in  the  value 
of,  i)erhaps,  the  oldest  of  our  staple  exports. 
After  a period  of  long,  and  almost  ruinous,  de- 
pression, our  historic^  spice  began  looking  up  a 
year  or  two  ago;  and  although  it  was  feared, 
from  the  suddenne.ss  and  extravagance  of  the  first 
considerable  rise,  that  the  upward  tendency  was 
artificial— as  indeed  it  was  on  that  particular  oc- 
casion— and  would  be  only  temporary,  the  prices 
which  then  ruled  have  been  fairly  well  maintained. 
The  speculative  prices  which  certain  medium 
marks  secured,  have  of  course  not  been  realized 
since  ; but  there  has  been  no  general  drop.  On 
the  contrary,  almost  every  sale  since  then  has 
proved  satisfactory  to  the  producer ; and  the 
confidence  we  expresssed,  that  it  is  a better  de- 
mand, and  not  .speculative  operations,  u'liich  first 
provoked  keener  competition,  seems  fully  jus- 
tified. The  main  reasons  which  point  to  this 
conclusion  are  that  almost  all  the  cinnamon 
brought  to  the  hammer,  is  knocked  down  in 
the  auction  rooms,  the  balance  finding  ready 
buyers  immediately  after,  at  current  or  improved 
rates ; and  secondly,  that  the  demand  is 
pretty  evenly  distributed,  and  all  sorts  find  buy- 
ers. Not  only  .so,  and  not  only  tliat  u.isold  lots 
scarcely  ever  have  to  be  reserveil  for  the  next 
quarterly  sales,  as  happened  pretty  frequently 
a few  years  ago,  but  the  difierence  in  price 
between  fine  and  medium  bark  is  not  as  pro- 
nounced as  it  used  to  be.  For  many  years,  and 
until  about  two  years  a^'o,  line  jiale  cinnamon 
of  the  best  known  brands  fetched  quite  double 
the  prices  of  medium  marks ; and  often  even 
more.  Thus,  we  have  known  C.  H.  De  S.  (the 
De  Soysa  brand)  realising  for  its  firsts  only 
7d.  to  8d.,  while  Golua  Pokuna  would  fetch 
Is.  6d.  to  Is.  7d.  at  the  same  sale.  All  this 
is  now  changed,  and  the  relation  of  prices  for 
barks  which  are  pure  and  unadulterated,  though 
they  may  differ  greatly  in  thickne.ss  of  quill 
and  but  little  in  quality  of  the  spice,  is 
more  reasonable.  Fancy  prices  for  fancy 
makes  are  getting  out  of  date  ; and  the  spice 
fetches  about  what  it  is  really  worth, 
with  a reasonable  allowance  for  more  attractive 
appearance  and  the  higher  w.ages  which  have 
to  be  i)aid  for  the  manufacture  of  fine  quills. 
Thus,  at  the  February  sales  the  iliiTerence  in 
price  for  Firsts  ranged  from  Is  to  Is  Od  ; for 
Seconds  from  ll^d  to  Is  5d  ; Thirds  from  lO^d 
to  Is  4d  ; and  Fourths  from  lOd  to  Is  Id.  Fine 
bark  may  be  saitl  roughly  to  have  fetched  about 
lialf  as  much  again  as  ordinary  quills,  instead 
of  double  or  more.  Then,  the  grading  of  ordinary 
bark  showing  a verj’  inappreciable  difference  | 
the  difference  in  price,  too,  was  correspondingly 
small — from  lOd  for  Fourths  to  Is  for  Firsts  ; 
wdiile  in  finely  quilled  cinnamon,  the  difference 
being  more  appreciable,  the  prices  ranged  from 
Is  Id  to  Is  61I.  Again,  the  “unworked”  cin, 
namon,  which  is  sold  as  it  is  landed,  without 
any  manipulation  in  the  Docks  or  Warehouses, 
and  which  the  trade  would  not  look  at  some 
year.i  ago,  was  all  competed  for  and  sohl  at 
prices  wliich  approximated  to  those  of  ordinary 
bark,  after  they  had  undergone  expensive  unbaling, 
brushing-up  and  re-baling.  From  this  last  men- 
tioned circumstance  alone,  we  are  justified  in 
deducing  a real  demand,  as  the  London  mono* 
polists  were  very  strong  some  years  ago  in 
resisting  the  claim  of  exporters  to  have  more 
frequent  sales,  and  sales  on  samples  diawn  from 
one  bale  of  each  quality,  instead  of  having 
every  bale  undone.  So  long  as  the  demand  was 
slack,  producers  were  unable  to  enforce  the  last 
demand  ; but  now  unworked  cinnamon  seems  to 
provoke  as  keen  competition  as  worked  spice  ; and 
what  is  more,  prices  have  risen  in  face  of  in- 
frequent sales.  Our  great  staple  tea  has  re- 
ceded in  price  despite  weekly  auctions,  while 
cinnamon,  which  had  to  abandon  even  monthly 
sales  in  deference  to  a ring  in  London,  has 
risen.  The  fact  is  of  importance  in  connection 
with  the  discussion  on  the  fall  of  prices  which 
tea  has  experienced,  as  it  p(>ints  to  the  supreme 
importance  of  the  relation  between  supply  and 
demand  in  regulating  the  market. 
Turning  to  the  catalogue  we  find  that  the  old 
marks  maintained  their  old  pre-eminence,  Golua 
Pokuna  leading  as  usual,  closely  followed  by  Wester 
Seaton,  Kimbulapitiya,  and  Mudaliyar  Raje- 
pakse’s  Kadirane  properties.  A.  & Co.  (MessR.s 
De  Mel’s  Ekelle  property),  G.  De  C.  (the  late 
Mr.  Gabriel  De  Croos’  brand)  come  next, 
ami  then  the  great  “unworked,”  led  by  the 
C.  H.  De  S.  marks.  Of  1,248  bales  offered, 
nearly  1,200  bales  found  buyers  in  the  room  ; 
and  it  w'ould  be  a mistake  to  suppose  that  the 
offerings  w'ere  small.  Although  the  quantity  was 
short  of  that  which  was  brought  to  the  hammer 
in  February  last  year,  the  catalogue  of  F'ebruary 
1896,  it  must  be  remarked,  was  exceptionally  large. 
The  February  sales  are  generally  light;  and  in 
1895  they  received  only  766  bales  or  nearly  500 
bales  less  than  was  sold  last  month.  Since 
the  sales,  a firmer  tone  seems  to  prevail,  so 
that  the  outlook  is  decidedly  cheering,  and  pro- 
prietors have  to  be  congratulated  on  the  returning 
j)iosperity  for  which  they  had  long  to  wait. 
