8o4 
THE  TROPICAL  AGRICULTURIST. 
[May  I,  1897. 
power,  transfer  toriiis,  W’e  take  tlie  following 
notice  from  the  Home  and  Colonial  Mail  : — 
THE  TEA-PRODUCING  COMPANIES 
OF  INDIA  AND  CEYLON. 
Under  the  above  title  Messrs.  Gow,  Wilson,  and 
Stanton,  v/ho  are  tea  share  brokers  as  well  as  tea 
brokers,  have  issued  a handy  volume,  which  will  be  of 
great  value  to  investors  in  tea  shares  and  all  interested 
in  tea.  It  gives  the  history  and  results  of  the  tea- 
producing  companies  of  India  and  Ceylon,  which  are 
capitalised  in  sterling.  In  a preface  to  the  volume  it 
is  pointed  out  that  about  £85,000.000  of  British  capital 
is  invested  in  tea,  and  the  book  gives  the  most  in- 
teresting personnel  and  data  based  on  the  latest  obtain- 
able results  of  the  working  of  these  companies. 
Attention  is  called  to  the  fact  that  tea  companies  have 
been  seldom  saddled  with  extravag.uit  promotion  ex 
penses,  that  nearly  ail  these  tea  concerns  are  directed 
by  business  men  and  not  mere  guinea  pigs,  and  also 
that  these  companies  place  unusually  full  and  lucid 
yearly  accounts  before  shareholders.  These  and  other 
facts  concerning  the  development  of  the  tea  industry, 
known  perhaps  to  many  of  our  readers,  but  not  to  the 
general  public,  cannot  fail  to  prove  of  the  greatest 
value  in  stimulating  the  interest  of  the  investing  public 
in  tea.  The  book  is  most  welcome,  and  we  con- 
gratulate Messrs.  Gow,  Wilson,  and  Stanton  upon  its 
compilation  and  issue.  It  is  published  at  the  price  of 
one  guinea. 
We  have  grumblers  sometimes  about  the  price 
of  a Ceylon  Handbook  and  Dii’cctory  ol  1,200  to 
1,500  pages;  but  we  feel  sure  merchants  and 
others  do  not  grudge  the  guinea  for  this  book  of 
172  pages. 
KELANI  VALLEY  TEA  ASSOCIATION, 
LIMITED. 
The  following  is  from  the  report  of  the  board  of 
directors,  to  be  presented  to  the  shareholders  at  their 
eleventh  annual  ordinary  meeting,  to  bo  held  at  the 
office  of  the  company  on  the  13th  inst.  The  direc- 
tors herewith  submit  to  the  shareholders  the  report 
and  accounts  of  the  company  for  the  year  ending 
December  31,  189(1.  During  the  past  year  no  additions 
have  been  made  to  the  company’s  acreage,  but 
about  50  acres  of  native  lands  have  recently  been 
bought  in  order  to  obtain  a satisfactory  site,  with 
good  water  power,  for  the  new  joint  factory  for 
Wereagalla  and  Parusella,  which  will  shortly  be 
erected  in  place  of  the  factories  now  existing  on  the 
two  estates,  and  which  will  tend  to  economise  the  cost 
of  manufacture.  The  total  crop  secured  from  the  four 
estates  amounted  to  6,38,145  lb.,  against  an  estimate 
of  566,000  lb.,  and  showed  an  increase  compared  with 
that  of  1895  of  40,950  lb.  of  tea,  white  the  average  yield 
for  the  four  estates  was  615  lb.  an  acre.  The  factories 
and  machinery  continue  in  efficient  order,  but  as  on 
previous  occasions,  the  directors  have  written  10  per 
cent  off  their  cost  for  depreciation,  and  the  amount, 
£67018  6d,  appears  in  the  account.  Although  the  crop 
is  in  excess  of  the  estimate,  and  of  that  secured  last 
year,  the  results  of  the  company’s  working  have  not 
been  BO  satisfactoi  y as  might  have  been  expected,  and 
show  a considerable  shrinkage  from  those  realised  in 
1895,  which  is  to  be  accounted  for  : 1.  Owing  to  the 
Degalessa  tea  having,  for  a time,  not  maintained  its 
usual  standard  of  quality.  2.  By  lower  markets  and 
higher  rate  of  exchange.  3.  By  reduction  in  the  Cey- 
lon receipts  from  the  manufacture  of  tea  for  neigh- 
bouring estates,  and  owing  to  rice  having  been  supplied 
to  the  labour  force  at  its  approximate  cost.  'The  com- 
pany’s net  profits  for  the  year,  after  deducting  the  sum 
of  £670  Is  6d  written  off  for  depreciation,  amount  to 
£1,664  13s  5d,  which  with  £118  11s  8d  brought  for- 
ward from  last  account,  leaves  ,£T,783  5s  li  to 
be  ■ now  dealt  with,  and  this  it  is  proposed  to 
appropriate  as  follows  ; Amount  as  above,  £1,783 
5s  Id;  interim  dividend  of  5 per  cent  paid  in 
September  absorbed  £813  5s.— It  is  now  proposed  to 
pay  a final  dividend  of  5 per  cent,  (free  of  income 
tax),  making  10  per  cent  for  the  year,  £813  5s  ; 
leaving  a balance  to  carry  forward  of  £156  15s  Id. 
In  accordance  with  the  articles  of  association,  Mr. 
Donald  Andrew  retires  from  the  boai’d,  and  being 
eligible  offers  himself  for  re-election.  Mr.  J.  B. 
Laurie,  C.  A.,  offers  himself  for  re-election  as  auditor. 
— Ij.  <0  C.  Mail,  April  2. 
THE  STANDARD  TEA  COxMPANY  UF 
CEYLON,  LIMITED. 
Sixth  Report  of  the  Directors  to  the  Shareholders. 
To  be  submitted  at  the  general  meeting,  to  be  held 
on  Wednesday,  14th  April,  1897,  at  noon,  ai  the  Offices 
of  the  Company. 
The  Directors  submit  Statement  of  Accounts  to  31st 
December,  1896.  The  Profit  and  Loss  Account  shows  a 
profit  on  the  working  of  the  Estates  in  Ceylon  of 
£12,317  Us  9d,  which  with  amount  brought  forward  from 
last  year,  less  interest  and  home  charges,  shows  a sum 
of  £11, KX)  7s  lid  available  for  division.  In  August  1896, 
the  Diiect;  rs,  under  the  powers  entrusted  to  them  dis- 
tributed an  interim  dividend  for  the  six  monthsending 
30th  June,  1896,  of  5 per  cent.  (10  per  cent,  per  annum), 
absorbing  £2,8(10.  They  now  recommend  a Dividend 
at  the  rate  of  10  per  cent,  (making  15  per  cent,  for  the 
year)  absorbing  £’5,600 ; the  placing  £1,000  against 
depreciation;  £’1,500  to  reseve;  and  the  carrying  for- 
ward to  the  next  year  £8(X)  ’7s  lid.  The  results  are 
not  quite  so  favourable  as  last  year,  owing  chiefly  to 
less  coffee  and  to  higher  Exchange.  Still  the  Direc- 
tors consider  the  results  good,  for  it  was  always  fore- 
seen that  coffee  would  sooner  or  later  die  out,  and 
that  Exchange  was  liable  to  be  far  less  favourable. 
The  coffee  produced  in  1896  was  about  321  cwts., 
which  realised  about  £1,400,  or  less  than  half  of  the 
produce  of  1895.  TheaverageExchangeforthe  Company 
as  drawers  in  Colombo  was  1/2  19-32nd  against  1/lJ  in 
1895,  and  1/1  13-32nd  in  1894.  The  difference  in  1896  un- 
favourably affected  the  accounts  to  the  extent  ofabout 
£1,(XX).  The  Tea  from  the  Company’s  Uda  Pussellawa 
pronerties  sold  during  1896  maintained  in  Mincing 
Lane  the  same  distinguished  position  it  has  hitherto 
occupied  It  realised  more  per  lb.  in  1896  than  in  1895, 
though  the  market  average  for  Ceylon  Tea  was  lower. 
For  this  much  credit  is  due  to  the  Manager  at  St. 
Leonards. 
Mr.  Norman  Grieve,  who  has  had  occasion  to  travel 
in  the  East,  availed  himself  of  the  opportunity  of  visi- 
ting Ceylon  and  of  inspecting  the  ( ompany’s  proper- 
ties. He  reports  well  of  them  and  of  the  Esiate 
Managers  he  saw. 
Concygar  of  176  acres,  of  which  169  acres  are  inder 
Tea,  has  been  bought  from  Colonel  E.  A.  Butler,  as 
from  1st  January,  1897,  or,  perhaps,  it  would  be  more 
correct  to  say,  that  Colonel  Butler  has  contracted  to 
join  and  to  sell  his  Estate  to  the  Company  for  350 
shares  of  £’10  fully  paid.  The  Directors  consider 
this  a fair  contract,  and  expect  the  place  to  work  in 
well  with  Gordon  and  St.  Leonards,  between  which 
Estate  it  is  situated. 
The  Comiiany’s  Properties  at  the  close  of  1896  were 
3,290  acres,  N\ith  1,519  acres  of  tea  considered  in  fully 
bearing,  viz : — 
in  Uda  Pussellawa — 
St.  Leonards 
726 
acres. 
238 
Liddesdale 
814 
t) 
140 
Plskdale 
240 
208 
Gordon 
386 
)) 
154 
Tulloes 
419 
>» 
165 
in  Up.  Maskeliya — 
Gouravilla 
&Up.  Cruden 
1 705 
1» 
614 
acres.  Tea  bearing. 
)) 
»» 
There  are  also  160  acres  Tea  in  partial  bearing,  and 
some  601  acres  in  addition  planted  with  Tea.  On 
St.  Leonards,  Liddesdale,  Gordon  and  Tulloes  Estates 
there  is  still  a certain  amount  of  Coffee  interspersed 
through  the  Tea. 
Mr.  Rorert  Kay-Shuttlkwortu,  the  Director  who 
retires  by  rotation,  being  eligible,  offers  himself  for 
re-election.  By  Order,  A.  Traeford  Brooke,  Secretary. 
25,  Fouchurch  Street,  London,  31st  March,  1897, 
