June  i,  1897.J 
THE  TROPICAL 
AGRICULTURIST. 
825 
THE  MAYFIELD  (DIMBULA)  TEA  CO.  OF 
CEYLO>J,  LIMITED. 
Capital  ;£  100,000,  in  5,000  6 per  cent  cumulative 
preference  shares  of  .£10  each  (which  have  priority 
as  to  capital  and  dividend),  and  5,000  ordinary  shares 
of  £10  each. 
Present  issue — 3,300  per  cent  preference  shares,  and 
3,300  ordinary  shares  of  £10  each. 
The  purchase  of  the  followiug  tea  estates  has  been 
arranged,  viz. : — Mayfield  and  Chalmers,  situated  in 
the  Dimbula  district,  and  the  Nicholaoya  group, 
situated  in  the  Matale  district,  comprising  the  fol- 
lowing acreages  and  particulars  ; — 
Tea  over 
Tea  over 
Tea  not  yet 
Estates. 
five  years. 
three  years 
in  bearing 
Mayfield 
. . 404  Acres. 
12  Acres. 
— Acres. 
Chalmers 
..  260  „ 
— 
30  „ 
Nicholaoya 
..  312  „ 
87  „ 
48  „ 
676  „ 
99  „ 
78  „ 
Garda- 
Timber 
Estates. 
Tea  total. 
moms. 
planted. 
Mayfield 
. . 416  Acres. 
— 
36  Acres. 
Chalmers 
. . 290  „ 
— 
— 
Nicholaoya 
..  447  „ 
15  Acres. 
— 
1,153  „ 
15  „ 
36  Acres. 
Chena  and 
Total  acres 
Estates. 
Forest. 
Pataiia. 
of  estates. 
Mayfield 
. . 88  Acres. 
36  Acres. 
576  Acres. 
Chalmers 
..10  „ 
67  „ 
35/  ,, 
Nicholaoya 
..  400  „ 
409  „ 
1,271  „ 
498  „ 
502  „ 
2,204  „ 
Mayfield  and  Chalmers  are  taken  over  as  from 
the  1st  of  January  last,  and  Nicholaoya  from  the 
1st  of  July,  1896,  the  Company  taking  the  benefit  of 
the  produce  from  these  respective  dates.  The  pro- 
duction of  these  estates  for  the  current  season  is 
estimated  at  not  less  than  421,000  lb.,  which  with  the 
cardamons  may  be  expected  to  yield  a net  revenue 
of  £5,450.  As,  however,  there  are  177  acres  of  tea 
not  yet  in  full  bearing,  and  as  there  is  still  a con- 
siderable area  available  for  the  planting  of  tea,  the 
out-turn  should  be  considerably  increased  year  by 
year.  The  Company  will  acquire  the  three  estates, 
machinery,  and  buildings  for  the  sum  of  £63,000, 
the  price  fixed  by  the  Vendor,  which  is  considered 
not  an  exce'ssive  price,  considering  the  good  reputa- 
tion of  the  estates.  After  payment  of  the  purchase- 
money  there  will  be  left  the  sufficient  sum  of 
£3,000  for  the  general  purposes  of  the  Company. 
The  Vendor  pays  all  expenses  of  every  description 
down  to  allotment.  Taking  the  value  of  the  un- 
cultivated area  and  cardamoms  at  £5  per  acre,  and 
deducting  the  £3,000  for  general  purposes,  the  pur- 
chase price  of  the  area  under  tea  works  out  at 
about  £50  per  aci-e. 
EDERAPOLLA  TEA  COMPANY  OF 
CEYLON,  LIMITED. 
The  following  is  from  the  report  of  the  board  of 
directors,  to  be  presented  to  the  shareholders  at 
their  first  annual  ordinary  meeting  to  be  held  at 
the  offices  of  the  company,  16,  Philpot  Lane,  E.C., 
on  the  13th  inst : - . 
The  directors  have  pleasure  in  submitting  to  the 
shareholders  the  report  and  accounts  of  the  com- 
pany for  the  year  ending  December  31,  1896.  The 
company  was  incorporated  on  Noveffiber  29,  1895, 
and  the  prosnectus  issued  on  December  3,  when  the 
applications  received  for  shares  were  far  in  excess 
of  the  number  offered  for  public  subscription. 
Since  the  company  acquired  Ederapolla  and  Ardross 
Estates  sundry  native  lands  have  been  purchased, 
and  the  total  acreage  is  now  as  follows  Tea  in 
full  bearing,  471  ; partial  bearing,  81 ; not  in  bear- 
ing, 48  ; clearings,  87§ ; Jungle,  189  ; Paddy  Field, 
7 • Paddy,  and  Scrub,  lOJ ; total,  894.  The  total 
’ 105 
crop  secured  amounted  to  358,324  lb.  of  tea,  bein# 
48,324  Ib.  over  the  estimate,  and  the  average  yield  or 
the  two  estates  w'as  640  lb.  per  acre.  On  Ardross  11 
acres  and  on  Ederapolla  38i  acres  of  jungle  have  been 
felled  and  burnt  off  for  planting  this  year,  and  on 
both  estates  there  are  fine  nurseries  with  abundance 
of  plants  for  the  company’s  requirements.  The 
directors  have  had  very  satisfactory  reports  on  the 
estates  from  Mr.  Thomas  Smith,  of  Barnagalla,  who 
in  his  report  of  January  26  last,  writes  as  follows  : — 
“ I consider  the  estates  throughout  the  whole  year 
have  been  worked  to  the  very  best  advantage  under 
the  able  management  of  Mr.  Watt,”  and  it  affords 
the  directors  pleasure  to  endorse  and  confirm  the 
opinion  thus  expressed  of  the  services  of  their  general 
manager.  The  company’s  net  profit  for  the  year 
amounts  to  £2,795  15s  lOd  ; and  this  it  is  proposed  to 
appropriate  as  follows  ; — Amount  as  above,  £2.795 
15s  lOd  ; interim  dividend  of  5 per  cent  paid  in 
September,  £1,100.  It  is  now  proposed  to  pay  a 
final  dividend  of  5 per  cent  (free  of  income  tax,) 
making  10  per  cent  for  the  year,  £1,100,  and  to  write  off 
half  the  preliminary  expenses,  .£300  8s  Id ; leaving  a 
balance  to  carry  forward  of  £295  7s  9d.  In  accordance 
with  the  articles  of  association,  Mr.  G.  W.  Paine  re- 
tires from  the  board,  and,  being  eligible,  offers  himself 
for  re-election.  Messrs.  Cape  and  Dalgleish  also  offer 
themselves  f^r  re-election  as  auditors. — 11.  and  0.  Mail, 
April  2. 
BANDAKAPOLA  CEYLON  COMPANY, 
LIMITED. 
The  following  is  from  the  report  of  the  board  of 
directors,  to  be  presented  to  the  shareholders  at 
their  fourth  annusJ  ordinary  meeting,  to  be  held 
at  the  offices  of  the  company  on  Wednesday,  14th 
inst.; — 
The  directors  have  now  the  pleasure  to  submit 
to  the  shareholders  the  accounts  and  balance-sheet 
for  the  year  ending  December  31,  1896. 
The  net  profits  for  the  year  in  question  amount  to 
£2,438  3s  lOd,  to  which  has  to  be  added  £216  19s  4d 
brought  forward  from  1895  accounts,  giving  a total 
sum  to  be  dealt  with  of  £2,655  3s.  An  interim  divi- 
dend of  5 per  cent  (free  of  income  tax)  on  £16,000 
paid  in  September,  amounted  to  t‘800.  It  is  now  pro- 
posed to  pay  a final  dividend  of  5 per  cent  (also  free  of 
income  tax)  on  £18,500,  making  10  per  cent  for  the  year 
absorbing  £925;  and  to  write  off  for  depreciation 
on  old  buildings  and  machinery  £500 ; leaving  a 
balance  to  carry  forward  to  next  account  of  £4,30  3s  2d. 
During  the  past  season  the  crops  secured  from 
the  company’s  property  amounted  to  346,150  lb.  of 
made  tea  and  142  cwt.  3 qr.  13  lb.  of  cocoa,  as  against 
182,512  lb.  made  tea  and  80  cwt.  3 qr.  13  lb.  cocoa 
for  the  previous  year,  an  increase  which  the  directors 
considered  extremely  satisfactory.  The  price  realised 
for  the  tea  shows  a slight  falling  off  as  compare 
with  1895,  being  6'4.32d,  as  against  6’788d  per  lb. 
The  old  tea  on  Baudarapola,  286  acres,  gave  867  lb 
per  acre,  and  that  on  the  98  acres  of  Muendeniya 
land,  only  three  years  old,  and  raised  principally 
from  seed  at  stake,  has  given  718  lb.  per  acre  a 
phenomenal  return,  and  the  1895  planting  promises 
equally  well.  For  the  current  season  the  directors 
have  sanctioned  a further  clearing  of  about  50  acres 
to  be  planted  in  tea,  and  this  is  being  proceeded 
with  by  the  Ceylon  manager.  During  the  severe  rain 
storms  experienced  in  the  latter  part  of  1896  the 
foundations  of  the  wheel-pit  at  the  factory  were 
carried  away,  the  wheel-pit  subsiding,  and  the 
wheel  being  considerably  damaged.  'The  direo 
tors  are  glad  to  report,"  however,  that,  through 
the  energy  and  promptness  of  the  Ceylon 
manager,  the  damage  was  to  a great  extent  mini 
mised,  and  they  take  this  opportunity  of  recording 
their  appreciation  of  the  energy  and  capacity  for  over 
coming  difficulties  displayed  by  Mr.  Anderson  under 
very  trying  circumstances.  They  are  also  indebted 
to  the  managers  of  neighbouri.  g estates  for  their  kind 
assistance  on  that  occasion.  All  the  damage  has  been 
repaired,  and  the  erection  of  an  engine  and  boiley 
