848 
THE  TROPICAL  AGRICULTURIST. 
18V)C,  a clistribntion  at  the  rate  of  8 per  cent,  for  the 
properties  011  31st 
year. 
The  acreage  of  the  Company’s 
December  last  was ; — 
Tea  in  fall  bearing 
Do.  in  partial  bearing. . 
Do.  under  two  years  old 
Do.  do.  one  ye  ir  old 
.Jungle  
510 
(57.V 
lOOi 
JG 
3G3.'i 
1,0574 
The  Directors  consider  the  result  of  the  year’s 
w .rking  to  be  on  th-o  whole  favourable,  having  regard 
to  the  serious  rise  in  exchange  and  the  somewhat 
lower  price  realised  for  the  Company’s  tea  during  t e 
year.  The  less  oocasioued  by  the  rise  in  exchange 
during  the  year  represents  over  "I  per  cent,  on  the 
Ordinary  Share  Capital  of  the  ('ompany.  The  fall  in 
prices  and  the  deficit  in  the  yield,  as  compared  with  the 
estimated  crop,  may  be  attributed  to  the  abnormal 
rainfall,  which  was  50  inches  over  the  average.  The 
crop  realised  for  1890  was  279,491  lb.,  as  against  an 
estimate  of  290,000  and  a yield  of  290,352  Ih.,  in  1895. 
’The  cost  of  tea  f.o.b.  Colombo  was  23J  cents  per  Ih. 
'Tlia  new  central  factory  is  now  approacliing  comple- 
tion, and  it  is  hoped  that  W'hen  in  working  order 
it  vvill  effect  an  improvement  in  the  ipiality  of  the 
tea  and  a reduction*  in  the  co.st  of  manufactme.  Tlie 
Interests  Deyiosits  stand  in  the  D.tlanco  Sheet  at 
.tT..520,  The.e  deposits  the  ('ompany  is  in  a position 
to  pay  off  out  of  part  of  the  profits  realiy.ea  on  the 
recent  sale  of  the  Dangegama  Estate,  and  they  have 
accordingly  given  notice  to  do  so  on  or  before  the 
30th  -June  next. 
HILL  TRAMWAYS  FOR  ESTATES 
IN  CEYLON. 
If  any  further  evidence  were  required  of  the 
unreUahlene.ss  of  the  Report  so  hastily  compiled 
by  the  so-called  Hill  Tramways  Commission, 
it  is  afforded  in  tlie  proceedings  at  a recent 
meeting  of  the  Udapussellawa  Planters’  A.sso- 
ciation."  If  tliere  was  on.e  line  more  than  another 
which  miglit  he  deemed  ripe  for  report,  owing 
to  ]i  evious  prolonged  investigation,  it  is  that 
of  'die  proposed  NTumoya-Nnwara-Eliya-Kanda- 
yiola  Tramway.  The  Commissioner.s  must  have 
had  .all  tlie  information  (■o!le^■ted  by  their  [ire- 
clccessors  before  them  ; and  yet  if  Messrs.  E.  15. 
Nicol  and  E.  J.  Rrown  .arc  to  be  relied  on— and 
their  Resolution  on  the  subject  w,as  carried 
unanimously— a very  large  jiortion  of  the  traflic 
of  the  districts  was  omitted  altogether  from  the 
Estimates  adopted  by  the  Commission  ' This  is 
scarcely  credible- -and  we  have  not  time  as  we  write 
to'  verify  the  charge  propounded  liytlie  Udapu.ssel- 
lawa  planters  ; but  if  it  liolds  good,  of  course  the 
Commission’s  Rei»orl  falls  to  the  ground  as  woi  th- 
le.ss  : wliileif  onr  Udapussellawa  frieml.s  sliould  he 
mistaken,  it  would,  at  least,  show  a great  want  of 
clearness  in  compilation  when  such  an  almost 
nn])iecedenled  charge  could  be  formulated.  The 
iilaiiteis  alle.ge  that  all  the  Niiwaia  Eliya 
trallic  is  ouiitted  and  also  the  trallic  of  the 
Nuwara  EUya  and  K.aiidapol.a  estates  ! If  this 
can  really  he  demonstrated,  it  must  prove  f.atal 
to  I he  ’Commission’s  Report  which  had  then 
better  he  laid  on  one  side  for  correction  and 
revision  generally. 
Revision  is  the  more  ncce.ssary  ; because  it  is 
evident  that  several  other  districts  have  had  less 
than  justice  done  to  them.  We  our.selve.s  hold 
tlir  ('ommissioners  to  ho  too  hasty  in  coMdenmitig 
offhand  the  Peradeniya-Deltota-llewiiheta  Tram- 
way. R I**-!''  '*'*  existing  road  .as  far,  at  any 
rate"  as  a central  ))oiiit  like  Deltola  itself,  it 
shonlil  show  a renmnerative  margin.  Now,  again 
we  have  the  report  of  proceedings  held  by 
[June  i,  1897. 
residents  in  tlie  Northern  Districts  meeting  at 
Teldeniya  and  they  make  out  a very  fair  prima 
fade  case  for  reconsideration,  although  the  Com- 
mi.ssion  was  in  too  great  a hurry  to  wait  for 
their  information.  Delay  in  this  case  is  ac- 
counted for  by  the  .scattcreil  nature  of  the 
districts  coiieenied.  This  Northern  or  North- 
Eastern  road  tramway  is,  perhaps,  one  of  the 
most  promising  yet  propounded  ; and  altogether, 
we  trust  the  Covenior  will  see  his  u’ay  in  due 
season,  to  reopen  the  Enquiry  and  afford 
an  opportunity  for  a m<sre  careful  and  correct 
Report  on  the  subject  of  Hill  Tramways. 
A TEA  COMPANY  AM ALC AMATION. 
We  observe  that  meetings  of  shoreholders  of  the 
Nedeem,  Kumai,  Cheng  mari,  Rainlhari  and  Toorsa 
Tea  Companies  have  been  convened  for  the  15th 
instant  with  a view  to  sanctioning  their  transfer  to 
a London  Company  to  he  formed  witli  a capital 
of  LM00,0()O,  of  which  only  .fi3(i0,00()  will,  in  the 
first  instance,  lie  called  up.  The  capital  of  tlii.s 
Comp.iny  will  he  divided  into  two-thirds  5porcent. 
ciimiilativo  preference  and  one-thinl  ordinary  shaies 
J’lie  properties  to  be  taken  up  are 
Total 
Area 
area. 
under 
Price. 
plant. 
Nedeem 
3,781 
2,018 
245,000 
Chengmari 
6,188 
1,432 
9 joOO 
Kumai 
2,089 
656 
36j000 
Baintbari 
910 
383 
12j00O 
Dalgaon 
2,200 
1,001 
sojooo 
Toorsa 
8,288 
535 
25,000 
23,456 
6,025 
338,000 
Working  capital 
22,000 
£360,000 
In  addition  to  the  (>,025  acres  under  cultivation,  a 
further  extension  of  1,025  acres  is  contemplated’  in 
1897,  and  it  is  estimated  that  a further  5,000  acres 
are  available  for  planting.  The  price  to  be  paid 
works  out  £56  per  acre  under  tea.  The  profits  from 
the  Nedeem,  Chengniaii,  Knmai  and  Baintbari  Com- 
jianies  for  the  last  three  years  have  been  : — 
R 
1894  . . . . . . . . 298,011 
1895  . , . . . . . . 234,278 
1890  ..  ..  ..  ..  271,937 
which  have  been  divided  in  dividends  and  applied 
to  extensions.  The  Nedeem  Company  has  paid  a 
dividend  of  20  per  cent  some  years  past,  and  is  con- 
sidered one  of  the  finest  gardens  in  the  Dooars. 
Taking  exchange  at  Is  3d.  the  amount  required  to 
pay  the  preference  dividend  on  the  new  company 
will  he  R192,000  so  that  it  will  be  seen  that  these 
shares  are  amply  secured.  The  amount-  to  be  paid 
for  each  garden  works  out  per  share  about  as 
under : — 
R 
Nedeem  ..  ..  gqg 
Chengmari  . . . . . . . . 310 
Kumai  . . , , . . _ _ 3j;.j 
Baintbari  . . . . . . , _ 
These  figures  compare  favourably  with  present 
prices  here.  The  new  Company  will  he  called  the 
Nedeem  Tea  Company  and  should  be  a most  suc- 
cessful one.  Amalgamation,  such  as  these,  are  steps 
in  the  right  direction  in  the  tea  industry.  The 
reserve  capital  of  £40,000  is  intended  to  he  applied 
to  developing  tho  I)  ilgaon  and  Toorsa  coiie'uma 
Tao  present  shareholders  will  iiavo  the  right  of  re- 
taining one-third  of  their  interest  if  they  desire  to 
do  so— Cii/nfal, 
