June  X,  T897] 
THE  TROPICAL  AGRICULTURIST. 
861 
acreage,  as  shown  in  the  December  Estate  Reports, 
now  stands  as  follows : — 
Lunngalla 
Udahem. 
follows 
Tea  in 
bearing 
228 
1-10 
Notin  New  Tea* 
bearing,  clearings.  Coffe.  Coffee 
47 
59 
Cabragaila 
120 
Poonagalla 
117 
605 
Ravines 
and 
Waste. 
Lunugalla 
17 
Udaheua 
10 
Cabragaila 
17 
Poonagalla 
44 
The  total 
crops 
63 
2.3 
110 
196 
.Jungle 
and 
Patna. 
363 
.322 
613 
1293 
13 
119 
Fuel 
Trees 
40 
19 
10 
7 
76 
69 
30 
30 
48 
10 
25 
25 
129 
108 
Nnr-  Total 
series. 
8 820 
. . 653 
225 
3 888 
11  2586 
ot  tea  ana  uusiieis 
cwts.  2 qrs.  8 lb  as  shipped)  against  Estimates  ot 
200,000  lb  . and  1,230  bushels  respectively.  As  coffee 
will,  without  doubt,  before  very  long  cease  to  be  a 
souuce  of  revenue  to  the  Company,  the  Directors 
have  thought  it  expedient  to  instruct  their  Mana- 
gers to  plant  tea  under  all  the  coffee  on  the  Coni- 
pany’s  Estates,  so  that  when  the  latter  product  dies 
out,  as  seems  inevitable,  the  former  may  be  well  on 
on  its  way  to  supply  its  place.  Where  desirable, 
the  Managers  have  been  instructed  to  apply  stimulat- 
ing manure  to  such  of  the  coffee  as  appears  to  warrant 
a moderate  expenditure,  with  a view  to  obtaining  in 
the  meantime  the  most  that  can  be  secured  from 
the  trees.  The  Directors  have  recently  had  satis- 
factory Reports  on  the  Estates  from  Mr.  A.  T.Ilettie. 
The  properties  appear  to  be  in  good  heart,  and  the 
Board  have  authorised  the  erection  of  wire  shoots 
where  necessary,  recognising  that  any  labour-saving 
appliances  are  very  desirable,  and  tend  to  economy 
ih  working  the  Estates.  The  first  of  these  shoots 
has  been  successfully  erected  betweenii  Udahenaaud 
Lunugalla  Estates,  and  is  working  in  a very  satis- 
factory manner. 
HIGHLAND  TEA  COMPANY  OF  CEYLON. 
BF.POKT  OF  THE  BOARD  OF  DIRECTORS 
To  be  presented  to  the  Shareholders  at  tlmir  I irst 
Annual  Ordinary  Meeting  to  be  held  at  the  Office  of  the 
Company,  16,  Philpot  Lane,  London,  B.C.,on  Wednes- 
day, 28th  April,  1897,  at  .3-30  p.m.  The  Directors  have 
pleasure  iu  submittiug  to  the  Shareholders  the  Ueporfc 
and  Accounts  of  the  Company  for  the  year  ending 
31st  December,  1896.  The  Company  was  incorporated 
on  the  6th  April,  1896,  and  the  Prospectus  issued  on 
the  11th  of  that  month,  when  the  Shares  offered  for 
public  subscription  were  largely  over  applied  foi.  As 
mentioned  in  the  Prospectus,  the  Estates  were  taken 
over  by  the  Company  as  from  1st  January,  1896,  aud 
the  Accounts  now  presented  therefore  cover  a period  of 
twelve  mouths.  , 
The  not  profits  for  the  year  amount  to  ±2,9Ut)  4s.  3d., 
which  it  is  proposed  to  appropriate  as_  follows 
Amount  as  above  £2,905  4 3 
above 
An  interim  dividend 
of  4 per  cent,  (free  of 
income  tax)  paid  in 
September  absorbed 
It  is  now  proposed  to 
pay  a final  dividend 
of  3 per  cent,  (also 
free  of  income  tax), 
making  7 per  cent, 
for  the  year,  amount* 
ing  to 
To  w'rite  off  half  the 
preliminary  expenses 
£1,280  0 0 
960  0 0 
261  1 10 
2,501  1 10 
Leaving  a balance  caiX,i  forward 
to  uex  account  . . 2 5 
The  total  Crop  secured  during  the  year  anior.nted  to 
195,0201b.,  being  about  357  lb.  per  acre  over  tie  Tea- 
producing  area  of  the  two  Estates,  an  aver.nge  which 
the  Directors  hope  to  see  considerably  increased  in  the 
near  future.  No  acquisitions  have  been  made  since 
the  Company  took  over  the  Properties,  and  the  total 
acreage  therefore  remains  as  stated  iu  the  Prospectus. 
The  Directors  have  arranged  with  Mr.  R.  C.  Grant,  of 
Yuillefield,  to  visit  and  report  on  the  Company's 
Estates  once  a quarter.  His  last  visits  to  tho  Pro- 
perties w'ere  early  iu  February  when  he  was  able  to 
report  that  all  Estate  Works  were  being  ca,rried  on  in 
a satisfactory  and  efficient  manner.  A ne.w  Bungalow 
will  be  erected  on  Chrystler's  Farm  Estate  during  the 
current  year,  tliis  being  a very  necessary  addition  to 
the  Est.ate  Buildings,  whicli  vras  foreshadowed  in  the 
Prospectus.  In  accordance  with  the  Articles  of 
Association  the  Shareholders  will  be  invited  to  fix  a sum 
for  the  Directors’  remuneration. 
r For  report  of  tho  Eastern  Produce  and  Est  i tes  Co. — 
see  Notes  from  the  Metropolis,  2nd  page. — Ed.  7'.J.] 
THE  KEL.ANI  VALLEY  TEA 
ASSOCIATION,  LIMITED. 
The  eleventh  annual  ordinary  meeting  of  the 
Kelani  Valley  Tea  Association,  Limited  was  held 
at  the  office  of  tho  Company,  16,  Philpot  Lane.  E.C., 
on  Tuesday,  April  13,  1897  at  twelve  noon,  Mr. 
G.  "W.  Paine  in  the  chair. 
Before  proceeding  with  the  business  in  hand  Mr. 
Paine  said  that  at  the  desire  of  the  board  he  took 
the  first  opportunity  of  expressing  their  great  re- 
gret at  the  recent  death  of  Mr.  John  Anderson, 
their  late  secretary  aud  colleague,  and  practically  the 
founder  of  the  Company,  aud  after  some  sympathe- 
tic remarks,  concluded  by  proposing  that  a vote  of 
sympathy  be  accorded  to  the  family  of  their  late 
friend,  which  was  seconded  aud  carried  unanimously, 
the  secretaries  being  desired  to  convey  theresolntiou 
to  the  family. 
Notice  convening  the  meeting  having  been 
read,  and  the  report  and  accounts  having  been 
taken  as  read,  the  chaiimaii  then  alluded  to 
the  report  as  not  being  so  favourable  as  pre- 
vious reports  had  beeu,  aud  dealt  with  the 
reasons  given  iu  the  present  rejiort  for  the  shrink- 
age of  profits  as  compared  with  those  earned  in  1895. 
He  mentioned  that  in  addition  to  the  loss  of  profit 
occasioned  by  a higher  rate  of  exchange  aud  a lower 
market  for  their  teas,  there  had  been  a further 
leakage  caused  by  an  error  of  judgment  on  tlie  part 
of  their  manager,  Air.  Mitchell,  in  entrusting  the 
manufacture  of  Degalcssa  Tea  to  an  assistant  with 
not  sufficient  experience,  an  unfortunate  accident 
which  the  directors  took  immediate  steps  to  correct 
as  soon  as  the  c it  or  was  discovered. 
The  Chairman  then  stated  that  the  loss  of  revenue 
had  practically  occurred  during  the  last  half  of  tho 
year,  for  when  the  accounts  were  made  up  in  Septem- 
ber for  the  purpose  of  declaring  an  interim  dividend, 
the  profits  then  apparent  showed  a return  on  the  capital 
of  about  20 per  cent,  per  annum,  without,  however,  de- 
ducting the  usual  percentage  for  depreciation.  The  in- 
creased expenditure  over  that  incurred  in  1895  was  due 
he  said  to  the  cost  of  manufacturing  the  extra  crop 
of  40,960  lb.  of  tea,  to  manuring  200  acres,  and 
as  before  mentioned,  to  the  higher  rate  of  exchange* 
In  order  to  let-.son  the  amount  of  Mr.  Mitchell's 
work  and  responsibilities  the  diretors  had  given  in- 
dependent  ch.argc  of  Weregalla  and  Tarusella  to  their 
sub-manager,  Mr.  Wyncss,  and  they  had  eveiy  hope 
that  the  new'  arraugemtnt  would  be  fjr  the  benefit 
of  the  company,  and  with  a view  of  saving  tho  cost 
—already  a severe  item— of  firewood,  the  directors 
had  secured  50  acres  of  land  n-.  nr  the  river  where 
a new  factory  for  Wcrcagalhi  and  Parusella’ was  to 
be  erected,  which  would  be  worked  to  a great  ex- 
tent by  water  power,  and  thus  reduce  expenditure 
on  fuel. 
The  chairman  then  intimated  that  either  he  or 
Mr.  Porter,  the  managing  director,  would  be  pre- 
