50 
THE TROPICAL AGRICULTURIST, 
[July i, 1897. 
Superintendence . . . , 
Supplying 
Nurseries 
Weeding at 90 cents per acre per month 
Boads and Drains . . 
Buildings 
Tools . . . , 
Contingencies 
1,800 
100 
100 
1,080 
200 
100 
100 
250 
Cost during the 2nd year . , $ 3,730 
Ditto 3rd year exclusive 
of crop expenditure . . . . f 3,730 
Total cost at end of 3rd year . . $ 14,462 
In the foregoing estimate the cost of weeding has 
been taken at a safe figure. Mr. B. E. Walker 
opened 36 acres in 1896, and his weeding for the five wet 
months, October 1896 to February 1897, averaged 80 cents 
per acre per month and the older coffee on Taritpan 
Estate costs 55 cents on monthly contract. The 
item superintendence is a heavy one, but that would 
be less per acre as soon as a larger acreage is taken 
in hand. As the actual cost of living is not .more 
than one dollar a day for food, the intending planter 
may gauge his own personal expenditure on drinks, 
clothes, etc. The other items are based on the 
present cost of works in British North Borneo. 
The yield of crop in the 3rd and 4th year should 
pay for the crop buildings and machinery say a total 
of £200 to ,£300. Large stores are not necessary 
provided a small hot air drying shed be erected, in 
which the parchment can be dried in about 8 hours 
and be packed in bags and despatched the same day. 
The 5th year should give 5 cwts. and when the coffee 
is 6 years old the yield of coffee may be expected to 
be 7 cwts. per acre without manure, but with manure 
10 cwts. or even more may be expected. 
The expenditure on the estate on a crop of 7 cwt 
per acre should be less than thirteen dollars per cwt. 
and the London expenses including freight are nearly 
9 shillings per cwt., say at present exchange a total 
cost of about 35 shillings per cwt. As I have pre- 
viously stated, we find that the estate expenditure is 
becoming less each year, according as the laobur 
force becomes more skilled. 
IIIUHJ-AND TEA COMPANY OF CEYLON, 
LIMITED. 
The first annual ordinary meeting of this company 
was held on Wednesday, at the office of the company, 
16, Philpot Lane, E. 0., Sir George A. Pilkington 
(chairman of the board) presiding. 
Mr. J. F. Anderson (of Messrs. Lyall Andersen & 
Co., agents and secretaries), having read the notice 
convening the meeting, 
The Chairman said : I have now pleasure in moving 
that the report as presented to the shareholders be 
received and adopted. The report as produced by 
the secretaries is very complete and concisely 
put together, and the figures are so extremely clear 
that very little need be said. The proposed dividend 
of 7 per cent, is in these days, you will admit, a 
very satisfactory one, and you will see that we are 
writing off one-half of the preliminary expenses, and 
carrying forward £404 odd to the next year. Al- 
though 7 per cent, is a satisfactory return now- 
adays, I am bound to say we, as directors, are 
not by any means satisfied with it. We hope 
for very much better things. I don’t think the 
estate this year has done itself justice. Of 
course, against all estates there has been the 
unfortunate rise in the value of the rupee, which 
we think, however, will to some extent be done away 
with again before the end of another twelve months. 
But apart from this, the estates have not come up to 
expectation. They are amongst the finest estates in 
the island ; Glenorchy has without exception the 
finest tea bushes of any I have ever seen in my life. 
We expect better results both from the average 
crop and the prices realized. The result of the past 
year may be explained to some extent by the fact that 
the manager has been away from the estate on leave 
of absence home, and we know that nearly every tea 
district has the peculiarity that the manager who 
has lived a long time on the estate does better than 
a successor from another part of the island, who 
will not understand the particular requirements of 
the bush as well as the old resident. We reasonably 
hope for much better things another year. There is 
little more to be said, but whatever you wish to hear 
on the subject I shall be very glad to answer 
you, as I have within a comparatively recent 
time visited the estates, and I am, therefore, 
aware of their present condition. The only item 
of any importance outside the ordinary run of 
a balance-sheet and report is the fact that you have 
to fix the remuneration of the directors. That is a 
matter which we must leave entirely in your hands ; 
you are aware that under the articles of association 
it is to be fixed at the first annual meeting. I have 
pleasuse in moving, •' That the report as pre- 
sented to the shareholders be received and adopted.” 
Mr. G. G. Anderson seconded the motion, which 
Mas carried unanimously. 
The Chairman then moved, “ That a final dividend 
of 3 per cent, free of income tax, making in all 7 
per cent, for the year be declared payable forthwith.” 
This was seconded by Mr. Anderson and carried. 
Mr. Anderson proposed and Mr. C J. Scott seconded 
the re-election of Sir George Pilkington as a director 
— Carried. 
Mr. E. J. Marshall proposed and Mr. W. D. Camp- 
bell seconded that Messrs. Cape & Dalgleish be 
re-appointed auditors to the company. — Carried. 
Mr. Donald Andrew proposed, “ That the direc- 
tors shall receive for their services a sum at the 
rate of £200 per annum until the company tarns a 
profit of 15 per cent., and then at the rate of £300 
per annum.” lie observed that the labourer was worthy 
of his hire, and he was sure his motion would be 
received with hearty approval by all the shareholders. 
The affairs of the company were in capable hands, 
which in itself was enough to ensure success. 
Mr. A. Leslie seconded the motion, remark- 
ing that the remuneration proposed was very 
reasonable. He admired the chairman’s frank state- 
ment of the position of affairs, and only hoped that 
his anticipations would be verified. 
The motion was carried. 
The Chairjlan next proposed that a vote of thanks 
be accorded to the Ceylon and London stafis for 
the efficient working of the company’s property and 
business. He said they were well satisfied with thek' 
representatives in Ceylon. Mr. Nicol, upon Glen- 
orchy, was an old planter, and Mr. Fraser, on Chrys- 
tler’s Farm, was also one of the oldest planters in 
the Island. In both of them they had every reason 
to show perfect confidence. The staff at home had 
worked laboriously and honestly in the interests oj 
the company. 
Mr. Scott seconded the motion, which was carried 
A vote of thanks was passed to the chairman and 
directors of the company on the tnotiou of Mr. An- 
drew, seconded by Mr. Leslie. 
The Chairman, in acknowledging the compliment, 
said the directors would do all they could to develop 
what he believed to be one of the finest and most 
valuable properties in thelsland . — The Investors' Guar- 
dian, May 1. 

SCOTCH CEYLON TEA COMPANY, 
LIMITED. 
Directors : — H. Ir Forbes, Chairman, E.W. Forbes, 
Donald Andrew. Managing Director : H. L. Forbes 
Manager in Ceylon : David Kerr, Secretaries : Lyall, 
Anderson & Co. 
Report of the Board of Directors, to be presented 
to the Shareholders at their eigth annual ordinary 
meeting, to be held at the offices of the Company on 
Thursday, 13th May, 1897, at 12 noon. 
