51 
July i, 1897.] THE TROPICAL 
The Directors have pleasure in submitting to the 
Shareholders the accounts and Balance-sheet for the 
year ending 31st December, 1896. 
The net profits for the 
year amount to £8,976 15s. 6d. 
to which has to be added 
£852 13s. 9d. brought forward 
from £ s d. 
last Accounts, giving a total 
sum to be dealt with of . . 9,829 9 3 
An interim dividend on 
the Ordinary Shares of 5 
percent (free of Income Tax) 
paid in September, 1896, 
absorbed . . . . 2,050 0 0 
Dividends on the 7 per 
cent Preference Shares 
have also been paid amount- 
ing to . . . . 630 0 0 
It is now proposed to 
pay a final dividend on the 
Ordinary Shares of 10 per 
cent (free of Income Tax), 
making 15 per cent for the 
year . . . . 4,100 0 0 
To add to Eeserve Fund 
(raising it to £7,000) 1,000 0 0 
And to write off for depre- 
ciation on Buildings and 
Machinery . , . . 797 2 0 
— 8,577 2 0 
Leaving a balance to carry forward to next 
account of . . . . £1,252 7 3 
Satisfactory as the above results are, they would 
have been even more so, but for the higher rate of 
exchange current during the latter part of the year. 
The Buildings and Machinery on the Company’s 
Estates are in efficient order, but the Directors think 
it advisable to continue the policy of writing down 
their cost, and the amount appropriated for this pur- 
pose represents 10 per cent on their value as it stands 
in the books on 31st December. 
The total crop secured from the Company’s pro- 
perrties during the year amounted to 720,200 lb. 
being 48,200 lb. over the estimate and 52,151 lb. 
more than the previous year’s out-turn, which the 
Directors consider a satisfactory advance. In addi- 
tion to the foregoing, 170,764 lb. of tea were manu- 
factured for others, giving a total output from the 
Comptny’s Factories for the year of 890,964 lb. made 
tea. The average yield per bearing acre was 422 
lb. against 433 lb. for 1895, the difference being due 
te the fact that young tea on Lonach estate is 
now classed as “ hearing ” although it has 
not yet attained full maturity. The average 
price realized for the tea sold in the 
London market was 8‘860d. per lb., shewing a frac- 
tional reduction from the figures given in last report. 
The total acreage of the Company’s estates remains 
unaltered at 1,963 acres, including 1,544 acres in full 
bearing, 163 acres in partial bearing, and 13 a,cres 
planted during the year, or a total of 1,720 acres 
under tea cultivation. 
The Ceylon manager, Mr. Kerr, who resumed charge 
of the Company's affairs in Ceylon on 1st February, 
reports that the estates are all in excellent order, 
and his estimates for the current year point to a 
continuance of satisfactory returns. During Mr. 
Kerr’s furlough Mr. G. M. Ballardie kindly under- 
took the temporary management in Ceylon, and the 
thanks of the Board are due to that gentleman for 
the able manner in which the Company’s interests 
were looked after by him during his tenure of the 
post. The Directors have also much pleasure in 
again expressing their appreciation of the services of 
the Company’s staff, both in Ceylon and London. 
In accordance with the Article of Association, 
Mr. H. L. Forbes retires from the Board, and, 
being eligible, offers himself for re-election. The 
Shareholders will also be invited to express their 
approval of the appointment of Mr. George Gray 
Anderson to a seat on the Board. As provided in 
Company’s Articles a Resolution to oaiTy this into 
AGRICULTURIST. 
effect will be submitted at the Meeting. Mr. J. B, 
Laurie, C.A., offers himself for re-election as Auditor, 
an appointment w'hich the Shai'eholders will be asked 
to confirm. 
THE TEA ENTEIIPKISE IN TRAVANCORE, 
CEYLOX MEN IN THE DISTRICT. 
“ Mr, Forbes L aurie’s Company own a lot of places,” 
said Mr. Deane, in reply to another question. “ Mr. 
Buxton Laurie, v;ho is well-known in Ceylon, is in 
charge of the group, and he has another Ceylon man, 
Mr. Slowcock, and others to assist him. They have 220 
acres of new clearings — the best-opened land I saw in 
the district. It has been exceedingly well done. 
Amongst others who are known in Ceylon there is Mr. 
Imray; and he has lately imported two planters froru 
Ceylon to work his places. Mr. Wood, formerly of St, 
Andrew’s in Ceylon, is P. D. on the Mount and Mr. 
Plaice, who was also on St. Andrew’s, is onMunjamally, 
and Mr. Imray told me they were endeavouring to get 
two more men from Ceylon, so ihat the district is 
gradually filling up. No, I have so far not had a 
Ceylon man on the Stagbrook group, but I have beep 
looking out for one, and now have practically concluded 
arrangements with a planter who will suit me, and 
who will relieve Mr. Holden, who was very kindly 
lent me temporarily.” 
TEA AND COFFEE. 
“The tea is magnificent, and is doing splendidly, 
and I saw a very fine field of coffee belonging to Mr 
Goldie, also an old Ceylon planter. He has a capital 
field of coffee at a place called Pakanam. It is under 
grevillea shade, and looks as it would give five or six 
cwts. an acre. It is coffee Arabica, and it is about 6 
years old, for it was just being planted when I was 
last in Travancore. I think Mr. Goldie got 30 tons off 
it last year, which was not bad for an estate of 150 
acres. One hears a lot of the difficulties of transport, 
and the consequent enhancement of cost, but even 
now you can get tea put on board ship for 12 annas 
a chest. The average cost of tea as far as I could 
make out was 3| annas — that was the average on all 
the estates in Peermaad, f.o.b., and it is very reason- 
able. As regards the question of transport, I may say 
that I was told that the Travancore Government have 
voted three lakhs for a road from Kotium to Monde- 
Kaiam, at the foot of the ghaut, a distance of about .50 
miles. There is a cart-road there at present, but this 
money had to be voted for improving it, and the 
Government advertised for local tenders, but had 
got none by the time I left. As regards the tea itself, 
to prove what can be done with a properly-equipped 
factory, Mr. Buxton Laurie shewed me his accounts 
for the past year, and in every month but one he had 
beaten the Ceylon average, and in the one month he 
failed to do so he was only about a farthing below, 
I like the tea produced there very much ; it is a good 
high grown tea and has a vey hilly flavour.” 
A BOOM IN FACTORIES. 
“ Where Travancore has hitherto been backward has 
been in not having proper factories, Until lately 
there was hadly a decent factory in the district, but 
Mr. Imray has a magnifi'-ent factory now being built ; 
Mr. Forbes Laurie has a nice factory ; and Mr. Ack- 
worth, Chairman of the Planters’ Association, has a 
very good one, and he got very good prices last year. 
He has also some of the finest seed- bearers I have 
ever seen, and anyone wanting seed had better get it 
through him. He has 60 acres of seed-bearers — once 
removed indigenous, and I have ordered some from 
him. He is fully booked for this year, now, but next 
year he expects to have 400 maunds, and I advise 
anyone to book with him as the price is reasonable, 
and the seed excellent. My factory on Stagbrook has 
hitherto had only hand power, but I have just ordered 
a lot of machinery from Davidson’s for the place. 
Still, with the hand machinery I made 120,000 lbs. of 
tea this year 1 One thing I may tell you in this con- 
nection. It is the exception to find a factory without 
on oil-engine. The Tangey and the Dickson- Ackroyd 
patterns being most popular, and in no case have" I 
heard a complaint about them, while they work easily 
and inexpensively. I have ordered one myself. — ■ 
Mr. H. D. Deane to “Local Times.” 
