259 
Ocf. I, 1897.] THE TROPICAL AGRICULTURIST. 
Therefore it behoves those who handle to see that the 
re-packing at the warehouseis carried outunder the best 
possible conditions, so far as the public are con- 
cerned. It would be awkward for the wai'ehouse 
authorities if the consumers of tea were to couple 
the economic phase of the question with another 
reason when they demand, as they may do before 
long, the abolition of the tea duty. It would be a 
factor in the situation that v/ould certainly count 
with the public if all the facts as to the present 
methods of repacking tea before it finds its way into 
the hands of the dealers were known, and saw the 
light in the guise of a new sensation. We have no 
desire to exaggerate the details, nor do we hold a 
brief for the consumer in the matter. We merely 
call the attention of those concerned to the com- 
plaints of tea growers on the subject, and accompany 
the notice with a hint that the matter well deserves 
attention before it enters, as it may do, on an acute 
and unpleasant stage.— i?. and G. Mail, Aug. 6. 
THE CONSOLIDATED TEA AND LAN DS 
COMPANY, LIMITED. 
The first ordinary general meeting of the share- 
holders of this Company was held on 30th ultimo, in 
the Accountants' Hall, Glasgow, Sir John Muir, Bart, 
presiding. 
PEOFIT.s. 
The Chairman said We have much pleasure in 
submitting to you the accounts of the past season, 
which show a credit balance, exclusive of profits 
made in sales of land, of £112,228, or .£18,252 more 
lhan the average profits in the prospectus. Over and 
above this profit made on tea-trading we also show 
a profit made on the sale of the Travancore property 
of £63,162 4s or altogether a profit for the year of 
£175,380 19d. This enables us to pay dividends at 
the raite of 5 per cent, and 7 per cent, on the prefer- 
ence shares of both classes, to pay the interest due 
to the vendors, to propose a dividend of 10 per cent, 
on the ordinary shares, to pass £65,000 to a reserve 
fund, and to carry forward to next year £14,236 5s 
4d. These figures speak for themselves, and I need 
not detain you further on the subject of the accounts. 
During the year under review we have added 4,827i 
acres to the area of cultivation, and we are engaged 
in opening up a further area of 4,337 acres during 
the current year. You will observe that our crop for 
1896 show a substantial increase over the previous 
year, and so far as we can gather from the advices 
from the estates, this quantity will be again in- 
creased in the current year. The new extensions 
consist not only of tea, but of coffee, cocoa, coconuts, 
and india rubber. We wish to encourage the growth 
of these products other than tea as much as possible, 
so as not to have all our eggs in one basket. In ad- 
dition to this, the tea extensions we are making are 
practically all on lands capable of producing high 
quality tea, such as Upper Assam and the Travancore 
Hills. We are sure this is a wise policy. We are not 
disposed at present to extend our area of medium tea, 
as we think it possible there may be in the future an 
over-supply of this class of tea, whilst we think the 
demand for the higher qualities of tea is likely to 
increase. 
OVEE-PRODUCTION. 
The Chairman of the Dooars Company has recently 
pointed out a possible danger to the tea industry in 
over-production, and this is, in our opinion, a real 
danger so far as concerns medium and common teas. 
On the other hand, everything points to the main- 
tenance of prices for really good quality teas, and 
these are the teas we intend specially to cultivate and 
to extend. Of course, increased production in medium 
teas may be met as heretofore by increased consumption 
and new outlets. China tea is now, however, almost 
entirely displaced in Great Britain, and consequently, 
unless energy is shown in opening up new markets, a 
glut of medium teas in the home market may arise. 
The subject of possible over-supply of medium teas 
is occupying our attention, and the remedies we are 
encouraging are : 1. Economy in working ; 2. Increased 
production of high quality tea; 3. The opening up 
of new markets. In regard to the lattei", I am pleased 
to tell you that this company has sold in the United 
States and Canada during the past year more than 
two million pounds weight. It may interest you if 
I give our figures of sales in previous years in these 
countries on account of the North and South Sylhet 
Tea Companies, Uimited, whose properties, including 
their American business, were acquired by this com- 
pany 1893, 707,200 lb; 1894, 1,288,147 lb; 1885, 
1,591,3241b; 1896, 2,099,784 1b; six months — 1897. 
1,665,044 lb. I think you will admit that this shows 
gratifying progress. 
PUSHING TEA IN RUSSIA. 
In addition to this I am glad to tell you we have 
recently made satisfactory arrangements for the 
pushing of British-grown teas on a large scale in 
Russia, and I hope at future meetings to report to 
yon encouraging progress in this direction. These 
statements will, I think, satisfy you that the Con- 
solidated Company is doing its duty in increasing in 
every legitimate way the opening up of new markets. 
THE EARTHQUAKE. 
As you are aware, a severe shock of earthquake 
passed over the tea disiricts last mouth, and fears 
were entertained, from the first account received, that 
the crop prospects for the year would be seriously af- 
fected by the damage done ; but lam glad to inform 
you that the picking of crop has not been stopped for 
a single day on any of the company’s estates, and 
energetic steps have been taken by the management 
to repair the damage done to bungalows, houses, and 
other buildings, so that we are able to report to you 
that the company has sustained no loss which cannot 
promptly be replaced, and, as already stated, we have 
suffered no loss of crop. 
AMALGAMATION. 
Regarding the sale of the North Travancore lands 
you are aware the company owned a large tract of very 
valuable high-country land in this district— more than 
it would have been possible for us to utilise profitably 
by ourselves. As foreshadowed in the prospectus, it 
was at first our intention to sell some of this land, or 
to form subsidiary companies for working pait of it. 
After careful inquiry, however, we came to the con- 
clusion that the introduction of outside elements 
would be detrimental to the company’s interests. The 
only alternatives, therefore, were either to create new 
capital and work the whole of it ourselves, or to com- 
bine with others for that purpose. "We felt, under all 
the circumstances, the latter would be the wiser 
course, and we accordingly came to an understand- 
ing with the Amalgamated Tea Estates Company (in 
which company most of the Consolidated Com- 
pany’s shareholders are interested) to work the whole 
of the Travancore lands or joint and equal 
account. To carry this out effectively a new com- 
pany was formed, called the Kanan Devan Hills Pro- 
duce Company, Limited, in which the two companies 
are the shareholders. The property was taken over 
from this company by the new company at a valua- 
tion arrived at by two experienced experts, Mr. W. 
Milne and Mr. L. Davidson, and the transaction 
showed a profit to the Consolidated Company of 
£63,152 4s. I have no doubt this powerful combina- 
tion will lead to better results than if we had en- 
deavoured to work single-handed. We have also 
entered into an arrangement with the East India «nd 
Ceylon Tea Company, Limited, to amalgamate the 
two companies’ interests in the Bambarabotua district 
of Ceylon. This will be done through the formation 
of the Hopewell Tea Company, Limited, in which 
this company will have a two-third interest, and the 
East India and Ceylon Tea Company, Limited, one- 
third. This amalgamation will lead to more profit- 
able working than if the two companies remained as 
active competitors in the same district. The pro- 
perties of both companies will be taken over at a 
valuation to be arrived at on September 15th, and 
the result will appear in the current year's accounts. 
I am satisfied we should in every way encourage 
