Jan. I, 1898.] THE TROPICAL AGRICULTURIST. 463 
THE CEYLON GENERAL TEA ES- 
TATES, CO, LTD. 
Tills Company has just been floated principally 
through the agency of Messrs. W. H. Davies & 
Co. , to acquire, we believe, the following estates 
Estate. 
Penrith 
Logan 
Verulupitiya 
Weymouth 
Sirisande 
Stinsford 
Ivies 
Hemingford 
Bovillae 
Alnoor 
Glanrhos 
Eaglesland 
Clontarf 
Attabagie Group 
Orion Group 
Hatale . 
Kuruwilla 
Benveula . 
Clova-Sana 
Gonamotava 
Berragalla 
<s 
District. .S 
'a 
Kelani Valley 361 
202 
175 
110 
„ 
148 
1 300 
‘ 220 
142 
221 
Ealutara 
ll71 
n 
1 
»> 
195 
Pussellawa 
350 
Gampola 
274 
Kallebokka 
434 
Matale 
54 
159 
Kuruwitte 
^ 112 
Haputale 
234 
>» 
225 
Acres . . 4,087 
ci 
o 
03 
IS 
(D 
<D 
O 
d 
to 
a 
<D 
'S 
p 
CD 
fH 
79 
368 
808 
36 
50 
288 
90 
160 
425 
105 
81 
296 
42 
77 
267 
86 
52 
438 
30 
175 
425 
35 
20 
197 
97 
188 
506 
214 
109 
494 

50 
245 
155 
767 
1.272 
135 
94 
503 
13 
599 
104& 
54 
100 
208 
72 
144 
375 
— 
344 
456 
200 
179 
110 
119 
1 ],067 
,622 3,607 9,316 
Under Tea 
Reserve 
Cofiee 
. . 5,709 
. . 3,607 
143 143 
Total Acs. (about) . . 9459 Acs. 9,459 
Share capital, £400,000 ; divided into 40,000 six 
per cent, cumulative preference shares of £5 each 
£200,000 (which are preferential as to capital as well 
as dividend) ; 40,000 ordinary shares of £5 each, 
£200,000; and 1,400 five per cent, first mortgage 
debentures of £100 each, £140,000. 
Peesent Issue. — 27,000 preference shares, £135,000; 
23,000 ordinary shares, ill5,000 ; 1 ,400 first mortgage 
debentures, £140,000. 
The purchase price to be paid by the Company 
for the above Estates, free of encuinbrances, has 
been fixed by The Malabar Company,’ Limited, who 
are the Vendors, and are selling at a profit, at 
£363,500, payable as to £45,000 in fully-paid Pre- 
ference Shares, as to £38,330 in fully-paid Ordinary 
Shares and as to £280,170 in cash, leaving the 
sum of £26,500 for Working Capital, which is con- 
sidered quite sufficient. In part payment of the 
purchase price the Vendors have agreed to take 
one-tbird of the present issue of both Ordinary 
and Preference Shares, which is the limit allowed 
by the rules of the London Stock Exchange. The 
Vendors will discharge all outgoings belonging to 
the season 1896-97 in respect of the Gonamotava 
and Berragalla Estates up to the 1st day of Sept , 
1897, and in respect of the other Estates up to 1st 
October, 1897, from which respective dates the 
Company will take possession and will be entitled 
to the profits. The Vendors will pay all expenses 
of and incidental to the formation and registration 
of the Company up to the first general allotment. 
Auditors. — Messrs. Broads, Paterson & Co., 
Chartered Accountants, No. 1, Walbrook, E.C. 
Solicitors. — Messrs. Harwood & Stephenson, 31, 
Lombard Street, London, E.C. 
Brokers. — Messrs. W. I. Carr, Sons & Tod, 2, 
Royal Exchange Buildings, E.C. 
Bankers. — The Commercial Bank of Scotland, 
Limited, 62, Lombard Street, London, E.C. Head 
Offices, Edinburgh, and Branches ; National Bank of 
India, Limited, 47, Tbreadneedle Street, London, E.C. 
57 
Agents in Ceylon.— Messsrs. Carson & Co., Co- 
lombo. 
Managing Agents and Secretaries. — Messrs. 
Rowe, White & Co. and Registered Offices of the 
Company, 16, Philpot Lane, London, E.C. 
For the past season, the crop is re- 
turned by the Estate Inspectors 
or the owners at . . . . lb. 1,896,917 of tea 
The production for the current 
season is estimated by the Estate 
Inspectors or the owners at . . 2,361,900 ,, 
The large increase in the esti- 
mated crop for 1897-98 is due partly 
to the acreage of young Tea that 
will come into bearing, and partly to 
the natural rate of increase in the 
Tea in bearing though not yet fully 
matured. 
The Directors believe that when 
all the young Tea is in full bearing 
the yield should, on very moderate 
estimate, be . . . . . . „ 3,065,800 ,, 
From a careful consideration of the figures 
given in connection with the Estates, the 
Directors consider that the following cal- 
culation is a reasonable one. 
For the current year, taking the Tea at 
the moderate average selling price of 7id 
per lb., and the cost thereof laid down in 
London at 5d per lb. at an exchange of Is 
4d per rupee the net profit of 2 Jd per lb. is the 
result. This on a crop of 2,361,900 lb. is 
equal to . . . . . . £24,603 
The profits from the sale of Tea 
Seed are estimated at. . 2,500 
„ „ Cofiee „ .. 2,686 
„ „ Tea bought and manu- 
factured for adjoining Estates are 
estimated at . . . . . . 1,700 
Giving a total of 
The interest on £140,000 deben- 
tures at 5 per cent will absorb . . £7,000 
Dividend on £135,000 preference 
shares at 6 per cent, will absorb . . 8,100 
London expenses, estimated at .. 1,250 
£31,489 
£16,350 
Leaving available for dividend on the 
ordinary shares .. .. .. £15,139 
which, it will be seen, is sufficient to pay 10 
per cent on the present issue, and leave a balance 
available for Reserve, &c. 
It will be observed that a strong feature in this 
undertaking is the large proportion of young tea, 
which, each successive year, should bring increas- 
ing profits to the Shareholders, and that there is 
also an ample reseive of land for further exten- 
sions. There is also a steady business in the sale 
of tea seed from the Clova-Sana Estate. 
AN ECONOMICAL MOTOR FOR TEA 
I 'TORIES. 
The followii ; , copy of a report from Fair- 
field estate to Mtssi s. Davidson & Co. : — 
Cost of working ha// a cent per lb. of tea made. 
A report has recently been received by ns regard- 
ing the cost of working a Tangyes patent eight horse- 
power oil-engine supplied to Fairfield estate, Peer- 
maad. South India. The trials of the engine, which 
extended over a period of three months were carried 
out under the supervision of the Superintendent of 
the estate, and the figures here quoted have been 
authenticated by him. 
The engine is a Tangyes’ eight horse-power engine, 
and the oil used is ordinary Russian “Daylight,” 
the contents of one case (two tins) being about 65 lb. 
oil say nine gallons. 
This oil was purchased at Alleppey, and had to 
be transported to the estate for 12 miles by boat, 
and about 60 miles by bullock cart, a total distance 
of about 72 miles, the cost of which is included in 
the figures below. The total cost of oil consump- 
