Jan. Ij 1898.] 
THE TROPICAL AGRICULTURIST. 
497 
GENERAL CEYLON TEA ESTATES. 
The history of the tea enterprise of Ceylon has 
been one continued snocess, and, although the 
price of tea may fall, there are no grounds for 
anticipa'ing any alteration in the good profits now 
being made by well- opened estates. The company 
whose prospectus is before us has been formed for 
the purchase of some twenty-two different pro- 
perties in various well-known planting districts, and 
including upwards of 4,000 acres of tea in full 
bearing, 1,622 acres of young tea, and 3,600 acres 
cf reserve land. 
It may therefore be literally said that the company 
has its capital scattered over a thousand hills, and from 
the figures and estimates given there is room for a con- 
siderable increase in the profits as uniformity of 
management curtails working expenditure and young 
tea comes into full-bearing, which it does usually at 
the end of the sixth year. The estimates contained in 
the prospectus are based upon the experience of the 
past ten years by experts who are seldom greatly at 
fault, and the total amount available for dividend 
shows that a rate of 10 per cent, may be reasonably 
expected. A good feature about the company is that 
the land to be acquired ranges in elevation from what 
may almost be termed the low country, such as the 
district of Kalutara, to the elevation of 3,500ft. or 
4,000ft. orover in the higher portions of Pussellawa. 
With low country teas the planters get quantity, 
provided the rainfall be sufficient to induce a constant 
“ flush,” while for the tea grown in the upper districts 
they expect a smaller yield per acre, but a considerably 
higher price in the market. Apart from the shai'e 
capital the five per cent. Mortgage Debentures should 
be a good purchase for any investor desirous of having 
a stake in the tea-growing enterprise and who prefers 
a fixed rate of interest with specified security for his 
money.— London Echo, December 2. 
^ 
SALT AND COCONUTS. 
We direct special attention to the letter of 
Mr. Cochran, Chemical Analyst, on this subject. 
Mr. Cochran seems to prove that it is quite 
needful to supply salt to the maritime, 
as well as to the inland, growing coco-palms. The 
former no doubt benefit by the saline 
breezes ; but at the same time, they make 
great demands on the soil. Inland trees havirrg 
no salt-hearing breezes to feed them, make 
still greater demands on the soil. Altogether, 
it is evident that our coconut-palm cultivation 
ougirt to greatly improve from the liberal appli- 
cation of denaturalised salt. Let us suppose 
that the result from 200,000 acres being 
»o treated, was an increase of even so 
few as five nuts per tree per annum, and 
we should get an addition of between El, 400,000 
and R2, 100,000 to the annual income of the 
island. No mean improvement this! The fact 
is that neither the Government nor the public 
of Ceylon have ever awakened to a proper sense 
of the importance and capabilities of the great 
Coconut Planting Enterprise of the Colony. 
THE GAL AHA COY. 
Considering the difficulties experienced during 
the past year through high exchange, lower 
prices for tea and dear rice, we think this new 
Company has done exceedingly well in paying a 
total dividend equal to 7 per cent per annum. 
This has been secured too without neglecting to 
do the fullest justice to the interests of the 
shareholders in cultivation, factory and transport 
improvements. Then the Company has no less 
than 700 acres of young tea, so that it occupie* 
an exceptionally strong position. The report of 
the Chairman’s (Mr. IStrachan’s) address and of 
the other proceedings appears on page 493, and 
tve now give the main portion of the Directors’ 
Report : — 
The Directors have pleasure in submitting their 
Report, also Statement of Accounts duly audited for 
the year ending 30th June last. 
£. s. d. 
The gross profit for the season is . . 10,580 16 11 
From this has to be deducted — 
Interest on £55,000 Debentures £2,750 
Dividend on £60,000 Preference 
Shares at six percent . . 3,390 
And the Interim Dividend of 
five per cent on £50,000 Ordi- 
nary Shares paid in January 2,500 
8,640 0 0 
1,940 15 H 
London Charges, including Directors’ 
Fees, Trustees’ Fee?, Income 
Tax, &G. . . . . 77X X5 5 
Leaving a balance of . . £1,169 0 6 
From which the Directors’ recommend 
the payment of a — 
Final Dividend ot two per cent, on 
£50,000 Ordina,ry Sha res, making 
seven per cent, for the year .. 1,000 0 0 
Balance to carryforward .. £169 0 6 
The outturn of the Tea Crop was 829,000 lb,, being 
5 per cent below the estimate, and the Cardamom 
Crop was 19,240 !b., being 6 per ceot below the 
estimate. These shortages arose from unfavonra be 
weather during the last two months of the season. 
The Tea sold at 6'23d per pound nett, or about 
|d per pound below, but the Cardamoms realized 
lOd per pound above the e.stimate. The unfore- 
seen advance in exchange was an element of loss 
not calculated upon, as was also the high price of 
rice, caused by the scarcity in India. 
The above causes account for tiie difference be- 
tween ^ the estimated and actual result of the 
season’s working, but, considering these adverse 
circumstances, the Directors cannot birt feel satisfied 
with the result. 
During the past year 200 acres of additional land 
adjoining the Company’s estates were acquired, 218 
acres were opened for tea, and the expenditure of the 
season included the sum of £1,418 for nmiuuing, the 
benefit of which will be felt later on. The factory 
was extended in a substantial manner in order to 
deal with the increasing crops, and new lines were 
built to accommodate the larger labour force neces- 
sary for the efficient working of the estates. The 
capital expenditure has materially raised the value of 
the Company’s properties. 
The acreages under cultivation, including 422 acres 
which are being opened for Tea and Cardamoms this 
present season, are : — 
Tea in full and partial bearing . . 
,, non-bearing 
Cardamoms in full and partial bearing 
„ non-bearing . . 
Timber ,, .. 
Total cultivated acreage 
And in addition to this are 1917 acres of 
Forests, etc., etc. .. 
Making a total of . . 
The Tea crop for the current season is estimated 
by the Ceylon Manager at 1,026,000 lb. against 
880,000 lb. for the last season, and the Cardamoms 
at 27,750 lb. against 20,5001b. for last season. 
The Directors are glad to say that the market has 
mproved, and the sales of present season’s Teas 
to date show an average of 6|d. net per lb. They 
acres. 
2047 
acres 
727 
— 
2774 
93 
14 
— 
107 
276 
3157 
1917 
acres 
5074 
