Feb. I, 1898.1 
THE TROPICAL AGRICULTURIST. 
54t 
CEYLON LAND AND PRODUCE COMPNY, 
LIMITAD. 
GENERAL MEETING. 
The thirteenth annual general meeting of the Cejlon 
Land and Produce Company, Limited, was held at 
101, Leadenhall Street, London, E C., on Wednesdays 
the 22nd December. 
The chair was taken by Mr. Y’illiam Keiller. 
The Secretary having read the notice convening the 
meeting, 
THE chairman’s SPEECH. 
The Chairman said : Befoie passing to the report I 
wish to remark that Mr. Y'ilson has expressed his 
regret at being unable to be present at this meeting, 
but he considers the company's interests will be better 
served by his remaining in Ceylon for a little vhile 
longer. Gentlemen, — The report of the directors for 
the year ending June 30, 1897, is in your hands, and I 
presume it may be taken as read. The statistics 
issued with the report, covering the ciops of tea and 
cacao for the past eight years are to complete that I 
have nothing further to add in this respect. With 
regard to cofee, I am sorry to sa.y that the crop v\as a 
very small one : in fact it was too small (only 264 
bushels) to deal with in the same way as we have dealt 
with tea and cacao. I may say that the tea crop ex- 
ceeded the estimates by 62, 0001b., but realised in Ceylon 
currency about five cents per lb. less than the previous 
year. Cacao fell short of the estimates by 50 iwt, 
NO CACAO DISEASE. 
This deficiency occurred solely in the North Matale 
group, and v\as due to abnoimal rains in December last 
which injured the, blossom, and, roughly speaking, 
resulted in a diminution of the crop by 200 cwt. 
With regard to cacao disease I may give ycu the 
opinions of the superintendent and Mr, Wilson re- 
garding our estates. The former states that a tiee 
here and there may have died (the same as happens 
to coffee, tea, or any other product), but no patches 
have died out and that there is no more disease now 
than what might have been, say ten years ago. He 
has rr;ade a point of going caiefully thiough all the 
company’s clearings, but has not seen a single in- 
stance of the disease that is being written about just 
now. He has questioned all the si.piei intendents, and 
likewise the kanganies, if they have seen any signs of 
it, but their verdict is in the negative. He hopefehis 
slate of affaii s may long continue. He has been over 
estates where it does exist, but he says it is nothing so 
seriousas he was prepared to see. Mostof Iheccmpany’s 
cacao is on undulating and pretty steep gicund, which is 
a great advantage, I understand, although it may not 
crop so freely as what is planted on flat land. Trees 
die out here and there from different causes, as they 
have done ever since the company’s cacao veas planted, 
but tone greater extent than previously, just as tea 
does, and fruit trees and bushes in Englr.nd. Mr. 
Wilson reports he has never seen the company’s cacao, 
with the exception of some backward patches of the 
new clearings, look better than at present, and I think 
you will agree with me that this is a very satisfactory 
state of affairs for this company. 
VARIOUS PRODUCTS. 
At the last meeting the directors weie asked to obtain 
a census of coconuts, and I now give you the figures 
collated in September last; 1,343 trees in full bearing, 
16,052 trees not bearing (these all promise well), 24,336 
nuts in nurseries. I will now direct your attention to 
our new clearings. Our last reports from the Alloo- 
wiharie group state that they are doing well, and 
promise to be successful. As an indication of the pro- 
gress being made here, I may say that during last year 
8,0001b. tea leaf were secured, whilst the estimate for 
the current year is 30,000 lb. leaf. We have seven 
acres of tea four and five years old in bearing, and in 
addition are now plucking from a portion of a 40-acre 
lot. About 20 acres have been added to this estate by 
purchase. The tea clearings at Andangodde are com- 
ing on very well ; they consist of 6^ acres under three 
years old, 39J acres above one-year old. The 80-acres 
clearing on Fetteresso is making good progress — we 
bope to commence plucking off about SO acres during 
the coming calendar year, and the balance in thefinan' 
cial peiiod 1898-99. The young cacao at New Pera- 
denij a is doing well, andatthe moment there are no 
signs of disease whatever. The tea dealing also is 
piogressing favourably, and in tune will be a good 
field. During the piesent year the plucking area will 
be increased by nearly 30 acies. The ceffee clearings 
at Noith Matale hay’s not done well, I am soriy to 
say, the Arabian variety being almost a failure. It 
had a bad attack of leaf disease shortly after being 
planted, and since then it has not fully got over it. 
The young tea and cacao make good progress; six- 
teen acres of tea will come into bearing next finan- 
cial year, and fifty-five acres of cacao in 1899-1900. 
The aiea of Ovveila has been increased from 261 to 
372 acres (by purchase), whilst the planted area now 
conipiises 105 acres cf lea, cacao, and coconuts. On 
October 31st the supeiinteudent repoits that the 
general cendition of the estate is improving, and the 
various products aie doing well and have a healthy 
look. The figures given in the direct'. rs' report for 
1895-96 with regard to Strathisla, were not quite ac- 
curate owing to an error on the part of the superin- 
tendent, but I think the acreage statement, which 
shows an incieased area cf about sixteen acres in 
the present report, is siibctautially correct. 
TO SUM UP. 
The high opinion pieviously foimed by Mr. Wilson 
of this estate he still adheres to. He thinks that 
in couise of time we shall have a very valuable asset. 
It now remains for me to sum up, lii 1896-97 we had 
1,571 acres of tea in bearing, and thus it will be seen 
that cur total tea clearings amount to 660 acres (in- 
cluding coconuts on Owella), all of which will come 
into healing during the next frur yeais. The bear- 
ing^ area of cacao last year was 929 acres whilst since 
1893-91 we have planted 445 acres, which will, we 
hope come gradually into bearing from 1899-1800 on- 
wards. Now as to the prospects for the coming year. 
The estimates piovide for 752,500 lb tea, against an 
intake of 749.0U0 lb last year, and a cacao crop of 
2,5( 0 cwt, comparing with 2,266 cwt brought into 
store during the past twelve months. Including tea 
made for others and from purchased leaf of our total 
estimate of tea figures out at 1,107,000. My advices 
from Ceylon bring estate figuies down to November 
15th, and at that time we W’ere 23,000 lb tea ahead 
as compared wi’h the same date last year, the in- 
creases being mainly from New Peiadeniya and North 
Matale. Fetteresso and iUckartou crops are, so far, 
shoit, owing to the very wet weather encountered. 
On the whole, I think the prospects of our estimates 
h'ing exceeded are encouraging. The cacao intake 
to 15th ult. is 575 cwt, and compares W'ell with 141 
cwt secuied by November 15lh, 1890, but it must be 
borne in mind that the crop is earlier this year than 
last. It is, of course, too soon to make any pro- 
phecies about the total cacao crop, hut if I may hazard 
an opinion, I think it is likely — given normal weather 
— that the estimate will be secuied. I now tutu to 
the profit and loss account and balance-sheet, and 
with your permission will deal with the items seri- 
atim. Upon comparing the present profit and loss 
account with the previous one, it will be seen that 
expenditure on crop account has been increased by 
£2,248 ; this is due to rise in exchange from Is 2d to 
Is ,3d loss on rice, and cost of handling the increased 
tea crop. 
THE RISE IN EXCHANGE. 
The rise of a penny in exchange has cost us over 
the entire expenditure a little more than £1,800. 
Interest on debentures and loans is a decreasing 
quantity, the aggregate of bonds outstanding and 
the rate of interest payable being reduced. On the 
credit side it will be found that produce has realised 
rather more than .£750, as compared with last year. 
Commission show a reduction from £753 to £190, 
whilst we have made a profit in realising the produce 
outstanding from the previous year of £177. Turning 
now to the balance sheet, it will be found that our 
paid up capital has been increased by £3,200, being 
the proceeds of a 10s. call on the ordinary shares, 
Debenturea have been paid olf to the extent of £5,Hp, 
