848 
THE TROPICAL AGRICULTURIST. 
[June I, 1898, 
unless we are doing well. But it is always 
easier to arrange fees at the commencement. We 
Ze to confident that we shall succeed that we 
may as well show how that if we do Wi sno-dd 
like our directors to draw more than a quaiter 
of £.300 a year each. 
Mr. G. T. White I accept the suggestion. 
Mr Tottenham -.—Speaking from my experience 
of other Companies I should say that £300 was 
about the proper figure. 
Mr. Worthington I gladly second the 
amended proposition. 
The proposition as altered was then agreed to. 
The Chairman We are veiy much obliged 
for the nice way you have put it. I 
■we shall not draw the £400, but we are obliged 
all the same (Hear, hear.) 
The election of Messrs. Harper Bros., as auditois 
lor 1898, on the motion of Mr. J. Leake, seconded 
by Mr. E. Tye, brought the meeting to a close. 
THE RANGALLA TEA COMPANY OF 
CEYLON, LIMITED. 
REPORT OP THE DIRECTORS. 
For the year ending 31st December, 1897, to be 
submitted at the annual general meeting 
holders to be held at the offices of the Company, 
on Monday, 9th May, 1898, at 2 p.m. The directors 
have the pleasure to submit the balance sheet 
and profit and loss account to 31st December, 1897, 
duly ^audited. The net profit, including the balance 
of £1 184 14s 7d brought forward from last account 
fmSs to £2,526 0 1. The final dividend for the year 
1896 was paid on 26th April, 1897, amounting to £1,109. 
ffXFm dividend fFr ‘he year 1897 was paid 
on 13th September, amounting to £660. Total 
£1,760 0 1. Leaving a sum of £766 0 1. 
Which it is proposed to apply as follows : 
In payment of a Final Dividend of 
3 per cent for 1897— free of Income 
Tax— making 6 per cent for the 
year • • . , • • . . To u 
Balance to be carried lorward to ^ , 
1898 account .. 
Total.. £766 0 1 
The result of the year’s working does not com- 
pare favourably with the preceUing season, but this 
Fa attributable^ to the higher level of exchange and 
to the somewhat lower range of prices that has 
recently prevailed in the London tea market. 
The ^yield of tea for 1897 has fallen shoit of the 
estimate, owing in a great measure to unpropitious 
weather at the end of last year, but the quantify of 
cardamoms was greater than was anticipated. 
The sales of tea show a net average price per lb. 
of 6.70 pence, being equal to, say, 43 cents per lb- 
Exchange for the Company s drafts during the 
year has averaged Is 3 35-f4d. as against an average 
IXnge for iW of Is 2 l7-32d ; this fact alone 
adversely affecting the profit to a considerable extent. 
The acreage of the estate is as follows : 
Tea in full bearing . . • • 691^ 
SCOTTISH CEYLON TEA COMPANY, 
LIMITED. 
Report of the Board of Directors, 
To be pi-fsented to the shareholders at their ninth 
annual ordinary meeting to be held at the offices 
of the Company on Thursday, 12th May, 1898, at 
12 noon. 
The Directors have now the pleasure to submit to 
the shareholders the accounts and balance-sheet for 
the year ending 31st December 1897. 
The net profits for the year £ s d 
amount to £4,429 5s 8d, to 
v/hich has to be added 
£1,252 7s 3d brought forward 
from last accounts, giving a 
total sum to be dealt with of 6,681 12 11 
An interim dividend on the 
ordinary shares of 6 per 
cent (free of income tax) paid 
in September 1897, absorbed 2,050 0 0 
Dividends on the 7 per cent 
preference shares have also 
been paid, amounting to 630 0 0 
It is now proposed to pay a 
final dividend on the ordin- 
ary shares of 5 per cent 
(free of income tax), making 
10 per cent for the year 2,050 0 0 
4,730 0 0 
partial hearing 
„ not in bearing 
Cardamoms 
Grass and Fuel Timber 
Forest and Waste Land 
63 
61J 
56 
25 
444 
Leaving a balance to carry 
forward to next account of 
£951 12 11 
The Directors much regret that, owing to the 
high level of exchange during the past season and 
the depressed state of our tea market, the results 
for 1897 compare so unfavourably with those of pre- 
vious years. 
The average rate of exchange wan Is 3 13-32d per 
rupee, against Is 2 I5-I6d per rupee for 1896, and 
the average price realized for the tea sold in the 
London market was 7 956d per lb., against 8‘860d 
per lb. daring last season, and to these two factors 
is mainly due the regrettable shrinkage in profits. 
Owing to unfavourable weather at the close of tb« 
year, the total crop secured from the Company’s 
properties fell somewhat short of expectations, the 
out-turn being 708,533 lb. or 4,467 lb. under estimate, 
against 729,200 lb. secured for 1896, the average yield 
being 415 lb. per bearing acre. 
In addition to the above, 206,464 lb. of tea were 
manufactured for others, making a total output from 
the Company’s factories of 914,997 lb. of made tea. 
The Company’s total acreage remains unaltered at 
1,963 acres, including ; — 
Tea over 6 years old . . 1,627 acres 
„ rising 4 and 5 years .. 80 ,, 
„ under 2 years . . 13 ,, 
Total in tea 
1,720 
The Ceylon Manager, Mr. Kerr, reports all the 
estates to be in good heart and likely to give satis- 
factory returns for the current season. The Director* 
would take this opportunity of again expressing their 
satisfaction with the working of the Company's staff, 
both in Ceylon and London. 
Total.. 1,241 
The yield of tea per acre has been 360 lb. as against 
During the year an additional expenditure of £544 
Is has been incurred on capital account, but a sum 
of i:300 for depreciation of machinery, and £55 I Is id 
realised by the sale of tea plants, &c., have been 
written oft Capital Expenditure. The prospects for the 
current year are satisfactory, the estimated yield being 
240,000 lb. of made tea and 5,0001b. dry cardamoms. 
“Paddy and Weevils.”— We call attention 
to the letter of “Agricola” on this subject given 
on another page. The writer — a gentleman of 
special experience in native agriculture — draws 
a sad picture of the ravages, already effected by 
the “poochie”; hut gives 'ho hint as to the 
kind of remedy to be applied, and yet the Sin- 
lialese must know of some remedy from their 
past experience ? We have referred to Dr. Watt’s 
exhaustive work on the Products of India; but 
the enemies he deals with are those of the grow* 
ing crop. 
