123 
THE TROPICAL AGRICULTURIST, 
[August i.'SiSgi. 
ftbont l^d) per lb. Mnaufaoturinf; barks in quills, 
broken quills, and chips, roaliat'd from 0 to ST cents 
(equal to l}d to IOd.1 per lb, ; ditto fine root, from 
/ to 43 oents (equal to l^d to 7|d). Druggists’ barks 
in quills, broken quills, and chips, 17 to 130 cents 
(equal to 3d to lis Id) ; ditto root, 11 to 15 cents 
(equal to 3d to -Id). 'Ibe principal buyers srero Mr. 
Oustav Briegleb, the Drunswick Quinine Works, and 
the Auerbach Quinine Works . — Chemist and Druggist, 
June 13th. 
♦ 
NOTES ON rnODUCE AND EINANCE. 
A Splendid Bebult. — The shareholders and direc- 
tors of the Brahmapootra Tea Company, Limited, 
may congratulate one another upon the excellent result 
of Ibe year's working and the handsomo dividend 
earned. Mr. Robertson, who presided at the meeting, 
stated plainly that " the policy of the board was not to 
stint where good canse for spending was advanced," 
and so long at this policy, coupled with that of placing 
complete confidenoe to the local management, is pro- 
ductive of such a result as a 20 per cent, dividend, 
there will scaioely be two opinions as to its wisdom. 
The alfairs of the Uruhmapootra Company are ex- 
cellently administered at home and in India, and 
allowing that this year’s results are exceptional, the 
dividend just deolared by this company is not only a 
source of satisfaction to its shareholders, but should 
prove encouraging to the tea indnstry generally, iims- 
much as it estatlishes the fact that, given a good garden 
and capable management, there are few better and safer 
investments than Indian tea shares. Shareholders have 
been slow to recognise this, but it is beginning to dawn 
on them. — U, It O.Mailt 
INDIAN AND CEYLON TEA. 
38, Minoino Lane, Juno 1891. 
Mebsbs. TiioMrsoNs’ Ansdai, Review. 
It the course o£ the past season— though full of Interest— 
1ms been ui, marked by inoidutts which speidally distinguish 
it from the ycers preceding, the fact may perhaps fled 
an explanation in the assured position ns u great in lustry 
which Indian [and especially Oo>loo,— Ed. T. A.] ’I'eii h is 
altaincd, and the now well-muliired eipcrinicc ou w .-cli 
that position is hated. 
As 10 the past so now, there have been diflioiilties to cm- 
tend with; dteappointiosiiis to cnc. uiitcr ; comnstilien to 
face - but these iiotwithstending, the fndn-i-y ilirlec.- and 
Indian tea continues to make its way In the markets of 
the world, justifying the enterprise of those who have made 
its interests their own. .v 
The sanguine eslimutos of the crop— which we observe 
again prevail for the comlog season— uiiforHuiately were 
not realiaed ; and the ahortfall of V million lb., attributed to 
untoward weatherat the heginning. and the early closing of 
the aeaaoD, left the total supply hut buhl larger than that of 
18 »# to moat the growing wants of the world. 
In point of quality the crop was not altogether satis- 
factory : for while some districts, e. g., f 
XsowgODg, did exceedingly well, others fell below Iholr 
usual standard until late in the ausi-ou, when a geuoial 
improvement took p'aoe. The Darjeeling crop wilh afow 
exmptloiiB was a disappoinilug one : but under sueh coo- 
ditions as prevailed nothing Oise could be eipecteih and 
its lowered value must uot be taken to indloata any fall- 
ing off in the eslimatioo of gaoil Darjeeling tea, which 
is far from the fiiot. Dooars ami Sylhet have again eup- 
ulied a kind well suited to ihe needa of the great relaibrs, 
for whom the large breaks, uniform in character, ihick 
and plain in enp, and purchasable at a moderate price 
bMe a special attraction. The produce of the gardens 
in Ttavancors, though still limited m quantity, is grow- 
ing and promisei to develop into a considotable item, 
inw that tea is being planted euccessfiilly on the lower 
Uvels, aud yield. a Joillty which find, favour with con- 
‘“Throughout the greater part of the year the market 
was favSnrabU to producers. From the increased con- 
sumption which followed the reduction in dutv India 
derived special benefit, felt not 
also in a more general demand for the bettor qu hties, 
DurlQff tho eiirJy montha rates were maintained without 
much variation at a level low enough to oucourage eoq. 
BumptiOD. yet not ho low as to apprehenj-lon to 
DrXcersj but before the end of tlie year prices gave 
wav under the combinod intlueuco of the ftoancla 
money, the iooyiiabie pressure of euppiy, XU e 
lowest point was reached about the beginning of Decem- 
ber, but before the market olused a reaction setio, when 
it was (Celt that the cro ‘ was likely to weigh out far 
ehort of the oatiinate, and thot supplies would bo light 
froui Chiua. The movement juitmted io Deaember by 
8ub»taiiiiol trade buying, fully warranted by tho low 
pi’icos and Bteadily lucreaeing rate cf consumptiop, was 
accelerated iu January by spoculative tra'isaclions, aod 
the engirneas of thoi^e who held Ineuffiaeut atocke tc 
acquire thrm, with tho reeult that iit the space of a few 
weeks quoiationa for the lower grades advanced 2*''t to 
30 per own!., and for medium grades 10 to 15 per cent, 
from lUe Decembur level. The cxoellojit quality of the 
latter portion of tho crop also uneouraged purchasers, 
und kept up prico.s without much tluctuation until the 
eud of April, when the market begun to feel the iufluence 
of the large supplies coming in from Ceylon, selling at 
gradually recoding rates, and by tho ovldence which figures 
gave that the higher scale of price was reducing the per- 
centage ofindianlea coiiHiimed. 
Aualyris of the Board (f Trade Koturiirt for tho United 
Kingdom shows the Huoluatiou to have been &e follows, 
vir. 
Percentage 
consumed, 1890. Dec. Jan. Feb.— April Afay 
1890. 1801. 1891. 1891. 
per cent, per cent, per cent, per cent, percent 
Indian 57 53J 61 45 
Cnylon 18 17^ 18{ 20 28 
Cblua (Ss Java 29^ 26^ 28 29 27 
While ordinary qualities have been Hubjact to theso 
niovemeuts, ihe value of the finer descriptions ha^ been 
suppirted more or less nt^adily throughout, winch is due 
iu ,ome measure no doubt to the smaller quantity pro- 
duced, bu more, we thiuk, to a growing appreciation of 
the merits of good tea ; and the fact, of which evideoce 
acoumulates, that formidable as tho competition of Ceylon 
IS, It dooH uot affect tho /inesf growths of India. Tho position 
indeed, ie one that may well encourage those who have proved 
their gardens capable of producing fine tea. to make that 
their atm ; and the more so at the present time, as the 
recent rates paid for the lower sorts will probably tempt 
many to work for heavy crops without special regard 
to quality. Should this be genertilly tho case, a low 
range of price for ooiumoa and medium horls may oven- 
lually result, as it will be difli’-ult to put into consump- 
tion another lu or 12 million lb., ivantiy^j thn altractim 
of quality^ except by the pi*oco»s of uinkPscUmg some 
other kiud. 
Eeviowiiig tho year’s trade iu its broad»>st features it 
appears that, allowing for diffepen{*e io quality, growers 
have reC’?ived more fur their produce than iu the two 
preooding seaBons. As the averuiro prine fo the oousumur 
has not been raised iu the lutvrvdl, the iiifcceiicc is 
either thut prodneorw Imve received part wf the rcniitted 
duly, or that Iheic has been a shrinkage in the ti.fnr- 
mediftte traue-prfflrr. As regards this, we have auiho- 
nty for saying that a portion of the public elect ro piy 
the price they did before duty was lowernd, aud to 
have a beLt«r tea i while It is the cast) that the trade 
of the country is finding its way Into new channels, and 
is gradnall> pasaviig from the siiiali retailor into tlio 
hands of a class of large d i-jlributorA, who in order to 
make und kuep their business are compelled to submit to 
some sacrifice of profit. The extensive scale of tbeir 
operations enables them to do tUia : and tho producer benefits 
The rapid advance m January, on the mere possibility of 
a short supply, has also afforded the trade a useful object- 
lesson on the contingent risk of the modern system of wurkiug 
on short st-icks. ” 
The exiension of trade with other markets has pro- 
groHsed hIowIv, owing to the comparatively high ppico< of 
the kinda called for. but the increased demand from 
Australia promiBes well f^r the future ; aud the work 
which ban been done In Canada and the Slates only 
wjiits, to bear fruit until the Binds which suit them can 
bo shipped at tho rattie they will pay, Whilsnhe United 
Kingdom abnorbs nesrly all tho Indian toa produced, much 
expansion lu other quarterh cannot well be looked for. 
CETLON. — Ttie fortunes of this industry ere uow closely 
interwoven with those of India ; tho same Influences sbapo 
tho course of evenlij, and movements in tho one market 
are quickly reflected in the other. Tho later roc mbs of 
1890 wi'io marked by few ovunts calling for comment, 
production aui oouaumption pfiogreising ou ptrallel Uans, 
while values were malntatnud at a fairly remunerative 
level, and as high as could be expected for a crop nut 
plentiful III flue tea, the highest point being reached in 
October.. In the upward movement which took idico in 
January, Ceylon partoipated, the lower grades rising to a 
point which carried the average value above the best in 
October, where they remained until li was seen that 
consumption wfts not crowing fast enough to take off the 
largo increase iu supply. The gr.adual lowering of rates, 
however, has placed Ueyloii iu a belter position with 
respect to other gtowthR, which is of the utinoat impor- 
tiinco to producers, even though attained at the cost of 
price— aud until more pleutilul supplies of Indian are 
