736 
■fHE TROPJCAL AQRl6ULTUftl8t. 
[April i, 1S92 
a or 3 per oent. Mr. Suhren remarked however 
that there would be a difierenoe if the Company 
did well; the others perhaps might have 20 per 
cent. Mr. Armitage said that these shareholders 
bad got very good soourity with the seven 
per oent. The Chairman supposed these shares 
would really bo taken up entirely by the share- 
holders. There was also some talk about what 
would the position of parties in the event of the 
Co.’s property being mortgaged, but Mr. Hall 
remarked that as there was no earthly ohanoe of 
a mortgage being e&eoted it was unneoossary to 
discuss this. The proceedings terminated with a 
vote of thanks to the chair. 
NOTES ON PRODUCE AND FINANCE. 
A WoNDKBVDn Houbme.— T he following advertise- 
ment which appears in the Orocer, may be taken as 
a tequol to the letter of ‘-A Seeretary’’ on the subject 
of tea retailing and tea growing, to which we have 
referred in our two last issues : — “ Important to 
grocers. Tea plantations. A sobeme will be sub- 
mitted, by which a leading grocer can obtain in bis 
district proprietary rights of certain tea plantations 
in Ceylon and India, and, by thus becoming bis own 
planter, use it as a powerful advertieement to fur- 
ther hie interests. The produce of the plantations 
will be offered direct to him without the intervention 
of any unnecessary charges — equal to a saving of 10 
to 20 per cent on prices usually charged by wholesale 
London dealers. Keasons why a grocer should at 
once acquire the rights in bis district: 1. Because be 
will buy his loose ten at least 10 per eent cheaper 
than from any other source. 2. Beoause the fact 
of being his own {planter is the strongest position 
be can occupy for advertising and trading pur- 
poses. 8. Because only one bona fide grocer will 
be accepted in a district. 4. Because he will then 
become the only grocer in bis district who ships 
tea direct from his own plantations 6. Beoause 
he can acquire proprietary rights by giving a con- 
tract for tea in lieu of paying cash. 6. Because 
the plantations will be managed by one of the 
largest and most experienced tea planting firms, 
who guarantee a minimum dividend of 5 per oent, 
and to repurchase his share when he wishes to 
realise. 7. Because, as a proprietor, he is not in 
any way bound to purchase his tea from the 
plantations, and thus reserves a free hand. 8. 
Because, if ho doesn’t join at onoe sotnoone else 
in his district will step in before him. Full 
particulars on application to the Secretary, Tea 
rlantations Qrocer Office, Eastcheap Buildings, 
E. 0.” 
Tea Growing and Tea Retailing.— In support of 
the view we have taken that tea planting and ^tea 
retailing do not necessarily work well in combination, 
we have received several oommunioations. There 
are also two letters in the Grocer supporting our 
side of the argument. In one of these Mr. Llewellyn- 
Hughes, a planter who has tried tea growing and 
tea retailing in combination, in the course of a long 
letter, says “ Tea, I am the retailer who has tried 
it ; and if ‘ The Secretary’ desires me, through 
yoiir columns, to enlighten a guileless public on the 
subject, I shall bo pleased to do so. N. B. — I hope, 
however, for bis own sake, that be alone has taken 
up all the shares in the ‘Tea Plantation Company 
now in course of formation,’ before this appears in 
print- but especially so should he require any 
further information. With regard to Mr. Lipton's 
opinion, as quoted by your correspondent, it must 
be taken cum yrano salts. I congratulate him on 
getting a cheap advertisement. N.B.— My retail 
friends must not be guided by it* It is misleading 
— nay, I will venture to assert it is positively 
dangerous, Mr. Lipton forgets, or perhaps does 
not know, that teas of every grade and descrip- 
tion often get into the bands of the retailer for 
less money than they coat the producer. It is 
nevertheless a lact." 
Further Testimony.—" Another phase,” says 
another correspondent, “ of the question of tea- 
growing, which perhaps furnishes the most powerful 
reason why retailers should consider well before 
entering on such a course, is the fact that, buying 
on the open market in combination, dealers will 
invariably be able to select more suitable goods 
from an assortment furnished by between thirteen 
and fourteen hundred gardens, covering an area at 
the present time in India and Ceylon of upwards 
of half-a-million acres.” Mr. Valentine, of Belfast 
also writes ; — " I have read with much interest the 
corrospondenoe in your columns relative to the 
above subject, being a tea planter of some years 
experience, and one of the largest retailers in Ireland. 
I know many tea-growers (retailers), but I never 
met any retailed tea offered by a ‘ grower ' that I 
would not undertake to retail (similar tea in every 
respeot) in my depdta at pence per pound under 
the price they were offering it at.” It appears 
clear from this evidence that our contention was 
not far wrong — viz., that a retailer who offers lea 
from a garden or gardens in which he is inte- 
rested is not, therefore, and by reason of this, in a 
better position to supply tea retail than a purchaser 
of the product in the Lane, Beyond this point there 
is no occasion to pursue the matter. 
Tea Figures. — The deliveries in London during 
January showed an important decrease of 987 2261b. 
compared with those in 1891, the total being 
19,894,070 16., against 20,831,301 lb.; those of China 
were only 5,072,343 Ib., as compared with 0,436,795 
lb., or a decrease of 1,303,4501b.; Java showed a 
decrease of 134,000 lb., and even Indian fell off to an 
extent of 003,147 lb. On the other hand, Ceylon 
shows the further large incccase of 1,103,204 lb. 
The landings in January were 900,400 lb. in excess 
of the previous year, although those of China were 
only 4,130,753 lb., against 6,000,318 lb.; Java and 
Japan, 130,020 lb., against 194,620 lb.; Indian being 
370,0001b. in excess, whilst Ceylon showed the largeex- 
tensionof 2,184,4001b. The landings of China Congou 
were 2,057,0491b., against 3,568,0171b., leaving a stock 
of •22,328,256 lb., against 36,294 093 1b. The land- 
ings of Green last month were 440,228 lb., against 
1,14.5,862 lb., the deliveries 458,347 1b., against 
617,0201b., and the stock is now 3,439,880 1b., 
against 2,801,320 lb. in 1891. The total stock at 
the end of January was 10i).602,757 lb., against 
91,678,1801b., showing the larger relative surplus 
of nearly 9,000,000 lb., Indian and Ceylon being 
18,000,000 lb, in excess, and China 9,000,000 lb. less. 
Darjeeling Tea, — In their monthly Darjeeling 
tea report lor January, Messrs. Lloyd and Carter 
say : — During the past month sales have 
been very heavy, and as some Darjeeling have 
shown improved quality, they have been freely 
taken at advancing rates. Anything choice 
has been strongly competed for at long prices, 
and it is satisfactory to find the country 
dealers pushing the trade in fine teas. The deli- 
veries and stooks are again disappointing, consider- 
ing the low quotations of all the common grades. 
China teas are dull, but teas for price remain firm, 
though fine sorts are unduly depressed. Ceylons 
are selling well at firm rates. 
Just Registered.— Under the title of the Anglo- 
Assam Co-operative Tea Company, Limited, a 
company has just been registered, with a capital 
of j 68.0I)U in £1 shares. Object, to acquire the 
undertaking of the Lung Sooug Tea Estate, now 
