GIFT OF TEA PRODUCING COMPANIES OF INDIA AND CEYLON. TEA PRODUCING COMPANIES OF INDIA AND CEYLON SHOWING THE HISTORY AND RESULTS OF THOSE CAPITALISED IN STERLING BY GOW, WILSON & STANTON I Tea & Tea 'Share Brokers 13, ROOD LANE, LONDON, E.G. PRICE ONE GUINEA. LONDON : A. SOUTIIEY & CO., 146, FENCHURCH STREET, E.G. MARCH, 1897 [COPYRIGHT] 0/5 PREFACE. THE raison d'etre of this work on the Tea Companies of India and Ceylon arises from the fact that about ^35,000,000 of British Capital is invested in Tea growing in these two countries, and the following approximate figures further demonstrate the magnitude and importance of the enter- prise : 1895. Acres under ..Tea. Acres in bearing. Labour employed. Crop produced. Ibs. Indian Ceylon 450,000 305,000 375,000 262,000 600,000 290,000 135.500,000 98,000,000 755>o 637,000 890,000 233,500,000 In the particulars of Companies mentioned in this book, one formula has been kept to as much as possible. In most cases only results up to the end of 1895 can be given, as the Annual Reports of Tea Companies are not, and cannot well be issued, before, say, May-July in the following year. The present volume deals with the history of each Company for an extended period, gives the personnel, and from additional data can be gathered the policy adopted as to building up Reserve Funds, writing off amounts for depreciation out of profits, &c., &c. The following is a summary of the capitalisation and of the working results of the year 1895 of 56 Indian Tea Companies, which may be said to be in full working order, and consequently their aggregate figures have a value as establishing some sort of a standard : 1 Paid up Cost Number of Com- Extent of Cultiva- tion. Capital involved and Debentures to Com- pany Crop produced. Ibs. Av. Ibs. per Total Profit earned. Profit per Profit on Capital panies. Acres. subscribed. per acre. of Tea. employed. acre. 56 152,547 ,"6,907,000 ^45 58,476,182 425 538,349 2'2ld. *{?* A similar representative table cannot be given for Ceylon, as so many of the Companies are interested in other products besides tea. 44GG25 IV Satisfactory features, from an investor's point of view, concerning Tea Companies, are (1) That though so numerous, the Companies have been seldom saddled with the modern style of extravagant promotion expenses. (2) That with scarcely an exception, the Companies are controlled and directed by business men, either with a practical knowledge of Tea planting, or connected in some manner or other with the Trade. It is largely in consequence of this that in recent years we have had economies in working and concentration of manage- ment. The Industry, too, has benefited from greater facilities of transport and reduced freight rates. (3) That it is the custom of the majority of Companies to place very full and lucid yearly accounts before Shareholders. Regarding the recent developments and present position of the Tea Trade, the following table shows how what may be termed British- grown tea has during the last 30 years displaced former sources of supply. For 1896, the home consumption of British-grown tea has been 89 per cent, and that of China and other teas only n per cent., to contrast with a consumption in 1868 of but 7 per cent, of British-grown tea and 93 per cent, of China and other tea. TEA CONSUMPTION IN THE UNITED KINGDOM. Year. China, &c. Per cent. Indian. Per cent. Ceylon. Per cent. Total. Per head of popu- lation in Ibs. 1868 99>339,ooo 93 7,746,000 7 107,085,000 3-52 1871 109,445,000 89 13,956,000 II 123,401,000 3-92 1875 122,107,000 84 23,220,000 16 145,327,000 4-43 1878 120,652,000 77 36,744,000 23 I 57 J 39 6 J 00 4' 6 4 1883 111,780,000 67 58,000,000 33 I ,OOO,OOO 170,780,000 4-82 1885 113,514,000 62 65,678,000 36 3,217,000 2 182,409,000 5'06 1887 90,508,000 49 83,112,000 45 9,941,000 6 183,561,000 5-02 1889 61,100,000 33 96,000,000 52 28,500,000 15 185,600,000' 4-99 1890 57>53o,337 30 101,961,686 52 34,516,469 18 194,008,492 5-17 1891 52,287,304 26 98,941,931 49 51,227,602 2 5 202,456,837 5-36 1892 34,483,408 i7 109,528,169 53 63,102,127 30 207,113,704 5-43 1893 35.735,722 17 108,143,602 52 64,218,061 3i 208,097,385 5-41 1894 255805,313 12 116,965,653 55 71,570,078 33 214,341,044 5-53 1895 31,433,014 H 116,343,314 53 74,023,809 33 221,800,137 5-65 1896 24,549,93 6 j II 122,941,098 54 80,294,475 35 227,785.509 573 In regard to the future of the industry, two features present them- selves for consideration : First. It may be taken that there is a natural average increase in the consumption of tea in this country to the extent of from 4,000,000 to 5,000,000 Ibs. per annum, and Secondly. That markets outside the United Kingdom are continually expanding in the use of Indian and Ceylon Tea. The undersigned have sought as far as possible to secure information first hand from the secretaries of Companies, and take this opportunity to thank the gentlemen who have so obligingly furnished the facts that are given in the volume now presented. GOW, WILSON & STANTON. 13, ROOD LANE, March, 1897. INDEX. INDIAN TEA COMPANIES. PAID-UP CAPITAL. DEBENTURES NAME. Ordinary. Preference. ISSUED. PAGE. i Allynugger ... 70,000 50,000 ... ... 1 Assam ... 187,160 ... ... 8 Assam-Dooars 50,000 ... ... 6 Assam Frontier ... 142,500 ... 142,500 ... 82,500 ... 6 Attaree Khat ... 66,745 ... 8 Balijan 31,000 ... ... 10 Baraoora 40,000 40,000 ... ... 11 Bargang 20,000 10,000 ... ... 13 Borelli ... 78,170 6,510 ... ... 14 Borholla 16,000 16,000 ... ... 15 Borjuli ... ... 16 Borokai ... 43,560 ... ... 16 Brahmapootra ... 114,500 ... ... 17 British Assam 20,000 15,000 ... 19 British Darjeeling ... ... 35,000 ... 25,000 ... 20 British Dooars 23,750 9,750 ... 21 British Indian ... 60,825 16,500 ... ... 28 Budla Beta ... 45,000 ... 10,000 ... 25 Buxa-Dooars ... 27,500 ... 26 Cachar and Dooars ... 76,500 ... 76,500 ... ... 27 Chandpore ... ... 32,000 ... ... 29 Chardwar 10,000 5,000 ... ... 30 Chargola 72,010 ... 81,007 ... ... 31 Cherra ... 119,860 ... ... 32 Choonsali .. ... 35,000 5,000 ... 84 Chubwa ... 33,000 ... 33,000 ... ... 85 Consolidated Tea and Lands 80,000 ...1,400,000 ... ... 36 Dapoota ... 88 Darjeeling ... 135,420 ... ... 88 Darjeeling Consolidated ... 60,000 60,000 ... ... 89 Dejoo ... 43,580 ... ... 41 Derby 20,007 ... 15,000 ... ... 42 Doloo 60,000 20,000 ... ... 43 Dooars 150,000 ... 75,000 ... ... 44 Poom-Dooma ,,. ... 165,000 .,, 10,000 .., 47 viii PAID-UP CAPITAL, DEBENTURES NAME. Ordinary. Preference. ISSUED. PAGE. t Eastern Assam 61,120 ... ... 10,000 ... 49 East India and Ceylon 85,000 ... 85,000 ... ... 50 Empire of India and Ceylon ... 219,000 ... 219,000 ... ... 52 Endogram ... ... ... ... 40,000 ... ... ... 54 Indian Tea Company of Cachar... 94,060 ... ... ... 55 Jalinga ... ... ... ... 22,000 ... ... .. 56 Jhanzie 83,500 ... ... ... 57 Jokai... ... ... ... ... 250,000 ... 50,000 ... ... 59 Jorehaut 100,000 ... ... ... 60 Kamroop 10,000 ... ... 1,000 ... 62 Land Mortgage Bank of India... ... ... ... 63 Lankapara ... ... ... ... 50,000 ... ... ... 63 Lebong 65,656 ... ... ... 64 Leesh River 15,000 ... ... 2,100 ... 66 Longai 41,000 ... 15,070 ... ... 67 Lungla ... ... ... ... 100,000 ... 100,000 ... ... 68 Luskerpore .- 17,800 ... ... ... 70 Majuli 95,970 ... ... ... 71 Makum 100,000 ... ... 25,000 ... 72 Mazdehee 16,320 ... ... ... 74 Meenglass 43,ooo ... ... ... 75 Moabund 100,000 ... 50,000 ... ... 76 Moran 25,500 ... ... ... 78 Mungledye ... 40,320 ... 12,000 ... ... 79 Nahor Rani 35,ooo ... 5,419 80 New Sylhet 10,500 ... 12,000 ... 25,000 ... 82 Noakacharee ... 70,000 ... ... ... 83 Nonoi ... ... ... 84 North Sylhet ... ... ...85 Oodmarie 13,000 ... 12,000 ... ... 85 Rajmai 56,000 ... ... 5,000 ... 86 Rema 18,000 ... ... ... 87 Scottish Assam ...... 79,590 ... ... ... 88 Singlo ... 105,000 ... 105,000 ... ... 89 Southern India 21,000 ... 4,000 ... 5,000 ... 91 South Sylhet ... ... ... 93 South Travancore I 3,75 I 3,75 ... 93 Suddia Road 25,000 ... ... ... 94 Sylhet 11,872 ... ... ... 95 Tingri 56,500 ... ... ... 96 Tiphook ... ... .. ... 28,000 ... ... ... 97 Upper Assam 200,000 ... 10,000 ...140,200 ... 98 IX CEYLON TEA COMPANIES. PAID-UP CAPITAL, DEBENTURES NAME. Ordinary. Preference. ISSUED. PAGE / ' I Alliance 5O.OOO 36,000 ...102 Anglo-Ceylon and General Estates 250,000 ... ...167,120 ...102 Associated Estates 50,000 60,000 ...105 Augusta Estates 5,OOO 3,000 . . . 6,000 ...107 Bandarapola 18,500 ... ... 11,500 ...108 Battalgalla Estate 15,000 ... ... 4,000 .. 109 Burnside 17,600 ... 14,500 ...110 Caledonian Plantations 15,000 ... 15,000 ...112 Carolina 6o,OOO ... ... 35,000 ...113 Central Province ... 50,000 50,000 ...114 Central Ceylon 20,070 ... 15,000 ...115 Ceylon Land and Produce 21,500 ... 26,450 ... 28,738 ...117 Ceylon and Oriental Estates 55>264 46,320 ... 71,000 ...119 Ceylon Plantations ... 167,380 ... 81,080 ...121 Ceylon Proprietary Estates 76,500 .. 25,500 ... 15,000 ...124 Consolidated Estates 32,000 30,000 ... 41,500 ...125 Digalla Estates 14,000 6,000 ... ...128 Dimbula Valley 100,000 50,000 ...129 Eastern Produce and Estates 299,135 753 ...122,500 ...180 Ederapolla ... 22,000 ... ...m Galaha Estates 50,000 60,000 ... 55,000 ...134 Gangwarily Estates 20,000 ... 10,000 ... 3,000 ...185 Gartmore 24..SOO 21,500 ...136 Goomera Estates T' J 10,500 . ^* * ? J ^-/w 3,000 ... 4,000 ...137 Highland 32,000 ... ...139 Hornsey Estates 12,000 8,000 ... 10,000 ...140 Hunasgeria ... 22,728 ... ... ...141 Imperial Estates QO,OOO 142 Kandapolla ... 26,000 26,000 ... 26,000 ...143 Kelani Valley Association 16,265 ... 12,900 ...144 Kintyre Estates 45,000 20,000 ...146 Korale Estates 13,000 50,000 ...147 Lanka Plantations 150,000 ... H,700 ...14S Nahalma Estate 14,000 ... ... 10,000 ...149 New Dimbula 86,200 ...150 Nuwara Eliya Estates 158,700 ... 30,000 ...152 153- Ouvah Coffee 100,000 ...153 Panawal 17,000 5,300 ...154 Poonagalla Valley 17,500 ... 12,500 ...156, PAID-UP CAPITAL, DEBENTURES NAME. Ordinary. Preference. ISSUED. PAGE. Pundaloya ... 66,000 ... 33,000 ... ...157 Ragalla Estates ... 39,000 ... 35,000 ... 20,000 ...158 Rangalla 22,000 ... ...160 Scottish Ceylon ... ' 41,000 ... 9,000 ... . 161 Scottish Trust and Loan , . . 45,000 ... 4,6OO ...162 South Wanarajah Estates 18,000 ... 6,000 ... I2,OOO ...164 Spring Valley Coffee 80,000 ... ...165 Standard 56,000 ... ... ...167 Sunnygama Estates 50,000 ... 5,000 ... IO,OOO ...169 Tyspane 18,000 ... ... 2,OOO ...170 Yatiyantota 70,000 ... 30,000 ... . 171 THE ALLYNUGGER TEA COMPANY, LIMITED. Formed November \ 1892. CAPITAL 120,000 in shares of 10 each, 7,000 being Ordinary and 5,000 6% Preference shares, all issued and called up. Preference Shares are cumulative. The dividend on these shares is paid half-yearly, on the 3oth April and 3ist October. The Ordinary Shares were issued to the Vendor as fully paid, in part payment for the properties, he undertaking not to transfer or part with any portion of them before the 3ist December, 1896. RESERVE FUND 5,000. Directors. THOMAS MCMEEKIN, Esq., (Managing Director). JOHN McEwAN, Esq. WILLIAM LIVINGSTONE WATSON, Esq. SIR ALEXANDER WILSON. Bankers. BANK OF SCOTLAND, LONDON. Agents in Calcutta. Messrs. FINLAY, MUIR & COMPANY. Secretaries. Messrs. McMEEKlN & Co. Offices. 31, BILLITER BUILDINGS, LONDON, E.C. HISTORY. The Prospectus was issued on the ist November, 1892, and stated that the Company was formed to take over the Tea Plantations, Allynugger and Chatlapore, and also to purchase other Tea properties in India should opportunities offer. The Allynugger Plantation was B estimated to com prised, 46 1 acres, of which 527 were then under Tea ; the Chatlapore Plantation was estimated to comprise 2,943 acres of which 697 were at that time planted up. In 1895 tne Company took over some 2,000 acres of land adjoining the Allynugger property, this grant of land being now known as the South Allynugger Estate. All the properties are held direct from the Government, partly under a permanent heritable and transferable grant under the 30 years' rules, and partly under renewable pottahs or leases for 20 years. SITUATION AND AREA. The properties are in the Sylhet District of the Province of Assam. According to the last report the area of the Company's Estates now stands : ALLYNUGGER ... 1,401 acres of which 555 acres are planted. SOUTH ALLYNUGGER 2,003 ,, ,, 245 CHATLAPORE ... 2,943 782 Total 6,347 acres, of which 1,582 acres are planted. RESULTS AND DIVIDENDS. Year. Crop, Ibs. Average perlb. realised. Total Profit from all sources. Dividends. Pref. Ord. Remarks. % 7n 1892 747,249 9d. 11,500 6 7i 5,000 to Reserve. 1893 874,698 7d. 8,030 6 7i 1894 8l6,62I 8.58d. 10,685 6 10 1895 818,078 7.i3d. 6,248 6 6 Crops sold partly in London and partly in Calcutta when sold in Calcutta, freight and usual charges incurred in London have been estimated for in column shelving average price realised. The Estates also produce a quantity of Tea Seed each year. GENERAL. It is the policy of the Company to make moderate extensions of the area under Tea, the cost of the same being paid out of Revenue Account. The Teas are sold partly on the London market and partly in Calcutta, at the discretion of the Managing Directors. ACCOUNTS are made up annually to the 3ist December and issued about the following June, together with the Annual Report. DIRECTORS' QUALIFICATION. 500 of either class of Shares. VOTING POWER. One vote for each share of either class. TRANSFER FORM, Ordinary ; Fee, 2s. 6d. per deed. 3 ASSAM COMPANY. INCORPORATED BY SPECIAL ACT OF PARLIAMENT. Formed 1839. CAPITAL. Authorised 200,000 in 10,000 shares of 20 each. fssuediS? t i6o in 9,358 shares, which are fully paid. RESERVE FUND. 50,000. EXCHANGE SUSPENSE. (To provide for any loss occasioned by the fall in the value of the floating Rupee Assets) 14,500. OFFICIALLY QUOTED in the Stock Exchange List. Directors. JOSEPH GRAHAM, Esq., Q.C. (Chairman). ALBERT B. FISHER, Esq. (Deputy -Chairman). GENERAL BEADLE, R.E., FREDERICK TENDRON, Esq. H. W. WlMSHURST, Esq. (Managing Director). Bankers. WILLIAMS, DEACON & MANCHESTER & SALFORD BANK, LIMITED. Agents in Calcutta. Messrs. KILBURN & COMPANY. Secretary. H. W. WlMSHURST, Esq. Offices. 5, LAURENCE POUNTNEY HILL, LONDON, E.C. HISTORY. This Company was formed in 1839 with an authorised Capital of 500,000 in 10,000 shares of 50 each ; of these 9,358 shares were issued and 20 was paid on each. The Company at that time became possessed of large grants of land from the Government, a small portion of which was then under tea cultivation. In 1843 tne fi rst dividend was distributed, and by 1853 the cultivated area had been increased to 2,000 acres. By 1860 4,000 acres were under plant, and machinery was first started in some of the processes of manufacture. The Management of the Company was re-organised about 1866, and dividends have been paid annually since that time (excepting the years B2 1 867 to 1869), ranging from 6% up to 35% in the year 1877. In 1876 20 of the 30 liability remaining on the shares was expunged, and the other 10 was cancelled in 1888, the shares now ranking as fully paid. In 1876 there were 250 shareholders,, compared with 750 at the present time. SITUATION AND AREA. The Estates are situated in the Sibsagor District of Assam. There are 1 5 gardens, varying in extent from 404 acres up to 1,488 acres, under tea. There are large reserves of land suitable for planting up, and it is the policy of the Board to gradually extend the cultivated area out of Revenue. When the last report was issued there were 10,009 acres under tea cultivation out of 51,000 held by the Company. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last six seasons : Year. Acres in bear- ing. Crop, Sale weight Ibs. Av. Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. Remarks. 1890 7,827 2,712,274 349 9'9od. n-28d. l9>775 % IO 1891 8,347 3,049,606 369 8-57d. 9'04d. ^10,575 6 1892 8,236 2,692,179 330 9-9 id. ii'38d. l6,733 9 1893 8,550 3,027,167 360 9'39d. nxxpd. 25,573 12 2,763 to Reserve I8 94 8,870 3,251,127 368 9d i2-S5d. 48,339 20 10,000 to Reserve 1895 9,319 3,225,189 35i 9'6od. i2-33d. 36,743 20 The nett profit is calculated after expenses on new cultivation have been debited against Revenue. In the six years embraced by the above table these expenses amounted to 18,682. An interim dividend of 5% on account of season 1 896 was paid in January this year (1897). ACCOUNTS are made up annually to 3ist December, and submitted, with the Directors' report, in the June following, when the final dividend is announced to be paid on the ist or 2nd July. An interim dividend is usually paid in January. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. Shareholders must have been registered 12 calendar months. 5 to 19 shares I vote, 20 to 49 shares 2 votes, 50 to 99 shares 3 votes, IOO shares and over 4 votes, the maximum. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 5 ASSAM-DOOARS TEA COMPANY, LIMITED. Formed December , 1894. CAPITAL. Authorised. ^200,000, in 2,000 Ordinary shares of ^"100 each. Issued. 100,000, in 1,000 shares, which have been subscribed. Up to December, 1896, ^"50,000 or "50 per share had been called ; further calls of 2$ per share are to be made during 1897, making ^75 per share, which is the amount intended to be called up meantime. Managing Agents. There are no Directors of this Company, Messrs. WALTER DUNCAN & Co., of 7, West George Street, Glasgow, being Managing Agents. Agents in Calcutta. Messrs. DUNCAN BROTHERS & COMPANY. Secretaries. Messrs. WALTER DUNCAN & Co. Offices. 7, WEST GEORGE STREET, GLASGOW. HISTORY. This Company was formed for the purpose of acquiring land in Assam and in the Western Dooars District of Julpigoorie, Bengal, under the ordinary Tea Lease and Waste Land Rules, and to proceed with opening up the same with Tea and other products. AREA. At the end of 1895 the planted area was as follows : In Assam. ORANGAJULI. Planted in 1894 ... 26' Planted in 1895 ... 146 ; In Dooars. NEWLANDS. Planted in 1894 .... 324) ~ Planted in 1895 ... 214} KUMARGRAM. No planting before end of 1895. SANKOS. Planted in 1895 ... 230 GANDRAPARA. Planted in 1895 ... 266 1,206 acres. It was estimated that about 1,000 acres would be planted up in 1896, distributed over the various gardens. ACCOUNTS are made up to 3ist December, and submitted about March or April following. VOTING POWER. One vote for each share. TRANSFER FORM. Special, to be obtained from the Company ; Fee, 2s. 6d. per deed. 6 THE ASSAM FRONTIER TEA COMPANY, LIMITED. Incorporated 26tk June, 1889. CAPITAL. "285,000, divided into 28,500 shares of 10 each, all of which are issued and fully paid. Of these, 14,250 are 6% Preference shares ; the remaining 14,250 are Ordinary shares, entitled, after payment of the 6/ on the Preferred shares, to a dividend up to %/o per annum, after which the surplus profits are to be divided equally between the holders of both classes of shares until the holders of the Preferred shares shall have received a total dividend of 10% for the year, after which the whole surplus profits are to be divided amongst the Ordinary shareholders. Preference Shares are cumulative as to dividend. The dividend is paid on these half-yearly, viz., 3ist December and 3Oth June. DEBENTURES. First Issue. At the end of 1896 there were 60,000 6/o" A" Debenture bonds ofioo each remaining, 40,000 having been redeemed out of profits. These Debentures are secured by a first mortgage on all the properties held by the Company previous to the second issue of Debentures, noticed underneath, and are redeemable at par by annual drawings, 5,000 per annum being set apart out of profits for that purpose. The Company reserves to itself the right of increasing this amount to "10,000 per annum. A Second Issue of 10,000 6% "B" Debenture bonds of 100 each was made in the early part of 1896, in part payment for the Chota Hapjan Estate then purchased, and secured by a second Mortgage over the Company's original Estate, and a first Mortgage over the Chota Hapjan. They are redeemable at par by annual drawings as to "5,000 on 3 ist December, 1909, and "5,000 on 3ist December, 1910. A Third Issue of 12,500 6% "C" Debenture bonds of 100 each was made in May, 1896, in part payment for the Khobong and Laina Estates then purchased. These bonds are secured by a third Mortgage over the Company's original Estate, and a second Mortgage over the Chota Hapjan Estate and a first Mortgage over the Khobong and Laina Estates. They are redeemable at par, by annual drawings, as to "5,000 on 3 ist December, 1911, and "5,000 on 3ist December, 1912, and as to "2,500 on 3 ist December, 1913. Interest on Debentures is paid half-yearly, viz., 3 ist December and 3Oth June. 7 Directors. CHARLES SANDERSON, Esq. (Chairman), R. GORDON SHAW, Esq., F. R. BULLOCK, Esq., H. G. LINDESAY, Esq., J. ALSTON, Esq. Bankers. ROYAL BANK OF SCOTLAND, LONDON. THE AGRA BANK, LIMITED, CALCUTTA. Agents in Calcutta. Messrs. SHAW, WALLACE & COMPANY. Auditors, Messrs. W. F. TURNER, SEARLE & COMPANY. London Agents and Secretaries. Messrs. R. G. SHAW & COMPANY. Registered Offices. 88, BISHOPSGATE STREET WITHIN, LONDON. HISTORY. This Company was originally formed with a Capital of 220,000 to acquire and further extend the Estates known as Talup, Hilika, Hokonguri and Dholla (formerly known as the "R.G.S." Tea Estates) and Sookerating, situated in Upper Assam, all the Estates lying within a radius of 10 miles. The original Proprietors of these gardens accepted the whole of this Capital in part payment for the Properties. At the time the Company was formed there was an issue of 100,000 6/o First Mortgage Debentures, which is referred to above as First Issue. Up to December last extensions amounted to 503 acres, and. paid for partly out of Revenue. During 1896 the Capital of the Company was increased to ^285,000, and the Hapjan, Khobong and Laina Estates were purchased. The Hapjan Property (including 2,500 in cash handed over by the Vendors for future extensions) was paid for by the issue of 1,500 Ordinary and 1,500 Preference shares and the 10,000 " B " Debenture bonds. The Khobong and Laina Estates (including 1,500 in cash from the Vendors), by the issue of 1,750 Ordinary and 1,750 Preference shares and 12,500 "C" Debenture bonds. SITUATION AND AREA. According to most recent surveys the total area of the Company's Properties under plant amounts to 5,773 acres, and it is intended to immediately increase this to 6,000 acres. The Estates are in Upper Assam. 8 RESULTS AND DIVIDENDS. The following table shows the work- ing results of the Company since its formation : Year. Crop sale weight. Ibs. Average cost per Ibf Average per Ib. realised. Total Profit from all sources. Dividends. Pref. Ord. Remarks. 1889 2,352,584 8d. 1 1 Jd. ^34,515 10% \2\/o For redemption of Debentures. ^5,000 1890 2,386,664 8- 3 6d. ir83d. /"34,526 go/ ll/o ^"5,ooo 1891 2,330,350 8'5 4 d. i id. ^"24,761 60/0 7\/ 5,000 1892 2,298,366 9'25d. ir6od. ^"22,936 6/o 2\% 5,000 1893 2,491,738 ;-8od. 8 7 9d. ^"11,191 nil nil 5,000 1894 2,329,325 ;-68d. iO'67d. ;"28,058 1296 3/ ^5,000 1895 2,396,053 77 9 d. iO'05d. ^22,6l6 6/o 6o/ 5,ooo Interest on debentures not reckoned in " cost column," nor deducted from total profit. An interim dividend of y/o on the Preference shares has been paid for year 1896, and ,5,000 debenture stock drawn and paid. GENERAL. The Company, being in possession of a large amount of land suitable for tea cultivation, is planting up annually a moderate quantity of the same. As the cost of these extensions is mostly paid for out of the Revenue account, the capital cost per acre of the culti- vated area is diminishing each year. ACCOUNTS are made up annually to 3ist December, and usually rendered with Directors' report in or about the June following. DIRECTORS' QUALIFICATION. 250. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s 6d. per deed. ATTAREE KHAT TEA COMPANY, LIMITED. Incorporated nth August, 1887. CAPITAL. Authorised 100,000 in 20,000 shares of 5 each. Issued 66 J 4$ in 13,349 shares, which are fully paid. Directors. GEORGE WILLIAMSON, Esq. (Chairman). ROBERT LYELL, Esq. WATSON GROUNDWATER, Esq. ARTHUR THOMPSON, Esq. R. L. LOGAN, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & COMPANY. Managing Agents and Secretaries. Messrs. GEORGE WILLIAMSON & COMPANY. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. The Company was formed in 1887 to purchase the then going concerns Attaree Khat, Paneery and Dhorum Juli, which at that time comprised some 7,200 acres, 760 of which were under tea cultivation. The price paid for these Estates amounted to 41,000. In 1889 Kasu Bheel Estate, adjoining the Paneery Estate, was purchased for 14,500 in paid up shares of the Company, and in 1890 it was decided to purchase the Bhergaon Estate, within 7 miles of Attaree Khat, for 3,500, viz., 2,000 in cash and 1,500 in shares ; the cash was paid out of the profits of 1889 and 1890. In January, 1897, further Capital was issued for the purpose of extending and developing the properties. This issue is included in above statement of Capital. SITUATION AND AREA. The Properties are in the Mungledye Durrung District of Assam and comprise 9,805 acres of land, the majority held on fee simple. There are 1,962 acres in cultivation, 1,528 of which are in bearing. RESULTS AND DIVIDENDS. The following table gives the workings of the Company since its formation : Year. Acres over 4 years old. Crop Sale Weight Ibs. Av. Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. Carried forward. 1887 645 301,094 469 8-o8d. I2'78d. 5,984 % 10 l,364 1888 657 388,357 590 6-8 id. iO'o8d. 5,287 12 1,462 1889 996 593,707 6O I 7'05d. 989d. 7P42 10 464* 1890 1,239 613,813 5OO 8'96d. io-77d 4,784 7 l0 9 * 1891 1,352 712,695 533 8- 54 d. I0'38d. 5,792 7* l,24I 1892 1,356 648,999 486 9'32d. ii'3od. 5,838 9 l,902 1893 i,374 719,795 53i 8'96d. io-i3d. 3,620 7 l,369 1894 1,382 814,755 597 7'2od. iO'O5d. 9,992 12 4,513 1895 1,528 794,808 526 6'95d. 9-i9d. 7,563 12 5,336 An * 1,000 out of profits ad interim dividend of ^ towards payment for Bhergaon. % has been paid on the 896 workings. 10 GENERAL. Moderate extensions are being proceeded with each year. There are some 400 acres of land now under tea, which will be in full bearing in the course of the next three or four years. ACCOUNTS are made up annually to 3ist December and issued with the Directors' report in the May following, when the final dividend is declared. Interim dividends are paid in December. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. i vote for every 10 shares up to 200, and I for every 20 beyond that number. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BALIJAN TEA COMPANY, LIMITED. Formed 1883. CAPITAL. 35,000 in 3,500 shares of 10 each, all of which are issued, 3,000 being fully paid and the balance of 500 having 2 per share paid. Directors. RICHARD ROWE, Esq. (Chairman). F. COLLIS SANDES, Esq C. T. K. ROBERTS, Esq. E. C. ROBERTS, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Agents in Calcutta. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Secretaries. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Offices. i, GREAT WINCHESTER STREET, LONDON, E.C. HISTORY. This Company was formed in 1883 to take over, as a going concern, the property known as the Balijan Estate. There were at the time of purchase some 376 acres under cultivation, a large proportion of which was young tea. SITUATION AND AREA. The property is in the Debrooghur Dis- trict of Assam. Since the formation of the Company extensions have been made, and, according to the last report, the amount of land now under tea totals some 625 acres, nearly all of which is in full bearing. The Estate comprises a total area of some 1,056 acres of land. 1 1 RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last six years : Year Acres in bearing. Crop sale weight. Av. Ibs. per acre. Av. cost per Ib. Av. per Ib. realised. Total Profit from all Divi- dend. Remarks. Ibs. sources. 1890 476 166,480 1,450 5 1891 457 1 74454 382 io-68d ii-57d 635 2 1892 457 224,194 491 948 3 I8 93 547 267,305 488 9 a 9 d 3 nil. 1894 547 255,821 468 9'32d i4-i8d 4,682 10 1895 580 272,980 47 8 7 id i2'68d 4,515 10 3,051 carried forward The 1890 and J892.frops were sold partly in London and partly in Calcutta. The crops oj 1894 and 1895 were sold in Calcutta, and cost of freight to London and home expenses have been estimated for in the above calculations. An ad interim dividend of 5% was paid on Qth November, 1896. During the period embraced in the above table some large ex- tensions were made, which were all debited against Revenue account, and are included in the column " Average cost per Ib." ; this has had the effect of considerably reducing the capital cost per acre. ACCOUNTS are made up annually to 3ist December, and submitted, with the Directors' report, in the March or April following, when the final dividend is announced. DIRECTORS' QUALIFICATION. 200 fully-paid shares. VOTING POWER. One vote for one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BARAOORA TEA COMPANY, LIMITED. Formed October, 1894. CAPITAL. 80,000 in 8,000 shares of 10 each, 4,000 of which are 6% Preference shares and 4,000 Ordinary. All issued and fully paid. Preference Shares are cumulative, and have priority as to Capital as well as dividend. No shares hereafter to be created shall rank above, or pari-passu, with the 4,000 Preference shares. The Preference dividend is paid half-yearly, viz., on the ist January and 1st July. RESERVE FUND. 2,907. 12 Directors. ROBERT HART, Esq. (Chairman), A. A. BULL, Esq., JOHN HART, Esq. Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. FINLAY, Mum & COMPANY. Secretaries. Messrs. P. R. BUCHANAN & COMPANY. Offices. 45, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed in 1894 to acquire the three going concerns known as The Baraoora Estate, which included the South Baraoora Estate and the Kyecherra Estate, situated in the Sylhet District in the Province of Assam ; and to further extend the same under tea cultivation. The properties were taken over as from the 1st January, 1894, the Vendors taking the whole of the share Capital in full payment for the same. AREA. The Estates comprise about 2,500 acres, of which, at the commencement of 1896, some 1,350 acres were under tea, nearly all of which was in bearing. WORKINGS AND RESULTS. Year. Acres Crop in Gross bearing. ; Weight, Ibs. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. Balance to Reserve. 1894 1,305 581,473 5'02d. 8'iid. 7>774 6% 6% 2,715 1895 1,325 6/3,602 4'6;d. 6'95d. 6,59; 6% 10% l92 RESERVE FUND. Under the Agreement for the sale and purchase of the Estates, dated I2th October, 1894, it was provided that a Reserve Fund of 5,000 should be set aside out of the profits of the Company for the equalising of dividends and for investment. During the two years of the existence of the Company the balance of profit, after payment of the above dividend, has been placed to credit of Reserve Fund and not carried forward as profit to the succeeding year's accounts. ACCOUNTS AND DIVIDEND. The accounts are made up annually to the 3 ist December, and issued in the June or July following. For the year 1896 an interim dividend of 3%, on both classes of shares, was paid on the ist January, 1897. VOTING POWER. Each member one vote. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 13 THE BARGANG TEA COMPANY, LIMITED. Incorporated loth January, 1896. CAPITAL. Authorised 40,000 in 2,700 Ordinary and 1,300 6% Preference shares of 10 each. Issued 30,000 in 2,000 Ordinary and 1,000 Preference shares, all fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. Directors. R. B. MAGOR, Esq. (Chairman), D. LANDALE, Esq. H. TOD, Esq. A. G. WATSON, Esq. Bankers. MERCANTILE BANK OF INDIA, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & COMPANY. Secretaries. Messrs. GEORGE WILLIAMSON & COMPANY. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed with an issued Capital of 27,070 to take over as from the ist January, 1895, the properties at that time belonging to the Bargang and Kettela Tea Companies, registered in India. The Estates were going concerns. Towards the middle of 1896 it was decided to issue 2,930 additional Capital, in order to provide for the outlay incurred on account of new extensions that had been already made, and for the cost of further developments. SITUATION AND AREA. The Estates are in the Durrung District of Assam. At the beginning of January, 1896, the Company held 793 acres planted up, of which 670 were four years old and upwards. RESULTS AND DIVIDEND. For the season 1895 a crop of 275,875 Ibs. was packed at an average gross cost of 8'5od. per Ib. This was disposed of at an average price of 9iJd. per Ib., resulting in a net profit of 1,625, from which a dividend of 6/ Q was paid on both classes of shares. A dividend of 3% has been paid on the Preference shares for the half-year ending 3ist December, 1896. ACCOUNTS are made up annually to 3ist December, and in 1896 were presented at the beginning of July. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. BORELLI TEA COMPANY, LIMITED. Incorporated i^th February, 1874. CAPITAL. Authorised 120,000 in Ordinary and 5% Preference shares of 10 each. Issued 84,680 in 7,817 Ordinary shares and 651 Preference shares. Preference Shares are Cumulative. Directors. J. A. N. MARTIN, Esq. (Chairman). W. H. BENNETT, Esq. GEORGE FREDERICK MOORE, Esq. ROBERT LYELL, Esq. (Managing Director). Bankers. THE AGRA BANK, LIMITED. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed with an issued Capital of 75,000, to acquire the Tea Estates known as Panupota and Bokagaon. They are held partly under rent payable to Government, but principally under " fee simple " tenure. SITUATION AND AREA. The Estates are in the Tezpore Durrung District of Assam, and comprise an area of 7,073 acres, of which 1,581 are under cultivation. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last seven years : Year. Acres 4 years old and over. Crop. Sale weight. Ibs. Average Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1889 988 632,086 645 8'07d. iro6d. 7,897 % IO 1890 988 543,615 555 grigd. i r63d. 5,517 7 1891 992 652,089 665 8yod. I0'34d. 4,456 6 1892 992 450,793 461 io-77d. I2'48d. 3,206 5 1893 996 487,559 496 io-65d. io-66d. 9 nil 1894 1,122 485,647 438 9'98d. ir65d. 3,400 4 1895 1,235 617,546 508 7 -6 5 d. 8-88d. 3,H6 4 An ad interim dividend of 2/ Q has been paid on the 1 896 workings. GENERAL. Extensions have been made out of Revenue during the 15 last few years on a fairly large scale, and there are now nearly 400 acres already planted up, which will be coming into bearing during the next few years. ACCOUNTS are made up annually to the 3ist December, and issued, together with Directors' report, about the May following. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. i vote for every 5 shares up to 100, and i vote for every 10 shares beyond that number. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BORHOLLA ASSAM TEA COMPANY, LIMITED. Formed April 29^, 1896. CAPITAL Authorised. 50,000 in 5,000 shares of 10 each. Issued. 32,000 in 1,600 6/o Preference shares, and 1,600 Ordinary shares, all of which are fully paid. Preference Shares are cumulative, the dividend on them is paid half-yearly, viz., in December and June. Directors. Lord KlNGSALE (Chairman], CHARLES L. P. WHITE, Esq., F. W. JAMIESON, Esq., H. L. TOTTENHAM, Esq. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. BARLOW & COMPANY. Tea Brokers to the Company. Messrs. Gow, WILSON & STANTON. Secretary. HERBERT R. BROWNRIGG, Esq. Offices. 9, MINCING LANE, LONDON, E.C. HISTORY. The prospectus of this Company was dated 29th April, 1896. It was formed to purchase from the Brahmapootra Tea Co., Limited, as from the 1st January, 1896, the Borholla Tea Estate, situate in the Golaghat District of Assam. This property was and had i6 been for some years a going concern, complete with machinery, buildings, &c. AREA. The Estate comprises about 2,932 acres, of which 1,538 are held in fee simple, and 1,394 are held under leases, all direct from the Government, and the greater part renewable in perpetuity under the Government regulations. The cultivated area comprises 520 acres, 510 of which are in full bearing. DIVIDEND. Preference dividend paid at rate of 6/o per annum to end of year 1896. GENERAL. It is intended to open up some of the reserve land as circumstances may permit. ACCOUNTS will be made up annually to the 3ist December. None yet issued. DIRECTORS' QUALIFICATION. 150. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BORJULI TEA COMPANY, LIMITED. The Properties of this concern were purchased by the EMPIRE OF INDIA AND CEYLON COMPANY, LIMITED. THE BOROKAI TEA COMPANY, LIMITED. Formed 1864. CAPITAL. Authorised. 100,000 in 10,000 shares of 10 each, of which 4,356 have been subscribed and are fully paid. RESERVE FUND. 7,000. Directors. C. A. DUNCAN, Esq. (Chairman). HORACE MANN, Esq. W. H. SIMPSON, Esq. Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. JARDINE, SKINNER & COMPANY. Secretary. ALEXANDER NEISH, Esq. Offices. 150, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed to acquire the Borokai Estate in the Province of Cachar, for the cultivation and manufacture of tea. The total land held by the Company amounts to nearly 5,000 acres, of which 1,083 acres are under tea cultivation ; the land suitable for tea is nearly all under plant. RESULTS AND DIVIDENDS. The following particulars are taken from the last six annual reports issued, and give details of the workings of the Company since the 1st April, 1890: Year ending 3ist March. Acres in bearing. Crop. Gross Weight. Average per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. Ibs. 7 /o 1891 280,480 8'58d. I I*29d. 3>398 7k 1892 374400 8-igd. 11-326. 5,087 10 1893 1,055 336,320 318 9 s i id. U79d. 3,983 10 1894 1,083 363,520 335 6'9/d. 8-85d. 3P95 7 1895 1,083 304,160 280 8'2od. 9'4od. 2,362 6 1896 1,083 329,280 304 ;-i8d. 7'93d. l,262 3 ACCOUNTS are made up annually to 3ist March, and submitted in April. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote per share up to 10, an additional vote for every 5 shares up to 100, and one for every 10 beyond the first 100 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. BRAHMAPOOTRA TEA COMPANY, LIMITED. Formed 1865. CAPITAL. 120,000 in 24,000 shares of 5 each; all the Capital has been issued and fully paid, but 1,100 shares have been forfeited, so that the Capital now stands in the books of the Company as 114,500 in 22,900 shares. DIVIDENDS. An interim dividend has usually been paid in December, the final dividend being declared in May. RESERVE PROFIT. 24,500. iS Directors. HUGH MAIR, Esq. (Chairman). J. M. ROBERTSON, Esq. W. BLASSON, Esq. JOHN MAIR, Esq. Bankers. THE NATIONAL BANK. Agents in Calcutta. Messrs. FiNLAY, Mum & COMPANY. Secretary. ALFRED LIDINGTON, Esq. Offices. 8 1, GRACECHURCH STREET, LONDON. HISTORY. This Company was formed in 1865. In 1890 the Capital was subdivided into shares of 5 each, and since that time has remained as stated above. In the early part of 1896, the Directors accepted an offer of 25,000 for their Borholla Estate, which was an outlying property. The gardens which the Company now own form a group. SITUATION AND AREA. The properties are in the Sibsagor district of Assam and comprise some 3,593 acres under cultivation. RESULTS AND DIVIDENDS. Year. Acres in bearing. Crop Sale Weight. Ibs. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. % Balance carried to Reserve profit. 1890 2,848 1,462,000 6Jd. I I '07d. 28,445 20 l5,482 1891 2,968 1,558,958 6Jd. 9ld. 19,527 17 15,545 1892 3,080 i,577>53i 6fd 9|d. 22,646 18 l7,58l 1893 3,234 2,019,224 5|d 7*d. 14,564 I2J 17,833 1894 3>39Q 1,866,651 5jd. 9 d. 28,554 20 23,487 1895 3,593 2,175,178 4-8 id. ;-i4d. 21,631 IS 24,508 An ad interim dividend of 8% has been paid on account of Season 1 896. ACCOUNTS are made up annually to 3ist December, and usually submitted with Directors' report towards the end of the following May. DIRECTORS' QUALIFICATION. 100 shares. VOTING POWER. One vote per share. TRANSFER FORM. Ordinary ; Fee, 2s 6d per deed. 19 THE BRITISH ASSAM TEA COMPANY, LIMITED. Formed 1891. CAPITAL. Authorised. 50,000 in 5,000 shares of 10 each, of which 3,000 are Ordinary and 2,000 6% Preference shares. Issued. 35,000 in 2,000 Ordinary and 1,500 Preference shares, all of which are fully paid. Preference shares are cumulative. The dividend on them is paid half-yearly, on the 3Oth June and 3ist December. Directors. FREDERICK G. PAINTER, Esq. (Chairman). C. F. CROWDER, Esq. LORD KINGSALE. Bankers. CAPITAL AND COUNTIES BANK, LIMITED. Agents in Calcutta. Messrs. McLEOD & COMPANY. Secretary. D. M. STEWART, Esq. Offices. 3, EAST INDIA AVENUE, LONDON, E.C. HISTORY. The prospectus was issued in March, 1891, and stated that the Company was formed to acquire and work the " Tezpore Old Concern," which was at that time in full working order. The names of the properties included in this concern were Addabari and Balipara Estates. Part of the lands are held under fee simple tenure and the rest under renewing leases direct from Government. Previous to the ist March, 1896, 21,000 of Debentures were current, and these, having matured at that date, were paid off as to 6,000 in cash and 15,000 by the issue in their stead of the Preference shares above mentioned. The ordinary share capital of the Company was at the same time increased by the allotment at par of 323 shares at 10 each, thus completing the issue of ordinary capital originally contemplated. AREA. The estates comprise a total area of 4,963 acres, of which 1,100 are under tea cultivation, and about 900 are in bearing. Since the formation of the Company 238 acres (included in the above figures) were planted up out of Revenue. C2 20 RESULTS AND DIVIDENDS. Year. Acres in bear- ing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Remarks. 1801 848 461,915 550 7'47d. 8- 93 d. 2,996 7?% ^"560 carried for- y ward. 1892 848 376,106 447 8'4id. 9 -8 5 d. / 2 >77o 6o/ ^679 carried for- ward. 1^93 82 5 332,200 409 io-77d. 8'22d. Nil. 4,714 loss > debited to revenue A/c. 1894 835 412,782 503 8'4id. 989d. 2,546 Nil. Debit of revenue account re- d u c ed to ^2,835. 1895 892 470,406 538 6-93d. 7- 9 6d. 2,106 Nil. Debit of revenue account re- duce d to 1,987- Debenture interest not calculated in above table. An ad interim dividend of 3% has been paid on account of 1896 workings. ACCOUNTS are made up annually to 3ist December, and submitted with Directors' Report about the May following. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. i vote to each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BRITISH DARJEELING TEA COMPANY, LIMITED. Formed September \ 1895, CAPITAL. 50,000 divided into 50,000 shares of^i each, 35,000 of which are issued and fully paid. DEBENTURES. 25,000 in bonds of 50 and 100, bearing interest at the rate of 6%, payable half-yearly on the 1st April and 1st October. Repayable at par on July, 1920, the option being reserved to the Company, at any time after the 1st January, 1900, to pay off all or any of them at 105, on giving six months' notice. These Debentures are secured by a Mortgage deed on the Estates belonging to the Company at the time of issue. 21 Directors. R, J. BOYLE, ESQ. (Chairman), W. F. RABAN, Esq. SYDNEY THOMPSON, Esq., LOFTUS R. TOTTENHAM, Esq. Bankers. LONDON JOINT STOCK BANK, LIMITED. Managing Agents in India. Messrs. DAVENPORT & COMPANY, CALCUTTA. Secretaries. Messrs. LLOYD & COMPANY. Offices. 7, FEN COURT, LONDON, E.C. HISTORY. The Company was formed for the purpose of acquiring and working the Tea Estates known as, West Darjeeling, Nigali, and Pusumbing, situated in the Darjeeling district, in the Province of Bengal ; the price paid for the Properties was as follows : West Darjeeling and Pusumbing, 39,197 i8s. 4d. ; Nigali, 6,000, in fully paid shares. All the Estates are freehold. AREA The West Darjeeling Estate comprises 2,800 acres, of which 639 are under Tea. ThePusumbing Estate ... ,, 1,438 542 The Nigali Estate 577 288 Total 4,815 1,469 The general elevation of the "Estates ranges from 3,000 to 5,500 feet. The uncultivated land comprises a large quantity of primeval forest, practically untouched, except to procure timber, &c. ACCOUNTS will be made up annually. DIRECTORS' QUALIFICATION. Ordinary shares. Nominal amount of ;ioo. VOTING POWER. One vote for each share held. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BRITISH DOOAR8 TEA COMPANY, LIMITED. Formed September, 1894. CAPITAL Authorised. ,47,000 in 4,700 shares of 10 each. Issued. 32,000 in 3,200 shares of 10 each, 450 of which (issued to Vendor) are fully paid ; the remaining 2,750 shares had 7 per share paid on 3ist December, 1896. 22 DEBENTURES. 15,000 6% First Mortgage Debentures are authorised, and /9,75O are issued. These are repayable in ten years from date of first issue, viz., 27th April, 1895, but the Company has power to redeem them earlier at a premium of 5^ on giving six months' notice. The balance of the Debentures authorised has been arranged for. Directors. FREDERICK G. PAINTER, Esq. (Chairman], LORD KINGSALE, HENRY A. ADKIN, Esq. Bankers. THE DELHI & LONDON BANK, LIMITED. Agents in Calcutta. Messrs. McLEOD & COMPANY. Secretaries. Messrs. D. M. STEWART & COMPANY. Offices. 3, EAST INDIA AVENUE, LONDON, E.C. HISTORY. This Company was formed in 1894 to acquire certain Government Leasehold Grants of Land in the Western Dooars District of Bengal, covering an area of 9,000 acres, or thereabouts, at a price of \ per acre. The land is situated about 30 miles from the Cooch Behar States Railway Terminus. It was intended in the first place to plant up with tea some 2,000 acres, the estimated cost of the same being 44,500, including buildings and machinery. In the Directors' first report and statement of accounts, which covered a period of 15 months, viz., from the commencement of the Company to 3ist December, 1895, it was stated that the expenditure had amounted to 15,491 and some 500 acres had been planted. A further 700 acres were planted in 1896. DIVIDENDS. As the plant cannot be producing leaf for manufacture for another two or three years, no dividend can be expected for the present. ACCOUNTS will be made up annually to the 3 1st of December, and presented together with the Directors' Report about the April following. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BRITISH INDIAN TEA COMPANY, LIMITED. Formed 1864. CAPITAL. Authorised 80,825 in 16,165 shares of 5 each, 12,165 f which are Ordinary, and 4,000 Preference shares. Issued 77,325 in 12,165 Ordinary shares and 3,300 Preference shares, all fully paid. Preference shares are cumulative, and have priority as to Capital as well as profits. The dividend on them is payable half-yearly, viz., 1 5th January and I5'th July. OFFICIAL QUOTATION. Only the Ordinary shares are at present quoted. Directors. A. CAPEL CARNEGY ARBUTHNOTT, Esq. (Chairman). EDWARD WAHAB, Esq. ARTHUR ODLING, Esq. E. PARKER YOUNG, ESQ. JOHN HUDSON, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Agents in Calcutta. Messrs. BALMER, LAWRIE & COMPANY. A uditors. Messrs. TURQUAND, YOUNGS & COMPANY. Secretary. HENRY EARNSHAW, Esq. Offices. 14, ST. MARY AXE, LONDON, E.C. HISTORY. The Company was originally formed in 1864, with a Capital of 250,000, in fully paid shares of 20 each. In 1867 25,000 10% Debentures were authorised, and 11,836 issued for the purpose of working the Company, the whole of the original Capital having been sunk or lost. In 1891 the Sildoobie and Roseabell Estates were disposed of, the amount received in payment being used for extensions. In 1892 the Capital was reduced to 60,825 by altering the denomination of the 20 shares into 5. In order to do away with the remaining 11,136 Debenture Mortgage on the Property, it was 2 4 decided in 1895 to increase the Capital by the creation of 4,000 5% cumulative Preference shares but only 3,300 were issued, which was sufficient to redeem the Debentures and provide the stipulated premium of 50%, arranged at the time of issue of the Stock in 1867, when Tea Properties were at a very low ebb. This premium was to be paid off out of profits during the three following years. The Properties are held partly under leasehold tenure, but principally under " fee simple " tenure. SITUATION AND AREA. The Company owns In Assam, the Sessa, Mankotta, and Rhea Estates, comprising 2,442 acres, nearly all of which is held on fee simple tenure ;-of this, 406 acres are under tea cultivation. In Cachar Five Estates, the principal ones being : Dwarbund, Kharspore and Urrunabund, comprising 4,947 acres, about 2,000 of which are leasehold, and the balance held on fee simple tenure. The amount under plant is 1,283 RESULTS & DIVIDENDS. The following table shows the workings of the Company during the last six years. Year ending 30th April. Acres in full bearing. Crop Sale Weight. Ibs. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividends. Pref. Ord. 1891 1,349 596,379 77 9 d. 979d. A,957 33. per share 1892 I4H 675,193 7-i 3 d. 7'43d. 8 3 6 nil 1893 1,504 596,840 7*23d. 8'9od. A,l64 3% 1894 1,630 657,540 7-i6d. 7'53d. l,OI3 nil 1895 1,583 753,219 5- 9 8d. 8'46d. 7,788 6% 1896 1,568 785,817 5'Sid. 7'iod. tS,2i5 *S/ 3/0 5% t/1,822 paid out of profits, being one-third of premium on Debenture stock done away with in 1895. * At the rate of. ACCOUNTS are made up annually to the 3Oth April, and submitted with Directors' report about May or June following. An interim report is issued in January. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for every share of either kind, with a maximum of ,1,000. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 25 THE BUDLA BETA TEA COMPANY, LIMITED Incorporated i^th November^ 1894. CAPITAL. ,45,000 in 4,500 shares of 10 each all of which are fully paid. 3,000 shares were issued to the original proprietors of the Budla Beta garden and the remainder were subsequently issued to the original proprietors of the Kanjikoah garden in full payment for the estates acquired. DEBENTURES. ^"10,000 6/ Debentures of 100 each. These are secured by a first mortgage ovej: the whole of the Company's property (present and future) in favour of the trustees, Frederick Reinwald Bullock, Esq., and Robert Gordon Shaw, Esq., and will be redeemable after five years from the date of issue, at par, at the rate of not less than 10 debentures each year. The Debentures to be paid off will be decided by drawings. The Company reserves to itself the right to pay off any larger number of Debentures after the first five years from date of issue on giving six months notice by advertisement in The Times. Interest on Debentures is paid half-yearly, viz., in June and December. MORTGAGE. The Kanjikoah property was acquired as above, subject to a mortgage of 5000 at 6/ per annum interest. Directors. ROBERT GORDON SHAW, Esq. CHARLES WILLIAM WALLACE, Esq. JOHN ALSTON, Esq. Bankers. THE ROYAL BANK OF SCOTLAND. Agents in Calcutta. Messrs. SHAW, WALLACE & COMPANY. Secretaries. Messrs. R. G. SHAW & COMPANY. Offices. 88, BISHOPSGATE STREET WITHIN, LONDON, E.C. HISTORY. The Company was formed at the end of 1894, with a Capital of 30,000, to acquire, work, extend and develop, as from 1st January, 1895, the Budla Beta Tea gardens situated in the Luckimpore district of Assam. At the time of purchase the estate was a going concern and amply provided with suitable buildings, machinery and labour. It is situated close to one of the stations on the Assam railway. The 26 Debentures were issued soon after the Company was formed to take advantage of an opportunity of acquiring two fee-simple grants of land, adjacent to the Budla Beta estates, aggregating upwards of 3,000 acres, and to extend the cultivation of the Company's estate up to 1,000 acres. In the event of further sums being required to complete these proposed extensions the same are to be provided out of the profits of the Company. In October, 1896, the Capital was increased from ^30,000 to ^"45,000, in order to purchase, for 1,500 shares, the Kanjikoah estate. AREA. The estates comprise an area of about 4,694 acres, of which 1,204 are under tea. RESULTS AND DIVIDENDS. During 1895, the first year of the Company's workings and before the acquisition of the Kanjikoah properties, a crop of 124,558 Ibs. of tea was produced, which sold at an average of nearly is. 9d. per Ib. This resulted in a net profit of ^2,516, leaving 2,090 after deducting interest on Debentures and income tax ; this was distributed as follows : ^"1,500 in payment of a dividend of 5%, and $90 carried forward. ACCOUNTS are made up annually to the 3ist December, and are issued together with the Directors' Report about the June following. DIRECTORS' QUALIFICATION. 100. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE BUXA-DOOARS TEA COMPANY, LIMITED. Incorporated \Jth August, 1895. CAPITAL. 50,000 in 5,000 shares of 10 each, all of which have been subscribed. 500 of these were issued as fully paid to the Vendors, and the remaining 4,500 have 5 per share paid, the balance to be called up in amounts not exceeding 2, at intervals of not less than two months, and extending up to the end of 1898. Directors. R. GORDON SHAW, Esq., J. ARTHUR HUMPHERY, Esq., C. W. WALLACE, Esq. Bankers. Messrs. SMITH, PAYNE & SMITHS. Agents in Calcutta. Messrs. SHAW, WALLACE & COMPANY. 27 A uditor. EVAN A. JACK, Esq. Secretaries. Messrs. R. G. SHAW & COMPANY. Offices. 88, BISHOPSGATE STREET WITHIN, LONDON, E.G. HISTORY. The Company was formed to acquire three Government grants of Leasehold Lands, situated in the Western Dooars District, and to cultivate and manufacture tea thereon. The grants are situated about 25 miles from the Cooch Behar State Railway. This Railway is being extended and will shortly pass within six miles of the properties. AREA. The Estates comprise some 5,000 acres, of which 789 are now planted up, 500 acres having been brought into cultivation since the Company was formed. ACCOUNTS will be made up annually to the 3ist December, but so far none have been issued. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CACHAR AND DOOARS TEA COMPANY, LIMITED. Formed 17 th October, 1895. CAPITAL. Authorised. 200,000 in 20,000 shares of 10 each, half of which are Ordinary, and half 6% Preference shares. Issued. 153,000 in 7,650 Ordinary and 7,650 6% Preference shares. Preference shares are cumulative, and also rank in priority to the Ordinary shares in respect of Capital. The dividend on them is payable half-yearly, on 1st December and 1st June. OFFICIAL QUOTATION in Stock Exchange list for Ordinary shares numbered 10,001 to 15,100, and for Preference shares numbered I to 5,100. Directors. JOHN M. MACDONALD, Esq. WILLIAM O. BELL-IRVING; Esq. Major JOHN F. C. HAMILTON. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. 28 Agents in Calcutta. Messrs. JARDINE, SKINNER & COMPANY. Secretary. THOMAS HOARE, Esq. Offices. 3, LOMBARD STREET, LONDON, E.G. HISTORY. The prospectus was issued I7th October, 1895, and stated that the Company was formed to purchase as from 1st January of that year, as going concerns, the Properties in Cachar belonging to the Cachar Company, Limited, and in the Dooars belonging to the Matelli Tea Company, Limited ; this latter Company was at the time registered in India. The price paid for the Properties was ,51,000 for the Cachar division, and 86,000 for the Matelli, totalling 137,000, thus leaving, out of the amount issued, 16,000 for working Capital and cost of proposed extensions. The Vendor accepted shares, in equal pro- portions, to the value of 5 1,000 in part payment. The Cachar Property was known as the Silcoorie Estate. When the Company was formed, it was intended to extend the cultivated area in the Cachar district by another 1,000 acres, this new planting being called the Polai division, the land being previously included in Silcoorie Estate. AREA. The Company holds in Cachar some 15,296 acres, of which 2,529 acres are under plant, 2,074 being in bearing. The Dooars Property comprises 2,500 acres, of which 1,351 are under tea, 1,256 being in bearing. RESULTS AND DIVIDENDS, 1895. On Silcoorie a crop of 6 1 2,320 Ibs. of tea was produced, and sold in Calcutta at a profit equivalent to 4,846, whilst on the Matelli Garden 761,440 Ibs. of tea were produced, and likewise sold in Calcutta for a profit equivalent to 9,655 at an ex- change of is 2d per Rupee; the total profits on the two concerns, adding transfer fees, &c., being 14,508; this sum included profit on tea seed sold. Out of this, preliminary expenses of the Company, Directors' remuneration, office expenses, income tax, &c., totalling about 2,500, were paid, leaving a balance of i 1,017, out f which dividends of 6/ Q on the Preference and 8% on the Ordinary shares were paid, the balance 1,460 being carried forward. ACCOUNTS are made up annually to 3 1st December, and issued about March. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s 6d per deed. 2 9 THE CHANDPORE TEA COMPANY, LIMITED. (SYLHET.) Registered 8th August, 1890. CAPITAL. 32,000 in 3,200 shares of 10 each; all issued and fully paid. RESERVE FUND. 4,733. Working Capital, 2,267. Directors. Major-General W. M. CAMPBELL. J. R. PEDLER, Esq. ARTHUR ODLING, Esq. Bankers. THE UNION BANK OF LONDON, LIMITED. Agents in Calcutta. Messrs. BARRY & COMPANY. Secretaries. Messrs. C. A. GOODRICKE & Co. Offices. WEST INDIA HOUSE, 96, LEADENHALL STREET, E.C. GENERAL. This Company was formed to take over, cultivate and further extend, the Chandpore Tea Estate, in the Sylhet district, comprising 3,106 acres, of which about 808 acres were under cultivation ; this cultivated area has since been increased and now reaches 1, 060 acres. RESULTS AND DIVIDENDS. The following table gives particulars of the workings of the Company during the last three years : Year. Acres in bearing Crop Sale Weight. Ibs. Aver- age Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. % Remarks. 1893 808 449,669 562 6'89d. 1 07 id. 7>288 15 1,500 to Reserve. 1894 808 354,809 443 7'64d. 1 0-45 d. A,324 15 1895 864 410,321 480 6-8 id. 9 '27d. A,422 15 ACCOUNTS are made up annually to 3ist December, and submitted with the Directors' report about June following. An interim dividend has generally been paid about 1st February, on account of the previous year's working, and the final dividend is announced when the report is issued. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote, one share. TRANSFER FORM, Ordinary ; Fee, 2s. 6d. per deed, CHARDWAR TEA COMPANY, LIMITED. Incorporated i6th December, 1895. CAPITAL. 15,000 in 1,500 shares of 10 each, 1,000 of which are Ordinary and 500 Preference shares ; all issued and fully paid. Preference shares are 6/ Q cumulative, and have priority as to Capital as well as dividend. Directors. R. LEA, Esq. G. F. MOORE, Esq. A. G. WATSON, Esq. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & COMPANY. Secretaries. Messrs. GEORGE WILLIAMSON & COMPANY. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed to acquire as from 1st January, 1896, the properties previously known as the Chardwar and Belseri Estates. SITUATION AND AREA. The estates are in the Tezpore Durrung district of Assam and comprise an area of 1,134 acres, of which 5 1 1 are planted and nearly all in bearing. RESULTS AND DIVIDENDS. The following table shows the results of the Company's working for 1895 : Year. Acres in bearing. Crop produced. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. I8 9 5 501 214,045 427 9'38d. I2'44d. ^2,937 6% <% The teas were sold in the Calcutta market, and in the above calculations freight to London and home charges have been estimated for. There was a small quantity of tea seed, the cost of which is included in the " cost " column of the above table, but not in the "price realised " column. Ad Interim Dividends of 3% on the Preference and $/ Q on the Ordinary shares have been paid on the 1896 workings. ACCOUNTS are made up annually to 3ist December, and issued, together with the Directors' report, about the May following. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 3' THE CHARGOLA TEA ASSOCIATION, LIMITED. Formed July, 1891. CAPITAL. Authorised 250,000 in shares of 1 each, of which 1 30,000 are J/o Preference shares and 120,000 Ordinary shares. Issued. 153,017, in 81,007 Preference and 72,010 Ordinary shares ; all fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. This is paid half-yearly, viz.: 1st April and ist October. RESERVE FUND. 3,000. OFFICIAL QUOTATION on the London Stock Exchange granted for both denominations of shares : Ordinary Nos. I to 72,010, Preference Nos. i to 81,007. Directors. W. L. WATSON, Esq. (Chairman). Colonel R. S. PALEY, H. S. CHOLMELEY, Esq., H. W. BRYANS, Esq., A. BRYANS, Esq. Bankers. THE AGRA BANK, LIMITED. -Agents in Calcutta. Messrs. FlNLAY, MuiR & COMPANY. Managing Agents and Secretaries. Messrs. P. R. BUCHANAN & COMPANY. Offices. 45, LEADENHALL STREET, LONDON, E.C. HISTORY. The Prospectus was issued in July, 1891 ; it stated that the Company was formed to amalgamate, as from the previous ist December, the businesses of the Chargola Tea Company, Limited, The Maguracherra Tea Company, Limited, The Hingajea Tea Company, Limited, and the Singlacherra Estate ; also to purchase other properties, should any favourable opportunity occur. SITUATION AND AREA. The properties are situated in the Sylhet District of the Province of Assam, and are held from Government under the usual heritable and renewable leases. They comprise about 1 1,386 acres, of which at the end of 1895 some 3,801 acres were under tea. 32 RESULTS AND DIVIDENDS. Year end- ing 3oth Nov. Total Crop Produced, Ibs. Average cost per Ib. Average per Ib. realised. Total Profit, from all sources. Dividend. Remarks. Pref. Ord. 1891 1,656,330 6'2 3 d. 7'90d. l2,I35 7% S/o 1892 1,578,814 6-5 id. 8- 94 d. l6,334 7% 10% 3,000 to Reserve. 1893 1,564,484 6'03d. 7'07d. 7,267 r/o 4% 1894 1,448,875 6'26d. 8' 4 2d. 13,393 7% S/o 1895 1,567,941 5'99d. 7'48d. lO,3I2 7% 7% Ad interim dividends of 3^% have been paid on both classes of shares on account of 1896 workings. GENERAL. The Directors in their last report state that they were continuing to extend the area under tea, having planted 80 acres in the year ending November, 1895, making in all 918 acres planted up since the Company was formed, the cost and upkeep of same having been all charged to Revenue. This reduced the Capital cost per acre of the Company's properties from 50 95. 6d. to 38 55. 8d. ACCOUNTS are made up annually to November 3Oth, and generally submitted in the June following, when the final dividend on the Ordinary shares is declared. DIRECTORS' QUALIFICATION. 500. VOTING POWER. Each member i vote. TRANSFER FORM. Ordinary. Fee, 2s. 6d. per deed. THE CHERRA TEA COMPANY, LIMITED. Registered 2 yd June, 1880. CAPITAL. Authorised 120,000 in 12,000 shares of 10 each. Issued 119,860 in 11,986 shares, all fully paid. Directors. EDWARD DRUMMOND, Esq., J. M. REID, Esq., ROBERT HART, Esq., CHARLES SANDERSON, Esq., JOHN STEEL, Esq. Bankers. THE AGRA BANK, LIMITED. Managing Agents in Calcutta. Messrs. OCTAVIUS STEEL & Co, 33 Secretaries. Messrs. OCTAVIUS STEEL & Co. Offices. 34, OLD BROAD STREET, LONDON, E.G. HISTORY. This Company was formed in 1880 for the purpose of amalgamating and working as one concern nine estates, which were at that time cultivated to the extent of 2,474 acres ; the principal properties in this amalgamation were the Ballacherra, Narencherra, Sonacherra, Panicherra and Heroncherra. Extensions were proceeded with during the next few years, but portions of the Estates were abandoned, as they were not considered to be yielding sufficient leaf to pay for cultivation. In 1894 it was decided to allow some 500 acres to go out of cultivation for the same reason, and to centralise the manufacture by working four of the Estates as two. SITUATION AND AREA. The Estates are situated in the Cachar District of Assam, and according to the last report the plucking area is returned at 1,763 acres. RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Results. Remarks. 1890 2,474 737,416 298 92 Loss 1891 2,743 888,915 324 798 Loss . 1892 2,728 558,171 204 838 Loss 1893 2,311 717,040 310 297 Loss I8 94 i,775 551,520 318 1,530 Profit Debit at P. &L.a/c. 1,682 1895 1,763 575,120 326 846 Profit 500 written off New Factory Account LOANS. In 1895 there were loans outstanding for 6,381. ACCOUNTS are made up annually to 3ist December and issued in the following June. DIRECTORS' QUALIFICATION. 500. VOTING POWER. I vote for every share up to 10 ; an additional vote for every 5 shares beyond first 10 up to 100 shares ; and a vote for every 10 shares beyond the first ioo shares. TRANSFER FORM. Ordinary.; Fee, 2s. 6d. per deed. 34 THE CHOONSALI TEA COMPANY, LIMITED. Formed November, 1888. CAPITAL. A uthorised 50,000 in 10,000 shares of 5 each. Issued 35,000 in 7,000 shares. DEBENTURES. 5,000 7% First Mortgage Debentures, secured against the Property by deed, in 50 bonds of 100 each. Due for pay- ment at par ; 23 bonds 3ist December, 1898 ; 27 bonds 3ist December, 1899. Interest is payable on 3Oth June and 3ist December. Directors. CHARLES R. GILMAN, Esq. (Chairman), W. S. WARREN, Esq. J. DEACON, ESQ., J. H. S. OILMAN, Esq. (Managing Director). Bankers. NATIONAL BANK OF INDIA, LIMITED. Agents in Calcutta. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Secretaries. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Offices. i, GREAT WINCHESTER STREET, E.C. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company for the last seven years : Year. Crop. Ibs. Average cost per Ib. Average Total Profit per Ib. from all realised. sources. Results. 1889 1890 141,499 128,030 8'8od. 9-65d. II'27d. I0'92d. 1,461 677 Dividend of 6% Dividend of 3% 1891 393P70 9'52d. 8'07d. Loss of 2,376. 1892 273,520 I0'39d. I076d. 417 Nil. 1893 201,166 I3'05d. ii'33d. Loss of 1,442. 1894 229,339 io-6sd. icrSsd. 339 Nil. 1895 248,810 9-5 id. io-6 4 d. 1,133 Deb. Bal. reduced to 1,825. HISTORY. The Prospectus was dated 26th November, 1888, and stated that the Company was formed, with a Capital of 20,000, to acquire and carry on four going concerns near Gawhati, in Assam, consisting of 2,567 acres of land, part held on fee simple and part under lease from Government. The purchase price for these Estates was 20,000, payable as to 13,335 in cash and 6,665 m shares. In January, 1891, the authorised Capital was increased to its present 35 amount in order to acquire the Sonapore Estate, comprising 3,209 acres of land, 900 of which were under cultivation. AREA. The Estates comprise 5,776 acres, of which about 1,400 are under cultivation, nearly all in bearing. ACCOUNTS are made up annually to 3ist December, and issued about the following June, together with the Directors' report. DIRECTORS' QUALIFICATION. 100 shares. VOTING POWER. One vote for one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CHUBWA TEA COMPANY, LIMITED. Originally formed 1881, enlarged 1893. CAPITAL. 66,000 in 13,200 shares of 5 each, of which 6,600 are j/ Q Preference and 6,600 Ordinary shares ; all have been issued and are fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. The dividend on these shares is usually paid in December and May. RESERVE FUND. 10,000. Directors. ROBERT EWING, Esq. (Chairman). JAMES WARREN, Esq. W. L. WATSON, Esq. J. A. DUNCAN, Esq. J. A. LUTTMAN-JOHNSON, Esq. Agents in Calcutta. Messrs. FINLAY, Mum & COMPANY. Secretaries. Messrs. JAMES FINLAY & COMPANY. Offices. 34, LEADENHALL STREET, LONDON, E.C. HISTORY. The Company was originally formed to take over, work and extend, as from the ist December, 1881, certain going con- cerns in Assam, comprising some 560 acres under cultivation. The paid-up Capital at that time was 36,140. Extensions were imme- diately taken in hand, and by 1889 the cultivated area amounted to about 850 acres, an increase of about 50% since the formation of the Company, all paid for out of Revenue. In 1893 the Company was enlarged so as to absorb the Nonoi Tea Company, as from the 1st P2 36 December, 1892, and the Capital was increased to 66,000 for this object SITUATION AND AREA. The Estates are situated in the Dibrugarh and Nowgong Districts of Assam, and some 1,929 acres are under tea cultivation, nearly all in bearing. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company for the last three years : Year ending 3o;h Nov. Crop, Gross Weight. Ibs. Average cost per Ib. Average per Ib, realised. Total Profit from all sources. | Dividend, j ! "Remarks. Pref. Ord. 1 1893 912,595 7'05d. 8'5od. 5,518 % 7 o/ /O ! 8 1,000 to Reserve 1894 884,307 7-8;d. io*55d. 9,878 7 10 4,000 to Reserve 1895 932,960 7'22d. 8'44d. 4,832 7 8 The above calculations are made on the gross weight of the crops. Ad interim dividends of 3|% on both classes of shares have been paid on account of 1896 workings. GENERAL. It has been the policy of the Company to gradually increase the area under cultivation by planting out some few acres as occasion might present itself. The most recent plantings have been made on the Nonoi Division, comprising some no acres, during the last three years. When the Company was originally formed the Capital cost per acre under cultivation amounted to about 64 ; it now stands at 34. ACCOUNTS are made up to the 3Oth November in each year, and generally issued in the March or April following. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CONSOLIDATED TEA AND LANDS COMPANY, LIMITED. Formed June, 1896. CAPITAL. Authorised 2,000,000 in shares of 10 each, divided as follows : 100,000 5% Cumulative ist Preference shares of 10 each, 40,000 7% Cumulative 2nd Preference shares of 10 each, 60,000 Ordinary shares of 10 each. Issued 1,800,000, which includes both issues of Preference shares and 40,000 of the Ordinary shares. The Preference shares are fully paid, the Ordinary having only 2 paid, the balance to be called as required, within a period probably not exceeding five years from issue. 37 Preference shares. All these are cumulative ; the 1st Preference rank in priority to the 2nd Preference and Ordinary shares both as to Capital and dividend. The 2nd Preference rank in priority to the Ordinary shares both as to Capital and dividend. OFFICIAL QUOTATION. The following shares are quoted on the London Stock Exchange: Ordinary, Nos. 153,334 to 180,000; 1st Pre- ference, 33,334 to 100,000; 2nd Preference, 113,334 to 140,000. Directors. Sir JOHN MuiR, Bart. (Chairman]. Field-Marshal LORD ROBERTS. Sir ROBERT DRUMMOND MONCREIFFE, Bart. P. R. BUCHANAN, Esq. WILLIAM ALLAN COATS, Esq. A. B. MURRAY, Esq. A. M. BROWN, Esq. WILLIAM WALKER, Esq. ROBERT SCOTT, Esq. Bankers. THE BANK OF SCOTLAND. THE ROYAL BANK OF SCOTLAND. THE BRITISH LINEN COMPANY BANK, LIMITED. THE CAPITAL & COUNTIES BANK, LIMITED. THE NATIONAL BANK OF INDIA, LIMITED. Agents in Calcutta and Colombo. Messrs. FINLAY, MUIR & COMPANY Secretaries. Messrs. JAMES FINLAY & COMPANY. Offices. 22, WEST NILE STREET, GLASGOW. HISTORY. The Prospectus was dated 26th June, 1896, and stated that this Company was formed to take over as going concerns and to amalgamate, as from the 3oth November, 1895, the Estates in India and Ceylon then belonging to The North Sylhet Tea Company, The South Sylhet Tea Company and the Estates of The North Travancore Land Planting and Agricultural Society, Limited. These Companies had since their formation in 1882 been worked under the same proprietary, as private Companies. The price paid to the Vendors for the properties was 1,600,000 payable as to 33,333 1st Preference shares, 13,333 2n d Preference shares, and 13,333 Ordinary shares and the balance in cash. The Company owns a considerable quantity of uncultivated land, and it is intended to rapidly develop and bring under cultivation a large portion of the same. The cultivation of coffee on some of the Travancore lands is to receive consideration. 38 SITUATION AND AREA. The Estates comprise an area estimated at 180,000 acres situated in Assam, Sylhet, The Dooars, Darjeeling, The North Travancore Hills and Ceylon, of which, on 3oth November, 1895, 21,310 were planted with tea in bearing, and 5,439 with young tea, coffee, cocoa, and cocoa-nuts. Since that date 4,371 have been cleared and are in course of planting, so that the whole area under cultivation at the time of the formation of the Company was 31,120 acres. PAST RESULTS. The average profits made by the concerns acquired during the last four years amounted to ^93,976, and at this time a large area of the cultivated land was either too young to yield crop or was only in partial bearing. GENERAL. It is intended that the uncalled Capital on the Ordinary shares shall be used almost exclusively for the development of the Company's land and young Estates. ACCOUNTS. None yet issued. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. DAPOOTA TEA COMPANY, LIMITED. The properties belonging to this concern were bought by THE EMPIRE OF INDIA AND CEYLON TEA COMPANY, LIMITED. THE DARJEELING COMPANY, LIMITED. Incorporated $\st December, 1864. CAPITAL. Authorised 250,000 in 12,500 shares of 20 each. Issued 135,420 in 6,771 shares of 20 each, all fully paid. RESERVE FUND. 5,552, undivided profits. OFFICIALLY QUOTED on London Stock Exchange. Directors. HENRY SMITH, Esq., J.P., D.L. (Chairman), SINCLAIR MACLEAY, Esq., FREDERICK ARTHUR ROBERTS, Esq., JAMES RIDDELL, Esq., WILLIAM ROBERTS, Esq. (Managing Director) Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. BEGG, DUNLOP & COMPANY. Offices. ROCHESTER BUILDINGS, 138, LEADENHALL STREET, E.C. 39 HISTORY. This Company was formed to take over the Ging, Ambotia, Tukdah, and Phoobsering Tea Estates, the first three of which were going concerns, and the latter not then cultivated. At the time of purchase there were 2,087 acres under cultivation, including Ging 758 acres, Ambotia 579 acres, Tukdah 750 acres. The Phoobsering Tea Estate, now consisting of 345 acres, was created out of Revenue. AREA. The Estates now comprise 2,178 acres under tea cultiva- tion, of which 2,041 are mature. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last six years : Year. Mature acres. Crop Sale Weight. Yield per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Ibs. 1890 1,906 595,578 318 IO'I 4 d. 12-666. 6,266 6 1891 1,906 589,515 313 9'36d. 11-726. 5,795 5 1892 1,906 580,651 309 8'4od. I2'9od. 10,865 6 1893 2,003 5644H 285 8'5od. 1 1 '02d. 5,927 5 1894 2,003 514,148 200 8- 9 ;d. 12-536. 7,624 5i 1895 2,041 575,308 286 8-23d. II-29A 7,360 Si ACCOUNTS are made up annually to the 3ist December and submitted, together with the Directors' Report, in the May following when the dividend is announced. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for every share up to 10, and one vote for every 10 shares after the first 10. TRANSFER FORM. Ordinary ; Fee, nil. THE DARJEELING CONSOLIDATED TEA COMPANY, LIMITED. Formed %th July, 1896. CAPITAL. 120,000 in 12,000 shares of 10 each, half of which are Ordinary and half 5% Preference shares, all issued and fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. OFFICIAL QUOTATION. Ordinary shares Nos. I to 6,000, Preference Nos. i to 6,000, are officially quoted on the London Stock Exchange. 40 Directors. Sir ALEXANDER WILSON. JAMES MURDOCH, Esq. W. L. THOMAS, Esq. W. F. RABAN, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Agents in Calcutta. Messrs. DAVENPORT & COMPANY. Auditor. W. A. BROWNE, Esq., A.C.A., LONDON. Secretaries. Messrs. LLOYD & COMPANY. Offices. 7, FEN COURT, FENCHURCH STREET, LONDON, E.C. HISTORY. This Company was formed in July, 1896, for the purpose of acquiring, as going concerns, from the 1st January of that year, the properties of the undermentioned Tea Companies registered in India : Total Acres under acres. cultivation. The Balasun Tea Company, Limited ... 1,256 Freehold land, 500 The Gyabaree Tea Company, Limited ... 3,005 Freehold land, 420 Singbulli & Murmah Tea Company, Limited, 2,700 Freehold land, 750 The Ting Ling Tea Company, Limited ... 1,552 Leasehold land, 485 Total ... 8,513 2,155 All these properties are situated in the Darjeeling District. The cultivated land is all in bearing with the exception of about 1 1 2 acres. The purchase price for the properties was fixed at 118,000 in cash. DIVIDEND. An ad interim dividend of 33. 4d. per share has been paid on the Preference shares. GENERAL. It is the intention of the management to further extend the planted area, and with this object 1 20 acres were immediately taken in hand, cleared and planted. PAST RESULTS. For the three years previous to the flotation of this Company, the average price realised for the produce of the four concerns acquired had been equivalent to is ijd per Ib. in London, and the net average profit amounted to 6,945. These calculations were based on an exchange of is 2d per rupee. ACCOUNTS will be made up annually. DIRECTORS' QUALIFICATION. Ordinary shares of the value of 500, VOTING POWER. One vote for every share. TRANSFER FORM. Ordinary. Fee 2s. 6d. per deed. THE DEJOO TEA COMPANY, LIMITED. Formed 1878. CAPITAL. Authorised ,"45,000 in 4,500 shares of ^"10 each. Issued ,43,580 in 4,358 shares, all fully paid. Directors. JOHN MYRIE HOLL, Esq. THOMAS CARRITT, Esq. WILLIAM STEWART, Esq. EDWARD WAHAB, Esq. FRANCIS WILLIAM HOLL, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Agents in Calcutta. Messrs. BALMER, LAWRIE & COMPANY. Secretaries. Messrs. STEWART, HOLL & COMPANY. Offices. 14, ST. MARY AXE, LONDON, E.C. HISTORY. This Company was originally formed, with a fully- subscribed Capital of .30,000, to purchase the then existing Dejoo Estate for ^"25,000, the property comprising at that time some 317 acres of land under tea cultivation. In iSSi the Capital of the Company was increased to its present amount, and 1,338 fully paid-up shares were issued to the Vendors of the Rungagora Estate, which was then purchased. RESULTS AND DIVIDENDS. -The following table shows the work- ings of the Company during the last seven years : Year. Acres in bearing. Crop. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. 1889 733 462,052 630 8'92d. I0'23d. 2,519 6% 1890 733 424,215 580 9'20d. IO'95d. 3,083 7% 1891 768 477P15 621 8-o8d. 9'i8d. 2,190 5% 1892 774 338,660 437 9'48d. iri3d. 2,400 5% 1893 815 398,753 489 8'62d. 9'29d. M37 4% 1894 857 380,495 444 8' 49 d. io-67d. 3456 7% 1895 895 417,285 466 7'33d. 9'88d. 4,573 8% The average cost and price realised are based on the gross weight of the crops. An ad interim dividend of 3% has been paid on account of the 1896 workings. 42 SITUATION AND AREA. The Properties are in the North Luckimpore District of Assam. There are now 950 acres of land under cultivation, nearly all of which is in bearing. GENERAL. Small extensions continue to be made each year as opportunity occurs. ACCOUNTS are made up annually to the 3ist December, and are submitted in the following May, when the dividend for the year is declared. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. i vote for every 5 shares up to 100, and i vote for every 10 shares beyond 100 ; maximum, 100 votes. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE DERBY TEA COMPANY, LIMITED. (CACHAR.) Registered \^th February, 1894. CAPITAL. 35,007, in 35,007 shares of i each, 20,007 being Ordinary and 15,000 6/ Q Preference shares ; all issued and fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend, which is paid half-yearly, viz., on the 3Oth June and 3 ist December. Directors. A. J. M. MACLAUGHLIN, Esq., M.D. (Chairman) J. W. SIDEY, Esq. OSWALD R. MOUNSEY, Esq. Agents in London. Messrs. THOMAS BARLOW & BROTHER. Agents in Calcutta. Messrs. BARLOW & COMPANY. Secretary. J. EMMOTT BARLOW, Esq., M.P. Offices. 28, FENCHURCH STREET, LONDON, E.C. HISTORY. This Company was formed to acquire as from the 1st January, 1894, the going concern known as the Derby Tea Company, 43 situated in the Cachar District, in the Province of Assam, and to further extend the same. AREA. The Properties comprise an area of 4,733 acres, of which 1,000 acres are planted up, 700 acres being in full bearing, the balance young tea of various ages. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company for the past two years : Year Acres in bearing Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividends. Pref. Ord. 1894 600 491,565 836 5 '43d. 7'27d. 3>944 6% % 1895 7OO : 601,925 879 4'92d. 6'09d. 3,675 6% '2% Ad interim dividends of $/ Q on the Ordinary and 3% on the Preference shares were paid on 1st January, 1897, on account of 1896 workings. ACCOUNTS are made up annually to the 3 1st December, and submitted in or about the May following. DIRECTORS' QUALIFICATION. 500 shares minimum. VOTING POWER. 50 shares one vote, and one vote for every additional share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE DOLOO TEA COMPANY, LIMITED. Registered yd December, 1894. CAPITAL. Authorised and Issued 80,000 in 6,000 Ordinary and 2,000 7% Preference shares of 10 each, all fully paid. Preference shares have priority as to Capital as well as dividend ; this is usually paid in January and May. Managing Agent. P. C. LECKIE, Esq. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. DUNCAN BROTHERS & Co. Offices. 22, NEW BROAD STREET, LONDON, E.C. 44 HISTORY. This Company was formed to acquire and work the then going concern known as the Doloo Estate, which was working as far back as 1860. SITUATION AND AREA. The Estate is situated in the Cachar District of the Province of Assam, and comprises an area of about 3,706 acres, of which about 1,322 are now under tea, and of these about 1,297 are m bearing. RESULTS AND DIVIDENDS. The following table shows the workings of the Company since its formation : Year. Acres in bearing. Crop produced, Ibs. Average Ibs. per acre. Average cost per Ib. Aver age per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 1894 1.239 622,832 502 5'27d. 8'93d. 9,519 % 7 % I<* I8 9 5 1,289 716,158 555 476d. 6'94d. 6,509 7 7* Ad interim dividends of 2\/ Q on the Ordinary and 3^% on the Preference shares have been paid on account of the 1 896 workings. Preliminary expenses of the Company, new machinery, extensions, etc., paid for out of revenue. ACCOUNTS are made up annually to the 3ist December, and issued about the middle of May following. VOTING POWER. One vote per share personally, or by proxy or attorney ; proxy must be a member. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE DOOARS TEA COMPANY, LIMITED. Formed 1885. CAPITAL. Authorised 2^,000 in 17,000 Ordinary shares and 7,500 7% Preference shares of 10 each. Issued 225,000 in 15,000 Ordinary shares and 7,500 Preference, all of which are fully paid. The Preference Capital has a preferential claim on the whole of the Company's assets, besides being entitled to a cumulative preferential dividend at the rate of J/ Q per annum, paid half-yearly, viz., on the ist January and ist July. RESERVE FUND. 40,000. Special reserve for Exchange fluctua- tions, 1,250. OFFICIAL QUOTATION. Ordinary shares Nos. I to 15,000 and Preference Nos. 15,001 to 22,500 are officially quoted on the London Stock Exchange. 45 Directors. W. H. VERNER, Esq. (Chairman]. Sir W. W. HUNTER, K.C.S.I., C.I.E. C. A. VERNER, Esq. W. SUTHERLAND WELLS, Esq. Bankers. NATIONAL PROVINCIAL BANK OF ENGLAND, LIMITED. In India THE AGRA BANK, LIMITED. Agents in Calcutta. Messrs. MACKILLICAN & COMPANY. A uditors. HENRY DEVER, Esq., F.C.A. JAMES FORD, Esq., F.C.A. Secretary. H. F. TURNER, Esq. Offices. 60, GRACECHURCH STREET, LONDON, E.G. HISTORY. The prospectus was circulated on I4th October, 1885, and stated that the Company was formed to amalgamate and carry on the four going concerns Bamandanga, Tondoo, Ghatia and Nagrakatta, held under leases from Government in perpetuity, comprising an area of 8,000 acres, 2,000 of which were under cultivation. The nominal Capital of the Company was ,150,000, of which 106,000 was at that time issued and fully subscribed. The purchase price of the four concerns was 98,800, of which 35,330 was taken in the shares of the Company. Extensions on a large scale were immediately taken in hand. In 1886 the Indong Estate was purchased, comprising some 2,200 acres, of which 400 were under tea plant. In 1887 the Capital of the Company was increased by the creation of 3,500 Preference shares. In 1888 the balance of the Ordinary shares was subscribed, making the total amount of that class issued 150,000, at which it still remains. The Sukanbari Estate of about 800 acres, of which 200 were planted, was purchased for 2,956 ; this estate adjoins Nagrakatta. The surplus profits, after payment of dividends, of the year 1889, including the balance of the previous year, amounted to 5,474, and with this the Reserve Fund was founded for the purpose of equalising dividends. In 1892 the Capital of the Com- pany was increased to its present amount, ^"245,000, by the creation of 2,000 additional Ordinary shares and 4,564 Preference shares. These latter shares were issued in the May of that year at a premium of 2 per share ; this premium, less expenses of issue, amounted to 8,543, and was carried to Reserve Fund. The proceeds of the issue, together with calls which were made on the Ordinary shares, some of which were not at the time fully paid, were used to purchase the Bhogotpore Estate 4 6 at a price of 61,630. This Estate comprised 5,500 acres, of which 1, 080 acres were under tea. The Grassmore Division of 800 acres was purchased in 1893. SITUATION AND AREA. The Properties are situated in the Western Dooars District, Bengal, and comprise some 18,400 acres, worked in eight divisions. There are in all 6,405 acres under tea, divided as follows : Bamandanga 1,010 acres, Tondoo 600 acres, Ghatia 450 acres, Nagrakatta 972 acres, Indong 895 acres, Bhogotpore 1,070 acres, Hilla 658 acres, Grassmore 750 acres. RESULTS AND DIVIDENDS. The following table gives the work- ing results of the Company since its formation : Year Acres over 4 years old. Crop produced. Ibs. Av. Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. Remarks. 1885 690 405,138 7.003 * 8 1886 800 557.292 7 -68d. 9-6od. 3-977 6 1887 1,156 747,578 647 77id. IO'I 5 d. 7.6i9 7 1888 1,644 1,043,962 634 6-6 7 d. 8-8 4 d. 8,836 7 Si Capital increased; 3,500 Pref. shares issued. 1889 2,335 1,331,74 570 7-2 9 d. n-2 4 d. 19,183 7 10 5,474 to Reserve. 1890 2,956 1,386,062 468 8-o 4 d. io- 9 6d. 16,361 7 IO i, 762 to Reserve. 1891 3,256 1,705,555 531 7 -o 7 d. 8-8id. 12,432 7 IO 2,000 from Reserve. 1892 4,477 2,630,335 587 6-47^. 976d. 35.531 7 fio ^"14,968 to Reserve. 1893 4.831 2,589,553 536 6-2id. 7'97d. 19.072 7 IO i, 143 deducted from Re- serve. 1894 4,996 2,826,300 565 5-88d. 8- 95 d. 37.H7 7 tio /io,343 to Reserve, 1,250 to Special Reserve. 1895 5,i48 3,017,948 586 5'3od. 7- 5 2d. 27.44! 7 t IQ ^2,500 to Reserve. f And bonus of 2^%. Ad interim dividends of 2|% on the Ordinary and 3!% on the Preference shares have been paid on account of the 1896 workings. GENERAL. A feature of the working of this Company is the large amount of land that has been put under cultivation year by year since its formation. The Directors have charged a large portion of the cost of making these extensions and maintaining young tea against Revenue, and as a result the average Capital cost per cultivated acre stands at a very reasonable figure. ACCOUNTS are made up annually to the 3ist December, and issued, with Directors' report, in the May following, when the final dividend on the Ordinary shares is declared. VOTING POWER. One vote one share. TRANSFER FORM, Ordinary ; Fee, 2s. 6d. per deed. 47 THE DOOM DOOMA TEA COMPANY, LIMITED. Formed \^th February ', 1877. CAPITAL. Authorised. 200,000 in 20,000 shares in 10 each. Issued. 165,000 in 16,500 shares, all fully paid. DEBENTURES. 10,000 in 5% Debentures; created in 1893, re- payable July ist, 1900. The interest is payable half-yearly, viz., on July ist and January ist. RESERVE FUND. Used as working Capital, 20,000. OFFICIALLY QUOTED on the London Stock Exchange shares Nos. i to 15,000. Directors. GENERAL HENRY HOPKINSON, C.S.I. (Chairman). JOHN SHEPARD, Esq. JAMES WARREN, Esq. WALTER STEPHEN WARREN, Esq. Bankers. NATIONAL BANK OF INDIA, LIMITED, LONDON AND CALCUTTA. Agents in Calcutta. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Secretary. E. G. ROCK, Esq. Offices. i, GREAT WINCHESTER STREET, LONDON. HISTORY. The prospectus was issued in February, 1877, and stated that the Company was formed to acquire, extend, and work the then going concerns known as the Doom Dooma and Fort Tea Estates, held on fee simple under grants from Government, and comprising 5,000 acres of land, of which 1,142 were cultivated. Extensions were immediately taken in hand, and by the end of 1879, 1 50 acres had been added. In that year the Company acquired the Tippook Garden, and the issued Capital was increased by 1,350 shares, and a small issue of Debentures was made. Another small estate was purchased in 1885. In 1888 the Tippook Estate was sold for 15,000, whilst in 1891 Samdang was purchased for 9,000, and the Capital of the Company was again increased by 14,500 in order to pay for the same and to provide an increase of working Capital. In December, 1891, the Messai Estate was purchased for 18,944, a d the Capital of the Company was then increased by the issue of 1,940 shares, The existing 10,000 of Debentures were raised 4 8 in 1893 in order to provide further working Capital and in connection with the purchase of the Pohukatta Estate. In 1894, the nominal Capital of the Company was increased to 200,000, and in 1895 15,000 was issued. SITUATION AND AREA. These Properties are in the Dibrugarh District of Assam, and include some 8,718 acres, nearly all of which is held on fee simple tenure ; of these about 3,191 acres are planted. RESULTS AND DIVIDENDS. The following table shows the workings of the Company for the past ten years. Year. Acres in bearing. Crop, Sale Weight. Ibs. Average Ibs. per acre Average cost per Ib. Average per Ib. realised Total Profit from all sources. Divi- dend 7 /o Remarks. 1886 1,568 i>i59>395 746 7'52d. 9'ood. 7.356 6i 1887 1,618 936,762 582 8-29d. u-oid 10,832 8f 1888 !397 919,122 664 7'6 9 d. io'25d. 10,015 8 Tippook Garden Sold. 1889 1,403 863,358 625 7'9od. i2'46d. 17,038 T 4 1890 1,412 879,236 6 33 8'49d. i2'48d. 15,086 '3i 6,900 Debentures then existing, paid off. 1891 1,670 1,106,133 6 7 i 8-4od. ii'o6d. 12,330 loj Samdang purchased, issued Capital in- creased i 5,000. 1892 2,198 ^263,733 582 8-7id. i2'49d. T-9,95 1 i3i Messai purchased,issued Capital increased ^19,400. 1893 2,642 1,501,119 576 8-oid. io-66d. 16,647 *oi ^"10,000 Debentures issued. 1894 2,767 i>577> 6 65 577 7'96d. i2-09d. 27,199 "1 ^"10,904 to Reserve. 1895 2,767 1,680,493 613 7'5id. n-33 d - 26,853 10 ^"9,096 to Reserve. ^"2,388 carried for- ward. Debenture interest not included in above calculation. An ad interim dividend of 5% on account of season 1896 was declared on I9th November, 1896. ACCOUNTS are made up annually to 3ist December, and issued about May following together with Directors' report, when the final dividend is declared. DIRECTORS' QUALIFICATION. 1,000. VOTING POWER. i vote for I share. TRANSFER. FORM. Ordinary ; Fee, 2s. 6d. per deed, 49 THE EASTERN ASSAM COMPANY, LIMITED. Incorporated 1 1 th October , 1 864. CAPITAL. Authorised 84,100 in 16,820 shares of 5 each. Issued 61,120 in 12,224 shares, fully paid. DEBENTURES. 10,000 5j% Debentures in bonds of 50 and 100 each issued in July 1895, and redeemable at par on 1st January 1906, but the Company has the option of paying all or any at par on 1st January 1901, or any subsequent 1st January on giving six months notice. These were created to pay off loans at that time current to the amount of 6,600, and are secured by a mortgage on the Balijan and Rhomarea Gardens. This issue provided 3,400 towards working Capital. The interest is payable half-yearly, viz., on the 1st January and ist July. OFFICIAL QUOTATION. Shares Nos. i to 12,224 quoted on London Stock Exchange. Directors. A. MUMFORD, Esq. (Chairman) J. GOULD, Esq. R. GORDON SHAW, Esq. W. S. WARREN, Esq. Bankers. THE AGRA BANK, LIMITED. Agents in Calcutta. Messrs. BARRY & Co. Secretary. EDWARD CARTER, Esq. Offices. 27, AUSTIN FRIARS, LONDON, E.C. REMARKS. The Company was formed in 1864, and in 1895 was re-organised by writing off 5 per share. The Company at present owns 7,041 acres of land in Assam, of which 1,345 acres are under tea cultivation. RESULTS AND DIVIDENDS. The following table shows the working results for the seven years ending 1895 : Year Acres in bearing. Crop SaleWeight Ibs. Av. Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend Remarks. 1889 698 277,244 397 977d. ir84d. 2,225 Nil 2,225 toDbt.Bal. 1890 698 277,724 398 I0'20d. I2'8od. "3,010 Nil 3,010 l8QI 698 312,363 447 9'O9d. i rood. 2,500 Nil *2,36o,, 1892 698 317,084 j 454 9'53d. IT24d. 2,263 3l-V share 140 carried forward 570 carried forw. 1893 698 351,846 504 9'i id. 9'3od. 267 Nil 837 1894 1,154 417,820 362 io-i3d. 1 1 xpod. 3P93 S/-V share. 874 1895 1,224 529,925 433 8'38d. 9'i6d. i,767t Nil 1,044 * Debit Balance cleared off. f ^"1,000 written off Coolie Account. ACCOUNTS are made up annually to 3ist December, and submitted about April following. DIRECTORS' QUALIFICATION. 100 shares. VOTING POWER. One vote for every share up to 10, an additional vote for every 5 shares beyond the first ten shares up to 100, and an additional vote for every 10 shares beyond the first 100 shares. TRANSFER FORM. Ordinary ; Fee, 2s 6d. per deed. THE EAST INDIA & CEYLON TEA COMPANY, LIMITED. Formed October, 1895. CAPITAL. Authorised. 200,000 in 20,000 shares of 10 each, half of which are Ordinary and half 6% Preference shares. Issued 170,000 in 8,500 Ordinary and 8,500 Preference shares, of which 2,750 of each class were taken by the Vendors in part satis- faction of the purchase price. Preference Shares are cumulative and have priority as to Capital as well as Profits. It is intended to pay the dividend on these shares half-yearly, viz., May and November. OFFICIAL QUOTATION. Ordinary shares Nos. 10,001 to 15,750 and Preference shares Nos. i to 5,750. Directors. P. R. BUCHANAN, Esq. (Chairman}, S. BOULNOIS, Esq., C. T. RICHARDSON, Esq., A. BRYANS, Esq., L. DAVIDSON, Esq. (Resident Director in Ceylon}. Bankers. THE BRITISH LINEN COMPANY BANK. Agents in Calcutta. Messrs. FINLAY, MuiR & Co. Auditors. Messrs. WOODMAN, TULLOCH & EDDS. Secretaries and Managing Agents. Messrs. P. R. BUCHANAN & Co. Offices. 45, LEADENHALL STREET, LONDON, E.C. HISTORY. The Prospectus was issued on the I2th October, 1895, and therein it was stated that the Company was formed to amalgamate and take over as going concerns the following Properties : The Estates of The Doolabcherra Tea Company, Limited (Sylhet), as from 3Oth November, 1894 ; The Estates of the Mookhamcherra Tea Company, Limited (Sylhet), as from 3Oth November, 1894; The Estates of The Mahaousa Tea Company, Limited (Ceylon), as from 3ist December, 1 894 ; The Blackwater Estate (Ceylon), as from the 3Oth June, 1895, also The Hapugastenne and The Walawadowa Estates, both in Ceylon. The price paid for these properties was 165,000, partly in cash and partly in shares of the Company, the remaining 5,000 of Capital issued being reserved for extensions. AREA. The properties comprise 12,660 acres of land, of which about 3,630 acres were planted at the time of the formation of the Company. Of the planted area 2,500 acres are in India, 1,130 are in Ceylon. The reserves of uncultivated land are principally in Ceylon. PAST RESULTS. It is stated in the Prospectus that, although a considerable area of cultivated land was either too young to yield crop or was only in partial bearing, the average profits made by the concerns for the 3 previous years had amounted to 9,874 193. 5d., the profit for the last year alone amounting to 12,586 75. 6d. For the year 1896, ad interim dividends of 3% have been paid on both classes of shares, 52 ACCOUNTS are made up annually to 3Oth November. None yet issued. DIRECTORS' QUALIFICATION. Shares to the nominal value of 500. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. EMPIRE OF INDIA AND CEYLON TEA COMPANY, LIMITED. Formed July, 1896. CAPITAL. Authorised 600,000 in 60,000 shares of 10 each, half of which are $/ Q Preference shares and half Ordinary shares. Issued 438,000 in 21,900 Preference and 21,900 Ordinary shares, all fully paid. Preference Shares are cumulative and have priority both as to Capital and dividend. The latter is payable half-yearly. OFFICIAL QUOTATION. Ordinary shares, Nos. 36,773 to 51,900; and Preference shares, 401 to 21,900. Directors. W. H. VERNER, Esq. (Chairman), Sir W. W. HUNTER, K.C.S I., C.I.E. C. A. VERNER, Esq., W. K. BARLEY, Esq., G. D. PATON, Esq., H. N. GLADSTONE, Esq., W. S. WELLS, Esq. Bankers. THE ROYAL BANK OF SCOTLAND & AGRA BANK, LTD. Agents in Calcutta. Messrs. GILLANDERS, ARBUTHNOT & Co. Auditors. Messrs. W. B. PEAT & Co. H. T. MCAULIFFE, Esq. Secretary. H. F. TURNER, Esq. Offices. 60, GRACECHURCH STREET, LONDON, E.C. HISTORY. The Company was formed to acquire and combine under 53 one management the following going Tea concerns, which, excepting the Ceylon Properties, were taken over as from the 1st January, 1896 : 1. IN ASSAM. The properties of the Borjuli and Dapoota Tea Companies. 2. IN THE DOOARS. The properties of the Good Hope and *Kumlai Tea Companies, and the Haiha Patha and Dangua Jhar Estates. 3. IN CEYLON. The Lebanon Group of Tea Gardens, and the Knuckles Group. AREA. The Assam properties comprise a total area of 9,880 acres, of which 4,207 are under tea, 3,131 being mature and 1,076 newly planted. The property in the Dooars District embraces 5>4 21 acres, of which 1,921 are under tea, 1,711 being in bearing. Of the land not planted 2,500 acres are considered to be good land for tea cultivation. The Ceylon Estates comprise 2,461 acres ranging from 3,000 to 4,500 feet above sea level. They all adjoin and form an unbroken expanse of tea measuring 1,440 acres. PURCHASE PRICE, The price paid for the above properties was 418,000 of which 346,280 was in cash, 4,000 in fully paid Preference shares and 67,720 in fully paid Ordinary shares. PAST RESULTS. The following particulars are extracted from the Prospectus : " The total nett profits from the combined properties in Assam, Dooars and Ceylon, amounted in the two years 1894-5 and 1895-6 to 64,712, or 32,356 per annum. There are 1,332 acres of young tea coming into bearing." DIVIDENDS. Ad interim dividends of 2j% were paid in January, 1 897, on both classes of shares. GENERAL. The average annual outturn for the past two years has been 3,246,514 Ibs. It is intended to make use of the large reserve of land, which may be suitable for planting, by regular but moderate extensions ; for this object, 20,000 has been provided in the issued Capital of the Company. The Capital price of the area under tea works out at 5 5 45 8d per acre. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 1,000. VOTING POWER. One vote one share. TRANSFER FORM. Ordinary ; Fee, 2s 6d. per deed. An announcement has been made that the Kumlai property has not been purchased by the Company. 54 THE ENDOGRAM TEA COMPANY, LIMITED (CACHAR). Registered 2$th November, 1880. CAPITAL. 40,000 in 4,000 shares of 10 each, all of which are issued and fully paid. RESERVE FUND. 500. Directors. EDWARD DRUMMOND, Esq. (Chairman}, A. J. FILGATE, Esq., JOHN STEEL, Esq., A. W. CHAPMAN, Esq. Bankers. THE AGRA BANK, LIMITED. Managing Agents in Calcutta. Messrs. OcTAVius STEEL & Co. Secretaries. Messrs. OCTAVIUS STEEL & Co. Offices. 34, OLD BROAD STREET, LONDON, E.G. HISTORY. The Company was formed to take over, work and extend the three going concerns, known as Coombergram, Budlicherra and Indrogram. SITUATION AND AREA. The Estates are situated in the Cachar District of the Province of Assam, and comprise 3,129 acres, of which 1,2 1 8 acres are planted and nearly all are in bearing. RESULTS AND DIVIDENDS : Year. Acres in bear- ing. Crop Produced. Ibs. Av. Ibs. per acre. Average per Ib. realised. Total Profit from all sources. Divi- dend. Remarks. 1891 1,064 526,730 494 7& 1,614 % Nil. 1892 I P93 345P30 315 9*d. 905 Nil. 1893 1,093 387,550 355 7|d. 416 Nil. 1894 1,143 381,560 334 7fd. 2,502 5 500 to Reserve. 1895 IJ78 384,704 326 7id. 1,917 3i 323 carried forward. The crops are usually sold partly in Calcutta and partly in London. GENERAL. Moderate extensions have been made nearly every year since the formation of the Company, mostly on the Coombergram 55 Estate. It is intended to continue these extensions as circumstances may permit. ACCOUNTS are made up annually to 3ist December, and are issued about April following. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote for every share up to 10, and an additional vote for every 5 shares beyond the first 10 up to 100 shares, and an additional vote for every 10 shares beyond first 100 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE INDIAN TEA COMPANY OF CACHAR, LIMITED. Formed 1863. CAPITAL. Authorised 100,000 in 10,000 shares of 10 each. Issued 94,060 in 9,406 shares, which are fully paid. RESERVE FUND. 7,500. Directors. C. A. DUNCAN, Esq. (Chairman). BASIL T. MAKINS, Esq. W. H. SIMPSON, Esq. Bankers. THE UNION BANK OF LONDON, LIMITED. Agents in Calcutta. Messrs. JARDINE, SKINNER & Co. Secretary. ALEXANDER NEISH, ESQ. Offices. 150, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed in 1863 for the purpose of the cultivation and supply of tea. The Company's Estates are situated in the Province of Cachar, and comprise an area of about 5,000 acres. The area under tea cultivation was, according to the last returns, 1180 acres, and it is estimated that about 500 to 600 acres of land suitable for tea still remain for future extensions. 56 RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last five years : Year ending 3ist March. Acres in bearing. Crop Produced, Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1892 1,085 448,800 413 7'5 4 d. io-23d. 5>3H / 6 1893 1,047 403,600 385 8- 4 7d. ir62d. 5,640 6 1894 IP74 454,240 423 7'9od. 9'42d. 3,188 3J 1895 1,130 536,240 474 7'63d. I0'46d. 6,579 7 1896 1,180 518,480 439 6-86d. 8'26d. 3,242 3i All these calculations are made on the gross weight of crop. ,1,006 carried forward to 1897 accounts. ACCOUNTS are made up annually to the 3ist March, and submitted in April, when the dividend is declared. DIRECTORS' QUALIFICATION. 100 shares. VOTING POWER. I vote for every share up to 10, I additional vote for every 5 shares up to 100, and I vote for every 10 shares beyond the first 100 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE JALINGA TEA COMPANY, LIMITED. Registered i6th January, 1895. CAPITAL. Authorised and Issued 22,000 in 2,200 Ordinary shares of 10 each. Managing Agent. P. C. LECKIE, Esq. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. Agents in Calcutta. Messrs. DUNCAN BROTHERS & Co. Offices. 22, NEW BROAD STREET, LONDON, E.C. HISTORY. This Company was formed in 1895, to acquire and work the Jalinga Estate, which was at that time a going concern, having been partly cultivated as far back as 1860. 57 SITUATION AND AREA. The Estate is situated in the Cachar District of the Province of Assam, and comprises a total area of 1,740 acres, of which 725 are under cultivation, 677 acres being in bearing. RESULTS AND DIVIDENDS. The following table shows the work- ing results obtained from the Estate since it was taken over by the Company : Year. Acres in bearing. Crop Produced. Ibs. Average Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1894 644 246,422 382 5 -03d. 8- 49 d. 3>560 % 13* 1895 669 319,212 477 4'48d. 7-j/d 3,581 4i Preliminary expenses of the Company, new machinery, extensions, etc., made during these two years, have all been charged to Revenue Account. An ad interim dividend of $/ Q has been paid on account of the 1896 workings. ACCOUNTS are made up annually to the 3ist December, and issued about the middle of May following. VOTING POWER. i vote per share, personally or by proxy or power of attorney, and proxy must be a Member. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE JHANZIE TEA ASSOCIATION, LIMITED. Incorporated 1878. CAPITAL. A uthorised 100,000 in 20,000 shares of $ each. Issued 83,500, in 16,700 shares of $ each. RESERVE FUND. 13,000. Managing Agents. There are no Directors to this Company, Messrs. ALEX. LAWRIE & Co., of 14, St. Mary Axe, London, being Managing Agents. Bankers. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, LIMITED. Agents in Calcutta. Messrs. BALMER, LAWRIE & Co. Offices. 14, ST. MARY AXE, LONDON, E.C. 58 HISTORY. This Company was originally formed in 1878 to purchase the Seleng Tea Estate. Shortly afterwards the Borsillah and Namtee Properties were acquired. In 1885 the Laojan and Naganijan Estates were acquired, new Capital being issued in 1886 in payment for the same. The amount of issued Capital at that date was 55,000, at which it remained until 1891. In 1889 some then existing Debentures were paid off out of profits. In 1891 the Sotai Estate was purchased, whilst in the following year the Mogro Estate was also acquired, the issued Capital then standing at 66,000, at which it remained until 1895, when it was raised to its present amount, in order to acquire the Boisah Habi Property. SITUATION AND AREA. All the Estates are situated in the Sibsagor and Jorhat Districts of Assam. There are now some 2,916 acres under cultivation, of which 2,558 are in full bearing. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company for the last six years : Year. Acres over three years old. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. 1890 I>415 514,657 368 io - o6d. i2-69d. 5>727 % 10 1891 1,545 \ 612,228 399 9 d. I T25d. 5,718 10 1892 1,730 653,637 380 Spod. ir88d. 8,104 IO 1893 1,850 661,285 359 7'6od. 977d. 5,982 10 1894 1,852 708,678 387 8'26d. ii'42d. 9,344 IO 1895 1,852 874,305 346 7'5od. iO'i9d. ^ 9,795 IO 1,203 carried forward from 1895. An ad interim dividend of 4% for year 1896 was paid in December last. ACCOUNTS are made up annually to the 3 1st December, and are submitted, together with the Directors' report, about the May following, when the final dividend is declared. VOTING POWER. One vote for each share up to 10, and one additional vote for every five shares, from 10 to 100, and one additional vote for every 10 shares beyond the first hundred. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. .per deed. 59 THE JOKAI (ASSAM) TEA COMPANY, LIMITED. Incorporated 2Oth October, 1882. CAPITAL. Authorised 500,000 in 25,000 Ordinary shares and 25,000 6% Preference shares of 10 each. Issued 300,000 in 25,000 Ordinary shares and 5,000 Preference shares. The Preference Shares are cumulative, and have priority as to Capital as well as Profits. The dividend on these shares is paid half- yearly, in December and June. RESERVE FUND. 43,808. OFFICIAL QUOTATION. Ordinary shares Nos. i to 25,000 and Preference Nos. I to 5,000 are quoted on the London Stock Exchange. Directors. SURGEON-GENERAL A. C. C. DE RENZY, C.B. (Chairman], ALEX. LAWRIE, Esq., JOHN M. HOLL, Esq., ALFRED J. HOLIDAY, Esq., WILLIAM HALFORD, Esq., EDWARD WAHAB, Esq. Bankers. DELHI & LONDON BANK, LIMITED. Agents in Calcutta. Messrs. BALMER, LAWRIE & Co. Secretary. HENRY EARNSHAW, Esq. Offices. 14, ST. MARY AXE, LONDON, E.C. HISTORY. This Company was formed in 1882, with a paid-up Capital of 30,000, to purchase the properties of a then existing Company of the same name, registered in Calcutta. Since that date the Capital has been gradually increased, principally for the purchase of other important properties. The last alteration was made in 1894, when the Capital was increased by the creation of the Preference shares, 5,000 of which were at that time issued. The properties are held partly under " leasehold tenure," but principally under " fee simple tenure." This Company is remarkable on account of the regularity of its dividends, which have remained at 10% for the last twelve years. 6o SITUATION AND AREA. The Estates are situated in the Dibrugarh and North Lukhimpur Districts of Assam, and comprise an area of 35,142 acres, of which 7,351 are under tea cultivation. RESULTS AND DIVIDENDS. The following table shows the progress of the Company during the last ten years : Year. Acres in bearing. Crop Sale Weight. Ibs Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 1886 1887 707,460 785,046 411 456 8'52d. ii'55d. 7,842 9,915 fO 00 o IO 10 1888 1889 3,350 4,101 2,118,763 2,294,459 637 563 7'54d. 8'58d. 9'59d. 12,832 w Q IO 10 1890 4,377 2,275,094 525 9'46d. i2'6od. 29,787 pL T3 IO 1891 4,463 2,360,466 529 8'58d. io-77d. 21,587 OJ en 10 1892 5^99 2,349,702 419 io-65d. 13-196. 24,839 a 10 1893 5,800 3,084,795 541 8- 59 d. iO'3od. 21,942 10 1894 1895 6,093 6,185 3,160,788 3,063,651 527 502 8-87d. 8'5od. io-86d. I0'5id. 26,129 25,724 6% 6% 10 10 1,221 carried forward to 1896 accounts. Ad interim dividends of 3% on the Preference and 5% on the Ordinary shares have been paid on account of 1896 workings. ACCOUNTS are made up annually to the 3ist December, and submitted towards the end of the June following. An interim dividend is usually paid in December. DIRECTORS' QUALIFICATION. 1,000 in shares of either class. VOTING POWER. One vote for every share, either kind ; which must have been held for three months. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE JOREHAUT TEA COMPANY, LIMITED. Incorporated 2gth June, 1859. CAPITAL. 100,000 in 5,000 shares of 20 each, all issued and fully paid. RESERVE FUND. 21,579. Undivided profits. SHARE PREMIUM ACCOUNT. 14,640. OFFICIALLY QUOTED on London Stock Exchange. 6i Directors. EDWARD MULREADY STONE, Esq. (Chairman] FREDERICK ARTHUR ROBERTS, Esq. HENRY SMITH, Esq., J.P., D.L. JAMES RIDDELL, Esq., WILLIAM ROBERTS, Esq. (Managing Director) Bankers. THE UNION BANK OF LONDON, LIMITED. Agents in Calcutta. Messrs. BEGG, DUNLOP & Co. Offices. ROCHESTER BUILDINGS, 138, LEADENHALL STREET, E.G. SITUATION AND AREA. The estates are situated in the Sibsagor District of Assam and are worked in twelve divisions, comprising a total of 15,597 acres of freehold land, 5,224 of which are cultivated, 4,8 13 acres being mature. RESULTS AND DIVIDENDS. The following table shows the workings of the Company for the last six years : Year. Acres in bearing. Crop Sale Weight, Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1890 4,448 1,446,565 329 9'l8d. 11-036. 9,432 7 /o IO 1891 4,530 1,591,172 356 8'44d. i073d. 12,963 10 1892 4,578 1,464,126 324 7'94d. ii-Sid 17,677 I2J 1893 4,632 1,601,327 350 7'26d. io-88d. 20,985 15 1894 4,680 1,629,740 352 6'56d. 1 1 -ood. 25,596 20 1895 4,744 1,714,689 366 6-48d. 9 '58d. 18,836 20 4,432 carried forward from 1895 accounts. HISTORY. This Company was formed in 1859, with a Capital of 60,000, to purchase the four going concerns Cinnamara, Oa Ting, Koliabur and the Numali Ghur Tea Estates. The combined properties included at that time some 731 acres under cultivation. Shortly after the Company was formed it was decided to acquire large tracts of land in the immediate vicinity of the estates ; these amounted to 5,620 acres, giving the Company a total area of 8,539 acres. The Capital was increased in 1862 to 80,000 in order to pay for this new land and provide funds for extensions. For the latter reason the Capital was again increased to 100,000 in 1866, but only 500 of the new shares were issued, and these 62 at a premium of 30 each. The Premium Account above mentioned was thus created on the 488 shares subscribed at this price. It is interesting to note that for the years 1863 and 1864 dividends of 36% and 34% respectively were paid, and that an average of 2s. 7^d per Ib. was obtained for the 1864 crop. Extensions on a fairly large scale were made each year until, in 1877, 3,506 acres were under plant. In 1875 the remaining uncalled Capital on the shares issued was called. In 1878 it was decided to issue the 512 shares remaining, and from that time the subscribed capital has been 100,000. ACCOUNTS are made up annually to 3 ist December, and issued, together with Directors' report, in the July following. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for every five shares. TRANSFER FORM. Ordinary ; Fee, nil. THE KAMROOP TEA ASSOCIATION (AMCHONG), LIMITED. Registered 2Jth February, 1891. CAPITAL. Authorised 16,000 in 3,200 shares of 5 each. Issued 10,000 in 2,000 shares, which are fully paid. DEBENTURES. 1,000 in 6% Debentures of 100, secured against the property. Directors. Dr. MACRAE. Lieut-Colonel HENRY MURRAY. Bankers. DELHI AND LONDON BANK, LIMITED. Agents in Calcutta. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Secretaries. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Offices. i, GREAT WINCHESTER STREET, LONDON, E.C. HISTORY. This Company was formed in 1891 to acquire, as from the ist January of that year, the Amchong Estate, and to work and 63 further develop the same. In 1894 the Company took over the Belguri Property, which comprised 1 1 5 acres of tea in cultivation. RESULTS AND DIVIDENDS : Year. Acres under culti- Crop Sale Weight. Average cost per Ib. Average per Ib. realised. Total Profit from all Dividend. Carried forward. vation. Ibs. sources. 1891 319 73,930 iod. lid. 304 nil 1892 319 63,080 lo&d. IS. Ofd. 920 9% 1893 335 62,893 1 1 r \d. is.o&d 219 nil 1894 450 78,640! lo&d. nffd. ^447 5% 1895 450 92,400 9 i|cl. njd 986 9% 368 GENERAL. It is intended to further plant up the uncultivated land as circumstances may permit. ACCOUNTS are made up to 3ist December, and submitted, with the Directors' report, in the following April or May. DIRECTORS' QUALIFICATION. 40 shares. VOTING POWER. Every Member has one vote for every share up to 10, an additional vote for every further 10 shares, but no Member can have more than 60 votes. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. LAND MORTGAGE BANK OF INDIA, LIMITED. The properties of this concern were acquired by THE AMALGAMATED TEA ESTATES COMPANY, LIMITED. LANKAPARA TEA COMPANY, LIMITED. Incorporated %th November -, 1895. CAPITAL. 50,000 in 5,000 shares of 10 each, all of which have been issued and are fully paid. Directors. Sir BENJAMIN SIMPSON, K.C.I.E. The Hon. EDWARD HEWITT. RICHARD SOUTHBY, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, LIMITED, 6 4 Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Secretaries. Messrs. GEORGE WILLIAMSON & Co. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed in November, 1895, to take over, as a going concern, the property known as the Lankapara Estate situated in the Julpaigoorie District of Dooars. AREA. The estates comprise 6,594 acres, of which 1,040 are under tea, 830 acres being in full bearing. RESULTS. The workings of the first year produced a crop of 610,000 Ibs., which sold at an average price of 6Jd. per lb., resulting in a nett profit of 561, which was carried forward. ACCOUNTS are made up annually to the 3ist December, and submitted about the June following with the Directors' report. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. LEBONG TEA COMPANY, LIMITED. Incorporated $th December, 1862. CAPITAL. Authorised ;ioo,ooo in 10,000 shares of 10 each. Subscribed 8,207 shares, on which 8 is paid up. RESERVE FUND. 7,000. OFFICIAL QUOTATION in Stock Exchange List. Directors. CHARLES E. GOODHART, Esq. (Chairman). DUDLEY R. SMITH, Esq. GEORGE W. CHRISTLSON, Esq. GARDNER S. BAZLEY, Esq. Bankers. Messrs. SMITH, PAYNE & SMITHS. CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA (Calcutta). LLOYD'S BANK (Darjeeling). 65 Agents in Calcutta. Messrs. BALMKR, LAWRIK & Co. Secretary. GEORGE G. PLAYFAIR, Esq. Offices. 93, CANNON STREET, LONDON, E.C. HISTORY. This Company was originally formed in 1862, at which time all the Capital was issued. Previous to 1893 the shares were fully paid, but at that time it was decided to make a return of Capital to the Shareholders at the rate of 2 per share, on the understanding that this amount, or any part of it, might be called up if required. SITUATION AND AREA. The Estates are situated in Darjeeling, amongst some of the best properties of the district, and are worked in two divisions, viz., Badamtam and Tukvah. They comprise 4,943 acres, mostly freehold; the planted area amounts to 1,546 acres, practically the whole of which is in bearing. RESULTS AND DIVIDENDS : Year. Acres in bear- Crop Sale Weight. Av. Ibs. per Average cost per Ib. Average per Ib. realised. Total Profit from all Divi- dend. Remarks. ing. Ibs. acre. sources. % 1889 i, i26| 372,954 335 9'56d. I2' 5 2d. ^6,033 6 ^"908 to Reserve 1890 *>254 397>692 321 io-68d. i3.4od. /"5,6 5 8 6 ^"487 to Reserve 1891 i>359 47o>778 350 9'83d. ii'49d. /4,2oi 6 1^963 from Reserve 1892 1,451 494,052 344 8-68d. 13*59^. ^"10,966 9 ^1,030 to Reserve 1893 1,520 457,138 304 8'7od. n-88d. 6,So 5 10 1894 I >54 1 4 8 9> I2 o 321 S-igd. i4'3id. ^2,957 15* ,"3,000 to Reserve 1895 !>542 5 J 9>907 34 7-37<3- i2-34d. ^"11,741 j f/~i,ooo to Reserve 1C* -: (^"1,749 carried forwd * Including Bonus of 5%. There ivas some tea seed produced each year, the cost of which is included in the above table (cost column), but not the price realised for the same ; it is, hoivever, included in the nett profit. An ad interim dividend of 5% has been paid on the 1896 workings. ACCOUNTS are made up annually to the 3ist December, and generally issued in the following April or May. DIRECTORS' QUALIFICATION. 100 shares. VOTING POWER. Five shares one vote. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 66 THE LEE8H RIVER TEA COMPANY, LIMITED. Formed 1877. CAPITAL. 15,000 in 1,500 shares of 10 each, all issued and fully paid. DEBENTURES. 2,100 5 J% First Mortgage Debentures out of5,ooo originally issued, the balance having been paid off out of Revenue. Those outstanding expire on the 3Oth June, 1900 ; the Company have the right at any time to increase the issue up to 10,000. RESERVE FUND. 1,500. Directors. Sir H. SEYMOUR KING, K.C.I.E., M.P. (Chairman) F. B. GOODWIN, Esq. Deputy-Surg.-Gen. S. B. PARTRIDGE, C.I.E. Bankers. Messrs. HENRY S. KING & Co. Agents in Calcutta. Messrs. KING, HAMILTON & Co. Secretary. FRED. W. HAMILTON, Esq. Offices. 65, CORNHILL, LONDON, E.C. HISTORY. This Company was formed in 1877 for the purpose of acquiring land and growing tea in the Western Dooars, a district lying at the foot of the Bhootan Hills, in Bengal. SITUATION AND AREA. The Estates are situated at the junction of the Leesh and Teesta Rivers. They comprise a total area of 1,300 acres, of which 738 are under cultivation, 708 acres being in bearing. RESULTS AND DIVIDENDS. The following are the results of the workings of the Company during the six years ending 1895 : Year 1890, crop obtained 276,880 Ibs., dividend 7%. ,, 1891, 295,840 7%. ,, 1892, 368,800 20%. 1893, 335,200 7%. 1894, 342,720 i2j%. 1895, 332,000 10%. ACCOUNTS are made up annually to 3ist December and issued, together with Directors' report, in the March following. DIRECTORS' QUALIFICATION. 20 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE LONGAI VALLEY TEA COMPANY, LIMITED (SYLHET). Registered \st August ', 1893. CAPITAL. Authorised 75,000 in 5,000 Ordinary and 2,500 6% Preference shares of 10 each. Issued 56,070 in 4,100 Ordinary and 1,507 Preference shares, all fully paid. Preference shares are cumulative, and have priority as to Capital as well as Profits. The dividend on these shares is paid half-yearly, viz., on the ist January and 1st July. RESERVE FUND. 1,000. Directors. A. J. M. MACLAUGHLIN, Esq. (Chairman) JAS. GEORGE MACLEAN, Esq., J. W. SIDEY, Esq., F. H. DAY, Esq. Bankers. BANK OF SCOTLAND, LIMITED. Managing Agents in Calcutta. Messrs. OCTAVIUS STEEL & Co. Secretaries. Messrs. OCTAVIUS STEEL & Co. Offices. 34, OLD BROAD STREET, LONDON, E.C. HISTORY. This Company was formed in 1894 to take over, as from ist January, 1894, the going concerns, Longai, Sonakhira and Lallkhira, and to cultivate and further extend the same. The Vendors received 56,000 in fully-paid shares of the Company in payment for the Estates. SITUATION AND AREA. The Estates are situated in the Sylhet District of the Province of Assam and comprise 1,650 acres, of which 770 are under tea. RESULTS AND DIVIDENDS : Year. Crop Produced. Ibs. Average cost per Ib. Average per Ib. realised. Total Profii from all sources. Dividend. Remarks. Pref. Ord. 1894 531,241 4'43d. 6'94d. 6,320 6% 8% i ,000 to Reserve. 1895 548,396 4'8od. 5-8od. 3>932 6% 7% F2 68 ACCOUNTS are made up annually to the 3ist December and issued in the May or June following, when the final dividend is declared. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote for one share, Preference or Ordinary. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE LUNGLA (SYLHET) TEA COMPANY, LIMITED. Incorporated 2gth May, 1895. CAPITAL. 200,000 in 20,000 shares of 10 each, 10,000 of which are 6% Preference and 10,000 Ordinary shares, all issued and fully paid. Preference shares are cumulative and have priority as to Capital as well as dividend. The dividend on these is payable half-yearly, viz., in January and July. OFFICIAL QUOTATION granted for Preference shares Nos. i to 10,000, and Ordinary shares Nos. 20,001 to 30,000. Directors. MICHAEL FOX, Esq. (Chairman] Colonel A. J. FlLGATE. A. W. CHAPMAN, Esq. H. A. HARRISON, Esq. Bankers. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, LIMITED. THE ROYAL BANK OF SCOTLAND. Agents in Calcutta. Messrs. ANDREW YULE & Co. Secretaries. Messrs. C. A. GOODRICKE & Co. Offices. WEST INDIA HOUSE, 96, LEADENHALL STREET, E.C. HISTORY. The Prospectus was issued in May, 1895, and stated that the Company was formed to acquire and amalgamate, as from the 1st January of that year, the properties of the Shumshernugger Tea Company, Limited ; the Lungla Tea Company, Limited ; and the Etah Tea Company, Limited. These properties include Kannyhatty and Bhagicherra Estates. 6 9 SITUATION AND AREA. The estates are situated in South Sylhet, in the Province of Assam. The Shumshernugger, Kannyhatty, and Bhagicherra Estates are situated in one block, close to one of the stations on the Assam-Bengal Railway ; the Lungla and Etah Gardens are situated north of this block. They comprise a total area of 14,882 acres. The following table shows the amount of land planted up in each of the various divisions : PLANTED AREA (ACRES). Divisions. Mature Acres. Planted 1892. Planted 1893. Planted 1894. Planted 1895- Total Acres. Crop produced. 1895. Lungla I, OCX) 100 50 20 30 1,200 Ibs. 552,008 Shumshernugger 812 150 38 IOO ' I. IOO 450,688 Bhagicherra ... 2OO ' 2OO Y'ng Tea Kannyhatty . . . 763 IOO 52 55 30 1,000 420,350 Etah 625 70 72 95 862 240,715 TOTALS 3,200 350 210 H7 455 4,362 1,663,761 It will be seen that there is a fair amount of land already planted, which will be producing in the course of the next few years. RESULTS AND DIVIDENDS : Yea . Acres in Crop Sale Year ' i bearing. Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 1895 i 3,550 1,658,931 468 *6'I4d. -773d. 11,120 6% <% * Most of the crop was sold in Calcutta, and Freight, Dock Charges, &c., have been estimated on that portion of the tea in the above table. 1,913 carried forward to 1896 accounts. Ad interim dividends of 3% on both classes of shares was paid on the ist January, 1897, on account of 1896 workings. EXTENSIONS. During the year 1895, 455 acres were cleared and planted out, in addition to a new seed garden of 1 5 acres. ACCOUNTS are made up annually to 3ist December, and submitted in the May following. DIRECTORS' QUALIFICATION. Holding of Ordinary shares to the nominal amount of 1,000. VOTING POWER. One vote for every share. Chairman has casting vote. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE LUSKERPORE TEA COMPANY, LIMITED. Registered fth June, 1894. CAPITAL. Authorised 20,000 in 2,000 shares of 10 each. Issued 18,000 in 1,800 shares, 1,600 of which are fully paid and 200 have 9 paid. Directors. CHARLES SANDERSON, Esq. R. GORDON SHAW, Esq. DAVID J. PLAYFAIR, Esq. Bankers. THE AGRA BANK, LIMITED, CALCUTTA AND LONDON. Agents in Calcutta. Messrs. BARRY & Co. Secretaries. Messrs. J. B. BARRY & SON. Offices. 1 10, CANNON STREET, LONDON, E.C. HISTORY. This Company was formed to acquire, as from the 1st January 1894, for a sum of 16,000 the then going concern known as the Luskerpore Estate, held under "permanent settlement rules" at a nominal rental. SITUATION AND AREA. The Estate is situated in the Sylhet District of Assam and comprises about 2,200 acres of land, of which about 450 are under tea cultivation, nearly all in full bearing ; and a further grant has been applied for. RESULTS AND DIVIDENDS: Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Result. Divi- dend. 1894 402 142,315 360 7'55d. 878d. 739 Profit 4% 1895 412 156,977 388 7'4id. 6- 93 d. 3 1 1 Loss ACCOUNTS are made up annually to 3ist December and submitted in the following June. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote per share for every share over five. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. MAJULI TEA COMPANY, LIMITED. Incorporated 2Otk December, 1 889. CAPITAL. Authorised i 10,000, in 1 1,000 shares of 10 each. Issued 95,970, in 9,597 shares, all of which are fully paid. Directors. RICHARD BLAMEY MAGOR, Esq. (Chairman} JAMES HAY WILLIAMSON, Esq. ROBERT LYELL, Esq. RICHARD JOSEPH BOYLE, Esq. Bankers. THE AGRA BANK, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Managing Agents. Messrs. GEORGE WILLIAMSON & Co. Offices. 138, LEADENHALL STREET, LONDON, E.C. SITUATION AND AREA. The estates are in the Bishnauth District of Assam, and comprise an area of 7,572 acres, and are worked in two divisions, having a total of 2,489 acres under cultivation, of which 2,125 are over four years old. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company since its formation : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average Cost per Ib. Average perlb. realised Total Profit from all sources. Divi- dend. 1889 660 349,109 534 9'68d. I2'5Qd. A236 % 10 1890 1,035 j 475,429 461 9'97d. I2'Old. A,028 7 1891 1,063 533^49 504 9'65d. 1 1 7od. A,577 7 1892 1,108 452,187 408 1 0'2 id. u-53d. 2,526 5 1893 2,041 931,775 460 8-nd. 9*65d. 6,043 5 I8 94 2,029 895,844 445 8'53d. I0'48d. 7,289 7 1895 2,125 847,532 404 9'i3d. io-69d. 5493 5 2,449 carried forward to 1896 accounts. HISTORY. This Company was formed in 1889 with a nominal Capital of 45,000, of which 35,000 was issued, in order to purchase 72 and amalgamate the two going concerns : Majulighur and Ghilladaree. In the following year the Capital of the Company was increased to 60,000, with the object of purchasing the Kolapani Garden for 20,790, which was paid in shares. At that time the acreage under cultivation of the three concerns totalled 1,184. In 1893 the Capital was again increased, to its present amount, by the creation of 5,000 shares, of which 4,000 were issued to the Vendors of the then existing Luckimpore Tea Company for their properties. ACCOUNTS are made up annually to 3ist December and submitted, together with the Directors' report, about the June following. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. i vote i share. TRANSFER FORM. Ordinary ; Fee 2s. 6d. per deed. THE MAKUM (ASSAM) TEA COMPANY, LIMITED. Incorporated ^th May, 1892. CAPITAL. 100,000 in 100,000 shares of i each, all of which are issued and fully paid. DEBENTURES. Authorised 50,000 5% Debentures of 100 and 50 each, of which 25,000 are issued. They are a first charge on the general undertaking and assets of the Company, and are secured by a Mortgage Deed. To be paid off at par on the 3ist December, 1910, but the Company has power on the 3 1st day of December, 1903, and on each succeeding 3 1st day of December, to redeem one-eighth part of them by yearly drawings. They are issued payable to bearer, but can at any time be registered at the option of the holders. Interest payable half- yearly, on the 1st April and 1st October. OFFICIAL QUOTATION for shares Nos. i to 90,000. Directors. Surgeon-General A. C. C. DERENZY, C.B. (Chairman] CHARLES SANDERSON, Esq. (Deputy -Chairman} EDWARD WAHAB, Esq. JAMES B. LECKIE, Esq. Bankers. THE LONDON AND DELHI BANK, LIMITED, LONDON AND CALCUTTA. BANK OF IRELAND, DUBLIN. Agents in Calcutta. Messrs. BALMER, LAWRIE AND Co. 73 Secretary. EVAN A. JACK, Esq. Offices. BLOM FIELD HOUSE, 85, LONDON WALL, E.C, HISTORY. The Prospectus was dated 5th May, 1892, and stated that the Company was formed for the purpose of purchasing the permanent, heritable and transferable right of use and occupancy of the then existing grant to the Assam Railways and Trading Company, Limited, of 3,201 acres of forest land, situated in Mouzah Makum in the District of Lukhimpore, in the Province of Assam ; also a grant to the same Company on ten years decennial Pottah of another tract of forest land adjoining the above, the object being to develop both these tracts as a tea plantation. The purchase price was fixed at the sum of 10,000, to be taken in fully paid up shares, in addition to which the Vendor Company was recouped in cash for any previous expenses connected with obtaining posession of the lands and cultivation thereof. In November, 1896, the Debentures mentioned above were issued for further development of the Estate. SITUATION AND AREA. The properties are in the Lukhimpore District of Assam, and comprise about 5,100 acres, of which, up to the commencement of 1896, 1,500 had been planted as follows : Up to 3 ist December, 1891 ... 7 5 '93 acres. During ... ... 1892 ... 268*41 1893 491*64 1894 564-02 1895 ... 100-00 Total ... 1,500-00 acres planted. RESULTS AND DIVIDENDS: 1892. Plucking leaf on a very small scale commenced in May. 1893. 10,116 Ibs. tea manufactured. Average price obtained is. ifd 1894. 4i>5 1 5 lbs - Is - Sid. 1895. 100,753 lbs. is. 4d. 1896. An ad interim dividend of 2% has been paid on account of 1896 workings. ACCOUNTS are made up annually to 3ist December, and generally issued together with the Directors report in the July following. DIRECTORS' QUALIFICATION. 1,000 of the shares of this Company. VOTING POWER. One vote for every share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 74 THE MAZDEHEE TEA COMPANY, LIMITED. (SYLHET.) Registered \$>th April, 1890. CAPITAL. 16,320 in 3,264 shares of $ each, all of which have been issued and are fully paid. Directors, Captain C. J. WILKINSON. Dr. T. BEAUMONT. Bankers. THE AGRA BANK, LIMITED. Agents in Calcutta. THE PLANTERS' STORES AND AGENCY COMPANY, LIMITED. Secretaries. Messrs. C. A. GOODRICKE & Co. Offices. WEST INDIA HOUSE, 96, LEADENHALL STREET, E.C. HISTORY. This Company was formed in the early part of 1890 to acquire the property known as the Mazdehee Estate in the Sylhet District. It was intended to further extend the cultivated area by planting up small blocks of land as occasion might arise. AREA. Total 3,174 acres ; 650 of which are planted, 540 being now in full bearing. RESULTS AND DIVIDENDS. The following table shows the results of the working of the Company during the last three seasons : Year. Acres in bear- Crop Sale Weight. Aver- age per Average Cost Average per Ib. Total Profit from all Divi- dend. Remarks. ing. Ibs. acre. per Ib. realised. sources. 1893 500 176,413 357 7- 27 d. 9'2 3 d. 1,739 9 1894 540 185,090 347 6- 7 5d. 9'35d. 1,878 10 60 acres planted. 1895 540 169,650 3-7 7-726. 7'9id. 396 j 50 acres planted. 1 I >37 forward. There was a quantity of tea seed produced and sold each year; the cost of the same is included in the " cost " column, but the sale is not included in the " price realised " column. ACCOUNTS are made up annually to 3ist December and issued about the following April or May, when the dividend for the year is recommended. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 75 THE MEENGLAS TEA COMPANY, LIMITED. Formed December, 1894. CAPITAL. 45,000 in 4,500 shares of 10 each, of which 4,300 have been issued and are fully paid. Managing Agents. There are no Directors of this Company, Messrs. WALTER DUNCAN & Co., of 7, West George Street, Glasgow, being Managing Agents. Agents in Calcutta. Messrs. DUNCAN BROTHERS & Co. Secretaries. Messrs. WALTER DUNCAN & Co. Registered Offices. 7, WEST GEORGE STREET, GLASGOW. HISTORY. The prospectus was issued on the 7th December, 1894, and stated that the Company was formed for the purpose of acquiring the going concern called Meenglas Estate, and for cultivating and extending the same. SITUATION AND AREA. The Estate is situated in the Western Dooars, District of Julpigoorie, Bengal, and is within a few miles of one of the Stations on the Bengal Dooars Railway. It comprises about 3,500 acres of land held direct from Government. When the Company was floated, about 821 acres were under plant, the greater part being in full bearing. Of the unplanted area a large proportion is suitable for Tea, and it is intended to make small extensions annually when favourable opportunities occur. RESULTS AND DIVIDEND. During the year 1895, the first year of the Company's existence, the crop of tea packed amounted to 5 18,796 Ibs., which was sold at an average price of 7'O3d. per lb., resulting in a profit of 2,875, out of which a dividend of 6% was distributed. An ad interim dividend of 3% on account of 1896 workings was paid in December. ACCOUNTS are made up annually to 3ist December, and are issued together with the Annual Report about the March or April following. VOTING POWER. One vote for each share. TRANSFER FORM. Special, to be obtained at the offices of the Company. Fee, 2s. 6d. per deed. 7 6 THE MOABUND TEA COMPANY, LIMITED. Incorporated $otk January, 1884. CAPITAL. Authorised. 300,000 in 300,000 shares of i each, of which the Articles of Association of the Company provide that not more than one-half of the shares for the time being issued, shall be Preference shares. Issued 150,000 in 100,000 Ordinary and 50,000 5% Preference shares. Preference shares are cumulative and have priority as to Capital as well as dividend. It is intended to pay the Preference dividend half- yearly, 1 5th June and 1 5th December ; the first payment will be due I5th December, 1897. Directors. R. J. BOYLE, Esq. (Chairman) JAMES HAY WILLIAMSON, Esq. WILLIAM FREDERICK RABAN, Esq. RICHARD BLAMEY MAGOR, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Secretaries. Messrs. GEORGE WILLIAMSON Co. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed in 1884 with an authorised Capital of 40,000, of which 35,007 was issued with the object of purchasing and extending the then going concern known as the Moabund Estate, 528 acres being at that time planted up. Extensions on a fairly large scale were immediately taken in hand, and during the first ten years of the Company's existence the cultivated area was doubled. In 1892 it was decided to issue the balance of the unsubscribed Capital, in order to meet the cost of upkeep of the young tea and also to provide for outlay on further extensions. In the following year, the nominal Capital of the Company was increased by the creation of 9,500 Ordinary and 12,000 7% Preference shares, the former being allotted in part payment to the proprietor of the Gotoonga Estate which was then purchased for a sum of 18,500. 77 A large proportion of the surplus lands held by the Company being suitable for tea cultivation, it was decided towards .the end of 1896 to increase the Capital of the Company in order to provide funds for opening out new gardens and for developments. The Company was therefore reconstructed early in this year (1897), the Capital being increased to its present amount. The shareholders in the new Company received two shares of the new Capital for each old share, whether Preference or Ordinary ; the balance of the new Ordinary shares was issued at 5s. premium. The Preference share dividend was reduced to 5%. SITUATION AND AREA. The estates are in the Sibsagor District of Assam and comprise an area of 7,139 acres, nearly all of which is held on fee simple ; of these 2,474 acres were planted previous to May, 1 896, 1,670 acres being then four years old and over. RESULTS AND DIVIDENDS. The following table shows the workings of the Company for the last six seasons : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 7 7 /o 1890 596 326,726 55O I2'29d. i6'43d. 5,767 ^ 15 1891 664 307,974 467 i3'O3d. i5-88d. 3,835 CJ 1 rn 10 1892 7 l8 322,778 454 I2*i7d. I4'82d. 3,718 'o c 10 1893 750 358,873 483 8'49d. ir6sd. 4,935 * 10 1894 1,517 866,070 574 7'64d. iO'67d. io,947 7 15 1895 1,670 868,634 523 8-09d. io*64d. 9,358| 7 15 3,380 carried forward to 1896 accounts. Ad interim dividends of 3^% on the Preference and 5% on the Ordinary shares have been paid on the 1896 workings. ACCOUNTS are made up annually to the 3ist December, and issued together with the Directors' report in the June following. DIRECTORS' QUALIFICATION. 500 shares. VOTING POWER. One vote, one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE MORAN TEA COMPANY, LIMITED, Registered loth February ^ 1893. CAPITAL. 30,000 in 6,000 shares of $ each, all of which have been issued and 4. . 53. per share paid up. RESERVE FUND. 6,000. Directors. The Rt. Hon. Lord KlNGSALE (Managing Director). Col. WILLIAM HENRY LANCE. J. N. LAYTON. Esq. J. SPENCER EVANS, Esq. Bankers. DELHI & LONDON BANK, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Offices. 3, EAST INDIA AVENUE, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed in 1893, to ta ^e over, as from the 1st January of that year, the properties previously belonging to a Company of the same name, registered in India. The gardens had at that time been going concerns for many years. SITUATION AND AREA. The Estates are situated in the Sibsagor District of the Province of Assam, and comprise an area of 2,240 acres, of which, according to the last account, 1,109 were planted, 980 acres being in bearing. RESULTS AND DIVIDENDS. The following table shows the work- ing results of the Company since its registration in this country : Year. Acres in bearing. Crop. Sale Weight. Average Ibs. per acre. Average Average cost per Ib. per Ib. realised. Total Profit from all sources. Divi- dend. Ibs. 7 /o 1893 735 397,382 540 9'83d. ! I2'iod. 3>809 10 I8 94 787 412,254 530 9'67d. ! iri9d. 3,656 IO 1895 867 457,866 533 8'3od. io-82d. A,859 10 A balance of 610 was carried forward to 1896 accounts. An ad interim dividend of 5% has been paid on account of 1896 workings. 79 EXTENSIONS on a moderate scale have been made each year out of Revenue as opportunity occurred. ACCOUNTS are made up annually to the 3ist December, and issued in the May following. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. i vote for each 5 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE MUNGLEDYE TEA COMPANY, LIMITED. Incorporated 26th July, 1 874. CAPITAL. Authorised 6 2,000 in 24,800 shares, 4,800 of which are 7% Preference and 20,000 Ordinary shares of 2 los. each. Issued 52,320 in 16,128 Ordinary and 4,800 7% Preference shares, all fully paid. Preference shares are cumulative and have priority as to Capital as well as dividend. This dividend is payable half-yearly. Directors. GEORGE WILLIAMSON, Esq. (Chairman] ROBERT LYELL, Esq. J. A. N. MARTIN, Esq., J.P. Bankers. THE AGRA BANK, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Managing Agents and Secretaries. Messrs. GEORGE WILLIAMSON & Co. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was originally formed in 1874 with an authorised Capital of 200,000, of which 161,280 was issued in shares of 10 each. In 1895 the Capital was reduced to 50,000, the nominal value of the shares being reduced to 2 los. In the same year the Capital was increased to 62,000 by the creation of 4,800 Preference shares. This increase of Capital was made for the purpose of liquidating an old standing debt of 12,000. 8o SITUATION AND AREA. The properties are situated in the Durrung District of Assam and comprise some 9,171 acres all held under fee simple with the exception of 1,489 acres. The cultivated area amounts to 1,439 acres, practically all in bearing. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company during the last seven years : Year. Acres in bearing. 1 Crop Sale Average Weight. Ibs. per acre. Ibs. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 1889 i>393 335,971 243 | io-26d. I0'27d. l2 Nil. 1890 1,409 404,195 289 9'85d. 9'86d. g Nil. 1891 1,409 368,077 265 I072d. i073d. 23 Cfl Nil. 1892 1893 1,409 1,409 371,122 4l6,l86 267 300 10-386. U79d. 2,17$ i>555 1 Nil. Nil. 1894 1,409 431,862 312 9'o6d. ir-Sid A>5i4 Nil. 1895 1,409 426,932 3 08 9'2od. 9'64d. 786 *7% Nil. * At the rate of. An ad interim dividend of 3^% on the Preference shares was paid in December last on account of the 1 896 workings. ACCOUNTS are made up annually to 3ist December and submitted in the May or June following. DIRECTORS' QUALIFICATION. 160 shares. VOTING POWER. I vote for every 5 shares up to 100, and I vote for every 10 shares beyond that number. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE NAHOR RANI TEA COMPANY, LIMITED. Incorporated 2&th December, 1894. CAPITAL. Authorised ,45,000 in 35.000 Ordinary shares and 10,000 5% Preference shares of i each. Issued 40,419 in 35,000 Ordinary and 5,419 Preference shares. Preference shares are cumulative, and have priority as to Capital as well as dividend. 8i Directors. JOHN BURT, Esq., D. M. LUMSDEN, Esq., R. B. MAGOR, Esq. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Secretaries. Messrs. GEORGE WILLIAMSON & Co. Offices. 138, LEADENHALL STREET, LONDON, E.C. HISTORY. This Company was formed to acquire and amalgamate the Nahor Rani and Kolony Tea Estates (then going concerns), situated in Assam, and to further develop the same. During 1895 nearly 2,000 was spent on new cultivation. It is intended to still further develop the properties by yearly extensions on a liberal scale, and for this object the Capital has recently been increased by the creation of the Preference shares. SITUATION AND AREA. The Estates are situated in the Tezpore Durrung District of Assam, and comprise a total area of 1894 acres, of which 1,089 are under cultivation, as follows : Nahor Rani... 486 acres 4yrs.old and over, 172 under 4 yrs.; total 65 8 acres. Kolony ...243 188 431 Total ...729 360 1,089 RESULTS AND DIVIDENDS. The following is the result of the Company's working for 1895 : Acres Crop Average Average Average Total Profit Year. in Sale Weight Ibs. cost per Ib from all Dividend. bearing. Ibs. per acre. per Ib. realised. sources. I8 95 729 389,107 540 7*92d. io- 1 3d. 3,584 >% An ad interim dividend of 2j% has been paid on the 1896 workings. ACCOUNTS are made up annually to the 3ist December and issued, together with the Directors' report, about the June following. DIRECTORS' QUALIFICATION. Every member eligible. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. G 82 THE NEW SYLHET TEA ESTATES, LIMITED. Incorporated December, 1896. CAPITAL. Authorised. 100,000 in 50,000 Ordinary shares of i each, and 5,000 6% Preference shares of 10 each. Issued. 26,000 in 14,000 Ordinary shares (155. paid) and 1,200 Preference shares (fully paid). Preference shares are cumulative and have priority as to Capital as well as dividend. DEBENTURES. 50,000 5% First Mortgage Debentures are authorised, of which 25,000 in 250 Debentures of 100 each have been issued. They are a first charge on the Estate and are secured by a Trust deed. The Company may redeem all or any, on or after ist January 1907, at par, or prior to that date at 105, on giving six months notice in either case. The Company reserves the right to issue the balance of the authorised Debentures to rank pari-passu with the present issue, but this power shall only be exercised for the purpose of purchasing and developing additional property, which shall be duly mortgaged to the Trustees. The interest is payable half-yearly on the ist January and ist July. Directors. CHARLES A. REISS, Esq. (Chairman) W. JOHNSON, Esq. HAMILTON A. HANCOCK, Esq. W. H, INGRAM, ESQ. C. A. GOODRICKE, Esq. Agent in Calcutta. A. C. MATTHEWS, Esq. Secretary. A. B. TOMKINS, Esq. London Agents, Offices. L. REISS BROTHERS & Co. 51, LIME STREET, LONDON, E.C. HISTORY. The Prospectus was issued on the 23rd December, 1896, and stated that the Company was formed to acquire, as a going concern, from the ist January 1897, the Phultola Tea Estate, held from the Government on renewable lease under the 30 years rule, for a sum of 43,625. SITUATION AND AREA. The Estate is situated in the Sylhet District, in the Province of Assam, and comprises about 2,591 acres, of which 775 are under tea ; of these 550 are already in bearing. 83 PAST RESULTS. The Prospectus stated that the amount of tea produced, and profits made during the years 1894 and 1895 were as follows : 1894. 215,201 Ibs. of tea produced ... Profit, 4,006. 1895. 252,137 3,434. The average profits per Ib. of tea for the years 1893 to 1895 was GENERAL. There are about 1,000 acres considered suitable for extensions, which it is proposed to clear and plant out gradually as labour permits. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 250 each. VOTING POWER. Two votes for every Preference share ; i vote for every 5 Ordinary. TRANSFER FORM. Ordinary ; Fee, 2s . 6d. per deed. NOAKACHAREE TEA COMPANY, LIMITED. Incorporated $th December , 1866. CAPITAL. Authorised ^"98,000 in 2,800 shares of 35 each, on which 25 per share has been paid> making a paid-up Capital of 70,000. DEBENTURES. The few outstanding 6% Debentures were paid off last December. Directors. WILLIAM CARPMAEL, Esq. ARTHUR THOMPSON, Esq. W. J. THOMPSON, Esq., Junr. JAMES RIDDELL, Esq. (Managing Director) Bankers. Messrs. PRESCOTT, DIMSDALE, CAVE, TUGWELL & Co., LTD. Agents in Calcutta. Messrs. MACNEILL & Co. Secretary. JAMES RIDDELL, Esq. Offices. 38, MINCING LANE, LONDON, E.C. M 8 4 HISTORY. This Company was formed in December, 1866, to acquire and work certain tea producing properties. SITUATION AND AREA. The Estates are situated in the Sibsagor District of Assam, and comprise an area of 12,604 acres, all held on fee simple tenure. The Chittagong Assam Railway passes through one of the grants. There are at present some 2,430 acres under cultivation, 2,275 of which are in bearing. RESULTS AND DIVIDENDS. The following table shows the work- ings of the Company for the last ten years, 1886 to 1895 : Year. Acres in bearing. Crop SaleWeight Ibs. Av. per Acre. Ibs. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Deben- tures out- standing. Divi- dend. 1886 1,857 593,720 3 2I ii'5od. i2-66d. 3,133 30,500 Jl 1887 I,9OO 548,765 289 I0'92d. I3'i4d. 4,625 27,500 1888 1,992 738,845 371 8'5od. 9'6id. 3,266 24,500 1889 2,042 687,300 331 9 -87d. I0'25d. 748 21,500 1890 2,074 753,335 360 9'ood. io f i7d. 3,481 20,500 1891 2,108 797,610 378 8-ood. 8'5od. 1,380 19,500 2 1892 2,135 669,840 309 8'52d. io-2Sd. 4,516 l8,500 2i 1893 2,233 779,520 345 8'2od. 8'9id. 3,006 17,500 2 J 1894 2,268 800,555 353 7'54d. io7od. 10,121 lO,000 5 1895 2,275 779,120 339 7'O2d. 9'03d. 6,265 6,000 5 A balance of 1,627 was carried forward to 1896 accounts. A satisfactory feature of the workings of the above Company is that in ten years 25,000 of Debentures were paid off out of profits. The balance of 6,000 Debentures, shown in the above table as out- standing in 1895, was paid off in December last. ACCOUNTS are made up annually to the 3ist December, and are submitted, together with the Directors' report, about the May following. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. NONOI TEA COMPANY, LIMITED. Absorbed as from the 1st December, 1892, by THE CilUBWA TEA COMPANY, LIMITED, the Capital of which concern was increased for that purpose. 85 NORTH SYLHET TEA COMPANY, LIMITED. The properties of this concern were purchased by THE CONSOLI- DATED TEA AND LANDS COMPANY, LIMITED. THE OODMARIE TEA COMPANY, LIMITED, ASSAM. Formed July, 1 896. CAPITAL. Authorised 40,000 in 4,000 shares of 10 each, half of which are Ordinary and half 6% Preference shares. Issued ^"25,000 in 1,300 Ordinary and 1,200 Preference shares. Preference shares are cumulative, and have priority as to Capital as well as dividend. Directors. The Rt. Hon. LORD KINGSALE. JOHN BULLOCK, Esq. FREDERICK WILLIAM JAMIESON, Esq. CHARLES LIONEL PRESCOTT WHITE, Esq. Bankers. BRITISH LINEN COMPANY BANK. Agents in Calcutta. Messrs. MACNEILL & Co. Secretary. HERBERT R. BROWNRIGG, Esq. Offices. 9, MINCING LANE, LONDON, E.C. HISTORY. Trie Prospectus was issued on the 6th July, 1896, and stated that the Company was formed to acquire, as from the 1st January of that year, and work as one concern, the three Tea Estates known as Oodmarie, Balijuri and Lung Soong, situated in the Nowgong District of Assam. The properties were at the time of purchase going concerns. AREA. The three Estates comprise 3,216 acres, of which 687 are cultivated ; they are held partly in " fee simple," but principally under renewable leases from Government ; there are a few acres held under ordinary yearly pottah. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 100. VOTING POWER. One vote, for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 86 RAJMAI TEA COMPANY, LIMITED. Incorporated 2^rd May, 1890. CAPITAL. Authorised. 65,000 in 6,500 shares of 10 each. Issued. 56,000 in 5,600 shares, all of which are fully paid. DEBENTURES. 5,000 5% Mortgage Debentures ; repayable at par on 1st January, 1900. Directors. Major-General C. HOLROYD (Chairman). The Rt. Hon. LORD KINGSALE. R. B. MAGOR, Esq. (Managing Director) Bankers. MERCANTILE BANK OF INDIA, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & CO. Secretaries. Offices. Messrs. GEO. WILLIAMSON & Co. 138, LEADENHALL STREET, E.C. SITUATION AND AREA. The Estates are situated in the Sibsagor and Dibrooghur Districts of Assam, and comprise a cultivated area of 1,41 1 acres, including Rajmai division 727, Behora 308, and the Borbarrie 376 acres. RESULTS AND DIVIDENDS. The following table shows the workings of the Company for the past six years, exclusive of Borbarrie and Bazalony, which were not taken over until 1st January, 1897 : Year. Acres 4 years old and over. Crop. SaleWeight Ibs. Average Ibs. 3er acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 7 /o 1890 535 358,282 678 8'84d. IT24d. 3,585 IO 1891 545 411,261 763 8'29d. 9'68d. 2,366 8 1892 757 405,045 543 10'isd. i2-8sd. 4,637 IO 1893 770 459,313 607 9'6id. 1 2'64d. 5,797 10 1894 851 510,824 612 8'86d. ir6od. 5,836 IO 1895 884 562,854 649 6-83d. I0'i6d. 7,813 10 Debenture Interest not charged in above calculations. A balance of 5410 was carried forward from 1895 accounts. HISTORY. This Company was formed in 1890, with a fully subscribed capital of 30,000, to acquire and work, as from 1st January of that year, the property then known as the Rajmai Tea Estate. In December, 1891, it was decided to purchase the Behora Estate for i 1,000, in paid up shares, and the Capital of the Company was increased to 50,000 for that purpose. It has since acquired the Borbarrie Estate and Bazalony Seed Gardens for 15,000, for which purpose the Capital of the Company was further increased to 65,000. An adinterim dividend of 5% on account of season 1896 has been paid. ACCOUNTS are made up annually to 3ist December, and issued, together with Directors' report, about the following May or June. DIRECTORS' QUALIFICATION. Every member shall be eligible. VOTING POWER. One vote, one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE REMA TEA COMPANY OF SYLHET, LIMITED. Prospectus issued nth March, 1896. CAPITAL Authorised. 50,000 in 5,000 shares of 10 each. Issued. 30,000 in 3,000 shares ; 8 per share on 2,250 shares had been called up at the end of December, 1896. The balance will be called up as required. Directors. FREDERIC GEORGE PAINTER, Esq. (Chairman), The Rt. Hon. LORD KINGSALE, ERNEST EDWARD SAWYER, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Agents in Calcutta. Messrs. McLEOD & Co. Secretaries. Messrs. D. M. STEWART & Co. Offices. 3, EAST INDIA AVENUE, LONDON, E.C. HISTORY. This Company was formed to acquire as from the 1st January, 1896, from the Rema Tea Syndicate, the Rema Tea Estate in South Sylhet, in the Province of Assam. The land is held direct from Government and is at present rent free, but subject later on to a rent of about Rp. i . 8 as. per acre. AREA. The Estate consists of a grant of land comprising 1,911 acres or thereabouts, 600 of which were opened out and planted with tea during the year 1895 and 400 in 1896, total 1,000 acres. ACCOUNTS will be made up annually to the 3 1st December and issued in the following April. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. SCOTTISH ASSAM TEA COMPANY, LIMITED. Formed 1865. CAPITAL. Authorised 100,000 in 10,000 shares of 10 each. Issued 79,590 in 7,959 shares, all fully paid DIVIDEND RESERVE FUND. 5,000. WORKING BALANCE. 7,674. Directors. GEORGE WILLIAMSON, Esq. JAMES MORTON, Esq. T. R. MARSHALL, Esq. T. DEAS BOYD, Esq. ROBERT TURNBULL, Esq. COLIN GEORGE MACRAE, Esq. Bankers, COMMERCIAL BANK OF SCOTLAND, LIMITED. CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA, LIMITED. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Secretary. J. F. MOFFATT, Esq., C.A. Offices. 95A, GEORGE STREET, EDINBURGH. 8 9 HISTORY. This Company was formed in 1865 to purchase the Heelekah, Mazengah and Karsoolie Estates, and to cultivate and further extend the same. SITUATION AND AREA. The Estates are in the Sibsagor District of Assam, and comprise some 6,000 acres, of which 1,018 acres are cultivated, 905 being now in bearing. RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop SaleWeight Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1891 764 370,928 492 8'82d. io- 49 d. 2,578 4 1892 776 '373P42 487 7'63d. H'29d. 5,683 5 1893 797 397,343 504 7'27d. I0'5id. 5,565 6 1894 820 435,224 537 6-59d. io-83d. 8,079 7 1895 843 485,047 581 6- 4 od. 9'95d. 7,590 7 Dividends are paid in June. GENERAL. Gradual extensions out of Revenue are being made, principally on the Heelekah garden, and during the last four years some 170 acres have been planted up. It has recently been decided to plant up by instalments, extending over three years, some 300 acres near the Heelekah division, to be paid for out of Capital. ACCOUNTS are made up annually to the 3ist December, and issued to the Shareholders prior to Annual Meeting in June. VOTING POWER. i vote for every 5 shares up to 100, and i vote for every 10 shares beyond that number. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE SINGLO TEA COMPANY, LIMITED. Prospectus issued 26lk March^ 1895. CAPITAL. Authorised 300,000 in 17,000 Ordinary and 13,000 Preference shares of 10 each. Issued 210,000 in 10,500 Ordinary and 10,500 Preference shares. Of these 500 Ordinary and 2,500 Preference shares were issued in February, 1897, at a premium of 2 each on the Ordinary and 3 on the Preference shares. They will not be fully paid until after September next 90 The dividend on the Preference shares is payable half-yearly, viz., in January and July. RESERVE FUND. 7,869. OFFICIAL QUOTATION. Ordinary shares Nos. 16,634 to 23,000 and Preference Nos. 2,667 to 8,000 are quoted on the Stock Exchange. Directors. W. H. VERNER, Esq. (Chairman), H. N. GLADSTONE, Esq., Sir W. W. HUNTER, K.C.S.I., C.I.E., W. S. WELLS, Esq., J. F. OGILVY, Esq., C. A. VERNER, ESQ. Bankers. ROYAL BANK OF SCOTLAND. Agents in Calcutta. Messrs. GiLLANDERS, ARBUTHNOT & Co. Secretary. H. F, TURNER, Esq. Offices. 60, GRACECHURCH STREET, LONDON, E.G. HISTORY. This Company was formed to take over, as going concerns, from the 1st January, 1895, and unite under one management, the Tea Estates belonging to the following then existing Tea Companies, viz. : In Assam, those of the Singlo Tea Company, Limited, and of the Jaboka Tea Company, Limited ; and in the Dooars, that of the Kisna Tea Company, Limited. All the Estates are held under leases (renewable in perpetuity under the Government regulations) direct from the Indian Government, with the exception of 458 acres held on a yearly tenure. As the Company owns a large quantity of uncultivated land suitable for tea, it has recently been decided to carry out regular but moderate extensions during the next few years, and a further issue of Capital has been made as stated above. AREA. According to the last report the Estates comprised : Singlo Division ... 9,072 acres, of which 1,768 acres were under Tea. Jaboka Division ... 4,832 936 Kisna Division ... 10,154 869 Total ... 24,058 3,573 91 RESULTS AND DIVIDENDS. The following are the results obtained during the year 1895, which was the first year of the Company's existence : Estate. Acres in bear- ing. Outturn in Ibs. Average gross cost. Average gross price obtained. Total Profit from all sources. Dividend. Remarks. Pref. Ord. Single 738,485 I0'99d. Jaboka 271,484 12-gid. Kisna 308,155 7 - 9 8d. 1 Totals 2,925 1,318,124 * 9 - 34 d *ii'52d ^11,873 6& 80/0 ^"2,535 to Reserve. Including upkeep of and price realised for Tea seed produced, which amounted to 4,742 in value. For 1896 2%/ Q ad interim dividend on the Ordinary and the Preference shares was paid in January. on GENERAL. The Company has a large area of land still unplanted, and the Directors propose to avail themselves of this reserve by carrying out regular but moderate extensions during the next few years. For this purpose further Capital will be required. ACCOUNTS are made up annually to 3ist December, and are issued about the following May or June, when the dividend on the Ordinary shares is announced. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. SOUTHERN INDIA TEA ESTATES COMPANY, LIMITED. Formed March, 1895. CAPITAL Authorised. 40,000, in 4,000 Ordinary and 6% Preference shares of 10 each. Issued. 25,000 in 2,100 Ordinary and 400 Preference shares, all fully paid. 92 Preference shares are cumulative, and have priority over the Ordinary shares as to Capital as well as dividends. DEBENTURES. 5,000 6% Debenture Bonds of 50 each, secured by a Mortgage deed on the property, and repayable at par on March 1st, 1906. Directors. WILLIAM FORBES LAURIE, ESQ. THEO. CHARLES OWEN, Esq. ALFRED VALENTINE HOLLAND, Esq. i Bankers. NATIONAL BANK OF INDIA, LIMITED. Agents in London. Messrs. ROWE, WHITE & Co. Secretary. Offices. A. J. ROUSE, Esq. 1 6, PHILPOT LANE, LONDON, E.C. HISTORY. The Company was formed in 1895 to acquire, work, and develop the Kaduwa Karnum Tea Estates. It also acquired, as from January 1st, 1896, the Glen Mary and Westerton Estate. It is proposed to gradually extend the area under cultivation. SITUATION AND AREA. The Estates are in the District of Peermaad, Travancore, Southern India, and are at an elevation of 3,300 to 4,200 ft. above sea level; they cover a total area of 1,937 acres, of which about 900 are planted with tea, varying in age from one to eleven years. The rainfall on the Estates averages 200 inches per annum. RESULTS AND DIVIDENDS. According to the report for the year ending February, 1896, a nett profit of 1,175 was earned, after paying Debenture interest and preliminary expenses incurred in the formation of the Company. Out of this a dividend of 10% was paid, and a balance of 75 was carried forward. On the 7th October, 1896, an interim dividend of 5% was paid. ACCOUNTS are made up annually to the end of February, and issued in the following April. DIRECTORS' QUALIFICATION. 100. VOTING POWER. One vote for every Ordinary share up to 10 ; one additional vote for every 5 shares up to 100, and one for every 10 beyond the first 100. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 93 SOUTH SYLHET TEA COMPANY, LIMITED. The properties of this concern were purchased by the CONSOLIDATKD TEA AND LANDS COMPANY, LIMITED. THE SOUTH TRAVANCORE TEA COMPANY, LIMITED. Formed July, 1 896. CAPITAL. Authorised ^"50,000 in 5,000 shares of 10 each, divided into 2,500 6/ Q Preference and 2,500 Ordinary shares. Issued 27,500 in 1,375 shares of each denomination. Preference shares are cumulative, and have priority as to Capital as well as dividend. Directors, T. C. OWEN, Esq. A. V. HOLLAND, Esq. NEILL GRAEME CAMPBELL, Esq. H. M. KNIGHT, Esq. Bankers. NATIONAL BANK OF INDIA, LIMITED. Agents in London. Messrs. ROWE, WHITE & Co. Secretary. Offices. E. LANGLEY, Esq. 16, PHILPOT LANE, LONDON, E.G. HISTORY. The Prospectus was dated 27th July, 1896, and stated that the Company was formed for the purpose of taking over, as going concerns, as from the 1st July of that year, the Venture, Arnichardi and Neddumpara Estates, and also from ist September the Nagamally Estate, all situated in South Travancore, Southern India, and com- prising a total area of about 2,304 acres, of which about 850 were under tea, 125 under coffee, and 6 under nutmegs. They stand at an average elevation of i,iooft. Nearly all the tea is in full bearing. The Naga- mally, Arnichardi and Neddumpara Estates are freehold ; Venture is held under lease at a nominal quit-rent from the Government, and is renewable at the option of the Company. No Debentures will be issued against the properties except with the assent of a majority of two-thirds 94 of the Preference shareholders. The purchase price of the Venture, Arnichardi and Neddumpara Estates was fixed at 26,000, payable as to 10,000 in Ordinary shares and 3,250 in Preference shares, and the balance, 12,750, in cash; the Company paid costs and charges inci- dental to its formation. The Nagamally Estate was subsequently bought for 4,000. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 100. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. SUDDIA ROAD TEA COMPANY, LIMITED. Incorporated 17 th October, 1892. CAPITAL. 25,000 in 2,500 shares of 10 each, all of which are issued and fully paid. Directors. F. R. BULLOCK, Esq. (Chairman) S. COCHRANE, Esq. GLOSTER MARSHALL, Esq. R. GORDON SHAW, Esq. Bankers. ROYAL BANK OF SCOTLAND. Agents in Calcutta. Messrs. SHAW, WALLACE & Co. A uditors. Messrs. W. F. TURNER, SEARLE & Co. London Agents and Secretaries. Messrs. R. G. SHAW & Co. Offices, 88, BISHOPSGATE STREET WITHIN, LONDON, E.G. HISTORY. There was no Prospectus issued, this Company being subscribed for privately. It was formed towards the end of 1892 with the object of acquiring about 1,000 acres of land, a small portion of which was already under young Tea. Extensions were immediately taken in hand, and according to the last report there are some 816 acres under cultivation. Buildings have been erected and machinery sent out, the Estate being now fully equipped. SITUATION. The property is in the Luckimpore District of Assam. 95 RESULTS. There was a small quantity of green leaf gathered in the years 1893 and 1894, which was sold to a neighbouring garden. In 1895 the crop totalled 77,532 Ibs., which sold at an average of nearly is. 8Jd. per Ib. ACCOUNTS are made up annually to 3ist December, and submitted with the Directors' report about the May following. DIRECTORS' QUALIFICATION. 250. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE SYLHET TEA COMPANY, LIMITED. Incorporated igth February, 1894. CAPITAL Authorised 12,000 in 1,500 shares of 8 each. Issued i 1,872 in 1,484 shares of S each, all fully paid. Directors. General J. R. McMULLlN (Chairman). Major-General JAMES REID. General J. M. WALTER. Bankers. Messrs. GRINDLAY & Co. Agents in Calcutta. Messrs. GRINDLAY & Co. Secretaries. Messrs. C. A. GOODRICKE & Co. Offices. WEST INDIA HOUSE, 96, LEADENHALL STREET, E.C. HISTORY. This Company was formed in February, 1894, to take over, as a going concern, the property of a Company of the same name, at that time registered in India, and which was then liquidated for that purpose. It is the intention of the Management to plant up a small quantity of land each year as opportunity and labour may permit, the extensions to be paid for out of Revenue. AREA. The total area of the Company's grants is estimated at 2,291 acres, of which about 622 acres are under tea. 9 6 RESULTS AND DIVIDENDS. The following table shows the workings of the Company for the past two years : Year. Crop Produced. Ibs. Average per Ib. realised. Total Profit from all sources. Dividend. Balance carried forward. I8 94 163,520 8Jd 1,895 7 /o 10 708 I8 95 166,091 7d. 1,524 12 832 An ad interim dividend of 5% was paid in January, 1897, on account of 1896 workings. ACCOUNTS are made up annually to 3ist December and issued with Directors' Report about the middle of March, when the final dividend for the year is recommended. DIRECTORS' QUALIFICATION. 200 of the nominal share Capital. VOTING POWER. One vote for every share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. TINGRI TEA COMPANY, LIMITED. Incorporated 6th August, 1895. CAPITAL. Authorised 60,070 in 6,007 shares of 10 each. Issued 56,500 in 5,650 shares, which are fully paid. Directors, SAMUEL BIRD, Esq. (Chairman). GEORGE JAMIESON SCOTT, Esq. JAMES HAY WILLIAMSON, Esq. Captain WILLIAM J. BIRD. R. B. MAGOR, Esq. Bankers. NATIONAL BANK OF INDIA. Agents in Calcutta. Messrs. WILLIAMSON, MAGOR & Co. Secretaries* Offices. Messrs. GEO. WILLIAMSON & Co. 138, LEADENHALL STREET, E.C. HISTORY. This Company was formed to acquire and work the Estates of the then going concern known as the Tingri Tea Company, registered in India. The Estates were taken over from the ist January, 1895. 97 AREA. The Estates comprise a cultivated area of 1,077 acres, of which about 1,000 are in full bearing. RESULTS AND DIVIDENDS. The following shows the working results obtained during the first year of the Company's existence : Year. Acres over 3 years old. Crop Produced. Ibs. Average Ibs. per acre. Crop. Sale Weight. Ibs. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1895 999 430,502 431 422,755 io-33d. I2'94d. ^5,8" 10% Tea seed realised about 1,300. Its cost oj production is included in the above table in the " cost column " but not the "price realised, 1 ' excepting in the column showing nett profit. ACCOUNTS are made up annually to 3ist December, and issued about the May following, when the final dividend is declared. DIRECTORS' QUALIFICATION. 10 shares. VOTING POWER. i vote for every 10 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. TIPHOOK TEA COMPANY, LIMITED. Incorporated 2Oth November, 1869. CAPITAL. Authorised -*>> in 3,000 shares of 10 each. Issued 28,000 in 2,000 shares (fully paid), and 1,000 shares on which 8 has been paid. RESERVE FUND. 1,002. Directors. WILLIAM C. BRADDON, Esq. WILLIAM ROBERTS, Esq. ROBERT TUCKER, Esq. Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. Secretary. FREDERICK A. ROBERTS, Esq. Agents in Calcutta. Messrs. BEGG, DUNLOP & Co. Offices. 138, LEADENHALL STREET, E.C HISTORY. This Company was formed in 1869 to acquire and work, as from the ist January of that year, the Tiphook Tea Plantation 98 and Estate; the purchase price was 17,280, which was paid in the shares of the Company. The Estate at that time comprised some 320 acres under cultivation. Extensions were immediately taken in hand, and a small quantity of new shares issued in 1874 for that purpose; again in 1877, 1,000 shares were issued for the same object. No further issue has since been made. The Reserve Fund was founded in 1881. SITUATION AND AREA. The Estates are situated in the Sibsagor District of Assam, and comprise some 1,953 acres, of which 1,020 are under cultivation and also in bearing. RESULTS AND DIVIDENDS: Year. Acres over 3 years. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised Total Profit from all sources. Divi- dend. 1890 870 215,813 10'OOd. ir82d. 1,636 5 1891 870 244,183 I0'23d. 9'25d. 985 loss 1892 883 212,820 243 9'67d. io-65d. 864 3 1893 9 62 26l,2O2 273 8-i2d. 9'i5d. 1,115 5 1894 1,005 222,510 223 8'76d. io-66d. 1,766 6 1895 I,O2O 254,902 2 5 6 8-37d. io-i8d. 1,923 7 ACCOUNTS are made up annually to the 3ist December, and issued in the July following. VOTING POWER. i vote for every share on first 10 shares, i vote for every 5 shares from 10 to 100, and I vote for every 10 shares beyond 100. TRANSFER FORM. Ordinary ; Fee, nil. THE UPPER ASSAM TEA COMPANY, LIMITED. Incorporated %th October, 1 862. CAPITAL. A uthorised 260,000 in 25,000 Ordinary shares of 10 each and 2,000 1 5% Preference shares of $ each. Issued 210,000 in 20,000 Ordinary and 2,000 Preference shares. Ordinary shares. Of the Ordinary shares issued, 2,188 were forfeited, and of these 1,113 were sold, leaving at the disposal of the Company 1,075. Preference shares are cumulative. Dividend was last paid on these shares to December, 1876. 99 DEBENTURES. 140,200 6% Debentures, 60,000 being series "C" and 80,200 series " D." They are secured by a Mortgage on the Com- pany's Estates in India. The " C " Debentures are repayable at par on the ist October, 1900. The "D" Debentures arc redeemable at par by annual drawings of not less than 2,000, commencing on any ist day of October not later than 1 899. The interest on both classes of Debentures is payable on the ist April and ist October. One year's interest is in arrears on the " D " shares. DEBIT. The Profit and Loss Account shows a debit balance of 144,036. OFFICIAL QUOTATION. For Ordinary shares only. Directors, F. R. BULLOCK, Esq. (Chairman) JOHN GOULD, Esq. Major J. GRAHAM EDWARDES, R.A. JOHN BULLOCK, Esq. Agents in Calcutta. Messrs. MACNEILL & Co. Secretary. J. CONNOLLY, Esq. Offices. 2, EAST INDIA AVENUE, E.C. SITUATION AND AREA. The Estates are situated in the Debroo- ghur district, and comprise about 9,000 acres, of which 3,266 are under tea, 2,917 being in bearing. RESULTS AND DIVIDENDS: Year Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Interest payments. 1890 1,050,601 I2'32d. I4'i6d. 8,773 9,471 1891 1,175,369 1 0'4 id. I2'iid. 8,531 9,782 1892 1,239,599 9'69d. 1 1 *96d. 1 1, 945 9,733 1893 1,312,677 8'5 4 d. iO'i6d. 8,404 9,6lO 1894 3>26; 1,243,458 384 8'29d. I0'62d. 12,300 9,896 1895 3,348 1,360,177 413 8'26d. I0'i6d. 10,868 10,035 * Before payment of Debenture interest. HISTORY. This Company was formed in 1862 to acquire and work some then going concerns, comprising a total planted area of 1,936 acres. During the last few years more attention has been paid to extensions, H2 IOO and as a result there are some 300 or 400 acres planted, which will shortly be in bearing. During 1896 the Oodmaree and Ballyjoorie Estates in the Nowgong District were disposed of. ACCOUNTS are made up annually to the 3 1st December and issued about the following June. DIRECTORS' QUALIFICATION. Shares of the nominal value of 1,000. VOTING POWER. One vote in respect of every complete 200 of paid-up Capital. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. CEYLON COMPANIES, THE ALLIANCE TEA COMPANY OF CEYLON, LIMITED. Formed January, 1895. CAPITAL. Authorised 100,000 in 10,000 shares of 10 each. Issued 50,000 in 5,000 shares ; fully paid. DEBENTURES. 36,000 6% Debentures of 100 each, secured by a Mortgage on the properties. The amount of Mortgage Debentures issued at any time is not to exceed half of the aggregate purchase consideration paid for the Estates acquired by the Company. The Debentures issued were fixed for a term of 10 years, so will be redeem- able in 1905 at par. The interest on them is payable half-yearly, viz., on the ist January and 1st July. Directors, JOHN BELL- IRVING, Esq. (Chairman) E. J. YOUNG, Esq. R. S. CORBETT, Esq. Bankers. THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA. Agents in London. Agents in Colombo. Messrs. J. WHITTALL & Co. Messrs. WHITTALL & Co. Secretary. Offices. W. H. BARTLETT, Esq. 9, FENCHURCH AVENUE, E.C. HISTORY. The Prospectus was issued on the 29th January, 1895, and stated that the Company was formed to acquire, work, and further develop certain Tea Estates in Ceylon, viz., Uda Radella, Aberdeen, Calsay, Gleneagles, and Luccombe Group. Each of these properties was a going concern and equipped with a factory and machinery, except in the case of Gleneagles. The price paid for these Estates was 68,000. When the Company was floated 4,000 shares and 300 De- benture bonds were issued, and shortly afterwards a further issue of i ,000 shares and 60 Debenture bonds was made in order to purchase the Thornfield Estate. SITUATION AND AREA. The Uda Radella and Aberdeen Estates are situated in the Lower Dikoya District, the Calsay, Gleneagles and Thornfield Estates in the Dimbula District, and the Luccombe Group 103 partly in Maskeliya and partly in Dikoya. They comprise 2,851 acres, of which 2,365 are unde*r tea, 2,239 being in bearing. RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Net Profit. Divi- dend. 1895 2,239 810,941 368 5'88d. 8-2/d. '8,150 o% * After payment of all charges excepting Debenture interest. A small quantity of tea was sold in Ceylon, on which freight and home charges have been estimated for. There was also a very small quantity of coffee sold there, but not sufficient to materially alter the above figures. An ad interim dividend of 5% has been paid on the 1896 workings. The report for 1895 says that 794 spent on new tea clearings, building and machinery, was charged to Profit and Loss, in lieu of writing off an amount for depreciation of machinery and plant for the year, besides which a sum of 1,103, being the whole amount of preliminary ex- penses, was also debited to Profit and Loss Account. 120 was carried forward to 1896 account. ACCOUNTS are made up annually to 3ist December and issued, together with Directors' report, about the March following. VOTING POWER. One vote each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE ANGLO-CEYLON & GENERAL ESTATES COMPANY, LIMITED. CAPITAL. A uthorised 250,000 Consolidated Stock. Issued and paid up. All. DEBENTURES. 16,600 4j% Debentures, in bonds of 100 each, forming a floating charge on the property of the Company, and repayable at par in 1920. Also 150,520 6% Mortgage Debentures secured by a trust deed comprising the Company's Ceylon Estates and repayable at par in 1920, or at the option of the Company at any time after 1905 on 12 months notice. The interest on both classes of Debentures is payable half- yearly, viz., on the 1st April and 1st of October. IO4 There is also a 13,645 75. 8d. Mauritius Government Mortgage, which is being repaid by the operation of a sinking fund. RESERVE FUND. 6,000. Directors. QuiNTIN HOGG, Esq. (Chairman] CLAUDE E. S. BISHOP, Esq. ALEX. W. CRICHTON Esq. (Managing Director) NORMAN WILLIAM GRIEVE, Esq., HENRY KERR RUTHERFORD, Esq. Bankers. PARR'S BANK, LIMITED. Agent in Ceylon. Agent in Mauritius. JOHN NORMAN CAMPBELL, Esq. FREDERICK W. NASH, Esq. Secretary. HENRY GREEY, Esq. Offices. SOUTHSEA CHAMBERS, 97 & 98, BISHOPSGATE STREET WITHIN, LONDON, E.C. HISTORY. This Company was originally formed under the title of The Oriental Bank Estates Company, Limited, and took over from the Oriental Bank Corporation, when in liquidation, a large part of its Estates in Ceylon and Mauritius. Since that time some of the estates have been disposed of. The name of the concern is now being altered to the above title. The Capital of the Oriental Bank Estates Company was divided into Preference and Ordinary shares, which, under resolutions of the Company, passed and confirmed in December, 1896, and January, 1897, were exchanged for the above 250,000 Stock. SITUATION AND AREA. The estates in Ceylon are situated in various districts, and comprised, in March, 1896, a total of 12,950 acres, of which 6,709 are under tea cultivation, 1,221 under cocoa, coffee, and cardamoms, and 5,020 Forest reserve, &c. Of the land under tea, 5,169 acres were then in bearing. RESULTS AND DIVIDENDS. The Debenture interest on both classes of Debentures has been regularly paid out of profits, and dividends on both the Preference and Ordinary shares above mentioned were paid at the rate of 7% and $% respectively from 1886 to 1892. A dividend on the Preferred shares was again paid in 1894, and a dividend of 7% was paid on the Preferred shares in February, 1 897, and the arrears of dividend on the Preferred shares were secured by Surplus Certificates IDS issued to holders of such part of the above 2 50,000 Stock as represents the Preferred shares. The Surplus Certificates are to be paid off, without interest, out of half the profits of the Company, after the holders of Stock have received 6/o for the year. According to the accounts for the year ending 3ist March, 1896, a crop of 1,649,577 Iks. f tea was produced, besides a quantity of cocoa, coffee and sugar. The tea sold at an average price of 8'56d. per lb., and a total profit from all sources of 23,655 was realised from the year's working. ACCOUNTS are made up annually to the 3ist March and issued in the July following. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote for every 5 Stock. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE ASSOCIATED TEA ESTATES OF CEYLON, LIMITED. Formed July, 1 896. CAPITAL. Authorised 150,000 in 15,000 shares of 10 each, 8,000 of which are 6% Preference shares and 7,000 Ordinary shares. Issued. 110,000 in 6,000 Preference and 5,000 Ordinary shares, all of which are fully paid. Preference shares are cumulative, and have priority as to Capital as well as Profits. The dividend on these will be paid half-yearly, viz., on the 3 ist March and 3Oth September. OFFICIAL QUOTATION. Ordinary shares Nos. 8,00 1 to 13,000 and Preference Nos. I to 6,000, quoted on London Stock Exchange. The Directors' powers of borrowing are limited to 20,000 for the general business of the Company ; beyond that sum no Debentures or charges on the Company's properties can be created without the sanction of the Shareholders at a General Meeting. Directors. Sir ALEXANDER WILSON. S R. EARLK, Esq. JOHN McEwAN, Esq. io6 Bankers. THE BANK OF SCOTLAND. Agents in Colombo. Messrs. FINLAY, MuiR & Co. Secretaries and Managing Agents. Messrs. McMEEKlN & Co. Offices. 31, BILLITER BUILDINGS, E.C. HISTORY. The Prospectus was dated i6th July, 1896, and stated that the Company was formed to take over as going concerns, and amalgamate under one management, the following properties in Ceylon, and to purchase further estates as opportunity might occur. SITUATION AND AREA : Name of Estate. District. Acres under tea. Forest Chena, etc. Total. Full bearing. 4 years. Under 4 years. Chesterford Kelani Valley 2/8 15 266 250 809 Silver Kandy Uda Pussellawa 210 20 54 284 Doragalla Pussellawa 620 371 991 Horagoda Kalutara ISO 20 248 418 Madultenne Kelani Valley ISO 52 85 28 7 1,408 15 358 I, O08 2,789 It will be seen that about 20% of the area under plant is young tea, and will be shortly coming into bearing. The estates are distributed over high and low country, the properties ranging from an elevation of 450 ft. in the Kelani Valley, to 5,500 ft. above sea level in Uda Pussellawa. The price paid for the five estates was 103,720, leaving a balance of 6,280 out of the first issue for working Capital. All expenses in connection with the formation of the Company down to allotment were paid by the Vendors. It was estimated that the tea in full bearing produced 450 Ibs. per acre. DIVIDEND. Ad interim dividends of 3% have been declared on both classes of shares. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. Shares of either class of the nominal value of 500. VOTING POWER. One vote for every share held. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 107 THE AUGUSTA TEA ESTATES COMPANY, LIMITED. Formed November, 1 896. CAPITAL. Authorised 50,000 in 30,000 Ordinary shares of i each and 4,000 6/ Q Preference shares of 5 each. Issued 8,000 in 5,000 Ordinary and 600 Preference shares. Preference shares are cumulative, and have the right, in the event of winding-up, to repayment of Capital in priority to all other shares. DEBENTURES. Authorised 25,000. Issued 6,000 5% Deben- tures in bonds of 100 each, secured by a Mortgage of the Estate to Trustees, and by a floating charge in their favour on the general undertaking of the Company. They, or any portion of them, are redeemable on or after the 1st January, 1907, at par, or prior to that date at 105, on giving six months notice in either case. The Company reserves the right to issue the further 19,000 to rank pari-passu with the existing issue, but this power shall only be exercised for acquiring additional property which shall be similarly mortgaged. Trustees for Debenture- Holders. A. ZIMMERN, Esq. H. S. HANCOCK, Esq. Directors. CHARLES ARTHUR REISS, Esq. (Chairman) EDWARD HENRY HANCOCK, Esq. HAMILTON A. HANCOCK, Esq. T. J. LAWRANCE, Esq. HENRY WILLS, Esq. {Managing Director in Ceylon] Agents in London. Messrs. L. REISS BROS. & Co. Secretary. Offices. A. B. TOMKINS, Esq. 51, LlME STREET, LONDON, E.C. HISTORY. The Prospectus was dated 1st December, 1896, and stated that the Company was formed to take over as from the 1st October, and to work and extend, the Augusta Estate, at that time a going concern. The price paid for the Properties was 14,000, payable as to 5,000 in Ordinary shares and 9,000 in cash. SITUATION AND AREA. The Estate is situated in the Hantane District of Ceylon, within \\ miles of the Railway, and comprises 212 acres, all of which are planted up, 200 being in bearing. ACCOUNTS. None yet issued. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. io8 THE BANDARAPOLA CEYLON COMPANY, LIMITED. Registered November, 1892. CAPITAL. Authorised 50,000 in 5,000 shares of 10 each. Issued 30,000 in 3,000 shares, 700 of which are Vendors, fully paid, and 2,300 have 5 paid (the 5 per share uncalled being specifi- cally charged to secure the Debentures). DEBENTURES. 11,500 5% Debentures in bonds of 50 each and multiples thereof, secured against the uncalled Capital of the Company, which is at no time to be of a less amount than the Debentures out- standing. They are further secured by a floating charge on the property of the Company. The Debentures are repayable at par on the 1st January, 1899, 9,000 ; ist January, 1900, 2,500. The interest is payable half-yearly, on the ist January and ist July. RESERVE FUND. 500. Directors. GEORGE W. PAINE, Esq. (Chairman) CHARLES J. SCOTT, Esq. SIR GEORGE A. PILKINGTON. HUGH FRASER, Esq. (Managing Director) Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Secretaries. Offices. Messrs. LYALL, ANDERSON & Co. 16, PHILPOT LANE, E.C. HISTORY. The Prospectus was circulated in November, 1892, and stated that the Company was formed to purchase, as from the ist January, 1893, the g m g concerns known as Bandarapola and Muen- deniya Estates, and to work and further extend the same. The price paid for the properties was 21,000, viz., as to 7,000 in fully-paid shares, 7,000 in Debentures and 7,000 in cash. SITUATION AND AREA. The Estates are situated in the Matale District, within 4^ miles by road of the Railway terminus. They com- prise 1,518 acres, nearly all freehold land, of which 643 are planted with tea and 216 with cocoa. Of the tea 417 acres are producing; part of the cocoa is also in bearing, the crop for 1896 being 142 cwts., and the balance will come into bearing in two years. The tea crop for 1896 totalled 346,150 Ibs. 109 RESULTS AND DIVIDENDS Year. Acres in bearing. Tea Crop Sale Weight. Ibs. Average Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Divi- dend. 1893 286 168,092 612 5'26d. 6-8sc. NOTE. 128 cwt. of coffee included in 1895 figures. SITUATION AND AREA. The Venture Estate is in the Bogawanta- lawa District, 8 miles from Hatton Railway Station. It comprises 406 acres, of which 389 are under tea in full bearing. Selegama is in Matale North, 12 miles from the Railway Station at Matale, and at an altitude of 2,200 to 3,200 ft. above sea level. It comprises 937 acres, 500 of which are under tea, about 200 being in full bearing. ACCOUNTS are made up annually to 3Oth June, and issued about the following November. DIRECTORS' QUALIFICATION. 100. VOTING POWER. One vote per share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CAROLINA TEA COMPANY OF CEYLON, LIMITED. Formed July, 1 892. CAPITAL. 60,000 in 5,000 Ordinary and 1,000 Deferred shares of 10 each, all issued and ranking as fully paid. The Deferred shares were issued to the Vendors in part payment of the Estates. They rank for dividend only after 10% per annum has been paid on the Ordinary shares, and a sum not exceeding 1,200 per annum has been placed either to Reserve or towards redemption of the Debentures, when they take half the surplus profits. DEBENTURES. 35,000 7% Debentures in bonds of 100 each, redeemable at the Company's option at 120 on six months notice. They constitute a first charge by \vay of floating security on the undertaking of the Company. RESERVE FUND. 4,800. Directors. General HOPKINSON, C.S.I. C. A. W. CAMERON, Esq. H. ST. J. OSCAR THOMPSON, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Managing Agents in London. Agents in Colombo. Messrs. FRITH, SANDS & Co. Messrs. LEECHMAN & Co. Secretary. SYDNEY H. SMITH, Esq. Offices. WINCHESTER HOUSE, OLD BROAD STREET, LONDON, E.C. I T 4 HISTORY. The Prospectus was dated 27th July, 1892, and stated that the Company was formed for the purpose of acquiring, and working the going concerns known as the Carolina Group of Estates, the Goat Fell, Udapolla, Bellongalla, Moragalla and St. Margaret's Estates. The purchase consideration was 80,000, 10,000 of which was satisfied by the allotment of the Deferred shares noted above. The properties were acquired as from the 3Oth June, 1892. When the Company was floated 15,000 was provided for working Capital and for extensions. In 1895 a portion of the Moragalla Estate was sold and two small new gardens, one adjoining Goat Fell, and the other near the Carolina Group, were purchased and paid for out of funds which were then available. SITUATION AND AREA. The Estates are situated in various Districts, by which the holdings of the Company are averaged. They range from an elevation of 400 ft. (Udapolla Estate) to 6,000 ft. (Goat Fell Estate). They comprise a total area of 4,640 acres, of which 2,379 are planted, 1,562 being in bearing. RESULTS AND DIVIDENDS : Year ending 30th June. Acres in bearing Tea Crop ^er* g e P r f b u s ced - Iperacre. Average per Ib. realised. Cocoa and Coffee, cwt. Total Profit from all sources. Divi- dend. 1893 1,650 705>944 428 9'5od. 28l % 9,966! IlJ 1894 1,635 778,957 1 476 9'iod. 416 10,395 II I8 9 5 1,713 838,677 489 8'52d. 452 9,955 II 1896 1,987 916,715 461 8-35d 469 10,181 II 1,200 out of Profits of each of the above years to Reserve Fund. 206 carried forward for 1896-1897 accounts. ACCOUNTS are made up annually to the 3Oth June and issued in the following October. DIRECTORS' QUALIFICATION. 500. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CENTRAL PROVINCE CEYLON TEA COMPANY, LIMITED. Registered January, \ 897. CAPITAL. 100,000 in 5,000 Ordinary and 5,000 shares of 10 each, all issued and ranking as fully paid. Preference Preference shares are cumulative, and have priority as to repayment of Capital as well as dividend. Directors. H. P. POWELL, Esq. S. R. PRYOR, Esq. F. M. MACKWOOD, Esq., of Colombo. Bankers. PARR'S BANK, LIMITED. Secretary. Offices. F. W. SELFE, Esq. 148, LEADENHALL STREET, LONDON, E.G. HISTORY. The Prospectus was dated 2nd February, 1897, and stated that the Company was formed for the purpose of acquiring, working and developing the Barnagalla, Dedugalla, Goonambil, Eriaga- stenne, Wayweltalawa, Berat, Castlemilk, and three-fourths of the Raxawa Estates. These properties were all going concerns, producing some cocoa as well as tea. The purchase price was .92,500, paid as to 33,000 in equal quantities of both classes of shares, and the balance of 59,500 in cash. SITUATION AND AREA. The Estates are situated in the Dolos- bage, Pangwella, Ambagamuwa, Dikoya and Pussellawa Districts. They comprise an area of 3,740 acres, 1,739 of which are planted with tea and 241 with cocoa. Of the tea land 1,629 acres are in bearing, and all the land planted with cocoa is now producing. Of the 1,620 acres of uncultivated land a large proportion is suitable for growing tea. DIRECTORS' QUALIFICATION. Any shares value 500. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. CENTRAL TEA COMPANY OF CEYLON, LIMITED. Registered 22nd June, 1895. CAPITAL. Authorised ^5,000 in 3,000 Ordinary and 1,500 6% Preference shares of 10 each. Issued. 35,070, being 2,007 Ordinary and 1,500 Preference shares, all of which are fully paid. NOTE. Another 400 Ordinary shares have been allotted, but do not participate in dividends until July, 1900. 12 n6 Preference shares are cumulative, and have priority as to Capital as well as dividend. This dividend is paid half-yearly, viz., on the 3ist December and 3Oth June. Directors. J. BANCROFT HOLMES, Esq. (Chairman) H. K. RUTHERFORD, Esq. W. H. ANDERSON, Esq. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. Agents in Ceylon. CEYLON TEA PLANTATIONS COMPANY, LIMITED. Secretary. Sir WILLIAM JOHNSTON, Bart. Offices. 21, MINCING LANE, E.C. HISTORY. This Company was formed to acquire, and work as going concerns the Kabragalla and Somerset Tea Estates, the Vendors accepting shares in payment for the same. Shortly after the Company was formed, the Loxa and Easdale Estates were purchased. SITUATION AND AREA. The Kabragalla Estate is situated in the Maturata District, and comprises 937 acres, of which 473 are planted. The Somerset, Loxa and Easdale Estates are in the Dimbula District, the former comprising 240 acres, nearly all planted ; the Loxa and Easdale Estates together comprise 193 acres, i66of which are cultivated. The Estates range in altitude from 3,000 ft. to 5,000 ft. RESULTS AND DIVIDENDS. The following are the working results of the first year of the Company's existence, except for the Loxa and Easdale division, which are for six months only : Year. Acres in bearing. Crop produced. Ibs. Average per Ib. realised. Total Profit from all sources. Dividend. Carried Forward. Pref. Ord. 1895 818 297,714 8'14d. 3>09I 6% '<>% 281 ACCOUNTS are made up annually to 3Oth June, and issued about the October following. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE CEYLON LAND & PRODUCE COMPANY, LIMITED. Registered ^rd July> 1884. CAPITAL. Authorised 100,000 in 10,000 Ordinary and 10,000 6% Preference shares of 5 each. Issued. 76,750. Paid up 47,950 in 1,450 Preference shares, fully paid ; 6,400 Preference shares, 3 paid ; 1,100 Ordinary shares, fully paid ; 6,400 Ordinary shares, 2 zos. paid. Preference shares are cumulative. DEBENTURES. The Directors have power, under the Articles of Association, to borrow money by the issue of Debentures, provided that the total amount so borrowed shall not exceed the amount of the subscribed but uncalled share Capital of the Company. The charge created by these Debentures constitutes a floating security. The Debentures are issued for terms of three, five, or seven years, in sums of 50 and upwards. Interest coupons are attached thereto, payable on the I5th May and nth November in each year. There are 28,738 issued bearing interest at 4%, 4^%, and 5% per annum. Note. A call of los. on the Ordinary shares, making them 3 paid, has been made ; payable 1st January, 1897. RESERVE FUND. 7,000. Directors. JAMES WILSON, Esq. {Chairman and Managing Director] WILLIAM KEILLER, Esq. Sir N. A. STAPLES, Bart. Bankers. THE BANK OF SCOTLAND, LONDON. THE MERCANTILE BANK OF INDIA, LIMITED (LONDON & COLOMBO). Shipping Agents in Colombo. Messrs. DARLEY, BUTLER & Co. Secretary. ALFRED E. LOCK, Esq. Offices. 353 & 354 LEADENHALL HOUSE, 101, LEADENIIALL STREET, E.C. 118 RESULTS AND DIVIDENDS. w < Q w <*-H C H 4_ O in t? P-I S> o o 1-1 II 'o o a S S '/?> 1 Q ^o ^HH *0 g J3 to b i I en .2 -3 rt 1 8- Q 4-) ^O S? VH or reduction or reduction o Reserve. ,E o C O oJ o O **"" M-l M-H 4-* 4-> U d 4-> 00 1 > to to 8 ^rt ^ to vo" oo" 'T! C^ to ^_^ of LT) hH ^ ^ r s? s^ *^S^ -d 'S VP to to to to to I M M r 1-1 -~ ^vo VO vo VO VO VO VO Q c S Cfl en ~ CO CO O I-H CO CO O 8 Sii cR ^ vo CO to 1 hH HH 3 2" ef 1 I CO CO I-H O CM o 00^ CO CO o i i 1-1 ^ N hH CM" CM" 1|| 8 |. M ON fNl 00 vo^ to 8 HH 1 oo a 2 lu r a' H ~'jB~ l vo" oo to CO cR oo" to CO to CO s to * -TJ -d T3 T3 T3 T_j d T3 rt *"^ ON 00 C^l to o\ VO Q 0) J-H ^ 00 00 to 00 ^p CM CO X < ^2 So . ^ 00 -t ON O\ ^ VO J-t fl i i to VO HH oo l &s ~ CO CO CO xl- * CO * CM xl- CO N ON O O-i O rt CO fc; i , hH -H CS) CO CO CO ^^ ^4- to Q co x^ x^ Xs H a g .a"8 ""O H<^ TD "TD Cv? 00 CO to 00 op P g Uji ON ON C>0 00 CO 8 &fc . co rd"* oo tx ^ VO o\ CS) tx X VH ^ rt (U QJ 4-J ^ i^ ^"* LH O ON co oo HN tx co rt ^ |J TJ- ro CO CO Tf CO * CO * 6 -i ON O vo CM tx tx tx co ON co ON to HH HH HH ~ o O ON j^ S * S3 *S * tx ^ CM tx co co co tx i - 1 CM co O ON to ^ P-I I-H i_o "- 1 O co CO co -j ^ i CM CO CM CM 1-1 O VO to ClJ ""I* HH ^H CM CM CM co co ^^ g l S3 S3 S3 S3 S3 S3 S3 S3 N. * 2 2 2 2 2, 2, CO fe u ^ * > -i HH CM CM CM CM CO U c O O O O O O O CM g| O O O O O "^" *^ ON o ^ CO "tf- to VO OO CO OO ON j oo ON O "- 1 CM co ^}- oo oo ON ON ON ON ON to ON ^ oo oo oo oo oo oo oo oo 133 An ad interim dividend of 2j% on the Ordinary shares has been paid on account of the 1896 workings. ACCOUNTS are made up annually to the 3ist December, and issued in the April following. DIRECTORS' QUALIFICATION. 100 Preference shares. VOTING POWER. One vote for every 3 Ordinary shares ; 3 for every Preference share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. EDERAPOLLA TEA COMPANY OF CEYLON, LIMITED. Registered 2gth November, 1895. CAPITAL. Authorised 50,000 in 5,000 shares of 10 each. Issued 22,000 in 2,200 shares, all ranking as fully paid. Directors. G. W. PAINE, Esq. (Chairman) JAMES BETT, Esq. J. M. MACMARTIN, Esq. R. PORTER, Esq. General Manager in Ceylon. ARTHUR WATT, Esq. Bankers. NATIONAL BANK. OF INDIA, LIMITED. Secretaries. Offices. Messrs. LYALL, ANDERSON & Co. 16, PHILPOT LANE, E.C. HISTORY. The Prospectus was dated 3rd December, 1895, and stated that the Company was formed to purchase and work, as from the 1st January, 1896, the going concerns known as Ederapolla and Ardross Estates. The price paid for the two Estates was 19,000, satisfied as to 12,660 in fully-paid shares and 6,340 in cash. SITUATION AND AREA. The Estates are situated in the Kelani Valley District, and comprise a total area of 823 acres, of which 600 are under tea, 471 being in bearing. DIVIDEND. An ad interim dividend of 5% has been paid on the 1896 workings. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 134 THE GALAHA CEYLON TEA ESTATES & AGENCY COMPANY, LIMITED. Formed June, 1 896. CAPITAL. 110,000 in 5,000 Ordinary and 6,000 6% Preference shares of 10 each, all of which are issued, and rank as fully paid ; the Ordinary shares were taken by the Vendor in part payment of the purchase money. Preference Shares are cumulative, and have the right to re- payment of Capital in preference to all other shares. DEBENTURES. 55,000 5% Debentures in bonds of 100 each, secured by a primary Mortgage over all the properties of the Company. They are repayable on 3ist December, 1916, with power to pay off after 3 ist December, 1906, and previously to 3ist December, 1916, at a premium of 5%. The interest is payable half-yearly, viz., on the ist January and ist July. OFFICIAL QUOTATION. Preference shares Nos. i to 6,000 are quoted on the London Stock Exchange. Directors. CHARLES E. STRACHAN, Esq. (Chairman] M. P. EVANS, Esq. WILLIAM HARWOOD, Esq. W. L. STRACHAN, Esq. Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. Manager in Colombo. G. HATHORN, Esq. Secretary. Offices. P. E. HERVEY, Esq. 39, LIME STREET, LONDON, E.C. HISTORY. The Prospectus was dated 2;th June, 1896, and stated that the Company was formed for the purpose of acquiring, carrying on, and developing : i. The following Tea Estates : Galaha, Goorookelle, Goddawella, Kirrewana, Kitoolmoola, Dunally, Maousakelle and New Madde- gama, and East, West and North Vedehettes, all going concerns, and the Galaha Factory. 2. The Freehold property in Colombo, known as the Union Mills. 3- The General and Agency business of Messrs. Strachan & Co., Colombo. 135 The price paid for these concerns was 155,000, payable as to 50,000 in the Ordinary shares of the Company, and the balance in cash. SITUATION AND AREA. The Estates are situated in the Nilambe and adjacent Districts, and comprise a total area of 4,874 acres, 1,635 being under tea over three years old and 762 young tea ; there are also 107 acres of cardamoms, the rest being Forest, Patna, &c., a large portion of which is considered available for tea cultivation. PAST RESULTS. It was stated in the Prospectus that in the season 1894-1895 a crop of 549,357 Ibs. of tea was produced, which sold for 7'o2d. per Ib. nett. DIVIDENDS. Ad interim dividends of 5% on the Ordinary and 3% on the Preference shares have been paid on account of the first year's workings. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. Shares of the nominal value of 1,000. VOTING POWER. One vote, one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE GANGWARILY ESTATES COMPANY OF CEYLON, LIMITED. Formed July, 1896. CAPITAL. Authorised 100,000 in 7,000 Ordinary and 3,000 6% Preference shares of 10 each. Issued. 30,000 in 2,000 Ordinary and 1,000 Preference shares, all ranking as fully paid. Preference shares are cumulative. DEBENTURES. 6% First Mortgage Debentures are authorised for a total amount not exceeding in the aggregate one-third of the cost price of the Properties for the time being comprised in the Mortgage. There are at the present time 3,000 issued, in bonds of 100 each. These Debentures are repayable at par by giving six months notice after the expiration of three years. 136 Directors. Hon. Sir JOHN J. GRINLINTON, C.E. (Chairman) WILLIAM HERBERT ANDERSON, Esq. THEODORE STRETCH, Esq. Bankers. THE ROYAL BANK OF SCOTLAND. Agents in Colombo. Messrs. BARLEY, BUTLER & Co. Secretaries. Offices. Messrs. DARLEY & BUTLER, BlLLITER SQUARE BUILDINGS, E.G. HISTORY. The Prospectus was dated I5th July, 1896, and stated that the Company was formed to acquire, as from the ist July, 1896, the going concerns known as Gangwarily and Glenalla Estates. The price paid was 20,750, of which 17,000 was accepted in fully paid shares, the balance being taken in cash. In February, 1897, the Havilland Estates were purchased for 9,000 cash, and part of the Preference shares were issued and fully subscribed. SITUATION AND AREA. The Gangwarily Estate is in the Western Dolosbage District, at an elevation of 1,500 to 2,800 ft. It comprises 429 acres, 260 of which are planted with tea now in full bearing, 90 acres in cocoa and 20 in Liberian coffee. The Glenalla Estate is situated near the end of the Ruanwella Valley of the Kelani District, at an elevation of 300 to -800 ft, and comprises 239 acres, of which 193 are planted with tea now in full bearing. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote for every share, but not more than 100 votes. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE GARTMORE CEYLON TEA COMPANY, LIMITED. Formed December ', 1 896. CAPITAL. Authorised .100,000 in 6,000 Ordinary and 4,000 5% Preference shares of 10 each. Issued 46,000 in 2,450 Ordinary and 2,150 Preference shares, all of which rank as fully paid. 137 Preference shares are cumulative, and have priority as to Capital as well as dividend. This will be paid half-yearly, viz. : on the 1st January and 1st July. Directors. HENRY GIBSON ANDERSON, Esq. (Chairman], THOMAS CLARK ANDERSON, Esq., FREDERICK JOHN YARROW, Esq. Bankers* LONDON AND COUNTY BANK, LIMITED. Secretary. Offices. PATRICK W. ANDERSON, Esq. 36, LIME STREET, LONDON, E.C. HISTORY. This Company was formed to acquire and work, as from the 1st January, 1897, the Gartmore Group, comprising Gartmore, Bevys and Larchfield Estates. The price paid by the Company for these properties was 43,000, which was taken by the Vendors 5,000 in cash and 38,000 in the shares of the Company 18,000 Preference and 20,000 Ordinary. SITUATION AND AREA. The Estates are situated in the Maskeliya District at an altitude of, say, 4,600 ft. They comprise an area of 633 acres, of which 490 are under tea and 143 in forest, a large proportion of which is suitable for cultivation. Of the land under tea 383 acres are already in bearing. It is intended to extend the cultivated area each year as occasion permits. ACCOUNTS will be made up half-yearly, viz. : on the 3Oth June and 3 ist December. DIRECTORS' QUALIFICATION. 500. VOTING POWER. One vote for every 10 shares. TRANSFER FORM. Special ; Fee, 2s. 6d. per deed. THE GOOMERA (CEYLON) TEA ESTATES, LIMITED. Formed May, 1894. CAPITAL. Authorised $0,000 in 3,000 shares of 10 each. Issued 13,500 in 1,350 shares, all fully paid, of which 300 are 6/ Q Preference shares. Preference shares are cumulative, and have priority as to repayment of Capital as well as dividend. 138 DEBENTURES. 4,000 6% Debentures in bonds of 50 each ; they are a first charge on the undertaking of the Company, and are repayable at par in 1905. Interest is paid half-yearly, viz., on the 1st January and ist July. Directors. T. C. OWEN, Esq. C. J. ROWE, Esq. F. A. MACRAE, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Agents in London. Agents in Colombo. Messrs. ROWE, WHITE & Co. Messrs. BAKER & HALL. Secretary. Offices. BERTRAM F. WHITE, Esq. 16, PHILPOT LANE, LONDON, E.C. HISTORY. The Prospectus was dated 23rd May, 1894, and stated that the Company was formed for the purpose of acquiring, working and developing, as from the 3Oth June of that year, the then going concern known as the Goomera Tea Estate. The price paid for the Property was 8,500, payable as to 1,250 in Debentures, 1,250 in fully paid shares, and the balance, 6,000, in cash. On ist January, 1897, the Hunugalla Estate was purchased. SITUATION AND AREA. The Goomera Estate is situated in the Knuckles District, at an elevation ranging from 2,300 ft. to 3,300 ft. It comprises an area of 844 acres, 376 of which are under tea in full bearing, and there are a few acres of cardamoms. During the year 1896, 50 additional acres were planted. The Hunugalla Estate is in the Kelani Valley District and comprises an area of 276 acres of which 200 are under tea. RESULTS AND DIVIDENDS : Year ending Acres in Crop. Average Ibs. Average per Ib. Total Profit from all Dividend. Balance carried 30th June. bearing. Ibs. per acre. realised. sources. forward. 1895 376 I37P43 364 7'34d- l,694 '7% 363 1896 376 150,336 400 6'62d. l,304 '7% 418 Interest on Debentures not reckoned in above table. ACCOUNTS are made up annually to the 3Oth June, and issued in the following September. DIRECTORS' QUALIFICATION. 50. VOTING POWER. One vote for I Ordinary share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 139 HIGHLAND TEA COMPANY OF CEYLON, LIMITED. Formed March, 1896. CAPITAL. Authorised 70,000 in 7,000 shares of 10 each. Issued 32,000 in 3,200 shares, all of which rank as fully paid. Directors. Sir GEORGE AUGUSTUS PILKINGTON (Chairman). ROBERT COLVILL BOWIE, Esq. GEORGE GRAY ANDERSON, Esq. Bankers. THE COMMERCIAL BANK OF SCOTLAND, LIMITED. Agents in Colombo. Messrs. LEWIS BROWN & Co. Secretaries. Offices. Messrs. LYALL, ANDERSON & Co. 16, PHILPOT LANE, E.C. HISTORY. The Prospectus was dated nth April, 1896, and stated that the Company was formed to purchase and work, as from the 1st January of that year, the going concerns known as Chrystlers Farm, Glenorchy, and Mount Olive Estates. The purchase consideration was 29,689, satisfied as to 3,300 in fully paid shares, and the balance 26,389 in cash. SITUATION AND AREA. The Chrystlers Farm Estate is situated in the Kotagalla District of Dimbula, and comprises 475 acres, 400 of which are under tea. The Glenorchy and Mount Olive Estates are in the Ambawela District, and comprise 227 acres, 186 of which are under tea. It is stated that there is water power on both properties sufficient to drive all the machinery during the whole year. DIVIDEND. An ad interim dividend of 4% has been paid on the 1896 workings. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 20 shares. VOTING POWER. i vote for each share up to 10 ; i vote for every 10 shares from 10 to 100 shares ; and I vote for every 20 shares after the first hundred, but no member is entitled to more than IOO votes. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 140 THE HORN8EY TEA ESTATES COMPANY, LIMITED. Formed July, 1896. CAPITAL. Authorised 50,000 in 6,000 Ordinary and 4,000 6/ Q Preference shares of 5 each. Issued 20,000 in 2,400 Ordinary and 1,600 Preference shares. Preference shares are cumulative, and likewise have the right to repayment of Capital in preference to all other shares. DEBENTURES. Authorised 20,000. Issued 10,000 5% De- bentures in bonds of 50 each. They are a first charge on the Estates, and are secured by a Trust Deed. All or any quantity may be redeemed on or after 1st January, 1907, at par, or prior to that date at a premium of 5%! on giving six months notice in either case. The Company reserves the right to issue the other 10,000, which would rank pari-passu with those issued, but only for acquiring new property. Trustees for Debenture Holders. ADOLF ZIMMERN, Esq., EDWARD HENRY HANCOCK, Esq. Directors. CHARLES ARTHUR REISS, Esq. (Chairman) HAMILTON A. HANCOCK, Esq. WALTER SYDNEY SICHEL, Esq. WILLIAM S. T. SAUNDERS, Esq. (Managing Director in Ceylon] Agents in London. Messrs. L. REISS BROS. & Co. Secretary. Offices. A. B. TOMKINS, Esq. 51, LIME STREET, LONDON, E.C. HISTORY. The Prospectus was dated 3ist July, 1896, and stated that the Company was formed to acquire, work and develop, as from the ist July of that year, the then going concerns known as the Hornsey and Abercairney Tea Estates, with power to purchase other properties as favourable opportunities might occur. The price paid by the Company for the Estates acquired was 30,000, payable as to i2 ; ooo in Ordinary shares, and 18,000 in cash. SITUATION AND AREA. The Estates are situated in the Dikoya District, 5 miles from the Hatton Railway Station, and they comprise a total area of 473 acres, 460 of which are under tea, 419 being in bearing. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 300. VOTING POWER. I vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. HUNASGERIA TEA COMPANY, LIMITED. Formed 1884. CAPITAL. Authorised 30,000 in 30,000 shares of 1 each. Issued 22^2% in fully paid shares. LOANS OUTSTANDING. 1,100. Directors. ALFRED BROWN, Esq. (Managing Director) NORMAN STEWART, Esq. P. C. OSWALD, Esq. Bankers. LONDON JOINT STOCK BANK. Agents in Colombo. COLOMBO COMMERCIAL COMPANY, LIMITED. Secretary. Offices. J. ALEC ROBERTS, Esq. 5, DOWGATE HILL, CANNON STREET, E.C. HISTORY. This Company was formed for the purpose of purchasing the Hunasgeria Coffee Estate and developing it in tea. SITUATION AND AREA. The Estate is situated in the Hunasgeria District, at an elevation varying from 1,700 ft. to 4,400 ft., and comprises an area of 2,255 acres, of which 789 are planted with tea, all in bearing, and 30 acres with cocoa. RESULTS AND DIVIDENDS. The following table shows the working results of the Company during the last three years : Year. Acres in bearing. Total Tea Crop Manufactured. Ibs. Average Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. I8 93 256,951 6- 9 5d. 7'5od. 627 % 2 1894 763 273,624 347 6-i8d. 7'36d. l,444 4 1895 789 316,808 399 5' 3 6d. 6. 57 d. 1,663 4 A small quantity of green leaf was bought each year. The cost of producing a little cocoa and cardamoms is allowed for in above " Cost " column. In the 1893 Balance Sheet, Suspense Account appeared as 1,495 ; this has been paid off during the above 3 years out of Profits. 61 was carried forward to 1896 account. ACCOUNTS are made up annually to the 3ist December, and submitted with the Directors' Report about the end of the following April. DIRECTORS' QUALIFICATION. 200 shares. VOTING POWER. I vote for 5 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed, I 4 2 THE IMPERIAL CEYLON TEA ESTATES, LIMITED. Formed Jth December, 1895. CAPITAL. Authorised ^"100,000 in 10,000 shares of .10 each. Issued 90,000 in 9,000 shares, all fully paid. Directors. JOHN BELL-IRVING, Esq. R. S. CORBETT, Esq. ALEX. THOMSON, Esq. Bankers. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Agents in Colombo. Agents in London. Messrs. WHITTALL & Co. Messrs. J. WHITTALL & Co. Secretary. Offices. W. H. BARTLETT, Esq. 9, FENCHURCH AVENUE, LONDON, E.C. HISTORY. The Prospectus was dated 28th November, 1895, and stated that the Company was formed to acquire, work, and develop, the Binoya and Mottingham Estates, and shares to the value of 27,500 were at that time issued for the purpose. In February, 1896, more Capital was issued in order to purchase the Nonpariel, Inverness, Edinburgh, St. Vigeans and Friedland Estates for 60,836. SITUATION AND AREA. Estate. District. Total Acreage. Cultivated. area. Binoya Lower Dikoya 929 441 Mottingham ... Maskeliya 2 5 8 220 Nonpariel West Haputale 549 4O2 Inverness j Edinburgh J '" West Haputale 432 392 St. Vigeans ... Dikoya 185 I8 5 Friedland Dikoya 165 I6 3 . 2,518 1,803 ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. Holding of shares of the Company of the nominal value of 500. VOTING POWER. One vote for every share. TRANSFER FoRM.Ordinary ; Fee, 2s. 6d. per deed. THE KANDAPOLLA TEA COMPANY, LIMITED. Formed January, 1897. CAPITAL. Authorised 200,000 in 10,000 Ordinary and 10,000 6/ Q Preference shares of 10 each. Issued 52,000 in 2,600 shares of each denomination. Preference shares are cumulative, and have priority over the Ordi- nary shares as to Capital as well as dividend. This dividend is paid half-yearly, on the ist January and ist July. DEBENTURES. 26,000 5% Debentures in bonds of 100 each, secured by Mortgage deeds on the Company's property. They will be redeemable at 103 at any time after the ist January, 1900, by annual drawings, or by purchase at any lower quotations. Directors. R. A. BOSANQUET, Esq. GILBERT F. TRAILL, Esq. JAMES HENRY ALEXANDER, Esq. Bankers. Messrs. WILLIAMS, DEACON & MANCHESTER & SALFORD BANK, LTD. Agents in Colombo. Messrs. BOSANQUET & Co. Agents and Secretaries. Offices. Messrs. R. A. BOSANQUET & Co. 38, MINCING LANE, E.C. HISTORY. The Prospectus was dated I4th January, 1897, and stated that the Company was formed in the first instance to acquire, work, and further develop, as from the ist January of that year, the Kandapolla, Monkswood, Frotoft, Rushbrook and Erroll Estates. The price paid was 76,702. It is intended to make further purchases of Estates as favourable opportunities present themselves. SITUATION AND AREA. The Estates are situated as follows, at altitudes ranging from 4,500 ft. to 6,500 ft. : Estate. District. Total Acreage. Acres in Acres in Tea. { Forest s, &c. Kandapolla Nuwara Eliya 189 179 10 Monkswood Nuwara Eliya 197 192 5 Frotoft Ramboda 346 306 40 Rushbrook Ramboda 306 155 151 Erroll Dikoya 239 217 22 ^2/7 1,049 228 144 ACCOUNTS will be made up annually to the 3ist December. DIRECTORS' QUALIFICATION. Shares or stock of the Company of ,500 nominal value. VOTING POWER. Every share, whether Preference or Ordinary, shall confer one vote, but no Ordinary share shall confer a vote whenever and so long as any half-yearly dividend on the Preference shares shall be in arrear for three months. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE KELANI VALLEY TEA ASSOCIATION, LIMITED. Formed July, 1886. CAPITAL. A uthorised 50,000 in 5,000 shares of 10 each. Issued 30,000 in 3,000 shares, 253 of which are fully paid, and were issued on account of purchase-money ; the balance, 2,747 shares, have 5 paid, the 5 per share uncalled being specifically charged to secure the Debentures. DEBENTURES. 12,900 5% Debentures in bonds of 50 each or multiples of 50, secured against the uncalled Capital of the Company, which is at no time to be of a less amount than the Debentures out- standing. They are further secured by a floating charge upon the property of the Company. They have been issued at different times and are denominated "A," " B," " C," and " D " series, and are repayable at par in three years from their date of issue. The interest is payable half-yearly, viz., on the 1st January and 1st July. RESERVE FUND. 3,000. Directors. GEORGE W. PAINE, Esq. (Chairman), DONALD ANDREW, Esq., LEOPOLD F. DAVIES, Esq. (Gow, Wilson & Stanton), Hon. DUDLEY A. C. SCOTT. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Secretaries. Offices. Messrs. LYALL, ANDERSON & CO. l6, PHILPOT LANE, E.C, HISTORY. This Company was formed in 1886 with a Capital of 20,000, only part of which was issued, in order to purchase the Degalessa Estate and some adjoining lands, then nearly all virgin forest, and to convert the same into a tea plantation. At the time of purchase there were ten acres of old tea. The Vendors of the Degalessa Estate received 3,655 in payment. Tea planting was immediately proceeded with, and by the end of 1888, 500 acres were under cultivation. Debentures were authorised to provide for upkeep and extensions. In 1890 the Dover Estate and some land adjoining Degalessa were pur- chased. The following year the unallotted shares were subscribed at a premium of i per share. At the end of 1892 the Wereagalla Estate, comprising 294 acres, 230 of which were planted, was acquired for 8,250, and the following year the Parusella Estate was purchased for 5,250; this comprised 275 acres, 210 of which were planted. The Capital of the Company was then increased to its present amount, 1,000 shares being issued at a premium. Further Debentures have also been issued at various times. The Reserve Fund was founded on the Profits of 1891. SITUATION AND AREA. All the estates are situated in the Kelani Valley District, and comprise an area of 1,537 acres, of which 1,047 are in full bearing. RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre/ Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. i8 9 of 345 130,546 376 7'6 9 d. iO'58d. l,940 5 1891 570 257,949 462 7'i2d. 8-o5d. 2,028 10 1892 570 254,947 456 6'02d. 9'64d. 4,368 20 1893 946 361,876 392 6'4od. 8-0 id. 2,836 15 1894 i,047 407,846 397 5'53d. 8-i9d. 5,025 15 1895 1,047 584,140 570 5'32d. 7'6 5 d. 6,210 j 15* f For eighteen months ending 315* December, 1890. * And bonus of 118 carried forward to 1896 account An ad interim dividend of 5% has been paid on the 1896 workings. Note. Out of the Profits of 1895 2,000 was placed to "Special Account," against 4,000 provided from the resources of the Company to pay off the Mortgage for that amount over Wereagalla Estate. ACCOUNTS are made up annually to the 3ist December, and issued about the March following. 146 DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote for each share up to 10 shares ; one vote for each 10 shares from 10 to 100 shares ; and one vote for each 20 shares beyond 100 shares ; but no member to have more than 100 votes in all. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE KINTYRE TEA ESTATES COMPANY, LIMITED. Formed July ', 1896. CAPITAL. 65,000, divided into 4,500 Ordinary and 2,000 5% Preference shares of 10 each, all of which are issued and rank as fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. Directors. G. A. TALBOT, Esq. A. A. BAUMANN, Esq. WILLIAM NEVETT, Esq. Bankers. THE NATIONAL BANK OF INDIA, LIMITED. Agents in Colombo. Messrs. GEORGE STEUART & Co. Secretaries. Offices. Messrs. NEVETT, OSWALD & Co. 130, FENCHURCH STREET, E.C. HISTORY. The Prospectus was issued in July, 1896, and stated that the Company was formed to acquire and work, the going concerns, Kintyre, Eltofts, and Ayr Estates. As the properties are situated in various districts and at varying altitudes the holdings of the Company are averaged. The purchase price of all the Estates was 62,000, payable as to 2,000 in Preference and 22,000 in Ordinary shares, and the balance 38,000 in cash. SITUATION AND AREA. The Kintyre Estate is in the Maskelyia District, at an altitude of about 4,000 ft., and comprises 288 acres, all of which, excepting 10, are under tea in bearing. The Eltofts Estate is in the Bogawantalawa District, at an altitude of about 4,790 ft. ; it comprises 290 acres, 260 of which are under tea in bearing. 147 The Ayr Estate is situated in the Kelani Valley District, and comprises 364 acres, 331 of which are under tea of various ages. DIVIDEND. An ad interim dividend of 2s. Qd. per share has been paid on account of the 1896 workings. ACCOUNTS. None yet issued. KORALE TEA ESTATES COMPANY, LIMITED. Formed May, 1895. CAPITAL. Authorised 1 50,000 in 30,000 shares of 5 each, 18,000 being 6% Preference and 12,000 Ordinary shares. Issued ^"63,000 in 10,000 Preference and 2,600 Ordinary shares. All the latter were taken by the Vendors. Preference shares are cumulative and have priority as to Capital as well as dividend. Directors. WILLIAM STEPHENSON BENNETT, Esq. HERBERT WILFORD BRETT, Esq. JOHN LOUDOUN SHAND, Esq. Bankers. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Agents in Colombo. Messrs. CUMBERBATCH & Co. Secretary. Offices. R. C. HALDANE, Esq. 24, ROOD LANE, LONDON, E.C. HISTORY. The Prospectus was dated 28th May, 1895, and stated that the Company was formed to acquire, work, and develop the following Ceylon Tea Estates, viz., Riverside, Glenloch, Karagastalawa, Wewesse and Debedde. All these Estates were going concerns equipped with factories, machinery, &c. Other estates may be dealt in should opportunity occur. The purchase price of these estates was ^56,000, payable partly in cash and partly in shares. At the time of flotation 7,400 Preference shares only were offered for subscription. SITUATION AND AREA. The Estates are situated in the Pussellawa, Ramboda, and Badulla Districts, at altitudes varying from 1,800 ft. to 3,500 ft. They aggregate a total area of 1,898 acres, of which about 942 are under cultivation, some 768 acres being over four years old. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 20 shares. VOTING POWER. One vote for each share. TRANSFER FORM, Ordinary ; Fee, 2s. 6d. per deed. M 148 THE LANKA PLANTATIONS COMPANY, LIMITED. Formed March, 1880. CAPITAL. Authorised 200,000 in 15,000 Ordinary and 5,000 6% Preference shares of 10 each. Issued 164,700, being all the Ordinary shares and 1,470 Preference, all fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. The latter is paid half-yearly. OFFICIAL QUOTATION. Ordinary shares Nos. i to 15,000 are quoted in the Stock Exchange List. Directors. GEORGE ALLEN, Esq. (Chairman) WILLIAM AUSTIN, Esq. HENRY Bois, Esq. EDWARD PETTIT, Esq. Bankers. LONDON AND WESTMINSTER BANK, LIMITED. Agents in Colombo. Messrs. J. M. ROBERTSON & Co. Secretary. Offices. CHARLES M. ROBERTSON, Esq. 12, FENCHURCH ST., LONDON, E.C. HISTORY. This Company was originally interested in coffee planting, but has for some time past been replacing this product with tea, and planting cocoa. SITUATION AND AREA. The Estates now under tea are situated at high elevations in the Haputale, Dikoya, Uda Pussellawa, and Maturata Districts, and the cocoa is in the Matale West District. There is a total area of 4,304 acres, of which 2,166 are under tea, 210 under coffee, and 671 acres under cocoa. Of the land under tea about 2,000 acres are in bearing ; under cocoa 400 acres in bearing. RESULTS AND DIVIDENDS : Year ending 30th Acres in bear- Crop Tea. Average per Ib. Crop Coffee. Crop Cocoa. Total Profit from all Dividends. Written off Suspense Account, Balance forward. June. ing. Ibs. realised. cwt. cwt. sources. Pref. Ord. etc. 1892 377)327 9'25d. 914 707 ^4,236 6 '* ,1,806 .76 1893 4'5,833 9-i3d. 837 1)457 ,8, 4 OI 6 3 ,2,169 ,968 1894 518,136 8-25d. 789 979 ,5,176 6 2 ,1,830 ^459 1895 528,048 8 97 d. 1,371 1,214 , JI )379 6 4 ,3,7H ^1,270 1896 2000 646,161 9'i2d. 60 5 i)355 ;io,7o8 6 5 ,1,566 ;2,060 149 ACCOUNTS are made up annually to the 3 1891. CAPITAL. 22,000 in 2,200 shares of 10 each, all of which are fully paid. Directors. WILLIAM KESWICK, Esq. (Chairman} EDWARD J. YOUNG, Esq. (Managing Director} Bankers. NATIONAL BANK OF INDIA, LIMITED. Agents in Colombo. Messrs. WHITTALL & Co. Secretary. W. H. BARTLETT, Esq. Agents in London. Messrs. J. WHITTALL & Co. Offices. 9, FENCHURCH AVENUE, E.C. HISTORY. This Company was formed to acquire, as from the 1st January, 1892, the going concern known as the Rangalla Estate, and to further extend the same. SITUATION AND AREA. The Estate is situated in the Rangalla District, at a high altitude. It comprises a total area of 1,241 acres, of which 704 are under tea cultivation, and 66 planted with cardamoms ; of the tea 592 acres are in bearing. RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop produced. Ibs. Average Ibs. per acre. Total Profit from all sources. Dividend. 1892 ' l,969 % 8 1893 l,948 8 I8 94 558 160,963 289 l,483 7 1895 592 201,631 340 l,644 8 An ad interim dividend of 3% has been paid on the 1896 workings. ACCOUNTS are made up annually to the 3ist December, and issued about the following March. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. SCOTTISH CEYLON TEA COMPANY, LIMITED. Registered July, 1 889. CAPITAL. Authorised 50,000 in 4,100 Ordinary and 900 7% Preference shares of 10 each, all issued and fully paid. Preference shares are cumulative, and have priority as to Capital as well as dividend. The dividend on these shares is payable half-yearly, viz., in March and September. RESERVE FUND. 6,000. Directors. H. L. FORBES (Chairman and Managing Director}. R. W. FORBES. DONALD ANDREW. Bankers. MERCANTILE BANK OF INDIA, LIMITED. NATIONAL BANK OF INDIA, LIMITED. Manager in Ceylon. DAVID KERR, Abergeldie Estate. Secretaries. Offices. LYALL, ANDERSON & Co. 16, PHILPOT LANE, LONDON, E.C. HISTORY. The Prospectus was dated 3Oth July, 1889, and stated that the Company was formed to acquire, as from the 1st January of that year, the Invery, Waterloo, Strathdon, Benachie, Abergeldie and Mincing Lane Estates. The price paid for the properties was 41,000, which was taken by the Vendors in 4,100 fully paid shares of the Company. In 1891 the Lonach Estate was purchased. SITUATION AND AREA. The following are particulars of the Company's Estates : Name. District. Acres under Tea. Total Area. Invery and Waterloo Dikoya 477 513 Strathdon Dikoya 300 304 Benachie Lower Dikoya 296 338 Abergeldie Lower Dikoya 170 193 Mincing Lane Maskeliya 183 194 Lonach Lower Dikoya 301 421 * 1,727 1,963 1 62 RESULTS AND DIVIDENDS. The following table shows the workings of the Company during the last six years : Year. Acres in bearing. Crop Sale Weight. Ibs. Av. Ibs. per acre. Average cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. To Reserve. Pref. Ord. 1890 1,389 3;5,3l8 275 io-33d. i4'27d. 7,368 % % 15 1,000 I8 9 I 1,498 560,637 383 8-i9d. I0'63d. 8,800 18 1,000 I8 9 2 1,544 520,969 337 7'5id. I0'26d 7,0l6 15 1,000 1893 i,544 592,948 39i 6'4od. 9-i9d. 8,790 7 18 1,000 1894 i,544 619,148 407 6'47d. 8- 9 7d 9,338 7 15 1,000 1895 i,544 658,794 433 6-iQd. 8- 39 d. 8,801 7 15 1,000 Besides the amount placed to Reserve account during 1894 and 1895, a sum of 2,338 was written off for Depreciation. 852 carried forward to 1896 account. Ad interim dividends of 5% on the Ordinary and $\/ Q on the Preference shares, have been paid on the workings of the year 1896. ACCOUNTS are made up annually to the 3ist December, and issued in the May following. DIRECTORS' QUALIFICATION. ^"50 shares. VOTING POWER. One vote for each 10 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE SCOTTISH TRUST AND LOAN COMPANY OF CEYLON, LIMITED. Formed April, 1878. CAPITAL. Authorised 250,000 in 25,000 shares of 10 each. Issued 150,000 in 15,000 shares, on which 3 per share has been paid, making ^"45,000 paid up in all, DEBENTURES. 4,600 4^% Debentures outstanding. RESERVE FUND. 10,000. Directors. JOHN WILSON, Esq. Sheriff HENRY JOHNSTON. J. H. BEILBY, Esq. JAMES HALDANE, Esq. Bankers. THE ROYAL BANK OF SCOTLAND, LONDON & EDINBURGH. Agents in Colombo. Messrs. CUMBERBATCH & Co. London Office. INGRAM HOUSE, 165, FENCHURCH STREET, E.G. Secretary. Registered Office. FRANCIS A. BRINGLOE, C.A. 123, GEORGE STREET, EDINBURGH. HISTORY. The Company was formed in 1878 for the purpose of lending money on Mortgage on Estates in Ceylon. The Estates which the Company now hold were taken over in default of the bonds. They were formerly under coffee cultivation, but this has been superseded by tea, excepting on the Alnwick and Sarnia Estates, which still produce a moderate crop of coffee. SITUATION AND AREA. All the Properties are situated at high altitudes ; the following are the particulars of acreage, &c. : Estate. District. Total area of Estates. Under Tea cultivation. In bearing. Alnwick Uda Pussellawa Acres. 941 Acres. 346 Acies. 282 Annfield Dikoya 289 248 248 Brookside Uda Pussellawa 282 241 145 Kaipoogalla Pundaluoya 42O 277 247 Rahan watte Dimbula 308 2 5 8 2 5 8 Sarnia Badulla 796 367 152 3P36 i,737 1,332 EXTENSIONS. A moderate quantity of new land has been put under cultivation each year. M2 164 RESULTS AND DIVIDENDS : Year ending 313! August. Tea Crop Sale Weight. Ibs. Average per Ib. realised. Total Profit from all sources. Dividend and Bonus. 1894 415,472 9'i6d. 1,680 5% 1895 539,577 9'22d. 6,581 lO/o 1896 494,287 9'5od. 5,370 \2\/o According to the last balance sheet, ^"3,086 was carried forward. " Loans made in Ceylon" stood at 16,100. By nth November, 1896, the Debenture debt had been reduced to 4,600. ACCOUNTS are made up annually to the 3ist August, and sub- mitted in the following October. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for every 5 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE SOUTH WANARAJAH TEA ESTATES, LIMITED. Formed February ', 1 897. CAPITAL. A uthorised 100,000 divided into 5,000 Ordinary shares and 5,000 6% Preference shares of 10 each. Issued 24,000 in 1,800 Ordinary and 600 Preference shares. Preference shares are cumulative, and have priority as to Capital as well as dividend. DEBENTURES. 12,000 5% Debentures in bonds of 100, each to be secured by a First Mortgage deed on the South Wanarajah and Dartry Estates. The Company may redeem the Debentures, or any number of them, on or after 1st January, 1907, at par, or prior to that date at 105, on giving six months notice in either case. Directors. MATTHEW P. EVANS, Esq. (Chairman) HAMILTON A. HANCOCK, Esq. THOMAS J. LAWRANCE, Esq. OSWALD C. MAGNIAC, Esq. ids Bankers. THE NATIONAL BANK OF SCOTLAND, LIMITED. THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA. Managing Director in Ceylon. W. REEVE TATHAM, Esq. Secretary. Offices. P. E. HERVEY, Esq. 39, LIME STREET, LONDON, E.C. HISTORY. The Prospectus was dated 6th February, 1897, and stated that the Company was formed to acquire, as going concerns, the two Tea Estates known as South Wanarajah and Dartry, and also to purchase other Estates should favourable opportunity occur. The purchase price of the two Estates acquired (subject to a Mortgage of about ,3,439), was 33,000, payable as to 23,000 in cash and 10,000 in fully paid shares of the Company. The Dartry Estate was taken as from the 1st January, and the South Wanarajah as from the ist July, 1897. SITUATION AND AREA. The South Wanarajah Estate is situated in the Dikoya District, four miles from the Hatton Railway Station. The Dartry Estate is in the district of Gampola, ij miles from the Gampola Railway Station. The total area of the two Estates is 713 acres, 580 of which are under tea and 41 under cocoa and coffee. Of the tea about 500 acres are in bearing. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. 500 of any class of shares. VOTING POWER. One vote for every share up to ten ; one additional vote for every five shares beyond the first ten shares up to one hundred, and an additional vote for every ten shares beyond the first hundred. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. SPRING VALLEY COFFEE COMPANY, LIMITED. Formed 1865. CAPITAL. 80,000 in 8,000 shares of 10 each, all issued and fully paid. RESERVE FUND. 4,012. 1 66 Directors. ALFRED BROWN, Esq. (Managing Director} LEON FAMIN, Esq. P. C. OSWALD, Esq. NORMAN STEWART, Esq. Bankers. BANK OF SCOTLAND. Agents in Colombo. COLOMBO COMMERCIAL COMPANY, LIMITED. Secretary. Offices. J. ALEC ROBERTS, Esq. 5, DOWGATE HILL, CANNON ST., E.C. HISTORY. This Company was formed as far back as 1865, being then entirely interested in the production of coffee. For some years past, however, the cultivation of tea has been receiving attention. SITUATION AND AREA. The Estates are situated in the Badulla or Ouvah District, at altitudes ranging from 2,200 ft. to 5,000 ft., and comprise 2,253 acres, of which 1,361 are under tea, and 538 under coffee. Of the tea, only 794 acres are at present in bearing. RESULTS AND DIVIDENDS : The following table shows the working results of the Company during the last three years : Year ending 3 ISt March. Acres in bear- ing. Tea Crop produced from Go's. Estates. Ibs. Av. Ibs. per acre. Leaf bought. Ibs. Average per Ib. realised. Coffee produced, cwts. Total Profit from all sources. Divi- dend. 1894 1895 1896 521 621 74 1 189,300 196,650 219,180 363 316 296 33,381 52,700 9'5od. 9 -i 5 d. 9*34 d - 960 1,658 6,662 4 5 2,595 carried forward to 1896-1897 accounts. ACCOUNTS are made up annually to the 3ist March, and issued with the Directors report about the June or July following. DIRECTORS' QUALIFICATION. 50 shares. VOTING POWER. One vote for 5 shares. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. i6 7 THE STANDARD TEA COMPANY OF CEYLON, LIMITED. Formed 1891. CAPITAL. Authorised 100,000 in 10,000 shares of 10 each. Issued. 82,000 in 8,200 shares, 1,700 being fully paid, and 6,500 having 6 paid, making 56,000 paid up in all. RESERVE FUND. 7,500. LOAN to the Company upon Mortgage, 7,000. Directors. ALEX. BROOKE, Esq. (Chairman) ROBERT KAY-SHUTTLEWORTII, Esq. NORMAN W. GRIEVE, Esq. WILLIAM ROLLO, Esq. Bankers. NATIONAL BANK OF INDIA. Agents in Colombo. Messrs. GEORGE STEUART & Co. Secretary. Offices, A. TRAFFORD BROOKE, Esq. 25, FENCHURCH STREET, E.C. HISTORY. This Company was formed in 1891 with an authorised Capital of 50,000, 2,500 shares being at that time issued, in order to purchase, as from the 1st March of that year, the St. Leonards Estate, then a going concern, partly under tea and partly under coffee. Of this issue 700 shares, fully paid, went to the Vendor, the balance of the shares having only 6 paid thereon. The Eskdale and Liddesdale Estates were purchased as from the 1st January, 1892, and a further 1,250 shares were issued, 1,000 of which accredited as fully paid going to the Vendors. The Gouravilla Estate was also purchased, and shortly afterwards the Gordon Estate. Another 1,2 50 shares were then issued. On the 4th May, 1893, the Capital of the Company was increased to 100,000. The Upper Cruden Estate, adjoining Gouravilla, and the Tulloes Estate, were purchased in 1894. Since then 3,200 shares have been issued, 1 68 SITUATION AND AREA. All the Estates are situated at high altitudes. The following are the particulars of area, &c. : Estate. District. Tea in bearing. Young Tea. Total area of Estates. St. Leonards Uda Pussellawa Acres. 238 Acres. I/O Acres. 726 Liddesdale Uda Pussellawa 140 210 814 Eskdale Uda Pussellawa 210 18 238 Gordon .Uda Pussellawa 74 236 365 Tulloes Uda Pussellawa 175 H5 450 Gouravilla i & Upper Cruden ) Maskeliya 633 706 1,470 749 3,299 On St. Leonards, Gordon and Tulloes Estates, a certain amount of coffee is interspersed through the tea. RESULTS AND DIVIDENDS : Year. Total Profit from all sources. Dividend. Remarks. 1891 l,670 *I* 1892 3,725 10 1893 6,876 10 2,000 to Reserve 1894 9,647 12} 3,000 to Reserve 1895 l3 132 1C (2,500 to Reserve (1,500 to Depreciation * At the rate of. An ad interim dividend of 5% has been paid on account of season 1896. ACCOUNTS are made up annually to the 3ist December, and issued in the following April. DIRECTORS' QUALIFICATION. 25 shares. VOTING POWER. One vote for each share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. 1 69 SUNNYGAMA (GEYLON) TEA ESTATES COMPANY, LIMITED. Incorporated 2th January, 1893. CAPITAL. Authorised. 70,000 in 5,000 Ordinary and 2,000 6% Preference shares of 10 each. Issued. 55,000 in 5,000 Ordinary and 500 Preference shares, all of which are fully paid. Preference shares are cumulative and rank before the Ordinary shares as to Capital as well as dividend. The dividend on these is payable half-yearly. DEBENTURES. 10,000 6% First Mortgage Debentures in bonds of 100 each, repayable at par on ist January, 1899 ; or at the option of the Directors these may be redeemed after 31 st December, 1896, by giving six months notice. Interest payable 3Oth June and 3ist December. Directors. JAMES CRICHTON KINMOND, Esq. (Chairman} WILLIAM FORSYTHE, Esq. ROBERT LYELL, Esq. R. B. MAGOR, Esq. Bankers, NATIONAL BANK OF INDIA, LIMITED. Agents in Colombo. Messrs. SKRINE & Co. Secretaries. Offices. Messrs. GEORGE WILLIAMSON & Co. 138, LEADENHALL ST., E.C. HISTORY. This Company was formed in January, 1893, with a fully subscribed Capital of 50,000, to acquire and amalgamate the two going concerns known as Sunnycroft and Pambagama Estates, 6,000 Debentures were also issued at that time. In 1895 the Capital was increased to 70,000 by the creation of the 2,000 Preference shares, of which 500 were issued together with 4,000 Debentures. This issue was made to provide for permanent improvements and further extensions. SITUATION AND AREA. The Estates are situated in the Kelani District of Ceylon, and are within some 40 or 50 miles of Colombo. They comprise a total area of 2,739 acres, of which are planted 866 on Sunnycroft and 467 on Pambagama, making a total of 1,333 acres, 972 of which are in full bearing. Extensions on a fairly large scale have been made during the last few years on the Sunnycroft division. I/O RESULTS AND DIVIDENDS : Year. Acres in bearing. Crop Sale Weight. Ibs. Average Ibs. per acre. Average Cost per Ib. Average per Ib. realised. Total Profit from all sources. Dividend. Pref. Ord. 1893 606,504 4-8 id. 6'59d. 4,249 % % 8 1894 550,677 4'82d. 6-4 id. 3,119 _ 6 1895 972 675,201 707 4'53d- 6'72d. 5,578 *6 10 * At the rate of. Debenture interest not calculated in above table. 428 carried forward to 1896 account. Ad interim dividends of f/ Q on the Ordinary shares and 3% on the Preference, have been paid on the workings of the year 1 896. ACCOUNTS are made up annually to 3ist December, and submitted with the Directors' report about the April following, when the final dividend is declared. An interim dividend has been usually paid in September. DIRECTORS' QUALIFICATION. Every member is eligible. VOTING POWER. One vote, one share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE TYSPANE TEA COMPANY, LIMITED. Formed May, 1896. CAPITAL. 1 8,000 in 1,800 shares of 10 each, all of which are issued and rank as fully paid. DEBENTURES. Authorised 3,000 6% Debentures, of which 2,000 are issued. Directors. EDWARD DUMARESQ THOMAS, Esq. JOHN PHILIP HERRINGHAM, Esq. WALTER SANDYS THOMAS, Esq. JOHN BENNETT, Esq. HENRY EDGAR THOMAS, Esq. Bankers. PARR'S BANK, LIMITED. Agents in Colombo. Messrs. Bois BROTHERS & Co. . \gcnts and Secretaries. Offices. Messrs. ROBERTSON, Bois & Co. 12, FENCHURCH STREET, E.C. HISTORY. This Company was formed to acquire the two adjoining Estates, Tyspane and Doombegastenne. The Vendors accepted all the Ordinary shares in payment for the Estates, and the money raised on the Debentures was employed for clearing off all liabilities at that time existing on the Estate, to provide working Capital, and for the expenses connected with the formation of the Company. SITUATION AND AREA. The Estates are situated in the Kotmale District, and comprise 968 acres, of which 700 are under tea, 660 acres being in bearing. ACCOUNTS. None yet issued. DIRECTORS' QUALIFICATION. Nominal value, 500. VOTING POWER. One vote per share. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. THE YATIYANTOTA CEYLON TEA COMPANY LIMITED. Registered i^th December, 1896. CAPITAL. Authorised 250,000 in 17,500 Ordinary and 7,500 6% Preference shares of 10 each. Issued 100,000 in 7,000 Ordinary and 3,000 Preference shares, all ranking as fully paid. Ordinary shares. All these were issued at a premium of 5 per share. Preference shares are cumulative, and have priority as to Capital as well as dividend. Directors. W. HENRY FIGG, Esq. CHARLES YOUNG, Esq. W. J. SMITH, Esq. Bankers. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. 1/2 Agents in Colombo. Agents in London. Messrs. WHITTALL & Co. Messrs. JAMES WHITTALL & Co. Secretary. Offices. W. H. BARTLETT, Esq. 9, FENCHURCH AVENUE, LONDON, E.C. HISTORY. The Prospectus was dated i8th December, 1896, and stated that the Company was formed with the object of acquiring, and working, the going concerns, Polatagama and New Polatagama Tea Estates, the properties of the Yatiyantota Tea Company, Limited, of Ceylon ; also the We Oya Tea Estate, the property of the We Oya Tea Company, Limited, of Ceylon, and the Walpola Group of Tea Estates owned privately. The price paid for all these Estates was ,126,700, a large proportion of which was accepted by the Vendors in Ordinary shares at a premium of 5 per share. With the exception of about 205 acres the titles to the properties are based on Crown grants. SITUATION AND AREA. The Estates are all situated in the Kelani Valley District of Ceylon, and comprise a total area of 3,083 acres, particulars of which are as follows : Estate. Total acres. Under tea cultivation. Polatagama and New Polatagama 1,489 ... 927 We Oya ... ... ... ... 622 ... 396 Walpola and Maha-Oya 972 ... 675 Totals 3,083 ... 1,998 ACCOUNTS. None yet issued. TRANSFER FORM. Ordinary ; Fee, 2s. 6d. per deed. ;-;. *v.-'. RETURN TO the circulation desk of any University of California Library or to the NORTHERN REGIONAL LIBRARY FACILITY Bldg. 400, Richmond Field Station University of California Richmond, CA 94804-4698 - .. I m% ALL BOOKS MAY BE RECALLED AFTER 7 DAYS 2-month loans may be renewed by calling (510)642-6753 1-year loans may be recharged by bringing books to NRLF Renewals and recharges may be made 4 days prior to due date m I ' ., f DUE AS STAMPED BELOW AUG 2 1 2004 DD20 6M 9-03 YC 26064 UNIVERSITY OF CALIFORNIA LIBRARY