The Sun.
London, England, 1854-05-06 00:00:00

ASSAM COMPANY.

At a meeting of the Assam Company held yesterday the
dividend declared was 5 per cent., and the report and ac-
counts were unanimously adopted. The chairman (Sir
William Baynes, Bart.) stated that the progress made
both in the production of tea and in extending the culti-
vation was satisfactory, and that the directors entertained
confidence in the successful result of future operations.
In answer to questions, it was mentioned that the absence
of a profitnnd loss account was occasioned through the dif-
ficul' y of calculating the precise items, owing to the sales
of the two seasons' produce running one into the other. In
order, however, to meet the wishes of the shareholders, a
statement will in future be prepared, though in part based
only upon estimate. At the termination of the proceed-
ings special votes of thanks were passed to the directors,
and their annual allowance was increased from 4001. to
bOO/. Annexed is an abstract of the report :
" The directors have gratification in presenting a report of
the state and prospects of the Assam Company, which they
believe cannot fail to be satisfactory. The report of the su-
perintendent furnishes the details of the state of the plant
and establishment in Assam, and the directors refer to that
report as evidence of the judgment and ability displayed by
the present superintendent, Mr. Williamson, in the manage-
ment of the concern. In that document it will be observed,
that the difficulty of obtaining labour, to which the director
drew attention on a, former occasion, as being, in their opi-
nion, the greatest obstacle to the rapid extension of the un-
dertaking still continues to exist ; but, although reasonable,
expectations cannot be entertainad that the concern is
capable of very rapid extension, the directors doubt not that
the shareholders will consider the progress made during the
last two years satisfactory, and that they will feel that every
possible effort is being made by the local board and the chief
superintendent to meet and overcome a difficulty the im-
portance of which they fully appreciate. It is, moreover,
encouraging to find that, in the opinion of the superintend-
ent, the present area of cultivation is capable of producing
750,0001 b. of tea. From the statements furnished it appears
that the area of productive cultivation in 1852, comprised
1,337 poorahs, which was increased in the past season, by the
addition of 239 poorahs of seedling gardens, which had become
of au age to be plucked, to 1,576 poorahs, and that by a
like addition, the productive area of the current season
amouutsito 1,815 poorahs, from which the crops of 1854
will be gathered. It will also be remarked that during the'
past season 310 poorahs have been cleared and sown (being
60 more than had been estimated), so that the total area of
cultivation is now 2,116 poorahs of land. The crop of tea
manufactured in the past season amounts to 366,6871 b.,
showing an increase of 95,2611 b. over that of the pro-
vious year, and 65,2611 b. more than the estimate con-
tained in our last report. The produce of 1852 has all been:
sold, except 12,3371 b. now in warehouse, and has realised.
25,9301., giving ls. Hid. per lb. net; and, in continuation
of a statement contained in the last report, as tending to
show the satisfactory progress of the undertaking, the direc-
tors desire to call attent ou to the following figures, showing
the sums and the average prices realised by the sale of pro-
duce from 1847 to 1852 inclusive :—The crop of 1847 pro-
duced 9,7281. net, and ls. 4d. per lb. ; 1848 produced.
2,5521. net, and is 5 1-16 d. per lb. ; 1849 produced
1,;,628/. net, and ls. 6 13-16 d. per lb. ; 1850 produced
18,1531. net, and Is. t; 2-16 d. per lb. ; 1851 produced
22,151/. net, and ls. 84d. per lb.; and that of 1852 pro-
duced 25,9301, net, and ls. 1141. per lb. The produce of
1853, if sold at ls. 10d. per lb. net, will give 33,611/, Look-
ing back to the brief period of a few years, when the pro-
spects of the company were so gloomy that the value of the
shares was reduced to all but nothing, it is pleasing to find
that such has been the improvement in its management and.
prospects as to enable the directors to recommend a divi-
dend of U. per cent. on the paid up capital, and, further, to
find that the shares are fast recovering their value in the
market."