, 1891-03-28
= As per 1OOlbs at par
. 1Sa al g 112

los Sd +" liz
at which price the Planter would be paid Us
per ton of canes. The price per ton OF cane
so calculated and to be paid as aforesaid is
hereinafter referred to as the standard
price"
There shall also be paid to the Planter
such a share of net profit of the Company as
is hereinafter provided"
On the reading of this clause,
Mr.. Burns said he would like, before the
meeting proceeded further, to ask how the
prices just read had been arrived at-there
appeared to be something wrong: He spoke
with difidence because he was no planter,
and had had no time to go into any calcutta
tions. He believed however that twelve tons
of cane would give a ton of sugar, value
about G1O; half a %puncheon of molasses,
value say FL 10 and certain other products
difficult to estimate in money, but OF use IN
the distillery and for feeding live stock.
The only charges to be deducted were the
costs of grinding and boiling, since the
planter would still grow and cut the cane as
at present and do part of the carriage. He
thought &2 a ton would cover this. The
planter therefore nets SO 10 for II tons Of
cane, besides the stock food &c, already re-
ferred to, while the Factory at it's average
price Of rs. a ton offers EFT 4 for the same
quantity anu no QUIET D6l6uUb liz CASH
His figures had been arrived at hurriedly
by mental calculation but the discrepancy
was 50 great that he would like Mr.. Lee to
explain.
Mr.. Lee said he had not expected this
point to be raised and was not prepared with
the calculations, they were long and intricate,
and some mistake might have been made: but
they had been made, with great care and were,
he thought, reliable.
Clause 8 provides for payment fortnightly
on account Of canes purchased.
Clause 8 provides for payment of balance.
Clause 10 provides for refund of over pay
ments. Clause IL provides that the net
profit of the Company each year shall be
\ applied first in providing a sum (Which shall
belong to the Company equal to aoumu-
lative dividend of Is per cent on the whole
of the paid up capital for the time being of
the Company and next, the balance (f
any, shall be divided equally between the
Company and the planters and each owner
Of the associated estates" the latter in the
same ratio to The whole of such moiety as
the total number Of tons of cane sold by
him during that season shall bear to the
total quantity sold by all the associated
owners to the Company during that season.
But before &scertaining the profits for the
purposes of this clause, in each year a sum
equal to s per cent on the capital outlay Of
the Company shall be set aside to consti-
tute a special reserve fund" to meet CON
tingencies and to extend: and improve the
works &c.
Clause Is provides
(a) For the audit of the Company's
accounts by a London OF Glasgow
Accountant of good standing and re-
pute.
Q5 That the Planter shall not be en-
titled to inspect the accounts, but shall
have on his written request an annual
statement signed by the Auditor.
Clause IA provides
(a) That the Company need only buy
canes that are sound and ripe.
b. That they need not grind out of season
unless there be a sufficient supply of
canes.
(c) That they are not to be bound to
grind in any one week more than a GER
tain number of tons of canes.
Clause Is provides flor the purchase Of infe-
rior canes according to test by Beaume's
Saccharometer.
Clauses 16, II, 10, 10 provide for the min