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DERAL RESERV

ANK OF NEW YORK

15 NASE
STREET
AFTER FIVE DAVS,RETURN TO

1111

NEW YORK,N.Y.




The President
Javasche Bank
Batavia, Java, D. W. I.




FEDERAL RESERVE BANK
OF NEW YORK
March 9, 1.920.

S

i r

:

We take pleasure in introducing to you the
bearer of this lette-, Mr. Benjamin Strong, Governor
of the Federal Reserve Bank of New York, his son,

'Mr. Benjamin Strom, Junior, and Mr. Basil Miles,
formerly of our State Department.
Assuring you again of our deep appreciation
of any 3ourtesies which you may extend to Governor
Strong and his party, we beg to remain,

J. H. Case,
Acting Governor.

The President,
Javasche Bank,
Batavia, Java.




larch 9, 1920.

1107mci

PT.

ft,A,1

Rii3E(1.PV0

S i r

:

Mr. Benjamin Strom,

Governor of this bank,

expecte to leve in April of this ye r on t journey through
the East, and is lockinp fers,:rd Pith such plesure to the
op;,ortunity thus afforded him of visiting your institution.
His eon, Benje.min Strong, Junior, and kr. Baoll Wiles,
formerly of our State De.iartnent, will etc:company Governor

Stronq

find we Atli dee?ly appreciete any ccurte:Aee Khich

you may extend to Governor Strong and his otrty.
With renewed ex1 7ression of our esteez and regard,
we be

to rezein,

Red2eotf41y4
r

J. H. Ctse,
Acting Governor.

The President,
Jtvasche Bank,
Batavie., Java.







OLVVAillitUICIE

The Honble Benjamin strong.

likli

111K, OFAr.A.111 GitilILii 1421LIVI

OPGERICHT 1828
TELEGRAM ADRES
DELEGATIE




You would oblige us by disposing of our services, whenever
you may be able to do so.

Looking Forward to the pleasure of meeting you and with
kind oersonal regards from the second writer, we remain,
Yours very truly
PRESIDENT
D

DIRECTEUREN van

VASCHE BANK

fl

11111111,H
'461'

oaRicHT

1828

1112LIN1K

5

TELEGRAM ADRES
DELEGATIE

0
Batavia 8ti May 1920.
No 93/,,
tqk
),.?

04

-o

Sir,

We thank you for your letter of March 9th, bringing us the
welcome news of Governor Strong's intended visit to this country. i.e

highly appreciate the opportunity thus offered us to come into a
more personal contact with your esteemed institution.
Governor Strong and his party, we can assure you, will be
most welcome visitors here and we shall be pleased to do anything
we can to make their stay in the Dutch East Indies as agreeable for
them as possible.

Having been advised about his Eastern trip by Dr.G.Vissering
of the Netherlands Bank, we took the liberty to address Governor
Strong: care of the American Embassy at Tokio, offering him our services for anything he might require in connection with his visit.

Expressing our satisfaction at having this opportunity of
being of some assistance to your institution we remain with renewed
regards

Yours respectfully
PRESIDENT VDIRECTSUREN van
VASCBE BANK.

The ACTING GOVERNOR
Federal Reserve Bank of New York

NEW YORK.






THE BOMBAY JAVA TRADING G? 12°,

BATAVIA.

()tgCo-t4

a,/,r

ez,,x

y
a%-ki

'rt

a

A 1-2e_e)ai

4?

4




THE KERTASARIE TEA COMPANY LIMITED

REPORT AND STATEMENT OF ACCOUNTS

as at 31st December 1919

THE BOMBAY JAVA TRADING Co. Ltd.




Printed by Albrecht & Co.
Weltevreden.




8

BATAVIA 26th. May 1920.

To the shareholders of

45

THE KERTASARTE TEA COMPANY LIMITED.

Gentlemen,

We beg to submit herewith the audited Accounts as at
31st. December 1919.

Buildings. Small additions and the usual repairs were
carried out. Two coolie houses with one room were built.
The stable was pulled down.

Small repairs and the usual upkeep were
Factory.
attended to and the factory and contributory buildings are
in good condition.
Machinery. The distribution of power in the factory

was found not to be entirely satisfactory and to obviate
expenditure on minor repairs to the shafting a set of flexible couplings have been ordered. An auxilliary engine
will be installed to run the sawing plant as a separate
unit. This will equalize the distribution of power and
provide a reserve against possible mechanical breakdowns
in the future.

The expenditure involved under this heading is taken

up in the paragraph of this report which deals with the
Estimate for 1920.

New Tea Clearings. The expenditure on the 1917 clear

ing of 105 bouws has been included with that on the
areas in production although this area is not as yet producing tea.

5.16 bouws known as the 1919 clearings, have been
planted up.
19 bouws known as the 1920 clearings, have been felled,
cleared and burnt.



4

An extra piece, unmeasured at the close of the year
has been felled for ultimate use as a nursery.
Plsnted area. is now 721 bouws.

a.

ws a satisfactory increase
ess of 132.254 half-kilos on
might have been somewhat
n November and December,

more favourable. The average
86 t ouws in bearing amoun-

1016 in 1918 and 1383 in 1917.

hows the returns from the
EQUIVALENT TO
DRY TEA
Remarks

ja.
ca.

1700 9711 11 Bs. pruned
322.924
769 439 July/Aug.
34
735.931
ec.

Sept,




6

Less :

Brought forward ... f 141.302.76
Debenture Interest & Charges f 5.940. Depreciation of Buildings (10 0/0. 7.044.59
Machinery (15
10.010.94
Motor Cars
500.

tate Furniture

e Tax 1919

95,53
07.23

ale of
timappear

wever

e pose one

state

y.







11

10

THE KERTASARIE TEA CO: LTD.

ANALYSIS OF CROP.

Total
made Tea
in
Half-Kos:

AREA OF GRANTS.
Bws. R. R.
Kertasarie I (Tegal Padoeng) 536.) 22.273
.
II (
III (Tanah Goha ) 2- '.252
.
-18 090
.
.
IV (

op.

of

BLOCK STATEMENT as at 31st. DECEMBER 1919.

Jan./Dec. I.July/Dec,

1

Bouws.

Tea planted, Season
01

111

OS

65

Season

5.8
3.1
3.2

2.2

1912/13,
1913114,
1915,

,.

11

01

935.046

1920.

Total area

PERMANENT BUILDINGS as at 31st. DECEMBER 1919.

1

Manager's House with outbuildings and Motor Garage.
Assistants' Houses with outbuildings and one Garage.
Double storied Tea Factory and Sawing Room.

1

Masigit.

1

Passar.

1

4

1

1

4
1
1

and sold as Fannings No. 2.




Godown for spare stores.
Fo;ge.
Bath-houses.
Pay, Rice and Tool-shed combined.
Bioscope Projection-room and Hall (Latter unfinished).

Bandstand.
Waroengs
3 Mandoors` houses.
1

5

los:

114
15

Coolie houses with 1 room.
2 rooms.

1

.

2

12

1
1

1.-

105.4
5.16
720.96
6.45

Buildings
352.629

los:

5.-

47.3
31.1

1617118,
1919,

Nurseries
Cleared for

the year.

156.5
21.5

18.-

"
Forest & Grass land )

100 %

190.140.-

1916,17,

23.050
6.6
01

2.3

1908,9
1909/10,
1910/11,
1911/12,

Seed Garden "

17.3 c'm

11.4

11

It

V (Tegal Padoeng) 126.VI (Tamil Goha ) 9.431

.

135.330
18.2
47.5
352.952
11.5
272 40.392 ,,
22.990
994

AREA DEVELOPED.

Firewood shed.
Carpenter's shed.

3

..

19.-

188 59

935.-

12

MACHINERY as at 31st. December 1919.
60 H. P. Marshall's Steam Engine.
80 H. P. Hornsby Suction Gas Engine with Generating plant
1
Pump, belt driven.
2 Davidson Tea Driers.
1
Empire. Tea Drier.
1
Jackson Square Roller.
6 Double Action Metallic Rollers
4 Sirocco Tea Cutters and Sorters.
1
Colombo Tea-sifter.
1
Jackson Rotary Ball-breaker,
2 Colombo Ball breakers.
1 Davidson Double Packer.
Pairs Sirocco Withering fans.
Pair Blackman
Withering Machine.
Blackman Dust Fan.
Dynamo 226 Amperes with switchboard.
Circular Saw (large).
(small).
Is
Planing Machine.
Tongue and Grooving Machine.
ANALYSIS OF COST.
Main-Shaft with transmissions and extension to sawing Room
EXPENDITURE ON ESTATE AS PER
Southbend Lathe 21 inch X 12 feet with overhead transmission.
Lengths each 5 metres Iron Rails. ACCOUNT.
WORKING
Iron Truck, for moving steam engine
3 inch Shaft, Dynamo Transmission.
1

1

2
1

1

1
1

1
1
1
1

1
1

1

1

.

Production for the year 743,086 half-kilos : dry Tea.

Salaries & Wages
General Expenditure
28,266.27
3.84

,,

3,462.56

-.46 5,581.78 -.75
Machinery

acture 13.23
39.80

006.44
95.54

-.40
-.05




f

Cost per 1/, kilo.
27,557.07

3.71 cents

14

THE KERTASARIE TEA
BALANCE SHEET

LIABIL1 TIES

es of f 120.- each fully paid165.000
100.

,,

-/7

f f 500,- each ....

18.000
150.000
62,000

g Fund f 48000. -)

not presented for payment..
est

183,000

88000
110.000
6500

-

465
43 20

48410

Sheet
3234 19
3024 32

Sheet

e Sheet ....

al Meeting June 17th 1919
ebentures

100 000
60,000

61:58 51

40,0( )0

10.0(

19117 27

Sheet
rve Fund 1917 ..

.

..

rve for Income ..
vidend (overwinst)

A/C 5%
" shares

f 3024,32

3986 33
60.000
63986 33
3500
60.486 33

,, 9900. 1

5 80
0 53
1 86
8 67

20'-

8 67

4 25
4 42
9 73
3

08

f 590924

23
71

y Linreed

oks and other docuBatavia, and hav

ncorporated therein

awn up so as to « xy's affairs as shonw
my information and



74307

ture

The Kertasarie Tea Co Ltd.
WORKING ACCOUNT for year ended 31st. December 1919.
1919.

1919.

f27657 07
General Expenditure
28266 27
December. 31 To. Salaries and Wages
Upkeep of Buildings
3462 56

Upkeep of Machinery
5581 78
34486
Tea Cultivation Seed Gardens 61
98339 80




It

f

Seed Sales
December. 31 By. Tea sales
in Stock on Estate

-

339520 18
925

17

6068 H. Ks Dust
395 54

Shade and Forest Trees

IS01580

3006 44

Advances to Natives

Amount written

off,

396 02

Estate Shop aic.
Amount written

off.

(theft)

1919.

December. 31 To Reserve for Income Tax f 10000

To Debentures Interest
and Charges.... . ......

.I

5940

-

-

To Depreciation of Buil7044 59
dings .... .... ......
To
,.
Machinery.. 10010 94
.

KONINKLIJKE

PAKETVAART MAATSCHAPPIJ

WELTEVREDEN.

September 4th >yea Str
Mr. Benjamin

.NFD SECRETARIE




Governor of t

rear C ir,

Herewit

following arrang

your voyage to t

On or a

and your party f
arrive the next

:Aost p

at any rate not

On 22nd

to bring you and

1111 be early e

Cingapore on Sep

I instr

for you and your

apply on arrival

We here

passage for your

I am




Bersama-sama tiap-tiap permintaAn
akan keterangan dari perkara soerat

itoe maka formulier itoe misti
dioendjoekkan djoega.

L

MODEL T 1.
Bij

breontrale

4'-Ontv. onder 1
lokaalnr.
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Nicontrale
paraaf.

toe;telnr.

en paTaaf.

_

elk verzoek om inlichting betref-

GOUVERNEMENTS POST-, TELEGRAAF- EN TELEFOONDIENST. fende dit telegram moet dit formullier
worden overgelecr
Doc4,
ondf,

,den

ten

v.m.

ten

De Staat of de bijzondere telegraafonder

Telegram uit

ingen zijn niet verantwoordelijk voor het goed overkomen van tel grammen in het algeineen of binnen den bepaalden tijd.

Soort. 1Nummer. Woordental.

Datum.

Woordentelling.




M.-V.M.
11.M.

door

Katitoor to SEMARANG.

door

19_

Collationnement door de expeditie of to scheuren.

I

Tijd van aanbieding.

I


http://fraser.stlouisfed.org/
cfc
.1.
Federal Reserve Bank of St. Louis
5

fie

Jun den ('')..ten 3egootteda9

Jan

X1

D:-,dojo dans (Genr:inz 3inem)

Uitsevoerd door 0 bedojols zewanend net nistclen.Dene dans is :zit
http://fraser.stlouisfed.org/
gevenden door
Federal Reserve Bank of St. Louis

SeHoden Ceeso3halnan de tZde.

HOLLAND (NETHERLANDO) EXCHANGE.
Lioney of Holland:

Conversion:

Unit, 1 Gulden or Florin = 100 Cents

Dollars into Gulden.

.That amount in gulden and cents will .;101.08 buy at rate of 40.35 per
gulden?

Operation:

.4035) 101.0800

)

250.50 gulden - Answer

8070
20380
20175

20500
20175
3250

Explanation:

Divide amount in dollars and cents by rate per single gulden.

(Another method of figuring Holland Exchange)

In the larger cities it is the practice to quote the rate for Holland excnrnge
in cents and fractions of a cent, thus: 40 3-16 cents per gulden - and when
the business they
such rates are not considered sufficiently
will be supplemented with fractional rates as in French and German exchange,
thus: 40 3-16 minus 1-32 of 1 per cent, expressed 40 3-16-1-32.

Conversion:Dollars into Gulden.

What amount in gulden and cents will 2,008.75 buy at rate of 40 3-16-1-32 of
4998.44 gulden
.401875) 2008.750000
Operation:
1607500
1.56
4012500
5000.00 gulden
3616875,
- Answer
3956250
3616875
3393750
3215000
1787500
1607500
1-32 of 1% of
1800000
5000 gulden = gulden 1.56
607500
192500
Explanation: Divide the amount in dollars and cents by regular rate (40 3-16)
Find 1-32 of 1 per cent of amount in gulden and
not using the fraction 1-32.
cents, adding same to total. Bear in mind that where fractions such cs -a-32 or
+ 1-32 are used and you are converting dollars into gulden, the equivalell; of the
fraction in United states money converted into gulden must be added if MINUS and
(

deducted if PLUS.
Note: Addition, subtraction, multiplication and percentage are computed in Dutch

money as in United States money.










CHINESE EXCEUNGE.

Loney of China:

Unit, 1 dollar = 100 Cents

Money of Hong Kong: unit, 1 dollar = 100 cents




0

S-20

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COPY
Dear Case,-




N.V. Hotel Slier
Solo - Java
A thousand thanks for
Sept. 12th 1920
news, which made me feel quite
a few comments on what you writ

The China trip was imp
of information of some interest

Mr. Williams is a good
his election. All the changes i
good wishes to each. Also the

What was done regardin
to the interest of both institu
affairs, -a book I an bringing
is the financial backbone of th
both the business and Governmen
There
able and safely managed.
war influences have been felt h
unfavourable comment about the
unchanged at 3 1/2% for 11 year
Their gold holdings, bill
low.
largely, and the living cost ha
Price of the Bombay Java Tradin
know (he is a director in the B
calculation made from the enclo
family expense a/c. and as_he
thousands of cooleys, I regard
expansion they tell me has only
exports, and it seems to be the
dog chasing his tail. There is
it disappeared, and the Colonia
small demon-s, and here again h

One of the best eviden
was told me by a number of Dutc
foreign exchange market was com
difficulty at once for pay roll
disorganized the whole producti
Mr.-e
arisen with the natives.
+ planters and ifnformed them t
those repponsible for pdoducing
requirements. No w*ser action
I truly think he saved the colo
great inducement fur all the ma
to draw on their credit out her
in London, Holland etc. and the
to carry. They run on 4o % met
I am greatly impr
20% minimum.
country and of the many evidenc
organization, development and g
Palace, and having some long ta
government officials, I am amaz
in the Colonial Service. To su
requirements. They have always
years and are well known at the

-2 -

0
op

The cable regarding gold held in London reached me o.k. and I hope my reply
was clear. The B. of E. have shown is every consideration in the matter, - and as
there might be a remote possibility some day of their needing some gold "help", and
as we are the ones to grant it, I am sure they will appreciate our inquiring their
views before ordering it all shipped.

Don't worry about the situation this fall. The strain, if one arises, will likely
be in Deer + early Jany, possibly sooner, and it must be met, with discrimination. We
must never forget that the test of the credit situation in the country, will be the
"inventory" accounts of our manufacturers + merchants.
I hope our cre
is studying that feature of our statements, and getting the data in readily understandable form.
I was much impressed by the system at San Francisco, which we should
study.

What you write regarding the C/I situation is most gratifying.
friends in Washington appreciate your good work.

I hope our

Many thanks again for all the news, and the fine data with it.
I often
feel guilty, loafing and travelling while you are all so busy, - but soon now I
shall be back at the task with you. Our experiences would fill a book, and I shall
reserve their recounting until my return.

The climate here is gorgeous.
It is warm, and often a hot s
nights usually comfortable, and in the interior, where it is high, one always needs
covers at night, sometimes two blankets. White clothes, a sun helmet, two baths a day,
and a nap after lungh, keeps one in prime condition, and I am feeling fit and fine,
as do all the party.
My beet regards to all at the Bank and to you.




Sincerely
[signed! Benj. Strong


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102