1 Including three-fourths of 1 per cent bank commission; one-half of 1 per cent marine and fire insurance. The above is an extract from our books of total importations of lemons from July 1, 1908, to 1909. 1 Including three-fourths of 1 per cent bank commission and one-half of 1 per cent marine and fire insurance. 145.26 541.78 351.17 15,676. 24 3.14 15,480. 29] 3.10 195.95 .04 170.91 402.04 301.05 13. 845. 75! 3.00 11,488.65] 2. 47 2,357.10 .43 148. 17 278.18 186.98 14,766. 08 3.60 7,948. 55 1.93. 6,917.53 1.57 The above is an extract from our book for total importations of lemons from July 1, 1911, to July 1, 1912. AT NEW ORLEANS, LA. 1, 1912).. Quantity of boxes of lemons imported during the year from July 1, 1911, to July 1, 1912. Average loss during the period per box Loss during the year on quantity imported from Aug. 11, 1908, to July 1, 1909. PARAGRAPH 277-LEMONS. THE ANNUAL REPORT OF THE MANAGER TO THE STOCKHOLDERS AND Directors of THE LIMONEIRA Co. GENTLEMEN: The past year might perhaps be termed about an average year as to market conditions. During the winter and spring months the prices were quite low, but the summer prices were good and fall prices were high, the average price per car being $930, or $127 per car more than the average of 1908. The average packing-house expense per box was considerably less, owing principally to cheaper box material, and the average orchard expense per box was also less, owing to a larger production. A new fungus disease, hitherto unknown in California, called "withertip," made its appearance in our groves during the past year, and until the management learned how to handle it, did considerable damage. It caused a great deal of foliage and young fruit to drop, which undoubtedly will shorten the crop of 1910 considerably. It was finally found that the disease could be controlled by the application of Bordeaux mixture, and it is thought that there is little danger of serious damage in the future. There was also considerable frost damage, resulting from cold weather on December 18 and 19. The management estimates the loss as not to exceed 15 carloads of fruit, or a prospective financial loss of ten or twelve thousand dollars, depending on market conditions. You will note that the net earning for 1909 was $167,486, or nearly 163 per cent on $1,000,000, the par value of the stock of the company. At the close of the year a number of changes have taken place in the heads of the various departments of the company. Mr. Corey, the foreman of the Limoneria Ranch, leaves on account of ill health. Mr. Foss, the foreman of the packing house, and Mr. Spence, foreman of the Olivelands, also leave. In losing them, the company loses good men, who have served faithfully. All of these positions, however, have been satisfactorily filled, and the management is satisfied that there will be no resulting loss or serious inconvenience to the company. OLIVELANDS. Owing to a shortage in the walnut crop and a lower price, the showing from Olivelands was considerably less last year. The ranch, however, paid all expenses and interest on the bonded indebtedness, and $3,100 besides, which should be satisfactory, when one takes into consideration the fact that the ranch is furnishing 300 acres of new lemon land. NEW PLANTING. Approximately 75 acres were set to young lemon trees during the year, making a total of about 255 acres which have been planted since the company purchased the property. The trees are all thrifty and doing well. TRACK RANCH. The results from the Track ranch are poor for the principal reason that it was determined early in the season to devote the summer to tile draining, summer fallowing, clearing, and grading, preparatory to getting the land in good condition to grow beets and alfalfa profitably. These things have been done and the management expects the ranch to take its place next year among the profitable properties of the company. The company has expended on Olivelands in the last three years since its purchase in permanent improvements, new orchards, irrigation systems, etc., approximately $70,000. During the same period $30,500 has been paid on the original purchase price of Olivelands and $38,900 expended in the purchase of the Track ranch, equipment, and improvement of same, making a total of $138,500, and in addition to this many permanent improvements have been made on the old ranch and $340,000 paid in dividends by the company to its stockholders. Respectfully submitted. C. C. TEAGUE, Manager. PARAGRAPH 277-LEMONS. ANNUAL REPORT OF THE SECRETARY OF THE LIMONEIRA Co. To the board of directors and stockholders. GENTLEMEN: I herewith submit the following report of the affairs and condition of Limoneira Co. for the year ending January 1, 1910: Lemon land, cost of preparing land, planting and caring for new lemon orchards. 9, 615. 23 325.00 9, 615.23 1,373.01 866.15 136.70 931.50 971.49 4,324.65 7,949.70 14,388.39 3,748.04 73.00 461.35 427.60 15,206.40 15,000.00 5,872.00 15, 352.62 89.50 461.84 39,692. 61 525.15 196.65 10,615. 77 1,412.50 122.50 5,463.55 110,000.00 5,206.45 110,000.00 Irrigation system, pipe line.. Olive lands ranch Paid out on good and sufficient vouchers, on file in this office.... Cash on hand Jan. 1, 1910. STATEMENT OF LOSS AND GAIN. From Limoneira ranch proper and Track ranch, received from all sources: Commission received upon walnuts sold for Saticoy Walnut Association.... Rentals received from rent of Japanese dormitories and laborers' cottage.... Beans, gain on same for 1909. Office rentals, gain on same.. Thorpe lease, gain on same for 1909. Rebates and allowances received from payment of claims against railroads for damages due to their neg- Lemons, gain on same (before deducting orchard costs). Track Ranch beets, gain on same. Track Ranch beans.. Walnuts, gain on same.. Total.... Items of expense and loss from Limoneira Ranch proper and 705. 50 1,254. 21 875.28 3, 585. 11 1,275. 71 242, 955. 58 1,208.09 141.31 361.75 7, 006. 55 15, 106. 13 250.29 2, 023. 60 15.08 145.00 577.38 1, 417.33 828.85 28, 818. 18 26, 483.72 107.94 978.85 695.26 809.82 5, 445. 67 261, 878. 19 |