Most of these are co-operative, their shareholders being the farmers themselves.
In 1905 there were 134 tea-planting companies registered in India, about 80% of the capital being held by shareholders in London.
Of the net profits, a dividend of 31/2% is first payable to the shareholders, 20% of the remainder is transferred to the reserve until this has reached a total of 3,000,000, and of the remainder again a quarter is apportioned to the shareholders and three-quarters falls to the imperial exchequer.
On the, 13th of September 1905, a meeting of the shareholders of the company was held, and Read "asked them to believe that it was not in the interests of the company, but because he knew that the Lord Jesus Christ had come again and was now dwelling at the Agapemone, that he was thus cast out by his colleagues."
To use the expression of Sir William Mackinnon, the shareholders have been compelled in some cases to "take out their dividends in philanthropy."