FIRST PRIVATE IRRIGATION COMPANY 55 The figures for area under irrigation from these projects were : Barur - 5,325 acres, Periyar - 154, 068 acres and Rushikulya-92,399 acres. Net incomes earned as percentage of capital invested were : Barur - 1.4%, Periyar - 3.6% and Rushikulya-0.6%. 28 EH Phelps Brown and Bernard Weber. "Accumulation, Productivity and Distribution in the British Economy, 1870-1938" Economic Journal, June 1953. 29 Imperial Gazetteer of India, Vol. Ill, Oxford 1908, p 328. 80 Report of the Directors at the first ordinary meeting of the company, 2 7 October 1859, P2. 81 Ibid. 92 Quoted in the report of the first meeting of the directors of the Madras Company. 88 N Sanyal, Development of Indian Railways, p 13. 84 Quoted in Amba Prasad, Indian Railways, p 48. 88 Ibid., p 52. 86 Public Works letter from the Government of Madras, No 28 dated 8 July 1859. 87 Cotton^s memorandum on the question of the first project to be undertaken by the Madras Irrigation Company (Appendix to Report of the Directors at the first ordinary meeting of the company). 88 Ibid. 89 Ibid. 40 Ibid. 4 l Ibid. 42 The total figure has oeen given in Cotton's memorandum as Rs 136 lakhs. This total is clearly incorrect. 4 8 Cotton's memorandum cited above. 44 Report of the Directors read at the first annual general meeting of the company. 46 Ibid.