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abundant output of oil, which was moreover stimulated by the slow 

 sale of lemons in boxes. But the position suddenly changed when 

 news was received from the United States of a projected new duty, 

 this news being accompanied by large orders for shipment. In the 

 course of a few days the price of lemon oil rose to 8 marks and 

 8.25 marks per kilo, and at this point it remained for nearly 4 weeks. 

 A slackening gradually set in when it was shown that there would 

 be no difficulty in supplying the large quantities of oil demanded by 

 the United States. It became more and more evident that the oil- 

 output was far from having been injuriously affected by the earth- 

 quake, and that the quantity produced was indeed exceptionally 

 abundant. Thus the prices slowly receded again, and at the beginn- 

 ing of June they reached the lowest point, viz., 6.75 marks. Here, 

 however, they only remained a short time, and by degrees they again 

 rose to 7 marks and 7.25 marks. Now that it is a little easier to 

 review the stocks and that the conviction has gained ground that 

 there is still an available supply of from 100 000 to 120000 kilos of 

 lemon oil, the article has fallen once more, and at the present time 

 the price is from 6.25 marks to 7 marks. Out of the stock men- 

 tioned above from 3 to 3Y2 months' consumption will have to be 

 satisfied and although at the arrival of the new crop this is hardly 

 likely to be altogether used up, it may be assumed that a very 

 considerable part of the supplies now in existence will find their way 

 abroad. 



The news of the prospects of the new crop is, generally speaking, 

 unfavourable. Taking one thing and another the information from the 

 various districts is to the effect that the yield is likely to fall about 

 2O°/ below that of last year. Up to the present the quality of the 

 fruit is said, on the whole, to promise very satisfactory results, which 

 means that it is probable the lemons will be suitable for export in 

 cases, but unfavourable climatic conditions may bring about a con- 

 siderable change in this respect. So far, few contracts for new season's 

 oil for future delivery have been made; the manufacturers ask 6.50 marks 

 for such oil, and presupposing that business will take a normal course, 

 it may be assumed that this will be about the range of the new 

 season's prices, and that no important fluctuations either upwards or 

 downwards are to be expected. 



Mandarin Oil. The supplies of this oil are also almost entirely 

 cleared, only a few isolated parcels of good quality being available. 

 The quotations, which rose to 40 marks immediately after the earth- 

 quake, have receded to from 28 marks to 30 marks in the course of 

 time, and at this range they still remain. The new crop promises a 

 normal yield, and important changes in prices are hardly to be expected. 



