Sept,  i,  1892] 
THE  TROPICAL  AGRICULTURIST. 
207 
The  year  may  be  characterised  as  most  unsatis- 
factory as  regards  the  import  trade.  The  fall 
of  the  dollar  in  its  relation  to  gold  has  con- 
stituted a constant  source  of  embarrassment  and  loss 
to  importers.  The  same  cause  has  naturally  operated 
as  a stimulus  to  exports,  and  has  thus  undoubtedly 
thrown  money  into  the  country ; but  this  would  ap- 
pear to  have  been  absorbed  to  meet  previous  indebted- 
ness rather  than  have  the  effect  of  reviving  business  in 
imports.  It  is  believed  that  more  of  the  capital  of 
the  country  is  locked  up  in  joint  stock  enterprises, 
such  as  the  privately-owned  railways  and  industrial 
concerns,  than  the  country  can  afford. 
Earthquake,. — An  event  which  seriously  affected  Japan 
last  year  should  not  be  overlooked  in  an  account  of  the 
trade  of  the  year — the  great  erathquake,  namely,  which 
occurred  in  the  Gifu-Nagoya  district,  on  October  28th. 
Several  cotton  mills  were  entirely  disabled  through 
this  catastrophe ; the  potteries  of  Seto  were  wrecked, 
and  buildings  generally,  railway  and  other  structures 
destroyed,  and  industries  interrupted.  The  extent 
of  the  severely-shaken  district  was  over  4,000 
square  miles,  a large  part  of  which  was  a populous 
region.  7,248  persons  were  killed  and  11,635  wouuded 
io  the  earthquake  in  the  Gifu-Nagoya  district 
British  Trade. — The  trade  between  the  various  poi- 
tions  of  the  British  Empire  specified  in  the  third  table 
of  the  returns  of  this  port  amounted  in  all  to 
£1,191,596  declared  value  of  exports,  and  £2,520,053 
value  of  imports,  or  £3,711,649  in  all.  This  constitutes 
29  per  cent,  of  the  toial  foreign  trade  of  the  port, 
a decrease  of  eomewhat  more  than  10  per  cent.,  as 
compared  with  the  ratio  of  the  British  to  the  total 
foreign  trade  of  the  port  in  1890.  The  trade  with  the 
United  Kingdom  alone  has  decreased  26  per  cent,  on 
that  of  1890  ; that  with  Canada  and  other  British 
America  has  increased  5§  per  cent.  ; that  with  Aus- 
tralia has  decreased  42  per  cent.;  that  with  Hong 
Kong  increased  nearly  14  per  cent.  ; and  that  with 
British  India  decreased  56  per  cent. 
EX-PORTS. 
Tea. — The  quantity  of  tea  exported  last  year  was 
30,644,396  lb,  or  3,182,174  lb.  in  excess  of  that  in 
1891.  In  May  inquiries  here  ran  largely  on  lower- 
priced  grades,  the  notion  being  that  such  would 
prove  the  more  lucrative  investment.  The  conse- 
quence was  that  a great  q antity  of  hurriedly  prepared 
low  grade  leaf  was  brought  forward  from  the  coun- 
try in  May  and  June,  aud  bought  up  at  excessive 
prices.  This  led  to  the  belief,  on  the  part  of  the 
dealers,  that  quantity  was  more  an  object  than 
quality.  The  careful  manipulation  of  the  leaf,  which 
was  noticeable  at  first,  disappeared,  and  the  character 
of  arrivals  continued  to  be  unusually  poor.  What  had 
at  first  promised  to  be  a satisfactory  season  thus 
proved  to  be  disappointing.  The  prospect  of  largo 
supplies  induced  a depressed  market  at  the  consum- 
ing centres,  wbere  importers  have  found  it  difficult 
to  realise  cost  for  aoy  teas  deficient  in  quality’.  The 
demand  for  better  grades,  on  the  other  hand, 
has  been  well  sustained. 
There  has  been  rather  more  inquiry  for  Japan 
congous,  but  the  prices  obtainable  have  not  been 
remunerative  to  the  growers,  and  it  is  unlikely  that 
this  mode  of  preparation  will  ever  be  an  important 
feature  in  the  trade  from  this  country. 
The  following  is  an  analysis  of  the  export,  showing 
the  destinations  of  the  tea  : — Canada,  10.846,075  lb.  ; 
Chicago  7,606,474  lb. ; New  York,  6,807,832  lb. ; Cali 
fornia,  4,647,629  lb. ; Europe,  451,017  lb.  and  the 
balance,  for  the  most  part,  to  China. 
The  routes  by  which  it  was  carried  were  as 
follows : — 
By  Pacific  Mail,  and  Occidental  and  Oriental 
>? 
» 
V 
11 
steamers  . . . . . . 8,918,524  lb. 
Canadian  Pacific  steamers  . . 2,784,195  „ 
Steamers  in  connection  with  Union  Pacific 
Railway  . . , . 
Sail  and  rail  via  Tacoma 
Sail  and  rail  via  Vancouver 
Sail  to  San  Francisco  , . 
Steamer  to  San  Francisco 
Steamer  via  Suez  ,, 
. , 3,599,161  „ 
. . 4,277,911  „ 
..  3,620,198,, 
, . 642,528  „ 
38,226  „ 
6,509,883,, 
Tea  freights  by  Canadian  Pacific,  Paoific  Mail,  and 
Occidental  and  Oriental  steamers  and  rail  to  eastern 
cities  of  the  United  States  and  Canada,  at  the  openiug  of 
the  sesson  in  the  ern.  of  April  and  beginning  of  May, 
stood  at  2Je  aud  3c  per  lb.  groes.  They  gradually  fell, 
until  towards  the  latter  part  of  the  season  they  reached 
ljcandljc.  Rstes  by  the  Canadian  Pacitio  were,  aB  a 
rule,  lower  than  by  the  other  two  lines. 
Throughout  all  Japan  there  are  now  open  to  traffic 
1,717  miles  of  railway. 
HIOGO. 
Consul  Ecshe  repr  rts  on  April  8th  to  the  Marquis  of 
Salisbury  on  ti  e foreign  trade  of  the  Consular  district 
of  lliogo  fort, he  year  1891  : — 
* * * 
Tea — Up  to  the  end  of  February  some  2,500  piouls 
of  old  tta  were  sold. 
The  new  teas  were  first  offered  on  April  27th,  aud 
found  buyers  at  prices  ranging  from  SI  to  §3  above 
what  had  been  paid  for  early  teas  during  the  pre- 
vious year 
A very  active  business,  amounting  to  127,000  piculs 
was  done  np  to  the  end  of  July,  when  the  common  teas 
monopolised  the  attention  of  buyers.  The  enormous 
demand  for  these  teaB  caused  the  teamen  to  hurry  for- 
ward supplies,  without  paying  care  to  the  style  in  which 
they  were  brought  to  market,  and  for  some  time  prices 
were  higher  than  in  1890,  whilst  the  fine  teas  were  no 
dearer. 
The  total  quantity  of  tea  sold  during  1891  was 
162,534  piculs,  or  about  5,000  piculs  more  than  during 
the  previous  year,  the  average  price  paid  being  $17 
per  picul,  whereas  a few  years  ago  it  was  about  $20 
per  picul. 
The  quality  of  the  crop  generally  was  not  so  good  as 
in  1890,  and  the  teas  also  showed  careless  preparation. 
Of  late  years  there  has  been  a falling-off  in  the  style 
ofth  higher  grades  from  the  best  districts,  due  in  a 
measure,  probably,  to  the  diminished  demand.  It  is 
advisable  for  those  interested  in  the  business  to  see  that 
more  care  is  taken  in  the  growth  and  manipulation  of 
there  fine  teas,  in  order  to  maintain  the  reputa- 
tion they  have  enjoyed  for  m&Dy  years  in  the  consum- 
ing markets. 
The  increasing  volume  of  the  tea  trade  here  is  as 
follows  : — 
1882.  1888.  1889.  1890.  1891. 
Piculs. ..96,790  137,000  144,000  157,154  162,534 
— L.  and  C.  Express,  July  22. 
ORIENTAL  BANK  ESTATES  COMPANY, 
LIMITED  (MAURITIUS  AND  CEYLON). 
Under  the  presidency  of  Mr.  Alex.  William  CriobtoD, 
the  annual  general  meeting  of  this  company  was  held 
on  Wednesday,  27th  iDSt.,  at  Winchester  House,  There 
was  a fairly  good  attendance  of  shareholders. 
The  Chairman  in  proposing  the  adoption  of  the  report 
said  that  shareholders  would  be  glad  to  see  a net  profit 
of  £31,000  for  the  year  against  £28,000  tho  previous 
year.  Before  dealing  with  the  important  matter,  viz., 
the  effects  of  the  Mauritius  hurricane,  he  would  briefly 
allude  to  a few  items  in  the  accounts.  Taking  the 
balance  sheet,  the  increase  in  “ Sundry  creditors  ” was 
caused  by  an  alteration  in  the  method  of  financing  the 
working  expenses  of  the  Ceylon  estates,  drafts  being 
drawn  at  different  usances,  while  accounts  payable  were 
for  the  new  machinery  at  the  Britannia  Estate,  amount- 
ing to  £14,000,  payment  of  which,  however,  was 
to  be  distributed  over  three  years.  The  fine  central 
factory  now  erected  would,  however,  be  in  the 
future  a great  source  of  saving  in  expenses.  The 
remainder  of  the  items  was  composed  of  advanoes  by 
buyers  of  the  sugar,  which  had  since  disappeared 
from  the  accounts  with  the  sale  of  the  produce. 
On  the  assets  side,  it  would  be  observed,  thero  had 
been  a considerable  addition  to  the  block  cost  of  the 
estates,  an  analysis  of  which  was  as  follows:— 200  acres 
new  planting  in  CeyloD,  £2,000 ; buildings,  in  both 
Ceylon  and  Mauritius,  £6,000  ; tea  machinery  and  new 
plant,  £22,000  ; total,  £30,000.  As  regarded  invest- 
ments in  shares,  they  had  altogether  2,600  shares  in 
Mauritius  companies,  with  the  working  of  wbjol}  the^ 
