614 
THE TROPICAL AGRICULTURIST. [March 1, 1902. 
'•THE PEARL OYSTER, NACRE AND 
PEARLS." 
A FRENCH WORK. 
VHuttre Perliire, Nacre et Perles. Par L 
G Seurat. (" Encyclop. Scient. des Aide- 
Memoire"). Pp. 194. (Paris : Masson et Cie.) 
Price 2 f r. 50 c 
This is a useful little book of close on 200 pages 
and a few illustrations in which the author— whose 
name was already known in connection with pearl 
oysters— has brought together the leading facts in 
regard to the molluscs, of both sea and fresh 
waters producing pearl and mother-of-pearl. The 
introduction shows that the book has been writ t p. 
mainly in the interest of the French nacre indus- 
tries, "which the author regards as of great national 
importance. Although London is at present the 
great market for pearl shell, we are told that 
" La France possfede, en efifet, les plus vastes 
bancs d'huitres perliferes et naeri^res qui soient au 
Monde, dans ses colonies d'0c6anie," and the 
author evidently desires to stimulate the exploita- 
tion and (iultivation of the French pearl industries 
at Tahiti and other Pacific stations. But still, 
the descriptions of animals and fisheries have been 
drawn from all parts of the world, and in fact 
most attention is given to the oyster (Meleagrina 
fucata) of Ceylon and British India on the well- 
known banks of the Gulf of Maiiaar. 
M Seurat points out on more than one page the 
gaps in our knowledge of the nacre-forming mol- 
luscs, and wisely insists upon the necessity of a 
thorough examination of t he structure, life-history 
and habits of the Meleagrinas before it is possible 
to establish a rational regulation of the fisheries. 
The scope of the work may be gauged by the 
following summary of the conteuLsof the chapters : 
Anatomy and biology of the pear! oyster and of 
other molluscs that produce peails or nacre ; the 
pearls, their position, structure, chemical composi- 
tion and experiments as to their production 
artificially ; the fisheries both in the sea and also 
in the rivers of Europe and America; commerce 
and industries; and finally, pearl-oyster cultiva- 
tion. In his conclusion our author sums up that 
" l'ostr6iculture perlidre est une chose possible, 
qui est susceptible de donner des ifesultats parti- 
ques," and draws a rosy picture of the prosperity 
that would attend the lagoons of Tahiti under a 
rational exploitation of this new industry. So 
may it he. — Nattire, Jan. 23. 

THE RUBBER MARKET AND 
PROSPECTS. 
(Krarich's Annual Review for 1901.) 
During 1901 the rubber market has not been 
characterised by heavy or exceptional fluctuations ; 
it was again not a i)articularly satistactory one 
for holders and importers of the leading grades, 
and although trade remained exceedingly active 
throughout the year, the values of all grades ol 
rubber at the close are less than a year ago, and fine 
para shows a further recession of 3d per Ib.and other 
grades in proportion. The bulk of the stocks of 
Mediunis have gradually been exhausted, although 
it must be admitted that the prices realised were 
exceT)tionally low, and showed an enormous loss 
lo the im|)oi t(?rs or lioldei.*, and even the more 
recent imports were disposed of at prices realised 
show a considerable loss. The imports of im- 
portant Medium grades have fallen off consider- 
ably, and as the enquiry has increased for same, 
we do not anticipate a further appreciable decline 
in values, and one ought certainly to advocate 
the encourageirent of a substantial increase in 
the imports. 
As regards the quality of Para rubber, con- 
siderable grievance was again caused by the want 
of care in the proper selection of these grades, 
especially from the Island districts, aud this has 
led to numerous disputes amongst contracting 
parties. Trade in Great Britain and with 
leading Continental rubber works was fairly good 
and the stocks of raw material at the factories is 
not large, and in spite of the fact that deliveries 
have been exceptionally heavy, the reported con- 
sumption of fine Para exceeds thdt of previous 
years. The American market showed the posi- 
U(m there not to be so strong except for the first 
few months, but, eenerally speaking, the rubber 
trade has been busy, and the only important 
speculative stocks are held by one leading Ameri- 
can house, whose position at the close of the year 
was considered very precarious. Visible supply 
now of Para and Peruvian is 4,618 tons, against 
4,100 tons last year. This includes America, with 
a stock ol 2,005 tons, against 1,200 tons last year. 
Should the demand for Para rubber continue 
good, the statistical position at the end of 1901 is 
certainly a very healthy one. The total for the 
year's crop (from July 1st to December 31st) 
amounts to 13,680 tons ; this means an increase of 
2,400 tons, while against this total increase of the 
visible supply gives us only about 480 tons. Thus 
about 1,920 more tons have gone into consumption; 
this despite the fact that it is well known that 
the "invisible" supply is exceptionally small. 
Although grave financial difficulties were ex- 
perienced by many holders of rubber, the position 
of the rubber market is fairly sound, and with 
constantly increasing consumption, rubber must be 
considered very reasonable at present quotations. 
Paba Kinds. — At the beginning of the year we 
had to record a brisk enquiry for para grades, and 
business on a large scale resulted, but, owing to 
continued " bear" operations, prices quickly ex- 
hibited an important recession, aud while hard 
fine Para was quoted at the beginning of January 
at 3s lO^d, soft at 3s 9d, negroheads, scrappy, at 
2s 9id, Island at 2s Ifd, Cametas at 23 4d, Peru- 
vian ball at 2s Tjd, and slab at 23 2d, prices 
declined rapidly during the latter portion of the 
first month, and sales for forward delivery at a 
marked decline were done on a large scale, with 
the result that prices for Para grades receded 
about 3d per lb by the end of the first three 
months. In America fine Para was then sold as 
low as 3s 6d, scrappies 2s 6J, Island Is lid, ball 
2s 4d, and slab Is lid per lb. We then began to 
receive the firs.t advices from Para of probable 
short receipts, and some important buyers, partly 
relying upon these reports, bought large quantities, 
thereby causing considerable briskness ; this im- 
provement was actively maintained for a few 
weeks, and as high as 8s lOd to 3s lid was paid 
for fine during the middle of April. Other 
sorts were 2d to 3d per lb dearer. Soon afterwards, 
however, the market again showed signs of weak- 
ness, the demand being somewhat dragging, and in 
July hard fine was quoted at 3? 8d, soft 3s 6J, but 
a temporary reaction in August resulted in 
quotations again reaching 3s 10<1 to 3s 9d. We 
have then had irregular declines of 2d per lb, and 
in November hard fine was as low as 3s 5fd, 3s 3id 
the lowest of the year. Additional cable advices 
