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sugar and artificial silk yarn, the substitution of foreign goods by native products transported overland from Tsingtao or carried by steamers from domestic ports, the unfavourable exchange rates of the Japanese yen, and the unusually cold weather in the early part of the year which kept the harbour frozen up to the middle of March, while the quantitative decrease in the shipments of vermicelli to Hong Kong is responsible for the shrinkage in the value of exports to foreign countries. The value statistics for the trade of Lungkow in so far as they are now recorded by the Customs were as follows: direct imports from abroad, $2 million as against $2.8 million in 1935; coastwise importations of Chinese merchadies, $5.5 million as against $6.3 million: direct exports to foreign countries, $2.6 million as against $3.3 million; and coastwise exportations of Chinese merchandise, $3 million as against $2.7 million. These figures do not by any means represent the value of the whole trade of the district, as quite a lot of goods cama by ether trucks or mult carts. Taking the above statistics as they b stand, however, a, decrease of 20 per cent was registered for the total value of the direct importations froma broad. Cotton piece goods, coal, timber, bicycle parts, artificial silk yarn, metals, and sugar were amongst the principal commodities contributing to the general decrease under this heading Direct imports of Japanese cotton piece goods! were valued at $10,000 as against $60,000 in the preceding year; the market for these goods is said to have yielded to the increased arrivals of native goods from Shanghai and of Japanese products transported overland from Chefoo or Tsingtao. Kerosene oil was. maintained fairly steady at 1.2 million litres as against 1,3 million litres in 1935, the principal suppters being the United States of America and Japan, Products of the Asiatic Petroleum Company also arrived, but, being interport movement of foreign goods, did not appear in the Customs statistics. As a result of the smaller quantities seized;irefined sub dwindled to 4551 quintals, of half of the preceding year's record Due to the high cost of beancakes, sulphate of aminonia of British, Japanese and German origin found a favourable market and rose from 6,577 quintals in 1935 to 35,545 quintals. The embargo enforced at the Manchuriai ports and the competition of cheaper Fukien softwood stakes were the factors that brought a decline in the importation of timber from Antung. Fushun coal was eolipsed by native Tatung ( ®)} and Kailan coal! Of exports staples, shipments of vermicelli to foreign countries (principally Hong Kong) receded from 80,064 quïntals in 1935 to 63,060 quintals, but the trade in this mainstay of Lungkow. was repórted to be the best for many years, as Hong Kong prites soared from $36,30 per quintal in the beginning of the year to a high level of $42.90 at the close. Inspired by favourable prices at Shanghai and elsewhere, the statistics for coastwise exportations of this, commodity show a lo quantitative increase of 7,581 quintals to a total of 101,006 quintals. Shipments of liverd cattle to Dairen, for subsequent transhipment to Japan in cold storage after being slaughtered, reached another high record at 3,738 head this together with logs and joss sticks were the only export staples to do well during the year. Fresh apples, Chinese pens, straw hats, and fresh vegetables all made poor showing, due either to high prices at Lunkow or to competition of similar articles produced in Manchuria The duty-free treatment accorded to coast wise movements and the reduced export tariff rates did not give any impetus to the export trade of groundnut oil, owing to failure of crops at Chaoyuan (The Ling Lung Gold Mine Joint Stock Company, Limited (RA) in the Chaoyuan district, situated some 30 miles from Lungkow, was re-organized as a Sino-Japanese enterprise in May with a total capital of ' $1,400,000. During the latter half of the year mining machinery, electric generators, and light rails of a total value of $200,000 were imported from Japan via Dairen and Lung- kow. A branch office of the Bank of China was established on the 1st September, its chief business being to extend credit to vermicelli merchants. With two banks of good standing functioning at the same time, the financial stringency obtaining at this port has been much relieved. Among shipping incidents may be mentioned the stranding of the s. s. Peichin on an uncharted rock near Shihhutsui, the capsizing of $., S. Wantai in Dairen Harbour in April, the foundering of s.s. Pingshun near Port Arthur, and the, damage done to a number of
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result of a heavy gale. Restriboats and cargo, at Lungkow in November as the
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on to Manchuria and the competition of junks and motor roads continued to be the chief grievance voiced by the shipping companies at Lungkow, and a downward trend was revealed for all flags. The revenue of the port decreased by 27 per cents when compared with the record figure of the previous year. Of the total collection, 3 per cent was contributed by seizures and 22 per cent by the 13 Martime Customs stations under Lungkow control bazen wol wath to open a