D 10
show an increase of 7,011 tons, or 7·8 per cent., while during the last five months a decrease of 4,001 tons, or 5·3 per cent., appears. This is confirmed by the fact that, on the outbreak of war the market in Manila collapsed, and all business came to a standstill. Later, however, matters improved, and by the end of the year the market had practically resumed normal conditions.
Kerosene Oil-Bulk Oil shows an increase of 21,328 tons, or 38 per cent.
Case Oil shows a decrease of 4,422 tons, or 9 per cent.
As explained last year, there is not very much significance in increases or decreases in either type of oil, so long as there is no large fluctuation in the joint total. During 1914, the market in both case and bulk oil showed a satisfactory rise, demand slightly increasing, with fair prices and freights, until after the war commenced, when sales fell 50 per cent. and, up to the end of the year, there was no sign of appreciable recovery. Freights rose, after the outbreak of war, from $4 to $10 per ton from the American Coast, on account of war risks, and the increased demand in Europe.
It is somewhat remarkable to note that, in spite of the above facts, the imports of case oil show a falling off, before the war, of 12,549 tons, or 38·4 per cent., while, since the beginning of August, there appears an increase of 8,127 tons, or 39·1 per cent. None arrived, however, after October, and that which came in that month was probably on the high seas at the time war broke out.
Stocks at the end of the year show a slight increase over those in January.
Liquid Fuel.-A very large increase appears here, of 23,263 tons, or 197 per cent., which appears to be borne out by facts. It is explained by the great increase in numbers of oil-burning steamers bunkering here.
Rattans. The reports here show a decrease of 2,100 tons, or 63·6 per cent., the greater part of which appears to be due to failure on the part of shipmasters to report this item of cargo. As a matter of fact, the market was normal up to August, after which it declined, but only slightly.
Rice. Also shows a decrease, which is explained in the same way. The figures I received indicate a decrease of 102,085 tons, or 13·8 per cent., but I find, on enquiry, that the imports were really about normal. Though the Chinese crops were good, there was a set back on account of the floods in the summer, and, Saigon and Siam rice being plentiful and cheap, there were large imports. The war does not appear to have affected the trade in any way.
D 10
show an increase of 7,011 tons, or 73'8 per cent., while during the last five months a decrease of 4,001 tons, or 513 per cent., appears. This is confirmed by the fact that, on the outbreak of war the market in Manila collapsed, and all business came to a standstill. Later, however, matters improved, and by the end of the year the market had practically resumed normal conditions.
Kerosene Oil-Bulk Oil shows an increase of 21,328 tons, or 38 per cent.
Case Oil shows a decrease of 4,422 tons, or 9 per cent.
As explained last year, there is not very much significance in increases or decreases in either type of oil, so long as there is no large fluctuation in the joint total. During 1914, the market in both case and bulk oil showed a satisfactory rise, demand slightly increasing, with fair prices and freights, until after the war com- menced, when sales fell 50 per cent. and, up to the end of the year, there was no sign of appreciable recovery. Freights rose, after the outbreak of war, from $4 to $10 per ton from the American Coast, on account of war risks, and the increased demand in Europe.
It is somewhat remarkable to note that, in spite of the above facts, the imports of case oil show a falling off, before the war, of 12,549 tons, or 384 per cent., while, since the beginning of August, there appears an increase of 8,127 tons, or 391 per cent. None arrived, however, after October, and that which came in that month was probably on the high seas at the time war broke out.
Stocks at the end of the year show a slight increase over those in January.
Liquid Fuel.-A very large increase appears here, of 23,263 tons, or 197 per cent., which appears to be borne out by facts. It is explained by the great increase in numbers of oil-burning steamers bunkering here.
Rattans. The reports here show a decrease of 2,100 tons, or 63.6 per cent., the greater part of which appears to be due to failure on the part of shipinasters to report this item of cargo. As a matter of fact, the market was normal up to August, after which it declined, but only slightly.
Rice. Also shows a decrease, which is explained in the same way. The figures I received indicate a decrease of 102,085 tons, or 13.8 per cent., but I find, on enquiry, that the imports were really about normal. Though the Chinese crops were good, there was a set back on account of the floods in the summer, and, Saigon and Siam rice being plentiful and cheap, there were large imports. The war does not appear to have affected the trade in any way.
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