As in Cotton, this increase is due to errors and omissions in the ship masters' reports in 1913. From enquiries made, there was actually a falling off of 16,713 tons, or 15.4 per cent., the reasons for which are directly due to the war.
It appears that the bulk of the imports arrive here in the later months of the year, shipments in large quantities commencing from America in August. This year, on account of the war, the demand for flour at the seat of the war was far above the average, with the result that prices soared to unprecedented heights. One brand, whose usual price is $2.30 per bag, now fetches $4.10. At the same time, freight doubled. Before the outbreak of war, imports were above the average.
Hemp. Here is shown an increase of 3,010 tons, or 17.3 per cent. It is possible that these figures approach the truth, as, during the first seven months of the year, conditions were very favourable to the trade, prices and freights ruling low, while in 1913 prices were very high. During these months before the war, the figures 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 51.3 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., while 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.-There is a very large increase of 23,263 tons, or 197 per cent., which appears to be borne out by facts. It is
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As in Cotton, this increase is due to errors and omissions in the ship masters' reports in 1913. From enquiries made, there was actually a falling off of 16,713 tons, or 154 per cent., the reasons for which are directly due to the war.
It appears that the bulk of the imports arrive here in the later months of the year, shipments in large quantities commencing from America in August. This year, on account of the war, the demand for flour at the seat of the war was far above the average, with the result that prices soared to unprecedented heights. One brand, whose usual price is $2.30 per bag, now fetches $4.10. At the same time, freight doubled. Before the outbreak of war, imports were above the average.
Hemp. Here is shown an increase of 3,010 tons, or 173 per cent. It is possible that these figures approach the truth, as, during the first seven months of the year, conditions were very favourable to the trade, prices and freights ruling low, while in 1913 prices were very high. During these months before the war, the figures show an increase of 7,011 tons, or 738 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., while 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 sigu 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.-There is a very large increase of 23,263 tons, or 197 per cent., which appears to be borne out by facts. It is
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