New-York tribune., 1918-06-03
ReAexes Of War

There was very large increase in
Chinese shipments of rice to the United
States in 1917, compared with previous
years. These shipments have extended
in ever increasing ratio during the cur
rent year, and present indications are
that the years record in this line will
exceed anything of the kind ever
known Declared exports of rice from
Hong Kong to the United States for
the first quarter Of the current year
amounted to $1,000 short tons, valued
at $4,219.786 (goldD, as compared with
25,647 short tons, valued at $1,413,998,
in the first quarter of 1917. Whereas
much of the former shipments Of rice
from this market to the United States
was for transshipment to Mexico, Cen
trail and South America and the West
Indies, practically the whole of it is
now going to the United States for
American consumption.
Owing to the influence of the war,
Japan's industries have enjoyed great
prosperity, but of late there have been
indications that a setback is occurring,
owing to the high price of coal, ad-
vance in wages, increased freights,
scarcity of tonnage and restrictions
of trade by the Aires. There has ac-
cordingly set in tendency for the
dividends of industrial companies to
decrease, though there are some COM
panies which continue to enjoy re-
markable prosperity.
The high price of coal and the short
age of ocean freight space have pro-
duced condition in Egypt under which
cottonseed oil cake is being used as q
substitute for coal as fuel. The crush
ing industry in Egypt produces a maxi
mum of about $4,000 tons Of cotton
seed oil cake annually, for which there
is no local consumption. AS the result
of a lack of shipping facilities, large
stocks of cake accumulated in Egypt.
The high price Of coal, coupled with a
desire for economy in it's use, induced
experiments with local products as a
substitute The relation of the calorifc
value of cake to coal was found to be
one and three-quarter tons of cake to
one ton of north country large coal.
about $50 ton. The price of oil cake
has been fixed by the government at
various times during the last two years
at a figure ranging between $3.50 a
ton and the present price of SIS. Cake
is now being largely used in place of
coal in boiler plants, in hotels, restau-
rants and private houses. Dealers and
stores, it appears, are not detrimentally
affected through the burning of cake.
One large concern saves two men on a
boiler in burning cake instead of coal.
Cake ash has value as fertilizer of
about $25 a ton.
The report of the Netherlands Bank
for the business year 1861 COM
ments particularly upon the continu-
GUS movement toward bank concentra-
ton. Several of the we'll established
Dutch banking institutions have in
creased their reserves and capital in
order to enlarge their activities. Ac-
cording to this report, the capital in
ccreases alone amounted to $21, ,7O8, 900.
warning is issued against too great
extension in banking activities. The
bank service of the Netherlands is
very old and conservative and cannot
change very quickly. All of the larger
banks are trying to correctly judge the
financial tendencies of the times and
to guard against overspeculation.
Following the increasing investment
OF Japanese capital in Philippine agri-
cultural industries it is announced that
Japanese bankers and insurance COM
panies are to open branches Of their
business in the islands. Quarters in
Manila for the branch of the Yoko-
hama Specie Bank have already been
arranged.
The British Minister Of Munitions
has ordered that from June l no am
moniacal product shall be produced,
except under license. This does not
apply to crude ammoniacal liquor or
sulphate of ammonia The order pro-
vides that from June l no ammonia
or ammoniacal product other than
crude ammoniacal liquor or sulphate
OF ammonia shall be supplied to any
person except under license. All pro-
ducers and dealers are required to
make returns respecting their busi-
ness.