A WEEKLY RECORD OF TRADE AND FINANCE VOU X RIO DE JANEIRO, Tuesday, April 23rd, 1907 No. 17
BALDWIN LOCOMOTIVE WORKS, Philadelphia,a (Established Penn. (Established 1831) BURNHAM, WILLIAMS & CO, Proprietors. 1831)
i«««m«tiv« to every variety of service, and are built accurately to standard gawges and TWfin ensines aro adapted Passenger and Freight I^omotives, tempK. íjke parTS StiSS&SiNnff «f sam/class perleetly interchangeable. "a"&2Stf££2t£?%.S,?ta? S&iãZyu SS? HeeSS, b, O» BaIdWin-WeStt»gl.»«Sc C.mb.n»ti.n. of custoniers. AU Work Thoroughly Guaranteed. Illustrated Catalogue furnished ou application «te CO Ld., 58, RnaPrimeiro de março, FCio de Janeiro Sole Representatives in Brazil: 3NORTON, MEGAW || THE WESTINGHOUSE AIR BRAKE COMPANY, Pittsburg, PA., U. S. A. Manufacturers of the WESTINGHOUSE AUTOMATIC BRAKE
house Air Brake Co. is prepared ¦ Sole Kepresentatives in Brazil: - NORTON, jyiEGfíüü & CO. jj'Dh RUI PRIMEIRO DE MARÇO NO. 58 Rio de Janeiro «^^M^^—Q--j - _ I Éf-J #\ 1 BORSIG BERLIN -TEGEL ESTABLISEED — 1837 2 Granas Prix 20—Highest Awawls ííarròw -^ * -nwio-litf Locomolive Enffinea adapted to every variety of service, for standard and gauge.
Resident Emrineer in Rio de janeiro CAILLER c. e. ALFRED V ^A,>P1irATiow 59 j^kjjtlRUA DOx^w CArtMO-P. O. BOX 911 III LSI KATED TATALOGIJES ON APPLICATION ogr,
Tlie Best National Mineral TaMe-Water A ^ _—. — Recommended as the Ideal Digestive Water
Sole Agents CO CITO IRMÃO & Co. SÃO PAULO Rua da Estação No. 23-P. 0. Box 275 RIO r>J£ JANEIRO 67 - F, 0. Box 70« PRAÇA TIEÀDENTES No. j£^ "*- ^*y üksk&ímhs&S :iW^;V*>;*«' M~SSB~Bm~SSM ^^^^Mmm&ZZMS^Mi MÊÊ^ê L RANARSES, UlITEO Telegraphic Address "Epidemia" These Mills are the LARGEST in the SOUTHERN HEMIS- PHERE and are fitted throughout with the most MODERN Post Office Box N«. 486 MACHINERY. For the superiority ot their flours they were award- Mills. Rua da Gamboa, No. 1 ed a GOLD MEDAL at the PARIS UNIVERSAL EXHIBITION HEAD OBB1CE: of 1889 and the "FIRST PRIZE of BRAZIL" at the ST. LOUIS London : 48, Moorgate Street, E. C. EXHIBITION oí 1904, the brands of same, which are duly BRANCHES: Commercial, are as follows : 8. Paulo 4, Rua da Quitanda. registered at the Junta Rosário: 1075, Calle Santa Fé. ".NACIONAL" a SAVOIA 9. Buenos Aires: 335, Calle B. Mitre. "BÜDA-NACIONAL" "BRAZ1LEIRA" "SE MOLIN A" A GENCIES: Victoria, Bahia, Maceió, Pernambuco, Daily production oi Flour and Bran: 10,000 Bags Ceara, Maranhão and Para Curitiba, Desterro,llio Grande, Pelotas Rio de Janeiro and Porta Alegre Office: 57, Rua do Rozario,
LIDGERW00D MANUFACTÜRING COR/IPAMY LIMITED
MANUFACTURERS AND IMPORTERS
Of Cableways, Derricks, Hoisting Engines, Steam Winches, Fixed and Portable Engines and Boilers, Pumping and Excavating Machinery, W. 1. Piping, Black and Galvanized, Contractòrs' Supplies. Extensive Local Works in Brazil for convenience of repairs etc. AVENIDA CENTRAL No. 39
' ç^h A[I Suffolk House, 5, Laurence Pountney Hill London E. C, ENGINEERS, MERCHANTS
~ AND
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-FOUNDATION >> TELEGRAPHIC ADDRESS LONDON
RIO DE JANEI
^JpC^ ^^HBsajs^ "Fry" (_# Teleí![rains. R 1.° DE IVIfl^ÇO, 73 0. Box 211
Bahia—JSlatJiai} & Co. Pernambuco - fiathan Caixa do Correio, 157. — "NATHfllN." — Telegrams : BAHIA 0- do Correio, 118 —Telegrams: "MTHAN."—PERNAMBUCO. ,Y, LIGHT AND POWER COMPANY. LIMITED HEAD OFFICE, TORONTO, CANADA - NEW YORK OFFICE, 35 BROAD ST. SAO PAULO, 7 RUA DIREITA RID D3 JANSIR3, 76 AVENIDA CENTRAL The city of São Paulo, which is the capital of the State of São Paulo, Brazil, is situated in the valley of the Tietê River, 800 msters above the sea lavei and 35 miles from Santos, the sea port of this State. The climate is delightful throughout the year, rksumbling very closely that of Southern Califórnia. São Paulo is a city of 300,000 inhabitants ani may easily be seen by travellers touching at the ports of Santos or Rio de Janeiro, the journey from S intos to São Paulo by railway taking 2 hours and from Rio to São Paulo 12 hours. On account ofthe natural resources ofthe State of São Paulo and owing to its peculiar location, the City of São Paulo is one of the most important commercial cen- ters in South America.
THE SÃO PAULO TRAMWAY, LIGHT & POWER CO. LTD. operates ali the tramway lines in São Paulo and supplies ali the electric light and power. Electricity is developed hydraulically, utilizing the falls of the Tietê River, some 3> kilometers below the city. 12,000 H. P. is developed there at present and works are now in progress for a large increase to the plant to enable the Company to meet the constantly increasing demand for power. Four distinct circuits on two separate steel pole lines convey the current from the Power House to the Substation in São Paulo where the current is converted for tramway, light and power uses.The Company operates 125 kilometres of track, covering the entire city. The population ofthe city being largely Italian good labor is readily obtained. This and the cheap rates for power is causing many new manufactories to be built. Information concerning the resources ofthe country and that relative to the establishment of new industries, prices for power etc. can be obtained by application to any ofthe offices ofthe Company. nwitasf* nõatm THE ROYAL MAIL STEAM PACKET COMPANY (INCORPORATED BY ROYAL CHARTER IN 1839) WEEKLY SAILINGS TO EUROPE AND THE RIVER PLATE Tons Tons Tona Tons Araguaya. 10,500 Aragon 10,000 D.mube 6,500 Clvde 6,000 Amazon... 10,000 Nile 0,500 Thames 0,000 Magdalena 5,800 Tel. ROYAL Rio 1». O. B. SI Ageney: 73, RUA Io DE MARÇO E. ü. HARRISOH- Agent.
RUA DO AQUEDUCTO No. 108—SANTA THEREZA
«10 DB JANEIRO—Telephone No. 134. 1,000 FEET A BOTE THE SEA. Telegraphic Addffess--MENTGES—RI<*.
Splendidly situated on one of the Mghest poínts and in the healthiest part or Rio, thus assuring geod air and comrnr.nding the MOST MA- GNIFICENT VIEWS. Highly rcommended FIRST-CLASS AND OLD ESTA- BLISHED HOTEL FOR FAMILIES AND TRAVELLERS. The rooms are fresh, airy and quiet. Baths: plunge and shower. ¥^-My0V"-'^?\ ^^J,';-'_r'$$ \y t*j_>_t^^7> Xoted for excellent cuisine and its well-selected wiaes. Rpecialities: LIQUEURS, WHISKY, COCK-TAILS, BEERS *and refreshing drinks of the best quality Ali meals served at separate tables. Spacious dining, music, smoking aiul BILLIARD7ROOMS. —service ROOM FOR BANQUE PS, BALLS, etc. de luxe, LIBRARY with ali the GARDKinS. principal newspapers. Electrie-Trams pass tlie door every 20 minutes. Proprietor, FERDINAND MENTGES.
at Rio, to see to the leggage and eonaferô, N B - A Represbntative meets ali the passenger steamers arriving guests' seívicésof interpreteis or güides-beingiherefore^unecessary. !j*í and personally conducts thejn tofhe Hotel, the T qj^^s''v'Ç?feJtVTT;?'*'''''.ll"'*'
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USEM AS
CHARUTARIAS NACIONAL BRAZILEIRA | l^^â^'í^;pBtoÍ*-:'" de iP y^m^-:c::: PBOSPHOBCS de SEGURANÇA soaswm 8t C'.A s,; paülo ^^ft»KB^i.:'y-'-r ' .^i-lih.:'.* ..BRITTO - -1- - ..._ -::'.l.J^^^-_/.t. -...-..».. ¦ t0áâ| SOCIETE FINANCIERE ET COMMERCIALE FRANCO BRESILIENNE Succs: of NATHAN & CO. S. PAULO, Rua de S. Bento 43, Caixa do Correio (P. O. Box) K. Telegraphic Address: *»LUPTOJS" SANTOS, Rua Quinze de Novembro 13. Caixa do Correio (P. O. Box) 147 Telegraphic Ari «Ire* n : "WYSARD" IMPORTERS, EXPORTERS, JkJST> GENERAL MERCHANTS
£^è. Ttgg^ 4)mmm% ^S^ ^^ ^^ - SPECIALITIES: Cement, Belting, Paints, Railway Material, Calcium Carbide. Agricultural and Industrial Macliinery. Sole representatives in the State of São Paulo OF General Hardware, Gas and Water The Standard Oil Co., Pipes and Fittings. OE NEW YORK Iron, Steel, Gopper, Brass and (Thompson k Bedíord other Metals. Department.) -#>¦ ^-4i^-#>- CATALOGUES REQUESTED HEA? OEEXCE IN PARIS: RUE CHAUCHAT No. m to act^pt solt Apares In the BM® ©f São fml% #i' 3Hi« rtòlimt mm K '17;'lp "* VOL. X RIO DE JANEIRO, TUESDAY, Aí>ril 23rd, 1907 No. Offices: Rua Visconde de Inhaúma No. 42 "REVIEW" P. O. box. 472, Rio de Janeiro Telegraphic Address — — Riojaneiro EDITOR-MR. J. 1». N II_I_n AX MANAGER— JIR. W. G. 1IIAIN.< KI.I.OR Subscription 60$ per annum. Payable abroad by sight draft or cheque, crossed British Bank of South America, at the rate of exchange of lfíd. to the milreis as follows : — £sterliug. £ 4.0.0 | Pesetas 100.00 | hire 100.00 Francs. . 100.00 I Reichmarks. M 80.00 | U. S. Gòld Dollars. l 20.00 Separate copies i$2oo | _b$íie_k numbei'8 , 2$OOG Bio de Janeiro — Crashley & Co., rua Co Ouvidor 36 São[Faulc — C. Hiléelrand & Co., rua 15 de Novembro 40 I oitdon — G. Street & Ce. Int.. < cniliill 30 Annouucements of births, deaths and marriages concerning subscribe. s and friends are inserted in this "REVIEW" free of charge WESTEWTOLEWWJ OOMMNr ^«^ i_J_7tí*~^*__ Jltí? AND ALÜED TELEGRAPH COMPANIES. ^á3%i\ DIRECT CABLE ROUTE TO EUROPE, NORTH AMERICA, ÁFRICA, ÁSIA and OCEANIA, *lso with URUGUAY. ARGENTINA, CHILI, PERU,BOLIVIA AND ALL PARTS of BRAZIL. * CMILE STATIIOWS ______ ______* TÂEiUFE- *"... LONDON, LISBON,MADEIRA,ST VINCENT,.CdeV). PARA, MARANHAM, CEARA, PERNAMBUCO, GREAT BRITAIN , FRANCE, GERMANY, RIO DE JANEIRO, SANTOS, fc. 5 00 BAHIA, ______[___¦ ___r * «____k_i______É l_V. \ HOLLAND, BELGIUM, DESTERRO, RIO GRANDE DO SUL, PORTUGAL, fc 5 45 à fl ^_Jt'lRpO J_5>STPt-RSBURO *^\ MONTE-VIDEO, BUENOS AIRES, M ^»#jK_^^B ____K* lBl_____L<^__0_S __^ É _3___i^^ B_____Sff_sSf*í» ^__ SPAIN,, . 5-35 # ______I ^__i __P______I P_5_í__í_f!Sr_{_—v»c"«i.t» m fc ROSÁRIO DE SANTA FE*, MENDOZA, feínw*/ vJi vimB_~_i h uiiH.«vwy03m\vQ,%\**''L.+ j jmi_r ____ _r ___h ______ M _n*>%_^^_ t^__t^_r '^___H_____P_____p_£_7______í._»mmmmwmWy4KRtmWM>9io;!^i*\íV^_25~<"<______f__r ______ITALY, fc. 5-30 fa o* ______fll. ______^___> «••• *°* jpOLLENDO, CALLAO, LIMA. SENEGAL, Fc 6-^5 v______ki ^^^S90v__^WB___v>ç «^S--»* **""••*vi ____l_i _Pt CANARIES, Fc 5-95 m\m\mmW \~ffi *¦¦ __Pjfl_ ¦ _r 'o-^rm^^^m^^^m^^X^mmm^mmmmTmmm *>]9aV_||9___!SM i8íMESSâ£^ !______^'_>__Xr^ ___j» wl!¦ WwT^I_K¦» AGENCIES. ____r ____*"' _HA____KCA «mim.^uc <9!S H_| « ^ / CAPE COLONY, Fc 7-5|| MONSIEUR JULES DESPECHER, ÍNDIA, Fc 7-5 AVENUE MARIE 61, THE CABLE CHARGES TO ALL PLACES tf) ANTWERP. BRA2IL, URUGUAY, ARGENTINA, CHW, PERU, AMO BOLÍVIA, ANO OTHER f>ARTS Of THE \MORkD S, RVE HENRI MAUS(B0URSe11 CAN BE OBTAINED UPON APPLICATION Af THE COMPANY^ STATIONS^ BRUSSELL3. BRITISH INSULATED AND HELSBY CABI.ES LIMITED WORKS: — PRESCOT, HELSBY & LIVERPOOL, ENGLAND . m SOME 0F THE LARGE CABLE C0NTRACTS CARRIED OUT ÜDdeifeiound Ry Co. of _London.. £ 230,(100 Metropolitan EJeetriv Supply Co. £ 334,000 Dublin Corporation. £ .70,(100 In-íidíord Corporation £ 205,000 Melbourne & Sydney Corporations £ 77.DIIO Miilhiiid Electric Power Co £ 146,000 Sole A*£-eiit for Uríizil a S' L« F MÇLAUCHLAN M.. I. E. E. RÜfl DR 39, 1° andar Rio de Janeiro QUITAR «*«E_\€ASTRO" CAIXA DO CORREIO 455 Tclograiíis Rio ' * • .•'.'" ¦' yríÉ '¦-: ¦ *- ¦;- X?i' l_M_-MUJ>MN-aMM-M. 2'òrd 1907. 4Õ4 THE BRAZILIAN REVIEW [April , IJ NOTICE An action of Multiple-poinding and Exoneration í\\t has been raised in the Court ot Session at Edinburgh, Jlw|itkii Jjwuwi Scotland (First Divlsion, Lord Mackenzié Ordinary at the instanoe of Micháel Honeyman, Advertisements Mr. Moir Clerk) ©cale of Cliarges for sometime Accountant In Glasgow and now residing 1 £;==- 16$Ò00 at 59 Hamilton Drive Hillhead, there and Andrew son, Ohartered Accountant in Glasgow the I_í ORDINARY POSITIONS Williani: Truatees acting under the Trust Disposition and Deed of Settlement and Deed of Appointment of the late 52 Insertns 26 Insertns 12 Insertns 6 Insertns S.ngle Park. SPACE Insertn Miss Jane McGrouther who resided at 3 South Ter Inseriu Per Insêitii Per Tn.serti\ Per Iusertn 1890 and s. d. Terrace, Hillhead Glasgow, date Sth June £ s. d. £, n. d. <£ s. d. £ s. d. £ 1894 ¦ '1 0 0 õ 10 0 two relativo codicils datecl respectively 18th June O no Pago 8 10 d 0 0 10'0 õ Books of Half Page 1 15 0 2 0 0 2 6 0 2 10 2 lõ 0 and SOth Novémber 1S98 ali registered in the Third Page l 4 0 17 0 1 10 0 1 1_ 1 17 0 Council and Session 8th December 1903. Pursuers Quarter Puge... IH 0 i 0 0 1 8 0 L 18 0 Reverem! John Biddell 0 õ 0 b í. (.. and Real Raisers; against The 1/2 inchx8 inch 4 '_' •J/2 inclixi inch 2 0 G 3 0 0 B. A ., Minister of the United Free Church òf Scotland, 17 Bruce Road, Pollokshields and others. Defendera Tlie 52 and 2G Feries Ralestes are for Consecutivo Insertions. having ieferenee inler alia to a direction by the Truster to her Trustees— " to hold and apply the sum of £1,000 12 or G insertions are quoted for upon the understandiug that the adverti- for or charitablepur- seinent upptmrs at least once a mouth and the interest thereof religious in connection with Rio de Janeiro as to my said poses " P0SÍTI0NS BY ARRANGEMENT Trustees may seem best and tlie said Lord Oídinary SPECIAL action l>e mind that the has the following interlocutor in said In preparlng Blocks for A .v. rtiscinciits it should bprné in u19thpronounced BU-fac.e available for pi.Ii.tj._g in a whole page of dlsplay is as follows :— - March 1907. Lord Mackenzié. Act Macmillan, '•! Front Pageof Còver inches by 8 1/4 inches Alfc ,- • Back of Cover æ 12 1/2 7 1-/2 » " The Lord Ordinary finda the Pursuers liable,i in his ide oi' Cover 12 L/2 ª 71/2 » intimation of Oídinary Inside Pago 12 ª 7 1/2 > only once and siugíé payment; appoint the depehdai.ee of this action to be made t.wice in the — Brazilian Review, MAIL FIXTURES following Newspaper viz, The Rio dé Janeiro, in order that ali parties not,otherwise cited may enter appearance by the Í9th- day'óÊ June COMPANY nrc.HT IN ATION N A M IC 1907 ; Appoints ali parties claiming an interest in the . fund ío loclge their Condescendences and Claim by the KO.. ICUItOPK said 19íh June 1907." ' >- April 2i\Clyde Royal Mail Southanipton C. Kincaid Maclcenzie.11 May 1 I Chili Messageries Maritimes Bordeaux (signed) 11 Nile Royal Mail Southairipton Of ali which intimation is hereby made 2 Grita P. S. N. C. Liverpool 8 | Aragon Royal Mail; Southampton Cl-AKK & MACDONALD, 1-11 Oravia P. S. N. C. L'verpoc.1 lõí iMagellan Messageries Maritimes Bordeaux Agents for Pursuers and real raisers. 2".; Ai agitava Royal Mail Southanipton 22 I Esmeralda messageries Maritimes Bordeaux 24Hill Street, 29 Danube Royal Mail Southanipton Edinburgh, 2Gth June 1907. 2.9 Aniazone Messageries Maritimes Bordeaux 30 Oronsa Y. S. N. C. Liverpool June 5| Amazon Royal" Mail Southanipton 11! Thames do do NOTICE TO TRAVELLERS 11 j O ria na P. S. N. C. Liverpool f Under this heading we publishéd a few weeks ago a state- RI V ICIt IM.ATIC AND |-AI'I Hl ment that if unusedclothes were not declared by passengers for April 2b|.Í/ffj'í//«M Messageries Maritimes B. A. Brazilian ports they would be liable to the respective duties.and May I O/ /'..//./ P. S. N. C. Valparaiso a tine of four times the value of the goods. This was incorrect 5 Ai agitara Royal" Mail B. A. hints from the 12 Danube do B. A. and. we now give the following to passengers 18 A in az o ne Messageries Maritimes B. A. regulatious issued by the Rio Custom House. 15 0/ ?iia P. S. N. C. Valparaiso . By "'luggage" is understood : — li' Amazon Royal"do Mail B.B.A. '-!(. Thames A. a) usedclothes. Juno '.' -7.A. do B. A. b) instruments and other articles of daily use or profes- 0 A7/V do B. A. sional use of passengers. KOK l.N-TICt. STATKS c) trunks, hand bags, and holdalls used during the voyage. '.\\ May Tennyson Lamport Holt New York d) Personal Jewellery. 8i Canuing do © do Every must give a signed declaration to the Cap- '_!'J Yihcspis do do passenger ¦Hino li' />_) 'on do do tain of tlie vessel stating the contents of every parcel contam- ing merchandise or goods for sale and articles not intended for PATEK, PHILIPPE AND CO. coinmerce and give the marks, nunibers, addresses etc. ofthe packages. This declaration if not made on board must ba THK m.ST WATCU IN THIÍ WOULD made on shore to the Custom House Oíficer before the luggage SOLE AGEiSrCY FOJft BRAZIL is examined. This declaration on shore may be made verbal.y. Jhíeiojo-tria GONDOLO-71 Rua da Quitanda If this declaration is not made a tine of double the import 27-12-65 A duties will be imposed plus 10% ()U the same duties if goods for Pfc_B___tKBMBB-^_-_-_-----m .AJl our t>oots are made of leatliers specially prepared for* use iu tlie tropies. -¦?'> Tliey are light in ^velglit, clanrp proof and of great Agents in ali tlie principal cities oí Brazil WÊÊmk RUA DO OUVIDOR 67 B-Rio de Janeiro WÊmWk WmÈmk PRAÇA DR. ANTÔNIO PRADO, 1 — São Paulo ÉlÉlfell...... , ^^few^L RUA FQRMOSÀ, 31—iSalxia FACTORY—RUA DA MOÕCA, 131 —SÃO RAULO Footballs, Football Boots, Tennis Shoes April 23rd;i907] THE BRAZILIAN REVIEW 455 Wanted to form a Syiidicate or Company to take up and utilisé an To Investors and Capitalists; Invention for the Chemical Treatment of Wood, It is a perfect pievention against lhe attaeks ofANTS and similar destructive insecls and. also the TEREDO and other marine insects. The process is entirely new and (lie installation is not expensive. ADDRESS : JONN 18. BLCIfiAlX, Casula, de Corrco Ko. 1671, Buenos Aires, Ai-gentiue Republic. •^¦BBa^KaagaaepBBiBBBMaiiBMM^^ a— ii L ¦¦¦¦¦¦¦¦¦¦¦¦iMm .sale are found, A tine oi'from 2$500 to 50!í>0Ü0 will be imposed The Directors state, however,that the increased receipts are for each paçkàgc containing smaller articies. not due entirely to the large coífee crcp but also to a larger Packages containing merchandise exclusively will go number of passenger carried und greater import goods traffic. through the usual despatch procedure at the Custom House. The number of passengers carried wás 70,107 as against 58,667 If goods subject, to duties are found under lalse boftoms or in 1905 ;m increase of I9°/0. Exports of cereais fell off owing to otherwise lviddcn and not declared by the passenger before the (he dainnge done hy locusts. The Legislative Assembly hns biiggage iscxaniiiud the passenger incurs the loss ot' the goods, granted the Araraquara Railway a guarantee oi 6°/0 on 30:000$ a tine of half the value ofthe same and is arrested and sent to per ki(lometre to be entployedin the construction of an extension the proper authorities (br trial. This also applies to passen- from Bibeirtiozinho to S. Josó do Rio Preto. This will bring gers in whose possèssioii are found false paper money or the line close to (he neighbouring States of Minas Geraes and spurious létters of credit. Mal to Grosso and it is íioped that eive long it may extend into those .States, with . Federal, and [State aid. 3t is worthy of meu that J* h tion there were no aceidents during the year which mm involved either the death orinjury of any passenger oi employé. X^ood and Drink. lr*nre The burning question of To Settle tine Land. By the terms of the còntract, is Beer. All the have been today popular brews condemned by the Goyaz Bailway Company is obliged not only to build a line the Municipal analyst, the stocks of traders returned to the through a sparsely but also or into of railway populated country, to brèweries emptied the gutlers, and the good people of for the development, that alone can make such under-* City reduced to imbibing marca barbante or doing without provide this takings self-supporting by settlement of the lands along the beer altogether. Fortunately, Providence tempered the winds route. to its beerless lambs and caused them (o blow cool from the full terms will be found in another column. instead of The South, hotand thirsty from some other quarter, as ways like this, costly in chaiv.cter and traversing un- The (allen Rail they might have done. consumption of beer has off or almost unsettled country and without any immediate contemporaiies 150°/o, settled as our Brazilian are wont to say, and that traffic of importance to look forward to, must for oí and like non-alcoholic drinks, terminal years BILZ such guaranteed to.con- chiefly on Government to even working no sulphurous or salicylic acid or any kind depend guarantees pay tain other of expenses and wholly so as to unless siinultaneously whatsotn-er, has up in profits, poisou gone proportion. with construction the of settlement is deliberately Mean while the "Trust" instead of brewing Brahma Por- problem pro- vided for aíid undertaken. ter, Teu ton ia, Pilsen and Bock Ale isbusy turning out Teutonia mistake of the Imperial Government to and It was the great Pilsen Crystal Bock, by what process we will not enquire. railways but fail to traffic for them by set- When ready they will of course be analysed by the eminent che- guarantee provide tling the adjacent lands. Consequenfly for forfcy years some of mists at the head ofthe Municipal Laboratory and,it is scarcely working expenses and cost the country many risking much f ore them scarcely paid to tel 1, will be found to be purê and innocuous sterling in and, forty from today, and fit for millions guarantees years consumption by unborn babes if it were praticable. unless the adjacent lands are settled, railways like those to So all things lovely; will be the brios of eminent analysts be Goyaz and Mafto Grosso, will be in a similar saved, the reputations he.whitewashed position. tarnished ofthe brèweries We have always contended that no should in and the be once more to indulge in their own guarantee public permitted future be given for any railway unaccompanied by the obliga- particular private poisons as pleases them best, until some new tion t<> settle same and develop traffic along the route. We are, analytiçal genius arises and the game begins all over again ! to see how thorough a the . therefore, particularly pleased grasp This may be good fun for the analysts but it is death for Minister of Public Works, Dr. Calmon, has of the sub- the brèweries, present who can do nothing but grin and bear it and and that henceforward clauses to that effect will be made new ject prepare marks. The laws of the Municipal Medes and Per- and of every còntract. sians have it so; so what is the use of kicking? A brew by any part parcel other name will taste as sweet. But with the foreigner it is he will not different, take J3aiiqxie de Paris et des Pays-Bas. The things lying down. has are He too brios which horribly oífended meeting of this Bank was held on March 23rd at which by iiísinuatiòns of impurity on of analysts, like ours, general the part accounts for the 1906 were duly In was decid- of world wide reputations, and he will demand confirniation and the year passed. to deduct from the a sum of franes 15,000,000 of failing it, satisfaction and alas, ed profits perhaps, compensa tion. 90% will be to the Reserve Funds for the sharehol- Imagine the howl indignation would shake which put of that Bra- and 10% for the Beserve Funds for the Board. A dividend zilian skies if of Berlin, for example, ders some Municipal analyst is to be of franes 60 share for 3906 the same as for 19<>5. discovered Brazilian Coffee to contain more caffeine than it paid per As franes 20 were on January Ist last the remaininfj ought to do, to be injurious to German health, and consequently paid franes 40 are payable from the Ist of the current month. After the prohibited its use or sale in that City, and we can faintly of and various other resolufions M. Gouin the imagine voting these what the feeling of people like Guiness must be on remarked that the Board were keepingthe hearing Chairman prudently that the Sfout that has braved a thousand years hab been at franes 60 and were determined to continue to do so declared dividend to be unfit for consumption of humanity andemptied until they had added very largely to the Beserve Funds. It into the of streets a, Brazilian Municipality. was owing to this said the Chairman, that the bank Before i\v \. . 'ã-rrítí: r 456 THE BRAZILIAN REVIEW [April 23rd, 1907. «8* 0W ¥ Ubtll mtú ás (LATE METRÓPOLE) 4 RUA DAS LARANGEIRAS No. 181—Rio de Taneiro i&@1 This excellent hotel is situated in the iind most fashiouaMe *gj pléasantest part of Fíio de Taneiro It is suinpluously íurnished througliout with a view to affbrding all tbe eoniforts ofa refined and luxuiious home "gj£=? TLIt .... ,,,.,.,. is iiuequaüed iu Soiilb America for its table. $à The very ehoieest brands of Cbanipagne, Wines, Whiskies, Table-Waters and *M Cigars are stocked at reason;.ble ^*$ prices. — && ,. . Lnxunous family suites Special terms for bacbelors who intend to reside — Telephones on every floor. isl rooms, bmok.ng rooms American Bar) lhlliard jg Draw.ng (wich ro >.»s all fitted up in the most'modern style. jjfc A Barber's snop on tbe premises. g&^ A 1 hc gardens are spacious, sliády and luxuriant and a teanís court is being laid out. Ü CTp lo l>ate Doucl.e, l-Iun-e a.>cl Showeí I5atl»« ^ ou eve.-y floor. Hot Batha M r^9 osii'1 l>e I»;iíI ;it any hour. S^S ² æ ~^* ^& - dejeuners et diuè.vs à prix lixe. -. Rn,d plays'visitors during dinner H Tramam oi ,• nthe JardimÇP«c,0U8-r^t«urniít Botânico Co.npany evérv liiWt SS ^3 pass lhe cloors ev,ry 1.» minutes, all oi, tbei ¦ w«% lu"cl>(atthe Alexandra whichis within two Corcovado shouldQ-- SRÜl «¦a • , „ . minutes car ride 6 f tbe Corcovado It aliou SPECIAL ATTENTION TO THE COMFORT OF Gl/ESTS rS PAID BY Ú~y? CAS 1 Qs/Áe &MMieâé!4 K..S1ÍSÍ,, Ger,„:,„, irre..ch, !-»<,.-. ujrue-e, 8p<...íH]l „.,d Étallaç spõlte„ gf â TELEPHONE No. J,243 Telegrams: "Alexandra"^^ m0 mm ramway Company ÜEjVI E, IGREdíNHA, IPANEMA, COPACABANA AND GÁVEA *^im^is 10 íi^^y ofaccess to the Citv, healthv . ••* ^BRAZiLIANJXCHANGÊ Academia Moderna de Línguas Vivas " BERLITZ METHOD Director rHKsrm.v ,,| iii Brazil and Portugal:— HU3ERT BRÜNS AN ,x^VJ£ItTIMIj|í c.,lt|{|t;N(;Y By 1110 DID JANI2ÍRO SAO PÀUI-O J. P. WILEMAN C. E. Avenida (K,Hi-;,r oftlie -U K A/.I..Í C?iitrlíl. 181. Rua 15 de Novembro, 9. V\ BU0VIK»V"| PR/CK LISBON 0P0RTO múuò SoUlHt li:i«..i.iiei-t, Rua do Alecrim, 20 A. &(Jo. mo |)i5 JANEfRo Rua .Sá da Bandeira, 2õ9. fc.rtin^ham Wilson, U(>yal Bxotfarijre, liüNDOV Practical instruetion by liiglily traiiied professors iu Poutuguesb Olliees of tlie «Brazilian ptivticli, Gtífmau, Italian, Spaiiidh, liussiau. Review „ «uaH„, x> A, . .Japanesi;. and lOiiiflisl). ' Inhaúma No. 42 KtíVlew-n Visconde de FERNANDO ARENS & FILHO Mauufacturersand Importers of Agricultura! and Industrial Maebinery 0,er 30 e.peH.nee y,n, In Bnlzi^^^- ^^±St ^^Z^^ « M^ SAO PAULO l U m Aí l."i»^çturérs.^,-e RUA DIREITA No. 29-A 1?rTa „ A „ J^JT^S p.ü. box «o RUA MARTIN BURCHARD "Arenson"-São ~ Telegrams Paulo —¦ BRAZ ¦--¦¦¦¦¦ •-¦ ¦ ¦ - .....-- Apri! 23rd, 1907.] THE BRAZILIAN REVIEW 45,7 ] ONDON AN1> BRAZILIAN BANK HE IUUTTÍ5H BANK OP SOUTH L IJM1TKD T AMEBICA, LIMITEI). _ Capital £ 1.500.000 HEAD OFFICE: 2 A, MOORGATE Capital paid up » 750.000 ST london, Reserve fun HEAD (WICE: LONDON CapitMl £ 1.000,000 Idem paid up i 500,000 Keaerve fund KKANOH OKFICR IN KIO l>K .IANKIKÒ 425,000 10, Rua ãa Alfândega Office in Rio de Janeiro DrawB on Hernl Office and the following Krti.ioh-- 3 i , ¦* U A i . l> frO 1 and Agpiic,*'K : M A l LISBON, OPOKTO, MANAOS, PAKA', Hranolies Hl : TO PKKNAMHUC6, KAIIIA, SANTOS, S. PAULO, S. PAULO, BAHIA. LET KIO «KANDlí KIII..N08 IX) SUL A.IKKS, MONTKVÍIH.O, ANO POKÍO Alil.C.Í.B, MONTKVIDKO, KOSAKIO. BllBNOS AYKHJS, KOSAKIO l>K SANTA _»'_.' Agent at Santos: AND N:KW VOKK, A. A'. Hampshire tfe Ca., Ltd. Alan on : Correspoiidèiits in Periiiw.iil.ue.- rWa, Manaus, Ceará, Messrs. Glyu, íÍIÍIIh, (hirrie <- ,>ry, Gossler ,fe ( a.. The LtmdtAit. .Io'i.1,1. Sh.e.lc lia.nk /ümited, í.l Hamkiiko. liONOON. \ Credito Italiano. . âleitsrs. Heine tCr Oo., f íiAl.V. Urnuet,, liroiml lísltiblislted i/i Hamburg on lôtn Deceiuber, Kecelves deposits ai n.,tioe»»r i,M fixed periods and of Cardifí and London 1887 by the «Direct triMisacts ion der Disconto Gesells- every «ieMoriptiou <»f l.auU.i.n liuainHHs. ¦ : ,¦:¦ 458 THE BRAZILIAN REVIEW £April 23rd, 1907> /mM^">. SAO FELIX (BAHIA) BRAZIL Estál»lisíiG fieg t,<> advise Custoniers that they always keep a large stock Òf their iriost fainous brands at their Export . Ágeüts : MESBB-8 TH. & C. MÓLLEE -HAMJJÜliG. Brook I (Free Port) ••• «•« • a © ATTJiíNTIOSr:—• • • •'.• • Osííj ^címouho when bearing í.he WovériiiiieBii Slai-ip, ft*JGÍtF0ÍtÃTJ|(3I) «iíh Ihcirimtials. Vi».: o • _-8-.' 11 nm*_UÊ__WWáÊKBKMÊIKÊa_t_mtWÊmWmVÊa-èmWB^ In jyijjjvhter Veiii. We have received a copy of (he would be £3,023/298, The directors therefore proposed that a February number ofrthe Metropolitan Magazine, in half-year's dividend of interest and "Withpublished 'Secretary proíits should be made on New York, which conta His au article entitled April 5 oi £4 lOs. per cent., free of income tax. lloot in Brazil" by Mr. Reo Bennett,who was down here as cor- The dividends paid by the Bank of England, together with respondent of The Nev) York Herald afc the Pan AiriÔi*ican Con- fhe average Bank rate for (he past 13 years, are set out in the gress and as secretary to one Òf the American Délegates. Afc following table :-- lhe beginning oi'the article there is a note by tlie Editor of the "had DIVIDENDS ON BANK OF ENGLAND STOCK magazine in which he says.that Mr. Bennett every faci- Per cent lity for observing the conditions about him." We accept this Year to statemcnt of lhe but Bennett did not avail cml oi' Editor fear that Mr. Feb. 1907 liimself of tliese facilities with any very marked suecess. In 1906 1906 190-1 1903 1902 1901 1900 1899 1S9S 1897 1896 1895 lst half Si theíirsl lhe language here seems to have him for 9 9 10 10 10 10' 10 10 J0 8' l_ 8 S place puzzled 2ud half 9 9 9 10 10 io io io io io s'/2 sy2 lie refers severaI times to things in a way leaves Sptinish that Yeaar 9 no doubt as (o what he thinks the "vulgar tqiigue" of Brazil 9 0!/a 10 li) J0 10 10 10 91/4 81/4 8'/4 is. However, he does not wish to be partial so he refers to his 1906 1906 190-1 J9C3 1902 1901 J900 1899 1898 1897 I89G 189Õ 1894 own country a.s "Unido Estadões dei Norte." and to the Presi- A v. Bank rate... 4-25 3'0 3-8 3-75 3329 3-721 dent of Brazil as "Dr. Alphonso Penna". This will satisfy 8-968 3-75d 3 242 2-637 2-J83 2-.0 2-117 every body. -Ausii-alia» Prosperity. A decade ago British Having thus safely over the íhin ice of tlie language glided ihvestors owned three of Australian and New Zealand he asks, "Where can one learn of the subsidized line', quarters question securities. Nov, owing to repayment and taking up of new liloyd Brazilian, running large passenger and freight steamers issues by Australiana lrom themselves, British holdings do not repre- Rio de Janeiro to Ignitos ten thousand miles up the sent more tuan two-íhirds Ainazon". ofthe total. Even so they amount Where indeed! He thirsls for information, how- to the tidy sum of £370,000,000. ever, and nothing daunted demanda "Who has heard ofthe capital ofthe great State of Minas, Belle Horgate?" Once more echo aiiswers Who?" CGLONISATÍON AND RAILWAY COMPANIES Having thus touched lightly on Brazil as a whole he comes Amongst the clauses of Decree No. 6438 of 27 March 1907, down to lhe consideration of Rio itself and here he must have which approves the revision of the contract of the Goyaz "The Rail- been all oyes ; thus we learn, gazelle-eyed senoritas (s/c) way and the modification of its original plans, are the following walkiny• the streets with true relatiug to thepeopling ofthe American freedom weár Paris " district served by that í-íaihvay:— go\vns, they look in the shop Windows oreat iees and things The peopling of the lands close to the Railway must be justas you see them in Filth Avenue or State Street. The undertaken andpushed by the Conipany independent ofany * çabalkrios (s/c), to a man, are in cutaways and silk liats, dash- initiative on the part of the Federal*(¦?overnment, State Govern- ing nervously down lhe street, eyes full of business in a manner ments, associations or privâte individuais. . that would make a Wall Street promoter look a laggard in com- _ 1. Thepeopling shall be eflected hy means of the defi- parison." nite settling of families of "elhowed immigrants, aceustomed toagricul- Having a path for himself" down ihe Ouvidor tural labour or cattle breeding, as owners oflots, duly measured lie appears Io have been arrested by"is the notice in a shop and marked out along both sides of the railway line or within wihdòWj where incidentally a distance "shiri.s a hand play ing, to the effect of 20 kilometres each side, forming nuclei or raihvay thal that have been selling colonies, roads to "this for twenty thousand reis can be construeted intersecting thelots to be mark- beboughi da.y only" at the ridiculous price of eighteen ed oíí". reis." AVe agiee with Mr. Bennett that such a price is ridi- I 2. The choice of localities most suited for the colonies Cilloüs and believe "notion it would also be so on (he counter" shall depend on the presence ofthe features essential for their ofa Nev Yoikstore. development, When the Cooks tourists come down here special attention heing paid to the mildness of We wager they will make a bee line íor lhatstore. tbechmate and its healthiness; abundance, However, quality and distri- having shouldered his way out of the Ouvidor bution oí water; orographic conditions, the nature Broadway") andfertility ( Mr. Bennett was takui up Corcovado and his ot the soil and its producing and the extent description of power, ofthe forests thi«expedition,apparenfly níterluncb atPaineiras undergowth plains and arable land, the área available is a in itself. "As everything and gem He says. the train ascends and that may be of interest for the most successful setth each enrapfunng view bursts into being, the foreigner sita mg of foreign immigrants. awed in appreciation, but the Fluminense (Bravo! Mr. Bennett') § 3. The choice of localities, made leans out of by the company is (he car, his eyes dance, he Waves his arms he subject to the inspection of the' district fiscal Lhrows kisses engineer for the with both hands and, Íinally, as the train'ap- examinaticm and approval of the Federal Government. thesummit and the poaehes glory ofthe mosfc beaiiti fui view • TÍle ^eneri'1 Pbtn; comprising the division ofthe land m the whole world lies before him, íntolotst Ai"-/ and "Three he bursts intocheers. Some fhe extent of the same, the roads and tracks to be leader enes, cheers for the beautiíul view" and niade and the type of house to they given be built for the immigrant, shall are with all the enlhusiasm of aFourth ot July erowd be submitted by the company for a Yankee in the approval of the Federal vil lage." Government and carried out in accordance Mr. with such approval Bennett ends his article hy saying that the President under penalfy of foríeiting the aid and and his favours treated of in 3 17 Administration hope to increase the population of this oí the present Clause. country by 1,000,000 inhabiíants in the next four years as well \ 5. The company shall acquire the necessary land for as build 10,000 miles of railway. Theirs tne colonies I will indeed be fhe by purchase, concession or agreement with the slrenuous life and, if we are to believe Mr. Bennet:, they btates or surpass will pnvate proprietors and, when necessary, by disannro- even President Roosevelfs fondest dreams and make priation in accordance with Malthus section b of No. XIII of Art 35 oi tiirn in his grave. Eaw No. 1617 of 3o December 1906. On closing the Magazine our eyes fell on the followim? °neyei'ylot the company shall atthe head ofthe "Midwinter 1 !?, prepare the ground cover:— Fiction Niimber" which about the dwellmg house for the íirst tilling. after all exp Ia ins everything. ' _ 7. Wheneverin the opinion of Government the condition of the colony or the nurnber of rural RíijuIc of Eii«flanei Dividend. At a lots demand the foundation court of general of a own or ofthe laying out of íurther lots the Governor and Company of the Bank of England fhe company will lav Mr Alexander out the necessary urban lots according to the F. Vallace, the Governor, stated that tlie approved plans. profitsof tlie half-year . U, lhe company will keep up, by the most convenient ended February 28 last, after makim> mensures,111 provision for'all its power, a propaganda .service abroad for contingencies, were £054,160, making ti e- oílofs, the sale amount of (he "rest" dulymarked-out and prepared, to immigrants on that day £3,678,183, and that, to agricultural trained after providing a dividend "rest" labour or cattle breeding so that they may coine of MlOs. per cent., the and settle thereon. J — ¦*•/ April 23rd. 1907.] THE BRAZILIAN REVIEW 459 l 10. The Federal Government may authorise or promote, trouble the supply of money, at its own expense, ; i.e. of gold coin; was never so the introduction of immigrants destinecl for great, but the insuírieiency of Capital', the colonies and shall i.e. ofsavings, to finance pay their. passages from the port of new underlakings. Money is but the origin to the of destination vehicle or instnunent of port us well us prov.de menus oí exchange and its activity dependsas much on felin rapidity with disembarcation, housing and transport to the station noarèst to which they are executed as on the quantity of money in cir- the colony. © . culafion. '¦¦-.' _w I 11. The service of settling, including help for the given Until liquidation prices are brought down to a par with first establishment will be ahtheexpense ofthe company, which available capital, i.e. until it becomes furnish un necessary to sell out shall newly arrived imniigrants with toolsancl seeds and one secürity to buy another, there apportion can be no stabliíity in the thom paid work, so long as not inconvenient, on the Stock markets. Prices may be driven^up railway orei oso to again, but the Bourses m ' their lots so us to aíford tllem means of will be perpetually subject to and subsi.stcnce and shall, when panies there will be no perma- necessnry, supply themin advanee nent reaction. As soon as liquidation is complete new aceumu- with food or nioney until the first lmrvest. lat.ions of capital will ?i 12. Rural gradually build up prices again until lots wií.h the iniprovemeiits made on them they, perhaps, reach their former high shall be sold io imniigrants levei, when speculation for cash payment or for payment will overdo it again and the wlmle in at a fixed date. process set oiiee.niore. This , is no .new thing but was described and analysed ago by 13. The of the lots years \ price and of the houses, as well as the John Stewarl Mill, who put the of reaction at 10 cònditions for shall depend period years payment, on the àpproval of the interyal. Now things move quicker and the reçurrenee of Federal Government which reserves to itself the right of fiscali- "boonis" ar.d. depression are more frequent. Sing everything which iuvolves the well being of the colonists The immediat.e cause of the last slump, the echos of whicli and the rights which are guaranteed to them; are now reaching us here, was the inability of investors to the 8-Í4". The company must facilitate the transport of pro- , enormous new is.sues of the American railroads. In duce of the consequence, colonies and grant a rebate or reduetion of 50°/0 on ; better terms had to be oííered and investors sold out. one. .stock the scheduled freights for tive years, dating from the settling of . to buy another. the first family on the nticleus lot, or railway colony which has That such liquidation is'already in the follówing been founded under process the cònditions of .this contract or has tuíen figures published by the Bank ers Magazine for April conclu- undertaken by the Union or the States, by associations or pri- sively show: — vate individuais for the sei ing. ti o,f foreign immigrants as own- ^ « At no time during the pasf decãde, and even for a much longer ers of their own land. period, lias our conteinporary's lisfc of representative securities showa I 15. Tlie company will give nil the aid in ils to ánything approácliiiig to' the depression now recorded. Between Pebrunry power 20 nnd March 20 there was a- total depreciation the imniigrants who have been settled, for the piepaiation of of no less than the and shiilí slimulate £125,080,000, the aggregate value shrinUing from £3,81í),42!\00ü otr-the produce the opening up and develop- former dato to mentof both small and industries. £3.091,340,000 on the latter, the decrea.su being equal to great The company shall 3.28 per cent. It is to be noied, too, that this follows a serious decline a also the creation of schools for promote free primary and techni- month previously, anel since; tbe beginning of this year the fali in cal education and farms for experiments and demonstration ; value ofthe listed stocks • amouuts to £lõ-!,Ü0O,000. With tlie single and shall also erect • churches '•'for the practice of the religion exception of colonial bank shares, (wliich show tíu apprcciation of 0.5 per adopted by thé immigrants. cent. j, no department has escaped the prevailing influence, anel even Pi' 16. Foreign inimigrants as well as National enjoy Englisli. bank sliares have given; \yay;f notwitlistaneíing tlie high value of shall loanable complete hberty wiíhin the law and may tngage capital. Iu American railroad securities tiie loss amouhts to in any agri- £52,550,000, or over 12 cent. South African min ing shares are cultural,'comniercial or industrial enterprise without letor just per hin- 5.3 per cent. lower, Goppeis 8.9 per cent., and Miscellaneous nlining drauce provided the same is not prejudicial lo public safefy, shares 10.5.per cent. ' . health or morais. Àstute speculators in New'York took ádvantage of the \ 17. The Federal Government shall concede to the com- "gralits situation thus created and ,of the monientary unpopularity of pany under the denomhiation of in aid" the follówing the big Railways to force-on a liquidation, the effects of which premiums, so long as it regularly carries on the settling of im- have been felt, directly or indirectly, ali over the world. The migiantsas owners of their own land according to the terms of slump in New YorK was reflected in London, Berlin and even this contract: — Paris, when to protect the Reserve the Bank rate was raised 1). up to 200|000 for each house built on a rural lot, after to 3 1/2 cent. Follówing the- and able altitude of ¦ per prudent the type of lhe same has been approved and it is occupied by the Bank of France tliroughout the Iate monetary erisis and an immigrant, family ; recent sp°ciíic deciarations of the directors, (his action is parti- 2). for each immigrant family, which has not before been cularly signiíicant, a. sure and certain sign that the erisis is not Tesident in chis country, brought from abroad at the expense of passed yet and that the demanda for money, to bolster up art the company, and settled on a, rural lot; untenable situation are probàbly still acute. Since then the a), up to 100^5000 when the family has been settled for six new Secretary of the United States Treasury has come once months; more to the nssistance of speculators by depositing receipts in b). up to 200$000 when the family has been seltled for a the banks instead of in the Treasury. and by other measures. year and has developed the cultivation of (he iVnd or the breed- Call money had fallen November 30th) from 14°/0 to 10°/o ing of cattle. (hy and the danger of heavy withdrawals of gold from London and 3). up to 5:000.^000 for each group of 50 rural lots occupied elevation of the Bank rafe to 6% again was fur the moment by immigrant families who in the colony and within the period removed. Indeed, we know that since then on the llth inst ot' two years from tbe settling of the first family have received the Bank of England rate was reduced to 4 i/2o/0 the financial definite titles to ; possession. papers are again optimistic and quotations on the upward tack. I 18. When the immigrants have not been brought in But after ali, the relief is.only momentary; at any moment from abroad at tlie expense 'under of the company if, shall settle them an accident may precipitate a new eatasfrophe until a decided the same cònditions as those who have been brought in at halt, is called and investors are allowed a respite to digest what its expense and shall reeeive the premiums treated of in Nos. 1 they have been swallowing. and 3 ofthe preceding paragraph. Far from that-; however, every sign of reaction seems to be ?i 19. The company may obtain from (he inferested States only a sigiial for fresh ca pitai isation. But each suecesssive fio- any other favo ura and grants inaid besides those tieatedofin^ 17. tation is more and more difficult. The Argentine Oonversioii 20. i\he company | must observe such rules as are ai- loan was a, dead failure and is quoted at a discount; the popular ready laid down or may be ordered in future by the Federal Japanese issue but a »uccês d''estime; well secured Pará Port Government for the benefit ofthe colonisation service. bonds fell to 6% discount and even the appetite of French and ?i 21. Tlie Federal Government engages to request from Belgian investors seems satisfied. . the State Governments free concession to tlie companyof fal- It will be well if take warning and refrain from low laneis «long or near pronioters the line for colonisation, according to tlie urging jaded markets, otherwise,a debâcle is.ouly a matter pf terms of this contract. time, and of a very short time, too. I 22. The grants in aid made to the company by the Fe- deral Government for the peopling ofthe land in (he company,s The lesson for us here is that we have nearly reached the li- special districts mit ofour and would do well (o coneentrate shall be restricted to the vote for this purpose borrowing power in lhe Budget. . attention in consolidating the capital already borrovved and § 23. The company shall present, together with maps of making it produetive. Wilh che nioney markets as they are, and each section of 100 kilometres of the line, seem likely to be for years, if vvo go on borrowing it can a general plan for the perhaps 'disaster organisation of five colonies each containing at least (00 rural only be on terms so burdensonie as to make here inevit- lots suitable for agriculture or cattle breeding. able sooner or later. The periods allowed for the preparation and definite es- If half the schemes already under way, for which obligations tablishinent of these colonies shall be those laid down in have been undertaken, are really carried out weshall ha ve enough ClauseV." to do here for the next ten years or more to ihake them repro- duetive. To engage ourselves still deeper is to court disnster. THE STATE OF THE MONEY MARKETS Next to New York the slump was felt most acutely in*'Gcr- The slump on lhe European and American Stock Ex- many, where new capital on a gigantic scale, evideutly beyond changes seems to have been much more serious (han was gene- the scope of local accumulations, had been ç'rçatejJ". Iu En- rally imaginedand, though patched up for the time, the causes says The SÍatist, "the market is fairly sound. Credit is in it originated gland, which exist still and, we believe, may lead to good and' frade prosperous. There has been little speculatio» renewed panic at any moment. These causes are overtrading for some time and whatever difficulties tlierer Jiave been have and over speculation, the world over. Great as prosperity has originated iu speculatious contracted abroad." At Berlin there been every where lately accumulation of capital was insufficient was a panic on declaration of the rise in the French Bank rate to keep up with development and sooner or later, liquidation and stocks were realised at any price. Iu Paris, too, there was was inevitable. So less proíitable investments had to be sold to a sharp fali in some classes of securities. The Statist takes au hold on to others offering higher returns, and the and believes that the worst is "gilt-edged" prices of Con- optimistic view ofthe situation sois and securities everywhere gave way. It is over and advises investors to buy at present low prices. We, not, as our able contemporary, the New York Journal of Com- however, though out of the hurly-bmly, venture to doubt if the mercê, points out, the lack of money but of Capital that is the worst has been seen yet. w if 460 THE BRAZILIAN REVIEW [April 23rd, 1907. NATURAL TABLE WATERS Ft*om the eeleb^ated sptnngs ___P__t_C_L^VV' __i Caxambu', Lambary and Cambuquira IN THE STATE OF MINAS GERAES K|MBfctV;——— 1 *BB^^5-_S-_-Mi^ffmBOür^'"**! '7V''''*'^ Tlie se vMltaline Waters, wliicli are ce- v, lebrated fV>r tlxeir therapeutic qualities, are now toei ii g: put ou tlie market at prices tliat defy competition and are v^itl-in tlie reach of every o ii e. CAXAMBÜ' LAMBARY A1NI> CA31- _l _K_4^iitA *'8 iA BUQUIRA are purely natural waters, without any artificial admixture wliatsoever. 'mmW»W)$Êtm\ I^liey are higlily recommended V>y tlie ÁWÊÊfíiilÊ and mWMmmWm^W^^W0iÉ^^\ Paculty for disturbancers of tlie dig-estive _K_#^_l_^**4i^^_ívih_^_l urinary organ_,iisalso of tlie liver and xiterus. _mP_m__B *»^_!_rV _L*_B___vw f lieir low degree of minera lization admitN of tlieir use in tlie most serious in- feclious diseases, such as Muco-ga«»tric lever, 'JTyplioid. Fevers, ln- DbCruptive and Yello-w * ^^^"^^^^____H ílueiiza, Pneumonia, etc- ______P^R^^-i*-. ¦,^p^_jí'_i*,~ '¦ W&mWmm^kMmMfitolyZÍ''1^ Caxamliü, Lambary and Cambuquira Waters have, moreover. an agreeable flavour and are well suited for table-use! ¦ISfíSífe" J s\ ' _*%IU Caxambu', Lambary and Cambuquira Table- ¦Etól»'..!' _ÜhUb^J E^BBfl_fl_5_K_^_fl1_^_WflWCir Zm^Lw Waters are the best in the market and compete _fc_2^ISfcS_^^^^_^^______f5#5í^l_»B favourably with the best foreign marks ! ! ! HEAD-OFFICK Rua da Alfândega No. 20-Rio de Janeiro Try the delicious and Patent Bureau well-known brand of cigars S0LICIT0R OF PATENTS AND TRADE MARKS STENDER & CO. OF Successors to B. RODENBÜRG & GO. S. FELIX — BAHIA SOUTH AMERICA Never snioke otber cigars than The STENDER BUSCHMANN & Co. l>ermif>e, besides being; aromatic and delicious, they ave THIí BEST. When buying cigars, always ask foi- No. i| RUA GENERAL CAMARA, No. íó The STENDER. RIO DE WHOLESALERS: JANEIRO (Brazil) HERM. STOLTZ & CO. — RIO DE JANEIRO Caixa do Correio (P.O. Box) 314 — Telegrams "Buschmann-Rio" 15-12-05 V ¦*. NEW-YORK COMMERCIAL A JOURNAL rtovotcd lo FINANCIAJL, t OHI91ERCIAI, AN» MANCFACTURINÜ iiiterests. One of the oldest paper.9 in the United States, and the only Daily that has an edition in circulation in eveiy Country in the World. The INTERNATIONAL weekly, is published in both Spanish and English. Ali market qüotations in full. OIN 8ALE at CRASHLEY & Co., LONDON OFFICE, and at Ouvidor, 36, Rio. Arundel St Strand. Full particulars, as to subscription and advertising rates, oí L. C. IRVINE — RUA DA QUITANDA No. 39, Rio. ! f__. April 23rd, 1907.] THE BRAZILIAN REVIEW 461 2U. 22! as- "^^' The Great Western of Brazil ^•fT^™^'^ * i ? ^s GONÇALO0 itf NATÀl I Railway Co., Limited. y w^ V— \ ^^^^ I ""l\_ Head Office: \ A .—<_ „«..„_. „,_.. _X\ -vJljMl X^—^.— í>^- ^ OSASTA RITA »^ ^?S. _r"ARB)l t__i RIVER PLATE HOUSE. FINSBURY CIRCUS. \j ? \ ,--A__^> ^^>^__-J^^Ai\yiiA ^ LONDON. E.C. Ç-. N. \s~^ I/-—l Bacopa ry /"' O.ÍARyX ^——^^ CAN6UARETAMA*y~^-v/°BEgTQ _#í?íw£-.eip. Cable Address: "BENCH, LONDON." .. ( X/ ? f\ --—-? »_S N_**>\__r-__.l.7.--\/-v^--^_IE2C0"EZe"" \ \ w ^*""^ y^r^y jardim \x fv "<^;v«—^___ Vf 3 Oiíice in -i PRAÇA DO CORPO SANTO, 17, ? com. o J \ —^^^""ij—^C~7 *—"" Recife \ •• BENCH, PERNAMRVCO." - bananeiras I. AT CaW_ /.ifdresa: pCoquein/i/io "•-———— independência! \mamamW^/\ DIRECT COMMUNICATION ? BBEJ0 DARE'»° -^Vv^:,^ -^^TotfPABEPELLO ,1 «,_..____._. ? VV ? ALAGOANOVAO^ _>-. V___^ • ? A XN/f Ay*NÚA \_OALHANDRA For aU information apply to ~^~'^^vi ^^X--_ N_ kr opeor.AsòejFO«> ? ROSAJTSkvA.fi' 2 i 'ÍTAMBI'--., ffi V. ^V_^_ TV cab^ceirasov Q ^^ V ;\^t,Mbaubã víféf'? HJTATTAM, Secretary, at the London Office. ^\__^ "^^^"£^_y*na\ ',,. 'A'. ? /VÍ^*^"^ »¦ .. . -í »nd X___^- ^ N,0 U —y~ ALLIANÇABgâWÍUN*'y^ (jo/t/uCOPAPO ^ •í « 77. y^ ^-^dÉLAGpi. SECCA \V A. H. A. KNOX LITrLE, General Manager, , J2'* "^A ^ J^~^ "*2ç\ 7 . .7 TAQUARETlflSAO ? \\ NAZARETHQ^ 3 1 at the Recife Office. >.,.--^. fíio F \y \\ ^Btracunha-^ A\_J \ *\~¥Í XY f—/ "V-y "^ n ,—^A ^^/^^fRECIFE''o^p^Z/Cpernambuco) F ,s^ /*'_! i /i / // J L^A .\ \ v ? L ? [ -O a J ' C^- / 0° 8 >^^^ / l^-C/AA ^-L X^-C ^/V^v- V ? ? ^ < ^ nil— fc m ¦«¦_r*g*n /íJOA VIAGEM k ^^/ DE BAIxbx. T/<%)>. \J ? _^____-^íx. ^¦"^^'^^•iRr^ \Í / /__;* \ /^"^ \ \ 5>ÍAG0A ^vA\ ; . /P/.AXERE3 ^ kW_If- 13 JtAV// VUt / / Lg,l f^V ^dU^^-^^V . \N^\ \e6, ? /**5_v _I ¦-^¦¦¦¦¦¦•^j,!"^*^ 5a^2íC^o__-_-_iiV»^^_K^^ ¦/ a ^y^^ )^ **o\ $'¦¦__]__ J^í°^ Ê jW^tM ^Hrv^vtf^ ^ &jL~ \ )L/ \ pesqueira——»* xO bon,-^^^ mÊ AynrMus^-^^rt- T^rsbeír^o '—^^l\^k ? -_* //l /-•-_ —ttX'-''5^"?--'—' r^ / 7 X^ ? -^>^,^. >^\\ ( o M 9(J£i ¦ *• J —A^L 7 \-,. o7*^1* \ II \ Lguas e4las/ toaco^etHoV 3t#|MPERATRiZ riBi„V\7^V/L-RTO *S -•.V U 1 -2X >CORRENTtS •/# (UNIÃO) 9 ÇAKARA-\BE fllIÍIqUIXABA^! ' /• æ ? ? 9 \ -•} ' / OED_ PEDRASppDHA_, 'l^- ;V/*'"~'9 $ ';-| ^^^^Y/_ ;^C ^1 ..-7l.lU»»0Ú^Í^> a_^_^^ \^^yPORTO L oWaü^oe^/ '^^^^0kB^-íí^^ ^Vgò>iC-Ti.A V\/-^t_iW'^BH v^ ? r"^ ^- s 7 • ) _^ /Xiv ui t «% \ I ? k-^^^_^^^^_g^s^° ! -~<^rv \ í # / V 1 ,trAD,AV \A? MACE,° ¦- ¦ ¦¦ O / L__i_ _25__x ±__±_: i—5 v-jr- ² ¦¦ as- ; , -_____. rtr~- L P —_—_——-^-^-^^ Telegraphic Address ISTo. FERífO-RIO HIME ^j^ y^/ \J 0 Caixa 593 General Merchants, Metal Importers and Manufacturers of Bar, Angle and Horse-shoe Iron, Charcoal Box Irons, Wire INails, Lead JPiping, Mule and Horse Shoes, Bolts, Pinte and Rivets of ali kinds. and Sturges' Gement ÜNDERTAKE CASTINGS OF EVERY DESCRIPTION Agents íor Knight, Bevan "iVL__.a>OLIIV" Sole Importers of Hall's Sanitary Paint CENTRAL OFFICE: •¦ 32, RUA THEOPHILO OTTONI, 32 ',V,A r V. --.,:¦. •;¦*' 462 >THE BRAZILIAN REVIEW [April 23rd, 1907. Cable-Address B0RLID0-RI0 P. 0. BOX 131 BORLIDO MONIZ & CO. EiSTABLISHED 1878 General Merchants, Importers *fc Contractors —- SUPPLY THE PRINCIPAL RAILWAY AND STEAMSHIP COMPANIES OF BRAZIL Importers of Railway Apphanees, Tòols ; Ás pai r Material, for Cars, Locomotives, Boilèrs, Wagons ; Lubricating O ils, Varnishes, Lubricating Greases, Burniiig Oils ; Railway Apparatus, Industrial, Agricultural aud Mining Machinery, Implements, Tools aud Supplies ; Packing, Puinps, Scales, Safes, Printing Presses, Artisans' Tools ; Rubber, Leather and Canvas Hose ; Galvánized Iron, Portnble Buildings, Wire Fencing, Babbitt Metal ; Paiuts, Còlorsj Glass, Inks ; Coachbuilders' Supplies ; Electrical Maebinery and Supplies ; Olocks, Watcbes; Strucfcürâl Iron,**AGENTS Builders' and Plumbers' Supplies ; Sanitary Waie ; Wool, Canvas and Duck. ^\IS"r> KlSL^RIOSJ^]VarAaAIVJB© for R. & J. Dick, Glasgow - Original Balata Belting - Mander Brothers, London - Olsina Water Paint - Bliven & Carrington, New York - Lubricating Oils and Grease - Head-Office : Rlia Ú0 RoSaHo 17 - Rio de Janeiro - Brazil mwmmmmmmmMmmmmmÊm i kesm ¦ mm iiinHBH UriLISàTION OF BRAZILIAN NATURAL PRODUCTS RUBBER BY JOHN BUCHAN B. SC. world's piioduction and consumption I The Board of Trade Journal gives a précis translatioii of an article by Professor O. Warb urgiu Tropenpüáazer from In a series ofshort articles written by Mr. John B. Buchan, which we take the following : — a Chemical expert, some ofthe natural of Brazil producfcs will The world's consumption and production of rubber is sta- be ireated of and the uses to which they niaybe applied explain- ted as follows by a Liverpool firm : — ed. The subjects will include natural oils and waxes, the exploitaíion ofpetroleum, shale, extraction of tannin etc. Year, lst July to SOth ¦ Total Total Stocks, SOth OíLS June Production Consumption June Brazil Nut Oil. Is obtained from the seeds ofthe Bra- zili:iiüt tree {HerthoUesia excel&a) and they yield 66% to G7°/0 of oil by weiglit. It is obtained by pressing the nuts or better by Tons. Tons. Tons. first crushing the nuts aud then boiling them in water and 1899-1900 53,348 48,352 O 8,809 afterwards pressing them. A sniall portion of salt is added 1900-1 52,804 51,136 0,941 afterwards to the water Io facilitate the separation ofthe oil. 1901—2 53,887 51,110 0,816 The chiei* use ofthis oil is for soap making, especially the com- 1902-3 55,00*} 55,276 5,053 mon class of í oi let soa 1903—4 01,759 59.666 4,388 ps. 1904-5 68,879 65,083 4,584 CASTOn Oil. This oil is obtained from the seeds of Ricinus 1905-6 67,999 62,574 5,352 communis. The seed is shelled, crushed in hydraulic presses and clarified by íiltiation; this oil is suitable for medicinal pur- poses. In the second pressing a. certain proportion of water is Ofthe 68, °00 tons of rubber produced in 1905-6 over one- added and yields an oil suitable for technical purposes such as half carne from America, viz., 42,800 tons; about 23,400 tons lubricíition and the manufacture of oleine oil, soap etc. For- from África, ineluding tbe East African Islands, while the re- nierly Marseilles (France) had the monopoly of the extraction of maining 1,800 tons carne from Ásia and Polynesia. Of the Castor Oil. but now has to meet with the competition of the 23,400 tons of African rubber, 4,500 tons were produced by the English and North European erushing mills. The cultivation Congo State, 1,500 tons by French Guinea, 1,250 tons by An- castor oil-plant is 1,000 |jOfthe one worthy of the attention of agricul- gola, tons by the Gold Coast. In America, Brazil still Purista as the seeds yield from 40% to 50°/o of their weight iií oil supplies by far the largest amount, namely, 41,000 tons, then and the extraction of the oil is a simple and inexpensive opera- the Central American States with 400 tons, México from 150 to tion. 200 tons, and Bolivia .1,100 tons, which, however, is mostly ac- Cocoa-mjt Oil, is the fat obtained from the kernels ofthe credited to Brazil. cocoa nut especially those of the species Cocos nuciferaaná The following statement shows the volume of the exporfc Cocos eutyracea. The kernels yield from 40% to 45% of the oil. trade from the A mazon river: — Inconimerce three qualities of the oil are distinguished (1) Cochin oil, the rinèst and whitest (2) Ceylon oil, where quality ; Io Eiorope To America Total the fat is expreased or boiled out on a large scale; (3) Coprab. oil, the fat from the coprab i.e. kernels, is shipped in enormous quanlitiesto Europe. In order to reduce the bulk, coprab is "sun-dried'' Tons. Tons. , Tons. dried before shipping, hence the commercial ternis 1896—7 and "kiln-dried". 12.368 9,848 22,216 In Ceylon it is now found an exceedingly 1900—1 12,522 15,285 27,807 proíUable business to manufacture cocoa-nut oil. The kernels 1903—4, 15,541 15,084 30,535 are first pressed in a hydraulic press which gives the first 1904-5 16.281 16,819 33,100 quality of oil. The cake is then boiled with water and re- 1905—6. 20,167 14,685 34,852 pressed givingan oil of very slightly inferior quality and the resulting cake in (left the press) is sold for cattle feeding. In addition, Brazil exported Cocoa-nut oil is chiefly used for last season 4,800 tons Ceara soap making and the manu- rubber and 3,000 tons Mangabeira facture of candle night lights. "Mannheini rubber. Under the name of Expectations with regard to cocoa-nut butter" it has been manufactured Mexican Guayule rubber have as a substitute for not been wholly realised, and disappointing butter. Considering the large amount ot results have been raw material avail- obtained from mistel rubber in Venezuela. able and the facilities of transport to the European market, it is evident that there is a splendid opening for this hidustry, espe- cinlly, as in tlie case of castor oil, lheinstallation required does HUNGARIÂN WINES not call for the outlay of much capital. The price of cocoa-nut oil in London varies between £25 and £30 according to quality GREAT REDUCTION! and the state of the market. Castoi oil first quality averages 3d per Ib, second quality 2 I/2d per lb. & ¦fungaria The next article will treat ofvegetable waxes and their proper methods of extraction. Hungariaii Claret 4'liâteau Palugyay II mi gari an Iloelc KIERNAN & PETERS ukay COMMISSION- AGENTS SOLE IMPORTER: Accept Agencies for the States of Amazonas of lst class na- PAULO ZSIGMONDY tional Houses, especially of Manufacturers. 78, Rua General Câmara 24-2-^A M(K April 23rd, 1907.] THE BRAZILIAN REVIEW 463 SAO PAULO Agricultural Statistics for crop year 1904/1905 Santo Antônio Ribeirão Ittiverava da Alegria Preto Mineiros Villa Bella Jahú Number of proprietors 262 228 261 122 238 759 Área under cultivation alq's 1,188 594 15,307 1,898 240 14,076.5 » » virgin forest 14,495 2,127.5 21,329 1,127 13,732 10,069.5 » » second growth.... » 8,980 682.5 1,675 735.5 2,064 5,788 » » pasture » 19,979 2,503.25 11,793 735.5 335 5,397.5 » swamp and useless. » 69 67.25 192 20 4,974 4 110.25 Total 1 ¦¦ ¦——M—mm ¦> área. » 44,711 5,974.5 50,296 4,516 21,345 34,441.75 Coffee, área under *•••••• 666.5 290 15,210 l,5il.5 19 11,691 — Number of trees 1,237,000 714,375 29,094,365 3,005,500 80,422 22,749,494 Produetion 1904/05 ar'bs 120,120 32,295 2,040,036 162,530 2,303 1,476,568 Cane, área under alq's 62 36 72 12 51.9 186 • Sugar produced ar'bs 7,550 607 1,920 ² 870 Spirits produced litres 110,000 33,800 646,0U0 19,200 597,060 889,490 Cotton, área under alq's 4 ² 15 » , produetion ar'bs 240 Rice, área under alq's 469.5 36.5 1,189 23.75 0.50 72 » produetion litres 1,456,500 535,400 2,941.100 203,000 3,900 . 477,150 Indian Corn, área under alq's 224.25 202.5 4,228 415.5 41.5 1,898 ª » .produetion litres 2,702,500 1,683,960 13,359,200 1,787,450 108,960 22,428,980 Beans, área under alq's 346.25 21 3,386 33.25 45.5 137.25 » , produetion litres 250,500 17,780 8,696,800 33,250 83,460 2,385,100 Tobacco, área under alq's 0.5 1.5 3 ² 12 » , produetion ar'bs 70 85 300 ² 1,081 Vines, área under alq'3 2 1.15 » , produetion of grapes ar'bs 60 30 Cassava, área alq's — 109 — » , produetion kilos — 1,158,950 — land Valuation of per alquiere 15$ to 100$ 20$ to 250$ 20$ to 4()0$ 150$ to 400$ 10$ to 250$ 20$ to 1:000$ Total value land 4.626:900$ 1.011:600$ 54.010:663$ 4.506:600$ 552:250$ 43.434:525$ Workmen—Native.. No. 512 409 4,717 349 1,286 2,015 » —Foreign 97 101 16,805 818 — 8,746 Total. 609 510 21,522 1,167 1,286 10,761 -I ¦ ¦¦¦¦— ¦ ¦ IU, . .^ Horses - » 1,039 736 2,496 464 11 4,385 Cattle » 8,547 2,801 6,970 921 270 9,375 Mules » 196 47 1,865 242 3 2,974 Sheftp & Goats » 168 6,755 810 192 8,330 Swiue » 5.762 1,742 18,189 2,421 520 44,427 Fo'wls and Poultry » 9,025 6,865 91,330 27,820 17,246 135,539 Nationality of Proprietors : — Brazilian » 258 221 156 77 237 534 Italian » 2 6 38 39 1 149 Portuguese » 1 30 3 48 » 21 4 German 15 2 5 British » 1 1 Spanish » 1 14 French » 1 American Sundry THE CAR OF STEADF SERFICE ^^^^ REO Gentlemen: I have run my REO between seven and ten thousand miles in ali kinds of weather over rc ads that were almost impassable for horse drawn vehicles. 1 have made over 100 stops in a day without a miss or without failiug to start the motor on the first turn ofthe crank. Have climbed hills on the high gear that have made a 50 h.p. ) come down to the low gears ; and my car has never been in lhe repair shop, H KÈt^^B Bmt 9rV Hl mt^SmVmmlrmmm mmmjfírallfmSmwl c K^ Sfl »™ Ia«_3l3s 55H5I BnlBulMBil You rs truly, ^l%?T^^mímw£si&U mu WÊ 'm ^HnH Wmm BK&áÍ£&i&»SMlk£HnHMM^V W. A. NORMAN, (».f South Plainfield, N.J., U.S.A . For demonstrations, etc., apply to any ofthe following representatives:— Fi'ed Figner, Rio de Janeiro. Hentz Coachman, 16—SO H.P. Reo IJght Touring Car. São Paulo. 35 Miles per hour. Five Passengers. Side entrance. 1 Detachable tonneau. Bromberg Sc Co., Rio Grande do Sul,.. REO MOTOR CAR COMPANY, La Roeque A Cie., LANSING, MICHIGAN, U.S.A. Pará. TF you want to make a delightful present •'¦send to Oraslileys for a case of JVIoet «& Chandon 1900 Vintag-e. Special Dry PURGEN - The ideal aperient. Champagn e. ¦ 464 THE BRAZILIAN REVIEW [April 23rd, 1907. THE BRAHMA BREWERY «— Rêcüliimend their Specialities: ^^^m 1 tk ^ m\m\ flSM, AINI> BRAHMA PORTER (The most Nourishing Beer in the World.) m~ MAKES APPETITE m~ GIVES STRENGTH FOOD xN JL1QUID FORM J^RlCADAi-ENCARRAfAt^N* """ ² —— ² i ^M»€»€»€»€»€» 43M3&^D5 RUA RUA Visconde de Sapucahy 104-142 Visconde de Sapucahy, 104-142 RIO DE JANEIRO RIO DE JANEIRO TELEPHONE IIi == CAIXA 1205 TELEPHONE 111 CAIXA 1205 Gold Medal S. Louis 1904 Gold Medal S. Louis 1904 WNIÍIINNll» .? been broken. As we sa.d last week the source of the étuul beentraced trouble has §tm to Mictheroy andas Federal infcervéntiòM in the prophylactic measures to be taken there, has been sanctioned ifc »f ^e director General is expected that with due precautions and the PnUUo iii l 1, 1 Tn** NVe.ek[lhei:et:u'"s of cool weather the ." h(T April 14th, I907*reas follows, eyiwill be eradicated. Atany rate the deaths since the y ,(>mc tude(1 fT, beffinnln» «on 11 f n • . ph,gue» 0; 8,na»-Pox, 0 ; measles 0 yell°W fe^er °nly amoimt to 19 or 3 '?l,te"a' ü; eougb, ?Lnneny?fí100,000 ofthe whole community pe? t?n 1lv "* /'"ooplug 1; influenza, 13 aud are far below the usual ; [ i^iberi. l leprosy, 0 numbers during the early months of the iasas ó3 jn mush J, fevers,fd^nte/*' ; ; erysipe* year. , 4; pulmonary diseases, 46. Total in- — The attention fechou., d.seases, 71 Violence publie is still fixed on the question of Mia (including suicides) 1 ? No - Beer acure. Various ofthe breweriôs have infectioua o.seases, JG7. Total deaths • been WMM new from all causes 238 brands ofbeers and these in their turn are to be he analvsed in *#&&*oí i9-73 & ws»: Municipal Uborafory. Various analyses have een ziuty:viiTf--\ ^ total number of by well known analyists made 20 8sí . 1I,,fft,í?118tl'eut,í;ent penses deaths and there seem to be great divergencies • »" hospitais: yellow fever, 2 ; small- between he resulte obtained by them pox,nnx 7 and, a bubonic!' 3, under and those of üfil! plague; observation 13 c.pahty all of them going to prove the harmlessness the Week bas been m«cli'coolerand It has been of thé beer SoineTvhórd?mnieTdM,Íng pointed out to us that it is perfectly easy if lM upPer Pftrfc of t^e suburbs such as tbe much sulphurous acd is found toô a w ií \r?; íhe' ÍJUOtt ina vat ofbeer, to introduce an ?f blankets "ave been necessary t alkaline which will completely remove tm^f.y'Stt he e™lli»g. all ill effects of the icM {fnnPQfhí?veico^-1-" If this cold weather con- he presence of which would not be detected on tmues tlie mosqu.to2s will either to sleep or arialysis "wouldThe go perish which is beer thus produced would be perfectly harmless hut recordas probably not he assparklmg as that to which we are aceust i,™i regards yellow fever has, during the las fc We cannot help thinking week orso that there must be aoSXing wi*ng íSWSa»^^^»»^^ pT^rTiTíat April 23rd, 1907.] THE BRAZILIAN REVIEW 465 in the analysis of the Municipal Laboratory, for surely no brewery would put in the amount of sulphurousaeid here that those c emselvesandearntheencomums are acredited with mixing in their beer for no ostensible to which we reter abov«> object whatsoever. A large proportion of this acid neither would increase the volume of the liquid nor make it more hl,ve been *~- rather MliMMmm^æ We i!,e-tou-r*wnothave often palatable ; the reverse, therefore what possible object ti said that in a few vpim could ¦ «. r. » ^^ 468 THE BRAZILIAN REVIEW [April 23rd, 1907. with discount and this new patchwork variety one has to keep leave the stocks of Messrs Yarrow shortly, their names being the a very sharp eye open. Xingu and Apa. ² Our eontemporary The linancial 7Vmessi\ys that a new ² A new landaulette has arrived from Paris for the use of Company lias been registered at Somerset House under the the President of tlie Republie. The vehicle is 24 H. P. and was name of "The Ta-Ta Company" and suggests that it has just built by Charron, Girardot et Voigt. looked in to say goodbye. It might also possibly apply to ² Among the recent arrivals in Rio is Mr. Fred M. Dean, the shekels invested by a trusting public. General Representative of (he Reo Motor Car Company of Lan- ² Tlie which Brazilian "WednesdayCônsul in Glasgow left for Scotland on sing, Micbigan, U.S.A. The Reo Motor Car Company thes.s. Thames on last to resume his duties. has at present tbe largest factory manufacturiug automobiles in ² Owing to the various questions which have arisen bet- the United Síates has an extensive export trade and such has ween the United States and Japan with regard to the treatment been the demand for their cars in South America that a special of immigrants from the latter country it is expected that the tide trip was necessary to care for their increasing interests. The ot eniigration from Japan will now be turned towards South Reo Company has agencies in Cuba, Porto Rico, Argentina, America. It lias been pointed out that the South American Chile and Ptru and it reports from customers are to be credited country, which from its geographieal position most commends the car is making an excellent name for itself. itself lo Japanese emigrants, is Chile. Already Chile and Japan To those who are not conversant witU the progress made have signt d a commercial treaty by which each grants to the in automobile manufacturing in the U. States itmay be interest- otber tlie most favoured nation treatment. We hope that Bra- ing to know that the Reo Company is at present turning out 35 zil will soon share in lhe influx of Japanese as she is almost cer- complete cars a day. During the past two years over 5000 Reos tain to do, for as we have already pointed out negotiations to have been sold and at present a force of 1400 men is rtquired to Íbis end luive been carried on íor some time. The moment build their output. The Reo has a great reputation as a hill when Japan is looking out for new fields for her emigrants climber and benee the car is especially well adapted for service «eems the moment for this country tostep in and as far as pos- ou rough mountainous roads. Strong elaims are also made sible fill the want. for its endurance and reliability owing to the uniformly satisfac- ² The Neivspaper Oivner says:—«We note an advertise- tory service it has given in the hands of unskilled owners and 'suitable aud endu- ment oíl» ringapartments' tora journalist ora Christian to the numerous victories won in American economy man." Why "or" ?» rance contests. Among the wins of which itis especially proud is famous run of 12,000 miles which it ² A short time ago a householder having been wakened the transcontinental from sleep by accomplished in 1905. someone walking about his hoitse he got up and 105 Rua encountering a strange man in the The Reo will be represented by Mr. Fred. Figner, passage fired his revolver Ouvidor, who will keep in stock a full line of Reos with a com- and wounded liim. Cn the arrival ofthe police the wounded man was taken to hospital and it was discovered that he was plete assortment of spare parts and accessories. a well known criminal. In spite of fact this the householder was Rio de Janeiro. Tlie Minister of Public Works has niarchtd off to prison and the process that will be made against autborised the Cantareira Company to contract with Messrs. liim will cost him a deal of time and great trouble. We should Walker and Co. to dredge the part ofthe Bay of Nictheroy that have ihoiight that lf a man who is a householder with wife, they wish to use for entry of their ferry boats to the new children and property to defend cannot be justified for such Central Pier. The work is to be concluded within four months. action it is time that hewas allowed to do so under the law. ² Dr. Cruz. Director General of Public Health, has come One's own natural feelings at íinding a burglar in one's rooms to an agreement with the Prefect of Nictheroy, Dr. Pereira would lead one (o oneself in the speediest and surest protect Ferraz, for the installation of a prophylatic station in that City manner possible and it seems a little unjust that in this case, for whilst tlie burglar the purpose of a campaign against yellow fever. The station is being carefully and comfortably treated by is to be under tbe direction of two doctors, one to be appointed nurses and doctors, the man who was detending himself in the interests of society by the Port Works Commission. The Island of Mocangué has should be marched off togaol. also been declared to be an infecfed área and the usual measures ² Lasl week we noticed the fact that alterations were to be made in the original will be taken to disinfect suspected premises. plans for the Port Works in order that the ² A Gymkhana was held on Sunday the 14th at the Inter- Saúde Dock might remai ii available. Now it appears that not only is this lhe national Club at Nictheroy which seems to have been a great case but that the dock is to be enlarged and im- success. There were Potato races, eggand spoon and other races proved so that it may be capable of holding the new huge bat- and ali thefun fair, tleships when they arrive. ofthe dancing ending up the day to the strains ² Dr. ofsweet music discoursed by the band from the Benjamin Ruy Barbosa and Dr. Eduardo Lisboa have now Constant. been formally appointed Delegates of Brazil atthe Hague Peace Conference. Dr. Ruy Barbosa left on the 19th inst on the s. s. Ulinas Geraes. Empiee Fibre Company. Deqj.ee Savoia and expects to arrive in Genoa on June 3rd. Dr. Lisboa n. 6,447 of 6th inst. gives power to above Co. to operate in coming from Lima will only arrive at the Hague on June 15th Brazil. or 16th. Tbe Conference will open on June 15th. ² The This Co. has a Charter frem the State of New York and a Chief of Police is very busy fixing on a site for the capital of 350,000 dollars in 35,000 shares new H ead of ten dollars each Office or Scotland Yard ofRio. The most favoured fully paid and now assessable. is the of at the position plot ground corner ot the rua dos In- Tbe principal objects ofthe Co. are to exploit pita fibre validos and the new Avenida Gomes Freire which would be and rice on a very large scale and by the most up to date sufficiently central. scientific methods. ² A new vessel for the Lloyd Brazileiro has just been laun- The Co. lias obtained a grant of a large traet of land from ched by Messrs Campbell, Laird of Birkenhead. The new ship the Government of is Minas Geraes as well as other favours. The called lhe Oyapoc and is intended for the Corumbá line. contract was signed last week in Bello Horizonte. She is 243 let t long, S6 feet beam, has a draít of 7. ft. 11 in. when The prime mover in this énterprise has been Alex. Keal- loadíd and a displactment of 1,400 tons. She also has a speed man, the well known broker of 15 of Santos, who got the capital 1/2 knots. The Oyapoc can carry 80 first class passengers, together during his visit to New York last 20 second and 200 third year. and is fitted with hydraulic cranes and The President oí the Co. is Mr. J. W. R. Eschmann who is electric lijilit and fans throughout. In a few days the sistership also President of the Arlington is to be laiuiclu Chemical Co. and interested in d and called the Javary, whilst two more ves- other big concerns in tbe United States, Vice seis, also intended for the President Mr. D. Corumbá and Cuyabií trade, will R. Smart. The plantation Manager is Dr. Theophilo Ribeiro HORLICK'S MALTED MILK Composition : Horlick's Malted Milk is a purê food prepared from rich full-cream milk combmed Avith the valuable nutri tive extracts ot malted barley and wheat The product bemg highly concentrated and partially predigested supplies the amount the Jeast greatest of nutrition with tax upon the digestive organs. It is in a convenientpowdered form, delicious to the taste and prepared by simply adding water. No milk or cooking required. ' For Infante: Horlick's Malted Milk supplies ali the elements of nutrition in the proper proportion for the perfect development of infants, and, by its use, those fed free upon it are sin- gularly from Cholera mfantuin,Marasmus,Diarrhoea,Dysentery .and other fatal diseases so often mduced by feeding on impme.diseased or adulterated milk or by using improperly constitutêd cooked or semi- starchy loods. The milk contained in our food product is obtained from our own dairies which are under our immediate and rigid supervision.and is thoroughly oí manufacture. pasteurized during the process In addition, the casem or cheesy portion is so modified by our special method of manufacture, that it will not coagulate in the stomach, like raw cow's milk, but forms into noeculent consistency, a lieht like the proteids of mother's milk, and is as easily digested The product contains no starch, cane sugar, or other harmful ingredients, and will keep ass perfectly in the sealed g jars m which it is put up. Our files contain thousands of unsolicited testimonials from leadina' physicians which, together with a vast collection of photographs of healthy, well developed infants that have been reared entirely upon our food product, attest that Horliclfs --. lJ«s long Malted Milk ., -- _ passed the experimental stage. The actual showing of practical results for manv proves that it is second only to| normal mother's milk. -uaiiy yeaisvears HORLICK'S MALTED MILK COMPANY. RACINE. WIS., USA General Agent: PAUL J. CHRISTüPH, 123, RUA GENERAL CÂMARA, 123 RIO DE' JANEIRO April 23rd, 1907] THE BRAZILIAN REVIEW 467 of Bello Horizonte. Mr. Alex Kealman holds the procuration of the Company for Brazil. We are told tbat this is the first time American Capital JlmsNítt %m% has been brought to Brazil to exploit agricultural products. Arrivais and Departures during the week: íSão J?anlo. Dr. Carlos Botelho, Secretary of Agri- culturehas decided to found an exclusively German colony AltRIVALS amongst tbe new settlements which he intends to esíablish. By the s.s. Nilc, from Southampton, on April 16th.— J. Coxwell The Deutsche Zeitung of São Paulo applauds this resolution of and family, C. A. Forbes, C. Richardson, F. J. Egan and wife. the Secretary and says that it will certainly be ..ttended by the Bythes.-. Oronsa, from Liverpool, on April 17th.—M. A. Derby- sliiré and family. bestresults. This grouping of iraníigrants of one nation and make for By tlie s.s. Thames, from Buenos Asres, on April 17th—J. Maw, speech will the prosperity of the colony in which they S. Levy, E. Spalding, VV. Campbell, are established, for they will J. Mellon and wife, C. King, WA work together without any racial Cole aud wife,. C. Roger, A. Geiken, il. Saudall, A. Wurslow, A. feelings being excited. By this means, too, imniiirration will Purcell. be encouraged, for if other intending immigrants hear tbat they will be able to go from "home to liome", as tbe hotel DICPAKTURIÍS advert;semenls have it, they will be more ready to leave the By tlie s.s. Savoiá, for Ganoa, on April lõtli.—Baron vou Treutler, fatherland. The German, it has been said, more readily assimi- late German Minister to Hrazil, Mary Donovan . lates himselfto the country of By the s.s. Nilc, for Buenos Aires, ou April 16tli.—H. Broad, F. his adoptioii than any other C. Amer and wife, A. immigrant but there is no rea sou Dickinsou and ohèohild, A. Sullivan. why the experiment o'"Dr. By the s.s. Ikames, for Soullnimpton, on April 18th.—M. Darlaud, Botelho should not be extended to other nafions as well. At M. Bouner, b. Degán, and family, K. Lord, O. Raymond. present the ininiigrants settled in the State of São Paulo count By the <-*.s. Gimovis, for sew York, on Aoril 18th.—Rev. Mr. amongst their number some 1,500,000 Italians so that it will Kyte and wife, M. Landis, E. E. Wiglitman, I. Elbàs. be a good thing for the country to have this new blood brought By the s.s. Oropesa, for Liverpool on April 19th.—F. Morton and in for the mutual benefit of ali concerned. family, J. H. Jeííreys, E. A. Tootal, H. A. G. Hampshire and wife, D. Law, H. Parkes. ² It is statedthatMr. C. E. Gidding, of the United States, who is at present in São Paulo, intends to exploit the lumber Capilai fully paid illarlcs 200,000,000 (£10,000,000) Reserve l^micl 100,000,000 ( £5,000,000) BRANCHES: LONDON, BREMEN, DRESDEN, FRANKFORT-ON-THE-MAJN, HAMBURG, LE1PSIC, MUNICH, NUREMBERG & WIESBADEN Analysis of the Yearly Report Presenteei to the Shareholders at the Thirty-Seventh Ordinary General Meeting, held in Berlin on the 27th March, 1907 Tlie net profits ofthe Yeai 1906, aniounting to : — The German Bank Eate of discount has averaged 5-14 *£ 1,4 57,394 per represent 14-57 per cent. oi, the paid-up Capital cent., or 1-33 cent. higher than in the the - of £10,000,000, per previous year ; and are to be appropriated as average private discount rate lias risen from 2-85 cent. in follows : — per 1905 to 4-04 per cent. in 1906. On Stock Exchange loans against £1,100,000 to Dividend of 12 per cent. to Shareholdeis first-class securities we have received 011 an average 5-12 per (including proportion payable on new shares) cent., against 4-03 in tlie preceding year. 145,072 to Beserves. We continue to hold as heretofore important amountsof 44,032 to Directors. German Government Securities and Treâsury Bills, and the 112,500 to Superannuation Fund and Gratuities to increase in this item in our Balance Sheet as compared with StafF. last year consists entirely of such investments. 55,790 carried forward to New Account. Tlie turnover of the Bank in the past year amounted to £1,457,394 £4,279,500,000, against £3,860,000,000 in 1905. The number of current, deposit, and other accounts open Universal industrial activity and staénation on the Boursea in the books of the Bank has increased during the past year have been the írom 139,451 to 164,494. predeminant characterislies ofthe past year ' the thirty-seventh of* our Bank's existence. -' Our staff lias increased from 3,693 in 1905 to 4,096 at the In our Animal end of 1906. Report for the previous year we pointed out that, not only in the United States, but also in Europe and We have paid in respect of taxes and rates £108,257, and in espec.ally in Geimany, lhe creation oímw undertakings and addition thereto have also expended and cliarged to our cliente securities had progressid at a greater rate than the a total of £260,258 for various stamp duties. capital. 'Uns growth of fact has been still more in evidence during (he In view of the appioaching completion of our additional year under review, and has sensibly affected economie develon- buildings now being construeted for the accommodation of our ment in all directions. Increasing difficullies attending business in Berlin, and also in view of certain expenditure sale of highrolass the securities carry ing fixed rates of interest have rendered necessary by similar extensions at certain of our Bran- eompelled German Municipal Authorities to issue 4 ches, it is proposed to write ofl" the sum of £110,843 from our in per cent place ol 3 1/2 per cent. loans, and correspondi «gly enhanced Premises Account. terms have li«d to be paid by Industrial Corporations seekiiic The (ransmarine business of our offices in London, Ham- borrow 11, the to burg market. A scareity of buyers of shares has also and Bremen lias continued to develop satisfactorily. Òw- been prevalent, which seemed to disappear only temporarily ing to the increased value of money the receipts of our Branches the late in autumn after the good harvest. Generally speakim; in London and Hamburg from discount transactions and quotations o shares have fallen in lhe same way advances against securities especialiy beneíited. bonds as those of notw.thstandmg that manufaeturing companies The Deutsche Ueberseeische Bank Aleman Trans- enjoyed have (Banco great prosperity and in numerous instances have atlântico) has achieved very satisfv.ctory results, and to higher dividends. paid a dividend proposes Under all these circumstances it was not pay of 9 per cent. for 1906, against 8 per cent. for difficult to find remunerative employment for the large 1905. New Branches have been opened at Callao and of funds volume Arequi- entruated to our care, but, on the other hand pa in Peru ; at Tucuman in Argentina at Puerto sequence in con- ; Montt in ol excessive competition, comparalively high Chili, and at Monte Vídeo in Uruguay. The business interest have rates of of the had to be bonified on crédit balances and branch at México has been transferred to a new institution lhe bu.d.ng deposits trade and borrowers on real estale established with the co-operation of American and to feel the increasing were the fi rs Mexican scareity of investn.ent funds, which interests as á Mexican Joint-Stock Bank. of course, also has been experienced by manufacturers íy The head ofthe banking firm, Guillermo Vogel whose capital requ.rements genera and Co. have largely increased consequent Madrid, in which we had aconimandite interest,having decided upon lhe activity ] to retire, great prevailing in industrial circles TI e that business which lias been carried on successfully r.se 111 the cost of raw materiais has in numerous 111 Spain íor many years, will be transformed exceeded cases lar into a Branch of lhe increase in the prices ol the manufactured the Banco Aleman Transatlântico 111 the and goods Spanish capital as market quotations, for instance, of soine ofthe írom April 2 next. metais have now pri neii reached a levei whieh must exercise a iéstr Our accounts now presented include dividends tive efifect 011 their consurnption. Cc paid to us 111 respect of the year 1905 011 our shares in the Banco Aleman that wh!,st the ImP0rts incrensed Transatlântico (8 %), Bergisch Maerkische Bank ]72"0/i) bybv £36^iTníí 100,000 min"118? and nthe H$- Exports Schlesische Bankverein 0/o), (8 by £19,700,000, the ™excess of (7 i/2 HannoverscheBank (6 1/2 °°) ««.«w»» Duisburg Ruhrorter ..»..,„. {,j /(J| üssener üankverein l7 ^zmon,>EsiiiH*8b,d00 000 in 1906. > *ss> (7 ) ^mmfwmThese figures certainly reílect increased Essener Credit-Anstalt (8 1/2 %), Rheinische Crédit Bank prosperity, but also may °L (7offi\!nli ' be regarded in the light of a S ng Emper Bank 9 , Niederlausit/erRrP^if.,,,,/! v he influence of the Oldenburgische °/0), m same circumstancesIffecting bus et Spar-und Leihbank (9 Süddeutsche °/0) Bank (b 70), Deutsche Treuhand Gesellschaft (15 united btates oí America, All these institutions 1 where, notwilhstandine- n have distributed dividends equal to splendid harvest and unsurpassed industrial activity or higher than those of the of securities .qiota fo,i8 preceding year, and are continuing have declined in numerous instances, i'peSuSS to make good progress. b lack of sufficient capital has made itself felt, andhe ,nS The important augmentation of our share interest important Rai way Companies in allied in the Union have been com mstitutionsis due chiefly to the increase of the capital pelled to issue bonds at rates Bergisch ofthe of interest at least 1 per cent hh er Maerkische Bank from M.60,000,000 (£3 000 OOOUo than usually paid on such Joans. v^nt.wguei M.75,000,000 (£3,750,000), we ourselves having1 taken up Which have ot new the ^a^!hf n^lf Siven lise to the present straiiiod proportion shares to which we were entitled position of the Money markets ofthe world are not I« addition to this we have increased ary nature, of a terauor our holding of shares but can be removed only gradually by ecouomv of the Essener Cred.t Anstalt and ofthe Niederlausitzer retrenchment, we can wid" Kredit- scarcely hope for a continuation diu** uiid Sparbank. I urthermore, we have acquired a °Uhe 1.11 tlie capitais participalion P'CSC,,t P"»P""y. nbWllhalá.íâín.5 oí the Braunschweigische Privatbank and of the U^faZZahsence so lar of excessive speculation. Wurtemberg.sche Vereinsbank, whhh latter institution has been in fnendly relations with us for many Finally have completed years. we payment in full on the shares Series IV of the Banco Aleman Transatlântico, and have also paid a second April 23rd, 1907.] THE BRAZILIAN REVIEW 469 instalment of 25 cent. on shares of the Süddeutsche Bank per Street, E. C, is prepared forthwith to pay the 1906 coupon, to the nominal value of M.2,000,000. amounting to— The current value of the shares held by us in these allied ia per cent. on the nominal value of the Shares, of £3,000,000 Banks exceeds by upwards the amount at which Series I.—IX., 2 per cent. on the nominal value of the Shares, they figure in our Balance Sheet. Series X., at the Exchange of the day, less Income Tax. The Electric Elevatedand Underground Railway Company The original report (in German), giving full and detailed of Berlin which paid its shareholders 4 1/2 per cent. in respect information respecting the Bank's operations, investments and of the year 1905 should, for the year 1906, be able to distribute accounts, may be obtained on application at the above address. a still better rate of dividend. The traffic receipts of the line continue to expand, and theundertaking has acquired increased popularity from the tact that, notwithstanding the heavy snow- storms ofthe past winter,the service has been fully maintained, with the exception of a short interruption of less than three hours. The construction ofthe section from Potsdamer Plata in the centre of the City to the Spittelmarkt is being pushed SRn forward energetically from both ends. PETRÓPOLIS The receipts of the Oriental Railways, whose shares have been successfully introduced upon the German and Swiss Bourses, have again been satisfactory, and will permit of a somewhat higher dividend being distributed in respect of the This important and healthy suburb of past year. Those of the Macedonian Lines have also been good the CityofRiodeJaneiro,is situated but the traffic returns of the Ana tolhi Railway have somewhat amongst diminished in consequence of the bad harvestexperienced in the the hills to the North at an altitude of districts served by that Company, which, however, will never- 826 metres (about 2,700 ft.) above the levei theless pay the sarne dividend (6 per cent.) as before. The Bank has taken part in the issue ot a German Imperial of the sea. 1/2 °/0 and Prussian Consolidated 3 1/2 °/0, Bavarian 3 1/2 %Of PETRÓPOLIS is an extremely Würtemberg 3 1/2 °/0, Chilian 4 1/2 °/0, and Peruvian 6 °/0 Gov pictu- ernment Loans, and in the issue of Loans of the Municipalities resque city with good drainage and water of Berlin, Charlottenburg, Bonn,Cologne,Duisburg, Düsseldorf, supply, and lighted by electricity. It is the Leipsic, Magdebunr, Mannheim, Munich, and other places, as also in the issues of Chicago Rock Island and Pacific Railway fashionable suburb and summer resort, the °/0 Ug °/0> íin& Southern Pacific Railway 4 Bonds, and many nights being always cool, even in mid-sum- other operations of more orless local interest. The gross profits for the year 1906, including the balance of jãjfô mer. The Hotels are excellent. £52,036 brought forward from 1905, amount to £2,497,652. Steamers, the of the Leopol- After deducting ali expenses, writing off £129,616 from Premi- property dina Railway Co., leave Prainha Wharf ses and Furniture Accounts, and making due provision for ali |§ bad and doubttul debts, there remains a net proíit of £1,457,394, > at 6.30 a.m. and 4 p.m. daily for an hour's which it is proposed to apropriate as above stated, carry ing forward the balance of £55,790. The Reserve Funds by the Jz journey across the Bay to Mauá, when pas- proposed addition of £145,072 will be brought up to atolai of || sengers are transferred to a train which £5,000,000, equal to 50 per cent. of the Bánk's paid-up Capital of £10,000,000. A. Gwinner, E. Heinemann, C. Klõnne, arrives at Petrópolis at 8 5b a.m. and 6.10 R. Koch, P. Mdnkiewitz, L. Roland-Duche, G. Schroeter. Return trains from Petrópolis by the Berlin, February 1907. p.m. Bay route leave daily at 7.30 a.m. and 4.30 p.m. The steamers are fitted with every General Balance Mlieet. December 31»t, 1906 convenience, restaurant, bufifet, etc. The MARK 20 = £1 return fare, during working days, LIABILITIES available Dr. £ for J0 days inclnding tax, is 9$õ00, and To Capital 10,000,000 7$200 Reserve Funds 4,854,928 on holidays, feastdays and sun- Current Accounts and Deposits b2,5^7,206 days. BilLs Payable 11,305,504 Unclaimed Dividends 1,652 Petrópolis is also served by a railway Dr. G. Von Siemens Fund 254,909 Sundiies 231,472 route (a branch of the Leopoldina Railway) Proíit and Loss Account 1,457,394 which runs rour.d the Bay in combination Ccmtingent Liability on Guarant.es given on Account Customers, £3,176,705. with the Central Railway.Trains leave Central Station at 8.05 a.m., 90,643,125 4.30 p.m., and 6.35 asse rs p.m. daily (S. Francisco at 8.35 a.m., 5 and À Cr. £ 7 and return from Petrópolis at 6 a.m., By Cash 4,347,673 p.m.), Foreign Coin, Coupons, aud Drawn Bonds in course of 9.25 a.m., and 4 p.m. Return tickets by this Collection 1,178,102 Cash Balances with Banks and Rankers 3,953,044 route, available only for three days, in- Bills Receivable and Tréasury Bills. 27,020,490 ciuding tax, 6$000. Government Railway and other Investments 3,621,Òó4 Shares of Allied Banks 3,999,486 The ascent of the range of hills to reach Stock Exchange Loans 11,386,082 - 'Advances secured by Collateral Security 22,178,317 Petrópolis by the Leopoldina Railway is Deb.tors on Current Accounts 6,601,756 made by the Riggenbach Rack Loans on Goods, &c 2,891,165 system on |j| Syndicates 2,267,077 one of the heaviest in 6-1/2) of Investments of the Dr. G. von sjemetis Pension Fund. 215,f)75 gradients (1 ^ Bank Premises 1,0"2,584 any moimtain railway in the vorld, so that % Furniture and Fittings 20 the route is interesting and the scenery 90,643,125 extremely picturesque. Proíit and Loss Account, December 31st, 1906 Dr. £ i-:o-% a To General Expenses 910,642 „ (Including £108,258 Rates and Taxed ) Amount written off Furniture and Premises Account.. 129,616 Net Proíit 1,457,394 Tlie Magazine oí Commerce is the best and most influen- 2,497,652 produced tial illustrated devoted Cr. £ publication to ' the interests of British By Balance from 1905 52,036 trade. The Gross Proíit for 1906 :— £ subscription rate is 12/- per annum, Interest, Discount, Dividends and Exchange 1,416,670 post free, and orders may be addressed Commission 638,219 to Messrs, Crashley & Co., Ouvidor 36, Proíit on Investments and Sundries 390,727 2,445,616 —who will be pleased to seud single 2,497,652 specimen copy on receipt of l/-stamps. ¦aoft^oaitaiianMMMaKtjftfNKsaraKasi The foregoing Report and Accounts having been adopted by the General Meeting of Shareholders held on March 27th PURGEN - The ideal aperient. 1907 the LONDON AGENCY, 4 George Yard, Lombard t 23rd, 1907. 470 THE BRAZILIAN REVIEW [April ABRIDGED REPORT OF THE DIRECTORS OF THE DRESD K - - Fuerth - Hanover- Buckeburg - Detmold — Berlin I ««don - Frankfort - Hamburg - Bremeu Nuremberg Dresden -Chemnlt. - - Altona - ZWickau - Plauen - Emden- Mun.eh Mannheim L«bee\ - - Augsburg - Freiburg i Br, - Heidelberg - Bautsen Grei* Meissen Ordinary General Meeting, To be presented to the Shareholders at their Thirty-fourth to be held at the Offices in Dresden on the 30th March 1907 Capital ITull.v Paid. 31-arlcs 180,000,000 (£9,000,000) Reserve Fund 9? 51,500,000 (£2,5759ooo) rate of interest ofthe Imperial Bank beg to report that out of tlie for the year ending 3 137 per cent in 1904. Tbe We profits 5.14 cent., as against 3.81 per December 31, 1906, we recommend a dividend of 8 i/s per cent., of Germany has averaged per cent,, in 1905 and 4.22 per cent. in 1904. The rate was changed being at tlie same rate as for 1905. * early as October IU not include tbe revenue derived in the course of the year six times, rising as Tbe gross proíits shown do cent. lhe fact "Investments in. other Banks" for tbe to 6 cent. and on December 18 «ven to 7 per from (he account year per cent. has been in lhe accounts for 1907. that in the new vear a reduction to only 6 per 1906, which will be credited in force beyond to M. 58,600,688,631-10, as against made, and that such rate is likely to remain Tlie turnover amounts industrial activity to in 1905. tbe close of the first quarter, submits the M. 53,211,002,401-75 reports relating to nearly aU tbe course of tbe under review we opened a branch a severe test. In the meantime In year to Istate that orders in hand Augsburg, by taking over the old-established banking house branches of manufactare continue at satisfactory employment for a of Mr. Paul von Stetten, while siib-branches were opened at appear to insure to the works tiglitnesss of money should Freiburg i/Br., Heidelberg, Bautzen, Greiz, and Meissen. The lengfhy period, even though tbe business, and in to y cur- number of local branches at Berlin and suburbs has been in- lead to a restriction of fresh particular of 29. As it is our to at once taibnent of building operations. creased by 10 to n total practice our again con- entire installation expenses in connection with General banking busin3ss, as evidenced by write off'the results of in- tbe sum set aside for tbis purpose in 1906 has siderablv increased turnover and the gratifying such extensions, * a large measure tbe rather large figure of M. 610,531,40. terest and Bills Receivable Account, enjoyed reached services were called upon The apprehensions, which found expression in several of activity. In a growing degree our economic for the financing of our domestic and foreign trade, chiefly the quarters at the beginning of tbe year as regards tbe anticipated in Ibe 1906, bave not materialised. latter, to which our newly established offices of the Deutsche conditions year Bank the satisfactory conclusion of the Algeciras Oonference, Orientbank and Deutsch-Sudamerikanisdie contributed, After is due the clouds which bad on tbe political horizon were and tbe considerable increase of our Acceptance Account gathered of Com- dispersed, and confidenee in tbe of peace among to these causes. Tbe fact that nevertheless the yield preseryution increase tbe Great Powers strongíy reasserted itself. Calmei* views were mi.-sion Account shows but a comparatively uioderate last an also taken as regards tbe situation in our great neighbouring is explainéd partly by there háviV.g acerued to us year we are bound by economic ties of exceptionally large revenue in tbe shape of commission from empire Rússia, to which 3/4 iniportance. some special trausactiohs, amounting to 1 million Marks, great our and Turning to another page of the year's hisfory we have to and partly by a falling off in tbe returns of stock ge- refer to tlie unwelcome rise in the rates of interest for loans, neral commission business, this being tbe only account in res- not only in Germany, but, on ali iuteruational money markets, pect of which the turnover has declined compared with the pre- tbe only exception being France, which, however, owes tbe vious year. advantage of cbeaper money chiefly to the less pronounced In view ot the general increase of our business, and having activity ot its industries. special regard to tbe growth of debtors in Current Account, In Germany tbe large earnings of industries were in a Acceptance Account, and investment in other banks, we deern- measure absorbed by monetary requirements in connection ed it expedient towards the end of the year to increase our witb extension of factories and the larger demands for work- share capital by the issue of Marks 20,000,000 — the new shares ing capital. The importa tion of raw material made important carrying dividend from January 1, 1907 — thus raising our ca- ciai ms on tbe Money market, partl.y as regards tbe increased pitai to Marks 180,000,000. Tbe new shares were offered to the quantities of goods imported,but principally owing to the high- old shareholders by a syndicate, formed for this purpose, at 142 er prices ruling for such staples as eoppèr, zi.nç, cotton, etc, per cent. The financial operation involved in this issue leaves a espeoially as an increasing percentage of tbe same was needed, surplus of Marks 7,300,000, which has been placed to Reserve ''the not for purposes of exports, but for the satisfaction of domestic I^und A, raising tbis ordinary reserve) to Marks 41,800,000. requirements. In order to show tbe iniportance of lhe figures The reserve Fund B stood on December 31, 1906, at Marks involved in these operations we. may reler to official statisties 8,350,000, and we recc^fnnend appropriating to it tbe sum of showing already in the year 1905 an excess of imports over ex- Marks 1,350,000 out of last yea,!*'s earnings, raising this fund to ports of 1,397 million Marks (without counting tbe precious Marks 9,700,000. Our total .Reserves will then stand at Marks metais), which excess in tbe year 1906 has grown to 1,725 million 51,500,000, being 28-61 per cent. of our Share Capital. For the Marks, or an increase of 328 million Marks. Then again, there same reasons as set out on our own behalf, our friends, the A. were tbe continuous demands on tbe European Money markets Schaaífhausen'scher Bankverein, have increased their share by tb« crédit requirements of tbe United States; while, as re- capital by a like amount of Marks 20,000,000. gards Germany in particular, large sunis had to be remitted by The year under review was less favourable for stock and the German t* ire Insurance Companies in satisfaction of claims syndicate business, tbe general situation making it adviaable to consequent upon tbe San Francisco catastropbe. observe caution in entering into fresh engageineiits. The profit A number of adverse factors contributed to accentuate the shown on these accounts is therefore materially less than in tension in our money market, which it will be tbe task of our 1905, and is mainly accounted for by the realisation of old hold- legislafive and administrai ive authorities to remedy. We refer in ings. the first. place to the technical impei-fecth.ns of our monetary Dresden, March 1907. of cheques, and customs, which, owingtotheinadequateu.se E. Ouhnann. Arnstàdt. O. Klemperer. Dalchoiv. Mueller. tlie greater concentration of payments at tbe end of each L. Von Steiger. Nathan. Schuster. quarter than is usual in other countries, necessitaies an exces- of cürrency. Secondly, to tbe increased bor- sive displacement The full Report (in German) may be obtained on appli- on the State and Municipal bodies which is in rowing parto! cation at the London Office, No. 65 Old Broad Street, E. C. in verse ratio to the decreasing demand of investors for internai bonds. Balance Sheet. December ttlst. 1906 A tendency on the part of Municipal bodiés is gaining 20 MARKS = £ I. ground to extend their activity to fields which formerly were LIABILITIES left fo private enterprise, and this is calculated gradually to De. £ overburden tbe market for investment securities to such an ex- To Share Capital 9,000,000 tenfas to its power of absorption of German State Reserve Fund $ 2,090,000 prejudico » » B-¦•-¦•• 417,500 Loans. Current Accounts anil Deposits 30 we would mention the unfortunate consequences 913 878 Tbirdly, "outlawed" Acceptances against Credits aud Securities 10* 294566 of our faulty Bourse laws. The effect of having Besides Guarantees for a/c of third parties £1,513,801 speculation at home, insteadof lessening tbe speculative pro- Dividends unpaid 1 07S force into Pension Funds 122059 pensities ofthe public, has been rather to them more channels abroad. Adjustment of Brauches 24569 házaidous Plofit 1,096^98 The private discount rate on the Berlin Bourse has ave- raged 4.0433 per cent., as against 2.8445 per cent. in 1905 and 53,960,648 *.z>> April 23rd, 1907.] THE BRAZILIAN REVIEW 471 ASSETS Cr. £ The London By Instalmeiits on new Capital issue due 008,850 & River Plate Bank Ltd. Cash 2,217,262 Bills Receivable 12,131,322 Ca»h Balances with other Banks and Bankers 1,707,775 ESTABLISHED 486» Loans 8,091,809 Iuvestments in other Banks 1,265,713 Government Securities, Kailway aud other Bonds and Subscribed Capital. £ 1,500,000 Shares © 2,856,786 '£ Current Accounts W 21.452,454 Realize d do 900,000 Of which covered £14,970,444 Reserve Fund £ 1,100,000 Besides Guarantees for account of third parties 1,513,801 Syndicates 2,487,459 Bank Premises 1,019,337 Funds Securities 121,881 Pension TO and 2i5 RTJA 1>A ALFÂNDEGA 53,900,048 AND Profit and L.oss Account 82, RTJA DA QUXTAJN.r>A 82 Dr, To Current Expenses 397,454 Taxes 55,791 Amount written off Furniture, Fittings, etc.... 31,220 Amount written off Current Accouuts 1,970 And at London — Paris — New York, A. Schaaffhausenscher Bankverein's Share in the Profit of our Frankfort Branch 17,235 Santos, São Paulo, Pernambuco, Pará, Profit 1,096,998 Buenos Aires, Rosário, Mendoza, Concórdia, 1,600,668 Bahia Blanca, Barracas, ««' £ Cr. Montevidéo, Paysandú, Salto By Balance from 1904 3,573 and Valparaiso. Profit Adjustment with A. Schaaflhausenscher Bank- verein as per contract 37,696 Gross Profit, 1906 1,559,399 1,600,668 A ppropri sitiou AGKNCIE» IIV BRAZIL £ To Amount written off Bank Premises 50,000 Manáos, Maranhão, Ceará, Maceió, Bahia, Victoria, Reserve Fund % , 67,500 Curityba, Rio Grande do Sul, Pelotas and Porto Alegre. Directors .." , 48,397 Managers and Branch Managers 150,483 Correspondents in ali other chief towns of Brazil. Gratuitiea to Staff , 66,500 Pension Fund 10,627 Dividend of 8 Va % to ÍShareholders on £ 8,000,000. 680,000 Profit and Loss New Account 23,491 BILLS OF EXCHANGE issued and purchased on the 1,096,998 following places:— LONDON and ali the principal towns of the UNITED By Amount in hand as per profit and Loss Account. 1,096,998 KINGDOM. .1,096,998 PARIS and ali the principal towns of TRANCE and of GERMANY, PORTUGAL and ITALY also on the ARGEN- FOWLER, SCROGGIE TINE REPUBLIC, URUGUAY.CHILE, UNITED STATES, & CO. CANADA and JAPAN. Railway and General Auditors Incorporated Accountants and Agents Buenos Aires, Rosário and Mortevidéo opened with commercial firnis T. B. D. FOWLER, F. S. A. A. V. G. G. SCROGGIE, F. S. A. A. CURRENT ACCOUNTS G. WINTER, A. S. A. A. T. C. E. FOWLER. A. S. A. A. and private individuais. And a large stall o! Competent Assistants and Exports DEPOSITS received for fixed periods or at 30 days notice of withdrawal'. Ondertake luvestigations aud Reports on Public Companies' Accounts in the Argentine, Uruguayau, Chiliau, Brazilian LETTERS OF CREDIT issued. and other South American Republics; also legal representado» of STOCK and SHARE ORDERS executed and every des- Companies, Firnis, or others. cription of bauking business conducted. Head Office: to the Bank. SPEíIALITIES : Reeovery of Glycerine Petroleum from irhnle, Extraction of Oils, Tannin & Dyewoods from seeds, woods etc. from Épop Liquors. Manutacture of Carbide of Calcium. RepnWic Chemical Lahoratory anel 1eclmical Office : Mercedes (B. A.) Argentine 1671, Correspondence invited from any _ Casilla Correo No. Buenos Aires. part of Brazil. | ^ *Ê 1907, 472 THE BRAZILIAN REVIEW [April 23rd, " ¦«¦¦ ¦ um ¦¦!¦!¦ jLL-Jg—'1- jggptgmammmmmMMMMm AUTQMOBILES BERÜET ip$W i OF LYONS (France) " « MICHELIN — PNEUMAT1C TYRES J If llfti SII Prosperity and ÇYC5JL1BS—VOITURBTTBS I \l Sicknéss are Bedfellows! OF poor If you ave ill you cannot do good LES FJLS DE PEUGEOT FRÈRES work! If you feel weary, tortured by headacke and bad digestioh, if jrõií are nervous, it ia because your circulation is wrong. DELAY IS DANGEROUS! TAKE AT ONCE REUTERS LITTLE PILLS, I ihat make the Llver ivork, stimu-. late the circulation and make you feel joüy as u schoolboy, for good blood makes the musclcs rrí.::":^J elastic, clears the Eyes and Brain. ?• Agents:- Antunes dos Santos & Co. Reuter's Little Pills Maintain Vital Force ! 14, AVENIDA CENTRAL, 14 Rio db Janeiro Agents : De La Balze & Co., 72, Rua S. Pedro NAO PAULO—SANTOS RIO DID JAJXIDIRO (Established 1881) CRASHLEY & CO. mmmjM mTHE ONLY ENGLISH STORE IN RIO. «wjsaawr»»!**!*^*»" ws*} Agents for Redda\vay's Beíting. Mellin's F^od. Wilkiuson's Whiskies. Bordeaux Wines. English Bcck? i rcbnitz always ou hand. Special Works to order. Subscriptions received for ali English and American papers. P. 0. llox 906 RUA DO OUVIDOR NO. 36. Telegrams, "CRASHLEY"--RIO NeuGhatel Âsphalte Company, Limited RUA SliNADOR VERGUEIRO No. 6] HEAD OFFICE—LONDON RIO DE! JANEIRO P. O. llox 1,185 Constructors of ali classes of Natural Âsphalte Pavements TO PliOPRIETORS:- CJndertakes, with. tlie consent of tlie Prefeitura o tlie JTederal District, tlie construction of side pavements in tliis city. Infor- míition regarding sncli work to be obtained at the Prefeitura. a—ram—ptagraesa—maneai COMMERCIAL AND PASSENGERS' GUIDE Automobiles Furniture Martini —Delivery cars, 700 to 10,000 k"S.— De Luxe cars Lieencc Roeliet-Schiieider.—Blum & Co., 52 Rua ]° de MarçoJ Rio 12-2-07 Cofíee Mercliaats Photographers Ornstein «fc Co.— Rio—15; Rua Acre. Cable address : Ornstein. 3-8-0G A Post Cards, Views and Albums Curiosities Illaison Chie. — Latest Novelties —144, Avenida Central —Rio. yyil 19-2-07 A. «Jaeofo.sen, I\atté's Snccessor.—30, Rua do Ouvidor—Rio. Roofing Feather flowers, Fans, Iusècts, Birds and other curiosities of Brazilian Natural History, Awards Etcrnit—-Tlie best roof of the Present. For Particulars applvto — Visws ofRio. gained at several exhibitions. Blum & Co., 52, Rua Io — Grana Prix at the íSt. Louis Exhibition. de Março Rio. 12-2-07 29-1-07 Rubber Hand Stamps S. F. Longstreth. — Office and Works —16, Travesssa do Ouvidor Drugs, Dyes and Chemicals Rio—lst floor. 27-7-06 Farfoenfaforiken — yormals friedr. Bayer & Co., Elberfeld (Germany)—Agents: Blum & Co.— 52, Rua Io de Março—Rio. Typewriters 19-2-07 "Underwood"— Casa Edison—105, Rua do Ouvidor-^Rio. 12-2-07 Electrical goods Watches and Jewelry —Rio. H. Smyth.— English Electrical Supplies. 115, Rua do Rosário "Omega"—Oscar Machado—67 A, Rua do Ouvidor—Rio—Watches 27.7-06 Clocks and Jewelry of fiuest fcaste. 19-2-07 THE BRAZILIAN REVIEW 473 [April 23rd, 1907. BRADBURY, WILKINSON & GO., LTD., * 25/27, FARRINGDON ROAD, LONDON, E.C. GRAND PRIX, PARIS, 1900. Engravers and Printers of I ESPECIALIDADES DA CASA. BANK NOTES. ' Gravação e Impressão de POSTAGE AND REVENUE STAMPS. BILHETES DE BANCO. ESTAMPILHAS. SELLOS DE CORREIO. BONDS. SHARES. BILLS OF EXCHANGE. CHEQUES. DEPOSIT RECEIPTS. TRADE-MARK LABELS. BONOS. ACCÕES. TÍTULOS EM GERAL. LETRAS DE CAMBIO. CHEQUES. RECIBOS DE DEPOSITO. HIGH-CLASS PLATE PRINTING. ETIQUETAS DE MARCAS REGISTRADAS OBRAS CHALCOGRAFICAS FINAS. MOST MO^p N SAFEGUARD^ ADODTED, MAKING ',y íL PHOTOGRA JHY, OF n R PRODUCTION, BY &c , ESTA CASA T M ADOPTADO OS METHODOS MAIS WO O THI3 FIRM PRACTICAlLY IMP SSiBLE. MODERNOS E A ERFEIÇOADOS PARA SALVAGUARDAR SEUS TRABALHOS CONTRA TODA POSSIBILIDADE DE IMITAÇÃO PHOTOGRAPHICA DE MANEIRA A TORNALA IMPOSSÍVEL. CLiENTS IN ALL PARTS OF THE WORLD-NOTABLY Q ASI BRAZIL, ARGENTINA, MÉXICO, AND OTHER LATIN- PA EM TODAS AS AMERICAN REPUBLICS, THE VARIOUS COUNTRIES OF OS CLIENTES CASA ENCONTRAMSE PARTES 'O MUNPO, MAS ESPECIALMFNTE NO BRAZIL,. EUROPE, FGYPT, PÉRSIA, CHINA, AUSTRALASiA, &o. R. ARGENTINA, MÉXICO E DEMAIS REPUBLICAS LATINO- ' AMERICANAS, COMO TAMBFM NO EGYPTO, CHINA, E AUSTRÁLIA. ] DISIGNS AND PRIGES SUBMITTED ON REOEIPT OF PARTICJLARS > } OF REQUÍREMENTS. DESENHOS E ORÇAMENTOS SERA1 FORNECIDOS AOS INTERESSADOS. whb worth 15S934 «g^itist 15*967 IhbI weel sliilling k ! $797 ! $798 ª »; penny » ! $066 ! $066 ª »j jfUttetj Jbrktt Fruiic ª $633 ! $635 ª » Mark »• ª $782 ! $783 ª » U. 8. Dolhu- » ª 3$282 ª 3$289 ª » iWOlAllONS DURING WEEK CLOSING APRIL içlh, 1907, 20» IT" -H OJ C> PO «3 EXCHANGE On tho Rio Stock Exchange Apólices recoverecl from their BDSINESS DONE ON THE RIO STOCK fali from 1:1)37$ to 1:015$ aiid closed today at 1:031$. The During the week ended April 19th, 1907 oiily ótüèr íilterátion of iniportance is a sluinp iu Jornal do C&nimercio debentures from 196$ to 183$ on the 17th. Banco OLOS1N6 i>*te Iniciador rose from 1$750 to 8$000. t-KSCKiPTioN Sales Hi«lie»i íioweat This LaBt | week of laat Coffee shipments (embargues) here and at Santos yielded HOVKKNMKNT Mil- £520,000 for the week against £475,000 for lhe previous week (MIRITIKS and £320,100 last year. Apólices (léraes 5 °/0.. 3001:032$ 1:015$ 1*032* 1:015$ Apr. 12 For the crop, clearances up to April 19th show 4,717,900 do (alvará-) M9 1:032$ 4:0203 1:032$ ² — bags more than last and sterling value £9,(123,795 more. dJiScSv.:::::: mm*&* l:ffi ^m- l:ffi S year, State of Minas bearer... 820$ 845$ 820$ 81u$ ª 12 do (alvará) 10 SUS 814$ 814$ - do order... 105 835$ 830$ 834$ S3o$ >. 12 St.iilu ol' Itio de Janeiro ,,_,._ ,,„. coa 1f I>r. Custodio Ooeilio has, on the scoreof ill health, ,1 u-i 814 68$ 6<$o 68$ 68$ ª IL resigned the ol* Diréctor of the exchange department of the dn" r," õ '/*"""""" ° •••••••¦•• 5Õ420$ 420$ 420$ 430$ Mar. 30 post T „.,..,òifí x. 026$ l: 023* 4:026$ 1:024$ Apr. 12 Bank of Brazil. do 1903 30 1:040$ 1:0405 1:040$ 1:040$ ª 12 Whilst regretting the cause, few besides the Jornal do Municipal LÓan"bèàvér: 185$ 185$ 185$ 385$ ª 11 Coinviercio can feel sorry that a conneetion, evidently 30 incom- d0 order 30 191$ 1915 191$ 196$ Mar. ,23 -Sefref L°a" patible with his clearly expressed opinions, has at last been í™ 357 184$ 181$ 181$ 183$ Apr. 10 brought to a close. do õrdVr 50 183S5 J83$5 183S5 190$ Mar. 23 Dr. Custodio Coelho had during his administration of the dSíaOoVáêr '^0 280$ 280$ 280$ 286$ Apr. 2 the line d!!|20 fienreV)..: 146 280$ 280$ 280$ 280$ ,12 Bank revealed so many adinirable qualities as to make S^\Ef::h;ií?..Sa.n!? 112 700$ 700$ :oo$ 700$ it of conduct he ultimately adopted in regard to "Conversion" ab- solutely iiicomprehensible to his warmest admirers. How, after denouncim» the scheme as "criminal and immoral", he could Hanks íeud Lis great authority to putLing it into execution and asso- Iniciador 600 3$ 3$ 3$ j$75 Apr. 6 ciate himself actively with its realisation will require a good Commercial 702 124$ 12$ 123$5 121J ª 11 in the opinion n...l7il © 39 126$ 126$ 126$ 128$ ª 5 deal of cxplanation if lieis to rehabilitate himself Con.meVciô .".'.".'.' 144 185$ 1.84*6 185$ I82$õ ª 11 of the Public. Lavoura e Commercio.. 52 127$ 125$ 127$ 128$ ª 11 Dr. Custodio's conception of the funetion of a State Bank was wrong. Instead of associating himself with and assisting RAII.WAVN A TRAMWAYS tlie market, he treated itas anenemy and bent ali his abilities Minas de S. Jcronyino.. 1.500 13$ 12$ 13$ 12$ Apr. 9 invariably to get the better of it. I....1Í... Botânico.. 20 227$ 227$ 227$ 227!» ª 8 To that rates were up or down without ViaçaodéSapucahy.... 2.518 26$ 23$ 23$ 23* », 12 end juniped profit Victoria A Minas 722 13$ 13$ 13$ lo$ Mar. 14 to fiie Bank or possible advantage to anyone, except perhaps some lucky speculators or the gratification of personal or politi- VÓTTON ti II.I.S resources than any Banker ever dis- cal vauity. Wilh greater Progresso Industrial ... 200 345$ 310$ 340$ 320$ Apr. 12 pbsed of in this country he failed either to make a profit worth Confiança Industrial.... 294 265S 260$ 265S 250$ ª 9 recording for the Bank or to help the market by trying to keep Allianca 25 298$ | 298$ 298$ 295$ ª 3 rates steady. Hewas audaeious and did not hesitate to risk S Felix .... 25 60$ 60$ 60$ ² — Petropolitana 27 2?2$ 272$ 272$ 270$ Mar. 18 the credit ofthe Bank and e\ren ofthe country on a deal. Au- Santo Alelxo 50 170$ 170$ 170$ 470$ ª 22 daces fortuna juvat! He never, he says, sufíered a reverse, but neither did he Inmukancic bring profit or advantage to anyone—to himself, to the market Previdente 32 300$ 300$ 300$ 280$ Mar. 1 or the country. Wilh immense opportunities of doing great Mercúrio 135 35$ 35$ 35$ 35$ Apr. 12 things he frittered them away in futile efforts at domination. Indemnundora 105 40$ 40$ 40$ 39$ ª 8 Confiança alvará 23 49$7. 49$7D 49$75 ² — M I.SCKI.I.ANHOU.S Movemeuts in local stocks this week have not been extens- Docas de Santos 42 818$ 318$ 318$ 320$ Apr. 10 ive. llio Janeiro Tramway has been quite active, and after Intern. de Docas 3,G00 42$5 US7ò 4l$75 12$75 ª 12 an early dip to 42, recovered to 44, a gain ofa point. São Paulo Loterias Nacionaes 350 12*75 12$7õ 12$7õ 13$ ª 9 is 5 1/2 down on a few sales at 125 1/2, and Mexican Power at Melh no Brazil 120$ 120$ 120$ ² — Melh.no Maranhão 172 22$ 22$ 22$ 20$ Mar. 27 50 shows no change. In considering tlie course of these stocks Cant. & ViaçãoFlumin. 770 127$ 127$ 127$ 136$ ª 30 it is worth while noting tbat the report ofthe Royal Insurance Commission says that ali.-stocks, and the securities arising from DitnitNTiiiutM the foreign operations of Canadian companies, such as Sao Jardim Botani :o 280 209$ 209$ 209$ 212$ Apr. 11 Paulo, Rio and Mexican Light, Heat and Power, should be Jardim Botânico 2nd struck ofF the list of investments insurance compa- series 200 209$ 209$ 209$ 209$ ª 11 permitted Mosteiro de S. Bento... 10 215$ 215$ 215$ 2!õ* ª 9 nies. It remains to be seen whether or not Parliament will Carris Urbanos (200$) .. 205$ 205$ 205$ 206$ ¦> 12 carry out such a drastic recommendation. In any event, the Manufact. Fluiu, (mill.) 260 -200$ 198$ 200$ 199$ ª 6 will be left over to another Session of the Brazil Industrial 50 205$ 205$ 205$ 2u2§5 ª 8 question probably Docas de Santos 36 19S$ 198$ 198$ 20o$ ª 10 House. The Financier March 28. Mercado Municipal 200 177$ 176$ 177$ 177$ ! 12 Corcovado 12 197$5 197$5 197$5 ² — Jornal do Commercio... 103 196$ 183$ 183$ 196$ Apr. 9 Oonsols. Owing to the fact that Consols were last Confiança Industrial... 67 207$ 203$ 207$ 206$ ª 9 week at 84 1/2, the lowest ever since interest was reduc- MORTGAGE BONDS quoted "a ed in 1903, good deal of nonsense", says the Economist "has Banco Credito Real de been talked with regard to lhe extent and causes of the Miuas,7<-/o 28 94$ 94$ 94$ ² — decline." As the following table, taken from ourcontemparary shows, on the basis of the returns given, the price of Consols is far Tlie total business done on tbe Rio de Janeiro Stock Ex and away above those of any of the leading European countries change amounted to 1.745:U34$000 distributed as follows: — even at the late the nearest approach being by Goverunient securities 936:110$000 panic prices, °/0 French Rentes, which on a 2 1/2 basis would be quoted at Kimk shares J'24:fi09tf<)00 78 1/2, whilst that of German Consols would be only 68 1/4 and Etailwuy & Tramway sliares 94:367ff0C0 Prussian's 63 1/8. Cotton '. 160:4698000 Insurance 19:669$000 Miscellaneous 163:642*000 © o s » Debentures 243:536*000 to © D C 03 Mortgage Bonds 2:632$000 «—í ** Bate of Intorest 2»/« 31/2 4 5 Mr. Lawson, tbe vivid author of Frenzied finance, The Price 853/16 05 83 >/s 04 94 102 i/a °/o Orhneof' Amalgamated, is again on tbe wavpatb denounciug* Equivalent at 2 ••• 85S/>6% 78i2o/0 68Vi% 63»/8% 58i/8% 63'/8 % Financièrs as tbe real autbors of Yield £2 18 £3 3 £3 13 2 £3 19 3 £4 ij 0 £3 19 3 Frenzied tbe sluinp iu New York, which be maintains was engineered to get possession of End of March /S97 stocks at bottom prices. This, The Financial News tbinks, is not tbat it is much Raio, of Interest 23/t 4 4 5 borne out by facts and more likely tbat tbe''buli" Price 112 102i/2 97 1.03 1021/j 88V8 cliques, which rusbed up l.istyear, failiug to unload,deter- °/0. prices Equivalent at 2*L UOl/2% 851/2% 795/80/0 64 o;0 63'U o"/o 55y 0/0 minedon a boi d coup in order to buy in small men at lower Yield £2 5 £2 18 £3 0 £3 18 3 19 0 £4 10 6 prices. This is held out by the fact that in spite of tbe gigantic End of March. fali of prices there were no failures in Wall Street, an almost ceivable incontingency had liquidations been genuine and not Rato oi' Interest ² 4 5 entries. Appalling as difíerences Price IOI3/4' 8OI/4 ² 1041/a 98V2 mere book were. tbe London °/0 Equivalent at 2|2 ., SI o/0 07 o/0 B G.13/4o;0 46V»o/o 56 0/0 wns not badly bit because English operators are tired of being Yield 19 £3 14 £3 17 "bosses" £2 3 £5 7 9 £4 9 3 swindied by Wall Street and have for the most part left " Americaus" to America. April 23rd, 1907.] THE BRAZILIAN REVIEW 47.5 BUSINESS DONE ON THE S. PAULO STOCK EXCHANGE CLOSING QUOTATIONS OF BRAZILIAN STOCKS AND SHARES 0N THE LONDON STOCK EXCHANGE During the week ended April 18tli 1907 For week ended CLOSING DESCRIPTION Sales Highest Lowest This Last Date week of last DESCRIPTION Mar. 22, 1907 Mar. 27, 1907 Government Se- CUR1TIES Government Securities 91$ Apr. 10 S. Carlos Munic. 10<>/o. 91$ 91$ 91$ °/0 Municipality Gold Loan 1879 4 % 87 89 34 86 São Paulo 1/jW/o 87 84 86 7th loau 267 100$ 99$5 99S5 99$ ª 6 1883 4 85 lst 1(5 98$ 98$ 98$ 97$ Mar. 5 1888 4l/2«/0 87 89 86 88 Santos MuniC. 83 1/2 82 84 do 2nd.... 30 100$ 100$ 100$ 98$ Apr. 3 18894<>/0 83 ª 1895 5 °/0 94 95 93 1/2 941/2 Campinas Municipality °/„ 96 94 1/2 95 1/2 12 92$ 92$ 92$ 92$ Mar. 9 ª 1903 5 95 (lüüSi West of Minas ltailway 5 °/() 93 94 92 94 «'./_ 102 1/2 101 1/2 1021/2 Eailway shares New Funding Bonds L898 5 101 1/2 Hescissioh Bonds 19Ò1-2-5 4 "/.)... 81 82 80 1/2 si í/a °/0 96 95 97 31.9 286$ 282$ 282$ 281$ Apr. IL State oi' S. Paulo 5 1888 94 Mogyana » » °/0 96 94 96 Mogyana 30 d/s 100 285$ 285$ 285$ * » Bonds 5 94 » » » » Bonds 88 90 88 90 Paulista 260 293S5 287$ 292$ 286$ » 10 5o/0 1904. State of Pará 5 «/0 88 90 87 89 91 89 91 Banks Bahia b°/0 Gold Loan, 1904 89 Comp. Lloyd Brás., 5°/0 St. bds. 98 1/2 991/2 «8 1/2 99 1/2 ítalo Braziliano 25 284$ 284$ 284$ 283$ ª o União 4G0.5 5á$5 õl$5 51$5 51$ i 11 Corporation Bonds Commercio e Industria. 75 350$ 348$ 350$ 342$ »¦¦ 11 City of Itio de Janeiro 4 °/0 , 87 88 86 1/2 871/2 ditto õ°/o fçold honds , 8(3 87 MISCELLANEOUS Oity ol':h;i..l(lS <.<>/,, 101 103 101 103 95 97 95 97 Armazéns Geraes 100 18$ 18$ J8S 15$ Mar. 18 Bello Horizonte 6°/0 Bds Guar Manáos °/0 86 88 86 88 Comp. Melhoramentos. 2(50 100$ 95$ 100$ 95$ Apr. 10 (C. of) 5 1/2 Stg Beleiu °/0 80 82 80 82 Comp. FaJt). Cimento... 20 87$ 87$ 87$ City of (Paru) 5 Gd. Bs. of 1905... Mortgage bonds Railways °/0 6 5 6 de 100 67$ 67$ 68$ 6 Brazft Ureal. Soutliern 7 Cum. Pref 5 Banco União S. Paulo 67$ 5 1/4 5 3/4 5 1/4 5 3/4 Banco de Cr. Real 8 16$ 16$ 16$ 16$ 8 Espirito Santo and Caravelías Gt. Western of Brazil, Limited 111/4 113/4 10 1/2 111/2 ª ª » ü°/0 Pref. Shares 12 12 1/2 11 J/2 12 1/2 Leopoldina Limited 75 77 76 76 Porto Alegre si Novo Hamburgo 7 °/o Pref. The business done on the Sao Paulo StoV.k Kxàliãn&e during the Shíires 3 3 '&5 week ended April 18th 1907 aniounted to Rs. 322:358$000, distributed as Bio Claro, S. Paulo, Limited, Sliaros 24 1/2 25 1/2 24 follows : S. Pau.o, Limited 213 216 217 » 5 °/0 Non-Cum. Pref 117 11.9 117 119 Government Securities 34:398$000 Railway Shares 194:5618000 Banks 57:6818000 Railway Obligations Bra/.il Gt. Soutber», 6 °/() Stl. Mt. Delis. 189.$ 96 98 96 98 Miscellaneous 28:8908000 99 97 99 Mortgage Bonds 6:8288000 ! ª O"/,, Stl. Mt. Debs. Red. 97 ! ª 0 <>/,, Perm. Deb. Stock. 95 97 95 97 Gt. Western of Brazil Stock6ü/0 128 130 127 129 Total, week ended Apr. 18th 1907 322:3588000 ditto b*lfl Rd 102 104 102 104 ª » Apr. llth 1907 597:9788000 Leopoldina 4 °/o do Stock, red 89 91 90 92 ª » Apr. 21st 1906 440:8028000 Mogyana, 5 0/o Deb. Bonds 101 103 101 103 Porto Alegre a Novo Hamburgo ti °/0 Mort Deb. Red. 1907 93 95 93 95 S. Paulo, Ltd. 6 >/_ °/„ Debentures Stock.... 128 130 128 130 ª 5 °/0 ª do 121 123 121 123 ª 4«/o ª do 104 106 104 106 Lloyd Brazileiro Rio Claro, S. Paulo 5 »"/„ Deb. stock 120 122 120 122 OtV\KRS m Banks Britisli liank of South America, Limited. 18 19 18 M BUARQUE & Co. London & Brazilian Bank, Limited 24 24 1/2 23 3/4 24 1/4 London & River Plate Bank, Limited 50 52 60 62 28, 4, 6, XVJDJVIDA. CENTRAL, 3, 4, 6 Shipping i Rio de Janeiro Amazon Steam Navigation Co, J.imited io>^ 10 1/2 9 1/2 10 1/2 50 Royal Mail Steam Packet Co. ord 48 61 47 ditto Pref 88 91 87 90 25 NAVIGATION SERVICE OVER ALL THE BRAZILIAN COAST Pacilio Steam Navigation Co 241/2 25 1/2 24 1/2 i/a services Uruguay, Paraguay', Passengers and cargo for Mining Argentina and Matto Grosso 5/8 Ouro Preto, ord . 1/2 5/8 1/2 St John dei Rey, 3/8 7/16 3/8 7/16 1 do Prefe. lOo/o- 7/8 1 7/8 MONTHLY TK1PS BETWEEN RIO DE JANEIRO & NEW YORK Telegraplis 31/2 Amazon Tel: Shares 3 1/2 3 91 Sailings From Rio: ditto 5°/0 Debs. Red 91 88 Western Tele. 131/2 14 13 3/8 .13 7/8 Sunday at 10 o'clock a. ra. Co. shares. 101 104 NORTH LINE Every do do 4 »/0 deb. 101 104 RIO GRANDE LINE... Tbe lst., 7th., 14tb., and 23rd., red. every month, at 12 noon. Miscellaneous Once a month. 100 102 NEW YORK LINE Cantareira Waterworks 5 °/„ deb. 2nd issue.. 100 102 20th. every month, 10 1/4 10 3/4 101/4 10 3/4 RIVER PLATE LINE... The 4th. aud City of Santos Imp. Ld.7 °/0 uon-cuni pref.. °/0 111/2 12 11 1/2 12 at12 noon. City ot*Santos Imp; Ld. 6 cum pref 102 do °/0 100 102 100 and 28th. every month do 5 Ist charge debs 4 4 i/2 Sta. CATHARINA LINE The llth. Rio de Janeiro 4 4 1/2 City Imp. Limited 101 103 at12 noon. do 5 °/„ Deb. Int. Apr.-Oct 101 103 100 102 100 102 SUL DA BAHIA LINES Once a month (Departures not do do do Int. Jnne-Dec..... 15/8 17/8 Rio de Janeiro Flour Mills Limited 16/8 7/8 fixed.) » » ª do Mort. 101 103 101 103 deb 7. 13 LINE Twice a month not 8. 13 13 1/2 fc 12-1/2 SERGIPE (Departures Paulo Gas Co. Limited 60 do 5<>/o 48 50 48 fixed.) Debs. (Regd.) 18/4 2 1/4 Dumont Coffee, ord 13/4 1/4 MATTO GROSSO LINES. Are in connection with the River °/o 7 3/4 8 1/4 7 1/4 7 3/4 do 7 Va Cum pref 99 Plate Line, departures from do 5 1/2 °/o 97 99 97 Ist. Mor. deb.... 10 L 103 or Buenos Aires. S. Paulo Coffee list.5 i/2 Ist. Mort. deb... 101 103 Montevideo % 4 3/4 5 1/4 4 3/4 51/4 ditto 7'Vo Cum. Pref.' 92' 97 FLEET Pernambuco °/0' 92 97 Water Works 6 lst Deb 97 92 97 ditto 6~/o 2nd Deb. St. Bds 92 Alagoas Goyaz. JBLorianopolis. 128 133 128 128 Sao Paulo Tram. Lgt á Pwr. ($100) 97 95<>/o 97 •/„. Brazil. Sergipe. Santos. do 3<7„ Mt. Debt Red. 95 (§500) 88 93 88 93 Manáos. Mayrink. Planeta. San Paulo Match 6 0/° lst. Mt. Db Maranhão. Victoria. Satellite. Central Bahia Railway Trust : — Olinda. A more. Prudente de Moraes. y Reg. "A" Certs. Rd 77 79 77 79 Trust 26 São Salvador. Estrella. Íris. ditto "B' Certs 24 26 24 Pernambuco. Fagundes Var ella. Amazonas. Espirito Santo Grão Pará. Guarájã. STOCK EXCHANGE Bragança. Diamantino Ladario. CLOSING QUOTATIONS 0N THE MONTREAL Matto Grosso. Mercedes. Nioac. Montreal Priees Marajó. Rápido. Itapemirim. Mar. 27 Mar. 26 1/2 45 Coxipô. Bio Verde. Cahy. Light and Power Co 46 Mexican 79 80 Do 5°/0 :••;•• 123 20 BUILDING Light and Power Co. Limited.. 126 São Paulo Tramway 94 1/2 Do °/0.. •;• 94 i/2 For Cargo, Passages and General Data Apply to the 5 39 Rio de Janeiro Tramway Light and Power Lo Ltd. 42 3/4 74 Head Office «& Agrencies Do 5 0/0 73 1/4 stojc&aja»« 476 THE BRAZILIAN REVIEW [April 23rd, 1907. Balance of the Caixa de Conversão Sat. April 20tb cate and 3$799 for tlu Market against 4$667 and 8J5926 in the week and Debit Balances previous 5$050 last.year; and at New York it was 6.83 cents against 7.00 cents for the previous week and 8.11 cents Note Account (Total ready for emission) 45.005:940$000 last year. Subsidiary Coins and Balance in Hand 15:68l$369 Stocks increased by 72,732 bags and are 2,937,194 bags more tha.ii Inst 2,399,089 45.021:620$369 year and bags more than in 1905. £ s. d. Santos entries are 11,280 bags less than in the previous week, and larger than Cash. Gold in Deposit... 5,113,304-10-0= 81.813:832$0(0 shipments by 8,100 bags. The daily ave- Fcs. 10,526,890 418,406-4-4=: 6.694:499$439 rage foi* tbe week (6 days) was 37,986 bags. Dollars 135. 27-16-2= 444$930 On the basis of comparativo entries to April 19th this year Marks 80 3-18-6= (5^8805 and last, tbe crop should be as follows :— Rs. 30:180S Brazil Gold. 3,395-5-0= 54:3248000 Pesos 105 20-17-4= 333S869 Rio 136.8°/0 of 3,406,035 = 4,659,455 Liras 2,680 106-10-8= 1:704«3,.)3 Santos 206.5% of 6,982,885 =14,419,657 Crowns 710 Austrian... 29-11-8= 473S330 Pesetas 165 6-11-2= 104S929 10,388,920 19,079,112 Other ports fsay). 700,000 5,535,361-4-10= 88.565:779$631 Total probahle entries. 19,779,112 133.587:400$000 Crédit Balances In our article on Valorisation last week, it has been pointed Emission. Notes issued 93.876:930$ out that Brazilian entries since July lst have been allowed for Less retired paid 5.313:470S 88.563:460$000 twice over, but tbat no allowance has been made for probable arrivals of mild coffees. Notes emittable (recd) 45.005:940$ With this correction the calculation should have been as Federal Trea.sury(recd in subsidiary coin) 18:000$ 45.023:940$000 follows: — Visible Supply April 133.587:400$000 on lst 1907 15,398,000 Prohable Brazil entries April, May and June. 2,833,000 Probable entries mild cotlees 1.000,000 19,231,000 4»ff«« Sítátí Government purchases effected to end March. 5,000,000 Possible purcases April-June 4,000,000 Consumptb.n three mos April, May and June. 4,260,OCO 13,260,000 COFFEE ENTRIES Disposable at end of June 5 971 (JOO KOK TII1C WKKK KNIJICI, KOK THIC OKOP TO Instead of 8,785,000 bags, as we stated last week, only 5,971,000 bags would be disposable. This, however, would not Kio April 19 April 12 April 20 April t9 April 20 affect the conclusions drawn in the article, as with a new crop 1907 I 1907 iiioG l!)ü7 1906 of unknown volume imminent it is clear that even 6,000,000 bags would be ample to go on with and Speculation would not interest itself without some guarantee that the 9,000,000 bags By Central K'y 35,550 30,0-43 15,421 2,010,924 1,418.432 held by Government would not be let go. > Leopoldina K'y : Another correspondeut writes to deprecate Inland 43.35S 3G.059 8,324 1.437.483 1,004.939 our advice to CoHHfwise, diachfirged.. stop buying on the ground that entries are still 6,438 5.187 294 178,807 143,983 too heavy. Government, says our correspondent, will have to buy up to Total 85,346 71,289 24.039 3,627,214 2,567.354 8,000,000 bags and regulate Trantiferrecl from receipts during the coming crop so Kio to that no more than 1,000,000 Nictheroy 1.G23 1,193 4,225 89,726 77,084 bags come down, and buy besides 150,000 to 200,000 bags per month from July to October Net Entries at lt io " to get 83,723 70.09G 19.814 3,537,488 2.490 270 full contr 1 of the market. If they do not", he says "people CoHatwine, in traimit... 2,000 50,609 114,060 Nictheroy from Kio A who are already in a very aggressive frame of mind, will sell or Leopoldina K'y 3.557 2,347 7.236 271,390 216,005 speculate on Government stocks and break the market entirely Total Kio including Nic- A foretaste of what may be expected if buying is stopped was t.heroy A transit 37.280, 72,443 29.050 3,859,387 2,820,395 seen at Santos last week. What has to be done is to re-establish Santos: 227,919 236,199 58,728 13,318,525 6 449,254 the report than the position would become healthy of itself " That may Total Uio be so,but we think that 5,000,000 bagsis as much A Hantoa.... 315.199 308,642 87,778 17,177,912 9,209.649 as the Syndicate can snfely undertake to carry. lt thèy go on buying they will put themselves more and more in the The coast arrivals for the of their creditors and power week ended April lOth were from :— sooner or later the screw will be put on S. João da Barra 2 257 and there will be a collapse. The state of tbe money markets Maeahé .• i'si9 abroad, it must be borne in mind, is most delicate and may at Santos 1^07 any moment precipitate a crisis. It is Piuuia 577 extremely unlikelv that money can be found under such circumstances to finance Cnravebas 203 in a Iguape '.'.'. 75 comer coffee, certainly notin the States.Germany or England and as the rise in rate the of the Bank of France to 3 1/2°/ the first time for shows T()tl'1 6,438 I.HgN. years, plainly nothing at present can bè ex- pected from tbat quarter either. The opportunity for Tlie raising t.»tal entries by the diíferent S. Paulo Itailwavs for the Cron •., money easily bas, we believe, passed, and attention should April 19th 1907 were as follows:- ! now to be given consolidating the position and enabling the Svn- dicate toholdon indefinitely if necessary. . R Kemaining As for buying fast Sorocabana Total at Total nt at and storing here that would be fatal to ex- Jiimlialiy and others S. Paulo change and sure to smash Santos S.Paulo the Caixa de Conversão and is not to 101)0/1007: 11.457,804 1,878,731 13,336,535 13,318,525 18 010 be thought of. J905/1006: 5,501,673 944,166 6,445,839 The weather during 6%9% nil the past week has been generally fine along the Leopoldina and wet in São Paulo. The wildest rumours COFFEE LOADED are current as to the comintr cron for (EMBARQUES) which estimates of over 5,000,000 for Rio and Minas are based on thisyear'sentries a.t Rio. As we out IUJKING pointed before, although WKKK KNDKO KOK THK CKOP TO the next Rio and Minas crop is like to be better than his it does not follow that entries will be any 1907 191)7 1906 1907 1906 greater. From São Paulo U April 19 Apr. is impossible to reliable 12 April 20 April 19 April 20 get information, estimates ranging from anything between 5,000,000 and 10,000,000 bags Rio 58,586 39,í520 60.204 2,913,832 Nictheroy 2,563,157 4,358 73 S,550 259.455 Syndicate Prices Market Prices In transit ,, 208.798 2,000 50,509 114,060 April 15. 6.$700 to 7S000 Totnl Kio including Nictheroy Nominal » 16. 6S700 to A transit 62,944 39,593 79,754 3,223,796 7S000 5.Í500 Santos 2,886,015 » 17. 219,819 217,366 99,983 11,148,738 6,690,359 6S700 to 7.M00 5S400 to 5$500 18.. Tolal Kio A Santos . 6S700 to 7$000 282,763 256,959 170,737 14,372,034 9,576,374 5S300 10. 6S700 to 7.$000 5$300 20. 6$700 to 7S0OO 5S300 Pio de Janeiro, April goth, 1907. Entries nt Kio and Santos for the week ending April Weelcly Keport ol tlie Companhia Registradora 6'557 bagS more tllím f()1" fcbe Santos. Sales registered «le ooí ,„V'ere Previous week and on the basis of New York Exchange Standard l ^.^.aagf'¦>..-¦.'." C April 23rd, 1907.] THE BRAZILIAN REVIEW 477 li S. Paulo, April SOth, 1907. andalively fight between the two factions is in immediate At tlie beginning of the week it looked as if tlie diííerent prospect. The Brazilian scheme is a bigger factor than ever, coffee markets had settled down and the exchange membership is now ranged up on one again, when on Wednesday "buli side or quite unexpectedly and without any .apparent reason, a kind the other. Sympathizers ofthe crowd" have caused the of panic broke out in Havre and Hamburg. The latter market following piece of «news» to be given out. " especially was most severely shaken, so much so tbat prices for As matters stand-up to date, the issue is one between the near months ran two francs below Havre paiity. the ins and the outs. Tbe ins have before them a defini te a Some holdings in very weak hands must bave been liqui- programme to which they are committed and in pursuit of dated in tbe most reckless manner, as Hamburg is tbe market whioh ali the parties thereto are co-operating quietly but to ali which is most badly in want of coffee and can really not afford appearances eífectively. to lose more "are through arbifrage transactions to tlie benefit of « They taking the coífee out of the in their m >re market the United cool blocded competitors iu Havre. States, in Europe and in Brazil, at tbe rate New York bas which they dêem shown ofT best in tbe fray and lost only four and safe. Instead of being at tbe from highest prudent end of their resources, percent tbe during tbe week, whilst Hamburg assome ofthe outs would have it appear, are and Havre lost °/0. they not much 6 Yesteiday, lhe tide turned and Hamburg more than half way through with their of regained one and powêrs carrying pfennig Havre 25 cts, tbereby diminishing coffee stocks. Instead of 4,01)0,000 or 5,000,000 bags,which iscon- the disparity. Tbe most remarkable thing in this scramble is sidered as having already heen withdrawn from the available that ali (lie transactions together in the tbree markets from 17 supply by tbe offieials in charge in Brazil, they and those who to 19 inslant do not reacb a. very high figure, about 500,000 bags. are working with them considér themselves to take as As to tbe actual causes of tbe prèpared decline nothing de,íimte is as much as 9,000,000 or 10,000,000 bags if it be deemed ne- known here. It is rumoured. that very high estimates of tlie cessary. stock of coífee still in lhe interior o f São'Pau Io and simultaneous « The outs, on tbe selling orders are the cause, whieli news, other hand, who fire casting doubt on primary"bulls" when made the of the Brazilian known in Havre, induced of long standing to liquidafe programme States and their supporters, are orreduce their seeking justification for their market attitude. One week it is position. said that the Rothschilds Santos was, of course, taken abaek by such a sudden would have nothing to d»o with the and valorization and the next violent fali, and the already wavering attitude of the dealers project, week Havre is heard to speak out in warning terms». New York Commercial, there would probably have ended in a real panic had not the March 20th. firm of Prado Chaves & Co stepped in at this criticai moment, buying whatever was offered by those who earnestly wished to sell. This timely interference saved the situation and confi- TVyrOjHTJP «& CHANDON 1900 Vinta^e. Tlie dence was soon re-estahlished. •i-YX best Oliampag-ne iix tl»e JVfarltet. Can toe Considering that the Government has bought during this liad at Crashleys. month 437,000 bags of coffee in Santos and about 150,000 bags in Rio, in ali about two-thirds of the total receipts, the appre- hensions so frequently expressed are somewhat ineomprehen- sible. Of course, if dealers and commissarios in Rio and Santos MANIFESTS OF COFFEE thought that they would be able to unload ali their commer- During the Week ended April 19th, 1907 ciai obligations on tbe São Paulo Government and need only poeket commissions, without having to bear a certain burdeii RIO DIC .JANISIltO out arising of the phenomenal overproduetion of this year, they must feel disappointed, but common sense ought to tell them that much more has been DICSTINATION accomplished through the pertina- OATIC NAMK OF VKSSHX SHIPPKRS BAtíS TOTAL ci.ous efforts ofthe São Paulo Government than could reasonably be expected. 5.980,000 ba^s have been bought up till now and there are no signs of any slackening, so tbat one can salely April 13 Itapacy Porto Alegre. Castro Silva & Co... 108 that this > do do Siqueira & Co 498 presume crop will be helped through and Government » do Pelotas Castro Silva & Co... 80 holdings will be about 8,000,000 at end of June. It would be > do -Io Siqueira & Co 478 suirprising if such a quantity withdrawn from the market would > do Rio Grande.. Castro Silva & Co... 50 not in the endinfiuence » do do Zenha, liamos & Co 80 the price of the article, the moreso as » do do Siqueira Sc Co 460 1.754 it is already certain that receipts will not exceed 1,000,000 bags during any month of the new crop » 14 Planeta. Cabedello Zenha, Ramos & Co 50 year. > do Tutoya. ., do 70 Keceipts show a slight falling off'compared with the week > do Manáos .. do 140 before, though the more marked decrease is in "passagens". * do do J. Dias & Irmão ... 220 Shipments have been áiightly inferior to receipts for want > do do Eugen Urhan 100 of steamer room for Antwerp. » do do Pinto & Co 2õ0 » do do Nunes de Sà & Co-.. 140 Prices have varied between 3$925 and 4$000 for type 4 May » do do Siqueira & Co.: ... 255 delivery. Spot coffee was much neglected and with cause. * do Natal ...... Zenha, Ramos & Co. 100 Prado Chaves & Co. about » ; do Ceará Sundry 30 paid 4$000 for type 4 desirable qua- > do Pará J. Dias & Irmão 50 lity. Lower and lowest grades were rejected and are difficult. » do Itacoatiara... do 60 > do Maranhão.... Pinto & Co 1,145 S do do Nunes de Sâ & Co.. 30 » do do Siqueira -¦¦:'.7;..v7A-7 .7 .:;7 478 THE BRAZILIAN REVIEW [April 23rd, 1907. SANTO» ODR OWN STOCK 7q2'-oo RIO : Stock on April 12 DATK I N AMK OK VKSSKI.i DESTINATION SHlPPtCKS IIAHS TOTAL Entries during week ended April 19 qo,izõ 873.960 1 Antwerp Theodor Wille A Co. 38.397 Ap 13 Rolaud.... Loaded (Embarques) for the week 58,586 do do N. Gepp A Co..ljld. 1 ,000 do do Zerrenner Bulow&C 298 815,374 do Piado, Lima A 250 _._<>« k ia ltio on April 10 •'•••;¦¦; do C.... 123,043 do do Hard, Hand A Co.. . 250 Stoek at Nictheroy and Alloat on April 12... do do Nossack A Co 250 40,445 Entries at Nictheroy plus total embarques including transit 66,501 Loi ri ent es Hamburg ..., Holworthy Ellis&Co 2.000 do do G. da Fonseca A Co 2,000 189,544 do 15. JohustonáCoLtd 1,000 do and sailings do do Krische A Co 1,000 Dttduul: embarques at Nictheroy do do Baldwin A Co 654 during tlie week 27,006 do do Zerrenner Bulow&C 437 do do Schmidt A Trost... 280 Nío<_l< aí Nietl.eroj aa«l alloat on April 19... 162,538 do do Hard, Kitiul A Co.. 100 do do S. F. et C. Franco tliose ai Brésilienne...... 20 Nlo<_li ia lx.1 and »ii«l liaiiilM aad 977,912 do do Sundry 271 7,762 Niv.llieroy and alloaí oa April 19 HANTOS: Stock on April 12 2,670,897 13 Savoia..., Genoa opt..., N. Gepp A Co. LI d 750 líntries for week ended April 19 227,919 do do do Holworthy. Ellis&Co 500 do Genoa Sundry 18 2,898,816 do Naples , do 1 1,269 l.oadeil during same week 219,819 15 Chili Bueuos Aires Malta.CcrquinhoAC 367 SiotUs ia ttaiiio* on April 19 2,678,997 15 Camoens.. New York E.JohnstonACoLtd 11,500 do Holworthy do Ellis&Co 9.125 RtnnkHin m<> and Santos on April 19th. 1907 3,656.909 da do Theodor Wille A Co. 7.50o I2th, 1907 3,584,177 do . do G. du Fonseca A Co 7.000 ,lo do on April do do Hard, Band A Co... (5,6.0 ICUKOPK i- TOTAI "™" OTIIRK °lAl' MKOITER- COAST ..^ N. B. There is .some mistake eitiier iu the figures by the New STA,ES™™ P0RTS w«kk given RANKAN P,'A1K T0 DATK York Journal of Commerce for sales in 1887 which are stated to be * 26,871,250 bags or crediting 1906 with the record with 1,383,750 bags less. Rio 13,426 1,313 5,265 2,493 — B 22,497 3 159 205 Santos... 59.896 .159.634 - 2,123 - B 221,653 11,078.358 ummmmmmmmwimmmmmmÊÊmmmmmmmmmmmm -wnmwwu Total í 1906/19.7 73,322 100,947 5,265 4,616 — 244,150 14,232,563 BRAZILIAN EXCHANGE 1905/1906 42,983 7S.8S8 2,395 5,SS8 — ² 130,154 9,487,594 VALÜE OF COFFEE CLEARED FOR FOREIGN PORTS THE 8TUDY OF AN INCONVERTIBLE CURRENOY Week ended By J. P. WILEMAN C. E. April 19 Apr. 12 Apr. 19 Apr. 12 Crop to April 19 (Editor of the "BHAZIí.lAN 1U_V1___W") Bags Bags £ Bags PRICE 10$üu0 Rio 17,232 22,857 29,457 45.033 2.911,3101 5,684,823 Hold at Laemmert, & Co. RIO DE JANEIRO. Santos 221,053 330,947 409.G90 608,697 ll.061.81Gi 21,802,478 Effingham Wilson, Royal Exchange, To 1906/1907 238,885 353.604 439,147 ~653?73Õ 13,973.126 27,437,301 LONDON. Oíílces of the «Brazilian Review.» ii do 1905/1906 127.651 68.901 243,554 130,619 9,255.166 18,413,506 Rua Visconde de ii Inhaúma No. 42 h im w.» April 23rd, 1907] THE BRAZILIAN REVIEW 479 COFFEE PRICE CURRENT For the week ended April 19th, 1907 ppij OKSCKIPTION Apr. Apr. Apr. Apr. Apr. Apr. Aver ARRIVALS AT THE PORT OF RIO DE JANEIRO 13 15 16 17 13 19 ages During the week ended April 19th, 1907 RIO — •Jarket N.6. J0 kilos NAMK DATK OK VKSNKI. KI.AG Kit) TON- FROM Syndic. N.7. » » 4.667 4.667 4.667 á.667 4.667 4.667 4.667 NAGK 3.813 3.676 3.676 3.676 Market N.7. 3.813 "3.799 3.949 3.949 3.813 3.813 3.813 April 13 Rhaetia. Gerinan S. S. 4,141 Hamburg ! N.8. 3.698 3.698 3.472 3.472 3.472 a Sirio 3.744 3.744 3.698 3.698 3.698 3.639 13 Brazilian... do 930 But-nos Aires 3.4Í2 o 13 Cunaxa British do 2,048 New York . N.9. 3.472 3.268 3.268 3.268 Induna 3.540 3.510 3.404 3.404 3.404 3.404 13 do do 2,874 Cardiff 13 Mttiupy Brazilian... do 304 Victoiia SANTOS— 13 S. João da Barra do do 230 Porto Alegre Syndicate 10 kilos 14 mm French do 2Í771 Bordeaux 14 Nivernais do do 1.8S0 » N.4. » » 4.450 4.450 4.450 4.450 4.450 4.450 4.450 Marseilles » N.5. » > 14 Guni her ...... German do 1,913 New York 4.J50 4.2o0 4.250 4.250 4.250 4.250 4.250 Mendoza ! N.6. » » 4.05U 4.030 4.050 4.050 4.050 14 Italian do 4,376 Buenos Aires 4.050 4.050 14 Guanabara Brazilian ! N.7. a » 3.900 3.900 3.900 3.900- 3.900 3.900 3 900 do Itajahy » N.8. » » 14 Itaquy do do 512 Porto Alegre 14 Attivitá Italian do 1,615 Genoa Market J0 kilos 14 Cambodge French do \\ 503 Cardiff Kio Iguazú » N.7. » i 2.950 2.950 2.950 .2.950 2.950 15 .... Argentine.. do 222 Hull 2.950 2.950 h uffon i » N.S. ! » 2.500 2.500 2.500 2.500 2.500 15 British do !,459 London 2.500 2.500 15 Hydra do do -• » N.9. ! » 2.250 2.250 2.250 2.250 2.250 2.250 2.250 2,626 Cardiff . 15 Bt asileno Uruguayan. do 2,431 Barcelona ÍS. YOKK f>fi lb. 15 Savoia Italian do 3',3ül Buenos Aires Qorrieuies 6l|«)t N. c«» t. 6 »'8 6 7/8 6 7/s 6 8/4 8/4 Í5 German do 2,408 Santos Vb 0 6 6.83 16 Parahiba Brazilian... do 730 » » » 06/8k 6 6;8 G 6/j 6 5/g tí 6 l/a 6 58 do OpI.ioiiH— Va 16 Nile British do 3,299 Southampton » May,... » 6.65 16 Heidelberg German do 2,145 Hamburg 5.70 5.70 5.55 5.55 5.65 5 63 C; aigandoran... » Sept... » 5.45 5.50 5.45 5.35 5.30 J6 British do l,77y Cardiff 5.35 5 40 16 Campinas French .... do 1,972 ¦ » Dec ... » 5.50 5.50 5.50 j.35 5.30 5.40 5 42 Havre . ,> 16 Fallodon Hall... British do 2,206 Middlesbro' HA Vltlfl, Pet 50 kiloi 16 Fidelense Brazilian... do 256 8. João da Barra 0|>li()IIH flllIll'H 17 Ot onsa British do 4.523 Liverpool » May.. » 36.75 17 Canning do do 3,459 do 37.25 37.00 35.75 35.25 35.50 36.25 Thames » Sept... » 36.50 36.75 3'5.75 35.50 35.25 17 do de 3,083 Buenos Aires 35.50 36 04 17 Atlantique French » Dec... » 36.75 37.00 37.00 35.75 35.50 35.75 36.29 .... do 2,890 do 17 Eastet n Prince.. British do 3,378 New York H AMHIIIUt f>ei l/j, k. 17 Alagoas Brazilian... do 1,999 Pará At aguary OpIioilM. . . . . IiIhiiiií^í' 17 do do 1,466 do 17 Santos do do 966 » May .. * 28.50 28.75 28.75 27.75 26.75 27.75 28.04 Porto Alegre » Sept .. » 29.50 29.75 29.50 28.50 27.75 17 Camoeits Belgian..... do 2,626 .Santos 28.75 28.96 17 Itacolomy Brazilian... do 569 » Dec... » 30.00 30.25 30.00 29.25 28.50 29.00 29.50 Paranaguá 17 Car angola do do 258 Prado I.ONDON pei ctut. 17 Gama do Schooner 50 Cabo Frio OpIioilH Hllillingh 17 Providencia do do 66 S.João da Barra 17 Aurora do do 33 » May.. > 28/- 28/- 28/- 27 26/6 27/- 27 5 Cabo Frio » Sept.. » 28/9 29/- 28/9 28/- 27/3 17 Guajarâ do do 927 íi acau 28/- 28 3 17 Amazonas do S. S. 927 » Dec... » 29/3 29/6 29/3 28/6 27/9 28,6 28,9 R. G. do Sul 17 Jorge do Schooner 32 Cabo Frio 38 Gloria do S. S. 253 Iguape 18 Çoblenz: German do 2.001 Santos SALES 0F COFFEE for the week ending 18 Vencedor Brazilian... Schooner 27 JMacahé Apr. 19,1907 Apr. 12/1907 Apr, 20/liH,6 19 Pernambuco..,.. German.... S. S. 3,105 Hamburg 19 Oropesa British..... do 3,346 Valparaiso lt>o 58,000 62,000 35,000 ' Rh»«™ 281,499 244,518 19 Nadia \ do do 1.552 Rosário 62,930 19 S. Luiz ; .. Brazilian... do 2,319 Macao r«>'«1 -.-. 339,499 306,518 . S7.93Õ SAILINGS FROM THE PORT 0F RIO DE JANEIRO RAINFALL During the week ended April 19th, 1907 The weather on the Leopoldina system has been fine with the excep- TON- tion of a few showers and has been wet over nearly the whole ofthe I>ATI£ NAMlfi OK VIÍSSEí- FLAG KI« RO* State ofS Paulo. NAGE April 13 Itapacy Brazilian';. • S. S. 717 Porto Alegre 13 King /Awall British,... do 2.321 Santos 14 Planeta Brazilian.. do 878 Manáos %tm j|UrW 14 Júpiter d,, do 1,800 Montevidéo 14 Chili French ... do 2,771 Buenos Aires 14 Estt ella. Brazilian.. do 225 Aracaju ,t. Tbe following are the closing quotations at Rio on April 14 Mendoza Itãliali,.... do 4.376 Genoa 19th for Campos, Sergipe, Peru am buco and Bahia. 14 Industrial Brazilian.. do 300 Laguna . 14 Milton British do 1,676 New Orleaug Campos Sergipe Pernambuco Bahia 15 Savoia Italian.. .. do 3,361 Geno«i Cot rtentes German... White Crystal 370-380 300—370 370—380 400 lõ do 2,408 Hamburg Yellow 15 Parahyba Brazilian... do 730 Macao crystal — iõ Nivernais French ... do 1,860 River Plate «Masca vinhos — '^80 320 "; 15 Cavour British.... do 3,151 j Santos Mascavo good ² _40 240 16 Nile do do 3,299 Buenos Aires * regular ² 220—230 220—230 — 16 Attivitá Italian do 1,615 do » médium ² — 16 Hrazileno Uruguayan do 2,431 River Plate Itaipava Brazilian.. do Pernambuco Segundo jacto . . — _ 16 707 White 16 Cantpeiro do do 495 do ., uzina — 16 Esperança do do 469 Aracaju White 3a surte _____ 16 Guti une Gorman... do 1.915 Rio G. do Suí Somenos — 16 Spat tan Pt iuce.. British.... do 2,05H Santos 16 S. Sebastião Brazilian.. do 20 Cabo Frio Entries at Rio from lst inst to date 50,322 bags 17 Conway British do 2,591 Pensacola Clearances ditto f>8 03 L » 17 S. Francisco.... Brazilian.. Schooner 34 Cabo Frio Stock ...... '. 17 Cavioens Belgian.... S. S. 2,626 New York -> 317,'õtiO » 17 Rhaetia German.... do 4,141 Santos — Market Steady. 17 Thames British...., do 3.033 Southampton \ 17 Oronsa do do 4,523 Valparaiso 17 Atlantique French do 2,S90 Boideaux 38 Sirio Brazilian... S. S. 930 Buenos Aires The Syndicated Factories at Pernambuco have determined 18 Dous Amigos... do bchooner 34 Cabo Frio to make Demeraras again for export in the proportion of 26°/0 of 18 Rio Iguassú Argentine.. do 222 Buenos Aires the 18 Industty Briüsh do ¦ 2,616 Bahia Btanca pròbable output, i.e. should the crop be 1,500,000 bags, 18 tírookwood do do .1,987 Barbados 400,000 ofDemerara will be made. An arrangement has also 18 Aracaty Brazilian... do 531 Pará been come to with dealers only to buy new season sugar after 38 Teixeirinha...,., do do 257 Florianópolis November, with 19 Oropesa, British do 3,3J»í Liverpool exception of Demeraras, Brutos Melados ou 39 Coblenz German.... do 2.001 Bremen Bangüês at prices that allow of export. The dealers, moreover, 19 Rosebank British do 2,470 Philadelphia - under take to sell for export only ali the sugais they now hold. 19 Cymbeline do do 2,il'50 San ta" Lúcia 19 Quinto Italian do 1.116 La Plata 19 Itabira Brazilian... do 462 Porto Alegre The 1905/6 Pernambuco crop gave.2,047,000bags of 60 kilos. The actual 1906/7 is expected to give 1,500,000, entries to end of The first two months ofthe year were marked by unusually March having been 1,355,771 against 1,735,464 last year, deli- large orders for new steamers by the German ocean companies. veries to Home markets being 721,000 bags and exports 390,000. Thus the Hamburg-American Line, in addition to the steamers; The stock on 31 March was calculated at 245,000, which with already reported in these colümhs as ordered, hsis just placed an 140,000, the estimate of what has yet to come in. makes up the order with Schichau of Dantzig for a freight and passíenger total of 385,000 to att BRAZIL AND RTVER ORDDEUTSCHER LI.OYE LIVERPOOL RREMEN. PLATlfl SrEAMEPS Hamburg-SüdamerikanischeDampfschififahrts-Gesellschaft N The Geiman Steamer Capital.. i25,ooo,oooMarkg LAMPORT & HOLT LINE PETROPOLIS NEXT DEPARTURES Feldmann 1'nNMeiiger «en i — Lisbon A Leixões 19/- Wm. R. I>lc. £ Us. 160| and for Niveu For lurthei information apply i.o 18, RUA DE S. PEDRO, 18 K VRI, A DOS llttltltl, STOI/1'X A «?.* Agents Kor passages aud further information apply Avenida « to tlie agents Central, Gti-7d Rio de Janeira •'TBiiiiyH»!," "Hyron" lu-bb-ea x & hiive hIho superior Ist Theodor Wille Sc Co. x cIhss accoimnndation AVENIDA CENTRAL, 79 Ho-lil-ea X X 7 (Hambnrg- HA• A. JL/. American Line) Kor fr«djji't apply to the Hroker (ISonth American Service) Hiii. lt. HloNiveoi, 3RAZIl-ADRIATIC LINE The new line imperial Mail Steamer 18, RUA DE 8. PEDRO of REAETIA For j.aaaHges and fui t her In formal ion apply to lhe The Austrian Lloyd's Steam Navigation Conipany expected from .Santos on the 2nd May 1907, snila Agents: on the NORTON, MEGAW & Co., Ltd. and 3rd at 12 noon. Kaihia, Madeira, 53, IUTA PltLMl.llCO »|_ ÍTIA ..<,<> The I.isUou, Leixões, Royal Hungárian Sea Navigation l.onlogue and Hainbi.rg He-l>l-ea x x Company "Adria" Limited These inagnificent and fast steamers, built espe- Tri-weekly sailings fnini Santos and Rio ciaily for theBrazilian trade and fitted with the latest de .laneiro for Trieste and Fiume and,with trai,, improvements offer to tirst class passengers the high- ILSON SONS & est com for CO. shipment, to ali Mediterranean.líast Asiatic and t. w (LIMITED) Kast African Ports. Ali steamers carry a surgeon and a stewardess Free conveyance on board supplied for passen- Steamship Agents and Froprietors oi gers and luggage. DEPARTURES FOR TKIESTE COAL iDJDPOaDS AT The Company issue lst class tickets to Paris and MORAVIA 6th May London. MADEIRA. SANTOS. Fo£ freight ap»>ly to the broker.. SAO PAULO. LAS PALMAS. FOE RIVER PLATE Wm. ST. VINCENT, C. V. MONTEVIDEO. lt. ItleNiven, LA PLATA. PERNAMBUCO. ARAD ist May 18, RUA DE S. PEDRO BUENOS AIRES. And for and BAHIA. ROSÁRIO. Kor freight apply to the Broker. passages other inforniation to RIO DE JANEIRO. BAHüA BLANCA. Theodor Wille Sc Also Branch Eslablishmcnts atCARDIFFaudBARRY W m. R. Mc. Niven, O. 18, RUA DE S. PEDRO. Avenióa Central, 79 ah-hl-eo Workshops at Las Palmas, St. Vincent (C.V.), Kor pitNSHgee and further information to the Pernambuco, Bahia and llio de Janeiro. AGENTS The Royal Mail Contractors to British and Foreign Governments R.M.S.P. Steam Packet and ali the chief Transatlantic Steamship Koiiibauer At Co. Company Companies. Under contract with the RUA GENERAL Jiritiah and CÂMARA, 24. Brazilian üoverninenl.s for carrying tlie maila. Coal.—Stocks of only the very best description Rio de Janeiro. of South Wales Steam Coal kept. Also Stocks RUA 11 D Ifl .JUNHO, 1 A. TAUI.K OK DKKAKTUKKS of Nut Coal, Foundry Coke, Patent Fuel and San toa. Authracite Pea Nuts for Gas Engines. ab-bb.ea X X Date Steamer Destination Tli{5 hoalM alwjiys ready for 8Hrvi«e. SJfflSS. tnrgo Mglilors.—ditto. SOCIÉTÉ April 24 Clyde. Bahia, Pernambuco, St.Viu- Steverioring undertaken. GÉNÉRALE cent,Madeira,Lisbon,Vigo, Cherbourg aud Southamp- Baliu»! suppliii' to ships. Timi»u>o.<« Maritimes à vaptiir «le tou. ülarseilles May Nile. Bahia, Pernambuco, S.Vin- cent, Lisbon,Leixões, Vigo, Repairs to Ships aud Machinery DEPARTURES OF STEAMERS Cherbourg and Southamp- ton. Having large workshops fitted with erticient FOR EUROPE modem repairs of plant, ali deseriptions under- LES ANDES 22ndApril Aiaguaya. Santos, Montevideo and Bue- taken. NIVERNAIS eth May nos Aires. for Ar ago». Bahia, Pernambuco,Madeira, A tflflNTB OF Tll K Lisbon, Marseilles, Barcellona, Vigo, Cherbourg fucijic Steam Navigation Company Genoa, and Naples and Southampton. Shaw Savill & Âlbion Co., Ld. Through fares to Paris lst class f. gold 723 do do 2nd The New Zealand Shipping Co., Ld. f. 550 do do 3rd t. 199 Special attention is drawn to the following: Through fures to Paris return lst class f. 1 1_9 Holdeia of íirst-class tickets, single or return, ínquiries as regards prices etc. should be ad- do do 2nd... f. 882 may break their voyage at any interniediate dréssed to ports d(> do 3rd.... f. 364 ?Tn.d-,^oceed h? any of the PACIFIC STEAM WILSON, Marseilles Genoa, Naples, 3rd class.. llá$0U0 í2^yiSATI0N or MESSAGERIES MARITI- SONS & CO. LTD. MES Comp's Steamers. Barcellona 3rd class 12:$500 2, Rua de S. redro Agents —Antunes For freight, passages, and other information KIO OE JANEIRO dos tantos Ai). apply, Rio de Janeiro—Avenida Central, 14. No. 73, S. Paulo.— 29 Rua S. Bento Io de Março, lst floor. Head Oííiee : — Salisbury House, Santos.—1 Praça Finsbury da Republica E. L. Circus, London E. C. c-be-ea HARRISON, Agent. h-bl-ea x x April 23rd, 1907] THE BRAZILIAN REVIEW 481 ARRIVALS AT THE PORT OF SANTOS Norddeutscher Lloyd. The fi.tie.l. working of the Worth Durliig the week euded April German Lloyd Company year 19th, 1907 (1906) was a very profitable one, and the diví- ^^S^ioní7.-/,3 pei' èe,it--fôr 1905,2 cent for 1904fSfi aud« h/ 6 ce.it .for_¦ 1903. per I.ATI. NAMK OK VKS8KI. KI.AO K.G TON- um,., per The-gross .earniugs were 36.373,588.70 NAGK -«UM marks against 31,627,886.50 marks it? 1905. A.ter\leducting expenses, interest on the loans, and a write-olf of -2l.9_-S.63D._5 marks, there -re- . m-anis a surplus uniounting to 12,786,079.2) April 13 Blake British S. S. 2,396 Barry mark* (against 11059,280.20 13 Petropolis •.. German do 3,093 maarks i»i 1903) and out olthis balance 635,960 marks are added to Hamburg reserve luml, .00,000 th» 13 Âytnoré Brazilian.... do 243 Uio de Janeiro maYks to tlie seán_en's bfeneüt funil, and 2 683,807 30 13 Savoia Italian do 3,'»99 Buenos Aires marks to the renewal fund, leaving (after payment of the directors' fees) 14 Gloria Brazilian... do 253 Iguape for distributiou among 15 Santos do do 587 _«V1í.n(.tn8/62,.l2'50,mtuks the shareholders Porto Alegre and 51,006.05marks to be carried forward. The share capital was increa- Io Jjjptter ...... do do òü7 Kio de Janeiro sed by 2o,000,000 15 King marks last year. As regards this of the world Edwatd British do 2,321 do tlie report says : — part lõ Chili French.... do 3,335 Bordeaux 16 Cavour British do 8.150 Liverpool The emigrai!, traffic to South America showed a steady Incrtase, 16 industrial Brazilian.... do 171 Rio de Janeiro and better boats have been into 16 Thames British do 3.032 put this trad°, but the cargo-carrying Buenos Aires business to and from Brazil left much to be desired. To Argentine 16 Nivemais French .... do 1,367 Marseilles lair ports a 16 Atlattttque do do 3,501 amount ot cargo was obtaiiinble at better rates, but there was little Buenos Aires on the homeward 16 Atttvttá Italian do 1,468 Geuoa profit voyages. The same is recorded with regard to the 17 Fowey Lodge British do 2,075 Cardifl* Cuba service. Nile do do 3,298 \1 Southampt »n 17 Nordeining German do 3.573 Buenos Aires 17 Brazileno Argentine.. do 2,027 Barcelona 18 Chatham British do 2.315 Rosário Hamburg-American Line. The 18 Spartan Ptince... do do 2,059 accouuts of the Hamburg- Ne*. York Amenkanische Packetfahrt-Aktien-G.sellschaf- for the 19Ü6 show 18 Oropesa do do 3.345 Valparaiso that year 18 Oronsa '.. do do 4,523 the gross earniugs amouuted to 34,469,431 marks, against 37,769,784 Liverpool marks in 1905, 18 Rhaetia German.... do _,1_. Btinburg and after dedueting the interest on the preference loans Vd Sirio Brazilian... do 5 4 Rio de Janeiro Ç.'l_,.V™ymarks) t,,ereremnined 32,303,572 marks. From this balance, 2l,/82,200 marks are taken for the write-off and the addition to the insurance reserve and renewal fund, and the pavment ofthe directors' SAILINGS FROM THE PORT 0P SANTOS fees, leaving a net profit of 10,125,000 marks, against 11,000,00. marks Duriuy the week iu 1905, and a dividend of 10 per cent. is declared, against 11 cent. ended April 19th, 1907 for 190o and 9 cent. per per for 1904. The report of the directors for the past year (the Company's sixtieth working states that the main result TON- year) DAT IC NAMK OK V1-SS1CI KI.AG kio KOK must be considered as very satisfactory, although rather NAGK below that ofthe previous year. but it was achieved in spite of many unfavourable circuin- stan.es in various directions. - ' "Atlas" April 13 Mendoza.... Italian... S. S. 3,410 Genoa In the service between New York and tlie West Indies and 13 Roland, German.. do 2.29J Bremen Central America the results obtained were not unfavourable, notwiths- 13 Corrieiites.. do do 2,408 Hamburg tanding the coutiuued competition of the Royal Mail Company. Further 13 Savoia Italian ... do 3,099 Genoa has 14 A Brazilian progress beeu made, the report says, in the services between Ham- ymore , do 243 Florianópolis burg and South America. Outward 15 Santos do do 587 Rio de cargoes to Argentine ports increased • Janeiro to an extraordinary 15 Júpiter do do 567 Montevideo extent, and homeward freights were abundant, but 15 Gloria do do 253 Rio de Janeiro rates were low; this service is worked in coiijunction with the Hamburg- 15 Chili French... do 3,335 Buenos Aires South American Steam Navigation Company. The business in the Bra- 15 Camoens.... Belgian... zilian do 2.649 New York lines is continually incieasing, and produced good results last year 15 Buda ÍÍ Austrian . do 1,516 Fiume in spite ofbad harbour lü Amazonas... Brazilian. facilities and other unfavourable circumstances. do 927 Mandos The fleet now comprises 142 ocean steamers, 16 Industrial .. do do 171 Laguna 29 river steamers, and 16 Atlantique.. French .. several lighters and smaller craft, tlie total book value being 159,769,463 do 3,501 Bordeaux marks 16 Thames British... do 3.032 Southampton (£7,988,473). The share capital is 105,000,000 marks; 4 per cent. 17 JVivernais... French... do 1,363 Buenos Aires preference loan, 10,125,000 marks; 41/2 per cent. preference loans 17 Coblenz German.. do 2.001 Bre mon 38,437,500 marks; reserve fund. 15,937,609 niarks; renewal fun d 17 Nile British..., do 3,298 Buenos Aires 3,000,000 marks; insurance reserve, 1.4,051,097 marks. 17 Corsica French .. do 1.767 Havre 18 _>. Luiz Brazilian. do 1,255 Mossoró 18 Oropesa British... do 3.345 Liverpool 18 Oronsa...... do do 4,523 Valparaiso .18 Teviot do do 2,108 Antwerp 18 South Waite do do 2,365 Guan Messrs Vickers Sons and Maxim. In view of the fact tha 18 Brazileno... Argentine do 2.027 Buenos Aires Brazilian Government is ordering a battleship from M_._«r._ Vickers Son 18 Rauna British... do 1.951 New Vork and Maxim the following report — 19 Sitio is interesting : Brazilian.. do 554 Buenos Aires "The report o<* Vickers Som and Maxim, Lt*.., for 19 Attivitá Italian..., do do 1906, submitted 1,468 to the meeting on March 19th at Sheffield, states that the foreign business has continued to show the development mentioned in the last report. The directors recommend a dividend FOREIGN VESSELS AFLOAT at the same rate as last year, after writ- ing the sum of £250,000 off "goodwill and 'ANI.IUO patent rights," iu pursuance of IN i.K) 1)1. IIAUIKHJU the policy initiated two years ago of writing down this item in the balance- on April 19th, 1907 sheet as not representing tangible assets. Cash is thus retained in the business that will be available in due course for the repayment of the de- bentures. Sums have also been out of Date of Date provided profits towards the STEAMERS of rebuilding ofthe company's entry entry SAILING VESSELS olfices at Sheffield and Barrow-in-Furness, both of which have for some time past been much too small for the staff. The directors were able to acquire last year a quarter interest in the well- Feb. 2i VVestmoor ª 2,315 known firm of Whitehead and Co., which has works at Weymouth.and at ' Febr. 2 Canada Tons 2,137 Fiume, in Hungary, Mar. 21 Itichar? an . 2,587 » 4 Errol''. ª 2,887 for the manufacture of torpedoes and their equip- ! 25 h"assala ª 2,498 nients, a very importaut element in X 17 Agostino M. ª 1,016 the armameiit of warships, and prac- » 30 Alarchioness of Mar. 7 Sina/t 419 tically the only one not manufactured by this companv in its own works. Bute 2,794 » 8 Endymion ª 1,282 The prospects for 1907 are'satisfactory. After the usual depre- Angola ª 2,801 providing April 3 » 10 Humberto 1,304 ciations, &c, the profits of the were £879,905, less the sum writteu ª 7 Ethehtan ª 2,518 > 12 Manzií ª 480 "goodwi year ª 9 Reveil 214 off against l and patent rights" £250,000, and after adding the April 5 Numberg ª 1,120 «uni brought forward from ª 10 Bertholey ª 2,433 6 Emihe ª 377 1905, £215,146, there is a credit balance o% ª 11 1 tiveres N 3,'_07 King's Counly... ª 2,061 £845,050. The directors now recommend a dividend of 2s share 6 of per (free"' ! 13 Cunaxa ! 2,048 incoine-tax) on the Ordinary shares, making with the Ínterim dividend | ª 13 índuna 2^874 3s per share, or 15 per cent. for the year, leaving a balance to carry | ª 14 Guuther ! 1,913 forward of £218,800. The engagement of Mr. Douglas Vickers as a ª 14 Cambodge 2,503 managing ª 15 Buffon B 1,459 director ofthe company will expire at the end of the present ª 15 Hydi D 2,626 year, and his reappointment will be proposed to the shareholders at the ª 16 Ueldelberg .. ª 2,145 annual meeting." ª .16 Craigandaran.,.. ª 1,779 ª 16 Campinas 1,972 ª 16 Paliodon Hall 2,206 ª 17 Canning ! 3,159 ª 17 Eastern Prince... ª 1,378 THE FREIGHT MARKET ª 19 Yernambuco ª 3,105 ª 19 Nadia ª 1,553 Itritish. The general condition of the freight market bo far as homeward busiue s is concerned is disiippointing, but whether this present Total—Tons 52,386 Total—Tons 13,083 inactivity in some directions, and decline in rates in others, is likely to continue, it is impossible to predict, as much depends upon the trend of IN «ANTOS IIAI-liOUli events in the grain markets, etc, during the next few weeks. The outlook at is certainly somewhat on April 19th, 11)07 just present gloomy, as rates now rttling are not suffioiently remunerative to enable shipowniug generally to be carried on upon a commercially sound basis. Date of Coal rates from VVales to Rio are 13... 3d. to 13s. 6d. Pairplau, STEAMERS Date of entry entry SAILING VESSELS March 28th. Argentine. lla-tes to Rio and Santos have dropped since our lasj issue, while Porto Alegre, Pelotas and Rio Grande have stiffened some- April Bellaura » 1,739 Mar. 30 Tarenlalis Tons 544 > Airedale > 1,949 what. Blake » 2,396 We quote from B. A. as follows : ² . Velropolis > 3,093 To Bahia and Pernambuco 22/, to Pelotas 26/, to Porto Alegre 28/, to King Idwall...,., 2,321 Desterro 20/, to Antoniua 16/, to 3. Francisco (Paranaguá) 16/, to' Kio. Cavour 3,150 Grande 16/, to Santos 12/, to Rio 12/. . . Foiuey Lodge.... 2,075 %- With the usual 1/. to 2/. extra from up-river ports. The Times Notderning 3,573 of Chatham 2,315 Argentina, April 8. Spartan Prince. 2,059 -Local .flsirlcet.—The forward engagenieut.i for the week were as Rhaetia 4,141 follows:— Total—Tons 28,811 Total—Tons 544 Per tí. S. Camoens..... for New York.. 4,000 oags of colfee 482 THE BRAZILIAN REVIEW April 23rd* 1907.] CURRENT COFFEE FREIGHT RATES Rangoon via Trieste 55/-4 5 °/0 55/- 4 5 •/. FOR THR WKKK RNDKI) APRIL 20TH, 1907 San Sebastian 56.50 fres. in full 60 fres. in full Santander ... 60.50 fres. in full 60 fres. in full Rio Sanioò °/0 Ainsterdan 50/- in full Sanisoun ** 6*5.50 fres in full. 63 fres. 4 10 Aden Dia Trieste 50/-& f> °/0 50/- 4 5 »/0 Seville 50 fres in full 50 fres. in full *fr Antwerp 1.000 kilos 40/4 5 °/0 35/- 4 5 »/0 Do via Genoa or Marseilies.. 66.50 fres. iu full. °/0 Alexandria** 64 fres. in full. fre.-. 4 10 ¦»/, Shanghai via Trieste 65/-4 5 65/- & 5 60 70 °t0 Alicante 50 fres. in full. 50 fres. in full. Sniyrna** 61.50 fres in full. 55 1/2 fres. & 10 °/0 °/« Algiers via Marseilies 62 fres. in full. 46 1/2 fres. & 10 »/„ Southampton 1.000 kilos 40/- 4 5 32/6 4 5 °/0 Almerie 50 fres. iu full. Suez via Trieste 50/ 4 5 °/0 60 fres. 4 10 Aguiles 73.50 fres. in full. full Do via Genoa or Marseilies... 64 fres. in full. 'via 76 1/2 fres. in «outliampton 42/6 & 2 1/2 °/0 Salonica** 61.50 fres. in full. 55 1/2 fres. 4 10 °/0 » New York... 42/0-45 °/0 Sulina** 69 fres. iu full. 62 fves. AW°U » Haitlbuig °/0 fres. in full. Algoa Bay. 42/0 & 2 1/2 Taragonne 50 fres. ir. full 50 » llotterdani, Ant- Trebizond ** 66.50 fres. in full. 63 fres. 4 10 °/0 werp or Brenien. 42/6 4 2 1 /2 P/ò Trieste... 40/-&57- 35s. 4 5 70. » Buenoe Aires.. 42/6 in full. Tunis** 62 fres. in full. 58 fres. 4 10 °/0 Bassorali 108 fres. in full. 84 fre*. 4 10 ?/„ Valeneia 50 fres. in full. 50 fres. in full. Barcellona 35 fres. in full. 38 1/2 fres. in full Do via Genoa or Marseilies 66.50 fres. in full. Valparaiso 5°/° via Ilaml-.urg 78/0 (options) 47/6 in full. ** 66.50 fres. in full. 67 1/2 fres. 4 10 » Trieste 55/-4 u/° "/„ Varna 7 5 55/-4 5 Veuiee Genoa Marseilies 60 fres. i 11 full. 40 fres. 4 5 °/0 Beira y> Soiitlianipton — via or Vigo 56.50 full. fres. » llotterdani, Antwerp frs.in 38.50 Yokoliama via Trieste 65/- 4 5 °/0 65/- 4 5 or Brenien 78/G * 2 1/2 °/ó 7„ Zanzibar via Trieste 55/-4 5 °/„ ...... 55/- 4 5 °/0 Bilbao 50.50 fres. iri full 5).50 fres. in full * ü/n lloyal Mail Steamers in combination with HouilderBros.. Brenien 40/-4 5 35/.&5»/0 ** Confereuce rates via Marseilies, Genoa or Tri este. Bordeaux, 900 kilos 40 fres. 4 10 °/0 35 fres. 4 10 °/„ °/0 ' Bom bay via Trieste 50/-4'5 50/- 5 7o Braila** 71.00 fres. in /ull 62.50 fres. & 10 »/, West Coast Port_ °L Srindisi** 60 Ires. in full. 51 fres. 4 10 Punta Arenas 45/ & 5 °/0 45/ 4 5 hag. 60 kilos.. 1&200 7„ « * Buenos Ayres per 1S500 Corral 60/ 4 5 °/0 60/ 4 5 Beyroutli** 69 °/0 70 fies. in full. 75 fres. & 10 Coronel 45/ 4 5 °L 60/ 4 5 Cadiz line) 35 "/„ 7o (Spanish fres. 4 10 Caldera 50/ 4 5 °/c 50/ 4 5 Cadiz via Genoa or Marseilies.. 60.50 fres. 70 in fui 38.50 fres. Taltal 50/ 4 5 °/0 50/ 4 5 Do via Hamburg 54/-in 70 full. Antofagasta 5.0/ 4 5 °/0 50/ 4 5 Calcutta via Trieste 5Ô/-& 5 "/„ »/a7 70 55/- 4 õ Iquique 50/ 4 5.°/0 4 Carthagena 50 fres. 50/ 5 7„ iu ull. 50 fres. in full. Coquinibo 50/ 4 5 °/0 Do .iaGenoa or Marseilies 06.50 fres. in full. Talcabuano 45/ 4 5 °/0 Do tia Hamburg 54,'-in full Callao 50/ 4 °/0 Colombo 50/-&5o/o »/o 5 50/- & 5 Valparaiso 45/ 4 5 "/„ Corfu** 66.50 fres in full. 60 fres. 4 10 °/„ °/0 do (option) 47/6 4 5 °/0 Currachee 50/-A 5 50/- A f) 70 CoruniiH 53.50 fies. in full. 53.50 fres. in full Do via Hamburg 54 - in full. Cavalla** 66.50 fres. in full. G3 fres. A 10 °/0 Cliristiania 52/- in full í|PM8J5 tákp mú^tpvk direet 42/6 °'0 jÊ Copenbagen 4 5 37/6 A 5 70 via New York 42/6 A 5 "'/,, » Hamburg 37/0 4 2 1/2 °/0 BRUCE PEEBLES AND COMPANY » Buenos Aires*. 37/6 in full GapeTown °/c » Soullianipton... 37/6 4 2 1/2 Tbe report of Bruee Peehles and Company, Ltd., for 1906, to be » llotterdani, Ant- submitted to tbe meeting at Edinburgli, on the 4th states that •/„ próximo, werp or Brenien.. 37/6 4 2 1/2 the net trading profit for the year, after providing for depreciation and Coiitftantinople 6!.50Ires. in full. 55 1/2 f n. 4 10 u/n ali nècessary charges in connectioh with the manágement of the business, amount via New York 50/- 4 5 °/u to £45,993. Deducting directors'and inanaging directors' reuni- neration » Buenos Aires. 42/6 and auditora fees, interest on debentures and iucome tax, there a balance » Sotitluimptou 42/6 4 2 1/2"/. is of £38,343, to which falls to be added £7,271, brought for- l>lirl> ward at Hamburg 42/6 & 2 1/2 "/„ 3lst December, 1905, making the total amount to bedealt with £45,615. The » llotterdani, Ant- directors recornmend placing to preferenee shareholders' weij» or Brenien. 42/0 & 2 1/2 "/„ speciai reserve fund, as provided by tlie artieles of association, £3,834; payment otdividend, at the rate of6 cent. "/„ per perannum, on the ordinary viu New York 70/-& 5 shares 111 respect ofthe year, less inconie-tax writing off the balance of » 78/6 ; Hamburg in full. expenses 111 connection with issue of shares and debentures in 1905, and » °/0 DelrtgoH Soutliaiuptoii.. .. 7:i/- 4 2 1/2 the whole of the expenses of the issue of shares in 1906, £7,335 trans- Bay » llotterdani, Ant- ; íernng to general reserve account, £12,000; carrying forward. £6,722. » "/„ werp or Brenien.. 70/- & 2 1/2 lhe preferenee shareholders' speciai reserve fund is invested in trustee securlties, ¦viu New York '»/„ and, including the suni to be transferred there to, will amount 50 4 5 to £11,556. The » Hamburg 50/- & »/0 general reserve account, including the suni to be trans- ""' ü |/2 íerred thereto, will » Soullianipton.... 50/- amount to £27,000. Tlie shares acquired by the com- Kast 4 2l/2"/0 in and Rotteidain, Ant pany power traetion companies,. as part payment of certain con- London traets, have been werp or Brenien. 50/. &2 1/2 "/„ valued by tlie directors considerably under and ' they beheve the par, B SÉ Buenos Aires .... 47/ii in valuations to be reasonable. Ln order to cope with the full. expansion ot the company's business, it is proposed' to increase the bor- ITiii me 40/-&5ü/o 35n. & 5 u/(l rowmg powers ofthe company by £100,00'.). Oalatz** 71 .õ.i IVcs. .i iu full. 67 fres. A 10 7 Genoa 1.000 kilos 40 fres. "/„ °/0 4 10 35 fres. A 10 ii Gibraltar viu Genesi C6.0Ü fres. in full. 5C fres. in full VAL DE TftAVERS ASPHALTE Gijon. 50.50 fres in full 56.50 IVes iu full PAVING Hamburg 40/4 5 "/„ 7,, 35/ & 5 tl,e Val de Tr«vers Asplialte Paving Company, Ltd.! Havre, ÍIOO kilos 37.50 fres. 4 10 '»/„ rfor T,ln,.rCportof1906 35. fres. ... )C°/o presented at tlie meeting on the lOth inst states tha* "7 Bongkong via Triesle. 60/- 5 "/o 60/- °/0 atter making & 5 the tollowmg appropriations—depreciation and cost of Kobe via Trieste 65/- 4 5 mainla.ning 65/- & 5 70 plant and machinery, £3,185 ; written ofí cost of buildings, Liverpool 35/ & 5 "/ £ 04 ; written ofí cost iiiining property, £1,000 adding to reserve fund, London 1.000 kilos 40/-& 5 «»/0 35/&5'7„~" ; luiKl' £1',0°5 expenditure in Venezuela, Do (options). 40/- 4 5 «/0 JJOb,unr £2,/a9;íb-o,lttíll-/lCei'eitílV,tí written off plant and machinery, New York, £3,103—the Malaga 35 fres. 4 10 °/„ 38.50 fres. net prohts ot tbe y^.r are £22 597, which with tbe suni brought forward, Do via Genoa 4 Marseilies 66.50 Ires. in full. £0,19/, amount to £2/,79o. From this lias to be dedueted interest on thé Malta ... .. do do 62 fres in full. 58 fres. & debenture stock, '^5 fres. IU 7 anioonting to £6,900. An Ínterim dividend of6d. Marseilies 1.000 kilos 40 fres 4 10 8 Kl.are was per ** /o & 10 /o paid in October last. A further dividend of Is Messina 5(5 fres in full. °/o ot per share. free ** TO fres. A 10 mcon.e-taxjs now reconimended, making together Is Metelino 71.50 fres in full. Gel. per share, or t'8 fres. & 10 7o / 1/- per cent. for tlie year, the balance canied forward Montevideo per hag.00 kilos., 1S200 being £6 195 Mombassa via Trieste * • Õ5/-4 5 55/. 4 r, 70 via New Yori, 70/- 4 5 •'/„ » Hamburg 50/- & 2 1/2 "A Mossel Bay { » Soutlianipton.. 50/- & 2 1/2 °/0 $«íIèM!j §m uni) ênkvpkt » llotterdani, Ant- °/ werp or Brenien.. 50/- 4 2 J/2 SUNDRY THAFFIC Mostaganeni-Marseille-or Genoa 64 fres in full.° 58 fres. & 10 RETÜRNS Naples ... 54 7 fres. in full. 48 1/2 fies. A 10"/ New York, Liners per bag 35,;. 4 5 °/0 35.,. 4 5%, Milenge l.ntesi Karnings Ke|iorteil N. Orleans Liners » » 35e. & 5 °/0 35(!. à 5 "/. Aggregate to date ** 66.50 —— Odessn fres in full. 62 fres. A 10 »/0 Kailwnv °ra» 62 ires. in full. 50 fres. A 10 °/0 Week or Pasajes 60.50 IÍN'7 Ht06 191)7 1$)('(5 fres. in full 60 fres iu full Month. 19U7 1906 Do Hamburg liners 54/-in full. Palma de Malloiea 53.50 fres in full firass. «t.. Penang via Trieste 60/-4 5 °/0 »/o 60/- & 5 Boutli... ] lo ] 10 Jan. 37.U6 Palermo 56 fres. in full. ¦¦iSAcü 37,146 33,_-,6 Patras** 66.50 fres. in íu!l. 60 fres. & ]0«/ pireus** 61.50 'full. fres. in 57 1/2 fres. A "> 10 Leopoltliiuio l,J78 Port Said** 64 fres in full. 55 fres. & 10 °' 1,400 April 13 23,033 M,0!)4 330.70S °/0 191,607 Rotterdaru 40/- 4 5 35/-4 5 «/o To Delagoa Bay & Beira the /reights must be here or in Haml paid mrg a Earnings reported in pounds, b in mureis. ¦ -- ² I _-: ¦' ¦" -.¦¦--—_ M. B ² A i "'" " «¦" •!.' W_w__iWi