Iranlian mm

llitemv.. , .1 A WEEKLY JOURNAL OF TRADE, FINANCE, ECONOMICS, AND SHIPPING

45 VOL. 12 RIO DE JANEIRO, WEDNESDAY, JWVEJvIBER 9t__, 1921 N. (0 z

S_f_ra_p__"'.'_--; '_h?P w'"'-+'.-'I W ___i____ k ./•/¦'.- ! R.M.S.P.&P.S.N.C. REGULAR SERVICES OF MAIL AND PASSENGER STEAMERS ____\ A from bPWíí to SPAIN, PORTUGAL, FRANCE AND THE fiZpZPlm¦¦. (Via St. Vincent, C. V., and Madeira) /.!-¦ ;•• ;*7- lS0%

CARGO SERVICES È0A,.Z%jm^0^- to ¦0iA. ¦:¦¦¦¦ 'iSicSf";¦; V-tT-•*.!,' UNITED KINGDOM AND CONTINENTAL" PORTS

AL80 MAIL, PASSENGER AND CARGO SERYICES to

•*' _ _'r*»^S^Iilliil«Í^^_"_-E^I'• 'í^_!__^"''---",'--''~v RIVER PLATE •^ • •'"' \ -'A0A__&„___ Sií AND i_^,w_f's'^;'^í-í >?f:_5_?HK/_rI«í2§__ I _Pa^_í«if__áá5'#i' GMmJr^vf PACIFIC PORTS $__. ÍWwSfiÍ_Íf^D^|2^Í^Sfc_ ' < ft-_M-lffl^C_V_w_^Hra_a_H__BOT)(_____£___> . ;•. ;:.7-T^ri|V<. ^T^^__*?8S_*8_P_P-5_íSS_K_» ' __/.r^ ~ 'T\V »r_i^«T___Tt- >jFt03>!s. '¦"'- /ffijWíli.v-M'': '¦'_¦' V»*'<':ê£A-i'__t___»J 6_a* T_T __S*^_1 A ¦¦ _r_T^____r"^*-í_r'r'___í_?Í_S-____ .tB".^.lJ-lv__T' -'L'•'-'__ **)': • ' Vi_tr W:V§"* '.."'-jV'/v } J__# __5^______fír___ !_I_$_Í_fÍ< V f *¦ V ii^ffrfr ^_rmmJmtmw B?____p«^_Í^^_SÈ__ f_._____^_i_^_i3<:'c'-•''" _*t_í' • '"> '"_'•-'' -Otw _T__p^^__>_Ía_Í "., ' æ' Í1ÍÍ»__b3_S_b 1'//. ¦* •^SffiI _>eí*?___!5If

____í!Í^^'^>'_^^-;;^_-._{ _•'•¦• ____ll8__Bi%.^>-'«í« tS Wa *£_.•, - ^ç-vvyi-_t->^.f^v-''•¦¦'-'- **V i{ /"-Cv.,

t_r ;!.'*' IjWf-]vj^^;^^^,^^^^g^jMaA ^^Í,^_^_TO- _t__W___B5B__i_^ S B3Bf!5_F^_n _

**" £/'.;'•.. i^A^mjmmw/mj^m_____BS5&HHR"-'-i8âá''Jw5 For further particulars, sailing dates, &c, apply to t;;^PPíW^MÍ_-=iÍlf? I' t THE ROYAL MAIL STEAM PACKET CO. THE PACIFIC STEAM NAVIGATION CO. _'» v ii nil r____a__ •, Li _-"-1— n__3____H_B_Bp*_ 5 3' 5 5 Avenida Rio Branco, 53-55 % 1#°--^—-^ ______SAO PAULO, Rua da Quitanda 18 (corner of Rua São Bento). SANTOS, Rua 15 de Novembro 190 9th, 1921. WILEMAN'8 BRAZILIAN MVI1WNovember II

-^*

PHILADELPHIA NEW YORK BUMOSMEES BEAVER ST. LAND TITLE BLOC.44 ¦'£;'.'.. **•"'

GANO, fflOOBE CO. í COLLIERY PROPRIETORS, COAL EXPORTERS TJ. S. Navy Standard Coals;- POCAHONTAS PENNSYLVANIA STEAM NEW RIVER P Gas Coals:-I WESTMORELAND FAIRMONT KANAWHA Coke-Pig Iron - GANO, MOORE CO. AVENIDA RIO BRANCO, 40

CABLE ADDRESS, ALL OrFICES TELEPHONE: NORTE 5092"GANOMOOKE"

_ WILEMAN'8 BRAZILIAN REVIEW III November Oth., 192L.

LONDON AND BRAZILIAN BANK, LIMITED. ESTABLISHED 1862 £3,000,000 v l / Capital, 150,000 shares of £2Q each fc Capitalo„»i*«i pald-up„,w ... £1.500.000 £í,500,D80 oS: Fund £1,500,000 % Reserve tf HEAD OFFICE .  7, T0KENH0ÜSE YARD, LONDON, E. C. RIO DE JANEIRO BRANCH RUA DA CANDELÁRIA corner of RUA DA ALFANDECA. PARIS BRANCH. 5, RUE SCRIBE, PARIS. Draws on Head Offices and following branches: Lisbon, Oporto, Manáos, Pará, Maranhão, Ceará, Pernambuco, Babia, Santos, Aires, Rosário de Santa Fe, Paris and New York São Paulo, Curityba, , Porto Alegre, Pelotas, Montevideo, Buenos (Agency^following Bankers: — Messrs. Glyn Mills, Currie and Co., London; Société Générale, Paris and Branches; Credito Banco di Roma, ; Banco di Roma, Egypt and Palestine; Hongkong and Shanghai Banking Corporation, índia, Italiano and Banco do , Chile; Branches of the Banco de China, and Japan; Credit Lyonnais, and Lazard Bros., & Co., Spain and in ali lhe and cities of Brazil, , , United Slat.es & Europe. C?)RRESPCn?DENTS. — The Bank has Agents or Correspondents principal ports

SHIPS DRY-DOCKED FOR REPAIRS AT SHORTÈ8T NOTICE. W"_ J_ EPPS. MARINE REPAIR SHOPS. RUA DA SAÚDE, N? 128 — Telephone Norte 6621. RIO J3*D JANEIRO. CONTRACTOR TO. H. B M's. Navy. — U. S. NAVY MARCONI'S INTERNATIONAL MARINE MARCCNrS WIRELESS TELEGRAPH Co. ¦}«1; MECHANICAL, ELECTRICAL, & MARINE REPAIRS DECK & ENGINE ROOM STORES SUPPLIED SPARE PARTS MADE & SUPPLIED AT SHORTEST NOTICE. HULLS CLEANED & PAINTED EXPERT DIVERS WITH LATEST SUBMARINE BOILERS SCALED, light & Telephone equipment. OXO-ACYTILENE & ELECTRIC WELD1NG (PATENT N. 6391) m9mmmmtmmmmmmtmmmmmmtmmmmmmmmmmamM99mmamm.\

THE LEOPOLDINA RAILWAY COMPANY, LIMITED Central Office, RUA DA GLORIA, 36 — RIO DE JANEIRO Telephone Central 2404 — Cable Address: LATESCENCE with 298 Geraes Length of Line, 1,831 miles, Direct comnmincation between the States of Rio, Espirii* Santo and Minas stations serving an. área of 200,000 square miles. Traffic carried in 1920:— Luggage, 92,603.Goods, Tons, 1,654,26o. PassengersPassengers, No 11,807,905.ii,TRA|N8Parcels and Tons, LEAVE FOR THE INTERIOR-FROM NICTHEROY: Porciuncula and branch lines, daily. 30 Express-Campos, Miracama, Itapemirim, and Portella, daily. 00 Express-Friburgo, Cantagallo, Macuco Saturdays and when:J™T£a 15.35-Passeio-Friburgo^ and restaurant oar8. Electric 2100 i—V mm. Ketum tare, W00. ^^^T^^^Z^^^ S*V Iunch and dinner served during journey. RIO — PETROPOLIS. WINTERTIME TABLESTJMMER. lst November to 31 st May. From lst June to 31st October. From DAYS. WEEK DAYS. WEEK dep. 6.00 8.30 13.35 15.50 16.20 17.50 20.00 Praia Formosa, dep 6.00 8.30 12.00 16.20 17.50 20.00. Praia Formosa, AND HOLIDAYS. SUNDAYS AND HOLIDAYS. SUNDAYS dep. 6.00 7.30 8.30 10.25 15.50 17.50 20.00 Praia Formosa, dep. 6.00 8.30 10.25 16.20 17.50 20.00 Praia Formosa, EXCURSIONS SPECIALLY RECOMMENDED. views during trip: 1 hour, 40 minutes, lst class Petropolis._2,700 feet above sea levei, magnificent climate,beautiful return 4$800. Stone ballast, no dust. traiu. Fare 10$80O lst class return (Saturday to Monday.) FriburgO-2,800 feet above sea levei. 3 hours, 25 minutes ly passeio useful information ro: mileage books PTTTDF ROOK AND TIMETABLES published bi-annually-price $300-containing

other articles of anterest. map of L. R. system; advertisements, views, and sundry ;.*::* Nóvember 9th, 1921. IV WILEMAN'8 BRAZILIAN REVIEW LAMPORT & HOLT LINE Mail and Passenger Service Between NEW YORK, BRAZIL AND RIVER PLATE .'VVV VV;;' .¥': \ zm yyy yyyy V yy ?•¦ y ¦¦>., ; I7v "VAUBAN" 10,660 tons. 01LBÜRSERS BUILDING

:::'V7,!£<_ ''VESTRIS" 10,490 tons 'VANDYCK" 13,M0 tons Rl^piíV-,i;*; i7;iV7 M^w^M^B: .7->':{7"v.;v.:,::í-,v ' '¦¦'¦ ' 7:77' ;¦ ¦ .''-V;7-L'7;::> /7i.->~iitaíV-

3|^^^^^MÍ_S^7''f¦—::.^,:~ffsi:^v;~-. :..^^^«t^^^^-^a-8MÍ_-e-a-ai Oabins de Luxe and Staterooms with one, two or three beds and bath-room. Ali steamers fitted with Wireless Tetegrraphy, Laundry, Gymnasium etc. FOR FURTHER PARTICULARS, APPLY TO LAMPORT & HOLT, LTD. Telephone No. 6671 - RIO DE JANEIROP. O. BOX 969 Santos ' -F ' S HAMPSHIREBahia & Co. Ltd.,P. O. B. lO.-São Paulo-F. S. HAMPSHIRE & Co. Ltd.,P. O. B. 32 F. STEVENSON & Co., Ltd. PEN NORSKE SYP-AMER1KA LINJE (The Norwegian Line) REGULAR SERVICE BETWEEN NORWAY,-vn_MluIA_°RWAY' DEN^A*£TT Y\ . V \ amh & FINLAND%%^ \ = BRAZIL. Rfy™AND PLATE FOR EUROPE:— FOR RIVER PLATE:— m.s. COMETA—MIDDLE NÓVEMBER, s.s. RIO DE JANEIRO—MIDDLE NÓVEMBER. <

For further particulars apply to:— RUA DE SÃO PEDRO NO. 65, RIO DE JANEIRO. FREDRIK ENGELHART - Agent - RUA 15 DE NOVEMBRO 172, SANTOS. REDERIAKTIEBOLAGET NORDSTJERNAN

FLEET: 26 STEAM AND MOTOR SHIPS; TOTAL TONNAGE. 120,000. IN CONSTRTJCTION: 53,800 TONS. Regular Service between:—Finland, -Brazil. Finland, Swetíen-River Plate.. .Finland, Sweden-Chile and Peru. Swetíen-North Pacific, and vice-versa. FOR THE RJ VER PLATE: Kr. MARGARETA—Mid Nóvember, FOR SWEDEN AND FINLAND. SUÉCIA—First Half December. SAN FRANCISCO—Middle of December. Kr. GUSTAF ADOLF—First Half December. PACIFIC—End of December. Wm fartb«r pamonLars apply to the Agent: — — LUIZ CAMPOS 84, RUA VISCONDE INHAÚMA, 84, RIO DE JANEIRO. «SSematfs Brtólimt tmã ,.... $ m A WEEKLY JOURNAL OF TRADE, FINANCE. ECONOMICS, AND SHIPPING

VOL. 12 RIO DE JANEIRO/ WEDNiESDAY, NOVEMBER 9th, 1921 Ho. 46

The Rio de Janeiro Flour Mills & Grânaries, Limited

telegrams: General Telephone: Post Office Box cc 1450 Norte Epidermis' Sales Department 165 » No. 486 Flour Mills: RUA DA GAMBOA No. 1 DAILY PRODUCTIÓN 15 000 BAGS. ¦/" u!''"'*^' -., * te'U.UXY Cotton Mill kua da Gamboa, No. 2 450 LOUMS. DAILY PRODUCTIÓN 27.000 METRES. HEAD OFFICE — 48, MGORGATE ST. - LONDON E. O. BRAXCHES •uenos Aii'e» Rosário 443, CALLE SARMIENTO. 660 CALLE SARMIENTO SÁO PAULO: Rua Boa Vista, 13. AGENCIES Victoria, Bahia, Pernambuco, Ceara, Curityba, Florianópolis, Rio Grande, *-"elotas & Porto Alegre. The iViiliVi ni£ti~kLi5» of llour are: «NACIONAL» "8EMOLINA" •BÜLA-JNACIONAL» ••BRAZILICIKA', "GUAKANY" AND FOR SUPERIORITY HAVE BEEN AWARDED Gold Medal Paris 1889. *v First Prize Brazil 1908 First Prize Brazil St. Louis 1904. First Prize Brussels 1910 First Prize Turin 1911. OFFICES —RUA DA QUITANDA, 108- RIO DE JANEIRO. B3CS _l

BRAZILIAN WARRANT COMPANY, LIMITED lathorized Capital £2.000.000. Capital Paid ao£1.500.000. Reserve Fund.£100.000 HEAD OFFICE: Brazil House, 2 Great St. Helens, London. E. G. 3. BRÀÍ CTES AT: Santos, Rio de Janeiro, and São Paulo. IN. U. 8. A. : Brizilian Warrant Co., (Inc.,), New York, New Orleans, and Chicago. AGENCIES AT: Campinas, Jahú and São Carlos do Pinhal.

CONDUCTS A GENERAL CONSIGNMENT AND COMMISSION BUSINESS. MAKES A SPEGIALITY OF ADVANCES ACAlNST COFFEE, SUCAR, CEREALS AND GENERAL MERCHANDISE. CUSTOM HOUSE CLEARING AGENTS. GENERAL IMPORTERS. November 9th, 1921. 1780 WILEMAN'8 SRAZILIAN REVIEW

'he Great Western of Brazil Eailway Company, Ltd. Direct communication between: On Sundays, Tuesdays, Thursday and Saturdays. RECIFE (Cinco Pontas) and Maceió and Jaraguá. returning on Sundays, Mondays, Wedneedays, RECIFE (Central and Barão do Rio Branco) »nd Fridays. RECIFE (Brum) and Parahyba and Cabedello I COMMUNICATION BETWEEN Tuesdays and Thursdays, RECIFE (Brum) and Natal •nd vice-versa, on Sundays, at Independência. PARAHYBA and Natal ( sleeping The Great Western Railway systdm, with 1,621 klms. of lines at present in traffic, serves the following States: Área sq. klms. Population ALAGOAS 68,491 700,000 1,300,000 PERNAMBUCO 128,395 Note.—The figures relating to inhabi- PARAHYBA 74,731 ^500,000 tants refer to the year 1906; 20 per cent may RIO GRANDE DO NORTE 57,485 480,000 safely be added to arrive at approximate figures for 1917. TOTAL 319,102 2,980,000 Development of the system and its traffic since 1905. Klms. in traffic PopulationGoods, tons 1905 1,276 1,813.444 708,935 1910 1,475 2,214,503 907,135 - 1915 1,621 1,975,586 1,066,260 1916 1.621 742,390 1,192,394 1917 1,621 3,289,562 1,366,660 ItíJ6 1,621 3,720,075 1,470,916

Western The favourable conditions and steady progress of this zone The steady progress of the zone served by the Great of European and American investors shcwii by the above figures cannot fail to undergo further con should attract the attention the Great Western Railway. siderable impulse when the construction of the Porto Jaragua to the zone served by Grande do Norte). the zone is exceptionally healthy and, in- (Altrgoas), Cabedello (Parahyba), Natal (Rio Although tropical, resorts, like Caruaru, Garanhuna, àu ! Recife (Pernambuco) is complete. deed, oounts several health whilst. to which reaidents of other and less The ph-ns and estimate of the first have been completed, Floresta dos Leões, etc, toe confetixction of the Ports of Cabedello and Natal is being healthy districts habitually resort. lowlaud and parrjoci out under the administratipn of the Federal Government. The staple products of the zone are sugar in the It is expected that construction will be accelerated on the con- cetton in the hinterland. clufiion of the present crisis. The soil is extremely rich And gives a splendid return—even and in The construction of the Port of Recife on a scale without manures—for cultivation of Indian corn, beans, mandioca, most up-t>o- U.ciinicai conditions that will oonvert it ánto one of the carnataba wax, maniçoba, cocoa, coffee, etc. -porta the is well advanced; an área amply dato of Continent, Almost the entire region served by the Great Western Rail- traffic has been completed and opened for K>ifficient foi actual way is considered amongst the best in the world for tropical traffic. fruits. The geographical position of the Port of Recife is exceptionally The of pineapples, cocoanuts, mangoes, pinhas, bananas advantageous, as it ia practically the obligatory port of call for quality and etc, in the north-east of Brasil, is famous, and a.í /ships from, both Europe and North America destined for South goiabas, grown their and export certain, in the near future, to take America and vice-versa, as well as for ships bound from either production large coast of North or Centra] America for the Southern Atlantic, veiy proportions. already exist, i>hough this industry whatscever their destination. Important canning factories its and its rèsources untouched. Owing to its advantageous situation, Recife is the port for is yet in infancy practically by the Great Western most of tho produce of the rich tropical zone of north-eastern Information regarding the zone served the Brazil, a fact which cannot fail to contributo considerably to the Railway may be obtained on application to any of Company's piogress of the neighbouring zones likewise. offioes as below:— RECIFE—Rua Barão do Tpiumpho n. 328— Pernambuco. RIO DE JANEIRO—Aveniáa Rio Bpaneo n.117, 2' andar. LONDON—River Plate House, Finsfoury Cireus, E« C.

Í^^BSê^^ 1781 BRAZILIAN REVIEW November 9th, 1921. WILEMAN'S

November. BRAZILIAN RéVIEW. VAUBAN, Lamport and Holt, 29th "1Editor—H.WILEMANS F. Wileman. HURON, Munson Line, 29th November. LEGION, Munson Line, 12th December. OFFICES: BI RUA CAMERINO. AMERICAN VESTRIS, Lamport and Holt, 23rd December. Cah.a cio Correio (P.O. Box) 809, Rio de Janeiro. SCUTHERN OROSiS, Munson Line, 27th December. Ali Communications to be addressed to the Editor. AEOLUS,' Munson Line, 9th January. NORTE 1966. TELLEPHONE: Lamport and Holt, 14th January. "REVIEW," VAjSARI, Tel. Address— Rlolaneiro. VAUBAN, Lamport and Holt, 3rd February. in Advance): Subscriptions (Payable VOU RIVEK PLATE AND PACIFIC Brazil, 10080ÍX) per annum. Mail, 14th November. Abroad, £5 per annum. ANDES, Royal State Line, 13-14 November. copio* 25f.000. suprVIierl to subscribers only. PORTO, Portuguese Separate Reunis, 14th November. Back Numbers 2$500 per còpy. SAMARA, Chargeurs Transportes Maritimes, 17th November. AGENTS: VALDIV1A, MASSILIA, Chargeurs Reunis, 18th November. Rio de Janeiro— NAPOLI, Italia-America, 20th November. Crashley & Co., Rua do Ouvidor, 58. DESNA, Royal Mail, 21st November.' «ao Pfinlo— TOMASO DI SAVOIA, Loyd Sabaudo, 21 st November. Rushworth, The Anglo-Amerlcan Club, J. AMERICAN LEGION, Munson Line, 22ud November. Rua 15 de Novembro. 26-28. INDIANA, Italia-America, 29th November. Santos— l«t December. 313. BRABANTIA, Royal Holiand Lloyd, Laercio Azevedo, Praça da Republica 86, Caixa Postal VESTRIS, Lamport and Holt, 4th December. London— SOUTHERN GROSS, Munson Line, 6th December. C. Street & Co.. Ltd., 30 Cornhlll. E.C. AEOLUS, Munson Line, 22nd December. Austrália— VASARI, Lamport and Holt, 27th December. 14 and 16 Market Street, Melbourne, Dínsdale & Osborne, ZEELANDIA, Royal Holland Lloyd, 29th December. and Perth. Also at Sydney, Adelaide HURON, Munson Line, 5th January. _ VAUBAN, Lamport and Holt, 15th January. or Notice—The Editor is not responsible for Correspondence initials, or with a Articles signed with the writer's name or <'Communieated.'• mus are marked The Editor MARRIAGE. pseudonyn,, orthat views Alesander Lochhead be held in agreement with the Lochhead-CriffithsOn November 9, 1921, likewise not necessarily daughter of mode of expression. of Scotland and Rio to Jane Lloyd Griffiths, therein contained or with the de Captain and Mrs. Williams Lloyd Griffiths, of Rio Janeiro. The civil and the British Consulate ceremonies ceremony were performed on Tuesday, 8 Nov. The religious "IRACEMA' Christ Church, was performed by Archdeacon Hancock at Rio at 2.30 p.m. 9 November. (A Legend of Ceará) BY JOSÉ DE ALENCAR , TRANSLATED INTO ENGLISH es tablishments: NOTES Can now be obtained at the following Rio de Janeiro. CRASHLEY A Co., Rua Ouvidor 58, DECREES. 61, Rio de Janeiro. IMPRENSA INGLEZA, Rua Camerino Rio de Janeir0; MOURA, Rua Assemblea, 79, 1921, opens a crédit of £476,000 CASA 157. Decree 15,077 of 28 October, ODEON, Avenida Rio Branco 137 and du Port de Per- LIVRARIA for payment to the Société de Construction PRICE: 4$000. nambuco.. of «* Decree 15,074 of 28 October, 1921, authorises the signmg Ltd., contract with the Anglo-Brazilian Iron and Steel Syndicate, the Republiç), for the or- (previously authorised to operate in MAIL FIXTURES in Brazil—without any ganiF. .tion, construction and exploration for the extraction of tne \ FOR EUROPE privilegé-of one or more foundries November. manufacture of iron and steel. GELRIA, Royal Holland Lloyd, Amstèrdam, 12th mineral from the ore, pig November. of 3 November, 1921, opens a supplementary DUCA D'A0STA, Italia-America, Genoa, 15th Decree 15.089 contos for of accounts of different ARAGUAYA, Royal Mail, 16th November. crédit of 2,000 payment Nov. during years. BELLE ISLE, Chargeurs Reunis, Havre, 19th Ministries contracted previous 24th November LIMBURGIA, Royal Holland Lloyd, Amstèrdam, DESEADO, Royll Mail, 26th November. Mail, 30th November. the __-NDES, Roval Fletcher, Malcolm. We profoundly regret to announce Hamburg, 30th November. OUYABA, Lloyd Brasileiro,- Fletcher, the manager of the Lam- 6 Dec. death of Mr. Malcolm popular RE VITTORIO, Italia-America^ Genoa, city. Mr. Fletcher died at the port A Holt Line Agency in this NAPOLI, Italia-America. Genoa, 8th Dec. Rua Gavião Peixoto^ 284 age of 50 years, at his residence, Royal Mail, lOth December. at the British DESNA, Nietheroy, on Monday, 7 Nov, and was buried AVON, Royal Mail, 14th December. The late Mr. Fletcher 15th Dec. Cemetarv on the afternoon of the Sth inst. Royal Holland Lloyd, Amstèrdam, Co., then agents BRABAN1IA, carne to Rio to join Messrs. Norton, Megaw A Royal Mail, 21st December. He became DEMERARA, for the Lamport & Holt Line, about 27 years ago. Royal Mail, 28th December. of the ARLANZA, manager of tbe shipping section in 1920 and also President Royal Mail, llth January. "Centro and contmued m the ALMANZORA, Jan. de Navegação Transatlântica," Royal Holland Lloyd, Amstèrdam, 12th company opened ZEELANDIA, service of Lamport & Holt, Ltd, when that Royal Mail, 18th January. Fletcher's death DARRO, their own offices in this city in April last. Mr. FOR THE . will be regretted by a wide circle of friends. VASARI, Lamport and Holt, 12th November. AEOLUS, Munson Line, 15th November. AVARE, Lloyd Brasileiro, 25th November. ! November 9fch, 1921. 1Í82 WILEMAN'S BHAZMÍÍAN KWIKW.

(CAPITAL £ 1,500.000, CARDIFF. "ANCHOR" Manufacturers ot the PATENT FUEL. STEAM COAL. Sole Selling Agents of «NAVAL MERTHYR" SMOKELESS (on British Admiralty List). and "GWAUN-CAE-GURWEN" ANTHRAOITE. CARDIFF. HEAD OFFCE, Cambrian Buildings. LONDON. 3. GUÉRET, GAIT & CO., LTD., 34. Lime Street, E. C. PARIS. 85, Boulevard Haussmann. GÉNÉRALE DE HOÜILLES ET ACCLOMÉRÉS, SOCIÉTÉ GENOA. Via Ponte Reasf. LA SOCIETA BRITANNICO-ITALIANA CUÉRET, 2, NEW YORK. CUÉRET, JACKS & PARTNERS, INC., 52, Broadway. SEATTLE. ü. S. A. Building CUÉRET, JACKS & PARTNERS ING: Rainier RIO DE JANEIRO. 51-55, Avenida Rio Branco. GUÉRETS ANGLO-BRAZILIAN GOALING CO., LTD., RIO GRANDE DO SUL. 6. Riachuelo. GUÉRETS ANCLO-BRAZILIAN COALINC CO., LTD., Rua MONTE VÍDEO. Calle Cerrito. GUÉRETS ANCLO-URUCUAYAN COAL CO., LTD., 307, BUENOS AIRES. Bartolomé Mitre. THE ANCLO-ARCENTINE COAL CO., LTD., 427, Calle SANTA FÉ., THE ANCLO-ARCENTINE COAL CO., LTD., 83, Avenida Rivadavia. GUÉRETS ANGLO-BRAZILIAN COALING CO., LTD. BUNKERING CONTRACTORS and STEAMSH1P AGENTS. 51-55, Avenida Rio Branco. Telephone, 3023 Norte. RIO OFFICE. "Guérets". Post Office Box 1193. Telegrams, ISLAND DEPÔT. Ilha de Mocanguê Grande. Telephone, ViUa. SHORE DEPÔT. 759, Rua Sao Christovão. 195 November 9th, 1921. WtLfiMANH BRAZILIAN REVIEW rgrr-TST^!vyffni-'l-L"ll'ia^'',g^"^j^a'»™11»n" THE ROYAL BANK OF CANADA

Head Office MONTREAL, CANADA Authorized Capital $ 25,000,000.00 Paid up Capital $ 20,354,100.00 Reserve Fund $ 20,244,055.00 . 730 BRANCHES IN ALL IMPORTANT WORLD CENTRES - SÃO PAULO - RIO DE JANEIRO SANTOS

aU the material and workmanship is entirely .The Situation. As anticipated, the return of the Opposition down from Canada, The reconstruction of the building was carried out candidate for the Presidency has given rise to further political Brazilian. direction of Mr. Ravino Rocha and the handsome with the usual street demonstrations, ttc. This has under the upheaval, by Marcenaria Auler. The vaults are effect on aU important markets, caiving in the interior is naturally had a weakening Üghting, ventilation «• to be expected in noticeable for their roominess, making them somewhat nervy. Exchange, as as particularly approxi- out- and security, the weight of one set of doors alone being these circums-bmces, has fallen, and not until the political improvement in rates he lasting. mately four tons.. . look becomes clearer can any have a reputation, is being in the ordinary course ot Enterprise, for which Canadians There are several strong factors which, Américas. With but unsettled. rewarded the length and breadth of the two things, would have meant an improvement in rates, of the many up-to-date and efficient banking methods, such as those internai affairs make operators shy and kill in the bud Canadian Bank of Commerce, the trade of the Dominion should features. promising considerable éxpansion. We congratulate the Bank on its that at the very time when the show It is regrettable, we repeat, that its relations with Brazil will the country, and theretore sumptuous premises and trust economic and financial situation of of this Continent. should bave be as brilliant as those with other countries exchange, had taken a turn for the better, politics shown herself above bli-hted everything. Brazil his hitherto hoped that the pre- strife, and it, is to be held on 2 Nov. petty-fogging political any Local Sinn Feiners advertised a mass to be deadlock will be amicably settled before matters get ki»ed in sent in this city for intercession on behalf of Sinn Feiners administration is more than ever worse. Wise and peaceful agree with the necessity in most cases. and we put our trust Ireland. We quite nécessary for the prosperity of this country of a large laurel wreath for should The obverse of the medal is the laying in the Government to curh political pissions, inscription which present will be in- on the Cenotaph in Whitehall, Êondon, with ,an demonstrations be repeated, foreign' opinion recent ran:—•_ with its inevitable bad effect on exchange. "Sacred non-commissione* fluenced is still to the memory of 586 officers, With regard to business conditions, the situation latest officers, and men of his Majesty's Army, Navy, and Police Force» Failures continue to crop up, with the have somewhat obscure. *e who, having fought for King and country in the Great War, firm interested in Campos sugar; addition reported to be a murdered by the King's enemies in Ireland." them over their difficulty. since been foully think, however, the banks will tide any further mass, it would be as full" time and. Should occasion arise for "os cotton mills are now working tt The S Paulo m well for Sinn Feiners to u?e their propor name, and not orders. The great improvement many receiving a good supply of Irlandezes"—a term deliberately misleading. There are trade is the result of low e*change uot the natLal cotton goods lhe Irishmen resident here—some of whom are Catholics—who of imported goods almost prohibitive but objecfc which makes the price to only abhor Sinn Feiners and their murderous work, obliged to order national goods drv -oods trade, therefòre, is they would attend such a service. in the mtenor seems to an insinuation that avoid" losses in exchange. The small trade,- and judging by the to have passed the worst period of depression meeting their obligations, money promptness with which they are Foreign Trade of Brazil With Principal Countries during the the interior, cf S. Paulo. Seems to be fairly olentiful in particularly the current and last years was as follows:— of coffee «.^«™^S first seven months of The so-called" permanent defence in Congress, but whether it will scheme is still under discussion Value in £1,000. it will see light, ,s *-»* „£__ law. cr in what shape or form -- 1921 1920 there is a long — to say. Judging by the political atmosphere + or ²+ or and boisterous voyage before it. Impts. Expts. Expts. Impts.Expts.Expts. —6,229 ü K ".'.'.'.'.' 8 476 2,247 14,1966,630—7,566 TJ.' 14.342 11,526 -2,816 23,21632177+Mg of Commerce will open its Rio Branch States" The Canadian Bank 3,122 186 2,7939,952+7,159 under the manage- France 2,936 + inst., at 63-67 Avenida Rio Branco, - 423 1,5»2,276+ 733 on 14th were tor- Germly 3 604 3,181 E. B. Ireland. These premises, which -1,226 ment of Mr. E Belgium 2,055 829 7401,817+1,077 by the Brazilian Warrant Co., a_id Messrs. mêrly occupied meet tne Italy . .. 1,355 1,612 + 257 1,6306,049+4,419 Co., have been entirely reconstructed to -2,092 Johnston & Argentina .... 4,075 1,983 9,4234,484-4,939 Bank and the upper stories have a complete requirements of the 773 610 - 163 1,4861,142- 344 the use of renters. The fittings, of Portugal service of elevators, etc, for ^ " ""* ¦¦¦-¦¦- and it is noteworthy that tho bankirg offices are ali of jaoaranda 25,110-12,506 55,027 64,527 +9,500 which were brought Total 37,616 with the exception of the doors for the vaults, »£*'.

1784 WILEMAN'S BRAZILIAN REVIEW. November 9th, 1921.

The Booth Steamsliip Co., Ltd i

LIVERPOOI i

Regular and frequent service of high class steamers to and from New York, mid and south Brazil Ports.

Funch, Edye & Co., Inc., LiiÉg Agents in United Slata- 8-10, Bridge St.. New York. AGENTS IN BRAZIL,.

BAHIA Wilson, Sons & Co., Ltd. SÃO FRANCISCO ) R. 0'N. Addison Arbuckle & Co. DO SUL\ VICTORIA (^ub-Agems) Guilherme (Sub-Agents) FLORIANÓPOLIS H. Chaplin RIO DE Wilson, Sons & Co., Ltd. (Sub-Agent) JANEIRO ' SANTOSWilson, RIO GRANDE 1 Sons & Co., Ltd. Wilson> ^ons& Co., Ltd. Empreza de Melhoramen- DO SULí PARANAGUÁ I tos Urbanos de Para- PELOTASWilson Sons & Co., Ltd. nagua. (Sub-Agents) PORTO ALEGRE Wilson, Sons & Co., Ltd.

OSAKA SHOSEN KAISHA IJMITED-OSaKA MERÇANTILE S.S. CO. LTD. OSAKA, JAPAN. . REGULAR SERVIGE TO NEW ORLEANS, GALVESTON AND JAPAN, VIA PANAMÁ CANAL, ACCEPTING THROUGH Y ;o ro líNít >ID TOWNS OF UNITED STATES INCLUDING GULF PORTS c HST AND THIRD CLASS ACCOMIMODATION Future Sailings from Rio de Janeiro:— MÉXICO MARU—16th February, 1922. PANAMÁ MARU—27th November CHICAGO MARU—18th March, 1922. SEATTLE MARU—14th January, 1922 CANADA MARU—17th April, 1922. FOR NEW ORLEANS AND JAPAN, VIA PANAMÁ CANAL. WILSON, SONS «CO, LIMITEO. Avenida Rio Bratico, No. 3^\ JRIO OH: JANEIRO.

¦ i* "Itmã&f Í9&J I—M—I BOOTH LINE, Royal Mail Lme of Steamers to the Northern Ports of Brazil and Iquitos (Peru) REGULAR AND FAST SERVICE OF STEAMERS BETWEEN Liverpool, Havre, Cherbourg. Vigo, Oporto (Leixões) and Lisbon (calling ai Madeira), and Pará, Manáos, Maranhão, Parnahyba ano v^eara. ALSO BETWEEN New York and Pará, Manáos, Maranhão Ceará, Natal, Cabedello, Pernambuco and Maceió, (calling at Barbados), oania,Bahia Rio de Janeiro, Santos, & Rio Grande do Sul.«««««si, Agents:* Booth & Co. (London) Ltd., Pará. Booth & Co. Booth & (London) Ltd., Parnahyba. Co. (London) Ltd., Manáos. Booth & Co. Ltd., Ceará. Booth & Co. , ---¦!.»-.«.».«v.Ltd., Booth (London) (London) Maranhão. & Co. (London) Ltd., Iquitos (Perúh Ju,,u0s Sohsten & Co., Natal, Cabedello, Recife and Maceió Wilson Sonsc & y?nCo., Ltd., Bahia, Rio de'janeiro, Santos and Rio Grande do Sul. ¦ ¦¦'•>;wjWWH Npyèmber 9th, 1921. WILBMAN'8 BHAZILJAN RJBVIBW 1785 THE CANADIAN BANK OF COMMERCE 1

(ESTABLISHED 186^) HEAD OFFICE:TORONTO, CANADA PAID UP CAPITAL $15.000.000.00 RESERVES$15.000.000.00 AVENIDA RIO BRANCO, 63-65-67. = RIO DE JANEIRO.

THIS BRANCH WILL OPEN FOR BUSINESS ON MONDAY, 14th. NOVEMBER, 1921. The building of the Bank will be open to the publie during" the llth and 12th November, from 10 A. M. to 3 P. M.

THE CANADIAN BANK 0F COMMERCE IS REPRESENTED IN ALL THE PRINCIPAL CITIES 0F AMERICA AND EUROPE EITHER BY ONE 0F ITS 536 BRANCHES 03 BY CORRESPONDENTS. ALL KINDS OF BANKING BUSINESS TRANSACTED.

Increase or Decrease, 7 months, 1921on 1920:— Compared with the same period last year, exports from Brazil to the above countries show a shrinkage of £39,417,000- Value in £1,000. or 61.1 per cent and imports of £17,411,000 or 31.6 per cent. —Imports— Inc. or—Exports—Inc. or The total falling off in exports was accounted for by shrinkage of £4,383,000 or 66.1 per cent to the U.K.; £20,651,000 or 64.2 1921 1920 Dec19211920Dec. per cent to the U.S.; £6,830,000 or 68.6 per cent to France; U., Kingdom . 8,4*6 14,196 —5,7202,2476,630— 4,333 £988,000 or 54.4 per cent to Belgium • £4,437,000 or 73.4 per cent TJ. 14,342 23,216 —8,87411,52632,177—20,651 States to Italy, £2,501,000 or 55.8 per cent to Argentina, and £532,000 France 2,936 2,793 + 1433,1229,952—6,830 or 46,6 per rent to Portugal; but increase of £905,000 or 39.8 per Germany 3,604 1,543 +2,0613,1812.276+ 905 cent to Germany. .Belgium 2,055 740 +1,315-8291,817— 988 1,630 — 2751,6126,049—4,437 Italy 1,355 In imports, three countries show increase, viz: France, Argentina ... 4,075 9,423 —5,3481,9834,484—2,501 £143,000 or 5.1 per cent; Germany, £2,061,000 or 133.6 per cent; .'Portugal: 773 1,486 — 7H36101,142— 532 anel Belgium £1,315,000 or 177.7 per cent, whilst those from the other live countries show shrinkage, viz: from the United King- Total 37,616, 55,027 —17,4H25,11064,527—39,417 dom £5,720,000 or 40.3 per cent; from the United States, £8,874,000 or 38.2 per cent; from Italy £275,000 or 16.9 per cent; first months of the current the ! During the seven year, from Argentina, £5,348,000 or 56.S cent and from Portugal aggre- per balance of trade was £12,506,000 or 49.8 per cent in the £713,000 or 48.0 cent. as per !&'gate of the above eight countries against exports from Brazil, «against a favourable balance of £9,500,000 or 14.7 per cent for the 'same Tho enormous falling off in exports to Italy was the result period last year. With the exception of France and Italy, chiefly of the shrinkage in coffee, ltalian •to which countries Brazil exported £186,000 or 6.0 por ceib and shipments of owing to Government or 15.9 cent respectively more than she importei! restrictions and control of that commodity, and of J£257,O0O per meat, owing ífrom them during the first seven months of the current year, to the rmderpest in S. Paulo and consequent pro- hibition of imports meat by country, •aU show a balance'against Brazilian exports, of which tlie United of Brazilian frozen that and ¦Kingdom likewise by Franco, U.K., and Belgium. £6,229,000 or 2?.7 per cent, the United States £2,ol6.000 or -24.4 per cent, Germany £423,000 or 13.3 per cent, Belgium £1,226,000 or 147.9 per cent, Argentino £2,092,000 or Y05.5 per cent, and Portugal £163,000 or 26.7 per cent. For the same period last year, the balance was in favour of Brazilian exports Foreign Trade of the United Kingdom in september. ftTis to ali but three countries, these being the United K;ugdom, gratifying to note that the September returns of the foreign trade £7,566,000 114.1 cent; Argentino, or 110.1 "gdom 'improvement or per £4,939,000 "United per of the United Ki show an on the previous 30.1 cent. The States cent and Portugal £344,000 or per month. Exports for that month show an increase of £4,000,000, importei! last or 27.9 cent more than they year £8,961,000 per whilst imports, except for July, are the lowest of the year. The cent; oxported to this country; France £7,159,000 or 71.9 per adverse balance of foreign trade, in. consequence, was lower than 59.3 Germany, £733,000 or 32.2 per cent; Belgium, £1,077,000 or for 1iio previous three months, but higher than that for the first per cent; and Italy, £4,419,000 or 73.1 per cent. quarter of the year. The values for September and the nine 1786 WILEMAN'S BRAZILIAN REVIEW. November 9th, 1921,

ROTTERDAM - ZÜID AMERIKA LIJN W1LHELM8EN UNE (JOINT SERVICE Of (Head Office VAN N1EVELT GOUDRIAAN & Co's STOOMVAART MAATSCHAPPIJ and Christiania Norway). HOLLAND AMERIKA LIJN) REGULAR SERVICE OF STEAMERS BETWEEN RECULAR SERVICE OF STEAMERS BETWEEN BRAZIL, EOTTEEDAM à HAMBUEG. KWA25IJU and I.EW YOKK

Fop freights & further information apply to the Agents E. JOHNSTON &. CO., LIMITED. K,° -AVENIDA ros.-RUA RIO BRANCO, SAN FREI GASPAR, 24 «B. ' ' m* HOULDER BROTHERS & CO., LTD. Head Office — LONDON STEAMSHIP AGENTS Steamers regularly loaded on the berth for LONDON, LIVERPOOL, HAMBURG, ANTWERP, ROTTERDAM, SPANISH, ATLANTIC, PORTS, NEW YORK, NEW ORLEANS, SAN FRANCISCO, (CAL) ETC. THE CARRIAGE OF REFRIGERATED PRODUCE A SPECIALITY

J.**;>:_> ¦¦ CHARTERS NEGOTIATED

RUA DA QUITANDA 149, Rio de Janeiro. — RUA SANTO ANTÔNIO 35, Santos P.O. BOX 1383AND ATP. 0. BOX 388 BUENOS AIRES, MONTEVIDEO, ROSÁRIO, BAHIA BLANCA.

CONTINENTAL PRODUCTS COMPANY BEEF AND PORK PACKERS São Panlo—Brazil

BONÉS HORNS CASINGSFERTILIZERS * PORK PRODUCTS HIDESTALLOW ÓLEO STOCK CANNED MEATS LARD EXPORTERS OF ALL PRODUCTS OF A MODERN PACKING HOUSE REPRESENTED IN PRACTICALLY ALL IMPORTANT FOREIGN. CITIES WILSON & CO—CHICAGO, ILL., U. S. A.

Wilson & Co. Wilson Commission Co. Archer & Co. Wilson Commission Co. . / Via XX Settembre n. 42, 58, West Smithfield P. O. Box 356. Genoa—Italy. London—England. Rotterdam—Holland. Products Wilson British American Co. Commission Co, Wilson & Co. Wilson & Co. Victoria Wharf 51. Rue Jean Jacques Rousseju 15, Temple ' Street New Hibernia Chambers. . Btrkenhead—England, Parts—France. Liverpool—England. London—England.. r Nçvèínber 9th, 1921. WILEMAN S BRAZILIAN REVIEW 1787

months ending 30 Sept., compared with tho corrèsponding period Brazil) have compiled the following, which we reproduce with last year, iare as follows:— corrections. The statistics of mills, looms, etc, are for the first Month of September. half of 1921 and capital and production the annual average for 19201921 Inc. or Dec. in1921 the last two calendar years. £ % Imports 152,757,13687,118,507 — 65,638,62942.9 73 British exports . 117,455,91355,267,578 — 62,208,33553.0 -P, Cg Cg CO 00 © o <© oo ©v«5 co co o ov «¦* ;¦ RCO „1IJ ÇO.S TO tO © OO OI •* i—1 CO (N N CTCC Re-exports 13,350,6088,594,644 — 4,755,96435.6 M «-. Total exports .. 130,806,52163,842,222 —66,964,29951.2 so Excess of importa . over total ¦ 21,950,615 23,276,285 IV O © O O: y O o o ò © © . © •''"o exports + 1,325,6706.0 «OOOOOOoOCOQOOOoOoo© ©' ©' o © © O^ <3 P3 O O N o © H 00 CO TO W io O N r((© Nine Months ended September 30th. jj " ft ^ CC H Cs" rf grj" yj OT of '-' CC~00 19201921 Inc. or Dec. in1921 r~* r-i H ¦<>¦O 5T__ r-! £ % Imports 1,501,412,239827,678,470—673,733,76944.6 W SSOQ©^©©©1-^©©©©©©^©CO exports —488,616,72548.5 oPoCogOQNTOffltpooOoOc British . 1,007,278,036518,661,311 O >> O^ !D o^ N CQ OD "^ OT HH Q O ^-, H ‹OJ Re-exports 180,458,48277,639,668 —102,818,81457.0 -5 rH CC cc" Of IO OT CO ¦*# r-ícr* rH • i-!ío Total exports . 1,187,736,518 596,300,979 —591,435,53948.6

ao ' ° o o o o o Excess of imports Ü-2:=2©©©©0©o©©o©©©oc:o© ?S ^ 2 o go 2 o Tet© O* © CO © © -Oi r-i ‹có over total exports 231,377,491 — 82,298,230 26-3 §©©©©©©:©©'- O 313,675,721 O 52 O ^ H O O O H rjí (M |0 1> o LO N CdrH ftHJ r|* OI H !M 00 OT H © (M 00 H >Q53 In spite of adverse influences, £82,000,000 of the adverse . -f r-i r-i A© balance of trade was knocked off during the first nine months of the current year. Owing to greater falling off in exports in -£©0'©©©©©©0©©©C©©©0o

September as compared with the same month last year, the ad- íhS22oo©o©©©©©ooS©©© ¦*•¦' 'VP©©0©©©0©©©©©©©©©0 © í verse balance was £1,325,670 or 6 cent higher. ©&¦ es- se- 6©- €©¦ se- so- ee- se- es- se es- se es- se ee ee-ee per g¦¦ o. © © © ©, o. o © o .©; ©, © © o Q ..© ‹o So great have been the alterations in currency prices during q.|-^©©©©©©oo^©©©©oc^o© © © © .© © © q o o © © © © © © © R©o recent years, says the "Statist," th&t comparison of values alone 0©>©©©©©OQQ©©©OoÇ_©©o M © O'© O O © o © © © © © © ¦© O O 2O provides little indication of the changes in the externai trade S © © O © © © O OJ CC © O] TjH © o © © R© rS CO OÍ OT OI r-5 r-5 r-i r-i O? * rH r-i r-i r-i ©' -tCO Oi' oi of the United Kingdom. Some idea of the great alterations as rH CC © iH Oi OI O. rH1 M^ compared with last year and 1913 may be obtained from the following tabulated statement of the physical volume of the commodities imported exported by the U.K.:— principal and .2©©©©©©©©©©, ©O©©©©©c y©©©©00©©©©©0©0©©©tí©Q©©QO©©©©©©©©©©©©© vw ffi ctx cr\. (*r\. cd. cc* cr\, ccl. cc cr\. c/x jw erv c/x c/x /____. c/xc/x Nine Months (000's omitted.) >w©©©©©©©©©©©©©©©©© * V/iT OIT \Jir triJ t7_T tr?- t7^ t^r tTO* tn?* t7^ VP" \Jír &$• tf#* t^T Ç^T\fmT© ;a©oooQ©©o©©oo©©o©©© Exports:— 1913 19201921 .3©©©©©©oo©©©©©o©o©© © © O © © © © © © o © © Coal, tons 54,518 19,85213,352 -+a © o. © © O © © © © © o © © © 88 O ¦5 io © r-i © © O © © oi © o o © © 10 t>- Pottery, china, porcelain, cwt. 3,066 2,9072,013 ^ N Hj CO ©' rH © ÓO OT rH CC OI rH 00 © t> OI X 01 01 cc OT Iron, steel and manufs, tons. 3,751 2,5511,146 OT Cotton yarn, lbs 154,761 118,44890,593 •*Cotton piece goods, sq yd. 5,350,278 3,540,6771,866,341 *Woollen •—i©l-©-^01©©r-i CO H ri -V OT IO. CO 00 OI tissues, sq. yds.... 81,997 151,72259,450 U H +r—ir-1. © OI »o *Worsted OJ o tissues, sq. yds.... 47,705 62,70728,535 *Linen, sq. yds 142,307 81,82724,721 Importa:— Grain and flour, cwt 163,796 136,360127,357 Meat (exclud. poultry), cwt. 17,709 18,56921,293 o Butter and cheese, cwt 4,893 -p -p c 3,489'5,040 cá Pr f-H -p Spirits, pr. gals 5,186 6,3444,524 O OD OQ Sugar, cwt 28,807 20,79720,646 -P o O 0 Tea, lbs. ....'. 230,758 O 325,340307,899 -P -P a • ih v~ Tobacco, lbs 72,025 103,549104,796 cá © ffl' CO T! cá -P Raw cotton, lbs 12,239 14,7237,381 0) o CP 05 a 1-5 cá -p C3 cá -p c3 cc ft Rubber, lbs 1,170 1,8171,561 03 $ a Jc _5 O! cá O 3q O si cá C3 .1-1 Iron, steel and manufs, H cá •+f bJD Ü tons 1,618 7021,187 c3 T3 o c -p cá .a *tj•" - —i¦—— C3w^ u,' O)\_/ CC-r_ 1 1 ¦ t Cuwu CÍ—j Q)v**' »i-k• 1—( n? _ . r^ m c Cotton yarns, lbs 8,187 2,2622,144 ^MOfeSÍSSfc.pLipLiPkPâPSPÍ-cD.cQ.tij Silk, manuf., lbs 60,027 47,15537J217 *1913 in yds. • The Federal District, with 14 mills, 411,000 spindles, 13,000 two The falling off in the quantity exported is most impressive, looms and 19,000 hands produced on an average for the last of S. Paulo with 55 mills, coal alone showing a decrease of 41,166,000 tons or75.5 per cent years 10,000 contos more than tho State as compared with 1913. This, of course, was largely due to the 415,900 spindles, 14,700 looms and 25,000 hands; and 11,000 130,000 coal miners' strike, and it is to be presumed thatnow the rtoal contos more than the State of Minas Geraes_with 60 mills, trade is getting back to normal, an improvementin exports is spindles, 5,800 looms and 18,000 hands. to be looked for. As a matter of fact, exports ofcoal m ü^pt. r The discrepancy is no doubt explained by the greater capacity show ,a considerable increase over the previous month, the total of the Rio mills and pajrhaps by better labour, seeing that nearly amounting to 3.406,579 tons, as against 1,475,623 tons in Sept., ali skilled hands and some of the management are Lan- 1920 and 6,197,180 tons'in 1913. * cashire experts. The States of S. Paulo and Minas Geraes count numerous small mills with limited output. while the Rio mills are. in the majortiy, of great size. Cotton Spinning and Weaving Industries of Brazil. At last reliable statistics of cotton mills and their production are avail- According to the International Federation of Master Cotton "Centro able. The Industrial de Fiação e Tecelagem de Al- Spinners and Manufacturers Association of Manchester, the godão' (The Spinning and Weaving Industrial Association of wo-rhPs spindles ou 1 August last were as follows:

y''***:- 1788 WILEMAN'8 BRAZILIAN REVIEW November 9th, 1921.

:i*r Consolidated Construction Company, Ltd. Amalgamating the Construction Departments of DICK, KERR & CO., LTD. and J. G- WHITE & CO., LTD r Telegrams "Solconstru 9*Cloak Lane, Cannon Street, Cannon London" London, E.C.4. 46 - Avenida f^io Branco - Rio de Janeiro

UNDERTAKES CONSTRUCTION CONTRACTS OF ANY MAGNITUDE OR DESCRIPTION IN THE UNITED KINGDOM OR ABROAD.

Agents in Argentina, Austrália, Brazil, Ghina, Eouatior, Mexíoo, New Zealand, United States, Uruguay, Venezuela, Ao. At. Also Connections In ali Countries.

Contracts executed by the, constituent Companies exceed £20.000,000

WILSON, SONS & CO., LIMITED.

AGENTS FOR THE FOLLOWING

Edgar Allen & Co., Ltd. Marshall, Sons & Co., Ltd. Specialists in Steel. Boilers, Waggons etc: Crossley Brothers Ltd. Wm, Mckrnnon & Co., Ltd. Gas & Oil Engines. Sugar & Rice Milling Machinery. The Saunderson Tractor & Ltd. Çommerciai Cars Implement Co., Ltd. Motor Lorries & Omnibuses, "COMMER" Tractors, Ploughs etc. W. B. Dick & Co., Ltd. Massey-Harris "ILO" Co., Ttd. Lubriciting Oi's Brand. Agricultura! Machinery, Major & Co., Ltd. Hawkins & Tipsõíi Ltd. Solignum. Wood preservativo. Manilla & Steel Ropes & Cords.

CENERAL IMPORTERS of machinery for ali purposes. Specialists In Steam, Oil and Cas Engines for Sugar, Rice, and Co'fee Milling Machinery. Tractors and ali Agrlcultural Impüements. Railway Material, Motor Lorries and ali machinery for Workshops, Factories, Mills, etc, etc.

¦D- 37, AVENIDA RIO BRANCO, 37 RIO DE JANEIRO Telephones: Norte 1309 & 1310«&Telegrams: Anglicus-Kio November 9th, 1921. WILEMAN8 BRAZILIAN REVIEW 17S9

were Europe.—United Kingdom 56,140,738, France 9,600,000, Ger- the business a^d maritime world of the United States, who American recognition, to many 9,400.000, Russia (1 Feb, 1921) 7,100,000, Italy 4,506.294, proud, as we Britishers are proud of the man recently Spain 1,805,785, Belgium 1,548,001, Switzerland 1,530,790, Poland testify to their appreciation of the worth of the world's 1,161,177, Áustria 1,140,000. Holland 630,160, Sweden 609,985, honoured with a baronetcy for his services, not only to the Portugal 400,000, Finland 239,804, Denmark 95,644, Norway commerce but to humanity. in shipbuilding world, for it 67,024 . Tcheco-Slovakia 3,582.772; total Europe, 99,558,174. Tsherwood is a name famous the Ásia.—índia 6 763,076, Japan 4,126,504, China 1,800,000, was Sir Joseph who invented the system that is to-day adopted total Ásia, 12,689.580. by the most important of the world's in their fulfilment this man, America.—United States 36,478,000, Canada 1,100,000, of ali important contraets. In a little over a decade of his México 720,000, Brazil 1,521,000; trtal Amerioa 39 819,300. whose insistrant research and experfc knowledge profession have adhered Egypt, and Turkey 250,000. Total world, 152,317,054. had been violently combatted by those who would to the time honoured method of shipwrighting. saw the gradual shipyards As customary, ali the figures contained in these statisties adoptiou of his ideas, and to-day some 150 great that are based on replies to from each mill jndividually. The throughout the civilised world are building ships from plans questions fitting Lh\t, figures for consumption and stocks are obtained by adding the heir the imprint of the Isherwood system. It is two figures furnished and taking the minimum of those mills which with the ever-íhereasing closer relationship between the great States and Great Britain did not reply. It should he borne in mind that the figures for Engli«h speaking nations, the United others for should divide honours with an almost equal number of shipvards the present year are for six months only, whereas are "Isherwood the whole 12 months. The spindles mentioned in this report turriihg out shíns". Fifty-six yards on the Atlantic Lakes of the Western are for cotton spinning only and do not include those engaged in and Pacific coasts, the Gulf and Great other work. Hemisphere, have now .adopted the Isherwood standards. In view of the world-wide crisis in the textile trade, an Joseph William Isherwood was born at Hartlepool. England, in 1870, the same that the famous "Great Eastern," laviathan additional question was asked as to how many hours the spindles year whose essayed to break were runniug and how many hours stopped, and from the replies ot her day and the first vessel builders «away, method of the following information is obtained:— to some extent, from the old transverse-beam her brief career—the United Kingdom.—Of total spindles in existence, 49,740,631 construction, did the one successful job of was during his connec- replied te the of the International Federation of Master laying of the Bombay to Suez cable. It questions able t>olve Cotton Spinners and Manufacturers' Associàtion, of which Mr. tion with Lloyd's Register that Mr. Isherwood was to his and so it was that in 1906, he was able i o give the Arno Pearse is general secretary. problem marítimo world. According to the information supplied, 41,874,876 spindles Isherwood system of ship construction to the 12,000.000 were idle 736.79 hours during the first half of the current year. Up to 31 Dec, 1920, 1.400 verseis representing about which If lost time is calculated on the basis of 49,740.631 spindles, the tons d.w. carrying capacity, built and under construction, d tons, time these were idle was 620.27 hours, or in other words, nearly 646 are bulk oil carriers, representing about 6,200.000 d.w. were ali built on the Isherwood system. On the total output of the whole industry was paralysed during nearly 13 weeks of 48 saved 250,u00 tois of hours. The number of spindles in the United Kingdom on 1 Aug. 12,000,000 tons, the Isherwood system has its manufacture last show a falling off of nearly 2,000,000. fíni"hed steel, which would have required for has in- France.—According to the Syndicat General de 1'Industrie 1,250.000 tons of raw material. The Isherwood system capacity of the vessels built Cotonniere Française, there were on 1 August last, 9,600,000 creased the deadweight oarrying capacity rnder spindles in France, including 782,566 spindles damaged during under it, as against what would have been their old by 300,000 tons, which the war and not yet repaired. During the six months under re- the transversal svstem, approximately busiest ship- view, 3,818,760 spindles were idle during 588.41 hours, equivalent in itself almost equals the output for any one of the of his ser- to 7 weeks of 48 hours on the basis of total spindles working. building yards in Great Britain alone. In recognition vices to naval .architecture and the increàsed efficiency of Great Germany possesses 9,400,000 spindles, of which 8,693,221 Britain's merchant marine, Mr. Isherwood was created a Baronet furnished returns; 1,857,150 were stopped 1,230 hours during the by H.M. King George V in June last. half-year or a total of 5.48 weeks of 48 hours. As regards Russia, aceurate information could not be obtained. Italy possesses 4,506,294 spindles, of which 3,550,095 furnished returns, of which 1,557,378 were stopped 340.28 hours, which re- a suspension of 3.11 weeks for the 3,550,095 spmdles. presents British "Control" of Hungary. "Le Vie Financiere" (Paris, The United States Bureau did of Statisties at Washington 27 Sept.) a lengthy list of Hungarian industries in which not answer the in requested. m gives questions the" form Consumption foreign capital has recently been embarked as a result of the that country during the half slightly i han ihat year was greater krone's dépreciation. , and another of its and it is the predecessor, presumed, therefòre, that running British firm, in alliance with Cox and Co. and Hambro's Bank, hours were greater. have acquired 51 per cent of the shares in a Hungarian shipping lack of rapid Brazil.—The enormous área of this country and company, Ungarische Fluss and Seeschiffahrts A.G., when latter make it impossible the statisties from Communications to gather doubled its capital. The same companies have also founded the each mill. However, "Centro Industrial de Fiação separate the Danube Navigation Co., with capital of £1,200,000. Marconi of that there e Tecelagem de Algodão" Rio de Janeiro states interests are assòciated with the British and Hungarian Bank, and that exist 242 mills with 1,52,1,300 spindles and 57,208 looms, which represents the old Ungarische Bank und Handels A British consumption and stocks are approximately normal. Brazilian group dominates the magnesite industry, Britain is credited with cotton is used exclusively and bales are calculated at 225 kilos intention of gaining control of the chemical industry, and ali should be remembered that are not of uniform each, but it bales State riahts for e^nleitatiou of oil, na+uval gas. etc. h^v*» h«*u weight in Brazil. acquired by Anglo-Persian interests. Italy has concerned herself mainly with Hungarian timber trade, in banking and insurance. "Sunday Times" (25 Sept.) states that the Danube, the greatest waterway in Europe ,is now virtually under control of 0Sir Joseph W. Isherwood, Bart., is a name that to-day repro- British capital. The originator of our commercial strength upon sents the highest efficiency in shipbuilding. The Testimonial the river was Col. Arthur Grenfell, who first secured control of Dinner given in honour of Sir Joseph Isherwood at the Waklorf the Ersts Donau Dampfschiffahts A.G., which owns 366 barges, Astoria Hotel, , on Aug. 24, is of more than passing 45 steam tugs, and 35 passengér boats, and has capital of 100 interest in that it tells something of one who has done unusual million krouen. The River Syndicate, in which Furness Withys things and who has also accomplished a great deal for mankind are chief interest, has bought the whole of the Sud Deutsch Co. in general. Those on the Banquet Committee were men high in and control of the big Hungarian steamship company on the BRAZILIAN REVIEW. November 9th, 1921 1790 WILEMAN'8 CHARLES HALHO .&' SONS < ESTABLISHED 1858 > BRADFORD. ENGLAND.

MACHINE MAKERS & EXPORTERS. SPECIALISTS IN TEXTILE MACHINERY & ACCESSORIES.

CAIXA POSTAL 975 General Representatives in Brazil: Telegraph. Address: -«THOGEBRYERS" TELEPHONE NORTE 1520 GEO BRYERS & Co. RUA S. PEDRO, 28 - 1.° ANDAR - RIO DE JANEIRO.

SHORE DEPÔT:

HIME & Co. RÜA DE S. CHRISTOVAO. 759 /r TELEPHONE: VILLA 196. 52, Rua Tkeo{>luio Ottont, 52 ISLAND DEPÔT: :¦'¦;.'.'. 7-TELEPHONE 398 o /o Deposites: RUA DA SAÚDE 76, e THEOPHILO OTTONI 47 MOCANGUI GRANDE

importadores de Ferro, Ferragens, Tintas, Óleos, e artigcs (SUL). concernentes.

Fabricantes de canos de chumbo, de pontas de Paris, ferraduras, ferros de engommar, fogões, fogareiros, 9p OFFICE: de ferro, estanhado e esmaltado, ^ / pànellas, balanças, louças ^ 61-66 chapas para ty 0/ AV.A RIO BRANCO, fogões, moendas, pesos de ferro e de latão, caixas d'água, etc. TELEPHONE: NORTE 8028. rOAl.HO 'MINERVA" TELEG. ADDRESS: "GUERETS." Depositários da acredita enxada "PARASOL." POST OFFICE BOX 1193 KTO DE JANEIRO

Deposit fr Current Accounts Lyon: 16 Rue du Garrets in ali cumncies. RIO DE JANEIHO Letters of credit on ali Rua Buenos Aires, 4 & Candelária, 2 Marseille: 69 Rue Paradis lountries. Credits Opened S. Paulo: Telegraphic transíers at Rua Alvares Penteado, 17 sight or íixed date. m immIEZ EMA 01 Suares bought, sold or Santos: received in deposit. íIkwhmhh 105, Rua 15 de Novembro. Discounts," Collections & Securities. HEAD OFFICE Correspondents in ali Authorisftd Capital: PARIS principal cities of Frs. 50.000.000,00 1, Boulevard des Capucin.es, 1- the world. "¦¦ ¦!!* t.j^r •'.J_r__É_r^'

November 9th, 1921. WILEMAN'8 (BRAZILIAN REVIEW. 1791

"over their intentions by Danube known as the M.F.T.R. Co., thus securing 200 that the United States should prove pacific their défèhce_ and abandoning their naval bases of bavges, 29 steam tugs and 14 passenger boats. The two interests demolishing on Haw.aii, Guam and the Philippines. By this means the western form practically a controlling trust over the main .operations now in the Philippines, at 400 the river.—"Investor's Chronicle and Money Market Review." frontier of the United States, miles distance from the Chinese coast, would be withdrawn to Califórnia ;à distance of 7,000 mile_ from the said Philippines. contend Austrália Orders Cable in Canada. Seven hundred miles of But the American naval experts, says the writer, "pacific," would, for thé three-quarter inch aluminium steel reinforced cable have been ,that the policy considered, by Japan, abolish their fleet ordered from the Northern Aluminium Co., Shawnigan Falls, United States be simply suicidai; and that to disastrous consequences than such Ont., by the Victoria (Austrália) State Electricity Commission, altogether would involve less fleet could not cross the aecording to the weekly bulletin of the Department of Trade and a course, for the reason that the said with an enemy fleet Commerce. The line comprises six seperate wires, hence the Pacific and gain the victory in a contest large amount required. The packing will be on reels, each con- close to its own base of operations. taining three-quarters of a mile of cable, and it is anticipated The same authorities even consider that a proportion of 2 to the that the whole quantity will be delivered in Melbourne by 1, in naval power, would be required to constitute a real equality end of the year. The f.o.b. steamer cost is estimated at £91,416, ot efiective force in the Far East, by reason of the ãispropor- and the Commission claims that the landed cost of this cable will tionate respective distances; naval efficiency depending cn arriva] be more than £30,000 less than the lowest tender for copper cable, of transports at the scene of operations. How could the American duty paid, landed in Melbourne. fleet undertake the impossible task of exp.limg the Japanese from the Philippines, if they had already occupied them before the American fleet could appear on the scene; and without an adequate aerial defence wherewith to prevent an enemy landing. Lead Market Report. (Circular of Cookson & Co, London, The absence of land fortifications would greatly iacilitate such 14 Oct.) During the week the strength of the markefs statistical disembarkatioTi, and perhaps also the occupation of Guam, and of the Con- tho American position has made itself felt under the influence e. eu the Hawaian islands; practically intercépting tinental demand. The upward movement has also been helped Communications. by the covering in of the short accounts. The consuming demand True, Japan offered to abandon, eventually, the defences of has slightly imüroved. and the trade appears to be willing to cover tbe islands Bonin, Luchu, Pescadores, and Hachiojy, in exchange -^ífs forward requirements às to quanucy, although not as to prices. ior the concession solicited; but there would be no real com- there is no im- The demand for lead for January continues, but peiisation, because the said Japanese fortifications are only in The provement to report in the position of supplies. quantity the initial stages, or are not of correlative value. is not of lead available in the near and forward positions great, It vv_s these conditions of defence, including the necessity relapsè of the market is and what there is is very well held.. A lor coal and submarine cable stations, which gave the Importance should improbable and we might easily see an advance in prices Do the Pacific islands, and not merely to the "terra firma" :the present consuming demand continue. whose coasts are washed by that sea. The Phi_ippines, then, form a constant temptation (says the authonty), to the militarism and imperialism of a great en- croaching power, such as is Japan; and thus represent, indirectly, Vanderlip, famous Mr. Vand erlip's Plans. Mr .Frank A. an obstacle—in the adequate proteetion they require—to the him his for his indiscreet utterances during the war, which cost success of a conference which President Harding, in his good Bank of New York, which position as a high official of the National City sense, wishes to reduce to the limita tion of arm.aments for to be called the is planning the establishment of a world bank it was called, as soon as the problems of the Pacific were regu- United States and European B*nk, with a capital of 100,000,000 lated; but which the spirit of the Christian Churches and the -dollars and branches ali over Europe. great labour associations tend to develop, if possible, into a great attempt to bring about international disarmament. But the difficulties of such an undertaking must not be . f . lost sight of. Rússia has declared that she is not in any way bound by the decisions which may be arrived at without her con- Danger. An The Washington conference and the Pacific currence. She figures, meanwhile, in the second place in the "Estado written by article lately appearing in the de S. Paulo," measurement of Pacific coastline extent, possessing about 3,500 a statement the well known publicist, Sr. Oliveira Lima, gives miles from. Behring Straits to the Chosen of Korea, counting by Colquhoun and on the above subiect-baséd chiefly on a book the coast line of the Sea of Okhotsk as comparable to the Gulf Society-so exphcit and a pamphlet issued by the Geographic of México. clear, chiefly from the American comprehensive as to make perhaps The first place is occupied, meanwhile, by the United States to be examined at the forthcommg point of view, the problem which possesses more than 4,000 miles of coastline on the Pacific, remarks, intimately con, Conference; and which ,as the essayist including the outlines of the Aleutian Islands and Alaska; while United States. cerns, and divides, Japan and the the Philippines, from the other side of the great sea, add some in a recent pam- The Geographic Society affirms, he says, 1,000 railes to this oceanic façade. exist, if its that no such problem of the Pacific would the Pacific, the first phlet, addmg Taking Austrália as a land entirely on not form an Ocean crowded with islands; that Con- .southern seas did most would belong of right to Great Britain, because belonging to France, as well as place that of these, the islands tinent figures with a coastline of about S,000 miles, half of which lie South of theEquator; wheieas of those owned by England, in .th. Indian Ocean. British territory, from Dutch New Guinea Spanish to American sovereignty the islands transferred from to New Zealand, stands for, about, 3,500 miles of coast, to which German, received by Japan, by virtue of as well as those formerly must be added about 3,500 miles in Canada. situated North of the Line. their mandate, are The islands constituting Japan, from the point of Kamtchatka the Hawaian group, regarded as The United States possess to the southern extremity of Formosa, give a frontage on the but Guam is now surrounded the most strategically advantageous; Pacific of about 2,700 miles, without counting the west front on while the Philippmes may be by the new Japanese possessions. various seas. Japanese terntory lhe cie- said to be shut in on three sidès by does not exceed 1,000 will cértainly mvolve The frontage of the Dutch possessions fence of the Philippines is a subject which miles, being much greater on the Indian Ocean. long and difficult discussion. for about 2,000 miles; that of Indo- carried on by the Japanese news- Tlie China coast stands In the journalistic debate Sea. it has been suggested China (French) about 1,000 miles on the China papers in anticipation of the Conference, **-.:. 1792 WILEMAN'8 BRAZILIAN REVIEW November 9th, 1921.

BRITISH INDUSTRIES FAIR 1922 LONDON d BIRMINGHAM f February 27th. to March lOth. 1922 Organised by H. M. Oepartment of Overseas Trade

A comprehensive exhibit of the Leading British Manufactures is here officially presented, in the two principal industrial centres of the United Kingdom. This unique display of Britain's Best Merchandise may be inspected by the Worlds Buyers with the utmost convenience. Jàl fW Values can be compared, and the most advantageous terms secured for ali requirements, with the minimum trouble and the greatest saving of time. london: White City,W.

Musical Instruments. Furniture and Chemicals and Drugs. Stationery Basketware, Sports Goods, Toys, etc. and Printing. Fancy Goods, Travelling Silverware, Cutlery, etc. Requisites, etc. Brushware, Pottery. Jewellery, China and Earthenware. Glass and mmw Scientific and Photographic Goods. Glassware. \w//x '-A^^^^^^J^^^Ytyjy x J M birmingham: IJÊmÊ' Exhibition Building Castle Bromwich.

Foodstufts and Beverages. Boots Engineering in ali Branches. Agri- and Shoes. Leather, etc. Brassfoundry. cultural Machinery. Mining Appli- Hardware, and Ironmongery. Metals. ances. Motors, Motor Cycles, Cycle Construction, Building and Decoration. Accessories, Perambulators. Guns,Sad- Power, Lighting, Heating, Cooking, dlery and Harness, Fishing Tackle. and Ventilating. Brewing and Distilling Appliances. Descriptive Booklets and Invitation Tickets may 5^Sr be obtained from H. B. M. Embassy, Rio dé Janeiro or on request to the Secretary, 35 OLD QUEEN STREET, WESTMINSTER LONDON, ENGLAND. November 9th, 1921 WILEMAN'8 BRAZILIAN REVIEW 1793

On the side of the Pacific, México presents a coastline of 1 more than 2,000 miles; Chile, more than 2,500 miles; and the -other Latin American republics, about 3,500 miles, altogether. If the Conference turned really on the whole Pacific, and GAZ A5PHYXIANTE not--as it evidently does—rather on the Japanese Pacific, it would undoubtedly be nécessary to invite those American nations FORM l-GAZ which possess respectable extents of coastline on that sea. These were ,however, excluded, for the reason already men- tioned; while Portugal, which made good its historical claims, TRADA to-day summed up in Macau, and half of Timor, is about to be recognised and invited, on the same grounds as Belgium and Holland. // It^K^Ç^mM i\ áKk\ mmwtim£--jáW*^*3^ MLàw\l :^~^_^__»^5a^gj.^_^^_ti»V?. em germinação ou panellas não BOOKS RECEIVED. atingidas pelo Gaz. Iracema (A Legend of Ceará), by José de Alencar. Trans- lated from the Portuguèse by Norman Biddell, F.R.C.S. The action of the above prose põem takes place in the forests of Ceara, in the days of the old Capitanias. It is full of scenic and dramatic interest. The curtain rises on a picture of green seas, H. W. APPLEBY caressed by warm tropical breezes, "ventos alisios," such as blow over the ocean tract of Sargasso, strewn with Gulf weed; and "runs" fill the tiny sails of the physalia, as that fairylike zooid "beats before the gale or to windward" ; both of which it can RUA DO MERCADO No. 39 do at will. In their midst, skims the wave tbe ethereal-looking TELEPHONE NURTE 1146GAIXA form of a jangada (catamaran), a national craft apparently POSTAL 1231 modelled on the zooid above referred to; but really staunch "Appleby" weight of the European warrior who takes the Telegrammas Rio enough to carry the " hero's part in the play; a real Sir Galahad, valiant and true. Chapter II introduces the heroine in the costume of the "legend RIO DE JANEIRO tropies ;and the of Ceara" is the idyll of the loves and :adventures of the pair. ; .

¦m

¦ 1794 WILEMAN'8 BRAZILIAN REVIEW November 9th, 1921. ¦ ¦¦--- .

.*. ¦im Companhia Mechanica e Importadora de São Paulo

IMPORTERS OFl Materials forevery classof Construction Worlc; Railway materiais: Locomotives; Rails; Coal; Iron and Steel: Oils; Cement; Asf>kalt: Water Pif>es; Electric Material; Motor '•*-¦. .w Boats: Automobiles. etc. etc.

MAKERS OFl Coffee ano! Agricultural Mackmery; Sanitary and Eartkenvrare Materials: Nailü Screws and Bolts: Cottonseed Oil: 'Castor Oil: Coconut Oil, etc Iron and Bronze Castings. SAWMILLS Engineers and Contractors. ¦J*«w SOLE EXPORTERS OF: Chilled and Frozen Meats. and ali other produets, from the Packing Houses at Barretos and Santos. WAREBOUSES, FACTORIFS AND GASAGE CERAMIC WORKS: Ruas Monsenhor Andrade e Américo Braslllena» (Braz) Agua-Brano«, — Telephone 10-15. Codes Used: A. B. C. S th Ed., A. I. A. Z., Bentleys Lieber'3 Western Unioa and Ribeiro. SÃO PAULO RIO DE JANEIRO SANTOS LONDON RUA ,5 °£ novembro BRANCHES: AVENIDA RIO BRANCO. 25 RUA S. ANTÔNIO, 108-110 BROAD STREET HOUSE HEADncwu OFFICEurriuc 0ABLE js P. O. BOX 1534 P. O. BOX 129 New Broad st. E C. AD0PE8S! <(ME0HANIOA s fá*>{ P O Box 51-Telephone 244 I

^^B^^^^^Sr^^h^I^k •*- ;-S£»

X^Rl R»s^ks1SI «tlllisRl BslRsliMBlRRMM^á&Éili*' mWm^^m^^^m^mmm^^^Wmm^mm^^BMm^mtW^^^M^^¦t.-Mmmm^^mmmmK^S^-yS-Si^mm H^&S^S&sRrI rK£3%HQmKímmmW^mammK^'''^'•- <•,&& HrMHMrbHrbbmrMrb» lillilli (Owners: T. H. Skogland & Sõn A/S) INHi Head office at Haugesund, Norway IPlIilliii s.s. "HANNA SKOGLAND"ABT.7500 TONSD. W. s.s. "WALDEMAR sKOGLAND 7500" s. s. "T.H. hKOULAND"7300" SlPlllPIlilll s. s. "SOLVEiG bKOGLAND"6250" ilflllilili "LAURA s. s. SKOGLAND"biOO" IPflllIlll s. s. "MARGlT SKOGLAND"57003'" ‡ÍIÍI11IÍ s.s. "TORLAK SKOGLAND"* 5700" §f||§|l|pt$: s.s. "SKOGLAND"5100" s.s. "GROENTOFT"3100" :';•¦:.., s. s. "BUILDING" 6800" SÍ3§ UfTicesin Brazil: SKOGLANDS LINJE, Pernambuco; SKOGLANDS LINJE, Rio de Janeiro; SKOGLANDS LINJE, Bahia;SKOGLANDS LINJE, Santos;

BESIDES AGENCIES ALL OVER BRAZIL Regular service, Europe, Brazil, River Plate and vice-versa For further particulars about freights, sailing, etc, apply to Cable Address for ali offices: Av: Rio Branco, 9 2° andar SKOGLAND SKOGLANDS LINJE Tel. Norte 1676 m

Ê'*^ ¦ j

EXCELLENTE B0NB0N NÃO FAZ COLLICAS, NEM NÁUSEAS. 0 m.lh0r, 0 mais acra0ayel, 0 mais effigaz. "Ol3Í.» Para a pelle ? '•' '¦: /¦ /¦-:'¦'? 3H&1

Nóvember 9th, 1921. WILJEMAN'8 BUAZILIAN KJBVIJDW 1795

FOREIGN TRADE OF BRAZIL. Exports of Frozen and Chilled Meat, Six Months, Jan.-June: BEEF EXPORTS BY ARTICLE, ORIGIN AND DESTINVÍTON. '"OriginTonsDestination.loas Rio3,505 OLASS I. Germany 5,509 Santos 21,281 France 4,515 Rio Grande Exports of Lard, Six Months, january*june, 1921:— 9,990 United Kingdom 6,142 Pelotas2,117 Holland3,553 Livramento 16,550 Italy Origin TonB Destination. Ton* 17,174 Manáos 2 Germany 234 Uruguay 16,550 Para 2 Argentina 1 Total 53,443 Totol 53,443 Maranhão 1 Ai -T-rif. "~H Pernambuco 29 ód\e Verde ...... 16 PORK. Bahia ...,. IS V i net120 Origin Tons Destination.Tons Rio 953 f*miec Kingdom U3 Santos 720 United Kingdom 720 Santos 675 HolJand 30 OFFAL. Rio Grande 1 Maceiro. 27 Origin TonsDe stination. Tons Porto Alegre 721 Itaíy834 Rio 189 France 199 S. Borja 1 Peru4 Santos ..... 350 United Kingdom 297 Portugal 764 Rio Grande 355 Holland '..' 87 Uruguay2 Pelotas 60 Italy :..... 371 Livramento 623 Uruguay 623 Total 2,403 Total 2,403 Total 1,577 Total 1,577 1921192019191918 1913 Total ali kinds.1921 1920191919181916 Total in tons 2.4038659,9017,850 Total in Tons 55,740 42,14022,05032,33612,390 Value in Contos 4,5101,70719,10915,789 — Value in contos -.55,826 44,71124,52832,3369,772 Value in • 1741221,056874 — £1,000 Value in £1,000 2,&55 3,0791,3861,776479 * During the war, this commodity was in great demand in Exports of frozen meat, pork and offal date from 1916. Europe, but when American lard satisfied their requirements, Under thè stimulus of war demand, development was rapid, ship- ments rising the Brazilian product took a back seat, owing to its impurities. from 12,390 tons for the first half of 1916 to 32,336 This resulted in exports falling off from 9,901 tons for the first tons in 1918, droppíhg to 22,050 tons in 1919, rising to 42,140 six months of 1919 to only 865 tons in 1920. Since then the tons in 1920 and to the record of 55,740 tons. in 1921..1 The most encouraging increase quality of Brazilian lard has improved, which coupled with the . in exports of frozen meat was due to opening new markets, íiscalisation of the commodity prior to shipment, has resulted partly the up of such as Ger- in an increase in exports of 1,538 tons or 189.2 per cent during many and Holland, which during the first half of the current the six toonths ended June last, as compared with the same year imported 5,509 tons and 3,553 tons respectively, of Bra- zilian meat. No period last year. Of total exports for the first half of the cur- doubt the 16,550 tons exported to Uruguay in transit found rent year of 2,403 tons, 953 tons or 39.6 per cent were shipped at their way to Central Europe. These three coun- tries alone accounted Rio, 675 tons or 28.0 per cent at Santos. 721 tons or 30.0 per cent for 26,322 tons or 47.2 per cent of total exports at Rio Grande do Sul and 54 tons or 2.4 per cent at other ports. of meat, pork and offal, and more than made good the Italy was the best customer for Brazilian lard, followed by Portu- shrinkagé in exports to France, U.K. and Italy, which were in BraziPs best customers. gal, Áustria, Germany ? France, U.K., etc. previous years During the last foor months exports of frozen meat from this countrv have been paralysed, owing to the outbreak of rinder- Exports of Canned Meat, € months, january-june, 1921:- pest in S. Paulo and consequent prohibition of imports of our meat by most countries. This disease has now been wiped out, so that Origin Tons• Destination. Tons the revival of this important trade is a matter of a short time. Santos 52 Germany 40 Of the total of 55,740 tons of ali kinds exported, 53,443 tons or Rio Grande 63 United Kingdom 231 95.9 per cent was composed of frozen and chilled beef, 1,577 tons Pelotas 141 Holland 5 or 2.8 per cent of offal and 720 tons or 1.3 per cent pork. Porto Alegre 14 Italv 1 Of the above total, 3,694 tons or 6.6 per cent were shipped Livramento 3 Uruguay 6 at Rio, 22,351 tons or 40.1 per cent at Santos and .29,695 tons Bagé 10 or 53.3 pe rcent at the three Rio Grande do Sul ports,

Total 283 Total 283 Exports of Wool,. Six Months. January-June, v92l Origin Tons Destination. Tons 1921 1920 3919 1918 1913 Rio Grande 61 Germany 241 Total in tons .. 283 1,327 14,593 8,367 99 Pelotas 233 Belgium 31 Value in Cantos 613 2,544 23,420 12,076 99 Jaguarao 13 United Kingdom 47 Value in £1,000 22 179 1,322 659 7 Livramento 131 Uruguay 780 t Quarahy 113 \ • At one time this commodity promised to become an importan^ S. A. Victoria Palmar 4 staple n the list of exports. Owing to the enormous falling off Bagé 13 in the demand from the United Kingdom for oanned meats, ex- Uruguayana 493 ports fell off woefully from 14,593 tons for the first half of 1919, Itaqui 34 to. 1,327 tons in 1920 and 283 tons in 1321. Th_ quality of Bra- S. Borja  zilian canned meat leaves little to be desired, bat in price it can- not compete with the American commodity. Total 1,099 Total 1,099 Rio Grande do Sul .accounted for 231 tons of the total of í-83 19211920 1919 19181913 tons exported during the first half of the current year and San- Total in tons 1,0991,530 1,388 1,0471,0S2 tos for the balance. The United Kingdom took 231 tons. Ger- Va^ie in contos 4,6257,694 6,852 4,8941,005 many 40 tons, and Holland, Italy and Uruguay 12 1ons. Value in £1,000 157556 388 26867 !796WILJEMAN'8 BRAZILIAN RBVIEV»November 9th, 1921. LONA

"Locomotiva" Marca Registrada lllflifiliL, ___—__.•*•—

WATERPROOF. C A N V A ROTPROOF. FOR ALL PURPOsES AWNINGS. HATCH C0VER3, SAILS. TENTS. BOAT QOVERS RAILWAY WAGGON COVERS CART 00VEK3. TRAMOAR BLINDS. MOTOR-CAR HOODS. SÜNBLINDS. FILTERS for SUGAR FACTORIES. ETO. MANUFACTURED BY The São Paulo Alpargatas Company

SOLE SELLING AGENTS EDWARD ASHWORTH & Co. rda São bento 26. caixa 675. RIO DE JANEIRO. SÃO PAULOBAHIAPORTO ALEGRE RUA DO CA.^MO N.° 13RUA DOS 0UHIVES N.° R. DOS AMDRADAS, 259-261 CAIXA 559CAIXA 43CAIXA 399

TjiE GITY OF SAfllOS I]ttPHOy£i_£|-TS _|||fi|| _ií.ted. irDst-aclo de São _R_a*_loCaixa 4. -HANTQ8 GAS Department. Special Coke and Tar produced by the Continuous Carbonization process. Also soft Pitch for waterproofiitg purposes, crude Benzol and Oils íor the manufacture of Desinfectants." WATER Department. Distribution on the constant supply system. Special cheap rates for industrial supplies. Ships supplied with water of guaranteed purity, at the rate of 150 tons per hour if required. ELECTRICITY Department. Installations of any magnitude for light and power. Cheap power for long- hour consumers. Motor repairs. TRAMWAY Department. Seventy Kilometres of rapid electric Service, during 22 hours. Season tickets with non-stop service at night. Special terms for large parties. Parcel delivery; Service to aU points. Electric transport"Companhia of Goods and Building Material at cheap rates. Goods from interior should be despatched C/TY, Desvio Saboo". TELEGRAPHIC ADDRESS:-"Ç|DADE"-SANTOSHEAD OFF.CEr-SAlISBURY HOUSE, LONDON WALLHLONOON

PRINCE LINELtd Regular Service of Steamers between New Yopk, Brazil and Rivep Plate, and viee-versa aoents: HOULDER, BROTHERS & CO. LTD. Bna da Quitanda. 149, RIO DE JANEIRO — Rua Santo Antônio, 35, SANTOS » Tel. Add.: "Ppineeline" November 9th, 1921. WII.KMA!. s BRAZILIAN REVIEW 1797

Exports of wool show very little change during the last four Compared with the same six months last year, exports of half years, ranging between 1,000 and 1,536 tons. jerked beef show shrinkage of 467 tons or 13.2 per cent. 0f :« Rio Grande do Sul ports accounted for the whole of exports, total of 3,064 tons exported during the first six months of the pi which 241 tons were taken by Germany, and 780 tons being current year, Rio Grande ports accounted for 2,692 tons or 87.8 shipped to Uruguay in transit, most probably to Germany. per cent and Rio de Janeiro for 372 tons or 12.2 per cent. With tho exception of 2 tons, the whole of the exports of this com- Exports of Hides ,Six Months, january-June, 1921:— modity were taken by Cuba, directly or indirectly via Uruguay.

Origin Tons Destination. Tons Exports of Skins, Six Months, January-June: Oyapock 105 Germany 5,207 Manáos 20 Argentine 65 Origin Tons Destination. Tons Para 201 Belgium 808 Maranhão ..'... 387 Dantzig 2 Manáos 13 Germany 5 Ilha Cajueiro 258 United States 6,288 Para 74 Belgium 1 Foi taleza 251 .France 241 Maranhão 25 United States ... 893 Natal 53 United Kingdom 1,085 Fortaleza 134 France 41 Pernambuco 16 Greece "22 Natal 4 United Kingdom 7 Bahia 928 Holland 761 Cabedello 113 Holland 56 Rio de Janeiro .. 3,208 Italy 368 Pernambuco 116 Italy 3 Santos 2,139 Norway 52 Maceió 195 Uruguay 32 Paranaguá ..... 13 U.K., to order 458 Bahia 271 Foz do Iguassu 36 Portugal 733 Rio de Janeiro 55 S. Francisco 1 Uruguay 4,245 Rio Grande 3 Rio Grande 6,365 Pelotas 2 Pelotas 1,173 Livramento 4 Porte» Alegre 231 Quarahy 7 Livramento 3,595 Bagé 4 Quarahy 20 Uruguayana 17 Bagé 3 Corumbá ...... 1 Uruguayana 230 Itaqui 378 Total 1,038 Total 1,038 P. Murtinho 119 P. Esperança 151 19211920191919181913 Corumbá 454 Total in Tons 1,0382.0972,4211,1831,574 Value in Contos 5,52935,08820,7386,8875,553 Total ,. 20,335 Total 20,335 Value in £1,000 1862,4511,18537637o

¦ ¦ ¦'¦¦ _>«¦¦¦ 1921 1920 1919 1918 1913 Compared with the previous six months, exports of skins show decrease of 1,059 tons or 50.5 per cent. Of total exports Total 20,335 in Tons 17,310 24,053 14,065 20,194 of 1,038 tons during the first half of the current year, northern Value in Contos 23,524 36,235 44,603 25,402 18,002 ports, including Bahia, accounted for 945 tons or 91.0 per cent, Value in £1,000 837 2,550 2,530 1,387 .1,200 and Rio and southern ports for 93 tons or 9.0 per cent. The United States were the largest individual importers, Compared with the same period last year, exports for the with 893 tons or 86.0 per cent of total exports. first half of the current year show increase of 3,025 tons or 17.4 per cent having more than recovered from the reaction in 1920, when demand for Brazilian hides fell off disUppolntingly. Exports of Tallow, Six Months, January-june, 1921:- Of the total of 20,335 tons exported during t\e first six months of the current year, 2,219 tono or 10.9 per cent were Origin Tons Destination. Tons rhipped _t northern ports, inclusive j_ Bahia, 3,208 tons cr 15.8 Xjer cent at Rio de Janeiro, 2,139 tons or 10.5 per cent at Santos, Rio 150 Germany 500 and 12,769 tons or 62.8 per cent at ports south of Santos. Santos 129 Belgium 206 The largest individual importer was the United States with Rio Grande 740 Dantzig 3 6,288 tons or 30.9 per cent of the total, followed by Germany with Pelotas .... 141 United Kingdom 299 5,207 tons or 25.6 per cent, U.K. with only 1,085 tons or 5.3 per Porto Alegre 3 Ho'l»nd 248 eent, Uruguay in transit, of which final destination is unlmown, Livramento 1,028 Portugal1 with 4.245 tons or 20.9 per cent «and other countries with smaller Uruguayana 94 Uruguay ..-...'. 1,120 quantities. P. Esperança 17 Corumbá 75 Exports of Jerked Beef, Six Months, Jtnuary-June, 1921:— Total 2,377 Total 2,377 OriginTonsDestination.Tons 1921 1920 1919 1918 1913 Rio de Janeiro 372Cuba857 Total in Tons .. 2.377 1,735 3,899 239 S. A Livramento 2,614Portugal 2 Value in Contos 1,848 1,504 3,711 296 P. Esperança ..>58Uruguay 2,205 Value in £1,000 63 102 213 16 Corumbá20 The export trade of tallow was the result of the development Total 3,064 Total 3,064 of the meat trade, and as the latter increased, exports of tallow likewise improved. Compared with the same period last year, 1921 1920191919181913 exports during the first half of the current year show increase of íota lin Tons 3,064 3,5312,0801,5948 642 tons or 37.0 per cent. Ports south of Santos accounted for Value in Contos 4,499 4,4323,3291,9479 2,098 tons or 88.3 per cent of total exports, Santos for 129 tons Value in £1,000 155 3031851061 or 5.4 per cent and Rio for 150 tonsor 6.3 per cent. t .

1798 WILEMAN'S BRAZILIAN REVIEW. November 9th, 1921.

THE WESTERN TELEGKAPH CJMPANY. LIMITED. THE ONLY DmECT ROUTE WITH SOUTH AMERICA UNDER ONE MANACEMENT. Cable Stations in South America. Cable Stations in Europe and South America: WESTERN TELEGRAPH COMPANY EASTERN TELECRAPH COMPANY Pará (Travessa Campos Salles, 1). LONDON: Electra House, 17) Maranhão (Avenida Maranhense, Finsbury Pavement, E.C.2. Ceará Floriano Peixoto, 4). (Rua Liverpool: K 13, Exchange Buildings. Pernambuco (Praça Gen. Arthur Oscar) Dantas, 1) Manchester: 55 Spring Gardens. Bahia (Rua Conselheiro KWroRKflEK)t""«A Birmingnam: 128, Colmore Rio Branco, 117) Row. Rio de Janeiro (Avenida Brarífortl: 4; Commercial Street. Santos (Largo Senador Vergueiro) Santa Catharina (V. 15 de Novembro, 10) Cias gov/: 5, Royal Bank Place. Newcastle-on-Tyne: R. Grande do Sul (R. Andrade Neves, 18) K Exchange Buü- dings, Quayside. Uruguay: Montevideo (Calle Cerrito, 449) Cardiff: 33, Merchànts' Exchange, Bute RIVER PLATE TELEGRAPH CO. æ^^ui» pebnaÍieu«^ÍI|5|gfr"~*u» / Docks. Argentina: Brussels: Rue Van Hammée 58. Buenos. A ires 333. Calle S. Martin, 337. iVarSrid: Calle de.la .Puebla, 14. WEST COAST OF AMERICA Marseilles: Hotel des Postes. TELECRAPH COMPANY : Central Station, St. George's. Chlll: 8 % Arica, Pisagua, Iquique, Antofagasta, La Serena, Coquimbo, Concepcion, Coronel, COMMERCIAL CABLE COMPANY Talcahuano. Valparaiso (Calle Prat, 217) Nova York: Commercial Cable Building. Santiago (Calle Huerfanos, 851) Boston: 112, State Street. Peru»: Callao, Lima e Molíendo. Halífax, Nova Scòtia: 201, Hollis Street. PLEASE MARK YOUR* TELEGRAMS: From South America to ali Parts: To South America: BRAZIL Via Western. GREAT BRITAIN Via Eastern-Madeira Madeira. FRANCE- Paris, North England-Madeira URUGUAY Via Malta-Madeira Rio Plata ,,—South ARGENTINA Via de La GERMANY Madeira PARAGUAY a fi i> >i i» BELGIUM Belgo-Eastern-Madère CHILI: HOLLAND Eastern-Madère ii ii ii . »i ii ITALY Malta-Madeira n SPAIN Eastern-Madeira AH other places Eastern. St. Vincent «West PORTUGAL . d PERU' Cabo Coast» NORTH AND CENTRAL AMERICA BOLÍVIA and WEST INDIES, etc >> Commercial. AGENCIES: PARIS: 37, Rue Caumartin. porto ALEGRE: W. Jardine, Caixa 272. HEAD OFFICE OF THE COMPANY-.ELECTRA HOUSE, FINSBURY PAVEMENT, LONDON, E.C.2

IFHXEILi OITaa&immjaasi .

««Sa*iL«sS^ m&K aat^smatoaL-M E*s6qsssí*S^ mmmmmmJ ¦b&ommJÍ OIL ANY Avenida Rodrigues Alves, 437 Rio de Janeiro

TELEPHONE NORTE 5297 FUEL OIL STATIONS AT Pará - Pernambuco"-- Bahia - Santos Steamers bunkered alongside the quay Nóvember 9th, 1921. WILEMAN'8 BRAZILIAN REVIEW 1799

ALL AMERIOA ÜMjES INUOHPOIIMI Via Vi* DIRECT SUBMARINE CABLE COMMUNICATION . WITH ALL PARTS OF THE WORLD. Golon &6efí9mÚÊM k\\ Américas Mark your cablegrams via Colon and file them at the office of the company at ¦\ RIO DE JANEIRO : Corner Rodrigo Silva and Sete SANTOS:Rua 15 de Novembro 175 Setembro, BUENOS AIRES: Calle S. Martin 295 MONTEVIDfiO: Galles Zabal y 25 de Mayo OR AT ANY OFFICE OF THE NATIONAL TELEGRAPHS IN OTHER CITIES OF BRAZIL ROUTING DIRECTIONS TRANSMITTED FREE

3 II. cocoa crop as a result of the abnormal drought experienced in the latter months last the first half of 1921. of year and **w Exports of Manganese Ore, six months, January-June 1921 The Managing Director (Mr. William Anthony Brown) re- turned to Brazil in Nóvember last to continue the negotiations Origin Tons Destination.Ton» with the State Government, and in August this yeai he was í-ble Rio de Janeiro 145,000 Germany 1000 to sign a new contract on behalf of the company. This new con- United States 144,000 cession, which, in the opinion of the directors, was a mo=t satis- factory one, provided for the settlement of the differences ^etweeu Total 145,000 the State Government and the company, for the clearing up of some obscure clauses in the old contract, and genorally for tho 1921 1920191919181913 consolidation of the company' s pòsition , while the revision of the Total in Tons ..145,000 187.706128,381174,66449,600 tariff on favourable terms should counteract, to some extent at Value in Contos 14,808 12,41211,49920,4141,104 any rate, the losses sustained by the fali in the value of the Value in £1,000 ...... 553 8246371,12674 milreis. These new tariffs, based oh a sliding scale varying with the exchangé value of the milreis/ should come into force durmg Compared with the same period last year, exports of man- the present month, so soon as ali necessary legal formalities had ganese ore during the first half of the current year show shrin- been complied with. The report and accounts were unanimously kage of 42,706 tons or 22.4 per cent. The total exported was adopted.* shipped at Rio and was taken by the TJnited States, excepting 1,000 tons shipped to Germany. With regard to the trade with the United States, little or Anglo-South American Bank. Although the profits of the lio improvement can be looked for, seeing that American domestic Anglo-South American Bank for the past financial year show a re- production is little by little making that country independent of set-back compared with the previous 12 months, it must be loutside supplies. Europe is supplied from Indian and other membered that the latter period constituted a record for the sóurces, but it is possiblé that Germany may become a good eus- institution. The net profit for the year to 30 June last amòunted tomer once their own tonnage is in better supply. to £743,200, as against £1,024,200 and £520,100 for each of the The future of this indústry seems to lie in the manuf aeturo two preceding years respectively. The directors recommend a qf thè metal close to the mines. balance dividend making a total for the year of 15 per cent, same as for 1919-20, but on that oceasion a special bônus of 10 per cent was paid in additiou. A sum of £150,000, against £136,000, i» REPORTS ANDUIEETINGS OF COMPARES ! pdded to reserve, raising that fund to £4,000,000. As a yea-r ago, £25,000 is ágain allocated to staff pension and guarantee State of Bahia South Western Railway Co. The 12th annual fund, but the sum applied to staff bônus is reduced from £75,000 meeting of this company v/as held on 11 Oetober at 8, general to £50,000. On this oceasion, however, £50,000, against nil, is Arthur Street, E.C. Sir F. M. Crisp, who presided, said that ^lie applied in reduction of bank premises. Last year £58,600 was for the 1920 were again The cocoa crop in traffics year good. applied in writmg off expenses in connection with the acquisition di«trict was a record one, the carried by the com- the proportion of the shares of the British Bank of South America. At £402,800 again increased, amounting to about 87 cent of the pany per the amount carried forward shows an increase of £9,700. In view and the result of the working showed an increase in. total, year's of the adverse trade conditions in South America the results ar© earnings of 189 contos of reis. Unfortunately, the abnor-! gross highly satisfactory. mal fali in the value of the milreis more than counterbalaneed this increase, the results as expressed in sterling being disao- pòinting, gross and net receipts showing decreases of £11,683 and £9,223 respectively. Expenses continuéd high, the ratio of ex- MQN.BY penses to earnings increasing during the year by nearly 5% per cent. The fluetuations in exchangé during the last 21 months Official Exchange Quotations, Gamara Syndlcal and Vaiei:— were almost unprecedented, and although the value of the mil- reis now showed some improvement as compared with tho, lowest 90 days S'ght Sovf»rf*i_;n_ TV>11ars Vnl-^ point touched, it still remained at the low levei of abóut 8%d. Oct. 31 63-647 29-32 37$800 7$784 4$277 This serious dislooation of the exchangé rates not only affècted Nov. 1 .and 2, Holidays. the railway by the direet loss oceasioned on remittances, hút the Nov. 3 1-647 15-16 37$800 7 $761 4$277 dèpression and stagnation in business consequent thereon Nov. 4 7 59-64 37$800 7 $728 4$277, náturaíly bad an adverse effect on the earnings of the line. Tho Nov. 5 7 61-64 7 7-8 7$$02 4$277 receipts for the first nine months of the current year showed a - decrease of 225,000 milreis, due partly to this dislocation of bu i- Average 7 63-64 7 29-32 37$800 7$769 4$277 ness, but even more to the almost complete f a ilurc of the early Equivalent.,, 7.988281 7.910156 1800 WILEMAN'8 (BRAZILIAN REVIEW November Ofch, 1921.

SCOTT & URNER Banco Hollandez da America do Sul (Formerly of SCOTT & HUME) ]£._-gg-n«.erii-g> Contiactors - JE__uildicrs Head Office: AMSTERDAM. Rio de Janeiro - Avenida Rio Branco, 109. BRANCHES São Paulo- Rua Bôa Vista, 11. Rio de Janeiro—São Paulo—Santos Tel. Addr.: "SCOTTURNER" Riojanelro & São Paulo Buenos Aires—Valparaiso i_H-w_- juw»-- Santiago de Chile—Hamburgo. lliillillíM" íiííí.!W:W:ÍS¥a

íSSíSi.i:';";: H Slilililtl Mhorised capital Florins 50.080.000 Paid up capital... florins .5.080.000 llllllllllltll ¦xí:iiíNSií*í:i^ iísssí;_ísí^;;:„5^.«wasíss:í :;í: Reserves Florins 5.100.000 Illlí-illllillísísípés^ís ¦¦¦¦.'; swí^ Founded by Ro.ter_ia__.sche Bankvereei.ig.ng- Amsterdam - Rotterdam - The Hague Whose realised capital and reserves amount to Florins 114.000.000

RIO DE JANEIRO BRANCH 21, Rua da Candelária, 21 P0ST OFFICE BOX 1242 TELEPHONENORTE 1028

IBli-WBfíf i

_ . THE THB DELTA LINK" MARCONI INTERNATIONAL THE MISSISSIPPI SHIPPING CÜMPAKY. CODE Regular service of steamers between

IIM IMUNE LANGUAGES New Orleans—Brazilian and River Plate Ports. _ROU_b__ VOJL-UJVIJE» s/s "CARPLAKA" VOL ,VOL IIVOL III VOL IV ENÜLlSHENGLISHENGLISHENGLISH NOW LOADING IN SANTOS FOR NEW ORLEANS FHE1.ÜHRU&.IANPi.KlUüüESE GtHAflAN AND GALVESTON. SPANISHJaHüNESEITALIANDUICH CALLING HALVES AT RIO DE JANEIRO ABOUT NOV; 20 THE COST OF CABLING AND VICTORIA NOV. 24. AND IS AN INTERPRETING AGENT AND TO BE FOLLOWED BY THE PHRASEOLOGICAL DICTIONARY. "SAUCON'' LESSENS ERRORS IN TELEGRAMS LOADING BY BEING ABLE TO CODE AND DECODE AT SANTOS RIO DE JANEIRO and VICTORIA IN NATIVE LANGUAGE. GENERAL AGENTS FOR BRAZIL Particulars from LAGE BROTHERS WHYTE & CO. RIO DE JANEIRO santos Tel. Norte 6240/44-5 lines. Telephone No. 332. SELLING ACENTS P. O. Box 1032. P. O. Box "b". "Mississippi". Kr" Cables-"Lage". Cables fívenida Rio Branco, 117 HEAD OFFICE RIO DE JANEIRO THE MISSISSIPPI SHIPPING COMPANY. INC. NEW ORLEANS. November 9th, 1921. I7_LEMAN"S BRAZILIAN REVIEW 1801

Monday, 31 October. The Bank of Brazil posted 8 l-32d and Saturday, 5 Nov. The Bank of Brazil posted 8 l-32d for mar- export foreign banks quoted 7 31-32d, with money for prompt ket takers and foreign banks quoted 7 15-16d, with money for bills hardened, at 8d. The market opened steady and rates prompt export bills at 8d. The market opened Weak and business banks seíling at the close at 8d. The New York-London iate was done at 7 29-32d for ready bills. The close vas steadier, carne $3.93 1-4 and Paris-London 53.40 to the £. with sellers at 7 29-32d. The New York-London rate came $3.94% Tuesday and Wednesday, 1 and 2 Nov. Holidays. and Paris-London 53.70 to the £. Thursday. 3 Nov. The Bank of Brazil posted 8 l-16d and foreign banks quoted 8 l-32d, with money for prompt export Rio de Janeiro, 7 November 1921. bills at 8 3-32d. The market oper>ed firm, but weakened in the Closing rates: Bk. Brazil Other banks Dois NA.-Lon. afternoon, banks quoting money for íeady bills at 8 l-32d. The PencePence Dois New York-London rate came $3.93% and Paris-London 53.40. October 27th, 1921 8 1-32 7 15-167$900 3.93.000 Friday, 4 Nov. The Bank of Brazil posted 8 l-16d for Nov. 5th, 1921 ... 8 1-32 7 15-167$810 3.94.750 market takers and foreign banks quoted 8d, with money .for prompt bills at 8 l-16d. The market opeued weak, with no in- Rise or Fali -0$090 +0.01.750 terest and rates sagged. At the close foreign banks w uld only draw at 7 15-16d.^ The New Vork-London rato came $3.93% and The market opened the past week firm, with the Bank of Paris-London 53.45 to the £. Brazil quoting 8 l-32d and other banks 7 31-32d. After rising

APPROXIMATE VALUE OF THIRTEEN LEADINC EXPORTS, RIO ANO SANTOS, IN £1,000-

A v per No. of days.Còffee Matig'ese Meat Sugar Beans Cotton Rico Hides Lard Sundry* Total diem 81 January, 1920 ....5.20931 883 271 209 627 299 26 48 8 7.611 24fl •29 Fohrunry5M0122 220 16 169 614 211 119 18 42 6,532 225 «1 March7,29096 34 77 482 471 299 35 75 8,859 286 30 April5,326118 ' 396 9 317 336 157 113 6.772 226 •31 Mav 4.130286 120 15 453 519 60 13 52 5.648 182 30June 3,800153 364 3 107 550 47 10 22 5,056 168 "2.017" Ist 6 months 1920....30,856 706 287 482 2,600 2,386 708 124 312 40478 223 Monthly average ...5.143 118 336 48 80 433 39» 119 21 52 6.747 223 "Weekly average ....1,186 27 78 11 18 100 . 92 27 5 12 1,556 223 sTTuíya3,211 235 173 10 76 477 61 11 4.254 137 31August 3,717 258 177 87 1 110 274 58 15 4,697 152 30September4,312 102 94 217 2 105 287 111 24 2 5,256 175 31October 3,210 215 312 339 30 41 321 77 102 10 4,657 150 '§30 November 3,103 317 56 119 30 47 106 91 114 12 3.995 133 -31 December §2,628 138 28 155 25 2 10 53 15 3,055 99 2nd 6 months, 1920 20,181 1,265 840 917 74 404 1.467 408 308 50 25.914 141 Total, 12 months," 192051,037 1,971 2,857 1,204 556 3,004 3,853 1,116 432 362 66,3.42 L8j Monthly average ...4,253 164 238 100 46 250 321 93 37 30 5,532 182 Weekly average 982 37 55 23 11 58 74 22 8 7 1,277 182 TÕüaí 12 months, 191967,880 939 3,138 1,299 1,197 1,924 525 1,501 2,193 778 81,374 223 Monthly average, 1919 5,657 - 78 262 108 100 160 44 125 183 65 6,781 223 Weekly average, 19191,305 18 60 25 23 37 10 29 42 15 1,565 223 Monthly average, 19181,503 171 269 81 137 237 1,350 1,000 1,131 29,641 81 Total. 12 months, 191818,039 2,046 3,230 967 1,641 20 112 83 94 2,470 81 Weekly average 1918. 347 39 62 19 32 5 26 19 21 570 81 1921. 31 January 2,496 230 117 8 9 17 75 72 3,03198 28 February 2,745 111 359 11 3 1 30 29 52 3,343119 31 March 1,560 134 377 1 14 1 26 8 6 2,12768 30April 2,140 124 378 18 4 3 65 15 2,75692 31May 1,780 50 4 36 64 10 2 1,94663 .30 June2,312 10 44 53 1 6 8 2,44181

- ¦ ¦ " 榦————-¦—¦ ¦ —¦ ¦ ' ' æ Ist 6 months 1921....13,033 659 1,231 86 37 111 261 141 84 15,64486 Monthly average ...2,172 110 205 14 6 18 44 23 14 2,60686 Weekly average 502 25 48 3 1 4 10 5 3 60186

31 July 2,852 96 41 8 68 62 5 4 3,136101 31 August 2,395 33 39 87 1 13 70 22 2 2,66286- ¦30 September ...... 3,645 75 12 81 2 70 52 33 27 1 3,998133 Week ended 5 October 590 25 2 1 4 22 64492 Week ended 12 Oct. * 765 23 19 34 2 — t 3 846121 Week ended 19 Oct. . 621 6 9 1 2 7 — 64692 Week ended 26 Oct. . 830 1 6 17 12 866124 Week ended 3 Nov.... 900 15 19 36 6 9 985141 1 to 31 October 3,291 64 45 89 20 16 12 3,542114 1 to 3 November 21²— 6 279 iSSubjeo* to altera tion. •Sundry comprise Cocoa, Tobacco, Cottonseed and Mandioca Meai Figures for June havebeen revised and corrected. 1802 WILEMAN'8 BRAZILIAN REVIEW. November 9th, 1921.

The GOÜROCK ROPEWORK EXPORT CO., LTD.* RÜA PRJMEIRO DJBÍ MARÇO, 119' RIO DE JANEIRO ( FACTORIES AT PORT GLASGOW, G RBENOCK, LAKARK m TD Establlahed 173* ASSURANCE COMPANY, L. SOLE SPINNERS, WEAVERS, MAKERS & PATENTEES OF _ . Established in the year 1808 BIRKMYRgS" Total security for Policy Holders Cbucbrated WATERPROOF & ROTPROÒF. COTTON & FLAX over seven million Sterling. CAN V AS Tt ALL FIRE RISKS ACCEPTED for Tcnts of ali description s, Tarpaulins Hatch Covers, Waggon Covers, Agents in Rio de Janeiro: Cart Covers. Bio í. ROPI.S, TWINES, CORDS, S'l\SEL WIRE ROFKB HARDMAN & CO., Avenida Branco, 39, COTTON NETtí TELEPHONE: NORTE 399 AND TRAWL NETS ALh AI QUALITY

Nippon Yusen Kaisha I Cia. Souza Cruz No. JAPAN MAIL STEAMSHIP Co. Regular Service of High Class Steamers between ports of BRAZIL, ARGENTINA, SOUTH ÁFRICA, ¦\: AND THE FAR EAST.

KANAGAWA MARU, first half of December loading.

For Cargo apply to: Mr. CUMMINC YOUNG, Rua Candelária M. For further particulars apply to the Agents: @ LAMPORT AND HOLT, LTD., AV. RIO BRANCO, 21/3.RI0 DE JANEIRO THE BEST CIGARETTE

WHARTON, PEDROZA & Co. WALT CO. NATAL Estado do Rio Grande do Norte — Brazil 143, Rua da Quitanda, 143 COTTON MERCHANTS RIO DE JANEIRO I]«POt?TE_.S & EXPORTEIS Ria 1D de Reiembro, 3 II Rua 1 de Setembro, 49, Sobr. AGENTS: —New York & Cuba Mail SÃO PAULO_PORTO ALEGRE Steamsliip Co. WAR ;/¦' London D LINE 'yi ACOB WALTER & CO. J COTTON C0MPRES8 & WAREHOUSE* Billiter Sq. BnildiHgs. NATAL Cables "WHÍRTOr, NATAL COMMISSION & SHIPPING AGENTS, FIRE & MARINE INSURANCE ACENTS, NATIONAL PRODUCE MERCHANTS, Codea: — Ribeiro — A. B. C. Sth — Laiberas' ELECTRICAL, HYDRAULIC * CENERAL ENCINEERS. — Bentley^. ". I .1

November 9th, 1921. WILEMAJTS BRAZILIAN REVIEW 1803 v to 8 l-16d in the Bank of Brazil and 8 l-32d in other banks on Brazilian Treasury Bonds in London. A cable from London, Thursday, the market weakened owing to rumours of political dated 4th inst.. states that a fresh issue of Brazilian Treasury disturbances, which continued until Saturday, when the market bonds, bearing 7 per cent interest, is to be made there. became somewhat panicky and rates dropped to 8 l-32d in the Bank of Brazil and 7 15-l6d in other banks. The arrival in this city of the opposition candidate for the The Money Market. Presidency of the Republic gave rise to many rumours, some no 1iÁj «doubt influenced by sp^culators. Saturday, however, passed) Nov. 6.'21 Oct. 29/21 Nov. 6,'20 *Apolices, away quietly, but as we write demonstrations have become unified, 1:000$ buyers 795$789$— somewhat *Rio exciting, with the result that exchange is weak and municipal, 1906, buyers .... 175$174$' ::. XX— *"H'tto, business more or less paralysed. The uneasiness—which we 1920, buyers 158$158$ *Bank B— sincerely hope will be of short duration—shown in ali markets of Brazil 258$264$— has its origin in unnecessary warmth perhaps expressed on cer- Brazil Funding, 1898, 5 per cent.... 7371. 70 tain subjects in Congress. We have no doubt that a short timo Ditto, new, 1914 626261 will cool the leaders. and give them an insight to the harm this Co-version, 1910, 4 per cent 4644%49 procedure will cause if persisted in. Ditto, 1908, 5 per cent 6360%68% The natural factors which favour a rise in exchange still Federal District, 5 per cent 605858 exist. The balance of trade for September shows over £3,000,000 Brazil Railway &J85/82% in favour of exports, reducing the adverse balance for the first 9 Brazilian Traction 3026%44% month of 1921 to a little over £7,000,000. Should foreign trade Leopoldina Railway 1515%32 continue to show the same satisfactory results to the close of the S. Paulo Railway8787' 131 th© adverse balance will year, have- been oompletely wiped out. Dumont Coffee, 7 per cent, pref 5%5%7 This factor alone woud have a most favourabe effect on exchange, St.. John dei Rey Mining Ord 151516-3 the natural trend of which- is to follow the balance of trade, pro- Rio Flour Mills 6062-665 vided, of course,- politics do not interfere with it. London a^d Brazilian Bank 18% s 18%23 The mark has been playing antics which are hard to explain. Royal Mail Ordinary 6974% (ex-d.) 115 Transactions have rim to enormous amounts, one or two reaching British War Loan, 5 per cent, 1929 881-887%82% the million mark! After dropping to 34 reis, it reacted to over Consols. 2% per cent 48%48 7-8451-8 40 reis, with rising tendency. The improvement is stated to be French rente, 3 per cent 53.6054.2064.75 the result of an agreement come to between the Allies and Ger- Ditto, 5 per cent, 1915 80.20/ 81.4585.20 many, whereby reparations payments are made easier. Whatever Ditto, 4 per cent, 1914 65.6065.6069.25 *CloSing the reason, speculation in marks is a very risky business. It is ¦j of Rio Stock Exchange. also reported that German exporters in future will demand pay- Nov. 6, 1921 Oct. 29 1921 Nov. 6, 1920 ment Exchange, N. in gold marks. This would, no doubt, attract some gold to York-London Germany, but it would also considerably increase the value of (teleg.) dois per £ 3.94.253.93.003.42.25 German goods—a paper mark and a gold mark to-day are two Taris-London very different terms of value! (sight) fcs 53.37 ^ per £ 54.0855.03 Sight rates, Rioon:— The Bank of Brazil to Increase Its Capital., The directors London, pence. 7%—7 13-167%—7 27-32 1115-16—1218 of plris the Bank of Brazil announce that the capital of the bank will $57»— $582 $570— $576$300— $365 be increàsed to 100,000 contos by the emission of 150,000 shares Italy $317— $325 $310— $317$216— $220 of 200$000 eaeh, which will be offered for subscription , Portugal ...$730— $830 $750— $600$790— $830 on 3rd November and open until 27th December next. The shares New York. ..7$750—7$8207$80O—7$9004$70O—4$780 will be issued at a premium of 50$000 each. The terms of sub- Switzerland ...1 $455—1 $5001 $450—1 $500— «scription are as folWs: 25$ per share on allotment, of which B. Aires, peso.2$550—2$6002$400—2$6002$040—2$09o 20$ capital B. Aires, and 5$ premium; 10 per cent of capital and premium gold5$750—5$8005$840—5$8504$660—4$770 at intervals Spain of sixty days during the first six months, and 20 per 1$060—1$0751$050—1$060— Montevideo ce^t during the second six months; the remainder at the discretion 5$240—5$50O5$250—5$380 of the directors. Denmark 1 The whole of the premium will be placed to $460—1 $4701 $500—1 $520— crédit of the reserve fund. Norway 1 $065—1 $0721 $040—1 $070— Sweden 1 $806—1 $8503 $800—1 $940— JaPan 3$775—3$7853$760—3$800— — Offisial Average Exchange, Rio on London, in Pence. Belgium $558— $567 $557— $568 19191920___1921— HoPand (flr.) 2$710—2$7902$670—2$*4C— Hamburg Sight90 days, Sight90 daysSight90 days $036— $045 $048— $050$07ô~ $086 Jan. 12 61-6413 5-6417 9-1617 11-169 5-89% Roumania .. $0p0— $075 $065— Value $128— Feb. 13 1-3213 5-3218 3-6418 11-649 21-329 25-32 of £ sterling Mar. 13 1-813 1-417 11-3217 15-329 5-169 7-16 at sight rate .. 29$883—30$236 29$883—30$355 — 3 mos. 13 3-6413 11-6417 5-817%9 17-329 21-32 Vnlue 1 sovereign April 13 29-6413 37-6416 11-6416 19-648 7-168 9-itt buyers.- 37$50037$500— Discounfr., May 14 5-1614 7-1616 7-3216 11-328 1-48 3-8 London .... 3 11-16%3% % Do, Bank June 14 3-814%14 55-6414 63-647%7 7-8 of England .5 5% % 6 mos. 13 17-3213 21-3216 45-6416 53-648 13-168 15-16 Ditto. Ne-» York 8 fc % . July 14 13-3214 17-321414 1-87 7-647 11 32 Aug. 14 3-1614 5-1613 17-3213 21-327 7-88 N O T I C E S . Sept. 14 23-6414 31-6412 23-6412 31-648 5-328 9-82 LOOSE LEAF LEDCERS AND TRANSFERS. 9 mos. 13 51-6413 59-6415 33-6415 41-648 7-168 9-16 WE HAVE JUST RECEIVED A LARGE CON- Oct. 14 37-6414 45-6412 3-6412 11-648 3 11 648 64 SIGNMENT OF LOOSE LEAF LEDGER AND Nov. 16 5-1616 7-1611 15-3211 19-32_ _ TRANSFER METALS. ORDERS PLACED CAN BE Dec. 17 33-6417 41-6410 23-6410 31-64— EXFDC.TED IMMEDIATELY. 'PHONE OR CALL 12 mos. 14 25-6414 33-6414 15-3214 19-32 AT OUR OFFICES TO INSPECT SAMPLES. Ágio % 87.61 86.0086.6085.01*206.38*202.10 IMPRENSA INCLEZA, Deprtn 46.74 46.2846.4145.95*67.35*66.89 % RUA CAMERINO, 61-69, RIO DE JANEIRO. *Average for first six months. Telephone: Norte 1966.Caixa Postal 809. 1804- WILEMAN'S BRAZILIAN REVIEW. Nóvember ^h,rJ92^

¦¦ ¦¦ ¦¦ Jy Rio de Janeiro Lighterage Co., ltd. GROCERIES and MEATS. Lightepage Coiitr-aetors, Stevedores, ¦ Special atteiittpn to tbe English Tug* and Launeh Owners, í Sal vage Opepatops. i and ^tneriçan trade. Fleet—Ovep 200 Lighteps: 22,000 DELIVERIES MADE ON ORDERS RÉCEIVED tons total capaeity. BY TELEPHONE. RAPID fíAUDLINti ÒF GARÇO CUAHANTÈED. "Emily'* Salvaçe Tug équiptied with X3 Modern Salvag-e Appliances. McGlements Cia. Largo de São Francisco, Teleph. Norte 321 Ria DE JANEIRO 75, Rua Visconde de Itaborahy, 75 RIO DE JANEIRO P.Q BOX 1164. TELEGRAMS-^UCHTERACE RIOJANEIRO" Còdes—BENTLEVS, A.B.C. 4th. Ed., LIEBER'3, A.\ LONDON — Dashwood .House, New Broad Street E, C. 2 ENQUIRIES 1NVITED.. ¦i ¦¦

TP. -_T w^ O U L E PHOTOGRAVÜRA MODERNA COMMISSION AGENT MARIO ARENttARDT&G . ! » MANUFACTURERS REPRESÉNTÀTIVE. ,^RD.Gerando

mWÊ'- IMPRENSA INGLEZA ENGLISH PRINTERS AH Kinds o f Book and Job Printing and Binding. 77 The Only Man ufa ture rs of Loose Leaf Ledgers in Brazil. Catalogues on Application 0 Rei dos Sabonetes YRUA CAMERINO, 61 Caixa Postal (P. O. Box) 809 — Telephone Norte 1966 Guííry-Rio. RIO DE JANEIRO

COMPANIA NAVIERA SOTA Y A.NAR ' aBILBAO ¦ (SPMJN)f.::

REGULAR SERVICE Of FAST STEAMERS FROM HAMBURG, ANTWERP AND BIÍ.BAO TO BRASIL MAND RIVFR PLATE AND VICE VERSA.* r..^1??1.- agents : HCULDER BROTHER ^Co2 S |§|>1 7 VÍ: Rua dá 149. -- Rio de Janeiro Quitanda ;í .¦ P. O. Box 1383.ATelegTaphic Address "HOULDERS,, ', ':¦"• ¦ . ... v. L•' kí ;;¦.-.,.,,\ ¦. ¦ . L;!'¦¦¦;' •¦ i Pascual Gomes & Cia..— SANTOS Wllaibn Sons & Co. Ltd.-*.BAHIA Wllsons Sons 4 Co. Ltd. — PERNAMBUCO m i ':9th;'t92Í. November ffILEMAN'8 BRAZILIAN REVIEW m&

Movement of Rio Exchange Banks, September, 30th 1921. LONDON AND RIVER PLATE BANK.

Balance Sheets for Rio City only, ex branches. v .; Capital authorised y:..;......... ;£4m>,000 • Capital Subseribed £3^000,000 Capital Realised ...... ;.....,..*.;£2.040 000 ÍY,In Contos of Róis. Reserve ,,, _,y Fund ••••••ii-vi-»£2,100,000 SightF»xed of '"ash ' ¦.>¦Ca8hT Io Sight BALANCEí DenoritiTH- | 'k-iSHEET FOR THE SrVtàLÚ BRÃÚtik: ' '' 31stX>ctober. ¦ London & Brazilian ... 35,746, 23,766463107,04677.2 ''¦;';.;• 1921. ;. ;'..k ..kt - ¦'*-•¦ ••• Assets. ••••-••.•... '. ,- kk • í British ofi S; America. 21*864! 28.25135.348:-10,23261.9 vBiijs discounted,....-..,.;,,;...;:.x;-. 5^*âfê$8i> iliondon & R. Plate.-37,798.21,197,Í8,75p\ . 6,116131.4 BiUs_receivable i Foreign•..,.¦„,.12.5931687$250 Royal of Canada 25,40222.82623,6647,887Í07.3 Home ¦¦3.956:M7$940 Loans m current accounts National feity ...J... 50 539i 8167273,1814,61669.1 ....,...,...,.,;..,„,,.r7,503:403$630 -.j^?ft*erab ^Posited as security &n...,. 9.604:95l$450 ..Am.Forgn. Bkg. Cor. 4,883j 10,60110,0661,40148.5 Collaterajs deposited .-;.;.,.../;..'.71.351:720$000 Nác. Ultramarino ..... 9,86330,18633,8246,70529.2 Head Office .....:.:....;.„...;;,;,.; 21:952$120 Portuguez do Brasil ... 19.37653,03552,13713,45837.2 Branches and agencies3.893:22Ò$660 Cash: In Escandinavo currency ...... ;........ ,.,..;;..,...12.559:884$170 Brasileiro . 2,9723,8581,369303217.1 Sundry accounts...!...,r,.;.>;4.004:632$32<)

Yokohama _ 14.2535601,0367,1891375.7 ¦ Specie  * P' 7 " ¦ - Française et Italienne . 27,47451,452. 39,39616,93869.7 •-.¦-...' ¦ | I ¦ V .1^,130.923:339$370 Italo-Belge 13,08530,50215,8281,09582.7 Liabilities. Hollandische v. Z A 6,49225,98310,5165,67452.2 £aPital ;v500:000$00O Brasilianische fur Dd. . 5,53315,9397,2538,00176.3 Current accounts with interest'.'.7.387:802$690 Ditto, without interest ...*4.929:437$970 Dd. Sudàmerikanische , 3,16119,660*14,6854,85121.5 Deposits at fixed datesk'.[2.125Io49$3_0 Dd. Uberseeische ...... ,9,063, 24,378;12,60310,62371.9 Deposits with notice;.,'.,;,,..,.. 120:000$000 Collateral deposited and as. security ..!....80.956*671$450 Head Total 286,504 443,866 405.967 112,135 70.6 ^Office,...,..5.395:944$270 Branches and agencies12.231:998$4Ô0 Bills payable 103;396$OÓO Bank of Brazil 1...Í24;O05 606,579" 424,207 182,436 29.3 Sundry accounts '..17.173:039$l$O *Including 8.504:000$ in foreign money. ,Y TOD^'.130.923:339$370 Note. the balance sheet of the head office (Rio) of the Bank E.&O.E.—S. Paulo, 5 November, 1921.—W. Hill, Acting Manager; L. W. Ellis, Acting of Brazil being unavailable, we publish that including ali Accountant. br?ãnches. Balance sheets. óf'.-other banks are'now published for Rio City only. NATIONAL CITY BANK 0F NEW YORK. Capital:...... -...$40.000,000.00 BANK BALANCES Reserve Fund $65,000,000.00 LONDON AND BRAZILIAN BANK, LI Ml TEU. BALANCE SHEET FOR RIO DE JANEIRO ' r -. OFFICE. - p 31st October, 1921, CapitalÍ:..k '¦'.!.. ¦ '.¦••'; ' *:?* £3.000.000 .'. . A8SetS.¦ :.•¦_ Y Capital Paid-TJp • ,£1.5W.0OO Bills discounted-..:; 68*045:447$625 Reserve Fund £1,500,000 Bills receivable: Foreign 14.051:260$000 , Domestic ...;....,;.., 3.325:871$468 BALANCE SHEET FOR THE S. PAULO BRANCH Loans in current account  40.534:351 $295 Collateral deposited as security ...... : 45.186:135$539 '[¦,¦ Securities 31st October, 1921. deposited,v 36.998;506$434 ÍÍy' .,-... ••.'••"{;:¦¦ "Assets. Agencies and branches 16.024.:696$444 ‡• Corresnondents • Bills discounted17.534:841 abroad..,.„r... 521:234$350 $680 Securities owned by bank - Bills receivable: Foreign ...... :í 11.981:648$800 ' 995:732$50o Corresnondents in Brazil...'..,.. 1.654:359$880 VY Domestic 31.664:728$45043.646:377$250 Real estate owned by Loans in current account ."...'...'.'"."41.316:707$510 Bank..--.. 1.758:348$5Í0 Cash in currency 29.609 ;037$170 Collateral deposited as security 52.469:636$830 In other species ..'. .-. Securities deposited 25:000$GOO 63.594:654$880 At bankers ....,...... ;.... 4.746:802^059 Branches and agencies .....;4.707 :011$890 Sundry accounts4.69p:843$851 Correspondents abroad 271:009$820 "V;.Y¦- Securities owned by bank" ..'352:275$000 '*•..¦¦! *¦¦¦¦> Cash: In currencv  29.198:186 $990 Y: 258.167.:627$12r> In other species ? 4:587$50029.202:774$490 Sundry accounts2.016:57I$190 Liabilities. Capital, U.S. $1,000,000.00 3.082:196$000 :k.z"k255.111:86Ò$540 Deposits in current accourt with interest36.095:023$779 Ditto, in foreign money953:861$S90 Liabilities.? Ditto, in limited accounts6.063 :552$219 Deposits in current accOunt without interest ...18.135:680$256 Deposits -at fixed dates. 4.672:332$668 Deposits in trac. with interest. 35.345:759$790 ¦ S-°ci'riti"'=' deposited and in guarantee82.184:641$973 Ditto, with advice 9.079:212$460. Head -Ditto, Office32.456:305$53ô without interest .., 9.605:302$320 Agencies and branches Ar...:11.818:262$375 Deposits at fixed date ...... 14.947:697$01068.977:971 $580 Bills payable ...... :...... Y 3.862:584$742 Securities deposited and in güar.antee æ116064:291$710 Sundry ^counts4.779:920$136 Head Office ...:?10.537>982$270 Correspondents in"... Brazil;..:.. A.:.....;."..;...... 2.0S3. .430:648.$103 Branches and agencies ...... 5.065:402$400 Ditto, abroad :495$490 Bills poyable¦.96:179$110 Bills redisepu"ted abroad .:.;...'...'..34.171:990$4§0 Sundry accounts54.370:033$470 Bills receivable .;..........:.17.377 :13*1 $468 ¦:'Z ".:....;. '"•-,'¦•'¦ •'..'.',,'...•;.•' ... 25:5.111:860$540 258.167 :627$125 *¦*¦;¦"' T [ Í5.4kÓ.E.-rS.. P>ulo, 5 !Novemher,/19,21.~-F. Ford, Manager; •¦ .4 •¦:•.:-"'" "v.iil ¦ Çio de Janeiro.;. 7, N^ember,\lj921.^. R: Ôrr,.'Manager :íor W. Fofbes-Nixon; AccountâíiiY*- --••*""¦' c «'«:¦ i Y.. v: Brazil; J. Blanco, Accountant.,..•,..• F

1806 WILEMAN'8 (BRAZILIAN REVIEW. November &___, 1921.

THE NATIONAL CITY BANK OF NEW YORK. Railway News BALANCE SHEET OP THE S. PAULO BRANCH. THE LEOPOLDINA RAILWAY COMPANY. 31st October, 1921. WSTIMATED WEEKLY TRAFFTC RKCETPTS. Assets. Biils discounted 8.828:218$194 Refeip.a for WeekTOTAL Biils receivable: Foreign 16.876:275$000 Y_ar Week Knded from Domestic 5.608:540$171 22.484 :815$l71 Onrrenoy. ExohangeSterling lat January Loans in current account 23 532 :094$43O

i .._•-. • 9.165 :190$149 Collateral deposited as security -.581$ l»2lOot 29952:000»7 31/32£31,609 £1,453,275 • Sermrities deposited 84.768 7-5 Head' Office Y 8.018 :28'-$4r-0 1920Oet. 301.000.000.. 12 15 32£51.953 £2,246,555 Branches and agencies .. 5.583 i861$741 abroad 4.128 :010$702 Correspondents _00$000 [iKVrHRHH.  Securities owned by bank ..;.... * Casb: In currency ...... ;..».. 19.673:152$000 Oeor«B8«48:000$4 1/2£ 20,3-4 £ 793,280 At bankers 3.461:565$572 L -æ At bankers. with advice 2.083:8818800 tn otber species 16:910$350 25.235:509*722 THE S. PAULO RAILWAY. Sundry aeeounts 2.260:439$963 r ESTIMATED WEEKLY TRAFFTC RECEIPTS.

194.005:809$237 ÍIh(Ji--h)'.(> for ,W«pKl'' i i on "•> ²²'«* v^ar W -k Ended. LiabilitieB.• / , (iurrmioyI.xch Sterlim;.Jan. in cnrrent account with interest10.813:236$05l jp_ròQits 1288.725-17-8 Ditto, in foreign money;.105:51^6^0 I r 1M21Ocl 30 8II-73p^C_0 7 29/32 £ 26.740-12-1 1.5H2:668$715 Ditto, in limited aeeounts 1920Ocl 31 1.104:336 tf MO.12 3/8 £ 56.942-7-5 2.017.950-6-0 without interest ... 13.602:909$390 Deposits in current account __OL Depopits at fixed dates ,1.857:686$270 Be^intie* deposited and in guarantee 9,3.99.3'77X^4 increa.se..²²²²— 23..64:884«227 Head Office weorease..232:606*300 415/32 £ 30.201-15-4 731,224-8 _. Branches and agencies 16.254 :_88__969 Correspondents abroad 4033:891S>'7 15$õ00 __,_,— Capital 30 000:0008000 Capital paid-up 13 000:000$000 . .-; Rise . ²$100 ²— — 7.500:000$000 , Reserve Fund \;(> Ditto,  ²0.6 ____-- Options:— BALANCE SHEET FOR THE HEAD OFFICE AND BRANCHES 31st October, 1921.'t RioSantosNew York A Hfl-. __Ht Dec.Dec. . MarchDec. March Capital unpaíd:'.17.000.0008.000 October 29 .... 18$35015S250 -14$9258.17c 7 94c Biils discounted ...,42.961:403$82O 5 ... 18$40015$40ü 15$2008.54c 8.10c Biils receivable—Foreign ...... 1.680:4058740 November Domestic 25.257:926$95026.938:332$690 Loans in current account 38.665:357$.80 Rise $050 $150.$2750.37c0.16& Collateral deposited49.842:161 $390 Ditto, % 0.3 1.0 1.84.Ô2.0 Securities deoosited46.862-.545$660 vote.—Rio quotationsper 15 kilos,San toapei <0 k Íor «no Aeeounts with agencies 17.179:209$:'80. N«w York lb Aeeounts with correspondents abroad1.352:730$P30 per Ditto. with corresponde^ ts in Brazil 1.057:916$5L0 Securities owned bv bank2.954:563$2d0 The Markets. The sitnation at demanda Caxb: ln ha*>d and at bankersl.».144:í?_>nik4M political present Sundry aeeounts5.675:781$320 more attention» than business, which means that the. markets -iii _. - rise and fali according to the trend of events. Some short time 269.634-892$520 ago ali markets showed firmness, with a distinet tendency to rise, but on certain news reaching New York on Monday—tho Liabilities truth of which may be questioned—that market weakened, and Capital 30.000 :OiK)$000 other markets quickly followed suit. Reserve Fund 7.500:000$000 Tbe Rio market with closed on Saturd^iv quiet, with 7s unaltered Deposits in eurrert aeeounts interest ...... 64.927:238$S0O *;"e Depo-its at fixed dates17.418:254$900 at 18$300 per 15 kilos from previous Saturday* s close and * Securities dewited and in guarantee96.704:707$O5O of 50 reis or 0.3 per cent in Dec. options. The Santos market Biils receivable:...26 938:332$6í-)0 closed steady and with a rise to 100 reis or 0.6 per cent in 4a, Aeeounts with agencies ..918.332:360$0.00 150 reis or 1.0 cent in Dec. and 275 reis or 1.8 cent in Ditto, with correspondents in Biazil and abroad.3.036:507$280 per per March options from Saturday's close. Biils payable114:828$550 previous Profit and Loss Account 415:570$490 The New York Market closed steady, with a rise of 37 points Sundry aeeounts4.247:082$860 or 4.6 per cent in Dec. and 16 points or 2.0 per cent in March options. ..;269.634:892$520 - The Rio Market has shown but little change, indeed hardly any coffee has been shipped S. Paulo, 7 November, 1921.—T. B. Muir. Superintendent to the U.S. and little to Europe. The Santos market has been more active Director; L; A. Teixeira de Asumpção, Acting Manager; L. A. "United and some good shipw Fleury, Accountant.• ments have been made both to the States and Europe, ¦<-} mmm¦ P m

November 9th, 1921; WILEMAN'8 (BRAZILIAN REVIEW. 1807

« RENATA" USINA TAHYS NEWEST BALDWIN L0C0M01.VE dwin Pl.,aI,,a,i0I, locomotives are estensively _» _. __ used in Sonth America. Our sk.ll and expeiiSJTe °.SnC. en9lnes,.we» «W ns for ínrnishing __S_ Rena,a"' as ül^ated:bnrnsmotive power especiallywood adapted to the particular ^S^^^m^: fi and is ^ wi* Our office nearest your city will give you cata- logues and full information regarding Baldwin locomotives for Plantation service.

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- J

v,ví\w;__-_ THE BALDWIN LOCOMOTIVE WORKS PHILADELPHIA (U. S. A.) RIO DE JANEIRO PARÁ BAHIA dâ Alfândega, Ruà 5 Eduardo C. Holden Cory Bros & Co., Ltd.

especially to the former. Demand has likewise been more active, Closing Prices of Santos Options, per 10 kilos:— but the situation dragging political has had a effect. About NEW BASIS 150.000 to 200,000 bags have been shipped weekly from Santos to the U.S. during the last few weeks, and should demand from 31 ft3rri 4th5th /November that quarter keep at this rate, things at Santos will liven up '¦....15$62515$62i5 . 15$47515$475 December somewhat and keep prices firm. 15$52515$55015$45015$4QO The Government have raised the limit of prices at Victoria January 15$42515$45015$30015$275 and row rule the roost completely. Government buyers at Santos February 15$300l.$400' 15$27515$225 have cea&ed operating for the last ten days or so, demand being Mareh 15$175 15$3001581.75'15$20O sufficient to maintain prices, which can be trusted to remain April14$12515$25015$15015$125 well above Government leveis so long as entries are restricted and consuming markets without reserve stocks. These factors, Sales of futures at Santos were as follows:—Oct. 31st, 81,000 coupled with tho favourable statistical position would seem to bags; Nov. Ist and 2nd, holidays; 3rd, 103,000 bags; 4th, 28;000 make valorisation unnecessary; particularly the proposed perman- bags; 5th, 9,000 bags; total for week, 221,000 bags. Total sales ent valorisation operation—of doubtful utility. of futures'for the month of October amóunted to 595,000 bags.

Companhia Registradora e Caixa 1 do Liquidação do Rio de Janeiro, T Entries at the two ports—Rio and Santos.-during the week during Quotations the week ended .th November, 1921, ; ended 3rd November show decrease of 37,320 bigs or 13.9 per Per 15 kilos, cent as compared with the previous week, of which 6,436 bags or Highéstlow.st 7.5 per cent at Rio and 30,884 bags or 16.8 cent at Santos. Spllers Buyers Rpll.ra Bnv*»r__ per Compared wjth the same week last year, entries at the two NovenAei" 18$'8Ò0 18$650 18$400 18$35l> ports show shrinkage of 28,346 bags or 14.0 per cent, accounted December 18$9(J0 18$750 18$450 18$350 for hy increase of 20,481 bags or 35.5 por cent at Rio, but de- Ja^nary, 1922 19$000 18$850 1'8$500 18$400 crease of 48,827 bags or 24.2 per cent at Smtos. February 19$0Q0 18$800 18$500 18$400 T.- For the crop to 3rd November, entries at the two porta Maroh..' 19$0OO 18$850 18$500 18$400 amóunted to 4,658.982 bags, of which 1,546,715 bags or 33.2 per April ...... 19$00O 18$800 18$600 18$400 cent at Rio and 3,112,267- bags or 66.8 per cent at Santos. Com- Total sales of futures during the week amóunted to 44,000 bags. pared with the same last crop -—;:—¦—-i—¦]—¦———:—:,— period entries at the two porta . show shrinkage of 484,541 bags or 9.4 per cent, accounted for by increase of 574,124 bags or 59.3 per cent at Rio, but shrinkage» LOOSE LEAF LEDGERS AND TRANSFERS of 1,058,665 bags or 25.3 per cent at Santos. . , THE IMPRENSA INCLEZA. Clearances Overseas at the two ports for the week ended 3rd November were larger, and amóunted to 273,782 bags, against 251,207 bags for the previous week and 220,566 bags for the cor- WILEMAN'8 BRAZILIAN REVIEW. Nòveinbe^^thj-1921.

COFFEE CLEARED FROM THE PORTS OF RIO AND SANTOS DURING THE WEEK ENDED 3 NOVEMBER, 1921» AND FROM 1 JULY TO 3 NOVEMBER, 1921 "*FOR THE CROP  ... \

‡-—Total Croj Crop to 3 November Weék ending; 1919 20 1920-21 1920-21 1921-22 Inc. or Dec. % 3 Nov. United States... 5,828,628 , 5,585,407. 1,863,849 1,677,630 ²186,219 9.9 166,074 France 1,643,009 1,206,586 525,857 + 141,097 36.7 24,158 384,760 ; Algiers, Dakar, Tunis, Morroco 117,612 62,082 500 49.293 + 48,793 9758.0 1,000 Italy.;... 539,232 328,776 243,782 136,396 - 107,386 44.0 26,693 and Ragusa 140,977. 168,069 85,670 137,372 + 51,702 60.3 United Kingdom 72,672 67,292 15,169 12,219 2,950 19.4 Gibraltar, Malta, Barbados 20,480 13,851 5,625 12,362 + 6,737 120.0 3,550 Canada 13,450 24,785 7,650 4,750 ²2,900 38.0 ••••••••• 5,200 7 South África 224,117 166,257 70,035 101,286 31,251 44.6 North África .-. 2,655 21.5f>3 21,503. 50,465 25,575 12,625 28,750 + 16,125 127.7 Belgium  302,629 419,228 180^617 133 612 47,005 26.0 5,453 Holland 189,566 897,593 236,555 477,031 + 240,476 101.7 750 Scandinavia 643,590 600,765 350,228 214,886 135,342 38.6 30,571 Spain and Colonies .. 48,404 49,745 6,868 3,135 3,733 64.4 375 Portugal and Islands 11,023 9,201 5,253 998 4,255 81.0 Plate and Pacific ... 305,439 390,882 133,659 94,442 39,217 29.3 3,781 Japan and East 5,107 2,600 18 + 18 Finland 11,269 105,153 25,093 43,360 + 18,267 72.8 1,000. Switzerland 1,000 + 1,000 Russia 1 Greece and «Crete 15,250 19,875 9,000 7,252 1,748 31.9 Roumania 2,625 1,375 125 1,250 91.0 Bulgária 125 + 125 125 Turkey 9,737 17,246 7,350 2,070 - 5,280 72.0 963,903 262,457 394.230 + 131,773 10,252 Germany 40,067 ~3.3~_60.2_ TotalP.7 10,135,379 11,132,696 3,929,623 4,058,199 + 128,576 273,782 Coastwise..Y....:...... 220,02054,758 42,319 4,996 - 37,323 88.2 22

Grand Total 10,355,399 11,187,454 3,971,942 4,063,195 + 91,253+ 273.804

-• responding week last year, and their f.o.b. value £900,466, Clearances Overseas from Rio andSantos by Flag for week 4829,607 and £764,668 respectively. ... ended 3rd November, 1921, and Crop to same date. with the week, clearances overseaB at the 'twoy.._ Compared previous CropCrop ports show increase of 22,575 bags or 8.7 por cent, accounted Rn_> *i.B»a_ of 2,629 bags for by increase of 25,204 bags at Rio, but shrinkage 3 Nor :" at Santos... British tò U.S. . 333,775. 61.7. 6Í£$2 the week of 273,782 fm Of total clearances at the two ports for To Europe ...... m,252 31.7 17,816 bags, 71,198 bags or 25.9 cent were cleared from Rio and per , Plate & Pncific. 35,0fl36.6 5Ò0 or 60.6 • 2Q2.584 bags or 74.1 per cent from Santos, 166,074 bags —.-.1—:B : per cent goi"g to the United States, 30,571 bags or 11.2 per cent 1 Total British540 690 13.3-80.838 to Scandinavia, 26,693 bags or 9.8 per cent to Italy, 24,158 bags Flags American753,820 5 Other 18.722,453 br 8.8 per cent to France, 10 252 bags or 3.7 per cent to Germany, Scandinavian670,438 16.5112,671 5,453 bàgs or 2.Ó per cent to Belgium, 3,781 bags or 1.4 per cent Dutch577.971 14.2— to the Plate. 3,550 bags or 1.3 per cent to Gibraltar, 1,000 bags Brazrtan496.202 12.219,949 <>r 0.4 per cent to Dakar and Morroco, 1,000 bags or 0.4 per cent French 296,416 7.33,429 £ò Finland, 750 bags or 0.3 per cent to Holland, 375 bags or 0.1 Italian262,555 6.524,573 cent to Las Palmas and 125 bags to Bulgária. '"'""''per Ja panese176.088 4.6 ( 30Ò For tlie crop to 3rd November, clearances overseas at the two Spanish 107,961 2.6— ports amounted to 4,058,199 bags, of which 965,849 bags or 23.9 1 German95,531 2.4-i íper cent were cleared from Rio and 3,092,350 bags or 76.1 per ' ''' . ; Belgian60,552 1.5. 9,519 «cent from Santos. Compared with the same period last crop, Portuguèse19,975 0.55*> cleâramces overseas at the two ports show increase of 128,576 bags or 3.3 cent.* per Total !«••••¦ »••••••••• 4,058,199 100.0 273,782 ¦ • CòasWife clearances for the crop to date show shrinkage of 37,323 bags or 88.2 perycent."•--''"' F-O.B. Value at the two ports for the week ended 3rd Nov. àveraged,„3.289 per bag, as against £3.302 per bag for the prè- vious week. For the crop to same date, f.o.b. value averaged vX TO HAVE WELL BOUND LEDGERS ALWAYS £3.113 per bag, as against £3.853 for the corresponding period IMPROVES THE APPEARANCE OF AN last crop. OFFICE. A TATTERED LÍfrGER IS EQUÁL TO A RAGGED-SEATED CHATR IF YOU Coffee Loaded (embarques) at the two ports for the week PRIDE YOURSELF ON THE APPEARANCE were smaller and amounted to 166,115 bags, as against 206,594- "O^ YOUR OFFTCE PtTT IN LOOSELÈAF bags for the previous week and 228,960 bags for the same week Km J&DGÈRS--IT ^WILL PLEASE YOU AND last year, and their f.o.b. value £546,352, £682,173 and £793,575, YOUR ACCOUNTANT—'PHONE NORTE 1966 respectively. Novembe* 9th, 02^ WILEMAN'8 BRAZILIAN REVIEW. Jüfi

Sales -. (declared) at the ,tw37 927 15-, %b. 1,307 103 1,910 971 96 1,393 Sept.' ;..... 340 224 5641 569 343 912 ííeb. 22; ... 1,301 107 2,039 842 129 1,395 10Sept. ... 319 224 543 546 340 886 March 1 .... 1,472 : 102 2,096 754 95 1,048 17Sept. ... 34Í 221 562 522 336 858 March 8 1,365 ';. 107 2,205 776 148 1,352 24; Sept...... 362. 227 589 496 332 828 March ÍÚ ... 1,361 132 2,262 854 128 1,475 1 0't,. 365 230 595 478 330 908 March 22 ... 1,525 147 2,332 . 822 119 1,498 8-October, ... :348,.: 234 484 328 812 ,582. '465. ^?r7p,\y- l/,400 114 2,354 822 119 1,498 15Óct. 334 236 570: 323 788 April o ...:.. 1,561 139 2,272 859 129 1,015 22Oct 355 232 ^587 •458 319 777- April 12 :... 1,574 Hil 2,267 950. 117 1,561 29; Oct...... 367 223 590 r457 • April 19 .... 1,548 312 769 221 2,182 964 107 1,487 5 Nov'. Afcril 372 225 697 437 307 744 ;26: .. 1,562 156 2,110. 1,125 110 1,366 May 3 1,515 180 ::*'Knm 2,014 1,099 89 1,441 ('-! 0 May 10 .;.... 1,522 106 : 1,923 1,143 120 1.447 Quotations»- t ... Spotflaar May 17 ..... 1,566 109 1,905 996 102 1,315 ir>:. ..;. bio f.o.b. fcseh. No. T Bio Options -¦' Wo. T Ooit 041* May 24 ... 1,549 146 1,358 952 346 1,301 Btora N. T. May 31 .;. Holiday. Pouco Cents Conta Rs. Cents Cents ' -June 7 .... 1,430 125 1,606 875 67 1,557 1921. (q) Jan. 8..:. 9 15-16 JWie 1'4 ... 1,302 132 1,597 863 112 1,602 6 1-4 : 6.57 ívli$300 7.96. 3 25 - (q) Jan. 29.'. 9 June 21 .. 1,228 103 1,640 888 100 1,577 9-16 6% 6.61 11$800 7.80 8.10 (o) Feb. 5 ... 9 June 28 ;.. 1,179 143 1,515 1,042 111 1,611 5-8 6 5-8 . 6-33 11$600 7.75 8.20 > (j) Feb. 26 ¦•'.,. July 5 1,171 94 1,420 1,070 122 1,538 9 7-8 y. 6 7-8 6.23 .11 $000" 7.55 8.15 (j) Mar. 5 i July 12 ... 1,169 72 1,391 1,069 98 1,507 ... 9 15-16 eA 6.31 10$500 7.30 7.90 •July (o) Mar. 26 9 7-16, 19 ... 1,190 84 1,432 1,092 148 1,531 '.'. 6 1-4, 5.88 I 10$400 6.85 7.3Q. (o) April 2 9 -July 26 Y... 1,145 70 1,510 992 146 1,510 6.13 13$0ÕÓ 8.00 8.50 (o) April 9 ... 8 9-16 August'w 2 1,076 70 1,506 970 123 1,503 6 5.77 12$900 7.55 8.00 i.;. ' (p) April 16. 8 Aüg. 1,068 121 1,474 852 119 1,468 9-16 6 5.66 12$900 7.55 8:00 ;... April 23, _Aúg. 16 1,029 83 1,428 8Í39 119 1,517 -, (9), 8 21-32 6 1-8 5.62 13$000 7.65 8.10 April 30 ' 1,062 137 1,380 657 10/7 1,305 • (o>; 8 7-32' 5 5-8 5.54 ; 13 $400 7.55 8.00 May Auf. 30 C.Y 1,149 104 1,337 951 139 1,650 (o) 7 . 8 14 7-8" 6.00 13$400 7.55 8.00^ Sept. 6 .... 1,096 134 1,360 991 127 1,648 (o) .May 28. 8 13-32. . ,6A 6.33 . 14$200 8.10 8.60 ¦7 Sept: 13 Í\'V: 990 147 1,255 1,082 '78 ; 1,675 (p) ,.June 4 ..... 8 5-16 : 6.60 16$000 9.00 9.45' :Sept^ 20 ... 873 157 1,174 1,099 101 1,697:; (n) June 11 „. 8 1-16 71-8 6.60 18$000 9.70 ÍO.25' Sept. 27 .... 865 97 1,251 (n) June 18 7 7-16 6.08 17$200 1,097 87 1,715 $á 8.55 '8.95r9.10 OctY-4 :Z ::¦..' 784- 81 1,282 991 127 1*648: (h) June 25 . 1-16 1-4 5.68 17 $800 8.40 (p.) July 2 7 6 1-4 17S800 úct. íi i\ ;¦¦.¦¦ 835 111 1,379 1,132 126 1,732 ...... '7 "GA 6.34 ! 8.35 8.9o 9 : Oct. 18 .... 762 132 1,339 1,169 106 1,644 (n)^Júly v "7 6.38 Í8$200 8.40 8.95 1 (Úr Jul£ 16 • óci,Y25 u:z ; 700 147 1,420 1,177 109 1,616 y. '7 é 1-4 6.34 " 18$300 8.55 : SIS- Oct. 31 700 122 1,343 1,299 127 1,595 (jf July 23 :.. 1-81'] 6 3-8 6.21 18$400- 9.00 -9.60^ July 1-16 [3/ À #-Y.Yi' 806 65: l;407 : 1,290 ,,,72. 1,607 (j)-. 30 r.;.. ' 18$400 9.90 10.50 (j) Aug. 6".!. 8 1-16 7 1-8 18$100 9(,75 1Ò.35" (i) Aug. 13 8 1-32 rtávre:— !';: , 7 6.51 18$000 9.65 10.25 (j) Aug. 20 . 8 7 1-8 6.63 18$100 9.65 10.25 1921 1920 I; 9v4«g. 27 . 11-16 6.46 18$000 9.25 9:85 Brasil Other Total Brasil Ofcher TotaJ (j).,Sept. 3 ..:. l-32! • • -J?V-:Y ':96^ "8 7.32 18$200 9:75 10.35' Í Jan. 7 303 ; 267 660 437 531 -•7.74 •18 ' '508 •975*. (}) Sept. ld Y^ 1-4H"' 7 7-8 $400 10Ü5 io.7i>:^ 14 Jan 7 tâ& 265 690 %7 :j ? 1;48Ò :; (iOpçt 177;:. 8 7-32 7 7-8 7.57 18$000 9.90 10.50 21 Jan. 439 260' 699 489 ; -''969* (j)¦'Sept. 24"l.. 8 15-32 <7.82 10.25: 10.86V 1810 WILEMAN'8 BRAZILIAN REVIEW November 9th, 1921.

n (j) Oct. 8 3-8 8 147.8018$100 9.9510.55 For the first three monthsof the crop, productión was as (j) Oct. 8 8 13-32 8 1-47.8918$100 10.1010-70 follows:— (r) Oct. 15 ...8 1-16 8 1-87.6418$100 9.7010.10 Brazil."' Other Total 22 ....7 29-32 7%7.4618$200 9.559.95 3,809,0001,685,000 5,494,000 (r) Oct. ' 1921-22 .

(f) Freight $1.00 in full per bag. World's Deliveries for the month of September were made (j) Freight .80 cents per bag in full. up as follows, in 1,000 bags:— (k) Freieht $1.20 New York and $1.50 New Orleans per bag (1) Freight $1.30 per bu^ ni full New York. EuropeÜ.S A.OtherTotal (m) Freight $1.40 per bag *n full New York. 1921 832795155 1.782 1,302 (n) Freight 70 cents per bag of coffee. 1920309733260 (o) Freight 60 cents per bag of coffee. 1919 712780831,575 (p) Freight 50 cents per bag of coffee. (q) Freight 40 cents per bag in full. For the first three months of the crop, world' s deliveries

BrazilOtherTotal "Le Visible Supply of the World (FromM. Laneuville's Café.") 1921-22 3,218,0001,847,0005,065,000 1920-21 2,839,0001,318,0004,157,000 In 1,000 bags of 60 kilos each 1919-20 2,231,0001,991,0005,222,000 '• V "í>V« Increase or Decrease World's Visible Supply (Duuring and Zoon), in 1,000 bags... 1921 19211920 Oct, 1921 on Oct. 1 Sept.1 Oct. 1 Sept,'21 Oct,'20 31 Oct, 30 Sept, 31 Oct, Oct, 1921 on Ungland 247 275372 — 28 — 125 1921 1921 1920 Sept,'21 Oct,'2Q — Haniburg .; 122 .74- + 48 + 122 Stock, 9 Europ. ports 1,747 1,748 2,036 1-289 HolÍanó\ 386 374422 + 12+36 Aflcat, BrazilEurope . 522785888 •-; 263 - 866 Antwerp 145 150105 — ,5 +40 Do, East-Europe 4031— + 9+40 Havre 619 590816 + 29 - 197 -.61 Bordeaux 47 3798 +10 Vis. Supply, Europe.2,3092,5642,924255 — 615 - — Marseilles 86 86220 134 Stocks, United States.1,2031,3412,017138 — 8I4 90 77- +13 + 90 Afloat, Brazil-U.S. ..772497360275 + 412! Stocks: Rio 1,7441,611420133 +1,324 Brazil sorts 908 820916 +88 - 8 Santos2,8822,9442,30562+ 577 Other sorts  834 8431,117 - 9 — 283 Bahia 4034276 + 13

Total Europe ... 1,742 1,6632,033 + 79 - 291 V. Supply World .... 8,950 8,991 8,053 — 41 + 897 Afloat, Braz.Eurp. 789 841815 — 52 — 26

.V. Supply, Europe 2,531 2,5042,848 + 27 — 31? World's Productión and Consumption, according to M. E. Laneuville, is as follows, in 1,000 bags of 60.kilos each:— Stocks, U.S.:— 1917-8 1918-9 1919-20 1920-21 1921 22 398 Brazil sorts ....7991,113 1,197 314 Rio (entries) 2,958 1,768 2,549 3,305 3,000 37 252 Other sorts 535572 807 Santos (entries) ....12,169 7,369 4,169 10,511' 7,830 Bahia & Victoria .... 709575782680650 670 Total1,384 . 1,685 2,004 — 351 133 Afloat, Braz.-U.S.497194 630 + 303 Total Brazil 15,836 9,712 7,500 14,496 11,480 Other countries, expts 3,011 4.500 7,681 5,787 5,000 V. Supply, U.S. 1,8311,879 2,634 48 - 803 World's productión . 18,847 14,212 15,181 20,283 16,480 Stocks: Rio 1,6111,475 400 + 136 +1,211 Ditto, consumption ... 14,833 15,968 18,499 18,462 18,500 — fcantos 2,9443,033 1,963 89 + 981 - —1,756 —2,020 Bahia 3437 24 3 + 10 + or — productión..+4,014 —3,318 +1,821

Total Brazil 4,5894,545 2,387 + 44 +2,202 The above statistics reveal a factor of great interest, i.e., that as Brazilian productión falls off that of other countries in- creases and vice-versa. In 1919-20, when Brazilian .urodíiccon Visible Supply ofthe World:— was at its lowest, owing to the disatrous frost, mild coffee | ro- Brazil sorts 7,5827,419 5,945 + 163 +1,637 ducing countries increased their output and exports to make good - - Other sorts 1,3691,605 1,924 236 555 the deficiency, which in that crop year was 3,318,000 bags short of consumption. . In 1920-21, however, when Brazilian productión V. Supply world.8,9519,024 7,869 73 +1,082 increased to normal, that of other countries fell off. I ...

'9'tIiV Nòveiíibér 1921. WILEMAN'8 BRAZILIAN REVIEW J811

Another factor is evidant: that production is now—this Milds.—The spot demand is fair and the market steady. being nothing new—well under consumption. The statistical Some of the producing countries are asking extremely high prices of coffee is, its pòsition therefore, as we have often stated, ali in in comparisóir wijbh those Yuling on the spot, are facing goes by that time the present stock of certified coffee is expected to a consumption of 20,000,000 bags, in which case stocks at the be so much reduced.as to force tlie prices of these months close close of the current crop will have almost disappeared. to. a parity with. a.replacing hasis in Rio. The fact that other countries produced more coffee than Brazil in 1919-20 should serve as a warning of what might happen did valorisation fever carry Br.azií too far in pushing prices to a prohibitive height, for it will give them an opportunity to in- Goffee Statistics orei.se production and* compete, therefore, with Brazilian coffee. CNTRIEI

- -Circular of Minford, Lueder & Co, 7 Oetober, 1921:—The During the week ended 3 Nóvember, 1921. spot demand frr coffee has been fairly active without much chang© ______IN BAGS OF 60 KII,OH in prices, which are, however, very steady. The deliveries in the POR THE WEEK ENDEh FOR THK United States of ali kinds of coffee during September were very CROP TO good and amòunted to RIO 817.400 bags, against 821,498 bags in Nov 3 Ocf. 27 Nnv 4 Nov... August 3 Ní.v . 4 and 683,022 bags in September a year ago. The deliveries 1921 1921 1920 1921 1920 .. of coffee in the United States for the three months of this crop Central and leopoldina Ky 66 1511 7^."67 528 were 2,210,356 bags, against 2,238,588 bags for the same time for Inland 5õ 1.35b 352191°.910 3 5^7 2 620 368Í-.3 RtálJ3 4 8 the previous crop. The deliveries in Europe during Sept. were Co»stwÍ8e, discharged.. 8.809 8 566 1.740126.85839.273 close up to times, amounting pre-war to 953,756 bags and Avere Total 78.117 84.553 57 636 1 for the three months 2,518,959 bags, against 1,152,816 for the Transfe-rpd from Rio to 546.715 972 591 Hictheroy previous crop, an increase of 1,366,142 bags. The total deliveries v~~- for the first three month of this crop in Europe and the United Nefc Kntries at Rio...... 78.117 84 553 States were 4,729,315 bags, an average for the crop of 19,000,000 57.636' 1.5467)5 972.591 bags without including Nicthe oy from Rio & the deliveries in other countries of over Leopold na two million bags. The world's visible supply on 1 Oetober, as repòrted by the New York Coffee Exchange, was 8,920.288 bags, To*al Rio. inclu ing Nithoroy & transil. a decrease for the month 78 117 84 553 57.P36 1.54".7159"2 591 of 111,456 bags. Of this visible, 50 Total S»nios: 152.345 per 183.229 201.172 3.112.267. 4.1.0 932 cent is in the ports of Rio and Santos. It is well to keep the above fact in mind. Also, Toial Rio A Santos. that the stocks of Europe, including 230.462 267.782 258.808 : 4 ,58.962 5.143523 afloats, were only 2,527,000 bags and for the United States 1,803,607 bags; Europe having about three months' supply in TJio total enlriesbytle sight and dlflforentS. Paulo Ràilways for the Crop Io -^ ov 3 the United States about two months. With deliveries were as íoüuws : last month Per amounting to 1,771,156 bags, it will be seen that both Reniíiining Past Po-ocibana To'»] Europe and the United States mu*t at Toial'-'airos at at be constant buyers. Regard- Jundiahy and ofhe b R Paulo S. ing 1921 1922 2.5l6.f8") '66.21Q Paulo prices of Santos, we acknowledge that they look high, bemg 1620 3.0^2 361 3.112 267 192] 3.471.245 624.13^ 4 195.3-4 much above the Government fixed basis, but can see no relief, 4.170.932 owing to the restriction of Santos receipts, and from the fact SALES OF COFFEE (DECLARED). th,at the consuming countries are without sufficient reserve stocks. During the week ended 3 Nóvember, 1921. Unless the present Santos crop turns out materially larger than Nuv. 3;i921 Od 27 H-il Nov. 4/1' 28 the average estimates, and a very much crop Rio..,, 42 3»2 51.8 greater produced Saulos, 8 lti.,63 for the 1922-23 crop, present prices will look extremely low bofore 141.UUÜ 99.t)UO 164.UUÜ this Total,. crop is ended. In the United States • the price of Rio coffee 183.362 150-808 380-569 is low, owing to the spot stock in New York, which is selling VALUE OF GOFFEE CLEARED abont one cent below .a replacing basis. This stock is being quite FOR FOREIRN FORT* rapidly reduced and if the Brazilian Government continues its During the week ended 3 Nóvember, 1921. support, by next March, if not before, we will be forced to a cent IN BAÚS iH* 61) Kll.l)> advance. The visible l supply of Brazil coffee for the United States Nov t is 3 O 27 No-. 3 Oct 27 Ciop to Vov. 3 1921 1,342,569 bags, against 1,746,856 bags a year ago. 1921 1921 1921 1921 Cost at-d Freight.—Apparently tha trade have awakened to Rtíg-S £ the more favourable business and a business has been Rio. 198 45.994 good trans- 71 195-3'?6 125.118 965 849 2.448 213 acted in cost and freight for Santos. S-nto«...... 584 205 2°2 237"5.130704 481 S 092 350 10 145.744 l>eliyeries of Brazil coffee in the United States for the 6 cíays Total 1921/22 •of 7 273 7o2 251 207 900.436' 82) 607 4.(58.199 Oetober were 93,616 bags, against 96,284 in;Sept. and 101,355 127,33 957 d< 1920/21 .. 220 566 298.839 764 in Oetober last year. 668 938 609 3 929 623 15 140.034 ¦',

1812 WILEMAN'8 BRAZILIAN REVIEW November 9th, 1921.

I* OOFFEE LOADED (EMBARQUES). OUR OWN STOCK. IN BAGS OP 60 KILOS During the week HO Rinck ouOct. 27 1-21 1 7(1.970 ended 3 November, 1921. Entri*. during «titak ««d„_ Nov. 3, 1921.. "l.78>.08778117 ~«ni< IN BAGS OP 60 KILOS iiOHUrd (KniiiarqNtts), ror ended Nov. 3, 1921 34 893 8TOUK AT KIO ON Nov. 3, 1921 1.745 194 Stoc- ai Nic-hnr-y aud >'ort' -i» Ma <»iua and D0RIt.Gr WRKK KNDKDFOR THB CBOF T© Ilha do Vianna on Oct. 27, 1921 • • • • 40 OU ' \. . ¦'¦'.<¦ .•";'.'*"-.*¦ L¦ Afloat op Oot. 27,••• ••-••#_-• 46.203 Entries at Niotheroy pius total embarques iuclu 1921192119201921 1920 dinsr traimit Nov. Oct. 27Nov Nov. 3 Nov. 4 34 893 121.107 Ueduci : oiu -arques at Nictheroy, Porto da Ma- dama ami VÍHiin» _HÍIin_8 during the Kio 34.89348.65235.400882.834 725.431 Nicthe oy..— •„....... ²²—.— ¦ ¦ — week ended Nov. 3, 1921, 71.193 ²²²— In trari it... — STOOK IN ^KVIhKKOY AND AH'IA)AT ON Nov. 3 1921. 49.909 8TOCK IN HtaHd _nd HANDS an- TIIOSIC AT Nlt.TH-fil-OV Total Rio Including Nictheroy '31.89348.65235.400882.834 & transit and AFLOAT ON Nov 3/1921 1.795 103 725.431 4ANTO- Stook en Total 3autos 131.222157.942193.56)3.144 4 2 3.337.659 Oct. 27, 19^1 2.836.97'- Bntnei for week «n.le.l Nov, 3, 1921 152.3-5 2.989 3i6 Total Rio & Santos 166.115206.594228.9604.027.246 4.063.090 Loau._ [embarques) duriug uma nink Nov. 3. 131 222 8TOCK AT SANTOS ONNov. 3, 1921. 2.858 094 • AHIA stookonOct 27, 1921. 39 691 COFFEE SAILED. Entries during week ended Nov. 3, 1«21. 15 000 54.691 during the iweek ended 3 November, 1921, were consigned to Clearances during .ame week ...» 13.691 Stook a at Bahiaon Nov. 3, IH21. 44 000 8.00» Hti '.i.,-Hiuo-and tho following dootlnatlonoi Kahia Nov 3, 1921. 4 694 197 dododo Oct. d_ 27, 1921 4.66 \208 dodododo Nov. 4," iQjJo 2 756.931 IN BAGS OF 60 KILOS Note.—Rio stocks include Náctheroy and afloat.

PORTS «"«'SSSlí C...T «™ «ap.°™«"™IV' I «¦» 8-ATK DAT» UAHEAKPL-TBPORtS^^TO MANIFESTS OF COFFEE.

K»o 1.R00 67 142 — 2 556 ²— 71.198 985-849 UIO DE .1 AN EI RO Santo-.... 164.574 36.78522 1.225 ²²202.60613.097.346 t- During the week ended íí November, 1921.

1921/1922. 166.074 103.92722 3.781 ²²273.8J4 4.063.105 _6—SILARUS—Bremen Pinto Lopes & Co5:0 Ditto- Hauiburg McKinlay & Co4,500 19201-21-. 93.057 119.320 11.080 8.189 ²231646 3.958.272 i4" Hard, Rand & Co 500 Ditto—Palermo McKinlay & Co125 Ditto—Rotterdam Pinto & Co750 6,375

OOFFEE PRIOE CURRENT. 29—ANGO—Buenos Aires B. G. Pontes & Co...... — 1,000

29-1^ AMB ANE-Montevideo Castro Silva & Co. 50 During the week ended 3 November, 1921. 30-RE D'ITALIA-Naples Ornstein & Co1,125 Ditto—GenoaMcKinlay & Co2.000 muv' •• Ornstein & Co1,625 Oct. Oct. Oet. Nov. Nov. Nov, Ave- P-«o-E. Malagutti & Co1,217 28 29 31 1 2 3 rase Ditto— „ Cario Pareto & Co ...750 Ditto- •• Grace & Co.253 6,967 RIO—milreis 30—GUDMUNDRA-Gothemburg per 10 kilos , E. Johnston & Co ... 650 Dltto., Market N. 6 10 ks. 12.733 12.733 12.869 12^778 Gracè & Co 500 Ditto— Ä Ornstein & Co 500 - N.  12.461 12 461 12 597 12.506 Oirto", Theodor Wille & Co ... 125 Ditto—Stockholm Theodor. Wille & Cd ...' 2,750 _ N. 8...... 12.052 12 052 127788 12 097 i-ll-uÄ McKinlay & Co 1_125 Ditto— Alfred Sinner & Co ... 750 _ N.  11.644 11 644 11.780 H.689 Ditto— Ornstein 8ANTOS—milreis & Co 6?5 Ditto— Pinto Lopes & Co. ... 375 per 10 kilos. Ditto- E. Johnston & Co. f t Spot No.  15 400 15.400 15.500 — 15.450 »-tt.o— 15 500 Grace & Co. 500 Ditto-Halmstead No. Theodor Wille & Co.... 500 Spot 7 10 ks... 12.700 12.700 13 000 — 13 000 12.850 "'.' Grace & Co 500 Ditto—Gefle N. YORK, cents. Theodor Wille & Co... 1.753 per lb. Ul.lO McKinlay & Co. 1,500 Ditto— F. Soares & Co. ... 1,250 Ditto— Spot Rio No.  9 3/8 Ornetein A Co. ..; l.O^O 9 1/4 -.UIO- E. Johnston & 250 ©No. 7..... Ditto- fio. 8 7/8 8 3/4 Grace & Co. 250 Dltto— B. Dieden Spot Santos No. 4.. Ditto- & Co. . 250 Pinto A Co. 53 Dlt.tr SundswaU Theodor Wille" &" Co.'.'.'. 500 » No. 7.. Ditto— — .. E. Johnston & Co. 250 Options 'UIO_ Grace & Co 250 Ditto—Kalmar » Dec », 7.99 8 17 8 4'» 8.70 8.74 8.65! 8.45 Pard, Rand A Co. 250 > Mar » 7-84 7 94 8.20 8.33 8.33 8.30 8.15 Theodov Wille & Co... 125 Ditto—Helsingf May.... » 7.87 7.99 8.14 8 23 8.32 8.25 8.13 ora E. G. Pontes & Co ... 375 Oifdo Roberto do Couto 250 vn HAVRE —50 Kilos OI? Theodor Wille & Co.... 125 franes Ditto—Norkoepirig McKinlay & Co 250 E. Johnston Co. ... Doe A 250 157.50 147 0n|157 25 Ditto—Abo ..:.. E. G. Pontes A Co ... 125 18,453 Marf.'. I4fi.00! 145 50 155.75 May 140-50 139.50,140.03 29-DLTCA D'AOSTAr-B. Aires Ornstein & Co 1,005 —per LONDON cwt 3f.-POCONE—Antwerp Op ions : ' Grn.oe & Co. 250 shillings Ditto—Havre Ornstein & Co 6,002 Ditto— Theodor Wille & Co. 3,520 Ditto-- Dee 49/8 49/- 48/11 49(7 Bocha Paria & Co. 1.000 Mar 50/5 49/11 Ditto— Eugen Urban __ Co 1.000 49/11 50 3 njtVo- May 50/8 50/3 50/2 50/4 Grace & Co 1,000 Ditto—Hamburg Ornstein & Co2 12,774 t November 9th, 1921. WILEMAN'8 BRAZILIAN REVIEW. 1813

26—MACAPÁ—Gibraltar Ornstein & Co3,175 Ditto -Antwerp S. A. Casa Malta 500 Alfred Sinner & Co ...250 Lmio Hard, Ditto— Rand & Co 309 McKinlay & Co. 125 In F- S. Hampshire Ditto—Marseilles ri!t+^„T„ n , & Co. 250 Alfred Sinner & Co. ...250 Ditto-La8 Palmas F. S. Hampshire Bitio—uran Alfred Sinner & Co. ...375 £ Co. 125 8,691 Ditto—Genoa E. Malagutti & Co ...3,000 7,175 29-SHERIDAN—New Yorkk Leon Israel & Co 3,350 31—AEOLUS—Buenos Aires Nioac & Co2,5ü0 Seabra & Co. Ditto— McLaughlin Co. IJlllO—¦ & ...2,150 3—ERINIER—Hamburg Ornstein & Co...... 3,250 Rasanta Coffee Ltd....2,000 MoKinlay Co. Ditto- Andrade Junqueira & 1,000 Ditto— ...2,000 Ditto/ Eugen TJrban . Cia. Prado Chaves & Co 500 Ditto— 2,000 Theodor Co S. A. Casa Malta Ditto—Antwerp Wille & 1.0Q0 Ditto 1,500 Duio—' .;^ Pinto & Co 916 1 S. A. Levy 150 itto Souza Dmo— A. Prado & Co. .. 500 Ditto Qiueiroz & Co.1,000 J. Aron & Ditto- .. Sidney Cox & Co. .. 5C0 Dittt Co750 oiuo— Ä E. G. Fontes & Co 500 Naumann Gepp & Co.500 Ditto Andrade Hitto— ..:...-:.ii McKinlay & Co.» 600 & Netto 500 Ditto Hard, Ditto— .. Cia. O. Fco. Brazil 225 Rand & Co250 20,000 Ditto— A. Heymann 3 30-SIERRA Ditto—Casa Blanca E. Johnston. Co. 125 VENTANA-Bordeaux Martins & Wright & Co. 125 Ditto- .. E. G. Fontes & Co. 500 9,519 28—BELLE ISLE—B. Aires R. 31—SIERRA VENTANA—Bordeaux Rocha Faria ... 1,376 Alves Toledo & Co. 515 & Co Nioac "itto França & Co. 3 1,379 & Co. D 410 925 31—HASSEL—N. 2—GLENAFFRIC—B. Aires McKinlay & Co. ²500 Orleans Naumann Ditu Gepp & Co. 9,350 Ä... . Cia. Paul. de Export. 2-P. MAFALDA-GenoáMcKinlay 1 RIO 7,250 & Co1,000 Baccarat & Co 5,000 Ditto—l.ivorno Co500 Dm.> Ha^d Rand & Martins Wright & Co. 4,250 Ditto—Palermo Castro Silva & Co 250 1,750 Ditto J. C. Mello Ditt. & Co 3. 50 J. Aron & Co 3-SONGVAL-New Dittc 2500 York E Johnston & Co. ...- 1,500 Leon Israel & Co. ... 2.500 IMlt.o Jessouroun Ditto Irms. & C. 2,000 2-SABOR-Havre Pinto Lopes & Co 2,125 Almeida Ditto Prado & Co. 1500 Hard Rand 250 Andrade & Co- . Dittt Junqueira ... 1,500 Ditto—Ceuta F. Soares & Co. . 250 Nioac Ditto & Co 750 Ditto— V\ arna Camargo F. Soares & Oo. . 125 2,750 Ditto M. Coeiho'". v500 Ditto A. Cardia Abreu 500 Basanta Total overseas — 71,198 Ditti Coffee L*d.... 500 Whitaker Dítto Brotero „ C 500 Oerquinho Rinaldi & C SANTOS 250 42,100 31/-SONGDAL-New York R. Alves During the week Dilto Toledo & Co. 10,000 ended 3 November, 1921. Cerq. Rinaldi Ditto Ä...... & Qo 5,000 26-GUDMÜNDRA- Cia. Prado Theodor Wille & Chaves 6,663 Litto Ä"" Co.... 3 500 1'il.l.U S. A. Levy 1,000 Raphael Sampaio & C 2,000 Dittr» "" A. mito— Ä Theodor WLle & Co....500 Ditto—Boston Diebold & Co 1,000 Duio — ., Grace & Co375 Ditto S. A. Levy 7,000 Hard _»itlO— „ Sion & Co250 v; Ditto Rand & Co. ... 5.000 Ä"¦'¦'" A. Diebold Ditto— „ Hard, Rand & Oo ...250 & Co. 4,000 37,500 Ditto-- „ F. Conceição & Co3 -SOUTHERN Ditto—Stockholm S. A. Levy 875 CROSS-N. York Ajrbuckle & Coffí i_o Di tio— Cia. Prado Chavts 750 Ditto ,American Coff* Corp. 7.500 Ditto— Naumann Gepp & Co.701 S. A. Dittt Casa Malta 3,097 Ditto— Sion & Co.250 J. Ditto Aron & Co 1,000 Ditto— Martins Wright & Co.125 Grace Ditto & Co 408 Ditto— ,. Grace & Co.68 E. Struckmeyer 3 7 22,452 Dní.o— F. Conceiçaj & Co ...... 5 Ditto— Whitaker Brotero & C.1 Total S. A. O. Geral Comml. 1 overseas _ 202,584 Ditto—HelsingborgHard Rand & Co 675 —* 1 ¦>Whitakekr Brotero & C. 1 SANTOS Dittr, KTlskmnaTheodor Wille & Co...250 COAST WTSE Ditto—Norkoping Grace & Co. 125 Ditto—Helsingfors Theodor Wille Co....125 29-ITAITUBA-Bio & Graade Borges 6a!va„_ - Ditto-uefle Grace & Co125 13,118 Oo. 20 —" -PANAMÁ 3MI-APEMA-WO MARTJ-B. Aires Baccarat & Co. 200 Ni.oa 2.500 PERNAMBUCO Ditto— J. Guimar es Leitão ... 2,455 MARKET REPORT. Ditto— .. Ca. Paul de Export. 2,216 Ditto— Grace & Co 2,000 Pernambuco, mito— A. Diebold & Co 2,000. 29th October, 1921. Ditto— Cia. Prado Chaves 1,000 Ditto— Raphael Sampaio & C. 1,000 Sugar. The sugar market Ditio— Almeida Prado & Co. 1,000 has been fairlv steadv during the Ditto— Nossackk week, & Co 1,000 prices osciUating between 5$600 and 5$200 for crystals. Ditto- Martins Wright & Co. 1,000 Usinas have slightly improved owing to Ditto— Cia. Leme Ferreira ... 590 demand from Rio Grande. The Ditto- Leite Santas & Co. ... 500 steadiness of the market is dne to contraets made two months Sion & Co. 500 ago only now being shipped and in anticipation Ditto—Boston Cia. Brasil de Café... 2.030 of drop in price ¦JltlM are being hurried Sion & Co i,ooo forward. From ali accounts the crux of the Ditto— S. A. Levy i,coo sugar position here will be next month, as ali large Ditto- J. C Mello & Co 1,000 42,522 contraets have been executed and and entries are increasing daily, with no 29-SABOR—Havre S. A. Casa Picone ... 6,000 further large order in sight. UlUO—„ J. C. Mello & Co 1,500 Arrangements, Ditto- Nioac & Co 4 which at first were considered impracticable, Ditto- M. Camargo Coelho . 3 have now been completed for a combination of mills to make a ¦M

,/l •;il*: 1814- WILEMANS BRAZILIAN REVIEW November 9th, 1921.

lot of 400,000. bags of demeraras. It is also reported that the January 8th, 1921 ...... x 1 l$800 firms interested in productión of this sugar have decided to take January 29th, 1921 * 0% 1$750 it up and lnnd ít to a commission, consisting of the President ot February 5tíi, 1921 1 0% 1$700 the Associação Commercial, two millers, two commissarios and February 26th, 1921 1 0 1$650 two cane growers. The lot will consist or either demeraras or March 5th, 19211 0 1$600 crystals, and any firm requiríng eith-ír sort for genuine export March 26th, 1921 ...... 0 11% 1$600 business will be supplied by the commission at any price deemed April 2nd, 1921 ...0 11% 1$650 advisable to accept. The business will be completed once the April 30th, 1921 0 10% 2$000 May 7th, 1921 consent cf the majority of the Cane growers is obtained. 0 10% 2$200 Quotations (nominal) for unbagged are. Usinis, firsts, 7$200 Map 21st, 1921 0 11 2$100 to 7$"00; ditto, seeonds, 5$400 to 6$30u, crystals, 5$20u to May 28th, 1921 0 11 2$000 5$400; demeraras, 4$; whites, 5$200 to 5$400; somenos, 4$200 June 4th, 1921 0 10 1$900 June llth, 19210 11 1$900 'Xte': to 4$400; mascavado, none; bruto secco, 2$600 to 3$; bruto melhdo and retame, none. June 18th, 1921 0 11 2$000 Entries during the week from 21st to 26th were 93,475 bags, June 25th, 1921 0 11 2$100 r'i'v 9nd, Of whirh 18.841 bags came by water, and rest by rail.. 1921 0 11 2$250 July 9th, 1921 0 11 2$300 Shinments during same period were: Para 2,590 bags, Mara- July nhão 940 b*sis. Ceará 1.425 bags. Rio 700 bags, Santos 39,492 16th, 1921 0 10% 2$300 July b^srs. Rio Gra-de do Sul 4,326 bags, Porto Alegre 8,100 bags, 23rd, 1921 0 11 2$500 July Partas 2.6-50 b^ss, Paranaguá 4,000 bags, Areia Branca 465 bags, 30th, 1921 0 11% 2$200 August Montevideo 8 400 bags, Buenos Aires 4.500 bags, Madeira 4,800 6th 1921 011% 2$200 August 20th, b*gs. Lisbon 9.820 bags. Funchal 9H0 bigs, Leixões 7,000 bags, 1921 1 0% 2$400 August 27th, Hambura; 1,124 bags, and sundries 295 bags. 1921 1 0% 2$600 September lOth, 1921 1 0% 2$400 (MfCFi. Movement during the week has been very and quiet, September 17th, 1921 1 0% 2$500 with Liveroool market acci1lating, buyers have not been busy, September 24th, 1921 1 1 2$650 but are hangmg bick until the market steadies. About 200 October lst, 1921 1 1 2 bales of íirsts were sold to local mills at 30$ otherwise no busi- $600 ; October 8th. 1921 ...... 1 1% 2$650 i*Mk& was do~e. Mediums are offering at .22$ nominal, but October 22nd, 1921 1 2 2$800 selVrs are holding out for more. Siridos sellers are asking 45$, October 29th, 1921 1 2% 2$800 with the nominal rn^ce 35$, buyers showing no interest. November 6th, 1921 ...... 1 2% 2$7O0 Entries from 21st to 26th were 4,468 bales. Shipments dur- ing same period were Bahia 821 pressed bales a" d 397 soft bales, Saltos 2^8 nvo«8ed bales, Pelotas 164 pressed bales >and New York 528 pressed bales.... COTTON Cr/fm, Market durins; the week weakened off somewhat, buvers cffering 13$ to 13$500 for new a^d sellers demandiug 14$; Raw Cotton, Clearances overseas of raw cotton at the no business was done. Small lots of old crop sold at 14$500 to ports of Rio a^d Santos during the week ended 3 Nov, 1921, in tons 15$000, Entries amounted 2,873 to bags and shipments have of 1,000 kilos, were as follows:— been: New York 480 bags, Rio 500 bags, Porto Alegre 600 bags, From Santos:—Oct. 29, Sabor, Havre; Sion & Co, (1,572 Areia Branca 370 bags, Ceara 525 bags, Maranhão 500 bags, bales) 172 tons; M. Bloch. L^peltier & Co, (852 bales) 90 tons; Para 1,572 bags, Antwerp 144 bags, and Hamburg 100 bags. Whitaker Brotero & Co, (896 bales), lll tons; Theodor Wille & Cereais. Price for maize has again risen, being now .11$ Co. (520 bales) 88 tons; Liverpool, N. Barros & Co. (376 bales) Entries were small, as also were sales, with market firm; entries 117 tons; total Santos (4,216 bales) 578 tons, valued at £35,731. totalled 2,066 bags and a shipment of 1.150 bags was made to —The Pernambuco market closed on 3 Nov. firm. with Rio. Farinha, pi ice unchanged at 7$ to 7$500, with sellers ask- first sorts quoted at 30$ buyers, no sellers, against 30$ buyers, ing 8$ to 8$500 bagged, no business was do^e during the week; no sellers, on 26 October, and 33$ buyers, sellers re«úcd

Entries during the week ended 3 Nov. amounted to 5,000 RUBBER bags, against 6,600 bags for the previous week and 2,300 bags for the corresconding week last year. Fór the crop to date, entries amounted 42,500 bags, as Cable Quotations tor Hard Fine, London per lb. and Para per kilo to LondonPar» against 8,600 bags for the same period last crop. '¦- ¦.d'' The movement for the month of October was as follows:— June 5th, 1920 2 1%2$700 Stock on 30th September, 1921 6,000 July 31st. 1920 1 10%2$600 Entries during the month of October 29,600 August 7tb. 1920 1 10%2.

EXPORTS OF RUBBER FROM MANÁOS, PARA, ITACOATIARA AND IQUITOS, SEVEN MONTHS, JANUARY-JULY, 1921. BY ORIGIN AND QUALITY—IN TONS ÒF 1,000 KILCS. TO EUROPETO THE UNITED STATESGRAND TOTAL Total í . Total Aug. & Total Total Aug. Sept. 7 mos. 9 mos. Aug. From Manáos:— g^ f ^ 9 mosgept 7 mog 9 mQS Fine 174 339 831 1,344 166 143 2,199 2,508 57.5 Médium 822 3,030 3,852 6 15 84 105 22 6 311 339 49 395 444 6.Ô Coarse 20 " 5 130 155 14 49 445 508 88 575 663 9.9 Caucho 87 97 485 669 162 56 856 1,074 402 1,341 1,743 26.0 Total~~ 287 456 1,530 2,273" 364 254 3,811 From Para:— 4,429 1,361 5,341 6,702 100.0 Fino 92 215 1,288 1,595 €6 82 1,873 2,011 445 3,161 3,606 63.2 Médium 2 5 85 92 7 5 206 218 19 291 310 5.4 C oarse 1 ¦ 3 121 125 39 35 609 683 78 730 808 14.1 Caucho, -79 19 504 603 15 371 386 113 875 988 ' 17.3 Total ' "5,057" "5,712" "ioo.õ .:: 174 242 1,998 2,414 102 137 3,059 3,298 From Itacoatiara:- 655 Fine 24 24 24f Médium 24 60.0 Coarse 10 10 "'²²101025.0 Caucho 6 6 - J—a15.0 ~4Ò Total1~. 40 ~ ¦ ². 4040100.0 From Iquitos:- Fi"e 11— 39 50 21 4669348511954.2 Médium 1 1 121.8 Coarse 6 6 1 104.5 Caucho 1 65 66 9 21157287 39.5 Total 111 123 32 58 97 51 169 220 100.0 Grand Total 473 698 3,679 4,850 473 423 6,928 7,824 2,067 10,607 12,674

TOTAL, NINE MONTHS JANUARY-SEPTEMBER, 1921 TO EUROPE __TO THE UNITED STATES From Braz. From % From Braz. From Grand ports Iquitos Total ports Iquitos Total Total Fme % % -.. 2,963 50 3,013. 62.1 4,519 69 4,588 Médium 58.6 7,601 60.0 197 198 4.1 557 3 560 Coarse 7.2 758 6.0 290 293 61 1,191 4 1,195 15.3 1,491 11.7 Caucho'.'. 1,277 66 1,343 27.7 1,460 21 1,481 18.9 2,824 22.3 Total "ioo.õ 4,727 123 4,85o 100.0 7,727 97 7,824 100.0 12,674 EXPORTS OF RUBBER FROM PARA ONLY—BY SHIPPERS_ MIME «"OMTHS JANUARY TO SEPTEMBER, 1921. " - TO EUROPE To THE UNITED STATES — GRAND TOTAL— Total Total Aug. & Total Total Aug. Sept. 9 mos. Aug. Sent. 9 mosj, Sept. 7 mos. 9 mos. Berringer & Co. 101 86 673 22 25 1,144 234 1,583 1,817 31.8 Jos. Origet 387 387 387 6.8 J. Marques •• 159 159 159 2.8 General Rnrber Co. of Brazil 89 68 870 68 891 959 16.8 Cb. mie A Koury Ltd 94 30 124 124 2.2 Adelbert H. Alden, Ltd 52 52 52 09 _u .rez Filho A Co 06 20 454 20 490 510 9.0 Stowell A Co 58 58 58 1.0 Bitar Irmãos 73 87 268 52 160 160 320 5.6 F. Chamie 47 44 223 91 132 223 3.8 Small shippers , 69 578 13 525 82 1.021 1,103 19.3 Total " 174 242 2,414 102 137 3,298 655 5,057 5,712" 100.0

Exports cf Rubber from Para, Manáos, Itacoatiara ard l-^uifos, Receipts of Rubber and Caucho at Para, nine months, 1921. Nine Months, January to Septembar, in Tons of 1,000 kilos. Fine Médium Coarse Cauchc Total Aug.& Sept 9 mos. To Europe:— 1920 6,065 4545671,0118,097 TonsTons 0/ /o 1921 3,013 1982961,3434,850 To the United States:— Up-river grades 1,868 9,404 65.1 1920'.. 6,410 7993,2034.46414.878 Islard grades 338 1,218 8.4 1221 4,588 5601,1951,4817,824 Caucho grades 744 3,823 26.5 Total Exports:— 1920 12,473 1,2533,7705,47522,975 Total 2,950 14,445 100.0 1921. 7,601 7581,4912,82412,674 ;*:

á* . 1816 WIL.EMAN'8 BRAZILIAN REVIEW Nóvember 9th, 1921.

—The Rio Market closed on 3 Nóvember with prices quoted —The movement at Pernambuco for the week ended 3 Nov.,. as follows, per 15 kilos:— in bags of 60 kilos, was as follows:— 3 Nov, 1921 26 Oct, 1921 3 Nov, 192o Stocks on 26th Oetober, 1921 134,000-' 6'ertões 25$000-26$000 25$000-26$000 31$000-31$500 Entries during the week 136,100 -' ';.7-f ¦•'¦: '• First sorts .... 24$000-25$000 24$000-25$000 29$5O0-30$0ÒÒ 7".^;; V*j  Mediums 23$000-24$000 23$000-24$000 28$00O-28$,500 Available'..'¦ 270,100'= Paulista nominalnominal29$5O0-3O$00O Deliveries during the same week 147,100 The movement at Rio de Janeiro for the week ended 3rd ííovember, in bales, was as follows:— Stock on 3rd Nóvember, 1921,. 123,000 Stock on 26th October, 1921 20,181 Ditto, 3th Nóvember, 1920 326,000 Entries during the week1,000 For the crop to 3 Nóvember, entries amòunted to 795,50o- * Available 21,181 bags. as against 557,200 bags for the same period last crop. Deliveries during the same week 2,932 The movement at Pernambuco during the month of October was as follows:— Stock on 3rd Nóvember, 1921 18,249 Stock on 30th September, 192006,000 Entries during the month of October 558,600" The movement for the month of Oetober was as follows:— Available ...;,./ 624,600 Deliveries during month Stock on 30th September ,1921 22,667 the of October 526,600 Entries during the month of Oetober 14,060 Stock on 31 st October, 1921 ....;98,000' Ditto, Available‡ 36,727 31st October, 1920 361,600* Deliveries during the month of Oetober 17,248 —The Rio de Janeiro market closed on3rd Nóvember weak, with some enquiry for export Stock on 31st Oetober, 1921 19,479 and prices quoted as follows, per kilo:—White crystals, 1920 28,307 $440 to $500; white, 3rd sorts, nominalp Ditto, 31st Oetober, 2nd jact, $360 to $400; demeraras, nominal; mascavinho, $320' to mascavo, superior, The S. Paulo market closed on 3 Nóvember, with raw spot $360; nominal; against nominal; nominal; to again nominal, as against nominal on 3 Nov., 1920. $360 $400; $320 to $360; and nominal respectively on the 26th October. S. Panlo common options were quoted on same date

.. —The New York Market closed cn 3rd Nóvember at tbe Stock on 31st October, 1921  156.493 Ditto, 31st following prices, per lb.:— October, 1920 ' 229 5357 3Nov,'21 _6 0ct,'21 3 Nov,'20 —The American futures, January 18.48c18 58c20.'75c S. Paulo Market closed on 3rd Nóvember steady with Ditto, May 18.00c17.97c20.30c spot crystals quoted as follows, per 60 kilos:—S. Paulo and' Cam- pos, 33$500; somenos, good, 31$; mascavo, 22$500; other sorts, nominal. Crystal options closed weak at following prices per 60 kilos r SUGAR Novpmbor, 32$500 buvers and 32$700 sellers; December, 33$100 ¦ •¦¦.,vn and 33$500; Jan., 33$700 and 34$000; Feb., 34$300 and34$500; Clearances overseas of Sugar at the ports of Ri oand SantolS March, 34$800 and 35$000; April, 36$000 sellers only. ¦durirg the week ended 3 Nov., in bags of 60 kilos, were as follows: From Rio.—Oct. 24, Edith M. Prior, , José Con- stante & Co, 1,383 bags; Oct. 29, Inhambarre, Montevideo, Herm. Exports of Sugar at the ports of Rio and Santos, ninemonths_ Rarcellos & Co, 4,500 bags; Buenos Aires, Herm. Barcellos & January to September, 1921, in bags of 60 kios: — Co> 500 bags; Barb. Albuquerque & Co, 500 bags; Montevideo, Port u( Ongiii 1 Magalhães & Co, 500 bags; Alberto Reeve, 10,000 bags • total Per shippers: Rio Santos-Total Rio, 17,383 bags, valued at £19,156. Bags BagsBags 1—The Pernambuco Market closed on 3 Nov. steady at foi- Hermauo Barcellos & Co'.. 91,750 ²91.750 • lowing prices, per 15 kilos:—Superior, 7$700 to 8$000; crystals, Magalhães & Co.'.' 80,151 ²80,151 5$300 to 5$400; third sort. 5$500; demeraras, 3$900; somenos,' Barbosa Albuquercvue & Co 32,916 ²32 1 ' 916 4$500 to 4$700; brutos seccos, 2$60O to 3$; against superior, Américo Ney & Co ²15.000 !6$8

Albuquerque Mendes & Co1,440 . ²... 1,440 " J. R. da Silva Fontes1,000 ²1,000 BEANS •Louis Boher & Co. ...j700 ²700 ., ;Eugen Urban & Co500 . — .;500 There were no clearances overseas of Beans at the of Ornstein !-- ports & Co350 ²s 350 Rio and Santos during the week ended 3 November. Fernandes Moreira & Co300 -r-XXX300 Mel. Tavares de ²200 Mello200 Exports of Beans at the" ports of Rio and Santos during the Hardman & Co. 200 ²200 nine months, January to September, 1921, in bags of 60 kilos:— Herman Stoltz & Co145 ²145 Port of origin Fernando Mourão50 ²50 Per shippers: Ri0 SantosTota] Pereira Araújo & Co50 ²50 BagsBags , Bag» J. Bento Pinto & Co20 ²20 W. Â. CWer 620 620 Lebrão & Co12 ²12 Eugen Urban & Co 330 ²380 Ferraz Irmão & Co10 ²10 Câmara Portugueza de Commercio.... 242 242 Miguel Demont3 ²8 Castro Silva & Co 220 ²220 ¦íF. Mattarazzo & Co 3,0003,000 A. Rebello & Co 200 ²200 Miguel Pierri Sobr__ 168168 Tronbcoso Hermanos 19001900 ..Arthur Barreiros 100100 Santiago Roix Linares 400^400 Theodor Wille & Co...... JJ,__ 2020 José Constante & Co 200200 Cerquinho Rinaldi & Co. 2020 Lucas Simões & Co 100100 Canteiro Carvalho & Co 1111 Sundry ogg 1451,133 Total, 9 months, 1921 1,662 2,6004,262 Total, 9 months, 1921 245,540 3,464249,004 Bags BagsBags Per Destination—Spain 200 2,300'3002,500300 Bags BagsBa cs Lisbon — Per month: January4,128 ²4,128 Las Palmas 220 220"" February ¦_6100 1216,221 St. Vincent 242 242 March ^qq ²300 Hamburg i>000 B1)(m APril 9,050 409,090 Ma? 2,500 ²2,500 Total, 9 months, 1921 1,662 2,6004,262 June 23,619 ²23,619 F.O.B. Value, 9 months, 1921 £1,470 1,9883,458 vJuly 27 325 11127,436 A"g™t102,458 168102,626 September 70 060 3,02473,084 RfCB r.-Ç. Total, 9 months. ^1921 245,540 3,464249,004 Clearances overseas of Rice at the ports of Rio and Santos dnrí-g the week ended 3 November, were as follows, in bags of 60 kilos:— Port: of Origin. From Rio:—Oct. 27, Edith M. Prior, Cape Verde, José Con- Destinationy^jn SantosTntaI stante & Co, 166 bags; Oct. 30, Pocone, Leixões, Gomes K. Al- Bags BagsBae:s meida, 50 bags; total Rio, 216 bags, valued at £256. Montevideo'139.351 ²139,351 Exoorts Buenos Aires56.500 3,00059.500 of Ric© from the ports of Rio and Santos during the Xiondòn 15-982 ²15,982 nine months, January to September, 1921, in bags of 60 kilos:— LlRbon 10,962 ²10,962 Liverpool g334 ²8,334 Fort of Origin. New York 4,000 ²4,000 Per shippers:Rj0 Santos Total Madeira 2 Bags Bags /L*ixÕ€s 667 1112,778 Bag» ‡2,030 ²2,030 Eúgen Urban & Co5,367 12,806 18,173 Rosário 2.000 ²2,000 Herm. S+oltz & Co1.000 3,556 4.556 Genoa1.4:36 1681,604 Castro Silva & Co1,000 1,000 St. Vincent g33 ²833 Alfred Sinner & Co1,000 1,000 Bisan500 ²500 José Constante & Co209 500 709 Hamburg345 165£10 Pereira Pinto & Co100 100 Antwerp 250 ²2S0 Câmara Portugueza de Commercio...34 34 Wasa jyg ²175 Ferraz Irmão & Co10 10 HelsingforsI75 ²175 Pereira Carvalho & Co.15 15 Naples...,;.... 2020 Fernandes Moreira & Co10 10 A. Tromel & Co'._ 65.885 65,885 Total, 9 months. 1921 245,540 3,464249,004 The Fine Taste Coffee Export Corp,_ 63,686 63,686 Schmidt, Trost & Co 26,195 26,195 F. S. Hampshire & Co_ £ 6,800 6,800 Nossack & Co.'_. F.O.B. Value—January 7,666 ²7,666 6,750 6,750 February1^273 Sion & Co!...... _ 5,500 5,500 22411,497 Neri March & Co__ 5,000 5,000 321 ²621 Theodor APril Wille & CoJJ__ 3,298 3,298 W17,865 7917,944 F. Ma.Y Mattarazzo & Co. 3,000 3,000 4,472 ²4,472 Lima June Nogueira & Co__ 2,400 2,400 39,751 ²39,751 Tavares July & Co 2,180 2,180 39,976 16240,138 Honing August & Roorda 2,000 2,000 87,294 14387,437 Cia. Brasileira September77 de Café __ 1,471 1,471 206 3,33280,538 João Jorge Figueiredo & Co 1,400 1,400 S. A. Casa Malta.., Total, 9 months, 1921 612 G12 £286,124 3,940 290,064 Marques Vallo & Co_ 500 ." .500 _M •.f Novomber%hr1921. 1818 1 WILEMAN'8 8RAZILIAN REVIEW.

Rio Santos Total Port of Origin U0 Destination RioSantosTotal Damazio & Pires 150 9,C00—V9,000 Trinks & Co.. . 138 138 Rotterdom Çustavo \15 —.450450- jjírf liur : Barreiros 135 Gonoa...... 120 120 Leixões .:... 355²£?& Zerrenner Bullow A Co. ' 2 592'—592; R,unes & Bark 2 ..,: St. Vincent 300²300' Raphael Sampaio & Co. . 1 ;;; i Lisbon Sundry 37,855 37,855 Total, 9 months, 1921 10,24745010,697 ...... 1957,071 Total, 9 months, 1921 8,745 252,231 260,976 F.O.B. Value, 9 months, 1921 £6,876.... £ £ 10,998 Per Month—January 10,998 COCOA 623 February 623 500 at the of Rio and Bahia Mareh 500 Clearances overseas of Cocoa ports week November, in bags of 60 kilos, were ás April 15 1,520 1,535 during the ended 3 May 209 21.001 21210 follows:— Onnge River, New York, 938 bags;. June 1,644 22.353 23,997 From Bahia—Oct. 26, bags; Hamburg, 600 bags;. July 3.351 68,641 71.992 Oct. 28, Pceldük, Rotterdam, 1,000 178 August 3,516 82,662 86 total Bahia, 2,538 bags, valued at £6,061. (September  10 43,933 43,943 Bahia Cocoa Crop. The 1920-21 crop, (May, 1920, to April, 1,004.534 bags of 60 kilos, Total, 9 months, 1921 8,745 252.231 260.976 1921) was the record, and amóunted to distributed as fVlows:—Tlheos 401.049 bags, Itabuna 215,950 bag% Port of origin Rio de Contas 100,236 bags, Cannavieiras 83,749 bags, Belmont 64,246 bags, Santarém 28,557 bags, Camamu Destination Rio SantosTotal 82.354 bags, Jequié k.1_ Seguro 2.802 PpffR 9,010 bags, Una 7,938 bags, Prodo 2,989 bags, Porto 239.249 bags, Taperoa 2 756 fc*_;., Mucury 2,226 bags, Marahu 1,826 bags Hamburg 6.367 232 882 3,100 anel other districts 2,896 bags. A ntwerp 1,000 2.100 1,750 Valparaiso 500 1,250 500 1,000 Wor!d's Cocoa Crop. The 1920 crop amóunted to 393,709" Ta1 ç. chua.no 500 910 126.600 tons were by the Gold. Coast, Lisbon 209 701 tons, of which produced 135 Brazil, 41,807 tons by Equador, 30,000 tons by Leixões 135 52,610 tons by 34 tons Trinidad, 20.000 ton? by , 19,245- St. Vincent 34 Lagos, 28.446 by 4,564 by Venezuela, and 60,000 tons by Buenos Aires 4,564 tons by San Thomé, 15,000 tons Rotterdam • 5,500 5,500 other countries. "\Madeira 3,684 3,684 The world's consumption of cocoa in 1920 amóunted to 490,895- for 145,000 tons, Trondjen 500 500 tons, of which the United States alone accounted France for 50,000. tons, Ger- Bergen 500 500 the United Kingdom for 51,454 tons, tons, Denmark 28,800 Montevideo 50 50 many for 43 367 tons, Belgium fór 36895 tons, Holland 23,115 tons and other countries for 92,264 tons. Total, 9 months, 1921 ..- 8,745 252,231 260,976 £ £ MEAT 17,179 F.O.B. Value in Sterling—January 17,179 871 There were no clearances overseas of Frozen or Chilled Meat, February 871 724 Pork or Offal during the week ended 3 November. Mareh 724 Simdrv Cleara-cos.—Frcm Rio: Oct. 26. (202 barreis) 56 A 28 2,859 2,887 pril tons salted tripé to Hamburg. bv the Brazilian Meat Co., per s.s. May 356 35,786 36,142 Silarus. From Santos: Oct. 29, Sabor, Liverpool, (60 cases) 20 June‡ 2,187 .22,353 24,540 tons salted shipped by Continental Products Co.; Nov. 1, Ju ly• • 3,150 64,523 67,673 pork. 70.149 Almnuzora, London (46 cases) 15 tons, salted pork, shipped by Au gust• • ¦ • 2,862 67,287 September 12 52,148 52,160 Continental Products Co.T-. Total, 9 months, 1921 £8,595 263,730 272,325 1 LARD T;: ¦-<•——*^^^^ MP1AL Clearances overseas of Lard at the ports of Rio. and Santos MANDIOCA dun'"ff the week ended 3 November were as follows-, in tons of were no clearances overseas of Mandioca Meai at the There 1,000 kilos:— of Rio and Santos during the week ended 3 November. ports From Rio de Janeiro: Oct. 24, Edith M. Prior, Cape Verde, Jo-é Constante A Co. cases) 5 tons; Oct. 30, Ré d'Italia, •¦Experts of Mandioca Meai at the ports of Rio and Santos, (135 Ge-oa, Eoaminondas Barp.llos. (1.0H0 cases) 72 tons; total Rior nine month*, January to September, 1921, in bags of 50 kilos:— (1,135 cases) 77 tons, valued at £4,899. Per shippers: From Oct. 28, Ré d'Italia, Genoa.. Continental Pro- RioSantosTotal Santos: duets Co, cases) 71 tons, valued at BagsBagsBags (1,000 £4,517.V. Durish & Co. 9,000•'-9,000 Câmara Portugueza de Commercio ... 592²592 'Xisto HIDES Martins U.300T-300 Hides at the ports Castro Silva & Co. 255: :¦_«-y255 Clearances overseas of Dry and Salted ²1C0 were a» Ferinandes Moreira & Co 100: of Rio and Santos during the week ended 3 November, ' Sundry ..:••• -^'4^0H follows, in tons of 1,000 kilos:—- From Rio: Oct. 30, Ré d'Italia, Genoa, S. A. Martinelli, Irm. & Qo, 'Total, 9 months, 1921 10,247 450 10,697 (1,000 dry) 10 tons; Nov, 2., Sabor,. Havre, Oliveira

_* ¦<¦¦¦¦„

\f.:..r if,.,. •£*: .'¦ :s0<- November 9th, 1921. WILEMÀN'8 (BRAZILIAN RBVIB\f 1819

salted) 180 tons; <6,00Ó total Rio, (6,000 salted and 1,000 dry) Outports report further reduction in rates, notably at Per- 190 tons, valued at £6,497. nambuco by both the Royal Mail and Harrison Line. A steamer Sundry clear ar ces: From Babia: Oct. 26, Orange River, New is reported done for Pernambuco-London, 5,000 tons at 22s Cd. York, bales) 25 tons (127 • sheep skins and (70 bales) H tons skins. feoat Royal Mail. Araguaya, left Santos 2 Nov. for Plate; Andes, due Pernambuco 11 Nov. outwards; Arlanza, _n river1 Southamp- ''A ton 5 Nov. outwards; Almanzora, left ^ornambuco 6, Nov. for MANGANESE Madeira; Dano, left Rio 4 Nov. for Liverpool; Deseado, left Rio 8 Nov. for Plate; High^nd Loch, left London 3 Nov. outwards; Clearances overseas of Manganese Ore at the port of Rio de Orçoma, left Liverpool 3 Nov. outwards; Orcana, voyage oaneelted; Janeiro during the week ended in 3 Nov., tons of 1,000 kilos, Orita, leaves Liverpool 22 Dec. outwards; Somme, left Hull 2 were as follows:—., Nov. direct for Rio Grande; Severn, leaves Swansea 22 Nov. for From Rio:—Oct. 26, Headcliffe, Rotterdam, A. Thun & Co., Brazil; &ambre, leaves London 1 D.c. for Lisbon, outwards; --.600 tons, valued at £14,700. Silarus, left Bahia 5 Nov. for Pernambuco and Islands; Sabor, left Bahia 6 Nov. for Islands, etc. —Lamport and Holt.—Vestris, arrived at New York 6 Nov.; Vauban, left New York 27 Oct., due Rio 11 Nov.; Vasari, left TOBACCO Buenos Aires 8 Nov. for New York, due Rio 12 Nov.; Euclid, arrived Rio 9 Nov. for New Orleans; Holbein, from Liverpool, Clearances overseas of Tobacco at the» ports of Rio. Santos, due Rio 11 Nov.; Laplace, from London, and Bahia during the week ended 3 Nov., were follows, in due Rio 11 Nov.; Ros- as well, left Buenos Aiies ions of 1,000 kfos:— 10 Nov. for New York, due Rio 16 Nov.; Herschel, leaves Montevideo From Bahia.—Oct. 27, 13 Nov. for Liverpool, due Gaasterland, Buenos Aires, (1,650 Rio 17 Nov.; bales), 112 Bronte, leaves Rio 25 Nov. for Victoria and' New tons valued at £5,821. Orleans. —Prince Line (Houlder Bros. & Co., Agents)—Glenaffric, at River Plate; Rhodesian CLEARANCES OF SUNDRY PRODUCE. Transport, loads 9 Nov. for New Or- leans and Galveston; Glenlyon, loads 15 Nov. for New York; Bananas from Santos in bunches:—Oct. Panamá 27, Maru, Tudor Prince, loads 23. Nov. for New Buenos Aires, Orleans; Glenspean, loading 14,255; Oct. 29, Belle Isle, Buenos Aires, 'total10,414; in New York. Montevideo, 5,022; Nov. 1, Ango, Buenos Aires, 33,422; for —Pacific Argentine Brazil Line Bros. week, 63,113; total 1 Jan. to 3 Nov, 1921, (Houlder & Co, Agents) 1,923,355 bunches, —West Notus, expected Rio 30 Nov.; _all the Plate. Pallas, en route for San for Francisco, Cal. Sota & Aznar Line (Houlder Bros. & Co, Agents.)—Àrinda SHIPPING Mendi, loads for Antwerp, Rotterdam and Hamburg, 22 Nov.; Atxeri Me-di, left Pernambuco 5 Nov. for Europe; Alu Mendi, leaves Antwerp outwards 10 Nov. The Freight Market shows little change. Owners continue Houlder Bros. Co.—American to lose money on every ton of cargo they carry. The limit would & Transport, at Rio Grande. —Lage Brothers.—Mississippi seem to have been reached, however, at the Plate, where as low Shipping Co.: Saucon, loading at Bahia Blanca; Carplaka, loading Santos for Galveston and .as 8s. was offered. Agents would not look at it and preferred New Cileans, ca'ilng Rio to send the boats home in ballast, where they will lie up for a .nd Victoria; Salaam, load ng Taranani New Orleans;, calling at few months. Some eighteen months ago one agent in this city Rio and Victoria; Salaam^ loading at Parangua for Plate; George Pierce, «ynically remarl.ed that his company was'not out to make money dischargir-g at Santos; Lor- raine Cross, leaves New for a while, but now admits that they did not expect the huge Orleans 12 Nov. for Brazil and Plate. Mr. Luiz Campos.—Johnson Lihe: Josses sustained of late. The only ships that can be" run at a Kronp. Margareta, due Rio 30 Nov. from Gothemburg; Suécia, profit are German, and this on account of the' CaptahVs salary due Rio 1 Dec. from Gothemburg; San Francisco, leaves Gothemburg end for being 2.000 cdd marks per month, with the crew in Nov. paid propor- Brazil and Plate; Pacific, erd Dec. ditto; tion. When this is compared with that of ships of any other Gudmundra, left Bahia 4 Nov. for Sweden and Finland; Lima, went notionality, the difference of cost of running is enormous. aground at Magal- lens Sund, now refleated and on way to Punta Arenas; Kronp. Anyhow, enterprising owners see clearly that a freight war is Gustaf Adolf, loads Rio early Dec. for Sweden and Finland. not far off, and—Dame Rumour has it—they to reduee —S. propose O. Stray & Co.—-Songwand, loads for New and rates by 5s per ton to Europe shortly and to repeat it should York Boston end Nov.; Songvaar due Rio from U.S.A. 28 Nov.; Rio moro fight be shown. One thing the British shareholder loves Grande, loading New York for Brazil and Plate. as much as a dividend is the knowledge that his company is —Mr. Fredrik Englehart.—Cometa, loads for Europe mid fighting for business and we very much doubt if any murmur Nov.; Rio de Janeiro, left Rio 8 Nov. for Plate; Bra-Kar, due will arise should every British shipping company show loss pro- Rio from Europe 22 Nov. vided they give competitors a run for their money. The last —Royal Lloyd Belge.—Bolivier, at Rio Grande, to Plate-, freight war was carried on without the huge reserves at proceeds present Indier, en route from Maceió to Plate; Macedonier, outward held-by most British companies and they wòn hands down. There bound; Australier, leaves Plate Nov, is no reason to doubt that they will 15 for Santos, Rio and come out lop this time. It Antwerp. is certainly good policy to get the war over if has to come; got —Wilson Sons & Co.—Hubert left Rio 9 Nov. for New York the Shipping Board may be able to smooth a hundred million, ; Hesperides, due Rio mid Nov. from Montreal. dollars loss over one way or another, but as things are going their losses this year will be at least five times that amount. AVe wonder what it costs to operate the two steamers, Southern Cross and American Legion ? Apart from the interest on their fabulous IMPRENSA INGLEZÀ cost of construetion, we should say they are run at a loss of from -NCLISi. PSINTEBS anything up to 25,000 dollars each round trip! The question is Ali Kinds of Book and Job Printing and Binding. how long will the American public stand it? The Osaly Manufaturers of Loose Leaf Ledgers in Brazil. Rates at both Rio and Santos are unchanged, but by no Catalogues en Application means firm. Coffee now moving is to the United States in fair RUA CAMERINO, 61 quantities and probably will continue to do so for some time. Caixa Postal (P. O. Box) 809 — Telephone For Europe parcels.are small, but the variety large. Meat ship- Norte 1966 rio ments are expected to begin this month or next. de Janeiro 1820 WILEMAN'8 UHAZ1LIAN HEVtEW November. 9th, 192L

ISTRAVS SOUTH AMERICA LINE. _: i Regular service of steamers atid-motorships between ü. S. A. Brazil, River Plate and vice-versa.

For cargo and further particulars apply to:- S. O. STRAY & CO. RUA SÃO PEDRO. 9 General Agents for Brazil RIO DE JANEIRO "STRAYLINE" TfUPHQNE NOTE 6178 CA1L8 AIOS:

VESSELS BUNKERED AT THE PORT OF RIO DE JANEIRO DURING THE MONTH OF SEPTEMBER, 1921.

Vessels bnnkered——— Declared price per ton - '.:;¦'¦•Shipping Companies—Local Agent. No. No. Tons Tons Shill. Dois. —-Currency- Coal Oil Coal Oil Coal Oil Coal Oil \ 768 67 98$480. \ Charltcn Mc. Allum & Co.—The Rio Flour Mills & Granados... — Rio -Flour. Mills Granaries... 1—V 1,000 65 96$O0O rVWcodíield Shipping Co. Ltd.—Thé ¦ r: United States Shipping Board—Wm. Lowry & Co. :—. , 2 414 8.1 65$0OO 99$440 Comp. Navegação Lloyd Brasileiro—Ditto - 2,240 68 T.-Í .. Steamslrip Co—Chás W. GP.bert— 1 556 453 71 25.0 ÍO5ítÍ0O0 2oa$o;)0 ' ;:;Trac:y - Chavmore S.S. Co.—Anglo Mexican Petroleum Co. — 225 10.6 84$660 Société Générale de Transportes Maritimes—D'Orey & Co...... — 2,235 66 97$086 W. A. Souter & Co.—Houlder Brothers & Co.— ²1 157 20.8 166$000 Skogland Linje—Ditto t 1 400 . 70 103$000 , The Royal Mail Steam Packet Co,—Ditto 40 XrV- 6,532 152 223 $592 Southern Whaüng Séaliüg Co., Ltd.—Brazilian Coal Co. 2 210 76 1128500 Chargeurs Reunis—G. Coatalem 3 ². 1,543 43 63$095 .La Veioce—Itália America 1 ²400 78 114$400 „ Navjgazione Generale Italiana—Itália America .. 1 ²258 79 116$300 Lamport & Holt. Ltd.—Ditto 2 . ²- 617 70 103$471 r..Lloyd Sabaudo—G. Tomaselli & Co 1 ²193 51 75$500 .Transportes Marítimos do Estado— José Constante & & -²150 71 105$000 ,: —Wilson Sons & C... ²4 — 1,846 20.8 166$740 :,. Time^ Shipping Co. Ltd.—Wilson, Sons & Co 1 350 69 102$000 v Societa Triestina di Navegazkrie Consulich—Martinelli —...... 2 417 78 115$200 , Royal Holland Lloyd—S. A. Martinelli 1 60 1,050 75 9.3 llf$roo 75 $000 Sociedade Anonyma Lloyd Nacional—Martinelli 1 361 82 120$000 Lloyd Real Relge S. A.—Lloyd Real Belga 2 1,453 63 92$220 J. F. Swan W. Wood—Gueretls Ango-Brazilian Coaling Co 1 130 85 124$530 Sundry—Expresso Federal ² 1 1 000 1,684 122 59.8 18O$00O 477$44Q

Total 45 15 20,873 5,829 Total per ton per ship and price per ton, September, 1921 1 1 464 388 76.2 22.1 112$229 176$406 Ditto, August, 1921 •• 1 1 428 615 82.3 26.3 125$354 222$ 310 Ditto, July, 1921 ‡ 1 1 489 444 78.5 23.8 132$771 226$885 Ditto, June, 1921 • 1 1 704.0 920.7 97.1 27.6 1508290 237 $.873 Ditto, May, 1921• 1 1 455 0 507.9 94.8 31.5 137$783 236$211 Ditto, April, 1921." 1 1 419.0 694.9 102.5 39.6 14 6. $121 202$434 Ditto, March, 1921 1 1 393.4 812.0 114.4 39.1 146$761 263 $017 Ditto, February, 1921 1 1 434.9 532.6 131.8 47.2 163$565 310 $067 Ditto, January, 1921 1 1 485.2 629.6 131.9 49.4 164$760 334$713 Ditto, December, 1920 1 1 411.5 616.3 154.1 51.2 178$687 347$176 Ditto, November, 1920 1 452.9 189.6 197$723 Ditto, October, 1920 1 397.4 174.1 173$614 Ditto, September, 1920 ] 394.5 204.1 198$858

Note.—Local agents do not necessarily represent bunkering firms. Oil statistics preváous to December last not available.

Currency has been converted into sterling and dollar, and vice-versa, at the average exchánge for the month of Sept. of 8 5-32d, equivalent to 29$42õ to the £ sterling, l$47l ;to the shilling and 7$980 to the dollar, as against 7 7-8d, equivalent to 30$476 to the £ sterling, 1$524- to the shilling and 8$466 to the dollar for the month of August. ¦ '«, VVILBMAN'S m November 9th, 1921. ¦M' BRAZILIAN REVIEW. 1821

CURRWNT FRFTOHT RA7ES CABLE ADDRESS SCOTl'S 10 th ÉD (For Europe nominal.) CODES "LAUREN" BENTLEYS SUPPL Royal Mail.—Rio and Santos-Antwerp or Rotterdam 40s, Am- sterdim 60s and 10 per cent per 1,000 kilos, coffee and cereais;^ Hamburg 40s; for United Kingdom, 65s and 10 per cent; Havre,' IA 65s Rio and 50s Santos and 10 per cent per 1,000 kilos.> ; EDW. LAUREN & C. Lamport A Holt.—Rio-.U.K., same tis Itòyal Mail: Rio ar*i Santos-United States, coffee, 55c. per bag in full, New Yoiík 20 years èxpériehce in the and New Orleans. STEVEDORING BUSINESS ...Prince Line.—Rio and Santos-New York ánd New Orlear.w, 55cts. per bag of coffee in full: Booth Line.—Rio and Santos to New York and New Orlean.v in America ~; South 55c. per bag of coffee in full.' Z7 Rio-Cape Line.—Rio to South';',' África, 120s, except Mossel Bay 130s. ' .yYY <; TELEPHONE RUA MUNICIPAL N.° 9 American Lines.—Rio and Santos to New York and New RIO DE JANEIRO NORTE 1969 Orleans, 5oe. per bag.'".rrl Y'': Royal Belgian Lloyd.—Rio and Santos-Antwerp and Ha.y- burg, same ás Royal Mail.,..,-...,..., —Skogland H. Skogland due New Orleans end Line.—T. t Frenrh Lines.—Rio-Havre, 65s and 10 per cent eoffe* Skogland, àt ¦K" Nov.; Torlik Skogland, at New York; Marget basis; Rio-Marseilles, 250fcs. per 1,000 kilos in full; Bordèaux, due Petrograd; Skog!and, due Rio 26 Nov.; Hauna Skogland, 75s and 10 per cent coffee basis. Antwerp, 50s and 10 per cent.. Rio end Nov.; Groentoft, due Santos end Nov, loads for Europe; per 1,000 kilos. Laura Skogland, loading Rio for New Orleans; Km Skogland, Royal Holland Lloyd.—Rio and Santos to Channel and Nciih loading Hamburg for Brazil and Plate; Solveig Skogland, due Sea ports, same as Royal Mail. 26 Rio end Nov. fvpra Engand; Waldemar Skogland, due Rio Scandinavian Lines.—Rio to Scandinavian ports, 70s and Nov. from New York. 10 per cent; Helsingfors ,80s and 10 per cent; Rio-Hamburg, P. S. Nicolson & Co.—Mar Tirrsno, loadir/g Rio fór Antwerp 40s. in full. and Hamburg; Hcbcken, loading Santos for Boston and New Italian Lines.-r-Rio-Genoa, 100$ and 10 per cent per l.OOOklsj York, due Rio 20 Nov.; St. Jolm's County en route to Phila- Rio-Trieste and Naples, £5 per 1,000 kilos. delphia; Dundrennan, left Santos for Boston and# New York 26 Lloyd Brasileiro.—Rio and Santos-Havre, Antwerp, Rotter- Oct.; Seattle Spirit, left Paranaguá 26 Oct. for Plate.ir dam and Hamburg, 40s in full and 10 per cent; New York and New Orleans, 75c per bag of coffee... YfYjapanése Lines.—Rio and Santos-New Orleans, 55cts.•-¦>; Pacific, Argéntine and Brazil Line—Rio to Valparaiso, £5; San Francisco, Cal, $1.20 per bag; San Pedro, Seattle, Tacoma, Leass of the Port of Rio de Janeiro. The Inspector of Ports, Vancouver and Victoria, B.C., $1.55 per bag. Rivers and Canais makes the following alterations in the contract Seta y Aznar Line.—Rio to Bilbao 70s; Santander, Gigon, fór the leare of the Port of Rio de Janeiro:— Aviles, Pasages, 90s.; Hamburg, Rotterdam, and Amsterdam, con vc"tion ai. The contract will be for ten years. In view of,decree 4.279 of 2 Ju"e, 1921, making berthing of Mr. Fred Englehart.—Norway and Finland, 60s and 10 per cent; Denmark, 55s and 10 cent.. , .steamers at the quay obligatory:—(1) Suppression of the berth per ,; 65s and 10 cent. New York tax, but ships lying along«ide beyond a certain period will pay per and New Orleans, 55c. per bag. Skogland Line.—Rio-New York, Boston, New Orleans, 55c. extra charges. (2) Reduction of the tax on imported coal from bag; Rotterdam 1.5 reis to 1 real, in view of the fact that such coal is paying, per and Hamburg, 40s. Sundry Líiips and Rates— \'er l.cül) kilos, excppt where by special agreement, a tax of l$40f), which will not be main- otherwise stated:—Hamburg, from 40s to tained. 3() Alteration of "capataziis" taxes, reducing those Rio and Santos, 45a ard 10 per cent; Gibraltar, Cran and Algiers, 200 francs and 10 at pre?ent excessive. (4) Raising the tax on salt, sugar and per cent diieet, with transhipment, 270fcs. Genoa, 60s and 10 national coal to Ai real. per cent. Piraeus, with transhipment Antwerp 50s; Amsterdam, A further alteration is also made in the contract as follows: ,at 60s and 10 per cent and 40s to 50-s 1,000 kilos; Marseilles, (1)Suppres?ion of the monopoly for the supply of water to ships; per 200fcs and 10 per cent. Constantinople, transhipment at Antwerp, (2)Creation of a tax~of 1$000 per ton for transport beyond the 50s, Amsterdam 60s and 10 per cent; Trieste 405fcs. quays. (3) Creation of taxas of 1$000 for discharge and $500 "capatazia" for national coal and 1$500 discharge and 1$500 "capatazia" Vessels Arriving at the Po-ts of Rln and Santos during the week fcr imported coal. (4) The contrator will be oblig^d ended 3rd November,1921. to erect certain biuldings of an estimated oo.st <".f 4.242 .000$000. RioSantosTotal Alteration of date for close of tender from 18th to lOth inst. (5) Flag No. TonsNo.TomNo.Tona British 11 46.082 36.2691982,951 Norwegian 4 9,378 6,038 15,416 Italian 3 13,575 8,489 22,064 Freight War. Shippers of Egyptian cotton at Alexandria French 4 18,198 19,340 37,638 have be3n offered a rate to American ports at 10s under the American 2 14,969 21,929 36,893 British rate. According to the Shipping Board the rate is to be- Dutch 2 10,648 12,834 23,482 tccjme effective immediately. German 1 4,792²-• 4,792 The United States Shipping Board, which is subsidised by Spanish 1 2,153²— 2,153 the U.S. Government, has thus declared a freight war on British Braz, 1 567 1,392 shipping lines. . For 20 British firms have held the freight overseas .... 825 years Portuguese — — 5,033 5,033 contract for the conveyance of Egypthn cotton and cottonseed Danish - 2,460 1-2,460 to the United Kingdom ar><; ¦-•¦• Wm WILEMAN'8 BRAZILIAN REVLBVt C #vNovemt>ej- ©th, 1921.

VESSELS ARRIVINC AT THE PORT OF RIO DE JANEIRO. 31—P. MAFALDA, Italian s.s, 5087 tons, for Genoa Diving tlie v.e.ek Nóvember, 31—GAASTERLAND, Dutch s.s, 2128 tons, for B. Aires ended 3 1921. 31—SIERRA 2.8—ITAPUHY, Brazilian s.s, 926 tons, from Macau VENTANA. French s.s, 4963 tons," for Bordeaux 31—GLENAFFRIC, British s.s, 2658 tons, for B. Aires 28—CAMPINAS, Brazilian s.s, 1165 tons, from Recife 31—ARINDA 28—CAPIVARY. from Alegre MENDI, Spanish s.s, 2153 tons, for Santos Brazilian s.s, 371 tons, Porto 31—NORMAN STAR, 28—GUDMUNDRA, Norw. s.s, 984 tons, from Santos British s.s. 4432 tons, for Las Palmas 1—SANGDAL, Norwegian s.s, 2179 tons, for New York 28—ITAUBA, Brazilian ss. 825 tons, from high seas 3—RIO AMAZONAS, 28—FRUSTA, BriziHan s.s 1240 tons, from Santos Brazilian s.s, 1040 tons ,for Ceara 28—HIGHLAND GLEN, British s.s, 4793 tons, from London 28—BELLE ISLE, French ss., 6027 tons, from Havre VESSELS ARRIVING AT THE PORT OF SANTOS 28--TR OURA DOR, Norwegian s.s. 3626 tons, from New York During ohc weí-k ended 3 Nóvember, 1921. 29—PTO T.E JANEIRO, Brazilian ss. 1487 tons. from Para 28—RE DITALIA 29—ITAIPAVA, Brazilian s.s, 613 tons, from Pelotas •__—JUNGSLTO\ Italian s.s', 3982 tons, from Buenos Aires : 29—CORONEL. Brazilian s.s, 125 tons, from Caravellas f.D, Danish s.s, 2460 tons, from Buenos Aires. 29-ARAQUARY. Brazilian s.s, 1436 tons. from Macau 28—BELLE ISLE, French s.s, 6027 tons, from Havre 29— OPURA, British si, 4884 ton. from Liverpool 23—TABATINGA, Br.->zi'jan s.s, 677 tons, from Rio 29—GELRIA. Dntch s.s. 8520 tons, from Amsterdam 28-IT VPUCA, Brawísaa s.s, 869 tons, from Rio 29—RUÇA DVAOSTA. Italian ss., 450? tons, from Genoa 29.. LIBERTY, GLO, American s.s. 3060 tons, from Philadelph.a 29—AL. S. LAMOFAIUX, French s.s, 3457 tons, from Montvideo 29—FLAMENGO, Bif^lian s.s, 288 tons, from Laguna 29— HEATHSTDE. Pntish s.s. 185_ tons, from Rosário 29-IT ?Rirs.s, 613 tons, from Aracaju 30—ARINDA MENDI, Spanish s.s 2153 tons, from Hamburg St'—IIAPEMA B-ai-viaí s.s, 825 tons, from Porto Aleo-re 31—SABOR. British s.s. 3227 tons, frrm Santos 30-SIERRA VENTANA, French s.s, 4863 tons, from B. Aires 30—PHILADELPHIA, 3w 31—RIO AMAZONAS, Brazilian s.s. 1060 tons, from Santos Brazilian s.s, 359 tons, from Rio 31—P1AIIHY, Brazilian s.s, 425 tons from Camocim SO-DUCA D'AOSTA, Italian s.s, 4507 tons, from Genoa 31—P. WENCESLAO, Brazilian s.s, 801 tons, from Itajahy 30—GELRIA, Dutch s.s, 8520 tons, from Amsterdam 31—ITAPEMA, Brazilian s.s, 826 tons, from Porto Alegre 30—ORUBA. British s.s, 4884 tons, from Liverpool 31—ARACATY. Brazilian s.s, 531 tons, from Areia Branca 52~??Í2HERN CR0S&> American ss., 7977 tons, from B. Aires, 31—AEOLUS. American s.s, 6992 tons, from New York 30—ANGO, French s.s, 4625 tons, from Havre 31—GAASTERLAND, Dutch s.s, 2128 tons, from Amtesrdam 30—ITAPUHY. Brazilian s.s, 926 tons, from Maceió 31—BRONTE, British s.s, 3232 tons, from Glasgow 30—CARPLAKE, American s.s, 3407 tons, from Port Arthur 31—STERRA VENTANA, French s.s, 4962 tons, from B. Aire 30—OVRE, Norwegian s.s, 2413 tons, from 31—ST. ANDREWS, British s.s, 3041 tons, from Cardiff 30—TAOUARY. Brazilian s.s. 654 tons, from Recife 31—RE DTTALIA. Italian s.s, 2983 tons, from Buenos Aires 30-TYNE, British s.s, 3179 tens, from Hull 31—NORMAN STAR, British s.s, 4432 tons, from B. Aires 22—fVR^ BARBOSA, Brazilian s.s, 567 tons, from Montevideo. 31—GLENAFFRIC, British s.s, 2658 tons, from New York- 30—HOBOKEN, American s.s, 2787 tons, from Rio 31—ARAGUAYA, British s.s, 6485 tons, from Soutahmpton 1—BAHIA, Brazilian s.s, 1548 tons, from Rio l—FLORIANÓPOLIS, Brazilian s.s, 918 tons, from Recife 1—IT A GIBA, .Brazilian s.s, 927 tons from Porto Alegre 1—STTAMRE. Brazilian s.s, 120 tons, fro mCaravallas 1—HUBERT. Briti«h ss.. 2486 tons ,'from Rio Grande 1—VENUS. Brazilian launch, 10 tons .from Itabapoana 1—ALMANZORA, British s.s, 9441 tons, from Buenos Aires 1—RUY BARBOSA, Brazilian sB.s, 567 tons, from Montevideo 1—GAASTERLAND, Dutch s.s, 2128 tons, from Amsterdam 3—HASSEL, Norwegian s.s. 2587 tons ,from Santos 1—OYAPOCK, Brazilian s.s, 192 tons, from Rio 3—ETHA, Braziian s.s, 231 tons, from Laguna 2—ARAGUAYA, British s.s. 6485 tons, from Sóuthampton 3—MANÁOS, Brazilian s.s. 651 tons, from Manáos 2—GLENLYON, British s.s, 3122 tons, from Buenos Aires 3—ITAPEMA. Braz;lian ss:, 613 tons, from Aracaju 2—ALCOR. Dutch s.s, 2186 tons, from Buenos Aires 3—ITAGIBA, Brazilian s.s, 927 tona, from Porto Alegre 2—MONTICELLO, American .s, 4698 tons, from Hamburg . 3—SOSSIFCGLI. Grecian s.s, 2167 tons, for Rotterdam 3—CAMPINAS, Brazilian s.s, 1168 tons, from Recife 3—HEATHSIDE, British s.s. 185 tons, for Rosário 3—NASMYTH, British s.s, 4014 tons from B Aires 3—TTRPITZ, German s.s, 4972 tons, for Buenos Aires i^SASí?^^8' portuguese s-s, 5033 tons, from B. Air?a 3—rnppOBA. Frprch s.s, 3754 to^s, for River Plate 3—1ROUBADOR, Norwegian ss., 3625 tons, from New York 3—FLAMENGO, Brazilian 3—OORDORA. French s.s. 3725 tons. from s.s, 288 tons, from Laguna Genoa '¦ 3—PAVFNSWORTH, British s.s, 2608 tons. from México 3-GLENAFFRIC, British s.s, 265 8tons, from New York 3—TIRPITZ, German s.s, 4971 tons. from Hamburg 3—PIAUHY, Brazilian s.s. 524 tons, from Aracaju 3—ALMANZORA. Pri+ish s.s. 9441 torp. from Buenos Aires 3—ANNA, Brazilian s.s, 247 tons, frorn Florianópolis 3—SOUTHERN CROSS. Ameri»an s.s, 7977 tons, from B. Aires 3—P. MAFALDA, Italian s.s. 5086 tons ,from Buenos Aires VESSELS SAILINC FROM THE PORT OF SANTOS. 3—SONGDAL, Norwegian s.s. 2179 tons, from B. Aires 3—SORDOBA. French s.s, 3752 to^s, from Genoa During the week ended 3 Nóvember, 1921. 3—CORCOVADO, Brazilian s.s, 825 Tons, from Newport News 28—ITAPUCA, Brazilian s.s, 869 tons, for Porto Alegre ™~~I^BATINGA' Brazilian s.s, 677 tons, for Paranaguá \ Italian s-s' 3982 VESSELS SAILINC FROM THE PORT OF RIO DE JANEIRO. ͧ-55^ffAíIA tons' for Genoa Swedish s-s, 3063 tons, for Ouring the wofk ended 3 Nóvember, 1921. o^nw^vií^Ç;01^IS,LE> %Rosario S~P?££? French s-s> 602' to»3' ^r Rosário 28—pncONE: Brnzilia.^ s.s, 4201 tons, for" Hamburg~ 29—SABOR, British s.s. 3227 tons ,for Liverpool 28—OV.at»ock. Brazilian s.s, 192 tons, for Iguape 29—RIO AMAZONAS, Brazilian s.s, 1040 tons, for Ceara 28—ITAPURA, Brazilian s.s, 926 tons, for Mossoro o^~Ací™fí^TRA^SP0RT Brit s-s, 3003 tons ,for R. Grande, 28—ITANEMA. Brazilian s.s, 553 tons ,for Porto Alegre 29— SHERIDAN, British s.s. 2875 tons, for New York 28—GUNMUNDRA, Swedish s.s, 983 tons, Stockholm A,meri°™ for MTvhtr^ s.s, 3709 tons, for S. Francisco, Sul 28—CARPLAKA, America ns.s, 5104 tons, for Santos 29—ITAITUBA, Brazilian ss., 613 tons, for Pelotas 28—MH A MBA NE. Portuguese s.s. 3719 tons, for B. Aires 29-Fr.AMENGO. Brazilian s.s, 288 tons, for Rio7 28— WESTFALEN German s.s, 3207 tons, for B; Aires Í£_FÍ?Í?SH0VED' Danish ss. 2450 tons, for Copenhagen . 28—AEOLUS, American s.s. 5992 tons, for Buenos Airesc 30-ITAPEMA, Brazilian s.s 825 tons, for Rio 28—ERINIER, British s.s. 2630 tons, for Antwerp 30-DUCA D'AOSTA, Italian s.s, 4507 tons, for B. Aires 28—AL. LAMORNAIX, French s.s, 3118 tons ,for Havre ^~™?'R1A VENTANA, French s.s. 4903 tons ,for Bordeaux 28—ANGO, French s«., 4625 tons, for Santos 30—OPTJPA, BvitHi s.s, 4-884 tons, for Callao ;29—AQTJIOUI. Brazilian tug, 70 tons, for Cabo Frio 30—GELRIA, Dutch s.s, 8520 tons io rB. Aires ,29—CORONEL, Brazilian s.s. 125 tons, for Victoria 30—RUY BARBOSA, Brazilian ss., 567 toas for Rioi- ,29.—BAHIA, Brazilian s.s, 1548 tons, for Rio,Grande 30—HASSEL, Norwegian s.s, 2539 tons, for New OrOleans 29—ITAPUHY, Brazilian ss., 926 tons ,for Porto Alegre 30—SOUTHERN CROSS, American s.s, 7977 tons, for New York 29—TTAIPABA, Brazilian s.s, 613 tons ,lor Aracaju 31—SONGDAL, Norwesdan s.s. 2179 tons, for New York .'29—TAOUARY, Brazilian s.s, 654 tons, for Porto Alegre 31—ITAPUHY, Brazilian s.s. 926 tons, for Porto Alegre 29—FRESIA, Brazilian s.s, 1241 tons. for Mossoro l__ANGO, French s.s. 4625 tons, for Buenos Aires ,29—TP OURA DOR. Norwegian s.s. 3625 tons, for B. Aires 1—ITAGIBA, Brazilian s.s, 927 tons, for Maceió' 30—HOBOKEN, American s.s, 3987 tons, for Santos 1—BAHIA, BraziH-in s.s. 1548 tons ,for Rio Grande ' 31—PAPA, BrazHan s.s, 11Q5 tons, for Para 1—PHILADELPHIA, BraziMan s.s, 359 tons, for Paranaguá ,31—SABOR. British s,s, 6483 tons, for Liverpool. 1_RAVEjVSWORTH. British s.s. 2608 tons .for México z 31-ITAPEMA, Brazilian s.s, 825 tons, for Porto Alegre 1—ALMANZORA, British s.s. 9441 tons for Sóuthampton 31—CAMPINAS. Brazilian s.s. 1168 tons, for Porto Alegre 1—ARAGUAYA, British s.s, 6485 tons, for Buenos Aires 31—PIAUHY Brazilian ss., 524 tons, foiv Santos 1—OYAPOCK, Brazilian s.s, 192 tons, for Iguape ' <3L—ARAGUAYA, British s.s, 6485 tons ,for B. Aires 3—TRAZ-OS-MÒNTES, Portuguese.s.s, 5033 tons, for Hamburg 31—ALMANZORA, British s.s, 9441 tons, for Sóuthampton 3—NASMYTH, British s.s, 4014 tons, for Liverpool 31—SOUTHERN CROSS, American s.s, 8173 tons, for -New York 3—CORDOBA, French s.s. 3752 tons, for Buenos Aires