COMMERCIAL AND INDUSTRIAL ITEMS. SHIPPING WHEAT IN BULK.

Press, Volume LV, Issue 10150, 24 September 1898, Page 7

COMMERCIAL AND INDUSTRIAL ITEMS.

SHIPPING WHEAT IN BULK.

Until the Australian exports of breadstuffs assume really large proportions, the questions of loading vessels in bulk and of elevators are of little importance, says the Melbourne "Argus." But they are raised every now and again, the wish—very proper in itself—being to save expense iv the bandling of grain for shipment. It is doubtful, however, whether it would be profitable to carry wheat in bulk from Australia, the risk of loss on a long passage being taken into account. The generally ' smooth passage, say, from Odessa, in the Black Sea, to the Millwall Docks, on the Thames, easily admits of this mode of carriage, but the Cape Horn passage is a vastly different affair. On the other hand, there is no doubt that the risk from the shifting cargoes of deadweight merchandise can be greatly reduced, if not altogether obviated. For instance, a vessel is loading (or, perhaps, has already sailed) at Philadelphia between 3000 and 4000 tons of steel rails for Melbourne, in fulfilment of the Railway Department contract of March last. This, under former conditions, would be reckoned a most dangerous cargo, on account of liability to shift, but we are informed that by a very simple, although ingenious, arrangement shifting will virtually be impossible. What can be done in loading a cargo of steel rails ought to be possible also with a cargo of wheat. Yet the losses of wheat cargoes from Australasia have been so serious in the past that it is quite likely that marine insurance offices would entertain proposals to cover wfoeat shipped in bulk with great caution. It is possible, however; to make arrangements for the more rapid stowage of a grain cargo, always supposed that all the grain is along-

side. At Duluth thMuftgrican lake steamers are accomplishing great feats, the wheat being in bulk. For instance, on May 30th 195,000 lushels (equal to, say, about 46,000 bags) were pat into the Empire City in three hours and five minutes, and 3000 tons of flour, in barrels, were placed aboard the Kearsage in eight hours forty minutes. Such ftats are neithei necessary nor possible in Australian ports, whence the exports of hreadstuffs are small, but if the coming season should prove to be as bountiful as it promises to be, quickness of despatch will be very desirable.

THE TRADE OF INDIA.

The external trade of India last year has been officially returned as under, the rupee being valued at 15.054 pence:

By Sea. 15v Land. Together. E_po:ts .. _63,3i5,182 £5.124,689 £63,463,071 Imports .. 63,405,8ia 3,3ii,tf64 56.876,776 The land trade alongjthe northern frontier is comparatively small, and is mainly with Nepaiil, Cabul, Khelat, and Candahar, Cashmere, and the Shan States. With Western China and Siam the frontier trade is as yet trilling, but it is increasing. Still, the Himalayas and Oriental exclusion tend to keep down intercourse across the land frontier. is the trade by the sea which is by far and away the most important. India last year imported by sea manufactures to the value of £30,329,311; coin and bullion, £11,815,264 (including £4,000,000 gold and £7,800,000 silver) ; food, drinks, and narcotics, £6,619,106; and raw materials, £4,7b0,131. The exports comprised raw materials, £24,191,569 (mainly cotton and jute); manufactures (mainly of the same materials), £17,241,294; foods and narcotics, £19,644,525 ; and coin and bullion, £4,260,794. Thus, even in an adverse year, the exports exceeded the imports by £11,586,295. But as the Indian Government require to remit to London about £17,000,000 a year, this trade balance in favour of India was insufficient. This year probably there will be a larger- excess of exports, which should make the Government remittances easier of negotiation by means of the india Council drawings.

CAPE IMPORTS AND EXPORTS.

The Cape of Good Hope imports for tho twelve months ended June 30th totalled £16,916,315 in value, as against ±u8 ) 244,425 during the previous twelve months. The amount included £71,733 in specie, as against £75,266. The exports reached £23,652,822 in value, as compared with £19,268,175. There was a loss on Transvaal trade, which was partly compensated for by an increase of trade with Rhodesia.

PROSPEROUS BRITISH BREWERIES.

Within a comparatively few years almost the whole of the breweries in the United Kingdom have been converted into joint stock companies. The change came when thirteen years ago Arthur Guinness, Son and Co. adopted the jmnt stock iorin, with a result wnicn was successful on a vast scale. Probably that operation, which created £6,000,000 of, marketable stock, more tnan doubled the theu existing brewery capital in a joint stock form, whereas at the present time there must be, at least, £160,000,000 of brewery shares and stock held in the United Kingdom. It is a very large sum, and yet it is worth on the Stock Exchange to-day a far greater sum. Guinness and Co.'s £6,000,000 is quoted at well over £20,000,000 on the London Stock Exchange, and the great majority of the other companies stand at substantial premiums. Probably, taken all round, the market values reach nearly double the figures represented by the nominal capital. Almost tne whole lot of them are dividend-paying, and they have proved themselves a profitable investment. British beers have a good name everywhere, though a vast number of these breweries are not known outside the United Kingdom. Guinness's name is, of course, known everywhere, and in Australia, the Edinburgh, Burton, and a few London brands are recognised. But there are dozens of big and prosperous breweries in the United Kingdom of which practically nothing is heard outside the old country itself. .