"A concession is given to the following four banks at Copenhagen, viz., National Bank, Private Bank, Handel's Bank, Landman's Bank, jointly to establish a bank (limited), which shall be entitled to issue notes for a period of 30 years. The share capital shall be 5,000,000 fr. (1,000,000 West Indian dols., or 200,0001). The amount of notes issued may be up to 10,000,000 fr. (400,000l.), subject to the condition that the bank is always in possession of a metallic reserve amounting to three-eighths of the amount of notes in circulation, and of effects that can easily be realised as security for five-eights of the amount of notes in circulation."

"The bank is to be called the Danish West India National Bank, and to pay an annual tax of 10 per cent. of its net profits to the Danish treasury.

"Permission is given to establish a lottery at St. Thomas." (Foreign Office, Annual Series, 3,180.)

GERMANY.

H.M. Consul-General at Hamburg reports that, with a view of promoting the interests of the large number Chamber for of retail dealers in the town of Hamburg, a Retail Traders chamber for the retail trade has recently been at Hamburg. organised there under the auspices of the authorities, upon about the same lines as the Hamburg Chamber of Commerce. This chamber is to consist of 18 members, elected by and from the various branches of the retail trade, and one of the members of the chamber will be chosen as its delegate for attending the regular sittings of the permanent committee of the Hamburg Government for trade and navigation. (Foreign Office, Annual Series, 3,186.)

Trade in 1903.

FRANCE FRENCH CONGO.

According to the "Dépêche Coloniale" of 26th June, the value of the trade of the French Congo during 1903 (exclusive of the imports of specie and materials for public works) was as shown in the following table. The figures for 1902 are given for the purpose of comparison:

The increase in imports is chiefly shown in piece-goods, salt, spirituous liquors, steam engines and tobacco.

The following table shows the quantity and value of the principal exports in 1903:

The exports of indiarubber show an increase of 607,654 fr., those of woods other than ebony, an increase of 606,418 fr., and those of ivory an increase of 446,249 fr. over the preceding year.

BULGARIA.

The following particulars relating to insurance companies in Bulgaria, are taken from a recent report by the French Consul at Burgas :

Insurance Companies in It is only during the last twenty years that Burgas. insurance agencies have been established in the department of Burgas. At first, but little business was done by these agencies; but the natives have gradually been convinced of the benefits to be derived from insurance, and the majority of business people now insure their premises and goods against fire. Life insurance companies, however, find comparatively few clients in the department, the population of which is 312,463.

The only marine insurance companies, represented by agents at Burgas, are three German houses. These companies do business on but a small scale. Most of the valuable cargoes of grain are insured in London or Antwerp.

An American company have secured the major portion of the

Miscellaneous.

life insurance business, their premiums amounting to 3,2001. a year. A French company are also represented; but their terms are not so advantageous as those of the American company and their business is very limited. Two native companies are represented in this department; but they also suffer from American competition and the two combined are said to secure only about 4007. annually in premiums.

A French company do by far the largest amount of fire insurance. Two native companies and a British company are also represented; but their business has tended to diminish rather of recent years, most of it passing into the hands of the French company.

Trade in

TURKEY.

According to the report of the British Chamber of Commerce of Turkey for 1903, the latest statistics published by the Turkish Custom-house are for the year 1315 (13th March, 1899, to 12th March, 1900). The total value of the import trade during that year was 22,269,5807. distributed as follows:

1899-1900.

The percentage of the imports from the United Kingdom fell from 38.60 in 1898-99 to 33.95, in 1899-1900; that from Austria and Germany rose from 21.30 to 21.55, whilst the percentage from France expanded from 9.30 to 12.10.

The total value of the exports from Turkey in 1899-1900 amounted to 14,174,005l., as against 12,204,945l. in 1898-99. The exports to Great Britain amounted to 5,013,349l., or 35-40 per cent. of the whole, as against 4,208,715l., or 34.50 per cent. The exports to France, Germany, and Austria together for 1899-1900 amounted to 6,087,144l., or 43 per cent. of the whole, being the same as the previous year.

Miscellaneous.

UNITED STATES OF AMERICA.

In his report on the trade of 1903, recently issued by the Foreign Office, H.M. Consul-General at San Francisco gives the following details:

British Share of

California Export

and Import Trade.

"From statistics prepared by the San Francisco Chamber of Commerce, the export trade of purely Californian products sent hence by sea-not therefore including goods sent by rail to the Atlantic coast-was valued at 6,350,000l.

"The share taken by the British Empire was :

66

The total value of the import trade at San Francisco for goods coming by sea is returned by the same authority as 7,304,4371.

"The Empire's total should really be larger, as in these tables certain British ports in the East are included in China."

STATISTICAL TABLES.

Cotton Returns.

Return of the Number of Bales of Cotton Imported and Exported at the Various Ports of the United Kingdom during the Week and 25 Weeks ended 23rd June, 1904.

* Including 104 bales British West African and 195 bales British West Indian.

Corn Prices.

Statement showing the Average Price of British Corn, per quarter of 8 bushels, Imperial Measure,* as received from the Inspectors and Officers of Excise in the week ended 25th June, 1904, and corresponding weeks of the seven previous years pursuant to the Corn Returns Act, 1882.

* Section 8 of the Corn Returns Act, 1882, provides that where returns of purchases of British Corn are made to the local inspector of Corn Returns in any other measure than the Imperial bushel or by weight or by a weighed measure that officer shall convert such returns into the Imperial bushel, and in the case of weight or weighed measure the conversion is to be made at the rate of sixty Imperial pounds for every bushel of wheat, fifty Imperial pounds for every bushel of barley, and thirty-nine Imperial pounds for every bushel of oats.