(enst A connesrosoryt.)
Settlements during the week show a marked falling off and barely reach the moderate total of 20,000 packages. The Thulk of these (ens have been taken by Russian buyers, whose large operations are only checked by the firmness of teamen and the absence of desirable supplies. Second-crop teas continue to tome in very slowly, but prices asked and obtained quite jut out of court the execution of any jut the smallest orders for the London market. A slight improvement in make and crop of a: few parcels second-crop Oanfa is noticeable, but the quality enemily is far below that of last year. ft is said that Russian requirements will absorb practically the whole of the second crop.
he business of the week has been upon the following basis per Ib, Ningchows and Kiukiang Packs......11,00 a @ 10ja Qonams 8.30 a 31=44d. al0}d. Oopacks id. a 8a. The estimated settlements for Russia to date The estimated set England, America, Continent of Europe 178,000 The estimated England to date Actual export to 1896, same time.
Total arrivals show a falling off 180,271 }-chests compared with the same number days last year.
As the total quantity of Congou available for the London market this season is not likely to exceed 10,000,000 Ibs., the small quantity required to make this total (although in some quarters it is maintained that London cannot manage more than 73 millions) can have no serious effect on shipments now afloat; and as the stock of Congou in London at the middle of this month is rapidly approaching vanishing point,—that is, that it will be only some 4,000,000 Ibs.—and a portion of this inay well be calculated to be unconsumable stuff, the statistical position of the article is exceptionally strong. Given a market for! the produce, fair results may be expected from good management.
The duty and inland taxation weigh abnormally heavily on much of this year's production. For instance on teas ranging from Tls. 9.@ Tls. 14 per picul the charge amounts to 37% on the cost; a burden heavy enough to stifle any trade.
In my report of the 7th ult., the crack chop of Keemun, Singar, is stated to have realised Tls. 40. This is manifestly incorrect. The actual price was Tis, 51 per picul.
Text read from the printed page and cleaned; old type leaves the occasional error.