Page 38 - PERSIAN 9 1931_1940

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Telegraph Office and the cable connecting Bandar Abbas with Henjam via Kishirn
Island was disconnected.
Lingah.—The I. E. T. D. Wireless Station was closed down on the 28th
February.
llenjam.—'The Wireless and Cable Station on this Island is now being maintain­
ed and operated by the Imperial and International Communications, Limited.
*
Imperial Bank of Persia— Mr. E. S. Mathcson took over charge of the Branch
of this Bank from Mr. I. Macrae on the 18th April.
Owing to the severe exchange control, banking transactions were drastically
curtailed. A gradual improvement took place during the latter part of the year
when the Rupee and Sterling exchange were freed from restrictions and there
was a strong demand for rupee exchange in the bazaar even at the high rate of 680
krans per Rs. 100. However, the banks stopped selling after a short time when the
value of the pound fell to 60 krans.
The National Bank of Persia which was opened here in 1930 under the Mana­
gership of Monsieur Wurst and transferred to M. Karl Iioefer on his departure in
October has become a serious competitor and has increased the difficulties of the
Imperial Bank.
All coin of a very low standard except those hole-ringed and broken remained
as legal tender throughout the year.
Selling quotations of the Banks on London and Bombay were as follows :—
London Highest .. .. krans 90 to £1.
Lowest .. .. krans 60 to £1.
Average .. .. krans 75 to £1.
Bombay. Highest .. krans 680 per Rs. 100.
Lowest .. .. krans 444 per Rs. 100.
Average .. .. krans 562 per Rs. 100.
As mentioned above the selling rates were nominal except when the foreign
exchange was freed by the Persian Government for a short while.
Imperial War Graves Commission— Captain G. Peek, O.B.E., the Area Officer,
Basra, of the Commission visited Bandar Abbas on two occasions during the year and
concentrated to the Naibund Cemetery seven war-graves from the Zabul district,
two from Kerman and one each from Henjam and Jask.
Red Oxide of Iron.

Hormuz Island.—The output of ore that was available for export amounted
to 5,000 tons of which only 2,000 tons were shipped to the United Kingdom in
British vessels.
Trade and Commerce.

Bandar Abbas.—The year under review was noteworthy for the passage of
several laws by the Persian Mcjliss resulting in a very restricted import, to say
nothing of the 80 per cent, surtax introduced over and above the Customs duty
which further increased the importers’ difficulties. The Russians have improved
their trade in this town and it would be safe to say that during the six months
March/Se.ptembcr that their import equalled that of the total of all other merchants.
The chief items of Russia’s imports comprised soft and loaf sugar, matches, piece-
goods, sewing machines, etc.
All the Hindu firms of long standing with the exception of two closed down in
June owing to the impossible conditions under which they were obliged to trade.
At the close of the year, it was rumoured that the Russians had obtained the
monopoly for the import of sugar, kerosene oil and matches, but later this was
contradicted by a notification issued by the Persian Government in which the
sugar monopoly was reserved for .themselves.

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