Page 136 - PERSIAN 4 1890_1899

26 ADMINISTRATION RETORT ON THE PERSIAN GULP POLITICAL
had previously purchased largo quantities of the tobacco oT~tho~^p7
exports for native accouot have been very small. These, however ° ^
r,. . * are now
on the increase.
Wool.—Export of wool took place on about the same scalo as last
year.
Miscellaneous.
Exchange.—There was a continued rise in the rate of exchange, the value
varying from krans 36 per £ sterling at the commencement of the year to
krans 40J at its close. This was in conformity with the Bombay-London rate
which ranged roughly between la. 4\d. and Is. 2\d. per rupee.
Freights.—Theso ruled very low and are the best criterion of the contempo­
raneous condition of trade. During 1891 freights varied from £1 7«. 6d. to
£1 16s. During the year under report they hardly ever exceeded £1 10s.,
while they declined to as low a figure as fifteen shillings from Bussorah. Theavail-
able tonnage for London was in excess of the demand, although several steamers
which usually loaded to and from the Gulf sought employ elsewhere. It is
improbable that there will be much improvement until the new harvest is ready
for shipment.
Mule hire.—A. most important item in the trade of Persia, especially in
import branch, is the rate for which transport by mule caravans can be secured.
• of 7J b ctrh. The year opened with a quotation of
1167 mile*. kracs 55 per 100 Tabriz * maunds to
Shiraz f and this steadily declined till, towards the beginning of April, the
rate stood at krans 38, and this rate continued with a rise of up to kraus 5 until
October. Transport then rose to krans 52 and again 62. The year closed with
a quotation of krans 80.
Petroleum.—The Imperial Bank Mining Bights Corporation have not
apparently been suceassful at Daleki, and although a depth of 1,600 feet is said
to have bcon reached, no oil has been found. It is said that the boring there
will be stopped, as it would hardly pay to raise the mineral from so great a
depth, if any should be subsequently tapped. This Corporation has also started
boring at the Island of Kisbm.
The opinion of the people on the spot however seems to be tbat the chances
are against success. Local demand continues to be met from Russia only.

A. C. TALBOT, Lieut.’Colonel,
Political Resident, Persian Gulf.