Page 134 - PERSIAN 2C 1890_1899_Neat

24 ADMINISTRATION REPORT ON THE PERSIAN GULP POLITICAL
It has been noted that Russian enterprise is endeavouring to open new
fields for their commerce, by means of the Societe pour le commerce el Vindu«.
trie en Perse et Asic Centrale. This Company, established in Tehran, i8 said
to he looking southward for an extension of operations, and to bo contemplating
the opening up of trade from the Black Sea and through the Suez Canal with
the Persian Gulf.
An important incident in the Persian trade of 1892 is the establishment,
by the Imperial Ottoman Bank, of correspondents in the important towns of
Persia.
Imports.
Arms and ammunition,—The prohibition against the importation of
articles under this heading has possibly been carried into effect with more
strictness at Bushire during 1892, than in the preceding year, for the returns
now show a total of 25 packages only as against 296 for 1891. There has
probably been a diminution in their import; but information obtained from
the Karun districts makes it clear that large quantities of Martini Henry and
other arms and ammunition find their way into Arabistan, probably smuggled
through Kowait, Mohammerah, and Hawaizah. The Arabs inhabiting the banks
of the Karun and Diz have large numbers of Martinis which are only bought
when sold with some hundreds of rounds of ammunition.
Candles.—Business in this article followed the general depression. High
rates of exchange are reported to have prevented its being remunerative.
Cotton goods.—"When the year opened, stocks in the hands of middlemen
and retail traders were large and no new business was in consequence entered
on. The prices ruling did not rise with the rates of exchange. The demand
just before the Persian Nauroz (21st March), always the best season of the
year, was scarcely appreciable, and as the Pa mad than, the month of fasting,
approached, the bazars were practically closed. "When business was resumed
retail traders unable to dispose of old stock were naturally unwilling to
embark on fresh ventures. In June a little more activity was visible, but prices
did not rise to the level required by the adverse exchange, and business again
slackened. The markets continued dull till the close of the year, when reports
of the failures of the American cotton crop aud consequent advances in Man­
chester first costs had the effect of hardening prices, but the advances obtained
here were not parallel to the rise in Manchester nor even to those obtained
in the Northern markets. A profitable business is usually done by retailers
despatching mixed parcels to agents in the outlying districts, but owing t°
discouraging reports, the known scarcity of money, no inclination to venture
appeared this year.
An important feature in this trade has been the reported diminution in
imports by Europeans and its comparative increase by Persians.
Glass and China ware.—Trade in these articles was neglected.
Gold lace and thread.— Trade in this has fallen off and continues to be
dull.
Indigo.—There was a much larger import of this article during the pnst
year, which shows that the native industry of printing and dyeing, which has
hitherto been languishing, owing to the competition of Manchester, is increasing
Metals.—The trade in copper has been dull and without fluctuations. The
bazar people unwilling to pay higher prices bought only for immediate
quirements, and as the price of this metal kept at about the same level in
Europe during the whole of the year, there was hardly any speculation. e
was a considerable decline in the import of rod aud bar iron during the year.