The student should be familiar general way with various classes of a stock and with the technical

The student should be familiar general way with various classes of a stock and with the technical terms familiar to the joint-stock companies. More important of these affairs the following:

Spain, because of a various climate of its several parts, is capable to manufacture almost all

Spain, because of a various climate of its several parts, is capable to manufacture almost all edible fruit and the grains known both moderate and tropical areas. Though there are some areas of desert, the soil most part is strongly productive, and was the agriculture pursued with the same skill as it is in other countries - in England and Scotland as Spain of an example would be one of the richest agricultural areas on globe. But not only that the agriculture is very inefficiently pursued, but also the country also is seldom occupied (only 90 to square mile, in comparison with 270 to square mile in Italy), and only one quarter from this is grown up. As consequence only those products are lifted in Spain in which, because of its advantages of a climate, etc., it has the least quantity of competition. The basic commercial agricultural product - wine, a grapevine which is grown up in each area in kingdom. Six hundred millions gallons of wine are lifted annually which is more in value, than the full quantity of grain has lifted. Only one fifth from this, however, is exported (mainly to France), and even it, the most part - wine of the lowest grade, used to mix up. Remaining agricultural products of the exported Spain are basically oranges, lemons, , raisin, nuts, olives, and onions. From this value for more than 15 000 000$ go to England annually. England and France, really, possess the big most part of foreign trade of Spain, but last years Germany and the United States take the small action of it. The mineral riches of Spain are huge, and as mines the foreign capital often operates, they are worked with energy. The whole eternity iron ore of Basque Provinces of the north and copper ore of area about Cadiz [113] were known. Value for thirty five millions dollars of copper, iron, leadership, silver, and mercury is exported in Big
The Great Britain annually. Is manufacturing of claps, woollens, cloths, and silks, but any of them as cannot speak, is very rich, though within last twenty five years, owing to the high protective tariff, the quantity of the raw materials used in textile manufacturing in Spain, has doubled. Spain makes an excellent wool, but its woollen manufacturing is incapable to use all it, and one quarter is exported. In the same way, though Spain is especially rich with iron areas, it receives approximately one third of hardware which it requires for own consumption from England. The full area of coal fields of Spain is estimated in 5500 miles, but till now a few coal has been extracted, partially because it is a little inaccessible. Value for four million dollars of coal is annually imported from England. The whole mountains of stone salt exist, but is a little extracted, and any is not exported, though the bay salt received in the south, exported to fishermen of Cornwall. Other important export - a grass which send to England which will be used in paper manufacture. And still another - a stopper though Portugal which adjoins Spain, is the main place of the industry making a stopper. Madrid (470 000) is the capital and the greatest city. Barcelona (250 000) is the main seaport of Spain and the main industrial centre. Valencia (145 000), in the southeast, both Seville (135 000) and Malaga (115 000), in the south, is the basic places of export trade in country fruit. At Cadiz (65 000), the basic naval seaport of Spain, is known export trade in sherry wines. The general number of the population of Spain 17 500 000.
Spain was compared in size to California.
[114]
SAD CONDITION OF ITALY

When the case of the goods which will be sent, has been properly entered and weighed it then is

Allowed to promote without a waybill
When the case of the goods which will be sent, has been properly entered and weighed it then is ready to be the person [63] ifested or waybilled as any shipment not
Allowed to promote without a waybill. The waybill - simply memorandum of cargo, together with full navigable instructions, giving also car number, in which case has been loaded, and point to which the car 'is scratched'. The cargo conductor has waybills for all goods which it bears. They are turned with the goods to the agent of the railway in mission point.

To hold indorser, he should be properly notified concerning note non-payment; and whether it has

To hold indorser, he should be properly notified concerning note non-payment; and whether it has been made, a fact question. If he has not been properly notified, this protection will help every time when it is clearly proved. The big variety of protection can be successfully made indorser. A little from these protection here are is short noticed: Everyone - usury; another - unloading of the manufacturer by the holder; and thus it cannot be kept, when he has paid the note; neither when its problem was illegal, nor when the note was non-turnaround when it has been provided by swindle. At last, indorser it can be helped by any protection existing between the holder and the manufacturer or the basic debtor. It is obviously fair principle as the holder should have no more rights against indorser, than it has against the manufacturer. If, therefore, the manufacturer can interfere, some only demand as partial or full protection which indorser needs to allow to be helped independently this requirement.

Position of Russia in the world - some kind of a problem

Position of Russia in the world - some kind of a problem. Its area huge. It is more than the one seventh surfaces of the earth of globe it is included within its compact borders. From this extensive territory the area of one only the European Russia is only one quarter; but even in this case it is more than area of all other European connected states. The population of Russia - more than 129 000 000 from which more than 106 000 000 belong to the European Russia. But the capture even the European Russia is the population only fifty four to square mile, the lowest proportion in Europe, except in Sweden and Norway. And the population increases. The birth rate factor is the highest in the world. And though the death rate indicator is very heavy, being fifty percent. It is more than it are in England, the increase since births is so big, that the population doubles in forty six years. There is thus obviously prospect, that Russia will play, in the near future, the important role in a drama of the nations, its capacities and ability to growth seem so shaking. And still there is an underside to a picture. From 106 000 000 inhabitants of the European Russia 10 000 000 belong to a cultural, progressive class, [121] rather equal of any people in Europe. But the rest
Mainly low grade of the peasantry which is not long deleted from slavery. The basic employment their peasantry is engaged in agriculture. But their farms are small, it is no more than ten acres for a piece, and the aggregate profit which they receive from them, does not average more than 65$ in a year in a farm. The food their peasantry is the most bad in Europe. Basically it consists of rye bread and the mushroom soup standing approximately four cents a day. Buildings it is frequent - simple huts, it is no more than a five-foot square. Women just as work of men in areas, and still the food total sum has lifted, has no more per capita than one tenth that is lifted by peasantry of France. Value of the food lifted in an acre, also, is too a little more than one third of average in an acre for all Europe.
Russia, British Empire, the United States were compared.
[122]
RUSSIA THE COUNTRY OF SOCIAL EXTREME MEASURES

It is in development of its mines and изготовлений in which minerals are used, that

It is in development of its mines and in which minerals are used, that Germany has made the most significant progresses. It makes four times so a lot of coal as France, and at it is more than 1000 separate iron mines. Its manufacture of iron has increased tenfold in fifty years. It employs more than 400 000 men in its mines, and by means of rationalisation cars one person can make now the whole three men, could make fifty years ago. Its manufacturing of hardware - one sixth its full , and through last half of century which they have increased the sixfold. They double now that of France, and are only one quarter less than that of the Great Britain. At it is 750 factories devoted to creation from one only of cars. Two of them in Essen, and Borsig"s in are Berlin among the greatest in the world. Works Krupp"s of 20 000 men, 310 steam engines have, and covers area of 1000 acres. Works Borsig"s of 10 000 men, and in fifty years, beginning from what, there were no almost 4000 locomotives. One of hammers Krupp"s (fifty ton hammers) cost 500 000$.
DOMESTIC TRADE OF GERMANY

Before end of the organisation of a trunk or through lines, the freight has been compelled to break

Before end of the organisation of a trunk or through lines, the freight has been compelled to break the most part and to transfer an overload in the end of each line where the new corporation has lifted movement and bore it out of. To prevent this the most part and to accelerate the car of cargo, fast cargo lines on separate capitalisation have been organised. The purpose of the law of interstate trade consists in substantially to prevent discrimination and corruption in cargo charges, to provide for each person and a place only and equal processing in hands of the companies of transportation. Cargo norms are arranged and adjusted by transport associations, and various [59] conditions, and makes a compromise necessary, have made also classifications and norms about so difficult as something
Probably could be.

The most distinctive manufacturing of France, in what it surpasses all other countries of the

The most distinctive manufacturing of France, in what it surpasses all other countries of the world, is silk manufacturing. Full manufacture of France silks far does not require one third of full manufacture of the world. Lyons (466 000), on Rhone, is the main place of the industry, having this advantage since the machine tool has been invented there in the beginning of this century. Its manufacture far does not require three quarters of full manufacture of the country. The most important manufacturing of France, however, is its manufacturing woollens. In this manufacturing it comes then after the Great Britain, its full manufacture which is a few before that from Germany and the United States. Its woollen number of factories for 2000. Its consumption of a wool for this industry - approximately three [100] quarters, that from the Great Britain, but value of its manufacture - only that two thirds from the Great Britain. Lille
(216,000) and Rheims (108 000) is the main places of the woollen industry. From approximately equal value with woollen manufacturing of France its manufacturing of hardware, but importance of manufacturing of hardware of France is national, instead of international. From the following importance manufacturing of claps and cloths. The main places of these industries, for claps, Rouen (113 000), 'Manchester France,' and for cloths, Lille. About Lille Cambrai, the main place of manufacturing for this purpose finer class of the cloths known as lawn. The second distinctive manufacturing of France - glass and porcelain manufacturing. In this manufacturing France is rather equaled the Great Britain concerning value, and surpasses it concerning artistic character of the equipment. Limoges (77 000) and With-. The cloud (about Paris) is the main places of the French manufacturing of porcelain. It in With-. A cloud by which the well-known porcelain 'Sevres' is made.
PARIS AND GREAT SEAPORTS OF FRANCE

The most distinctive natural product of Italy - silk, and quantity of the crude and thrown exported

The most distinctive natural product of Italy - silk, and quantity of the crude and thrown exported silk makes approximately 57 500 000$ annually. The silk culture is continued on all extent of kingdom though the industry prospers most extensively in mountain and Lombardy Bottom, in the north. More than 550 000 persons are occupied in cultivation of silkworms, and the annual crop of a cocoon approaches 100 000 000 pounds. Silk - 'throw', or spinning, is the basic manufacturing industry, and the quantity of silk spun and exported, approximately 45 000 tons which most part goes to France. After silk products of the country which make the basic export, are an olive oil, fruit (oranges, lemons, , , fig., dates, and pistachio nuts), and wine (in flanks). Export of an olive oil and export of fruit - everyone approximately the one fifth export of silk, and wine export approximately one sixth. Other important and characteristic export - crude hashish and flax, sulphur, eggs, has made a coral, woods and the roots used for colouring and , rice, marble, and straw. The basic import - wheat, for agricul [117], ture though in general is pursued, is still in the return state of efficiency, and a grain average crop - only one third, that it is in the Great Britain. One
The eighth total sum of wheat should support people, should be imported. Actually, the total sum of the foodstuffs lifted in kingdom, is much less than the demanded quantity to be, for example, in the inhabitant, it is no more than one half of that is lifted in France. In particular there is a deficiency of meat, and quantity of the meat lifted in the inhabitant, is the lowest in Europe. As consequence Italians badly eat, and it is estimated it of four percent. From annual death loss is caused by an impoverishment of blood because of a wholesome food lack. After wheat and a crude clap, the following basic import - coal as Italy does not have any realizable coal fields. In the greatest possible degree hydraulic power is used as the driving power instead of coal, especially in iron industries. [118] important import also - fish as, owing to the big number of the fast days, which Italian people mark, and to tenderness and deficiency
From meat fish - very much general article of consumption. Value for six millions dollars is annually imported, and probably equal quantity is received from local fishery as is more than 22 000 courts and boats and more than 70 000 men occupied in this industry. After a silk throw the most characteristic Italian manufacturing industry - what have the artistic or semiartistic nature, such as creation from fine ceramics, porcelain, glasswares, mosaics, and a lace. Venice (154 000) and Genoa (225 000) is still the basic seaports and shopping centres of Italy, but in trading value these known cities - only simple shades of what they were once. Naples (529 000), the greatest city, is a place of the small enterprise, for its import, mainly grain cereals three or four times value its export which is mainly the cheap country, make. Milan (457 000) and Turin (348 000) is great shopping centres of northern interior, and the most succeeding places in kingdom, being the main places of the industry throwing silk. Milan - also the main place of the Italian manufacturing of a tableware. Palermo (284 000) and Messina (150 000), in [119] Sicily, is the main ports for export of the Italian fruit, and also the Italian fish
(Anchovies, tunas, etc.). Rome (474 000) and Florence (207 000) owes their main importance to their art interest and their historical associations, but Florence has an important manufacturing of fine ceramics and mosaics. Rome - the main place of the government. Drivings (127 000), in Sicily, is the main place of the Italian chartreuse export trade. Livorno (104 000), port of Florence, is the main place of export trade braiding straw. It is necessary to notice, that despite degree of Italy of a coastal line the most part of its foreign trade is spent to the north by means of railways that tunnel the Alpes.
Italy and its main commercial centres.
[120]
V. TRADING FEATURES OF RUSSIA
RUSSIA, THE COUNTRY, WHICH FUTURE - THE PROBLEM

The parties to a waybill three - the consignor, грузополучатель, and the

The parties to a waybill three - the consignor, , and the transportation company. The declaration of that has received the goods in a good condition and a condition, and the consecutive obligation subsequently expressed, their deliveries in a similar good condition and a condition, is considerably reduced in its importance according to the additional point now accepted almost by all companies namely, transportations: 'the Maintenance and a condition of the maintenance [62] from packages
The unknown person. 'Owe the goods or their part to be sent in the damaged condition, or in a bad condition of packing, the note to that effect should be made by the transportation company on a waybill which stops then to be the bill with loading amendments.
Local waybill.

[56]

At various times the government of the United States has let out bonds to release exchequer
[56]
At various times the government of the United States has let out bonds to release exchequer. These bonds are absolutely safe and are always market. The registered bonds have a name of the registered buyer; not registered bonds - the check payable to bearer. Municipal bonds are let out by cities and other municipalities to lift money for local improvements. If appropriate precautions are taken by buyers, municipal securities can be considered among the most safe and the majority of remunerating investments.

Australia - continent not only on the name, but also actually

Australia - continent not only on the name, but also actually. Its area, including Tasmania, makes almost 3 000 000 square miles which is about area of the United States, exclusive of Alaska, and only approximately one quarter has less than area of continent of Europe. Completely two fifth this lie of area within a hot zone, and the others, even to Victoria, a part, the most distant from equator, a climate so , that it corresponds that from Spain, southern France, and Italy. But on so extensive territory the big distinctions of a climate should occur, and therefore products also. The general description of a climate and products of Australia therefore are impossible. Nevertheless there are some features which belong to the whole continent. Their head (1) big drought of atmosphere - it is not simple its shortage of a rain, but its absolute freedom from humidity; (2) remarkable inequality, or the regularity, in a downpour want. Sometimes the downpour is excessive, but more frequent and serious reason of trouble - an excessive drought. The continent on each party has a low area of coast where the downpour is heavier also temperature, in general hotter than in a corresponding interior of a plateau to it. But the extensive plateau of an interior has rather small rain, and is valid in some parts of it, especially in the centre and the West, the downpour is so small, that the country - actually desert.

Dealers of the Commission receive and sell the goods belonging to another for indemnification,

Dealers of the Commission receive and sell the goods belonging to another for indemnification, named the commission. The trading agent - the person who represents the manufacturing industry enterprise in its business relations with trade. The factory can be located in a small city while the trading agent has its office and samples in heart of the big city. As to quantity of the goods bought or sold in the unique transaction, trade is divided into wholesale trade and retail. The wholesale dealer sells to other dealers while the retail dealer sells to the consumer that is, to the person who consumes, or use, the goods. The intermediary - the one who buys from importers and manufacturers and sells to retail sellers. It constantly is in the market for transactions. The intermediary of names and the wholesale dealer are often used in the same sense, but the intermediary sometimes sells to wholesale dealers. Wholesale trade has a reference to quantity which the dealer sells, instead of on a source from which he buys, or the person to whom he sells. The wholesale dealer, as a rule, deals in the goods of the main products that is which are a used season after a season - though certainly in actually all firms there are wholesale dealers.

Estimations

Estimations. Some companies will organise with understanding, that the certain percent from nominal value of actions should be paid during a subscription, and that the future payments should be made during such times and [46] in such quantity as the company can demand. Under these conditions
Shareholders are estimated every time when money is necessary. Such estimations are homogeneous on all shareholders.

It to be essential by an agency life that its messages [261] fair and free from any element of

It to be essential by an agency life that its messages [261] fair and free from any element of doubt. The public confidence of reliability of messages will be
Define company prosperity. Probably at first sight it would seem, as though the system of the message on the financial information was serious discrimination against men of the smaller capital and in favour of the rich man. But the simple capital not the unique element entering an estimation of ability to pay. Character and reputation - strong forces in the help to the dealer in credit definition. The agency opens the facts and not opinions. And it within a range of possibility of any to create and support its credit. The capital can gradually grow, but the credit sometimes is established or collapses the unique certificate.

To interest of dealers or bankers deal [36] in foreign accounts to buy them where they are the

To interest of dealers or bankers deal [36] in foreign accounts to buy them where they are the cheapest and to sell it where they are the most expensive.
For this reason it could advantage to the New York dealer is frequent to be to buy the account on London, to pay a debt in Paris.
The bill (banker).

Note date - a question of the first importance

Note date - a question of the first importance. Some bankers and business men believe, that it pulls the notes which are subject to payment during certain motionless time as, 'I promise to pay March, 10th 1897 is better.' The general custom should make notes subject to payment certain number of days or after months after date. The note which made or has been let out on Sunday, is void. Day of a maturity - day in which the note legally should. In several of States the note not legally should about three days named on days of grace, after the expiration of time defined in the note.
The promissory note is filled on the engraved form.

The irrigated Stock

The irrigated Stock. When the stock is let out to shareholders without increase in the actual capital, a stock as speak, has been irrigated. The company can organise for, say, 10 000$, and can wish to increase to 50 000$, not adding to number of its shareholders. Each holder of one action, in this case, will receive four new actions, and in the future instead of receiving the dividend on one action will receive the dividend on five actions. The object of it consists in, rather usually, to avoid the state rights demanding that certain corporations have paid surplus of profit on the established percent of norm. In the state exchequer.

The check - the order concerning the money, the delayed themes who has funds in the bank which is

The check - the order concerning the money, the delayed themes who has funds in the bank which is subject to payment on demand. Banks give checks without a sum designation to their clients, and it is very simple question to fill them properly. In writing in quantity begin in extremely left of a line. The examples resulted here, show badly written check and a copy of the same check after it has been lifted'. The original check was for 7.50$ and shows very negligent arrangement. It was very easy question for the roguish receiver to change'seven'on'seventy'and to add the code number to quantity in numbers. The running line has been written in on the lifted check to deceive bank. In this case Carter instead of the bank should transfer loss. Carter cannot consider bank responsible for its negligence. Boxes of checks should carry out the greatest care in writing in quantity to prevent changes or additions. Pull a running line, thus: ~~~ Nine ~~~ before and after the quantity written in words. If words are begun close to a left edge run [241] ning the line will be necessary only in
The right. The signature should be in your usual style familiar to the paying cashier. The plain, freely written signature is the most difficult to forge. Usually checks are delayed, 'to order.' Words 'Pay John"s Brown to order', mean, that money should be paid to John Brown or any person, he 'orders', that it has paid. Confirming the check in the form (see ) it does it by the check payable to bearer. If the check is delayed 'the Payment to the bearer' the person that is, the bearer collects it. The paying cashier can ask the [242] persons, the check exchanging for money to write his name on a back, easier to have it for the reference. Safety controls to
Prevent a fake of checks, have almost infinite variety, but was not preventive against a fake and the changes still invented which has not been successfully overcome by swindlers. The car to strike a number fist is together use, but the swindler was successfully filled in apertures in paper weight and has struck a fist other numbers to satisfy to its purposes. The most safe checks - carefully written that is known as a safety paper.
FOOTNOTE:

In the monetary market in New York there is a constant delivery of exchanges (projects) on London,

In the monetary market in New York there is a constant delivery of exchanges (projects) on London, and in London constant delivery of exchanges to New York.

Within the period approximately fifteen years the continent of Africa was a scene of extensive

Within the period approximately fifteen years the continent of Africa was a scene of extensive division. In the beginning of that period the quantity of the African territory which was subject to the European control, was rather small. British have been fixed in Southern Africa, and had property along coasts in other place mainly in the west. Frenchmen have been fixed in Algeria and in Senegal. Portugueses had their ancient settlements in Mozambique and Lower Guinea. Morocco in the northwest and Abyssinia in the northeast were more or less known governments which were independent. Egypt in the extreme northeast, with the dependent property stretched along Nile in a far interior of continent, was also more or less known government which possessed though it nominally depended on Turkey. But in other place, except in several other places which the European power operates, the whole continent can be described as being in its original state of wildness or semiwildness. No government existed somewhere which was or is salutary or steady. Slavish movement was available in a considerable quantity everywhere.
[158]
THE EUROPEAN SPHERES OF INFLUENCE IN AFRICA

Бодмерейный the contract - some kind of заклад, specific to shipment

the contract - some kind of , specific to shipment. It is vessel transportation as safety for the advance payments, made to the owner. If the vessel is lost, the creditor loses the money and has no requirement against the owner personally. It is admissible for the loan made after such obligation to have any percent over legal norm. The vessel arriving to foreign port, can demand repair and deliveries before it can proceed further on its flight, and in cases of this kind [57], the obligation is given. The owner or the owner promise or the basis of a part of a vessel-a, actually, for whole as safety.

In the letter and signing of checks use good profit and to allow a copy to dry a little before the

In the letter and signing of checks use good profit and to allow a copy to dry a little before the blotting paper is used.

The check - the order concerning the money, the delayed themes who has funds in bank

The check - the order concerning the money, the delayed themes who has funds in bank. It is subject to payment on demand. Actually, it is the kind project ashore. Banks give checks without a sum designation to their clients, and it is very simple question to fill them properly. In writing in quantity begin in extremely left of a line.

Rio Janeiro (674 972), the capital and the basic city though an is poor-looking place, one of very

Rio Janeiro (674 972), the capital and the basic city though an is poor-looking place, one of very finest in the world is located on magnificent harbour. Approximately in 1500 courts, with the tonnage making 2 500 000 tons, enter in Rio Janeiro with foreign trade annually. Nine thousand miles of the railway have been constructed in Brazil, and 3500 more during building, and 12 000 miles of routes of telegraph have been constructed. Rio Janeiro - the main railway centre, but other centres - Rio Grandes, do Sul, in moderate areas of the south, and Bahia and Pernambuco, in tropical areas. The public (national) debt of Brazil far does not require in 1 000 000 000$, having interest (the most part of it) in from four to six percent. In a year.
[187]
XII. TRADING FEATURES OF CANADA
CANADA, ACTUALLY INDEPENDENT FEDERAL REPUBLIC

Guaranteed Stock

Guaranteed Stock. The guaranteed stock differs from preference shares in it is that it is called on the guaranteed dividend (interest) before all other classes of a stock, whether the company earns necessary quantity in any year or not. This right is transferred from year to year, thus giving the actions absolutely provided to interest.

In municipal corporations in the United States participants - citizens; number vaguely; everyone

In municipal corporations in the United States participants - citizens; number vaguely; everyone stops to be the participant when it moves from a city or a city while each new inhabitant becomes the participant when [227] according to the law it becomes the allocated right to privileges of local citizenship. In the corporations created for
Earnings of their interests of participants are presented by actions which can be transferred their owners, and the representative becomes the allocated right to the rights to membership when transfer is registered; and if the owner dies, its personal representative becomes the participant now. In such corporations also divides, can be sold in satisfaction of debts against their owners.
ADVANTAGES OF CORPORATIONS AND JOINT-STOCK COMPANIES ON ASSOCIATIONS

All all over the world Southern Africa are known for its diamond mines and its gold mines

All all over the world Southern Africa are known for its diamond mines and its gold mines. Diamonds are found mainly in Griqualand, to the north from the Orange River, now a part of the Colony of Cape, but they also are found in Orange Free State. Diamond areas are very limited, 'pipes' which as assume, were craters of extinct volcanoes. Basic 'pipes' in Kimberley (28 718), in Griqualand. They make the richest diamond areas in the world. It is considered, that value for more than 350 000 000$ diamonds has been taken out from Kimberley since their first opening there in 1867. The greatest South African diamond nevertheless found, cost 300 000$, but many other big have been found. Annual diamond export makes now approximately 20 000 000$. For 1896 export made 23 200 000$; on 1897 it is little bit less. Manufacture and export are strictly limited, so that the prices, probably, did not depreciate. Then in interest for diamond areas gold mines. They while have been found mainly in the south of [164] African republic, or
'Transvaal' as it usually name, in '', or 'reef', about the known city of Iogannesburga (102 078). As gold at first was revealed in (1871), value for 250 000 000$ has been taken out. Annual development makes now almost 50 000 000$, but it is considered, that before can be settled, value for 2,250,000,000$ gold should be - quantity, it is much more than a full public debt of the United States, national, the state, and municipal. But to the north from , in , especially in Mashonaland, the territory usually named 'Earth Ophir,' where extracting operations are just begun, but where gold as it is supposed, it is even more richly kept than in . From this area recently constructed city of Salisbury - the centre. Other mineral products of Southern Africa - coal in , extracted in Newcastle, and copper in the northwest of the Colony of the Cape sent in Port Nolloth.
FOREIGN TRADE OF SOUTHERN AFRICA

Brazil - much more the big and more densely populated country than Argentina

Brazil - much more the big and more densely populated country than Argentina. Its area (3 209 878 square miles) is such size, as area of all United States, smaller quantity of half of Alaska. The most part of this area has extremely tropical riches of manufacture. But, unfortunately, the most fertile parts of Brazil - parts, the least suitable for settlement white. The population last census - approximately 14 500 000, but is less than 4 000 000 of this population - pure white. Negroes who were recently slavish number more than 2 000 000, and there as it is supposed, are approximately 1 000 000 Hindus. An intermediate link between Hindus and Negroes and the white population - the numerous mixed races or hybrids. The agriculture [185] main industry, but is two kinds: tropical agriculture
From the central and southern central coast which is continued mainly by work of the Negro and the mulatto, and agriculture of moderate area of the extreme south which is continued mainly by colonists from Europe, the recent European emigration almost completely directed to that area. All interior of Brazil still remains unresolved and untilled. The crop of coffee of Brazil is huge and is the basic product. Manufacture makes 8 000 000 bags or more than 1 000 000 000 pounds annually which is more than two thirds of total sum of the coffee used in the world. The Labour party for coffee is insufficient also road, and in earlier stages of manufacture of a berry awfully consider the Brazilian coffee. But cars are used everywhere where probably, and in later stages of manufacture the Brazilian coffee receives the best attention which can develop skill. As consequence the product of coffee of Brazil raises on an estimation of users of coffee. Bushes are grown up under palm trees to hold them from an intensive heat of the sun. In a year three or four crops of berries are received. Rio Janeiro and Santos - two main centres of the industry of coffee. Near to coffee the main tropical product - the sugar, which export makes approximately 250 000 tons annually, mainly of Pernambuco. Other products of tropical area of Brazil - cocoa and a clap, from cultural areas of coast, and rubber and the Brazilian nuts, from dense woods of lower Amazon; also dyewoods and office woods, drugs, and diamonds. Brazil is a lot of years was celebrated for its received of diamonds basically from a city in an interior by name of Diamantina. Existing diamond manufacture is not big. From moderate agricultural area of the southern, dried up beef, disappears, and oil - the main export. The greatest client of the Brazilian makes, the Incorporated [186] states, which beret value for 70 000 000$. The Great Britain is following, with
Value for 35 000 000$ (in one only rubber in 15 000 000 1896$). Brazil receives its goods mainly from the Great Britain, the United States, France, and Germany - from the Great Britain 20 000 000$, from the United States 13 000 000$. Import includes almost all articles necessary for internal and industrial claps wood is more whole especially and woollens, the hardware goods, cars, the flour, rice, has dried up meat, kerosene, oil, and fish. Is, however, 155 cotton factories established in Brazil, with the capital to value 50 000 000$, and cotton manufacture is protected by very heavy duties. But agricultural cars and such as manufacturing are very slightly imposed by the tax. The basic food of people - a flour ().
JANEIRO

With such letter the traveller could make a trip round the world and not have in its pocket at any

With such letter the traveller could make a trip round the world and not have in its pocket at any moment some more gold or silver or accounts, than it will be necessary to meet the operational expenditure.

When the new enterprise of the railway is undertaken, its patrons often expect to force road not

When the new enterprise of the railway is undertaken, its patrons often expect to force road not only to deliver money for its building but also and to give a working capital besides. It is made by a problem of mortgages. Non-payment in interest payment throws road to receiver hands. Securities immediately fall in value and is possible syndicate of crafty speculators which allow to reorganise road and its management. It is history of many of our roads. There are unusual cases, of course, but the investor should be familiar with the facts before to buy the railway.

The irrigated Stock

The irrigated Stock. When the stock is let out to shareholders without increase in the actual capital, a stock as speak, has been irrigated. The company can organise for, say, 10 000$, and can wish to increase to 50 000$, not adding to number of its shareholders. Each holder of one action, in this case, will receive four new actions, and in the future instead of receiving the dividend on one action will receive the dividend on five actions. The object of it consists in, rather usually, to avoid the state rights demanding that certain corporations have paid surplus of profit on the established percent of norm. In the state exchequer.