— 38 — Due January 6th, at 20.50 marks Freight, New Orleans-Hainburg-Riesa (Elbe)-Cheninifcz Expenses in Hamburg Petty charges Brokerage ...

Gross 6 per cent, tare Marks.

69,894.60 5,847.55 412.20 271.00 87.00 76,512.35 Pounds.

224,058 13,443 210,615 This statement analysed shows that the gross cost of this shipment from New Orleans to Chemnitz was 76,512.35 marks. Reduced to its United States equivalent, this amounts to .'$18,217.22. Deducting from this the cost of the cotton at New Orleans, we have $2,813.24 as expenses incurred from New Orleans to Chemnitz. Dividing this total expense by the gross weight of the cotton, we find that the expense of the entire transaction between New Orleans and Chemnitz was IJ cents per pound.

With the above statement may be compared freight and charges on a consignment of cotton shipped from Khartoum to Liverpool and sold through the agency of a local bank in June, 1914.

Cost of Shipping 142 Bales (22,675 lbs.) or Cotton, Khaetotjm to LrVEKPOOL.

Expenses, Khartoum to Liverpool £E. Mills.

Cost of pressing, weighing and baling, including bales at 70 m/ms. a kantar 15-873 Transport to station at 8 m/ms. a kantar ... ... ... ... 1-814 Preighi>—Khartoum to Port Sudan at £E.2.620 a ton 29-704 Customs export dues ... ... ... ... ... ... ... 4.535 Freight—Port Sudan to Liverpool at £E.2.610 a ton 29.477 Insurance ... ... ... ... ... ... ... ... 9.070 120 days' sight on London at 6% 9.100 Difference in weight between Khartoum and Liverpool, 1J% ... 10-204 Expenses at Liverpool (from Account Sales) ; Charges on 142 bales Porterage Dues Housing, mending and storing Rent Insurance Brokerage and Commission Khartoum Charges : 1% Commission and Brokerage J% Exchange 109.777