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“...breach of contract by short supply. It is
stated that the Formosan mills have been trying, but unsuccessfully, to
repurchase sugar sold by contract in order to avoid this fine. Mean-
while, Java sugar has declined in price, and sugar of the same quality
as that from Formosa can be imported into Japan at 10 yen (li. 0s. 5d.)
per picul, including customs duty of 3 yen 50 sen (7s. Id.). The
contract price of Formosan sugar for delivery to the Japan refineries
is, however, 8 yen 50 sen (17s. id.), and it will be interesting to see
how the question will be settled, whether by the refiners exacting
the fine agreed upon or by the producers making up their deficit by
the purchase and delivery of Java sugar, which they can do at less
cost.
At the close of the year 1911 there were 17 companies owning
32 modern style mills with a total crushing capacity of 24,4-50 tons
of cane per day. Of these mills, 11 with a total crushing power of
7,200 tons commenced working in the 1912 season. The total paid-...”
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“...the Japanese
local Press that the actual area under cane for the crop of 1913 is only
65,000 ko (157,300 acres). Another report which lends credibility
to this is to the effect that there is a tendency on the part of the mills
to acquire land and grow at least some part of the cane they require
instead of relying on their power to persuade the farmers in their
respective districts to grow sufficient cane for their requirements.
Last year saw the sale of the only two foreign owned mills in the
island to a Japanese company. They were owned, the one by a local
British firm, the other by a British company in which that firm held
a large interest. The vendors were paid mainly in shares of the
Japanese company, the capital of which was proportionately increased.
Three mills, with a total crushing capacity of 1,650 tons, are
expected to commence working in the season 1913 (November, 1912).
The Formosan Government has decided to open a sugar examining
office at Takow from April 10, 1912, whose...”
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“...being built in Taihoku for the trunk
line.
Private lines.—At the end of December, 1911, there were 648 miles
of private railway owned by 11 sugar companies. Of these, 630 miles
have a gauge of 2 feet 6 inches ; 153 miles are open for public traffic ;
the remainder are used exclusively by the companies owning them.
There were 240 miles of private light railways, of which 186 miles
have a gauge of 1 foot inches, the remaining 54 miles of 2 feet.
With the exception of 47 miles owned by six sugar mills and a camphor
works, these lines are owned by transport companies and are open
for public traffic.
The Government railways appear to have done well in the financial
year 1911-12, their revenue amounting to 495,000/. as against an
(674) B 2...”
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