The British Consul at Guayaquil reports that a new business has commenced in Guayaquil in 1903, viz, the trade in alligator skins. In that year the first exports, in all, 15 tons, were shipped. In 1904 the business had increased to 92 tons, and in 1905 to 115 tons. There is only one firm engaged in the business, which is established in Guayaquil and Samborandon.

COFFEE EXPORTS.

The figures for coffee exports from Ecuador in 1905 give a total of 4,795,100 pounds; the amount of home consumption is not known. The exports were chiefly to the neighboring Republic of Chile, and prices ranged from 36s. to 43s. per 100 Spanish pounds, cost, freight, etc., which is considered higher than could have been obtained in any other market. California bought very little, indeed, of the 1905 crop, but is now eagerly inquiring after the new crop which is about to commence. This promises to be a very good one, and should be in earlier than usual. Indeed, some supplies have already come to hand.

PROJECTED RAILWAY LINES.

Among the railway lines projected by the Executive Power of Ecuador there are the following, according to the London "Commercial Intelligence" of August 15, 1906:

1. From Puerto Bolivar to Machala and cocoa haciendas of that Province, which has been built and is already running as far as the cocoa district of Pasaje, and serves to bring down to market a fair amount of cocoa. The extension of this line, which is being built entirely by the local country authorities with funds provided by taxes on cocoa and other products, is to be throughout the cocoa district and to terminate in El Guabo.

"2. From Bahia de Caraques to the cocoa district of Chone, which has been partially built (also by funds locally provided by taxes on imports and exports) from the terminus for 2 or 3 miles in the direction of Chone, but is not yet open for traffic.

"3. From the interior to the Amazonian regions, called the Curaray road, from the river of that name. This is also to be worked by special funds set apart for the purpose and administered by the local authorities.

“4. A railroad from Manta to Santa Ana. This is a private enterprise on a concession obtained by a local firm (VOLLCKER & GOZENBACH, of German and Swiss nationality), to be carried from the port of Manta through the tagua and coffee districts of the northern part of the Province of Manabi.

"5. A railroad to Salinas on the Pacific coast, close to the point of Santa Elena, to the north of the Gulf of Guayaquil, has been proposed. The terminus of the line is Salinas, whence the salt supply of the entire Republic is obtained."

KAPOK SILK COTTON.

Kapok is a new article of export in Guayaquil, being the fiber of the Bomba ceiba, or silk cotton tree. It has been inquired for from California, Liverpool, and Belgium. The product is gathered from the

districts lying along the coast between Guayaquil and Manta, at Puna, Bahia de Caraques, and many other places. The price paid varies from 12s. to 18s. per quintal (100 pounds), uncleaned. The loss of weight in cleaning is about 50 per cent, consisting only of oily seeds, parts of the pod in which it grew, and the inner core of the pod. There is no doubt that a very large quantity of this could be collected in the country but for the fact that there is such a scarcity of labor, and also that the people in some of the districts where it is gathered find the manufacture of hats more remunerative. The quantity of kapok exported is, so far, small-in 1902, 21 tons; in 1903, 23 tons, and in 1904, 18 tons.

GUATEMALA.

ECONOMIC CONDITIONS IN 1905.

A British consular report on the trade and finances of Guatemala, issued by the Foreign Office, states that Guatemala has made further strides as regards financial recuperation, and 1905 was marked by another large increase in the general volume of trade. The value of imports for 1905 has bounded up to £1,368,889 from £1,008,228 in the preceding year, the largest part of the increase coming from the United States. The United Kingdom is second, and has succeeded in maintaining her percentage of the trade. The increase of revenue, too, is not only large, as expressed in the paper money of the country, but is also substantially greater when converted into gold, as the premium on gold has been almost continuously falling.

The ordinary revenue for 1905 shows a considerable increase, the figures for the year being $34,058,169, equal to £549,325, against $30,315,413, or £418,455, in 1904. Sums received for extraordinary revenue are not entered in the account. The ordinary or administrative expenditure amounted in the same period to $20,421,383, or £329,377, of which nearly one-half was for military expenses. A further sum of $24,971,000, say £402,758, was devoted to repayment of current obligations. From the above it will be seen that there is a surplus of $13,636,786, or £219,948, of ordinary revenue over ordinary expenditure. According to the official statement, at the end of 1905 the external 4 per cent debt stood at £1,842,526, no redemption having taken place nor any interest having been paid during the year. The internal debt has been slightly added to, bonds having been issued for small amounts in exchange for certain documents. The total amount was, on December 31, 1905, $3,620,754, equal to £62,427. Although no interest has been paid, a marked speculative movement has taken place in the bonds, the price moving up into the neighborhood of par. The assets are valued at $42,990,407, or £741,213, but