SPECIAL REPORTS FOR FEDERAL TRADE COMMISSION. 225

there is little or no commission business being done at present. Instead
 there has grown up a body of exporters who, as a rule, buy
outright from the mills, some buying on fixed orders and others
taking a mill’s whole output for a certain period, and then making
their own profit on the exports.
Finally, on April 1, 1914, the leading Japanese exporters of cotton
goods to Manchuria organized the Manchurian Cotton Exporters’
Association, with headquarters at Osaka, Japan. Its declared object
is to enhance the reputation of Japanese cotton goods in Manchurian
markets by stopping the export of goods of inferior quality and to
maintain standard prices. The chief members comprised the Mitsui
Bussan Kaisha, the Japan Raw Cotton Co., which trades in Manchuria
 under the name of Nisshin Yoko, Okura &amp; Co., Yussa &amp; Co., the
Kyoyakaisha, the Komei Yoko, the Yeijun Yoko, etc. This association
 was allowed for one year a rebate of 10 per cent on the freight
rates furnished by both the Imperial Government railways and the
Chosen railways, provided all their consignments combined exceeded
5,000 tons pe annum. Smaller rebates were given in proportion to
the size of the shipments. The privilege was renewed in April,
1915. At the instance of the Japanese and Chosen railways, a reduction
 of freight of 30 per cent on 11 kinds of through cargo carried
by the Antung-Mukden Line, including cotton piece goods and yarn,
was inaugurated by the South Manchuria Railway on May 1, 1914,
A similar reduction in favor of the steamer-borne cargo was extended
to the same goods when carried by the main line of the railway from
the terminal points, Dairen and Newchwang. These factors, combined
 with the agreement of May 29, 1913, under which dutiable
goods imported into Manchuria from or through Chosen, and exported
 from Manchuria to or through Chosen, by rail via Antung,
are allowed a rebate of one-third of the tariff duty, have had marked
influence in encouraging the trade in Japanese cotton goods. However,
 it must be admitted that these reductions in freight and duty
are greatly stimulating trade in general.
The principal company connected with both the syndicate and
the association is the Mitsui Bussan Kaisha. This company is known
in America and Europe as Mitsui &amp; Co. It is not only one of the
foremost commercial firms of Japan, but it is also among the most
progressive and best-organized trade Serhemations in the world. The
company’s staff contains able and sterling business men, who are
among the most representative in the economic system of Japan.
The company is careful about the personnel in its organization and
its staff. It is capitalized at 20,000,000 yen, with a reserve fund
of 15,000,000 yen. It is staffed with 1,525 officials, clerks, etc. In
the diversity of lines of business in which this company is engaged
it is probably unique:

Coal contractors to the Japanese Army, Navy, and arsenals, State railways,
industrial works, and home and foreign mail and freight steamers.
Sole proprietors of many well-known coal mines in Japan, and sole agents
for many other coals.
Importers and exporters of cotton, cotton yarn, cotton piece goods, bookbinding
 cloth, copper, silver, tin, lead, and other metals, railway material, acids,
camphor, flour, cereals, manure, opium, isinglass, mushrooms, sugar, wax,
vermicelli, sulphur, hemp, beer, cement, cigarettes, matches, paper, hides,
leather belts, teak and other timbers, machinery, etc.
27941 —pr 2—16—185