=Germany.=--Germany, prior to 1914, consumed about 20 per cent. of the world’s annual output of antimony. Her own resources of antimony are insignificant, and German interests in foreign deposits have not been widely extended but were rather those of smelter and middleman, raw material being drawn chiefly from China, and metal and salts being exported to the United States, Russia and Great Britain. During the war Germany drew largely upon Hungary for antimony supply, but it is known that this source could not adequately meet the demand. =Japan.=--Japan’s actual consumption of antimony has never been large and before the war was confined largely to the production of “white metal” boxes, trays, and other articles. During the war her importance in the antimony trade rested upon her ability to supply a large part of the needs of the Allies, principally Russia, and later the United States and Canada. How long after the war she will be able to retain her position is uncertain. Favorable freight rates to Japanese shippers, and the fact that the present high price of silver and the consequent exchange conditions affect adversely Chinese production may enable Japan to continue a factor in the antimony trade. RECENT CONDITIONS IN THE INDUSTRY Owing to the very high prices prevailing for antimony during 1915 and 1916, caused by a greatly increased demand for antimony for the manufacture of munitions, several countries became large producers. The most important among these were Bolivia, Mexico, and Algeria, but Victoria and the United States, Peru, Burma, and Spain all contributed substantial amounts. With the possible exception of Algeria--whose principal mines yield considerable lead and zinc and are situated near to French reduction plants--and of Mexico, none of these countries will be important factors in the production of antimony at the usual low prices prevailing for that metal.