These figures show an estimated supply to the end of June next of 21,782,000 lbs., and an estimated consumption of 28,802,000. The former is based on the statements that the available supply for the United Kingdom will be 55 million pounds, and the latter on the actual delivery to January inclusive, and estimated average deliveries of 4,500,000 lbs. a month for the remainder of the half-year. Having these figures before us, we can proceed to calculate the effect on stocks. At 31st December last we had in warehouse lbs. a stock of 21,716,000 Add six months’ imports to June 30th 21,782,000 ---------- Total supply 43,498,000 Deduct estimated deliveries six months 28,802,000 ---------- Leaving probable stock at 30th June 14,696,000 Which will compare with (at 30th June, 1882) 15,991,000 In stating the deliveries at an average of 4,500,000 lbs. for the next five months, we have taken this amount merely for the purpose of arriving at a conclusion. In case the deliveries of the months of February to June inclusive average, as is generally expected, 5,000,000 lbs. a month, the stocks at 1st July next will be under 12,200,000 lbs., or 3-3/4 million lbs. less than at the corresponding date. We can but consider this a very healthy outlook, especially as it is simultaneous with the estimated decrease in the supply of China Tea, and the possibility that the shipments to the United Kingdom may not reach the estimate. With respect to the latter contingency, we must recollect that new markets are being rapidly developed for Indian Tea. Australia, America, and other parts than the United Kingdom took over three million pounds from 1st May to 31st December last year, compared with less than a third of that quantity shipped thence from India in the corresponding period of 1881. A continuance of this rapid rate of outside demand would considerably curtail our supply, and develope the growing Indian industry. GOW AND WILSON, _19, Little Tower Street, London, E.C._ The diagram omitted shows as follows: it gives the results quarterly, I only give them yearly in millions of pounds. CONSUMPTION OF CHINA AND INDIAN TEAS IN THE UNITED KINGDOM FOR THE LAST FIVE YEARS.