Expenditures of the Russo-Japanese war / by Gotaro Ogawa.

208 ECONOMIC EFFECTS OF THE RUSSO-JAPANESE WAR
MANUFACTURING INDUSTRY, I903-I907
Year Number of companies Paid-up capital Reserve fund
Yen Yen
1903........2,441 I170,346,340 29,966,661
I904........2,384 162,836,203 27,873,181
1905........2,449 189,414,059 45,626,962
1906........2,546 267,11 I8,424 64,521, 81I9
I907........2,847 381,815,109 64,564,944
COMMERCE, I903-I907
Year Number of companies Paid-up capital Reserve fund
Yen Yen
1903........5,955 451,680,028 110o,872,204
1904........5,609 455,822,613 143,070,528
1905........5,630 466,404,498 147,276,299
1906........5,840 500,588,598 i67,i96,286
1 907........ 6,197 569,486,328 197,558,374
TRANSPORTATION, I903-I907
Year Number of companies Paid-up capital Reserve f und
Yen Yen
1903........702 262,382,936 24,004,444
I904........682 309,412,473 28,11I0,246
I905........696 316,649,008 31,402,272
1906........684 31I7,378,704 25,910,892
1907........734 150,891,189 24,774,265
AGRICULTURE, I903-I907
Year Number of companies Paid-up capital Reserve fund
Yen Yen
I903........249 3,1i96,886 223,494
1904........238 3,220,857 I174,073
I905........23I 3,688,990 403,368
1906........250 4,870,357 317,941
I907........309 I12035,192 387,I25

The decrease of capital must have been primarily in the
manufacture of goods for home consumption, especially in
those branches of industry which turned out articles other