Several of the leading mercantile houses in the Presidency have agents in Cocanada (among them Messrs. Ralli Bros., Messrs. Gordon, Woodroffe & Co., Messrs. Volkart Bros., Messrs. Wilson & Co., Messrs. Ripley & Co. and Messrs. Best & Co.) and in addition the place is the head-quarters of several other substantial European firms, who are engaged in general trade and own local undertakings of various kinds. Messrs. Simson & Co. own a rice-mill and act as agents for the Asiatic Steam Navigation Company; Messrs. Hall, Wilson & Co. are agents for the British India line and were part-owners and local managers of the Oriental Salt Company, which until recently was working the salt-factory at Jagannáthapuram; Messrs. Innes & Co. are managers of the Coringa Rice Mills Company; and Messrs. Barry & Co. have a cheroot-factory where cheroots are made for export to Burma. There are also a great number of native merchants in the town. Indeed the mercantile importance of the place is so considerable that the Bank of Madras has a branch there under a European Agent, and both native and European Chambers of Commerce have been constituted.
The European chamber at Cocanada was established as long ago as 1868. Representatives of the leading European firms and the local Agent of the Bank of Madras are members. Its objects are 'to watch over and protect the interests of trade, to collect information on matters bearing thereon, to communicate with authorities and individuals upon the removal of grievances and abuses, to decide on matters of customs and usage . . . and to form a code of practice whereby the transaction of business may be facilitated,' and it has displayed much activity in all these directions. The practice of annually printing its chief proceedings, which was inaugurated in 1903, is to be continued. The native Chamber of Commerce is theoretically quite independent of the other; but generally the two bodies work hand in hand.
The port is visited by the British India steamers, as many as six or seven of which often call in a week; by the Asiatic Steam Navigation Company's boats, two of which call every fortnight; and by the Clan Line steamers, three or four of which come every month. The Austrian Lloyd steamers and those of a Venetian company call occasionally.
In 1902-03 (see the figures in the separate Appendix to this volume) the total value of the export trade of Cocanada amounted, in round figures, to Rs. 1,22,80,000 and that of the imports to Rs. 25,10,000, making up a total trade of Rs. 1,47,90,000 or £986,000. In the statistics of that year the port takes the fifth place among those of this Presidency —
