Japan: the Petroleum Situation in Note by Secy.

imports and production on the one hand and civil and Government consumption on the other from 1st January, 1929 to 31st December,1940 (see Appendix I) which gives the following results. Civil stocks on 1st January, 1929 were estimated to have amounted to 400,000 tons. During the following six years there is no sign of any abnormal imports, but it is thought that civil stocks probably increased to 750,000 tons, since the gradual increase in civil consumption would have necessitated such an increase in order that the normal ratio between stocks and consumption might be maintained.