210
Latest figures are $500 to $655 for Oily, and $550 to $600 for Paper-wrapped according to quality.
To-day's stocks are estimated as under:: New Patna.
New Benares
Malwa
Persinn
280 720
31
COURSE OF THE HONGKONG OPIUM MARKET.
DATE.
TATNA.
BENARES.
MALWA
New. Old. New. Old New. Ola.
$
1897. $
*
$
Sept. 1
730
7821
Sept. 2
7373
7321
Sept. 3
737
Sept. 4
7421
710
Sept. 5
7421
741
Sept. 6 742)
740
Sept. 7:40 Sept.
740
740
740
$
$
870/900 920 940 870 900 920 940 $70,900,920, 940 870 900 920 940 870 900 920 940 870,900 920 940
THE HONGKONG WEEKLY PRESS AND
not induced by any legitimate demand from outside markets. These are certainly not in us satisfactory a state as could he wished, particu- ......1,50 chests.larly as regards the north. No complaint can be
510
made so far as to the quantities taken this year, nor probably will there be for the rest of the scnaon, but a serious obstacle is gradually being built up that threatens to surp the English and American trade in the Northern provinces, the latter more especially, in the near future. This is the quiet but steady alvance of the Russians into Manchuria. While the two nations most concerned, from a commercial point of view, are apparently quite in lifferent, she is slowly but surely absorbing that valuable province. She is 870 900 920/940 quietly mbilising her troops and has already there an army of 50,000 men, while Russian steamers are running on the river as far as Kirin. China is under her thumb and dare not move, and the treatics mad, or pending, between Russia, France, and Germany, as recently reported by a significance that Anglo-Saxous $70,000,920,940 Reuter, have
interested in this part of the world had best beware of without delay. To return to what more nearly concerns the current trade, clearances of former purchases contiane to go ou satsfactorily, and it looks now as thong's the Autumn settling day, which falls in about a week's time, will be tied over without much trouble. Until that is pissed it is extremely unlikely that any business will be done, but some of the natives feel confident that after it is over it will be possible to once more resume trade. Nothing whatever has been done for forward delivery, there being a very wide margin between the ideas of indentors and prices ruling in Minchester. One firm informed us that they did not put through a single package last month for the Spring trade, while during August last year they booked over 3,000 packages and the same thing applies practically to the whole trade. It is difficult of course to get out of 2.81 to 2.89 the natives the prices that are being obtained in the country for their goods, or whether they have been able to get any appreciable advance; this can only be arrived at when present supplies are exhausted and fresh orders come to hand.
1
COTTON. COTTON, 8th September.-Absolutely no basi- ness done. Stock, about 24 bales.
Bombay
$17.50 to 18.50 p. pl.
16.50 to 18.75
20.00 to 21.75 24.00 to 24.50 24.00 to 24.50 19.50 to 20.50
Kurrachee Bengal, Rangoon, and
Dacea
Shanghai and Japanese.. Tungehow and Ningpo.. Madras (Best)...
19
1
"
RICE. HONGKONG, Sth September.-The arrivals are bardly sufficient to meet the demand for Singa- Quota- pore and prices continue to advance. tions are:-
Saigon, Ordinary.....
دو
Round, good quality Long
Siam, Field, mill cleaned, No, 2
22
Garden,
White..
Fine Cargo
J2
COALS.
.$2.70 to 2.75
2.05 to 3 00 2.75 to 2.80 No. 1.3.16 to 3.20 4.5 to 4.10 4.16 to 4.20
HONGKONG, 8th September.-Little Business doing. Quotations are:-
Cardiff
$16.50 to 18.00 ex ship.
8.50 small,
Australian...{ 11,00 lump.
Miike Lump... 10.00 to 10.50 ex ship, nominal Mike Samall... 8.50 to 9.90 none offering Moji Lump 7.75 to 9.50 ex ship, sales
MISCELLANEOUS IMPORTS. HONGKONG, 8th September. Amongst the sales reported are the following :-
YARN AND PIECE GOODS:-Bombay Yarn.- 60 bales No. 8 at $88.50, 1,795 bales No. 10 at $91 to $100.20, 500 bales No. 12 at $93.25 to $100, 165 bales No. 16 at $100.50 to $100, 670 bales No. 20 nt $107 to $119. Japanese Yarn.- 100 bales No. 20 at $114. Grey Shirtings.— 600 pieces 84 lbs. 2 Fish at $3.0213, 300 pieces 84 lbs. Lion and Arrow at $2.87), 500 pieces 10 lb. Blue Triangle at $4.05, 500 pieces 10 lbs. Palace at $8.70, 250 pieces 10 lbs. Moon and Cock at $3.70. White Shirtings.-1,000 pieces B. at $5.20, 550 pieces B.K. at $4.971, 150 pieces E.K. at $6.15, 500 pieces Roast Pig at $3.70, 1,250 pieces No. 500 at $3.60 to $3.70, 250 pieces Cathead No. 500 at $3.65. T. Cloths-750 pieces 7 lbs. Mexican Feather Brush at $2.123, 1,105 pieces 7 lbs. Mexican Blue Dragon, B.B., at $2.45. Turkey Reds.-250 pieces 5 lbs. Clock at $3.35, 200 pieces 5 lbs. Clock at $3.55, 550 pieces 4 lbs. Fish at $8:07), 450 pieces 6 lba. Fish at $3.95. Camlets-30 pieces 9 Old Men dark blue at $19.50, 159 pieces 9 Old Men assorted at $18.50. Long Ells.200 pieces 9 lbs, Scarlet at, $7.90, 200 pieces 8 lbs. Scarlet at $7.40.
METALS.-Lead-1,260 picnle Australia at $8.75. Tin.-300 slabs Foong Chai at $38, 200 Slabs Siam at $36.50. Iron.-500 kegs wife nails at $6.45, 3,000 bundles small round reds at $4.90.
SHANGHAI, 2nd September. (From Messrs. Noël Murray & Co's. Piece Goods Trade Report) -Business remains in statu quo, the only transac
tions throughout the week being confined to the Auctions. One of theso has been suspended pro tem, which certainly seems to be the proper thing to do, as the improvement in prices does not in any way approximate to the decline that has taken place in Exchange. It seems, too, that the prices paid are only kept up by a few of the trade, probably their own holdings, and are certainly
ure.
one
Metals. (From Messrs. Alex. Bielfeld & Co.'s Report) 3rd September:-Since our last report exchange has been the sole topic of conversation, and there has been absolutely no business done. Deliveries have been very slow, factor conducing to this being the high rate of interest charged by the native banks. The gambling in gold that has been indulge in of late to a great extent, has affected the banks in many cases, and they are, therefore, less able than usual to assist their clients. Large quantities of gold were sold for delivery during the 9th and 10th moons, at Tls.360, to Tls 375, while the price now stands at Tls. 420, this will cause ruin to many unless there is a fal in the near fut- In local trade there seems to be no possi- bility of improvement until the exchange rate improves, for, while under the stress of the immediate wants, local prices have risen from 3 to 5 per cent, the laid down cost has increased 20 per cent., and this the dealers cannot meet. As for contracts, dealers will neither venture at sterling rates or pay the local tael rate, so that there is a dead-lock that only time will be able to break. The evil effects of Japan's action in adopting the gold standard on insuffi- cient data are already visible, the rate for all Japanese goods being inflated to the manifest advantage of the local producers. This will be a favourable factor in the development of the new Cotton Mills, however, and will serve as the an additional impulse to bring about inauguration of still other new industries here, such as have proved so successful in the "Land of the Rising Sun."
JOINT STOCK SHARES. HONGKONG, 8th September.-A fair business has been transacted during the week under review. Rates have ruled firmer and in some cases show substantial advances.
BANKS.-Hongkong and Shanghais came into demand immediately after the settlements and a fair number changed hands at 166, 167, 168, and 169 per cent. prem., Shanghai
market supplying our
with most part of the shares. Ou time a few small lots have been negotiated at equivalent rates for October The latest London rate is and December. £39. 10s. The market closes steady at 169. on offer for most of Nationals have been
without finding buyers the week at $20 and close at $194. Bank of Chinas continue neglected.
MARINE INSURANCES. China Traders to $79, without remain steady at $78)
[September 9, 1897.
business; no shares, however, appear to be obtainable under $80. Unions have been enquired for and small sales have been effected at the advanced rate of $240 and $2421, at which latter more could be placed. Cantons continue on offer at $175 without sales, and Straits are obtainable at quotations. North Chinas and Yangtszes have negotiated in Shanghai at quotations.
FIRE INSURANCES.-Hongkongs are still neglected without sales, whilst small sales of Chinas have taken place at $105 and $104, closing with a demand for small lots at $104).
been
SHIPPING. Hongkong, Canton and Macaos are still quiet and declining; after sales in the early part of the week at $321⁄2 and $321 the rate gradually fell to $313, at which'a fair number of shares changed hands. It is difficult to find a reason for the fall, but the great advance in the price of coal appears to be the soundest one that is brought forward; market closes with buyers at $32. Indo-Chinas have ruled out of favour, sellers vainly offering to part at $48, and a point lower would in all probability bring out shares. China and Manilas are still on the market in small lots at $76. Douglases have found a fair number of buyers at $66. It is understood that the forthcoming report, which is a good one, will recommend a final dividend of $1 per share, making 12 per cent. for the year.
REFINERIES-China Sugars have been im- ported largely from Shanghai at $135 and $136, and local sales have been effected at $137 and $138, the market closing' steady at $138. Lu- zons have continued on offer at $42 without leading to business.
MINING. Punjoms ruled fairly firm in the early part of the week with sales at $5.75, $6, and 86.25; the news of another poor month's crushing (aggregating about 342 oz.), however, again caused a drop in the rate and shares were pretty freely offered at $5 without finding buyers; the market closes at $51. Charbonnag s are obtainable in small lots at $81. New Bal- morals ruled neglected during the early part of the week, but towards the end a small de- mand set in and sales were effected at $1.70 for prefs. and at $1.40 for ordinaries; at time of writing the market is steady at these rates. Olivers after small sales at $54, $53, and $6 suddenly jumped to $7.75 on receipt of the following telegram from the mines:-" The Enreka Mine, have opened up a fine body of ore at the bottom of the shaft, gold is visible throughout, breadth not yet determined."The market closes steady. Jelebus have changed" Raubs after further sales at $194 gradually fell hands at quotation in small unimportant lots.
to $18 after sales at intermediate rates. Written advices from Singapore estimate the forthcoming crushing at about 1,800 oz. from 2,400 tons ore, or 15 dwt. The market closes steady at $181.
a
DOCKS, WHARves, and GoDOWNS.-Hong- kong and Whampoa Docks. The demand at 215 per cent. prem. reported last week continuing without bringing out any shares the rate quickly rose to 218, at which fair business was negotiated. At time of writing small lots are enquired for at that rate. Kowloon Wharves continue quiet and more or less neglected with but small sales. at $63. Wanchais have found buyers at $447.
LANDS, HOTELS, AND BUILDINGS.-Hong- kong Lands have been in some demand and shares have changed hands in fair lots at $74, $741, $743, and $75, the market closing steady to strong with buyers at the last rate. Kow- loon Lands remain quiet with small business at quotations. West Points have changed hands
more shares at $214 and
are obtainable. Humphreys Estates have been further nego- tiated at $94 and close steady. Hotels have without business at remained quiet and
$48.
MISCELLANEOUS.-Green Islands have ruled steady and in fair demand without much busi- ness, small lots only having changed hands at quotations; market closes firm. Watsons have continued dull and neglected at $124 with small sales. Electrics have been eagerly enquired for at $9.50 to $10, but very few shares have changed hands. Ropes, Fenwicks, and Ices have been negotiated at quotation in small lots, and Tramways still continue on offer without finding buyers.