Beptember 24, 1898.]
'Tin Plates
per box.
6.00 to
per cwt. case
6.25 to
Steal to
SUNDLIFE
Quicksilver
138.00
Window Glass
Kerosene Oil
per picul to
per box
4.55 to per 10-gal. caes
1.98 to
SHANGHAI, 17th September.-(From Messrs. Noël, Murray & Co.'s Piece Goods Trade Report.) -There is more doing amongst the natives and quite a fair amount of cargo has changed hands this week, but Importers have participated to a very small extent, being altogether unwilling to countenance the low rates goods are being resold at. Of course so long as the merchants can obtain what they want on their own terms from Native sources, or the Auctions, holders must perforce abide their time, and rest satisfied for the present. that, although the outside markets are not over strong, goods are being cleared and going into consumption. Tientsin is buying makes, both Drills and Sheetings, but the market for these has been more or less upset lately by
American
some erratic sales from first hands. There are buyers, in fact, for all markets if prices are cheap, though there are still complaints of the dearness of money. Clearances continue moderately satis- factory for most quarters, Korea again distingui shing hrself in that respoct this week. The Yarn market is still in a very depressed state both here and in the South, so much so that holders in Hongkong have telegraphed to the Bombay Mill Owners Association urging them to curtail produc tion. The reply was that the question would be considered provided the China and Japan Mills co- operate. Reverting to what we wrote last week with reference to the fruits of the Blackburn Mission to China, there is a way by which the Lancashire trade with this Country can be preserved, but it will require very powerful Syndicates to effect the necessary changes, as it will involve a reform of the Manchester trade as at present carried on. The most essential point is for the Manufacturers to combine to do away with middle men, as soon as practicable, and deal direct with the representa tives of the China houses, doing their own waking up, ticketing, packing, and shipping, etc., and so save the heavy expense that a bale of Shirtings has to incur now before it reaches the hands of the buyer, as is done in the United States and Canada. The trade will then be placed more on a parity with that of the Unitel States, and could successfully compete even with the heavy makes of Drills and Sheetings that are now bing fast cut out. All that vast system of rebate and discounts that is despoiling the trade Bust be done away with, or, so surely as China's former valuable Tea trade has dwindled into insignific- ance, from very similar cause, will the Lanea.. shire trade with this country gradually pass into other hands. This course, of necessity, will cause Manchester firms joining the Manufacturers' Syndicates or opening houses in Ching, but what must come is a reduction of the heavy needless expenses at present incurred. Reform is wanted all along the line, not forgetting the monopoly formed by that powerful combination that cou- trols the Steamer service to the East composed entirely of British Companies, that carry alien cargo 25 per cent. to 30 per cent. cheaper than that of their own Country, as an actual statement of facta show, the freights paid from New York for the past 2 or 3 years having varied from 278. 6d. to 32s. whilst Manchester has been paying 35. to 42s. 6d. Let Lancashire Manufacturers bestir themselves, and if necessary form them- selves into Syndicates so as to be able to put their trade on a more equable footing with that of rival and competing Countries.
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METALS, 19th September+(From Mesars. Alex Bielfeld & Co.'s Report-There has been very little regular business done during the past week, owing undoub edly to the near approach of one of the annual settlement periods, combined with the continued tightness of the money market. Contrary to the practice of former years, neither foreign nor Chinese banks will make advances upon merchandise in Chinese hands, even at high rates of interest. This naturally has a bad effect on the total of trade, though it may have a beneficial result in curtailing that spirit of speculation which has been manifest in the past, to the utter demoralisation of prices at time of settlement. The wharves are full of cargo which cannot be taken delivery of, and there exist no signs which lead to the hope of improve- ment. The most noticeable feature of the week has been the very large quantities of old metal
CHINA OVERLAND TRADE REPORT.
Al-
materials rejected by Chinese buyers, on arrival here, and thus forced on the market at auction, where they have in many cases been bought up at their own prices by those ordering, these prices being far below home cost price. though, as WA have already said, home dealers are often to blame in not sending out goods up to the specifications called fr, this is by no means the sole cause of trouble. We have seen contracts so drawn up that the Chinese had a legitimate loop hole, and when they find they can probably get the goods at auction below the price called for, they naturally avail themselves of the chance. Indeed, this is becom- ing the rule at present. And it behoves dealers to take greater pains in framing contracts so as to prevent this action. In Metals there has been nothing done beyond the following sales by auc- tion of goods rejected on contract. Prices re- main firm at home, Nailrods being 1218., c.i.f., while they are freely offered here at 1203., spot, without finding takers. Auction.-150 piculs Old Chains at Tls. 1.72; 1,500 piculs Horse-shoes at Tls. 1.98 to 2.00; 2,0 picnls Plate Cuttinga test pieces at Tls. 202; 500 piculs Old Wire Rope at Tls. 0.95; 1,000. piculs do. at.'fls. 0.42 to 0.76; 900 piculs Old Telegraph Wire at Tls. 1.72; 800 piculs do. at Tis. 1.61; 2.001 piculs do. at Tls. 1.43 to 1.46; 600 piculs Old Signal Wire at Tls. 1.4 to 1.47; 1,200 piculs Old Cobbles at Tls 1.73.
|
N
JOINT STOCK SHARES. HONGKONG, 23rd September.-The market has ruled fairly active, and rates from steady to strong in most stocks, but in some considerable advance has to be reported, not- ably in Banks and Kowloon WharveS.
BANKS. Hongkong and Shanghais with 210, 211, 214, and 215 per cent. a fair demand changed hands at 206, 207, 209, for cash, whilst on time sales were made at 217 to 230 for December and 223 to 240 for February. The boom is chiefly attributable to a rise of £210s. in the Londou rate (E49 10s. Od.); market closes steady at 214 Nationals have found further buyers at $17. Bank of Chinas unchanged and without business.
prem.
A
MARINE INSURANCES.-The market con- tinues dull and with the exception of few sales of China Traders at $63 and Cantons $130 there is no business toreport. FIRE INSURANCES.-No change or business to report.
SHIPPING-Hongkong, Canton and Macaos and $254, closing steady. have changed hands in fair quantities at $25! been dous at 8544 and 855, closing stealy at Indo-Chinas have
latter rate. Douglases after small sales at $584 are on offer at $58. China Manilas and China Mutuals unchanged and without business.
REFINERIES-China Sugars have found buyers at $154 and $154, closing steady at latter rate. Luzons remain neglected at quota tion.
MINING. Punjoms continue steady at $5.25 with sales. Balmorals have changed hands at 30 cents Ordinary and 50 cents Preferences. Jelebus rule steady at 84.25 with a small busi-
ness.
and Great Easterns have again advanced to, Olivers have found buyers at quotation,
$5.70, after sales at $5.25, $5.40, and $5.50. Raubs with a sudden demand from the South have improved to $36 after limited sales at $344, 835, $35), and $36.
Docks, WHARVES, AND GODOWNS.-Hong kong and Whampoa Docks have changed hands in small lots at 245 and 246 per cent, premium and at equivalent rates for November and December. Kowloon Wharves with an un- satisfied demand at $63 gradually crept up to $67 with sales at that, but with very few, if any,
at intermediate rates; market closes quieter at $67. New Amoy Docks have found buyers and are still enquired for at $13 in a small way. Wanchais unchanged and without business.
259
without business. Ices have changed hands at sons at $12 has sent the market up to $12.25 $108 and more are probably obtainable at the rate. Star Ferries and Providents have been - negotiated at $9 and 89§ respectively.
Closing quotations are as follow:-
PAID UP. QUOTATION.
[$392), buyers
Banka-
COMPANY.
Hongkong & S'hai... China & Japan, prť. Do. ordinary... Do. deferred...
Natl. Bank of China
B. Shares Founders Shares.. Bell's Asbestos E. A....
Campbell, Moore & Co.
China Prov. L. & M.... Cotton Mills- China Sugar
Ewo... Hongkong International Lau Kung Mow Soychee Yahloong Dairy Farin Co.. Fenwick & Co., Geo. Creen Island Cement....
Do. New Issue H. & China Bakery Hongkong & C. Gas H. H. L. Tramways Hongkong Electric Hongkong Hotel Hongkong Ice
H. & K. Wharf & G... Hongkong Rope................ H. & W. Dock Insurances-
Canton. China Fire China Traders'
Hongkong Fire North-China Straits Union Yangtsze
Land and Building-
H. Land Investment. Humphreys Estate... Kowloon Land & B.! West Point Building Luzon Sugar Mining-
Charbonnages
Great E. &C'donian Jelebu ... New Balmoral
Do. Preference Oliver's Mines, A..
Do. B. Punjom *****
Do. Preference.. Raubs New Amoy Dock: Steamship Coy.--
.........
China and Manila... China Mutual'Ord...
Do. Preference..? Do.
110 Douglas S. S. Co. HL, Canton and M.. Indo-China S. N. Star Ferry Tebrau Planting Co.
Do.
United Asbestos
.Do.
...
Wanchai, Wareh'e Co. Watson & Co. A. 8...
$125 214" prem
£5 nominal
£4 £0 10s. 6d.
£1 1£5.58.
i
£3 $17
£1 $17, sales & buyers
£1 nominal $10 $9
$10 $01. sales $100 $154, buyers
Tls. 100 Tls. 874, sellers
$70 $50, sales
Tls. 100 Tls. 9J TIs. 100 Tls 85
Tls. 500 Tls. 450 Tis. 100 Tls. 60
$4 $53 $25 $291
$10 $27, sales & sellers
$3 $16, sellers $50. $33
£10 $125 $10 $84, sales $100 $110, buyers
$50 $52 $25 $108, sales $50 $67, sellers $50 $162, buyers $125 246 p. ct. pram.= -[843.50, buyers $50 $130, sal. & buyers $20 $95, sellers $25 $63, sellers $50 $331, sellers £25 Tls. 180 $20 $9, sellers $50 $215, sellers $60 $129
$50 $66, buyers $10 $9.50, sellers $30 $171
$40 $18, sales $100 $12
Fce. 500 $10, sellers.
$5 $5.70, buyers $5 $1.25, buyers $r 30-cts. $15 cts., sales $5$, sellers $21 $3.60, sales $5$.25, sellers $1 $150 14s. 10d. $301; buyers'
$6 $134, buyers
$50 $85
£10 £9 19., buyers: £10 £5 10s, -
£5 23
150 $59, séllers $15 $251, buyeri £10 $55, buyers
$79, sales & sellers-
$5 $5, sellers $4.$3; selleri $ $1.40, buyers $10 $10, nominal $371$41
$10 $12.25, buvers J. V. Y. VERNON, broker.
SHANGHAI, 19th September.-(From Messrs. J. P. Bisset & Co.'s Report)-A moderate business has been done this week, with but little change in prices. Banks-Hongkong and Shanghai.. fined to a sale at 207 per cent. premium, for cash. Banking Corporation-Businesa has been con-
National Bark of China.-Founders' shares were kong Lands after further sales at $65 are in
LANDS, HOTELS, AND BUILDINGS.-Hong-placed at $10, and Ordinary shares at $17. better request and a small demand at $66, re-. mains unsatisfied. Hotels have ruled very quiet and without business. West Points and Humphreys have changed hands at quotations.
COTTON MILLS.-No business (local) to re- port except in Hongkongs, which have found buyers and close steady at $50.
MISCELLANEOUs.-Green Islands (old) have found buyers at $27 whilst new issue continues on offer at $16. An unsatisfied demand for Wat-
I
Insurance.-Marine and Fire, no business report- ed. Shipping.-Hongkong, Canton and Macao Steamboat shares are wanted. Indo-China S. N. shares changed hands at Tls. 40 cash and Tls. 42.50 for the 28th February. China Mutual 8, N....... Ordinary shares were sold at Tis. 23 Sugar wanted at Tls. 39.50 for the 30th current, China Companies.-Perak Sugar Cultivation shares are
current at $157. Luzon Sugar shares are wanted Sugar. Refining shares were placed for the 30th at $1., Mining-Raub Australian Gold Mining shares were sold at $35, and are, wanted. Docks,
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