378
COMMERCIAL.
TEA
·HANKÓW, ⋅ 7th June.-Business reported since the 81st nito, is as under :-- 1905.
1904. }-Chesta,
108,576
HONGKONG WEEKLY PRESS AND
| Waste Tla. 180 per pioul, Carlies No. 1 Tls, 90 per picul and Kading Frisonets, 70.20.10, Tis, 85–86 per picul, exchange being at 2/7) and fox. 8.80 for four months' documentary bills, and, in spite of the continued depression at home, a considerable 4-Chesta.
business, more especially for the Continent, had Settlementə
110,460
been put through by the beginning of September Consisting of the following Teas :--
on about this basis. The market then became 1-Chests
dull and depressed with drooping prices, and this .28,581 at Tis. 100.00 per picul. has remained its general condition ever since for .10,609 at 'l'ls. 67.00
the generality of wastes. .10,565 at Tls. 20.50 .43,936 at Tls. 25.00 .17,593 at Tls. 30 50 1,086 at Tls. 18.50
Ningohows..
Khemung
Oopacks
Oonams Oonfass
»
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12
"J
"
Séang-tama The following are the statistics at date compared with the corresponding circular of last season vix., 8th June, 1904 :---
1906. 1904. I-Chests -Chenta. 177,804 380,832 17,764
HANKOW THA.
Settlements...
Stook
газ
398,596 1904.
RICE.
Messrs. W. G. Hale & Co.'s Circular, "dated Saigon 2nd June, 1905, states --During the period under review there have been some sales to the
Philippines which hardened our market. At the close, owing to lack of demand from any direction, prices are slightly easier, but we doubt if they could recede any further, as bolders of the supplies of Paddy yet remaining-and which are very meagre indeed can well afford to hold on.
We quote for July to August delivery No. 2 White aifted (trié) steam
milled (round)
118,872
Arrivals
291,266
1905.
KIUKIANG TRA,
-Chests.
-Chests.
Settlements...
106,903
157,331
Stock
་་་
58,046
38,382
milled (round)
5 Cargo steam milled (round)
159,949
190,713
10% Cargo steam milled
20% Cargo steam milled
Arrivals
SILK.
Resume of the Season 1904-6 from Messrs. A, B. Burkill & Son's Circular :-The season now ending has been an unsatisfactory one, and whilst losses have not been as severe as they were in 1908-1904, they have been in some cases considerable. The crop proved to be slightly less than that of 1903-4, there being a falling off in White, Yellow and Wild silks and a slight increase in steam filatures. Steam Filatures.-There was a considerable stock of cocoons carried over from the preceding season, and on this severe losses must have been incurred. The quality of a large proportion of this season's shipment leaves a great deal to be desired. Á very important factor has been the greatly increased export from Japan. The rapid growth of the silk industry of that country should serve as an example to the Chinese of what can be accomplished by the adoption of scientific methods of sericulture, but the Chinese adhere rigidly to "olo custom” and seem content to leave matters entirely to chance. The relatively high Tael prices which the lower basis of exchange
has enabled exporters to pay during the past few years has unfortunately prevented producers realising to the full the monetary loss which otherwise the falling off in the crops would have resulted in. Raw Silk-The market opened very quietly on the basis of Tis. 525 for Gold Kiling and we had a dragging market until the third week in July when the Chinese secured Tls. 575 for the above chop, a price which was not main- tained by the end of August Tls. 545 w38 recorded, at which figure a considemble business transpired. Six weeks later the volume of business was again heavy and on the basis of Tls. 550 some 2,500 bades of Tsatlees changed hands, by the end of November Tla. 570 was reached, but a reaction then set in, and after waiting about six or seven weeks buyers secured gold kiling at Tls. 530 which price has been maintained with but small fluctuations to the present time. Hand Filatures. There has been rather less business done in these this year, the highest price was paid in November when best chops Grant reel touched Tls. 750 for extra, but since then prices have declined Tis. 40-50 per picul Crop Prospects.- Owing to the wet and cold weather experienced in April and the beginning of this month, the Crop will be late, but unless any unfavourable condition should arise we look for as large a crop as last year's, or a trifle bigger. The Shaoshing o060on market has been opened and the prices paid would make the cost of steam filatures about Tls. 760 for 1, 2 and 3, a figure which shows a considerable amount of confidence in the position of the silk industry time alone can show if it is well placed. Waste Silk.-The season under review can scarcely have been a satisfactory one to anyone connected with the trade either as producers, dealers or consumers. Caused by the depression on the home markets, and the large stocks held by some of the largest consumere, there was a prolonged delay in the opening of the market, and in place of the forward contracts which used to be made before the season began, by continental buyers more especially, it was the end of July before any- thing was bought by bona fide exporters, although there had been some Chinese speculation in Curlies and Frisoneta á month, previous to that. It was the beginning.
before the market for wasted saņē
could be considered really opened, and ma
ipes were then paid for the standar
Tamed, with prices of other wästed in proportion-Filature Löfig
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of
No. 2 White unsifted (ordinaire) steam
Prices according to terms and conditions.
COAL.
per picul
$3.96 $3.99 83.32 $3.24
Messrs. Hughes and Hough, in their Coal Report June 18th state that 20 steamers are expected at Hongkong with a total of 49,800 tons of Japan coal, 11,100 tons of Cardiff Coal, and 24,900 tons of Indian. Since June 3rd 44,000 tons of Japan coal have arrived. The market continues nominal. Quotations :~-
Cardiff... Australian Yubari Lump. Miiki Lump Moji Lump. $9.00
$17.00 $19.00 ex-ship. $12.00 $13.00 ex-ship. $12.00 ex-ship, nominal $11.00 ex-ship, nominal to $10.00 ex-ship, stendy.
YARN.
Mr. Eduljee, in his Report, dated Hongkong, 16th June, mys-Dealers have at length com- menced to operate more freely, and nearly 12,000 bales have changed hands during the past fort night. Under ordinary circumstances au im provement in values would have taken place, but holders being influenced by the lower cost of importations and the weak condition of our large neighbouring market of Shanghai, have been willing sellers, and sales generally, both of spot goods and to arrive, show little or no change on last quotations. Spot goods of superior descriptions are taken for immediate wants, but the bulk of sales noted below consist, for the most part, of medium and common grades, the great disparity in price of superior spinnings diverting the attention of buyers to inferior, but com- paratively cheaper, threads. The demand has been general and almost all counts are dealt in, No. 10s and 12 attracting by far the largest amount the attention.
Local Manufacture-Continues in fair request, and sales of 500 bales No. 10 at $100 and of 250 bales No. 128 at $112) are reported, prices. showing a further advance of $14 per bale.
Japanese Yarn:--The market is almost bare of stock, and the only business of the interval is the sale of a parcel of 525 bales No. 16 Kurashiki (three horses) at $134.
Raw Cotton-A fair enquiry has continued for Indian descriptions, but holders appear to be rather firm in sympathy with the Bombay market, and retail sales of 525 bales of superfine Bengals at from $234 to 431 are reported. Nothing has been done in China cotton, Unsold
stocks, Indian 4,200 bales and China 250 bales. Quotations are Bengal $21 to $244 and China $22 to $26.
Exchange on Indian shows little or no fluctu- ation and closes to-day at Rs. 141 for T/T and Rs. 141 for Post. On Shanghai 714 and on Japan 92). The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 2nd instant viz:--
Indian-Market unsteady with weak holders for- cing sales, the chief feature being the total abeen- ce of demand for No. 166. Total sales about 3,500 bales with an estimated unsold stock of 80,000.
Japanese:-There is not much doing in these ipifinings, No. 168 showing a decline of about teals. Total sales about 1,500 bales on the
basis of Tis. 98 to 100 for No. 16s and Tls. 102 to 106 for No 20.
喀
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[June 17, 1905.
PIECE GOODS.
Mesara, Noel, Murray & Co., in their Report en the Shanghai Piece Goods Tide, dated Shanghai, 9th June, 1905, state :--/
:—Ân was to be expected the interval since our last report, which culminated in the usual Chinese holiday in celebration of the Dragon Festival, also the second most important settling day of the year, has been one almost entirely devoid of interest to those engaged in this branch of trade. Preceded as this whole holiday was by two half holidays, on account of the Regatta, the working hours were cut down to a minimum, and this appeared to quite suit the book of the dealers. Under these circumstances it. is hardly necessary to say absolutely nothing has been done-beyond the usual auctions. It is scarcely time yet to gauge the feeling of the market, but there are undoubtedly encouraging features which give some hope of a revival in the consumptive demand, and from the indications the improvement will come both from the West and the North. That this resuscitation will extend to forward business is somewhat doubtful, nor is this to be wondered at when the precon- ceived ideas of the dealers are so liable to be undermined by the action of the › manufacturers at home. The remark we made a few months ago, which perhaps were a little too strongly sapha ised, though they were called forth by a very flagrant case that came to our notice at the time, and was not connected with Manchester, appears to have raised the ire of some of the manufacturers there, according to a recently received Manchester Guardian, the writer to which endeavours to condone the offence. Although the remedy we suggested may not be feasible, or meet the case, it is beyond all question absolutely necessary that something be done. It is no nee arguing on the basis of "what has been," the course of trade has changed entirely and fresh methods of conducting it must be sought, and to the producer who can offer the most consistently fair terms will the business go. Manufacturers will have to be more particular with regard to estimating the probable output of their mills, and so avoid the too frequent declaration that "orders cannot be accepted for delivery tuføre such and such a date," when it is becoming_too often found that it is possible to do so. They must remember the position of operators hore, who have to buy for an anticipated demand and take the risk of exchange into the bargain, which, in the meantime, may have gone up sufciently to enable a higher first cost cloth to be laid down cheaper than that of an earlier contract for later delivery. Some equitable arrangement can surely be devolved, even if the remedy we suggested be not feasible. The writer referred to above only supposes the case of goods costing more (made with dearer cotton), than those under earlier contracts for later delivery, but what about those that can be offered on better terms? Such cos- plaints are not unknown ! Manchester is strong and the quotations for fome goods higher even for remote delivery Cotton, after advancing to 4.70d. for Mid American and 7,4d, för Egyption, in Liverpool, hàs receded again to 481d; and '7jd. respectively. Next Week the Whitsuntide" Koli- days take place, when only on Tuesday wil siny business be done. The question of penalties for late delivery of contracts recently made from this is receiving the attention of those hatererted in this trade in Manchester, and it'is admitted there is a good deal of justics in the complaints made. From New York we hear :, of advices, either with regard to the market or the price of cotton No news has come to hand yet as to the acreage planted this year, though the Government report was expected to be issued on the 3rd instant, but up to the date of the last advices the prospects were not good, as regards the weather, for planting. However, almost precisely the mame pessimistic reports prevailed at the same period last season when the crop Itimately yielded 18,500,000 bales! Pièce Goods.-As importers deny that they have fold, and known hollars amongst the dealers deny having resold, we do not propose to record the fow transactions published. As regards the auctions, both yesterday and to-day, there was generally a drooping tendency in the plain- staples: Grey Shirtings. With few exceptione.n slightly easier for all walgatas, in mos fraction of one per gent.. White Shirtings ordinary red goods were without much shang way or the other, but in beavier makes. several instances of an impro
Comiñon went rather better
better qakittiöd déclined.
is absolutely not
are coming in freely.45
Local:-The mills are all fully engaged over forward contracts, but a fairly large contract extending to the end of August kaa koem entered | into by one of them on the basis of Tim 87 for No.'enquiry has been experime 14s, and Tis. 881 for No. 168.
Cotton Italians for Newchwang,
[-
no