་
December 18, 1905.]
children removed. The sitting of the Court had, of course, teen abruptly suspended.
It had been arranged to set apart this morn. ing for the trial of the case, but it is at least doubtful if it will proceed to-day,
So far as is known the only casualties in the fight were sustained by Insp. Gibson and a runner, both of whom were slightly damaged.
The incident caused great excitement yester. day both in foreign and native circles.
We learn that a meeting of the Chinese Chamber of Commerce is called for this morning, and that several of the principal guilds are also to hold meetings to protest against the treatment sustained by the Chinese magistrates. A wild statement is being industriously circulated that Mr. King was hit over the head by one of the police.
IMPENDING ELECTION TO THE LEGISLATIVE COUNCIL.
pre-
RETIREMENT OF SIR PAUL CHATER. Sir Paul Chater, C.M.G., who has represented the Justices of the Peace on the Legislative Council for nineteen years, has announced his intention to retire on the expiration of his sent term- at the end of the present year-and a meeting of the Justices has been convened for the 21st inst, to appoint a successor.
The term for which the representative of the Justices is appointed is six years, and when re-elected on the last occasion Sir Paul accepted with reluctance and in a short speech to the Justices intimated that he would definitely make way for new blood on the completion of the present term. That intention is now about to be fulfilled, and Sir. Paul has proposed as his successor Mr. H. W. Slade (of Messrs. Gilman & Co.), Chairman of the Hongkong and Shang- hai Banking Corporation. The nomination is seconded by Mr. J. R. M. Smith. Mr. E. A. Hewett, superintendent of the P. and 0. Company, and Chairman of the Chamber of Commerce, has also been nominated, Mr. A. G. Wood proposing and Mr. E. W. Mitchell seconding. We understand that other nomina- tions are not improbable.
Since the above was written we learn that Mr. H. E. Pollock, K.C., has been requested to offer himself as a candidate for the position and has consented to nomination.
CHINA OVERLAND TRADE REPORT.
COMMERCIAL.
SILK.
CANTON, 2nd December, 1905-Long-reels. Under the influence of Exchange, which has been rising, local values have dropped to the according to the high prices paid for 4th, 5th and lowest level since the beginning of the season;
heavy losses. The last few days the market has 6th crop cocoons. Chinese holders have to bear been gradually improving, wit more demand, especially for Fres. 9 11,10/12, 18/22, and“ Natives” 11/13, 13/15 and 14/18. From sales made we quote: 3850-$830 Filatures le, ordre 9/11; On Wo Hing 11 and Lai Fung Lun 9/11 at $820; Wing Po Cheong 10/12 from $830-$800; Po King Cheong 10/12 at $800; Tsung Wai Hang 13/15 at $795; Lean Fat Cheong 18/12 and Wai King Wo 18/22 at 8705; Yee Wo Cheong from $715-1690; Best 3me, ordre 11/13, 13/15, 14/18 from 3690 to $885.
Short-reels. The demand for America has been rather quiet during the fortnight both for Filat- been interested in Fils. Extra Extra A and Extra ures and Rereels, while European buyers have Extra B 14/16. Waste Silk.-A good current business has prevailed during the period under review, the "Extra selected unopened" being most in favour; at the close holders are reluctant to sell so freely and are asking higher prices. Stock of Silk in Canton: 4,200 bales.
SUGAR.
HONGKONG, 15th December.-A further decline in prices is reported, market being weak. Shekloong, No. 1, White......$8.80 to $8.85pel.
Do.
2. White...... 7.30 to 7.33 Do.
1, Brown...... 6.50 to Do.
2, Brown...... 5.90 to No. 1, White...... 8.40 to
Swatow,
11
33
11
6,55
17
5.95
8.45
**
Do.
1
71
2, White...... 7.20 to 1, Brown
6.25 to
7.25
6.30
5.70 to 5.75
11.00 to 11 05 10.05 to 10.10
Do. Do.
2. Brown Foochow Sugar Caudy. Shekloong
RICE.
Hongkong, 15th December.-A few demands having come forward the prices are declining.
+
Round, good quality. Long...
JAPANESE GOVERNMENT BONDS. Saigon, Ordinary
THE NEW FOREIGN ISSUE.
The issue is officially announced by Imperial Ordinance No. 241 of the new 4-per-cent. for- eign bonds to the amount of £50,000,000, or Yen 500,000,000, the object of the issue being the consolidation of the national debt partly by the redemption of the 6-per-cent. bonds. It is stated that half the amount will be issued at 90 and the syndicate's commission will be £2, 80 that the amount to be received by the Govern- ment will be £88 per £100. The object of this issue is the exchange or redemption of the for- eign bonds issued in May and November of last year for £22,000,000, and bearing 6
per cent. interest.
In case of 6-per-cent. bonds being exchanged for 4-per-cent., payment will be made of the balance in cash. The time and price of the issue of the balance of £25,00,000 will be deter- mined by the Minister for Finance.
The contract for the new issue was signed on the 23rd inst. and approved by the Emperor on the following day. The first issue of £25,000,000 for consolidation of the national debt was to be placed on the European market yesterday.
The issuing price of foreign bonds since last year are compared as follows:-
First-o per cent. Issued at 93, 24 per cent. commission; actual value received, 90.
Second.- per cent. Issued at 904; Com. mission, 34; actual amount received, 863:
Third and Fourth. - 41 per cent,
Issued at 90; Commission, 34; actual amount received, 863
Sixth (the new bonds).-4 per cent. Issued at 90; commission, 2 per cent; actual amount to be received, 88.
Siam, Field mill cleaned, No. 2 ........
No. 1
Garden, White, Fine Cargo
OPIUM.
$2.80 to $2.85
3.60 to 3.65 3.70 to 3.75 2.90 to 2.95
3.75 to 3.80 4.00 to 4.05 4.20 to 4.25
HONGKONG, 14th December. Allow'ce net to 1 catty.
$1030
to $1060 to
Quotations are :---- Malwa New Malwa Old Malwa Older Malwa V. Old...
Persian fine quality ...$1150 Persian extra fine.
per picul-
do.
.$1110 to
do.
$1180
to
do.
to
do.
$1200 to $990 to
Benares New Benares Old
.$955 to .8945 to .$920 to
1. do.
Patna New Patna Old
COAL.
do. per chest.
do.
COTTON.
429
HONGKONG, 15th December:-No business to report. Stock about 4,000 bales.
Bombay..
Bengal (New), Rangoon
and Dacca Shanghai and Japanes Tungchow and Ningpo.
$18.00 to $19.00 per pol.
18.00 to 23.00
"
1
26.00 to 27.00 26.00 to 27.00
D
YARN.
Mr. Edujee, in his Report dated Hongkong 15th December, says :-As previously mentioned, close of last mail, had restored confidence the sharp rise in American cotton towards the amongst holders, and checked the downward course of the market, Simultaneously with this improvement, exchange commenced to decline and encouraged our large operators to reappear in the market. Brisk baying then followed, and in the course of two or three days close upon 15,000 bales of every grade and count, Loth spot and to arrive, changed bands prices showing an ad- vance of $2 to 4 per bale Under ordinary circumstances a further appreciation in values would have taken place, but importers made the most of the demand while it lasted, and have met buyers freely. The above purchases have been entirely speculative, as at the moment there is nothing doing in the country, but the outlook warrants the action of the speculators. During the late period of depression stocks, in the in- terior, have run very low, and with an abundant yield of the new rice crop there is a fair future for the article. Latterly dealers have satisfied their requirements and are not buying, and the market closes quiet.
Messrs. Hughes and Hough, in their Coal Report of Dec. 14th, state that 24 steamers are expected at Hongkong with a total of 102,613 tons of coal. Since December 1st 10 steamers have arrived with a total of 36,800 tons of coal. Quotations:-
Cardiff... .$15.00 $16.00 ex-ship, nominal. Australian $10.00 $11.00 ex-ship, steady. Yubari Lump...$12.00 nominal. Miiki Lump ...$11.01 to $12.00 steady. Moji Lump... $9.50 to $10.00 ex-ship steady, Akaike Lump...$10.00 to $10.50 steady Bengal.......... $8.75 to $9.25 steady.
Sales during the interval aggregate 14,670 bales, arrivals amount to 20,288, and stocks estimated at 78,000 bales.
Local Manufacture:-Lower prices have induc- ed a considerable business in these threads and we hear of the sale of 2,700 bales No. 16s at $104, and 1,100 bales No. 12s at $167).
Japanese Yarn:-The only business of the fort- night has been the sale of a parcel of 50 bales No. 168 at $132.
Raw Cotton: Indian descriptions continue very dull and sales of only 870 hales Superfine Bengal at from $223 to $20 are reported. About 130 bales Thoongchow have changed hands at $25 to $24. Unsold stock 2,500 bales Indian, 200 Chinese. Quotations are $20 to $23 Bengal. and $23 to $26 China cotton.
Exchange on India, after touching Rs. 151 for T/T and Rs. 151 for Post, closes steady to-day at Rs. 153) and Rs. 153, respectively. On Shang- hai 71 and on Yokohama 100.
The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 9th instant, viz :—
Indian:-Market active with a fair demand, both real and speculative, total sales 9,250 hales, rise in values 1 to 3 Taels, and unsold stock 70,000 bales.
Japanese :-
-
Have attracted more attention,
total sales 6,500 bales on the basis of Tls. 90 to 971 for No: 16s, and Tls. 102}|to 104, prices ruling steady to firm.
Local:-No new business
reported, the mills being fully engaged over their forward contracts.
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai 7th December, 1905, states:-A question of most vital importance to the import trade of China is undoubtedly the establishment of a proper mone- tary system, and the promise of it was one of the most important clauses in the Protocol signed by the representatives of Great Britain and China after the Boxer troubles. How have the terms of that Protocol been carried out? China has been allowed to enforce on Foreign trade just those clauses that have suited her and added to ber revenue, but the rest have been quietly per- mitted to remain in abeyance, so that the For- eigner and his trade are in a much worse position than they were before. The promised and stipulated reform of the coinage system, which was intended to put China on the same monetary basis with the rest of the civilised world, has resulted in an indiscriminate issue from numerous provincial mints of a coinage that is only current in its parent locality, and has unquestionably
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