CONSULATES CLOSED. ›
By the departure for home of Mr. F. O. Beston, who was for many years' soting as H. B. M. Vice Consul at this port, the British Copelate is closed until further notice under instrdétion": "from the British Minister in Paking. The Iste Mr. Pacheco was in chi 5 of the Italian and Siamese Con-
these sulates, and since his death
THE HONGKONG WEEKLY PRESS AND
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[June 11, 1906-
the last two years is withdrawn, he is likely to | return for the oathys they nơy find himself compelled to do without a large | ing back on the figures of tå amount of what he has lately come to consider for the last few years, it is necessary. It was the turn of merchants that when now the balance on the east couss to gain by the increased roaches the above high figure, wealth of the Coreans; for daring the in 1902, only three years ago, previous year though they had the money there was no supply of goods available
он. two for them to spend it
The 1904 | shipping and transport of goods too
| insecure and the cost of such transport
lso dested to exist. All the Consuls for other countries are residing in your port, hence with the exception of the consular | for merchants to take great risks, but sim agent for France no consulate is now existing in kaseão.
nume
80
WEEK-END VISITORS.
mérs
With the approsch of the hot season, week end visitors from Hongkong are getting more - and with 'the facilities afforded by thing cheap Sunday ir to be crowded every people. The hotels Spers are expecting gladly make hay while
the sun shines,
TRADE OF SINGAPORE.
The Straits Settlements returns of imports and exports for the year 1905 have just been published.
The imports, exclusive of treasure, come out
thus:
1905 1904
$331,620,854 £33,845,37| $337,063,088 £32,305,793
$5,442,284
Decrease in Dollars Increase in Sterling
£1,539,578 Singapore accounts for $238,317,216 against $245,079,225 in 1904. The decrease is most manifest under the head of raw materials, Penang shot up by over 14 million of dollars.
The exports, exolusive of treasure, show thus:
1905 ... $277,587,919–£28,332,714 1944 ...
$265,158,779÷÷£25,419,451
Increase in Dollars
$12,429,140 Increase in Sterling... £2/913,263 Slugspore, depressed from $199,956,427 in 1904 to $197,618,811 in 1905. The falling-off is wholly under the head of raw materials. Penang shows increase amounting to about 314,600,000. The value of tin exported from Singapore fell off from 341,795,671 in 1904 to 33,979,833, in 195 Penang's tin exports increased by over 74 million dollars.
The imports, including treasure the gross
value-are:
1904 1905
$383,942,088 $345,037,789
$326,198,851
$296,247,931
The imports, excluding treasure, are:
1904
1905, The conversion rates have been taken at about 1/11 in 1964 and 2/03 in 1905.
COREA'S TRADE IN 1905:
IMPORTANT DEVELOPMENT.
The Report on the Trade of Corea and Abilenet of Statistics for 1905." by Mr. H. W. Davidson, Chief Commissioner of Customs, opens thus: -
General The year 1905, even beyond the preceding, has proved a busy and doubtless a profitable one for merchants in Cores. To have foretold, even only three or four years ago, such an expansion of Coren's trade as has taken place would have been impossible for the most sanguine.
The increase of money in circulation owing to exfensive opérations on the part of the Japanese Government and large private companies is no doubt still responsible for the increase in the demands of the Coreans: It only remains to be, shown whether after the money labourers and the working classes generally bare obtained irregular source has all been expanded, kets for foreign commodities will be fume the same large quantity of has been brought in during the last It is trait of the Corean character spends "money when he has it and ou the best he can obtain, but none with a view to providing against loss erous times. Consequently when the source the income he has been receiving during
3.4
stively small aoiount of Y160,233 while in 1900 there was over two million yen in During the last two yours while the war in progress the published figures ars extent misleading. -- Large quantities have been imported and exported by which are not included in the Customs end of the war the quantity of merebak shipped to Wonsan has surpassed the volume and for these imports Corea did not pay of any previous period. Towar is the end of receiving payment for the exports.
Revenue For the 'first time the the year also communication between the east const ports of Corsa and Vladivostok was re-ediboted by the Customs has opened, thus making available another market million yen, reaching a total for t for Corean products. The demand for fresh review of Y2,293,250.17. Of thin beef for Vladivostok had created, quite a brisk duties account for Y1,986,794.23, 19 trade for a short time before the qutbreak of the largest amount, ever collected,“ erõsedi 'war,
total for 1904 by Y466,691.03, that of 1903 The orops of cereals, though not so good as Y974,806.06. Export duties amount they were confidently expected to b", gave a Y269,919.69 and show a further decline of ́fairly average yield. But for a prolonged rainy | Y28,090.46.7 Tonuage dues again make a season-the rainfall of the month of September cord, amounting to Y02,588,25, being an eroseded even that of July or August and theorease of Y9,299,50. Every year sese larg exceptionally severe storm of the 3rd of Septem- steamers put on the regular lines porvian ber, the crops would have yielded returns far Corean ports, while the occasionall above the average, all other factors being steamers direct from Europe and Amérita be- come more frequent and thus subsoribe to this specially favourable,
source of revenue,
י.
During the past year the currency of Corea bas been changed. The old nickel coin has been for the most part replaced by a newer and better, bearing the same face value as the Japanese five sen piece and backed by silver fifty and twenty cent pieces. All of these are interchangeable at par with the Japanese coin- age. The remainder of the old nickel coinage is now regularly exchanged even in the open market for the new and the Japanese currency at a fixed rate of two of the old coins for one of the new. The greatest advantage of this system will be felt by merchants in being able to estimate and make contracts with natives without having to reckon on any sudden variation of the exchange between Japanese and Corean money as has always been the case in business transactions between Coreans and foreigners during the last four or five years.
The gross value of the year's trade, without including gold or the trade with non-Treaty porta, has been as follows :- Foreign goods imported from abroad 23,971,652 Foreign goods imported from native
ports..... Foreign goods re-exported abroad... Foreign goods re-exported to native
ports
Yen
4,839,773
1,012,270
I
5,050,872
Native goods imported from native
ports
4,933,073
Native goods re-exported to native
*ports
Exports abroad
Exports to native ports
Y60,868,609 This shows an increase of more than seven million yen over last year's total. If from this total we deduct the value of goods that are entered twice for the same consignment, as exports and re-exports to native ports which are included in the total of imports from native ports, and add the value of goods carried between Treaty and non-Treaty ports; we get value of Y59,50,000 as the value of goods carried by the 9,948 vessels of 2,000,624 tons burden entered during the year.
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THE CHINA MUTUAL LIFE- INSURANCE CO., LTD;
The eighth annual meeting of sh vrohölders" in this Company was held at Shanglint on May 30th.
Mr. John Ford (Chairman) said—It given". me great pleasure to again be able to point out the continued progess of the Company for the past year. Our income shows an increase over the previous year of over Tis. 250,000; öür Reserve, of over Tis. 86,000; our, Amets, of over Tis. 865,000; and our Insurance in force, of over Tis. 3,200,000. I am also pleased to state that we have sebured the serviced of A. J. Hughes, as Secretary and Actuary, who placed our Reserve on the same standard i of home companies, thereby placi, g much stronger position than formerly. nothing further to say, but should any pres wish to ask any questions, I am prepared to answer them.
There being no questions, the Chairman" posed: That the Directors report for the ending 31st March, 1906, as submitted to this meeting, he and is hereby approved."
In seconding the adoption of the Rsport, Mr. Hughes referred to his gratification at having 223,862 entered the services of so influențial a Company 6,904,301 and one with unusually brilliant prospects. He 4,432,606 doubted whether many foreigners in Shaugkal appreciated the fact that there had been bulle up in their midst as large and important institution as the China Mutual. He ata hari that the income was now in excess of Tla 1,500,000 per annum, that the Compaby w now investing the net surplus earnings over 'Tls. 100,000 per month in first-class s our ties, bearing exceptionally high rates of interest compared with those realised with other British, Colonial, and American institutions. Hẹ that in his experienos "the rate of enjoyed by the China Mutual "was at per cent, higher than other Companies • to obtain, whose investments are not l Referring to the change in surplus, that the new basis hail required by about Tls. 150,000, and yet the been able to show an increase in its notwithstanding that this amon taken out of such surplus, and reserve held for the security holders. He attributed the Con tory showing · largely to company was organisəd- operated in Chins at of conduc'ing the banner. lack of competition, kept than is generally –expei writing such an amonat not think it possible that Company could ever hope to a results, and that with at the meeting in their han
In considering the direct foreign trade only, showing not total imports of Y31,959,582 and exports— goods *Y6,904,301 and gold Y5,206,805 of Y12,111,106, another enormous balance against Corea of T19,848,476 is recorded. But, +85 usual, the Treasure Tables beyond Gold show no export to balance this sum, the excess of imports beyond the amount brought in by the Japanese Government may still be regarded as the equivalent of moneys paid in wages and for foodstuffs by the Japanese army and as capital and plant brought into the country by investors. Goods brought in by the Japanese military authorities which are not to be sold in the country may be deducted from Cores's in debtedness as no return is expected from them [[even now or in the future, but whatever is brought by private companies for sale or for improvement of their plant must be included as at some time the promoters hope to get some
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the Company's