122
YARN.
Mr. P. Eduljee. in his report dated Hongkong, 25th August, 1906, says: With a very trifling enquiry for the small wants of the city, the first few days of the interval were chiefly occupied in discussing the prevailing deadlock, and as the situation was daily growing more acnte, both im- porters and dealers felt the necessity of a concert- ed action in devising measures for its prompt amelioration. With this end in view they all assembled at the offices of Messrs. E. D. Sassoon & Co., and at a general meeting there, held on the 16th inst.. unanimously passed a resolution to suspend all operations for a month, commencing from the 17th, the local dealers to cease making any new purchases, and importers to refrain from selling any fresh cargo during the said period. It is believed that this will check the downward course of the market and allow breathing time to the buyers to ease their previous heavy holdings. Satisfactory as this arrangement appears, doubts are expressed as to the practicability of thei scheme, having due regard to the volume and extent of the transactions, the serious drop in prices, incessant supplies of contract goods, and declining cotton. It is to be fervently hoped, however, that by the time business is resumed, most of the saperities of the last six months will be toned down or entirely disappear, and every- thing will turn out for the best.
Sales of the interval aggregate 813 bales, arrivals amount to 5,916. Unsold stock estimated at 76,000, and sold but uncleared goods 71,000) bales.
Local Manufacture:--No business is reported. Japanese Yarn:-A sale of 25 hales No. 20s Yellow at $1274 is the only business of the fort- night.
Raw Cotton-Sales 170 bales superfine Bengals at $21 to $221, and 136 bales Shanghai at $24. Stocks 2,000 bales Indian, and 300 bales China. Quotations are $19 to $22 Indian and 822 to $24! China.
Exchange on India closes strong to-day at Rs. 160 for T/T and Rs. 1601 for Post. On Shang hai 72 and on Japan 104).
The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 18th instant, viz:-
Indian-Prices steady to firm in the begin- ning of the fortnight, but weak at the close. Total sales about 4,000 bales with an estimated unsold stock of 110,000 hales.
Japanese-Less doing at slightly easier rates. Sales 1,500 bales on the basis of Tla. 88 to 95! for No. 16s, and Tls. 103 to 104 for No. 20s.
Local :-Prices easier, but still nothing doing.
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Pieco Goods Trade, dated Shanghai, 16th August, 1906, states:-Business in this department of trade remains at a standstill, and in every way as described last week. Clearances have been fair for the River on the whole, although the shipment of cargo was suspended yesterday, it being the birthday of H. I'M the Emperor of China. The principal features of the week to be recorded are the steady advance in sterling exchange, in sympathy with silver, and the decline in cotton in the home markets, both inilitating against the stocks at present on hand here. As regards the former it is not probable that the enhanced rates will be very long main- tained, but the latter is a very different proposi- tion, and therein lies the greatest menace to the trade, so far as present holders are concerned. The high price of cotton has been the salvation of this market for years now, and a slump in it at this particular time, when the stock is supera- hundant, will be little less than a calamity, and not at all pleasant even to contemplate. The most disastrous thing of course will be for holders to get into a panic, and, although we can scarcely believe the truth of such a suicidal policy,we hear rumours of contemplated large aue- tion sales of American goods which would complete ly knock out what life there is left in the market. It will require the greatest fortitude on the part of holders, backed up by the most liberal treat- ment of their bankers, to weather the difficult position now ahead without any fresh complica- tions, and only a policy of combined action can possibly overcome the difficulties of the situation. The unsatisfactory condition of the Northern markets is still receiving the attention of the home Governments, but no solution to the dimiculty has been arrived at as yet, and our astute neighbours are continuing to improve the shining hour without let or indrance.
The financial state of Newchwang is very discourag.-
HONGKONG WEEKLY PRESS AND
Native
Grey Shirtings — 71hs.
[Angust 25, 1906.
Market
per piece
$2.55 8.4 The
3.35 to $4,10 9 to 10 lbs. 4.10 to 5.80 White Shirtings-54 to 56 rd. 2.92 to 9.00 53 to 60.. 2.92 to 9.00 64 to 66 Fine..
"
2.92 to 9.00
2.92 to 9.00 Book-folds 2.92 to 9.00
Victoria Lawns-12 yards 1.85 to 1.80 T-Cloths~6lbs. 32 in. „. Ord'y. 2 25
7lbs. 32 ..
6lbs. 32
7lbs, 32
lo 2.90 2.25 to 2.90 Mexs. 2.25 to 2.90 2.25 to 2.90
"
8 to 8.4 oz., 30 in. 3.10 to 3.95 Drills, English–40yds., 134.50 to 5.50
to 14 lbs. FANCY COTTON-Small sales.
Turkey Red Shirtings-14 to
Brocades-Dyed Chintzes.-Assorted Velvets--Black, 22 in.. Velveteens-18 in.,
8 lbs. i
Market quiet.
per piece $1.75 to $4.50
per yard $0.12 to $0.15 ...0.07 to 0.30
0.23 to 0.45 0.22 to 0.25
per doz. Handkerchiefs-Imitation Silk ...0.60 to 1.50 WOOLLENS-Market sick. Sinall sales.
per yard
Spanish Stripes-Sundry chops$0.65 to
per piece Long Ells-Scarlet; 7-10 lbs. $7.75 to $9.35
Assorted
7.90 to 9.50
ing. credit being at a big discount and con- {. Corton Pirck Gloons-Small sales, sequently transactions are on a most limited į quiet. scale, as returns have to be waited for from the country before fresh buying can be indulged in. Exchange on this is also a little more tu- favourable and so, although there is some little movement away from that Port, nothing beyond
Tientsin a few yarns is being sent up from here. is in the throes of a dispute over a new tax the Customs are said to be introducing on all goofds going into the country, and which the buyers and sellers alike dispute their reponsibility for. and meanwhile this is given as the excuse for the stoppage of trade. The Manchester market is rather easier for most of the staple makes, though for many special cloths it would be impossible to get any concession on the prices paid in the spring for shipment early next year. Cotton is coming down with a run, especially American, the last public quotation for Middling being 5.85d.. but since that was received we
make understand private advices
it 5.39d. August.
Egyptian is about steady at 101. The fortnight's shipments of plain cottons to the Hongkong and China markets amounted to 10,000,000 square yards. The yarn market is very quiet and prices are drooping. cotton is easier. The question of the liability of manufacturers for late delivery of goods under forward contracts has come up again, and in some correspondence between the Liverpool Chamber of Commerce and the Hongkong Chain- ber certain suggestions have been put forward for imposing an ad valorem penalty, which the majority of the piece goods merchants there åre disposed to agree to, but it is secins questionable if manufacturers would consent, at all events without adjusting their prices to provide for such contingencies. The leading import hongs here consider it to be a question between the mapu- facturers and their home buyers, to whom they look for compensation or penalties. This refers entirely to the Manchester business on which the question originally arose.. White Shirtings. —A few small parcels at this morning's auction realised steady to firm prices as compared with last wek, but in the great majority of enses prices were from one to two per cent, lower. T-Cloths and Jeans.-The former showed a slightly firmer tendency at the sale this morning. but the latter are still drooping, being in over supply. Drills and Sheetings. Business is at a standstill in these markes, but clearances pre going on quietly and would compare favourably with the same period of any year prior to 1905. when re-exports attained abnormal proportions, | the expectation of an immediate continuation of which was never justified, and buyers had absolutely no data on which to base their opera- tions, it being simply a huge, mad gample. Fancy Goods.—A small indent business is being done, though perhaps amounting in the aggregate to a fair proportion it is entirely in retail quanti- ties of miscellaneous makes. Muslins, Satteens, and Reds have met with the chief attention. Turkey Reds were weaker at auction. We noticed a few cases of assorted weights of two new chops at this morning's sale, The Fast Black Cotton Italians were mostly on the down- ward grade. Woollens. With the exception of Spanish stripes, which were fairly steady throughout the week, the auction sales were disappointing, though here and there special colours of Camlets realised exceptional prices. Lastings weak, Long-Ells about steady.
|
i
MISCELLANEOUS IMPORTS.
Camlets-Assorted. Lastings-30 yds. 31 inches
Assorted Orleans-Plain, 31 in
Blankets-7 to 11 lbs.
METALS-
fron-Nail Rod
?
to 10.00
12.50
to 31.00
13.00 to 19.50
9.00
per ih.
$0.65 to $1.50
per picul
..$4.00
Square, Flat, Round Bar (Eng.)... 3.00 Swedish Bar
Small Round Rod
Hoop to 1 in
Wire, 16 25 oz.
Wire Rope, Old..
4.05
4.50
5.80
9.50
3.00
Lead, L.B. & Co, and Hole Chop ...10.10
Australian
10.10
Yellow M'tal-Muntz 14 20 oz.
41.50
Vivino's, 14/200%..
41.30
Elliots, 14/20 oz.
.41.50
99.00
per box.
G 10
Tin.
Tin-Plates.
Quicksilver,
Window Glass,
117.00
per picul.
per box. 8.60
MISCELLANEOUS EXPORTS.
HANKOW, 15th August, 1906:-The prices quoted are for the net shipping weight excluding cost of packing for export:-
Per picul. Cowhides, Best Selected...
Tls. 36.00 Do. Seconds
HONGKONG, 24th August. The prices ruling; WhiteChina Grass, Sinshan and orChayu are as follows:-
COTTON YARN-At the commencement of the fortnight a limited business was done at a reduc tion of 81 per hale. Since then owing to the arrangement between the importers and the dealers, business has been entirely suspended and will remain sof or another three weeks consequently our quotations are purity nominal:- No. 10s at $84 to $112, No. His at $107 to 8131, and No. 20s at $113 to $141. Arrivals 21,500 bales, Shipments 19,000 hales, Sales 1,500 bales, Bargains 86,000 bales. Unsold stock, 68,000 hales,
Bombay-Nos. 10 to 20, English-Nos. 16 to 24, 22 to 24. 28 to 32. 38 to 42, Reported sales 1.500 bales.
White Vegetable Tallow, Kinchow White Vegetable Tallow, Pingchew
and'or Macheng
Green Vegetable Tallow, Kiyu. White Vegetable Tallow, Mongyu
32.00
Buffalo Hides, Best Selected (loatskins, untanned, chiefly white colour,, (nom.) Buffalo Horns, average 3-lbs, each White China Grass, Wuchang and/or
Pochi..
18.00
**
8.00
Pt
10.50
"
9.90
"
Green China Grass, Szechuen Jute
12.50
5.60
10.40
21
10.20
9.50
9,50
10.00
t
16.25
"
18.50
"
9,00
"
11.00
115.00
+
(nom.)
勃
3.50
源
4.10
19
13
**
(nom).
**
39
Aniinal Tallow Gallants, usual shape Do. Plum do. Tobacco, Tingchow
Do. Wongkong Black Bristles
77
Feathers, Grey and, or White Duck. per bale
Wild Duck $90.00 to $128,00 Turmeric 140.00 to 189.00 Sesamum Seed 160.00 to 165.00
Sesamum Seed Oil
167.50 to 175.00 | Vegetable Tallow Seed Oil.
180,00 to 190.00
Wood Oil
Tea Oil
7.50
A
8.80
(nom.)