314
COMMERCIAL.
SILK-
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CANTON, 2nd October, 1906:—Silk market.-- The fortnight under review was a very exciting one, very large transactions have been booked at prices which advanced daily. Finest sizes com- manded full prices owing to their extreme gear- city, they are almost unobtainable, coarser sizes and Shortreels showing more advantage to pro! ducers. The feature of the market was the sind-, taneous rise in Native values and Exchange; the high pretensions of holder being upheld by the exorbitand prices pay for 6th crop cocoons, American buyers promptly responded to the movement, and a good business has been done at or about our quotations. Waste Market. Some important purchases have strengthened the market in Canton, where stucks are con- siderably reduced, in the producing centres the, prices of all clases have continued to advance daily, under the influence of a small supply and ¦¦ active native speculation. Holders are finan- cially strong and able to keep up to the high level for some time to come. Pierdo Caccion." rende- inent 75 per cent, have fetch $89), and are in good demand, not only for foreign buyers, but also for Chinese consumption, which is rather active., Stocks of silk in Canton: 300 bales.
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COAL.
Messrs. Hughes and Hough, in their Coal Report of 1st November, state that 16 steamers are expected at Hongkong with a total of 49.200 tons of coal. Since October 25th, 7 stemmers. have arrived with a total of 24.500 tons of coal. Quotations-
Cardiff..
$15.00 ex-ship, nominal Australian .89.50 to 39.75 ex-ship, quiet. Yubari Lump...812,06 nominal. Miiki Lump ...812.00 nominal.
Moji Lump....$7.00 to $8.00 ex-ship, steady. Moji Unscreenedștiț*) to $7,00 ex-ship, steady. Akaike Lump...$9.00 to $9.50 steady. Bengal...
S900 to $9.50 nomiml.
RAW COTTON. HONGKONG, 2nd November-Fair business at a slight rise. Stock about 1.000 brakes.
Bombay.. Bengal (New), Rangoon
and Dacca
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HONGKONG WEEKLY PRESS AND
chow, Canton, and all places on the North and West Rivers, Hoihow. Kwang-chow-wan, Hai- phong and Yunan.
3.—If the foregoing four proposals are approved by the importers, the yarn dealers will make a deposit of 34 cents per bale upon delivery, whether purchased before or after the agreement, such deposit to hear interest at ti per cent. pr annum, to form a fund to secure the undersigned yari dealers against any default they may incur towards the importers on account of purchases unde after the execution of the agreement. If any of the undersigned go out of business after; the clearing of all their purchases male since the date of the agreement and after settling up all accounts relating to same, their contribution towards the guarantee fund, after all deduction (if any), shall be refunded to them together with the interest due thereon. No refund, however, shall be hade until the 'fund reaches the sum of $100,000. Payments of fifty, conts per bale deposit are to be made by the yarn dealers until the fund reaches a total of $270,000 when such payments shall cease.
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(November 2, 1906.
Liverpool market for Cotton is quiet and quota- tions are lower. Reuter quoted Mid-American 6.291.. but private wires received to-day make it 6,27d. Egyptian is 93d. The latest New York quotation was 1099 cents, for January option. The market there is said to be quite cleared of 285 yard and 3 yard makes, while there is a good home demand for 3.25 yard cloths and also the Red Sea ports. Prices are falling away for imported yarns as exchange rises, and operators are only buying from hand to mouth. For the kwal spinnings prices are being upheld by the forward contractors, who are clearing very slowly. the mills carrying heavy stocks for them. Cotton is being kept up apparently for the benefit of the short sellers for this month. There has perhaps been a little wore enquiry this week and in one or two quarters we have heard of small orders going through for Manchester staple makes for the early Spring trade, but they were quite the exception. In dyed fancies a steady flow of small orders continues to go forward. The only spot business to speak of is at the regularly weekly auctions where prices have kept steady to firm
In case of failure or other causes diminishing ↑ throughout. the total of $250,000 the yarn dealers shall resume payment of the fifty cents per bale until the fund again waches $250,000 when such pay- ments, are again to cease,
Sales during the interval are wit, arrivals amount to 1,9i hales, stocksestimated at 98,000, and sold but uncleared yarn in native hands
35,000 bales.
Local Manufacture :-No business,'
Japanese yar : — Sales of 450 bales No. 20% at $125 to $130 are reported.
Raw Cotton :—Nothing doing in Indian'descrip- tions, but about 200 bales Thoongelow are reported sold at $24. Quotations are $19 toß22 Indian and $22 to $25 Chinese.
Exchange on India closes today at Rs. 1708 for TT and Rs. 171 for Post. On Shanghai 724 and on Japan 112.
PIECE GOODS.
Messrs. Noel Murray & Co.'s Report on the Shanghai Fieve Goods Trade, dated Shanghai, 25th October, 1906, states:-Another month is drawing to an end without much relief coming to our market. The only satisfactory feature being $17.50 to $20.50 per pel., the continuance of really almormally fine weather, even for this proverbially fine month. The country people have certainly had most exceptional opportunities for their harvest opera- tions, which cannot fail to largely compensate
20.50 to 22.00 Shanghai and Japanese 24,0% 1« 25.00 Tungehow and Ningpo 2100 to Reported sales, 230 hayes.
YARN.
25.00
Mr. P. Eduljee, in his report datel Hongkong, 2nd November, 1998, says: -The long expected crisis in our yarn market has been reached and the developments of the next two weeks are to be watched with the gravest concern. Dealers finding it impossible to do lusiness under existing con- ditions have modified their previous à proposals and laid them before importer's for their favoura- ble consideration, viz:
1. That the importers allow the differences on the dealers' purchases to be divided into 3 equal, parts at time of taking delivery; one-third or one part to be paid in cash on delivery, one-third or one part to be paid by Promissory Notes at 12 months date, and the balance or the third in 24 months from time of delivery, such Promissory Notes to bear interest at 6 per cent. per annum.
2-That the importers allow the yarn dealers 12 months to clear off all their purchases, on the understanding that the yarn dealers will take at least one quarter of their holdings every three months.
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EXCHANGE,
FRIDAY, Nov. 2nd. ON LONDON.-Telegraphic Transfer...2/34
Bank Bills, on demand
..2,31% Bank Bills, at 30 days' sight... .....2:3, Bank Bills at 4 months' sight
2/312
2/41
Credits, at 4 months' sight Documentary Bills, 4 months' sight 2/4) ON PARIS-Bank Bills, on demand... 2391
Credits 4 months' sight.
ON GERMANY.—On demand
293
2341
ON NEW YORK.—Bank Bills, on demand 55%
Credits, 60 days' sight
561
ON BOMBAY.-Telegraphic Transfer...17
Bank, ou demand
171
ON CALCUTTA,—Telegraphic Transfer 170
Bank, on demand......
..17 ·
7!!
731
112
}
ON SHANGHAI-Bauk, at sight...
Private, 30 days' sight
ÜN YOKOHAMA.-On demand ON MANILA.--On demand ON SINGAPORE.-Oa demaud ON BATAVIA.-On demand.. ON HAIPHONG.-ON demand ON. SAIGON-On demand ON BANG...oh. -Ôn demand SOVE EIGNS, auk's Buying Rate GOLD LEAF, 100 fine, per fael
BAR SILVER, per oz.
9 p.o.pm.
1384
11 p.c.pm. .1 pc.pm.
.61)
$8.65 .846.10
HONGKONG QUOTATIONS, Hoxokose, 2nd November, 1986.
Aprient
Borax
Cassia
Cloves Camplior
Ców Bezoar Fennel Seed Galangal
Grapes Kismis Olibanum
Oil Sandalwood
"
Rosa... Cassia Kaisins Sandalwood Saltpetre
.$12 to $13
$17
19
$15
$18
$17
$36
$160
$130
$140
$6
$17
M
$20
$2
E
3250
$13 $350
$50 $150
*
$200 $6
+1
+
.$19 $11
MISCELLANEOUS EXPORTS.
for the reverses earlier in the season, and if the demand for imports does not show a vast improve- !ment after this there must be something very radically wrong, Unlooked-for circumstances have helped to lower prices of the stai lo makes to a level considerably under what they have len for years which should certainly stimulate | the consumption. A very noticeable feature of the trade is the rapidly growing demand for the more expensive and less durable Fancy Cloths, which goes to show that it is not the impoverish- ment of the country that is making the deand for plain fabrics so dull. Fashions are changing, and there can be no doubt that the tendency will be for all, except perhaps the labouring classes, to make more and more use of foreign ready-made under clothing in place of the wadded cotton garments that have been in vogue for so long a time. Although fresh business in still practi- cally at a standstill more movement is notice. able amongst the natives, importers finding clear- ances of former purchases gradually improving. This has been the case more particularly with the northern markets, which are apparently anxions to lay in supplies before their seasons close. It is reported that a fair quantity of American makes have been resold chiefly for Tientsin, but Newchwang is also taking some, as well as fancy goods, some fair lines of Venetians being specially mentioned, It has been announced during the interval that the Japanese and Chinese have come to an understanding now that the former will give up the administration of Newchwang on the 31st December, by which time it is hoped all the questions regarding Customs Houses, etc., in ! Manchuria will have been settled. The Japanese are evidently able to trade up there as one of the leading firms here has been buying Indian yarns on this market and shipping them up, though possibly they are going via Dainy. Shipments 25 bales waste silk. For Dundee:-70 bales tea to the Yangtze ports are improving. Singpo is quiet, but Tsingtau and Chefoo are still showing a fair demand.; The Manchester market is strong. a telegram this morning reporting that prices are advancing owing to the scarcity of yarn cansed Quotation for many by the spinners' strike. articles are quite prohibitive, though here and there, but more particularly in fancy makes, a small forward business has been done. The
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3.-That the importers will forego and not collect from the yarn dealers the usual two cents per bale per day, charged for glown rent, in- surance and interest on the uncleared cargo, as well as on the cargo already cleared. That future purchases of cotton yarn be cleared by the yarn dealers within three months from date of purchase, after which date the importers shall be at liberty to re-sell the yarn at the then; market rate, and all differences shall forthwith be paid by the yarn dealers concerned.
That the importers enter into an agreem ment with the undersigned yarn dealers agiéving | to sell their cotton yarn to them exclusively for the term of three years, and not to sell or deal with any other yarn dealers, old or now, so long as the; names of such yarn dealers do not appear in the agreement.
The undersigned yarn dealers agree to purchase about 200,000 bales of cotton yarn from the importers every year for the term of three years, such 200,000 bales to include the present stock of uncleared cargo, while the importers agree not to ship or sell their yarn to Swatow, Amʊy, Foo.
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Per steamer Machaon, sailed on 10th October. For Port Said:-13 rolls matting. For Suez: -50 cases cassia. For Alexandria :- 200 cases cassia. For Harve:--123 bales canes, 54 cases camphor. 30 packages tea, 161 cases china and black wood- ware. For Harve, London or Hamburg :--20 cases vermillion. For Havre, London or An- twerp: -40 cases cantharides. For Havre, London, Hamburg or Antwerp:-50 cases bristles. London: 885 boxes tea, 50 cases pearl shell, cases cantharides, 144 rolls matting, 260 bales canes, 2,797 cases preserves, 300 casks preserves, 40 boxes essential oil, 100 casks soy, 149 hales feathers, 386 bales canes. For London or Glas- gow :-751 casks preserves, 1,125 cases preserves. For Swansea : – 216 bágs ore. For Manchester :--
For
mats. For Leith: --50 casks preserves, 300 cases preserves. For London, Hamburg or Antwerp ---- 75 cases bristles. For Hamburg :-330 bales canes. For Rotterdam:-200 bales leaf tobacco. 6 cases cigars, 253 rolls matting, 349 casks preser- ves, 210 cases preserves. For Antwerp:-301 bales leaf tobacco, 150 bales split bamboo, 85 rolls matting, 33 bales feathers 200 bales bamboo scraps, 20 cases bristles.
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