446
COMMERCIAL.
KOBE MARKET REPORT.
The Kobe Market Report, published under the directon of the Kobe Foreign Board of Trade. and dated (Kobe) Hiogo, 14th December, 1906, has the following :-
IMPORTS.
- Since
1
our
Cotton. American.
last report quotations for "forward were inaintaining a firm attitude, but prices dropped very appreciably yesterday upon it being officially reported that the new crop was estimated at over 12,500,000 bales. Notwithstanding this movement, legiti mate transactions are still impracticable owing to speculations which continue. Spot business is small in consequence of shortage of stocks. closing quotation heing Yon 3350 for Middling, Indian. The past fortnight has seen but little change; the recent drop in price of American cot- ton, however, has affected the Indian market, and prices have become easier. Spot business is small. Quotations are:-Best Broach, Yen 29: Yeoth- in, Yen 23; Akola Khamquam, Yen 21; Bengal, Yen 20. Chinese.-There is no change to report, transactions being small. Best quality, Yen 20: Common quality, Yen 25. Shirtings.-Little or nothing doing. Cotton Goods and Fancies.-- For- ward enquiry quieter. Worsteds and Woollens.--- business continues satisfactory. Window Glass.- Market slowly following the upward tendency of the producing country. Metals. Home prices continue to advance which tends to restrict froh forward business, Some speculative re-sales in Pig Iron are reported at 6ld, (Kobe). Sugar.— Beet. The home markets have shown an upward tendency since the end of last month whereas prices in Japan remain stationary; under these circumstances chances for business are more re- mote than ever. Cane.--There is no demand for | imported Refined and no business to report. In Raws the market remains quiet. There has been some inquiry, but the ideas of sellers being con- siderably above the price consumers are prepared to pay no transactions have been concluded. Osaka Refined--At the auction held on the 7th
instant 8,500 bags change hands, Some of the higher grades obtainedan advance of from 3 to 7 sen, but the lower qualit ́es were sold at the Rice-Stocks rates fetched at the last auction.
are moving slowly, but mine inquiry for new crop February to March shipment.
-
EXPORTS.
Fish Oil. No change to port. Copper-The market is in an excited condition owing to the report of a further advance in London, and it is difficult to come to terms with producers. Rice.- Market firm, but very little business for export doing. Cotton Yarns.-A slight improvement in export, with prices steadily advancing for spot and forward. Vegetable Wax.-Nothing doing but dealers maintain their firm attitude. Matting. Certain negotiations which have heen pending between exporters and suppliers not having as yet been concluded, business has practically been at a standstill. Prices have remained unchanged in consequence. Straw Braid. -Supplies have been coming in more freely during the past fortnight, a large number of plaiters having been released from field work in connection with the Rice harvests, The strong demand for certain descriptions, how- ever, has well maintained prices generally, and a firm market is reported in the producing centres. Chip Braid good demand existed for this article, and prices have been well sustained.
YOKOHAMA MARKET REPORT The Yokohama Prices Current and Market Report, published by the Yokohama Foreign Board of Trade, and dated, Yokohama, December láth, 1906, has the following
:-
No
IMPORTS.
lifeless. Yarns. Market
Shirtings. change since last report. Fancy Cottons and Woollens.-There is some enquiry' but very little business is being put through. Metala.—All lines are quiet, owing to the approach of the end of the year. The feeling seems to be that top prices have now been reached in the home mar- kets, and that it will pay to wait until the change of the year before buying. Kerosene.--Market very firm. Sugar-The tone of the market is firm, consequent upon the comparatively good demand at the end of the year. At the auction of the Tokyo Refinery on the 6th instant, there were 5,100 bags of various grades sold at prices ranging from yen 15.85 to yen 14.15. The next anction will be held in a few days, and it is gener- ally anticipated that the prices offered then will be higher than those of the previous sale. There is no enquiry for imported Refined. Indigo (natural).-
-Recent arrivals of about 60 Madras Indigo have found purchasers at good prices, and a small business is also reported in Java Indigo.
Cases
HONGKONG WEEKLY PRESS AND
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GENERAL EXPORTS.
Copper.- -A few more sales of Furukawa brand are reported at figures from Yen 56 to Yen 60 per 100 kin for delivery till September, 1907. In sympathy with the strong position at home the market closes very firm. Fish Oil-A few thou. sand cases are reported sold at Yen 7.20 to Yen 7 80 per 100 kin.
SILK REPORT.
During the fortnight under review, prices have again advanced by leaps and bounds, so that quotations in some instances are even Y50 higher than last reported. Searrity of stock is already begiuning to be felt, which remark refers more especially to Kakedas and Rerols, of which latter Silks no more than about 300 bales “Chop Silks," viz.. Usuisha, Kaurasha, and Simonita, are ex- posted to arrivo during the balance of the season.
At the close things generally are very firm, and quotations for several grades quite nominal.
WASTE SILK.
A regular business doing, prices tending up- wards with every new transaction. Settlements from November 29th to December 11th :-4,830 pienls. Total Settlementa from July 1st to December 14th:-21,000 picula. Stock on the 11th December is estimated at 20,500 pienls, viz: -Noshi 8,600 piculs; Kihizzo 9,900 piculs: Pierced Coccons-piculs; Sundries 2,000 piculs.
RICE.
Sudy. 11th December, 1906 Old grain is almost exhausted, and the little remaining is held
at high prices. Now Paddy has begun to appear in small parcels, and will come in more freely during the next month. Prospects of the new Crop are on the whole very fair, Paddy is DOW being harvested in most of the districts, and the out-turn is expected to be a very fair average. Transactions cluse, so far, with Europe and ueighbouring ports have been but on a small scale. We do not expect to see our market in full swing before the beginning of next month, when a mor accurate opinion can be formed as to how valneg are likely to settle:
[December 29, 1906
the neighbourhood of Rs. 151 in January and is quoted to-day at Rs. 167.
The great drawback to the trade is the over- oroduction in India and consequent overflooding If the China markets regardless of season and ocal circumstances. In this connection the re-t marks made by the writer in his annual repor for 1898 may be more appropriately repeated.
So long as the business continues on a scale "of commission to Hongkong houses commen- "surate with about a labourers' fair day's pay "results do not immediately affect the sellers here, " and if all yarn that cannot be sold on the spot in Bombay is to be consigned, so long may the present state of business in them he reasonably expected to continue to the detriment of legitimate trale.“
*
40
On 30th June, 1906, there were in India 217
Spinning and Weaving Mills working and in course of erection, running 3.279,695 spindles and 52,668 looms, employing daily 208,616 average number of hands and consuming 2,023,510 bales of Cotton.
Considering that only 3 or 4 buyers are left in the market a fairly large business has been effect- ed during the past fortaight. Demand has run chiefly on well known superior favourite spin- nings of No. 10s, which comprises more than three- fourths of the settlements. Values have further receded $1 to $2 per bale, the higher counts suffering the most. Shanghai is reported very active and advancing, and has tended in a great measure to strengthen holders and rally thu small, but a very heavy addition may be noted market. Receipts during the interval have bee
in our estimate of unsold stock which includes about 70.000 bales recently held by our insolvent, dealers and which have fallen back upon sellers.
Sales of the interval aggregate 6,927 bales arrivals amount to 5,670, and unsold stook estimated at 166,000 bales.
Local Manufacture :-After some interval the sale of 150 bales No. 10s at $75 to $81 are reported.
We quote for New Grain, February March $130 are reported to bave changed hands.
Japanese Yarn:--About 150 bales No. 20s at delivery.
No 2 White sifted (fzá) steam milled
(round)
No. 2 White unsifted fordinaire) steam
willed (round)
5% Cargo steam milled (round) 10 Cargo steamu milled (round! 30% Cargo stentn milled (round)
Z
$3.20 $2.75 $2.70 $2.65
Prices according to terms and conditions.
YARN.
Mr. P. Eduljev, in his Report dated Hongkong 25th December, 1906, states: -To-day marks the end of the season, and a casual glance at the progress of the trade during the past twelve months cannot be out of place
Imports to Hongkong amount to 269,869 bales
as against 398,696 bales hast year, and sales aggre-
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advised.
Raw Cotton:-The market continues in the same dull and dragging state as previously Sales reported are some 200 bales Bengal at from $194 to $21, and China 75bales at $24. Quotations are India $19 to $214 and
China $22 to $2.
Exchange on India closes to-day at Rs. 187 for TT, and Rs. 1674 for Post. On Shanghai 78 and on Janan 110)
stage.
PIECE GOODS..
Mosers. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 13th December, 1906, states:-Although showing no great development the improvement in our market mentioned last week is still apparent, but has not yet got much beyond the enquiry It undoubtedly emanates chiefly from gate 1,818 hales as against 147,667 bales in 1990, Tientsin ; and it looks as though the merchanta showing a decrease of 26 and 47 per cent, res there are realising that perhaps they have held spectively. The decrease in imports may off long enough, seeing the small chance there is attributed to the heavy influx of yarn at the lat of buying anything in New York for direct ship- ter end of last year, in anticipation of the opening ment to their Port, for it is self-evident now that of the Manchurian markets. Considering the this market holds the only supplies that will be wretched state of the up-country demand for the available for the New Year. There has been a greater part of this year, and the suspension of fair business from second hand holdors at prices, all operations for three months in Hongkong, the however, which importers cannot possibly enter- large shrinkage in sales should create little tain, but it shows the disposition to trade is there, surprise. In briefly reviewing 1906, it may be although the current offers are fully 10 per cent. pronounced to have been the most disastrous year below replacing cost, and the customary terms the trade has experienced since its commence- for clearance are required. In very exceptional ment. With the exception of the Bombay spin-cases, where firms are in the position to do so, a ners, who have been driving a roaring trade since few small sales of cheaply bought goods have the last eighteen months, business has been more
been made to arrive, but for hard cargo holders or less detrimental to our unfortunate importers refuse to entertain offers for forward delivery, and dealers. When it is recorded that the losses while they might possibly accept cash. Amongst are roughly estimated close upon three the resales we understand a fairly large quantity millions, and that of some fifteen yarn-dealing of White Shirtings figure-goods that have been Hongs eleven have collapsed, it requires no further hanging fire for so long, and over which the hold- ers have been hoping against hope. The Man- proof to show the serious nature of the disaster of which we have not heard the last. The first note uf chester market shows no sign of relaxing and alarm was sounded as early as March last, but a buyers here of staple goods are not at all inclined sort of unusual infatuation possessed both sellers to pay the prices asked, combined as they are in and buyers, and matters grew from bad to worse most cases with fairly late delivery. American when in August the evil effects of over-trading Cotton is drooping, 5.004. being the latest spot and gambling was first felt in the total collapse quotations for Middling in Liverpool, while for of a large native dealer. Efforts were then made this month 5.55d. is the last price quoted. Os to patch up the market by the total suspension the other hand Egyptian if steadily creeping 'up, abortive in the face of incessant heavy supplies of business for three months, which also proved 10d. being Tuesday's closing rate. The New York prices for cotton that have been wired as that ought to have been originally largely curtail- ruling look somewhat irregular, namely 0.18 ed if not wholly checked. The year opened with cents for January and 9.65 down to 9.35 for March an unsold stock of 84,000 bales and ends with option. The Yarn market, for imported Spinning 166,000, the entire quantity of yarn held by more particularly, is keeping very firm. It is the insolvent dealers falling back upon sellers said that a Native syndicate which took over the with a small exception. The value of best No. 108 balance of the stock of the Bombay houses that stood at $117 at the beginning of the year and recently came to grief here are doing remarkably ooses to-day at $802. Exchange on India ruled in well with the handling of it. But however that
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