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hundred men against the Japanese troops and they challenged the latter. The Japanese used machine guns, killing twenty, while two Japanese officers were killed, A body of mutinous troops escaped into the country. The Japanese Red Cross Society is attending the wounded on both sides.
:
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TEXT OF THE NEW AGREEMENT.
The new Korean_Agreement states that the Governments of Japan and Korea, animated with the desire to develop promptly the wealth and strength of Kores and to increase the welfare of the Korean people, agree follows:-
8.8
1-The Government of Korea shall follow the guidance of the Resideut-General in the maiter of administrative improvements.
2-Legislative susctments »s well as import- ant administrative measures are henceforth to be approved by the Resideat-General.
3-Jadicial affairs are to be distinguished from ordinary administrative affairs.
4-The appointment and the dismissal of high Korsan Officers are to be subject to the consent of the Resident-General.
THE HONGKONG WEEKLY PRESS AND
COMMERCIAL.
The Kobe Market Report, published under the direction of the Kobe Foreign Board of Trade, and dated (Kobe) Hiogo, 16th July, 1907, has the following
IMPORTS.
Cotton-American.-The high rates for "fu- tures " which ruled during the early part of the past fortnight were caused by the unfavourable crop condition which was reported at 72 per cent. by the US. Government on the 3rd inst, when good Middling sprung to Yen 44. This rate, however, was not maintained for any length of time, as latest quotation is reported at Yen 40.50 for Middling, but no business is practicable at the-e bigh figures. "Spot" still remains nominal at Yen 36 for Midding. Indian.-Some "forward" business has been done in a few special growths such as Tinnevely and Western at Yen 29.75 to Yen 80 and Yen 28 respectively, but on the whole the market is very quiet. Spot" remains very dull. Closing quotations are:-Broach Yen 30.50; Yeothmal Yen 25.50; Akola Khamguam Yen 24 Bengal Yen 21.50. Chinese.-Both "forward " and "spot" remain very quiet. Quotation closes at Yen 30 for best. Shirtings.-Market quiet. Cotton Goods & Fancies, Worsteds & Woollens.- A small business has been done for forward delivery during the past fortnight, but the volume falls somewhat short of previous years, and buyers are very slow in deciding, the cause no doubt | being the advanced prices ruling at home and the very poor figures obtainable on this market. Metals. Market quiet. Sugar.- Beet.-Market | weaker and prices declining. Cane-Raw. Owing to the long continued rain the market is The principal feature of the Agreement is very quiet. With an improvement in the weather to be found in Articles 1 and 2, stipula ing conditions a brisk demand is anticipated. Osaka that the guidance and approval of the Resident Kefined. The market continues quiet with up- General are to be the line qua non in admini-ward tendency. No auctions have taken place strative and judici: affairs. Article 7 refers since 7th June. Rice.-Market stronger. to the abolition of the post of a Financial Adviser. The N.-C. Daily News says that in consequence of the extension of the Japanese mandate political leade s in Tokyo are prepared to interpret the Agreement in the widest sense and intend to avail themselves of the complet fully.
5-The Government of Korea will engage as Korean officials Japanese recommended by the Resident-General.
6-The Governmeut of Korea nodertakes not to engage forsiguers without the consent of the Resident-General,
7-The first clause in the agreement of August 22nd, 1904, is to be abrogated.
THE LATE MR. W. RAMSAY.
One who had long known the superintendent engineer of the China Navigation Co., whose death at sea, while on his way home for medical treatment was announced by us yester day, writes :----
#1
Mr. Ramsay came to China in 1875 as second engiveer of 2.8. "Danube" of Handyside & Co., of Leith, the pioneer steamer in the Baugkox trade, was promoted in time and, short'y after, with Capt. Hopkins in command, joined the then new steamer, the Rajanattianubar 48 chief engineer. As the fleet increased, consisting of the four steamers "Danube" "Rajabattisunbar" Consolation" sod "Dale," Capt. Hopkins became general manager, and Mr. Ramsay superintendent. In 1882 it took the name of the Scottish Oriental 8.8. Co. Ltd., gradually increasing in size until its purchase by the Norddeutscher Lloyd, when Mr. Ramsay wAS appointed as superintendent engineer of the China Navigation Co. which position be he'd till his death.
(4
WAS
He
He was known as a wonderfully large-hearted and generous man, 10 whom до tale of
vain. made in genuine distress took an absolute pleasure in assisting those that needed it, and no ens but his close intimates knew of his quiet, unostentations charity. ▲ man of strictest integrity, who did his duty thoroughly his death has made a void in our midst which cannot easily be filled and no more appropriate epitaph can be given him than:
**
“Write me as one who loved bis fellow man.' Another friend of his writes:- Though comparátively old in years, Mr. Kamsay was young in spirits. He was remarkably vigorous, and no one would have guessed from his appearance that he had spent over 30 years in the "ras'. He had all the instincts of a sportsman and followed the game of bowls for years, having identified himself with the K-w. loon Bowling Green since its inception. He was always a keen bowler, but never succeeded in lifting a trophy till this year, when he won the championship. In the social life of the Colony be t ok his part, and the St. Andrews' Soolatý lower by his death one of its oldest and most prominent workers.
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Tea.
HIPORTS.
Settlements amount to piculs 48.000 against piculs 46,000 to the same date last season. Second crop is reported to be in short supply Fish Oil.Market weak with downward ten- dency, no transactions reported. Quotations are:- Sardine Yen 8.25; Shark Yen 8.50; Whale Yen 9.50; Cod Yen 9.00. Copper.-Only a few transac- tions have taken place last week; London values have again declined. Rice.-Market very frm and small supplies. Cotton Yaru.-A fair busi- ness has been done. The market has recovered slightly in sympathy with the firmness in prices of American Raw Cotton. Vegetable Wax.-- slightly firmer. Matting.-No news to chronicle Market practically unchanged, but quotations since last report-stocks are scarce and a good demand prevails, consequently prices have re- mained very firm. Straw Braid-Small lots of new season's straw goods came to hand during the past fortnight and appear to have given satisfaction. Prices, which continued abnormally high, were well maintained by a good demand, the market closing firm with upward tendency. Chip Braid.-The demand continued strong for various descriptions, and prices have been well maintained. The extra length given in the bund- les after last July, when the new 1 shaku 6 sun frame became compulsory in Guild districts for both Chip and Straw Goods, has also had the effect of advancing prices.
BILK.
The following is taken from Mr. F. C. Heffer's Report, dated Shanghai, July 25th-Telegrams report quite markets at home and quote Gold Kiling in London at 13/9, and in Lyons at Fcs. 36.50. Raw Silk. The market has been active during the past fortnight and some 1,200 bales Tatlees have been booked for the Continent. The market closes firm, and for Gold Kiling dealers have secured an advance of Tls. 5 per picul. Steam Filatures.-About 500 bales have been settled in fine sizes for the Continent. Hand Filatures.-Have been in request for Europe. Yellow Silks.-A considerable business has been done in Mienyangs, purchases of 8. T. chop amounting to some 200 bales at Tls. 355/357) for No. 1. A firmer feeling now prevails
on the market for these Silks,
OPIUM.
to
Hongrong, August 2nd. Quotations are:-Allowance net to i catty. Malwa New
.$840 to per pioul, Malwa Old
...$830 Malwa Older
$900 to Malwa Very Old .$940 to Persian Fine Quality $650 to Persian Extra Fine ...$700 Patna New Patna Old Benares New
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Beurres Old
do.
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do.
do.
to $815 to
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.$810 to
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[August 5, 1907..
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Fisce Goods Trade dated Shanghai, 25th July, 1907, states-There is little or no change to report in our market, which continues very firm in appearance, although there is not much in actual transactions to substantiate it. There are always buyers ready to pick up bargains if there are any obtainable, but as to paying adequate prices that seems to be altogether out The advance in sterling of the question now, rates is being made the excuse for asking concessions on previous price, quite oblivious of the fact that they were probably 10 per cent. below replacing cost then. A bad feature is the better rates of exchange that
can be obtained for forward transactions than for ready. This always creates suspicion in the native mind, in which they conjure up visions of all sorts of prices to which it might soar. It is generally conceded that clearances are quite satisfactory, especially to the river markets, while Tientsin, in spite of the drought, is taking a fair quantity still. But as regards fresh business we understand there is utter stagnation, some of the leading houses saying that not a single order has been placed for the last four or five months and their heavy stocks are moving very slowly. Newchwang is likewise doing very little, though there are some signs of a revival which would doubtless develop more rapidly if there were less obstructions to the export trade. The river is the worst offender, large quantities of produce be detained on account of want of water about 800 miles above New- chwang. Some serious disturbances are breaking out in Manchuria too, fomented it is said for the purpose of discrediting Newchwang. The news of the abdication of the Emperor of Corea has caused a cessation of business with that country, all those here connected with the trade, being in a state of uncertainty as to what will happen, are sitting tight and waiting for the outcome of events. Our attention has been called to a letter in the Manchester Guardian of the 14th June on the subject of “claims and allowances on exported goods." The reply to it is so obvious that it is scarcely worth while mentioning, namely, why not avoid such claims by shipping only goods that come up to the quality and de-cription ordered, If makers cannot exactly match a cloth-let them say so, and not accept the order and ship something that is, no matter how little different, not what was wanted. It would save a lot of worry and trouble to importers here, and we certainly consider that if the steps the writers of the letter ia question suggest were adopted by all makers and finishers, as we imagine they are by most, to have all disputes settled in Manchester either whilst the goods are grey or when they are "finished," there would not be the same necessity to call upon the “ young counting-house men to adjudicate upon their export work—but even out of the months of babes and sucklings some- There is no times cometh words of wisdom! change in the position of Manchester, ostensibly, but at the same time a fe orders are going through for this market, through practically entirely to keep up regular chops. Liverpool has been decidely weak during the interval, but is firmer at the close, Mid American coming 7.18d. to-day, and "futures" yesterday 6.81d. when spot was 7.11d.; Egyptian is 1043d. "Advices from Now York by cable report the purchases for Tientsin direct of Pepperell Dragon Drills at 234. 78. and Prescott Dod 3.26 yard at 11s. 10d. They could have been bought here much cheaper. Furt er purchases of drills are also mentioned, presumably for this market, namely Clifton 8 at 128. 81d. and Clifton R at 118. 104d. Stooks.-The Chamber of Commerce Returns of the 30th June were published yesterday. As usual they will now. form the basis on which our estimated stocks- will be made up. They are remarkable for the few discrepancies they show with the figures based on the returns of the 81st December last, The decrease the figures of American Shirtings we had already anticipated. returns for 32-inch T-Cloths show that our figures at the end of 1936 were more correct than those of the Chamber, which were returned as over 100,000 pieces less than ours, based on the June figures," Turkey Beds, perhaps, are under the real mark, and holders of that stock might with advantage look up as to whether their 60
It is con yards pieces were returned as two. tended that dyed goods have been rather mixed up again, but with so many varieties that is difsouls to avoid. The total comes to just 109,000 pieces more than the combined stocks of these goods published in our last. We consider the returns the most satisfactory that have been mada, for Years.
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