August 10, 1907.]
Settlements
COMMERCIAL.
...
TEA.
1907. -Chests. 22,379
1906. -Chests. 15,034
CHINA OVERLAND TRADE REFORT.
continues strong, The market closes quiet. Sales of the interval aggregate 4,092 bales, unsold stock estimated at 37,000, and sold but uncleared stock in second hands at 33,000 bales, Local Manufacture :-No business reported, Japanese Yarn:-Nothing doing, but prices are HANKOW, 31st July, 1907-Business reported maintained. Raw Cotton-Indian descriptions since the 24th inst., is as under:-
continue very dull, and China sorts are without any enquiry. The only sale reported during the interval is that of a small parcel of superfine Bengals at $191. Unsold stock: Indian 2,100 bales, and China 470 bales. Quotations are $16 to $20 Indian, and $20 to $24 China. Exchange on India has continued to advance and shows an increase of over 2 points during the interval, closing firm to-day at Rs. 1671 for T/T and Rs. 168 for Post. On Shanghai 73 and on Japan 109. The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 3rd instant, viz: — Indian:-Market quiet, prices having given way 2 to 3 Taels all round. Total sales about 8,000 bales with an estimated stock of 135,000 bales. Japanese:-In better request, sales about 1,50) bales on the basis of Tls. 85 to 90 for No. 168, and Tls. 90 to 97 for No. 20s. Local:-Sales of 500 bales No. 18s at Tls. 82 to 83 are reported.
The following are Statistics at date compared with the corresponding circular of last season, viz., 2nd July, 1906.
HANKOW TEA.
Stock
Settlements
DI
1907. I-Chests. .....352,844 21,122
Arrivals
...473,966
KIUKIANG TEA.
1907. -Chests.
Bettlements
..181,020
...
15,405
Arrivals...
196,425
Stock
OPIUM.
1906. -Chests, 354,155 62,489
406,644
1908. -Chests. 158,018 10,072
168.090
HONGKONG, August 8th. Allowance net to 1 catty.
.$840 to
per picul.
do.
Quotations are :—~;
Malwa New
Malwa Old
$880 to
Malwa Older
.$900
to
do.
Malwa Very Old
$940
to
do.
Persian Fine Quality ..$850
to
Persian Extra Fine
$700 to
Patna New
$805 to
Patna Old
to
do.
£805
to
to
do. do.
Benares New
Benares Old
COAL.
do. do. per chest
Messrs. Hughes and Hough, in their Coal Report of 8th August, state that 23 steamers are expected at Hongkong with a total of 83,300 tons of coal. Since July 26th, 17 steamers have arrived with a total of 49,400 tons of coal. Contracts for Medium qualities of Moji Coal, say about 60,000 tons for delivery during the rext six months at $6.50 to 6.75 are reported. Other kinda have been neglected. Quotations:-
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 1st August, 1907, states:-The imports during the next few months, so far as the plain stable Grey and White makes are concerned, are likely to be greatly curtailed, and in fact should prove considerably less than the off-take. During that period also next to nothing, comparatively, will be imported in the way of American Domestics. So far, therefore, the situation of the trade is likely to be much improved by the end of the season. But with English Printed and Dyed goods it is quite different, the present supply of both being 30 per cent, more than at the beginning of the year; and owing to the extensive orders sent last year, for which late delivery had to be accepted, it is feared that supplies coming forward will continue to be excessive. There is no doubt that this branch of the trade is rapidly increasing, and also that owing to the rapid changes in fashion stock is practically unsaleable, while newer makes that take place a large proportion of the present are being readily cleared. The remarks made last week have led to careful investigation of the considered advisible to add fully 70,200 pieces to stock of Turkey Reds, the result being that it is the figures returned as representing the quantity held by the dealers over and above the 39,000 paid for. With, this single alteration we consider pieces still in the hands of importers, although the figures a very safe basis to go on. In the absence of any other visible cause the advance in exchange must by held responsible for the quietness in our market this week. Demand seems to have sud. denly ceased again for goods in stock, and probably the excessive heat in many parts of the country may account for this. Clearances have been fairly well maintained, especially for the river markets. The weather has been a little more seasonable, but is still unsettled, and good prospects for the crops are not at all assured, in this neighbourhood at all events, though from further afield the reports are rather better. Prices in the home markets $17.00 to $20.00 per pcl. indent business is almost at a standstill. The appear to be higher then ever, and consequently Bengal (New), Rangoon
and Dacca
20.00 to 21.50 Shanghai and Japanese 25.00 to 28.00 Tungchow and Ningpo... 25.00 to 20 00
Reported sales, 176 bales.
Cardiff.... $14.00 to 15.00 ex-ship, nominal. Australian $11.50 to $12.00 ex-ship, nominal, Yubari Lump...$12.00 nominal Miiki Lump
$10.00 nominal.
Moji Lump $6.00 to $8.00 ex-ship, steady. Moji Unscreened38.00 to $7,50 ex-ship, steady, Akaike Lump...$7.75 to $8.00 steady. Labuan Lump $8.00 nominal.
RAW COTTON.
HONGKONG, 9th August-Small sales through. Stock about 1,700 bales.
Bombay.....
YARN.
رو
put
Mr. P. Eduljee, in his Report, dated Hong kong, 11th August, states:-Owing to the steady rise in exchange demand has fallen off consider- ably during the past fortnight, and settlements, as reported below, are comparatively small, Importers have been pressing sales at a reduction of $1 to $3 per bale on all desireable spinnings, but dealers are acting very cautiously, and are buying only for immediate wants, meanwhile their heavy purchases of the previous few weeks are more than sufficient to meet all possible requirements from the country. Business from first handa, consequently, is not large and confined principally to favourite tickets of No. 108, which comprise nearly three-fourths of the total sales. There is no change in our estimate of stocks, the recent arrivals being about the same as the off-take during the interval. Bombay
99
Messrs. Ilbert & Co.'s Piece Goods Report, dated Shanghai, July 25th, 1907, has the following The market remains steady, and clearances from stock are continuing to progress most satis- factorily, the greater part being taken for the but as regards the nearer markets, the bad Yangtsze up-river markets, and also Shantung, weather conditions have up to the present retard- ed the summer crops and held buying very much in check. The price of rice, which is such an important factor in the buying power of the country, has risen since the beginning of the year from $7 to $9.60; and in the Ningpo district, also all the rice-growing districts round the month of the Yangtaze, the condition of the crop is stated to be only about a seventy per cent. one, and that it will need the best of weather from now on to prevent a much greater deterioration. cotton crop also is very late and weedy, and will require exceptional conditions to bring it along. The next few weeks will, therefore, be somewhat critical in foreshadowing the trend of our market as the Autumn advances.
Liverpool Cotton market has undergone several Auctuations during the interval, but probably in anticipation of the Bureau Report of the July condition; the quotation at the close for Mid American has advanced to 7.23d. There is no change in Egyptian which reuiains steady at 10d. Advices from New York give the following quotations for Drills: Pacolet 138. 5td., Pepperell 138. 5 d., good 3-yard 128. 3d., and Buck's Head from that market as yet. The latest cotton quota- sheetings 138. 54d., so there is nothing to fear
tions are 11.92 cents gold for December and 11.98 cents for March option. Further return ship- ments are published per Verona as 5,620 pieces sheetings and 11.760 pieces Jeans. The market for the Indian spinnings, for which buyers are has been exceedingly quiet for yarns, especially 80 endeavouring to get concessions in prices owing to the better exchange. This is resented by first hand holders and consequently supplies are still being drawn chiefly from the middlemen, whom, it is said, are nearly sold out. There is not much change in the Japanese variety in spite of the better exchange and slightly lower prices in Osaka, Cotton is firmer. The local crop is very late and appears to have suffered considerably by the very unseasonable weather throughout July.
The
From Messrs. Ilbert & Co.'s Report of 1st Aug., 1907.--Business has been inactive during the week owing to the sharp rise which has taken place in exchange, any marked fluctuation tending as usual to keep back purchases upon the part of natives from first hands, until the dealers feel more sure of their ground. Mean- time clearances have been kept up briskly in nearly all classes of English staples, and also in Dyed and Fancy goods, the Yangtze outlets absorbing the majority. A sufficiency of rain in Chihli province has had the effect of bringing out a few purchasers for American Sheetings, prices for which are better by two and half to five candareens than last sales. This small advance, in spite of the small movement from stock that has taken place during the past few weeks, shows that holders are in a position to dictate to the market. For Drills there has been an active inquiry, and stocks are steadily decreasing, but there is still a sufficient quantity to keep values below the replacing level for some months to come. Indian Yarn is easier, prices being down Tls. 0,50 to Tls, I upon the week, the higher ex- change having affected values.
AMOY CUSTOMS RETURNS.
The Amoy Gazette and Shipping Report, dated principal goods passed through the Amoy Cus- 20th July, 1907, has the following list of the
tom House.
IMPORTS. Goods.
Cotton Raw, Indian.
Native Yarn
Ja
#1
11
Shirtings, Grey
T-Cloths
Shirtings, White
T. Red Shirtings Drills.
Shirtings Dyed, Brocades.
Dyed
Damasks
Camlets Lasting.. Spanish Stripes Lustres, Figured.. Lead in Pigs
Tin in Slabs.
Iron, Nail Bod..
Quicksilver Iron, Old
QUANTITY pls. 75
25
615
""
pes,
400
355
460
33
ナナ
190
13
yds.
12188182
265
"
pla.
14
110
67
"
1
134
17
2
"
5,567
19
Benares
**
36
*
Persian Malwa
11
2
16
Ironwire Rice
Opium, Patna
*
19
Szechuen Yunnan
Sandalwood
*
Kiangsu.
19
Sesamum Seed
3
Sapanwood
137
"
36
"
3,683
rt
6,442
19,920
Rattans.
Wheat
Flour..
Reancake
Beans and Peas Bicho de Mer Mats, Tea..
Oil, Kerosene American
Borneo in bulk Russian
נן
11
22
1,97% 17
"
рев.
gals.
3,520
**
25
Sumatra
#1
*
"
Bulk.
"
48,315
tons, 150
**
Coal
Tobacco Leaf Vermicelli
pls. 818
"
122