318
COMMERCIAL.
OPIUM. HONGKONG, November 8th. Quotations are:-Allowance net to 1 catty.
per picul,
Malwa Now
.$890 to
Malwa Old
$940 to
Malwa Older
.$980
to
do. da.
Malwa Very Old
.$1030
to
do.
Persian Fine Quality ..$750
to
do.
Persian Extra Fine
.$795
to
do.
Patna New
$900
to
Patna Old
.8907) to
per chest.
do.
$870 to to
do.
do.
Benares New
Benares Old
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 31st October, 1907, has the following:--The depressed state of our market has not been improved during the interval by the news of the financial troubles in New York. The drain of gold from the London market that has been the consequence has naturally depreciated silver, and exchange here has suffered another fall. With the further widening of the margin between the ideas of sellers and buyers in this way business has become more impossible than ever, as holders continue to hope against hope and defer facing the inevitable losses that are staring them in the face.
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THE HONGKONG WEEKLY PRESS AND
are prevalent and in some parts the Rice crops are endangered, and yet the permission to export large quantities to Japan still holds good. The water in the Yangtsze is unusally high for the time of the year, making navigation very difficult and delaying shipments to Szechuen, The Northern markets are not showing much life.
From Messrs. Wheelock & Co.'s Report, dated Shanghai, October 31st, 1937.-The market is exceedingly quiet in all its branches, the lateness of the crops, which are not more than one-quarter harvested throughout most of the principal parts of the Yangtze valley, being responsible in large part for the backwardness of any usual autumn demand from many quarters. The water in the upper Yangtze is reported to be very high for this season and has hindered clearances for some of the interior points, while continuous rain has also deterred clearances for the nearer points, 80 the week's business has been of a very dull character. The Northern markets continue to be very lifeless, Tientsin doing nothing, while New chwang confines itself to a trifling business in Dyed and Fancy Goods and a small trade in American Sheetings, buying only as it can sell for cash, this latter market having had a suffi- ciently drastic lesson upon the effects of over- trading to warrant its present strictly conserv- ative business; it would, however, appear that it will have to subsist on very light stocks through- out the winter in consequence, which is a good augury for improved conditions in the spring. Home prices are easier owing to the lower price of cotton, which has presumably slumped owing to the weight of the new crop now beginning to be marketed, and the disability of the banks enabl-
crisis in America. Grey Shirtings. Stockholders have been endeavouring during the week to force an advance in prices to compensate for the loss in exchange but without much success so far. This has naturally hindered business a good deal and very few lots have changed hands. Prices at auction were rather on the easy side. T.- Cloths. We have not heard of any business in these. Auctions steady. Jeans.-A small busi- ness has been done in Nine "Sing." Auctions improved a few candareens. White Shirtings. The market continues exceedingly quiet and only two small sales have been made public. Drills and Sheetings. We have heard of no business in the former beyond a sale of Massachussetts Fly- ing Horse at Tls. 4.15. In Sheetings & sale of native made goods under Blue Two Staga at Tis. 3.35 is reported, and American Sheetings have heen resold to Newchwang on a very fair scale at an advance of about 21 to 5 candareens over last
In the meanwhile the country markets do not get a chance of responding to the situation here as many of the second hand holders, who had been astute enough to settle exchange on the higher basis, can supply the requirements for consumption eight to ten per cent. under what others can do it at. In this way what demanding it to be held by reason of the present financial there is is readily satisfied without raising prices to any adequate extent, the only consolation to first hand holders being the counteracting effect of the lower exchange on the easier terms at which goods are now obtainable in the producing centres. This must curtail supplies to a certain extent, and that is the one thing now necessary to put the trade on a proper basis again. The pessimistic ideasof the United States, as regards the future of their export trade in this part of the world are not justified. Trade out here has certainly not developed so rapidly as was expected it would do, and besides it has to withstand some very severe opposition, and that on lines which defied competition, during the last twelve months. Taking all the circumstances into consideration. therefore, the rate at which goods have gone into actual consumption during the past ten months cannot be considered altogeter unsatisfactory. There is one thing certain, and that is the native dealers here, perhaps encouraged by importers to prices. Cotton Flannels.-The market is nomin some extent, have during the last few years been ally at about the same leved as last week hut altogether too optimistic, and held stocks for little or no business seems to have been done. profits that were not warranted, if they wished to Dyed and Fancy Cottons.-A sale of 300 pieces keep the trade going, quite forgetting the Dyed Cords, Woman Chop, at Tis. 0.32 per yd. is principle that prompt sales and quick returns pay
all that we have heard of. The market for all bost in the long run, and would have, to a great
classes of goods under this head is very quiet extent, stifled the competition that has been
and the volume of resales to the River Ports encouraged by the high prices consumers in the
seems to have fallen off probably on account of country had to pay. With the increased cost of the high water. Fast Black Cotton Lastings living it was not possible to continue paying such
were on the whole inclined to be weaker at prices, and cheaper substitutes were readily
auctions though several chops realized hetter welcomed, To
Carry on a satisfactory and figures than last week. Worsteds and Woollens. successful trade out here in future Manchester-Nothing has been reported during the interval. and the United States must try to work more in harmony. The latter have succeeded in captur ing the markets for heavy goods, almost as much through the efforts of traders belonging to other nationalities as to her own, however; but the absurd idea of buying to cut Manchester out of this trade altogether, must appeal now to those, who at one time held such views, as a very unprofitable task. And yet all her commercial publications are full of articles urging manufacturers to all sorts of other branches, already kept more than fully supplied by Manchester and with very poor results to those who have the final handling of them. Since the date of our last report the course of the Liverpool cotton market has been watched with some consternation by importers here. No doubt the weakness in New York, engendered by the financial troubles there, accounts for the decline that has taken place in Mid American, the lowest point touched being on the 29th inst., when spot was quoted 5.81d. and "futures" 5.61d. To-day a slight recovery is advised to 5.87d. owing to the better feeling in New York, where quotations had dropped to 10 cents for December and 10.25 cents for March. The Manchester and New York markets are both lower for cotton goods, which of course the drop in exchange counteracts to some extent and no one here has the courage to buy. Egyptian Cotton is down an eithth to 10-16d. Trade with the Yangtaze Ports is not very brisk, floods on account of the heavy rains
At auctions Lastings were firmer, but other Woollens were, if anything, easier. Cotton.- Demand for the local staple has been of an insignificant character during the week and prices have been steadily off.
MISCELLANEOUS EXPORTS.
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Messrs. Arnhold, Karberg & Co's Fortnightly Produce Circular dated Shanghai, 17th October, 1907, states:--Gallnuts.-The market is quiet, some few parcels have been sold at good prices. Cowhides. - Chinese are coming forward with offers for the coming season without attracting buyers. Tobacco.-A good business should be done next month as the quality is giving satisfaction and prices are below those of last season, Feathers. A small business has been done. Prices have not advanced in spite of the low rate of exchange and in 'consequence buyers contracted at much reduced sterling figures, Cotton.-There was a very strong demand from home buyers and Japan. Prices have advanced slightly. Tallow. A active business has been done. Strawbraid-Demand from America has been fairly brisk on 7-ends Split and Shansi Mottled, but has slackened up during last two or three days. Splits continue to arrive, but Shansi Mottled stocks are exhausted. No demand at all from Europe. Wool-Sheeps.-Little coming forward. The tendency is rather bearish. Wood oil-Market strong, prices firm. Antimony.-Market unchanged.
cargo
November 11, 1907)
Per P. & O. steamer Borneo, sailed on 7th November, 1907. For Antwerp:-300 bales hemp, 25 bales partridge canes, 14 bales straw braid. For London opt. Cont100 cases ginger, 175 pkges. ginger. For Gibraltar:-14 cases cigars, 1 case silk piece goods. For Marseilles :-6 cases bats, 150 cases camphor, 100 bales waste silk. For Rotterdam :- 350 bales hemp. For Manches- ter-50 bales waste silk, For London :-3 cases cigars, 30 cases preserves, 1,000 bales hemp, 8 pkges. rattan chairs, 17 cases laichees, 66 bales merchandise, 21 cases woodware, 1624 pkges. tea, 4 cases empty flasks, 19 cases chinaware, and 50 bales waste silk.
AMOY CUSTOMS RETURNS.
The Amoy Garette and Shipping Report, dated 7th Nov. 1907, has the following list of the principal goods passed through the Amoy Cus- tom House.
IMPORTS. GOODS.
Cotton Raw, Indian. Native Yaru
*
2
QUANTITY.
pls.
*
774
11
2,268
pcs. 2,230
[
Shirtings, Grey
T-Cloths
1,890
Shirtings, White
TE
2,211
T. Red Shirtings
538
Drills.
30
..
Shirtings Dyed, Brocades. Dyed
410
294
**
"
231
"
30
Damasks Camlets Lasting.. Spanish Stripes Lustres, Figured. Lead in Pigs Tin in Slabs.. Iron, Nail Rod. Quicksilver Iron, Old Ironwire Rice Opium, Patna
If
Benares
yds. 2,307
1
pls. 38
270
N
53
,,
++
15
36
17
18,434
1
49
11
Persian
9
P
Malwa
2
*
Szechuen
73
28.
163
32
Yunnan Kiangsu
Sesamum Seed Sapanwood Sandalwood Rattans..
Wheat
Flour
Beancake
Beans and Peas Bicho de Mer Mats, Tea...
Oil, Kerosene American
Borneo in bulk
3,696
5,049
"
2,093
31
19,327
++
386
pcs. .gals.
13
11
36,080
Russian
1
J
Sumatra
+7
Bulk.
F
11
*
15,835
Coal Tobacco Leaf Vermicelli
tons. 1,221
pls. 1,179
241
EXPORTS.
Sugar, White
pls.
200
Brown
**
484
**
11
Candy
11
1,695
17,500
280
104
"
34
"J
pcs.
Hemp Bags
Sacking
Paper I Quality
++
II
++
Tobacco, Prepared Kittysols (umbrellas)
pca.
**
pls.
SHARE REPORTS. Messrs. J. P. Bisset & Co.'s Share Report for the week ending 31st October, 1007, states :— The week under review included the October Settlement Day yesterday, but this was only of the most meagre description, and is scarcely worth notice. Business has been fairly quiet and we have to chronicle an advance in Shanghai and Hongkew Wharf Shares, as also in Maats- chappij, etc., in Langkats. Banka.- Hongkong and Shanghai Banks. A transaction in New Banks is reported at $660. We quote $665 and $660 for Old and New respectively at closing. The T. T. on London to-day is 2/84. Insurance. -North-China Insurance Co. Since the digidend the price has advanced substantially, and we quote the rate at closing as Tla. 75 ex div. Yangtsze Insurance. We quote at $165 without business. Shipping. Indo - Chinas remain nominally at Tla. 30 for the Preference and Tis. 20 for the Deferred. Shanghai Tug & Lighter