.986
COMMERCIAL.
The
Yokohama Prices Current and Market Report, published by the Yokohama Foreign Board of Trade and dated Yokohama, November 30th, 1907, states :-
IMPORTS.
Yarns.--Market remains unchanged. Shirtings. -No business reported, either in "spot" or "forward." Fancy Cottons and Woollens.-Only very moderate demand, prices of all materials being firm with upward tendency. Apparently there is little prospect of lower rates ceither in Cotton or Wool for some time to come, Metals. Owing to indications that bottom prices have been reached, dealers are watching the situation very closely, and any stiffening of home rates will probably result in considerable activity. Kerosene.-Market active. Sugar.—Market dull, with little or no business passing. Indigo (Natural).-No business. Window Glass. —No business.
EXPORTS.
Tea.-Total settlements from May 1st to November 30th amount to 101,597 piculs, against 103,704 piculs at the corresponding dato last year.
GENERAL
EXPORTS,
Fish Oil.-Reports from home markets are much weaker, but sellers hold firm at about Y.7.50 per 100 kin. Copper.-200 tons Bessemer bare been sold at Y.36 per 100 kin.
SILK REPORT.
Since our last roport, dated the 12th inst., very few transactions have been put through; but in spite of this fact, prices have remained fairly steady and only a small drop on previous figures has been experienced. However, as the new year is approaching and holders and producers con- sequently will have to realize some of their Raws in order to obtain ready cash with which to meet their engagements at that time, our market generally is weak and depressed. At ruling prices a loss of about Y. 100 per bale on actual cost of production is incurred. The controversy between the members of this Association and the three rereel factories, "Usuisha," "Kanransha," and "
'Shimonita," has been settled, the latter returning to established trade channels.
WASTE BILK,
In reference to Messrs. Carlowitz & Cul's Circular, No. 40, dated Yokohama, November 16th, 1907, in which it is said that "In spite of the agreement made by buyers to absolutely refuse frandulent goods, it is reported that a local firm has bought a certain quantity of Waste produced by the 'Kaneichimaru Com- pany," we must emphatically state that none of the members of this Association, who all signed their name to the agreement refusing to buy Waste containing fraudulent matter, have broken this agreement, wherefore Messrs. Carlowitz & Co.'s statement must be considered as being without foundation whatever. Market is dull, very small business, prices weak and nominal. Settlements from Nov. 12th to Nov. 25th, 600 piculs. Total Settlements from July 1st to Nov. 25th, 1,100 picula. Stock on Nov. 26th is estimated at 32,000 piculs, viz:-Noshi, 14,000 piculs; Kibizzo, 16,000 piculs; Pierced Cocoons and Sundries, 2,000 picuts
YARN,
Mr. P. Eduljee, in his Report, dated Hongkong 13th December, 1907, states: - A much better enquiry existed towards the close of the past fortnight, the chief feature being the improved demand for the Tonkin and Shanghai markets for suitable chops of No. 208 which have again taken first place in point of quantity, No. 10s running them very close. Prices have farther advanced $1 to $2 per bale, but are still far below replacing cost, and do not allow much for the heavy depre- ciation in exchange. At the close dealers, having satisfied their requirements, have retired from the market and are not buying, whilst importers show little or no inclination to sell in face of an inces- sant declining exchange, and a temporary lull is for the moment being experienced. Stocks show no change from last estimate, the recent arrivals being about the same as the off-takes. Bombay is reported strong, some 25,000 bales have been purchased by China merchants for the Shanghai market. Sales of the interval aggregate 4,163 bales, arrivals amount to 5,151 bales, unsold stock estimated at 46,000, and sold but uncleared at 17,000 bales. Local Manufacture-Nothing do- ing. Japanese Yarn-Importations have ceased owing to much higher prices ruling in Japan. Raw Cotton:-The first shipment of New Crop Bengals has arrived, but sales have been checked by the high prices demanded by importers. The cotton is of better quality than last year, being free from seeds and yellow leaf and whiter in colour. The only business reported is the sale of
THE HONGKONG WEEKLY PRESS AND
PIECE GOODS.
December 14, 1907]
a choice parcel of 150 bales at $221—Stock 300 | There is a very fair enquiry for spot cargo, bales. In China kinds 130 bales (small) have and business has been from first hands, but changed hands at $2548tock 350 bules. Quoti- at only a very inadequate advance on the price tions are Hengals new $21 to $231, old $10 to $22, ruling when exchange was over three shillings. and Chinese $22 to $20. Exchange on India has It has been difficult to glean particulars, but the continued to decline in sympathy with silver and transactions are chifly for Hankow and Yokohama. shows a loss of 81 points on last mail, closing At the Anctions prices very were firm. Light weak to-day at Rs. 145 for T/T and Rs. 146 for Weight.-The usual small auction lots have sold Post. On Shanghai 711 and on Japan 94). The
at steady to firm prices again. Heavy Weights. undernoted business in imported and local spin- |-There has been a fair demand from second hand- nings is reported from Shanghai during the fort holders for Ningpo, and a large variety of weights night ended the 7th instant viz:-Indian :- and chops have changed hands. The individual Market very active, holders firm, values have transactions have been on quite a retail scale not appreciated 1 to 3 Taels, but high prices check amounting in the aggregate to probably more consumption. Total sales about 10,000 bales | than 12,000 pieces all told. Firmness has marked with an estimated nnsold stock of 64,000 bales. the prices at auction. Sheetings.-There has Japanese-Total sales alunt 1,200 hales on the been a fair enquiry among second hand holders hasis of Tis. 851 to 92 for No. 16s, and Tls. 93 to for shipment to the northern n.arkets, the 101 for No. 205, prices showing an advance of one transactions reported amounting to fully four to Tael. Local-Is enquired for în retail lots on the five hundred bales. Cotton Flannels.-There is a basis of Tls. 69 to 70 for No. 10s, and Tls. 74 to 75 | moderate local demand for American makes and for No. 12x.
sales are reported of Two Pagoda. Tls. 3.93, Indian Head Tls.4.15 and Railway Tis. 6.10. The market is quite firm in view of the attenuated stocks. Turkey Reds. The fight for the market ia
on in real earnest now, the quantity sold without reserve from first hands since our last report amounting to over 100,000 pieces. This of course falls very heavily on those who have stocks on hand and are not party to the controversy. Some chops seem to keep up marvellously well under the circum- stances, the new ones being those that suffer most. Fancy Goods,-Fresh business remains out of the question and the wain consideration now is te unload the stocks on hand. This is by no means complicated by the daily an easy matter, and is becoming more and more sudden disappea- rance of one of more irresponsible indentors. Woollens.-Camlets do not show much change from last week, but on the whole are no better than they were when exchange was twelve per cent. higher. Long Ells and Lastings are actually lower and Spanish stripes very little better. Cotton Yarn.-Indian-If the course of this market returning at last, and, though we do not wish to can be taken as a forecast confidence is certainly
be too optimistic, it looks as though the tide had turned. The good demand that has appeared for these spinnings during the interval has been readily met at the increased prices buyers have shown willingness to pay, and although the sales do not show the same regularity in the advance the market for No. 10s and 20s may be considered up a fael and a half. For No. 12s about half a t tael better prices have been paid. The demand for the lower count has come chiefly from Sze- chuen and Tsingtau, No. 20s being wanted for Szechuen and the River Ports.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 5th December, 1907, states:-If there is no com- pensative upward moveinont in prices there has certainly been more doing than for some consider- able time past, and thus far we are able to report an inprovement. Finding that the native holders of stocks are being forced to unload at prices irrespective of replacing cost. some importers deem it prudent not to miss the passing demand, nominal advance on provious rates, provided the and are letting buyers have retail lots at a clearances of their former purchases have been satisfactory. This refers almost exclusively to staple Grey and White Manchester goods, what transactions that have taken place in American makes being entirely resales by second hand holders. Forward business is quite out of the question still, although Manchester continues to business doing at anything from 20 to 30 per allure importers into buying by reporting a big cent, over prices obtainable here! The Manches- ter market is decidedly strong and seems to be following up the price of American Cotton, the Liverpool quotation for spot Middling coming yesterday at 6.23d. with 5.93d, for futures, while this morning the former comes 6.33d., with a strong market. Egyptian Cotton is 104d. for spot. The advance in American Cotton is due to the Government estimate of the crop being only 11,625,000 bales, but at the same time we have not heard of more than eleven cents gold being quoted in New York for March option. While scarcely anything is coming to this market from the United States the export last month from England amouated 19,000,000 yards of Plain Cottons. The demand for Yarns has revived again, the principal enquiry coming from Sze- chuen, for which market a number of the more popular spinnings usually taken by Tientsin, in No. 108 more particularly, have been bought, giving the idea that the lying was mostly for that Port. On the contrary it is taking very little, but it is said is supplying a good deal of the Manchurian demand for fancy goods from her stock of direct importations. With regard to the Manchurian trade we have been able to glean a few particulars from Sir Alexander Hosie, H. B. here from that province. The point on which he M.'s Commercial Attaché, who has just returned lays most stress is, that the people up there have plenty of money, but the prices of the ordinary commodities of life still remain at the war level to which they rose, and that until they come down to normal again no more money than is actually necessary for subsistence will be let out. The inhabitants in the northern part of the province fared the best, as the Russian troops had to buy from country people the greater part of their fodder and provisions, whereas the Japanese took everything with them. On the other hand the crops in the north have been partial failures owing to drought, but in the south have been very prolific. Traders in Newchwang, before these recent crashes took place, were quite confident in the future prosperity of the port, although there was bound to be competition with Dalny, which however they did not fear. It is interesting to note in this connection that the total of Dues and Duties at the Port of Dairen (Dalny) for the quarter ending 30th September only amounted to Hk. Tls. 34,666, sach successive month showing a falling off, while the Newchwang collection amounted to Hk. Tis. 160,018, A journey through that given time the trade will flourish again. By to Harbin and back seens to have convinced him
far the greater part of the money left in the country dress entirely in native furs and are not investing through the war is held by the northern men who in foreign cloths. Grey Shirtings, —-84-lls.
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From Messrs. Ilbert & Co.'s Weekly Market Report, dated Shanghai, December 5th, 1907 :--- There is still a total absence of life in our market, although all the outside factors should have a strengthening influence. American Cotton has gradually crept up from 5.75d. in the middle of Nevember to 6.33d. to-day, or about 9 per cent. Exchange has within the same period fallen further to the extent of five-eighths or about 2 per cent., but so apathetic are dealers that practically no response in currency values is obtainable here. If importers refrain from buying, searcity of supplies ought eventually to bring about a reaction, but the process is likely to be a slow and lingering one, as the long con- tinued depression has taken much of the spirit out of Chinese who are able to bear their losses. Signs of improvement are discernible here and there, but as soon as actual orders are filled the market quickly relapses into its former condition. Telegrains from Manchester advise that favourite makes have been sold largely, which shows that some importers have confidence in a revival, but it is improbable that business is general, November shipments are upon a moderate scale. It is satisfactory to see that dyed goods are filling off, as supplies this year have been con- siderably in excess of the off-take, and it will take some time to absorb the incressed stocks of both these goods and printed cottons, the latter trade having also been overdone. The Turkey Bed war is bringing about unprecedently low rates for these goods, and other departments of the trade may be brought into the conflict ; as far as outsiders can judge the net returns from auction business generally this year can hardly have been profitable, while the losses are likely to be materially increased by the comparatively new departure of including portions of the dancy goods trade for disposal under the hammer. of season the general effect is to disorganize When goods are sold at auction in season or out normal business; owing to the magnitude of the of present operations in dyed goods may be interests involved it is to be hoped that the basis
reconsidered,
(