401
COMMERCIAL.
OPIUM,
HONGKONG, December 20th.
Quotations are:-Allowance net to 1 catty.
Malwa New
.$870 to
per picul,
Malwa Old
$900 to
do.
Malwa Older
$930
to
do.
Malwa Very Old .$970
to
do.
Persian Fine Quality ..$750
to
do.
Persian Extra Fine ...$800
to
do.
Patna New
.8917!
to
Patna Old
$9171
to
do.
Benares New ............$890
to
to
do. do.
Benares Old
PIECE GOODS.
per chest.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 12th December, 1907, states:-It is possible to confirm the impression we endeavoured to impart in our last that in staple makes there was a turn for the better. Where holders have shown will- ingness to accept prices for goods that were ruling when a much more favourable exchange was obtainable business has been possible, though showing a loss of fully 15 per cent. at to-day's
rate,
It must naturally be supposed that sellers had cover in hand at a higher exchange, and in this way some of the second-hand holders have also been able to re-sell. This of course puts those who are not covered entirely out of it, and they must wait until this cheaper cargo is exhausted and the market has a chance of rising. There is no doubt about it the drop in exchange is at last showing some effect on prices, and although no adequate advance has taken place so far the possibilities are more appareut. The chief demand for goods comes from Szechueu and the River ports, as far as Manchester makes are concerned, as well as some of the lighter American goods, but Tientsin is also in the market for beavier makes. It is said a large number of prominent buyers have arrived here from that Port recently and are anxious to buy, but holders here are ready for them, and higher prices will have to he paid before much business will be done. The situation up there is in a mixed state, to say the least of it, and the system of doing business on credit, so long in vogue there, has, we understand, quite earned the strictures we have put upon it occasionally. The last direct steaners have left during the interval, but the Chinwantao route will be available as usual. Manchester remains in the same comparatively strong position, nor has the course of the Cotton market in Liverpool helped in any way to lower the ideas of Mauufac turers. After advancing to 6.42d. Mid-American declined yesterday to 6.34d. for spot and 5.93d. 'future.' To-day the spot price comes 6.20d., hut at the same time the New York price is quoted 10.92 cents, a recovery of 13 points since yesterday, so the next Liverpool price will probably be higher again. The quotation for Egyptian Cotton remains steady at 10id. Clearances have shown some improvement, possibly on account of the prospective closing of the Peiho There are signs that the weather will be exceptionally cold up north this winter. There is nothing new of any importance regarding Newchwang and Manchuria, Tientsin and Chefoo have taken some American goods from second hand. It is said, the former is offering sundry lines of goods for sale on this market, some transactions being reported to have actually taken place at extremely low prices. The water is falling satisfactorily in the Yangtze, but trade conditions have not returned to normal as yet. The Country seams to be quieter The Yarn market has continued strong, especially for Indian Spinnings, and with the greatly reduced stock and shorter prospective supplies the position is better than it has been for a long time back. The local industry should improve with the lower exchange, and already we hear the ball has been set rolling by the sale of 1,500 bales by one of the Mills and 500 by another at slightly better prices, the transaction being rendered fairly satis factory by the low price at which the raw Cotton had been bought. The lower exchange at the same time produces a strong demand for export, though of course the increased competition puts up the price on the local user, What shows the stronger position of the market more than anything is the way prices are being maintained at Auction in spite of the steadily increasing quantities that are being offered. The Turkey Red war is well on
THE HONGKONG WEEKLY PRESS AND
now, the weekly offerings at Auction without reserve having doubled since the beginning of September. The question is will the lower prices increase the consumption? It is noticeable too, that the public sale list of Fast Black Cotton Italians is now commencing to increase. The It question of exchange is as intricate as ever. has certainly been a huge medium for gambling during the last three months, and while some have scored heavily others must have lost, It is a most disconcerting factor to have in the trade, As through the speculative advantages it may give to one the reverse is the fate of another, thus always keeping the trade on an inequitable basis, the goods in the hands of one man varying great- ly with the cost of similar goods in the hands of Another. It is not the first time this market has had to face these violent fluctuations, but 161 per cent. in three months is a bit serious and should help towards a currency reform in this country. Cotton Yarn.-Indian-Although the quantity sold during the interval that has come to our knowledge is not large we understand a good demand on the lines mentioned in our last still continues. The buyers for Szechuen are notice. ably inclined to take the better class of No. 108, now that
were usually booked for Tientsin. Prices might be called strong, especially for No. 208, which are up a tael and a half. The total business reported ainounts to 2,125 hales only which is probably somewhat below the real figure.
|
December 28, 1807) ·
Messrs. Arnhold, Karberg & Co.'s Fortnightly Produce Circular, dated Shanghai, 13th December, 1907, has the following:-Gallnata.-Prices some-
what easier. A limited business has been done. Cowhides.- Very little demand from Europe, Prices are in consequence declining. Tobacco. --- A fair business has been done. Feathers.-Sup- plies smaller than usual and it is feared thất deliveries will be belated. Cotton.-The market keeps very firm in consequence of a steady enquiry from Japan. Tendency towards higher prices. Tallow. Prices firm. Only little business doing. Wood Oil.-Market unchanged. Prices easier for distant shipment. Sesamum Seed.-Prices are a tride firmer. A fairly satisfactory business has been done. Strawbraid.—A slight demand from Europe for Fine Loyeh White and Matau Tuscan. Otherwise nothing doing. Goatskin Rugs.—A good business has been done in Newchwang rugs. Wool-Sheeps'.- Business is much hampered by poor transport facilities from Chungking. Prices remain steady. The demand is improving. Antimony. There is very little demand from home
Per P. & O. 3.8. Malta, sailed on 14th December' 19 17. For Aberdeen:-1 case cigars. For Liver pool
:-1 case cigarettes. For Manchester :-425 hales waste silk. For London:-3 cases China. ink, 6 cases hats, 482 packages tea, 3 casessilk, 30 hales raw silk, 35 cases cigars and tobacco, 17 cases sundries, 63 bales pierced cocoons, 1 case
Milan:-50 bales silverware.
silk. For Lyons:-99 bales raw silk. For St. Chamond :---- 15 bales raw silk. Gibraltar :-3 cases silk goods, 3 cases cigars, 1 case curios, For Marseilles :- 10 cases cut tobacco, 75 bales waste silk, 129 bales raw silk, I case hats.
raw
For
Per P. & 0 steamer Syria, sailed on 18th Dec For Antwerp:-250 bales hemp, 44 bales canes For Manchester:-125 bales waste silk. Liverpool: -4,392 bales bemp. For London :- 1,350 ales hemp, 200 rolls mats, 1,541 boxes ten, 49 cases effects, 3 cases silk, 1 case books, 11 cases chinaware, I case machinery, 1 case blackwood-
ware.
For Glasgow:-) bales straw cuffs. For Rotterdam : ---24 cases chinaware. For Mar- svilles: ---5 cases buman hair. For London opt. Cont:-325 caska preserves, 230 packages mer- chandise, ō cases human hair, 30 c ses staranisced, à cases bristles, 317 packages merchandise.
Hankow, 11th Dec., 1907.-The prices quoted are for the net shipping weight excluding cost of packing for export :-
Cowhides, Best Selected.
Do. Seconds Buffalo hides, Best selected
untanned, chiefly white
From Messrs. Ibert & cal's Weekly Market Report, dated Shanghai, December 12th, 1907: The continued decline in exchange from 3;-1 at the beginning of October to 2/61 to-day is quita sufficient of itself to upset all ordinary calcula- tions, and to make it impossible for any one interested in foreign trade to feel confidence in the future. The disadvantages of having to carry on large transactions in a currency which has sa often proved to be thoroughly unstable may per haps some day be brought home to the authorities in China. Throughout a long period when silver was steady and when some action towards re- gulating the currency might have been more easily taken than can be done when rates are fluctuating violently from week to week, nothing was done, and apparently the country will now have to go through another long period of instability. When to this drawback is added shortsighted objections to the introduction of foreign capital, opposition to improved means of internal communication, obstruction of industrial materials used in expansion, taxation of raw manufactures, and slow development of mineral resources, it is not surprising that there should be discontent amongst a rapidly increasing popula-Goatskins, tion whose resources and expansion are crippled in so many directions. There is a slight upward movement in current rates for certain qualities of American goods, but the advance is not material; in English plain staples the market is stronger than it has been for many months, but prices offered are not sufficiently tempting to induce importers to sell goods which cannot be replaced within four to five mace of the prices obtainable here at present. Some holders of Fancy goods are disposing of them at prices which are almost a sacrifice, apparently regarding an advance as hopeless in view of the heavy stocks which have accumulated. On the other hand supplies coming forward from every quarter are very light. The latest U. S. Government Bureau estimate of the cotton crop is reduced to 11,700,001 hales, which probably will prevent any material decline in cutton for some time to come. Experience has shown that when actual scarcity imminent Chinese can pay up for goods, so if stocks run down to a low level in the spring, the reaction which has been expected for a long time may come about.
SILK.
becomes
colour,
Buffalo Horus, average 3 ths, sach White China Grass, Wachang and/or
Poochi... WhiteChinaGrass, Sinshan and/orChayu Green China Grass, Szechuen
Jute
White Vegetable Tallow, Kinchow White Vegetable Tallow, Pingchew
and/or Macheng
White Vegetable Tallow, Mongyu Green Vegetable Tallow, Kiyu.. Animal Tallow Gallnuts, usual shape Gallnuts, pluw do. Tobacco, Tingelow Tobacco, Wongkong Turmeric Sesamum Seed Sesamum Seed Oil Wood Oil Tea Oil
Borax
From Mr F. C. Heffer's report, dated Shanghai, December 11th, 1907:-Telegrams report quiet Apricot Markets at Home and quote Gold Kiling in London at 126. Raw Silk.-There has been no business done in White Silks during the past fortnight. Yellow Silks.-About 250 hales have been settled at undermentioned rates.
MISCELLANEOUS EXPORTS.
Per steamer Polynesien, sailed on 10th December, 1907.—For Marseilles:-175 bales raw silk, 150 bales waste silk, 53 packages tea, 9 bales human hair, 14 cases paper, 9 cases feathers, 4 cases human hair, 7 cases ilang ilang, 12 casos hats. For Milan:-5 bales raw silk. For St. Chamond: -6 bales raw silk. For Lyons:-118 bales raw silk. For London:-50 bales waste silk.
Per picul. 'TIs. 28.50
22.50
18
22.00
1)
48.00
6.00
**
"
"
"
8.80
*
"
881111
11
14.70
17.00
*
"
5,80
8,80
14
HONGKONG QUOTATIONS.
HONGKONG, 17th December, 1907.
Cassia Cloves Camphor
KARATE
$16 to $ 15 $191 $ 20
18
12
33
13
$100
106
H
Cow Bezoar
$125 140
M
Fennel Seed
$ 91
•
Galangal
$ %
$ 14
10
Kismis
# 16
Glue
$27
Olibanum
2
18
Oil Sandalwood
$295
8.69
J
Ro Cassia
50 180
"
$960
*
Raisins
帽
Grapes
Senna Lea YOG
Sandalwood
Saltpetre
11
#