936
less specialities. The market for such goods is completely demoralised and indentors, natives of course, are quite unable to clear their purchases. Fortunately shipments of such goods are falling off at last and no one is likely to have the temerity to place fresh orders in face of a stock that is 30 per cent greater than it was this time last year. Still there is always the danger of parties not already interested chipping in at the lower prices ruling at home, but fortunately the fall in Exchange goes a good way towards connteracting the cheaper first cost.
A revival in trade at Newchwang appears to have set in at last, and to this must be attributed most of the improvement that has recently taken place in the market here, and although the actual business done for that Port during the interval has not been of any great volume, some specul- ative buying has taken place in anticipation of fresh orders. In fact most of the native holders say they could place the whole of their stocks at current rates, but want a considerable advance. Private advices from Manchuria are of a decidedly encouraging nature. Although the rainfall this Spring has not been as much as usual the heavy snow during the winter thoroughly moistened the ground and bumper crops are n-sured, against the about 40 per cent, crops of last year. The Native traders, who were getting into a very lethargic state in face of the increasing influence of the Japanese at the trade centres, are begin- ning to wake up and are pushing the commodities of other countries, which they find are preferred, so it is hoped that business will soon return to its normal lines again. Tientsin remains in a very quiet state, but some excitement has been caused there. during the interval by the sensational suicide of a prominent native merchant and his whole family an account of financial difficulties. The off-take for that Port continues to be very moderate. Clearances for the River Ports are keeping fairly good, and recent returns show not at all unsatisfactory ro-exports to Chefoo and Kiaochow.
Manchester is stronger in sympathy with cotton, the position of which it is difficult to understand. A further advance in the spot price of Mid- 5.83d. while American has taken place to "futures," which had dropped to 4.78d. have re- covered to 5.33d. November and December is quoted 4.88d. Spot cotton of good quality is scare in Liverpool, which accounts for the present comparatively high price there.
The acreage planted for the new crop shows an increase and the weather so far has been entirely favourable. Egyptian cotton has advanced to 7d. The last fortnightly advice of the export of plain cottons from England to China was 15,000,000 yards.
The New York market is reported to be strong with no sellers at any price. Peppperell Drills The state of being quoted nominally 128. 2d. trade may by judged from a telegram received earlier in the interval which said the Southern Mills were prepared to shut down if prices did not improve, which certainly looks as though the demand for home consumption had not revived. Cotton advanced in New York yesterday to 9.42 cents July option, and 9.90 cents for October; to- day, however, 9.12 cents comes for that month's option.
The Yarn market keeps firm for all Spinnings, the clearances of which are quite satisfactory. Native Cotton is very strong at an advance.
Business from first hands during the interval has been very small the majority of the few holders with available cargo wanting higher prices than are now offered, which are much below replacing cost. They appear willing to wait until adequate rates are forthcoming.
THE HONGKONG WEEKLY PRESS AND
KOBE, 14th May. - Forward quotations for American which have been declining steadily for a considerable time have latterly shown signs of improving, and prices have been during the last week on a decided upward tendency. Latest quotation of "forward" Middling is reported at Ÿ. 33.00 for new crop October shipment. "Spot" is nominal at Y, 30 00. Indian. The improve- ment of American quotations has likewise affected Indian rates and prices are somewhat firmer. There is no important business, however, to report, "Spot" is quiet. Closing quotations
are:
Broach Y.26.50, Akola Khamgnam Y.21,00, Bengal Y.19.75. Chinese. Home rates are reported higher and steady, but no trnsactions have taken place. Nominal rates are: Best Y.25.00, Common Y.22.50.
No business is doing in Shirtings, Cotton Goods and Fancies,
Worsteds and Woollens.-The Spring season is finished and the general estimate is that hardly half of the Import has been taken up by buyers. Clearances of Spring goods have been very unsatisfacto ry and large stocks have been carried over.
HONGKONG QUOTATIONS.
HONGKONG, 11th May, 1908.
The following are the latest quotations in the Hongkong markets:-
Apricot Borax Cassia... Cloves Camphor. Cow Bezoar
Fennel Seed Galangal Grapes Kismis Glue
Olibanum
Oil Sandalwood
11
Rosa..
Cassia
Raisins Senna Leaves Sandalwood Saltpetro
EXPORTS: --
TEA.
12 15 to 16 18 to 19
32
92
115
7
10
14
8 to 9
27 to 30
2 to 10
$ 245 to 350
50 to 150
$ 240
S 10
1$
6 to 9
$ 32 18
HANKOW, May, 13th.-The first musters of the New Crop were placed on the Market ou the 12th instant, when several chops of Ningchow and Khemuns were shewn. The stock of Kiukiang tea is 21,170 half chests.
KOBE, May 14th, -The season has not yet properly opened. A few teas have arrived, and appear to be alightly better in quality and style than last year. It is, however, too early to form any accurate opinion as to how prices will tend.
CAMPHOR.
HONGKONG, 25th May, 1908: From Formosa $91 to $94 a picul. The price shows a rising tendency.
COPPER.
KOBE, May 14th. About 400 tons have been bought for export, but market closes dull owing to the decline of quotations in Europe.
<
MATTING.
KOBE, May 14th.- Prices on all grades of stock" Mattings have fallen considerably with a still weaker tendency; on the other hand quota- tions for special order goods are well maintained.
STRAW BRAID.
KOBE, May 14th.-The market was decidedly firmer during the past fortnight, and prices gen- Chip Braid.- erally advanced a point or two.
A little more enquiry was noticeable during the period under review, and prices were slightly
firmer in consequence.
HEMP.
MANILA, May, 21st.-Consignees have been gratified by an announcement made by the President of the Banco Espanol-Filipino that the Bank is prepared to assist them to the extent to "a few hundred thousand pesos." It was feared, in the present state of the market that con.
[May 25, 1908
signees who are expecting consignments would on them, and a be unable to raise money representative of the hemp firms was deputed to wait upon the president of the Bank and explain the situation.
A correspondent in one of the daily papers states:-"The hemp crop for this year is estimated at about two million piculs which at nine pesos per pioul, which is the quotation of the London market on the last hemp receipts there, would give but 18 million poses for this year's production instead of the 82 miilions for 1907, 32 millions for 1906, 87 millions for 1905 and 36 millions for 1904. Thus, compared with the last two years, the prices that will be paid by the hemp cornerers will mean a loss of fourteen million pesos. The valuable assistance offered by the Banco Español-Filipino should animate the Government to come to the assistance of the hemp growers, making use of the Vera scheme to accomplish that end." The Vera scheme spoken of is the one prepared by Vicente de Vera in which it is provided that all the insular funds lying idle in the treasury shall be deposited in the Banco Español-Filipino and be held available for making loans on agricultural land. This Bill is now under consideration in committee.
MISCELLANEOUS EXPORTS,
HANKOW, 13th May, 1908.-The prices quoted are for the net shipping weight excluding cost of packing for export:-
Cowhides, Best selected
Do. Seconds
Buffalo hides, Best selected
Goatskins,
colour,
untanned, chiefly white
Per picul
.Tls. 29.00
25.00
22,50
11
Buffalo Horns, average 3 tbs, each White China Grass, Wuchang and/or
Poochi.. WhiteChinaGrass, Sinshan and/or Chayu 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, plum do.
Tobacco, Tingchow
Tobacco, Wongkong..
Feathers, grey and/or white Wild Duck
Turmeric
Sesamum Seed
Sesamum Seed Oil
Wood Oil... Tea Oil
»
8.70
17
8.00
11
11
7.70
J
10.40
J
10.10
"
"
10.40
10.30
**
15.20 17.20
**
**
-
"
"
5.50
"
+1
8.50
"}
Per P. & 0. steamer Oceana, sailed on 16th May, 1908-For Glasgow:-1 case cigars. For Manchester:-250 bales waste silk. For Gibral. tar:-2 cases silks, 2 cases curios. For Milan:- 15 bales raw silk. For Lyons:-373 bales raw silk. For Marseilles ;-70 bales raw silk. 10 bales feathers, 1 case embroidery. For London :- 1,845 boxes tea, 106 hales waste silk, 125 bales raw silk, 6 cases silk piece goods, 7 packages private effects, 16 cases chinaware, 4 cases birds' feathers
Per P. & O. steamer Japan, sailed on 20th May, 1908: For Christiania-1 case cigars. For Rotterdam:-100 boxes tea. For Autwerp: -901 sacks copra. For Hamburg-10 cases human hair. For Marseilles:-80 cases camphor. For London :-33 cases private effects, 380 packages tea, 3,175 packages fire crackers, 40 cases dried preserves, 17 rolls matting, 5 bales feathers, 8 cases silk goods, 100 cases chinaware, 4 cases curios, 10
woodware, 2 copperware, 12 cases straw cuffs.
cases
TRADE IN JAPAN.
cases
KOBE, 14th May.-The Market Report publish- ed under the direction of the Kobe Foreign Board of Trade states: The severe financial de- pression continues and it is to be regretted that at the present time th Native Press have taken occasion to make libellus statements regarding the financial standing of foreign firms of un- doubted position, but in the present state of the Law it appears hopeless to appeal through the Courts for redress.