414
-FLOUR.
A MOY.-Since the 6th inst. 19,939 piculs of flour have arrived and 899 piculs of wheat.
COTTON.
KOBE. From the Kobe Market Report, June 16th:-American:-The unfavourable" condition of the weather which tends to strengthen quota- tions of new crop, and the shortage of "Spot' Cotton in América, have caused a decided rise in prices for "Spot" in the home market, Good middling being reported at Y40.00. Latest quota- tions of middling and good middling, Oct. ship- ment, are given at Y34,00 and 35.00 respectively. "Spot" business locally is nominal, closing quota- tions being Y32.25 for middling and Y34.50 for good middling. Indian:- Small stocks in hands
of mills, and in the market, combined with the strong tendency of American cotton have caused a great improvement in Indian rates, and large transactions have been done in beth "forward" and "spot" cotton old crop. Closing rates are: -Brosch Y27.00. Akola Khamguam Y24.00. Chinese:-Quotations are nominal at Y2700 for "Best" and Y23.00 for "common." No business
has been done in either "forward or "spot,"
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the cotton being at present out of season.
YARN.
HONGKONG-Mr. P. Edaljee, in his Report dated 26th June, states:-The depressed condition of this trade, noticeable for some montus past, has been more than aggravated by the recent disas- trous floods in the Southern Provinces, involving the almost total destruction of the Spring rice crops, and entailing a considerable loss of life and property in the consuming districts. To those natural causes may be added the rising tendency in exchange, rendering business entirely impracticable under the circumstances, Settle- ments of the interval are about the same as during the previous two weeks, prices receding 50 cents to f2 per bale, No. 208 suffering the most. Bom- bay is reported quiet but steady. It is stated that in view of the prevailing depression in the trade and on the representations of exporters to China the four Conference lines of steamers running between Bombay and the Far East have reduced their freight on yarn to China by Rs. 2 per ton from April last. This small concession, however, would appear to have dissatisfied the shippers who are now asking for a further reduction, and strong efforts are being made to put opposition steamers on the Bombay and China line, but doubts are expressed as to the practi- cability of the scheme. Bales of the interval aggregate 2,872 bales; arrivals amount to 6,567 bales; unsold stock estimated at 26,000; and sold but uncleared bales in seconds at 15,000 bales. Local Manufacture-No business has been re- ported. Japanese Yarn:-Nothing doing. Raw Cotton: -A very extensive business has to be reported in the raw material, particularly in Indian descriptions, say 1,231 bales superfine Bengals at $22 to $23 per picul. Nearly a moiety of this quantity had been sold during the previous fortnight and reports withheld. Exporters to Japan have been much in evidence, and heavy shipments are made to Kobe, leaving a meagre stock of 250 bales on the market. In China kinds 230 bales have been taken up at $23 to $24. Stock 370 bales. Quotations are $20 to $23 for Indian, and $22 to $84 for China. Exchange on India has taken an upward turn in sympathy with silver and closes steady at Rs. 1394 for T/T and Rs. 140 for Post. On Shanghai 74) and on Japan 91. The undernoted business in imported and local spin nings is reported from Shanghai during the three weeks ended the 20th instant, viz: Indian:-
The chief feature of the interval has been the very 'brisk enquiry for No. 12s for the Kiangse markets where stocks are allowed to run very low. Total sales amount to about 10,000 bales at steady to firm prices, with an estimated unsold and un- cleared stook of about 45.000 bales, Japanese Yarn.-In moderate enquiry, total sales aggegat- ing about 2,500 bales on the basis of late prices, say Tls. 861 to 944 for No. 18s and Tls. 95 to 100 for No. 208. Local:-Sales of 1,250 bales No. 14s, by a local milkare reported,
THE HONGKONG WEEKLY PRESS AND
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COAL.
HONGKONG, June 26th.-The arrivals since the 11th amounted to 47,969 tons of Japanese; 5,466 Newcastle N.S.W., and 4,130 Hongay. The Hongay coal was consigned to Canton. The coal expected is 66,500 tons of Japan coal and 5,500 tons of Australian, Quotations according to Messrs. Hughes and Hough's circular are as follows:-
Cardiff....... .*- to $ ex-ship, nominal. Australian $12.00 ex-ship sellers. Yubari Lump...$12.00 ex-ship nominal. Miki Lump...$10.50 to $11.00 ex-ship, nominal. Moji Lump......$8.00 to $9.50 ex-ship, steady. Moji Unscreened$6.00 to $8.00 ex-ship, steady. Akaike Lump...$9.00 to $9.25 ex-ship sellers. Labuan Lump $9.23 ex-ship'
PIECE GOODS.
SHANGHAI,-From Messrs. Noel, Murray & Co.'s report dated 19th June:-There is a distinctly better feeling in the market, the dealers showing much more disposition to buy if sellers will accept what they consider a reasonable advance on pre- vious prices. In cases where goods are held that cost more than subsequent shipments now on the way Importers are showing some willingnew to take advantage of the enquiry even though the prices offered show a dead loss, and are consider-
For this reason
ably below what the goods could be replaced at, and in this way a fair amount of business has gone through in staple makes of Manchester bleached and grey goods, and at a moderate advance in prices. Clearances have improved considerably. Buyers for Tientsin have been active in their en- quiries for American goods, and their peregrin- ations amongst Native holders has disclosed the fact that the stock of available cargo in second handa is getting decidedly scarée. they have deemed it advisable to book the goods at the prices they can be obtained at now, but are not clearing them for immediate shipment. From this it can only be inferred that the Tientsin market is not quite ready for the goods, but at the same time it is a straw which shows which way the wind blows. It is said that some of the trans- actions consist of resales by Newchwang merchants who are content to take their profit on this market, the Exchange between that Port and this being 80 uncertain. The Hankow market is quiet, as far as fresh business goes, but deliveries in that direction are keeping very fair, and indeed for most of the River Ports as well as Ningpo. The trade in Corea is in a state of suspense pending the out-turn of the Rice crop, which in turn is dependent on the weather. Ram was badly wanted up to a week ago to assure anything like as good a crop as the average for a few years past. If the crops turn out well it is anticipated trade will be brisk, and the Chinese Merchants will have the cream of it, the financial straits the Japanese dealers are in greatly curtailing their trading powers. Meanwhile Manchester is strong at prices considerably over those current here, in many instances when inquiries have been made as much as eight pence and nine pence a piece. The Liverpool market has kept very strong for Cotton, Mid American closing on the 16th inst. at 6.55d. when "futures" were quoted six pence, and Egyptian 7d. for spot, being unchanged. The New York market is strong and prices are prohibitive, Cotten, according to telegrams received yesterday, was quoted 9.80 cents for October and 9.46 cents for December but this morning 9.99 cents gold was received for Septem- ber option. This latter price would indicate an important rise which Liverpool has not advised as yet. The transactions that have taken place have been confined to a few houses that have available supplies on hand, and of which it is difficult to glean particulars. They embrace all weights of Grey Shirtings, and 6+-reed and finer and heavier makes of White Shirtings. Fancy goods remain a dead letter.
brisk demand for | Yarn has been met with, especially Indian, and clearances are on a satisfactory scale. Native Cot- ton is slightly easier, but there appears to be no demand even at the decline. The news is tele- graphed from Indian that the monsoon has burst.
SHANGHAI-Messrs Пlbert & Co. in their Re- port, dated June 18th, state-A distinctly better feeling prevails in the market, and although demand has not been general, there has been greater activity in some important departments of the trade, such as American drills and sheetings; prices are about one mace per piece better than last week, and at the higher ex- change now obtainable forward, replacing cost than has been the case for a long
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[Jane 27, 1998,
time.. This refers, however, only to a few favourite chops; as regards the bulk of the trade prices here have still a good deal of leeway, to make up.
In any case supplies are still moro than sufficient for the immediate requirements of the trade generally, especially when it is borne in mind that a sudden demand is often shortlived. The increased inquiry has this time come from Shangtung and Tientsin, and this ia perhaps the the most encouraging feature in the situation; the long-looked for rain has fallen, which, although very late in the season, will probably save the crops from being a complete failure; merchants dealing with these markets have been encouraged by the brighter prospects to operate more freely, making the demand less speculative than is often the case. Chinese report that stocks of American goods at Tientsin have run down to small proportions, and as there is said to be a great curtailment of business there on the basis of deferred payment, it is probable that trade will return to its former channels, and that the duplication of supplies ordered direct from the north and from here at the same time, will be less general in the future than has been the case of late years. Importers both here and in the north have suffered so heavily from loss of interest incurred in holding heavy stocks that it is only reason- able to hope that every effort will be made to reduce this heavy burden on the trade.
Cotton has advanced to to 6.63d, which seems to bear out the views of those who have for many months pointed to scarcity of good qualities as more than probable throughout the summer; reports upon the now crop are favour- able, but it it is too early to base any cal- culations upon its effect on prices in the autumn. The rise in Exchange has had no adverse influence on currency prices; it has perhaps had a good effect the market generally. Local cotton is gradually becoming exhausted-very small supplies are now avail- able, and prices are extremely high; yarn is quieter. but there is no change in prices.
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From Newchwang there is little now inquiry, but business with the River ports has been resumed on a fairly satisfactory scale. There even signs of better prices for some dos- criptions of fancy goods, as buyers are beginning to feel that at last supplies are showing signs of falling off, and that prices are unlikely to be lower.
A prominent importer of Shanghai writes that the piece-goods market there is not suffering from excessive stocks, but merely from excessive funk and the obvious weakness of the holders The of a considerable slice of the stocks. statistical position of staple goods, he says, is excellent and this remark applies also to many lines of Fancy goods. The collective stocks of the items of Fancies which are giving colour to the whole P.G. market he gives as 2,076,000 pieces (on June, 12th) against 1,709,000 last year and he adds:-What is a stock of 12 months consumption to a place like Shanghai? It cannot be classed as unwieldy for a great distributing centre even in normal times, but, with the certainty before us of diminishing supplies, it would be a perfectly manageable stock if firmly held.
KOBE, June 16th,-The market for Shirtings, Cotton Goods and Fancies, Worsteds and Wool- lens, remains lifeless, very little new business offering.
HONGKONG QUOTATIONS.
HONGKONG, 25th June. 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 Bandalwood
54
$10 to 13
811 to 12 $191
$16 to 22
$83 to 86
$120 to 144 $6 to 9 $2 to 5
$10 to 12
$16
$18
$2 to 17
$350 to 350 850 to 150
$215
Rosa..... Cassia..
Raisins
39
Senna Leaves Sandalwood
Saltpetre
$6 to 8
$32 $16