C
472
THE HONGKONG WEEKLY PRESS AND
1874 1875... 1876 1877
| 1878
[December 26, 1908.
OPIUM.
HONGKONG, Deo. 21th-Since the 10th Îns, the movements in the various Opium marketa have been na follows:—
Stooks on the 10th Dec., 1908 — 830) 3,164 1,556 1,041 Dec. 11th Imports per
12th
Delhi
Year Sales Arrivals Year
Sales Arrivals
2.243
1891
161,504 218,735
2,715
5.809 17.598
1879 1880 1881
16.000 30.288 24.455 37.599 40.548 47.389 39.052 60.265
.
1892 219,189 237,569 1893. 171.491 207,935 1894 169.117 237,260 1895 213.834 257.803 1896 215.375 256.367 1897 187.948 279.482 1898 221.144 308.978 1899 203.618 315,310
16th 23rd
1900 1901 1902 . 185.213 288.418 1903 1904
152.277 151,610
197.992 298.885
168,884 291,739 146.633 219.605 147.617 338.696 81.813 269,869 137,618 146.395
54.813 55.705 75.565 82.286 89.889 97.200 112.450 137.072 1885 .147.894 150.221 1886 . 142,974 175,291 1887...182.152 178.790 1889 182,198 187.363 1905 1839 194.941 225.457 1905 1890 187.330 203,689 1907
its elasticity, and despite plagne and famine prevailing all over India, importations during 1899 reached the high, if not the highest figure, Bay of 315,310 bales, and sales amounted to 203,618 bales. In 1900, however there was an other temporary check to business. The failure of the Monsoon and consequent scarcity of the raw material necessitated the closing of the weaker mills and the general adoption of short time is Bombay, in October 1899. Receipts 1882 then fell off from 315.310-to 151.610, and sales 1883 from 203,618 to 152.277 balos. Since 1900 trade | 1884 once more advanced with rapid strides and at the close of 1905 imports to the extent of ¦ 338,696 were recorded during the 12 months, the highest figure in the annals of the trade. The Russo-Japanese war had then en led and in anticipation of the opening of Manchuria he Far Eastern markets were innudated with Yarn. We in Hongkong received nearly 31⁄2 lakhs of bales and Shanghai about the same quantity thus making up the amount
to
close upon 7 lakhs of bales in 12 month. Some- how or, other, thanks to the efforts of our noble allies, these anticipations were not realized, and in the absence of any adequate response from the consuming districts, this abnormal influx of goods told disastrously on the market during 1906. At the end of that year 11 out of 15 native yarn dealing Hongs collapsed with liabilities estimated at 3 millions of dillos and subsequently a ludian firms had to stop pay. ment with liabilities, estimated at over 60 lakhs of Rupees. Last year the trade increased in volume, but was on the whole unremunerative to importers. No better can be said of the working of the past 12 months for. although receipts and sales show a substantial increase, the efforts to adjust yarn prices to the lower level of exchange during the past two years, have rendered business most unsatisfactory and unremunerative.
At the beginning of the year there were in Bombay Island 90 Mills, working 26 lakhs of spindles and 32,000 looms. The earnings of these 90 mills during the last three years have been as under, viz-
-
In 1905 Rupees 3 crores, including Rupees 48 lakhs commission.
'
¡
IMPORTS. :----
COMMERCIAL.
COAL.
HONGKONG, Dec. 24th.-The arrivals of coal since the 24th ultimo amounted to 40,805 tons of Japanese.. The coal expected is 65,500 tons of Japan coal, 6,900 tons of Australian 6,000 of Hongay and Kelao and 1,800 of Borneo Quatations nero-ding to Mosari, Bugho- and Hough's cire dar ar, as fidum ---
. Cardiff......$23.50 to $ ex-golown, sellers.
Australian ...$12.50 ex-godown, sellers. Yubari Lap...$12.00 ex ship, sellers. Muki Lump$10.50 to $11.00 ex-sh-pnominal. Moji Lump
Malwa, Patua. Benares. Perria
$00
314
11
Kutsa ng Keongsang A Apear
100
200
3 0 150
Less Exporta to Shanghai ..
Less Exports to East and“; West Coast Ports including Lal Consumption for the fortnight..
Estimated Stocks this day..
£394 3,724 1,006 1,356
250 260
81
454 446 224
7581 3,020 1,270 1,131 Bengal. The market has ruled steady at $1,095, for New Patna, and $1,010, for Old Patna and $1,010, for New Benares and the Chinese have bought for their immediate requirements only.
Malwa,- Very dull.
Persian. We quote superior drug at $940/950.*
YARN.
HONGKONG-Mr. P. Eduljee, in his Report dated 24th December, states:-The commercial pfrogne it of tha last year is chiefly re ...rs.b.c i to numerous fluctua ions and ince sant declino in silver, producing seriou‹ disturbances in commercial operations, great depreciation in many ar.iole of produce, low prices, and more or less heavy losse to impor-
ters. $7.75 to $9.50 ex-slup, steady. aji Unscreened$6.00 to $8.00 ex--hip, steady. Akaike Lump ...$8.75 to $9.00 ex-ship, steady. Labuan Lump...$200, ex-ship sellers,
RICE.
HONGKONG, 21th December:-The prices are advancing a little, holders being firm.
Quotations are :— Saigon, Ordinary
.$5.50 to $5.55 Round, Good quality 5.10 to 5.20 Long....
5.35 In 1906 Rupees 3 crores, 14 lakhs, including Siam, Field mill cleaned, No. 2... 5.00 to Rupees 47 lakhs commission.
No. 1... 6.20 to 5.35 to 5.10 to
In 1907 Rupees 1 crore 96 lakhs, including Rupees 33 lakhs Commission.
|
*
1.
Garden, White, Fine Cargo
1
to
5.40
.5.15
latest circular dated Saigon 11th Dec., report:-
SAIGON-Messrs, Wm. G. Hale & Co. in their
Our last circularwas issued on the 13th ultimo and the latest pated advices roceived since are as follows:-Hongkong 8th instant. Yokohama 27th ultimo; Manila 4th inst. Java-4th instant, Singapore 7th instant and London 13th ultimo:
No. 2 White sifted (trié) steam milled
round
No. 2 White unsifted (ordinaire) steam
milled (round)
5% Cargo steam milled round
10
20
Cargo steam milled round
Cargo steam milled round
$3.54
3 18 3.13 3.03
The review of the yarn market +hows that this article of commerce to have parti- cipated in the general depression, with a few occasional and spasenodic efforts at excitement and animation, and the result of the year's business ha been far from satisfactory. The Indian trade, so far as Hongkong is concerned, has materially advanced during the past twelve months. Imports amount to 210,275 bales as against 146,395 bales Inst year, while bales aggregate 151,243 bales as against 137,608 bales in 1907, showing an increase of 43 and 10 per cent. respectively. As the evil effects of the late crissis of 1906-07. are gradually di-- ́ 5.03 appearing, the courry is in a better position to 5.25 absorb imports, and demand from the consuming 5.40 districts, despite natural and political disturbanors, has been on a much larger scale and on the whole a comp ratively good business bas been | put through, Importation during the first four months of the year met with some profit, and mora or leas covering prices were obtained, exchange kept steady and values appreciated $4 to $5 per bale owing to brisk enquiry. In May a sudden drop of 5 to 8 points in exchange took place, no adequate advance in rates coull be obtain d. and business was greatly checked in Consequence. A brisk demand from the country then sot in but as silver continued to decline, the advance in prices was not sufficient to allow much for the loss in exchange and all subsequent efforts to adjust them to the lower level of ex. change proved unsuccessful. On the whole, the year under review has been unrenumerative to the trade. Except in the case of some best and favourite spinnings prio's seldom reached the level of rates ruling in Bombay, and were it not for a few occasional assistance from Shanghai resu ts would have been more unsatisfactory. It is to be hoped that with the caution which the late crissis has induced and with steady silver and cheap cotton the operations of the coming year will be of a more profitable and satisfactory character. In the beginning of the year exchange stood at Rs. 143, and is now quoted at about Rs. 127; best spinnings of No. 10s were sold at $96 to $98, and are now qu.ted at $110 to $111; unsold stocks in January were estimated about 48,00; bales, and the market now closes almost lifeless with a trifling stock of 19,000 bales, The past twelve months have been very successful to our native dealers. Their proceedings have been marked by extreme caution and their purchases principally confined to actual require- inents under country orders and without an outlet for their purchases no concession on the part of holders to effect sales could induce free buying.
Prices according to terms and conditions. The following is a statement of this year's Ex- ports of White Rice, Cargo Rice and Paddy:
Destinationin.
In 1908 the earnings are anticipated at 1jerore. These handsome profits have gone a long way in strengthening, the machinery and financial reserves of many of the good mills. Apart from this consideration of profits the Swadeshi movement and the expansion of the home market has been given a great impetus to weaving, and the weaving of better cloth- The spindle power of Bombay during the last decade has increased by 20 per cent, whereas the loom power has increased by 50 per cent. The mills are now turning out cloth which would have been considered quite beyond their capacity a few years ago. The cloth turned ont in 1906 weighed-measured 3.447 yards per pound, in 1907 it measured 4.271. Šo that it will be seen that there has been more weaving than spinning in these mills lately. And the Bombay spinnings have now obtained a firm footing in `Arabia, East Africa, and the Levant, not to menti the home demand with its weaving the numerous hand-looms scattered over the country. The yarn has been recently placed successfully on the Manchester market and if the Indian spinners meet the wishes of and satisfy the requirements of the English buyer by guarranteeing quality and strength another rich and large market would be secured for their production. In short the Indian spinnings are not now solely dependent on the Far Eastern markets, and to quote the words of an Anglo-Indiani paper "W whatever may be Reunion the trouble of Lancashire and whatever may be the state of the yarn trade and yarn markets in the Far East, the prosperity of our textile industry is more or less secured." {
mills
These satistics given below may not be positively correct for Hongkong being a free port prevents any sort of official check or record, but they are taken from reliable sources and the totals are all from our own kept fortnightly figures, and it is reasonable to assume that they are not more out one fortnight than another and that consequently the figures may be taken as approximately correct :—
Hongkong Shanghai Ningpo Manila
oilo
Cobu Japan Batavia Singapore
Samarang Passoeran Sourabaya Cheribon Noumea
Mauritius ...................... Europe
#
Total.
Total pcs.
2,71,800 76,400 45,300 1,104,790
124,000
496,700
1,765,100 783,782
125,900
140,800 6-4,000 1,298,743
75,000
21,000 3-40,200 46,800 3,288,300
12,545,845 16,942,000
Same period of last yr.. Exports during the month of white rice cargo rice and paddy have been :-
Manila T Sourabaya....... Singapore....... Europe.... Total........
එ
A comparatively larger business has been done Ficuls
during the past fortnight chiefly for prompt
· 33,990 | delivery, owing to the appearance of weak holders 162,143 in the market. Prices, although showing slight 33,682 variations, here and there, are generally on a
7,200
level with late quotations. The country "is quiet, and dealers, without an outlet for their 236,015 holdings, are not now anxious to continue their