286
THE HONGKONG WEEKLY PRESS AND
militates against the holders of fresh stocks of their own, who not unnaturally are disinclined to accept prices now current here that are 10 to 15% below replacing cost. It is small consolation to know the home markets are likely to keep up, as the prospects of an increased demand for India are becoming brighter, when it is realised that at the same time excessive supplies are being import- ed by one's neighbours, with the object of getting a footing in the trade at any price. It certainly looks as though there is going to be a long and costly struggle for the possession of this market in Manchester makes, with the inevitable result of cheap goods for the consumer and heavy losses to the Importers. The movement of goods as depicted by the figures on the fourth page cannot be called sati-factory. True, the deliveries of some items show an increase over last year, but that was by no means an abnormal year, and then in almost every such case the Imports are still more excessive. And this applies to almost all makes, with the exception of Fancies, the deliv- eries of which have been artificially accelerated by the great sacrifices Importers have had to suffer in reducing their stocks. The outlook is not at all satisfactory from whatever side it is viewed, The Country market are without any special fea- ture and greatly depend on the progress of the harvests during the next few works. At the commencement of the interval a steamer adverti sed to load for Korea seems to have stimulated · the deliveries considerably. Yesterday orders for American goods came down from Newchwang and over two thousand bales had been bought up to noon to-day, but the second-hand holders, from whom they were bought, have been fairly easy to deal with. Importers will not look at the prices they are selling at, and consequently remain inac- tive. The Natives report the Tientsin market as having improved all round and fully expect to see a good demand before long. The Mid-Autumn selling day, which occurs on the 28th inst., is probably making itself felt in these times of restricted credit.. Hankow seems to be doing a quiet but quite satisfactory business judging by the off-take; it seems, however, to have changed its nature somewhat, as many former suppliers are complaining of the absence of orders for their goods. The strong position of Cotton owing to the expected shortage of the crop in the United States is keeping the Manchester market very firm, combined with the short time principle adopted by spinners. As regards staple makes business with this is quite impracticable, but small orders for Fancies are apparently still going through. In the Liverpool Cotton market there is a good deal of movement up and down almost daily this morning the "spot" price being advised as 6.84d steady. There is, however, some scepticism about this, as at the close yerterday 6.62d. was quoted for September, and earlier in the day 6 464. for December/January option. For Egyptian a slight decline is quoted, nam ly, 94d. In New York the quotations for Middling are 12.44 cents for October and 12.48 cents for December. There is no news of the goods market, which presumably is unchanged. The market for Yarns is keeping quite steady, though the firmer Exchange may have some influence on prices when the market re-opens.
The demand and clearances are fully satisfactory for the period of the year for all spinnings. The weather condi- tions continue distinctly favourable for Cotton and a fairly large forward business is being done, but prices are keeping very full. From what Im- porters tell us there is scarcely anything doing. from first hands and they are really beginning to despair that prices will ever be allowed to go high enough to permit of their selling at anywhere near replacing cost. The transactions reported in American makes are all from second hands and amount to over 2,100 bales. There is a good pro- portion of light weight Shirtings, of which we can quote Tls. 3.374 for Harding LL, Tls. 3.40 for Piedmont K, Tls. 3.571⁄2 for Easeley, and Tls. 3.62} for Buffalo LL; and in Sheetings some 3.25 yards at Tls. 4.271/4.40 and heavier weights at Tls. 4.70 for Loray A and Abbeville and Tls. 4.80 for Massachusetts. In Drills 3 yards have changed
hands at Tls. 4.70, Cameron at Tls, 4.95 and Massachusetts at Tls. 5.00. The Auctions have not shown up very well for the staple makes of Grey and and White goods, though the differences in most cases are not very great. In only a few instances have Turkey Reds shown any apprecia- tion, but this is probably accounted for by the increased supplies coming forward recently. Fast Black Italians, on the whole, have realised steady to firm prices, considering the free quantities that are being offered, upwards of 12,000 pieces a week, not counting miscellaneous Auctions. Venetians are weaker as a rule. Woollens have not sold very sucessfully, the demand, apparently, not being very even. Lastings and certain colours of Camlets have shown some firmness.
OPIUM.
HONGKONG, September 23rd.
Quotations are: Malwa New Malwa Old Malwa Older Malwa Very Old Persian Fine Quality Persian Extra Fine Patna New...... Patna Old.... Benares New
Benares Old
EXPORTS :-
$1,150/1,180 per picul. .$1,190/1,220 do, $1,230/1,260 dol .$1,270/1,300 do. ..$1,100/1,140 do. ..$1,000/1,050
$1,115 per chest. ..$1,100 .$1,070
SILK.
$1,070
do.
do.. do. do
YOKOHAMA, 15th September, 1909. RAW SILK-Our last report was dated the 26th August, and during the fortnight under review a further declino in prices has taken place. A somewhat better demand was experienced by the end of last week; but as soon as immediate re-
quirements were filled, our market again became flat, and at the close things generally are weak. The Autumn crop is large and of good quality, so that our original estimate of about 140,000 piculs is likely to be realized.
WASTE SILK.-Market quiet with some business in Osbiu Noshi and Tegarab. Quotations slight ly easier. Settlements from August 26th to September 8th, 1,200 picule. Total Settlements from July 1st to September 8th, 4,250 piculs. Stock en September 2th is estimated at 12,500 piculs, viz.:-Noshi 4,5 0 piculs. Kibizze 6,800 piculs, Pierced ocoons and Sundries, 1,200. Total 12,500 picule. Against last year 13,000 piculs.
HABUTAI.
YOKOHAMA, 15th September, 1909. KANAZAWA.—Prices are somewhat higher owing to decreased production and to a demand, princi- paly in "26" and "36", for better grades for America. Echizen. The production is still small, and, with the increased demand which has set in, prices have an upward tendency. Kawa- mata. There is no change to report. There is a steady demand for "36" in better grades and in "27" in lower qualities.
CAMPHOR
HONGKONG, 27th Sept. :-The above market is at a standstill and prices remain as last quoted,
MISCELLANEOUS EXPORTS.
HANKOW, 16th Sept.-The prices quoted are for the net shipping weight excluding cost of packing for export:-
Cowhides, best selected. Do. seconds...
Per picul
.Tls. 38.00
Buffalo hides, best selected Goatskins, untanned, chiefly white
colour,...
White China Grass, Wuchang and/or Buffalo Horns, average 3 lbs. each
Poochi WhiteChina Grass,Sinshan and/or Chayu Green China Grass, Szechuan Jute...
White Vegetable Tallow, Kinchow White Vegetable Tallow, Pingchew
ånd/or Macheng
White Vegetable Tallow, Mongyu Green Vegetable Tallow, Kiyu.. Animal Tallow
Gallnuts, usual shape. Gallnuts, plum do. Tobacco Tingchow Tobacco, Wongkong. Black Bristles, Feathers, grey and/or white Wild Duck Turmeric..
Sesamum Seed Sesamum Seed Oil
Wood Oil Tea Oil
"
"
15
34.00
22.00
9.10 8.10
11.40
11.00 11.10
15.70 18.00
5.30
9.30
P. & O. steamer Borneo, sailed on 23rd Sept- ember. For Hamburg-5 cases human hair. For Manchester-150 bales waste silk. Marseilles 100 hales waste silk, 5 cases human hair, 50 cases Starain Seed. For London-2068 pkges. tea, 350 casks preserves, 87 cases preserves, 11 cases curios and personal effects, 1 case machinery, 5 cases oilmen stores,
[September 27, 1909.
HONGKONG SHARË QUOTATIONS.
HONGKONG, 24th September, 1909.-There has been a little more movement in local stocke during the week under review, but rates have ruled weaker nearly all round, and the volume of business is still anything but large. Ex. change on London closes at 1/87, T/T and on Shanghai 743. There has been a fair business in Rubbers at generally advancing rates, and the market under this heading closes firm,
BANKS. - Hongkong and Shanghais have ruled steady without any change to report Sales at 990 have taken place and sellers at 995 rule the market at the close, while buyers at 990 continue to the fore. National Bank of Chinas remain unchanged and without business,
MARINE INSURANCES.—Unions have been a strong market and after several sales at 840 and 842 close in demand at the latter rate. Cantons remain unchanged and without busi- We have nothing further to report nese, under this heading.
FIRE INSURANCES.-Hongkongs have im- proved to 360 with sales and at time of closing buyers rule the market, Chinas have receded to 114 with sellers, but buyers at 113 fail to be Batisfied.
SHIPPING.-Hongkong, Canton and Macaos continue weak and after some small sales at 314 close with further sellers at that rate, Douglases have receded to 33 with sellers on the publication of the report for the year ended 30th June, which shows a balance at the credit of P. & L. ajo of $1,311.54 after payment of all running expenses, Insurance, and remuneration to the The Consulting Committee and Auditors. balance is recommended to be transferred to the
Reserve Fund, from which it is proposed to take $35,950,33 to provide for depreciation of the Company properties. Other stocks under this heading call for no special comment.
REFINERIES, China Sugars in the early part of the week changed hands at 147 and 147; but towards the close sales were effected at 146 and the market closes quiet at that rate. Luzons. remain at 23 with no sales to report.
MINING.The interest of the week has been centred in Langkats, which show another serious fall to 850, after small sales for the end of the year at 920 910 and 905, chiefly, if not entirely for covering purposes. At time of writing sellers rule the market in the North, and it is difficult to find buyers. Raubs have declined to 8 with sellers, at which rate we bave only small sales to report. Chinese Engineerings have declined to 17, but buyers at that price rule the market.
DOCKS, WHARVES AND GODOWNS.-Hong- kong and Whampoa Docks show a further fall and after sales during the week at 58, 57, and 56, close with sellers at the last rate and a weak market. Kowloon Wharfs have changed hands in fair lots at 61 and 60, closing with sales and buyers at the latter rate. Shanghai Dooks remain steady at 77, after a small rise during the week to 784. Hongkew Wharfs have ruled easier at 147.
LANDS, HOTELS AND BUILDINGS.-Hong- kong Lands have been the medium of a fair investing business at 104, and at time of closing further shares are wanted at that rate. We have no further business nor changes to report under this heading.
COTTON MILLS.-Ewos are quoted in the North at 138, and Soy Chees at 475, by wire; the other stocks under this heading are taken from the lastest Shanghai circulars to hand, Hongkongs in the early part of the week were placed at 6h, but shares are obtainable at that rate at the close.
RUBBERS.-There has been a fair, but s somewhat erratic business during the week, rates ruling strong and with an advancing ten- dency in sympathy with a further great advance in Rubber and with an almost general advance in stocks in London, At the close several
stocks are enquired for locally, but it is diffionlte to satisfy the demand at quoted rates. The following sales have taken place during the week: Shelfords at 33/6, 34/ & 34/6. Balgow- ines at 58, 60 and 62, Linggis at 24/ and 24/6,