Page
"LOCAL TRADE REVIEW
IN 1922.
month or so it has been over 14d.
THU
and closes at 19/6 Dealers were baring early in the yearnt $8.80 per picul keg, and bst week paid $8.63*
RAW COTTON AND YARN. The local consumption of raw cotton this year has been very small-not amounting to 300 bales. The prica has steadily risen from about 92. per lb. in January to as high as 154d. It has not been below 1/.wang Si, have been cut off for a since the middle of the year. For the past The Cotton Yarn business was marked at the beginning of the rear by a good demand for China New Year, but then came period of stagnation due to the Sea- men's Strike, resulting in an accumulation of stocks which proved a drag on the market. This stuta of affairs was aggravated by beavy shipments from Bombay throughout the summer months; and by the disturbed conditiona which pro. prevailed in the neighbouring vinces. Reduced demand la to decline in values, but bo reports of unsatisfactory cotton crops, the close of the year has seen an improvement. Total clear ances of Indian yarn are estimated at 92,000 bales, as compared with 120,000 in 1921.
Most of the Wire Nail tride has been' done by Bolgian and Continental suppliers, American prices being considerably higher.
The Serap trade has been fair, but dealers have not made profits.
The largest consuming districts in
troubles prices for Plate Cuttings have part of the year, owing to the political been steady, the price early in the year, standing at 142/6 per ton eff, and cloning at about 187/6. Dealers have paid $4.00 down to $3.30 per picul. A good burinesa has been done in Bar Croppings, at prices ranging from $4.20 to 89.75. The Old forseshoe trade is gradually dying out supplies being very scarce.
1
A noteworthy feature of the your has been the increasing demand in the South for yarn from Shanghai "and Japan which has resulted in an almost complete absence of demand in the local market for the higher counts of Indian yarn. The position of the Indian yarn market generally has been made worse by the recent heary fall in exchange, which gives local yarns a great advantage over those imported from India.
COTTON PIECÈ GOODS AND FANCY
COTTON GOODS.
The year opened inauspiciously with a Seaman's Strike threatening. This strike was declared about the ond of January, and culminated in a General Strike which lasted until nearly the middle of Mirch. During this time there was no business. All ateamers landed their Hongkong cargoes at Singapore and/or Shanghai. The aub arquent congestion and delay in forwarding the goods to Hongkong caused many dealers to miss their Spring Market, and the merchandise had to be carried over to the next season,
There has been a remarkabla falling off in Staple 4. Grey and White Shirtings, and the turnover is probably only about a quarter of last year's. The reasons for this set-back are variously "explained by the Chinese as being due to the lawless atate of the Country especially Kwang Si, and/or to the fact that the natives are weaving their own clothing on hand looms. Oo the other hand, Dyed and Fancy goods have been in -demand, and one imagines that the turnover for this year will not fall far abort
-of 1991;
Quild asked for a revised Standard Form A month or two age, the Ficce Goods of Contract for Fancy Goods, and äfier a stated period declined to buy anything under the existing Standard Form of Con tract. After somewhat protracted negotia tions a final settlement has been arrived at which it is hoped will prove permanently satisfactory to all parties concerned.
The political situation in China remains chaotic, and it is very difficult to understand what is really happening.
The Manchester markat has fluctuated throughout the year, but the prevailing
endency has been to weakness.
WOOLLEN GOODS.
Stocks of all lines are not large, and with the lower archange now prevailing, dealers are well bought. Replacing costs are considerably higher than prices paid during the last two months. Given a respite from political troubles in the adjoining Provinces. business at the Chinese New Year, should improve, and dealers: would then be in a position to recoup any losses made this year.
SUNDRIES.
On the whole, Sundries business during 1992 has been disappointing. Merchants have liquidated most of the stocks thrown back on them by bankrupt dealers in 1920/21 but quite a lot of Plate and Window Glass, Leather. "Canvas, Em- broideries, etc., have atill' to be disposed of."
moderate business has been done in razors, fertilizers, watches, seaming twines, shoe fadings and other lines too numerous to mention which come under the heading of Bundries.
German competition has made itself felt and a fair amount of business in clocks, dyes, etc., has been booked. The uncertainty of prices and delivery, however, are a serious hindrance to trade with Germany.
HONGKONG DAILY PRESS, FRIDAY, DECEMHFR 22ND. 1999,
ALLEGED BREACH OF CONTRACT.
OLA IM FOR EXCHANGE DIFFERENCES.
PARODIERA RUSTICANA.
[BY ORIENS.]
II.
THE FEATS OF THE YOUNG MEN,
(With apologies to Kipling.) -*
monsoon, winds are loose,
-At the Summary · Court, yesterday," Mr. Justice Gompertz (Puisne Judge), heard an action in which John Manners Now the cruising, time, is opened, now the & Co., Ltd. (formerly trading as Manners & Backhouse, Ltd.), sued Wung Fung Shek (trading as Fung Shek Ors, of 11, Des Vaux Road, for breach of enn- tract.
Mr. T. H. H. Turner appeared on he half of the plaintiffs, and Mr E. David- son for the defendants..
Mr. Turner explained that the plain. tiffs' claim was for $300.05, damages, for breach of contract. He alleged that on August 23rd defendants agreed to deliver 20 cwt, of bismuth, are at a 65 per cent. minimum, at $2.25 per unit per picul, free by lighter within four weeks De fendant failed to do so, and on October 11th he definitely refused to carry out the contract. The plaintifs had entered into
exchange contract with the Chartered Bank for £343 in respect of this contract when the exchange was 25. 7.7/18. and resold to the Bank as 2.6.3/83. when the defendant refused to carry out the bar gain.
Mr. Davidson, urged that it was most astonishing proposition to put forward that because his client had admittedly broken a contract for the sale of bismuth ore he was to be saddled not only with the damages for a breach of that contract, but also for losses resulting on another cony, tract made by the plaintiffs with some body else, of which he had no knowledge.
Now we want to get away to clear the Now the Young Men's minds ars troubled
brain
with a whisper of the blues, Now the Miss Bay makes its medicino
Jagain!
"
Who hath been the merchants worried F
Who is wearied with the town? Who hath in awake to hear the wild
deer's cry?
Who bath tried to do some business with
the dollar dropping down
P Or is tired of going tmuwied to the sky
He must go-go-go away from here} On the other aide the range he's overdue, Send your road is clear before you when
- the
Cruising fret comes o'er you
And the Mire Bay calls for you!„ So for one the wild wares washing upon the
weather bow,
And for one the joy of making a good tack,
And for one the calmer waters where we
balt and take our "chow." Aud for one the walking up a mountain
track Who hath felt the chill at twilight? Who
hath seen the bill-fres burning 7 Who is quick to hear the voices of the
night 2... Tet bith follow with the others, for the For the cores of proved desire and known
cruising men are yearning)
delight.
Let him gogo, etc.
Native competition becomes stronger every year. Now factories are spring g up for the manufacture of goods previously had suffered a loss purely through the you know that rippling stream,
Mr. Turner argued that the plaintiffs Do you know, the bamboos bending? Do imported through the foreigh hongs, and defendant's breach, and the latter was With the maddy-watered parli at the end; merchants are finding that several of their therefore clearly liable. If the defend. And the bar of sin-warmed shingle, where largest customers are ordering their rennt had delivered the goods, the loss amiah may lonf and dream, quirements direct from buying agents at would not have occurred. it was the And the grunt of coolies sweating round home and from manufacturers.
invariable practice for merchants to enter
the bend?.. the risk of speculating into exchange contracts unless they took
In spite of all these obstacles, there is
still quite a lot of business to be hid if dealers could waly be couflent that goods will reach the intendel destination when sent up-country and not fall into the hands of the gangs of robbers who infest practi ally the whole of the interior.
The pernicious practice still continues of embarrassed dealers being allowed to sell their assets to a party who takes no responsibility Tor the latilities. It is almost incredible that trickery of this nature is tolerated in a British Colony and done to enforce the registration of Chinese it is to be hoped that surasthing will be partnerships."
The drap in exchange towards the end of the year put the boue prices beyond the reach of local values, and, when one con siders the conditions prevailing in Cantou and the consuming districts, it is not to be wondered at that we are passing through one of the quietest periods of trading ever experienced in the China trade,
brighter, for stocks are low and, sooner or The prospects for 1923, however, are later, the troubles in Canton mu tcense and leave the track clear for the wheels
of commerce.
RICE.
The costly purchases made during the the boom of the winter of 1919/20 were It is a sad thing to have to admit, but still in evidence in 1922. Early in the year nevertheless quite true, that we have lost several lots of blankets were bought at a very considerable portion of our trade prices which seemed remunerative, but to- Siam, and Saigon Rice with the United wards the end, of the year, there was a States and the West Indies. Owing to the ateady decline in local values and further shipping facilities now available to them, losses were made. Dealers were too scared Sium and Saigon shippers, were not slow to buy forward delivery, while conditions in in taking full advantage of the oppor the interior were so unsettled and Canton tunity offered them to wrest this trade exchange going so much against them... from us, and it looks as if Hongkong The cold snap in Novetuber brought a exporters will have a hard time ahead welcome change and most European of them in ro-capturing the business. firms get rid of their stocks of blankets. A notable feature during the period under Dealers were clamouring for stocks of review was the importation of large Lastings, Camlets, Broadcloths, Her- quantities of Burma Rice, but on the whole ringbones, etc, but none were the qualities were not satisfactory and ・be had Several orders for these goods serious claime resulted. A good deal of have been placed for next. winter and larger this rice was re-exported to North China, orders could have been pot through, had Canton, and other near-by river ports. not exchange dropped, making Bradford Prices on the whole have ruled low and as prices and local rates wider to bridge, good crops are expected both in Siam and Merchants, are exercising extreme Cochin-China, we may reasonably hope cantion that only sales are made to reliable for ample supplies at cheap prices in the dealers who stood by their contracts during coming senso the 1920/21 crisia.
TOO
to
The year closed with prospects brighter than they have been for a long time, and if only the strife and turmoil so prevalent in the consuming districts would subside. 1923 should see the silver lining of the dark cloud that has been banging over the woollen trade for the past year or two.
...METALS.
JJ
"THE TEMPEST,"
A FAMOUS PASSAGE.
"The Tempest concludes with that
His Honour reserved judgment in order to consider the law upon the point.
COURT MARTIAL CASES.
DESERTED HIS REGIMENT.
It is there that we are going, and at night-
time we are reading
""
By a smoky smelly lantern that we know ;. "On a couch of well-stuffed mattress, with
our mouth a fragrant wood in,
For the Mirs Bay calls us out and we must
go,
They must go-go, etc.
Do you know the Starling Inlet, here the where the high sterned fishing junks do
sens are sleep and short,
bob and ride?
leeward of your port,
yesterday at Murray Barracks, Pte. At a District Court, Martial held Lawler, of the 2nd Battalion, King's Regiment and with losing, by neglect, In the dark with fishing-stakes on every Rag was charged with deserting bis Do you know the toil of threshing miles to articles of equipment valued at
It is there that I am going with a lively Just a cheerful long-limbed loafer that 1
pal and ckum,
The accused pleaded guilty to both charges.
Evidence was given to the effect that be. Garden Laze, by members of the Garri was arrested in plain clothes in Spring son Military Police.
His army record
gave his service as three years and 187 days, and his age as a little over 21 years Aldershot on a charge of desertion He had been previously convicted at
mulgated in due course.
The Ending of the Court will be pro
A FAREWELL SEND OFF. The other case before the Court was that ofte. Langridge, of the 27th Company, noss on the night of December 2nd and R.A.M.C. who was charged with drunken, with striking a person in whose custody be was placed.
-
He
*side P
know;
can take his chance of drowning as For the Mits Buy calls me out, and I must the fierce gusts make things hum;
BO!
He must go-go, ető.
1
Do you know the stucco village where the
samahu dealers trade ?
Do you know the war of fish and wet
bamboo?
Do you know the steaming stillness of the Where the lazy loafing padi birds flap
wind-forsaken glade,
through?
The accused pleaded It is there that I am going, with my Kip guilty to the second charge.
guilty "to the first charge and “not ling and kimono,
To a charming sady inlet that I kno
To
For
PRESENTS.
MESSRS.
MAPPIN & WEBB
́HAVE SENT US A NICE
SELECTION OF INLAID TORTOISE SHELL.
TRINKET BOXES.
Dance At
PUFF BOXES.
HAIR TIDIES, PIN TRAYS,
BRUSH SETS,
"&c.,
EXQUISITE CHRISTMAS GIFTSL
WE HAVE ALSO RECEIVED A CONSIGNMENT
OF THE FAMOUS
ROLEX" WRIST WATCHES
THE WATCH WITH THE GUARANTRE.
LANE, CRAWFORD, LTD.
CAFE WISEMAN'S
CHRISTMAS SPECIALITIES,
WALNUT, MOCHA, COCOANUT GATEAUX
Made under ideal conditions in Daylight Bakeries, these cakes are unsurpassed. for freshness, fine flavour and quality.
From 1.00.
SCOOTH SHORTBREADS
(ROUND)
Each 50 cte, and $1.00.
RECORDS FOR
the Mirs Bay calls me out, and. I n.ust. go: He must go go, etc.
a place for getting water that dripe brightly down a stone-o,
:
THE FIRST NOEL
7191
The accused in a statement on path said he had gone to see some friends off by H... Findiction, and they had some drinks. He later went to the supper bar of the Soldiers' Club, where he appar ently went to sleep on a table. His next recollection was waking up and finding Boy or boatman; cook, or coolie he is two persons manhandling him, "and he might have then struck out instinctively For the motor car's arrival or the train,
waiting; like a sphinx, without intending to resist arrest. On the Taipo Station platform amongst the And piles of stuff enough to turn the brain.
chow" and drinka,
Then we trail along the pier, and we cram
into the dinghy,
that the accused said to the Lance Cor
Further evidence given was to the effect. poral, You are not putting me in the statement absolutely denied this,
guardroom." The accused in his
The finding and sentence of the Court in this case will also be promulgated in due course..
OFFICERS MESS ROBBERYA
grand passage in which Prospero forence MESS COOLIE SENT TO PRISON. the dissolution-of all material things. Part of it forma a fitting epitaph on
*
Sure, you do jock, my son, in a mov'd
O-S Camming."
And we're on board the lugger once again;
On the other side the Bay we're overdue 1 And we go-go-go away from here!!
Send the course is clear before you, With no rock ahead to gore you,
When the Mirs Bay calls for you!
SERVICE.
AN ILL-REQUITED
ONE HOUSEBOY ROB'S ANOTHER.. Business during 1923 has been difficult Shakespear's effigy in Westminster Abbey, at the Royal Artillery Meas Granville
As the result of ataamber of robberies, both from Importer's and Dealer's points and is also engraved on the walls of a Road, Kowloon, a former coolie, of, the phrey's. Baillings, Howloon, recently A houseboy employed at No. 38, Hum of view. The Seamen's Strike in the early magnificent cavy of Purbeck-stone at Mens was charged before Mr. JR Whoo, engaged another to assist him at dinner part of the year reaniting in the over- Swanage which by ita formation, yesterday, the Magistracy with party. The existant ill-repaid his friend carrying of large quantities of cargo, the grandeur, and embrace.ecoms almost to stealing articles of clothing and jewelery by stealing from himtane pafriof gold constant troubles in the two neighbouring invite a tempestuous and stormy son from Capt. J. M. Murphy and Capt mounted rattan bangles and three gold provinces and the fluctuations” în Con- tinental Richangée; have all added to the difleulties of negotiating satisfactory business. The turnover has been emaider- ably below average, with mingi parcels ordered from Germany failing to arrive?"
Prices for Steel Bars, Angles, Joists, at the beginning of the year stood at £10. per ton c.i.f., but have gradually segged, and last quotations were round about £8. 10.0. Deulers ware paying in the early part of the : year 85 to 8h.26. 'per: "picul, but business, during the last week has been closed at $1.40
... Business-in Bleel Pletes has been much below average, very few important transc tions having been fixed during the last balf of the year ago
TheWie Nail trad has also been dia appointing Prices; however, live beau very steady, with little inclusion. Early if the year the price for the most common specification (14"-8") opsued at 2016 cif.
-wort
As if you were dismayld be choarful, sir. Our revels now are ended. These our actors, As I forstold you, were all spirits, and Are melted into air, into thiu sirett
Tan accused pleaded guilty to stealing ring Information was given to the Long pyjama, jacket and a pair of white police, in consequence of which the thief Hannel trousers belonging to Capt e arrested In the meantime he had Murphy and one felt hat and a pair of sold two of the rings to a goldsmith's cufflinks from Capt. Cumming
accountant in Circular Pathway, and had Capt. Cumming informed his Worship hidden the other articles in a basket! that on the third Sunday in November J. E. Wood sentenced the thief to three A the Magistracy, yesterday, Mr. and left his felt hat on the hat stand months' imprisonment with hard labour. he returned to the mess from Lyemun
The solemn temples, the great globe itself, but did not report, the matter because he charged with receiving the two rings, After supper she notleed it was mising, The goldsmith's accountant was alm Yes, all, which it inherit, shall dissolver" And, like this insubstantial pageant faded, thought a fellow officer might have taken knowing they were, then Leave Act, a
it in mistake. But the hat was never Inspector Shannon, of Kowloon, stated wreck, behind. We are such found. On the 13th inst. he missed that he did not wish to prees for a con- stuff.
pair of caff-links, Capt.Murphy found viction, because it now appeared to him
And, like the basaless fabrio of this vision, The cloud-capp'd towers, the gorgeous
palaces,
As dreams are made on; and our little life that he
la rounded with a sleep,Bir, I am vex'd; clothing also was miming articles of sunt the accountant had acted bond fide Boar with my weakness; my old brain is Sub Inspector Shannon stated that the for the accused, said that the purchase SRAEL BAME D'Almadag, solicitor, who appeared defendant was arrested outside" a brothel
As troubled. Det
Be not disturb'd with my infrmity:
If you be pleas'd, retire into my coll,
And there repose a turn or two I'll walk To still my beating mind."
in Yaumati, wearing the clothing he had was made in the ordinary course of busi- stolen
The accused was sentenced to six weeks hard labour on each charge,
new, ns the firm's account book would show.
The accountant was dischar
LANK, CRAWFORD, LIB.
...
CHRISTMAS
•).(GOOD-KING WENCESLAB.'
(7183 GOD REST YE MERRY GENTLE-
MEN
WHILE SHEPHERDS WATCHED
(GOOD_CHRISTIAN MEN, REA
JOICE to. COME ALL YE FAITHFUL
[CHRISTIANS AWAKE I
7190 HARK THE HERALD ANGELS
SING
ƒCHRISTMAS MEMORIES
PART 1&2
CHRISTMAS HYMNS:
PART 1 & 2...
1736
A
1737
ANDERSON'S.
Powell
Socks
Glorba
Shirts Bags
TELEPHONE 0, 3146,
(Hongkong
Hotel Buildings);
Have Very Choice Belection of
Handkerchiefs (in Silk and Cotton)
Scarves (in Silk and Wool).
Studs and Links
Dressing GowNE
They are the Most Buitable and Acceptable
CHRISTMAS
Kitacho Canon
Hair Brushes
PRESENTS
FOR GENTLEMÉN
THAT YOU CAN MAKE-
Being of Reliablo Qualities they will give Complete Batisfaction
NECKWEAR
Bpecialite with us and we have for This Season a Splended Assortment.
For the1érávamanca of one Customers we are. remaining open Juring this Week.