Money and Markets
CANTON'S TEA TRADE.
REASONS FOR THE GREAT DECLINE.
THE "OLD WAYS" :NOT GOOD ENOUGH.
{FROM OUR CHINESE "CORRESPONDENT. }
CANTON, Feb. 20th. The tea trade of South China in general and Kwangtung in parti- quid? Sa rapidly declining, accord- ing to prominent tea merchant whom the writer interviewed a few days ago. Formerly this was one of Chalon's staple trades," the city being the greatest tea exporting centre in South China. The quan- tity of tea passing through Canton was always over ten million casties per annum, and of this amount than three million tatties were produced in the Tsing Yusu, Hok Shan, Si Hui and other Kwangtung districts. The remain der came from Yuonaz, Anhwei, Fukien, Chekiang, and Kwangsi, but it was all brought to Cantan either for export or for distriba- tion in China, Yunnan has long been famous for Poo Nai tes; An- kwei for Cuk An ten; Fukien for the Oo Loong and Sui Siu tea; Chekiang for the Loong Triang tea and Kwangai for the Luk Po tea. There were more than a hundred firms mostly along the water front in Honam exclusively engaged in this trade.
But the amount of tea now tran- abipped from Canton to the in terior of China is not much more than one million cafties a year. In other words Canton is now doing only one-tenth of its former trade. Moreover, the bulk of ten is not exported but merely tran- shipped to the interior. The trade
HONG KONG MARKET
REPORTS.
Quotations at yesterday's local market for rice, sugar and ather foodstuffs were as follows:—
Eico.
Riue Seal Brewer Red Seal White Red Seal No. 1 Red Seal No. 2 Black Seal Broken Red Peacock
Par Picul. 87.63
Red Bird Green Seal mi
7.88
} White Glutinous .....
7.74
6.63
8.21 5.03 5.55 5.37
For Pical $7.35
7.28. 7.53
Bugar,
No. 19 coarse powdered No. 20 coarse powdered No. 24 coarse powdered
Miscellaneous. Newchang Red Beans Honey Wood Oil Duck's Feather Coconut Oi
Red Melon Seeds
COTTON YARN.
$ 8.20 93.00 31.30
£3.00
25.00 28,00.
PRICES ADVANCE AT
CANTON.
THE HONG KONG DAILY PRESS. FRIDAY, FEBRUARY 22nd, 1929.
SUGAR.
PROPOSED INCREASE IN US DUTIES.
Messrs. Pentreath & Co. have landed us the following letter, dated January 25th, from Messrs. Hornby, Hemelry & Co., Liver. pool:-
Os balance, prices in the London market are alightly lower for-Whites and unchanged for Raws.
More interest has been evinced both in London and New York, in view of renewed talk of an in creased duty on Sugar in America, which has induced short covering and a certain amount of fresh specu lative buying. As far as can be gathered from New Tort advices, Beet Sugar interests in America ere asking Washington to increase the duty to 84 on Cubans, and t seems as if there is a likelihood of the request being granted.
Trade demand in America, has Leen good. A fairly large business has been done in Rawa.on the basis of 2.1/18c, C, and F. for February shipment, and it is reported that the sales amount to 40,000 tons.
Busincas has been done in T.L.P. and T.L.S. at 925/4d per cwt. nett, and in Ready Criches at 10%/ald. f.o.b. A parcel of 9,000 tons of Peruvians afloat has been sold at 9/4hd. Refiners' ideas of Cubans for arch shipment are not above 98./04. sellers are asking es./id.
markets.
We
Eastern markets are idle, and there is nothing yet on which to form any reliable opinion regarding the size of the Cuban crop. Although the Canton cotton yarn feel, bowever, "that, at this level.. market is not so brisk as it was there cannot be much risk in mak this time last year, prices have ading conservative purchases in weak vanced. This was partly due to a Lelegram from Shanghai stating that coiton yarn was scarce and the supply short of the local de mand. At Shanghai No. 13 yarns have increase, about 87 or 88 a bale, ghile No. 32, No. 20, No. 12 and No. 10. yarns, have also advanced. Quotations at Canton on Wednes- day were as follows:-
with foreign countries has been No. 42 Five, Sous
practically killed by the competi
tion of Japan and Ceylon. Of
over a hundred top dealers in Can: No. 39. Pine Deer
these are not doing well.
,་
Butterfly Fui Hee
Per Bale. 8360 528
636
468
ten, only 11 have survived and
Cheung Hec
*454
Tin Koos
436
Growers and Merchants to Blame.
Double Horse
439
3S7
decline of the trade. In the first
Double Horse
338
place Chinese growers have, unlike
Globe
ed to make improvements in any
those in competing countries, fail-
Good Harvest
318
Tin Koon
322
Double Elephant
329
Ng Fook
300
No.
16 Globe........
Fui Kwai
No.
12 City of Gold
There are two reasons for the No. 20 City of Gald
directions They have been con tent to jog along in the old way, entirely satisfied that the tea which filled the cups of the Ming dynasty is quite good enough for today. In the second place the merchants had the "penny wise pound foolish". policy of adulterating high grade. tea with inferior stuff. This un- reliability was one of the chief No. complaints of foreign merchants" and has had most serious effects.
Government Folly.
Peacock
Fui Kwai..
Tramcar
Aeroplane
10 Sailing Vessel
Pretty Damsel
City of Gold
Peacock
$260
204
250
900-
Lion No. 2
198
Lotus Bee
A third big handicap has been.No. 6. Lion the liking levied at every stage of the journey from the plantations to the coast. ne
FLOUR.
"LOCAL AND CANTON.
The United States are not send- South China. ing much four to the Colony and. This is probably
state that the tariff question "is Our New York correspondents causing dull and perrous markets. The distant month is subject to the principal pressure. 150 mills are grinding in Cuba. The incress- ed to seems assured
Cuban centrifugals 90 degs. spot were quoted yesterday at 3.83c. per Ib.
that
We hear from. Amsterdam some of the leading sugar mills in Java will be able to produce White Ingar in the forthcoming season at a little under 10 guilders fas per 100 kilos, which corresponds to 106./3d. cit. United Kingdom, per ewt. The average Java cost price is expected to be about 6d. per cwt. Ligher.
་
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONĖ.
A.K. Banks
FEBRUARY 2167, 1999,
$1245 bay. Dö London... £1444 iä. Chartered Banks £2 bay. Mercantile Banks, A. &B...284) nom.
0.2151 nom.
Fast As Back Renu.190) buy, Canton Claurandes ......$890 nom. Upio Increases 372 by North China ti, mmm
180 buy, Yangaza Insurancos.............. H. 150 nom. Chiks Underwriter „*** 2.35 buy. Okins Fire Insurances....3085 buy. Hong Kong Fire In....$790.buy, 800. Douglas 35 buy, H.K. Steamboats.27 hny,22,28) sa. H.K. Tags .......................311 buy. Indo-China (Pret)$50 buy.
Do (Def.) $90 nom. Shell Transporta......95/7 nom.
Di
A number of tea dealers moved to Hong Kong to escape the special duties levied at Canton itself, but i the difficulties under which ten
· production has laboured have proved too much for the industry.
If Canton's tea trade is to be restored growers will have to adopt due to the poor wheat crop in the "modern methods. dealers will have .S.
to learn that honesty is the best Australia and Shanghai, but not Benguets buy.
Dealers are buying from Union Waterboats....... $221 nom: policy and the Government that rufficient for local demands Kailan Mining Adpain.... nom. high taxes ruin any industry in American four is much favoured. Langista (combined)...... Tls. 14 nora. the course of time,
and owing to the small stock avail-
Do. (ringle) Tla 7 nom. S'hat Explorations, tel.. able, prices have increased.
Quotations for flour at Hong Shanghai Loan T 34 20. Kong and Canton on Wedesday were as follows:
THE DAIRY FARM COMPANY
$250,000 FOR SHAREHOLDERS.
The Directors, report of the Dairy Farm, Ice & Cold Storage
Co., Ltd. which will be presented Five Swallows... to the shareholders at the thirty- third ordinary yearly meeting, tog's Head te held at the Company's Town Cannon Office, 2, Lower Albert Road, on Sword of Kwantai 4.30
Truno Mane
H.K & K. Wharfa.. | EL. & V.Tricks Chin Providentu
17/6
..$1544 mom ....140) nori.
Į So buy., 5.00 1 sel, 6/5.05 sa.
Hongke. Ta. 163 buy.
New Engineerings. The 3100 Shanghai Docks ... [Tu, 110 buy, 112
Canton Hong Kong per bag per bag Man-of-Way ... 84.10 $3.50 Silver Seal........ 4.10
4.42
4.35
3.50 3.75" 3.00
4.74
4.20
3:80
4.10
3:50
4.20
3.58
4:30
3.60
IK
off share investments, placing CANTON MARKET REPORTS.
Bwo Cotions...... Tis,
13.65 bay
137 Oriental Cottons.........TE. 2 zom. S'hai Cottons (old).... T. 10 bar. (new) Th. 85 buy.
39.30
Ja,
HK 4. Hotel
GE. Lands
Humphreys Estate
Bhanghai Landen
HK, Ration
$634 bure.
31430 buy. Tla. 165 bay,
$9.50 bay. $30.70 buy, 20.90
sal, 20 sa.
19 sel.
under review
Thursday, February 28th, at noon. states that the profit for the period after writing of
Вадала
Cheung Luk Maize
$309,633.65 for depreciation, 851,100
$10,000 to reserve against bad and
doubtful debts and providing for
directors' and auditors'
fees,
amounts to $305,286.43 which in.
CANTON, Feb. 20th.
Rice.
E.K. Tramways
•Per
Peak Tramor (old).
cludes the sum of $16,604.79 brought
Pical.
BO
(now)
forward from last year's accounts.Blue.Lion White
810.25
Star Fee *********
It is proposed to deal with the Green Lion White
10.00
Obina Lights
0.75
New Moon
10.00
Do.
Red Peach White
.10.00
Red Seal No. 3
10.08
-0.43
11.60
-10.70
China Buses
buy
10.00
.10.80
Sugat.
above balance of $306,280.43 as Three Marks
follows:-
To pay & Dividend of.
$1.25 per share on 200,000 shares........ Add to General Re.
Ветув
To carry forward
$250,000.00 Blue Seal
Chat Mee Native 30,000.00
See Uni White 23,286.43 Black Dragah Mr. B. Montague Ede resigned Blue Anchor from the Board of Directors on Icaving the Colony. Dr. W. V. M. Koch and Hr, A. B. Stewart retire by rotation but being eligible 'offer themselves for re-election.
CANTON STOCK EXCHANGE CLOSING QUOTATIONS.
CANTON, Feb. 20th. Water Works
... 83.80 Electric Power & Light Co. 4.70
315
H.K. Blectaica (pid)...854 buy.
(now)...$52) buy. Macao Electries".... sset nom. Bandakan Lighta
Talphazer (old)17.15 buy.
Do. (NEW) 201
...$7.05
bay.. Singapore
bore Tractions......11/nor Do (Pre). bar. 13/3 sel China Engar
$14 sel, 14 sa Per Malabon Bugár 20 y
bay. Picul. Caton Icest nome Taels. Cements (combined)...... 9 by
Do
(old)... 7,80 kom
CORTse powdered No. a coarse powdered No. 1. Granulated 10.00 No. 20 coarse powdered
No, L.Befitic Granulated Waichow White ... Reline White
Som
Hong Kong Weekly Press
PUBLISHED TO-DAY.
CABLE NEWS FROM THE NORTH, PUBLISH- EDIN TODAY'S ISSUE OF THE HONG KONG WEEKLY PRESS SHOWS THAT PEACE IN CHINA IS BY NO MEANS A FOREGONE CONCLUSION AND THAT FENG YU HSIANG, THE STORMY PETREL OF THE REPUBLIC, BY MOVING TROOPS INTO SHANTUNG
1
IS CREATING A "DIFFICULT SITUA- TION."
Chairmen's speeches at a number of annual meet-
ings of prominent Hong Kong firms are notable for their restrained optimism. 1928 was a full trading year and the prospects for 1929 are "normal."
Articles and daily reports from our Canton Cor-
respondent and other well informed Chinese" sources suggest that the Leung Kwang pro- vinces are making steady progress with their ambitious programmes of reconstruction. Canton is at the moment perturbed by the appearance of bad money, closely imitating the recent issue of silver coinage.
A-full programme of local sport includes the
trial match of the Shanghai "Soccer" Inter- porters, the Fanling Hunt Chinese New Year Steeplechase Meeting, some unusually “Trill. ing cricket matches and the opening stages of the Colony's Singles and Doubles Tennis Championship.
Buy the WEEKLY PRESS! It will keep
you an fait with present developments, political and economic, in China, besides giving a summary of the social, legal and sporting news of the Colony.
36 Pages-Price 30 Cents.
The Paper with the Familiar Yellow Cover,
(On Sale by all Regular News Boys)
Annual Subscription: Hong Kong, 813; Post Free to any address, 815; Quarterly Subscription, $375.
Orders should be sent to the
HONG KONG DAILY PRESS, LTD., TELEPHONE: C. 12:
11, ICE HOUSE STREET.
"OFFLEY"
Ports, established 1737, are the exclusive
products of famong vineyards In the Alio Douro owned by Offley Forrester, Ltd., Oporto,
known throughout the world as
THE QUALITY HOUSE
whose famous vintages are being Supplied to most of the Crowned Heads of Europe
can now be obtained There famous
from the
Sole Agents:
T. E. GRIFFITH, LTD.
6, Queen's Road. Central.
Tel, C. 8517.
8.40 8.10
Do.
8.20 E.K. Bopen (old)
11.00
- 8.30.
Dairy Fr
9.10
Watsons
Der A Wings, a szakas
80 ala, bay.
Lane Orayfords...
$3.00 nom.
Per ta
Pariz
Brussels
·Geneva Amsterdam
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE.)
RUGBY, Feb. 20th,
194.25
724.815: 25.235
Oilo
Vienna Prague Helsingfors Madrid
18.103 2454 1031
Lisbon
1921 31.295 109 11/19
Athens
2
Rio
Buenos Aires.
12.114
Bombay...
22.05.
Bhanghai
20.435
Hong Long
18.185
Yokohama
$38.903
Pihl
Wm. Powells
24.40 ·H.K. Abras
-HK Cop
$24.90 ∙B'anes
$3.00 ELK Got
24.00
Centon-Hankos
0.30'
-The Sun Uompen
Sincere Company
10.10
Fanchi
Nanyang Bros. Tob.. Co.
- 4480)
Nis How
Canton Tramwa
2.00
donan
China Merthants" "B:B.”
Tientsin
5.30
Kyangsi Wood
·29.20
140 Kwangsl Tea Beed
19.60
Co.
Central Bank
buy-bay
23.
Mitan Berlin Btockholm
Copenhagen
528/32 475/16 1/8
1/11 1/10 8/16 -Silver, spot & forward 25 13/16
DCL
ACT
Distiller's Compo "EDINBURGH
"D. C. L."
MALT EXTRACT
WITH
COD LIVER OIL
Is made from the finest selected Barley and malted with the greatest care ön the Company's own pre- mises by the most scientifle methods of manufacture.
THE DISTILLERS COMPANY, LTD.
EDINBURGH.
PRICE-Per 1 lb. Jar... 81.00 Per 2 lb. Jar... 81.80
SOLE AGENTS:-
GANDE, PRICE & CO., LTD.,
ST. GEORGE'S BUILDING. 2, ICE HOUSH STREET,
Tel. Central No. 185.
Hong Kong.
THEATRE ROYAL
THE A.D.C.
IN
ON APPROVAL'
22nd, 23rd, and 26th February ENORMOUS SUCCESS BOOKING ÁT ANDERSON MUSIC CO. Reserved Seats -$3,
Service Men in Uniform Half Price to $1 Scată,
WOMAN CURED AFTER 25 YEARS' SUFFERING BY SPOO ON CHINESE HERBS. FIVE IN ONE FAMILY RESTORED TO HEALTH.
Mra F. Meinhart, who resided at My boy Edward, aged 17 was 15, H. Street, Modesto Cal, troubled with a pain in his ide U.S.A., B87: For long years which caused collapse when he dla I suffered with severe pains in my hard work. We had to see that he left side that at timer confined me was exempted from High School to bed for days: I was unable to exercises because the pain caused do my work or move goont. Along him to drop out. The doctor said with these camé dropsy and stomach that he had appendicitis and that trouble. was unable to eat very it would be necessary to operate if much without canstag, pain, he expected to be well iguin We and distress. Words cannot express decided to try Poo On Chinese my suffering during these years Herbs and after a few treatments My husband spent thousands of the boy became well and is now. dollars seeking relief for me. I able to do all kinds of hard work. bave been to scores of doctors, without any more pain. inany of whom were rated as Another of my boys, Fred, aged specialists of high standing, but $1, had suffered many years with none was able to tell me what was catarrh and became worse as time the trouble and relieve me. Almost went on. He tried many treat⠀⠀ every time I went to a doctor Iments and remedies without result was advised to have my side operat.but w can say that after taking ed upon or a change of climate for some Fo On Chinese Herbs he was my dropsy and stomach trouble completely cured and has never Fortunately I was not operated been troubled since. upon but my family and I have
My daughter Blanch, a few years pent, years seeking a climate of ago, fell and hurt her side, very medicine that would help me. We severely and since that time she left our home at Kansas and
travelled to Alabama, Oregon and as troubled with pain in her side. California and there consulted and was unable to and anyone or Inany specialises of them States, anything that would help her. The but without avail. I have never had to quit work. A few treat- poor girl suffered so much that she gotten any better during these ments with the Poo On Chinese years of travelling and doctoring Herbs and the girl has been feeling but became worse and more is normal ever since. couraged 4 everything failed.
My whole family Thinking a dry climate would help press
cannot in words its gratitude we decided to try San Joaquin towards Poo On Chinese Herbs, Valley and came to Modesto to re
side. It was here after a time that They have brought. health and I heard of the great benest of the happiness into our home and Poo On Chinese Herbs and the have stopped the seemingly endless great cures accredited to them. At doctors' billa We all heartily ze first Is sceptical and doubtful and have sent many friends to the commend Foo On Chinese Herbs and the bt that they were another Herbalist and in every case they panacea But I decided to 80 have been benefited by Poo On thinking in my distress, that there Chinese Herbs, was a possible chance left, At the
(During this interview regarding time I went I weighed 125 pounds this story taken by a special repre and today I weigh 178 pounda
sentative of the newspaper, Mr. F. must say that the result of taking Meinhart, Sr., was present and Poo On Chinese Herbs must have
been miraculous to me. After tak said "We are glad to tell anyone ing the Herbs I was first entirely what Poo On Chinese Herbs have cured of dropsy and stomach done for thy family.")
Thousands suffering from catarrh, trouble and, after more treatment, the pain in my side left and has bronchial and throat trouble, never returned. I have never felt asthma, hay fever, malaria, stomach better all my life than I do to-day gastritis, piles, fistula, heart and trouble, indigestion, constipation, and I own nothing but thanks and skin disease, eczema, scrofula, ner- gratitude towards Poo On Chinese Herbs and Yes Foo Lun, the Herous cas, insomnia, obesity, Lidney balist
and bladder trouble, diabetes rheu matism, neuralgia, dropas, pyorr After years of suffering and after hea, epileptic fits, paralysis, the enormous expense of travelling tumours, aloers, pimples, family and the endless doctors bills, there trouble, dizziness, headaches, and is nothing that I can do but speak many other chronic diseases, heye good for the Poo On Chinese Herbs been restored to health and happi- and heartily recommend them neas, without poisonous drugs, or Four other members of my family the knife by the Poo On Chinese have also been cured by the Poo On Herba Chinese Herbs, which caums me to endorse them more strongly. My husband was suffering from á sóre
THE POO ON HERBS CO. YEE YOO LUN, Chinese Herbalist troublesome, and as he was a heavy Modesto, Calif,USA Emoker we believed that it was Kong Office: 86, Queen's turning to smoking cancer. He Central, Office Hours daily complted the herbalist and was to 12.00 pm, 2 pm to 5pm. given iome remedies and be was Evening Hours: 6.30 p.m. to entirely cured and the sore has 1 pm by special appointment only.
European Lady in Attendance,