FLOUR AND WHEAT.
NEW LOW RECORD REACH- ED THIS YEAR.
PRODUCTION
FAR EXCEEDS CONSUMPTION:
The flour business. in Hong Kong is experiencing a very bad period, according to a large firm dealing in this commodity. To understand the position in Hong Hong, it is noocasary to review, very briefly, the world position, of both four and wheat.
HONG KONG DAILY PRESS, TRADE REVIEW, WEDNESDAY, DECEMBER 31, 1930.
SUGAR TRADE.
LOCAL MERCHANTS NOT.. BUYING.
RESULT OF CONFERENCE WATCHED.
The sugar trade has been hit just as much as any ether trade by the world depression in business gon
érálly.
Cuban and Dutch delegate. bare During the past few months
hold conferences with a view to
THE PAPER TRADE.
MANUFACTURERS. FORCED TO REDUCE PRICE:
BUSINESS RESTRICTED.
According to ong of the largest deaters in paper in Hong Kong, the paper business in the Colony has been most disappointing for the rear 1930, especially Ledger Paper, Bond Paper, White and Tinted M/G Cap
The steady drop in exchango throughout the year has had the effect of holding up buyers, so that manufacturors, Dealers, on the whole, did not care to book at the low rate of exchange.
PLAYING CARDS.
HONG KONG BUYS FROM GERMANY.
AMERICAN PRODUCTS
NEGLECTED.
"In years gone by, the United States practically enjoyed a mono- boly have in playing cards," said a dealer to a representative of the Daily Press, when, taked about de! mand for playing cards during the
year.
The dealer explained that owing to the drop in exchange, the little retail shops have been forced to sell No attention is paid to the quality of the price, as local experts ap- parently do not care to play with expensivo en, da of American make, especially when a gold dollar is worth a little over three Hong Kong dollars.
The attitude of Hong Kong card
ECONOMIC MISSIONS
BIG PROBLEMS TO
¡CONSIDER.
Some months ago, a German busi- ness mission toured the Far East seeking, outlets for their trade. A British Economic and Canadian Mission are now in China and the Americans are talking about a similar investigation.
CAN THE POWERS HELP CHINA?
SOME REFLECTIONS ON THE PROPOSED SILVER LOAN TO CHINA.
PENALTIES ATTACHED TO BOYCOTTS AND TRADE
WAREFARE.
If, as Marshal Chiang Kai Shek believes, China has fought her last civil war and national unity is now
The Nevada Senator and his
colleagues attributo the silver stump to the efforts of Great Britain to
ounces annually but there remains
Since the Great War, Tussia has in sight, the time is not far distant establish the pound sterling in ceased to be customer, closing a when rent reconstruction can be India by dumping onto the world. market of 100,000,000 consumers. commenced. The mere fact that market at any price silver that has China has drifted into chaos and pence has been restored and that Uren hoarded for years in the the purdissing power of its the defaulted interest payments on interior of India. This dumping. 450,00,00 prople brought to the several of China's loans have been he says, approximatee 67,000,00 ese investments, no new capitol line come into the country in eighteen couraging effect on China's credit in India between five to seven cara for development purposes. abroad. The prospect of permanent | billion ounces which will ultimately India, with its 330,000,000 people, peace and revival of trade in China, be unloaded on the world market. has built up its textile, iron and steel industries to the point where is one of the bright spots in the This continued dumping has caused it is no longer completely depen present world depression, providing the abnormal fall in the value ot dent upon Great Britain.
Russin and China with their come opportunity for launching silver and China has been the bined populations of 600,000,000, several schemes for her financial greatest sufferer. one third of the world's total, are rehabilitation. Foremost amongst
Generally speaking, there was too placing a restriction on output but much atock in America during 193010 agreement was arrived at and very few orders were placed with cheaper cards made in Germany. vanishing point. Outside of Japan met," has already had a most, en-
the growers in Java, up to the time of writing, have not agreed to re- strict. As a result of the depression the trade between Hong Kong and Java is negligible and imports have been at their lowest, rbb during the past few months.
as compared with former years. The purchasing power of European and Oriental countries was decreas. ed during the year so that stocks began to accumulate, which led to prices being gradually cut down since the beginning of the year." In May, the price touched the lowest
Information arriving in Hong
The sterling price, of M/G Cap, neawprint, and sup./Capt. Printing has been reduced, by 18/30 per cent, but, in spite of this, the rate in Hong Kong dollars for these
In this connection it is interest-
record since 1914 but it has gradual-1 Kong recently showed that the papera was higher than in 1923 and players has affected the South not buying as they did before the these is the proposal of the Silver ing to recall that the Nationalist ly improved, although the improve sugar merchants in Java have the reduction in price did not com- China market, for Kwangting pro- War., India is exporting textiles. Investigating Committee of the movement réceived its first impetus
ment is but alight.
suffered considerable losses recently Other reasons for the drop in price due to the depression in trade, is the fact that the Indian and As for as Hong Kong is concern- Australian four yield was ruched, the demand is very limited, Bigger than in former years. The because, owing to the exchange,
business was recorded.
vince had, in the past bought a good quantity of playing cards from Hong Kong. As Hong Kong has gond to Germany for cheaper play ing cards Kwangtung has followed A recent canvas of the Hong
suit.
In the meantime, Japan an in
Scoaleto porting antion before the War, U.8.
Trad China now an aggressive industrial ginis 500,000,000 ounces of silver through supplying its own requirements and competing with Great Britain, the mediam of an international markets and world carrying trade. Pittman follows the anime general Germany and Amin for world pool. The plan outlined by Senator Russia has embarked on a“ pro-
which for a time was seriously con- gramme of industrial expansion lines of the schen propostil to which if only partially successful, President Coolidge in 1927, and of dollars to clothe, feed and house
sidered. The plan was to send a Men to Chitin to talk with the Commission' of American Business
pensate for the drop in exchange. Dealers were not inclined to stock ng they had been continually look for the rate of exchange to im prove. As a consequence very little Canadian and American efforts to dealers are holding off as much as maintain prices proved unsuccessful possible in order to avoid a deal Paper has been practically at Kong market showed that there is till intensify the present world Business in Ledger and Bond
with the result that Canada sold in sugar brcoming a gable in ex-standstill and dealers are not no inquiry for American cards owing, trade deadlock, and menace the large quantities of wheat at cheap change. Purchases, which have anxious to order until practically to high prices. American card prosperity of the older industrial prices to Europe while America held materialised during the past two donuded of their old stock, prefer- manufacturers are reluctant to recade, will be a profitable market nations. China, for the next de off, because farmers would not sell months have been spasmodic trans ring to pay the extra cost of a at the low prices prevailing.
requirements rather than pay the ing cards with the result that the factured products, but in time this To add to this unsatisfactory state
high price prevailing at present at future, for American cards is not country will also take its place as of affairs, the Russian wheat export
the Hong Kong end of the basiness.
an exporter. bright." for the year was also a very big chô, the wheat being exported mainly
it is gratifying to record that to Europe. While these large i*- ports from Russia hade no differ.in spite of this unprecedented
in 1925 through the South China. boycott against Hong Kong and British goods, causing innence
The Kuomintang leaders in Canton losses to British trade and prolige,
the boycotters and strikers during cheerfully paid out several millions
the year or tors that the movement dillance with the Soviet, to conden we in full force. Bibed then, in
actions which were put through cable to replace stock for immediate | duce the high quality of their play for certain lines of Western matt warring lenders and induce them trated its activities towards rutin-.
probably because some dealers were trying to dover forward commit ments.
4
depression na failures locally have
CANNED GOODS.
Some of the bigger clubs in Hong Kong still order American cards, but as these are in the main stamp ed with the name of the Clubis, they
vate Clubs in Hong Kong, however, is negligible.
Russid, ne an outlet for the major lines of British, American and German manufactured products, will be closed in a few years. We have waited too long in recognizing
to stop fighting and unite under ing British trade in this country, some forth of central government
tháián silver. that could be financed with a loan large enough to provide immediate employincht for the disbändel
If we were given to moralizing, Lit would
be easy to point out that the so-called capitalistic nations"
dice in the entlier part of the years been reported. Dealers in sugar | BUSINESS SLACK FOR 1930 volume of business provided by pri- back on their own resources and transaction would have to come by military force and if. Great"
are commercially valueless. The Moscow, throwing the Communista soldiers. A any such financial have ways of retaliating other than
in September/October/November it affected the exports from Argentine are still holding off, waiting for the
and Australia,
As far as consumption in the Orient is concerned a very limited business was dino in China, this Being due in part to the uncertainty of the political situation and also owing to the higher customs duty to
inland cities.
result of the Cuban-Dutch confer chee. Another meeting of this con- ference is duo to be held on January & when it is expected a fiiial débilement on the question of restriction of crop between the parties will be definitely arrived at.
The figures up to October show Coming to business in Hong Kong, the quantity of sugar imported into the position is that the stocks kept Hong Kong as 171,710 tons as com locally are enough to moot demands pared to 145,100 tons for the same and consequently there is not much period last year. The price of buying from abroad at the moment-augar, however, has depreciated During the year prices generally materially, dropping from have been lower than in 1829 vicinity of Guilders 7 to a little Canadian and American flour_in most popular in Hong Kong. The over Guilders 5 per picul in the last Chinese buyers are partial to cor- few months. Notwithstanding this, tain branda and the popularity of however, the further depreciation in Canadian and American four is to
the
sume extent due to the fact that the value of the Hong Kong dollar they handle several wall known is sustaining the price of sugar in
brands.
Australian dour Blended with Hong Kong.
Russian flour finds a ready market here because the Australian variety
*..
Business in canned goods in 1030 has been very slack due to the ex- exchange. Local dealers find buyers very hesitant in ordering canned goods as fresh goods, both veget. able, meats, fruits and fish are available in abundance in the Colony at much cheaper prices.
(Continued on next Column.)
|
Recent statistics from the United States show that business in tinned salmon and sardines has fallen off considerably although the very cheap brands of sardines are still enjoying
hig salo
DIRECTORY
AND
detibes. They are now placing into under the Consortium Agreement #
practice their idens of state, con- trolled industry and agriculture, and bring Great Britain, France and will develop into a formidable and Japan into the mission, the and malevolent competitor. Unless
scheint, was dropped. Chine can be pacified; blostered up from the outside and brought into an orderly consuming line as nation, the present world depres sien will continue-Far Easter
Review,
CHRONICLE
CHINA, JAPAN, MALAY, STRAITS, SETTLEMENTS, BORNEO, ŠIAM, THE
· PHILIPPINES, COREA, INDO-CHINA, NETHERLANDS INDIA, &c.
An insight to the situation of the
INVALUABLE FÖR FIRMS
TRADING IN THE
TH
is too white while the Russian flour sugar market in Jara can be gained
is too black. They blend very well by the fact that it is reported that
together and a fairly profitable busi sugar producers are supplying ness has been done locally in this line.
sugar direct to restaurants and
The following table of estimated whont production for the year 1930 and 1031 is interesting:--
buffer shops at sacrifice rats to do away with the middle-man. This is due to the fact that there is so much surplus stock that some channel, however small, has to be 1030/1831. 1020/1030, sought is an outlet for the sugar. Brushels. Brushels. 1
WORLD WHEAT CROPS. Preliminary Estimate;
Canada......
United
50,000,000 37,440,000
States 105,500,000 100,114,000 LEATHER TRADE. Australia. 24,200,000 10,810,000
Argentine...... 30,000,000 17,204,000
Indi: 48,314,000 40,001,000 Eurone (Incl.
Other
Russia) 261,845,000 277;278,000 countries 33,989,000 - 35,866,000
.556,818,000 825,603,000
FIRECRACKERS.
!
NATIVE PRODUCTS ON THE INCREASE.
UPPERS FROM AMERICA.
Inquiries about the leather trade showed that locally manufactured goods made from Chinese leather found a ready market both in Hong BUSINESS UNAFFECTED BY, Kong and Kwangtung province. A
very large turnover was recorded.
TRADE SLUMP.
Admittedly, local leather is by no Exports to Java and U.S.A. ́ dur- means the equal of foreign leather ing 1930 for the festivo seasons con- either in appearance or durability, tinted unabated notwithstanding but the price is so much lower that
trade. adverse conditions in
be buyers will not look at the imported
Firecrackers may,
timed as a necessity, rather than staff although both in workmanship
u luntry, despite common belief to the contrary |
The recent U.S. Lariff charged.
and design the latter is far superior.
Leather for shot uppers was im-
affected only the larger sizda of fire ported in fairly large quantity this crackers, which are manufactured
in the USA, and local business roar, 18, up to the present, the
ung 1931 should remain unching Chinese have not been able to
ed
EXTREK MOTORI Parition during the
period under review resulted in Amorluky, uppofa, AY PAY smaller profita bit, in the mam fairly large stock of uppers was im vily those specialising in this trade did business as the importance of ported during the year, but the special knowledge as to the handling same cannot be said of sole leather of this commodity, can only be bom which comes chiefly from Canada, pared to that required in the sille business
Australia and Germany.
FAR EAST.
NEW FEATURE:
Classified List of Trades
and
Professions for whole of
the Far East.
+4
CHROKMOLE
A
UHINA, JAPAN,
MALAY, STRAITS AZENLEMERIS, LDASEE, SAM, 142 PHILIPPINES ZOMBIE INDU CRIME, TABULE_ANAS 191,62
In which is included:--
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1862.
Revised and Complete.
Alphabetical List of Residents in the Far East, containing the names of over. #1,000 Föfelgúéré. Alphabetical List of Firms. The Chronicle savers the notable evanta togötler with the texts of all the most-important Treaties, concluded with the countries of Eastern Akik, the various Customs, Tarilla, Trade Eegulations, Chambers of Commerce, Boston of Commissions, Tables of Money, Weights and Measures, and ottier commercial information.
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éopies of the above for the current year.
Pleass
United States Caution.
Britain had deliberately set out to even up the score with China, she could not have found. 3. mora efficient way to revenge herself than by manipulating the silver exchange
In other words, it is realized into the disadvantage of this country. the United States that any plan The Kuomintang, or the National- for the relief of Clina which is Government, nearly wrecked. involves a loan must be Inter-Hong Kong and British trade with national in character. Many other China. A few years later, Great Britain through India, cuts the wise meritorious Americah schemes. have had to be abandoned because wealth of China in half and reduces of the reluctance of American it to a state of bankruptcy. The bankers to assunte the sole burden moral is that boycotts and trade of financing China, and the opposi-wars work both ways. China gcored tion of the Chinese to any prohor +ictory over Britain and is now position that might imply even paying the penalty. When the indirectly a recognition on their British Government protested time part of the Consortium Agreement and again against the unwarranted or their ability to solve their interférente with its trade, it was problems without outside assistarice, politely informed by the Chinese The League of Nations, the authorities that they could not Ingical international Instrument forcntrol the patriotic protodis ́ of helping China get on her feet will its people against her imperialistic not initiate any plan without this policies, etc. Yet the day arrived assurance Beforehand of American when the Chiness Minister to the support and the League officials are Court of St. James had to he not enthusiastic aboilt accepting instructed by Nanking to make re- task whost success hinges upon the co-operation of a non-meither state, especially when the government of tlaat státo has crented its own
presentations to the Britids Govern sent in the bitter of Indian silver sales and their adverse effect upon the currency and commerce st
instrument for fintubing China, China. In the first Blush of its chtluslasin, which it had Great As long as China is, without Britain du the run, the Kno strong central government and matang never thought that the her fiunpees and currenty reinaints might be tilfried and China in a chaotic state, American bankrolight to the verge of ruin and forced to ipped to the friendly ere will decline to shoulder, the unces of "Imperialistic Britain sole responsibility of any large for relief. Naturally, the British Juan for rehabilitation, or other Government cannot dictate to the purposes. Any achenie for helping lundreds of inillions of its Indian China that involves American subjects what they shall do with operation will have to be inter-their Hoarded wealth of gold and national in chardotor.
Sliver and I We value of the So tre find then even in the pro-Autter is now reduced through the posed silver Joan sponsored by salillation of the fuper, the rest Senator Fittman to relieve the of the world must expect these silver producers of the United people to keep dumping their silver. Blate, the Interiktional plicible hoardings on the market. If, as Hag been recognized by ddvocatlig Senator, Pittman points out, this, the formation of a pool including harddu #ealth approximates five Great Britain, France; Jepih, to seven billion ounces of silver, and México add Child
the people of India kup vit unload- Jug auf alter loan ts. China, to Stabilize the exchange, would us only a tediporary expedient, calling nd against Bonitor. Piktnian's plich; | för skolber billion ounces within it must be adiditted that be ffis the next year do pgilla stabilizo EX- very accurately gunged the fuñ88- | thange and so on, until India's; mentals of the present situation in hoardings of the métal are replaced · China, khich he stitmäfixed di with gold, follows: KRONE
In the face of such conditions, no (1). The Natiuial Güvernment of American group would be foolish Nanking is the best they could be enough to attempt the impossible Establishičil, as far få tråding puf. | without the full er-operation; of Poses T8 bonoerned
:: Great Britain and other nations **(3) The warfing factions in China baving important commercial re- ars fighting only the administration and not the plang of the Govern met og ta on to von
of Chinese Position: Whatever iticism may be difobt
• (3) à unable
* ́ ̈ (4) If the warlords enter the pro postél. Eöblition Government, til figħbilig Will Gčako,
** (5) The soldiers, are, footing At preacht ag the easiest way to obtáin food.
lations with China. It would seem that in the present situation, Greát. Brital holds the trump cards, bus cannot prohibit her Indián šubjects ↑
e dos of its own medicine adminis- teroik în exactly, the sdum hiánner be it forced the bitter dose a few. yenta ago upon Great Britain The biter Tag been bit. CB.R. In the Far Eastern Review