THE HONGKONG TELEGRAPH FRIDAY DECEMBER 31 1900
REVIEW OF HONGKONG
TRADE IN 1909...
BRIGHTER PROSPECTS FOR
SHIPPING.
RECORD PRICES FOR OPIUM.
A BOOM IN RUBBER.
SUGAR AND RICE STAPLES STEA
EFFECTS OF THE LIQUORS ORDINANCE.
As'Lord Rosebery in a famous utterance de clared that the Nile was Egypt and Egypt was the Nile," so we in this Colony might wall say that our Harbour is Hongkong, Hongkong is the Eubour. At any rate, lo taking up a review
RECORD FRICKS FOR OPIUM.
low the very low price at which they closed this time last year, an SILVER..
The extremen of silver quotations during the your wom zijd per oz. lu. May and 23 1/id. in March and during the week, October-Novem ber, while the Bank's T.T. rates have been 18 ofd, and 17, Bajtód. per 5, respectively. There has been comparative atability in the prices of
·bar silver; the fluctuations have been small, la deed, when compared to what they were during the past eight years. Eliminating the specula tive element, India and China as usual were the jofluencing factors determining the ran and fall in the price of the white metal whore prospects for the coming year, in view of the promising tradal outlook in North China, show -a hardening tendency.
SHIPPING.
carriers.
...
*A CASUALTY.
"NOVEMBER MARKET FIRM.
483
the rap daring the sexton; while, on the other at that the dont would be still farther in sugar freight in return. For the rest of the band, these six steamers had no longer to be creased. Yangtech freights, which had looked month rates did not advance, notwithstanding reckoned with in the Saigon trade, etc., and its promising a short while before, were now that a strong demand for tonnage kad pai lo an was anticipated that rates in general would be practically dead. Coal tonnage remained to appearance and it was solely attributable to the favourably influenced by the occurrence. Dar-good request, though, naturally, rates suffered scarcity of vastels and the extreme difficulty: Ing the remainder of the month, however, raten somewhat in consequence of the slackness of that owners were experiencing in making both generally were far from satisfactory from the freights generally and the greater supply of ends mest, that numerous Inquiries especially: owners! point of view, and the Saigon' trade was singularly inactive for the time of the
emanating from the North, could not be Elled CONTINUED DEPRESSION, vesz. Newchwang-Canton had two farther
locally. On the Saigon to Hongkong market During the first half of June the freight there was still next to nothing doing, the pro- charters, whilst egal tonnage from Japan was market presented no fresh fastars of import spects of putting a vossal on the barth being so extremely scarce, several Moji Hongkong loance, business continued to be restricted, and poor that some regular liners were compelled quiries, placed on the Laudod market, being rates remained below the profitable mark. The to look for employment elsewhere. Towards: unresponded to,
same wask feeling prevailed in connection with the end of the month the offering of freights: A' BETTËR TONE, "
the Saigon Hongkong business and the freight was a little more "free" from Saigon' owing to rate receded to 8 cents, on which basis one of the Kwangtung rice crops having suffered bad- prevalent in the freight market, owing to an few charters were offacted for the Saigon-Phi- very satisfactory rates-two: for the Philipping
With the advent of May a bolter tone was
the steamers regularly trading was settled. 'A fly from floods. Charters were fixed up at not Increased demand for tonnage both in the lippines rue, at rates showing a downward business, one for Java sugar, and a few for the South and up North and judging by the sum tendency. Two vessels were chartered for the Newchwang-Cantos trade. Coal tonniego" was During the last two years the local shipping bar of Inquiries set on foot it was evident that Newchwang Canton run at 24 cents per plcul, practically unprocurable... markat has been largely overstocked: there the protracted period of depression, which coast part cargo, and others were inquired for at the have been more ships on the coast than the shipping had passed through, was coming to same rate, whilst some demsud existed for ton- trade demanded. But fo the natural course of termination. The Salgen rice trade, too, had aage from Newchwang to Amsy with the result gret to have to report the total fore of the well In reviewing this month's shipping, we re-' events those bottoms which have been lying Armed up, and the rate bad increased to 15 that two carriers were engaged at about sa known coaster Norwegian us. Asgar which itle or only sparsely employed at law freights cents. From Saigon to Singapore one charter cants per gical, Northern freights, Yangtze went ashore on Money Itland-Paracels-on a fent. While touching on this subject, li may trade in the Interval, and to consequence the Newchwang-Canton charters were booked at Coal was steady. The remaining portion of with a cargo of timber for Shanghai. The have one by ons besa withdrawn from the coast was fixed up at 1st conts per picul. Two business in particolar, continued unfavourable voyage from Slogapore to Hongkong, landed also be remarked that a consummation devout freight market is now on a more equable-foot 13 and 24 respectively, two Saigon Philippines the month of July, was worse than the two ship was abandoned by the crow, evidently ty wished for by European merchants in the ing as regards, supply and demand. establishment of an Imperial currency in China bave stiffened for the North, whence has come several steamers were reported closed at 13/14 market continued to be vary feable and less receipt of the news, the Danish salvage vessel Rates settlements were reported at 25 cents, whilst wosks that had gone before. The freight owing to her dangerous position. Upon to replace the present system which to all ap- the best of news regarding both the rice and cents on the Salgon-Java zu. Yangtze buil-business was done. The Saigon-Hongkong Protector was despatched to the scans of the of trade in the year which closes to-day, it wouldpearance is subject to the whims and wishes of bead crop and several fixtures have already been Dess was very lively and Northern freight rate advanced to II canis, but the law stock of wreck, and after taking dus observation as to not be justifiable to discuss any branch of the viceroy who rules over any particular pre placed to cover the rice exports from the Yang- generally were favourable. Coal was steady grain in the French' port' prevented charterers the possibility of reflɔating kør, it was conclus business without first giving consideration to vince in the Empire.
iza walley as well as the vast bean produce of with rates showing ng upward tendency. As from going in for further operations. In theed to start operations. However before there the shipping which forms ths backbone of the
Manchuria. According to reports from Safgon the month progressed,, the former overplus of Saigon Philippines direction, two fixtures were Colony's constitution. In this direction, un- The course of the opisina trade has been on snd Bangkok the rice crop in their respective tonnage entirely vanished and demand began made at 23 and 24 cents per picul, respectively, the scheme, bad weather set in and the Ragnar was ab opportunity of putting Into operation fortunately, the local freight market was any extremely toroous one for the past twelve territories bas been exceptionally good, whilst to excent supply. The Indo-China S. N. ro.but there was no further business reported. A was lifted by a heavy swell and foundered. thlag" but "favourable at the beginning of the months.. Those in a position to explain put it Java sugar continues stable and the Manila and the China Nvigation Co. (being both wall Canton-Newchwang charter was done at the year and though it experienced the usual rusb down, partly, to obstructive restrictions and product promises not only to keep well up to provided for in their own sphere up North, slightly improved rate of 244 cents per pleut during the first quarter, with the opening of vaxatious regulations promulgated by the the standard of former years but to surpass there could be no question of these two fisets the Northern parts and later on with the Central Goreroment and which are rigidly anything that has gone before now that the interfering with other buriness, so that "aut»,
Coal remained steady. coming of the new crop of rice from enforced by the Provincial Viceroy's who, in Hongkong reficeries are agalo in full swing, siders" aktér a long spill af adversity found Siam and Indo-China, there was agentura, see to their effective operation by the dis. Certainly, the state of things to-day is incom-themselves in demand for employment worth eral · slackness throughout the middle of the trict and prefectural magistrates and yamed parably better than it was a year ago and consideration. The Saleon rate rose to 17 cools, year, and it was only towards the close that subordinates. The drift of the action on the part within the fast month or two the freight market Several loquiries for the Seigno-Singapors run sa upward tendancy became apparent for for of the Chioare Government le, according To has Improved much is favour of ship owners ward dates; but this upward tendency is be- competent opinions, towards the formation of A and agents, who conddently anticipate a con-
were not taken up, as owners were able to fod more profitable employment up North, The tavad both by shipowner and charterers to be Government monopoly for the purchase and tinuance of this good streak well into the now
new rivals of the North German Lloyd, before a stable one for the incoming twelvemonth, sale af opium to the exclusion of British and year with few or no idle vessels lying on their alluded to, bad the first twn of their six charter. and many fixtures, bare already bean placed by foreiga merchants, Good grounde extat which hands.
ed boats loaded at Bangkok for Hongkong. the big firms as well as by smaller investors,uumistakably poist to the correctness of the Though the rice crop in Kwangtung and aspartion. Another reason to account for the
Several Newchwang-Canton charters were fixed av at 30 cents. From 'ubu to Swatow Kwangeni has been damaged by
fact of the exceptional condition of the eplum
and Canton, tonnage was eagerly fuquired for market during the yaw just closing is to be
with the rate standing at 32 to 23 cents. Coal to the extent of some 40 per cent, the crops in found in the speculative tendency o much is
freights continued firm and tonnage wat as Siam and Indo-China are reported to be ex-evidence among the Chinese dealers here in
scarce na aver. It was also worthy of note that callent in quality and bulk, so that there must Hongkong and at Shangbal from about the
two Scandinavian steam-ors-had-been-taken up be an incrested demand for outside carriers middle of October last onward. Speculative
far short terms by Haiphong abippers, who had 'from these countries to Hongkong, and purchases, which enhanced prices in the dent
decided to carry out a boycott against the three Japan. will doubtless apply it quota to ask of November to their record Ilmis, ware
shipping companies hitherto monopolislag the the deplenished-Canton stocks. As raised on the reported wholesale curtallment of
Haiphong trade. gards the baan' and bsan-cike trade the area under poppy cultivation In Yonnan from Vladivostock and Nowchwing, advičés 10d Szachus. With the exception possibly of say that the crop,is abnormally heavy, but it the troublous times of the Taiping rebellion has largely-almost wholly been bought up thes opium fetched as much as $3,000 a cheat by buyers to Europe, and as carga dulwards is in. Nanking, never in the whole history of the not ally procurable the big fro'ghters out opium trade in China has the commodity com. Fast will be is much demand for the home-mluded the price that it did in November ward trade and rates must necessarily anbance, last when the Patra article was quoted as much whilst the devotion of these vensis to this* $1,615 për chest. The reaction has brauch of trade will naturally give greater since set to and for the same aplam the closing scope for the smaller carriers, so that the quotation to-day is $1,430 per chest. On the freight merkes should continue to be very solid whole the year has been an extremely profitable throughout the New Year-certalaly much one for all engaged in this particular branch more so than it has ruled during 1999. So of trade. The gross value of the Importations fat as the import trade is concerned, the leading of opium in 1909 is estimated at between shipownem bare declare that there is a slight thirty and thirty-five million dollars. but not very appreciable improvement, evinc-
The poultion of .- ad substantially by the diminution of busi«
TRYKOONS AND FLOODS
ness done by the Wharf and Godown Company. Another fact which went to show the state of the market was that a number of ships loading out from Europe had to seek fresh ports for the discharge of thair cargoes apart from the older treaty parts, whilst there was also a difficulty to filling alipe on the old coasting trade routes. A consider
THE YARN MARKET
may be thus briefly summarized: Although sales during the year show no improvement over those of the previous twelve months, the trade, as a whole, so far às Hongkong is con cerned has been remunerative,
י
FLOUR IMPORTATIONS, *
FROM MONTH' TO MONTH
*
COAL A GLUT IN THE MARKET.
For the first half of Navember, freights con- ¦ tinued to role firm and a very much larger JULY ANOTHER BAÐ MÓNTH..
business would have been done but for the With the incoming of August, the freight difficulty to meet inquiries. Tonnage remain- market continued to be very feable with no immediate prospects of a change for the better charter business went, charterers offered such
ed very scarce and, especially as regards time- - The Salgon-Hongkong rate remained at low rates that it was difficult to concinde fix. cants without any fresh business being done Three new fixtures were made. In the Saigon Sonthera rice ports had remained exceedingly tures. The demand for bottoms from the Philippines direction, and at 24 cents, one at 35 stack, Saigon silll standing at 8 cents. Northern cants and the third at a cents-all for dis-busionis continued very firm and prospects for charge at one port. There was alan osa Sal the near future were regarded as good." Ton- gon-Singapore charter at 11 conta por pical, cage for coal freight from Moji remained ux- For our detailed account of the state of the
For the Newchwang-anton trade two vessels caedingly scarce. As the mouth advanced, Hongkong Freight Market we are largely in
were fixed at 143 cents par pical, bat owing to matters did sat much Improve, debted to the penedical report issued by Messrs
a rise in the price of bases in the North there no actual charters for the Saigon-Hongkong There were Lambke and Rogge, abip brokers. In the early
ware no more orders in this direction. Daring trade, the liners scraping together what they part of January an insignificant amount of
the rest of this month the market remained in could get at 8 cent. For the Saigon-Filip»: chartering took place, mostly made up of fix
the same deplorable state, but there was a few pines run tonnage to suit charterers was di ares of tonnage for coal requirements. From
fixtures for the Java sugar trade Saigon the centre of attention, at that period of
cult to obtain, only two steamers being placed- the year, bad news came to the effect that the
Regarding coal freights, the heavy supplies North concerning freights described a work”, at ag cents per pical. Reports from the rice crop was far short of anticipation owing to
received during the preceding two months badness of rates, and notwithstanding the demand disastrous foods; whilst the Bangkok 'rice-
THE LIVELY NORTH,
led to a glut in the market and the demand for for tonnage the rise of freight rates has not folds also suffered from the floods and to such an
Although freights in the South bad shown alonnage hed consequently eased off for the as likely to be required. This necessarily led thera trade had more than made up for the de-for some time at $a.zo, declined to fa and inter the South had yet come into the market. As extent that outside tonange was not considered, stecking-off towards the end of April, the Nor. time being. The Moji rate, which had stood maltained. At the end of November no demand for toneage for Yangisse loading for to increased activity, from the Yangtze, where ficiency, and in consequence of tonnage getting a suitable steamer secured St.6c, but after this regards coat freights Extures bad been more the rice, crop was good and enkarmed, and the big companies regained a firm hold of this Yangiers and Newchwang southwards to only 51.50 was on offer. Some inquy, which numerane, but tonnage, especially of biz car. trade, which had been endangered through disproved farther, being on the 1st of May 30 per agreements with the shippers. As the month cent, better than they had been a month pre- nage to load coal in Borang for the Philippines. proceeded, however, the Saigon market proved visus. To consequence of the rice market bend, Hugkang. One fixture was mad about the same scale as in the preced pot altogether maremunerative, and charterers coming sluggish, charterers reduced the Saigon bring Manchurian coal from Dalay to Hoping fonnight, with rates slightly better la secured tonnage in Hongkong to the extant of Hongkong rate to 14 cents. The rate war kong at $2.10. The freight market touched some 33,000 picols, wbilst a few steamers were fixed for the Saigon Philippines trade. The Slamere Chinese combine, now becao la euro. between the North German Lloyd and the rates secured from Hongkong to Salgotest, the former company booking cargo at 15/22 ing from 13 to 15 cents-were a fair ladex of cante as against r8/14 cents formerly. New carded. For the Salgon-Philippines trade a the state of the Iraight market. Thiogaslightly chwang had several fixtures for Cantos, the Saigon Java Axture was closed at a cents highest rate on record since 1904. The Wahu beginning of the mooth was the Armasss of improved toward the end of the month and a last one on a baris of 33 conts per picul-the|ward teadancy. The only hopafat siga at the } for by the rice crop coming earlier than was,
Canton trade conilnued strong and more ton. the local sagar market and the fixture of two getting rid of their old stock as soon as possible,,
per pical.
A SLUGGISH YIBRUÁRY.
i
scarcer and scarcer mates of freight from the
nago was asked for the Wahu-Swatow and
anly $1.75 was offered, For Hoagḥong-Canton
came to nothing in the end, was mindé for top.
LOW WATER MARK
to 8 cents per pical and no. fixtures wale. in September, during which month it want from bad to worse. The Saigon rate receded
few charters took place at rates showing a down
more vassals saomed to. Indicate, that more
riers remained scarce during the
FIRST HALF OF DECEMBER the volume of business transacted was bu
some fustances. At the middle of the month
Saigon again cams to the front with lequirios there was still a certain scarcity of top felt and a good many inquiries for freight re- malued uoanawered. Against all expectations for prompt loading. This may be accopets! $xpected, thus making millora desirous of
as well as to the fact that the rice crops of the
...able, aumbar of vessels which had' formarly amounting to no less than 900,000 bags in 1999 This state of affairs was attributable to heavy with no steamers obtainable. Towards the business lo rica had been prophesied as being of loading lo' ballast. The lower price of grap
There has been a serious falling off in the importations of American four Into Hongkong, been employed in the Far Eastern trade was when compared with the starletics of the previous fald up at Home owing to the difficulty of pro-year. An for Australiao four it was wholly coring payable cargo. Regarding Homeward eliminated from our returns of imparts during the past twelvemonth, owing to the ready sale which Australian wheat fetched at re-
buslogia, there was a very
FAIR EXPORT FROM CHINA
teze freights a few charters have also buen
With the advent of February, it had been Wahs-Hankow trade than could be obtained. tonnage would be wanted, iqter op. Coal Capton River valley had been seriously confidently anticipated that there would be in coal freights $2.10 was offered from Mojl to freights were slightly better. During the latter damaged by the floods. The regular linere signs observable of the Salgon rice trade Hongkong, but evet at that enhanced rate half of September the market did not improve being unable to deal with all the trade rates, broadening out, but up till the end of the first charterers found it impossible to secure ton in any way and fixtures werp low. There was Jumped from 9 to 14 cents, but even at that rate wack of the month not a single order was traceable for any prompt or forward · dates.
Bare. The Moji-Singapore rate stood at $3 so demand for Saigon rice and consequently toge was procurable, as the price is not and the Wakamatru Canton rate at Sayo na new charters were placed. A fairly large payable for a vessel which has to go to the port, stacke of grain bald in Canton and a very middle of the month the focal rice market likely to take place from Balgon to the Philip.ad to several fixtures at fairly good rates from sluggish sice market here and hopes were not showed signs of improvement. Iloilo had the pines if the rain hald off much longer in the Saigon to Singapore. After the closing of entertained that much improvement would make first sagar shipments of the season to North islands and two charters, were made on the Newchwang, importers of beads have had to itself felt antif March. Northern business, too, Chies ports and the crop was described as ex basis of at cents. It was recorded that the docement to take up two boats from Dalny and had been hampered by the intervention of the cellent. The feverish activity from Yangtze orders on the Saigon and Java markets had Chefoo to Canton-one at 35 cents and the China New Year holidays, and lively ports had slightly abated but sufficient stocks bess picked up by the North German Lloyd other at 26 couls por pical. Concerning Yang market was not looked for until the re-opening of rice were still left to warrant the employ: Orient steamers at rates which were considered arranged in Skaughal from Wuhu to Canton of the ice-bound ports.Doring the remainder ment of outside bottoms in addition to the usual of the month the freight market remained in liners. The end of the month saw a practical and agents. As regards coat freights, there and Chinking at liners' terms. su_fpanimate_condition,_southern_frelġlite in collapse-of-the-Saigon-to-Hongkong market, war, towards the end of iba month, a slightly particular belag a source of disappointment to only two linera belog sattled, bath at miserable better inquiry for tonnage and several Gxiures owners who happened to have tonnage In rates. position in one port or another. In places like a dull market there,
Advices from the North also reported were concluded at much the same rates an Saigon, Bangkok and Singapore modern vessels
these quoted above. The features of most were disengaged owing to lack of such employ- mout an would leave even the smallest margla provement. On the contrary, the freight market turas at the enhanced rale of a cents per plcul, With the incoming of June there was no im- Newchwang season, which led to several x interest in September were the opening of the
of profe, What little cargo there was moving was decidedly feeble and but few inquiries with a further demand for tonnage confidently in the Saigon-Hongkong trade; was readily
were made, Both pp North and to the South anticipated, and the fact that the local booked at 8 canta per pical by the vessels the market was almost bite of niders. No from hand to mosth so as to avoid a recurrence the rubbar markat due to the pheno❘ found employment from Talienwan to Canton the Saigon trade and after the fixture of a market, became stronger than "aver. Sugar and the axorbitant prices demanded for the old-
There has been a decided boom in usually amplayed in the run, A few steamers
SUGAR MARKET WAS FIRM, recovery whatever bad hat in with regard to During the first forpight in October the sugar of the financial crash which took place sighteen menal rise in the price of this product is the one at 15 cents and the others at 10 cents per couple of waspels at to cents no further toaange | freights from the Philippiner to Chios bad now i crop, which was reported to be almost exhauste
LANDED..ESTATE----
lo most classes of produce and also from the munerative prices in the European markets: Philipptask. The export of rice from Japan spite of the decreased Importations the and Indo-China porte wat very good and aggregate value of this staple commodity, based the bead export from Manchuris showed an the average market price ruling for the year, enormous advance, with the result that dif. In over eight million dollars in round figures. _culty___arosa......In......getting henry- tonnage to carry this freight booked for Europe, The
The landed zatate market, though quiescent, Import finde did not improve in the same has booo, fairly well maintained during the ratlo although it ruiled better during the year st year and local brokers are confidently than it had done for some time past. One hopeful that in rero there will be an onbance satisfactory feature was that Chinese importers eps of business over and above what may be. had practically worked off all their old stocks naturally expected from the general upward and la fatiars it is not likely that large stocks and of the Hongkong market in all its de- will be held; ~ On the contrary, the polley of Chinese Importers seems to be to live more
ADDOM IN RUDBER.“
partments,,
A PREIGHT WAR. --
JUNE A DULL MONTH.
i to be very low for the businesi by local owners
improvement took place in the freight market During the last half of December ‘a slight
10 far as Southern trade was concarasd, where-- reports from the North ware to the effect:
demand for tonnage led to several fixtures image, For the Saigon Hongkong trade the ruddana that the market there was in a'
Ing from 13 to 14 cents per pical Farther tonnage wasbot placeable afterwardson accouarv the depressed state of the local rice market's
'STATE OF STAGNATION, MET
of
months, bin, when several big firme both in London merket from ga od, to over 91, per pical.. Hongkong and up North had a very bad time1b but this appreciation was largely artificial and ware only sgrad by the Banke The Home owing to old stocks being let loose, and though ward krads for roto is distinctly encouraging rubber is now steady, at about 74. 6d. per lo ness conlloued to drag considerably although and the finenza bera export frogi Manchuris investors would, de wall to,go carefully, as there was a slight improvement of rates, which still practically owing to the long continued one of the immediate effects of the Payne Bill,two fixtures at the rate of; 26: cents. Tonnaga
to the casuing month of March, Saigon busi ́is absorbing-all ibe spare tonnage at very fair ratar, so thať stondiuess may be looked for in depresioa-which may after all be only tem this direction, Importers are delag very well, Parys prophesied by broken who keep a the sesson was obtained from Newchwang at rose to 13 cents per pical. The first charter for but nothing in the way of a boom can be ex. keen eye on the London market.
sy cents to Center, and it was calculated that pected in the near future at any rate,,
the porthers port would re-open about the 17th There's no doubt that
has been in a parlour condition throughout the of the month. But the most important feature year if we may except the introduction of an of the market was the sudden revival of a con- rabber, stocks about the middle of the year. but which had disappeared from notice in the avtirely.com (satura lato the local Rialto of cars which had the year beforn boon flopted The shares, of the Rubber Companies have interval. This was a combination of Chinese almost entirely absorbed the attention both of and Slamers merchants, who were evidently
21
IN A GENERAL SENSE
the trade of Chins must increase enormously As an on and setherallways system le coupled up, with a consequent facilitating
THE STOCK EXCHANGE
"'
seemed to be wanted, Advices from the North Anished, at any rate for the year, owing ed. However, the prospects of the new crop described the position of the market Expert from the Yangtze had come to a stand- United States at high prices. This wa having to the fact that all available stocks In
were reported to be exceedingly favourable and undergone a decided change for the warts the islands had been bought up by the the output, may be looked forward to as a very fair average, Dalny and Chefoe to Canton kad absence of rain, in consequence of which there but it remains to be soon how things will work for coal from Mojl to Hoogkong was almost Wat no wafar in the inland creeks and the ex-out to the lacoming year. Of course the pro: Chiness in the belief that a firmer tone will
unobtainable. As regards time-charters, local, the hosts, of course, could not bring cargo bability is that all Philippine sugar will go to the prevail in the Spring took up two vessois-thez down to their shipping ports. An' Insignificant United States in future unless China pays very demand showed for the Nawchwang Canton high prices. The immediate consequence has is and the Bri-for forward delivsty at teruss: basinass, Goal freights formed the only branch been that China has bad to go to Java for her which bave not been disclosed. Time-charter- the general depression. As the month ad deal of outside tonnage belog taken eier by which the freight market can best be of the coast trade, which did not participate in entire ager supply, leading to a good fag, which brokers generally regard as a buce vanced, there was no improvement in coast up, and it is more than probable that in future gauged, was ilimited to a few steamers only, but freights. Owing to steamers being in ample China will have to depend entirely upon Java there is a general optimistic tone. In shipping
for her eager supply.
circles regarding the year which we enter upon e to-morrow,
FREIGHT MARKET IMPROVING,
and cheaponlas of freights from the interior to he, lavestor and speculator so the exclusion determined to make a held bid for a share in supply, rates could not rise, and in some cases the shipping ports; and in this direction Euro of all sound, Industrial concerns in, Hongkong the traffic: between Bangkok and Hongkong, they had evan farther weakened. In the led During the first half of October, chartaring pang, merchants and shipowners, consider it and Shanghai. Some small fortunas have been hitherto monopolised by the North German gon to Hongkong trade, one fixture was settled deplorable, that ap. much opposition is shown made in forward rubber scrip purchases, but the Lloyd. With this end in view they chartered, low a'c canis, per pical. Two steamers operations bad, besu on a much larger scale by the local, sestry in the various districts esount of local capital tied up in the new form for one year, aix. Norwegian-steamers, which found unployment in the Saigon Philippines than what had been the average of lata, das -whorn rail gaya ara desirabla against the employ. of security to Hongkong investors is altogether all being of modern build, were eminently suit trade at 234 and 24 cents par pical respectively. mostly to the opening of the Nawchwang and, mant af forsign capital and foreign engineers out of all proportion to the comparatively ad for the trade. The total canying capacity That was no coum for "outsiders from Bange Yangtze samona. The Salgon-Hongkong rais for the construction of the savant lines non-small profts mida. Quotations for abares of of these vassals amounted to over, 200,000 kok to Hongkong, the entire busiuess, being had meanwhile receded to a noolusi Agure of templated or in hand, for there can be linia Hongkong concaran show no appreciable dispicule. The birth of this concern Bad an 18. Absorbed by the North Garman Lloyd steamars, casts per plcul, while a few Salgon-Philip doubt, avan among the Chiossa gentry, after parity to-day with those obtaining a year ago doubted bearing on the local market, for it meant and those of the saw Chiness Siamese S.S. Co., pinas Extores had been concluded at 24 centa, the sorry show made in the Hankow-Canton with the single notable exception of the once that a freight war must eneur: between the who appeared to haya every, conddance, in the with, more demand for tonnage anticipated, Rallway affair, that both foreign engineers and considered gilit-edged security of the War East, North German Lloyd and the new venture and soccasa pf ibair venture, as they had just en. Two Balago-Jays charters, were foenign zapitai urò necessary to carry out raileving shares of the Hongkong and Whampoa that, consequently, outside Conners Would Tared for one year another steamer in addition cents per plent, which mais, howev way building enterprises as things sand at pre-? Dook Od, which are so-day per cant ber stand no chanos of
ment on to the siz; his employed) and rumours: Ware), kare scoopted, by, the organs with
FREIGHT FROSPECTS FOR 1910,
Incoming year are disibetly primideg, owners
The prospects of the freight market for thes and agents looking forward to the next twal month with an aquanimity which they ware able to assume atthe beginning of the year i Saveral charters have already, béan iacurrel 1980, ka far forward as April-May, have been also placed by some Arm-Iccluding Messrs. Jardine". Op Messi, Samuel, Sampai 2250) Bar Asiatic 00.1 wallat, pe pagand