484
trade, a fair Index may ba gathered from the
THE HONGKONG TELEGRAPH F FRIDAY DECEMBER 31 1900
THE HEALTHY 'TONE ·
fact that the Peninsular and Oriental S. N. Co. at the end of April was maintalood for some are already full up of cargo for the first four time in May and rates advanced to $1,010 for months of the year both for their regular fortains and $4,oto for new Denares, and nightly mall steamer and for the intermediate Chillers with capacities ranging from 8,000 to
10,000 tons. So far as the Pacific trade is con- corned freights show a decided upward tendency and a good year is confidently anticipated by owners. The coasting trade, which has under gone many vicissitudes in the course of 1909, Has fairly stiffened towards the end of the year,
and all classes of fonnage have been asked for without charterers and owners coming to terms: But outside of that, several fixtures have been concladed on time-charters. The rice crop reports from Balgon and Bangkok are very la
vourable ledeed, and the imports of this staple from Siam and Indo-Chinn as well as fram Ja pao is almost certain to exceed the imporis from the rice countries of last year on 'account of the havoc which has damaged the Canton crop to the estimated extent of 40 per cent. In view of the improved prospects several charters have been done and inquiries are so numerous that the condition of the freight market may be safely sold to point to a good year for owners and agents and to a fall occupation of the coasting fleets which had been, so to speak, eat. ing their heads off for the best part of 1999 or else running cargoes at rates ranging just below the irreducible minimum,
FROM THE NORTH
fair amount of busiasts was done. The tits conilqued and at the close of the mouth rates
touched. $1,100 for new Patona risa of over Sroo-bust immediately after a sharp reaction followed and the market again receded and the month closet with St,oss for new Patna and Benares at $1,075.
RESTRICTIONS IN CANTON,
It was about this time of the year that the Canton authorities began to be rather insistent in enforcing their restrictive regulations to sup press oplum dealing nod smoking. -'
41
In the early part of June somewhat violent actuations took place, but it subvided Im mediately afterwards and the market became dull and tatas declined to $1,007) for new. Patna and $1,020 for new Benares. It continued us decline and the month closed with $9ds for Patue and $1,022) for Benares.
A ftir business was done in the first few days of July, but it slackened owing to the decline in India, and in sympathy with it local rates dropped to 5950 for Patna and for Besares $gye was the nominal quotation. A reaction, however, followed later on when a demand set in and rates resumed as upward tendency, The month closed with $947 for "Paton and $9771 for Bewaren.
A
In the beginning of August an come reports that the rice harvest is exception.
UNUSUAL ACTIVITY N ally bounteous and great quantities of the staple was noticed in the market, owing to the -commodity are expected to be shipped from the high prices fetched at the nuction sale Yangiaze ports in the early part of the Spring.in India. A moderate business was done This points directly to a considerable number at $995 for Paton and $t,opo Benares. Rates of outside steamers being once more in request advanced higher later on, in sympathy with at good rates for southern shipments. It has the rise In' Shanghai." to $1,030 for Patna and 10 be admitted, however, that all this is in the $1,040 for Beaares. The restrictive regulations Jatere. At the present moment the freight Canton, the enforcement of which began in market is at a standstill practically, but a very August, assumed substantial rash; gratifying both to owners and charterers,, may be expected is the opening months of the New Year, as the supply and demand in the shipping market is on a souuder. basis than it was a year ago and very much sounder than it was two years ago. As regards
the
A MORE VIOLENT PHASE
in September, and the Provincial authorities, to demonstrate more forcibly their determina- tion in purcing the anti-opium hovement, arrested à Chinese dealer pad to enforce obedi. ance to their orders imprisoned him. This action on the part of the. Oanton authorities aroused the indignation of the local dealers who, as su emphatic protest against the action of the authorities, suspended direct business with Hongkong pending the release of the native dealer. After a couple months' imprisonment and upon the payment of the fine the man secured his release, '-
Government for Formosa, and for all practical purposes may be laft out of calculation in the computation of the opium trade for Hongkong, Taking a whole, the authority we consulted estimates the value of the trade in spoy la opium et between $30,000,000 and $35,000,000.
| PROJPECT FOR THE NEW YEAR.
For the year 1o1o. the prospect of the foreign oplem trade will entirely de pond, on the movements of the Ohio autherilles as regards the decrease in their cultivation, for in the reduction of the screage, price will fanber advance more and more proportionately and it is only natural that the foreign deng will follow in its wake. The year 1910 finds the Government of India sull going on with their reduction of 300 cheats per manth and also in this year they will decide a to the quantity to be reduced for the following three years.
THE YARN TRADE, To Mr. P. Eduljos, yarn, broker, 'we are in debted for the subjoined brief summary of the Indian yarn trade during the last twelve
months.
On
Importi amount to 227,108 bales as against 210.775 year, showing an increase of 16,821 baler, while sales aggregate 138,491 | hales, na noainst. 151.243 in 1908, showing ■. decrease of 13,552 bales. This decrease may be parily attributed to the absence of any material demand during the last, two months, owing to very high prices demanded by holders and party to the increasing competition of Tapanese and Chinesa yaro, no also of Japanese cheap cloth in the consuming districts.
The year opened with a very slack demand a paltry business was effected in and only January, almoit the whole of the month being taken up with the settlement of accounts and the lastigitles of the China New Year. rerampilan of business in February 'consider. able settlements were made, and with acca. sinmal assistance from Shanghai the inquiry continued more or less active till the end of March when prices showed an appreciation of Er to Sy per bale, and nearly arjono bales passed into consumption, exchange on India fluctuat ing balwero Rs. 130 and Rs. 132. Dating the greater part of April the market remained quiet, but at the end of the month another brisk demand from the country set in tasting with but little intermission till the end of June, resulting in a further advance of St to $3 per bale in prices and sales of over 15,000 bales. Under ordinary circumstances sales and prices would have shown a considérable increase but for the sharp'sire in silver during May and June, which not only curtailed business but checked the spward tendency of the market. In July the rising tendency in exchange gave place to a wasker tone and simultanehus rumours of a short coiton crap ja America encouraged dealers to re-appear is the market in great force, Buying was now resumed with more or les vigour throughout July and the greater part of August, when exchange showed signs of an advance and a temporary depres sion was caused in the market, lasting throughout September, On the whole," how ever, the third quarter coe to a close with a for opiurn arose from a quarter least expected. satisfaclory experience, the gain in values Saigon, at this stage, poured in orders into amounting to some instances to $5 per bale, Hongkong and Importers falt but too eager to over 40,000 bales changh.g heads while pro unlead part of their stock at steadily advancing spects ahead appeared encouraging. October prices at a time when the Canton impasse fore-sel in with a strong general inquiry consequent hode such gloomy anticipations, which, for tunately for the trade, never materialised.
BAITISH REPRESENTATIONS. in the meantime consumers could not do without the drag and importers in Canton, ac- cordingly, devised the scheme for "saving face" with the officials, by obtaining all their require ments by way of the West River ports. This roundabout method, though entailing a slightly higher cost in transit, had the effect of removing the deadlock which for a time paralysed trade with Hongkong, leading to a formal protest being lodged with . M. Consul-General at Captop, through the Hongkong General Chamber of Commerce, by whom representations were addressed to His Excellency the Viceroy.
A WELCOME DEMAND
EXCITEMENT IN SHANGHAI,
on the violent actuations to the American cotton, and about 22,con bales changed hands, prices showing a further advance of $1 to 83 per bale, Business during the last two months has dwindled into a minimum, owing to almost probibitory prices now ruling, and the year closer almost lifeless with a meagre tjock of 14,000 bales to be carried forward,
|
I
ton, so that China must rely upon Java more than ever for her raw sugar supply. It is 100 early yet to speak of the prospects-good or bad of the igio crop in the Dutch islands, as it will pot come on until about May, but whatever hap. pans there is every likelihood of a maintenance
of, that drm position which characterissa the
** THE MANCHURIAN MARKET:
A perplexing problem arises in connection with the Northern market. It might have been reasonably assumed, that Manchuria would have faralabed a large cansuming cutlet for the products of the Shangbal mill-owners
market at present. If a bad barvest should that, in certain years when the crops vary in result the ball million, piculs of raw material Manchuria and Soochow and Yangtze ports, and teid up in Hongkong godowns will be much American flour can gals a footing free of daty appreciated is value, but on the other hand a into the territory. Such bellef is erroneous. full harvest will cause a slight slackening of since the duties leviable by the Customs on the market without impairing its solidity. Chinese-milled flour from the Southern port, There is so sinck as refined sugar wald up in in effect, sets at a probibitive tax against it the Colony, as the demand from India, Chefoo, admission into Manchuria shus socuring for the Shanghai and the Yangisze parts absorbs all sales mit at Harbin a virtual monopoly of the available supply. To hark back for a the extensive territory around and beyond that moment to the Payne Bilt, it is worthy of note dating point of Russian commercial and ed about 502,000 picuts annually, from the that before this became law Hongkong import political lofluence in the Province. The policy
Philippine Islands, but no maxioty is (alt le merchant circles about the ability of the Dutch possessions to supply the deficiency. In a review of the sugar market, boat sugar has no place and may be left out of account, as the growers of this product can. not compete with the local cine-sugar, and the crops from Germany, Austria and Ratalà dad a more or less lucrative ma kai in Europe and America. The quality of the sugar imered from Java is of Now, 13 and 14 Datch st-dard and is of an average price of $8.50 per pical. Of the estimated milllaz plculs of raw sugar imported into the Colony, about two million plculs were absorbed by the two local refineries whilst of the remainder some was re-exported to the North and the rest was melted down locally for the froit and ginger preserve trade.
RICE.
THE "OPEN DOOR" in Manchuria so loudly proclaimed to the world at large would seem to be in prac tice only cominally existent, since the tax on flour affectively shuts the door against China horalf as represented by the flour of the Shanghat mille,
FORECAST DIFFICULT.,
♫ Whather, the near future will bring about any material diference, it is difficult to hazard a prophecy. Whent le now high in the Walled States, hat a reaction may, sat in at any time. when prices will again become pormal and 10 enable the American milis to come, lete the trade again and even fa-capture the lost ground until this year supplled by way of Hongkong. On the other hand, the trade must face the fact that the American farmer has had the taste of high přices and he le a very difficult ensiemer to Baggie with. In the American farmers to day are found the biggest clique of " balls" operating in the American exchanges, and li will be opposed to their interest to see flour quotation at much lower figuren,
Another factor to be taken into account in the formulation of an eyen approximately correct forecast is the absence of any large increase la acreage in the wheat fields of the world, while the demand for four is Increasing from day to day. It le just possible that in the course of time North China may kler” thu tuation altogether by putting large areas
ander, whest cultivation and to become at
wheat producer.. The growing demands for bread-stuff all over the world have not ceased to expend as le proved by the fact that the European markets are holding up well in' spite of the excellent crop from Argentine and the bumper harvest which Australia is about to gather,
WINES AND SPÍRITS...
There was nothing very important to record In the wine and spirit trade during the early part of the vent' which termlustas fo-day. Bunla
Indirectly, American four in small quantity is imported into the Shanghal and the Souttern territory from the necessity which the consumers have to meet for mixing their flour with the Americau staple. Flour,imado lu Shanghai is according to expert opinion, a trifie damp and dark in colour and therefore requires a drier and superior flour to mix with It in order to reach the grade requisite for kneading Into good bread. The Southern Chinaman. having boon doce used to bread-staff of a superior quality, mill-owners have to con sider their idl-syncrasies If they would retalness was brisk and merchants were well sails. the valuable clientele provided by the fied with the turn-over that passed through their. In bulk, the rice trade between Hongkong Treaty ports of South Obloa whose good graces hands. But a very gesat change came to, pine : - and Bangkok and the French parts of Hai-Shaoghal has succeeded in winning during the when the Government decided in August that phong and Saigon has been much the same as
year. Much to the credit of the Northern mills an import was to be put upon all liquore brought in the year preceding the present. In 1958 they have to fight against the odds of climatic into the Colony. On the 17th September, the conditions which milliate agafost milllog opera- Legislative Council passed the Liquors Ordi. Siamese sice imported aggregated some
papce which in its original form provided for. $12,000,000. This year the leading rice marlons and also against the lack of knowledge on chants calculate that from all sources the im- the part of native harvesters in handling wheat the following dues:
Für Osilon. ports of rice bave amounted to about which they do in the same way as garaerlog Brandy and liqueurs......................$3.60 $25,000,000. During the year the Bangkok their staple grain-rice. It is the opinion of Whisky trade has suffered on account of the low ex- observers who are competent to express jade
ment, that the Chinese method of threshing the change, the tical standing now at go cents as agaios do cente in the early part of the year. wheat alter cattlag does not tend to improve the grain which dont not keep well unless it is put out long in the sun to dry. Boulder, Chi- nose farmers harvest the wheat to a damp condition and astorally it remalos damp,much to the disadvantage of the millers.
while the Bangkok, rice millors suffer, the Hobgkong denters have been making good money. From bath Saigon and Bangkok the reports regarding the new crop are very favour. able indeed, From, the Canton River valley, on the other hand, we regret to have received reports of disastrous floods and typhoons, re- säling in the destinci of 40 per cent, of the crop, so that the rice shipments from the South ate bound to be bigger than ever his year. On the whole, the market has held up very well during the year 1909, and prospects for roto are generally regarded as belog extremely fav qurable.
FLOUR.
To all appearances the high water mark in the flour trade was attained in 1907, if the figures for the two following yeys in succession can be accepted as any cilterion whereby a judge the ebb and flow of the trade in this commodity with Hongkong at the disribating centre. With a falling off in importations in 2009 amounting to gr5,000 bags as compared with 1908 and 1,327,010 as compared with 1907, showing, respectively, declines to Imports of 2241 per cent, and 35.8; per cent, Hongkong, it would appear it losing much ground in this particular branch of trade. Tabulating the three. yearly statistics we arrive at the following-
2:40
Gin, Rum, and other Spirituous liquor... 1.30 Champagne......................osion - $40. All other sparkling wines............... 1.80 Port, Sherry, Madeirs...................immioni “Lā Other still wipes la botticaine 1,20 Other still wines in wood .... . 0.60° All other latoxicating liquors, excepting
spirits of wine, and native wings and 200 episite...............
-0.34 d
On all palve, wfoot and spirito s—m
(e) Containing under 10 per cent of
pore alcohol by weight mmennene 015 (3) Conṭalolog 29 per cent, or over and ** under 40 per cent, of pure alcohol
by waight...
040 (c) Contaiólog: 41 per cent, or over of
NO AUSTRALIAN IMPORTS, The Imports of four loto Hongkong for last year have bran practically all from America. Australia, which made such a successful bid for the trade in 1957, following the anti-Amerl- can boycott by the Chinese, this year did not the good reason that on account of the low rate enter into competition In this market at all, for
of exchange ruling Australia was not ableto da pure alcohol by waight jamilieinii” 1.20 Spirits of wine and arrack................................................ 3.00 as much as name.their prices, althougb. crops. In the Commonwealth bava bean reported to
Since the passing of this Ordinance, the liquor be uniformie good. They have, po doubt, trade has not heen so good as it was previously. and the Christmas bralcosa has showed 'a'most found the European marketa much mora profitable wherest to dispose of their products, decided falling off. In consequence" of the while Americas millera sacrificed their profits heavy duties, the Qbinere are not buylay so across the Pacific in order to yield to the much brandy and other European wines as they dictates of business perspicacity by not lasing used to do, but have fallen back on their native their hold-if even for a time-on the Orientalamh, which pay only 2 cents par quart
market.
;
COMPENSATING OUTLET.
bottle as against do cantu per quart bottle charged on brandy,' or $7.20 per casa.... As a result of the
BEAN AND BEAN-CARE TRADE from Manchuria and Vladivostock the exports during the past year have been phenomenally large and there is every reason to hope that this business" will be well maintained in the Incoming year, for the harvest has been entirely favourable and large carriers will be much in demand. This means practically a stiffening of rates for homeward business, as there are not sufficient steamers of huge capacity in the local market to meet the demand, owoers at Home have a distinct disinclination to send out such vessels in ballast or only part-filled with cargo although Homeward cargoes are an as- aured fact. The only disconcerting note la the boon trade, so far as the local market is con- cerned, is that practically the whole of the Manchurian crop has been secured by Home buyers, who have offered "and had accepted prices which local buyers would consider to be naremunerative, but wille, this means that smaller carriers will be less in demand for the coast trade from Newchwang and Viadlya- slack southwards the balance of tonnage should be well maintained by reason of the fact that the more favourable raies which are expected to rale for large carriers will cause certain withdrawals from other trade routes which vessels of smaller capacity can easily fill. For the Newchwang 'business, several fixtures bave already been made as far forward
While market was in a sints of leci as April-May at an average price of 288, 67, per pient agitation to the South, Shanghai also ton, which rate leaves a very fair profit for showed signs of an unusual activity and owners. Other charters have been concluded dealers here, following the lead, rushed for February-March-April.delivery, which, in up prices to 51.007) for new Patna. This the general opinion, points to a good year to continued on into October, when, owlog follow. On the whole charterers show themselves to a further advance in the China oplom anxious, in view of the present scarcity of a strong feeling set in for a demand and tonnage, to secure forward steamers in order to prices consequently jumped up enormons, fill contracts which have already been conclad-ly so much so that at the close of the ed and which must be met at the date specified, month, new Fatos fetched $1,350 and Now so that the freight market should prove sound Benares $1,310, The excitement became not only in the early, part of the coming year leverish early in the first week of November and but throughout the twelvemonth at well.
scramble was made for the Indian drug as the native article enhanced in value and the appre. cedented record, with the exception of the price fetched at the time of the Taiping rebellion $2,000 per chest-was established with the highest price for new Patna at $1,675 and new Bedares $1,590. The advancing prices of the native drug, which way, attributed to the reported considerable' reduction of Our native dealers have not fared badly. Its cultivation in the northern and west Prices have been sténdily rising throughout the | ere provinces, silmulated dealers to lay Ingroster part of the year and the country demand a good stock of the foreign drug for replace
has been responsive... mant in the above provinces. It was more o
A SPECULATIVE OPERATION, Ihan the needs of the moment, hence wers going to increase the duty pa opium im- prices took such a high flight. But even ported, the market lapsed again into an inactively, as countly, when there were Do state. America at this time also stapped the buyers, the market collapsed, as there was no Importation of opium into the United States. authentic report to substantiate the news of Market in consequence became lifeless. Small such a considerable reduction as it was at first sales were made in the middle of the month at back to St.465 for new Patos and $1,400 at the operation of the sugar market, during the South, Shipmeñisto Canion alons from Shang. timsabeadandby purchasing at this most favoured for sale and consumption Immediately after
OPIUM.
The closing few days of the year 1908 looked as if it augured well for the trade in opium during 1999, as, after weeks of inactivity, mar. ket assumed some life and a fair business was done. Prices continued to improve and the highest rate touched was 51,135 for now Patna, and $1 oyo for new Benares. However, these prices could not be maintained as the un- expected rice in Exchange made dealers cau- flour. · Another disturbing' factor was the ac- cumulating stock and this, combined with the rumour that
THE FEDERATD MALAY STÁTES
$1,100 for new Patna, 51,030 for saw Benares.
February opened with
& QUIET MARKET
at the early part of the month; but towards the middle, owing to the lessenings of Chinese holdings, a fair quantity was purchased at
$1,061) for now Patna and Sorg for new Benares, Bat at the end of the month, a tail took place which' deopened Into March and piicer continued
- TUMBLING DOWN,
iomised, Prices in the middle of the month fell
the end of November, which was a normal price. However, in December, after a quiet term when nothing was doing, a reaction set in for immediata requirement and quotations were etablished at $1,405 for New Patna 81,420 for new Beanies. Dering the last few days of December, samo business was put through at enhanced rates,
مجھ
In the beginning of the year best Ne, 109.- were sold at fog and No. 208, at Sr30. They are now quoted at Stió and $145. respectively, exchange on India fluctuating be. tween Re:128 and Rs. 131 throughout the greater part of the year. Although ssies during the year show no improvement over those of the previous twelve months, the trade as a whele, so far as Hongkong is concerned, hat been remunerative With cheap colton, steadier silver, and incessant rise of prices throughout the greater part of the yeFr, more than covering prices have been obtained, and if invoice costs are any guide to results the profits are more or less considerable and commensurate with the extent and volume of the transactions.
On June 30th, 1908, there were in all ladia 741 mills working and in couran construc tion, of which Bombay Island alone claimed 86 suoning 3,736,483 spindles and 35.967 looms employing ra,<36 hands daily. ·
4
༔་
Years.
Receiple in Hongkong.
1907...
-**** 4.040,000 bags. _1958........... 4,086,000 »
1900 3,170,000
#
From the above it will be seen at a glance that the shortage as against toog is, as already stated, 916,000 big, as compared with the figures for the preceding year.
CAUSES OF THE DECLINE. Questioned as to the contributory factor of this enormous disparity, the leading cuthority Is Hongkong on the subject of flour from the Pacific Slope, to whom we owe our obligations for our facts and figures, explained that it was almost entirely due to the invasion of Chinese termory by the products of the Shanghai mills, It is the territory South of Shanghai, Le, Can ton, Swatow, Amoy and Frochow, that is wholly concerned,
TRIBUTARY TO HONGKONG.
The Colony's four trade for the year would inevitably have suffered greater contraction fo Its small volume but for the fact that the Straits Settlements provided the compensating eutler to partially make up for the loss of the markets Bearer home in Cadion and the Fakblen Pro. vince. Singapura and its hinterland bave been large buyers of the staple commodity and have absorbed a large percentage of the Im ports from Pacide coast arriving in Bongkang. While it is true that the Northern market has bean cut off from us, the South has come to the rescue and in some mentura aiade up for the lays of the Colony's Northern constituents.
MR. PATTEN'S WHEAT CORNER."
-DISPARITY IN THE DUTIES levied Chineio winds are naturally in greater request by Chinese consumers, and European' wines and spirits are looked upon as a thing Apart, One or two Chinese shops have given up the liquor business entirely so far an European liquor are concerned, as they have been unable to ase their way to pay ⠀⠀ $1,000 licence fo view of the diminished
facquee demand for European liquors, quence, the ramrhu dealers are doing lecreas od business. Spirits of wine-on which a daty: of St.ón per dation is levied--are largely exported free of duty to Canton, where these Papirits are employed in a great extent in the blending of Chinese wines, and afterwards rev imported into Hongkong at the reduced rate mentioned above. As anyone can see at e glance, this practice virtually defeats | the Government's-Intenslan of preventing spirits. of wine escaping duty before belag blended with Chinese wines. Only the athar days By seizure was made by the Revenus officem,of about ton jars, inbelled Chloese wide bui containing nothing but splets of wine-From: purely a
HEALTH, POINT OF VIEW.
During the year the price, for four bas. not varied much in Hongkong except for the months of July and August when, owing to the wheat #corear" engineered. Is the United States by Mr. Patten, Chinese daaiers were unable to import and had to be satisfied with the heavy stocks they held in the warehouses on the Island. It was a fortunate circumstance that they could fall back upon their earlier purchases, lace by drawing upon local To former years all these parts were, supplies merchants were able to meet dealers' commercially speaking tributary to Hong-demand without having to rason to au koop, that is to say, that they drew their increase in prica. to any material extent, is a mistake to think that, samoku lajmore. supplies of four from the warehouses in Even though Rongkong la an admittedly wholesome liquor for the Chinese than what, the Colory. But the low price of silver and big flour marker, it is a curious fact that it European wines are. The latter as a mio Arg the high price of American wheat and four has not always awayad or follows, as as devoid of taxic impurities, and, with the except enabled the Shanghai mille to virtually capture Irrefragable colo, the ups and downs of the ton of some cheap foreign brandier and whis the market comprised in the same within American market. Dealers in the Colony often kles, are not put on the market untlesson. Shanghat le the North and Hongkong in the bay in the US. market and stock a considerable ably mainred, whereas Chinese zimati is offere hai, for the year, account for about 300 000 able times are able to supply the wants in the coming from the still, and is contaminated with, bags. The absorption by the Southern capital East without being materially influenced by the toxic aldehydes, or, in other words, füferal all. of Shanghal-milled floor together with the new operations of bears" and "bulle" is the great. If the Government could see its way to makeA
centre of the wheat industry in the Pacific reduction of the brandy duty to the same level practically made up for the loss in the tride Coast. In fact, for the whole of the past year as whiskyvis., 84.80.per case they_mlaht between the United States and Hongkong.
hardly'a single period has been known when the count upon an increased consumption and ar Hongkong mirket has been on an even baste, conséquentenhancement of the revenas derivad": Before the American harvest of this year, under the Liquor Ordinance. Whilety tha dealers here had contracted with the milis for Chinese spirit consumer finds solace in resort. six months' forward supply, and even at ing again to his native sonofu, thers le no such the present moment there is difference refuge for the European consumer, upon whate of twenty cante (Max.) per bag between the head falls the brunt of the enhanced. tamilon Hongkong price (ie his favour) and the cast of and as it is a pileons fact that the poor man ! Importing the four suaumleg that it had to be the biggest consumer the levies od liggert
able to bear it. It is, of coures, Lao sarly yet to purchased at the prevalling rate in the axlatstrike hardest of all on the class who are inane form a defiafta opinion regarding the affect of A YEAR'S FRICKI,
the now conditions which have arisen'sinos the The average price of four in Hongkong for passing into law of the Liquors Ordinance, nor the yest has been 32.60 (Max,) par bags the is it within the province of this rerie, la Cur highest point was reached in August when the quotation was $2.73 per bag (Hongkong of a
cuss the !! pron and cons,” of the Introduction currency), having risen from the minimum REVENUE IVETKU VA quotation of $1,40 por bag early in the year into what has hitherto bead & fru Figuring the years importations of 5,173,000 with the probability, that
Loutlets provided by the Coset poris mentioned
THE YUTUTE SHROUDED IN UNCERTAINTY..
RAW SUGAR. The sugar merchants of Hongkong have every reason to congratulato (hemselves upon year 1959. The market has remaland firm throughout the twelvemonth and a rich barvest of prafi has been reaped by most of the opera fors. From all sources, the amount of saw sugar imported is calculated in round figures at well over 2,500,000 piculs, valued roughly at 525,00 000. Of our two great sugar refuerias in Hongkong, Messrs. Butterfeld and Séire's The lowest price recorded for new Paton was establishment at Quarry Bay has been to fall 5120, the highest $1,615. During the closing with melts averaging 6,000 pirnia | ing weak of the year the market fias exhibited whilst Messrs. Jardine, Matheson & Co's considerable strength and firmness. Rising sugar house bas been taxed to its utmost out by $5 a day quotations close, as we go to press, put of 3750 piculs, and it is expected that their At $1,440 for now, Faton and $1,450 for new pemamerary' sugar-honsa at Bowrington Benares. The tendency le towards higher which ben bien closed down for some three years, will be in working order again early in The incoming year, bringing the output of refined The turn over for 190g has been profitable sugar by this Company un la a possible Loos whose Iphibity is reckon their prices in silver. gport now and then took place and line alike to importers and dealers. Saler daring picals. The most important feature is the suhe same condiiloss, however, dy cot affect traprices fall to their lowest points, vix. $920 the twalvemonth were affected to the extent of gar trade of soap has been the passing of the the fisur burless in North Chin, where he pay for now Paton and $935 for aware. At 16,800 chests Benares and about 3,000 chests Payne Bill in the United States. Tais enact best and cost of raw material are calculated the end of the month market appared to lives Halwa. The average price for the former mens had led to the stopplag of the supply of pn the basis of silver values, lace the Chinete up and prices advanced to $970 for paw als must have ranged between $1,950 and St.400 sugat from the Philipplass, for when the saw operativas à & paid in the focal custency of the at the tige began to circulais regarding the per chest while the latter commanded about law came into force Amariene speculators country and the wheyt growers of Brochow redaction of the Chiness cultiration of the $1,507 per chest. In this review Parulan opium bought up all the available stocks in the islands, and nel,hbouring territory part with their grain. bags aj iku ararage price of $2.60 per bag, the day a new Govaraor, may, folla popere and as the native drug advanced in has not been loquired Into lo sdy'detall, singo at high prices, and so far an futuré, crops are la consideration for so many taste, and cane gross value of Hongkong's four trade in 1909) cadent set by the Liquors Ordians
it was almost wholly bought by bytka japassis - concerned they will Tilaly And a similar destins, i dierena per bilibgl 12
1 fer én son fabases, or cottonTH
The prospects bugan to look gloomy and rates touched 5935 to 5949 for new Patna and 5940 to bajo for now Dieuanes and basluess was done
only for requirements.
During the first few weeks in April market WASID G
LANGUISITING STATE Į
values.
THE YEAR'S SALES,
Whether the future will see the now cond lon of things changed back to the old order depends largely—in fact, almost exclusively on the European and Americas wheat markets and the low or high price of silver, always determining factor in guiding the course of the Import trade whereln go'd-uning countries 'are concerned in nther words, low sliver and high whest cimbired means dear four, zen. dering prohibitive their entra ce into countries
ing market on the Pacißc Coast.2
ip worth $5,321,000,0