COMMERCIAL NEWS.
MESSES SETYA'S REPORT.
Messrs. S. D. Serna and Ca, Hongkong. report as foNows under date ofAugust 16—Cotton: -No stock: Nominal-quotations:
Indian at $45 to $55 per picul;] Chinese at $45 to $60 per picul. Indian Yarn: During the first part of the fortnight market ruled. steady but latterly. owing to eager sellers, prices declined about five dollars per bale Sales are reported of about 1,600 bales of No. 10s; and 400 bales of No. 12s; in all about 2,000 bales, Closing quotations: —$225 10 $260 for No. 10s; $240 to $260 for No. 12s; $280 to $300 for No. 168; and $300 to $340 for No. 20s. Unsold stock is estimated at about 3000 bales. Sald but un- cleared stock is about 20,000 bales. Sundry Articles:-In im- ports, sales are reported in Kismis
· (0) - $45, per picul; Putchuck @ $ 140 per picul; gum olibanum kt $7 to 11per picul; buffalo pickers
$11 per picul: cloves @ $55 per piculs; simonds @ $ 30 per picul; and fish maws & fins (at various prices). Ia exports purchases are reported in cassia @$13 per pical: sugar candy
$27 per picul; fire crackers $ 16 percase; galangal (r $7 per picul; quicksilver 4 $240 per picul; green beans @ $5 Ber picul ani v million ($142 per
case.
FURTHER STEEL IMPROVEMENT.
The Age of July 9 says --- The steel market shows further improvement in exports, with fresh evidence of expanding de- mand in various lines of domestic. consumption, and growing con- fidence in the stability of prosent | prices of finished products. The adjustment of the industry to "something "under a two-thirds operation promises steady holding of mill schedules through the summer and a probable increase in ourput as fall advances. There is enough trregularity in prices to keep hayers and sellers alert; but the plentiful tak of possible advances has produced little for ward buying. After taking
good Some
contracts. "Several makers of · nuts. bolts and rivets have put up prices à per cent on bolts, $3 on nuts except semi-finished, and 10 per cent. on rivets. Others have followed suit. butthere are still some stragglers. The agitation by the Western Association of Rolled Steel Con- sumers for a Chicago base on iron and steel products has led to an appointment for a hearing before the Federal Trade Commis- sion at Washington to-day (Wednesday) Chairman Gary appearing for the Steel Corpora. tion, while the association is re presented by its attorney. Japan has been no small factor in the copper advance. the market now verge of 20 cents. On the whole movement Japan has taken 32.000.000 pounds. The sarprising development in copper is that the Government surplus which threatened to be a drag on the market for many months bas now been entirely sold. June- sales of pig iron in the case of some furnaces equalled the toral for several preceding months, and now in a limited way there is pig iron buying fo: delivery in 1920, including some malleable in the central West. But many foundries have yet to cover for the fourth quarter of this year. Enough furnancos are going in to make the market| uneven in their efforts to get backlog ordere. Some cuts are beard of each week, but are generally reported as lapses, which did not break the market. Some Southern furnaces that were weak sellers dre asking $1 a ton tore, the recent heavy bookings of their. Northern competitors having turned some inquiry south- ward Eastern Pennsylvania still reports cone ssions on foundry iren, and standard low phosphorus iron is available at $35. Less than the fall price was asked on around lot of basic wanted by a larga nerthern Ohio steel foundry. The withholding of railroad business is hurting the railroads
has hurt
the more, than it stoel.mils. The Rail ad Administration has no present intention of buying 300,000 tons zore of rails, as reported. Japan is in the market for 5,000 tons of rails, after buying 30,000 tons in the past two months. France vita 5,000 tons of rails and an equal amount of platen, and Spain Is inquiring for 5,000 axles, 10,000 wheels and other equipment. 40001toms of rails on which ginar, has been figuring for
iar to have gone.
ut £19 108
has
HHONGKO
EARLIER TELEGRAMS
THE PROFITEERING BILL
London, A 15.
In the House of Commons on the Committen Stage of the Profitearing Bill many amendments were submitted but mostly rejected. Though the tone of the debate was severe- ly critical but two amendments which the Government ac- cepted were passed, one empowering the Board of Trade to fix the maximum price of any article after investigation and the second empowering tribunals to demand prices st all stages including the source of supply.
The House of Commons was still discussing the pro- fiteering Bill at five in the morning when Sir Auckland Geddes accepted and the House adopted an amendment in the Municipal Trading Clause designed to prevent subsidis- ing experimenta in trading at the expanse of the rate- Fayers. The debate was most animated, the speeches in- dicating general approval with the object of the BB but doubts whether its methods were likely to be effectual Kaisterialists like Mr. Ernest Wild and Lord Robert
Cecil and Mr. Francis Lowe were among the strongest cri- tics of the bill which Mr. Wild described as "the worss drafted measure ever seen." Lord Robert Cecil declared that the country was utterly tired of D.ORA and the whole policy of control. Only a score of lines of the Bill were covered after thirteen hours debate. The Govern- ment had allowed only one day on the Committee Stage bence the all night sitting
The Profiteering Bill has passed the Committee stage and the Commons are now discussing the Transport Bill.
The House of Commons rose at 7.30 am.
Among important changes in the Profiteering Bill is that reasonable profit is defined as a rate of profit which does not exceed a fair average rate earned in the sale of similar articles under pre-war conditions.
la the House of Commons the Profiteering Pill has passed its third reading. A new clause empowers the Board of Trade to investigate trasts. Sir Auckland Geddes ac- zounced that a special Government Bill will be introduced in the Autumn dealing with the whole question of trusts. The Select Committee on Proßteering, whose operations are suspended, decided yesterday to resume investigations,
THE ARMENIAN MÅNDATE,
Paris, Aug. 12
An American Mission under General Harbord is short- ly leaving on a visit to Armenia and Trans-Caucasia under in- structions of President Wilson to investigate military con ditions. General Harbord will especially enquire into the conditions of the new Armenian Republic and obtain com- plete information indicating the obligations involved should the United States decide to accept the mandate.
London. Ang? 13.
In the House of Commons replying to a question Mr. Harmsworth stated that the Allies had not yet granted recognition to the new Hungarian Government. Several questions were asked regarding the withdrawal of troops from Trans-Caucasia, thus leaving the Armenians pro- tected from the Turks. Mr. T. P. O'Connor emphasised the universal horror if Armeniaus were again banded over to their old masters. Mr. Harmsworth promised to convey this sentiment to the Peace Conference.
Lord Robert Cecil: Do the Government realize that our obligations to "Armenians are fully as strong as to General Denikin
Mr Harmsworth. These considerations are in the minds of the Government
Paris, Aug. 14.
The President of Armenia appealed to the Abies for help. He reports a vast movement directed by the Young Turks, Kurds and Tartars, led by Enver Pasha and other Tarks. Turkish troops are everywhere disregarding the armistice terms and endeavouring to establish communication with Russian Bolsheviks. Fighting his began in some districts between Tarks and Armenians. He begs the Con- ference to send Allied detachments immediately or alter- natively munitions. The situation is most critical.
THE PARTITION OF THRACE.
Paris, Aug. 1
The Supreme Council has taken an important step towards the solution of the Thrace question. A scheme
for the partition of the country on the following lines is generally favoured. Eastermost Thrace with Adrianople and the Black Sea coast would form a part of a future International State of Constantinople. In Central Thrace a wide corridor would be demarcated running from the Bulgarian frontier to the sea, including the port of Dedea- gatch. This would be made an International State under" the League of Nations. Through it Balgaria would have access to the Aegean Sea Western Thrace would go to Greece with the exception of a small area adjoining the Bulgarian frontier of 1912 which will be given to Bulgaria. M. Venizelos did not agree to this solution and has an alternative scheme which has not found acceptance among all the Powers.
31. Venizelos alternative scheme with regard to Thrace proposes to internationalize Dedesgatch under the Leagne of Nations Commission, which will control the railway from. Dedeagatch to Bulgaria, thus ensuring the latter access to the Aegean Sea. 3. Venizelos claims for Greece the whole of Thrace from the present Greek frontier to a line drawn from the head of the Gulf of Saros to Midia on the Black Ses, because Greeks here outnumber the Bulgarians by 5 to 1. It is understood this alternative solution is ap proved by France, Great Britain and Italy but America dis- senta. M Venizelos some weeks ago telegraphed a state- ment of his case to President Wilson who did not reply.
BRITAIN AND PERSIA.
Paris, Aug. 14.
The "Temps" states that an Anglo-Persian agreement has been concluded which recognises the independence and integrity of Perris, but the terms appear to indicate that British influence will be paramount. The Shah has started for England in connection with the agreement.
EGRAPH
MONDAY
UST 18
1919.
EARLIER TELEGRAMS.
CRUSHING BOLSHEVIK DEFEAT,
Archangel, Aug, 14.
Absolutsh compite victory has been secured over the Bolsheviks on the Dvisa front. The attack was undertaken to stiffen the moral of young Russian troops among whom agitators have recently been very busy. The enemy was suprised. The attacking troops marched through forests on both banks on a dark night, capturing or avoid- ing the enemy patrols and took up positions on the enemy's rear and fant.
The first enemy notification of their pre- sence was a hurricane bombardment.. Russian and British batteries, gunboats aid motor-launches heavily armed and machine-guns co-opented. The extreme mobility of the launches was most ective. At all points possible the re- treat was guarded by delachments of Russian exvalry:
The enemy, compately surrounded, ceased fire and simu-- taneously-the Britishes-charged all villages with the bay- onet. There was much hand to hand fighting, though many "surrendered immediatly. Fifteen hundred were prisonered at one spot and many sere killed. Practically none escaped. Most of the cremos gas ani machine guns were captured... Our casualties are believed to be the lightest. All the o jectives were reached and no enemy troops are now north of Kotlas. A further advance is not anticipated (^.
A communique, says the Anglo-Russians on August 10 attacked the Bolshevits on the Dyina with complete suc- cess. All the objectives were, carried and six enemy -bat- talions were destroyed Over a thousand prisoners havS hitherto been counted and twelve field guns, were captured. Our line on the Dria was advanced twelve miles to Chadinova and Borok Dur casualties were not heavy.
London, Aug. 14.
It is authoritatively stated that the left wing of the Volunteer Army is closing in on Odessa from the arta- east and east. Recent successes leave caly se ne» railway open to Odesst, from which the Volunteers are only thirty miles distant.
An Esthonian communique direct from Tamburg says that the Esthenians, after violent fighting, recaptured Kalmotka and Chalbite. The advance continues. On the left bank of the Laga River, Alexandrovikaja was retaken with the bayonet. An enemy battalion was annihilated. On the Porhov front we broke through towards Tsarevoly, prisonering five hundr
A Polish communique states: On the Lithuanian front the enemy continues his retreat in the direction of Beregina. We reached a line twnty-five kilometres north-west and south-east of Minsk.” Polish forces commenced an offensive near Brody and Luck, the enemy retreating towards Stubla River.
ASSISTANCE TO RUSSIA.
London, Aug. 14. "The total cost of British assistance to Russia. naval, military. aerial and otherwise from the armistice to July 31 is twenty millions sterlog.
THE HEAT WAVE,
London, Aug. 14
The heatwave iz Britain and France continues. M. Moreaux, a well-known French astronomer, attributes the. conditions to sunspots. The telegraph cable lines at differ- ent parts of the globe we affected by the upsetting of the world's tellurian curzen, resulting in occasional heavy delays on all routes.
THE NORTH WEST FRONTIER.
London, Aug. 14. Although peace has been signed the Afghanistan trou- ble on the North West frontier has not ended. It is off- cially reported that Baluchi tribesmen attacked the out posts of a British conve. We suffered fairly heavy losses in hand to hand fighting.
THE GOLIATH.
Paris," Aug. 14
The Goliath is unable to proceed to Dakar at present owing to a violent torsdo which totally destroyed the hangers and other arrangements for the serobuses' land- ing.
FRENCH FOOD SUPPLY.
Paris, Aug. 13.
A meeting took plas at the French Ministry of Food and Supplies in connectis with the distribution for public consumption of Americas smmy foodstuffs purchased by the. French Government. Nespeculation will be allowed. This will go far to solve the present crisis.
FRENCH REVENUE.
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EARLIER TELEGRAMS.-
THE POLICE STRIKE.
London, Aug. 152
A meeting of labour leaders at Liverpool last evening decided on a general stoppage at Liverpool for three days. from August 20, and possibly further stoppages for other periods unless the Police striker are reinstated.
THE DAVIS CUP.
Aug 14 30 Decagi
In the Davis Cup play France baat Belg beat Deborman 69, 63, 64 Lagreutz, 6-3, 6-4, 6-2. Decugis and Laurents-(France) beat, and Lammens 63, 75, 62.
SINN FEIN TO BE SUPPRESSI
M. CLEMENCEAU ON HOLIDAY.
d's holiday-of Clemence his ro Supreme Connell will be a Pichon
Paris, Aug. 12
In July French renaue from indirect taxation and "state monopolies amounted to 770 millions francs, excred
the estimates by 175 miljons and July 8, 1918, recei
-The Government has
siferilar bodies in Count
of crimes on which the
Pari
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