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HONG KONG, 1807
COLONIAL REPORTS-ANNUAL.
CLIMATE.
As bearing on the above, the following particulars regarding the climate during the year under review may prove of interest. The average monthly temperature was 71-7° F., as compared with 72° F. during 1896. The maximum monthly temperature was attained in July when it reached 82·1° F., as compared with a maximum monthly temperature in the same month of the
A minimum pevious year 88.1° F.; the past monthly temperature was
recorded in February, as in 1896, being 54.2° F., as compared with 53.1° F. The highest recorded temperature was 91-8° F. in the month of September, and the lowest was 41° F. in the month of February.
The total rainfall for the year was 100-03 inches, as compared with 71.78 inches during 1896, the wettest months being August with 25.55 inches and June with 23-355 inches, whilst the driest months were December with 0:48 inch and March with 0815 inch of rain. No rainfall was recorded on 193 days of the year, as compared with 208 days during the previous year. The largest rainfall for the 24 hours during the year was 603 inches on the 28th June. The relative humidity of the atmosphere through- out the year was, approximately, 80 per cent.
The average daily amount of sunshine was 4·78 as compared with 4-8 hours in
On 71 days only no sunshine was recorded.
1896.
SHIPPING AND TRADE,
The shipping returns for the year are not quite so satisfactory as might be expected. The total tonnage entering and clearing amounted to 15,938,174, being a decrease of 577,779 tons as compared with the year 1896. British shipping shows an increase of 329 ships and a decrease of 489,528 tons. This numerical increase, with a tonnage decrease, is attributed to the number of small vessels which, since the opening of the West River in June last, have been plying on that route and increasing the number of entries and clearances without a proportionate increase of tonnage, whilst British ocean-going steamers show a decrease of 201 entries, aggregating 275,360 tons, the chief causes of which are attributable to the continued failure of the rice erop and the deflection of the Siamese rice trade owing to the plague and famine in India.
Foreign shipping, on the other hand, shows an increase of 263 ships, and of tonnage aggregating 280,731 tons, the shipping under the Japanese flag having been more than doubled since 1896, and showing an increase of 153,343 tons. German shipping, on the other hand, shows a decrease of 41,000 tons. Shipping under other foreign flags shows a more or less substantial increase, but there has been an appreciable falling off of vessels classified as "Junks in Foreign Trade" and "Junks in Local
COLONIAL REPORTS-ANNUAL.
Trade" which is attributable, inter alia, to the failure of the Hong Kong. rice crop and to the increased river steamer traffic.
TRADE.
The trade of 1897 was on the whole unsatisfactory from a local point of view, and more especially in imports, which were adversely affected by the low rate of exchange and the scarcity of the circulating medium--factors which not only restricted business but greatly curtailed profits.
In cotton piece goods business opened dull, but improved; during the summer a healthier tone prevailed, transactions being above the average of recent years, due possibly to some stimulus derived from the opening of the West River in June, but later in the year an adverse exchange restricted demand, while at the close business came to a standstill owing to the extreme tightness of money. The result was a falling off in the volume of business as compared with 1896, and this was even more marked in the case of fancy and woollen goods.
The trade in English cotton yarns compared favourably with that of the preceding year, and is reported to have been profit- able to dealers, but the margin of profit to importers was slender.
Compared with the business transacted in 1896, the trade in Indian yarus must be pronounced as unfavourable. The pre- valence of plague in Bombay, the prohibition of import into Tonkin during three months of the year, the violent fluctuation in rupee exchange, and the serious fall in the dollar prices of yarn during the final quarter of 1897 combined to check the import of the Indian product and promote that of its Japanese
rival.
In metals and sundries a fair business was transacted although not very profitably to importers, the fluctuations of exchange and tightness of money serving to handicap operations.
Although the import of foreign opium showed a slight increase over that of 1896, the trade in this commodity proved generally very unprofitable, chiefly on account of the unfavourable exchange between India and China. The native drug owing to the high rates asked for the Indian product is gradually but steadily replacing the latter in the Chinese markets.
The volume of the import of flour in 1897 was somewhat less than in the previous year (3,312,116) sacks, as against 3,831,499 sacks in 1896) consequent on the higher rates prevailing, but the trade was profitable to importers, who for the most part had bought forward at prices much lower than those ruling on delivery.
The trade in kerosine oil continues to show a steady increase, the import both in case and in bulk comparing favourably with that for 1896.
1897.