1904-1919
HONG KONG, 1913.
271
11
This, as last year, is accounted for by increased demand for coal in Canton, and generally inland: about one-third of the total having been re-exported to Canton.
No coal of British origin arrived in the Colony, except that imported by the Admiralty. The imports of Japanese coal fell off considerably during the latter part of the year, its place being taken by increased imports of Chinese coal.
Cotton Goods.-The decrease indicated here amounts to 19,894 tons, or 33 per cent. It is more than doubtful if this decrease is borne out by facts although there was undoubtedly considerable reduction in imports of both piece goods and yarn.
The favourable prospects prevailing at the beginning of the year, as noted in last year's report, were destined to be extinguished by the renewed political trouble in China, which created unrest and financial difficulties destructive to trade, with the result that the demand fell to zero, and no shipments were made. During the last part of the year, however, the trade revived, prices ruling steady, and exchange generally favourable.
Flour.-Here was reported a decrease of 30,716 tons, or 31 per cent., most of which is fabulous, the imports of flour being probably reported, in many cases, as "general." The actual imports amounted to 129,415 tons, of which 67,887 tons were reported. This amended total, compared with that for 1912, gives a decrease of 12,950 tons, or 10 per cent. The reason for this actual reduction in imported flour is undoubtedly the recrudescence of political trouble in China, which caused shippers to be cautious.
It is of interest to note that Canada, during 1913, made her first shipments of flour to this market. The quantity is as yet small, only 8,000 tons, or 6 per cent. of the whole, but, given more stable conditions in China, there is no reason to doubt that the Canadian mills will shortly be sending us large quantities.
Kerosene Oil.-Bulk Oil shows a falling off of 12,537 tons, or 18 per cent. This decrease is not of any importance. The stocks in hand in the Colony were large at the beginning of the year and low at the end, more having been sold than imported. The actual consumption of oil, imported in bulk, in South China decreased by about 5 per cent., but this was more than counterbalanced by increased consumption of oil imported in cases. Bulk oil is always decanted into tins before distribution in China, so that to the actual customer it makes little, if any, difference in what form it arrives in this Colony.
Case Oil-Here an increase of 12,243 tons, or 33 per cent., is reported, but, as in the case of bulk oil, there is no significance in the figures. It is merely a question of stocks and freights. Stocks were low at the beginning of the year and freights high. During the second half of the year freights dropped, and large shipments were made, so that by the end of the year all available storage was virtually full. During the year a new competitor in this trade has entered the arena, in the shape of the Texas Oil Company, who have made some large shipments to this market.