1920-1930
59
449
on
on Russia (1/8). War declared by Great Britain on Germany at 11 p.m. 4/8. France declared war Austria-Hungary (10/8). War declared by Great Britain on Austria-Hungary at 12 m.n. 12/8. Japan declared war against Germany (23/8). War declared between Great Britain and Turkey (5/11). Supreme Court of Hong Kong declared a Prize Court (21/8). Prince of Wales' National Relief Fund opened. $100,000 voted by the Hong Kong Legislative Council (22/10). Fall of Tsingtau (7/11).
Trade & Industries.-Exchange presented no novel features until the outbreak of war which caused a serious slump, rates on 4th and 5th August being 1/8¾, but on the 11th August recovered to 1/11¼. At the end of the year however they ruled between 1/8¾ and 1/9¼ T.T. Indian Yarn trade had an unsatisfactory year, the losses suffered equalling those of 1906. During the early part of the year there were occasional upward fluctuations; the European war caused a decline which in November reached 25 per cent. The total turnover was 155,000 bales against 125,000 for 1913 and 180,000 for 1912. Piece-goods had a very bad year owing to the floods in the West River, depreciation of Kwang Tung notes, and the European upheaval. Fancies and Novelties began fairly well but fell away. The Woollen trade was bad and large stocks remained on hand. Sundries business was not satisfactory. Stocks were heavy and demand poor. Trade in better class sundries tended to get more and more into the hands of the big department stores and the old-fashioned shopkeepers had to turn their attention more to cheap Japanese sundries. The Tailoring and Outfitting trade was poor, and many shops had to close before the end of the year. The Silk Market which opened very promisingly and continued good for the first half of the year became greatly restricted on account of the unprecedented West River floods causing destruction to the mulberry trees. The European War brought about the complete collapse of the trade. Exports to Europe 22,928 bales as