1920-1930
87
477
coolies (30/4). Knighthood for Hon. Mr. H.E. Pollock, K.C. (3/6). H.E. the Governor unveiled memorial tablet at the Tung Wah Hospital of Sir R. G. MacDonnell, C.B. (10/6). Attempt to assassinate M. Merlin, Governor General of Indo-China (19/6). Shameen strike begins (16/7). $50,000 granted in aid of Sufferers by the Kwongtung floods (31/7). Shameen strike settled (13/8). Shameen strike resumed (16/8). General resumption of work on Shameen (21/8). Death of Mr. A. G. Stephen, Hong Kong & Shanghai Bank (27/8). s.s. Ningshin pirated near Wenchow (2/10). Trouble between Sun Yat Sen's Troops and Merchant Volunteers (10-16/10).
Trade & Industry.-Exchange varied at first between 2/4 and 2/3¾, gradually rising until it reached its highest point, 2/5¾ in October. It then declined to 2/4 at the end of the year. The demand for Indian Yarn showed further falling off, due to increasing output of cheap Chinese Yarn and Japanese competition. Trading conditions in piece goods were good during the first half of the year, but later political disturbances in the adjoining provinces upset the market. Increasing competition was experienced from Japanese goods at the expense of Lancashire products. Business in woollens was brisk. Light woollens are replacing the silk garments hitherto worn by Chinese. The former are cheaper, last longer and, with the aid of artificial silk, can be made quite attractive. European consumption of silk doubled during the year but there was a heavy falling off in demand from the American market due to the poor quality of Canton Silk exported there. The sundries business was dull and profits low. In rice trade with outports was slack. Dealers in Siam rice suffered heavy losses due to fluctuation of prices and keen competition. Rice from French Indo-China did not sell as well as in recent years. The outstanding feature in raw sugar was the steady fall in prices, decreasing 40% by December, due to increased beet sugar production. Soy,