TRADE.
As pointed out in previous years the figures which are given are meagre, and of little value, being derived from reports of ship masters which are given in round figures and several items of cargo are only entered under the heading "General":
In a few cases, I can however give more accurate figures and these are:
1915.
IMPORTS.
These shew a decrease of 26,946 tons compared with the year
Increases are shewn under the heading:--Coal, Cotton Yarn and Wool, Hemp, Kerosene Oil in cases, Rattan, Rice, Sandalwood, and Sugar, while decreases are shewn in Beans, Flour, Kerosene Oil in bulk, Liquid Fuel, Timber, and General.
Beans. A decrease of 10,812 tons is shown, due to Japanese competition close proximity to Tientsin and Dalny with direct steamship lines and lower freight rates than Hongkong can procure.
The trade with America in this Northern product together with that of Peanuts has gone over almost entirely to the Japanese, and what promised to be a large and lucrative business to Hongkong has been lost.
Coal. There is an increase of 62,811 tons over the last year which is due to local and Canton manufacturing concerns laying in stocks as protective measure against advancing prices due to shortage of tonnage. A large part of the surplus coal is from Formosa and Yaeyama.
Cotton Yarn and Cotton. Once again there is a decrease of 2,274 tons, due to most of the cargo being transhipment cargo.
Flour. The decrease of 14,675 tons is due to Chinese flour competition and high prices ruling for American and Canadian product, also shortage of tonnage and high freight.
Kerosene Oil. There is a decrease of 37,593 tons shewn in Bulk Oil, which is due to falling off in demand on account of high price brought about by general war conditions, and what would appear to be an increase in Case Oil is really not so, as the demand has also fallen off as in Bulk Oil. Large stocks of Case Oil are carried over to the present year, and if conditions become worse, this apparent increase will be wiped out.
Liquid Fuel. A decrease of 2,943 tons due to the scarcity of tank steamers.
Rice. The increase of 71,144 tons is due to great demand from North and Central American market principally, which was formerly supplied by the European market when freights were low.
Timber. A decrease of 31,477 tons chiefly accounted for by the stoppage of supplies of Oregon Pine through high rates of freight, Philippine Hardwood being used instead.