Sugar Refineries.-Prices ruled low during the first seven months of 1914, with keen competition from Japanese and Java sugars. On the outbreak of war the Home Government bought largely in Java, and prices were forced up there by over 50 per cent. This of course reacted on refineds; with the high prices and reduced supplies thus resulting business during the latter part of the year was considerably below normal but at good profits for the holders of early purchased raws. Demand has been further curtailed by financial difficulties due to the falling off in China's export trade, but on the whole the output of the Colony's Refineries was well maintained.
Cotton Spinning.-Owing to the difficulty of securing native labour, the enhanced cost of production, and the disadvantages in the matter of Chinese fiscal charges as compared with Shanghai, the shareholders of the local mill decided to transfer the machinery and undertaking to Shanghai. Work was therefore stopped at the end of October.
The year 1914 has been most unsatisfactory for all engaged in the Cotton Yarn trade. The heavy fall in Cotton values in the early part of the year demoralized the market for a while, but matters were improving when the outbreak of the European war in August brought about a further heavy decline in prices and also great financial stringency amongst the Chinese. Dealers were unable to fulfil their obligations, and the burden has therefore fallen upon the importers.
Rope Manufacturing.-For the first half of 1914 prices of Manila Hemp gradually declined until the outbreak of war in August when the market there collapsed entirely and all business was paralysed, quotations becoming quite nominal. Towards the end of the year as the freight market began to settle down and tonnage became available a good demand sprang up and prices for medium and lower grades rose again closing for the end of 1914 at about 25 per cent. below the high prices ruling at the corresponding date in 1913.
Business in Manila cordage fell off in some quarters owing to the war but on the whole this was more than made up for by the increased demand from transports, etc., the total turnover of the factory comparing very favourably with that of any previous year.
Cement. The demand throughout the Far East was fairly well maintained during 1914 although enquiries from the Philippines were less than in previous years owing to the decrease in Government work.
At the outbreak of war shipments from Europe were delayed and although the volume of business decreased, the demand on Eastern manufacturers remained normal.
The Green Island Cement Company, Limited, is still suffering from the difficulty which exists in obtaining Kwangtung limestone.
Local selling prices have dropped to meet the competition of inferior Chinese cement, and European, Japanese and Haiphong brands cannot be laid down here at remunerative rates.
16
Sugar Refineries.-Prices ruled low during the first seven months of 1914, with keen competition from Japanese and Java sugars. On the outbreak of war the Home Government bought largely in Java, and prices were forced up there by over 50 per cent. This of course reacted on refineds; with the high prices and reduced supplies thus resulting business during the latter part of the year was considerably below normal but at good profits for the holders of early purchased raws. Demand has been further curtail- ed by financial difficulties due to the falling off in China's export trade, but on the whole the output of the Colony's Refineries was well maintained.
Cotton Spinning.-Owing to the difficulty of securing native labour, the enhanced cost of production, and the disadvantages in the matter of Chinese fiscal charges as compared with Shanghai, the shareholders of the local mill decided to transfer the machinery and undertaking to Shanghai. Work was therefore stopped at the the end of October.
The year 1914 has been most unsatisfactory for all engaged in the Cotton Yarn trade. The heavy fall in Cotton values in the early part of the year demoralized the market for a while, but matters were improving when the outbreak of the European war in August brought about a further heavy decline in prices and also great financial stringency amongst the Chinese. Dealers were unable to fulfil their obligations, and the burden has therefore fallen upon the importers.
Rope Manufacturing.-For the first half of 1914 prices of Manila Hemp gradually declined until the outbreak of war in August when the market there collapsed entirely and all business was paralysed, quotations becoming quite nominal. Towards the end of the year as the freight market began to settle down and tonnage became available a good demand sprang up and prices for medium and lower grades rose again closing for the end of 1914 at about 25 per cent. below the high prices ruling at the corresponding date in 1913.
Business in Manila cordage fell off in some quarters owing to the war but on the whole this was more than made up for by the increased demand from transports, etc., the total turnover of the factory comparing very favourably with that of any previous year.
Cement. The demand throughout the Far East was fairly well maintained during 1914 although enquiries from the Philippines were less than in previous years owing to the decrease in Govern- ment work.
At the outbreak of war shipments from Europe were delayed and although the volume of business decreased, the demand on Eastern manufacturers remained normal.
The Green Island Cement Company, Limited. is still suffering from the difficulty which exists in obtaining Kwangtung limestone.
Local selling prices have dropped to meet the competition of inferior Chinese cement, and European, Japanese and Haiphong brands cannot be laid down here at remunerative rates.
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