India and the Persian Gulf, in common with markets the world over, have felt the pinch of a general shortage of supply, and there were demands from all sources for Refineds, much in excess of Hongkong's capacity for export.
Yarn.-The quantity of Yarn imported into the Colony during 1919 was greater than during any of the war years, and the market on the whole kept very steady.
Yarn prices dropped slightly at the commencement of the year and reached their lowest in April/May, when 10s. Yarn was sold at $190 per bale. The price then advanced and at the end of the year business was done at over $260. Yarn of higher counts, say 20s., rose from $260 to $365.
The total quantity of Indian Yarn imported during the year amounted to 142,000 bales, and 22,000 bales were brought forward from the previous year.
Clearances were very good and totalled 147,000 bales, leaving a carry over of 17,000 bales.
Speaking generally, the year has been a profitable one for both merchants and dealers.
Cotton.-Liverpool Cotton in January was quoted at 20'04d. per lb. for spot and during the end of the month it receded a few points and steadily declined until about the end of March it was quoted at 15.86d. for ready and 13.61d. for forward. It then rose steadily, with very few set-backs, until the end of July when it was quoted at 21.44d. for spot, 21.71d. and 21.79d. for September/October respectively. It again declined and during September it touched as low as 17.60d. for spot. After reaching this point it again firmed up and steadily advanced to 27.50d. at which it was quoted at the end of the year.
The year opened with Exchange at 3/4. It declined slowly until by the beginning of March it reached 3/03. It then reacted and has steadily risen with a few fluctuations until at the close of the year T/Ts. on London were quoted at 4/10.3.
Trading has been rendered somewhat difficult by the various alterations in the value of the Rupee which in January was equivalent to 1/6 and rose at the end of the year to 2/5.4.
Rope Making.-The demand for Manila Cordage was fairly good but the total turnover showed a falling off from that of the previous twelve months. The high rates of exchange and freight which ruled throughout the year affected considerably our exports to gold standard countries.
Cement Manufacture. The demand continued good during the year and tonnage was more plentiful. The high exchange again interfered to a very large extent with exports to gold standard countries. On the whole the turnover compared favourably with the last three years.
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India and the Persian Gulf, in common with markets the world over, have felt the pinch of a general shortage of supply, and there were demands from all sources for Refineds, much in excess of Hongkong's capacity for export.
Yarn.-The quantity of Yarn imported into the Colony during 1919 was greater than during any of the war years, and the market on the whole kept very steady.
Yarn prices dropped slightly at the commencement of the year and reached their lowest in April/May, when 10s. Yarn was sold at $190 per bale. The price then advanced and at the end of the year business was done at over $260. Yarn of higher counts, say 20s., rose from $260 to $365.
The total quantity of Indian Yarn imported during the year amounted to 142,000 bales, and 22,000 bales were brought forward from the previous year.
Clearances were very good and totalled 147,000 bales, leaving a carry over of 17,000 bales.
Speaking generally, the year has been a profitable one for both merchants and dealers.
Cotton.-Liverpool Cotton in January was quoted at 20'04d. per lb. for spot and during the end of the month it receded a few points and steadily declined until about the end of March it was quoted at 15-86d. for ready and 1361d. for forward. It then rose steadily, with very few set-backs, until the end of July when it was quoted at 21 44d, for spot, 21:71d. and 21-79d. for September/Octo- ber respectively. It again declined and during September it touched as low as 17 60d. for spot. After reaching this point it again firmed up and steadily advanced to 27 50d. at which it was quoted at the end of the year.
The year opened with Exchange at 3/4. It declined slowly until by the beginning of March it reached 3/03. It then reacted and has steadily risen with a few fluctuations until at the close of the year T/Ts. on London were quoted at 4/103.
Trading has been rendered somewhat difficult by the various alterations in the value of the Rupee which in January was equi- valent to 1/6 and rose at the end of the year to 2/54.
Rope Making--The demand for Manila Cordage was fairly good but the total turnover showed a falling off from that of the previous twelve months. The high rates of exchange and freight which ruled throughout the year affected considerably our exports to gold standard countries.
Cement Manufacture. The demand continued good during the year and tonnage was more plentiful. The high exchange again interfered to a very large extent with exports to gold standard countries. On the whole the turnover compared favourably with the last three years.
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