E 7
38. Besides these two certificates there are two others. A form "N" certificate is endorsed by the Superintendent in the case of 'spun, woven and finished goods,' to which reference was made in the 1937 report. Such endorsements were made in 1,065 cases during 1938. There is also the "late certificate" used in cases where goods have left the Colony uncertificated owing to errors. It merely certifies that the factory concerned does usually manufacture that particular type of goods and that there is no reason to suppose that a certificate would not have been issued had application been made early enough for the consignment to be examined by the department's inspector, a very non-committal document, as to the ultimate effect of which the department has no information, though the continuance of requests suggests that there is some virtue in it. Cases covered by old certificates alone are affected by this. In all 149 such late certificates were issued.
39. In all 17,467 certificates were issued in 1938, as against 19,088 in 1937. It must be remembered, however, that these figures represent only the numbers of consignments and not their bulk, and there is reason to believe that the total returns of this certificated trade fell little below those of 1937, though there is no doubt that the West Indies trade experienced a certain set-back, partly owing to previous over-buying there.
40. At the beginning of 1938 there were 346 factories registered; inadvertently twelve factories too many were included in the 1937 report. This year 68 new factories were registered as against 72 in 1937, while 12 factories were removed from the register as compared with 16 in 1937. In two or three cases factories were summarily struck off the list by the Superintendent owing to the discovery of irregularities. The others closed down. Thus at the close of the year there were 402 factories on the register, of which 209 have been costed by chartered accountants and qualify for the new certificates.
41. Reference was made in the 1937 report to the difficulty in obtaining artificial silk yarn from empire sources. The difficulty is no longer apparent as the channels of supply have been widened and the demands made by factories are now met. One factory has shown commendable initiative in producing Chinese silk which qualifies under "spun, woven and finished" requirements. The silk is obtained from China in the cocoon and the silk thread is spun from it in Hong Kong, woven into fabric in Hong Kong and finished as a regulated textile in Hong Kong.
X.-TRADE STATISTICS.
42. In 1936 improved trade conditions in the Colony were predicted and this note of optimism has been justified by the trade returns for the years 1937 and 1938. A steady increase was noted from the commencement of 1937 and this continued until the final quarter of 1938, when a decline set in which was very largely due to the Japanese military occupation of certain areas in South China.
43. The total visible trade of the Colony during the year 1938 amounted to a value of $1,130.1 millions as compared with $1,084.4 millions in 1937 and $803.3 millions in 1936, representing increases of 4.2% in 1938 as compared with 1937 and 40.7% as compared with 1936. But in terms of quantities, according to an index number constructed at the Statistical Department of some 185 of the chief articles handled in the Colony, the volume of trade decreased by 15.2% in 1938 as compared with 1937, and increased by only 20.5% as compared with 1936. This apparent paradox can be accounted for by the fact that during the year 1938 several commodities were handled at higher prices but in lesser quantities, although exchange remained steady.
44. There was a large decrease in the import trade from Japan which declined from $58.0 millions in 1937 to $18.8 millions in 1938, representing only 3.0% of the total imports as compared with 9.4%.
E 7
It
38. Besides these two certificates there are two others, A form "N" certificate is endorsed by the Superintendent in the case of 'spun, woven and finished goods,' to which reference was made in the 1937 report. Such endorsements were made in 1,065 cases during 1938. There is also the "late certificate" used in cases where goods have left the Colony uncertificated owing to errors. merely certifies that the factory concerned docs usually manufacture that particular type of goods and that there is no reason to suppose that a certificate would not have been issued had application been made early enough for the consignment to be examined by the department's inspector, à very non-committal document, as to the ultimate effect of which the department has no information, though the continuance of requests suggests that there is some virtue in it. Cases covered by old certificates alone are affected by this. In all 149 such late certificates were issued.
39. In all 17,467 certificates were issued in 1938, as against 19,088 in 1937. It must be remembered, however, that these figures represent only the numbers of consignments and not their bulk, and there is reason to believe that the total returns of this certificated trade fell little below those of 1937, though there is no doubt that the West Indies trade experienced a certain set-back, partly owing to previous over-buying there.
40. At the beginning of 1938 there were 346 factories registered; inadver- tently twelve factories too many were included in the 1937 report. This year 68 new factories were registered as against 72 in 1937, while 12 factories were removed from the register as compared with 16 in 1937. In two or three cases factories were summarily struck off the list by the Superintendent owing to the discovery of irregularities. The others closed down. Thus at the close of the year there were 402 factories on the register, of which 209 have been costed by chartered accountants and qualify for the new certificates.
41. Reference was made in the 1937 report to the difficulty in obtaining artificial silk yarn from empire sources. The difficulty is no longer apparent as the channels of supply have been widened and the demands made by factories are now met. One factory has shown commendable initiative in producing Chinese silk which qualifies under "spun, woven and finished" requirements. The silk is obtained from China in the cocoon and the silk thread is spun from it in Hong Kong, woven into fabric in Hong Kong and finished as a regulated textile in Hong Kong.
X.-TRADE STATISTICS.
42. In 1936 improved trade conditions in the Colony were predicted and this note of optimism has been justified by the trade returns for the years 1937 and 1938. A steady increase was noted from the commencement of 1937 and this continued until the final quarter of 1938, when a decline set in which was very largely due to the Japanese military occupation of certain areas in South China.
43. The total visible trade of the Colony during the year 1938 amounted to a value of $1,130.1 millions as compared with $1,084.4 millions in 1937 and $803.3 millions in 1936, representing increases of 4.2% in 1938 as compared with 1937 and 40.7% as compared with 1936. But in terms of quantities, according to an index number constructed at the Statistical Department of some 185 of the chief articles handled in the Colony, the volume of trade decreased by 15.2% in 1938 as compared with 1937, and increased by only 20.5% as compared with 1936. This apparent paradox can be accounted for by the fact that during the year 1938 several commodities were handled at higher prices but in lesser quantities, although exchange remained steady.
44. There was a large decrease in the import trade from Japan which declined from $58.0 millions in 1937 to $18.8 millions in 1938, representing only 3.0% of the total imports as compared with 9.4%.
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