HONG KONG, 1912.
235
11
descriptions of coal being imported in but small quantities. None arrived from either Australia or Labuan, and but one cargo from England, except that imported by the Admiralty from Cardiff.
Cotton, including cotton yarn and cotton piece goods, show an increase of 20,552 tons or 51.4 per cent., which seems to be a genuine increase, and not due solely to a larger proportion of the imports being reported as cotton instead of general cargo. The reason for this phenomenal increase is not far to seek. The trade in China, after a total cessation during the last three months of 1911 and the first three months of 1912, on account of the Revolution in that country, recommenced, and gradually assumed large proportions. These soon still further increased, partly owing to the assumption, by a large percentage of the population, of European dress, which opened up a new trade (now rapidly declining), and partly to the disappearance of the old stocks in the hands of the native merchants, and the necessity for their replenishment. The high rate of exchange was also a factor in increasing the trade, although the unprecedented demand caused enhanced prices in spite of it. It is of interest to note that this large increase in imports does not include the large and increasing quantity of native-grown cotton spun in the Colony, and re-exported as yarn.
Flour.-Here an increase of 16,620 tons, or 20 per cent., was reported. This is explained by the prices being moderate on account of the high rate of exchange. The wheat crop in North China, also, has been poor for the past two seasons, thereby creating a demand for foreign flour, while the Chinese are quickly learning new uses for this commodity, which in many parts is taking the place of rice. Among these is a very fine description of vermicelli, now manufactured at Amoy and Chefoo, which is in great demand, and 20 per cent. of the flour imported at Amoy (through Hong Kong) is used for this purpose; considerable quantities are consumed at Amoy and Chefoo and large shipments are made to Hong Kong, Canton, the Philippine Islands, Singapore, and other ports out of China. This increased use of flour is evident in the Colony, being noticeable even among the boat population of the harbour, where it is a common thing to see cakes and "flapjacks" being cooked and eaten, instead of the formerly universal rice.
Kerosene Oil.-Very large reductions are reported in both bulk and case oil imported during the year-of 42 per cent. in the former and 32 per cent. in the latter. Several causes militated to this end. The large stocks in hand at the commencement of the Revolution in China; the virtual total cessation of trade until well on in the year 1912; and the high freight rates, which have increased by more than 100 per cent. in twelve months.
The trade is now restored to its usual proportions, if not still increasing. Out of 105,425 tons imported during 1912, 15,859 tons, or 15 per cent., arrived during the month of December, which seems to point to an increased demand in view of the high freight rates now prevailing.
Liquid Fuel shows an increase of 2,724 tons imported, or 154 per cent. This is due to the greater number of vessels now using this form of fuel instead of coal.
1904-1919
HẠNG KONG, 1912.
235
11
descriptions of coal being imported in but small quantities. None arrived from either Australia or Labuan, and but one cargo from England, except that imported by the Admiralty from Cardiff.
Cotton, including cotton yarn and cotton piece goods, show an increase of 20,552 tous or 514 per cent., which seems to be a genuine increase, and not due solely to a larger proportion of the imports being reported as cotton instead of general cargo. The reason for this phenomenal increase is not far to seek. The trade in China, after a total cessation during the last three mouths of 1911 and the first three months of 1912, on account of the Revolution in that country, recommenced, and gradually assumed large proportions. These soon still further increased, partly owing to the assumption, by a large percentage of the population, of European dress, which opened up a new trade (now rapidly declining), and partly to the disappearance of the old stocks in the hands of the native merchants, and the necessity for their replenishment. The high rate of exchange was also a factor in increasing the trade, although the unprecedented demand caused enhanced prices in spite of it. It is of interest to note that this large increase in imports does not include the large and increasing quantity of native-grown cotton spun in the Colony, and re- exported as yarn.
Flour.-Here an increase of 16,620 tons, or 20 per cent., was reported. This is explained by the prices being moderate ou account of the high rate of exchange. The wheat crop in North China, also, has been poor for the past two seasons, thereby creating a demand for foreign flour, while the Chinese are quickly learning new uses for this commodity, which in many parts is taking the place of rice. Among these is a very fine description of vermicelli, now manufactured at Amoy and Chefoo, which is in great demand, and 20 per cent. of the flour imported at Amoy (through Hong Kong) is used for this purpose; consider able quantities are consumed at Amoy and Chefoo and large ship- ments are made to Hong Kong, Canton, the Philippine Islands, Singapore, and other ports out of China. This increased use of flour is evident in the Colony, being noticeable even among the boat population of the harbour, where it is a common thing to see cakes and "flapjacks" being cooked and eaten, instead of the formerly universal rice.
Kerosene Oil.-Very large reductions are reported in both bulk and case oil imported during the year-of 42 per cent. in the former and 32 per cent. in the latter. Several causes militated to this end. The large stocks in hand at the commencement of the Revolution in China; the virtual total cessation of trade until well on in the year 1912; and the high freight rates, which have increased by more than 100 per cent. in twelve months.
The trade is now restored to its usual proportions, if not still increasing. Out of 105,425 tons imported during 1912. 15,859 tons, or 15 per cent., arrived during the month of December. which seems to point to an increased demand in view of the high freight rates now prevailing.
Liquid Fuel shows an increase of 2,724 tons imported, or 154 per cent. This is due to the greater number of vessels now using this form of fuel instead of coal.
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