1904-1919
HONG KONG, 1914.
309
15
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.
Unless shipments of metal and other building materials are interfered with by the war, 1915 should be a good year for Far Eastern cement concerns, as supplies of Belgian and other Continental cement will probably be unobtainable.
(ii.)—Under Chinese Management.
Tin.-The tin business in Hongkong is annually worth some 12 millions. All tin comes from Yunnan. There are no smelteries in the Colony but there are six refineries, where the Yunnan pig tin is refined and loses some 2 to 3 per cent. in the process.
1913 1914 Imports. 6,153 Tons. 6,741 Tons. Exports. 5,734 Tons. 5,267 Tons.The imports are all in Yunnan unrefined tin and the exports in refined tin.
Generally speaking, about 334 tons are exported to Japan yearly, and 1,336 tons to Shanghai. The balance goes to Europe and America. The war affected the trade last year as little tin went to Europe.
Rattan and Fibre Furniture.-The chair export business amounted only to about half of that done last year. Sea grass export was about $1,000,000 less, while hemp export showed a decided improvement.
1904-1919
HONG KONG, 1914.
309
15
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 com- paring 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.
Unless shipments of metal and other building materials are interfered with by the war, 1915 should be a good year for Far Eastern cement concerns, as supplies of Belgian and other Continental cement will probably be unobtainable.
(ii.)—Under Chinese Management.
Tin.-The tin business in Hongkong is annually worth some 12 millions. All tin comes from Yunnan. There are no smelteries in the Colony but there are six refineries, where the Yunnan pig tin is refined and loses some 2 to 3 per cent. in the process.
1913 1914
Imports. 6,153 Tons. 6,741 Tons.
Exports. 5,734 Tons. 5,267 Tons.
The imports are all in Yunnan unrefined tin and the exports in refined tin.
Generally speaking, about 334 tons are exported to Japan yearly, and 1,336 tons to Shanghai. The balance goes to Europe and America. The war affected the trade last year as little tin went to Europe.
Rattan and Fibre Furniture.-The chair export business amounted only to about half of that done last year. Sea grass export was about $1,000,000 less, while hemp export showed a decided improvement.
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