Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS-ANNUAL
when the increasing tightness of money, coupled with advances in rates, checked business very considerably. Demand from the Persian Gulf continued strong, but business bulked much less than in 1917 owing to the very restricted tonnage available, the greater part of the carrying being done by Japanese bottoms.
Cotton Yarn.-The influence of the War upon the yarn trade (as upon all business) has been more acutely felt than ever during the past year, and although there has been a wide range of fluctuations in price, the trading has been generally profitable for both merchants and dealers.
American cotton in Liverpool was priced at 23.20 pence per lb. at the beginning of the year, and at 22.20 at the close. The highest point reached was 25.94 in September.
The year opened with Exchange at 3/- T/T. It rose as high as 3/8 in September, and closed at 3/4½.
The quantity of yarn (as of all merchandise) coming to the Colony has been considerably below that of former years, but statistics based on values, however, would probably not reveal this conclusively, owing to the high cost of raw materials, freight, insurance, and other charges, which of course swell the value figures as compared with those of quantity.
The off-take by Southern China has been curtailed owing to the high prices now required for most goods, and to the decreased purchasing power due to war conditions adversely affecting China's export trade.
Trade has suffered by the political chaos that exists in China and there has been a lack of confidence in native circles caused by many of the usual trade routes being infested by pirates and bandits recruited from the disbanded but unpaid soldiery, which has served to check the free flow of goods and money.
The statistical position of trade in most goods however is sound, and granted settled conditions the prospects of business are encouraging.
Rope Making. The demand for Manila cordage was not so good and the total turnover showed a falling off from that of the previous twelve months. The high cost of raw materials and increased rates of freight were maintained throughout the year and these together with the high exchange greatly affected business with gold standard countries. Not only this, but the consumption of rope was naturally affected by war conditions, and the demand for cordage especially towards the end of the year fell off considerably.
Cement Making.-The demand continued good during the year although there were still difficulties in obtaining freight room, and the high exchange interfered to a large extent with exports to gold standard countries. It was necessary to raise selling prices during the year owing to the high cost of coal, but on the whole the turnover compares favourably with the last two years.
Tin.-Business in this commodity remained about the same as in 1917. Imports from Yunnan during the year amounted to about 12,500 tons, and from Kwangsi to about 200 tons, as against 11,000 tons and 200 tons respectively in 1917. From Java 500 tons were imported.
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Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS-ANNUAL
when the increasing tightness of money, coupled with advances in rates, checked business very considerably. Demand from the Persian Gulf continued strong, but business bulked much less than in 1917 owing to the very restricted tonnage available, the greater part of the carrying being done by Japanese bottoms.
Cotton Yarn.-The influence of the War upon the yarn trade (as upon all business) has been more acutely felt than ever during the past year, and although there has been a wide range of fluctuations in price, the trading has been generally profitable for both merchants and dealers.
lb.
American cotton in Liverpool was priced at 23-20 pence per at the beginning of the year, and at 22:20 at the close. ~The highest point reached was 25 94 in September.
The year opened with Exchange at 3/-T/T. It rose as high as 3/8 in September, and closed at 3/41.
The quantity of yarn (as of all merchandise) coming to the Colony has been considerably below that of former years, but statistics based on values, however, would probably not reveal this conclusively, owing to the high cost of raw materials, freight, insurance, and other charges, which of course swell the value figures as compared with those of quantity.
The off-take by Southern China has been curtailed owing to the high prices now required for most goods, and to the decreased purchasing power due to war conditions adversely affecting China's export trade.
Trade has suffered by the political chaos that exists in China and there has been a lack of confidence in native circles caused by many of the usual trade routes being infested by pirates and bandits recruited from the disbanded but unpaid soldiery, which has served to check the free flow of goods and money.
The statistical position of trade in most goods however is sound, and granted settled conditions the prospects of business are encourag- ing.
Rope Making. The demand for Manila cordage was not so good and the total turnover showed a falling off from that of the previous twelve months. The high cost of raw materials and increased rates of freight were maintained throughout the year and these together with the high exchange greatly affected business with gold standard countries. Not only this, but the consumption of rope was naturally affected by war conditions, and the demand for cordage especially towards the end of the year fell off considerably.
Cement Making.-The demand continued good during the year although there were still difficulties in obtaining freight room, and the high exchange interfered to a large extent with exports to gold standard countries. It was necessary to raise selling prices during the year owing to the high cost of coal, but on the whole the turnover compares favourably with the last two years.
Tin.-Business in this commodity remained about the same as in 1917. Imports from Yunnan during the year amounted to about 12,500 tons, and from Kwangsi to about 200 tons, as against 11,000 tons and 200 tons respectively in 1917. From Java 500 tons were imported.
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