HONGKONG, 1920.
(b).-INDUSTRIES.
(1).-Under European Management.
9
Engineering and Shipbuilding.-The figures are as follows for the year :-
Hongkong and Whampoa Dock Co., Ltd. 5 vessels of 37,935 gross tons and 11,500 I.H.P. Taikoo Dockyard and Eng. Co., Ltd. 5 W. S. Bailey & Co., Ltd. 99 ** 13,660 1,197 Kwong Hip Lung Co., Ltd. » 9,700 ++ ** * 1,336 " 1 50 ** Kwong Fat & Co. ** 356 30 * 1,374 " ** ** 85 127 Kwong Sang Loong Hung Fat ** 2 # 25 # 7 48 11 276 ** A King ** Total 62 vessels of 54,656 gross tons and 22,975 I.H.P.Sugar Refineries.--1920 was a phenomenal year. Prices of Raw Sugar fluctuated but very little during the first few months of the year, but in April news was received of a very large reduction in the estimate of the Cuban Crop, which caused a rapid rise in prices the world over, raws in Java rising from 40 to 75 Guilders per picul between April and May, whilst Cubans which were quoted at about 9 cents previous to the revised estimate reached over 21 cents. After large quantities of Sugar had passed hands at these exceptional rates a slump took place, which was largely brought about by the over-anxiety of America to fill her shortages and prices fell away equally rapidly, the actual difference between the highest and lowest prices touched between the middle of May and December being 61 Guilders a picul.
The Refined markets follow the upward trend of prices to a certain extent in April and May and satisfactory sales were made to India, America and Europe, both for prompt and forward deliveries.
Demand from China was consistent throughout the year but for the first six months prices were disappointing.
Yarn.-The Yarn trade during 1920 was very unsatisfactory and resulted in severe losses to native dealers, some of the smaller ones being forced to close down.
Trade was brisk until March but the Japanese financial crisis and the raising of the embargo on Japanese Yarn exports brought down prices with a run and so far there has not been any reasonable reaction from this collapse.
The total quantity of Indian Yarn imported into the Colony during the Year amounted to 120,000 bales and 17,000 bales were brought forward from the previous year.
Clearances totalled 112,000 bales, leaving a carry-over of 25,000 bales.
Cotton-Middling American Cotton in Liverpool was quoted in January at 28·50d. for spot, it declined to 27·38d. at the end of January, but then rose until on the 18th February it reached the phenomenal height of 31·16d. It has since gradually fallen away, with an occasional setback, to 8·65d. at the end of the year (lowest since August, 1916).
The year opened with Exchange at 4/11 T/T. It advanced rapidly and reached its topmost height of 6/2 T/T. on 10th February. It then reacted and declined steadily with one or two small setbacks until the close of the year, when T/Ts. on London were quoted at 3/2.
1920-1930
HONGKONG, 1920.
(b).-INDUSTRIES.
(1).-Under European Management.
9
9
Engineering and Shipbuilding.-The figures are as follows for the year :-
Hongkong and Whampoa Dock Co., Ltd.
Taikoo Dockyard and Eng. Co., Ltd.
W. S. Bailey & Co., Ltd.
Kwong Hip Lung Co., Ltd.
Kwong Fat & Co.
Kwong Sang Loong Hung Fat
A King
5 vessels of 37,935 gross tons and11,500 I.H.P.
5
"
99
**
13,660 1,197
»
9,700
++
**
*
1,336
"
1
50
**
**
356
30
*
1,374
"
**
**
85
127
**
2
#
25
#
7
48
11
276
**
**
Total
.62 vessels of 54,656 gross tons and 22,975 I.H.P.
Sugar Refineries.--1920 was a phenomenal year. Prices of Raw Sugar fluctuated but very little during the first few months of the year, but in April news was received of a very large reduction in the estimate of the Cuban Crop, which caused a rapid rise in prices the world over, raws in Java rising from 40 to 75 Guilders per picul between April and May, whilst Cubans which were quoted at about 9 cents previous to the revised estimate reached over 21 cents. After large quantities of Sugar had passed hands at these exceptional rates a slump took place, which was largely brought about by the over-anxiety of America to fill her shortages and prices fell away equally rapidly, the actual difference between the highest and lowest prices touched between the middle of May and December being 61 Guilders a picul.
The Refined markets follow the upward trend of prices to a certain extent in April and May and satisfactory sales were made to India, America and Europe, both for prompt and forward deliveries.
Demand from China was consistent throughout the year but for the first six months prices were disappointing.
Yarn.-The Yarn trade during 1920 was very unsatisfactory and resulted in severe losses to native dealers, some of the smaller ones being forced to close down.
Trade was brisk until March but the Japanese financial crisis and the raising of the embargo on Japanese Yarn exports brought down prices with a run and so far there has not been any reasonable reaction from this collapse.
The total quantity of Indian Yarn imported into the Colony during the Year amounted to 120,000 bales and 17,000 bales were brought forward from the previous year.
Clearances totalled 112,000 bales, leaving a carry-over of 25,000
bales.
Cotton-Middling American Cotton in Liverpool was quoted in January at 28-50d. for spot, it declined to 27·38d. at the end of January, but then rose until on the 18th February it reached the phenomenal height of 31-16d. It has since gradually fallen away, with an occasional setback, to 8-65d. at the end of the year (lowest since August, 1916).
The year opened with Exchange at 4/11 T/T. It advanced rapidly and reached its topmost height of 6/2 T/T. on 10th February. It then reacted and declined steadily with one or two small setbacks until the close of the year, when T/Ts. on London were quoted at 3/2.
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