470
Hong Kong Annual Administration Reports, 1841-1941
SO
Fran
pression in the trade in woollens continued, and high priced stocks carried from 1920 remained unsold. At the beginning of the year there were heavy stocks of raw silk and America bought at advancing prices, with few offers from Lyons, and later on Japan entered the market, the prices became too high for American purchasers, and stocks began to accumulate at Canton. Both the import and export of rice suffered from the uncertainty produced by instable exchange, supply exceeding demand and lowering prices. The raw sugar market also experienced falling prices; in some cases even the cost of production was not covered. Coal prices at the beginning of the year were low but with the closing down of many mines in Japan prices rose and Cardiff coal entered the market as a serious competitor. Prices for soy and ginger and matting declined, and for woodoil and groundnuts rose slightly. Some business was done in Galangal and human hair, but little was reported with Yunnan Tin, bristles, feathers, aniseed oil, cassia oil and sundries. Business in the metal market was fair, with dealers buying sparingly during the first six months; but a considerable drop in prices followed the entry of Germany into the market and freight rates also fell. A considerable number of motor cars, more especially the cheaper American makes, were sold during the first half of the year.
Public Works.-1. COMPLETED :-(a) Quarters for senior and subordinate European Officers at Leighton Hill, Severn Road, and Happy Valley. (b) Road contouring south side of Mount Davis linking Pokfulam Road with Victoria Road; first section of road from Tytam Gap to Shek O. (c) Additional rising main to the Peak; Water Supply installations to Repulse Bay and Fan Ling: replacement of 12″ main by 18″ main from Kowloon filter beds to Yaumati. (d) Ap Lei Chau Reclamation Scheme. (e) Queen Victoria Street ferry pier. (f) "Aga" light towers at Lam Tong and Tong Ku Islands and the Channel Rocks.
470
Hong Kong Annual Administration Reports, 1841-1941
SO
Фран
pression in the trade in woollens continued, and high priced stocks carried from 1920 remained unsold. At the beginning of the year there were heavy stocks of raw silk and America bought at advancing prices, with few offers from Lyons, and later on Japan entered the market, the prices became too high for American purchasers, and stocks began to accumulate at Canton. Both the import and export of rice suffered from the uncertainty produced by instable exchange, supply exceeding demand and lowering prices. The raw sugar market also experienced falling prices; in some cases even the cost of production was not covered. Coal prices at the beginning of the year were low but with the closing down of many mines in Japan prices rose and Cardiff coal entered the market as a serious competitor. Prices for soy and ginger and matting declined, and for woodoil and groundnuts rose slightly. Some business was done in Galangal and human hair, but little was reported with Yunnan Tin, bristles, feathers, aniseed oil, cassia oil and sundries. Business in thre metal market was fair, with dealers buying sparingly during the first six months; but a con- siderable drop in prices followed the entry of Germany into the market and freight rates also fell. A consider- able number of motor cars, more especially the cheaper American makes, were sold during the first half of the year.
Public Works.-1. COMPLETED :-(u) Quarters for senior and subordinate European Officers at Leighton Hill, Severn Road, and Happy Valley. (b) Road contour- ing south side of Mount Davis linking Pokfulam Road with Victoria Road; first section of road from Tytam Gap to Shek O. (c) Additional rising main to the Peak; Water Supply installations to Repulse Bay and Fan Ling: replacement of 12′′ main by 18′′ main from Kowloon filter beds to Yaumati. (d) Aplichau Reclamation Scheme. (e) Queen Victoria Street ferry pier. (f) "Aga" light towers at Lam Tong and Tong Ku Islands and the Channel Rocks.
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