1921-07-27 — Page 9

WEDNESDAY, JULY 27, 1921.

"CANTON TRADE.

REPORT FOR 1920.

The Canton Trade report for 1920,

compiled by Mr. A. Wilson, Commis sioner of Customs, is as follows :-

Canton has again had a trying year,

both from a governmental and com- mercial point of view. The oat

standing features marking the year

of

&#

from rice

that

בים

Annam

THE CHINA MAIL.

remained

four or five

concerns, December

of the silk market. The year opened created considerable consternation schedule of sailings, and casual visits/coal ought to steadily decrease, not of 150 caska Had the military and it is therefore obvious to what an heading the tables give for foreigners

broke out in the North River d

chun. & Yunnanese commander. A

incident disclosed the covert ambitions

of the waugsi party, under the tutelage of Lu Jung-t'ing, the overlord of Kwangtung's neighbouring province and led to the dissolution of

the

friction in Government circles, owing,

Minister. Dr. Wu Ting-fan, to the squandering in military rates of the funds derived from the Southern Government's share of the Castrans

countenance such wasteful capendi

withholding of further releases of Customs surpins revenue from Peking:

par-

also worthy of record.

very well during

95 cents for packet oil and 85 cents

us:

to Wuchow soen reached the total of

The coa-

At the same time a mutiny occurred year for them, mainly because of the whereas Kaiping coal shows an in-which heading there is a regrettable that employs several hundred female and bankruptcy ocured in some at the Bogus Farts, which went over high cost of steamers during the late crease of pearls 10 times that amount. decrease of $5,000 piculs. Produc-workers. to the Cantonese cause, thus throw-war in Europe, many of which are Steamers have been coming direct tion was abundant, but the expart (b.) Imports-Native cotton cloth quarter saw another heavy up ing open to attack the right flank of now idle cwing to general economic from Chinwaastao during the year market was smost lifeless so that is certainly the most important item.tion of har silver, which statistion the Kwangi troops at Waichow, depression. Another factor

with greater regularity, as Kaiping dealers have suffered considerably This commodity has displayed con-show to have been worth as much as The latter, however, still fought affected local shipping probably quite coal, formerly discharged in Hong- through over-accumulation. Canton siderable activity throughout the H. Ts. 11,000,000. Movements of stubbornly and retreated sullenly to as much was

kong, assumed embargo

a foreign status cement, however, is improving, year, stimulated by the boycott move treasure coastwise include $7 milliers Sheklong, on the Canton-Kowloon exports

through transhipment. Consump and exports have increased about ment against grade goods in 1919.tacks worth of syeve from Shanghai, Railway, along which they retreated and Sian. The coasting vessels of tion als by stean-latches was 38,000 picus. The works in Hans One-tenth, however, of the whole and exports of coin were about # slowly in the direction of Canton, the three main companies, viz. somewhat reduced, owing to political turned out 130.00 casks, which quantity. required for local consump-Tis. 300,000 to Shanghai and H. T doing considerable damage to the line Messrs. Butterfield and wire, Jardine, troubles inland, and prices have represent, roughly, an increase of tion was imported from Shanghai. 170.000 to Wuchow. This West en route. Meanwhile the action of Matheson, & Co., and the Chias

normal. Considering 30 per cent. on the previous year's Still, the statistics show that native River movement of coin was mostly 1920 as retife my hand then the General Land Wei in Canton, though Merchants Steam. Navigation Com-t the province of Kwangtung working. Eight kilas are in daily grey shirtings advanced by 14,000 on government act

is rich in coal deposits, the import of operation, with a producing capacity pieces and nankeens by 3,000 pieuls, meeting with popular approval, pany, bare maintained a frequent increased political strife and the failure

Passenger Trafic.--Under this throughout the city, and fear of from Norwegian, French, Russian. increase, under a capable govern- operations not impeted the supply extent the local manufacture has inwards by sea 7,000 cidd, with a complete alvence of the re-

ment. The increase in value under of stone from the North River the increased. Other noteworthy 9,000 outwards; while the figures for grettable student action against low-interprovincial conflicts between the and Siamese ships, with beans from gral goods, which during 1919 had various forces of both Cantonese and Dairen, coal from Hangay, and rice aniline dres of H. Ts. 635,000 quantity would have been much creases

are groundnuts (700.000 Chinese passengers run as high as sassin of the arm of during the Kwangsi soldiery stationed in and from Wuhu, have to be reconled shows how very much the colours greater. The cost per cask ranged pienke) and bear oil (19,000 picals).

560,000 inwards and ant wards. The and greatly hampered trade. The around the city induced thousands The reappearance of the Portuguese were needed and the market would from 54 in January to So in August, Inland Transit.-(.) Inwards foreign excess of 2,000 each way over prospects for the year, therefore, look. of the inhabitants to betake thema- flag in October on the Macao run is have been much brisker had in- at which price it stood at the end of (under Transit Pass).-Trac inland the 1919 figures covers a revival of ternecine strife not made dealers the year. The export of hides fell has been subject to great interruption, Americau paring parties, who have ed brighter: but in March hostilities elves to Hongkong and Macao with

(b.) Under Inland Steam .land hesitate with forward contracts. some 5,000picul, but this is no doubt owing to the commandeering of craft been mueh in evidence during the their families. Every effort was tricts between the armies of Li Ken, made by leading civiliar bodies to rization Rules.-Trac under Inland/ractically all imported dyes are explained by the increase of 15,000 for Government service and party year. Lader Chinese traffic, however, - yuan a Kwangsi leader, and Li Lich. induce Mo Jang-hsin, the Military Steam Navigation Rules maintained / German, though those from the piculs under leather. The keen factions, whose authority was dis-the excess is only about 30,000,

United States supplied most of the competition of the Star Leathertributed in various arcs. rendering figure that would appear to contradict Governor and a native of Kwangsi, its position compromise was arrived at, but the to resign his post quietly; but he in- the first half of the year, as the cost der review there have been some very and though its operations have not precarious value. The issue of passes ed in our first paragraph. 1919, local demand. Daring the year un Company is responsible for this. the inward transit pass of somewhat the already reported exodus mention- sisted on holding on to his position of coal was moderate and the use of the days of the Kwangsi regime had limited, WAS sad refused to recognise the fact that firewood. the supply of which is heavy importations of machinery. Ats yet reached the extent saticipated, I was therefore confined to short dis-however, was also a rear of consider- new plant arrived for the Canton it has been able to hold its own tances and covered principally sugar able unrest, and a very large number not required. Un- at last come to an end. Admiral fortunately. political disturbances Arsenal in October, and other con against similar Hongkong industries. and seaweed only in limited quantities of passengers travelled by rail. After Tang Ting-kuang, was clected Go-marred the last half of the year, and guments for the Kwangtung Electric An increase of 4,000 rolls under and a few Japanese sundries. Re the capitulation of Canton to Gense vernor by popular vote; but still Mo the commandeering of launches brSupply Company and the Canton matting is very appreciable, coauder-veaue from this source fell, therefore. Chieu Ch'iung-ming, the passengers Southern Parliament. The Kwang Jung-hin refused to hand over to various military authorities paralysed Chinese Waterworks account for theing the very unsettled conditions about #k. Tis. 2,000. party's desire for funds to carry the seal of office, and not until the traffic, and owners suffered serious heavy advance in the value of prevailing in Kwangtung. At the out their military projects led to the 25th October, after his vanten had y wing to the difficulty of getting matches regained lost ground some very high basis, due to the heavy died completely from the very com-

(b.) Outicanis (under Transit Cer-16,000, as all who hailed from Kwangsi over 1 million Haikwan taels. Japan close of 1919 prices had reached a fificate). Viz. This lire of trade were naturally anxious to get away. te the objections of the Acting Finance ore than one occasion been their demurrage claitas paid.

decided to

what by an advance of 162,000 demand from both the United States mencement of the occupation of the principally confined to the Cantou- bombed from an aeroplane, did he

The passenger trafic by rail is Foreign which he did quietly, retreating is the under cotton goods did not make it for the raw material. have more The American demand held firm the South-westem defence levied its Railway for the year under review is, Goods-(a.) Imports gross but Kwangtang-made matches, and Europe. so that considerable North River districts by the Yunnan Kowloon Railway. Data of the vocate

Lis position. Ditect and Coastice. The increase though largely dependent on Japan quantities had been contracted for. ese auxiliary army. This army of working of the Canton Kowloon North River with his defeated Kwang sel apparent until the last quarter than supplied local requirements, until the end of May, when the new own inland dues at Shinkwan. with unfortunately, not available for in- revenue surplus and rather than troops. With the defeated Kwang of the year, because supplies from as the export figures prove, which straw was coming in. A slackening the result that a salientan becane cinsion in this report. Throughout ture the venerable statesman with rufe to Kwangi in the North Decembe: quarter. however, the deThe kerosene oil trade would appear and during September, owing to was required to prove that his cargo laving of the Yueh-Han Railway were rather limited. In give an increase of million gross. of the market then became apparent, of very little use to the holder, who the whole rear ao extension of track- troops retreating through Canton abroad day from the Governalent and be-River, there were the certain elements mand was at one time greater than to have had an adverse year; this civil war, the matting districts were was a bona fide foreigner's purchase (wangtung section) has been effected of March. His detion led to the burning, and looting, and that the dealers, on the whole, are quite satis demand was greater than the supply about six weeks later, there was difficult procedure, seeing that piretion work remains the same as took himself to Shanghai at the end of nauch fighting and bloodshed the supply, so that piece goods is not se, however, as the world's cut off. When the market reopened. before he could clear it, a somewhat farther than Shinkwan.

city, most fortunately, escaped all fied with their year's earnings. The hence imports to Centon fell by little or no demand. A falling ex-foreign merchant was readyti pledge before. while the deep well under of the concomitants of bitter civil most marked advances under imports 31 million gallons. There were no change may improve matters, and as ather Souther Government are due principally to the praise of this class are jeans. 2000 pieces: importation of Japanese keroseue; the general economic depression godown.

but himself until the goods were in his erection in 1919 has now been com- Funds under his control as Acting worthy efforts of Generals Li and Wei plain cotton prints, 15.000 pieces but outside Californian imports were abroad makes any extensive demand Alinister for Finance were locked of the foreign Consular representa and yarn-dred flannelettes, 28,000 which is meant American oils not export it is unfortunate to have to transit certificates for foreign machine. The floods in July caused stoppage pfe The foundation for laying ably supported by the same counsels

plaincotton italians, 10,000 pieces; more in evidence than usual, by unlikely. Silk being Canton's staple.

(c) Special-Lader this heading weighing bridges one at Wong ba in Hongkong and Shanghai by legal

comes the free issue of special inland and on at Shinkwan, have been begun. injunctions which resulted from hisves and the restraint of the Canton pieces. Against this. however, traded in by the three main com record an unsatisfactory year. Ex-made Chinese merchandise and free of traffic for two days, as some wash- the remaining mensher November General Ch'en Chiung creases of 15.000 pieces under plain Texas Oil Company, and the Asiatic for all the decrease in export revenue extensively sent inland. The total Letung occurred. During the trouble

On the 2nd there should be considered the de-panies-Standarti uétion.

me people themselves.

Company ports fell by 13.170 piculs, accounting goods, principally four, which is very outs at Yingti. Xinchano, and of the Government. all tisans of the warsi militaristic ning made his triumphai entry into fast black cotton italians and 6.000 Petroleura Company. About 570,- Inflated prices, the outstanding value of inland transit trade for 1920 with the Yunnanese soldie's bag

Canton and was promptly elected pieces under figured lastings, which 000 American gallons of this oil regina, mere bard put to it

Civil Governor and Generalissimo latter diminution, however, was fairly actually reached the Canton market 1920. and in January America. to obtain the necessary fuals to

eature of, 1319, were carried on into was H. Tx. 773,705. the Kwangtung forces. Prior to well compensated for by an increase in bare tins. The phenomenal value beset by fears that the supply of raw,

the lice in March trafic was opened carry on the work of governing their departure the Kwangsi party, of 4,000 pieces under plain lastings of the silver dollar at the beginning silk might be insufficient to keep her exchange and heavy importation; not passengers. Owing to the Kwang-

Treasure.--The steady fall in foreiga erament properties were mortgaged through their local representatives, The trade in cotton yarn was not at of the year doubtless tempted out mills running made

for the conveyance of troops but or sold indiscriminately, and various Messrs. Ten Chan-hstan and Mo all satisfactory imports of Indian side firms to make this experiment. demands. Europe. on

abnormal of bar silver are the outstanding tung-kwangsi conflict in the autumn, other acts of despoliation of Jung-hsin issued a mandate cancelling yarn fell off by 24,000 piculs, and the Prices, rose slightly, in January, re-band, pursued a cautious policy. The market. A perusal of the Treasure berto the 6th November. The number the other features affecting the local money traffic was stopped from the 19th Octo- tu provincial property by the the independence of the province. It Japanese commodity even shows maining constant until October, when American boom, therefore. 3-re. /table shows that imports exceeded of passengers carried during the rear rusal of libraries and arsenal equiport, as Drs. St.r. Yet Ser. and "Wu stockingin various distributing centres rise in November, made the cost 900 per bale in three weeks, and 35,128,282

the by Famounted to about 31.3.1. Goods meat from Kwangrung to Kwangi. created intense anti-Kwangsi feeling-fang, who returze to Cantos of China by speculators was largely

Japanese raw silk was soon selling further shows that the net import of conveyed on this line amounted to Closer investigation to about $1,354. Goods antonget the Cantonese. Matters on the 23ts Noveruber, pucated responsible for this, and prices drop for bulk oil-higher on 31st Decam at Fen-4,300 per bale. A. reaction gold coins was Hk. Tls. 4.279,909, about 800 tons per day, producing in dragged on thus until the late sum- the mandate and re-established the ned steadily, so that several merchants ber than it was of the 1st January, naturally followed, so that by May and of bar silver Hk. Tis. 25,968,371, freight retams about $3,400. The mer, and the policy of the Kwangi Military Gorement of South China. suffered seriously. To illustrate this Prices are likely to go higher, as the price had dropped to Ten 1.260. This resulted in a surplus of small passengers travelling on the Canton- in the Government was bad practically come to a standstit Bombay yarn from January to June fuel oil is very strong in Europe and fargest. American silk-throwing firms so that the esport of silver coin ex-10,693 per day and the receipts to Trade on the West and East Rivers it is only necessary to add that while the demand-for motor spirit and Later, the liquidation of one of the coinage from the army after mintage, Samshui Railway amounted to about apparent in the gradual elimination from Krungtung politics of all Car during the fighting, and it was only was selling at $360 per bale, in the the present supply inadequate. Rice brought the China market almost to ceeded the import by Hk. Tis. 6,305, about $2,364. Tire freight collected tonese elements. One staunch sup end of the year. To these political as low as $230, while the Japanese million piculs. This is accounted stocks on hand. and the only pur-kong bank note rising from 90 perDuring the food season traffic con- with difficulty renewed towards the latter half of the year the price fell and paddy show decrease of 3 a standstill, as Japan bad heavy 601, which accounts also for the Hong on goods was about $15 per day. porter, however, of the Kwangtung tindrances to trade was added an article fell from -persun of Ch'en Ch'iung-ming, former- unusually heavy rainfall-smounting There was consequently a dead loss very full rice crops in spite of an the Levant. Here, however,

$350 to $240. for by the fact that Canton had two chasers fo: a time were Bombay and cent. in January to as bigh as 116 tinned as usual. Daring the Kwang- ly for a short space of time a Military to 112.75 inches, as compared, with an to speculative stockholders of $135 excessive rainfall, and only about

per cent. by the end of December. tung-Kwangsi conflict traffic was Governor in Canton. This military average of 61.70 inches for the precedi per bale. Of the quantity used in 74,000 pieuls of foreign rice were while other silks were dropping in half of the year, but mostly of so

important feature developed. Money Market.-Over 10 new Chinese stopped from the 27th September to Irader was holding, on behalf of the suits to the mulberry plants and ese and only one-third Bombay yarn, stricken areas in North Gaina divert price, white silks for Chinese con- speculative a character that eight at of the first-term main roads was com

banks were opened during the first the 31st October. ing nine years-with disastrous te local factories, two-thirds were Japan imported. The needs of the famine- Southern Government, against the

Miscellaneous.The construction North a portion of Fukien province: cocoon-rearing. In marked contrast according to reports from reliable ed the Wahu surplus, and the em-sumption assumed a greater value least had closed again before the pleted in July, and the survey for and the Southern Government, having to the excellent silk crops of the sources. Under woollen goods, there bargo on Annani rice left local dealers as the result of a keen demand from autumn decided to extend its influence still Previous year, those of 192) have is little to note, except an increase of no opportunity to speculate in corners, the interior. It has to be admitted. very depressed state of the silk mar out and parts of these works are also was over. Owing to the the second-term roads has been carried further in that province by using the worst on record to the producers Most of these blankets, however, year was suremunerative. The price been the season closing in May for than usual. The heavy inporta- however, has called a temporary made the year under review one of 30,000 pounds in blankets and rugs and so complaints are heard that the however, that, indiferent as basket, business conditions were duller well under way. Lack of funds, Li Hou-chi, the Tuchir of Chint of silk, Canton's staple export. Dur-were for the use of the victorious of rice was high until the Ching the steam flatures, the remainder tions of hat silver in the March quarter halt to these much-needed improve- vince and a follower of Tuan Ching the March quartes prospects Kwangtung army, which, if Walchow Ming festival, after which it fell to of the year has been infinitely more for the Canton Mint, when finally ments, and the autumn troubles have instructed Ch'en Ch'jung-ming to attack him with his Cant for 36 consecutive days quickly reduced prepared to face a winter campaign $1 for 15 catties of the mediam quality of the year were short, and by the coinage on the local market, so that It is, however, certain, that Canton were excellent, but heavy rain during had not fallen in October, was ill the more or less normal figure of so. Local supplies in the beginning taken over, caused a glut of subsidiary further helped to impede progress. troops. Chen, however, had for the market to stagnation point, with In metals, a considerable improve some time past been in league want the result that exports fell off by some ment under several kinds of metal mainly of kerosene oil, Dostly to lifeless. The first crop was delayed was withdrawn on the 21st June. those who have been residents here (b.) Re-erports-These consist end of February the market was the embargo against its export at all means to be a modern city, and to Cantonese had evidently decided to 13,170 piculs, accounting for practical goods is noticeable, due to greatly West River ports, but some were by unasually cold weather and, later, Politically, the situation was very for many years the changes are very free their native province from the The gross value of the trade of the existence of a very modern plant, hortage of supplies from the home crops from excessive zain; so that, held on to it, so that rates of interest Police records give the number of ly the total decrease in expert revenue. increased local shipbuilding, and the reshipments to Hongkong to cover suffered with the second and third gloomy, and those who had money startling though very welcome.-- shackles of Kwangsi domination. Through the machinations of port for the year under review was known as the Chukong Slipway and markets, as explained above. The trade although some 20,000 bales were

Hi, Tk. 145,596,146, which, after al- Motor-boat Works. This engineering in Borneo oil has been the west produced, it

were very low. The value of foreign motor-cars as 94; and the Kwangtung Dr. Sur Yat Sen a secret under lowing for the reduction of re-exports, yard will revolutionise the famous on record for beveral yenie, party quality. By April there was almost frora 64. 4id. to 3s. 21d. by the end fulfilment of orders for rail: from was mostly of poor exchange, which for London fell Tramway Company, while awaiting Cli'eu Chiung-ming and Lis valued at Ht. Tis. 4,782,123, gives lower-boat world, with its up-to-dae to bigh prices generally and com- a panic or the Yokohama market, of the year, was equally reflected on America, has started its street service ostensible adversary Li Ilou-chi, endret total of Ft. Tis. 140,814,317, date motor house-boats, several of petition from outside importers. A owing to the month of August found Ch'en This figure is well in excess of that which have already been launched. certain quantity of aniline dyes has dealers are reported to have lost as which fell from 105 to 561, and for Kwangtung Electric Supply Com a falling exchange, and the New York Bourse, the rates for with six motor omnibuses.--The Laying down conditions to his Kwangsir 1918 and only some 7 millions Copper ingeta show an increase been re-exported ecastwise, because much as $300 a bale on forward Paris the range was 15.95 to 9.20. pany's new turbine plant has been masters in the Southern Government. below that of 1919, almost entirely of

4,000 piculs; abeets The strong antagonism prevailing accounted for by the depression in the tes, both iron and steel, give a be making Canton their distribcting provement, so that the Japanese raw have therefore been heavy losers. house on the river front has yet to and German merchants would appear to contracts. June saw a slight im- Speculators in silk yarn and gold coin fully installed, but the intake power- between the Cantonese troops of silk market, the falling off in the total advance of some 3,000 piculs, centre instead of Hongkong, as in silk market was still able to keep On the 1st August the new Provincial be completed. During the year the Ch'ca Ch'iung-ming and the Kwangsi exports of that staple commodity while mild steel plate cuttings, pre-war days.

showing the large figure of Hk. Ths. galvanized iron wire, with cobbles

Canton at bay, the only remedy for Bank of Kwangtang was opened, with Canton Waterworks laid 1,533 feet reinforcements ostensible sent to 100 6,000,000. The beary cloud of and wire shorts, show increases of Abroad and Coastwise (including Military operations during September Under Government protection, hos of new pipes. Income, however, only Chinese Goods.--(.) Exports, which would have been a 2. dolara nominal capital of $5,000,000, of additional mains and 163,785 feet rame to a head in the middle of Political chaos which has for several 7,000 piculs, 4,000 piculs, and 6,000 ports),Nankeens, or patriotic and October cut off the necessary ever, it started business with a cash reached $15,000 for the year, and the August and open fighting took place ears now hang over the trade of piculs respectively. The most mark cloth" as it is sometimes called, shows fuel, so that only about 10 per cent. reserve of $2,000,000. One of Gener- company is reported to have lost between the foury was silver lining in the form of a commerci- under lead in pigs, due, in all pro-Ya Ting Factory was reorganized on. Transactions for the year total wresting his province from the hands to the increased use of fuel and the Kwangtung never ceases to showed decrease is that of 5,000 picule an advance of 9,000 picals. The of the local filatures were able to carry al Chen Ciung-ming's first acts, after about double that amount, owing. tung for the Cantonese and Chen Chiung-ming became the al buoyance and power of recupera-bability, to overstocking in 1913. during the year, and the Ling Nan a little over 20,000 bales, 7,000 of of the Kwangai party, was to insist depreciation in Bank of China paper. declared enemy of the Kwangsi regime tion, which augurs weil for China's Under sundries, one cantot but fail Factory at Chinchnen. has made a which were shipped to the United that revenues should be paid in currency. In January a serious fire and the protagonist of the movement commercial future when peace is one to notice an advance of 103.000 good profit during the year. Owing States in January. Prices ranged Provincial Bank paper currency, thus occurred in Chiang Le Street, and for the emancipation of Canton from more thoroughly re-established within piculs under foreign cement from to a brisk demand inland, the Wham- from $1,850 to $1,280 per bale for rejecting Bank of China notes, of 47 other fires are recorded, in which

Kwangsi taskmasters. Chen her dominions.

Green Island, Macao. The locally poa Weaving Factory has also greatly the best qualities and $1,250 to $720 which no less than $5,000,000 worth about 700 houses were destroyed. quickly laid siege to Waichow, the Revenue. The total revenue col made product is also well patronised, improved. The prevailing high price for inferior qualities, the drop being were on the local market. Although One-third of this number was in key to the outward defences of Can lection for the year amounted to but, apart from municipal uses, most for foreign piece goods has been the steady throughout the year. The Amethis blow has caused considerable Ch'ang Le Street, and ita magnitude ton; but the excellent strategic posi-H. Ts. 2,512,287. representing an of it is exported coastwise. On the main cause of the much-improved rican market was a totally negligible uneasiness amongst holders, for the for a while caused considerable anxiety tion of that town defied all. bis efforts increase of H. Tis. 70,353 over other hand, Macao for many weeks. Fierce fighting en- the figures for 1919. The largest undoubtedly better suited for high withdrawal of the Yunnanese troops quarters, while the total demand 40 per cent: for a while, leading ban- situated on the West Bund. The cement is prospects of this trade. On the area during September and December value of Bank of Chins notes fell to to those whose places of business were sued in various parts of North-east increase is under the heading of im-building work, of which the city of from the North River districta in from Europe and India for the same kem, nevertheless, by speculation Sun Company deserves much praise Kwangtung, and the wretched in-port duty, and the largest decrease Canton to-day has some very promis-April, the special war tax imposed period did not exceed 4,000 bales, in Hongkong notes and gold coin, for the valuable assistanc: rendered habitants were subjected to all the under that of exports, due almost ing specimens. Cigarettes show by them on wolfram was abolished Other articles of export that show have successfully balanced accounts. by its own fire-brigade at this time. horrors of war for some three months. entirely to the falling off in silk exports. decrease of 34,000 mille, which, while and the ore came down freely again: a satisfactory advance are Canton Bank of China notes, which in January The total loss to insurance companies How long the Kwangsi commanders There is a considerable increase in perhaps not a very large amount, although prices fell to about $20 per silverware, 11,000 catties; brown were selling at 112, recovered to in this connection is stated to be might have beld Chen Ch'iung-ming the coast trade duty of over, lk. Tle. indicates how the pendulum swings pics), dealers were still able to make sugar, 45,000 picule; and black tea, by the end of the year. Every effort close on $1,000,000, so that it is not and his Cantonese forces at bay at 50,000, but tonnage and transit between foreign and native competi-a small profit. Exporté accordingly 2,000 piculs, the advance in the last in business circles is being made to surprising to hear that a few of the Waichow is uncertain had not defec-dues both record decreases. Chinese tion. A new firm in this particular increased by 31,000 piculs, mostly named no doubt being due to the re-establish their currency. Bone Chinese agencies were forced to close tion within the city of Canton itself shipping contributed Hk. Tla. 47,000 trade has entered the lists, Messrs. for the American market, on, which free duty treatment accorded to banks trading with the Provincial their doors. Two new match fac- suddenly arisen and upset the scales out of the total increase of revenue Leggett and Myers, of New York, so the demand for steel, zails, etc., is shipments abroad. Prepared leaf Government Mint were unable to get tories have been established during in favour of Ch'en's forces. On the of Hk. Ths. 70,353, followed by British that, with the British-American 1 far greater than the output. The tobacco sad tobacco stalk show their accounts settled, so that the the year one in Wongsta suburb, 27th September General Li Farlin, shipping, with H. Ts. 16,000. The Tobacco Company on the one side next item al importance in the made total decrease of $3,000 pizuls. The aggregate amount of the former and the other at Yimp some commanding the troops stationed on principal falling off was under the against the Nanyang and Canton of Canton is cassis lignes, under native prepared tobacco industry government's debts is as much as 13 15 from Canton, and styled Honam, renounced his allegiance to American BagH, TIs. 10,000,-Tobacco Companies aa native oppor- the Kwanga wat lord," Ln, Jung-due to the decline in the of market. ents on the other, competition pro t'ing, and was supported in his action Shipping (6) Under General mises to become very keen. Foreign by General Wei Pang ping, the Regulations. Shipowner complain roal shows a falling off of 3,000 Commissioner of Police in Canton, that it has not been at all a good tons, or about two shiploads only,

leaders

cause remained to be dealt with in the

Dr. Sun Yat Sen, and these two ardent

standing was

between

port Ch'en's expedition in Fukien

its

mised.

MIND: THE PAINTI

A

would pear to be steadily losing several hundred thousand dollars. the Man Bang Factory. Exports of ground, largely due to cigarette.com- In spite of pervious fraft, therefter matches extend as far as the Strait petition, for which much of the native which was not incoladerable, the Bettinmente, and the substitution oa product is used by the Canton cigar- sudden change of government was a locally spot food for the Japanese ette factory inside the city, à gamit.stams they could not weather, (Continued on "Pagi:10.3: