CO129-258 - Governor Sir Robinson - 1893 [1-4] — Page 196

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

I have

57 Mr. Robinson

Enclosure. 2.

195

THE BOMBAY YARN TRADE IN HONGKONG. Mr P. Eduljee, in his annual report on the Bombay yarn trade in Hongkong, says: -- The trade in Indian Grey Yarn continues to advance with rapid strides, and the year just past shows an exceptionally prosperous period both to dealers and importers with a substantial increase in volume and price. Total imports to China and Japan which amounted to 389,862 bales in 1891 show an increase of 54,012 bales in 1892 or nearly 14 per cent. In Hongkong alone receipts increased from 218,732 bales in 1891 to 247,569 bales in 1892 or over 13 per cent., whilst direct shipments to Shanghai and Japan advanced to 196,305 bales as against 171,130 bales in 1891 or nearly 15 per cent. Consumption has also kept pace with arrivals, and whereas Hongkong shows an increase of 67,660 bales or nearly 35 per cent. during the past year over that of the previous twelve months, sales in Shanghai have increased from 144,337 bales in 1891 to 184,386 bales in 1892 or nearly 28 per cent. and in Japan from 14,439 bales to 25,337 or over 75 per cent. During the first six months prices were very slow to move and showed a fluctuation of $1 to $2 per bale, but during the latter half of the year the market took a decidedly upward turn, and in spite of one or two ineffectual attempts to bear prices, values have steadily advanced, and during the year the appreciation may be estimated at $15 in No. 6s. and 8s., $13 in No. 10s and 12s., and $10 in No. 16s. and 20s., and although rates in India showed a corresponding advance, the margin on costs has been more or less considerable.

In closing the last annual Report it was remarked that since the introduction of the trade into China there has been no more disastrous period both to importers and native dealers than the year just past.' Not only have supplies increased during the last twelve months, but consumption has increased from 181,504 to 219,164 bales, the country being in a better position to absorb more imports, having been happily free from droughts or floods during the period under review.

The Northern Ports, more especially the large neighbouring markets of Shanghai, have greatly contributed to our advancement, and indeed during the first half of the year were it not for the heavy exports to that port, and the large orders received therefrom we would not have been able to report so good a progress in our market. To give a vague idea of how the trade in Shanghai has expanded during the last four years it is only necessary to mention that whereas in 1889 only 55,401 bales were consumed in that market the consumption last year shows 184,386 bales or an increase of nearly 129,000 bales or over 280 per cent.

In November 1890, when the new system of clearance in 3 months was adopted by the principal Indian importers in Hongkong, fears were entertained in certain quarters as to the advisability of the movement and all sorts of evils to the trade were prognosticated. The system has had now a fair trial of over two years, and not only have the croakings of the pessimists not been verified but the market has assumed a healthier aspect and every fictitious element which led to inflated sales and spurious prices in the past have been eliminated from the trade. During the last twelve months the productions of two new mills have been introduced into our markets, namely the Coimbatore (in Madras) and Raja Nagar (in Ahmedabad). Three new mills are in course of erection in Bombay island, namely, the Bomanjee Petit Mills, The Hope Mills, and Jacob Sassoon Mills, one in Calcutta and four others in as many commercial centres of India, making a total of eight new mills whose production we may expect to be imported into our markets during the ensuing year.

The trade with Japan has last year unexpectedly taken an upward turn, as is evidenced by the increased consumption of nearly 11,000 bales over that of 1891. The scarcity of Raw Cotton has been the principal factor at work in the altered circumstances of the trade. This improvement, however, may not be taken as a criterion, as, given another prosperous year and cheap long-stapled raw material, the Japanese bid fair to drive the foreign article from the country at no distant date. Already there is a talk of a contemplated addition of one hundred thousand spindles to the productive powers of local Mills. This would mean an increase of about 175 bales a day or close upon five thousand bales per month to the local output. At the close of 1889 the number of Mills throughout Japan was 34, running an aggregate of 268,988 spindles, increasing to 37 mills in 1890 capable of running 382,976 spindles. It is estimated, however, that only 270,000 spindles on an average were employed during the year producing only 130,000 bales of 40 lbs. In 1891 the number of Mills was reduced to 36, and at the close of the first half of last year they stood at 36 with 324,800 spindles producing 102,500 bales as against 110,000 bales in the whole of 1890 and 110,525 bales in 1891. Whilst this is being written, telegraphic news has been received from Japan of the total destruction by fire of two Mills in Osaka containing 30,000 spindles. The great drawback to the local industry in Japan is the unsuitability of the Home-grown Cotton for spinning either alone or after mixing with other staple on account of its harshness and shortness, and the cost to which the Mills are put in supplying themselves from foreign markets. Notwithstanding these drawbacks the country is advancing with steady progress both in the volume and quality of the manufacture suited to its requirements, and in the course of a few years Japan will not only offer an exceedingly poor outlet for Indian yarns, but be a no mean competitor with Bombay Mill-owners in China markets. In lieu of the manufactured article, however, Japan is now a large buyer in India of Raw Cotton, and the pace at which the trade is advancing since its commencement some two years ago gives promise of a no inconsiderable expansion in the near future.

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I have 57 Mr. Robinson Enclosure. 2. 195 THE BOMBAY YARN TRADE IN HONGKONG. Mr P. Eduljee, in his annual report on the Bombay yarn trade in Hongkong, says: -- The trade in Indian Grey Yarn continues to advance with rapid strides, and the year just past shows an exceptionally prosperous period both to dealers and importers with a substantial increase in volume and price. Total imports to China and Japan which amounted to 389,862 bales in 1891 show an increase of 54,012 bales in 1892 or nearly 14 per cent. In Hongkong alone receipts increased from 218,732 bales in 1891 to 247,569 bales in 1892 or over 13 per cent., whilst direct shipments to Shanghai and Japan advanced to 196,305 bales as against 171,130 bales in 1891 or nearly 15 per cent. Consumption has also kept pace with arrivals, and whereas Hongkong shows an increase of 67,660 bales or nearly 35 per cent. during the past year over that of the previous twelve months, sales in Shanghai have increased from 144,337 bales in 1891 to 184,386 bales in 1892 or nearly 28 per cent. and in Japan from 14,439 bales to 25,337 or over 75 per cent. During the first six months prices were very slow to move and showed a fluctuation of $1 to $2 per bale, but during the latter half of the year the market took a decidedly upward turn, and in spite of one or two ineffectual attempts to bear prices, values have steadily advanced, and during the year the appreciation may be estimated at $15 in No. 6s. and 8s., $13 in No. 10s and 12s., and $10 in No. 16s. and 20s., and although rates in India showed a corresponding advance, the margin on costs has been more or less considerable. In closing the last annual Report it was remarked that since the introduction of the trade into China there has been no more disastrous period both to importers and native dealers than the year just past.' Not only have supplies increased during the last twelve months, but consumption has increased from 181,504 to 219,164 bales, the country being in a better position to absorb more imports, having been happily free from droughts or floods during the period under review. The Northern Ports, more especially the large neighbouring markets of Shanghai, have greatly contributed to our advancement, and indeed during the first half of the year were it not for the heavy exports to that port, and the large orders received therefrom we would not have been able to report so good a progress in our market. To give a vague idea of how the trade in Shanghai has expanded during the last four years it is only necessary to mention that whereas in 1889 only 55,401 bales were consumed in that market the consumption last year shows 184,386 bales or an increase of nearly 129,000 bales or over 280 per cent. In November 1890, when the new system of clearance in 3 months was adopted by the principal Indian importers in Hongkong, fears were entertained in certain quarters as to the advisability of the movement and all sorts of evils to the trade were prognosticated. The system has had now a fair trial of over two years, and not only have the croakings of the pessimists not been verified but the market has assumed a healthier aspect and every fictitious element which led to inflated sales and spurious prices in the past have been eliminated from the trade. During the last twelve months the productions of two new mills have been introduced into our markets, namely the Coimbatore (in Madras) and Raja Nagar (in Ahmedabad). Three new mills are in course of erection in Bombay island, namely, the Bomanjee Petit Mills, The Hope Mills, and Jacob Sassoon Mills, one in Calcutta and four others in as many commercial centres of India, making a total of eight new mills whose production we may expect to be imported into our markets during the ensuing year. The trade with Japan has last year unexpectedly taken an upward turn, as is evidenced by the increased consumption of nearly 11,000 bales over that of 1891. The scarcity of Raw Cotton has been the principal factor at work in the altered circumstances of the trade. This improvement, however, may not be taken as a criterion, as, given another prosperous year and cheap long-stapled raw material, the Japanese bid fair to drive the foreign article from the country at no distant date. Already there is a talk of a contemplated addition of one hundred thousand spindles to the productive powers of local Mills. This would mean an increase of about 175 bales a day or close upon five thousand bales per month to the local output. At the close of 1889 the number of Mills throughout Japan was 34, running an aggregate of 268,988 spindles, increasing to 37 mills in 1890 capable of running 382,976 spindles. It is estimated, however, that only 270,000 spindles on an average were employed during the year producing only 130,000 bales of 40 lbs. In 1891 the number of Mills was reduced to 36, and at the close of the first half of last year they stood at 36 with 324,800 spindles producing 102,500 bales as against 110,000 bales in the whole of 1890 and 110,525 bales in 1891. Whilst this is being written, telegraphic news has been received from Japan of the total destruction by fire of two Mills in Osaka containing 30,000 spindles. The great drawback to the local industry in Japan is the unsuitability of the Home-grown Cotton for spinning either alone or after mixing with other staple on account of its harshness and shortness, and the cost to which the Mills are put in supplying themselves from foreign markets. Notwithstanding these drawbacks the country is advancing with steady progress both in the volume and quality of the manufacture suited to its requirements, and in the course of a few years Japan will not only offer an exceedingly poor outlet for Indian yarns, but be a no mean competitor with Bombay Mill-owners in China markets. In lieu of the manufactured article, however, Japan is now a large buyer in India of Raw Cotton, and the pace at which the trade is advancing since its commencement some two years ago gives promise of a no inconsiderable expansion in the near future.

Baseline (Original)

being given to the appropriation Bill for 1893, I haver 57 Mr. Robinson Encloure. 2. 195 ぶ AS THE BOMBAY YARN TRADE IN HONGKONG. Mr P. Eduljee, in bis sonual report on the Bombay yarn trade in Hongkong, says: -- The trade in Indian Grey Yaru continues to advance with rapid strides, and the year just past shows an exceptionally prosperous period both to dealers and importers with a substantial increase in volume and price. Total importa to China and Japan which amounted to 389,862 bales in 1891 show an increase of 54,012 bales in 1892 or nearly 14 per cent. In Hongkong alone receipts increased from 218,732 bales in 1891 to 247,569 bales in 1892 or over 13 per cent., whilst direct shipments to Shanghai and Japan advanced to 196,305 bales as against 171,130 bales in 1891 or nearly 15 per cent. Consumption has also kept pace with arri. vals, and whereas Hongkong shows an in- crease of 67,660 bales or nearly 35 per cent. during the past year over that of the pre- vious twelve mouths, sales in Shanghai have increased from 144,337 bales in 1891 to 184,386 bales in 1892 or nearly 28 per cent. and in Japan from 14,439 bales to 25,337 or over 75 per cent. During the first six months prices were very slow to move and showed a fluctuation of $1 to $2 per bale. but during the latter half of the year the market took a decidedly upward turn, and in spite of one or two ineffectual attempts to bear prices, values have steadily advanced, and during the year the appreciation may be estimated at $15 in No. 6s. and 8a., $13 in No. 10s and 128. and $10 in No. 168. and 20s., and although rates in India show- ed a corresponding advance, the margin on oosta has been more or less considerable. In olasing the last annual Report it was re- marked that since the introduction of the trade into China there has been no more disastrous period both to importers and na- tive dealers than the year just past.' Not only have supplies increased during the last twelve months, but consumption bas in- creased from 181,504 to 219,164 bales, the country being in a better position to absorb more imports, having been happily free from droughts or floode during the period under review. The Northern Ports, more especially the large neighbouring markets of Shanghai, have greatly contributed to our advance- ment, and indeed during the first half of the year were it not for the heavy exports to that port, and the large orders recaived therefrom we would not have been able to report so good a progress is our market. To give a vague idea of how the trade in Shangbai has expanded during the last four years it is only necessary to mention that whereas in 1889 only 55,401 bales were con sumed in that market the consumption last year shows 184,386 bales or an increase of nearly 129,000 bales or over 280 per cent. In November 1890, when the new system of clearance in 3 months was adopted by the principal Indian importere in Hong- kong, fears were entertained in certain quarters as to the advisability of the move- ment and all sorts of evils to the trade were prognosticated. The system has had now a fair trial of over two years, and not only have the oroakings of the pessimista not been verified but the market bas assumed a bealthier aspect and every fictitious element which led to inflated saler and spurious prices in the past have been eliminated from ibe trade. During the last twelve months the productions of two new milla bave been introduced introduced into our markets, namely the Coimbatore (in Madras) and Raja Nagar (in Amebabad). Three new mills are in Dourse of erection in Bombay island, namely, the Bomanjee Petit Mills, The Hope Mills, and Jacob Sassoon Mills, one in Calcutta and four others in as many commercial centres of India, making a total of eight i new milla whose production we may imported into our markets during the ensuing year. The trade with Japan has last year unexpectedly taken an upward turn, as is evidenced by the increased com- sumption of nearly 11,000 bales over that of 1891. The scarcity of Raw Cotton has been the principal factor at work in the altered circumstances of the trade. This improve- ment, however, may not be taken as a criterion, as, given another prosperous year and cheap long-stapled raw material, the Japanese bid fair to drive the foreign article from the country at no distant date. Already there is a talk of a contemplated addition of one hundred thousand spindles to the productive powers of local Mills. This would mean an increase of about 175 bales a day or close upon five thousand bales per month to the local output. At the close of 1889 the number of Mill. throughout Japan was 34, running an ag gregate of 268,988 spindles, increasing to 37 mills in 1890 capable of running 382,976 spindles. It is estimated, however, that only 270,000 spindles on an average were employed during the year producing only 130,000 bales of 40 lbs. in 1801 the number of Mills was reduced to 36, and at the close of the first half of inst year they stood at 36 with 324,800 spindles producing 102,500 bales as against 110,000 bales in the whole of 1890 and 110,525 bales in 1891. Whilst this is being written, telegraphic news has been received from Japan of the total destruction by. fire of two Mills in Osaka containing 30,000 spindles. The great drawback to the local industry in Japan is the unsuitability of the Home-grown Cotton for spinning either alone or after mixing with other staple on account of its barshness and shortness, and the cost to which the Mills are pat in supplying themselves from fareiga markets. Notwithstanding these drawbacks the country is advancing with steady progress both in the volume and quality of the manufacture suited to its require meats, Bad in the course of a few years Japan will not only offer an exceedingly poor outlet for Indian yarus, but be a no mean competitor with Bombay Hill-owners in China markets. In lieu of the manu- factured article, however, Japan is now a Irg buyer in India of Raw Cotton, and the pace at which the trade in advancing since its commencement some two years ago gives promise of a no inconsiderable ex- pansion in the near future.

2026-05-26 22:28:42 · Baseline

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being given to the appropriation Bill for 1893,

I haver

57 Mr. Robinson

Encloure. 2.

195

ぶ

THE BOMBAY YARN TRADE IN HONGKONG. Mr P. Eduljee, in bis sonual report on the Bombay yarn trade in Hongkong, says: -- The trade in Indian Grey Yaru continues to advance with rapid strides, and the year just past shows an exceptionally prosperous period both to dealers and importers with a substantial increase in volume and price. Total importa to China and Japan which amounted to 389,862 bales in 1891 show an increase of 54,012 bales in 1892 or nearly 14 per cent. In Hongkong alone receipts increased from 218,732 bales in 1891 to 247,569 bales in 1892 or over 13 per cent., whilst direct shipments to Shanghai and Japan advanced to 196,305 bales as against 171,130 bales in 1891 or nearly 15 per cent. Consumption has also kept pace with arri. vals, and whereas Hongkong shows an in- crease of 67,660 bales or nearly 35 per cent. during the past year over that of the pre- vious twelve mouths, sales in Shanghai have increased from 144,337 bales in 1891 to 184,386 bales in 1892 or nearly 28 per cent. and in Japan from 14,439 bales to 25,337 or over 75 per cent. During the first six months prices were very slow to move and showed a fluctuation of $1 to $2 per bale. but during the latter half of the year the market took a decidedly upward turn, and in spite of one or two ineffectual attempts to bear prices, values have steadily advanced, and during the year the appreciation may be estimated at $15 in No. 6s. and 8a., $13 in No. 10s and 128. and $10 in No. 168. and 20s., and although rates in India show- ed a corresponding advance, the margin on oosta has been more or less considerable. In olasing the last annual Report it was re- marked that since the introduction of the trade into China there has been no more disastrous period both to importers and na- tive dealers than the year just past.' Not only have supplies increased during the last twelve months, but consumption bas in- creased from 181,504 to 219,164 bales, the country being in a better position to absorb more imports, having been happily free from droughts or floode during the period under

review.

The Northern Ports, more especially the large neighbouring markets of Shanghai, have greatly contributed to our advance- ment, and indeed during the first half of the year were it not for the heavy exports to that port, and the large orders recaived therefrom we would not have been able to report so good a progress is our market. To give a vague idea of how the trade in Shangbai has expanded during the last four years it is only necessary to mention that whereas in 1889 only 55,401 bales were con sumed in that market the consumption last year shows 184,386 bales or an increase of nearly 129,000 bales or over 280 per cent.

In November 1890, when the new system of clearance in 3 months was adopted by the principal Indian importere in Hong- kong, fears were entertained in certain quarters as to the advisability of the move- ment and all sorts of evils to the trade were prognosticated. The system has had now a fair trial of over two years, and not only have the oroakings of the pessimista not been verified but the market bas assumed a bealthier aspect and every fictitious element which led to inflated saler and spurious prices in the past have been eliminated from ibe trade. During the last twelve months the productions of two new milla bave been

introduced

introduced into our markets, namely the Coimbatore (in Madras) and Raja Nagar (in Amebabad). Three new mills are in Dourse of erection in Bombay island, namely, the Bomanjee Petit Mills, The Hope Mills, and Jacob Sassoon Mills, one in Calcutta and four others in as many commercial centres of India, making a total of eight i new milla whose production we may

imported into our markets during the ensuing year. The trade with Japan has last year unexpectedly taken an upward turn, as is evidenced by the increased com- sumption of nearly 11,000 bales over that of 1891. The scarcity of Raw Cotton has been the principal factor at work in the altered circumstances of the trade. This improve- ment, however, may not be taken as a criterion, as, given another prosperous year and cheap long-stapled raw material, the Japanese bid fair to drive the foreign article from the country at no distant date. Already there is a talk of a contemplated addition of one hundred thousand spindles to the productive powers of local Mills. This would mean an increase of about 175 bales a day or close upon five thousand bales per month to the local output. At the close of 1889 the number of Mill. throughout Japan was 34, running an ag gregate of 268,988 spindles, increasing to 37 mills in 1890 capable of running 382,976 spindles. It is estimated, however, that only 270,000 spindles on an average were employed during the year producing only 130,000 bales of 40 lbs. in 1801 the number of Mills was reduced to 36, and at the close of the first half of inst year they stood at 36 with 324,800 spindles producing 102,500 bales as against 110,000 bales in the whole of 1890 and 110,525 bales in 1891. Whilst this is being written, telegraphic news has been received from Japan of the total destruction by. fire of two Mills in Osaka containing 30,000 spindles. The great drawback to the local industry in Japan is the unsuitability of the Home-grown Cotton for spinning either alone or after mixing with other staple on account of its barshness and shortness, and the cost to which the Mills are pat in supplying themselves from fareiga markets. Notwithstanding these drawbacks the country is advancing with steady progress both in the volume and quality of the manufacture suited to its require meats, Bad in the course of a few years Japan will not only offer an exceedingly poor outlet for Indian yarus, but be a no mean competitor with Bombay Hill-owners in China markets. In lieu of the manu- factured article, however, Japan is now a Irg buyer in India of Raw Cotton, and the pace at which the trade in advancing since its commencement some two years ago gives promise of a no inconsiderable ex- pansion in the near future.

CO129-258 - Governor Sir Robinson - 1893 [1-4] — Page 196

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