CO129-427 - Public Offices - 1915 — Page 328

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in 1912 and were overstocked in 1913.

(b) rebellion in South China.

(c) depreciation in Kuangtung money.

322

The following remark in the letter is noticeable,

"Italian and Venetians. Our well-known 2477 quality is

still our best seller but we have had to face some very

severe competition from Siemsseng

and it has

resulted in out-throat competition.

However, we have

managed to sell large quantities of our chop and have

kept them out of the market and shall reap the benefit

in future years".

A stock of 8.116,500 worth of goods is carried

forward in 1913.

b. Sundries. The following figures are extracted

from copies of the private annual balance letter to

Arnhold Karberg and Company, London and can be relied

on.

Turnover. Gross % Charges. % Net

Profit.

Profit.

1910

!

1911

1907 8.222,000 21,000 10(-) 11,000 5 10,000 4

1908 186,000 19,000 10 11,000 6 8,000 4

1909 330,000 44,000 13 24.000 7 20,000 6

367,000 44,000 12 34,000 9 10,000 24

351,000 43,000 124 32,000 9 11,000 34

1912

1913

412,000 66,000 16

364,000 56,000 15

37,000 9 29,000

38,000 10 18,000 5.

7

The