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the past year, and although there has been a wide range of fluctua- tions in price, the trading has been generally profitable for both merchants and dealers.
American Cotton in Liverpool was priced at 23.20 pence per lb. at the beginning of the year, and at 29.20 at the close. The highest point reached was 25.94 in September.
The year opened with Exchange at 3/- T/T. It rose as high as 3/8 in September and closed at 3/44.
The quantity of Yarn (as of all merchandise) coming to the Colony has been considerably below that of former years, but statis- tics based on values, however, would probably not reveal this conclusively, owing to the high cost of raw materials, freight, insurance, and other charges, which of course swell the value figures as compared with those of quantity.
The off-take by Southern China has been curtailed owing to the high prices now required for most goods, and to the decreased pur- chasing power due to war conditions adversely affecting China's export trade.
Trade has suffered by the political chaos that exists in China and there has been a lack of confidence in native circles caused by many of the usual trade routes being infested by pirates and bandite recruited from the disbanded but unpaid soldiery, which has served to check the free flow of goods and money.
The statistical position of trade in most goods however is sound, and granted settled conditions the prospects of business are encouraging.
Rope Making. The demand for Manila cordage was not so good and the total turnover showed a falling off from that of the previous twelve months. The high cost of raw materials and in- creased rates of freight were maintained throughout the year and these together with the high exchange greatly affected business with gold standard countries. Not only this but the consumption of rope was naturally affected by war conditions and the demand for cordage especially towards the end of the year fell off considerably.
Cement Making. The demand continued good during the year although there were still difficulties in obtaining freight room and the high exchange interfered to a large extent with exports to gold standard countries. It was necessary to raise selling prices during the year owing to the high cost of coal but on the whole the the turnover compares favourably with the last two years.
Tin.-Business in this commodity remained about the same as in 1917. Imports from Yunnan during the year amounted to about 12,500 tons and from Kwangai to about 200 tons as against 11,000 toms and 200 tons respectively in 1917. From Java 500 tons were imported.
During the year about 400 tons were exported to Japan, 1,200 tons to Shanghai and other China Coasts Ports, and 10,700 tons to Europe, Canada, and the United States of America.
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Rattan and Fibre Furniture. The value of rattan and fibre furniture exported during 1918 declined to $10,000 from $200,000. The value of rattan canes exported was about $1,600,000 and that of grass and reed was about $230,000 as against $1,500,000 and $130,000 respectively in 1917.
Native Tobacco. Business was about the same as in 1917, Tinned Goods.-The volume of business done during the year was about the same as in 1917,
Samsku. The volume on business done during 1918 was about the same as in 1917.
Vinegar. The business was about the same as in 1917. Knitted Vests and Socks.-Business declined by 20 per cent., but prices went up about 15 per cent.
cent.
Leather and Hides. -Business showed a decrease of over 30 per
Ginger and Preserves. This has been a bad year, owing to the absence of orders from Europe and America,
Soy. About 400 casks were exported in 1918 as compared. with 950 casks in 1917.
Paper-Business in this article maintained the same level in 1918 as in 1917, though prices went up by over 30 per cent. Of the papers imported during the year about 80 per cent, were of Japanese manufacture.
Vermilion. The business done in 1918 amounted to about $700,000 as compared with about $600,000 in 1917.
1917.
Lard.-Business declined by 50 per cent, as compared with
(c.)--FISHERIES.
A considerable proportion of the boat population of Hongkong supports itself by deep-sea fishing, in which pursuit a large number of junks are engaged. The villages of Aberdeen, Stanley, Shauki- wan, and also many in the New Territories, are largely dependent upon this industry for their prosperity. Fresh water fish is im- ported from Canton and the West River. There are oyster beds of considerable value in Deep Bay.
(d)-FORESTRY, Agriculture, AND BOTANY.
About 35,000 pine tree seedlings were planted on the hills in the vicinity of the Fanling Golf Course, over 8,000 in the Cheung- shawan catchment area and 1,000 on Cheung Chau Island.
On the hills east of the Fanling Golf Course, pine tree seeds were sown in situ from which about 105,000 trees have been raised. At Aberdeen nearly 9,000 pine trees were raised from seeds sown in situ.
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