36
March 95th, 1929.)
HONGKONG TRADE,
EFFECT OF STRIKE SETTLEMENT.
and
The fortnightly price current market report, published by the Hong- kong General Chamber of Commerce,
states:
Cotton Piece Goods and Fancy Cotton Goods.-The termination of strikes brought about a welcome resumption of routine business and clearances have been on a liberal scale. Local rates for Greys and Whites are hopelessly below Man- chester parities but some sales of Fancies are reported on satisfactory terms. Man chester reports a considerable enquiry for India and that prices are advancing.
CHINA OVERLAND TRADE REPORT
SHANGHAI TRADE.
Mossrs. Ilbert & Co.'s, piece goods market report, says:-
appointingly poor week's trading and, Once again we have to report a dis were it not for the fact that clearances continue to be moderately good, there would be little or no sign of vitality in the market.
Values are a shade easier all round with no demand to support them. The only explanation that can be given of the present stagnation is the general state of uneasiness and lack of confidence prevailing throughout the in- terior, to which there can be no real termination as long as the military-politi- cians are free to work their wills against good of the country. one another at the expense of the general
Yarn. A quiet fortnight has elapsed as dealers are waiting for conditions and prices to become more stabilised. Latter-
There is some hope that trade with ly values ruled easier owing to a few! Southern Ports may revive shortly now pressed sales. Manufacturing centres, that agitation at Amoy and the general however, are very steady to firm. Quota strike at Hongkong are over. Our most tions are:-No. 10s. $158 to $192. No. important outlets, however, such as Han- 128. $173 to $200. No. 16s. $195 to $225. kow and Szechwan, are doing practically No. 20s. $200 to 225. Arrivals nil. Ship. no trade at all although the latter was ment's nil. Sales 1,000 bales. Unsold, reported as buying fair quantities of local
cotton yarn up to a day or so ago.
4,500 bales. Bargains 9,000 bailes.
Woollens. No fresh business of import- ance has been booked, the low exchange putting prices further out. Clearances are better but considerable stocks will have to be carried to next season.
BIG HARBOUR FOR FENGTIEN.
327
EXCHANGE VALUE OF THE TICAL.
EFFECT ON RICE AND TEAK INDUSTRIES.
tion in Siam at the close of the third The Report on the Commercial Situa-
quarter 1921, by Mr. J. Crosby, C.I.E., contains the following note on the Ex- O.B.E., H.B.M. Acting Consul-General change outlook:-
with misgiving the continuance of
Exporters have been inclined to regard present high exchange value of the Tical, the which is militating especially against the teak industry, and which was at one time thought to be endangering the rice trade also. After the removal of the embargo on the export of rice at the close of January, 1921, the anticipated revival was not immediately forthcoming, and it was felt that Siam rice was being handicapped by its high price in its com- petition with the product of adjacent countries. But the diversion of the greater portion of the Burma crop for the needs of India subsequently effected a welcome change in the situation. A brisk demand sprang up for Siam rice and the exchange difficulty for the mo- ment ceased to be a pressing one. So long as this state of affairs lasts, that is to say, so long as the country can go on It is learnt from an authoritative source remunerative Tical prices, there would selling its surplus production of rice at
Hulu Isle in the Bay of Lienshan, Feng-value of the local unit of currency. It that the construction of a harbour in seem to be no reason for lowering the tien Province, which has been under con- is 'ikely to be otherwise in future years sideration for many years past, has been when bountiful supplies in this part of resolved upon and that work will be com- the world genera'ly will lead again to menced before long. The cost of the work keener competition; a low rate is estimated at $10,000,000, to be defrayed change will then obviously be to the by both the Fengtien Province and the advantage of the staple industry upon Ministry of Communications. The work which Siam relies for her prosperity.It will be spread over the next seven years. may be assumed that the Siamese Gov- Contractors from Japan, Great Britain, ernment is not unmindful of this con- the United States and Netherlands will sideration and that, when the inevitable be invited to make their tenders in April moment arrives, it will assign to the of the present year. Flour Market Report.-Stock: About harbour is on an extremely large scale, mating more nearly to its statutory The plan for the Tica an exchange equivalent approxi- 2,000,000 sacks. Quotations:-American and several big piers capable of accom Patent $3.80 per sack; American Straight modating in all 300 vessels are to be con‐
figure of 1s. 8d. In the meantime, busi- $3.10 per sack; American Cut-off, $3.15 structed.-Eastern News Agency.
ness, with India in especial is suffering heavily owing to the low sterling value per sack: Shanghai Flour, $3.25 per sack;
of the rupee. Australian No. 1 $3.20 per sack.
Raw Cottons. No fresh business has been recorded. Values are nominally un- altered as follow:-Indian descriptions a $23 to $29. Chinese descriptions at $28 to $35 per picul.
Metals. Market remains quiet. Small business has been done in M.S. Bars at $5.25 to $5.40. There has also been some business in Nails. Then has been a fair quantity of metals over-carried, it should not take long to get these parcels cleared, as soon as these goods are returned.
Sundries.-I■ anticipation of heavy arrivals, the market is inclined to be weakish although stock holders have not shown any eagerness to sell under the quotations. It is rumoured that a large quantity of glass destined for Hongkong has been over-earried to Shanghai on account of the strike at this port.
THE LUCK OF THE GAMBLE.
of ex-
Teak exporters are bady hit by the ruling high exchange value of the Tical. The large less es of teak forests are either rupee or ster'ing companies and (the There is never a big dividend paid at rupee having fallen rapidly during Shanghai or Kiangwan Races but what 1920) they have all suffered from the gave somebody or other a small fortune. its present figure. To take one instance we hear of the lucky happening which raising of the Siamese currency unit to It is the lady who liked a certain colour, alone: royalty and duty on logs are the coincidence of a name, the policeman collected in local currency and, express- on duty who thought it was absurd doed in terms of sterling, have been in- let one pony go without a single chance creased automatically by more than 41 The Compagnie de Commerce & de of a group of Chinese who for years past in exchange. Receipt from local sales of on it. There is even a story at Kiangwan per cent. as a consequence of the rise Navigation d'Extrême Orient, in their have been backing the pony whose name is logs offset this increase only to a very report dated Saigon, March 14th, state:-
Our market continues very dull. Some which the nameboards are clipped.
closest to the bottom edge of the slots in small extent. business has been closed with Europe, but once heard of a visitor who, studying the there are no transactions to report with board, remarked: "Hill on The Hawk. the Far Eastern market.
SAIGON RICE MARKET.
The end of the strike at Hongkong has resulted on this side in a sudden rise of the prices. So far it has been stated that the supply of rice will be sufficient after discharging the numerous steamers lying in Hongkong harbour, and the position of the rice market here tends to become
more and more normal.
The total amount of rice exported from January 1st up to February 28th is 168,002
tons against 151.438 in 1921.
We quote to-day-White Saigon rice. No. 2 sifted. Japan quality, Hongkong $8.40 per pioul f.o.b. Saigon for March- April shipment.
The Chinese Merchants Bank, Ltd. whose head office is in A'exandra Build- ings, Chater Road, opened a branch office in Shanghai on March 22nd,
We
TREATMENT OF MALARIA,
THE USE OF CINCHONA F. TO BE INTRODUCED.
According to a practical experiment carried out at Kuala Lumpur by Dr. Fletcher, he is satisfied that Java cin chona febrifuge is quite as good as Aquinine and costs only a quarter the price of the latter. Dr. Malcolm Watson's opinion is that, while cinchona febrifuge nary fever cases and precautionary doses is quite as good as quinine for all ordi- against fever, yet, in acute cases, where the patient is dangerously ill, quinine preferred.
ch! Well, two days ago I shot a hawk on a hill, so here goes.' Drawing $5 and less than a dol ar's worth of small change for his investment of $5 he was not so very much impressed with novices' luck. But a better one is told of Kiangwan last Saturday and a well known marine engi neer vouches for the veracity of it. party of sailors, having scraped up $10 between them, could not decide which Lumme. Nelson, o' course! Nelson ain't pony to follow. Sudden'y me said never lost!" On went the money and the drawing close upon $800. loyal bluejackets had the satisfaction of Nothing has come to hand about Baycroft except that a lady, who had two of the seven tickets taken on the $1.100 winner, immediately on noting the dividend rushed up to a broker friend and gasped: Oh, do tell me what is the latest exchange rate." N.-C. Daily News.
Drs. Fletcher and Quaife's experience shows that even in acute cases one is as good as the other. When the present supply of quinine for free distribution is exhausted, the Government will order a supply of cinchona febrifuge from Ban- doeng.
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