CO129-481 - Governor Sir Stubbs - 1923 [8-12] — Page 477

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ते

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Juergieno ano yua nå badtoqui drosta Jonghi sơt „ained

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tedd hadezoizetab vitsery on bad yðilsup afliw viðnary (BEIT

469

it was useless to buy for the Hongkong market which required the best quality only. Some delay was experienced in plac-

ing the new crop on the market in Pakhoi and Hoihow and letter after letter records the writer's disappointment that the supplies of the new orop were not yet to hand. The

disaster to S. 8. "Yan On" and her cargo of opium already reported (September 6th) appears to have caused some alarm

and come less as the question of paying compensation is

raised in one letter which bemeans that disaster. Any

qualms the firm may have had as the safety of their business

soon vanished, and by November their business was more

prosperous than ever, and they were taking between $400 and 1500 a day. Opium was sold every day in the month preceding

the search, and the number of separate sales was over 10

every day.

Erics and Nature of Opium. The price varied very greatly according as the place of purchase was near or far from the

Province of Yunnan, and as the supplies of the old crop

became exhausted. The price in the Yamchow district close to the frontier of Yunnan was about $1.45 per taal, in Pakhoi i.e. halfway to Hoibow, about $1.70. In Hoihow itself about $1.90 to latterly #2.10. It is difficult to make out what the actual sale price wes in Hongkong as most

of the customere had ledger account and paid money in lump sume from time to time, and the price of the opium sold was net given in the daily salee book, however judging from the rebates given for short weight and stones the price seems to have been about £2.70. In certain cases it appears that the persons who bought the spium were only the agents of the firm, they took the opium at a certain price, but if they could make more on retailing it a certain amount of the extra profit went back to the sellers or the partners of the firm, of the opium sold to Swatow a certain amount of profit would ultimately reach the partners in the firm, through their share in the firm actually selling the opium. The partners in the Hongkong firm also appear to have had

an