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Sugar The trend in prices of raw sugar was in a downward direction practically throughout the year, closing values at the end of December being about the lowest. The chief cause is to be found in the increase in beet sugar production over the previous year, such increase being about two million tons. The difference between the highest and lowest prices recorded for Java Sugars in Hongkong during the year was $5.40 per picul for Java Whites and $5.30 per picul for Java Browns.
This as is invariably the case, reacted very quickly in the refined markets throughout China, and whereas sales were being made from the middle of February to the middle of March on the basis of Shanghai Taels 12 per picul, selling limits from that time on had to be gradually reduced, until in December the rate was as low as Taels 8.3 mace per picul.
Adverse trading conditions in China also seriously handi- capped the Hongkong Refineries and in August last when a sudden and quite unprecedented demand arose for Refined Sugar, business had to be entirely suspended owing to the hostilities in the North and the inability of dealers to finance their business owing to the financial stringency which followed the outbreak of hostilities.
Cotton.-American Cotton fluctuated considerably in 1924, the tendency being towards a lower basis.
The year opened with Liverpool quotations at 21.06d. per lb.
Prices gradually fell, with one or two minor setbacks, to 16.05d on 28th March, when a sudden reaction set in and the raw material advanced to 19.30d on 11th April.
A gradual decline was then registered until the end of the year, with a temporary rise during July and the market closed at 13.65d, on 31st December.
The lowest value registered during the year was 13.00₫ in the middle of December.
Rope Making. The demand for Manila Cordage was fairly good during the first six months of 1924 but it fell off in the second half of the year owing to the very high cost of Manila Hemp, prices for which rose continually throughout the year. The total turnover was not so good as in the previous year owing chiefly to the competition of the Rope Factories at Manila who have a pre- ferential duty in the United States and can therefore place their surplus production on foreign markets at prices which probably barely cover actual cost.
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(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- 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.
wan,
(d)-FORESTRY, Agriculture, and Botany,
Formation of Pine tree plantations.
Seeds of Pinus Massoniana were sown in situ on the following places, seventy-two pounds of seed being used :---50,000 on hillsides above the Shek O Road, 20,000 at Quarry Bay, 30,000 on Cheung Chau Island and 20,000 on slopes adjoining the catchment area, Taipo Road.
For the formation of new plantation 657 pounds were sown broadcast on grassy banks above and below Shek O Road, above and below road from Shaukiwan Gap to Tytam, above and below Stubbs, Broadwood, Taipo, Tsun Wan and coastal roads and on grassy slopes adjoining public paths on Cheung Chau Island.
Broadcast sowing was carried out on areas badly damaged by fires above Pokfulam Road, below Matilda Hospital, Mt. Kellet and Telegraph Bay, a total of 260 pounds of seed being used.
Two thousand one year old tress of Pinus Massoniana were taken up from ground adjoining Beacon Hill Nursery site and replanted further up the hillsides in Plantation 9A and 9B.
Broad-leaved trees planted.
At Tai Wo Po, all remaining flat spaces were planted with young Camphor trees to the total number of 6,082.
The following flowering and shade trees were planted along- side the principal roads in IIongkong, the Kowloon Peninsula and the New Territories, Eucalyptus tereticornis 58, Callistemon rigidus 152, Camphor 17, Bauhinia variegata 19, Lagerstroemia indica 9, also small numbers of the following were planted to replace failures, Poinciana regia, Aleurites montana and Tristania conferta,
Care of trees in plantations.
Clumps of Lorandthus were removed and very large numbers of creepers cut.
Pine tree caterpillars appeared in plantations at Chuk Yuen, Ngau Chi Wan, Fan Ling and Cheung Chau. They were immediately dealt with; the total amount collected and destroyed amounted to 155 piculs.
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