1911-01-03 — Page 3

Page

RANDOM REFLECTIONS.

A Happy Now Year to you! The gresting! may be a trifle belsted, but still it is my first opportunity.

The next forst, Gentlemen, is "Increased -Prosperity to the Colony," to be followed by the

with a bit!"

TRA REVIEW 1910.

THE HONGKONG DAILY PRESS, TUESDAY, JANUARY 3rd, 1911.

Bolo ive a retrospect of the ir de of the ar 191 data of which have beon gathered from autative soUTÓS,

EXCHANGE.

1,000 in the mama menth showed a similar decline. In August sales of 1,000 balon showed a decline of from 34 to 85, but Shangbai was vary dull, and there was no response. Other rules of 5,000 and 3,500 took place. Japanese 209 displaced Indian yarn 20s, because cotton was cheap for Japan end dear for Bombay. For the former article prices ranged from 2145 to $150. September salesmere 5,000 and American cotton becoming 15,000 bales.

confidence in the future. The seven crops during 1910 are estimated at about 45,000 bales filatures against 37,500 bales in 1909, while the shipments ranched the flure of 54,400 bales against 43,700 bal e during 1909. The stock at Canton may amount to about 2,000 bales against 5,500 bales at the and of 1909.

- CABRIA

Owing to favourable Crop Reports the mar ket opered at fairly low rates, but as "dralers were holding fat to their cargo, speculators in proportion to the market condition. The demand was then nearly satisfied and ler o bighest point was reached in July, atd

the

and the conarquenes is that they have had to look to China to buy their over-supplies. We may Bee Mancheria in the near futuro growing wheat in place of benus. This would

the Preißo coast and to some extent in Eurepo. of course, rerolatiorisa the market, hoth ou The production of beans in Manchuria this year represented ever a million and a half tons,

ont of which Europe is entimeted to draw & million tons, Should Manchuris, therefore change round and export wheat instead of herns, it can he imagined what the outerme will be. Pinetically the wheat markets of the world would hoffected Taking the year's prices ord reducing them, to Hongkong currency, it. will be found that they represent a cst value Prices have averaged of over 87,000.000

Exejo during the past year has been pathetic ballad "It could do, could do, could do fairly dy. Opening at 1/94 and falling in Marot 1/8 the rate fluctuated in April betwe/98 and 1/9. The variation for the The passing of the old year and the birth of 5 on May to Septomber, was only 3. quota- | cheap, importers becamo auxions to realiso. were formed to pay prices which were not at all

there WAN speculative demand the new leads most people to indulge in a little tinypiar between 1/94 and 1/9 In Ther reffeoline. It may take no other form than the Oct there was an advance le 1/104, the and the cotton position changed, and all of a colloquial for tempats-fugit, but se a rule most his point touched during the year, and sudden the market became firm. Ontaber sale arrivals came forward from the interior, prices during the year from $2.30 to 99:40 a bag, and people are led to pouder over the pasted to sil-rose from 2448 to 201. Is November of 8,000 bales showed an advance of from $1 to dropped rapidly to their normal level. The give a thought to the future The elderly may thwas but litle variation, the highest quota- $2, but the month closed quist with sales of 50 heave a sigh as they realise that they are losing thing 1/10 and the lowest 1/101, but silver bales and a rise in exchange to $1494. In in the race with time and sorrowfally have to re from 26 panes to 25. The decline November two lots of 8,000 bales were.pot which quality kan, again; Won, reduced by the being under-50,000 begs. This has been cruerd |

inged during December, and 1/92 was through. Exchange was steady and the cotton hed, but there was a slight recovery to position very firm. December saw the Indian O snd me we go to pre-n the quotation is market firm and sales of 3,000 and 4,000 bales

were put through hors.

admit that they are not so physically active as they once were, or that the grey haire are begin ing to show, or that the looks are begin. ning to thin on the top. The your ger have no The lowest rate of the year was 1/8 with such doterous reflections. They are eager farver at 234, and the highest 1/103 with silver the fatúra and anxious to fasto all its joys and

t264. all i's fresh experiences. Still, even the

The comparative steadiness shown during oncasionally view the close of the old year an

COTTON.

same as the previous season. Claime, however, quality of Selcoted Cassia has been about the Inve com-forward-on Selected Broken Cassia

hinese-The total export of Casa, whole and broken, is satinated at about 60.000 piculs, and Stacks in Canton and is the interior amount to about 13,000 pliculs

DIATTING.

The coalitions of the Matting market have this year again been unfavourable, both with regard to prices and the amount of business transacted. Contrary to the market expecta leasing them next so ao profi, if not with ou

the prospects are still for low prices during the first half of 1911.

Australian four bas net entered fia Colony to any prest extent, the receipts for the year largely by the higher prices demanded by the Australian millers,

BICE.

Kwangtung. Subscriptions were then com menenă

At the beginning of the year the rice market was firm and steady, and the quotations wore not. much changed during the first half. But it The cotton market throughout the year has

the end of June the feeling of the people became bron practically dead, and there is no stock in

easy on account of the continued drooght, and prices were consequently, advancing in Hong. kong, Canton sad diferent parts of the Hongkong at prosent owing to the high rates the advent of the new as a solemn time. A, the first six months of the year may be attributed from Bombay, and to the fact that Chinese | tions, prices continued to rale very low, thus Kwongiang proviˇee, At the time of the harvest cotton is exceptionally cheap and spoils the retail loss, Wha eas lost your about 380,000 for the first rios crops, over 70 per cent of the to activity in exports, and dullness in importe in so it should be. A little introspection China. Daring the next three months favour market for the Indian product. Throngbout rolls were traumacted, the lotul turnover for the Top was destroyed in the whole province of retrospection test prova beneficial.

able reports on orop prospects in kudia and heavy the year prices have been very stiff, and quite period under review amounts to only about by the charitable institutions in Canton to enable Still, Robbie Hurna says: "Who will purobasos of silver by Indian speculators led recently nearly twenty mills olosed in India 325,000 rolls. Demand from the States part them to sell risent cheap, rafen, Prions were ranid- that Fortune grieves him while the star of "by the Indian Specie Bank) resulted in keeping ing to the scarcity of cotton. This ments a the love him?" Optimism is the cult fole the price of silver up in spite of large stocks New Year, and I trust that most of us Arple held in London Bombay and China. Iter on the favourable expectations that had been formed to look to the future with hopeful eyes.

of the Indian crops were realised, and there It is rather remarkable that the Scots ald impress their colobrations on the world boy de. Et. Andrews' Day attracts attention mast

very small output, and there are no immediate prospects of a change for the botter.

sularly favoured the 16 warp Mattings, and, quality is deteriorating owing to the increased output as usual with the Chi ese manu neture, the

MATS AND CARPETS.

year, that compensating or the deficieus in The demand has been fairly sclico during the matting to some extent, Competition, has been very keen, and prices consequently have bran or no inducement to makers for the continas- quality of this commodity has been lowered, tion of the business on the same level. The owing to anremunerative prices.

from the interior. At the beginning of October when the second rica erop gave favanrahlo remise of a good harvest, pricos began to Aeoli o advancing large demands for ricel vir como

a little, but in some districts of the Kwang- tung-province, parts of the second rite crop- were also damaged for want of rain. S1), at the beginning of November now grain came freely to the markat, so that there was not much In the middle of December there were few came again from the interior, so that at the close of the year imper's and demands

prices were again rising.

places, In Hongkong it provides thosin, pot prics to id, higher than the forward) dificulties of doing. business have been all est down to very low figures which offer little demand for rice imported from Saigon and Siam

event of the year, New Your's Day with Christmas in Great Britain, and in Ħgkong also. Both Christmas and New Yongday are public holidays in the Colony, and would have it otherwise?

•

quatstion.

The year 1910 will be regarded by Hongkong was further speculation in silver, spoutalora storebanta trading in piece goods as one of a one time controlling the market and forcing the fairly satisfactory nature to most, but the along accentuated by the high level which bas These speculators wore largely influenced beon maintained for raw materials in both by the ides that the Indian Government would Woollen and Cotton poods. Exports from have to buy silver early in 1911. Subsequently United Kingdom to Hogkong for 12 months howovor, this idea pare way before au impres- ending October, 1910, show a large rednotion sion that the Indian Government might not after over 1909 for Grey and Whites, but on the all require to buy, and this impression and another hand Dyed and Coloured goods showed a

METALS,

The part your has brought-few-changes, and most articles have kept on a fairly low level, cord. Careful operators amongst importers, as without any flactastions of magnituds to ro

OFIUM.

It is a pity that the wards of theuld Scots song, uunlly sung at this time, not battar increasing dearness of money combined to force considerable increase. Printed goods have also well as aetivo deniers, have been able to fully was $1,485, and the highest 32,890,-The-year-

known. So far as I can remem they are

A guid new year tas ane and

An' mony may ye BOD;

An' in the years that are fag10 Aye happy may va ba, ;

*

I don't supose I am the first have noticed the several points of similarity Expen the Scots and the Chiuse. Bath makes speciality of celebrating the New Year, baf try to extract masis from the ohentor, and oh like strong apeeri'a on the occasion of the celebrations. Moreover, the namo Mak is on to hath•. Another point which show how the same superstitions are found in disst parts of the world is that they do not cargo use a bruah in the house on New Year's De Jest the lack of the house be disturbed.

I wonder if we have herd the last of the finest site" for a time. I is well to keep the -Government edgested up to the public sense of are enthetic And the practie but I am afraid our ideas of "look-see pidzin" will' Fordly warrant the expense of speeding thousands of dollars en returfing the are nader notice. Still we car let the grans grow? If the green blades can manifest themselves if the streets of Masao, urely there is no reason why they should nei appear on land untroddju by the fort of our treming population. To Government may at least giro the grass a dance by removing the large patches of coment looring.

The Governor made hi first appearance sines his return in the Legitive Founcil on Thurs day, and showed the he has quickly made bimself aufait with that is going on in the Colony.

the speculative group to let re some of their ho'dings to China, where the position was such as to mako purchase of silver nezssary. the close the stock of silver in Bombay is suf- ficient to most India's bazuar requirements for Nome time to come, and so it appears that the present level maintenance of silvor at its depots mainly upon largo exports from China and continued inactivity in imports.

The following tables may be useful to many readers for reference purposes :--

Exchange for 1910. Highest.

Lowest. 1/9

January... February

193

19

1/8

March...

1/ 8

April

1/9

11.9

Moy

1/ 98

17.94

June

1/9

1/98

July

8/9-

1/91

Angast

-1/-98

179

September

1/ 90

1/ 99

October....

1/10

1/ 98

November

1/10

1/101

December

1/10

17-98

Dar Silver for 1910.

sJanuary .....

244

34

February March April May

241

-23-

2416

24-1

24

2413

24

July

Jane

August

242

24h

253

24

248.

241

September

24%

October

261

November December

26

24年 2410 25

251.

THE SHARE MARKET.

23-9

increased Clearances have been fair during maintain, if not increase, their yearly share in the year. From January to May there was a the business leaving them satisfactory margins. At fair business doing, bat after that the dealers During the mouths of July and August a coin- articles, but a recovery has set in since then, began to order less and less. When the arntirely low level was reached for several last two months of the year one, orders which movement, combined with ingressed metals generally (to seemed to have dropped off altogether. In fact ratos of freight for the uma brisk autumn business had not been me into force on the 1st January), has braught forward a rather brisk demand for done this year at all. The reason ascribed as shipment up to end of Desember. The market responsible for this on state of affairs is chiefly therefore starts well supplied with ready goods a financial one, caused by Shanghai rubber and also for arrivals within the next few weeks, at reasonable rates- The year closes with a fair sproulations and general uncertainty and tight-demand in evidence, and sien on the markets at ness of money in the Kwangtang Province, home healthy feeling is predominant. There has been one large failure, a irm with Prices are generally considered on a safe basis

and compare as follows:-

30/12/09. 30/12/10. only $30,000 capital-loving-nrdered goods to the ex'ent of about $1,000,000 by means of the credit system in vogue bere.

A comparison of present quotations with those prevailing in January last shows a depression in nearly every local stock. The rubber boom has been responsible for this, for although Hongkong has not been so heavily involved as The Hon. Mr. Ostrae is never at a loss for a Shanghai, yet there was a good dent of specu- the boom telling phrase, and hi̟description of those people lation in rabber lolly wile who invade the New Territory with guns and lasted and local stocks have suffered in con- almost wantonly shot everything at sight assequence. With the elimination of the speca

gham apertamen particulary apt. I have lative element, a considerable improvement board complaints on the subject before, but I in the Colony's leading stocks is expected. was under the impassion that the magistrato at

Taipe would have een able to lave dealt with them. Still, it wil be instructive to have the

Government's anger to ho question.-

YARN.

SUNDRIES.

Silter Quicksilver Nailro.le

Leath

£

B.

..

9 14

£

8.

ส. 0 0 221 0 0 251

.0 7,12 0: 6 5 0 6 5 0 14 7 6 14 2 6 2-6 23 17- 6 10

56 13 9 0

0 0

KEROSENE OIL AND PETROLEUM.

Spelter... 23 Copper 62 Yellow Metal. 0

68

61

These have not been so satisfactory to import era es in former years. High prices of raw ma terials have had their effect. Still the constantly increasing demand for supplies for the new trades that are springing up all around us in a

For the first eight months of 1910 prices re. hopeful sign. Hosiery and other articles are now being made locally in large quantities and ained steady in comparison with those of 1909, but since then gradual redactions have taken many Chinese Srms are in direct touch with place, until, we understand, the price is now about manufacturers at home, so the general outlook, 3.00 per case less. This compels va to give although disappointing from a European im-redence to the many reports, which have porting merchant's view, is not altogether

unfavourable.

FILX.

D

FLOUR.

take

Bengul The-Indian Government enlist anation in 1910 39,600 cheata, aga a 43,200 in 909. Prices fluctuated very severely during the year, nd the lowest rate fonched for Patua commenced very remuneratively to those interested in the trade nntil April, when the Cantorr Opium Bureau issued notifications $30 per chest. In consequence of this the granting a monopoly and imposing a new tax of market became demoralized and prices recedná to about $1,200 per chest. British meroluuts protested to the British Consul at Canton against this illegal taxation, which is generally recarnised to be a breach of Treaty rights, hat to their disappointment the Consul viewed the position olurwise and refused to any steps/ In his letter to the British merchants, in which he expressed the opinion that it is immaterial whether the tax is paid by foreira ray opinm in bulk er in detail, prior to its b ing hoiled down, inasmuch as qually with native opium, it has to hear the incidence of the lary an purchase by the prepared. opium dealers, he overlooked the fact that the rafin between foreign and Chinese drug is 100 to 1, which he admitted later on. Under these circumstances the opíum merchants were obliged to ask the sesistance of the Chamber of Core- merco and the Government, who both have supported the merchants very energetically-and- mada strong representation to the British Minister at Poking end the Colonint Office guest this infringement of Treaty rights, Merchants are still at a loss to know when this illegal taration, which has ea siled on them loss of millions of dollars, will be removed. Malwa, This drag-has also participated in the rednetion of 10 per cent. The total oxnort to China during 1917 was 12,100 chests. Kates. for this description have also fluctuated severely due to the interruption of the trade by the and the highest Canton Authorities. The lowest rate for two | years Malwa was 51.380,- $2.750.

ROUGH AND SCALY

SKIN FOR YEARS

Face, Neck and Arms Affected. Bes came Very Red. After Washing was Sore and Painful. Te Go Out of Doors was Awful. Instead of Getting Better, It Got Worse. Used Cuticura Remedies, and Skin Is Now Smooth and Healthy.

"For six or seven years I had a very rough and at times scaly skin but not

very painful, until the Autumn of 1908 when "It became very red and after washing it was very sore and so pain ful I dreaded to touch it. To go out of doors was awful. I asked my doctor ahon and he told me I was on down and that it fald soon be all rig Eithe But instead of getting better it got worse until I gave the Cuticura Soap. Gutleura Ointment and Cuticum Pille a trial. Then I soon saw an improvement, and before I had weed the second set of the Cuticura Remodles It had completely disappeared, and my akin la now smooth and healthy. It was my face and neck and arme that were most affected. I may add that I have used Cuticurn Ointment for any bruise or scratch on my children, always with good results." (Signed) Mrs. Fal nie English, Harlington, Yeovil, Somer set, England, Deo. 7, 1000.

Cuticura Remedies are the most economicaf treatment known for Beetion of the sKET and reulp. Hold throught the world. Depots: London, 27, Charterhouse Bg.: Paris, 10. Rue de in Chaurace 'Aulin; India, B. K. Paul, Calcutta; o. Affira, Lennon, Ltd., Cape Town, etc. U. B. A., Potter Drag & Chem, -Corp., Sole Pro. Dastan. Port-fres

Cutlers Book on the skin,

CHS. J. GAUPP

& CO.,

ALEXANDRA BUILDIN

CHATER ROADS

ARE NOW SHOWING

A

VEDY FINE

SELECTION

DIAMOND

AND

ENGLISH

MADE

HALL MARKED

Persian. This has also shared in the fact in JEWELLERY

tions. The total quantity allowed into Chius for the your was 850 piculs.

COAL..

TONNAGE.

During the first few months of the year the

A LARGE STOCK OF

MAPPIN & WEBB'S

AND

PRINCES PLATE

AT TEBIE

LONDON CATALOGUE PRICES

appeared in the Home papers, to the effect that there is a price war on between the Asiatic Petroleum Company and the Standard Oil Company, with the intention either of, by The depression of the silk trade towards the reduced prices, increasing the consumption or end of 1909, caused by the stavation of busines, bringing the two Companies to a price saree mort. The result, we understand, is undoubtedly in America, coatiund during the first five beneficial to the consumer, fr on reliable in- months of the year under review. Europeen formation we are informed that the consumption factories being well occupied the most important of oil in China for 1910 is at least 15 per cent.

increase in conamaption abould not be attributed' The coal market throughout the year has been orders came from Lyens, while towards the end over 1909 Again, we may say that this of May the conditions of the silk trade in entirely to the reduction in prices referred to, anything but bright, but so far as consumem are concerned they have had no cause to com- America improved so that during the last but to the continuod hoivity on the part of the months of the year, from the beginning of Sey importing Companies above-me tioned, in plac-plain, for the reason th t contracts placed a year

centre in the inferior of China,

had to be resold on the market. Varions qualí. tember, the local market was ruled by ordering their oil-at all the principal distributing ago have usually shown losses where the cowl has coming from New York,

ties of the article hare breu placed on the mar The crops turning out very satisfactorily with

The four business for the first six months of ket, but Japan, as usual, tops the 'st of importe. 1910 proved a serions loss to all dealers in Hong. There has been a big increase in shipants from. pont to both quality and quantity, 1910 wwe a vors prosperous yrar for the Chingse, and the kong, to the extent of nearly half a million dol. Manchuris during the past twelve months, while can and the severe competition from Shanghai more so as the world's production of silk was lars. This was due to the high price in Ameri-imports of Indian con! have delined grea'ly. reluced by smaller crops is the porthorn mills, which were occupying practically all the The general tone of the market was very firm districts of. Cluiza, in Japan and Franca forritory from Canton northwards, curtailing freight market was inert, and it was not until in the first half of the year, but when reports Prices daring the first months of the year the American fl ar trade to Hongkong and the March that its tone began to improve particular SILVERWARE came to hand of American cotton being good underwent smell auctuations only. The batter South. Singapore drawing their requirements in the South, where a fair amount of business

from Australia farther limited the territory the way of time chartering was done. Pusiness prices fell and Chinese dealers were placed in a demand which set in very energetically in June operated from here: The consequence was that continued to improve util is April criars he

came nuirerans, and the tonzage available was. I understond hat some members of the very shaky position, one large speculator coming caused the Cuises merchants to refl cttocks stocks in Hongkong piled up to over a million

all Norwegian foznaze found employment in Legislative Concil in committee tried to to grief From September onwards, the poi at home were still large; buyers therefore wore bags, much of which became danared owing to not sufficit to meet the demand. I ractically

lying in storage, and was therefore unsaleable. "draw" the Distor of Public Works on the tion of both American and Indian cottors hav able to resist a serious advance for some time; To more those heazy stocks the dealers had to time churter, while after owners, raided by the Bubject of the Low Courts, but t'e Hon. Mr.ing changed, prices firmed up, and the general herides, the financial station mede many after a loss of nearly fifty cents per bag. After urgency of the strong demand, adopted the hold- Chatham w ory and declared that he tone of the Chinese market since has heen very Chinese very sautious and afraid of carrying the old floor had been sold and preparatious were ing back policy, thereby rcing rates up slowly made for the now American crop trade ravived. but steadily. In the North the anticipated in expressed the onions before that the building good. January opened with very small stocks heavy stocks. When, however, in August news

Shanghai mille found theuseles short of provement materialige Fooner then was expected, would be readyly the middle of this year and a firm market in Bombay. The sales here from Japan reported part of the second orop when and what they did have was in aid the withdrawal of some of the regular liners Plus only. Cost of Transport to

from the Southern market helped to strengthen totalled 8,000 bales with an advance of from 83 last on account of heavy storms, the prospects very bad condition, which, of course, render-

Hongkong. to produce the position of own On to $4. In the latter part of the month, however of a further rise improved greatly. After har. ed it impossible for them owing to the cheap prices ruling for cotton

ing purchased the cocoons of the fifth crop, in a flour that could hold its trade, with the re- Honkong run tonnage was in steady de mond sult that the four they had on stock lost much and retes worked their way from 17 up to 21 cents there was a decline of from $1 to $2 on sales September, the Chinese flatares miced thefe of its standing in the southern markets. The There was & decline of the market in May. of 5,000 bales. In the early part of Febrn- pretentions steadily, and encouraged by name.

trade of Canton, Swatow, Amoy and Foochow chartering being light and the ffering of ary 10,003 balos were pat throngh at cheap roue orders from America, reserved part then began to look to Hongkong for their flour tonnage limited. A good deal of rich was ship-

that the markets have of late been quite active, to the North. Coal freights from Ja an were usiy kow, and owners began to consider wheth prices, with business meat to arrive. Sales of their production for the kinde seked supplies. This at once stimolated trade here, so ped by regular linore in small-lots from Saivon

and CORTZE gixeu of 6,000 bales at the latter oud of the month for in this part of the world. This policy Flote arrivals have been heavy, in one week steady, business being done from Moji to Hong- it would no pay them better to lay their vessel amounting to 300.000 bags. Comparing the kong at 2. from Karats to Hongkong at #2, up rather than accept the poor rates chart vera saw an advance of from $2 to $4, wth. the, of spinning medium market firm. In March 10,000 balos wore in short reel and urglecting fine eizes in long receipts for the past three years, it will he found and from Hon ay to Hongkong at $1.80 per ton. were offering, September saw on increase listhe sold at su advance of from $4 to 5 reel offered the double advantage to the Chines that in 1908 the imports of American floor In the North there was practically no loose ton deman for tonange in the direction of Saig amounted to 4856,000 bags, in 1909 to 3,199,000 vare soeking employment, but the demand ab- to Java, while the arrival of the new rice in and another 8,000 atau advance of from $2 to of becoming judopendent of European orders bags, and in 1910 to 2,922,000 bags, showing a sided in consequenes of the Native Authorities Northern river parts gave promise of brighter improvement in Oot ber and regular liners be gan to get fuil cargoes. Toun for prompt 84, as there was a décline in exchange and no and of inere sing their production for Amprisa, falling off in the trade af last year of 277,000 stoppi-r the expert of cereals from the Yangtzo prospects. At Sairon the rice market showed some The cirmation of Christmas- und New Year stocks in Hongkong. Spegalation was rife in where better rates could be obtained. Prices Ing. Although 1910. shows this shortage in tiver ports. The Southern market showed an the receipts, it has to be remembered that there improvement at the beginning of June, with an cards renda ws that I read the other day that an ofert is being made to revive an old April, the sales being 10,000 bales at an advance for Europe jumped up by $40/50, this, combinare still soma heavy shipments to gone fore rd increase in chartering operations, but the North- loading between Saigon and the Philippines fashion it what may be Bed the illustrated of from 84 to $5, but at the latter end of the ad with a zis in exchange furing October, zande under the purchases for 1910, so that 1911 is en market was duth, while rates began to recede. was it good dewan and requirements were visiting . I am not quite sure whether the month the market was quiet and 3,000 sales the laid-down onst so high that the regular busi likely to make up for the loss of trade in 1910. The month closed, however, with a quiet market. only partly met. There was an improve were rractically prended, while cual frei hts besiness in the South, w s extremely dull, The pietace end is illustrated with scenes from life

trade through 1911. as the hanghai mills will

of depression. Orders for pro los ligand or stated to be the owner's photograph.ased a decline of from $1 to 32, and notherness with Europe became interrupted, and was The prospects point to a coutinnance of the Chartering operations frout Saigon to Hongkong ment in Northern freights in November, but I faucg that if the latter he the form which the 2,000 a further decline of from 83 to $4. The possible on a speculative basis only. Ameriou be unable to make much headway before from Japan weakened. The Pamo unsatisfactory year closed with the market still showing signa

their new orop.. It is now a question between state of affairs ruled in the fellowter month, craze takes it will sdu kill itself. The question markel was still very quiet in May, sales of 1,000 buyers could pay the high rates asked her un- of wh the lads is out or in would not depend and 3,000 be'ng effected with a full on the first til the Chinese limits were considered out of the the products of North Chins will and of when the market was almost bare of orders. almost entirely bent, and 5116 on

American mills as to which will hold the trade This applies particularly to freiz leta from Saicon charters put through were don then so much on her disposition as it would en lot of from 32 to $3. Sales in early Jans were way and business with New York from Septem- Aath Chins. The high price prevailing for whore the rise market assumet a downward instances, hurdly surtout the photograph appearing on the piece of paste hand handel to her. She would decide thon 16,00 bales with the market firm and consider bor till beginning of December may be called very gome years in America has been the canse to a tendeboy and a stop was put to chartering expenses. In view of this and whether she 1 kad her appearance or not. It able speralation. There was a dull tendency satisfactory. We are entering the new year with larze extent of the loss of the trade, en allogether. Northern freights, which Takeda number of steamer having co here at a dumping ground for their surplus while con freights suffered in consequence many brate will find it patrol seans to me that the partnse of a card is so towards the close of the mouth, however, and arise of about $120 for the kinds used in Europe though the American mills nsed the markets promising short time previously, also fell of, waters from the North, it is admirably fulfilled by the plain, conveniently. shaped pisce of paste beard, meatly inscribed on tothed 500 bales. In July 1,000 and about $100 for the sillos epaa for Americs, bore et doing wer has shown a Corsidees of the oversteeked market and general slackness, keep moving in the near. Is

a desling of compared with petoes ruling in January, 1910, bis reduction in the price of former years. Augurt saw a dull and inactive sinket, the the North are abo unfavourab Areopvery is not expected with ons's name and address, that there seems bales were put through at to be reason why we should depart from it from $1 to $2, and heary bargains were Although prioen have declined lately for goods The Amerivin farmers have act had the saine little business done heig in coni fix The weakened all round in that qu until some more sensible scheme is devised.

made, owing to a large quantity of stock in stock, owners are not disposed to accept lower control of the situation. The European mar financial crisis in China st this period slayed

kets have refused to take their surplus wheat at havoo with business generally, Freight the February, when; according t HODERICE RANDOM

being in the hands of Chinese dealers. Another rates for forward delivery, which proves their the extreme price for which they were holding, South, except for some special trade, were rain new Saigon crop may he ava

1

I atraest mjà a slip there. Next year" came so toppjely to the teague, or, rather, the pen.elsh have to be careful with our dates for s fe dage.

And so first of the good-byes to our Colonial Besatary have hon said. These long draw out adok zre very vine, and I am sure that both fr Henry and Lady May will be glad who they have get over and recover from the vach of leaving the place which has known the so long.

the Sairco.

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