1923-05-28 — Page 3

Page

Okch

THE RECORD OF QUALITY.

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OKEH STUDIO.

8. De Veux ROAD CENTRAL (CORNER or Ick

HOUSE STALET).

A

TEL NO. CENTRAL 4453.

"EVERYTHING ELECTRICAL

Including the World's Most Fascinating Hobby, Radio,

WIRELESS OUTFITS.

These may be had complete, or you can obtain the necessary parts and build your own outfit.

HONGKONG HOTEL

CO.,

LTD.,

701).

ELECTRICAL DEPT. PEDDER ST.

YE OLDE PRINTERIE, LTD.

14. QUEEN'S ROAD CENTRAL,

(71

HAVE REMOVED TO

Tolophone 3797.

V. C. LABRUM, Manager.

Just Received :—

ין:

MANILA HATS for LADIES.

Popular Designs and Various Colours

at

ATTRACTIVE PRICES

Early Inspection Solicited.

SWATOW DRAWN WORK CO.,

16, Des Voeur Road Central, Hongkong

P. O. Box 445.

SOUTH

Telephone No. 2860.

THE HONGKONG · DAILY PRES), ̈ MONDAY, MAY 28TH, 1925.

THE FOREIGN TRADE OF CHINA. 1922.

“ANNUAL REPORT OF THE CHINESE

MARITIME CUSTOMS.

In his report on the foreign trade of China for the year 182, Mr. J. W. H. Ferguson, Statistical Secretary of the Chinese Maritime Customs, says :--

CHINESE COTTON MILLS.

PETITION TO GOVERNMENT.

12

The following very interesting articla is | kaken from the Bulletin circulated by the Chinese Government Bureau of Economic Information : ---

embarrassment of the cotton mills caused With the object of relieving the huqucial

by business depression, the Shanghai "When writing last year's report it was Cattan aliff Owners Association has sub- possible to polit to certain facts and mitted a petition to the Government, circumstances which appeared to justify outlining its plan for thunting a fan of an expression of the opinion that the 114, 20.000.000 to be raised in China ami world economic, [worst point. Whilon land passed its abroad by organizing a serial cotton it is generally believed ymligate and issuing debentures. The that conditions did not been worse growing portance of the cotton trade in than they had been the year this country is painted out in the petition expectations of an by a brief review of the rapid development.

early and recovery of trade of the cotton industry in the past fon

du all

and industry

were doomed t() dis- sppointment. It is true that in many branches of trade and industry the descend ing curve of business depression was arrested during the course of the year and then continued to undulate more or less on the

same level for several. inonths and even ahowed a distinct upsurd trend in some countries, America especially. The factors impeding business recovery, however, were

years. In 1817 the total number of spindles in the different entton mills in this country was about 700,000 and at

present the figure has swollen, ta 2,000,000

ower

Likewise, the assets of the cotton milis in that year were valued at and at present the figure has reached Tls. between Th. 20,000,000 al Tis. 30.000.000

ere 100,000.00 The growth of the cotton improved the uancial industry has market and raised the senle of wages of the labourer

too strong to be completely overcome, while any problems still require to be solved before normal international trade relations can be satisfactorily re-established- and maintained.

WAS

The rise in the exchange rate of guld and the delay in the delivery of machinery In China, unfortunately, the year 1999 by foreigu finns, however, caused serious.

bal one both from a commerical and

losses to the cotton mill owners, continues general economic standpoint. In their at- the petition. The çivil strife in the mun- tempt to liquidates finally the after-warry has been responsible for busines position werchants made valiant efforts to stagnation and what crowned the hard. overcome the ditliculties confronting them, ships of the cotton mill owners was the and although any have had to give up failure of the cotton crops last year, which the struggle and abandon the field, those sent up the price of raw cotton tonn nn who have weathered the slump emerget arealented height and place, the han with renewed energy. Even if the

position 1922, therefore, wax, hot i god year from over. If the metton mills are allowed to the standpoint of profits, the underly. remain in their present condition ther

conditions, positions ferred to in

promising. The will, in a year or so, he compelled to close and a large number of the half million mill workers now employed will be thrown out of employment. The presence of such 11 imarense number of unemployed workers would constitute a serious menace to the peace and good order of the country.

de.

in a

A COTION SYNDICAVE,

30 be derived from the of such a syndicate,

frozen last year's report have to a great extent been liquidated, and the financial situation at the end of the year was bu lieved to be under then it had been for some time.

In fact, it was to a large extent the ready, assistance and accommodation extended by the banks which proventivi matters becoming worse than they were. As regards the inmediate future and the

In order to find means to relieve the outlook for the coming year, it would difficulties of the cotton mills, the petition. futile, in view of the many condicting under inform the Government that a enton uncontrollable influcces which bear on the syndicate should be argume raise situation, to attempt to express fands to funny the cotton 'mills issuing defaite opinion on this point. It is always debentures, in Europe, America and thi pasice to be pessimistic than to look for home market. Threg advantages, they hopeful signs, but it that in common

with six montioned claim where during the lape and America, organization

months of "amely: (1) the syndicate itself need no 1929 there were Welcome signs

of current capital; (e) when the banking awakening activity and increased

business of the sendiente is roufined to the mand, so in China the feeling prevailed cotton mills alone, it is ensy for the in some quarters at the close of the year syndicate to watch and study the financial that the upward swing of the pendulum standing of its debtors and (3) that the loading to trade revival wight be looked for and that the end of what no doubt had syndicate will form a medium between th been an exceedingly trying period had been cotton mills which have surplus wealth to invest, and the mills which need capital.. reached. In other directions also China

The petitioners further inform the has

continued to develop daring the past year, and it will have been seen from the verament that their plan" has been wi

dorsed by foreign bankers and financiers preceding pages that the grass values but in order to put it into execution the the import and expert tre as well as the tiovernment is asked to exempt raw cotton Customs revenue exeged the previous year's from likin, and levy a special surtax of figures by substantial mounts.

Givery therefore, reasonable freedom from internal e tael on each bale of yaru, which sur- disturbances, there is no reason why better tax is to be used as security for the re- results then obtained in 1927 should not demption of the debentures. The manage. be looked for in the coming year."

mant of the cotton mills which make use of the Joan proceeds for their capital will CUSTOMS REVENUE,

he subject to the supervision of the The total Maritime Customs revenue col-syndicate so as to scure early repayment, lection for the yeur amounted to Hk. Ths. Loans mada to the mills by the syndicate 58,634,250, 1$ compared with Hk. Tls will be redeemable by yearly instalments.. 54,402,634 in 1921, 进门 increase of The exudicate on receipt of such repas- HK Tis 4,171,606 These figures do not include famine relief

Tents from the debtor mills will use the 724,944, the collection of which proceeds to redeem debentures According the Maritime Customs ceased on Febru-Tis, 30,000,000 loan covered by the deben. to the plan, the entire amortization of the ary 28th, 1992.

Feduced to sterling, attures will be completed in eighteen years. an average rate of exchange of 38. Pd., The Government is requested to guarante the 1922 collection comes to against 10,764,882 for the 0,993,029 19 the redemption of the Joas, because when i previous year, it is secured on Government revenue, its when the average rate of exchange was credit will be enhanced in the eyes of the 39. 11d. Towards the total increase of 4.2 millions taèls in 1922, import duties Public and the issue of the debentures contributed 1.4 million, export duties 1.3 will be fasiitated. million, and tonnage dues somewhat less than 0.5 million. In the face of the very unsctted state of the country, these results again demonstrate the extraordinary vital ity of foregn trade in China.

VALUE OF TRADE

tax,

Net imports, ., gross imports less re exports of foreign pr

produce to foreign countries, were valued at I. TIs. 845,049,050, and exports of Chinese produce abroad totalled Hk. Tis. 6054,591,933, the

correspond- ing figures for the

preceding year Ht Tia.

Tla. 906,722,439 and H. Th.

The question has reveived the attention of the authorities in the Government, who brought it up for discussion at one of thei recent Cabinet meetings. The decision thys far reached on the question is that it should be referrvil to the Ministries of Finance, Foreign Affairs, Agriculture and Commerce and the Suiwuchu to be considered conjointly.

Leing

The Marconi Company propose to buildi Ths. 001,55,587, a powerful wireless station in England There WAS accordingly an increase in the for commercial messages. It will even value of net imports of 38.9 million taels, and

in the value of exports of 10.8 million taels.

tually be linked with ten other stations

The total direct foreign trade of China in different parts of the world.

in merchandise (treasure excluded) in 1922

thus came to Hk. Tia. 1,500,041,583,

against Hk. Tls. 1,507,377,075 in the preced- ing year, which represents

of 92.6 million taels. It tal- advance in 1922 38. 9., an entirely different aspect

will

country's trade, re- be noticed may be presented by from the above figures that gain

that the result of lationship with China when the tal values been on are converted into the currency of the coun-

China's foreign MANCHURIA RAILWAY the song ade, the Ldverse balance, for try concerned.

Oreratiko all. Lazze in South Maxcruria and Chosen (Koura) Eaft or MULDEN.” ....

SUMMER HOLIDÁY

RESORTS

NO20

พ

1992 amounting to Tls. 290,000,000. The movement of treasure also showed excess of imports amounting to Tls 40,000,000, so that on these two accounts the unfavourable balance was not less than | some Tis. 330,000,000,

JMPORTS,

Although the value of net foreign importa during 1922 showed an increase of Hk. Tis 38,927,911 over 1921, owing to the fall in exchange the total in sterling was £1,903 554 This improve

8OUTH MANCHURIA AND CHOSE

below the 1021 ore values is satisfac- The value of exports to Hongkong ment in the total increased 17.1 million tacle, while Singa tory as far as it goes. In considering the figures and volume of goods imported into BOSHIGAURA-Finest Besside Summer Holiday Resort in North China. Five mies pore took fewer goods from China in 1929

from Dairen, but connected with the city by special motor and carriage road and electric from British India, on the other hand, ber the fact that, owing to the special con-

to the value of 4.1 million taels. Imports Chion, however, it shoves one to remem tramway. Yamato Hotel (35 roome) and 12 furnished bungalowe in charming cliff garden |100)

în which trade is carried on by Bathing, Boating, Fishing, Golf, Tennis, Billiarda, Orchestra twice a week. Capital plaer advanced 7.8 million tacks; but imports fitting

from Great Britain dropped 1.6

foreign importation to the people, but rulo houses, who as a for children.

in do not sell OGONDAI,—Most beautiful and select Seaside Resort in the Far East. Two miles from Portals, which is offset by an increase

of the goods to Chinese Imports froin Germany continued to and were valued in 1923 at 24.7 trude do not necessarily imply that all ties shown in the Customs statistics of taols, as compared with 13.3 and 54 lions in 1921 and 1920 respectively.

The commoditica enumerated have found buyors to and been absorbed by the country or even value of imports from France can to heen taken delivery of hy the dealers 4.6 million taels against 9 millions

Large stocks of all sorts of articles at the in the preceding year; exports France, however, record a satisfactory in treaty ports testify that such is t

is unfortunate Japan increased 21 million teels and have gradually being disposed of the disturbed crease of 16.8 million tacle. Imports from ly not the case, and although it is gratify- to be able to my that stocka are now reached 231 millions, which is nearly double the amount of the pre-war year 1913, t

stats of

of large potential purchasing districts Imparts from the United States lost ground in the interior

As regards valués,

to the ports to the United States were 97.6 million phould be romarked that, owing to taels in 1922 as compared

with 80.5 millions

downward tendency of prices, especially in 1927. It should be borne in mind that, during the early part of the year, a decrcas owing to the fluctuation in the average goli ol total value assigned to a certain article value of the Haikusa teel, which in 1913 does not per so connote & decreased volume equalled 34.: Ojd., in 1921 38, 11yd, and of trade in the goods concerned.

(Continued all four of next column.)

(To be continued.)

Arthur. Formerly the Summer Resort of the high Russian officers and officials, Yamato exports to Great Britain of 7.6 millions dispose

dealers Or middlemen, the quanti

Hotel and villas and bungalows, mostly with detached servants quarters. Excellent Balking, Wonderful Boenery, Historis Battlefields, Rained and Dismantled Forts Miles fo sharmick Waike and Drives Abundant Pignicing Facilities. Orchestra twice a week Etet place for high-class families. PORT

two memorable Sieges and its beautiful landlocke ARTHUR.-Famons for ita Harbour. Exactly one hour's journey Dairen by express, train. Yamato Hotel (16 rooras). Suficient place of historical and scenic interest to fill a month with a fresh walk or drive every day. Most healthy and alubrious spot in the Far East. HONGOSAN-The famous Diamond Mountain of Kores. A special Summer

rivalling Switzerland for climate and scenery. Beautiful peaks and charming cascades. Grand recuperative qualities. Kongusan Hotel (10 rooms) at Onseiri and Chosuji Hotel (11 rooms) a Choonri

Kakkar M

All mador the diresa management of the SOUTH MANCHURIA HAILWAY CO. Brated Booklets and all Information post free on request.

Applications may be sent to the Hote! Hxastem at the various resorİK OF W

THE SUFERINTENDENT OF HOTELS Trafis Department

FOUTH MANCHURIA RAILWAY, Deirea Da ble! Add. Mantetan Jode: A.B.Q. 5th Ed, 41 & Llaberi

to

to the extent of of 6.8 million taela, but ex in this direction, acts detrimentally

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