1933-01-05 — Page 19

Raw Sugar Market, 1932.

EFFECT OF CHINA'S INCREASED TARIFF

We are indebted to Meirs. Pantreath & Co. for the following report on the sugar trade during 19351

The principal feature of the Raw Sugar market during the year now closing has been the stendily declining prices of Java : Sugars which form the bulk of Hong Kong importa, and it is safe to say that no dealers baye made any money from this source. This decline is not so pronounced when comparing the local resale prices as a falling exchange has tended to increase the dollar values, although, with the exception of period immediate- ly prior to the imposition of the new duties into China on 1st - April, at practically no time during the year ban-the-Hongkong. nott value been on a parity with the replacing costs. For the sake of comparison we give below a table of the different values' during the first week of each month, viz:-

Muuth

January

February

March

April.

May

June

July August

September

October

.. November

December

Whitea T.T.

Whiten

H.K.

Jara Parity

7.70

01.

4.70

Q.L.F. 4.75

7.43

61.

4.51

4.05

7.25

61.1

4.42

4.30

7.50

00.1

4.47

4.47

7.50

56.1

4.70

4.47

7.40

56.

4.13

4.32

7,40

30

4.00

4.27

7.40

50.j

4.13

4.27

7.10

65

4.11

4.22)

7.20

50.1

4.04

4.

7.50

51.

4.07

4.35

...... 7.35

51.8

3.07.

4,05

Tariff Causes Heavy Buying..

the

Owing to the low price to which Early in March it became known Cuban Sugar dropped at the be that the Chinese Government co-ginning of the year, a few cargoes templated revising import of Cuban 968 found their way to duties on Sugar, basing same on Hong Kong at prices which Java polarization instead of colour, and then refused to moot. The bulk of that duties would be greatly in the Cuban Sugar went to the local creased; this led to heavy buying Refinery, although some 3,000 tons and any Sugar that could rouch a went into direct consumption and Chinese port of entry on, or before, proved a very profitable venture 31st March' obtained a premium. for the importer. By the time the Two or three steamers, outside the Cubans reached here the American usath carriers, were chartered, une market, had advanced and Javas being diverted while en route to

were cheaper, so that there was no India with a full cargo of Sugar chance of repeating the transac which was landed here.

tion,

Now

Reaction.

he in hands of one or

The outlook at the moment is This short period of activity, very uncertain owing to pending was followed by the inevitable changes in the selling organization reaction; stocks of Sagar in the in Java. The Trust (V.J.P.) has China ports were very heavy and been disbanded and proforged dis- buying practically ceased. eussions have been taking place be Unfortunately, there has been no tween Mill Owners, and the D.E.I. return to normal buying and apps Government as to the formulation rently no prospect of such a con-of a unified selling plan. The Gov dition is in sight. With today's ernment favours a Single Seller" values and present exchange the under Government control, and this duty on White Java Sugar into scheme has been recommended to China amounts to over 130 per the Hague. However, whether the cent which puts the article out of selling is rench of a vast majority of the more, prices will be fixed by the population. The imposition of the Government, and a more vigorous new duties has been of some bene-selling policy is predicted. It re- be Betu whether an fit to Hong Kong whence large mains to quantities were shipped by native attempt will be made to advance craft for smuggling into China, prices or not; offerings on this However, the activities of the smugglers Have been curbed to a grent extent, and very little Sugar is moving in consequence,

At the close of the year, stocks in During the year under review Hong Kong are not excessive being attempts about 10,000/12,000 tone (excluding there have been soran made by importers to regulate the Refinery stocks) and very little for preward business has been contracted price of Raw Sugar and so vent, or lighten, the heavy losses for. It is therefore possible that with which dealers were faced, but any revival of shipments to China these failed owing to Java's an(legitimate or otherwise) would xiety to make sales at almost any cause a sharp advance in the local

values of Raw Sugars, price.

FLOUR AND WHEAT

BIG STOCKS NOW IN HONG KONG

*PRICES VERY LOW

market for shipment early in the new year would indicate that the roverse is anticipated.

FRESH FRUITS

IMPORTED ORANGES, APPLES AND GRAPES

1932 QUITE A GOOD YEAR

In reviewing the four business

The principal imports under the in Hong Kong, leading local heading of "Imported Fresh dealer states that business during Fruits," writes a prominent dealer the year has been fairly good but in this line, "

are apples, oranges Chiocso wholesalers found stene dif- and grapes, and considering the ficulty in selling to the interior, low level to which the Hong Kong because of the keen competition dollar has fallen, business so far from Shanghai.

as volume is concerned compares Owing to the high prices prevail-favourably with the previous year: Oranges, however, has had a bad ing, American four did not find much of a market here this year, year and the import of this frait the exchange being a big factor against it. Australian flour, being cheaper took the business that was hitherto enjoyed by Americar four

[

KONG DABY FR

RICE EXPORTS

DECIDED FALLING OFF REPORTED

BUYERS NOW TURN PRODUCERS

the The following report on your's business in rice is obtained reliable source-one of the from biggest handlers of rive exports in the Colony:--

T

"It is somewhat of a farce to try and review the rice trade during the past twelve months of the year, The erstwhile consuming centres of this cereal have become producers and there is a surplus of rice crop in almost every country io the world.

Peru is the last to drop the im- portations of rice and there was practically nothing exported this year from Hong Kong to Peru. The following figures of exports to|| Peru in the past may scem illų- 'minating:

1926 — August Shipment-

tons at 19/3d per owt

1927-September Shipment-354

A Brief Description

of Cognac Brandy

We are indebted to Messrs. Gande Frica Co., Ltd., for the following article on Cognac Brandy-revealing many storets of the trule," and explaining the difference between Cognac Brandy, and other varieties of brandy.

wine in ready for the still. The alcoholic strength is now about 9° though this varies according to the wine and the harvest. A dry season will produce wine of a high degres, though less in quantity: whereas & wet season produces wine in greater quantity but of a lower strength, generally speaking...

It is common knowledge that ferment. After about to days the Brandy is a spirit, produced by the distillation of wine, but perhaps few people are aware of and realize the important difference between Brandy, and Cogne Brandy The latter is the distilled product of winos produced exclusively, from grapes grown in a clearly defined area known as "The Cognac Dis trict of France," which practically corresponds to the geographical limits of two counties The Char ente and the Charente-Inforic two departments in the west of France,

The old fashioned Pof Stils are

used for distilling the wines of the Charentes, and vary in size, but a Still capable of receiving 700 litres of wino is about the average. After the first distillation, this quan- It is a region quite apart and tity is reduced by about two thirds characteristic both as regards its of its original volume, and tho

obtained is 3121 climate and the nature of its soil, liquid.

--known' .04 and was thus legally recognised in" Brouille." This is returned to Decree dated 1st May, 1909, which the still, and a second operation described Cognac Brandy as The takes place, producing a spirit of product of the vine grown and dis-

an average degree of from 15 to 20

This is known as tilled, within the limits of the over proof. Cognac District." In order to "Bonne Chauffa" and is destined" force the Decree, and to give to to become that incomparable, "com- Cognes Brandy its legal rights, a forting, stimulating elixir "Cogimo

cortificate WIN special

ercated Brandy" the very quintessence of known as the acquit" Jaune D'or,"

wine, and is scrupulously controlled by the French Excise. The Law is so effective that no Brandy can be shipped under the denomination Cognac Brandy unless it is absolutely genuine.

1360

1004

013

tons at 17/6d por cwt 1928-August, Shipment

tons at 15/8 për cwb.. 1923-August Shipment tons ng 18/5d per cwt. 1930-September Shipment

tens at 10/- per cwt 1031-June Shipment-900 tons at

10/- per cwb : 1032-November Shipment-

tons at G/- per ewt:

12

The Peruvian soles" have de preciated considerably in value ro lative to Sterling and. American dollars and this factor has firmly put the lid in importations by that country.

For the same reason, Japan with hor depreciated "yong" cannot buy rice. The United States have not even ordered Chinese "Paklings" and Seemius."

there is absolutely no export business in sight for the new year. late prices and to pool Rangoon rice-sales in the United Kingdom

As far as can be seen

The recent arrangement to regu-

will have a disastrous effect in

millers at Sinm and French Indo China, and Indirectly will effect the business in this Colony.

RADIO AND RADIO PARTS

~ A GOOD YEAR REPORTED

The radio industry has develop ed in about four years into one of the most progressive of the world The Colony though slow in starting or this line has made great steps forward in the past two yenra.

Two years ago, there were not more than four retail radio stores but to-day there are over thirty tores where a person can choose between

soventy various makes. There are radios that sell for $100 to sets that cost as much as $1,200,

The first commercial radio made by Westinghouse and it is interesting to note that they were also the first to give a pre-announ red regular broadcast on November

1920 and has broadcast sincs,

Was

ever

Tho success of the radio industry in the Colony depends on the broad cast reception received and the local Broadcasting Studio is to be congratulated on the strides they have made to bring their pro grammes to a level of other outside is estimated to have decreased by studioe. Of course there is much 25 per cent, due, no doubt, to the to be done before we can have an outbreak of cholera during the sun-al day programme and when that mer months in Hong Kong end in day comes the Hongkong radio Canton... This has caused wide owner will not have to depend so Local purchasers, however bought spread curtailment of soda foun much on Manila and Shanghai for quite a good proportion of Canadian tain business throughout South their radio entertainment. four as this had to be used as a China from August to October, nixer when making noodles. which normally, is about the best Generally speaking prices are very time of the year for this type of low at present and higher prices business." Arrot anticipated for the coming yent. The world's whent position reveals that the surplus of wheat ia far too big for the demand.

dealers.

So far as the Hong Kong market concerned, prices aro at their lowest and large stocks are on hand at the moment, which seems to in- dicate that there is no likelihood of prices going up in the near future.

2

Hour imported to Hongkong during the year from various coun- trics is as follows:-

United States,

bags. January to June 073,379. July

107;500 August

....167,260

173,358

In line with the general drop of commodity prices, the fruit mar- ket had re-acted sympathetically and this factor has undoubtedly accounted for the maintenance of the 1931 returns.

Fruit export prices were from 10 to 25 per cent. below those of the preceding year, but it is not por sible to mention, the returns at the time of writing.

The Radio industry has, it is reported, greatly reduced the sales for ordinary spring would gramm phones and has also been pry harmful to the record, trade. **

Chinese Support,

Legally Guaranteed. Cognac Brandy being thus legally described and guaranteed, it was still further protected by the Law for the depression of Fraud, a men sure completed by the Decree of May 6th 1910 concerning original denominations.

The region of Cognac is sub divided into separate districts of Champagne, Petité Champagne, different growths namely, Grande Boderies, Fina Bois, Bons Bois, Bois Ordinaires, and Bois Com

mina.

They are placed in their order of merit, the Grande Champagne, pro- have contributed the most to extend during those fine Brandios which the renown of Cognac the whole world, over.

1

The Wood, However, before it is palatable it has to be thoroughly matured over a period of several years. The choice of wood is very important, and casks made of the finest Limpu- sino oak are used, for much depends upon this for the proper ageing and maturing of the young Brandy; During this period much care and attention is necessary in order to heads in proper condition. A new preserve the thousands of hogs cook may deliver too much tannin

from the wood, or an oldscask may ruin the bouquet, so that constant attention has to be given, and pre-

liquid be spoiled. cautions taken leat the valuable

Then comes the time for blend- ing. This is one of the highest arts in the history of Cognae, and is the work of experts that only years of To produce Cognac Brandics of un- practical experience can produce. failing quality, of the best assorted growth of the Charentes, and to ship many thousands of cases An- The Vineyards extend for miles nually to all parts of the world, is over the country-side, and the per-due entirely to carefully conceived son who sips a glass of Cognac after blends, which take into account at a good repast very possibly does not the same time the source and the realize the toil, and almost religious maturity in casks of products al- care taken of the vines, from the roadly ablected at the moment of dis-i time they appear as dead roots after tilintion. To do this, tremendous pruning, till the neatly labelled stocka must be bald, either ready bottle is offered to the public. The for bleeding, or undergoing the pro- Vinos have countless enemies. Black Rot, Mildew, and the dread- ed Phylloxera, to give only a few examples, but thanks to the scien- tific research work carried on by the station of Viniculture under the supervision of an expert, and by continual treatment, the vines are able to resist the ravages of these diseases.

Harvest

Towards the end of September or beginning of October, according to the season, the grapes appear in large clusters on the vines, and are ready for plucking; the result of months of tender-treatment, and. very often moments of anxiety, for a lato frost can ruin the fruits of all ones labours. Men and women are engaged in picking, the slow but stately ox wagons make their ap pearance, and the grapes neo trans ported to the huge wine presses, as a rule situated in close proximity to the distilleries.

cess of maturing.

After the blends are determined.

and approved, and reduced to the desired strength, during the course of which they are filtered on their way through the blending Vats, the brandy is again run off into hoga- bends and despatched to the re- serve warehouses, where it is allow- ed to rest.

Such is a rough sketch of the production of Cognac Brandy from the time it appears in the form of grapes, till the moment it is ready for bottling.

The Final Stage..........

It is comprehensible that the Brandies are bottled under various marks, which differ, only in price according to age, the quality bring always the same. Before reaching the bottling department, where it is delivered into Vats corresponding to the mark required, the Brandy is As the grapes are brought in they again Altered. It is then filled into "Cognic" shape aro first of all passed through the familiar grooved rollers. This is to break bottles, which have been previously the skins before going directly into selected,, washed, and finally rinsed the Wine Press, which is a round with a similar Brandy. Specially structure composed of upright chosen corks of the finest quality are used, capsules are fitted, labels pieces of hard wood, separated to allow the juice to escape, and the fixed, and as a final test each revolving press that is slowly scrow-bottle is examined under a power- ed down onto the pulp. Some are ful clectric light. From there to still worked by hand-lever, but the packing floor, to be subsequent the most up to dates are now run by by stacked in miniature mountains electric power.

of cases awaiting the shipping marks that are to guide the cases to their destinations all over the globe.

The product of the presses is run off into barrels, and is allowed to

To the Chinese, the radio is a source of real enjoyment because the most, elementary receiver has a range of over twenty different pro grammes to tuns into at almost THE PAPER TRADE other thoap printing paper were çar.

any time of the day or night.

There are nearly 4,000 receiving sets in the Colony and the revenue dorived from these seta helps to

Imports of the fancy grade fruits, such as melons, etc., have a defray the expense of the Broad decided improvement to report." This has been brought about by imenting Studio. A fee or license of proved storage facilities introduc$10 per annum is levied on every ed by the retailors and the enter owner by the Government prise of the importers concerned, Thore are two brunches in tlio The businers in imported fruits radio industry, the making, and from California, conservatively es. the repairing or servicing of setá timated, must ran over Hong Kong after they are sold. There are $1,000,000 for the year 1832 very few services stations in the Colony that can put out repair -work on a par with workshops in England or America, the main lrawback being the Jack of com petent radioengineers who will of work for a moderate salarga

September

Oopper

180,100 2111,250

1931 total for year

Canada:

January to June

W370,504.

September

59,800

October

120,270 330,163

34,000

1031 Total for

55,353

July

August

237,011

June-1,701,020

September

377,484

October

5291756

21931 Total for gear

January to Juno. 3,246,506

- One of the biggest service stojaon in the Colony with “pjë-to-date. naterial necessary in repair work in owned by the Radio Services Ltd, and a walk through their ser

VERY BAD RESULTS ON YEARS WORKING

LOSS REPORTED BY LOCAL PIIMS

year

Local Arms handling the trade, have had an ady and losses are reported from seve

at sources. It would seem that. focal buyers: DIY mum stocks and orders were placed

ring the

Writing on the business, one

in close to

více station is an education' in'rit" "good" during the self,

of

ried over from the year before and very little fresh business was done, Mills in Europe having had to keep their works going to avoid deterio- ration by rust to their machinery, accumulated large stock in their warehouses and this was offered, st tidiculously low rates despite the fact that exchange has gone up. roughout the year, Japan was not in the market for paper at all. The institution of new customs, in China and other tax has slowed down the

of cargo from Hongkong oek has acerimusted.

LET THE BEST WHISKY GRACE YOUR TABLE }

SEE THAT THE BOTTLE BEARS THIS LABEL

SOLE AGENTS

GANDE PRICE

& CO., LTD.

WINE AND SPIRIT MERCHANTS

ST. GEORGES BUILDING

ICE HOUSE STREET, HONG KONG

TEL. 20135.

TO OPEN

Kenere căpmie

rains lover and push upwards.

Haig

and pushi

NEW BOTTLE SEAL

SAFE

(NO CORKSCREW) "CLEAN QUICK Nobody can put better Whisky into any bottle than that which goes into the Haig bottle.

Doctors are using"

Judges are using it

Bufferers from acidity And it preferable to any other stimula

SOLE AGENTS

GANDE PRICE

& CO., LTD.

WINE AND SPIRIT MERCHANT