Directory_and_Chronicle_1902 — Page 664

CHINA

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Tls. 75,606,360, as against Hk.Tls. 103,465,048 in 1899 and Hk.Tls. 77,618,824 in 1898, but exchange was higher, and the year turned out well for importers.

"The value of the Woollen Goods was slightly in excess of that of 1898, and most of the principal staples showed an improvement on that year, though nearly all fell below the import of 1899. Camlets, Long Ells, Lastings, and especially Blankets were imported in excess of the arrivals in 1898, but Spanish Stripes and Italian Cloth fell off.”

"Metals were about equal in value to the 1899 total, but, with the exception of Iron Plates, Tin, and Tinplates, quantities did not compare favourably. This trade seems to make no progress.'

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Among Sundries, Brass Buttons, Candles, Flour, Needles, Silk Piece Goods, Soap and Umbrellas all exceeded the quantities imported in 1899. American Kerosene Oil fell from 40,724,989 to 34,447,112 gallons; Russian, from 35,695,116 to 32,708,757 gallons; while Sumatra Oil rose from 11,993,202 to 16,424,155 gallons. There was again an increase in the import of Coal, which amounted to 864,158 tons. The value of Sundries was rather in excess of that of 1898.”

"Exports.-The value of the Exports was estimated at Hk. Tls. 158,996,752, a falling off of Hk. Tls. 36,788,080 as compared with the figures for 1899, but only Hk. Tls. 40,397 below those of 1898. This result may, under the circumstances, be regarded as remarkably satisfactory and unexpected. Raw Cotton, in consequence is the short crop in America, was exported to the extent of 711,882 piculs, but this is not likely to be a permanent feature of the Export trade.

Export trade. Hemp, Hides, Horns, Nutgalls, Oils, Straw Braid, and Tallow were all exported in greater quantities. Sesamum Seed made a large advance, while Rush Hats more than doubled. There was, of course, a heavy falling off in the Exports from Newchwang and Tientsin, and Beans and Beancake, with Wool, show decreases; but, with the exception of these two ports, the trade was not much affected by the political situation.”

"The export of Black Tea was 863,374 piculs, which was 72,204 piculs less than in 1899, but 16,241 piculs more than in 1898. In Hankow the demand was brisk at the opening of the season, buyers for the Russian market paying good prices for the higher grades, and the purchases for America and Canada being largely in excess of those of 1899. Quality, with the exception of Ningchows, was good. There were no direct shipments to London from Hankow during the year. The Foochow Teas did not do well, as the markets in Europe were overstocked and the lowest prices on record were realised. In the United States it was believed that the Boxer troubles would interfere with the export, and the closing of the Tientsin route to Russian buyers threw a large quantity of common Teas on the market at low prices. Speculators therefore bought largely for America, where the markets have been overstocked. Green Tea lost 13,373 piculs as compared with the total of 1899, but gained 15,119 piculs on that of 1898. The year was a bad one for Brick and Tablet Tea. The first consignment sent by the overland route to Kalgan was almost all lost, and exporters then shipped to Nicolaievsk vin Vladivostock. Unfortunately, the steamers on the Amoor were so occupied with Government transport that the greater quantity remains stored at Vladivostock. In consequence of the change of route, the Brick and Tablet Tea sent to Russian Manchuria amounted to 256,019 piculs, as against 78,231 piculs during the previous year, but only 72,656 piculs of all kinds of Tea were sent via Kiakhta, as against 537,771 piculs in 1899. No Brick Tea was sent to England, as the Yenesei route has been found disappointing. Great Britain took 135,139 piculs of all kinds of Tea, or 100,882 piculs less than in 1899. The United States took 255,156 piculs, as against 218,535 piculs, and 10,524 piculs went to South Africa. The shipments via Odessa rose from 195,449 to 269,230 piculs.'

"The year was a disastrous one for the Silk trade. Anticipations of the consump- tion which would result from the Paris Exhibition were not fully realise, and over- production in Europe and America caused a weak demand and low prices. This was the more disappointing because the crop was a good one. The weather was favourable to the worins, the supply of mulberry leaves was plentiful and cheap, and the quality of the Cocoons produced was satisfactory; but the price paid for Cocoons was so high that the steam filatures have lost heavily owing to this fact and to the entire lack of demand from the United States. All heavy Silks, such as Tsatlees, which were fuller than usual, were neglected, and only the finer sorts have met with any favour. The competition of Japan was severely felt. Owing to the unwillingness of the banks to support the growers, large quantities were thrown upon the Yokohama market, and for months the stock there amounted to 20,000 bales, which frightened Continental buyers. It is estimated that at least one-third of the production of the Chinese steam

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