CHUNGKING
807
Throughout the year Chungking and the province of Szechwan remained peaceful. Political unrest, nevertheless, carried with it the usual distressing effects upon trade, and the civil war and Communist troubles resulted in the closing of many markets to the products of Szechwan. During the June quar- ter the bankruptcy of several large cotton yarn firms, which formerly enjoyed a sound financial reputation, entailed a loss to the mercantile community of over 2 million dollars in the form of bad debts, while the credit of Szechwan merchants in Shanghai and Hankow was seriously affected. Another event which had direct bearing upon the trade of the port was the great conflagra- tion which occurred in the middle of the September quarter. This calamity is estimated to have cost merchants and residents many millions of dollars, medicines stored in the godowns for export alone being valued at a million dollars. The net value of the trade of the port showed however an increase of more than 10 per cent. over the figures of the previous year, which were then considered the highest on record. It must be remembered, however, that these values are inflated and mainly due to the high silver cost of foreign goods. As the result of the fire already mentioned there was a large demand for nails and electrical materials and fittings for reconstruction purposes, while the big increase noted under iron pipes and tubes must be attributed largely to the activities of the Waterworks Company, whose pipe system should be completed and ready for use at an carly date. Heavy
date. Heavy taxation has had the effect of encouraging the native hand-loom industry, which can pro- duce cloth for the thrifty farmer at a far cheaper price than that at which a similar foreign article can be purchased, and this is reflected in the decreased imports of foreign piece goods and a corresponding increase in arrivals of cotton yarn. Bristles was one of the few headings which benefited by the warfare in Central China, which curtailed the export of this commodity from the northern provinces and afforded an opportunity to Szechwan to take advantage of a firm demand from Great Britain. Endeavours are being made to organise a company for the exploitation of a petroleum spring which has been discovered between Kikiang and Pahsien and is said to cover a considerable area. The pilots' strike, which was declared early in February and lasted until the beginning of May, contributed in no small degree to the decrease in the number of vessels entered and cleared. An effort has been made by the Szechwan Navigation Bureau to amalgamate all Chinese shipping firms so that rate-cutting among vessels under the Chinese flag can be advantage- ously eliminated and enable them to present a united front against competition from foreign shipping companies. For the first time in the annals of this province a short railway some 10 miles long, named the Pei Ch'uan Railway, was completed for the transportation of coal from the mines nearby. The opening ceremony was held on the 3rd January, when a trial run was success- fully made.
In 1930 the net value of trade was Hk. Tls. 86,552,542, as compared with Hk. Tls. 78,256,468 in 1929, Hk. Tls. 72,236,585 in 1928, Hk. Tls. 66,029,929 in 1927, and Hk. Tls. 73,757,098 in 1926.
DIRECTORY
司公險保亞美 Mei-yah pao sien kung szu
AMERICAN-ASIATIC UNDERWRITERS, FED. INC., U.S.A.-Ho Kee Bank Build- ing, Mo Fang Sze Chang; Cable Ad: Underiters. General Insur- ance-Fire, Marine, Motor-car, Life, Accident and Health, Burg-
lary. Plate-glass,
Special Risks
Baggage
and
C. V. Starr, president (Shanghai) D. Von Dreyer, manager Agents for:-
Globe and Rutgers Fire Ins. Co. and 22 other American, British and Continental Insurance Com- panies
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