Directory_and_Chronicle_1937 — Page 740

A360

i

:

HANKOW

ነ

ין

as against 32.2 million for 1934; coastwise importations of Chinese merchan- dise, 82 million dollars as against $6.1 million; direct exports to foreign countries, 12.6 million dollars as against 9.8 million; and coastwise exports of Chinese produce, 138.5 million dollars as compared with 141.1 million. While these figures tend to show an improvement in trade with foreign coun tries, both direct imports and direct exports showing increases, they are not wholly indicative of the trade of the port, as they include only steamer-borne import cargo paying duty at Hankow (excluding that share of the trade which is imported duty-paid at other ports, but including cargo paying duty at Hankow while destined for, and eventually forwarded to, up-river ports) and such outward steamer-borne cargo as is carried directly abroad from: Hankow, since cargo moved by river steamer, even when declared for tran- shipment abroad and paying duty at Hankow, is recorded in the 'interport figures. On the whole, the demand for imports was smaller than during the previous year, buying power in the interior-already at a low point owing to adverse conditions in 1934-being still further reduced by floods and drought. The statistics for this section would not have appeared so satisfactory had it not been for the importation of sleepers and railway materials for the Hankow-Canton Railway and for heavier importations of kerosene oil and sugar. Advance of some 20 million litres in kerosene oil is attributed to heavy sales in the last two months of 1934, necessitating replacement of stocks; to shipments to Hunan through Hannow usually forwarded via Yochow; to shipments, by rail to northern districts customarily supplied from Tientsin and to heavy withdrawals from bond at the close of the year. There is a recorded increase of 34,600 quintals in the import of sugar from abroad, heavy shipments of Hankow duty-paid sugar being forwarded to other dis- tricts by Japanese firms. Fishery and sea products improved. Metals declined in value by $1,736,000 in comparison with the figures for 1934: the figure is still in excess of normal port requirements, since the 1934 importa tion of metals, on account of railway construction, far exceeded that of previous years. Business in exports was brisk at the beginning of the year, but became dull when the high exchange of the dollar began to be felt, only to rally when, in consequence of the monetary reform introduced by the Government, exchange turned in favour of European and American buyers, the year closing with a substantial increase. There was strong demand from America for sesamum seed, the recorded rise in value being from 2.5 million dollars in 1934 to 6.1 million dollars in 1935. The crop of broad beans was disappointing, exports declining to approximately one-quarter of those for. 1934. Nutgalls improved, the direct exports to foreign countries being more than double those of the previous year. The supply of pigs' bristles was small, prices reaching a high figure. It is of interest to note that a new departure is being experimented with and that sample shipments of bleached bristles have been made to Japan and America. Total shipments of ramie were about the same as for 1934, but, owing to poorer quality. a drop of approximately 1 million dollars in value was recorded. An advance of half a million. dollars in the value of eggs directly exported abroad was counterbalanced by a decline of some $700,000 in interport movements. The demand for wood oil, both in Europe and America, was exceptional. American stocks fell to a low level at a time when those in China were all but exhausted, and prices rose steadily until-during September and October-the record price of $128.70 per quintal

.

prices raas reached. With the arrival of the new crop. late in October,

prices rapidly declined to about $82.50. The figures for the first six months of the year showed a decrease in exports of raw cotton amounting to 114,000 quintals as compared with the corresponding period of 1934, but it is estimated that the amount of business done on the 1934/1935 crop, with, which this period is concerned, was very little less than that on the yield of the former year's crop and that the apparent decrease is due to sales and ship- ments having been effected earlier than usual. Very large quantities of tea having been shipped in 1934, demand was reduced and exports declined.

卓

!-