Directory_and_Chronicle_1938 — Page 845

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CANTON

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fall below Hong Kong $375 and rose to Hong Kong $625, the highest quotation eince 1933. There were increased demands. from Indo-China, India, and Lyons, the chief consuming centres. The revival in the silk trade found less than one-quarter of the filatures in Kwangtung open, but those still in operation worked at full capacity. Although handicapped by lack of funds, they experi A mentation on the part of the Government and Lingnam University during the past years in connection with the improvement of silk cocoon production has resulted in the collation of a vast amount of information which can be utilised in the future. There was a continued lack of demand from, the United States of America, which country had in the past consumed as much as half the Kwangtung silk supply, but had been forced in recent years to concentrate on the silk product of Japan and the Shanghai mills on account of the un- reliability of supplies from Canton. The armament programmes of European nations stimulated a demand for wolfram ore, and it seemed at the end of the year that there might be a return to the state of affairs in 1918, when wolfram was one of Canton's principal exports. The full extent of the trade cannot be read from the figures, as there was a large stock of wolfram in Hong Kong at the beginning of the year awaiting liquidation. The price per picul in July was Hong Kong $75 (278. per unit) and rose in late November to Hong Kong $88 to $92 (30s. 6d. to 32s. per unit), Six provincial sugar centrals were working during the course of the year. Incentives to the farmers growing the cane have been offered in the form of higher prices for their product and more favourable terms for loans. Acreage under sugar cultivation more than doubled, but unfavourable weather conditions, especially a typhoon in August which destroyed a considerable portion of the standing cane, reduced the yield per mow to figures lower than anticipated. Two old-established industries, the manufacture of straw mats and kittysols, on which a large number ofA people both in Canton and in the interior are dependent for employment, were able to make considerable advances during the year. This was only because of favourable exchange, but also because or modernisation of the products in accordance with the tastes of consumers overseas, both Chinese and foreign. Another feature of the year was the increased output of rubber manufactures. by local rubber factories in spite of the high price of rubber caused by world restriction of the product. A permanent achievement was the completion in 1936 of the Canton-Hankow Railway, which promises to be of increasing benefit to the commercial progress of the port. Through traffic on the line was inaugurated on the 1st September. The service that could be rendered, by this railway was demonstrated by the necessity that arose for the quick trans- portation of surplus rice from Changsha and other Hunan centres to Canton in order to supplement the shortage in Kwangtung. Shipping interests are already showing concern as to the possible effects the railway will have on the volume of freight in Yangtsze produce carried by them. As the Canton- Hankow Railway neared completion, interest was revived in the project for the development of the port of Whampoa, which had been under consideration for many years. Present plans included a sufficient depending of the river channel to allow vessels of 7,000 or 8,000 tons to enter the port. As the year drew to a closa, a second three-year plan, including agriculture, industry, etc., had been formulated and was under consideration. The first three-year plan had

been carried out under conditions unfavourable to its full development. There are indications, however, that the second project has strong financial support from investors both ir China and Overseas because of a feeling of confidence in the future development of the province.

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