Directory_and_Chronicle_1939 — Page 727

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HANKOW

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by the end of 1936, they were nevertheless above normal until August, after which quotations were more or less nominal. Exportations abroad of this commodity fell off, but, including the considerable shipments recorded under interport movement, the value was $40.3 million as compared with $36.2 mil- lion in 1936. The bulk shipments went to America, while demand from Europe continued to be good. Egg products also enjoyed

enjoyed a fairly good year: prices advanced from the beginning of the season, dropped in June and July, but rose to higher levels in

to higher levels in the autumn. Although exports of bristles showed a decrease in quantity, a substantial increase in value was recorded, prices abroad remaining firm. Tea of all kinds shipped directly abroad showed a slight increase in quantity and coastwise shipments recorded a decrease, despite the fact that growing conditions were generally favourable. A considerable decline was recorded in the export of sesamum seed: demand from abroad was slack and communications were disrupted during the last quarter of the year, which is usually an active exporting season. Although the value of undressed goat skins exported directly abroad and coastwise in creased, a considerable decrease was recorded in the number of pieces shipped coastwise. Prices at the opening of the season advanced, with another sharp rise in mid-season, which was maintained throughout the remainder of the year. In spite of the trade in buffalo and cow hides being fairly active, decreases were recorded in shipments made both directly abroad and coast. wise values fluctuated widely during the year. Shipments, both directly abroad and coastwise, of ramie, aimounted in value to $4.7 million compared with $8.2 million for 1936: exports were held up during the autumn by the blocking of the river. Partly on account of the embargo placed on shipments. abroad during the latter half of the year, broad beans declined. Shipments of raw cotton were valued at $36 million against $37 million in 1936, and although conditions during the growing season were reported favourable. rainfall was excessive during the late summer and autumn: prices were kept at a fair level. Trade in pigs' intestines was generally satisfactory, but a decline is recorded in shipments both directly abroad and coastwise; prices remained fairly level during the first half of the year and declined from August. Decreases were recorded in the export of iron and zinc ore, wolfram ore (tungsten), and autimony.

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The total tonnage entering and clearing under General Regulations amounted to 6.5 million tons, showing a decrease over the previous year of about 1,570,000 tons. Channels. throughout the district remained normal ex- cept in January, when the Collinson Island Cement Channel suddenly shoaled up and limited the draught of vessels to 8.9 feet: this was later reduced to 8.8 feet, which constituted the lowest obtained between Hankow and Shanghai during the year. The Peiping-Hankow and Canton-Hankow Railways enjoyed prosperity during the first seven months of the year, but receipts from both passenger and freight traffic declined considerably from August as a result of military requirements consequent upon the Sino-Japanese hostilities. A loop line joining the latter railway with the Canton-Kowloon Railway was completed in November. Considerable progress was made on road construc tion and in extensions to the telephone service throughout the province during the year. Although direct air connexion with Shanghai ceased from August, the China National Aviation Corporation continued their air services in the Middle and Lower Yangtze regious. The Eurasia Aviation Corporiation also extended their routes and re-inaugurated the direct line between Hankow and Hongkong. As a result of abundant harvests in 1936 and stabilised currency.. financial conditions continued to improve locally until the outbreak of Sino Japanese hostilities in August, after which there was a general curtailment of credits and more rigid Government control of finance.