Directory_and_Chronicle_1940 — Page 722

A342

HANKOW

of transport facilities. Spring harvests were reported abundant as a result of favourable weather conditions at the opening of the year. The winter wheat crop was also reported good. On account of the continued enforcement of the embargo on export, the bulk of this commodity is reported to have been sold to local mills at low prices. Due to heavy rainfall during the summer months on the upper reaches of the Han River, the early rice crop was generally better than that of the following autumn; exports diminished considerably as was to be expected. With the Canton-Hankow Railway as the only practicable means of transportation from Hankow, export trade was generally restricted. Nevertheless it is estimated that a total of from 50,000 to 60,000 tons of cargo, with an approximate value of $40 million, was trans- ported south during the year. Rail-borne cargoes are not recorded in the Customs statistics; the approximate figures given below represent, however, the general features of those staple exports declared for abroad via the Canton -Hankow Railway, exports which in normal times would have found their exit down river by steamer. Shipments of wood oil were satisfactory and are estimated to have amounted to about 350,000 quintals; supplies were adequate to meet demand and prices ruled fairly steady. It is stated that about 100,000 to 120,000 quintals remained in stock locally at the end of the year. As no facilities existed on the railway for transportation of frozen egg products, the market was left entirely to producers of dried and preserved varieties. A fairly good year was reported at satisfactory prices, shipments being estimated at about 49,000 quintals. Owing to their bulky nature and difficulties in transportation, trade in cow and buffalo hides was very slack; prices dropped steadily up to the middle of the year, after which no shipments were forwarded. Very little interest was shown in nutgalls, sesamum seed and beans. Trade in Hankow tea also diminished as a result of general dislocation resulting from hostilities. It is reported that lack of shipping facilities resulted in a 50 per cent decrease under pig intestines. Arrivals of raw cargo were restricted from many districts through disruption of com- munications, while prices were not satisfactory. Difficulties were also encountered in the bristle trade, and prices gradually declined throughout the season; buyers. abroad demanded that sales must be guaranteed "on board" ocean steamer. It is estimated that about 7,000 quintals of bristles were shipped by railway to the South during the year. In spite of consider- able risks, trade in ramie was generally satisfactory; demand was good, and relatively steady price levels were maintained both here and abroad. It is estimated that about 60,000 quintals of ramie was shipped out of the port, leaving some 20,000 quintals awaiting transportation. Though demand was slow, exports of goat skins were well maintained and are reported to have amounted to about 1,600,000 skins, consisting of Hankows and Szechwans. The cotton trade was badly dislocated by war conditions; export to Shanghai and Japan came to almost a complete standstill, but there was a good native demand which resulted in considerable shipments to up-river districts. As the Canton-Hankow Railway afforded the only means of exit, all supplies of antimony were shipped direct from Changsha to Hongkong.

The total tonnage entering and clearing under General Regulations amounted to 1.5 million tons, showing a large decrease of about 5 million tons over the previous year. No ocean vessels reached Hankow during 1938. Channels throughout the district remained normal. The Hankow Crossing showed the least recorded depth in the Hankow district on the 7th, March, when 3.962 metres of water was obtainable. As a result of military require- ments, considerable progress was made in the general improvement and upkeep of all main roads. Extension to telephone services was also carried out. The Eurasia Aviation Corporation and the China National Aviation Corporation maintained air connexions between Wu-Han and Hongkong, Sian, Changsha, Ichang, Chungking, Chengtu and Kunming. Rigorous control of exchange was exercised by the Government throughout the period under review. Remittances to Shanghai and abroad became much restricted. Considerable fluctuation took place during the year in the open market exchange rate of the Hankow dollar.