1903-07-11 — Page 14

Fourrccal THE HONGKONG TELEGRAPH, SATURDAY, JULY 11, 1903.

COMMERCIAL

SHARE MARKET.

In their shara report of 3rd inst, date Messrs. Erich Georg & Co write?-

Although the June settlement passed off smoothly, the long looked for improvement in our market has not yet taken place; on the

contrary, share business is almost paralyse

am sellers rule the market for most stocks. The rates on Shanghai are Fls. 714 for a T/T. and Tls. 71 for a three days' sight Private Påper,

་

CILARRONNAGES.

At a meeting of the Société Française des Charbonnages du Tunkin held in Paris on oth May, the report and accounts for 1902 were passed. The total production of coal during the year mounted to 316,618 tons (against 248,612 tons in 1931) whilst sales amounted to 262,232 tons (against 255,479 in 1931. The production of briquettes increased to 77.721 tons from 60,824 tona in 1901, whilst the sales decreased to $7,181 tons from 64,408 tons in 1901, hut it is expected that this de- crease is only of a temporary character. Thr profit and loss account shows (including a balance of Frcs. 85.175-75 carried forward from last year) a credit balance of Fres 1,045,706.67 (against Fres. 1.578,939-43. in- clusive of Frca. 81.303.25 in 1900), from which a dividend of Fres. 60 per share has been paid (same as last year) absorbing Frca. 960,000, leaving a balance of Fres. 85,706,47 to be carried to new account. Of this dividend Frcs. 30 were paid already in March of this year. During the year Fres. 500,000 of the

Chinese Engineerings have been sold at Tis: 6.60 in Shanghai.'

Docks, Wharves, and Godowns,Hongkong and Whampoa Docks remain firm with sales in value but close in demand at Tls. 172 cùm at St. Earnhans have suffered a further fall dividend. Kowloon Wharfs have been disposed of at $87. Hongkew Wharfs are in the market at Tls, 283).

SOGAR

Mr. Consul Fraser writes with reference to this commodity in his report on the trade of Hankow for last year as follows:-

And the total sterling value of trade during these years was:~~

Year.

1391 1902. *** -1903...

Value>

·17,216,094 9,126,809 10,090,993

caused by the competition of Continental beet The low prices of Hongkong fined sugars, sugars with them, fed to an increased demand, and perhaps it was for this reason that native volume of the trade as represented by the On the other hand, the fact remains that the Lands have reacted to $160, at which rate not so much sought for. Hupei province isntities involved, especially as regards ex-

Lands, Hotels and Buildings-Hongkong crude sugars from Swatow and Canton were booked at Tls. 1o. Hongkong Hotels have shares are wanted. Shanghai Lands have been authorized to levy a special to per cent tax on development; so that, however interesting the parts to foreign.countries, shows no extensive eased off and can probably be obtained at therein consumed; but the tax office tries to currency comparison, they do not in reality sugar, as well as on native spirite and tobacco sterling return may be from the standpoint of $152. Further sales are reported in Shanghai collect the impost on all sugar passing through faithfully represent the growth of the trade, of change in Humphreys' Estate or China Proin the way of taking out transit passes, Han foreign export. A cheap doliar increases the of Astor House Hotels at $31. There is no Hankow, and, as there seem to be difficulties which, in Canton the largest portion is in- kow found itself unable to compete with Chin purchasing powers of sterling and encourages adjoining province of Hogan, and the year kiang in the supply of the large market in the closed with a large stock in godown. It is hoped that a warning that provincial tax, and

damaging levy. that, if pressed. dealer will resort to passes, may lead to a substantial reduction of the

vidents.

demand at $143, but there are no shares to be Cotton Mills-Hongkong Cottons are in had except at an advance.

"

changed hands at Tls. 5p..

Cigar Companies-Sumatras have again

steady at $24. A. S. Watsons have found Miscellaneous.-Green Island Cements are investors at $144. Electrics have been done at Sr24 and $74 for the old and new shares ex the dividend of 90 and 45 cents respectively, payable to-morrow. Geo. Fenwicks have been sold at $47. Ices are in request at $245 Langkats have receded to Tis. 300 at which rate shares are inquired for.

FORTNIGHTLY MARKET

REPORT.

i

RAUBS.

exports..

THE TRADE OF HAN

FOR THE YEAR 190

that the gross value of the trade has increased It will be noticed, as compared with 199, by 11,500,000 taels, the net by more than total trade coming under the cognisance of the by about 6:0,000 and 500,000, respectively. The actual increase in 1902 over 19or of the 3,500,000 thels; yet the sterling values are less Imperial Maritime Customs is 19,882,533 tacis,wenty years ago the net gold value, of the and may be accounted for by (1) the general tendency to expansion shown during 1901 ;(2)

trade was 9.575,281, the gross 11.223,549% The improvement is therefore in the traffic by the largely increased value of the sitk with the west which passes through Hankow. export, which has been in the past greatly under-estimated; and (3) by the additions may be set a balance of 4,859,180 taels in the Against the net excess of exports over imports

direction of the Imperial Maritime Customs. the transfer of the native customs to the 10 the steamer-bome cargo, the result of reported movement of treasure. This leaves an apparent balance of 3,782,333 taels in favour of Hankow; but this may be accounted for by As regard (2) the corrections made resulted in trade through the native customs, of which no an increase of the value of this export of some

record is obtainable.

There are no very striking changes, this year in the quantities imported of articles of foreign provenance, and but few new items in the long list in the customs table of totals, respectable only when reckoned in taels. The whole In his report on the trade of Hankow for the amount is trifling as representing, the demand

1902 would seem to have had its natural effect

The sharp fall in the price of silver during of the figures for the last 20 years reveals past year Mr. Consul Fraser writes

of at least 25,000,000 of people, and a review. no expanding consumption except in yarn, from Hankow white contracting in a slightly to assert that the nativo dealers having leamed in stimulating the export of native produce kerosene oil and perhaps sugar. It is usual

this port remained almost stationary in terms of Cannot with any chance of profit promote the less degree the importation of foreign goods. to supply their wants at the great centres, silver; but of course, shows a heavy falling-off consumption of established imports, or induce The trade of Western China passing through Shanghai and Hongkong, the foreign merchant

when reduced to sterling,

a demand for new ones. That the Japanese do press their products locally may be ascribed to their closer kinship with the Chinese, and the more intimate knowledge which they can firm has proved that perseverance, energy and acquire of native ways and wants. Yet one enterprise can establish a direct trade with local dealers, who after all, naturally prefer to Save the Shanghai native agents' commission, provided a sufficient assortment of the wares Chinese-speaking Englishman, who throughout they deal in is provided locally, I knew also a the southern provinces, had, by means of native agencies; which he visited periodically, built up a very considerable business for the firms which he represented. Possibly now that competition has made merchants keen not to miss any chance, it might be worth while not to accept without experiment the prevalent Consuls do not suffer from any la kofexhort- ation to assist their nationals actively, especial- ly by pressing their advice and aid upon mer- chants. Merchants on the other hand are with still less to accept guidance from amateurs whosareports are published concerning business in which they have presumably acquired, by experience, special knowledge not to be divul ged to their rivals. In this difficult position. the most discreet course seems to be willing

from resident merchants, who are often glad to who appeal for Consular assistance, Apart support to the extent of one's ability of these

have the Consul's opinion as to the effect of treaty provisions; and the possibility of Induc ing local authorities to adopt the interpreta chants in other parts of the world frequently seek to learn what openings exist for their special wares. In the absence of trade museums and Chinese Chambers of Commerce, such letters can only be handed to the local firms when the inquiry relates to articles more suited

Besides the regular river steamboats, three

Catton.A very good demand for this Companies and Syndicates operating under steamer-imported foreign goods, irrespective of Japan and a'sailing vessel from New Zealand tanks of the Shell Company and the German debentures have been paid off, leaving Fres. commodity had the effect of strengthening agreement on the Company's concession The the nationality of the importer, may, on pay brought railway sleepers, one steamer loaded usually, and very naturally, loth to consult

firm of Meyer and Co, two steamers from

4,450,000 outstanding. It appears from the report, that prospecting work carried on at Mamdons C. and 18" has disclosed the existence of a large body of bituminous coal, which to a great extent can be worked by open cuttings.

Docks, Wharves and Godowns-Whampoa Docks hardened towards the settlement, and after sales at $214 and $215, buyers will probably pay $216. Shanghai Farnhams have declared a Anal dividend of Tls. 8, making Tis. 15 for the year ending 30th April, 1903. As far as is roughly known here, the net earnings amount to Tls. 974,000, out of which Tha. 100,000 have been carried to reserve fund andTls. 46,000 to Dew account. The stock is weak in Shanghai with sellers at Tls. 175.

WEEKLY SHARE REPORTS.

In their report dated 3rd inst., Messrs. Bea- jamin, Kelly and Potts state

During the past week business has been confined within narrow limits and we have but little to report.

Banks, Hongkong and Shanghai Banks remain fairly firm and are still in request at $680. The London quotation is 63 38. Nationals are steady at $27.

Marine Insurances.-All stocks under this bending are quiet at quotations.

Fire Insurances-Hongkong Fires are to be had at $30 China Fires have again changed hands at $35.

Shipping-ongkong, Canton and Macio Steamboats continue in demand at $28. Indo. Chinas have receded to Stes and are offering. China and Manilas have been sold and more shares are obtainable at $25. Fouglas Steam. ships are wanted at $10. Star Ferries, both old and new, have further risen and are in demand at $27 and S7 respectively, Shell Transports have been, and can still be, placed at £12/6.

Refineries.China Sugars depreciated to $104. There are buyers of Luzons at Stan - Mining-No sales are reported in stocks in this section. Punioms:--The Secretary in- forms us that the result of the crushing for June is as inllows:-- Are tons Kalampong ore yielding yr aus, umelted göld,

"

Swah

"

ነ

15 m

дув ле is all for a yield of 6.

וי

at 84,000-

market, and prices show some improvement respective bet amounts are: £42,417 95 ad Sales are reported of about 750 packages from and £875, 55. 118. The balance for the year 524 to 26 per picul. Unsold stock is about, therefore, one of £7,236 195. 5d.

ON LONDON, Telegraphic Transfer

1,500 bales.

Yarn. A good demand with advancing prices is the principle feature of the past fort night. Bombay market is must firmer and prices there are still much in excess of those. ruling here. A good business, say of about 11,500 bales, at an advance of $1 to $3, is to be recorded. The unsold stock is estimated at about 18,000 bales. Local mill's yarns about I,JCD bates of Nos. tos and 12s were sold at $104 and Stoop respectively. Japanese Yarn ruled firm, and sales of about 1,000 bales Nos. 16s at $126 and No. 20s at $133 are reported in the market.

Malwa Opium-Ruled very firm and prices have advanced $zo per picul. Sales of new about zo chests at $950 to $980; old about 40.; chests at $1,000 to $1,070; and oldest about so chests at $1,120 to Si,130, are reported. The unsold stock is estimated at about 843 chesta.

Bengal Opium.-Prices have further ad- Yauced and sales of Patna New about 1,000 chests at $1,035 to $1,085, Old about 233 chests at $1,030 to $1,080, Benares new about 186 chests at $1,040 to $1,075, old about 50 chests at $1,030 to $1,080 are reported. The unsold stock is estimated at about 1,725 chests,

Persian OpiumCheap prices induced business and sales of about 127 chests at $700 to $785 are reported. The stock is about 3,100 che: ts.

Miscellaneous Quotations --

Ivory

.. $:50 to $675 Senna

"amphor Vitriol

Cassia

Saltpetre...

Claves

Borax

Vermilion...

2

... 15.

4 130

20...

15

zz

蒙

YARN MARKET REPORT.

Messrs. Cawasjee, Pallanjee & Co., in their fortnightly report of 3rd inst., state-Since the issue of our last circular dated the 19th ultimo, reports of a strong and daily advancing valued market in Bombay, owing to high price of

cotton, have had the effect of greatly strengthen ing holders, who have practically withdrawn stocks from the market and are still asking for an advance in prices for a few bales of the best spinnings remaining in stock.

Dealers are responding freely to the enhanced cost and an improvement of from fifty cents to two dollars per bale has been established. Owing to firm- ness of holders and the subsequent scarcity of suitable threads of No. aos, prices of such qualities have advanced from $1 to saj per bale for spot cargo only, other threads of this count moving at our printed quotations.-A advance of one dollar per bale on last mail's prices.--No. 12s are in good demand and prices show an improvement of from one to two dollars per bale.-No. 1or move freely at quotations, and in many chops prices show an

per

1

13

18

Bank Bills, on demand...18 5:6 Credits, 4 months' sight D'meats 4 months' sight..... 8 ON BERLIN, (demand). ON PARIS, Bank Bills, on demand........ 212)

N.1.72 Credits, 4 months' sight...2.16 ON NEW YORK, Bank Bills, on demand...4

Credits, 30 days sight 404 ON: BOMBAY, Telegraphic Transfer......126

On demand... 126) ON SHANGHAI, Telegraphic Transfer ...73 Private 30 days' sight.ncin ON YOKOHAMA, T.T.

82 Sovereigns, Bank's Puying Rate

$41.96 Gold Leaf roo touch, per tae!...

62.10 Bar Silver

OPIUM QUOTATIONS. MALWA NEW ...............

......@

part cargo of tea for London and five carried rice to Swatow,

The figures of German river shipping fell off lightly, as Melchers and Cola Ichang steamer made fewer trips, while Norweginn vessels reduced their trade beyond the China coast.

Japanese tonnage showed a very large in shih-kang iron ore to the full development of vessels in the exchange of Moji coal for Huang, crease, due to the employment of their own

their Yangtse lines.

a foreign merchant, the half duty certificate is japanese coal, and especially by the recovery tion thereof most favourable to trade, mer

ap-

The Russian figures were swelled by their steamers taking a share in the importation of of the brick tea trade to Russian Manchuria and Siberia.

for the year ending 31st March, 1903, has The report of the Rasb Gold Mining Co. been issued. The profit and loss account shows that, with the debit balance of £958 199. 1od. brought forward from the previous year, an expenditure of £50,729.145.48, was 9,000,000 tael; is regards (3), cassia, matting British steamers brought from Sumatra and incurred in 1902-1903 against £43.492.149.11. ail, fish and some yam are now being largely Hongkong five cargoes of kerosene oil for the opinion quoted above." -the proceeds of gold won by the Company shipped by steamer in preference to junk. and the proportion derived from Subsidiary

It is povided by the Tientsin treaty that

ment of a half duty, be sent into the interior under a ball duty certificate and be exempt from all further taxation en route. A similar exemption by means of the transit pass is accorded to native produce, the bona fide property of a British subjec, intended for steamer export and so declared at a treaty port. it was hoped that by this arrangement delay and exorbitant charges suffered by foreign goods would be spared the vexatious merchandise which pays likin to the provincial likin authorities for transit in the interior. So long as foreign goods are actually imported by so far abserved that it frees them from likin and all other charges en route. Arrived at their destination, however, and in the hands of the Chinese cansumers, the local authorities put whatever duties on them they choose. Further, notwithstanding that the treaty secures 7/16 to native merchants the right to import and send interier foreign goods under half a duty certificates, and so effective is their opposition to them when in the hands of native dealers who have no foreign Consul to whom peal for support, that Chinese merchants in Canton have abandoned the idea of endeavour- ing to derive any benefit from them and no longer attempt to make use of them, it is evident, therefore, that, although the provincial authorities observe the conditions of the half duty certificate in foreign hands so long as the goods are in transitu, the impositions which they are in a pušition, to put upon the goods when arrived at their destination, and the op- position which they offer to their use by native merchants, do not allow of foreign goods ob- The Shanghai mandarins have received newstaining that free and unhindered passage in from Kwar si te the effect that a lare body. the interior, which it was intended they should. of insurgents attacked the district mastracy enjoy, from the fixed taxation accorded them of Mapin. hsie, Liuchpufy, Kwangsi rovince under the half duty cenificate. The reason for on the 14th of June ad remain-d the two

the opposition of the provincial authorities to days burning and plundering the courty-side, these certificates and transit passes is obvious; and finally took with em as prisoner fran

the halt duty payable under them is collected som the Police Magistrate of Saptu, fawn by the Imperial Maritime Customs and goes belonging to Mapinghsien.-N. C. D. Fees,

to the Imperial Government. A New York wit dated 1st inst. skid replaces likin, &c. are provincial ones, and The taxes it dispatch has been received here stating tit the the provincial authorities accordingly endeavour Chinese government is beginning ayar of

to the best of their ability to oppose the extermination against the Chinese rebels The Imperial substitute for a provincial revenue. allegations of the Powers that their citizens in It would seem only logical that, ifthe provincial Kwangsi were unsafe under the present hndi- authorities are to accord to foreign goods the tions have stirred the Peking governmet to facilities given then under the transit pass and action. No quarter will be given nowind a

the half duty certificate, they would receive the large force will be put into the field to wie out half duty payable thereunder as compensation the Boxers and rebels.

for the impoverishment of the provincial revenue by the loss of likin, Indeed, so fax as the Canton Province is concerned, the Viceroy has aasared me, if this revenue was handed over to the provincial authorities, foreign goods in taxation, not only in transits but also at the interior would be freed from all further

LAST YEAR ÜLDEST

PATNA NEW

OLD .....

OLD .......... PERSIAN (PAPER)

BENARES NEW

**

Peli-hest No fales 1,0501,080 10941,140 @ 1,08 ..@ 1,09:

fal 1,08 1,09 730fro

THE DISTURBANCES I

KWANGSI.

It was reported in Peking a short tim go that the French Minister had received tele- gram from the French Consulat Lunchn to the effect that the insurrection was sprading in Kwangsi province, and that the Goverment troops had suffered repeated reverses. I con- sequence of the unsettled state of the country the Consul further stated that he had cobstered it advisable to temporarily leave Lungcha for the Tongking border and waits until muters H. E. Tien Chun 1, Viceroy of Two Kwang, has contracted with some ative bankers, a loan of Tis 300 650 which isntnded for the payment of the wages due to be foops in Kwangai, the wages being very muh in chief of the territorial force of Chili asteen bis rank.

destination.

The import trade from Shanghai is reported and Chinese combination, which, however, re- to have proved unsatisfactory to the Britis tains its hold on it. The Japanese, take the fullest advantage of the proximity of their country to feed their Yangtse steamers with through shipments, and, fostered by a subsidy which enables them to reduce their freights, their competition is likely to be felt more and more by the older lines which, so long as their business continues profitable, seem reluctant lo Add to their tonnage or enter on a war of mies. orly in the last quarter of the year that an The export business was brisk, although it was abnormal demand for space for rice and other grains, needed to relieve scarcity in the so th, rendered possible an advance in rates. The fall of the river stopped the use of coasters for this traffic and tried the godown accommoda- tios of the port.

Chinese use than gramophones, cream separators and grand pianos. Price lists and trade journals, even were they written in fault- less Chinese, could not profitably be distri buted, and Chinese dealers would not visit a Consulate reading room. But at all the larger ports native newspapers are to be found, and supply a cheap and fairly effectual means of advertisement, provided that the possible cus- tomer finds therein the address of some agent close to his place of business. Such advertise ment might be inserted through the aid of the International Chamber of Commerce at the larger poris; but this work would more naturs Ally form part of the duty of the Chinese speaking commercial travellers, who, now that The Ichang trade can never have been very China is belter kuown and attracts mor broken a dozen years ago: So soon as the expert the inevitable and most suitable means profitable since the monopoly of the China general attention, appear to me, speaking with Merchants Steam Navigation Company, was

all the diffidence of one who is not a trade wistes rises enough to enable full cargoes to be of extending foreign inde. Traveling in carried to chang, the junks, which take thit China away from a railway line will always be cargo farther west, find their voyaging becine slow and uncomfortable; but it is now seldom slow and perilo s. And when the passing of attended, with worse annoyance than the in king the shallows below Ichang, enfure might itself prove useful to a pioneer at uideli the flood season stimulates trade with Chung-quisitiveness of the natives a draw back that of accumulating cargo at feling must be open THE WRECK OF THE “CARRIER light loading onetesfifthe obvious course to conclusive objection on grounds of expense, &, since it is not resorted to. And the over coming of the difficulty must wait for the adoption of the toy car old suggestion of tow boats between the rapids and stborg haulage over them.

DOVE

The N. C. D. News of 6th inst. reports report from Capt. Wallace, of the C.M.S. In Saturday's issue we published a brief American schooner Garrier Dove, and the Haran, of the wreck, off Shaweishan, of the. rescue of hex captain and crew by the Haram, We are now able to give the following parti schooner of 634 tons register, and left Vans culars. The Carrier Dove is a four-masted

24th April. At Puget Sound she shipped up couver for Puget Sound and Shanghai on the 9.30 a.m. on the 30th of June, she went ashore wards of a million feet of lumber, About on a sand-bank N. of Shaweishan, in Lat. 31.

haay at the time. When he saw that it was im 39 N., Long, 122 03 E. Captain Jensen was. under the impression that he was in the vicinity

possible to keep the vessel from going aground ran her high and dry ashore on the bank. The the captain adopted the next best course, and crew were then landed in boats, one of their

share, Farohama bave further declined and good business is reported in No. 1ór at an became more quiet before returning ti hipost, steamer craft under foreign flag and paying lower rate of freight to foreigner than their of the North Saddle, the weather being very

A letter from the Manager received on the 33rd ultimo states: Had it not been for the heavy rains this month, we would have been able to get a larger crushing (from Swah) than Inst month. Chinese Engineering have drop- ped to Tls. 6.70 and are offering at the rate. Raubs can be procured at $9. The crushing for 4 weeks ending 29th June produced 645 oz. amelted gold from 2.550 tons of stone treated.

Ducks, Wharves, and Godowns, Hongkong and Whampoa Docks have improved and are rathe firm at $215. Notwithstanding the -announcement of a figal.dividend of Tls. 8.

have been sold in Shanghai at Tis. 18o. Kow. loon Wharfe remain quiet at $90. Hongkew Wharfs have weakened to Tls. 282) and sales at this price are reported.

Lands, Hotels and Buildings-Hongkong have been negotiated at $162) and $163. Hong-per bale ---Nos. 65 and 8e are not much in- have changed hands at $154. Sales of Astor during the past fortnight consist of about 25 House Hotels have been effected in the North at 531. Humphreys Estates are inquired for at $12, and China Providents have again been done at So

Cotton Mills.-Hongkong Cottons have found

The Japanese are making considerable head way on the upper river, as in trade ger eraily owing to their energy, persistence, and adop. long at least as they are upheld by Govern- tion of native methods of business, and so

and are developing quite a respectable trade alone run their vessels on a regular schedule, ment aid, they are likely to prosper. They

will Sba shih. This Autumn they had the mis during the busy season fortune to have one popular vessel stranded 'Though the Japanese lines only quote a competitors, the German companies, I am in formed, attract business by the offer of many given below, seem to be running at a better and various facilities, and, from the table profit than formerly. One cannot but doubt powerful companies, most of which have greater not, by checking competition for so many years and holding, as they did (and do the lease. of the entire frontage of the British con cession and its vicinity, stimulate other nations to take prompt advantage of the facilities offered shown no desire to fight, the new com-rs, but by the newer concessions. The "pool" has

Lands have strengthened their position and improvement of fifty cents to dollar and a bairt arrear. General Ma Yu Kun, Commandrin. are becoming daily more fumerous, and this, whether the Anglo-C' inese combination of number being unforturiately drowned through; kong Hotels continue on the upward move and i quired for. The market closes steady. Saleempowered to'enlist four more reginenf into ment regards such junks while in Hongkong interests on the coast thin on the river, did hoisted and the first boat to sight them was the

bales of No. 61-5,300 bales of No. 10-1,675 bales of No. 1ar-950 bales of No. 165-and 5,500 bales of No. sor-in all about a bales. Arrivals per steamers Pekin, Aral on Aptar, Kinsui "Maru, Laisang, Mazagon, and Coromandel about 13,500 bales, Shipments 5,000 bales. The unsold stock is estimated at about 16,500 bales...

Local Productions-Sales of about 700 Eales of No, 10s at $104, and about 400 bales of No. 125 at $100) per bale gre reported in the

The Sin Wan Fee learns that th new Viceroy of the Two Kwang, recen-lywied the Peking Government stating that long to widespread disorder in Kwangsi ade dis- tressing condition of the people'de pitly to famine he has transferred Tls, 300,00 g the tung Treasury to the militery fund of th pro vince, where he would make his peorary beadquarters to personally direct all hovnents of the Emperial troops and the adminisation

A somewhat new feature, resulting from the transfer, of the native customs to the Imperial Maritime Customs, is the number of non- duty to the latter department. Lighters under British flag are employed by Messre. Samuel and Company in the important of oil and junks under French, German and American flags, running between Canton and Hongkong notwithstanding that the Hongkong Govem as native craft. The change in flag. is made after they have left British waters, & site of affairs which is obviously unsatisfactory, both as regards the Hongkong Government and the Imperial Maritime Customs in Canton.

WEST RIVER TRADE Trade on the West River has received en:

for the opening of which great praise is due to pons of call for passenger traffic. The ports, the Frovincial Government, who offered every facility for the purpose, are Do Sing, Luk To, Yuet Sing, Luk Pu, How. Lik, Kau Kong gers are foruaking, in Increasing quantities Mah Ning and Yung Ki Cargo and passen. and numbers, native craft for the faster and afer foreign steam-re, Of these, there were Nanning and Sainas; but the advent of the formerly only the British stern-wheel vessels French steamer, Hongkong, has induced a lowering of freights, resulting in a loss of pro. fits and negativing, to some extent, the effect of the general development which has taken place

Cigar Companies.—Sumatras. have been to Shanghai and the Northern ports about. Szechuen and Tls, 350,000 from a vangcouragement from the opening of eight new rather, if report be true, to join bands with

buyers at $14.

(parted with at the reduced rate of Tia, 50,

Miscellaneous-Green Island Cements have been booked at $248, and more shares are

wasted. A. S. Watsons are weak at $148, and Watkins are on offer at 87. Electrics have thanged ownership at Sr3h for the old and Syj for the new shares closing with further, buyers at these figures. Dairy Farms have been dealt lo at $12. United Asbestos (Ordinary) are asked for at $9 after sales at this price." Shangbai Waterworks are in demand at Tha: 425.9. Langkats have further advanced to Tii, 315 at which rate business has been transacted.

thelf report dated the roth inst, Mesors. Benjamin, Kelly and Potts write in

market.

Japanese Yarn About 350 balas of No. 16 at $126, and about 750 bales of No, 203 at $131 to $133 changed hands.

Exchange-We quote to-day on India at Rs. 125 % London at sh. 1/8 1/1ód...

FREIGHT MARKET.

4th inst.

There have been several settlements during the week, including an American sailing vessel of 3,347 tons effected in New York on private terms. She was booked to sail from Shanghai and Hongkong to Baltimore and New York. Coal freights from Moji to Singaporo have been effected at 83.25 per ton; to Cheloo Yen 170 to Swatow $2.25. Ons German steamer, of 1,252 tons, has been chartered to load Karatro to

of the people. CONSUL'S REPORT ON IN ON

TRADE,

Copies of the diplomatic and conspireporte for 1907 are now coming to hand tas batch received including Mr Consul-Gel Scott's report on the trade of Canton for a year. In the course of his remarks he states

The trade of Canton is twofold(1) goods exported to and imported from figa coun- tries, and (3) goods which are deed solely for consumption in China itself

JAPAN-SIAM STEAMSHIP

SERVICE;

them.

5

the capsizing of one of the boats. Signals were C.MS Trene, bound North. The Irene hove to but seeing that the crew were safe and the vessel was in no danger of breaking up, she continued her voyage. On Friday morning the signala ashore with a boat to take off the shipwrecked were seen by the C.M.S. Haran, aud Capt. Wallace, of that vessel, sent the chief officer crew. On Saturday morning the wreck was reports the vessel safe and the sea smadib. again sighted. by the C.M.S, Hsinchi, which Salving appliances have already been sent to the scene of the wreck and it is expected that the vessel will be reföafed and for at faul

CHINA'S DEBT TO THE POWERS,

year, but there is no definite news of its advent, The prospectus of a line of river steamers, under the French Bag, appeared during the

to Changsha and other places on the Hsiang The formation of a strainer company to ply River, a service possible under the inland naviation rules, without awaiting the opening of the capital of Hunan by the general accept was left to Japan, and its vessels, aided by the a practicable proposal to make it easier for ance of Article VIII of the recent British Treaty, It is something gained, at all events that, usual subsidy, are expected to begin running in 1903 But the enterprise and energy of a

China to pay the war indemnity is now under British local agent have already inaugurated

international consideration at Poking. The essence of this new scheme into postpone under our flag what should surely prove a valuable trade. Between June 2 and October 21 Powers accepting illver in the meanwhile, gold payments until 1910, the eight creditor the 5,8.Changwo" made 17 voyages to Chang- That would, of course, pile up substantial arrears sha, and sometimes on to Hsiangtan, with a to be subsequently liquidated, but the Imperial success.remarkable in view of the many diffi- Treasury should gain much more than sufi culties attendant on any new venture in China. cient financial streogih during the next seven Despite this practical proof of business awaits years to bear that burden as well as the re ing development, and the certainty that the ad-sumption of gold payments. The scheme, such vantages gained by being first in the field will as it is, is of purely British authorship and bined companies have, so far as is known, laker ensure solely to their Japanese rival, the com- the Chinese will not be slow to appreciate ite:

generous character. England is the one Po

Eusiness has continued dull owing mare or loss to the unsettled state of exchange, and there is little change in the position generally. Banks-Hongkong and Shanghal Banks continue to rule firm with bayers at 5680 The London quotation has risen to 663 10. Nation, als bave nitroved and can be placed at $28

Marine Insurances Unions are quite at

inquired forjat S62 after-sales at the rate. Manila at $3.50 per ton.. Newchwang to Amoy and Hongkong trade on the Westiver be far Siam a regular steamship service by prolonging no steps to follow up this initial success; That wer among the éighṛihat claims no more than Syon Ching Traders have improved and are

Yangtszes have also advanced and sales at frachas fetched as centarer picul and Hongay to | as Wuchow, and, together with a ge nun ber the Formosan route of the Osaka Shosen ather will crowd in to share a trade established her just-due, All the others, including the

have been effected Canions have been dons and more shares are wanted at 5177 North Chinas are quoted in Shanghai at Tía. 237.

Fire Insurance. Hongkong Fires have buy ere at $325 and China Fires remain steady at $85.

Shipping Hongkong, Canton and Macao

same destination 32.60 per ton. Newchwang to Canton three steamers have been settled at 22 cents per picut (16,co piculs sich). Saigon to Iloilo 12 cents per picul, to one port Philip pines a6 cents, and to Hongkong 13 cents per picul.

في

ith inst

Kwangtung, apart from being centre of agricultural production, bas in capital of Canton what may be called the P of China, where arts and industries of varioueatriptions are concentrated and developed.. breign and Chinese-owned steamers runningum Canton

The Japan Times states that there i scheme on foot for opening between Japan nud

of native and foreign launches (s01393 in ), Kaisha. Negotiations are being conducted on Jurka and small craft, distribute a collect the this subject between Baron Kodama, Governor various anicles of which the merce of General of Formosa, and Mr. Inagaki, Japanese Kwangtung and Kwangs consist

Minister to Siam..

The currency of China beindas diver basis, I have in order to deduce e accurate comparisons, thought it advisab to express A WIRE to the Cablenswor, dated New York, Steamboats have improved and are în" demand

The settlements since the ad insi: bave the values of the trade in Halk teals. By July 7, says-Seventy-five people are dead as Zat 53834- Indo-Chinks are a shade firmer and been small in number, being confined to this method of calculation, thende ft. tba result of the bursting of adam ar Uakford have been negotiated at Steg zum dividend, only six steamers, three of which are British past year in considerably the largon reco Park, Pensylvania. Many others were injured closing in strong request at $97 ex the dividend and a like number of foreign vessels, 1., one the total value being B735.93418 as against by the frightful rush of water when the of 10 paid on the 7th Instant China and Swedish of 698 tons and two Germantof 1.093 60815.410 taels' in igor the press best, ang retaining walls gave way. The terrible acciden Manilas and Dougins Steamships are without and 1,033 tons, respectively.Japan coal increase of some 33 percent, whimay, both occurred with hardly any warning, and those Change, Star Ferries continua in request at freights have been settled on the basis of as regards native and foreign chants, be in the path of the flood had no time to seek $17 for the old and 517 for the new issue, $1.80 per ton Maji-to Hongkong,

sterling, however, the shore rejunhow a very destroyed, and many residences swept away 3/6 Shanghai Tugs have advanced to Tit. Swatow $1.90 per side has been potuined, 22 different result, 350 at which rate there are buyers Cargo cents per picul ja the rate obtained for NewThe Haikwan thels averaged follows

The disaster recalls the Johnstown flood which Boats have been fixed at The 1771

drowned many hopsands, and which was also caused by the failure of the walls of a reservoir, to retain the waters when swollen by heavy rains, The State is rendering aid to the home less, and collections are being taken up to give those rendered paupers a new start in lich

reason for che risk can hardly be the United States, put forward largely inflated reason for such apathy.

A more serious abjection is, of course, the

demand those of Germany and Russia being fact that only for half the year is the new traffic afforded, therefore, to bear the reduction ter the mac extortionate. They could have, well possible to steamers capable of safe working sulting, from the substitution of silver for gold, would think, be met by the use on the inner down to Hankow. This difficulty might, one waters of shallow-draught vessels, which would, less than the covenanted pound of Beab, the but as there does not appear the least likelli as did the rice funks during the winter, tran- only thing to be done is to have the victim hood of Shylock being content with anything ship their car, ocs into the Ichang liners at from being bled to death, as it is not the Yochou. It is, moreever, possible that the pro- Interest of the Powers to hasten that traged Vincial authorities might be persuaded to sand that should feel greatly indebted to Sir Ernest tien, if act to undertake, the removal of the Satow for outlining plan which would at all sand bars which, it is reported, are the sole events stave it off until 1pic. According to all the year round. In addition, the finding or By been better appreciated by the other and ini opening of a channel across the Tungting. Lake from Yochou to mouth of the Yuan River would sorely preased Just now by financial difficulties

ters Unfortunately, two of the claimants are tap the trade of thriving Changle, and so at home, and the immediate relist of this supply abundant cargo. It will be a disap pointment if the opening of steamer, trafic their Governments of much great to the largest possible extent, STAY with Western Hunan is likewise neglected by quence that the relief of the Paki the British companies,

ITAM A UNIPArskie, burdene

Shell Transports here again changed handsat per son Karatzu to Manila, Honddered most satisfactory, depressed in' safety. A great deal of yalable property was obstructions to reaching nearly to Changsha the Timer correspondent at Peking it has later

chwang to Canion, while Southern Tattle

port

Refineries China Sugata are in 'demand atments have been as follows Saigon to Manila,

Stoo. Lusons are quiet at quotation

Minjng Parjoms are wanted at $a, and Raube at $8k Jelebur keay offering al 313,

25 cents per picul, and Saigon to Philippines, 25 cents if to two ports 25 cents por pleplie

Valde.