1922-02-15 — Page 12

12

PIECE GOODS MARKET.

A Most Disastrous Year.

worde

painted

THE HONGKONG

TELEGRAPH.

WEDNESDAY, FEBRUARY 15, 1922.

HOTELS.

on the condition of the new crop portanos. The outlook, both on and its estimated. realisation. Home and Export accometrowing, Both of these were so much to the excessively high rates the material, and of the TAW anticipated than

And other tajlabour question, 30 conclusively

factors, created The following review of thela pronounced shortage both unfavourable Piece Goods Market, dated Lon-in higher grade and better quality) a situation which it was difficult don, December 30th, should prove cotton that speculation was at to see the termination of. The of interest to local business menonce let loose and prices hounded heavy stocks all round of most So far as the cotton industry is up By the end of Septetuber, the expensive goods at unproosndent- concerned, 1921 has been the spot quotation had rises to 15.71,fed values, and the apathy of the most disastrous year ever known. but subsequent figures knocked buyers formed conditions most From beginning to end it has the bottom out of the Bureau depressing in every centre of the and worsted trades. witnessed ons long series of dis-estimate of 61 million bales, and, woollen

diffi apart from a few temporary ral Buyers for the most part coa

bold aloof, aither appointments, financial culties and complete lack of lies, nothing happened to stay the tinued to sustained demand. Spinning, downward movement which en- because of their own difficulties A revised crop estimate of or in order to await develop weaving, bleaching, printing, sued.

yeing, merchanting, no branch 834 million bales appeared early meats, This unfortunate position time progressed developed escaped. and never in December, but the amendment as hefore bas depression been was not expected, had little much more seriously and in- o widespread or gone anything effect, and the final quotationfcreased in severity, and it became like so deep. The liquidation of stands at 11.71. Egyptian cot-imperative to decide how the ac 21.00

the cumulations were to be liquidated from

kept running. dear-bought cargo, where reali-ton sation was a pressing ascessity 1st January declined to 13.00 in and machinery which could not be postponed, has February, rose again to 17.75 in Manufacturers, by the force of brought with it losses of such April and was at. 15.50 in the circumstance, bowed to the inarit- magnitude that the wonder is that middle of Angust. The specula-able and stocks began to be rapid- failures on this side have been so tion boom inaugurated in Septem-ly said, though at

carried it up. in losses, running up to 50% and comparatively few in number, ber but the trouble, unfortunately, sympathy with American and for more. The situation was some

to 30.75; it what eased thereby, but the dis-1 does not begin and end there. similar reasons,

astrous coal strike then occurred, An enormous amount of wreckage Enished the year at 21.50.

With regard to individual lasting from April to June, and effects has still to be cleared and before

its cumulative it is finished with there is no markets, Indis, by virtue of its with telling what may happen.

being the largest outlet for cotton brought many sections of trade to

188

on

enorious

HONGKONG HOTEL

PEAK HOTEL

REPULSE BAY HOTEL

Hongkong Hotel Co., Ltd.

KING

EDWARD HOTEL.

CENTRAL LOCATION,

ELECTRIC LIFTS AND LIGHTING, TELEPHONE ON EACH FLOOR. HOTEL LAUNCH MEETS ALL STEAMERS. ·

Telegraphic Address: "VitTORIATM [L. 373.

J. WITCHELL,

Manager.

One has only to glance at the goods, naturally influences the a standstill, a large quantity of EUROPE HOTEL, SINGAPORE.

САД

DOT

overseas trade.

PASSENGERS ARRIVED.

FIT

UNDER NEW BRITISH MANAGEMENT,

THE PREMIER HOTEL FINEST SITUATION.

EXCELLENT CUISINE.

ARTHUR B. ODELL,

(Late Grand Hotel, Southcliffe, England and

Royal Palace Hatal, London, W)

KINGSCLERE HOTEL

MID-LEVEL

KNUTSFORD HOTEL KOWLOON SACHSE, LENNOX & Co. General Agents

Are resident Managers.

EXCHANGE.

"(Opening Rate: closing Rate

on Page 11..

SELLING,

2/6 21676

2/614

Nor

10814

11414 191

54

146

latest available balance sheets of position on this side to a much machinery being shut down com- mills, combines, and public com rester extent than any other pletely. During the later part panies in the cotton trade to recountry, and its complete lack of of the year, old stocks have coo- alise bow terribly severe has been support must be put down in a tinued to be liquidated, but en- the serback and how far shert large measure by the general quiries have been more numerous have the actual results come ofragation which has characteris and many industries are experi the brilliant expectations held outed the year's trading. The diffi-encing a satisfactory movement at the time of the recapitalisation culties which confronted Lancs-for certain standard cloths which, boom in 1919. It has been rec-shire in the closing stages of 1920 it is thought, will not fall off. ognised, when too late, that by India's deplorable attitude in Spinners of late have booked countries such as India and Chins respect to obligations it had con-heavily for export to the Con- ware only in a position to pay the tracted at the height of the boominent at remunerative prices and high prices then current by reason have been en mously aggravated are still well engaged on con- of an abnormal rate of exchange, during 1921. Dishonoured drafts tracts. The opinion is gaining and now that slump has come on a scale hitherto unknowa, and ground that the outlook for 1922: about in that direction, the whole smounting to many millions off is much better than a year ago,

now evident from situation is changed. Neither pounds sterling, still prasent an as it is

barrier even impenetrable Indis

Chine

which survey of the different depart- if the disposition were there, nothing so far, Bave in some in-ments that no great variation| afford to buy excep: stances the grant of exhorbitant in values is likely to occur during under conditions more or less allowances, ha teen able to break the next few months. normal, and this applies practic-down. Political propaganda, non- ally to every market of the world. co-operation, "Swadeshi" in its To get back to sach condition worst form, the cal: of the is one of the problems sti Gandhi movement with the bog.

> be faced and a reduction in cotting of foreign piece goods im! The coat of production is one of ports as its foremost tener, have a li the first necessities, not only in combined to make bud worse andi

Per s. Nagoya-Miss B. Addis, accomplishing this bat in success to increase the general unrest. Mrs. R. M. Austen, Mr. C. Barkin,

Demand fully meeting the competition Bombay and Delhi have been the tr. Y. Z. Cheng, Mr. J. Duff, Mr. A

of the trouble. which Lancashire is faced with headquarters n all sides in catering of the Calculia has a escaped the avid. Mr. F. Elias, Miss Elisa, 30 dĮs Miss England, Mr. J. Gordon, Miss 50 dis contagion but Madras, generally At the beginning of the year.& law unto itself, did not fall into Glauser. Mr. W. Hil, Mrs. Hayim, & mix hopes ware being raised that line with the other large centres Mr. J. Horn, Mrs. Horri and child, TIT Shanghai .... tum for the better was really in and by going about things in its Mr. A. Kelgwin, Mr. H. Lee, Miss RFT Singapore... sight. Enquiry was being met own way has been the gainer Liddell, Mr. and Mrs. Morrison, Mr. Japan:....

Moses, Mrs. Stephen, Mr. A J. FT India..... with in greater volume, the thereby.

Wa Demand, India Wong Duk material hardening, and China has been labouring in Welch. Mr.

& New York) Соде of the market troubled waters, like every other Mr. S. Atkinson, Mr. R. Allen, Mr. T San Francisco

Losses in

T/T Jave business Appleton, Mr. W. Bryan, Master was almost cheerful. But this

not was too good to last, and before circles, and these con- Button, Mr. A. Bell, Mr. E. Burns, T/T Marks ........... Nom.

only. Mr. C. fices native

Bowie, Capt. and Mrs. T/T France

6.35 the end of January the old rut of fined depression was again uppermost have been terrific, whilst political Stapleton-Cotton and child, Miss W. Demand, Paris ....... Temporary relief was afforded by intriguing, famine, lawlessness the active demand from Calcutta and wholesale looting have been Crook, Mr. and Mrs. Dickson, Miss Day, Mr. and Mrs. Davis, Mrs. fabrics, in

children. Mr. Dhooties figured most prom aggravated later by dest money. Extericy and igently, but, as an offset against None the less, there are more Hughes. Mr. J. Heary, Miss Her. this, came the unlooked for hopes for China than for most bert. Mr. J. H. Keller, Mr. W. B.

Indian announcement of the

quarters. Stocks in the interior Kennett. Mr. F. Marcussen, Mr. G. to .in- Government's decision

are light, and if the Washington May, Mr. Mather, Mr. C. McEvoy, crease the ad valorem duty on i-Conference disposes of a number Mr. and Mrs. Royer, Miss Royer, and Mrs. ported cotton goods by 3.12 per of questions in which she is Mr. Wu Lien Teh, Mr. cent, waaccompanied by a coun-particularly interested, a healthy terrailing excise duty. To add business may not be far off. Java to the general difficulties, April and Singapore. beth suffering saw the country planged into the from an accumulation of dest throea of a coal strike which, bought cargo, have been no ex- quite bad enough in itself, was ceptions to the general run of the fortunately kept within its own Far Eastern markets but for the bounds by the refusal of the rail-Near East, particulart Egypt,

Per A. AKI MARU for Au. way and transport men to join the operations for a time assumed forces with the miners. It was quite respectable porportions. tralia. Miss M. Hewson, Mrs E. quite suficient, however, to act

The Western hemisphere, over- Herman, Capt & Mrs. E. M. Van as a deterrent to, any efforts to- wards revival, and the outlook bought at the top of the market Voorbees, Mr. W. R. Dover. Mr. was not improved when all the like everywhere else, has had its & Mrs. E Anning, Mr. K. Fuji-i, mills shut down as the result of quota of trials and afflictions Mias. F. Tucker. Master E to contend with, and Coba, Tucker, Mr. A. Hillyer, Mr. M. employers, and employees being

and the West Indies Takahashi, Mr. Sterling Heary, Haiti.

off Miss C. M. Aston, Mr. L. Henry unable to agree upon the voxed

generally question of a reduction in wages.

The end of Jane found both badly. The same may be said Mrs. I. Matsushima, Mr. Caut

JAW

the

for light

that

market.

to

which

more rampart than

for

B

ever

have coma

of

and

Timm.

PASSENGERS DEPARTED.

Melbourne

BUYING.

A co/L/C

F.

I m/s. DIP

2/744 2,734

5 m/s. L/C 37d/s. Sydney and

2/793 2/9

33ds. San Francis-1

co&New York)

4 m/s, Marks

¡ m/s. Francs

564

Nom. 6.95

5 m/s. France............

7.15

Demand, Germany.

Demand, New York 541%

TIT Bombay

Nom.

Demand, Bombay

191 Noth 191

ww

T/T Calcutta. Demand, Calcutta Ja Yokohama..... 11434 Demand, Mania

--- 11

146 Demand, Batavia Demand, Bingepare. 103 Jn Haiphong

Nom. On Baigon On Bangkok

8314 old leaf per Tael... Nom. 7.75 Bar Silver, ready... 3135

Sovereign

forward

10

5

*

34

NOTICE.

MITSUBISHI SHOJ.

KAISHA, LTD.A

(MITSUBISHI TRABIRD GO. LTDJ COAL, GENERAL IMPORTS AND

LIPORTS.

ENTERTAINMENT

THE

CORONET

MALE

&

FEMALE

--reels

KOWLOON

THEATRE

For cae sight only

at $-45 and 9-15 SYLVIA

BREAMER

'DAWN."

IJ

HONGKONG THEATRE

TO-NIGHT at 5.15 and 9,15

"ASHES OF DESIRE"

in 6 parts.

And a Triangle-Keystone comedy TWO CROOKS

in 2 parts.

WORLD THEATRE

PhoŃe, 1337

OF COAL WOMEN SOLE PROPRIETORS

OCHL KOGAYAMA. OFTAKANJEMA, TOSHINGTANI, HOJO, KAMAZUTA, BATC. SHINNEW, KANADA, KAMITAMĀJA, „BISA,

A OTURARI.

Agents for SAKITO COAL

HEAD OFFICE, TOKYO, BRANCHES AND REPRESENTA- TIVES:- NAGASAKI, KARATSU, WAKAMATSU, MOJI, KURE, KOBE, OSAKA, TSURUGA. NADOYA, YOKOHAMA, TOKYO, HAKODATE, MUROBAN, OTARU, VLADIVOS,' TOCK, PEKING, TIENTSIH, DAIKEN, TSINGTAO, HANKOW, SHANGHAI, HONGKONG, SINGAPORE, 80KRA- | 1 BAYA, SYDNEY, LONDON, BERLIN, & | LYONS, PARIS, NEW YORK

BEATTLE.

Cable Addres* -----~ [WASAKISAL,” Codes—AL, A.B.C. 5TH ED„ Western Union and Bentley.

AGENCIES FOR THE MITSUBISH MARINE AND FIRE INSURANOZ

Co.

THE OSAKA MARINE & FIRE INSURANCE CO.

For Particulars Apply to sme S. OKUBO, Manager. No. 14. Pedder Street Hongkong.

TIME TABLE.

Every 1 mi.

13 BLO

WEEK DAYS.

1.30. 10 000 km.

11.30 am.

11.30 11.30

H

12.30 p.2' 12.30 p.m. a 2.30 p.m.

H

15 mm

$94.00 pm.

12 t

15 mta

19 min

PHONE, 17

Hongkong's Most Modern Picture Palace. Entirely ander British Management.

TO-DAY'S PROGRAMME

9.15 p.m. performance

JEWEL CARMEN

in

THE BRIDE OF FEAR

THE GREAT GARCIA TROUPE with

MISSES GLADYS GORDON and NINA

in LATEST SONGS and DANCES

Prices of Admission :---

$1.50, $1.00 60ct.

3.30 and 7.15 EILEEN SEDGWICK in

Fathe

5 p.m. (sharp) performance

DOROTHY DALTON

C

in 'QUICKSAND":

THE GREAT GARCIA TROUPE

with

MISSES GLADYS GORDON and NINA --

LATEST SONGS and DANUPS

1

Prices of Admission ------ $70 cents and 50 cents.

performances

DIAMOND QUEEN" 12 & 19 Epis.

Booking at the Theatre.

N.winds,

? Formosa Channel } fresh.

WEATHER REPORT.

Feb. 15d. 125. 35m-Pressure

3 Bouth. sonst. of) moderately at

China

between HE & Lamocki)

Haiphong and decreased slightly over Formosa and the Philippines. Depresatoda are shown over Taarane and to the east of Formosa.

Fresh maroon may be ex- pected along the east Coast of China.

4.3534 atrikus settled and once again of South America, though the ney. Miss Thomson, Miss J. E Bank of England ratos 5%

gai latest reports indicate au im- Gregory, Mr. G. Dance, Mr. Tew York/London w bapes were high

SUBSIDIARY COINS. reached Proved outlook and several of the D. Liacco, Mr. S. Kato, Mr. J. beer threshold bas

old-established firms who, to their Garcia, Mr. Shewaram, Mr. Alex of

im- the long-looked-for

But it was not to credit, have consistently met Kaw, Mr. H. Stanfield, Miss

1/2% pm. their engagements are gradually Peterkia, M. Librio Benavent. H'kong 50 ct pisces par provement.

TOOS8 the

7:10% dis. PEAK TRAMWAYS CO., LTD. has increased be-nothing could

16.5/5% dia. prevailing apa:by of the consum-working off old orders and pre- Mr. T. Okano, Miss E. L. Lat

Dormal Kawamurs, Lieut. E. M. Byles, Canton sub.coins ing markets, complete lifelessnessparing the way it is to be hoped shaw, Mrs. E. Crooks, Mr. K.

resumption

Mr. Y. Ono, Mr. & Mrs. L.

Hongkong Feb 15, 1922. once mure assumed possession

trading. and unemployment was rife in

The year closed with dothing Tocker, Miss. Stella Tucker, Mr. every direction. The speculation in cotton in September, leading to very solid to build upon as a C. Fitch, Mr. J. Yamashita, Rev. biguer prices for yarn and cloth, foundation for its successor (G. C. Bartter, Mrs. E. W Aston, got no backing in the stape of if the Conference of the Great Mr. G. C. Bartter, Mrs. L Henry, ac increase in demand for goods Powers can really evolve some Miss M. Maki. Mr. & Mrs. Thom- from abroad, whilst the ovember practical scheme for the economic son, Mrs. Moore, Mrs. McKay, ginning, firures completely upset restoration of Eurore, & world- Mrs. A. L. Balfaur. Mr. Jacinto, previous bull sentiment and left wide improvement would be the Mr. W. Wittrock, Mr. Otto F.l the market without a shred of natural sequiefce and the dawn Credo, Mrs. J. Garcia, Mr. C. S.

Bell. Mr. T. J. Jaint. a state of of better times may not be so far Brown. Mr. Anderson, Mrs. J. confience and in

Per s.. NAGOYA for Europe. shsolute dejection which nothing distant after all.

Yorkshire-In all branches of that bas occurred since has to

the Wool Textile industry the-Mr. Elsby, Pay. Com. Brown,! eny material extent alleviated.

Tarning to the raw material. opening of the year zave no pro- Mr. Moon, Dr. W. B. A. Moose. January opened with Middling mise of a revival from the prevail. Mr. & Mrs. Kennett, Mrs. Mara, American just under 1000 per lb. ing stagnation. Producers of all Miss Roberts, Capt J. P. Scholten gradually rising to 11.78 but de-classes in the piece trade, in- Mr. A. E. Fearnley, Mr. W. clining in February to 7.13, which clusive of mixed cotton and wool Gordon, Mr. & Mrs. Anderson, proved to be the lowest point of cloths and fabrics, were impress Sab. Insp. J. Mose, Sab.-Insp. The year. During the next eix ed by the conviction that they Spear, Sub-Insp. Perkins, Mr. months fluctuations were almost were face to face against a year Goh Kai Eok, Mr. da Costa, Mr. negligible, but at the end of which presented no features of H. M. Sinclair, Mr. J. A. Bide, August came the Buresa reports any prospective business of im. Mr. J. J. Moore, Mr. G. Cousins.

MAN-

WOMAN-

MARRIACE

NIGHT CARS. B.56 .. to 8.00p.m. 0.2 p.

... o 11.30 p.m. viery. W minutes 11.46.0

SATURDAYS.

SZYKA SAX 12,00 mietigh

SUNDAYS.

180 to 7,35 ■.m,

I. fo. 3LOB AL-

25 to 27.05 BAOR 100 ..

2005

4.00 p. 10 ‘BLIR D.ML

NIGHT CARS.

As ons Work Dayto

SPECIAL CARS.

ET LEHNGEMENT NE TES Ozumiity's

ALTE

Hongkong Rainfall for the 24 bours ending at 10 am, to-day, L36 inch. Total since January Lat 5.31 inches, against average of 2.29 inches. FORECAST FOR THE 24 HOURS ENDING AT NOON TO-MORROW.

District

Forecast.

The same

as No. 1.

4 South coast of The same

China, batween

a No. 1."

HK. & Hainst.

T. V. CLAXTON, Director. E.K. Observatory, Tab. 15, 1922.

"PREVENTING INFLUENZA. Remarkable results have been. obtained by the use of iodine on the tongue as a preventíre sgainst. influenza. The experiment was made in Uganda by Dr. J. A. N. to NETaylor after the success of the same treatment in case of spotted faver, states the British Medical Journal.

1 Hongkong to Gap} winds,

Book

moderate cloudy.

Printed and Published for the Proprietor

11, Iss House Street, in the City of Thet