354
Persian.There has not been much doing dur- ing the period under review, Current rates are $500 to $880 for Oily and $550 to $700. for Paper-wrapped according to quality.
To-day's stocks are estimated as under
.....1,141 chests.
New Patna.
New Benares
Malwa
Persian
501 410
670
"
J
COURSE OF THE HONGKONG OPIUM MARKET.
DATE.
PATNA.
DENARES.
MALWA.
New. Old. New. Old Now. Old.
1897.
$
$
$
$
Oct. 27 710
7071
Oct. 28 705
705
Oct. 29 700
700
Oct. 30
695
692)
Oct. 31 695
692
Nov. 1
695
692)
Nov. 2 7014 Nov.
7032
7032
707)
$ $ 780/800 820/870 780/800 820/870 780/800 820,870 780/800 820/870 780 800 820/870 780 800 820 870
780/800 820,870 1780/800/820/870
COTTON. HONGKONG, 3rd November.-A further reduc- tion of fifty cents has been made, which induced small business. Stock, about 1,780 bales.
Bombay.
..$17.00 to 17.5 p. pl. Kurrachee
15.50 to 16.00
Bengal, Rangoon, and
Dacca
16.50 to 17.00
>1
Shanghai and Japanese.. 20.00 to 21.00 Tangchow and Ningpo.. 20.00 to 21.00 Madras (Best).
17.00 to 17.25 Sales: 1,220 picnis Bengal, Kingoon, and Dacca ̧
RICE.
HONGKONG, 3rd November-Owing to large arrivals and the reaping of the new crop in the Canton district prices have experienced a heavy decline. Quotations are:----
Saigon, Ordinary
Round, good quality. Long
Siam, Field, mill cleaned, No, 2
Garden,
"
3
White...
"
Fine Cargo
33
COALS.
No. 1
$2.72 to 2.75 2.06 to 3.00 3 20 to 3.25 2.75 to 2.89 3.06 to 3.10 4.10 to 4.15 4.25 to 4.30
Market quiet HONOKOTO, 3rd November. Sales of Japanese 10,000 tons at $8.75 and $10.23 Quotations are :—
Cardiff
Australian... Miike Lamp... 10,00 to 10 25 ex ship, nominal Mike Smal Moji Lump
$16.50 to 18.00 ex ship. (89.00 to 0.40 small.
10.30 lump.
nominal
$ 50 to 10.00 8.0) 10 9.5 ex ship, stealy.
MISCELLANEOUS IMPORTS. HONGKONG. 3rd November-Amongst the sales reported are the following:
YAEN
AND PIECE Goons:-Bombay Yarn.- 695 biles No. 10 at $86 to 534, 385 bales No. 12 at $84 to $95, 85 biles No 16 at $93 to $91, 510 bales No. 20 at $95.50 to $108. Grey Shirtings- 300 pieces 84 lbs. Blue Men at $281, 250 pieces 10 lbs. Blue 7 Boys at $1.15. T-Cloths-600 pieces 8 lb. Hunter and Stag C. C. at -3.07), 300 pieces 8 lbs. Crown at 2.80 375 pieces 7 lbs. 4 Dragon and Fing at 2.20, 1,120 pieces 7 lbs. Red Stag at $2.421. Drill.--15 pieces 16 lbs. Large Eagle at 35.33, 150 pieces 15 lbs. Large Eagle at $4.90, 150 pie es 14 lb.
No. 250 at
$3.60. Long Ells-150 pieces 9 lbs. Scarlet at $6.35. Camlets-150 piec-s A.A A, dark blue, nt $2.80.
Tin
METALS.-Iron-2,520 piculs Old Fish net at $2.50, 2,910 pieuls Old Ship plate nt $2.10. -200 slabs Foongebai at $39.56, 200 slabs Siam at $39.25. Quicksilver-250 flasks at $125 to $127.
SHANGHAI, 23th October.—( Fr m Messrs. Noël, Murray & Co's. Piece Gools Trade Report)- We think it can be safely said that the market has never been in a worse state than it is at present. There is absolutely nothing doing, beyond the Auctions, and deliveries of former It must purchases have fallen off lamentably.
be almittel, however, that the dealers have had an unprecedented combination of circum- stances to contend against, which bids fair to knock some of the gilt off the much vaunted integrity of the Celestial as a merchant. They are all right in fair weather, and with a favourable breeze go along swimmingly, but now they have got into a tight place their true character shows up, and quite justifies the
THE HONGKONG WEEKLY PRESS AND
remark made by a prominent Importer of long standing, that the class of men
we deal with is deteriorating. This has undoubtedly come about by the spirit of gambling that has been introduced into the trade, assisted by the laxity displayed by Importers as regards getting proper security for the due fulfilment of contracts. Men of no credit or standing have been allow d to cut into the business of old established houses and goods have been indented for in an indiscriminate manner, trusting to the demand arising for them by the time they arrived, instead of having an outlet assured, to a certain extent. before they were ordered. It is reported that several of the smaller fry have disappeared already, and some of the better known dealers | are declining to take up their goods, or even attempt to do so. Orders from the outside mar- kets are still withheld, probably with good reason, as they are said to be at prices much below what Importers could accept. Meanwhile the time is rapidly drawing nigh for the closing of the Nor- thern Ports, and still deliveries barely come up to the arrivals. A very heavy stook will have to be carried through the winter as it is, and it is hoped will not be greatly increased by fresh arrivals. Shipments from home however, are keep ing up in a remarkable manner, the export for the first half of this month being 11,000,000 pieces of Plain Cottons. The productions of the local Mills are naturally being affected to some extent by the general depression now existing here with all Imports and prices have fallen about six taes per bale, on which basis business has been done this week. The high rate of native interest is interfering somewhat with business. Cotton is coming in freely and is obtainable on slightly easier terms. There was a perceptible diminu. tion in the quantities offered at the Ewo Auction yesterday, and prices responded accordingly. The full quantity was sold at Yuen Fong this mor- ning with less satisfactory results.
METALS, 29th October.-(From Messrs. Alex. Belfeld & Co's. Report. )→In metals, owing to the somewhat better feeling Teported as prevailing in the home markets, there has been an easier tone during the past few days, but very little business has resulted, most of the improvement being manifested in enquiries. On the other hand, the dealers, who have made contracts for forward delivery, have in the main settled their exchange, and are now, as a consequence, awaiting the arrival of their cargo with patience, the only remaining anxiety being the price they will be able to command when selling. The very bigh rate of native interest prevailing, as high as 8 mace a day, or nearly 30 per cent per annum, combined with the state of the exchange market, fully account for the very flat ton that is at present prevailing in Shanghai, and, indeed, ovov the whole Far East, The following sales bave been effected:-100 tons Sohiers Exp. N.R. at 135s. ¡c.i.f., 100 tons Pig Iron at 476, s., ri.f,
EXCHANGE. WEDNESDAY, 3rd November.
ON LONDON.-
Telegraphic Transfer
.1/10
1/1013 .1/104
111
Bank Bills, on demand- Bank Bills, at 30 days' sight Bank Bills, at months sight...1/1013 Credits, at 4 months' sight Documentary Bills, 4 months' sight 1/114 On PARIS.-—
2.391 2.43
1.931
Bank Bills, on demand Credits, at 4 months' sight
ON
GERMANY. ——
On demand
ON NEW YORK.-
Bank Bills, on demand
461
Credits, 60 days' sight.
.471
ON BOMBAY,—
Telegraphic Transfer. Bank, on demand..
1444
.145
ON CALCUTTA.—-
Telegraphic Transfer
.1442
Bank, on demand..
.145
ON
SHANGHAI.—
Bank, at sight
Private, 30 days' sight.
.714 ..747
ON YOKOHAMA.---
On demand.
ON MANILA.— On demand ON SINGAPORE.-
On demand. SOVEREIGNS Bank's Buying Rate Gold Leaf, 100 fine, per tael
..64% pm.
41% pm.
par.
10.36 53,50
[November 4, 1897.
JOINT STOCK SHARES. HONGKONG, 3rd November.There are no special features nor any material change to report since the date of last report.
Business has been somewhat restricted by tightness of money and the Shanghai race meeting, which last has almost entirely stopped the usual interport business,
BANKS. - Hongkong and Shanghais are · enquired for in small odd lots at 180 per cent. prem., after small sales at 179, but larger lots are obtainable; some small cash sales have taken place at 179 and 180, and a few time sales at equivalent rates for December and January. Nationals have continned i. demand but without business at $23. MARINE INSURANCES.
All continue dull and without business. China Traders, Unions, and Cantons are obtainableat quotation, and Northern Insurances also remain inactive with small sales of North Chinas in the North at Tls. 198 and Tis. 200.
FIRE INSURANCES.- Hongkongs are un- changed and without business at $3674. Chinas have found buyers at $107 and close quiet at
that rate.
SHIPPING-Hongkong, Canton and Macaos have changed hands at $30 for cash and at $31 and $314 for January and February delivery, the market closing steady at 830 cash, Indo- Chinas have been the medium of a fair business during the week at $51 and $511, Shanghai being the chief seller; the stock closes steady. Douglases remain unchanged with no business. The Company has finally decided to build a new steamer to be called the Hai Ching. China Manilas and China Mutuals are unchanged and without business.
4
MINING. Panjoms have ruled quite neglected with sellers and no buyers at $4. It was decided at the meeting held on the 27th ultimo to reconstruct the Company. Charbonnages have found buyers and are enquired for at $110, bat holders refuse to part. The Company's sales of Coal have largely increased of late, and there is now no difficulty in disposing of both lump and dust at remunerative prices. New Balmorals remain quiet with only small and unimportant sales. at quotations. Olivers B have changed hands at $7.75 and close steady. Jelebus have ruled quiet at quotation with small sales. Raubs, continuing in demand at $20 without sellers, the rate gradually rose to $23, after fair sales at $211, $22, and $22; later, however, on the approach of settlements, the rate again weakened to $214 and $213, at which shares changed hands in fair lots. The market closes firm at $21.75. Written advices from Singapore state that a better crushing than last may be expected for September and October, and that it will probably amount to 2,000 oz.
REFINERIES.-China Sugars have continued steady to strong and in fair demand; sales have been made at $154, $154, and $155, the market closing steady at $156. Luzons have again been dealt in at advancing rates, sales having taken place at $37, $38, $39, $40, and $42, market closing steady at the last rate.
DOCKS, WHARVES, AND GODOWN8.-Stocks under this heading continue neglected. Houg- kong and Whampoa Docks have been on offer at 227 per cent. prem, without leading to busi- ness, but a small time business has been put through for December and January at 233 and 236 per cent. prem., market closing with cash and time sellers at rates somewhat under these. In Kowloon Wharves and Wanchais there is no business to report.
LANDS, HOTEls, and BuilDINGS. Hong- kong Lands have found small bayers at $75, Hotels at $48, West Points at $214, and Hum- phreys at $9.75, all closing quiet with probuble sellers at quotations.
MISCELLANEOUS.-Green Islands have ruled quiet and more or less neglected at quotations. Watsons have found small buyers at $121, but more shares are obtainable at the rate. Ewos have changed hands locally at Tls, 111 and sales are reported in Shanghai at Tls. 112 and Tls. 112. At a meeting held in Shanghai the increase of capital was agreed to and it was announced that the General Managers upon the extra capital being subscribed would reduce their commissions by one half. The Chairman also announced that a dividend at the rate of from 7 to 8 per cent. per annum would shortly be
I
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