October 24, 1903.
COMMERCIAL.
TEA.
other
A correspondent of the Kobe Chronicle states that the tea trade of Japan seems to be destined to undergo a great change. The great importance of preserving the hatural aroma and qualities of the tea leaf by speedy re-firing after picking and the first process of rolling and curing. will naturally lead to the establishment of tea firing godowns in the centre of the tea-producing districts.
As already predicted, it is probable
that in a short time the Yokohama tea market with its re-firing premises will remove to Shid- zuoka and neighbourhood. In Kobe the condi- tions are somewhat different, as small lots of lowgrade teas are sent here from various districts whose production does not warrant the establish- ment of independent re-firing premises, as a great many teas are mixed together in Kobe so as to make one line of tea suitable for export. The gradual advance in the value of land in Kobe inakes it little wonder that some exporting firms contemplate removing their re-firing premises to the interior districts. The total or partial removal of tes-firing godowns from Kobe. and the general adoption of machinery in lieu of hand labour will bring about a serious change in the labour co di- tions of this city. Many of the coolie class, chiefly women, are dependent on the ten-firing trade, and as far as I can see there will be no occupation for these poor people When this particular work is taken from them. This is a serious question confronting the labouring classes, but, even if the tea-firing godowns remain in Kobe, machinery will inevitably take the place of the present hand labour. Several foreign firms are already reported as having decided to adopt machinery in time for the coming season. The cheapness of land in the interior, and the cheapneas of labour would so reduce the producing cost if tea-firing godowns were removed that Japan would be able to compete with Ceylon and India in its tea. The better quality to be obtained by immediate re- firing will also grantly enhance its advantages on the market, and enable it to hold its own with other competitors.
FopcHow, Octallfr
16th.-The Settlements of the past week afe 3,183 half chests Congous, 1,057 half chests Souchongs, and 2,087 boxes of scented teas. The export to date, per consignees returns, is compared belor with the export for the corresponding period last year:-
1903-4
1902-3 3,812,461 lhs, 3.841,161 Ihs
1,012,789
Great Britain Australia & N.Z. 1,408,095 United States and
Canada
"
1,704,558 8,033,173
Continent of
Europe..
17
South Africa
4,179,390 4,224,353
56:1,300
1,016,422
CHINA OVERLAND TRADE REPORT.
SILK.
OPIUM.
HONGKONG, 21st October-
309
Quotations are:-Allowance net. to.1 catty.
Malwa New Malwa Old Malwa Older.
Malwa A. Old Persian fine quality Persian extra fine Patna New
SHANGHAI.-Messrs. A. R. Burkill and Son's Circular of 15th October reports, as follows:-The home markets are unchanged. Gold Kiling is quoted in London at 13/-. Raw Silk.-A settle- ment of 20 bales Buffalo (3 at Tis. 680) is the only transaction recorded in Tsatlees. This price marks a decline to Tls, 20 per picul, but the rise in Exchange renders the laying down cost no cheaper. Yellow Silks continue in demand and Patna Old very high prices are being paid. Hand Filatures. A few settlements are recorded in Ordinary reels
Steam Filatures.- Scarcely anything doing, the market is easy. Waste Silk.-Market strong, and good Honan II. has been taken at Tls. 46. We hear that 400 piculs Hoaan I. have been sold at Tls. 1321, 135 and 1354 Shantung B; whole bolos at Tla. 41.
but the market is slack.
CANTON, 22nd September.-Export Re-reels.-- We hear of no fresh business in this class beyond a small sale of 5 Bales each Nos, 1. 2, Yee Wo Hing's White Ticket at $185. Filatures have given place to comparatively few transac- extent, remaining firm on an average of $20/30 tions. Reelers refuse to give way to any appreciable | per picul above the ideas of buyers, and being relieved from immediate pressure to sell by ad- vances obtained from exporters against a portion night include, Quan Wo On 9/11 and Miu King of their holdings. Sales made during the fort-
King Yuen and U Han Cheong 10/12 at $925, Mei Lon 11/13 at $950, King Seng 11/13 at $950, Po
Ho, 12/14 at $880. Wai King Wo 18/22 at $820. Lun Hing 10/12 at $316, Shun Kee and Kwong
In Native" filatures the demand has run entirely on full sizes, in which a fair business has bo been done at 770/735 for Best 36 Order 14/18, 18/22. Bon 3e 14/18 has sold at $755/750, Short- tions, and may be quoted slightly weaker at the reels. Have ruled dull with very small transac
$875/880 for Yu Wo Cheong, Man Po Cheng and close. Sales of about 100 Bales are rep rted at
dealt in. Waste Silk. Business has been almost equivalent; while higher grades have not been
entirely checked by the inflated conditia of prices in the interior. Native speculators practically control the stock, and subjoined quotations are as near as can be given in the present state of the market.
EXPORT OF SILK FROM CHINA AND JAPAN TO EUROPE.
F
Shanghai... Yokohama
++
The Customs Returns show a total export this season of 20,433,073 lbs.
HANKOW, 7th October.-The entire business to date as compared with the corresponding period of last year, is estimated as under :--
For London, America and
1903. i-chts.
1902.
-chts.
European Continent.. 194,632
147,103
For hussia
532,140
507,000
726,772
654,105
1902-3
hales.
1901-2 bales.
64,516
27,013
64,510
27,013
|
Benares New Benares Old
.$940 to
per picul.
.$08) to
do.
$1,040
to
do.
$1,080
to
do.
.$830
to
do.
.$840 to .$1,100
do.
to
per chest.
A
to
do.
$1,100
to
do.
to
do.
3 3 3 23
HONGKONG, 22nd October.—The movements in the opium markets have been as follows:
Halwa. Patus. Benares, Persian Stocks on 8th inst., 1903. 1,012 1,962 661 2,221 Oct. 9th Imports per Malla 341
184
12,
T
"
+
13,
11
15
300 100
Bangal 300 Lightning
-
15
1,002 117
2,267
762
2,420
103
230
West Coast Ports including Local Consumption for the fortnight..
243
721
164 610
Less Exports to East and Less Exports to Shanghai
Estimated Stocks this day 1,302 1,443 349 1,010'
Bengal. The market continues steady @ $1,100 for both Patna and Benares. Bargains 804 cheats. Malwa. The demand is on a small scale and prices have declined as follows :-
New 2/3 Years old 4/5
Oldest
$ 910
080
17
1,040 1,070
Persian. A fair amount of business has been done in good Square cakes @ $701/770, long cakes @ $810/810.
BEANS.
NEWCHWANG, 10th October. Mesars. Bandine & Co state-The new crop of Beans is said to be much larger than that of 1901 and 1902; and the quality of early arrivals leaves nothing to be dosired. Stocks are small-about 5,000 piculs old large supplies of new are expected between the and the same quantities new arrive daily; but
20th and 25th inst. Freights are dull but may improve next week when merchants are securing tonnage for the last two trips. Export prices are weak :-
Bean Cakes per 10 pieces Bean Oil per picul
Beans per 8 piculs, Old
12
"
New
....Tls. 7.90
7.40
..
"#
6.65
6.90
According to "olo Custom" the Chinese will beach most of their cargo-boats for the winter about the 23rd November, and it is not unlikely that there will be floating ice in harbour before the 30.h.
COAL.
Hongkong, 24th October.-The coal expected is 5,000 tons Welsh (for sale), 29,000 tons of
EXPORT OF SILK FROM CHINA & JAPAN Japanese (sold), and 3,000 tons of Hongkong
Shanghai Yokohama
1901-2
(sold). Arrivals since the 10th inst. have totalled 62,500 tons-all Japanese coal, with the exception of 4,000 tons of Hongdy. No sales of e importance are reported and the market is dull at l the following quotations
TO AMERICA.
1902-3
bales,
bales.
ai,911
41,396
51,911
44,396
Yubari Lump 12.00
Milki Lump.. 10.00
CAMPHOR.
Moji Lump... 6.50 to 10.00
ex-ship, woak.
Cardiff.........$19.50 to $21.00 ex-ship offering. Australian ... 11.00
sellers.
nominal.
Godown sales.
EXPORT OF TEA FROM CHINA TO UNITED KINGDOM AND CONTINENT.
1908-4 lbs.
1902-3 lbs.
HONGKONG, 23rd Oct›ber.-No arrivals.
SUGAR.
+
13
HONGKONG, 23rd October.-The position of the market is nearly the same as when last reported. Shekloong, No. 1, White......$8.60 to $8.65 pels.
Do.
2, Whits.. 7.60 to 7.65 Do. No. 1, Brovu. 6.00 to 0.05 Do.
2, Brown.... 5.75 to 5.80 Swatow, No. 1, White...... 8.45 to 8.50
7.55 to 5.80 to 2, Brown...... 5.65 to 5.70 .12.60 to 12.50 ....10,55 to 10.60
Shanghai.....
Amoy and Formosa
Foochow
Canton
Hankow
6,326,476 8,058,897
6,326,476
8,058,897
Do. Do.
**
2, White. 1, Brown...
Do.
15
EXPORT OF TEA FR M CHINA TO ODESSA.
1902 lbs.
1903 lbs.
Foochow Sugar Candy Shekloong
11
Shanghai and Hankpw ...34,233,540 29,221,123
EXPORT OF TEA FROM JAPAN TO UNITED STATES AND CANADA.
Yokohama
Hiogo
Hankow
1903-4
lbs.
RICE.
..
7.60 5.85
15
"
HONGKONG, 23rd October.-A further decline prices is reported, market continuing weak. Saigon, Ordinary
1902-3
Ibs.
19
5,526,231 4,180,871
Siam, Field mill cleaned, No. 2
5,526,231
4,180,371
Round, Good quality Long
自
Garden,
White.
Fine Cargo
No. 1
39
in
$2.95 to $3.00 4.70 to 4.75
4,95 to 5.00 3.50 to 3.55 .... 4.00 to 4.05
4.80 to 4.85
5.10 to 5.15
COTTON.
HONG KONG, 23rd Oct.-A limited business has been done. Unsold about 1,500 bales.
Bombay....
23.50 to 24.50 picul Bengal (New), Rangoon 23.50 to 26.00
and Dacca.... Shanghai and Japanese, 28.0 || to 29,00 Tungchow and Ningpo, 28.00 to 29.00
The
YARN.
A
..
Mr. P. Edujee says in his Report, dated Hong- kong, 23rd October:-The return of d mand appears to be as far off as ever and the market is going through a period of intense depression. Encouraged by a rising exchange, dealers are keeping entirely aloof, there being no enquiry whatever except for the small wants of the city. new business done during the interval comprises a few forced sales, and prices realised - cannot be accepted as a fair indication of the market, which may be called fully $2 lower. The only redeeming feature of the fortnight has been the large clearances of previous purchases, which, together with heavy exports to Shanghai, have ~ mainly contributed to relieve the market and hitherto have kept our stock within reasonable. limit. We again close quiet and depressed.ee
Local Manufacture:-The demand for locally spun thread is also very slack, and although prices are maintained no business is reported.
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