322
return to market towards the end of the month, when a fair demand is looked for. Meanwhile we close quiet but strong.
Local Manufacture :-There is no
business doing in local spun threads, and the mill is running short time.
Japanese Yarn:-A fair business has been done in these spinnings and settlements of about 400 bales No. 20s at from $183 to $136 have transpired, closing strong.
Raw Cotton:-An entirely blank fortnight has been experienced both in Indian and Chinese descriptions; extreme rates and scarcity pre- cluding business. When Mr. Sully's failure in America was aunounced last month, it was generally belived that the "bullish" element had come to an end and that prices would soon return to the normal level. But these expect ations have not been realized, simply because the dominating feature in the situation is not so much the manipulations of the American speculators as the economic fact that the world's sources of supply have not expanded in propor tion to the rapid progress of consumption. Un- sold stocks in Hongkong are estimated at 2,000 bales Indian and 500 Chinese. Quotations are Bengal $28 to $32, and Chinese $31 to $33.
Exchange on India, after some fluctuations, closed to-day at Rs. 132) for T/T and Rs. 132) for
Post
On Shanghai 72), and 871 on Yokohama. The undernoted business in imported and local yarns is reported from Shanghai during the fortnight ended 8th instant, viz :—
Indian Continued firmness of holders and short supplies have caused an advance of two Taels, especially in No. 10s, and the market closes firm. Settlements have been limited and ag- gregate 3,425 bales with an estimated unsold stock of 26,000 bales.
Japanese: A quiet but steady demand con- tinues, sales amounting to 1,800 bales, and prices showing a substantial advance, especially in No. 20s, say Tls. 90 to 95 for No. 16 Tls. 98 to 103 for No. 20s.
and
Local:-Business reported has not been large, total settlements aggregating 1,825 bales, say 475 bales No. 10s at Tis. Sú to 88 and 1,350 bales No. 148 at Tls. 87) to 821; clo-e firm.
MISCELLSANEOUS IMPORTS.
Messrs. Noel Murray & Co. in their Piece Goods Circular dated Shanghai, 14th April, 1904, state:- Further violent fluctuations in exchange have been in constant attendance on our market, their complexity being quite bewildering. The down- ward movement went on until 2s. 3d. was touched and remained steady at that for a couple of days, when a sudden reaction set in and rates bounded up a half penny at one jump. Since then the advance has continued assisted by stronger silver. The situation has been com- plicated by a want of unanimity amongst the banks, until neither buyers or sellers know exactly where they are. That any business at all was practicable speaks well for the strength of the market, the wet weather, which has somewhat restricted clearances, being to a great extent accountable for the few transactions reported. The home markets are to all intents and purposes unaffected by the decline in cotton, which is down a farthing for the week, the quotation for Mid. American coming yesterday 8.24d., while Egyptian, was 9d. According to mail advices manufacturers in Lancashire started in buying when Neill's reduced estimate of the crop was made known, except the makers for China exclusively, who felt compelled to shut down, and so far as we can hear, next to nothing has gone through since, With New York, however, it has been possible to connect, for during the interval purchases to the extent of about 8,000 bales drills have been booked there for this In face of the comparatively heavy stock of sheetings the relatively cheaper prices quoted have not attracted buyers, in fact importers have found it more advantageous to buy back from second hand holders here. The outside markets appear to be in quite a healthy position, and even Tientsin is now on- quiring for goods. Newchwang is in want of supplies, but shippers here dare not take the risk, meanwhile shipments of produce are coming down freely. Now the gunboats have left the port it is feared the entrance to the River will be mined and made altogether too dangerous for navigation. The Indian yarn trade appears to have come to a deadlock at the moment, the transactions during the week under review being quite the smallest on record this year.
market.
For
THE HONGKONG WEEKLY PRESS AND
"
one
Japanese spinning there is a good enquiry at! steady prices, but local yarns are barely 80 strong. The cotton market is quiet but steady at last week's quotations. The local newspapers have lately published a remarkable scheme pro- mulgated by Sir Robert Hart, K.G. in response, ap, arently, to a request made by - oine in high authority in Peking, who is evidently strongly in favour of reform. The main feature of it is to abolish all domestic taxes and "squeezes
as at present levied, and to raise a regular revenue by a uniform Land Tax through out the empire, which would enable a properly organised civil service to be established. all official, from Viceroys downwards to le on fixed salaries, liberal appropriations for a standing Army and Navy, for education and other necessary duties and such like revenue to be appropriated purposes of public utility. The present trade
for paying off the Indemnities and Foreign Lean, until such time as they are cleared off entirely, after which free trade could te established, as the amount estimated to be derived from the Land Tax would be more than ample for all requirements. The scheme is certainly most attractive, and accompanied as it is by simple. suggestions as to its inauguration, which it is calculated could be done throughout the eighteen Provinces within three years, looks at first sight perfectly feasible, and would create in this country a reformation even swifter than that of Japan. Another suggestion by the authority is also published, namely the establish. ment of a Government Registry of Trade Marks and Patents, which should meet with the approval of foreign importers, except that the fees look rather steep.
HONGKONG QUOTATIONS. HONGKONG, 22nd April.
Beans
Borax
Cassia (First quality)
same
$20.75 ( 21.25 $13.50 @ 15 $160
..$3.90
$174
Camphor (China)...
$165
(Formosa).
}
(Second Oil
.11
}
Cloves
Fennel Seed Oil
Galangle
$12 @ 59 $330 .$2.75 @ 6
Garlic
$-
.$26
$15
Glue
Grapes Ivory Kismiss Olibanum Rosa Oil Saltpetre. Sandal wood
Oil Senna Leaves..... Sugar Candy Vermilion Wax..
.8200 @ 650
.$11 @ 12
$5 @ 26
.$60 @ 175
.$10 65 $27 @ 29 $:00 @ 400 $2 @.4 $10 30 .$84 @ 86
$34 38.50
MISCELLANEOUS EXPORTS.
HANKOW, 13th April. - The prices quoted are for the net shipping weight excluding cost of packing for export :-
Per picul.
Tls. 34.00
IT
"
Cowhides, best selected
Do. seconds Buffalo hides, best selected Goatskins, untanned (chiefly white colour),, Buffalo Horns (average 3lbs. each) White China Grass (Wuchang and or
Poochi)
White China Grass (Sinshan and or
Chayu)
Green China Grass (Szechuen) Jute
White Vegetable Tallow (Kinchow) White Vegetable Tallow (Pingchew
and/or Macheng) White Vegetable Tallow (Mongyu) Green Vegetable Tallow (Kiyu)
Animal Tallow Gallnuts (usual shape) Do. (Plum) do. Tobacco, Tingchow Black Bristles
Feathers (Grey and/or White Duck)
Wild Duck
"
Turmeric Sesamum Seed Sesamum Seed Oil Vegetable Tallow Seed Oil Wood Oil, Tea Oil
"
29.00 21.00 58.00 9.70
[April 23, 1904.
Per M. M. steamer Salazie, sailed on 19th April. For Marseilles:-771 bales raw silk, 6 cases silk piece goods, 46 packages human hair, 58 cases cassia, 200 bales pierced cocoons, 199 rolle mat- ting, 2 cases ylang ylang oil, 22 packages sun- dries. For Lyons:-400 bales raw silk.
For Milan:-10 bales raw silk. For London :-1 casE documents.
Per steamer Hamburg, sailed on 13th April. For Colombo:-76 cases preserves. For Aden: 1,753 bags sugar, 202 cases cassia, 200 rolls china- ware, 25 bundles galangal. For Naples:-2 cases blackwood ware. For Genoa-280 bales raw silk. For Antwerp:----29 cases chinaware. For Antwerp and Hamburg-118 boxes bristles. For Amater- dam:-10 cases blackwood ware. For Amsterdam and Rotterdam:-50 cases cassia, 3 cases ginger. For Bremen:-47 rolls mats. For Bremen and Hamburg-140 bales feathers, 11 cases black- wood ware. oil, 73 bales mats, 14 cases blackwood ware, 6 cases For Hamburg-140 cases essential palm leaf fans, 4 cases chinaware, 3 cases curios, 3 cases feathers, 2 cases silk. For Hamburg and London:-40 cases essential oil. For London:--- 200 rolls mats, 4 cases chinaware. For Copen- hagen --200 cases cassia.
SHARE REPORT.
HONGKONG, 2nd April, 1904. - During the past week a good general enquiry has continned to prevail and a fair volume of business has been transacted in most of our principal stocks at ad- vancing rates.
BANKS.-Hongkong and Shanghais have ruled firm, and fair sales have been effected at the improved rate of $6574 at which a few more shares are obtainable. London has advanced to to £64. Nationals have continued in request, and sales have been booked at $36.
MARINE INSURANCES.-Unions continue in demand and $520 is now offered without attact- ing sellers, China Traders have sold and can still be placed at $60. Yangiszes are wanted at $135 and Cantons at the improved rate of $185.
FIRE INSURANCES.-Hongkongs have sold and are in further request at $290. Chinas have been booked at $83 and close with prol- able buyers at the rate.
SHIPPING.-Hongkong, Canton and Macaos have again bean booked at $284 and $29 and more shares are enquired for. Indo-Chinas advanced during the early part of the week to $97, but are somewhat easier at the close with selers at $96, buyers at $95. China and' Manilas continue on offer at $214. Douglases after sales at $35 and $36 are ecquired for at $36. Star Ferries have advanced and can now be placed at $32 and $20 for the old and new issues respectively. Shell Transports have sold at 22 and 22.6 and close steady.
REFINERIES-China Sugars have continued to advance, and after sales at from $123 to $128 are in further demand at the higher rate. Luzons continue neglected at $10 sellers.
MINING. No business is r ported under chis head. Raubs close weak with sellers at $6.
DOCKS, WHARVES, AND GODOWNS.-Hong- kong and Whampoa Dooks have firmed up and Dow close in request at $208 after sales at $206 and $207 for cash and the settlement. Hong. kong and Kowloon Wharves show a further advance, sales having been affected at from $96 to $100, the market closing steady at the latter- 10.30 rate. New Amoy Docks have receded to $321 11.70 sellers. Farnhams after local sales at Tls, 150 have receded in the North to Tls. 145 at which 10.80 rate, however there are buyers.
10.80
"
P
"
4.95
"
LANDS, HOTELS. AND BUILDINGS.-Hong- 9.50 kong Lands have sold at $147 and close some- what firmer with bayers at $148. Kowloon 11.00 Lands are unchanged at $351 West Points are 9.50 enquired for at $52. Hongkong Hotels con. 19.00 tinue steady with probable sellers at $132.
20.50 Humphrey's Fstates are in request at $10 and $13 for the old and new issues respectively. Shanghai Lands have improved in the North tols. 108.
11
17
严重
120.00
#
20.00
J7
21.75
3.20
4.75
7.95
"
"3
COTTON MILLS.—Quotations are unchanged, and no business is reported in this section.
MISCELLANEOUS.-Green
Island Cements
7.90 have been booked at $224, China Borneos have
7.90 improved to 881 buyers. Watsons have sold
1
6.50 and are in further request at $141. Electrics
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