C
426
COMMERCIAL.
SILK.
CANTON, 21st May, 1904. First crop.-As many Filatures have abstained from buying Cocoons, the export of 1st crop silk will be considerably reduced. Arrivals come in very slowly and in small quantities only. Nevertheless the cocoon market in the interior is still very firm, owing to the purchases made for the consumption of native; looms. Second crop.--Prospects for this crop are so far very favourable owing to the fine weather, but definite details on the yield will not come to band for another week. Filatures.-Business during the past fortnight has been very moderate, total transactions amounting to only about 400 Eales, composed chiefly of spot cargo. European buyers show little enthusiasm, though holders are ready to entertain reasonable concessions. From sales made we quote 1st crop silk: Wing Cheong Sing 11/13 at $865, Wing King Lun 11/13 at $780 Wing Wo Lun 13/15 at $765, Chun Sun Hang 16/18 at $640), Hing Lun 13/15-14/18 at $670. Short-reels.---Rule quiet at rather cheap rates, offers of 1st crop fail to attract much attention from American buyers. Waste silk.-Very little doing, prices exceedingly firm for old season stock, which is now practically nil.
SUGAR.
Hongkong, 3rd June.-There is no change in the position of the market as win last reported.
Shekloong, No. 1, White... $8.55 to $3.00 pels.
Do.
Swatow,
}}
2, White...... 7.65 to
770 1, Brown.. 6.00 to 6.05 2, Brown.. 5.90 to 6.95
Do.
Do.
+
No. 1, White....
Do.
17
Do.
Do.
2, White.... 1, Brown...... 5.85 to 2, Brown....
8.40 to 8.45 7.50 to 7.55 5.90 5.65 to 5.70 12.80 to 12.85 .10.90 to 10.95
Foochow Sugar Candy Shekloong
JA
RICE. HONGKONG, 3rd June.—The prices are the same as when last reported.
Saigon, Ordinary
Round, good quality Long
Siam, Field mill cleaned, No. 2
1
No. 1
Garden,
#
White,
E
Fine Cargo
OPIUM.
$2.65 to $2.70
3.85 to 3.90 3.95 to 4.00 2.75 to 2.80 3.20 to 3.25
4.23 to 4.30 4.40 to 4.45
Quotations are:-Allowance net to 1 catty.
31st May. to $1080 per pieul,
Malwa New
Malwa Old
.$1040 $1100
to $1140
do.
Malwa Older
$1200
to 1240
do.
Malwa V. Old
$1260
to 1280
do.
Persian fine quality
.$880 to
do.
Persian extra fine
Patna New
Patna Old
.$900 to $1260 to $1262} to $1225 to $1225 to
do.
per chest.
do.
do.
Benares New Benares Old
do.
THE HONGKONG WEEKLY PRESS AND
HONGKONG, 2nd June. The movements in our various Opium markets have been as follows:-
Malwa. Patna, Benares, Persian,
Spooks as per circular of
19th May, 1904.
.. 1,318 1,775 1,423 2,555 May. 19th Imports per Coromandel 151
24th 30th
#
+3
1
Kum Sang G. Apear
Less Exports to Shanghai Less Exports to East and` West Coast Ports including: Local Consumption for the fortnight..
Estimated Stocks this day
100 739 425
325 115
95
1,484 2,939 1,963 1,650
215 285
941 483 163 112
1,869) 2,241 1,515 2,538
Bengal,-Owing to the heavy decline in Ben- ares at the sale held yesterday the market is very unsettled and quotations are nominally $1,245 fr New Benares, $1,260 for Old Patna and $1,220
for Old Benares.
Malwa. The market is quiet but prices are steady.
New
2
years old
3
#
"
4-5
"
Oldest
$1,010/1,000 $1,080/1,100 $1,130/1,150
$1,230
$1,280
Parsian.There is no change to report.
COAL.
The arrivals of coal up to date at Hongkong have been 46,000 tons of Japanese coal and 7,000 tons of New Zealand coal, all sold ; and 22,500 tons of Japanese coal are expected to arrrive shortly.
COTTON. HONGKONG, 3rd June :-Small sales at last rates, closing quiet. Stock about 2.100 bales.
Bombay...
28.50 to 80.00 picul Bengal (New), Rangoon 28.50 to 32 00
and Dacca..
Shanghai and Japanese, 31.01 to 32.00 Tungchow and Ningpo, 31.00 to 32.00 Sale:-200 hales,
4
YARN.
Mr. Eduljee, in his report, dated Hongkong, May 6th, says-The demand mentioned in last has been report has been experienced, but characterised by extreme caution on the part of dealers, as the expected enquiry from the country had not reached the proportions anticipated. Settlements reported are consequently small and amount to about 5,000 hales, being confined almost- entirely to favourite chops, prices remaining with little alteration as those last given. Holders are firm and strengthened by telegraphic advices from Bombay, are not inclined to listen to the representations of dealers of a weak and declining market in the interior. Stocks are running unusually low, and the question of supply is giving dealers some concern, as what with restricted supplies and late heavy exports to Shanghai, very little is coming forward for sale, and they must shortly find it necessary to place further orders to meet the customary summer demand next month. Meanwhile the market closes quiet but steady.
mill is showing some improvement and sales of Local Manufacture: --Business with the local 750 bales No. 10s and 25 bales No. 12s at $114) tu $115 and $116 respectively are reported.
Japanese Yarn-Continues firm and prices steady, about 300 hales No. 20s changing hands at $1361 to $138.
Raw Cotton-Cotton is quieter under the altered condition of the market for the manufac- tured article, and no business is reported either in Indian or Chinese descriptions. Unsold stocks are estimated at 1,300 hales Bengal and 250 bales Thoongchow. Quotations are Indian $29 to $32 and Chinese $31 to $33.
Exchange on India after some slight fluctuations closes to-day at Rs. 1344 for TT and Rs. 1347 for Post. On Shanghai 71% and on Yokohama 881.
The undernoted business in imported and local yarn is reported from Shanghai during the fort- night ended 21st ultimo, viz:--
Indian-A good demand has continued espec- ially for No. 10a which are firmer, sales aggrega- ting 11.000 hales with an estimated unsold stock of 21,000 bales, market closing strong.
Japanese-Have met with an increased demand, but prices show little or no change. Sales during the interval amounting in the aggregate to fully 3,000 bales on the basis of Tls 931 to Tls. 991 for No. 168 and Tls. 99 to Tls. 102] for No. 208.
Local:-The new
business of the fortnight comprises only 200 bales No. 10s Shanghai Cotton Mill at Tls. 901.
MISCELLANEOUS IMPORTS.
(June 4, 1904.*
With the
vernors of Provinces commanding them to abolish the Likin Taxes from the first of the next China Year and to devise means of raising Revenue otherwise. The opinion here amongst Foreigners is that it will be exceedingly difficult to change.
advices Telegraphic
from Manchester this morning give quotations reflecting the drop in Cotton to some extent (the Liverpool price being 7.244 for Mid-American and 7 for Egyption), and though manufacturers of China inakes are undoubtedly anxious to get orders, and are not at all strong, the market there is hardly likely to come down to the level of this while the good Indian demand continues. According to the Board of Trade returns the shipment of Grey and Bleached Cottons to Hongkong and China for the three months ending 31st march last was 115,058,800 yards, against 112,118,100 yards last year, and 105,000,000 yards according to the It is interesting to private monthly advices. note that while the increase in quantity is rather less than three per cent. the increase in sterling value is over twenty-one per cent: The ship- ments of Prints are over 33 per cent. less in. quantity but only 22 per cent, less in value. In the case of Dyed goods, however, the position looks decidedly dangerous, the quantity for the three months showing an increase of 33 per cent. while the cost is 94 per cent. more! serious decline in Egyption Cotton holders of these goods have just cause for alarm. There is little or no news from the States where the market seems to be easing off a little. Cotton in only 10.910 cents for October. New York was quoted 12.42 cents for August, but As regards the new crop, to quote from the American Wool and Cotton Roporter:-"The phenomenally high prices obtained for last season's crop will act as a powerful stimulant to production; and unless weather conditions should prove more unfavour- able than is at all likely, in all probability a crop that will eclipse the great crop of 1898-1899 will he made. Cotton has proved such a bonanza for the grower the past season that the temptation to plant to the full extent of acreage that can be cultivated will be too much for the grower to resist. The world's demand for cotton calls for a larger crop than the south produced last year, at least 750,000 to a million hales in order to supply the needs of manufacturers and make good the shortage of the Even with a crop of 12,000,000 present seasons. bales it would no more than leave the market in The grower then a good healthful position. would be able to command a good price for his cotton and at the same time he would prevent speculators from cornering the market and allow the Manufacturer to carry on his business at a profit. Besides this it is to the advantage of Southern growers to convince European Manufac- turers of their ability to supply a crop of Cotton large enough for their wants and at prices that would not he practically almost prohibitive. There has been a very strong feeling aroused among Foreign manufacturers regarding the Cotton situation this season, and it is to the obvious interest of the South to pursue such a course as will placate this feeling. cannot supply them with Cotton at the fair price and in sufficient amount they will look elsewhere for it, and in the course of time will raise up competitors to contest with the South its present supremacy in supplying the world with the staple." The Yarn market here is strong, but the higher prices wanted for imported Yarns has A brisk demand continues in curtailed business. Bombay where prices are three to four taels over As old contracts with the Local Mills are this. running out, fresh ones being entered into, the sales reported this week amounting to nearly 5,000 bales. The market for Cotton is steady.
In their Report on the Shanghai Piece Goods Trade, Messrs. Noel, Murray & Co., under date 26th May, say --After all the reported evacuation of Newchwang by the Russian troops has turned out to be incorrect, although they did withdraw the greater part at one time. The news of the disaster to the Japanese fleet, however, was made the ex- cuse for the reoccupation in force, and things there in consequence remain in statu quo. Some ship- ments of miscellaneous goods have been made, hut nothing further in the way of Piece Goods and Yarn. It is momentarily expected that news of some great fight will come in, and seeing that it | will in all probability have a very important bear- ing on the final issue, it is awaited with consider- able anxiety. This being Whit week, when our Manchester friends observe a more or less close holiday, it was not in the nature of things that there should be much doing here, nor has there been in the aggregate, though one or two of the fairly large holders are beginning to persuade themselves that it is useless to wait any longer to get replacing cost for their goods, knowing full wall that if there is a decline of any importance in Manchester buyers here will immediately lower their offers. In consequence some sales of Man- chester makes are reported to have been effected at prices that show very satisfactory results, but are still considerably under present home cost. There is without doubt a good demand in the country, but it is being filled to a great extent by the sec- and hand holders, whose supplies must become exhausted before long, and even now there is more ; enquiry. Clearances usually show a falling off at this particular season of the year as compared with March and April, but so far have kept up very well.
An important edict has been issued by the Peking Government to the Viceroys and Go-
If the South
HONGKONG QUOTATIONS. HONGKONG, 3rd June.
Beans
Borax
Camphor (China).. Cassia (First quality)
(Second Oil
Cloves Fennel Seed Oil Galangle Glue Grapes Ivory Kismiss
Olibanum
Rosa Oil Saltpetre. Sandal wood
$4
$161
$105
.$21 @ 22
$16 @ 17
$157,
$20 @ 55 $330
$2.70
6
$26
.$16
$200 @ 600
..$10 @ 13
.$5 @ 20
$60 @ 175
$10.10 @ 10.85
.$:7 @ 30
$:00
Oil
$4
Senna Leaves...... Sugar Candy Vermilion
400
.$10.10 @ 10,30 .$821 @ 85}
$34
381
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