262
COMMERCIAL..
The Kobe Market Report, published under the direction of the Kobe Foreign Board of Trade, and dated (Kobe) Hiogo, 2nd April, 1907, has the following:-
IMPORTS.
+1
Cotton.-American.--Prices have not fluctuated much since our last report, Middling being still quoted in the neighbourhood of Yen 35.25 for "forward." Spot is nominal, and closes at Yen 34.50. Indian. Business has remained quiet and dull, some "forward transactions of special qualities, however, are reported. This dullness is perhaps due to the fact that spinners are hesitating to buy on account of the heavy decline of yarn, and the absence of "forward sales. Spot remains nominal. Quotations at the close are:-Broach best, Yen 29; Yeathmal, Yen 24.50; Akola Khamguam, Yen 23.50; Bengal Yen 20.75. Chinese-Quotations have declined in sympathy with Exchange. Business has been small in both "forward " and "spot" owing to the weak tendency of the Yarn market. Best quality, Yen 28.50; Medium, Yen 24; Common, Yen 25.50. Shirtings.-Remain dull. Cotton Goods and Fancies -Owing to the depressed condition of this market and the firm attitude of Home manufacturers there has scarcely been any business done. Worsteds and Woollens. Deliveries are fair but practically no new business doing. Prospects for Autumn bad. Metals. A small business has been done but there is still a considerable difference between Home prices and what dealers here are willing to pay. Sugar Beet. Nothing of importance to report in the absence of business. Cane.-Refined
No business to report. Raw.A few small transactions in Formosa Sugars have taken place. Javas have been inquired for. Osaka Refined.— 3,700 bags changed hands at the auction held at Osala on the 27th March, the higher grades at an advance of 10 sen on previous prices, the lower at a decline of 15 sen per picul." Rice.-Market quiet, but steady.
EXPORTS.
one
or
two
Fish Oil.-Market remains unchanged. Copper. -Market quite unsettled on account of fall of prices in the London Market. No reliable quotations obtainable.
Rice. Quiet, very little export doing. Cotton Yarn. Market quiet with lower prices. Vegetable Wax. - Present market very uncertain, hundred cases reported to have changed hands, but this is difficult to get confirmed. Matting. Prices have remained unchanged in spite of the keen competition there has been for supplies. "Jab " 180 Cotton Warp Niwase Mattings are finding eager buyers at Yen 7.70. Straw Braid. -A further advance in prices has been recorded during the past fortnight owing to the large number of orders which continued to reach this market, and quotations generally ruled high with upward tendency. Chip Braid.—A good demand obtained for certain descriptions, but higher prices have greatly restricted new business.
COAL.
Messrs. Hughes and Hough, in their Coal Report of 18th April, state that 18 steamers are expected at Hongkong with a total of 68,700
April 5th
tons of coal. Since
21 steamers have arrived with a total of 71,800 tons of coal. There has been no enquiry for Cardiff. For Aus- tralian there has been a small enquiry, but owing to the high price asked no business is reported. Japanese coal is offering freely and the prices are weaker, and no business beyond small resales are reported. Uther kinds neglected. I Quotations:-
Cardiff.
.$1400 to 15,00 ex-ship, nominal. Australian .$11.00 to $12.00 ex-ship, nominal. Yubari Lump...$12.00 nominal, Miiki Lump ..$10.00 nominal.
Moji Lump. $8.00 to $8.00 ex-ship, steady. Moji Unscreened$6.00 to $7,00 ex-ship, steady. Akaike Lump...$7.75 to $8.50 steady, Bengal..... .89.00 to $9.50 nominal.
YARN.
Mr. P. Eduljee in his report, dated Hong- kong, 5th April, states:-A moderate enquiry has continued throughout the past fortnight, and a fairly large business has been done on the basis of late sales; but at the close, buyers having satisfied their requirements and having in view the rising tendency in exchange, are holding off for lower prices. The demand has been general
簍
THE HONGKONG WEEKLY PRESS AND
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[April 20, 1907
and almost all counts have been dealt in, Nos. 108 Manchuria, and the complete evacuation by the re- and 208 forming the bulk of the settlements, and cent belligerents is continually being delayed. It showing little or no fluctuations. Receipts dur- seems that they have both made up their minds ing the interval are large, and have exceeded the that the terms of the Treaty they signed were never off-takes, stocks showing a small increase on last meant to be kept. The Chinese Government is estimate. Bombay ig reported reak with finding the greatest difficulty in regaining posses- spinners pressing for orders. The short-time sion of her own, and the trade of Newchwang movement alluded to in last report has, by latest remain › dormant. There are constant reports of advices. fallen through owing to want, of this and that administration being handed over unanimity amongst millowners. Considering or transferred, without mentioning from whom, the many and varied interests involved this or to whom, until one can only form at the bast was generally expected, and should create a very confused idea of the position of things no surprise but in view of the prevailing | in Mànchuria. "lientain and i hefoo merchants depression in the Far Eastern market: this have bought a little in the way of cheap goods absence of unanimity amongst Bombay spinners which will compare very well with those the is greatly to be regretted, as the free working | former are receiving direct. Shipments are ini- of the mills will soon inundate us with goods far proving to both these Ports, while Kiaochow beyond all possible requirements and aggravate continues to take a fair supply. The River the situation. Sales of the interval aggregate markets are doing a fair amount of trade, but 6,395 hales, arrivals amount to 11,622, upgold the recent episode in Hankow is causing great stock estimated at 72,000, and sold but uncleared caution to be used. The export figures to the lower stock at 33,000 bales. Local Manufacture:- No Yangtze Ports are distinctly looking up, while business is reported. Japanese Yarn:-Continues Ninggo is taking her fate quota. Notwithstand- in request, and about 375 bales No. 208 are ing the pessimistic reports concerning Corea a reported sold at $127 to $136. Raw Cotton :--
glance at the figu es to date of the three Demand has almost subsided and the only busi-leading staples shows that the trade so far is ness of the fortnight comprises the single sale of not at all unpromising, and the steady con- 50 hales superfine New Bengals at $21. Nothing tinuity of the shipments does not look as doing in China kinds. Stocks estimated at 1150 though the demand there was very depressed. bales Indian, and 509 bales China. Quotations A steamer is now on the berth to clear on 18th are Beugals $17 to $21 and China $22] to $24. instant, it will be interesting to see what she Exchange on India has rallied during the interval takes. The Manchester market is quiet but in sympathy with silver and closes to-day steady strong, with but little enquity from China buyers. at Rs. 1561 for T/T and Rs 156} for Post. On
The latest spot quotation for Mid. American in Shanghai 721 and on Japan 1031. The undernot- | Liverpool was 6 07d. while the price of “futures" ed business in imported and local spinnings is is 37d. Egyptian remains at 104d,
We can reported from Shanghai during the fortnight hear of no advices from New York either of the ended the 13th instant, viz:- Indian :--Despite market for domestics or cotton. The yarn a moderate demand the eagerness of holders to market hero is fairly steady, prices if any. realize has had the effect of slightly weakening thing being lower than they were when the the market. Total sales about 5,000 bales with remittance rate WAS some 5 to f per cont. an estimated stock of unsold and uncleared yarn more favorable. Local spinnings are rather of 165,000 bales, market closing waek. Japanese: firmer, probably owing to the curtailed production. -Rather quiet, sales amounting to only 1.200 Native Cotton is still strongly held and prices are bales on the basis of Tls, 86 to 93 for No. 18s, and quite firm. Grey Shirtings.At the Auctions Tla. 95 to 100 for No. 208. Local:-No sales from this week a firmer tendency is noticeable for all first hands are reported,
weights, though the improvement is not very regular. White Shirtings.-For the ordinary reed goods the auction this morning showed a decidedly firmer feeling, but the heavier makes did not participate in the improvement. Irishes and bleached T-Cloths were also firmer.—Drills has been some business doing amongst second and Sheetings.-In American makes entirely there
hand holders for Tientsin and Chefoo. In Drills w hear Pepperella changed handa as low as Tis. In +10, subsequently recovering to Tl«. 4 20. Sheetings there was a fair enquiry for 3 and 3j yard makes, the Settlements being estimated at
PIECE-GOODS.
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about 3,000 bales for Tientsin and 2,000 bales fʊr Chefoo, at about the same price.
The following is the weekly Piece Goods Raport of Mesar, Ilbert & Co., dated Shanghai, April 12th, 1907. - Our market remains extremely quiet, but clearances of former purchases are continuing upon a steady scale, so that with the smaller shipments coming forward the position here should show gradual improvement, the exports of plain cottons from the United Kingdom being, for the first quarter of this year, 30 per cent. less than in 1906 and 10 per cent. less than in 1903. Exchange has temporarily settled down to a basis of a little over 2/10, but up to the present no commensurate with the corresponding rise increased laying-down cost of sterling-bought goods has become apparent, the country ma kots not responding to the higher basis of values which native holders have been endeavouring to establish.
Messrs. Noel, Murray & Co's Report ou the Shanghai Piece Goods Trade, dated Shanghai, 11th April, 1907, states:-We have to thank Mr. Theodore H. Prics of New York for his very in- teresting pamphlets of 26th and 28th February concerning the Cotton Crop of America, and, sa he writes thoughtful students of commercial phenomena cannot fail to be profoundly impressed by the history of the cotton market during the past ten or eleven years.' He points out that whereas the crop in 1895-6 was 7,147,000 bales and sold at an average of about 74 cents per pound, this season's crop is between 13 and 14 million bales at an average of probably 101 conta It would be as well for this problem per pound. to receive the earnest study and attention of all interested in this trade as showing the tremen- dous possibilities with which it is surrounded. Importers are fairly weary of waiting for the im- provement in our market which never comes, and holders generally are showing a considerable amount of anxiety. This promises to be more accentuated now the native money market is commencing to advance after a long spell of extraordinary easine-s. It has greatly assisted the dealers to pay outstanding accounts and so continue to carry their goods comfort bly, but the stringency that will le caused by the reduction of the local stock of sycee that is now going on Lost curtail their power to hold as they have been doing, and must inevitably give to the Sheetings has been somewhat unsteadied by the In American goods the market for merchants in the consuming districts the oppor-realization of some large stocks by two weak tunity they have waited for so long, namely, to
native holders, but on the whole the outlook is get goods at their own prices. Already it has
somewhat better owing to a better demand from commenced, apparently, and although ther· is an
both the Shantung and Chili provinces, which it attempt to withhold the information as much as possible some fairly large sales have been inadə
is to be hoped will improve the volume of from second hands to Tientsin and Chefoo mer-
1
clearances before the market is rendered dull again by the usual planting-out seasou for crops chants. The basis on which the transactions
that is a prosching. Bombay yarn is a dragging *re reported to have been made is most disapmarket, but the tone as regards Tientsin shows pointing in face of the decline in exchange, and
rather more encouragement, gives very poor promise for the future of our market, especially if holders are forced to show any haste in getting rid of their stocks. So far American goods are those chiefly affected, but the whole market must eventually be involved Even now there is a distinctly uneasy feeling as regards Manchester staple makes and clearances are falling off. On the other hand the only direct business that is current, namely, the suctions, show a distinctly firmer tone this week for the majority of goods. There is a great deal of uncertainty regarding the progress of events in
MISCELLANEOUS EXPORTS.
Per M. M. Co.'s na. Polynesien, sailed on the 16th April, 1907. For Marseilles: -96 bales raw wilk, 330 bales waste silk, 11 cases silk piece goods. 29 pkgos human hair, 15 cases feathers, 32 casos provisions, 7 cases private effects. For Lrons:- 120 b les raw silk, 1 bales waste silk. For London ---1 box ten.
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