Page
July 13, 1907.Į
Such monopolies would
prevent other dealers from participating in the opium trade thus destroying the healthy competition and thereby crippling the business and causing heavy losses to importers who will be at the meroy of the few who hold the monopolies, as regards prices, etc.
It would also be greatly prejudicial to the interest of the Indian Government if anch a scheme is permitted to be enforced especially in the present unsettled and unsatisfactory state of the opium trade, owing to the actioa of the Chinese Government.
Government in closing up the public smoking dens, and importers, in view of the further uncertainty of demand from those who would hold the monopoly, would curtail importation, which would mean a material reduction of their purchases from the Government of India's monthly sales.
oppose
We therefore beg to request you to be goed enough to take immediate action and the movement and, if necessary, to communicate with H.B.M's Minister at Peking, as it is in contravention of Article X of the treaty of Nanking of 1842 which provides that British merchandise having paid the regulated Customs and dues such merchandise may be conveyed by Chinese merchants to any province or city in the empire of China.
The said monopoly, if granted, would there. fore be tantamant to placing restrictions Chinese merchants in general.
оп
We may add that we are afraid, if the .monopoly is given that the Chinese Officials may push the consumption of native opium to the detriment of foreign drug.
We remain, Sir,
Your most obedient servants, DAVID SASSOon & Co., LD. E. D. SA820on & Co. E. PABANEY. CAWASJER PALLANJEE & Co. S. J. DAVID & Co.
TATA & Co.
A. EBRAHIM K CÓ
D. E. J. ABRAHAM.
P. B. PETIT & Co. TALATI & Co. AND OTHERS.
COMMERCIAL.
TEA.
CHINA OVERLAND TRADE REPORT.
OPIUM
HONGKONG, July 11th.
Quotations are:-Allowance net to 1 catty.
$800 to per picul. $830
Malwa New*** Malwa Old
to
do.
3860
to
do.
$920
to
do.
to
$650
to
do. do.
$833
to
to
$830 to
do.
to
Malwa Older Malwa Very Old Persian Fine Quality ..8600 Persian Extra Fine Patna New Patna Old Benares Ner Benares Old
do.
do.
COAL.
Report of 12th July, state that 24 steamers Messrs. Hughes and Hough, in their Coal are expected at Hongkong with a total of 83,800 tons of coal. Since have arrived with a total of 72,856 tons of coal.
June 27th, 20 ateamers | Cardiff-neglected. Small sales have been made of Australian at $12 ex-ship. Japanese-sales of 5,000 tons are reported, terms private, Market generally dull.
Quotations:--
Cardiff.
Australian
PIECE GOODS.
25
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade. dated Shanghai, 4th July, 1907, has the following:-The opening of the Chinese Custom House at Dalny on the 1st instant is duly announced, with the additional information that the Chinese flag now flies above it and in many cases duty has been paid for transportation northwards. That is a step in the per chest. right direction, and supplements a letter published here this morning from the leading foreign firms in Newchwang, but bearing no date, pointing out the disabilities which the port has been suffering ever since the war, and adds that "if the recent arrangements between H.E. Baron Goto and the mercantile representatives of the Fort be strictly adhered to it should go a long way towards the resuscitation of the port, restore it to its former position amongst the treaty ports of China; and, if the Tairen customs are really to be inaugurated on the 1st proximo it is not unreasonable to hope for a
new era of prosperity for the port." letter then animadverts on the very poor support The received from the foreign banks in assisting to reinstate the trade of the port, and instances the case of one which is chiefly engaged in trying to collect old outstandings instead of fresh loans. Then there is a complaint of the establishment of and so long as that continues so long will there unauthorised likin barriers, which deters exports, be a stultification of that branch of trade. At a subsequent interview with the Taotai, however, that official could only promise to look into the matler, and now that the Custom House at Dalny glory will return to Newchwang. From the Tien- is an accomplished fiet no doubt some of the old
first place rain is badly needed and all the praying tsin district the newa is not so satisfactory, In the energies of the mandarinate have been requistioned by the Emperor. But the most pressing trouble is the effect of the curtailment of credit by the foreign banks. It has evidently struck right home, good and hard, so much so that it may be neces sary to make some temporary modifications to relieve the severe pressure that is being felt there. It is announced from Peking that several more inland towns and cities in Manchuria are to by throwns open to foreign trade, but the right of residence is reserved for the present. The Man- chester market is at
a standtill owing to the advance in cotton, which comes to-day 7.42d. for Mid-Americ in spot. **Futures
were quoted
$14,00 to 15.00 ex-ship, nominal, $11.50 to $12.00 ex-ship, nominal, Yubari Lump...$12.00 nominal Miki Lump ...310.00 nominal. Moji Lump......80.00 to $8.00 ex-ship, steady, Moji Unscreened$6.00 to $7,50 ex-ship, steady. Akaike Lump...87.75 to 88.00.steady. Labuan Lump $8.00 nominal.
RAW COTTON.
HONGKONG, 15th June.-Good business put through. Stock about 1,400 bales.
Bombay...
$17.50 to $20.50 per pel.
20.50 to 22.00
Bengal (New), Rangoon
and Dacca Shanghai and Japanese 25.00 to 26,00 Tungchor and Ningpo... 25.00 to
Reported sales, 700 bales.
YARN.
26.00
total
Mr. P. Eduljee, in his Report dated Hong- kong, 12th July, states:-As advised in last report the large purchases of Indian Yarn made by continental buyers in Bombay have reacted very beneficially on our market here, and we have now to report an extensive business at an advance of $1 to $7 per hale. Nos. 10s and 12s have attracted by far the greatest amount of attention, participating largely in the improvement, and
6.8 d. at the same time as spot was 7,22d. This comprising nearly three-fourths of the
seems to have effected Egyptian also, to-day's settlements. Although values have appreciated quotation being 10d. From New York the latest considerably they are still much below replacing advices give 12.28 rents for October and 12.36 cost. Supplies are running down, and if ship- cents for January option." We have heard of ments are maintained on their present scale higher prices being wanted there for goods but importers will have a chance of working off old cannot get them confirmed, holdings which have been unsaleable for many
The Export of Plain Cottons from Lancashire last'month was 19,000,000 months. Stocks are by no means ercessive, and yards to Hongkong and China, There is certainly HANKOW, 3rd July, 1907-Business reported sidered within very narrow limits. On the whole, improving,,
after allowing for unsaleable goods, wust be con-
much more life in the market and clearances are Freh business from stock, that is considering the season of the your, the paucity from first hands, is naturally limited, as very few of yarn in the interior, limited shipwent and firms have stocks of their own decreasing stocks, prospects ahead appear encour-carrying large quantities for native
to sell, though aging.
Those that are in the position have met with considerable enquiry and have responded to a discrepancy between the prices current to here and moderate extent, their reserve being due the great the cost of replacing. It is difficult to give, or even to glean, particulars, writing now, f ¦ of Manchester goods, but the eman seems to be chiefly for good 10-lb. Shirtings, of which a fair quantity appears to have heeu entled. Shirtings have also met with some attention, and White consignees have taken the opportunity of disposing of some of the ensignments Manchester has si considerately thrust on a congested market.
since the 26th ulto., is as under:---
Settlements
1907.
-Chests. 7,017
1906. -Chests.
9,060
The following are Statistics at date compared with the corresponding circular of last season viz., 4th July, 1906.
Stock
HANKOW TEA.
1907.
-Chests.
Settlements
Arrivals
KIUKIANG TEA,
...369,294 12,047
...381,341
1907. -Chests.
Settlements Stock
Arrivals
.169,470 15,962
... 185,432
SILK.
1906. J-Chests. 29.071 81,487
372,538
1906. -Chests. 118,192 13,790
162.222
CANTON, 12th June, 1907.-Settlements of Silk. The Silk Market was fairly active at the beginning of the fortnight, but at the close it is dull with a strong downward tendency for Europe and America, Holders appear to have lost all con- fidence in face of the future lar.o crops, and are anxious to sell; therefore we expect a heavy fall in prices. The Wa-te Market is irregular and fluctuating in Canton, though in the country the prices are still well held. Dealers do not seem disposed to make such large concessions as for Raw Silk now. Stock of Silk in Canton: 1,800 bales,
Sales of the interval aggregate 13,782 bale, 45,000, and sold but uncleared goods in second arrivals amount to 5,135. stocks estimated at
hands 41,000 bales.
Local Manufacture:--After some interval there has been a little movement in these threads, and sales of 515 bales of No. 10s at from $83 to $8] are reported.
Japanese Yarn:-A quiet but steady business is being done in these spinnings, and sales of the interval include 270 bales No. 16x at from $115 to $121, and 490 bales No. 20s at $122 to $129.
Raw Cotton:-The market is lifeless and despite the violent fluctuations on the other side, and easy sellers here, no offer whatever both in India and China descriptions can be induced. Stocks estimated at 1,690 bales Indian, and 56) bales China. Quotatious are $16 to $20 Bengals, and
21 to $24 China.
Exchange on India, after some fluctuations, closes unsteady to-day at Rs. 1631 for TT and Rs. 103 for Post. On Shanghai 73 and on Japan 107. The undernoted business in imported and local fortnight ended 6th instant, viz:- spinnings is reported from Shanghai during the
Indian:-There has been a strong demand for No. 10s and 20s and sales to the extent of 13.00 Fales are reported, prices showing an advance of 1 to 3 Taels and market closing very firm. Estimated stock 145,000 b ‹les.
Japanese-There has been an easier feeling in these threads owing to large stock, and sales reported are 1,700 bales on the basis of Tls. 854 to 90 for No 162, and Tls 91 to 97 for No. 2 18.
Local:-After a long interval the e has been some movement in t ese spinnings and 500 bales No. 16s Blue Dragon are reported sold at Tis 61.
|
account.
course
Messrs. Ilbert & Co.'s Piecs Good+ Report dated Shanghai, July 4th, 1907, states:-Business during the week has continued upon an activo footing, the greater majority of sales, however, being still inter-native transations, but the volume of clearances from stock is improving steadily, and prices for English staple goods are at length responding in a marked degree to the higher basis necessary for replacement, although in nearly every instance there is still a wide margin yet to be bridged before fresh transactions can throughout and have purchased freely from be consummated. The Yangtze markots are firm
existent stocks of common Shirtings, also medium qualities
10 and 12-lb. Shirting, and Hankow merchants have bought or White
so ne BUJ rases of low quality Fist Black Italians fr m stuck. Bombay strengthened all round owing to Tientsin and Yarns also bare Newchwang buyers having come into the market, an 1 prices show an improvement of about Ts. ? all round för 20s and 168, whilst 10s and 12s also have advance-l about a tael to a tael and a half. In American goods Newchwang buyers have at
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