262
COMMERCIAL.
COAL.
Messrs. Hughes and Hough, in their Coal Report of 18th October, state that 17 steamers are expected at Hongkong with a total of 68,100 tons of coal. Since October 4th 14 steamers have arrived with a total of 40,800 tons of coal. Only small business is reported in Japanese- rates unchanged. Other kinds neglected. Quotations:-
Cardiff......
.$14.00 to 15.00 ex-ship, nominal. Australian $11.50 to $12.00 ex-ship, nominal. Yubari Lump...$12.00 nominal Miiki Lump
...$10.00 nominal.
Moji Lump......$6.50 to $8.50 ex-ship, steady. Moji Unscreened$6.00 to $7.50 ex-ship, steady. Akaike Lump...$8.00 to $8.25 steady. Labuan Lump $8.25 nominal.
OPIUM.
per picul.
Quotations are:-
Malwa New
.$840
HONGKONG, October 17th. Allowance net to 1 catty.
to
Malwa Old
.$880
to
do.
Malwa Older
.$920
to
do.
Malwa Very Old
$940
to
do.
Persian Fine Quality ..$700
to
do.
Persian Extra Fine ...$750
to
Patna New
.$907!
to
Patna Old
$8971 to .$870
do.
to
do.
to
Benares New Benares Old
YARN.
do. per chest.
do.
Mr. P. Eduljee, in his Report dated Hongkong 18th October, 1907, states :-The firmness assumed by holders, mentioned in our last report, was not of long duration, as shortly after the departure of the mail, a disposition was shown to again meet dealers, and during the past fortnight fairly large sales were effected at an advance of $1 to $3 per bale.
Subsequently, owing to the incessant and heavy decline in exchange, and the reluct- ance of buyers to meet holders in their demand for a farther advance, stocks were entirely with- drawn from the market, and business at the close is at a complete standstill. The absence of large orders from the country and the consequent low range of prices ruling here for some time past, make all results far from satisfactory, while trade generally has been entirely unsettled through the vagaries of exchange. Receipts during the interval are comparatively large and have exceeded the off-takes, stocks showing a substan- tial increase ou last figures. Sales of the fortnight aggregate 5,923, bales, arrivals amount to 11.277 bales, unsold stock estimated at 41,000 and sold but uncleared yarn in second bands about 22,000 bales. Local Manufactures :-- Continue quiet. Japanese Yarn :-Demand con- tinues and sales of 315 bales No, 208 at $128 are reported. Raw Cotton :-The market for Indian descriptions has been very quiet in sympathy with the dullness of the manufactured article, and no business is reported. Importations are trifling and of the limited stock in godowns 570 bales were exported to Kobe during the interval. In China kinds 270 small bales Shanghai are reported sold at $25. Stocks : Indian 690, and Chinese 488 bales. Quotations are Indian $19 to 22, and Chinese $22 to 26. Exchange on India has incessantly declined during the fortnight and shows, a loss of nearly 12 points on last mail, closing weak to-day at Rs. 1531 for T/T and Bs. 154 for Post. On Shanghai 731 and on Japan 1001. The undernoted business in imported and local spinnings is reported from Shanghai during the week ended the 15th instant, viz:-Indian:- Market quiet, the ideas of both buyers and sellers being too wide apart to lead to much business. Total sales about 2,100 bales with an estimated stock of 100,000 bales. Japanese-Total sales about 1,000 bales at somewhat easier prices, say No. 168 at Tls. 821 to Tls. 871, and No. 208, at Tls. 90 to Tls. 93. Local:-The Mills do not seem inclined to enter into any new business.
PIECE GOODS.
Messrs. Noel, Murray & Co.'s Report on the Shanghai Piece Goods Trade, dated Shanghai, 10th October, 1907, states:-The collapse of the home silver market is having a very disturbing effect on the already depressed state of trade here, and when it is remembered that a large, in fact the greater, proportion of the stocks are being carried in sterling, it makes the position decidedly more unpleasant than it was before. The drop in the white metal is attributed to the partial failure of the Indian orope, cotton to the extent of 50 per
THE HONGKONG WEEKLY PRESS AND
We
cent. and even more in the case of some of the more important seed crops. For some little time past this has been expected to eventuate, but the effect on gold exchange in this part of the world feeling in many quarters is that the movement is was not, apparently, anticipated. Even now the only temporary, possibly an artificial depression of the market preparatory to renewed buying operations. However that may be, it has not contrary, they seem determined to hold off and stirred the dealers here into activity; on the
await developments, withdrawing oven the offers made previous to the decline in exchange. Ás regards clearances, they have been varied, but are certainly not universally satisfactory. It has transpired during the interval that the order from Newchwang to stop buying goods here was actually a misunderstanding, the telegrams being intended to refer to one particular line of goods con. cerning which there was some misconception. It is probably as well, for we understand that all the goods that were sent up have not yet been worked off, but according to latest advices Sheet- ings are firmer and Yarn up a tael and a half. understand an order for 700 bales 3-yard Drills has been placed direct with Osaka. Tientsin is puzzling the dealers here. They cannot make out if the demand there is being supplied by direct shipments or is actually moribund in most classes of goods. The off-take from here has been very poor recently. Hankow happily continues to take fair quantities of everything, and the nearer Yangtsze Ports and Ningpo are absorbing average supplies, while Chefoo and Kiaochow, the former especially, are doing bravely. Even Vladivo- stock shows more respectable figures in the returns this week, and Aden is credited with the third ship ment of American Sheetings. The Manchestor market, though still possessed of considerable strength, is about four peace down from the early part of September, but it is not very active, though acceptable to make up for the probable falling off there are signs that business from this would he in the demand for India. The report that the recent decline in Cotton in the United States was due to financial stringency in the money market, has been confirmed by written advices. The quantity ginned to date is certainly le ss than the average of former years, bat it looks doubtful HOW whether the scheme to nurse
the market by holding back sup- plies, with the aid of the Southern bankers, will come to anything, prices for forward 'option' in New York keeping very low, namely 11.13 cents for December, and 11.08 cents for January. The Liverpool spot price for Mid. American is 6.6-id., "futures" 6.20d, and Egyptian 10d for spot. The Yarn market is quiet, buyers being very slow in recognising the more favourable exchange prevailing. With the altered conditions financial- ly prevailing in Cores the fall in exchange militates against business with that country. Nativo Cotton is steadier in consequence of a better export demand for Japan. Almost the entire business of the week has been confined to the auctions. We have heard of a few cases of White Shirtings being sold from stock at about Tls. 3.85 to Tls. 3.95, the replacing cost being about Tls. 4.30, but except in retail quantities on about the same basis there is nothing doing worth mentioning. For early arrival some 6,000 pieces 8.4 lbs. Shirtings are just reported. At auction prices have ruled somewhat irregularly, though perhaps slightly better on the average, but not sufficient to counteract the lower exchange, 7-lb. Shirtings were steady to three candareens lower, 8.4 lbs. from a decline of 8 candareens to an advance of as much at the sale yesterday, but to-day the range was from minus 3 to plus 5 candareens. In Heavy Shirtings the proportion was in favour of the sellers, while 12 lbs. 36-inch went at steady prices to four candareens up. In White Shirtings the tendency was higher through- out, some chops advancing upwards of a mace. Irishes were alightly weaker, but Bleached T-Cloths firmer. 32-inch grey T-Cloths were irregular, but 36-inch advanced 2 candareens this morning. Jeans went at firmer prices. Turkey Reds with few exceptions are weak and in some cases much lower. Fast Black Cotton Italians on the whole showed a firmer tendency this morning, some chops advancing two mace. Woollens. These have improved somewhat at auction, but there seems to be no consistency about prices. Drills and Sheetings.-We have not heard of any- thing doing from first hands, but in some quarters clearances have shown an improvement. understand that Prepperell Drills, which were hanging fire at Tla. 4.10, have changed hands at Tls. 4.45. Cotton Yarn.-Indian.-The continued decline in sterling rates during the interval has put everything at sixes and sevens, operators showing little disposition to pay up the differences which holders are naturally asking.
We
[October 19, 1907
From Messrs. Ilbert & Co.'s weekly report, dated Shanghai 10th October, 1097-Owing to the severe collapse in exchange, business during the week has been at a standstill, neither buyers nor sellers caring to grapple with a situation which has had such an unstable basis from one day to the next as has been the case in the interval. Clearances have been somewhat impeded by rain, but have progressed at a fair rate, and although for Hankow they have fallen off owing to stringency of the money market in that outlet, the off-take for other centres has counter-balanced
this. There are slight indications of a better inquiry emanating from the Tientsin market this week, and although the only sign as yet is in a trifling inquiry for White Shirtings and 31-yard American Sheetings it is hopeful to see any spark of demand from a market which has been crushed for so long past by the weight of its over-supplies. Grey Shirtings
81-lb.
-
The decline in exchange has given a slighly firmer tone to prices though the absence of demand prevents an advance of any magnitude. T.-Cloths. We have to report a blank week. Auctions steady on the whole. Jeans.-A sale of English make under Elephant chop at Tls. 2.90, is all that we have heard of. A firm tone ruled White Shirtings.-Inquiry is very at auction. dormant and only a few retail purchases have been made. Drills.-American makes are quiet but steady, a little business having been brought to book at about last prices. The tone of the market for English Drills is fairly firm as a result of comparatively short stocks, though there is very little inquiry noticeable, Sheetings.— There is nothing of interest to report under this head besides a few re-sales made to Tientsin. Dyed and Fancy Cottons.-Old stocks of Figured Cotton Lastings and Fast Blacks are reported to be moving off at figures that leave a smart loss to the sellers. Worsteds and Woollons.- Dealers have filled their requirements at the auctions Cotton,-Local
where all Woollens were easier.
cotton underwent no change during the first part of the week under review, but during the last few days prices have been advanced about 2 inace for most qualities as a result of the spell of bad weather.
MISCELLANEOUS EXPORTS.
HANKOW, 10th October, 1907.-The prices quoted are for the net shipping weight excluding cost of packing for export:-
Cowhides, Best Selected..
Do. Seconds
Buffalo Hides, Best Selected.
Goatskins, untanned, chiefly white
colour
Buffalo Horns, average 3 lbs. each White China Grass, Wuchang and/or
Poochi.
WhiteChina Grass, Sinshan and/orChayu 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 Gallnuts, plum
do.
Tobacco, Tingchow Tobacco, Wongkong
Turmeric Sesamum Seed Sesamum Seed Oil Wood Oil
Tea Oil
Per picul. Tls. 34.00
31.00
**
22.50
$3
11
J
ور
10.80
"
8.80
19
4.30
""
10.40
J
"
**
10.80
+
10.50
"
14.50
17.80
19
**
**
5.30
8,80
For steamier Gosben, sailed on 10th October. 1907. For Port said:-11 cases chinaware. For
Cases
Genoa-338 bales raw silk, 200 cases cassia, 50 bales wast silk, 8 cases chinaware, 4 cases champ- horwood trunss. For Antwerp:-100 pkgɛ. tea, 10 bales leaf tobacco, 10 cases bristles, 9 cases chinaware, 6 cases cigars, 1 cases silk. For Amsterdam:-75 cases preserves, 4 cases cigars. For Botterdam :--200 pkgs. tea, 175 preserves, 15 casks preserves, 6 cases tea sticks, 9 cases ginger. For Bremen-132 cares preservES, 87 rolls matting, 33 cases blackwoodwase, 28 balas feathers, 10 bales leaf tobacco, 6 caks preserves, hemp, 68 cases bristles, 50 casks ginger, 43 bales For Hamburg:-160 cases preserves, 100 bales
feathers, 49 cases blackwoodware, 12 cases china- ware, 10 cases curios, 6 cases finger, 4 casos paper, 1 case silk. For Copenhagen -—-8 cases preserVOR, For London :-6 casos cigars,
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