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28th-Annual meeting Douglas Steamship Co -Corinthien Yacht Club Water Polo dinner. 30th-Annual meeting Farsee Cricket Club. 31st Annual meeting Hongkong Cricket Club.-Annual meeting Royal Hongkong Yacht Club.
OCTOBER.
1st -Jubilee issue of the Hongkong Daily Press. Society wedding-Captain Taylor, A.U.C., and Miss Brackenbury.
5th-Last meeting of Gymkhaus Club. 9th-Lord Li, Chinese Ambassador to Great
Britain, entertained at Government House by H.E. the Governor.
10th-Mrs. May's concert at City Hall in aid
of the Seamen's Mission. 12th-Smoking concert at Phoenix Club.- Scretary Taft entertained.-Concert at Catholic Union-First appearance of the improved riosha,-Hongkong shoot off in interport shooting match, which was later won by Shanghai.--Aunual meeting William Powell, Ld." Rob Roy at the Kowloon Docks.
14th-Court Martial re stranding of H.M.S. Flora: Captain Nugent severely reprimanded and cautioned, and Lieut. Mackenzie Grieve reprimanded. Annual meeting Dairy Farm ~Co., Ld.-Volunteers Concert.-Lady Lugard
entertains leading Chinese residents. 15th Baxter Schools annual sale of work. 16th-Installation of officers Naval and Military
Royal Arch Chapter.
17th Annual meeting Hongkong Corinthian
Yacht Club.
18th-Wu Ting-fang, Chinese Minister to Washington, entertained by his countrymen at Shektontsal.
19th-Volunteers go into camp at Stopcenitors. 21st-Adset's trial opens at Supreme Court. 23rd-dsetts found guilty and sentenced to
death.
25th-Anonal meeting Canton Insurance Office. 29th-Anual distribution of prizes by ..
the Governor at the Italian Convent. 21st-Annual bazaar Ministering Children's
League.
NOVEMBER.
4
1st-Jubilee of Chung Ngoi Sun Pu (Chinese
Daily Press). Srd-Japanese in Hongkong celebrate their
Emperor's birthday. 4th-Scottish Masonic Quadrill Association's
opening dance. 5th-Annual Licensing Sessions-Boxing
entertainment at City Hall. 7th-Highway robbery at the Peak; Mrs. L.
Gibbs attacked by a Chinese. 9th-King's birthday review at Happy Valley.-
Dinner at Government House in the evening. 10th-Corin bin Yacht Club's opening cruise. 11th Birthday ball at Government House. 13th-Execution of Ads: tts, who confessed prior
to death.
14th-Chrysanthemum Show in the public gardens. Shanghai Cricketers arrive in Hongkong.
16th-Opening day Interport cricket match. 17th-Second club race Royal H ngkong Yacht
Club.
19th-Hongkong win interport cricket match.
Masonic concert at City Hall. 20th-Interport tennis matobes won by Shang-
hai.
23rd - Enthronement of Biabop Lauder. 25th-Annual meeting Amateur Athletic
Association
27th-Wedding at St. John's Cathedral, Hope-
Hooper.
29th-St. Andrew's Ball at the City Hall.
LECEMBER,
1st-Death of M18. Mitol ell-Taylor. 3rd-Union Church sale of work at Volunteer
Headquarters.
5h-pening day of Chinese Carnival, 11th-French Convent Bazaar.- Death of Mr. MacGregor Sa ith, a Hongkong pioneer. Interes ing Supreme Court argument as to the rights of the Attorney-General. 12th-Hongkong Club defeat the German Club in the annual bowling match.- Bandmano Comedy Co, at Theatre Royal.
14th Mr. W. Russell wins Kowloon Bowling Cub's Championship prize, Mr. J. Punobe on the President's priz; and Mr. T. Petrie the Vice-President's prize.
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THE HONGKONG WEEKLY PRESS AND
(January 6, 1908, 17th Strange disapp arance of Sergeant Dukes from August to November, and ultimately the RG.A.. who arrived at Hongkong by the failure of all but four of the fifteen yarn dealing there has been a very transport Cecilia.
hongs. During 190 18th-Philharmonic Concert at City Hall - material falling off in receipts, and with the Presentation to Sergeant Major Stevenson, exception of a few spasmodic efforts at briskness, R.E, at Volunteer Headquarters.
prices not only failed to respond to the enhan- 21st-Pollard's Lilliputians at Thea're Royal.ced cost at Bom' ay, but more or less steadi y 22nd-Third Club race R. H.K.Y.C. 24th-Annual Police Ball at City Hall.
1907: A BUSINESS REVIEW. ¦ large importers consequent on reduced exports
A general retrospect of the trado year is made in the leading article. Below we give sundry returns auder special headings, which haveleen collected from authoritativa sources.
IXCHANOR,
There is nothing more interesting to the Hongkong resident than the fluctuations of exchange, which affect all, tho sterling paid man as well as the man paid in local currency. The rise and fall in the value of the dullar is watched with the interest of a nurss following the temperature chart of a feverish patient. The leading article refers to the way it has affeo'ed business generally. A specialist informs u as follows:- At the beginning of 1907 our dollar was worth 2/3 5/16, but yesterday it had an exchange value of only 1 94, The main resson for the decline of silver we must attribute to the reports of famine it. Iedia, and the consequent reluctance of the Government there to add more to their already large stock A reliable circular gives the total shipments of silver from London to Indi in 19, 6 as £15,2 5,396. Up to No. vember of the year mentioned they were worth £13,940,26 while to November of 1907 they reached £10,133, 04. Another reason of the decline was the financial crisis in Americs and the consequent difficulties in all commercial centres.
( n
The year opened with a T.T. rate of 2,3 3,16, silver standing at 31 38, which gradually dropped until the Chin se New Year when the 1.T. rate stood at 2.. } and the pries of silver at 313. The rate remained steady at this quota- tion outil about the middle of March, from which date it fell, slauding on April 5th at 20 78. Then an upward movement commenord, rates gradually but steady rising with con- staut fluctuation, until 23 Was touched August 3 d. Then there was a gradual decline during August and September until October 8th, when the rate quoted was 2,2. The ra- maining days of October si rat-s tumbling away. In November again they fell to a lower range, and were still declining to December 5th, when 2; vani hed. The mouth of Decem. ber was one of rapid decline, for on the 23rd we find the dollar quoted at 1.94, and silver at 241. Latest quotations appear elsewhere, ic their usual pl: ce.
RAW COTTON,
For some years past the trade in Indiau raw cotton has been gradually dwindling. Owing to the large influx of the lower conuts of Indian spinnings, and their comparative cheapness, the natives in the interior find it more profitable to purchase the ready made artiole than to inv. st
in the dearer raw material and waste time and
money in spinning it. What litle Indian cotton goes into the constey is used for the most part in mixing with the indi,enous product for quilting and padding purposes.
We give below the sales of Indian colton in the local market during the last seven years.
1991
1902
19 3
1904
1905
19 6
19 7
YARN.
6065 bales
17548
9447
4483
9 07
420 5643
**
The last twelve months may bi pronounced one of the worst yarn import years the Colony has experienced, and while there was a falling off of nearly 55 per cent, in rec-ipts, there was an increase in consumption of over 59 par cent. Imports to Hongkong amanted tổ 116,395 bales as against 269,869 bales in 1996, while sales aggregate | 137,648 bales as against 8.818 bales. This increase in the year's sales is not surprising when we take into e nsideration the
drawbacks for the latter balf of the former
years, as the poor condition of the country mad, local markets, the entire assstion of business
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declined, and there is little doubt ibat they would have ruled lower were it not for a certain steadiness on the part of some
from India and frequent assistance from Shanghai. It was seldom that the dema.d afforded importers opportunity for regulating selling rates with costs, the dealers mostly c nfining their small and dragging purchases to actual requir neuts Tightness of money, lo-s of credit in native circles & insed by the heavy failures of 1916, the general disorganisation of trade in the Southern Provinces of China and the decline in exchange are the causes for the depression of imports during the year, which oped with a quotation of $81.-3 for best No. 10 yarn, the price ruling at the close
being $91.93. The exchange in India for the same periods stood at the beginning of the year at Re. 167 and at the end at 18. 133. Daring the period under review orders have been sufficient to keep most mills running from 12 to 13 hours a day. At the end of June there were in all India 224 mills working and in con 8; cf er ction, running 5,333,275 spildt-s and 58,436 looms, emp aying on an average 205,690 baude daily. Of thisse 224 mills Bombay Istand alone claims 85, ruusing 2,613,433 spindles and 31.882 looms, and employing on ад average about 1000 hands daily. Feais were entertained about this time of 8 serious relapse consequent of the prevalent depression of the trade throughout the world. But the opportune boom in American cotton dis- pelled them and there was an i flux of orders from Manchester and Europe. Then a cou- siderable quality of superior grades of No. 108, and 204, lying u glected in the local market were reshipped to Bombay, where Europesa bayers purchased them at a large advance on the prices ruling locally. The year closed with & lttle better inquiry in the local market, bat only small sales are reported, dealers having cast their offers far too low to lead to any general busine ‹s.
PIECE GOOD',
Business has been anything but good, taking the trade 85 a whole, for although at certain seasons there has been a good demand for a parti-nlar class of goods, there has be-n a lack of that steady consump ion
and conseq"out enquiry for the more staple artioles. On the surface there seems to have been little reason for such a quiet state of affairs. Stocks in Hougkong have been ligh', ourrency prices, owing to a favourable exchange, have been com. pa atively low notwithstanding the hi,h rates at home, and thiri have b en uo circumstances of any special nature to restrict dinaud from the country. That there has been little demand is therefore hard to
the understand, but absence of it has led to the d al rs buying from hand to mouth, lacking as they did any encour. rgement to buy in quantity for future delivery. This, and restricted credits from the astive banks, have altogether cheek.d much of the ура
culation which had been going on, and leavOE the trade in a much Lealthier position to deal with real demand when it does arise as it is to be hoped it will do soon. Grey and White Goods have been the reatest suñere:s from the depression. Farcies have been enquired for more, but demand has generally been for spot cargo, and orders have been as a rul- difficult to obtain.
CASSIA.
The demand for this commodity has been fairly good during the year and the total exports so far are estimated at from 411,000 to 45,00 picula of Cassia, whole sad broken. Though many of the transactions in this article nowadays are dɔue on a speculative basis both by the Chinese dealers and foreigu exporters, prices remained fairly steady throughout the season, and beyond a goneral complaint of shipments frequently arriving at their destination short of weight, the Cair trade in 1907 -hows hardly any special feature, with the exception perhaps that the quality standard has again bon lowered, and has now arrived on such a low level that it almost
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