283
Powers as to reforming the currency system, if i can be so called, now pertaining, is what Foreign traders of all nationalities should urge on their Governments, and until that is accomplished it is impossible to expect trade relations with China to he anything but unsatisfactory. It is some satis- faction to record that during the week telegrams have been received announcing that the negotia- tions going on for some time past now, between some of the European powers and Japan, respecting the recognition of trade marks in China, registered in their respective countries, are approaching a satisfactory conclusion. If that is done the registration of trade marks in China itself would he superfluous and thus one bone of contention would be disposed of. The question of over production in the Japanese Cotton Mills has been the subject of discussion there during the inter- val, and it is understood that an agreement has been come to amongst the Mills that they will either stop night work for three months, within the half your commencing from 1st May, or curtail their production by 27 per cent, during that period, at their option, which should have å beneficial effect on the market during the next
is
three dull months. That is a much more legiti mate and business-like way of dealing with the present glut in the market. After animadverting on the market as above it is curious to turn tà the particulars of this morning's Auction and fini thit the results as compared with last week look almost as though a suiden boom had set in! Moreover we understand clearances of these regular Auction purchases are going on quite satisfactorily. Weather con litions are improving and we do not hear of any complaints respecting the crops. There is no particular news from the Out Ports, but Newchwang is still doing a little in American goods and Yarn, in the former, however. entirely from second hands, Tientsin is very quiet. It is rumoured that some of the stock of fancy gools there which were imported direct are being re-exported for sale on this market. Clearances for both the coast and river ports wight be a good deal better. The excess of Deliveries over Imports in the last two Reports very noticeable, and makes quite an appreciable diminution in the stocks. The weakness of the Manchester market is so apparent that operators here think it advisable to hold off for the present and see what it will go to if left alone. There is nothing to support it, the demand from India being almost as bad as that from China. Mean- while Cotton is falling away, although the public quotations seem scarcely reliable. A fall to 5.38d. for Mid American and then an advance the next day to 5.52d, with the remark that the market was dull certainly looks as though the former quota- tion might have been misstated for 5.53d! Egyp- tian is down an eighth to d However, Liverpool appears to be ab.re New York where the latest quotations are 8.66 cents for both July and October. The January export to China was about the same as the corresponding month last year, namely 1,558,173 yards, according to the United States Monthly Summary of Trade. The local Yarn market is steady to firm and clearances are not unsatisfactory. The quotations for native Cotton are higher, which confirms the report that buying for Japan has commenced again.
MISCELLANEOUS EXPORTS.
#
THE HONGKONG WEEKLY PRESS AND
¦
Per P. & O. steamer Tera, sailed on 25th April, 19.8:- For Antwerp: --
For 10 bales hemp. Manchester:-25 bales waste silk, For Mar- seilles:-4 cases human hair. For London to For Continent :- 175 packages merchandise. London:-30 cases camphor. 24 hales feathers, 1364 bales hemp, 15 i bales waste silk, 933 rolls matting, 96 cases chinaware, 42 cases woodware,
150 casks preserves, 40 bales canes, 1 package rattan chairs, 1 case siks, 32 cases private effects curis, 19 packages empty cylinders,
Per M. M. steamer Armand Bohic, sailed on 28th April, 1908; --For Mars ille:-206 halles soiu, 50 halles dichets de soie, 3 caisses series, 47 colis cheveux. 30 cais-es phues. For Buenas Ayres: - caisses soieries, For Londres :—20 balles soie. For Lyon:-318 bales soies. For Diego Suarez : -- 31 colis provisions. For Tamatave:-17 colis provisions. For Genoa:-50 balles dichets de soie. For Zanzibar:-1 caisse curios and
For Marseille: -31 caisses Ilang lang, 5 caisses argenterie. For Barcelone :-3 caisses soieries, chapeaux, 2 caisses cigares.
THE JAPAN TRADE,
From the Report of the Yokohama Foregin Board of Trade dated April 15th:-
Cotton Yarns.-No business whatever to report, lower all round. Values of "gassel" ar nominally Y. 30 per bale attributed to heavy stocks in dealers hands and The present depression is
to the low price of Raw Silk,
Cotton Piece Goods. Buyers have completely withdrawn, and are awaiting a further decline in Manchester.
Woollen and Woollen Mixtures.-Th market is quiet. Stocks are very heavy and deliveries slow.
Textiles Generally.-The market in all classes is utterly stagnant. There seems to be a slight hardening in the price of raw material, which, however, is still cheap compared with last year's ralues.
Raw Cotton.--No business to report. Rice. No change.
Metals. The market remains quiet and only
small contracts are being hooked.
Win low Glass.—Little or no business doing. Kerosene Oil-Arrivals and deliveries for the first half of April show Standard Oil Co.: Arrivals 100.000 case, deliveries 13,500; Rising Sun Petroleum Co.: arrivals nil; deliveries 19,000
cases.
Sugar.-Prices have advanced slightly since last report, but business is still dull.
Flour. Since last report the market has been a little more active. A slight decline has taken place in prices in America.
Wheat. The market still remains dull.
SILK.
Raw Silk-On the 6th inst. price for No. 1-14 Shinshu Filatures fell to Y. 820, at which figure a fair business was done principally by European and Japanese exporters, whilst Americans still held aloof. Owing to this business holdersjare at
the close somewhat firmer, and a slight advance
demand.
in prices was anticipated.
Waste.-Since last report there has been more HANKOW, 15th April, 1903. The prices quoted aste have not been large, prices are slightly Though transactions in good class are for the net shipping weight excluding cost of packing for export:
firmer. Settlements from March 30th to April 12th, 3,500 piculs. Total Settlements from July 1st to April 12th, 26,903 piculs. Stock on April 13th is estimated at 13,000 piculs.
Cowhides, Best selected
Do. Seconds
Buffalo hides, Best selected
Per picul .Tls. 29.00
رو
وو
26.00 22,00
7.50
10.00
11.00
Goatskins, untanned, chiefly white
colour,
Buffalo Horns, average 3 fs, each
White China Grass, Wuchang andjor
Poochi....
"
WhiteChinaGrass, Sinshan and or Chayu Green China Grass, Szechuen
10,75
11
Jute...
White Vegetable Tallow, Kinchow
12
White Vegetable Tallow, Pingchew
and/or Macheng
Green Vegetable Tallow, Kiyu......
Animal Tallow
"
3)
"
10.50 14.50 17.00
"
>
"}
5.50
"?
8.3)
22
White Vegetable Tallow, Mongyu
Gallnuts, usual shape
Gallnuts, plum
do.
Tobacco, Tingchow
Turmeric
Sesamum Seed
Tobacco, Wongkong.
Sesamum Seed Oil
Hea Oil
Wood Oil....
Habutai. Prices for Kaga have continued with a downward tendency, though at the time of writing a slight reaction is taking place. The demand from America has been most unimport ant, and the same may be said of the other markets. Prices for Echizen have not udergone much change since the commencement of the month, except for inferior goods which find very few buyers. There has been a demand for 36 inch goods from Europe, but nothing has been done for America. The efforts of the Foreign
Piece Goods Association to improve the quality of the production from this district has already had a good effect as slight improvement has been shown.
Prices at the last market for Kawamata show lower rates than previously, but there appears to have been very little business doing
at all.
TEA,
The first samples of the new season's Teas have been shown in Yokohama, and show good quality. Total settlements at Yokohamna from May 1st to April 14th amount to 101,839 piculs, against 101,309 piculs at the corresponding date last year.
[May 2, 1908
SHARE REPORTE.
HONGKONG, 1st May, 1908. A fairly steady investment business has been transacted during the past week, and our market closes with a firmer tendency in most stocks. Barsilver has fallen to 24,d, and sterling exchange has declined in sympathy to 1/91 T.T. The T.T. rate on Shanghai has continued steady, and without change at 744.
are
.
BANKS.-Hongkong and Shanghais have ruled firmer with fair sales at $6924, and but few shares now available at the rate. London continues to quote £73 103. Od. Nationals are without business, but are still enquired for at $51.
MARINE INSURANCES.-No business is re- ported in this section, and rates are practically without change.
FIRE INSURANCES.-Chinas have been booked at the improved rate of $91, and are in further request. Hongkongs are still enquired for at $310, but no shares appear to be available at the rate
SHIPPING. Hongkong, Canton and Macaos have been booked at $29, and more shares can be placed at this figure; few shares, however, are to be obtained under $294. Indo Chinas are also firmer at $38 and $24 for the Preferred and Deferred combined after sales at the rate. China and Manilas and Douglases are procurable at $16 and $40 respectively, and Star Ferries at $32 for the old, and 818 new. Shell Transports have been booked at 45s. and close steady,
REFINERIES. China Sugars have ruled steady at $135 with sales, and close with a firmer tendency. There is no change to report in Luzons which remain at $15,
MINING.-A further advance has been esta- hlished in Charbonnages, for which $560 is now off red. Raubs are firm with buyers at 881.
DOCKS, WHARVES AND GODOWNS.-Hong- kong and Whampoa Docks have been booked at $103 and $104, and close with buyers at the former rate. Hongkong and Kowloon Wharves have ruled steady with sales at $52, and
probable further buyers. New Amoy Docks continue in request at 894, and Shanghai Dooks at the improved rate of Tis. 82. Shang. hai and Hongkew Wharves are slightly easier with sellers in the north at Tls. 223.
LANDS, HOTELS AND BUILDINGS. —Hong-
kong Lands have again been booked at $99, and Kowloon Lands at $26. Humphreys' Estates with buyers at $10. We have heard of no busi have been booked at $10 and $101, and close ness in West Points or Hongkong Hotels, which can still be procured at quotations. Shanghai Lands are unaltered at Tls, 114.
COTTON MILLS.
Ewos have improved in theorth to Tls. 58, but other Shanghai stocks are unchanged and without business. Hongkong Cottons continue in request at $10, and it is probable that a higher rate would be paid.
MISCELLANEOUS.-China Borneos have been placed at $103. and China Providents at 88.90 and $9, the latter closing with bayers. Sales have also been effected of Dairy Farms at $191, Electrics at $16§, and Watsons at $10 and $101. Green Island Cements have ruled firm and sales are reported at $10 and $10 ex the final divide id of 75 cents per share for 1917. paid on the 27th ultimo, market closing with buyers at $103. Ioes have sold and have further sellers at $225. Ropes have been fixed at the im proved rate of $33 at which the market closes steady. United Asbestos are wanted at $13 and Peak Trams at $13 and $2 for the old and new issues respectively.
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