Page
May 16, 1908.]
CORRESPONDENCF.
THE CHINA ASSOCIATION AND THE OPIUM QUESTION.
[TO THE EDITOR OF THE $4
DAILY PRESS."]
China Association, Hongkong, 11th May. DEAR SIR.-It may interest your randers to know that as result of a Committee meeting held on Friday afternoon, the following telegram was despatched on Saturday to the China Association in L ndon regarding the closure of opium houses in Hongkong :-
'Press telegram states British Government. announced in House of Commons intention issue immediately order Hongkong Government close opium houses forthwith. This would impose considerable financial hardship as owing to opium farmers contract does not expire until February 1910, it would apparently involve payment large compensation in addition prospective loss revenue. Unfair dislocate Colony's fiance 80 suddenly. Urge you represent need proceeding less drastically time required gradual ro-adjustment burden taxı. tion."
I am, Dear Sir,-Yours faithfully,
ALEX, S. D. COUSLAND.
Hou. Secretary.
MORE ABOUT OPIUM.
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The drastic resolution of the Imperial Parliament on the subject of the opiam question is now the topic of general interest in the Colony and speculation is rife as to what steps the Government will take in dealing with the financial problem which now confronts it.
On May 12th we learned that the Government had appro.ched the Opium Farmer with a view to ascertaining the relations between the Farmer and the keepers of the opium divang and how these would be affected by the change which must now take place. Compensation will be considered, no doubt, and the books regard. ing the sales will afford reliable information necessary for arriving at a fair settlement of the claims of those who will lose their means of livelihood by the closing of these houses.
While many people here may be in favour of the policy of the Imperial government there are few who support the precipitate procedars by which it is sought to suppress the indulgence in this narcotie. Its effect on the finances of the Colony is deplored and its dislocation of trade is regretted.
AT THE MAG ST ACY,
On May 12th a Chinaman was fined $55 at the Magistracy for selling opium within the Colony. The Opium Farmer sells opium at a cheaper rate in the New Territory than in Hongkong in order to reduc) smuggling from China. By this means smuggling of opium is rendered almost uaremunerative, The defendant in this case had bought a number of the small jars of opium which are sold at 35 cents in Hongkong but at 20 in the New Territory and he came over to Hongkong and sold them at 28 cents. His enterprise was stopped and, in default of payment of the $55, he went to prison for one month.
•
INTERESTING to MARINERS. H.M.8. Waterwitch after days' search has located this shoal to be in latitude N. 7 deg. 17 min. 5 sec.; longitude E. (of Greenwich), 106 deg. 51 min, 18 sec.
An examinination revealed the fact that it is a narrow ridge of coral formation about 2 miles long in an East and West direction, and 4 cables wide in a North and South direction within the 2 fathom line; and 51 cables long in an East and West direction and 2 cable wide in North and South directions within the 10 fathom line.
A least depth of 5 fathoms Coral was found nearly in the centre of the 10 fathom area This shoal was not marked by any discoloura- tion of the water nor by overfalls or smooths The astronomical position given is for this shoalest spot.
This notica affeo's Admirally charts Nos, 2660A and 1263.
China Sea Directory Vol. 2, 5th edition, 1906, pages 109 and 117.
CHINA OVERLAND TRADE REPORT.
IMPORTS.
COMMERCIAL.
CAMPHOR,
HONGKONG, 16th May, 1908: -From Formosa 190 to $92 a picul.
SUGAR.
HONGKONG, 16th May, 1908:-There have been no arrivals for a long time from the places named below, the prices of the sugar sent from Java, Manila, etc., being much cheaper.
f hekloong, No. 1, White......
Do.
2, White. Stekloong, No. 1, Brown....
+
Do. Snatow,
Do. Do. Do. Foochow Sugar Candy. Shekloong
to
pcl.
25
J
21
2, Browa.
tö
No. 1, White...
to
33
1, White....
tå
1, Brown...
td
11
2, Brown.
td
"
to
"
tor
RICE.
11
HONGKONG, 16th May, 1908-Large arrivals have been reported and prices liave slightly declined,
Saigon, Ordinary
"
Round, Good quality Long...
.$1.00 to $4.40
5.00 to 5,25 to
Siam, Field mill cleaned, No. 2... 3.80 to
No. 1 4.40
15
Gardon,
White,
13
15
5.20 5.50
4.00
4.15
to 4.80 to 6.00 5.10 to 5.20
Fine Cargo
YOKOHAMA 30th April.-The Burmah market remains unchanged, but Saigon has seen arise of about ten sen perpicul, with a continued tendency in the same direction. The quotation for Rangoon Rice may be taken at V. 5.05 per picul, and Saigon Y. 4.45 per picul, c.i.f.
Malwa New
Quotations are:-
Malwa Old Malwa Older Jalwa Very Old Persian Fine Quality Persian Extra Fine Patna New
Patna Old
Benares New Benares Old
OPIUM.
HONGKONG, May 14th.
COAL.
per picul.
.$9 $1
do. $1030 do.
.$1070 do.
..$800
do.
do.
.$$80
$110 per chest.
do.
$1155
do. do.
HONGKONG, May 15th.-The arrivals since, the 2nd amounted to 31,120 tons of Japanese; 5,450 Australian; 4,80) longay, and 2,270 tons from Tsingtau. About 10,000 tons were consigned to The coal expected is 401,100 tons of Jap in coal Canton Japanese coal has sold at quotations. and 3,500 Australian. Quotations, according to follows:- Messrs. Hughes and Hough's circular are as
Quotations are as follows:- Cardiff.
to $ ex-ship, nominal Australian
$13.60 ex-ship, sellers. Yubari Lump...$12.00 ex ship, nominal. Miki Lump...$10.50 to $11.00 ex-ship, nominal. Moji Lump......$6.50 to $9.00 ex-ship, steady. Moji Unscreened$6.00 to $8.00 ex-ship, steady, Akaike Lump...$8.75 to $9.00 steady. Labuan Lump $9.23 ex-ship sellers.
YARN.
HONGKONG--Mr. P. Eduljee, in his Report dated 15th May, states:-Our-parket has further done during the fortnight, as noted at foot. advanced and again a large business has been
Dealers, after holding off for a considerable time, now purchasing freely. There is more inclination appear to have accepted the situation and are
to buy for price, and consequently most attention is being paid to medium and inferior spinnings to the neglect of favourite superior tickets. Values have appreciated $1 to $3 per bale, and considering the depletion of stocks, both in first and second hands, a low and weak exchange, and restricted supplies, the aspect of the market at Bombay is reported weak with little doing; the the close points to a continuance of the advance. home demand having greatly subsided owing to the cloud of famine once more hanging over the lived because, it is stated, the mills would not or country, and the enquiry for Europe was abort-
could not produce yarn of the quality and strength
319
required for those markets, Sales during the interval aggregate 7,505 bales; arrivals amount to 9,700 bales; unsold stock estimated at 18,000; and sold but uncleared bales in second hands at 21,000 pales. Local Manufacture:-No business is reported. Japanese Yarn-Continues quiet and weak. Raw Cotton:-Indian staple is very dull with a trifling off-take, and China kinds are entirely neglected The business of the interval comprises the sale of 2 small parcels of superfine Bengals aggregating 120 balcs, at $22, and $22. Estimated unsold stocks, 4,000 bales Indian and 500 Chinese. Quotations are $19 to $22 Indian, and $21 to $23 China, Exchange on India has fluctuated slightly and closes weak to-day at Rs. 132 for T/T, and Rs. 1331 for Post. On Shanghai 741 and on Japan 861.. The undernoted business in imported and local spinnings is reported from Shanghai during the fortnight ended the 2nd instant, viz:- Indian :-In moderate enquiry, prices remaining with little alteration as those last given. Total sales about 4,000 bales and stocks jestimated at 52.000 bales. Japanese:- A quiat but steady business had continued in these threads with total sales of about 2,500 bales on the basis of Tls. 85 to 931 for No. 163. and Tls. 94 to 981 for No. 203. Local: About 3,000 bales No 143 and No. 16s are reported sold at the latter. Tls. 80 for the former and Tls. 81 to 85} for
YKOHAMA April 30.-Prices have declined still further. These, however, are still purely no.ninal, and although there are sellers there are no buyers,
PIECE GOODS.
SHANGHAI-Messrs. Noel, Murray & Co., in their Piece Goods Report for the week ending 7th May state:--The usual Spring Race Holidays have caused a break in the business of the week but wo do not think if they had not taken place there would have been any difference in the stito of our market. The principal feature of the week has been the steady fall in the rate of Exchange and with no compensating rise in the value of goods here as far as importers are concerned, the prospects are as complex as ever,. As a small set- off against the fall in Silver, Cotton has advanced quite considerably and against the Liverpool quotation of a week ago for Mid.-Orleans at 5.10d. to-day's price comes to hand at 5.60d. Egyptian Cotton remains unchanged at 73d. In sympathy with this rise of cotton in Liverpool, the Manchester market is to-day quoted firmer with little business doing. The exports for the past month were 31 million yards as against 29 inillion yards for the same period last year. Futures in Liverpool were last quoted 5.18d. Telegrains from New York also indicate a stron- ger feeling and quotations were received during the week of 8.80 cents and 8.94 cents for July and October eption respectively, and to-day the quot- ation of 8.73 cents has been received for Septem- ber delivery. The American manufacturers are evidently not at all anxions to sell to this market at present as an offer from this side to buy Some Flannels was met by a counter offer at an advance of three penco per piece. Locally the business in Manchester goods has been very small and the little that has been done comes from secondhand holders. About clearances the best that can be said of them is that they do not fall off, but keep up their average, but then the aver- age for many months past has been a particularly low one. Of American goods something slightly better can be said as the movement mentioned in our last, as regards the purchases made by the Newchwang dealers, has been maintained during the week and about 7,000 packages have been arranged for. The bulk of the goods have been Sheetings, the remainder being made up of Drills and Jeans. The rate of Exchange has not been so favourable hut the funds available here have been invested in goods the proceeds of which will be returned for the most part in shipment of beans, &c. Most of the goods have been taken from Native-owned stock, the only sale we have heard of from first hands being 500 Bales Green- wood A Sheetings at Tls 3.95. From the other distributing markets we have not heard of any business. The enquiry for Indian Yarn has been much hampered by the drop in Silver and the strength in the price of Cotton. Japanese spin- nings continue to be taken in small regular quan- tities, No. 20. receiving the most attention.
YOKOHAMA-The Foreign Board of Trade Report for 30th April gives the following market information:-
to
Cotton Pieco Goods, Nothing report. Buyera continue to refrain from operating, as lower prices continue to be reported from Manchester.
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