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January 4, 1909.
Volunteers go into camp at Stonecutters Messrs A. R. Marty's steamer " 'Hailan' loated from a sand bank at Hoihow. 22-HE. the Governor gave a farewell dinner to Rear-Admiral and Mrs Stokes.-Taotai Wen called at Hongkong en route to Thibet. Shanghai defeated Hongkong in the interport cricket match by two wickets.-M. Klobukowski, the new Governor of Indo- China, welcomed at Hanoi.
24 Volunteer Troop and Gymkhana Club Gymkhana at Causeway Bay-Hongkong defeated Shanghai in the interport tennis tournament.
29-Arrival of Dr. Sven Hedin in Hongkong
Farewell Tattoo of Middlesex Regiment on the H.K.C.C. ground.
NOVEMBER.
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30-Chinese authorities welcome the American
Fleet at Amoy. 31-Rear Admiral and Mrs. Stokes left for
England by the P. and O. steamer Assaye. 1-Riotous disturbances in Hongkong in con- nection with the Chinese boycott of Japanese goods. Military called out." 3 Peace Preservation Ordinance 1886 pro- alaimed in Hongkong, under which eight prominent Chinese were banished for promot ing the boycott.
4-Annual licensing sessions.. 6-News of the death of Mr. Archibald Little of Chungking published in a Daily Press talegram. 7-Sir Paul Chater entertained members of the
Horticultural Society and others. 9-King's birthday review and ball at Govern.
ment House. 11-Celebrations at Bangkok in connection with the completion of the 41st year of the reign of King Chualongkorn.
13 Mr. H. O'Shes, editor of the China Gazette sentenced to two months' imprisonment st Shanghai for libelling Judge Wilfley of the American Court."
14- Papal Jubilee celebrations in Hongkong.-
The death of the Chinese Emperor Kwong Hsu. The infant son of Prince Chun proclaimed the successor of the Emperor Kwong Hsu.- National mourning for 100 days ordered.
15--The Empress Dowager of China died.-
HE. the Governor visted Macao, on the occasion of the King of Portugal's birthday anniversary celebrations.
16- Opening of new Y.M.C.A. branch at
Wanchai.
18-Important Full Court judgments in the action Leang Lai Nam and others v. Reuter. Brockelmann & Co.
:
20—Arrival of The Buffs in Hongkong. 22-Revolutionary outbreak at Anking quelled. 23-Formation of Association Football League. 26-Annual cricket match between the Navy
and Army ended in a draw. 9-Excitement at Canton over the death of a Chinese passenger who was alleged to have been kicked to death by a Portuguese ticket- collector. The allegation was entirely dis- proved at the inquiry in the British Consular Court, but the Chinese were dissatisfied with the verdict and asked for a trial by the Portuguese Consul-General 30-St. Andrew's hall at City Hall.-Two armed
robberies at the village of Chinwan.
DECEMBER.
1- The American Fleet at Manila.
CHINA OVERLAND TRADE REPORT.
21 Hongkong Club defeated the Club Germania in the annual bowling match by 1440 points,
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22-Rajputs Gymkhana at Causeway Bay. 24-Lady Lugard returned to the colony. 28--Chinese Authorities seize the British.exchange kept steady and values appreciated $4
steamer Tai On on the West River. 29-Mr. Kato; G.C.M.G. Japanese Minister to London and Mrs. Kato entertained at Go- vernment House,
TRADE REVIEW :908.
the year 1908 the data of which have been Below we give a retrospect of the trade of gathered from authoritative sources.
EXCHANGE,
During 1907 exchange has been fluctuating between 1/114 and 18 8d. It was at its highest, 1/114 in the beginning of January, since when rates have been declining steadily during the year, with the usual temporary rises [mainly caused by speculation in India and China], down to 18 8d. at the beginning of December; since then there has been a little recovery and the T/T rate stood on the 31st December, 1908 18. 83d.
The main reason for the decline of silver we must attribute to the total absence of the Indian Government as a buyer, the trade balance having been against India nearly all the year. The Government had no reason to add more to their already large stocks and it is argued that little silver may be required for India for months to come. Besides there is the increase of the world's production by the opening up of the Cobalt mines in Canada. The Statist of July 6th, 1908, gave the following official returns for these mines since 1904 as follows:-
1904 1905
1906 first half. 1906 second half. 1907 first half.
Tons of Silver contents 2,000 lbs.
158
2,144
1,190
OZ. 206,875 2,451,356 1,445,360
4,125
3,987,018
6,319 4,473.540 1907 second half... 8,469 5,549,771 Whether the sharp decline in the price of silver will influence the working of these mines is, of course, another question, so far only the returns for January and February 1908 are to hand showing shipment of tons 2.500, against tons 1,880 during the same period in 1907. The lowest price of silver quoted during this your was 22d on December 3rd being only higher than the lowest point ever touched.
COTTON AND YARN.
The fluctuations in India or America, seem to have very little effect on our market here, which is entirely controlled by local conditions and the requirements of the country. The increasing importations of the low counts of Indian Yarn and the introduction of cheap Japanese cloth into the country have consider ably checked the consumption of the raw material. Receipts during the period amount to 27,194 bales and sales aggregate 26,720 bales. A fair portion of the arrivals are supposed to be in fulfilment of contracts with the local mill, while a small quantity have been re-exported to Kobe on consignment, leaving about 500 bales in
stocks here.
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The commercial retrospect of the last year is chiefly remarkable for the numerous 2-The A.D.C. produce "A Country Girl" at fluctuations and incessant decline in silver,
the City Hall,
producing serious disturbances in Agreement between America and Japancial operations, great depreciation in many announced guaranteeing the status quo in the Pacifio
5-Accessional edict of the Chinese Emperor published in Daily Press-Hongkong de- feated Canton by an innings in an interport cricket match.
?
commer-
articles of produce, low prices and more or less heavy losses to importers. The re- view of the yarn market shows this article of commerce to have participated in the general depression, with a few occasional and spasmodic efforts at excitement and animation, and the result of the year's business has been far from
The death of Bir Ewen Cameron of the * Long song and Shanghai Bank announced.-satisfactory. Bandmann Comedy Co., opened a season at the Theatre Royal.
-Annual bazaar Asile de la Sainte, Enfance, 16 Arrival of the All-American Baseballers. 17-Petition presented to the Legislative Council by Sir Henry Berkeley, K.C. on behalf of over 7,000 Catholics, protesting the proposed routs of the new Peak 20-Reach All American Baseballers played
against a local team at Happy Valley.
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F
turbances, has been on a much larger scale and on the whole a comparatively good business has been put through. Importations during the first four months of the year met with some profit, and more or less covering prices were obtained; to $5 per bale owing to brisk enquiry. In May a sudden drop of 5 to 6 points in exchange took place, no adequate advance in rates could be obtained and business was greatly checked in consequence. A brisk demand from the country then set in, but as silver continued to decline the advance in prices was not sufficient to allow much for the loss in exchange and all suffcient change proved unsuccessful. On the whole the efforts to adjust them to the lower level of ex-
yoar under review has been unremunerative td the trade. Except in the case of some best ano favourite spinnings prices seldom reached the level of rates ruling in Bombay, and were it not for a little occasional assistance from Shanghai results would have been more unsatisfactory.
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In the beginning of the year exchange stood at Rs. 143, and is now quoted at about Rs. 126; best spinnings of No. 10s were sold at $96 to $98, and are now quoted at 8110 to $111; unsold stocks in January were estimated about Rs. 8,000 bales, and the market now closes almost lifeless with a trifling stock of 19,000 bales.
The past twelve months have been very successful to native dealers. Their proceed- ings have been marked by extreme caution and their purchases principally confined to actual requirements under country orders and without an outlet for their purchases no concession on the part of holders to effect sales could induce free buying.
The last year has been the fourth suc- cessive period of prosperity to the cotton mills in Bombay. The most noticeable feature of the trade has been the sno- cessful placing of the low counts of Bombay yarn on the English market..
PIECE GOODS.
The year just closed has shown some improve- ment over the two years immediately preceding, although the piece goods business generally can hardly be described as satisfactory. There has been a general reluctance on the part of dealers to enter into any large contracts, but this has also had its advantages, the supply having been kept more nearly approximate to the demand from consuming districts. Stocks have therefore been light and clearances good." The improvement has been mostly felt in Fancy Goods, and would have been even more marked had not supplies of bankrupt stock and other cheap cargo found their way down here from Shanghai and the North.
Grey and White goods have not benefited so much as Fancies, but there were heavier stocka to work off in these.
SUNDRIES.
The year 1908 may on the whole be said to❤ have been a satisfactory one. True we have heard many grumblings about the bad times throughout the year, but nearly every one will admit that the trade has shown a considerable improvement on that of the year 1907.
During the year prices have come down at home for many articles, and a good business has been done in consequence. Cotton Goods, Hosiery, Umbrellas, Woollen Cord, Berlin Wool, Liam, Braid and Blankets, have all seen a remarkably low level of prices during the year, so much so that many of the Foreign hongs have been tempted to buy in anticipation for 1909 deliveries, and it remains to be seen whether their gambles. will result favourably to themselves or not. The discount on Chinese coins, which was such a disturbing element in this class of business last year, has not been so heavy during the latter half of the year and dealers have benefited to a great extent.
The continued fall in exchange has since October prevented a lot of business being pat through, but on the other hand dealers have The Indian trade, so far as Hongkong is been able to make a little money on some of concerned, has materially advanced during the
their purchases made when exchange was good, past twelve months. Imports amount to 210,275 Many native dealers, however, refuse to hold bales as against 146,395 bales last year, while any cargo at all for a rise, and if they see a sales aggregate 151.243 bales as against 137,608 chance of selling without loss, they do, thus bales in 1907, showing an increase of 43 and spoiling the market for others. One 10 per cent. respectively. As the evil effects of much about the guilds of the Chinese being the late crisis of 1906-07 are gradually disable to regulate prices, but as far as the dealers appearing, the country is in a better position in Sundries are concerned, this does not hold to absorb imports, and demand from the con- good, the competition being too keen. There suming districts, despite natural and political dis have been only a few failures of native desless
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