Current far Eastern trade conditions

Title

Language

English

Year

1934

Rights

In Copyright - Educational Use Permitted

Abstract

Based on Cables from U. S. Foreign Commerce Officers.

Fulltext

20 THE AMERICAN CHAMBER OF COMMERCE JOURNAL January, 1934 Current Far Eastern Trade Conditions Based on Cables from U. S. Foreign Commerce Officers Japan. Exports during the last 10 days of September were the largest, for anv 10-day period during the year, a condition ejected by larger exports of miscellaneous goods. Develop ments in the American trade and uncertainty as to the outcome of the Simla conference af fecting trade in India influenced immediate future trends. Raw cotton imports September 10 to 20 included 50,000 bales from India, 3,000 only from the United States, 35,000 from EgyptThe August production of cotton textiles ex ceeded July’s by 9-1 2' c. The finance ministry announced there would be no new taxes levied to meet increased public expenditures. Upped exports and lowered imports st rengt hon ed the yen’s exchange position, business was active. The rice crop of 50,000,000 koku (286,064,000 bushels, or 134,710,526 cavans, counting 2.128 bushels 1 cavan and a koku 5.119 bushels', 8.6% above normal. The market is overstocked and a new control law effective November 1 The trip from Pacific Coast (Vancouver) to Atlantic Coast (Montreal or Quebec) is made in four days in the luxurious trains of the Canadian Pacific Railway. ONLY 3 TO 4 DAYS OCEAN TO EUROPE Via St. Lawrence Seaway! Sail from Montreal or Quebec and enjoy 2 days on the smooth St. Lawrence. Then, only 3 to 4 days more to British and Continental ports. Regular sailings: Empress of Britain. size-speed-SPACE marvel. Famous “Duchess" liners for smart economy. Popular “Mont-ships" for solid comfort, low cost. Attractive, low-priced Tourist and Third Class on all ships. YOUR INQUIRIES ARE INVITED CANADIAN PACIFIC WORLD’S GREATEST TRAVEL SYSTEM IN RESPONDING TO ADVERTISEMENTS PLEASE~MENTION came too late to relieve this condition. Flour exports during the first S months of the year equaled last year’s total, rayon exports were 20% above those of the first 8 months of last year, rail receipts were up 10% over the same period last year retail commodity prices advanced 2%, the financial market declined in face of a new flotation of government 4 %’s. China. America furnished China 20% of all the latter’s imports duripg the first 8 months of this year, and bought from China somewhat more than 20% of the latter’s exports, thus becoming first in rank in China's foreign trade. During that period China bought airplanes and accessories valued at Yuan dollars 7,800,000 of which 5,500,000 came from the United States. Interest in the new rail and highway construc tion continues and aviation developments in Central and South China are offering a market for American equipment. The Shanghai cotton milling and yarn trade continue unfavorable and FOR THESE GOOD REASONS... GO EMPRESS Reason 1...Record size. Reason 2...Record speed. Reason 3... Luxury of Pacific and Atlantic standards. More Reasons...? Ask anyone who’s made an “Empress” crossing! Fortnightlv sailings from ORIENT TO VICTORIA AND VANCOUVER Choice of 2 Routes... Direct Express: Empress of Asia and Empress of Russia make trans Pacific crossing from Yokohama in 9 days. Via Honolulu .Empress of Japan (largest, fastest liner on Pacific) and Empress of Canada add but three days to the journey.... First and Tourist Class. Also, Third Class. RAILWAY SERVICE ACROSS CANADA flour sills are operating 50 per cent of ca pacity. Low rice and wheat prices are adversely affecting farmers. Although larger wheat and cotton crops are reported and greater volume of leaf tobacco output is expected, rice produc tion throughout China is likely to be lower that the last season’s large crop. Manchurian soy bean crop is considered large and of good quality. Shanghai cigarette factories are generally operat ing below normal. September trade, in North Manchuria, of American goods are reported hindered by increased prices. The American Consul at Mukden reports improved railway trasportation and extension of air mail and passenger service under Japanese auspices. Japanese cotton interests arc reported organizing an association to encourage planting in Shantung Province of American type cotton. The American Consul at Hongkong reports that increased United States prices are effecting exchange advantage and that the boycott of Japanese goods in Canton continues. Import duties on rice have recently been imposed for the benefit of Canton farmers. The Southwest Aviation Company has been organized for the development of air mail and passenger service. Britain is sending an air attache to China, it is reported, to look after her aviation interests there. Features of U. S. current business in China: the contract to bridge the Pearl river to connect tlie Canton-Hankow and Canton-Samshui rail ways; arrival of a cargo of 11,430 bales of cotton, the first shipped against the cotton and wheat loan, at Shanghai. .Java. Import ordering has been temporarily stimulated by the anticipated tariff increases to be effective January 1 or earlier. The substantial reduction of the current sugar crop failed to reduce the heavy stocks as exports continue equal to production. Singapore, Straits Settlements (Trade Commis sioner Boehringer.) Confirmation of adherence of Indochina and Siam to rubber restriction is lacking but ad herence of certain strong British interests which were formerly opposed to the movement has been reported. There has continued a firm tendency in rubber and tin prices, causing material business improvement. Better wages are stimulating the retail trade and increased tapping activity is expanding demand for estate supplies. French Indochina. The current paddy market is quiet but prices are sustained by small arrivals from the interior. Demand from France for white rice is irregular and sales are small. Ex ports of rice for the first eight months of 1933 totaled 949,000 metric tons compared with 817,000 for the same period last year. Year-End Merchandising.... (Continued from page 9) Cordage exported during October brought 1*205,854 of which 1*123,640 was from the United States. Copra exported during October brought Pl,846,076 of which 1*1,514,953 was from the United States. Copra meal exported during October brought 1*196,458 of which 1*119,088 was from Germany. Coconut oil exported during October brought Pl,338,063 of which 1*1,315,398 was from the United States. Desiccated coconut exported during October brought 1*394,307 of which 1*393,879 was from the United States (and the rest, 1*428, from Japan). Centrifugal sugar exported during October brought 1*3,248,033 of which all was from the United States. (Hawaii took 1*35 worth of raws, Hongkong 1*1,045 worth). Refined sugar exported during October brought 1*496,214 of which all was from the United States. Leaf tobacco exported during October brought P300,979 of which 1*208,131 was from Spain. Cigars exported during October brought 1*937,583 of which 1’883,707 was from the United States. (Total exports of cigarettes brought only 1*3,200, of which 1*2,017 was from Spain). THE AMERICAN CHAMBER OF COMMERCE JOURNAL

Media