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“...SHANGHAI.
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Yam.—As in piece-goods, the stocks of yarn were enormous at
the commencement of the year, both here and in Hong-Kong.
Shipments from India were curtailed, however, and the consumption
during the year was well sustained, with the result that stocks were
considerably reduced and the trade again placed on a sound and
satisfactory basis. Twelve mills are engaged in spinning in
Shanghai, and their productions are very popular among the people
in the neighbouring districts.
Machinery and metals.—In metals there has been little
movement; stocks have never been unduly heavy and, though
little trade has been done, the slackness is only local and temporary,
and the general condition of the market is sound. The same may
be said of machinery. The progress of railways during the year has
led to the import of a considerable quantity of material, and it may
bo anticipated that there will be a constant demand for railway and
mining materials for some years to come. There appears, however...”
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“...•8
SHANGHAI.
Raw cotton.—A large quantity of raw cotton was shipped to
Japan early in the year, and prices steadily increased as exchange
went down. The general depression in Japan trade caused this
demand to cease suddenly, but the local mills kept up a good demand,
and this, in addition to the small crop, kept prices at a high level.
Small quantities were shipped to Europe, but the prices were too
high to make any considerable business possible.
Shanghai-Nanking Railway.—Perhaps the event of greatest
interest in the commercial life of the port during the year has been
the opening to traffic of the line of Nanking, a line only 193 miles
in length, but the forerunner without doubt of a complete link
between the coast and the undeveloped resources of the west. The
line has been completed within three years, and the first train
travelled over the route with great smoothness and comfort at an
average of 25 miles an hour, giving proof of a firm and substantially
built line, which is a point...”
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“...produce. The opening of the Manchurian ports of Antung and
Tairen promise greater facilities for the trade with Manchuria as
soon as political conditions have resumed their normal aspect.
The organisation of a mail service via, Siberia, which now collects
and delivers letters on regular dates, with a 21-day service with
London, promises closer touch with the home markets. Shanghai
asserts itself year by year also as an industrial city of increasing
importance. In addition to the various cotton mills, silk filatures,
cigarette, soap and glass factories, there has been a new develop-
ment in the treatment of ramie fibre. The experiment is not at
present sufficiently advanced to furnish much definite information,
but a regidar supply of raw material is being obtained, and after the
filasse has been degummed it is hoped that Shanghai may enter the
market with a ramie yarn, for which there are already many inquiries.
The conservancy of the river proceeds apace, and it is estimated that
by the...”
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