138 COTTON TEXTILES IN FOREIGN COUNTRIES. 



ton capital seeks aiid finds employment and investment in all portions 

 of the Chinese Empire and along the cost of eastern Asia, between 

 India and Japan, and it is reasonable to assume that Canton merchants 

 watch the markets of Shanghai and Hong-Kong to get the benefit of 

 the lowest prices of imported cotton textiles, although the two markets 

 might be supposed to assimilate by the ordinary tendency of trade. 



Fluctuations in prices of imported cotton textiles are more frequent, 

 sudden, and severe in Shanghai because of the prevalent custom in that 

 city of selling these goods at auction sales, which occur several days in 

 each week, and tend to disturb and unsettle valuations. 



Thus Canton and other Chinese trade centers have to look to the two 

 prominent markets-- of Hong-Kong and Shanghai for supplies of im- 

 ported cotton textiles, and the prices of those two markets determine 

 valuations of cotton goods of foreign manufacture. 



At Shanghai and Hong- Kong regular and accurate trade reports are 

 published on Friday of every week. 



It should be kept in view that the Hong-Kong markets are reported 

 in Mexican dollars and cents, and the Shanghai markets are reported 

 in commercial taels, and the Chinese custom-house tariff of duties and 

 valuations is in Haikwau taels. Quotations need explanation. In 

 each tael are 10 mace. In each mace are 10 candarines. In each can- 

 darinej are 10 cash. The value of the cash i about 1 mill, or one- 

 tenth of a United States cent. The commercial tael is about $1.39 

 Mexican, equal to $1.04 United States currency, and the Haikwan tael 

 is about $1.56 Mexican, equal to $1.15 United States currency. 



PRICES. 



Cotton textiles, mostly for this province of Kwangtung, were sold 

 in Hong- Kong during the week ended July 26, 1889, as follows (United 

 States currency): 



Gray shirtings, 36 to 39 inches wide, 3& yards long : 



6 pounds weight - -- $0. 89 



7 pounds weight 1.40 



8J pounds weight (3,550 pieces) 1.37-1.80 



9 to 10 pounds weight (1,550 pieces) 2.00-2.25 



T-cloth, 32 inches wide, 24 yards long (ordinary) : 



6 pounds weight --. .89 



7 pounds weight 1.22 



T-cloths (Mexicans), 32 inches wide, 24 yards long : 



7 pounds weight (7,650 pieces) 1. 37-1. 80 



8 to 8 pounds weight (1,250 pieces) 1.52-1.63 



Drills (English) 14 pounds weight, 40 yards long (300 pieces) 2. 03-2. 26 



White shirtings, 36 inches wide, 40 yards long : 



54to56 "reeds" 1.27 



58 to 60 "reeds" 1.63 



64 to 66 "reeds" (1,250 pieces) 1.78-1.85 



Bookfolds and fine (11,200 pieces) 1.27-3. 40 



Bombay cotton yarn (1,490 bales) 45. 00-60. 00 



