T chiefly of reports prepared by the various companies, together Public Utilities section of the S.M.C. annual report consists
review of their activities during 1940. The outstanding "feature of all these reports, of course, is the all round increase in charges for utility services, due to the decline in value of the} Jocal dollar.
TET he transportation companies larger traffic during the year in 1939, although still unable to te in Hongkew. Certain imits and additions have been by these companies. The Gas Company noted a 17.88 increase over sales in 1939, the electricity sales decreased Tates, for the greater although later in. the in meeting the calls upon it. The Shanghai Waterworks Ca. pumped 236 per cent. more water in 1940 than the previous year.
Extracts from the various reports follow:—he China General Omnibus Ca., Lid. "Disturbed political conditions and the continued depreciation in the value of the Chinese dollar rendered the operation of efficient services most difficult, In order to meet steadily rising costs, revised fares providing for an average increase of 45 per cent. were brought into effect on April 16. By the end of the year running costs and rapidly increasing labour chafges had again overtaken revenue, and the company was once more obliged to increase fares by an average of 35 per cent."
Little Delay in Delivery ~The cost of living index for February shows that again prices have risen considerably in the month, despite the firmness of. the local dollar. The index of foreign cost of living referred to below is based on a standard of living ruling in October-December, 1939. The Chinese index is based on a standard ruling in 1936. It is estimated that a lower standard of living for Chinese in February 1941, involved cost. of living 44 times as much 1 rte E m. c. the foreign report on the for index follows:
"Despite the ie falls in the the of the Chinese commodity and stock markets and
National dollar in the exchange market during the month, retail prices in g rose sharply. On February 3 and 5, the Chinese dollar in "of US. currency was quoted at 5 9/32. The subsequent tense situation, both political and financial and at home and abroad, it the rate to 5 7/8 on Fel 18, "Gold bars dropped over $1,000 per 10 ounces, Stock quotations fell almost to the low levels reached last October. y prices, too, experienced heavy falls, in particular cotton yarn which dropped $150 to $350 per bale. Consider-al reluctance, however, was observed among retailers to adjust, their prices in contrast to their readiness tọ put up prices when exchange -rates drop or wholesale prices increase. In spite of the firmness of the Chinese dollar during the month, its purchasing power in the retail market, instead of being improved, was further reduced.
Sharp Rise "A sharp rise of 13.79 points was recorded in the consolidated index of cost of living of foreign salaried employees for February. It stood "at 205.77 as against 191.98 in January. "The purchasing power of the Chinese dollar was reduced by 5140 per cent. as compared with 47.91 per cent. in January. Among the national indices, e Russian index of 210.24 regi: the heaviest increase of 15.55 points over January; followed by the British index of 199.67, a rise of 1259 points; the index of 206.08 for other nationalities, 1220 points; and the American index of 193.15, 9.78 points. Of the group indices for all nationalities, the food index of 248.80 recorded heaviest increase of 29.41 points; followed by the heat index of 206.49, a rise of 12.75 points; the rent index of 169.77 6.02 points; the clothing index of 20343, 5.10 points; and the miscellaneous index of 172.77, 2.60 points.
"During the month there was a rise in food prices in. general, and in cereals, meats, and canned foods in particular. Different brands of bread have been raised from 2.60 to 1429 per cent. over January. Various cuts of beef made spectacular upward movements in price from week to week; sirloin roast went up 26.90 per cent, and soup meat, 37.06 per cent. Minced meat and chicken also rose 37.25 and 22.83 per cent. 1 respectively. Among vegetables, Irish potatoes have gone up 514 per cent. and onions, 100.00 per cent. items stayed even, some, showed slight increases, while a few rose sharply. Municipal rates in the International Settlement and Extra-Settlement Area were further raised to 37.80 and 33.60 per cent. respectively. Surcharges on electric light and heating February in the International Settlement were increased to 18097 and 27637 per cent, atid that on gas to 250 per cent, from February 15."
The general index of cost of living for Chinese workers surpassed the 600 mark during 1940. It stood at 60229 as compared with 597.19 in January, and 37792 in February 1940. The {oot index shows a slight decrease compared to January, but other indices continued to rise. The decline of: the food index is attributed to a slight lowering in the price of rice.
Text read from the printed page and cleaned; old type leaves the occasional error.