Word: honge
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Dates: during 1930-1939
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...Hong Kong harbor, seventh busiest in the world, is always alive with yachts, junks, ferries, sampans, freighters, liners, men-of-war. Last week it was more than usually jampacked with shipping taking refuge from Shanghai's war 1,000 miles to the north. Suddenly in from the China Sea blasted the worst typhoon in ten years. So furious was the wind that observatory instruments, capable of registering up to 125 m.p.h., broke down...
...Hong Kong's business section became a sordid shambles as the wind tumbled walls, roofs, windows, shop signs. Motorcar parts flew like pebbles. Steel lampposts were bent almost at right angles. A waist-high flood of stinking water and mud seeped turgidly through the waterfront streets...
...itself after six hours there was left behind a trail of fires and cholera. At week's end, British officials were still trying to assess casualties and damages, despondently gave out that at least 600 lives had been lost, that the typhoon had cost about 1,000,000 Hong Kong dollars...
Unfounded rumors of silver shipments totaling $100,000,000 from Canton and other cities in the interior of China to Hong Kong broke the price of bar silver in London to a new 1937 low of 19¼d (43?) an oz., 1½? below the U. S. price. Result- the U. S. Treasury therefore became a heavy buyer until the price differential was erased. Arbitragers promptly took advantage of the same situation, and 3,175,000 ounces of their silver last week arrived in Manhattan. On a war scare virtually all principal foreign currencies developed weaknesses against the dollar...
...declined on the belief that imports from Japan would continue to arrive on schedule. But exports to China were way off, since Shanghai normally handles more than 50% of China's foreign trade. Fruits and groceries consigned there were unloaded from ships in San Francisco, other cargoes at Hong Kong and Singapore, until docks groaned. A typhoon, described as the worst in ten years, caused further losses to shippers by wrecking the Hong Kong water front last week, sinking some 20 ships in the harbor and ruining great piles of exposed goods (see p. 18). No lumber, a prime...