Copra and its products.pdf

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Part of The American Chamber of Commerce Journal

extracted text: October, 1929 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 29 COPRA AND ITS PRODUCTS By E. A. SEIDENSPINNER Vice-President and Manager, Copra Milling Corporation Japan................................................. 11,810 Java.................................................... 2,119 North Atlantic (Europe)................. 20,848 North Africa...................................... 5,103 Straits Settlements............................ 2,434 United States.................................... 162,139 248,701 August, 1929...................... 2,334,651 September, 1928................. 1,917,114 Cigars: While September exports to the United States show a slight increase against August, they are considerably behind the cor responding 1928 period. Comparative statistics of cigars shipped to the United States: September 1929, 15,477,900. August 1929, 15,031,324. September T928, 19,455,333. HOW THEY DO IT The government has allotted more than ?800,000, proceeds of the gasoline and lubricating-oil tax, for bridges and roads. Perhaps not less than 75% of this tax is collected in Manila, from gasoline and oil consumed in motor vehicles operating here. But the city’s allot ment is but F84,000—another instance of taking directly from Manila in order directly to aid the provinces, which have limited taxing power. It seems evident from travel over the highways in this section of Luzon that the tax in question helps keep the roads in repair. Even after the typhoon, the road into Baliuag, Bulakan, was better all along the way than almost any street or avenue in Manila. Another treasury vacuity is reported here, and street work lags. The Manila copra market during Septem ber opened at levels somewhat under export equivalents. It was obvious that much of local supplies would move to the Continental market unless Manila prices advanced or U. K. bids declined. Al though Marseilles ad vices showed the market to be weak in spots, on the whole Continental demand remained fairly steady during the month, and with bad weather conditions locally during the first half of September, Manila buyers ad vanced their pricespending improved production. The month closed with arrivals considerably improved and a steady demand. Total arrivals for the month of September were 388/262 bags as compared with 506,544 bags for September, 1928. Latest advices follow: San Francisco, F. M. M...4-1/4 to 4-3/S cents London, Cebu Sundried... £22/15/0 F. M. M... £22/10/0 Manila, Buen Corriente... P9.25 Arrival Resecada. . . . PIO.00 to P10.25 Coconut oil:—European demand for copra has little effect on the U. S. coconut oil market due principally to the comfortable situation of large consuming buyers and the generous supply of competing Fats and Oils. The bulk of September trading has evidently gone to the edible trade and scattered tank car sales were reported at substant ially better prices than were obtainable for August. With the higher equivalent bids made by Europe for copra, it was but natural that local coconut oil manufacturers should look to the Continent for coconut oil bids. However, we have no record of substantial trading with Europe in coconut oil although we have been advised of the sale of one bulk parcel. There seems to be little prospect of improved demand from the U. S. market unless prices decline more in line with buyers’ ideas. Latest cables follow: New York........7 to 7-J/g cents C. I. F. San Francisco^ .6-J^ cents F. O. B. Manila..........* .31-J^ centavos per kilo in drums. Copra cake:—Hamburg demand for this item was very well sustained during the first half of September and a fair amount of trading was noted at advancing prices. The month closed however with heavy resale offerings down to £9/0/0 October-November-December shipment, under which pressure buyers have become indifferent and refuse to quote at better than £8/17/6. Latest cable advices follow: Hamburg..........£8/17/6 San Francisco. .No quotations Manila, Sellers.. F66.00 per metric ton ex godown Buyers...........P63.00 to P64.00 per metric ton ex godown. TOBACCO REVIEW Alhambra Cigar and Cigarette Manufacturing Co. Rawleaf:—The market for local and export grades during September remained a quiet. The quantity exported was very small. Com parative figures are as follows: Rawleaf, Stripped and Scraps Kilos Australia............................................. 310 China.................................................i 12,402 Hongkong........................................... 31,536 Take the NEW EMPIRE BUILDER Companion train to the ORIENTAL Ofñ yHEN you take the short Trans-Pacific route to Se attle—or if you enter at San Fran cisco—you have a most diverting trip to eastern America awaiting you on the New Empire Builder, companion train to the Oriental Limited. This luxuriously ap pointed and skilfully serviced no extra fare train reaches Chicago in 61hours from Portland or Se attle. 1200 clean, cinderless, scenic miles are traversed behind either oil-burning or electric locomo tives. The route includes 60 miles CLEAN. CINDERLESS, LUXURIOUS, SCENIC ROUTE Apply to Tourist Agencies orTrans-Pacific Steamship Lines or write J. Wesley Young, Gen’l Agent, Pass’r Dept., 1400 4th Ave., Seattle, Wash. A. H. Hebb, Agent, 916 Government St., Victoria, B. C. Edw. A. Dye, Gen’l Agent, 607 Hastings St., Vancouver, B. C. C. A. Gerken, Gen’l Agent, 679 Market St., San Francisco, Cal. M. J. Costello, West. Traf. Mgr., Seattle, Wash. Cable address: Hillrail in daylight along Glacier National Park. Enroute, see the electrified New Cascade Tunnel, longest in the Western Hemisphere—8 miles through the Cascade Mountains —shortening the distance across America on the Great Northern Railway. At Chicago make con nections with fast de luxe trains for Detroit, Cleveland, Pittsburgh, Philadelphia, New York, Boston, Washington, D. C., and other American cities. A Dependable Railway IN RESPONDING TO ADVERTISEMENTS PLEASE MEN'i ION THE AMERICAN CHAMBER OF COMMERCE JOURNAL
Date: 1929
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