June sugar review

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Part of The American Chamber of Commerce Journal

Title: June sugar review
Language: English
Source: The American Chamber of Commerce Journal Volume XIII (No. 7) July 1933
Year: 1933
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Fulltext: 24 THE AMERICAN CHAMBER OF COMMERCE JOURNAL July, 1933 An Oldtimer Dies Fred A. Seymour died in Manila Friday, June 30, after a painful illness at St. Luke’s of about a week’s duration, that seemed to have come of ptomaine poisoning. Fred Seymour had been identified with the commercial life of Manila since 1901, and in recent years had been, and was at the time of his death, an executive of the largest American commercial house in the islands, the Pacific Commercial Company. He lived at the Army & Navy Club, his family, Mrs. Seymour and their 3 children, being in the United States. All who knew him were his friends; he was an affable, unassuming man of gracious manner and natural reserve that im parted dignity to all he did. Sincerity was his rubric. Our condolences are expressed to the bereaved. The funeral services under the rites of Christian Science were held Saturday at 4 p. m., July 1, at the residence of President H. B. Pond of the Pacific Commercial Company, on calle Valenzuela, Sta. Mesa. The body was cremated. to the PACIFIC “Empress of Japan” “Empress of Canada” “Empress of Russia” “Empress of Asia” PACIFIC COAST First $462 $456 $432 $432 Tourist $276 $276 $240 $240 JUNE SUGAR REVIEW By Geo. II. Fairchild EMPRESS FROM THE ORIENT EMPRESS of JAPAN EMPRESS of CANADA EMPRESS of ASIA EMPRESS of RUSSIA Sailings Every Two Weeks From MANILA To Honolulu -Victoria - Vancouver Via Hongkong - Shanghai - Kobe - Yokohama NEW REDUCED SUMMER ROUND TRIP FARES ------- COAST and HONOLULU HONOLULU First $370 $365 Tourist $224 $224 Tickets on sale commencing with the “Empress of Japan’’ sailing June 12th until the “Empress of Russia” sailing July 22nd. Return tickets good until September 30th, 1933. Attractive Fares to Europe quoted in Pounds Sterling CANADIAN PACIFIC WORLD’S GREATEST TRAVEL SYSTEM. New York Market: Although a sale of JuneJuly shipment Philippines was made on the 31st of the previous month at 3.46 cents, no buyers could be found at over 3.40 cents at the close of the day as the result gf profit taking. On the 2nd of the month under review, how ever, quotations on the Exchange advanced and prices of actual sugar similarly improved, with sales to refiners of 4000 tons Cubas at 3.48 cents—3.50 cents, duty paid, ex-store Norfolk, and 3000 tons JuneJuly shipment Philippines at 3.50 cents. On the same day, a Pacific Coast refinery advanced its price to 4.60 cents. The advance in the Sugar Exchange which began on the 5th was checked on the 7th when “future” quotations declined 9 to 11 points owing to the rumors that no change in the present U. S. Sugar Tariff would be effected until the next session of Congress. Offerings of Cubas at 1.50 cents did not attract buyers, while Philippine sugar afloat changed hands at 3.46 cents. The advance in refined prices to 4.60 cents was followed generally on the 7th. During the second week “future” quotations on the Exchange declined steadily, resulting in a net loss of 15 to 17 points. A sale of June-July ship ment Philippines was effected on the 13th at 3.40 cents, while Cuban sugar changed hands at 1.40 cents c. and f. The third week saw a recovery of 7 to 9 points in the “Exchange” quota tions from the previous week’s losses, due principally to reports that Pres ident Roosevelt had rejected the proposal of monetary stabilization. Although the market for actual sugar was dull, prices remained on the same level as that of the previous week. The improved tone of the sugar market was maintained during the firBt two days of the last week and quotations oh the Exchange advanced 6 to 10 points over the closing quota tions of the previous week. On the 27th, Puerto Rico sugar for prompt shipment was sold at 3.50 cents and August shipment Cubas at 1.50 cehts c. and f. On this same day the sugar conference at Washington started, at which the representatives of the' U. S. continental beet and cane industry as well as of the sugar producers of Puerto Rico, Hawaii, the Philippines and Cuba were present, to discuss the proposal for the allotment of a quota to the various countries supplying the U. 8. sugar requirements. The gen eral feeling that considerable delays would be encountered before a decision could be arrived at by this conference greatly contributed to the weakness of the Exchange during the week. On the 28th, large quantities of Cuban sugar were being offered in all positions without finding buyers at 1.50 cents c. and f. Futures: iveries on .... ... during the month July.......... September. December. January. . . March . . . . May.......... Quotations for future delt.he Exchange fluctuated ” as follows: lliuh Low 1.55 1.32 1.58 1.34 1.64 1.41 1.65 1.41 1.70 1.47 1.74 1.52 Latest 1.45 1.47 1.54 1.55 1.59 1.64 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMER :E JOURNAL July, 1933 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 Stocks: Stocks in the U.K., U.S., Cuba, Java and European statistical countries were reported on June 29th as 7,671,000 tons, com pared with 7,764,000 tons in 1932 and 7,634,000 tons in 1931. Philippine Sales: Sales and resales of P. I. centrifugal sugar were reported in New York during the month as follows: Long Tons Cents per lb. From To Sales................................. 17,725 3.40 3.50 Resal*............................. 21,500 3.45 3.50 Local Market: Although exporting houses raised their quotations to P7.80—P8.15 per picul, very little business was transacted at this level during the first three weeks owing to scarcity of present-crop sugar. During the last week, however, large sales of centrifugal sugar ag gregating over 7000 tons were made to an ex PHILIPPINE CENTRIFUGAL SUGAR PRODUCTION FOR 1932-33 (Compiled by the Philippine Sugar Association, July 11, 1933) Centrals on Negros 1. Bacolod-Murcia Milling Co................................................................ 2. Binalbagan Estate, Inc....................................................................... 3. Central Azucarera de Bais........................................... .................. 4. Central Azucarera del Danao (*)...................................................... 5. Central Bearin..................................................................................... 6. Central De la Rama........................................................................... 7. Central Leonor..................................................................................... 8. Central Palma.............................................................................. 9. Central San Isidro............................................................................... 10. Hawaiian-Philippine Co...................................................................... 11. Isabela Sugar Co., Inc....................................................................... 12. La Cariota Sugar Central.'................................................................ 13. Lopez Sugar Central Mill (*)............................................................ 14. Ma-ao Sugar Central Co................................................................... 15. North Negros Sugar Co. (*).............................................................. 16. San Carlos Milling Co., Ltd.............................................................. 17. Talisay-Silay Milling Co.................................................................... 18. Victorias Milling Co........................................................................... Centrals on Luzon 19. Bataan Sugar Co................................................................................ 20. Calamba Sugar Estate....................................................................... 21. Central Azucarera de Calatagan...................................................... 22. Central Azucarera de Tarlac............................................................. 23. Central Azucarera del Norte............................................................. 24. Central Azucarera Don Pedro.......................................................... 25. Central Luzon Milling Co................................................................. 26. Hind Sugar Company......................................................................... 27. Luzon Sugar Company....................................................................... 28. Mabalacat Sugar Co........................................................................... 29. Mount Arayat Sugar Co.................................................................... 30. Nueva Ecija Sugar Mills, Inc.......................................................... 31. Pampanga Sugar Development Co.................................................. 32. Pampanga Sugar Mills....................................................................... 33. Paniqui Sugar Mills............................................................................ 34? Philippine Sugar Estates Dev. Co.................................................... Central on Mindoro 41. Philippine Milling Co......................................................................... Centrals on Cebu 42. Bogo-Medellin Milling Co.................................................................. 43. Cebu Sugar Company........................................................................ Central on Leyte 44. Ormoc Sugar Company (♦)............................................................... Total............................................................................. 6,019,703 374,732 Centrals on Panay 35. Asturias Sugar Central, Inc............................................................ 293,391 18,264 36. Central Lourdes................................................................................... 15,000 934 37. Central Santos-Lopez (*)................................................................... 266,000 16,559 38. Central Sara-Ajuy............................................................................... 109,027 6,787 39. Philippine Starch & Sugar Co............................................................ 141,910 8,834 40. Pilar Sugar Central............................................................................. 224,010 13,945 (*) Latest estimates, still grinding. porter at P8.00 per picul for delivery up to October 31st. Crop Prospects: The locust menace in the sugar districts, particularly of the southern islands, has not abated in spite of the active campaign being conducted by the government entities, and it is feared that the growing crop may suffer serious damage from the winged pest. The production for the 1933-34 crop, according to the preliminary estimates received from the individual Centrals, as cabled to Washington by the Philippine government authorities, is placed at 1,327,564 long tons equivalent to 1,486,871 short tons. The 1932-33 crop which has already been harvested except in the case of five Centrals, which are still grinding, will probably aggregate 1,149,044 long tons equivalent to 1,286,929 short tons. The production of each individual Central is tabulated in the attached statement compiled by the Philippine Sugar Association. Piculs Long Tons 722,343 664,719 769,971 220,000 167,280 85,000 60,000 141,096 166,500 1,060,221 449,680 1,209,296 500,000 700,522 1,279,000 696,867 823,910 936,065 10,652,470 663,126 73,000 748,222 75,743 1,193,571 45,000 463,802 464,383 51,210 87,872 38,577 176,543 50,991 1,130,433 1,172,405 167,648 80,303 1,049,338 163,053 208,904 174,788 383,692 190,000 i 4,715 74,301 2,801 28,872 28,909 3,188 5,470 2,402 10,990 3,174 70,371 72,983 10,436 4,999 65,323 10,150 13,004 10,881 23,885 11,828 18,458,256 1,149,044 Philippine Exports: Export statistics for the month of June as reported to us from private sources are as follows: Long Tons Centrifugals............................................. 33,847 Refined..................................................... 6,395 Total for the month.................... 40,242 Exports of these two grades of sugar from the Islands to the United States for the first eight months of the current crop year from November 1, 1932, to June 30, 1933, are as follows: Long Tons Centrifugals............................................. 929,052 Refined................................................... 45,351 Total exports to date.................... 975,403 It has been reliably estimated that a total of approximately 1,073,000 long tons equi valent to 1,090,000 metric tons will be ex ported to the United States from the Islands during the calendar year 1933. The amount exported from the Islands to the United States during the first half of the calendar year totals 746,124 long tons, indicating a balance of about 327,000 long tons still available for export to the United States during the last half of this year. Thord-Robinson: Soldier of Fortune (Continued from page 18) naval station at Cavite to enroll for active duty in my old outfit, the navy. Upon arrival at Manila, I phoned Page who insisted that I come out to the house to stay overnight. After a wonderful dinner, to me, Mrs. Page said, “Well, I know you boys want' to wade around in blood awhile and wave the banner, so I’m leaving. ” She had hardly gone when Page passed me a large envelope contain ing a folded sheet which read as follows: cMlaJaa an el^o'id-eR.o^inAan and 5Lu*tecntR ^Battalion, lJLacaIma incite jau to pfaAent at 5iefd SpaitA to on tK< ^SfainA of X X X X X X at Cai-10, 6^pt I cannot remember the name of the plains nor the date but the salient point was that he must at last have realized his dream; and I felt that he was back in the service from which I had always felt he had come. In 1921 I was back to the Philippines under orders for duty ashore at Olongapo. Page was still in Manila. We had corresponded some during the war. I had hardly gotten settled when he came into my room with an Illustrated London News, on the back cover of which appeared a three-quarter length picture of a splendidly military looking officer in dress uniform. Beneath was the following: “His Majesty, the King, has been graciously pleased to brevet Major Ivan Thord-Robinson a leftenant colonel in the Royal Fusileers. ” Page and I filled our glasses and drank to Major Thord-Robinson.’s continued good fortune.