September sugar review
Media
Part of The American Chamber of Commerce Journal
- Title
- September sugar review
- Creator
- Fairchild, Geo H.
- Language
- English
- Year
- 1934
- Rights
-
- Fulltext
- October, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 29 Tagum Trading Co., Inc. Sellers of Philippine Timber * c/o Mitsui Bussan Kaisha Ltd. Manila — National City Bank Bldg. — P. I. BAGUIO Vacation Center of the Philippines.... City of Untold Wealth an! Beauty Unsurpassed! make it a point to travel by the When going to BAGUIO MANILA RAILROAD It will pay you to investigate what the Company has to offer in the way of travel, comfort, safety and service, either by train or motor bus. Always buy a round-trip ticket. It saves you trouble and money. FIRST CLASS FARE now re duced to F19.40 round trip includ ing bus transportation, good for 120 days. THIRD CLASS FARE P8.36 round trip. Manila Railroad Company 943 Azcarraga, Manila • Tel. 4-98-61 AIR CONDITIONED CAR now added to our equipment—in the service with Baguio-Ilocos Ex press, leaving Manila at 6:55 a. m. and San Fernando, La Union, 2:50 p. m. It is specially built and fitted with the latest known device insuring Comfortable Temperature, Clean, Healthful Air, and also Quiet and Restful Travel. Avail able for first class passengers. AIR CONDITIONED CAR seats are limited and Reservations must be made in advance. SEPTEMBER SUGAR REVIEW By Geo. II. Fairchild New Yopk Market: On the 5th of the month under review the Cuban President signed a decree fixing the price of sugar for export to the United States at 2.29 cents c. and f., the equivalent of 3.19 cents duty paidThe sugar market prac tically throughout the month was uninteresting in view of the uncertainty regarding the Cuban price-fixing program and the means to be adopted by the U. S. Government in controlling distri bution in 1935. As a whole, insignificant trans actions were made in actuals, Cuban holders obtaining the fixed price of 2.29 cents c. and f. for prompt-shipment sugar, while ex-store sugars were available at 2.86 cents and 2.87 cents duty paid, these prices advancing to 2.94 cents and 2.95 cents during the last two days of the month. Quotations on the Exchange fluctuated but slightly throughout the month, closing at prac tically the same levels as those for the previous month. Futures: Quotations for future deliveries on the Exchange fluctuated during July as follows: Latest High Low September............. 1.89 1.83 1.85 December............. 1.97 1.90 1.95 Januarv................. 1 93 1 86 1.92 March................... 196 1.88 1.91 Mav...................... 1.98 1.92 1.95 Julv....................... 2 03 1.97 1.98 September............. 2.04 2.01 2.03 Stocks: Stocks in the United Kingdom, United States, Cuba, Java and European statis tical countries as reported September 26th were 6,009,000 tons as compared with 6,541,000 tons in 1933 and 7,001,000 tons in 1932. Philippine Sales: As the result of uncer tainty regarding deliveries, no business in Phil ippine sugars was reported in New York for the month under review. Local Market: During the first week of the month under review, there were buyers for export of centrifugals at P6.00 per picul. How ever, owing to the waning interest of both buyers and sellers, very little business was done during the month. Buyers for local consumption in creased their prices to P6.20 per picul during the latter part of the month. On the 13th of the month, Governor General Frank Murphy announced the Presidential proclamation applying the A.A.A. to the Phil ippines as of September 12. The necessary rules and regulations governing the payment of the processing, floor stocks and compensating taxes on sugar processed and consumed in and/or exported from the Islands are being awaited by the industry and trade. Philippine Exports: The sugar exports for the month of September as reported to us by private sources amounted to 90,994 long tons of centrifugal sugar and 1,745 long tons of refined sugar. The aggregate exports for the eleven months of the current crop year follow: Long Tons Centrifugal........................................... 1,194,472 Refined................................................ 60,412 Total .............................................. 1,254,884 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL