Lumber review
Media
Part of The American Chamber of Commerce Journal
- Title
- Lumber review
- Creator
- Fischer, Arthur F.
- Language
- English
- Year
- 1934
- Rights
-
- Fulltext
- June. 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 Stock * on Hand in Manila and Cebu— Beginning of Month............................. 6,290 End of Month........................................ 10,860 Desiccated Cocomut: The desiccated market was good during May. Prices ranged al 7-1/2 cent * or better e i. f. New York and owing to seasonal rummer requirement * , demand was brisk. Toward the end of the month, however, the market commenced to ease off, with the likelihood of a lightly lower price * in the future. Local mill * were operating at fair capacity. Ship ment * for the month totalled 2,008 metric ton * . General: Anyone who would try to ac curately predict the future of copra and coconut oil today would be a very brave person. One thing ia certain—the excise tax is effective and will remain effective—at least until the next session of congreaa in 1935, and probably to a limited extent at least beyond then. It is generally felt that with the heavy copra months of the year coming on, the reduced demand for oooonut oil in the United State * will be unable to take care of the arrival * and will multi n considerable selling pressure at slightly lower prioe * than those pertaining today. The un expected strength shown in the European market reoently, however, may, if continued, absorb a good deal of Philippine copra and help maintain price * . More particularly will this be so if freight rates to Europe are reduced a * seems entirely possible. Producers cannot stand copra prices much lower than those pertaining. There fore, whatever drop there will be In the market will not be a very heavy one. On the other hand, prospect * for any improvement appear to be very remote and will depend largely on a world-wide rise in all staple commodities. LUMBER REVIEW By ARTHUR F. FISCHER Director o/ Forestry During February, there was steady demand of Philippine lumber and timber, partic ularly abroad. The total lumber and timber ex port * during the month under review was 6.596,592 board feet with customs-declared value of F292.021 as against 3,099,016 board feet with customs - declared value of F78.007 for the corresponding month last year, or an increase of 113%. Shipment * to Japan declined slightly as com pared with February of last year, there being only 2,516,864 boarti feet exported to that coun try during the month under review as against 2,523,648 board feet for the corresponding period in 1933. However, Japan still maintain ed it * place a * the largest consumer of Philippine timber. Demand in the United States conti nued active. There were 2,263,312 board feet shipped to this market during February, 1934, a * against only 106,632 board feet for the same month in 1933, or an fncreaae of 1258%. The above shipment for February la about the maximum amount that could be shipped each month to the United State * under the National Recovery Act, the lumber quota al lotted to the Philippines under the said Act being only twelve to fourteen million board feet for six months, beginning next June 1st. As may be seen from the comparative tablee below, the Philippine lumber trade with the other countries also registered considerable improvement. China's consumption of Philip pine lumber and timber during February in creased 3251% as compared with the corre sponding period last year. Great Britain 162%, Australia 121 ro ana Hawaii 55%. Lumber shipment * to Netherlands, Hongkong, Portu guese Africa, British Africa and Portuguese China during February under review aggregated 315,456 board fast white for the corresponding period in 1933 no lumber exportation to these countries were registered. Demands in new markets are, of course, particularly encouraging at this time when the limitation of lumber and timber exportations to the United States under the National Recovery Act is about to take effect. But it must he stated here that the exportation of lumber is especially handicapped by present freight rates, when the value of the pound sterling was low in terms of the United Slate * dollar, the freight rates to Europe and South Africa from the Philippines were so re duced as to offset the loss due to the unfavorable exchange. However, when the dollar depre ciated the rates were never readjusted so that at present the freight almost equals the price of the lumber in some esses At existing rates, it is cheaper to ship lumber to Europe via the Panama Canal than by way of the Sues, although the former route is longer. Mill production increased 62% a * compared with February of last year, but despite this increase lumber inventories practically remained the same, evidencing increased movement of stocks. Prices, however, showed practically no improvement from the previous month. The following statement * show the lumber and timber exports, by countries, and the mill production ana lumber inventories for the month of February, 1934, as compared with the corre sponding month of the previous year. Lumber and Timber Brporta Jar February 1934 Destination CustomsBoard Feet Declared Value United States..................... China.................................... Australia............................... Great Britain..................... Netherlands........................ Hongkong............................. Portuguese Africa............. British Africa.................... Hawaii.................................. Portuguese China............ Italy...................................... Total........................... •2,516^64 F 47,472 2,263,312 147,092 582,576 29,266 467,672 17,215 437,568 34,546 100,064 1,753 94,552 3,611 67,840 4,979 49,184 3,565 13,144 2,193 3,816 329 6,596,592 F292.021 1933 Destination CustomsBoard Feet Declared Value Japan.................................... United States.................... China.................................... Australia............................... Great Britain..................... Netherlands........................ Hongkong............................ Portuguese Africa............ British Africa.................... Hawaii.................................. Portuguese China............ Italy...................................... Total........................... 3,099,016 F 78,007 2,523,648 166,632 17,384 211,152 167,056 F 41,435 11,509 1,661 8,606 13,095 8,480 1,329 4,664 372 NOTE:—* This represent * mostly solid log mate, that is, 424 board feet to a cubic meter. Baaed an 40 MiVe Jar the Month oj February Lumber Deliveries from Month Mills 1934 1933 February......................... 15,137,531 9^43,974 Month Lumber Inventory 1934 1933 February......................... 25,272^293 25^07,257 Month Mill Production 1934 1933 February.................... 15,119,963 9.336J63 NOTE: Board fest should be used. TOBACCO REVIEW By F. A. Mktxr Alhambra Cigar anA Curette Hjg. Co. for bids calling for 8 mill inn kite* of FhQtpptae tobacco. Trading in local and export grades was quiet. Export during May was a* follows: was quiet. Export during May was a * follows: eairr * TUtmutSaf Australia.................................................... 1,270 China.......................................................... 154M6 Csechoalovakia........................................ 384 Germany.................................................... 27 Gibraltar................................................... 9,720 Hongkong................................................... 15,655 Japan.......................................................... 3,120 Java............................................................. 840 Manchukuo............................................... 30 North Africa............................................. 8^570 North Atlantic (Europe).................... 176,103 Strait* Settlements................................ 506 United Stales.......................................... 29,791 261,174 April............................................................ 1,088402 March.......................................................... 1H,621 Cigars: Comparative figures for shipment * to the United States are: May, 1934............................................... April, 1934............................................... March, 1934.......................................... 15,970,001 19,668,451 17,549,132 Why He Couldn't Pay A collecting agent in Manila received ths fol lowing: “Sir: “I acknowledge receipt of your tettm remind ing me of my account in Ute Pharmacia San Fernando, of the total amount of F16.94 plus interest. “Without any further contempt, 1 accepted the balance due a * an obligation to my part. I have the honor to inform that office that 1 be given ample time eoough to provide mo and to make a recovery upon my will and Hfe so as to overcome the great handiou) that creah me down with unlimited pressure of insufficiency during the past period. "However, 1 had long expected to resell erm a simple cash payment for that obligation and to settle the matter, even if your notfoe did not come for Inquiry. Incidentally 1 was almost tampered by mirfartune whenever 1 tried to ac complish my reUo because of ths presence gnevanoes as a rumor. And with nothing etoe tn listen for its fatal effect it to thsrWore an un avoidable estate, and my destitute family sa crifice that romance m ths atmosphere of drought. ” Tiers to a little more, but isn't it enough tn my, Aren t we all?