Copra and its products

Title

Creator

Seidenspinner, E. A.

Language

English

Year

1928

Rights

In Copyright - Educational Use Permitted

Fulltext

30 THE AMERICAN CHAMBER OF COMMERCE JOURNAL April, 1928 COPRA AND ITS PRODUCTS By E. A. SEIDENSP1NNER Vice-President ami Manager, Copra Milling Corporation 1 TOBACCO REVIEW By P. A. Meyer nd Cigarette ring Co. With continued light arrivals of copra, the local market maintained its independent strength throughout the month of March. Prices at Cebu and Manila as a ■ result are much over consuming market pari ties. With the Easter Holidays during early April, there is little hope for improved pro duction during that month and it will prob ably be well into May before the local shortage is relieved. Stocks at Manila are very light, but the majority of local crushers have suspend ed operations, thus relieving buying pressure for the time being. Total receipts at Manila for the month of March were 157,409 sacks which is 70,000 sacks less than for March, 1927. We do not anticipate higher prices for copra during April for they are now in excess of the oil value, but it is probable that any decline will be slight. Latest quotations follow: San Francisco $.05-3/16 nominal; LondonCebu, £27/6/0: F. M. M., £27/0 0; Manila, resecada, 1*13.25 to 1’13.50. China...... Hongkong. Raw Leaf: Export shipments have in March maintained a sa tisfactory volume. Re ports about the new Cagayan and Ysabela crops in the field indi cate that the late and heavy rains caused some damage in certain dis tricts. The local market in leaf tobacco is quiet. March exports were as follows: Leaf Tobacco and ................... <r<1 5 13,988 ................... 63,112 Japan............................... Java.................................. Korea............................... North Africa................... North Atlantic (Europe). Spain................................ Straits Settlements......... United States.................. 20,701 1,243 63,784 12,090 157,582 1,269,628 2,471 175,094 1,779,695 Cigars: The United States have during March taken about the same number of cigars as in February. Pending orders on hand in Manila factories do not warrant any expecta tions for a substantial improvement in the near future. Comparative figures for cigar shipments in numbers of cigars to the United States are as follows: March 1928, 15,821,696; February 1928, 15,310,447; March 1927, 14,151,294. BAGUIO NIGHT TRAINS BI-WEEKLY NIGHT TRAIN SERVICE Commencing March 5, two NIGHT SPECIALS will be run every week until further notice. COCONUT OIL With almost all of the local mills on part time operations during the month of March, there has been little selling pressure from the Phil ippines to depress the already weak U. S. market. With the U. S. crushers temporarily relieved on nearby positions, they advanced their ideas of price for .May-June deliveries. Large con sumers appear to be in a comfortable position and will not entertain bids at better than 8-1/8 cents f.o.b. Coast, At the same time demon strating a complete lack of interest for any ship ment beyond June. Scattered tank car trading passed at 8-1/8 to 8-1/4 cents f.o.b. West Coast and smaller buyers are content to purchase from hand to mouth pending lower prices which are predicted for the summer months. With ample stocks of competing fats and oils, an upward trend for large volume trading does not seem possible. Latest cables follow: San Francisco, $.08-1/8 f.o.b. tank cars; New York, $.08-3/8 c.i.f. nominal; London, £39/19/0 nominal; Manila, P.36-1/2 to P.37 per kilo. Philippine stocks of this item continued low due to suspended operations on the part of the mills. London and Hamburg quotations ad vanced during March and at one time it was reported that £9/10/0 c.i.f. Hamburg for the May-June position was possible. Later during the month the market eased away with pressure from resellers and is now advised at £9/5, 0 c.i.f. London or Hamburg. Latest cables follow: San Francisco, $38.50; Hamburg;London, £9/5/0; Manila, buyers, P64.00 to 1’66.00; Sellers, P68.00 to 1’72.00. Manila, April 4/1928. General Leonard Wood A scholar, a soldier, a statesman, A ruler without the red; A man whose life meant service To country, to flag and God. Beloved by all for his kindness. Their gentle warrior bold; This leader of men and of nations, This hero with heart of gold. He lives in the heart of his countrymen, For patriots like him are too few; His work will live on forever, Because it was strong and true. —Agness Greene Foster. Mrs. Agness Greene Foster is a Chicago reader of the Journal. She writes and lectures.—ED. One night special will leave Manila every Monday night to return from Bauang Sur and Damortis the following Wednesday. Another night special will leave Manila every Friday night to return from Bauang Sur and Damortis the following Sunday at usual scheduled hours. Auto Connection at Damortis with the Benguet Auto Line over the worldfamed Zigzag mountain road. ALL NIGHT TRAINS have standard sleeping cars with buffet service and all conveniences of de Luxe travel. Also carry ordinary first and third class coaches. Both single and round trip tickets to Baguio may be purchased at stations between Manila and San Fabian where the Baguio Night Train is scheduled to stop. All classes of tickets, one way or round trip, including kilometreage, are good on any night train, either to Baguio or to any station shown on the schedule for night train. Baggage, Express Parcels and C.O.D. shipments will be handled to or from Baguio and Stations shown on schedule. Bookings in Manila for sleeper berths at Tutuban Station or at Downtown Office, 519 Dasmarinas, and in Baguio at Benguet Auto Line Office. RATES Manila Baguio, one way 20 days, Manila-Baguio, round trip 90 days, Manila-Baguio, round trip Manila-Damortis, one way 20 days, Manila-Damortis, round trip 90 days, Manila-Damortis, round trip 90 days, Manila-Bauang Sur, round trip Sleeper berth, each way 1st class P17.10 Private passenger cars can be obtained from the Benguet Auto Line at following rates: Between Baguio and Damortis, per trip 5-passenger car Between Baguio and Damortis, per tri 7-passenger car P25.00 P37.50 For further particulars inquire from the office of the Traffic Manager, or call 6p INFORMATION, Telephone No. 4-98-61, or Downtown Office, Telephone No. 2-31-83. MANILA RAILROAD COMPANY 943 AZCARRAGA MANILA, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

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