Review of the Hemp Market

Media

Part of The American Chamber of Commerce Journal

Title: Review of the Hemp Market
Creator: Spellman, L. L.
Language: English
Year: 1933
Rights
Fulltext: 22 THE AMERICAN CHAMBER OF COMMERCE JOURNAL November, 1933 Passenger departures from Manila for Sep tember 1933 show a decrease from last month’s figures in both first and intermediate classes— first class business showing a decrease of 29% and intermediate class a decrease of 22%. Third class departures are the same as last month. Compared with departures during September 1932, this year’s figures show a decrease of 12% in first class business and an increase of 52% in intermediate class. September 1933 third class business is down 9%. The following figures show the number of passengers who departed from the Philippine Islands during the month of September 1933: China and Japan................... 121 174 Honolulu.................................. 4 3 Pacific Coast.......................... 31 37 Europe via America.............. 6 6 Straits Settlements and Dutch East Indies............ 18 (i Europe and Mediterranean Ports beyond Colombo. ... 3 35 America via Suez................... 1 1 Australia.................................. 0 () Third 272 14 42 0 0 9 0 0 Totai.................................... 184 262 337 CHARTERED BANK or ,N“%• cah“.nta"al,a Capital and Reserve Fund............................................. £6,000,000 Reserve Liability of Proprietors... ......................... 3,000,000 MANILA BRANCH established 1872 SUB-BRANCHES AT CEBU, ILOILO AND ZAMBOANGA Every description of banking business transacted. Branches in every important town throughout India, China, Japan, Java, Straits Settlements, Federated Malay States. French Indo-China, Siam, and Borneo; also in New York. Head Office: 38 Bishopsgate, London, E. C. C. E. Stewart. Manager, Manila REVIEW OF THE HEMP MARKET By L. L. Spellman International Harvester Company of Philippines The following report covers the various hemp markets for the month of October with statistics up to and including October 30th, 1933. In Manila: The market opened firm enough with exporters buying all that was offered, but at the same time there was not a great deal of competition. Prevailing prices were: E, 1*12.00; F, P10.50; G, P5.50; II, P5.25; I, P7.75; JI, P6.50; S2, P7.75; S3, P6.25; J2, P5.25; K, 1’5.00; LI, 1’4.50; L2, 1’4.00; Ml, 1’4.25; M2, 1’3.75; DL, 1’3.50; DM, i’2.75. By the middle of the month the market was quiet but steady. Exporters were not at all anxious to buy and a great deal of the free hemp was going to speculators at about the following prices: E, 1’11.50; F, 1’10.50; G, 1’5.50; II, 1’5.25; I, 1’7.50; JI, 1’6.25; S2, 1’7.50; S3, 1’6.25; .12, 1’5.25; K, 1’4.75; LI, 1’4.00; L2, 1’3.75; Ml, 1’4.00; M2, 1’3.50; DL, 1’3.50; DM, 1’2.75. The month closed with the market rather weaker with sales being made at E, Pl 1.25; F, P10.25; G, 1’5.25; II, 1’5.00: I, 1’7.25; JI, 1’6.00; S2, 1’7.25; S3, 1’6.00; J2, 1’5.00; K, 1’4.75; LI, 1’4.00; L2, 1’3.50; Ml, 1’4.00; M2, 1’3.25; DL, 1’3.25; DM, 1’2.50. Dealers in the Bicol provinces were inclined to pay higher prices and were, no doubt, influenced by the small receipts in Sorsogon, Albay and the Camarines. To offset this, receipts in the Davao district continue to run heavy and there is undoubtedly a large supply of unsold hem]) in the hands of producers and dealers. Prices for Davao fiber range from 50 to 75 centavos a picul higher than ordinary fiber. The I’. K. Market: This market opened quiet. There was a fair demand for distant shipment but manufacturers were evidently not buying and the earlier positions were entirely neglected. Sellers were offering at E, £27.0; F, £25.10; G, £15.15; II, £15.10; I, £19.10; JI, £17.0; 82, £19.10; S3, £17.5; .12, £15.10; I<, £14.15: LI, £13.10; L2, £12.10; Ml. £13.10; M2, £12.5; DL, £12.0: MD, £11.0. There was an occasional lot of high grade sold and a fair amount of trading in the medium and lower grades through the month. By the 15th prices had changed very little, but toward the end of the month trading slackened off and prices declined slightly. The end of the month found sellers asking J2, £15.0; K, £14.10; LI, £13.0; L2, £12.10; Ml, £13.10; M2, £12.5; DL, £12.0; DM, £11.0. The V. S. Market: 'This market opened dull with sellers on the basis of F, 5-3 8 cents; 1,4-1 4 cents; JI, 3-5 8 cents. Buyers remained scarce and by the middle of the month the ex porters were anxious to make sales and were willing to shade prices. Ilousemarks were being offered freely at E, 5-3 4 cents; F, 5-3/8 cents; G, 3-3 8 cents; I, 4-1/8 cents; JI, 3-5, 8 cents Pampanga Bus Company, Inc. i Bus service from Manila to all Points I North in the Provinces of Bulacan, Pampanga, Bataan, and Tarlac. I Busses leave Manila station, corner of Azcarraga and Sto. Cristo Streets, every 15 minutes ‘ Careful Drivers-Reliable Service 1 Main Office: Manila Office: San Fernando, Pampanga 324 Kneedler Bldg. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL November, 1933 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 23 with Davao hemp from 1/8 cent to 1/4 cent higher. The month closed with the market, dull and buyers not interested. Nominally prices had declined about 1/8 of a cent on the average, but in reality hemp could be purchased at least 1/4 of a cent below prices asked at the first of the month. The Japanese Market: This market re mained dull and inactive throughout the month with buyers taking full advantage of conditions in London and New York. They bought some hemp but only at prices below replacement value. Maguey: This fiber was rather neglected throughout the month. There is still no demand for Northern Maguey due to the low prices of Sisal, and oply an occasional sale of Cebu. Nominal price for No. 2 Cebu was P4.00 a picul and No. 3 was P3.50. It is understood that some of the Cebu houses were paying slightly better prices. Production: Receipts continue heavy and average throughout the month 27,250 bales per week. This is more than the world is con suming at the present time. Also, there is a gradual increase in province stocks, especially in Davao, which does not tend to help the situa tion. Freight Rates: There was no change in freight rates. The U. K. conference notified shippers that they contemplated making an advance but evidently the matter has been abandoned for the present. Cigars: Shipments during the ■ month to the United States continued to increase in comparison to the same month of 1932 and if nothing unforeseen happens it may be expected that by the end of the year the volume of last year’s shipments may be reached. However, the total value thereof will be much below the 1932 figures. Comparative figures are as follows: Period Cigars October, 1933................................. 28,358,346 October, 1932................................. 20,202,964 January—October, 1933................ 143,693,067 January—October, 1932......... 149,721,321 THE MANILA HOTEL LEADING HOTEL IN THE ORIENT Designed and constructed to secure coolness, sanitation and comfort under tropic climatic conditions Provides every Western convenience combined with every Oriental luxury Finest Dance Orchestra in the Far East Management ■ HUBERT C. ANDERSON 994,181 719,313 Statistics: The figures below are for the period ending October 30th, 1933: Manila Hemp 1933 Bales 1932 Bales On January 1st................... 167,007 111,417 Receipts to date................. 986,089 748,580 1,153,096 859,997 Shipments to ll K................................. 217,164 138,044 Continent......................... 151,293 96,231 U. S.................................. 257,864 181,467 Japan................................ 311,243 255,929 Australia........................... 12,231 12,269 Elsewhere......................... 22,886 13,373 Local consumption............. 21,500 22,000 TOBACCO REVIEW By P. A. Meyer Alhambra Cigar and Cigarette Mfg. Co. THE YOKOHAMA SPECIE BANK - LTD. ==^=^== (ESTABLISHED 1880) HEAD OFFICE: YOKOHAMA, JAPAN Yen Capital (Paid Up) - - - - 100,000,000.00 Reserve Fund .... 121,250,000.00 Undivided Profits - - - - 6,869,038.82 MANILA BRANCH 34 PLAZA CERVANTES, MANILA S. DAZAI Manager Telephone 23759—Manager Telephone 23755—Account <t Cashier Telephone 23758—Export 4 Import Dept. Telephone 23768—Deposit A Remittance Dept. Raw Leaf: No transactions of im portance were re ported. Export of leaf shows the fol lowing figures: Rawleaf, Stripped Tobacco and Scraps Kilos Australia........................... China............................... France............................... Gibraltar........................... Japan............................... Java.................................. North Africa................... North Atlantic (Europe) Spain................................. Straits Settlements......... Tonkin............................. United States.................. 2,850 4,258 229,632 67,460 177 630 67,286 13,231 1,063,131 476 53 88,862 1,538,046 Quality Printing is as essential to your business as well-tailored clothes are to the successful salesman. Attractive letterheads, bill heads, cards, envelopes, labels, etc., are silent but powerful salesman. Why not let them carry your message in the most effective way? The McCullough Imprint ensures quality printing and all that it implies. McCullough service means expert supervision and the intelligent hand ling of your printing problems. Whatever your printing needs may be, you are assured the utmost satisfaction when McCullough does the job. May we serve you? McCullough printing co. Division of Philippine Education Co., Inc. 101 ESCOLTA Phone 21801 MANILA, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL