Manila hemp

Title

Manila hemp

Creator

Robertson, H.

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No. 8) August 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

300 AMERICAN CHAMBER OF COMMERCE JOURNAL August, 1948 MAGNOLIA WHITE WESTERN AZALEA CELADON GREEN WATERLILY GREEN BONE IVORY FORGET-ME-NOT BLUE NAUTICAL BLUE PALOS VERDE BLUE BERMUDA BLUE MING GREEN MOUNTAIN GREEN SHAMROCK CITRON make about 280,000 short tons available for export, of which it is estimated that 210,000 short tons have already been shipped. There are heavy bookings for the next two months, and by the middle of September the export of 1947-48 sugar should be practically finished. It is perhaps too early to make a reliable forecast of the 1948-49 Philippine crop, but a preliminary estimate places it somewhere between 675,000 and 725,000 short tons. modern, brighter DECORET ENAMEL COLORS. .. re-styled by a world-famous color authority to harmonize with the pattern of living in the Philippines. Manila Hemp By H. Robertson Vice President and Assistant General Manager, Macleod and Company of Philippines THE period under review covers June 16 to July 15. On June 16, SCAP bought approximately 15,000 bales of hemp at prices slightly lower than those paid by them on June 2. At the same time, they announced officially that they would be out of the market for some time to come. This announcement, coupled with the fact that they purchased less hemp than generally anticipated, touched off what has developed into an extremely severe decline in prices. For some time past, it had been apparent that United States consumers were oversupplied, due to the declining & r MELLOW AS A MAGIC MELODY You should NEW COLORS ’ AT YOUR DEALER! CALIFORNIA BUTTERCUP TIGER LILY CHINESE RED HOLLY RED COCOA BROWN also WHITE BLACK DRAINBOAT WHITE AND WHITE UNDERCOAT FULLER PAINTS 33 FINE BREWS BLENDED INTO ONE GREAT BEER Naturally we’re proud to distrib ute a beer with the glorious, mellow- \ smooth flavor of Pabst Blue Ribbon —superb taste achievement of 104 years of the Art of Brewing... plus the modern Science of Blending. Hotpoint radios make tuning in A real nice treat on ‘'Spell to Win” Over KZRH, let’s make it a date Every Sunday night at eight. AMERICAN FACTORS m lNC. . ..MARY BACHRACB BLDG. 25thST. PORT TFl?~^S-’2 , —Ribbon Sole Distributor: F. E. ZUELLIG, INC. 55 Rosario St. Tel. 2-95-43 Manila August, 1948 AMERICAN CHAMBER OF COMMERCE JOURNAL 301 demand for rope and twine; however, confronted with the heavy SCAP buying, the United States market had main tained an outwardly steady appearance—but with no buy ing interest. Just as soon as sellers began to press sales and reduce prices, United States consumers withdrew com pletely and prices broke sharply. Continued selling pres sure and a complete lack of interest drove prices down ap proximately PIO to P12 per picul for Davao grades, and P5 to P6 per picul for Non-Davao grades. Spot offerings in New York by overloaded consumers had an additional disturbing influence. At the time of writing the market is still weak, with no demand whatsoever. The following comparisons will give the reader some idea of the severity of the decline during the past 30 days: Price Price Decline De%ne Da/I — per picul basis on 6/16 7/15 Picul loose................................. P63.50 P52.50 PH 50 18% Da/JI................................... 62. 50. 12. 19 Da G.................................... Non-Davao/I/picul basis 53.50 43.50 10. 19 loose................................. P59. P53. P 6. 10% Non-Davao /G.................... 42. 38. 4. 10 Non-Davao K................... 29. 23. 6. 21 On the new basis of values, United States buyers continue apathetic and there is no sign of SCAP coming in this month, although it is possible they will buy during August. European demand continues to be very limited due to exchange difficulties. The local statistical position is healthy, and shipments for the first half of the year were in excess of production. There is little doubt that once the present inventory position of United States manufacturers is adjusted to present consumption levels, demand will pick up. Pressings for the month of June were 49,607 bales—a decrease of 9,233 bales, as compared with May, and the lowest figure since January, 1947. Non-Davao, 31,942 bales—down 4,740 bales; and Davao, 17,6(j5 bales—down 4,493 bales. The total pressings for the first half of 1948 were 362,246 bales, as compared with 381,584 bales for the first half of 1947. Tobacco By the Conde de Churruca President, Manila Tobacco Association ON July 22, Secretary of Industry and Commerce Placido Mapa invited leading representatives of the tobacco industry in the Philippines to his office with the object of establishing a basis for the rehabilitation of the industry. Besides Secretary Mapa, the Collector of Internal Revenue, Mr. Meer, the Director of Commerce, Mr. Mendrnueto, the Manager of the National Tobacco Corpora tion, Mr. Perez de Tagle, and the President of the Manila Tobacco Association were present; Congressman Do mingo Paguirigan of Isabela, and the Governor of the same Province, the Hon. Sil vino Gumpal, also came to confer with the Secretary. Representatives of practically every •important factory and leaf-tobacco dealer were present at the conference. The keen spirit of concern demonstrated by Secretary Mapa, and the genuine desire to cooperate with the Govern ment shown by the tobacco men, were the features of the conference. The problems taken up were: (1) The possibility of reestablishing the export trade in cigars. (2) The necessity of producing bigger crops and reducing prices to promote the export of leaf tobacco. Complete Automotive REPLACEMENT PARTS Factory Specifications JB AUTOLITE CARTER Batteries Generators Starters Ignition Parts Wire and Cable Carburators Repair Kits Gasket Sets Fuel Filters Parts — ACCESSORIES - SPECIALTY EQUIPMENT CORP. 223 13th ST., PORT AREA, MANILA TEL. 2-63-18 GENERAL MOTORS DIESELS SALES AND SERVICE TOUGH construe pendable, low-cost power. GM diesels, be cause of their economical and dependable opera tion, arc being used more and more in construc tion and industrial applications. Let us give you the facts about these hard-working, husky GM Diesel. Our General Motors Diesel Engine Department is equipped a complete with factory testing facilities and itock of factory guaranteed parts. PHILIPPINE ENGINEERING CORPORATION 936 RAON, MANILA TEL. 2-81-97 Branches: GM GENERAL MOTORS DIESEL POWER Cebu, Iloilo. Cotabato

pages

300-301

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