Manila hemp

Title

Manila hemp

Creator

Robertson, H.

Language

English

Source

The American Chamber of Commerce Journal Volume XXV (Issue No.10) October 1949

Year

1949

Rights

In Copyright - Educational Use Permitted

Fulltext

October, 1949 AMERICAN CHAMBER OF COMMERCE JOURNAL 453 Manila Hemp By H. Robertson Vice President and Assistant General Manager, Macleod and Company of Philippines THIS review covers the period of August 16 to September 15. During these thirty days, the market ruled quiet but inactive. Closing values were somewhat under the highs for the period, due to the tendency of Philippine sellers to press sales on the prevailing thin market. World demand for abaca at present prices is strictly limited. In view of the continued poor de mand for rope, United States consumers feel that prices are too high to justify purchases except for their immediate requirements. Japan is still out of the market except for small quantities of particular grades. SCAP may re-enter the market in October. The dollar shortage precludes any real demand from the sterling area, although small ECA purchases were recorded during the period. Locally, prices continue to run higher than out side demand warrants. Expected lower production for October and November probably accounts for this. It is apparent that 1949 production will run 90,000 to 100,000 bales below that of 1948. Philippine provincial quotations, September 15: Per Picul Basis Loose Davao I . . . . P59.00 — Up P4.00 per picul since August 15. Davao Jl . . . . 57.00 — Up 3.00 ” ” ” Davao G . . . . 48.50 — Up 1.00 ” ” ” Non-Davao I . . P56.00 — Up 6.00 Non-Davao G , . 39.00 — Up 3.00 ” ” ’’ Non-Davao K . . 24.00—Unchanged ” ” ” New York quotations, September 15: Davao I . . . . 26% ■} -Up ’ 2<‘ per 1’:). since August 15. Davao Jl . . . . 26. -Up % ” Davao G . . . . 23% -Up % ” Non-Davao I . . 26% -Up Non-Davao G . . 19% -Up 1% Non-Davao K .. 15(* -Up % Production for August, 1949, reached only 31,666 bales. This represents a decrease of 3,959 bales from July, 1949. Non-Davao August balings totaled 16,936 bales — down 2,267 bales from July; and Davao, 14,730 bales — down 1,692 bales from July. August production was the lowest recorded for any month since November, 1948.Exports for August amounted to 24,880 bales. Production for the first eight months of 1949 was 348,932 bales, against ex ports for the same period of 320,750 bales. January/August production for 1949 was 87,031 bales lowfer than production for the same eight months of 1948. PHOTOGRAPHIC C H RI ST M A S CARDS Place Your Order Now Avoid Rush MARY OFTEDAHL 321 A. Mabini ALMAR STUDIO Tel. 5-33-26 AMERICAN INTERNATIONAL UNDERWRITERS FOR THE PHILIPPINES, INC. ARTHUR H. HENDERSON President Seventh Floor, Wilson Bldg., Manila Telephone: No. 2-98-86 Cable: “Underiters” Managers in the Philippines for: — AMERICAN INTERNATIONAL ASSURANCE CO., LTD. COMMERCIAL CASUALTY INSURANCE COMPANY THE EAST AND WEST INSURANCE COMPANY FIREMEN’S INSURANCE COMPANY THE FULTON FIRE INSURANCE COMPANY GRANITE STATE FIRE INSURANCE COMPANY THE HANOVER FIRE INSURANCE COMPANY MILWAUKEE MECHANICS’ INSURANCE COMPANY NATIONAL UNION FIRE INSURANCE COMPANY NEW HAMPSHIRE FIRE INSURANCE COMPANY PACIFIC NATIONAL FIRE INSURANCE COMPANY SECURITY INSURANCE COMPANY Fire and Allied Lines CASUALTY — AUTOMOBILE — MARINE REINSURANCE FOR Quality ENGINEERING SUPPLIES... WITTE Diesel Engines ATLAS Imperial Diesel Engines U. S. Electric Motors MACWHYTE Wire Rope CUTLER-HAMMER Electrical Controls BYRON-JACKSON -Pumps JENKINS Valves “HOOPERWOOD” Canvas “FILTROL” Filtering Clays BALDWIN Locomotives and Testing Machines G. R. COLEMAN & CO. — Textile Machineries MERRILL & CO. — “Merrillite” HARDINGE & CO. — Ore Grinding and Reduction Mills E. J. LONGYEAR & CO. — Drilling Equipment STEPHEN-ADAMSON MFG. CO. — Conveyors, Ele vators, etc. ELLIOT CO. — Steam Turbines and Generators and many others Backed by service and a large stock of spare parts Your Inquiries Are Invited ATKINS, KROLL & CO., INC. MACHINERY DEFT. Myers Bldg., Port Area Manila Tel. 2-94-67

pages

453

Media