Tobacco review

Title

Tobacco review

Creator

Meyer, P. A

Language

English

Source

The American Chamber of Commerce Journal Volume 7 (Issue No.9) September 1927

Year

1927

Rights

In Copyright - Educational Use Permitted

Fulltext

September, 1927 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 23 acted, the market ruling dull with a drooping tendency, prices touching the lower level of D, 17-3/4 cents; E, 16-3/4 cents; F, 16-1/4 cents; G, 9-3/4 cents; H, 9-1/2 cents; I, 14-1/2 cents; JI, 11-5/8 cents; SI, 15-7/8 cents; S2, 13-7/8 cents. At the close of August a steadier market ruled, buyers taking more interest but closing values remained without appreciable change. Business throughout the month has been within a small compass and prices below those ruling in Manila. Manila market for U. S. grades opened firm D, 1*43; E, 1’40.4; F, 1’39; G, 1*22.4; H, 1*21.4; I, 1*34; JI, 1’27.2; SI, 1*38.2; S2, 1*33.4; S3, 1*27.2 and round about this range of prices dealers contracted for most of their August supplies. The dull tone in New York was reflected here in the lack of export houses to go on buying at last prices and market declined to a basis of D, 1’42; E, 1’39.4; F, 1’38; G, 1*21.4; H, 1’20.4; I, 1*33.2; JI, 1’26.2; SI, 1’37; S2, 1’32.2; S3, 1’26.2. Little business, however, was transacted on the decline and market closed fully steady to firm at these prices. U. K. Grades: London ruled quiet but steady at the opening of August, quotations being J2, £43.10; K, £42; LI, £41.10; L2, £40.10; Ml, £40.10; M2, £37; DL, £37; DM, £30, thete being rather sellers at these prices for AugustOctober shipment. By the middle of the month a firmer tone set in with market turning to buyers at last prices. A smart demand was experienced for a short spell with a fair business passing at J2, £44; K, £42.10; LI, £41.10; L2, £40.10; Ml, £40.10; M2, £37; DL, £37. A fair business also passed in better qualities at satisfactory prices compared to U. S. quotations. Market for the balance of the month ruled steady with business done up to J2, £44.10; K, £43; LI, £42; DL, £38; other grades remaining unchanged in price. Closing values were J2, £44; K, £42.15; LI, £42; L2, £40.10; Ml, £40.10; M2, £37.10; DL, £37.10, tone being steady. Manila market opened firm J2, P21.2; K, 1*20.4; LI, 1’19.6; L2, 1’19.2; Ml, P19.2; M2, 1’17.4; DL, P17; DM, 1’13.4. Very little U. K. hemp fame in to the Manila market and values practically unchanged throughout the month, business being done however up to J2, 1’21.3; K, 1’20.6; LI, 1*20; L2, 1’19; Ml, P19; M2, 1’17.4 with single lots of desirable grades at 2 to 4 reales premium on these prices. Transactions have been very limited and prices are firm at the close on a basis of J2, 1*21; K, P20.2; LI, P19.6; L2, 1’18.6; Ml, 1’18.6; M2, 1*17.4; DL, P17; DM, P14. A feature to note is the reduction of Daets produced on account of the high price ruling on damaged grades. Japanese demand during August has not been active. Freight Rates: Unchanged. Statistics: We give below figures for period extending from August 2nd to August 29th, 1927: 1927 1926 Stocks on Receipts t Stocks on January 1st... . o August 29th. . August 29th.. . . 112,382 836,973 152,555 153,181 863,274 165,244 Shipmen t s To the— To Aug. 29, 1927 Vales 30°1926 Vales United Kingdom............. Continent of Europe. . . . Atlantic U. S.................. U. S. via Pacific............. Japan................................ Elsewhere and Local. . . 210,618 87,140 178,802 83,467 167,094 69,679 177,121 118,994 225,649 112,035 157,078 60,334 796,800 851,211 I. Posner’s Official Road Guide of the Philippines for 1928 is off the press. A general map of the islands traces all the roads; there is also a complete railway map and a number index maps. It is a valuable guide, cost one peso; discounts to the trade. TOBACCO REVIEW By P. A. Meyer Alhambra Cioar and Cigarette Manufacturing Co. Shipments abroad follows: Raw Leaf: Export shipments maintain a satisfactory level. Also trading in local 'grades has shown continued activity during August. The earlier unfavorable crop reports, especially in regard to Cagayan and the lower part of Isabela province, are, unfortunately, being confirmed by subsequent inspections of leaf stored in the farmers’ houses, during August, 1927, were "North Coast Limited” “One of America's Fine Trains shows you the Cascade Mountains, the Rocky Moun tains and the Mission Range by daylight. From the main line of the Northern Pacific, travelers see 28 ranges of mountains, and the train rolls along 1406 miles of rivers—pictures of "startling beauty” all the way. The "North Coast Limited” is a new train—new engines one-third of a block long! New Pullmans, new observation cars, wonderful new type dining cars. We Meet All Boats at Victoria and Seattle A. D. Charlton, G. P. A., Poi ttand, Ore. R. J. Tozer, A. G. P. A., Seattle, Wash. W. H. Jaynes, G. A., Vancouver, B. C. E. E. Blackwood, G. A., Victoria, B. C. Northern Pacific Railway “First of the Northern Transcontinentals” ■r L' “! Belgium............................ 39,241 China.................................... 50,558 Germany.............................. 54,200 Hongkong............................. 19,853 Japan.................................... 82,650 Spain......................... 2,373,582 Straits Settlements............. 1,984 United States...................... 56,844 2,678,912 Cigars: The Philippine cigar situation in the United States continues very unsatisfactory, with signs for improvement lacking. Compa rative figures for the trade with the States are as follows: August, 1927........... 12,908,114 July, 1927................ 14,664,998 August, 1926............ 13,579,849 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

23

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