Lumber review for August

Title

Creator

Tamesis, Francisco

Language

English

Source

The American Chamber of Commerce Journal Volume 6 (Issue No.10) October 1926

Year

1926

Rights

In Copyright - Educational Use Permitted

Fulltext

28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1926 640,000 tons for the same month in 1925 and 850,000 tons in 1924. This may ac count for the decided improvement in the market for the month under review, as it is apparent that the surplus of visible stocks is disappearing at a satisfactory rate. It is believed in some quarters that the world’s invisible supplies are undoubtedly below normal, and that in spite of the ap parent large visible supplies, the total world’s supplies, visible and invisible, are not much larger than those of previous years. Quotations for futures on the New York exchange have steadily advanced during the month. These follow: High Low Latest December ........ ........ 2.90 2.59 2.88 January ........... ........ 2.91 2.63 2.90 March ............. ........ 2.83 2.60 2.83 July ................. ........ 2.98 2.91 2.98 September ....... ........ 3.06 2.99 3.06 Sales of Philippine centrifugals, near ar rivals and afloats, were made at prices ranging from 4.30(? to 4.65? landed terms. The market for refined has shown mark ed improvement, latest quotations ranging from 5.90? to 6.00? as compared with those of the previous month ranging from 5.60? to 5.70?. LOCAL MARKET: The local market for centrifugals has been quiet for the first half of the month, but steadied toward its close. Transactions of centrifugals were made at prices ranging from Pl 1.00 to P11.25 per picul. The market for muscovados has been quite active during the month, prices paid for No. 1 ranging from 6.50? to 7.50?, with 25? down per grade. Shipments of Philippine sugar to various LUMBER REVIEW FOR AUGUST By Florencio Tamesis Acting Director, Bureau of Foreetry The activities of the sawmill oper ators during the month of August were practically the same as those re ported in the month of July. In other words, the slacken ing of the lumbering activities due to the rainy weather is still manifest. But it can be seen from the following figures that the production and movement of lumber for this month are considerably greater than those of the TIMBER AND LUMBER EXPORT Destination United States ...................................... Japan .................................................... Australia .. ........................................... Great Britain ...................................... Netherlands ......................................... China .................................................... Italy ..................................................... Canada ................................................. Egypt ................................................... Other British ...................................... East Indies ...................................... Total ........................ 6,007,232 P431.582 4,128,064 P269.878 countries from January 1 to September 22, 1926, are as follows in metric tons: U. S. U- S. China & Pacific Atlantic Japan Total Centrifu gal .. 45,056 244,012 289,068 Muscova dos .. .. 62,045 62,045 Refined 1,645 .. 139 1,784 1(5,701 244,012 62,184 352,987 Negros in general reports favorable weather prevailing during the month, with plenty of sunshine and seasonable rains at intervals; in some localities, however, there has not been sufficient rain. With a con tinuance of favorable weather hope is ex pressed for another bumper crop on that island. In view of the expected large crop this coming season, milling will commence earlier this year than has been case in pre vious years. Some of the large centrals will begin grinding in October. Luozn also has had favorable weather, and it is expected a good crop will be har vested this season, although it may not be as large in certain districts as that har vested in the previous year. Work on the new mills is being pushed. The Bataan Sugar Company announced that their central at Balanga, Bataan, will be completed by next December, while the Central Luzon Milling Company which is erecting a central at Bamban, Tarlac, re ported that their mill will begin grinding next January. The Philippine Sugar Association had a very sucessful convention during the week of September 6 to 10. About 150 sugar men from the different sugar districts of the Islands attended. Many important pro blems affecting the sugar industry were discussed, and means of solving them re commended. Among the resolutions passed by the convention were: corresponding period last year. For ins tance the mill production reported from 33 mills for the month of August amount to 15,917,770 board feet; lumber shipment, 16,432,927 board feet; lumber inventory, 31,441,791 board feet as compared with 13,921,620 board feet, 14,066,293 board feet, and 37,292,298 board feet, respectively, for the corresponding month in 1925. The corresponding figures for the month of July of this year are as follows: mill production, 12,392,269 board feet; lumber shipment, 16,894,075 board feet; and lumb er inventory, 32,030,829 board feet. These figures indicate, as has been stated above, that the activities of the sawmills for the month of July were practically the same as those of August. The value of our lumber export for Aug ust is about P20.000 less than that of July, but about Pl62,000 greater than that of August of last year. The exact figures of our export for August of this year and August of last year are shown by the fol lowing table: 1925 August 1926 August Board Feet Value Board Feet Value 2,922,208 P263.226 1,803,272 Pl 72.984 2,024,176 ’ 76,506 1,043,464 22,810 676,280 67,423 524,488 27,964 288,320 16,407 53,000 5,273 49,184 4,270 12,720 1,100 43,672 3,652 13,922 1,836 3,392 100 10,600 900 636,424 34,008 30,104 3,003 (1) Urging the conversion of La Granja in Negros into an experiment station for the Philippine Sugar Association. (2) Requesting the legislature to renew the charter of the Bank of the Philippine Islands, provided 60 per cent of its capital be devoted to agricultural loans. (3) Asking the legislature to lift the ban on importation of foreign carabaos. (4) Providing for the study of sugar cane varieties giving the greatest yields. (5) Providing for the continuation of the soil survey work of the sugar centrals. (6) Creating a committee to study the means of raising the food nutrition of laborers in the sugar plantations in order to produce greater efficiency. (7) Providing for the study of improv ing the general health and sanitation of the sugar planters. (8) Creating a committee to study the most practical plan of accounting for the centrals. (9) Providing for the holding of a con test among certified public accountants to PROVINCIAL ADVERTISING PHILIPPINE EDUCATION MA6AZINE reaches 25,000 teachers in 49 provinces, and the educated English-speaking class, the leaders of 13,000,000 people, every month. These teachers have a pur chasing power of considerably more than Pl,500,000a month. e/4re you going after their trade? Have you seen a copy of Philippine Education Magazine lately? Clifford Butler—Advertising Manager PHONE 2-21-31 Philippine Guaranty Company, Ing. (Accepted by all the Bureaus of the Insular Government) Executes bonds of all kinds for Customs, Immigration and Internal Revenue. DOCUMENTS SURETYSHIPS For Executors, Administrators, Receivers, Guardians, etc. We also write Fire and Marine Insurance Low rates lberal conditions ocal Investments oans on real estate repayable by monthly or quarterly Instalments at ow interest Call or write for particular! Room 403, Filiplnas Bldg. P. O. Box 128 Manila, P. I. Manager's Tel. 22110 Main Office Tel. 441 IN- RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1926 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 29 wolve a most simplified way of acounting or the haciendas. (10) Creating an accounting office for he centrals. The Board of Trustees of the Philippine 5ugar Association have again re-elected dr. Rafael R. Alunan to head the associaion during the year 1926-27. The officers >f the association for this term are the same as for the previous year and are as ollows: Rafael R. Alunan, President. V. von Kauffman, First Vice-President. L. Weinzheimer, Second Vice-President. Damian de Urmeneta, Third Vice-Preident. R. Renton Hind, Fourth Vice President. Geo. H. Fairchild, Secretary-Treasurer. Paredes, Buencamino & Yulo, Counsel. Henry Hunter Bayne & Co., Auditors. Trustees F. von Kauffman, for La Cariota Sugar Central; L. Weinzheimer, for Pampanga Sugar Mills and Calamba Sugar Estate; V. H. Babbitt, for Hawaiian-Philippine So.; Jorge L. Araneta, for Ma-ao Sugar Central Co.; Jose M. Yusay, for Binalbas-an Estate, Inc.; Nicolas A. Lizares, for T=alisay-Silay Milling Co-; Rafael R. Aluian, for Bacolod-Murcia Milling Co.; Da lian de Urmeneta, for Central Azucarera de Bais; Gil Montilla, for Isabela Sugar Co., Inc.; G. G. Gordon, for Mindoro Sugar Co.; Tirso Lizarraga, for Kabankalan Su gar Co.; R. Renton Hind, for Luzon Sugar Co. and Bataan Sugar Co.; Filomeno 0. Gana, for Ca-Ba-Lag Planters’ Association; John Dumas, for Factors, Administrators, Planters, and Fabrication Sections. REVIEW OF THE EXCHANGE MARKET By Stanley Williams Manager, International Banking Corporation. Telegraphic trans fers on New York were quoted nomi nally on August 31 at l'< premium with occasional sel lers for important amounts at %% premium and the market was practi cally unchanged on this basis through out the month of September, until the 28th, when rates were dropped to a nominal %%• premium with possible sellers at %% premium. Forward rates were on the easy and quoted at approximately per month down to the end of December. Some fair lots of export exchange were settled, how ever, for deliveries ranging from Novem ber to February at well above those levels. Sterling cables were quoted at 2/0 'fa on August 31 and the market was unchanged at that level until September 22, when there were possible sellers at 2/0 9/16, and the market remained unchanged on that basis during the rest of the month, closing on the 30th at a nominal 2/0 with pos sible sellers at 2/0 9/16. Sterling 3 m/s credit bills were un changed at 2/1 3/16 and 3 m/s D/P bills at 2/1 5/16 throughout the month. The New York London cross rate which closed on August 31 at 485*4 touched a high during the month of September of 485 13/16 on the 4th and a low of 485 3/16 on the 27th, closing steady at 485% on September 30. London bar silver closed at 28% spot 28% forward on August 31. It touched a high of 28 11/16 spot 28 13/16 forward on the 1st and 2nd of September and then gradually dropped away to 27 11/16 spot 27 13/16 forward on the 23rd. A sharp drop carried it to 27%, 37% on the 24th and 25th. The quotation was 27, 27% on the 27th and 28th and further sharp drops carried it to 26 7/16, 26/9/16 on the 29th and 26% spot 26% forward on the 30th. New York silver which closed at 62% on the 31st gradually dropped away during the month to a low of 56% on September 30. WELCH-FAIRCHILD, Ltd. SUGAR FACTORS AM) EXPORTERS MAMI.A, P. I. Cable Addree: WEHALD, Manila Standard Codes Agents Hawaiian - Philippine Company Operating Sugar Central Silay, Occ. Negros, P. I. Mindoro Sugar Company San Jost Mindoro, P. I. Purest Mineral Water from Deep Hot Springs ! YOUR CLUB SERVES IT 1 Drink It For Your Health’s Sake THE COMEBACK The comeback must be the right comeback. Your printed product must be the no-come back kind—when the work is done and deli vered there is no comeback except another job and a boost from you. The right comeback is the comeback we try to get from you—the comeback of a customer thoroughly satisfied, of good opinion, of more orders. The job that has no comeback but a come back customer is the kind that builds our bus iness. Hammering away every minute to get the right comeback puts the quality in our work, puts the promptness in our service. It takes work and pep but it’s worth it—it wins your good opinion, and that’s the comeback we want. THE TIMES PRESS Cosmopolitan Building Manila, P. I. A Telegraphic transfers on other points were quoted nominally at the close as fol lows : Paris ................................. Madrid ............................... Singapore ......................... Japan ................................ Hongkong .......................... Shanghai ........................... India ................................. Java .................................. 16.20 155 114% 98% 101% 76% 134% 122% New York Agents: Welch, Fairchild & Co., Inc., 135 Front Street San Francisco Agents: Welch & Co., 215 Market Street IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

28-29

Media