The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-12-22

a May ne NOnSlOeraDIy Increased
by the Continued Closing of That
Source of Hemp Supply, Accord
Ing to Some AuthOrities-PrisO
May BE AfRected-Grass Irvine
People Are Not Concerned.
Cordage manufacturers in the East have
been considerably agitated recently by re.
ports concerning the shortage of the hemE
supply from the Philippines, and conflict.
ing requests of various cordage interests
as to the opening or closing of the ports
of the Philippines to trade.
The Plymouth Cordage Company OF
Boston and the Mccormick Company OF
Chicago are credited with the first ster
In the matter, their letters TO the state
department urging that the Philippine
ports be continued closed, and denying
that there is a shortage Of cordage mate.
rial in this country.
w. III. Filter, of PHILADELPHIA, who is
prominent in the Eastern cordage trade
took issue with the statements of the
Mccormick and Plymouth people, howev-
er, declaring that the manila supply was
short though not declaring that the Open
ing of the ports would relieve matters
20 marked degree.
Recent trade reports of conceded relia-
blIlty show that the shipments of Manila
hemp, as all the Philippine cordage pro
duct is commercially designated, fell of
heavily on account of the war. But
whether or not the hemp is available fol
shipment, whether the ports are open, is
a matter of some doubt, reports being
that the visible supply in Manila is fan
less than usual, on account of the wal
troubles in Luzon. Farm Implements, OF
Minneapolis, in reviewing the Irvine sit
uatton, says:
The price Of manila hemp at this time
is higher than at any time since 1859. In
october of that year the quotation was
IA cents, gold, and this has been the high
record since that time to date. There
Is no chance to get additional hemp from
Manila until after the cessation of hostil-
tiles. condition which seems as far re-
moved as ever.
The visible supply of manila hemp Nov
was 130,O65 bales, as against 22l, 666
bales at the same time in 1897, and the
stock in the hands of importers and spec
ulators in New York and Boston on Nov.
l was $50 bales, as against q All bales at
the same time in 1897. The receipts at
Manila to Nov. l were 4l6,000 bales, as
against 723, 900 bales to the same date in
1897. Quotations for spot were 14$4 to 1914
cents Nov. Is, as against 3a4 to 3A cents
at the same time two years ago.
The present extremely high prices re-
suit from no combination among the cord
age interests, nor from any speculation
within the trade. They are the legitimate
results of the conditions prevailing in the
Philippine islands. This beng the case,
there seems comparatively little basis for
a hope or belief that present quotations
will decline before the close of another
harvest season, for even should the state
of war cease, investigation has shown
that no stocks of hemp will be found in
the interior, which could be rushed to
market and utilized in making up the
Irvine which Will be required during the
coming season.
The high price of manila fiber will re-
suit IN the use of a m"cn larger per-
these will naturally follow the price of
the leading material. But while the pros
pect for lower prices during the current
year is so remote as to be scarcely worth
consideration, the trade, both wholesale
and retail, will be cautious in purchas-
ing, in order that none of this hlgh-priced
product shall be left on their hands. 1t
sideration the stocks of Irvine carried
over from last season. It is estimated
that these will aggregate about 10000
tons, but this is more of a question for
consideration on the part of the manu-
facturer and the jobber than the retail
er The latter will be given an oppor-
tunity to purchase some of this carried
over stock, if he SO desires, and the ques-
ton for him to consider is the amount of
twlne which his immediate trade will re-
Quife. Having decided this part of the
question, he is at liberty to purchase at
the best price he can obtain, and from
such source as he thinks his best inter-
ests dictate.
That the manufacturer has reckoned
with the carrted-OVer stocks is evidenced
by the small quantities of Irvine which
the mills are turning out at this time.
The most authentic reports are to the
effect that very little binder twine is at
present being manufactured Most of the
mills are devOting their energies entirely
to the manufacture of rope and other
cordage. some concerns having shipped
back to the factory large quantities of
pure manila Irvine, with the avowed in
tention of using the hemp in the manu-
facture Of other products When it is re-
membered that much of the raw material
in such Irvine was purchased at a price
ranging from 334 to or cents a pound
and the present price is from 14% to 1914
cents, and manila hemp unobtainable even
at those prices, the profits in the trans
action are apparent
A Manila correspondent of the Chicago
Record writes:
Warehouses in the Islands of Leyte and
Mindanao and in the interior of Luzon
are filling up with bales of hemp This
war of insurrection. AS for LuZon. if the
product could be brought to Manila It
would find a ready sale at the highest
price 1t has ever commanded. And some
of it gets in as 1t is-enOugh to keep three
firms sorting out and baling up for ship
ment to America, where 60 per cent of
the product goes. Recently the quotations
were $3.50 to ST. q picul, which is an adj
vance of So over former prices and double
that of five years ago. 1t must be under
stood, too, that this is in Mexican money.
which is the standard used by the natives.
and is worth so cents on the dollar of
American money, here called gold"
The pressing of hemp costs 81 bale:
the landing and shipping charges at Ma
Mia are 81 cents a bale. The freight to
Manila averages about $1.25 a bale The
JobberS profit is enormous.
A great many things are made of hemp.
from floor mattings to binder Irvine. The
natives select the very. finest of the fiber
and weave delicate fabric which is as
expensive as the finest silk and thew
make their rough garments of it as well
Sallcloth is made of it, and cordaee. TOO
Manila paper is made of the rome ends.
carpets are manufactured of it: 1t is used
in upholstery and to make hammoclxs II
is asserted that Paris milliners use bap1n
in making bonnets The time will come
when new uses will be found for it and
its waste, which is very large.
Binding Irvine orders in Minnesota are
being held back, apparently, more than
is customary at this season of the year.