Experience of a Planter.
For those that desire statistics, I may repeat the statement made to me in person by an Albay planter. The plantation of this gentleman, in which he had invested a capital of $60,000, embraced 1800 acres, planted at the time of purchase with shoots of two years’ growth, and therefore needing one year more before cutting. There was a store-house on the estate capable of holding 5000 piculs, or 695,000 pounds of hemp (a picul is 139 pounds). The purchase also included a bale-press and shed, a plot prepared for sun-drying, two horses, and a vehicle.
The working expenses of this plantation, including the various items of salaries to overseers, clerks, and storekeepers, wages to natives, living and traveling expenses of overseer, fire insurance, office expenses, freight to Manila, loading, commission, storage, and minor items, were $10,000. In this were included some loss by stealing, and several hundred dollars loss by waste.
In one year the planter received in Manila $27,000 for his dried bales of hemp-fibre, making a net profit of thirty per cent. on invested capital. It must be remembered, however, that in Albay province the conditions for the investor in abacá-planting are of the best. Equal results cannot be expected elsewhere.