Real estate

Title

Real estate

Creator

Carman, P. D.

Language

English

Year

1929

Rights

In Copyright - Educational Use Permitted

Fulltext

July, 1929 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 27 Danao river which rises in the vicinity of Parie and forms, not far from its origin, a magnificent cascade.” Underground streams such as Huerta here describes are found elsewhere in the Philippines, which have all the natural phenomena ascribable to an archipelago comprising more than 3,000 islands, some isles of coral, others mountain peaks and ranges once comprising, perhaps, southeastern Asia, and yet others elevated above the sea’s level by violent earthquakes and eruptions. We shall continue through Samar with the Franciscans next month. REAL ESTATE By P. D. Ca r ma n San Juan Heights Addition Altho June is nearly always a slow month in Manila real estate, the total as shown is most satisfactory. With the exception of June, 1923 and 1927, no other June sales since 1920 have equalled the above figures. The 1923 and 1927 totals were only slightly larger. The following are the sales for the first 6 months of the years 1920 to 1929 inclusive: 1920, PS,726,503; 1921, 4,347, 704; 1922, 4,688,420; 1923, 5,638,910: 1924, 6,206,247; 1925,6,760,664; 1926, 6,208,202; 1927, 5,862.967; 1928, 8,120,737; 1929, 10,760,037. May Sales City of Manila 1929 Sta. Cruz..................... P 117,387 Binondo....................... 341,500 San Nicolas................. 47,078 Tondo.......................... 36,133 Sampaloc..................... 450,029 San Miguel................. 45,100 Quiapo......................... 13,251 Intramuros.................. 40,500 Ermita......................... 70,000 Malate......................... 65,648 Paco............................. 113,506 Sta. Ana...................... 16,301 Pandacan..................... 2,870 Sta. Mesa.................... 21,823 June 1929 175,680 105,400 155,547 66,269 89,712 44,650 20,000 23,551 45,801 35,225 115,417 25,300 Pl,381,126 P 902,579 JUNE SUGAR REVIEW By Ge o r g e H. Fa ir c h il d Ne w Yo r k Ma r k e t : —The market under review opened with the previous month’s closing quotation of 1-3/4 cents c. and f. for Cubas, equivalent to 3.52 cents 1. t. for P. I. centrifugals. Notwithstanding the satisfactory distribution in the United States of refined sugar at unchanged prices, the market for raws declined, and before the end of the first week, holders of Cubas were asking 1-23/32 cents c. and f. for prompt shipment sugar but buyers would not quote above 1-11/16 cents c. and f. (3.46 cents 1. t. for P. I. 96°). In the second week, prices sagged further, apparently due to Cuba’s production of 5,135,000 tons (up to May 31) coupled with the large visible supplies in Cuban and Atlantic Coast ports. During the last two days of the second week however, an improvement developed which was ascribed to an expectation of better demand for refined during the coming heavy-consumption months. In the third week, the U. K. bought 5tons of raws at a price equivalent to 3.54 cents 1. t., which was considered significant, and on the 18th very heavy transactions were consummated in New York—210,000 tons on the exchange and 70,000 tons actuals. • As was to be expected a sharp reaction set in alter the sudden buying wave was over. On the 20th, the market was steady at the decline with small sales prompt shipment Cubas at 1-3/4 cents c. and f. (3.52 cents 1. t.). The fourth week opened with an evident improvement during which the U. K. bought 40,000 tons August-September shipment at a price equivalen t to 1.69 cents f.o.b. (3.60 cents 1. t. for P. I. 96°). This improvement was not long maintained, since the weakness of the refined marked was communicated to the centrifugal market, the latter closing with sellers but no buyers on the basis of 1-25/32 cents c. and f. for Cubas (3.55 cents 1. t. for full-duty sugars). On the 27th, however, a firmer tone developed owing to the reports of President Machado’s speech favoring a controlled Cuban crop for next year. On the 28th, 200 tons AugustSeptember shipment P. I. sugar were sold at 3.73 cents 1. t., while small sales present shipment Cubas were sold to operators, Atlantic Coast and Gulf ports, at 1-7/8 cents c. and f. (3-64 cents 1. t.). The visible stocks in the U. £., U. S., Cuba and European statistical countries are 5,258,000 tons as compared with 4,725,000 tons at the r i en t al F you take the short Transpacific route to Seattle—or if you enter at San Francisco—book passage on the Oriental Limited for eastern America. Luxuriously appointed and smartly serviced, yet charging no extra fare, this fast train reaches Chicago in 68 hours from Seattle or Portland. It traverses 1200 clean, cinderless, scenic miles behind giant electric and oilburning locomotives, including 60 CLEAFLCIMJERL^ Apply to Tourist Agencies or Trans-Pacific Steamship Lines or write J. Wesley Young, Gen’l Agent, Pass’r Dept., 1205 4th Ave., Seattle, Wash. A. H. Hebb, Agent, 916 Government St., Victoria, B. C. Edw. A. Dye, Gen’l Agent, 607 Hastings St., Vancouver, B. C. C. A. Gerken, Gen’l Agent, 1009 Hearst Bldg., San Francisco, Cal. M. J. Costello, West. Traf. Mgr., Seattle, Wash. Cable address: Hillrail same time last year and 4,411,000 tons in 1927. Futures. Quotations on the New York Exchange during June fluctuated as follows: High Low Latest 1929— July............... .. 1.81 1.59 1.80 September... . .. 1.91 1.68 1.91 December.. .. .. 2.02 1.76 2.02 1930— January......... .. 2.05 1.78 2.05 March.............. 2.10 1.84 2.10 May.............. ... 2.16 1.92 2.16 Philippine Sales. During the month of June, sales of Philippine centrifugals in the Atlantic Coast—afloats, near arrivals and for future deliveries—amounted to 33,850 tons at prices ranging from 3.49 cents to 3.67 cents 1. t. as compared with sales amounting to 32,000 tons during the same period last year at prices ranging from 4.21 cents to 4.52 cents landed terms. Eu r o pe :—F. O. Licht, in his monthly report for May, released his second estimate of the European beet acreage for 1929-1930 as compared Limit ed Across America miles along Glacier National Park. Enroute, see the illuminated New Cascade Tunnel, longest in the Western Hemisphere—8 miles through the Cascade Mountains —shortening the distance across America on the Great Northern Railway. At Chicago make connections for Detroit, Cleveland, Pittsburgh, Philadelphia, New York, Boston, Washington, D. C., and other American cities. A Dependable Railway IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

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