Legislation, Executive Orders, and Court Decisions
Media
Part of The American Chamber of Commerce Journal
- Title
- Legislation, Executive Orders, and Court Decisions
- Creator
- Selph, Ewald E.
- Language
- English
- Source
- The American Chamber of Commerce Journal Volume XXV (No. 7) July 1949
- Year
- 1949
- Rights
-
- Fulltext
- 304 AMERICAN CHAMBER OF COMMERCE JOURNAL July, 1949 "A BANK IS KNOWN... With this record-breaking production, the huge back-log of orders which the various manufacturers have had is disappearing rapidly. From reports re cently, some manufacturers are experiencing diffi culty in moving all of their production, which would indicate that the United States is back to a buyer’s market. Here in the Philippines, as elsewhere throughout the world, some makes and models remain in short supply. However, with production continuing at its present pace, this situation should be relieved shortly. According to a recent tabulation, more than 2,000,000 cars have been sold in the United States with automatic or semi-automatic transmission since these were introduced in 1948. Textiles By James Traynor THE slight improvement which was noted during May continued to accelerate during June. The position generally has been strengthened by comparatively small arrivals and increased local sales so that inventories have continued to drop. Local prices have increased somewhat on many grades, and this, together with lower prices in New York, brought local selling prices into line with replacement costs. During June importers showed more interest in placing new contracts for July and August shipment. Caution still is being used and the competitive situa tion has become keener. This healthy attitude should have its good effects on future operations and will undoubtedly prevent a recurrence of the overstocked conditions which led to the extraordinary drop in pri ces which ruled during the months of February through April. Legislation, Executive Orders, and Court Decisions By Ewald E. Selph Ross, Selph, Carrascoso & Janda This film will take your pictures •• .TONIGHT! The ai.iazing speed of Ansco Superpan Press film makes night photography easier, surer, more enjoyable. It will enable you to take indoor pictures that you never believed possible . . . and with our expert developing and printing service, it’s easy to get crisp, clear, beau tiful prints. Better stop in today. BOTICA BO1E, Inc. Photo Department On the Escolta, Manila CEBU • ILOILO ■ LEGASPI • DAVAO AMONG the bills passed by Congress and approved by the President are the fol lowing: Senate Bills 311 — Exemption from taxation and claims of creditors, of benefits to persons residing in Philip pines derived from the United States and administer ed by the United States Veterans Administration. (Now Republic Act No. 360). 371 — Extension to December 31, 1949, for re construction of corporation and partnership records. (Nowr Republic Act No. 350). 425 — Amending forestry law re grouping of trees so that the Directory of Forestry may make changes every three years instead of five years as now provided. (Now Republic Act No. 370). House Bills 1209 — Amending the Internal Revenue Code, re pealing tax on skimmed milk. (Now Republic Act No. 344). 1460 — Creating a Bureau of Industrial Safety, authorizing reasonable inspection fees to be fixed by Department of Labor; also giving Department power July, 19 <9 AMERICAN CHAMBER OF COMMERCE JOURNAL 305 to order removal of hazardous buildings, tanks, ap pliances, etc. (Now Republic Act No. 367). 1461 — Amending Section 259, Internal Revenue Code, re franchise tax to cover franchises of indivi duals as well as corporations, and amending Section 260,Internal Revenue Code, eliminating “Jai-Alai” from amusement tax, and also providing that if amuse ment tax is not paid within 10 days after end of each month, the tax will be increased by 25C. (Now Re public Act No. 418. 2002 — Rehabilitation of domestic insurance companies. (Now Republic Act No. 353). 2118 — Revised Civil Code. Many new provisions affecting contracts, partnerships, sales, domestic re lations, labor, carriers, preferences in insolvency, and authorizing the award of moral and punitive damages. (Now Republic Act No. 386 to become effective one year after publication in Official Gazette). 2217 — Revision of specific tax on cigars and cigarettes which have been mechanically packed so that minimum tax will be P6 per 1000. (Now Re public Act No. 419). 2249 — Exempting purchase of vessels from com pensating tax. (Now Republic Act No. 361). 2383 — Provision re guardianship of incom petents and minors who are beneficiaries of moneys paid or payable by the United States through the Ve terans Administration. (Now Republic Act No. 390). 2520 — Revision of the Charter of Manila. This is a general revision; some new business and occu pation taxes are authorized. (Now Republic Act No. 409). 2560 — Redemption of certain emergency and guerrilla currencv issues. (Now Republic Act No. 369). 2710 — Franchise to Clavecilla Radio System for broadcasting, telecommunication, and television. (Now Republic Act No. 402). 2783 — Regulating the practice of dentistry. (Now Republic Act No. 417). 2804 — Regulation of petroleum exploration and development. (Now Republic Act No. 387). 2831 —Amending Sections 184 and 185, Internal Revenue Code. Reducing tax on dental gold from 30% to 5% ; reducing tax on medical and dental equip ment from 15% to 5‘/o ; reducing tax on fountain pens. (Republic Act No. 396). 2874 — Re evaluation of mineral deposits and publication of mining statistics. (Now Republic Act No. 406). . 2875 — Amending Act 62 re unclaimed securities so that securities to which title is not proved within the time prescribed are to be returned to issuer and become treasury stock. (Now Republic Act No. 408). 2885 — Uniform taxes for wireless reception and transmission of words, pictures, or other matter in tended for publication. (Now Republic Act No. 359). Joint Resolutions 31 — Request:ng President and Congress of United States to authorize additional funds for war damage losses. THE COLLINS COMPANY Established 1826. Incorporated 1934. COLLINSVILLE, CONNECTICUT Commonwealth Axes Dayton Pattern also Double Bit Patterns for swamping and falling The Collins name on any axe is your guarantee of high quality Obtainable in all the leading Hardware stores everywhere Exclusive Agents CHAM SAMCO & SONS, INC. P.O. Box 928, Manila 300-308 Sto. Cristo, Manila Phone: 2-81-72