Manila stock market
Media
Part of The American Chamber of Commerce Journal
- Title
- Manila stock market
- Creator
- Ortigas, J. J.
- Language
- English
- Year
- 1954
- Rights
-
- Fulltext
- LIST OF IMPORTANT APPOINTMENTS ISSUED FROM JANUARY 21. TO FEBRUARY 27 Gregprio S. Lic^ros Leonides’Virata Rodolfo P. Andsfl - Felix de.la Costa . Juan O. .Chioco Montano Tejam Jose Ma. Espino Guillermo Gomez Feliciano Reyes Carmen Vasquez Pilar Hidalgo Lim Lourdes M. Garcia Mrs. Felipe Monserrat Teodoro F. Valencia Trinidad F. Legarda Jose Guevara Enrique R. Benavides Fermina Santos Eligio J. Tavanlar Isaac Sayoc Ulpiano Sarmiento Felix Padilla Hilarion Henares, Jr. Hans Menzi Claro Recto, Jr. Leoncio S. Tan Antolin Oreta Francisco de la Rosa Raul Maniapus Alejo S. Santos Jack Arroyo Juan B. Carlos Augusto Sevilla Ramon Siytangco Bienvenido Olarte Eugenio Puyat Jose M. Tuazon Jose Fernandez Sergio Bayan Manuel Cudiamat Cecilio Sager Cayetano C. Pineda Rodrigo V. Amistoso Alberto Jamir Esteban Andres Rodrigo V. Amistoso Nestor Jalandoni Dominador Ay tone Jesus Barrera Querube C. Makalintal Benjamin Garcia Felix Talabis Maximo Calalang Agapito Braganza Isaac Lacson Perfecto E. Laguio Position Member, Board of Trustees, G$IS Member, Board of Trustees,' GSIS Member, Board of Trustees, GSIS Member, Board of Directors, NARIC Chairman, Board of Directors, NARIC Member of the Tariff Commission Member of the Tariff Commission Chairman, Tariff Commission Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review for Moving Member, Board of Review of Moving Member, Board of Review for Moving Member, Board of Directors, NASSCO Member, Board of Directors, NASSCO Member, Board of Directors, NASSCO Member, Board of Directors, NASSCO Member, Board of Directors, NASSCO Chairman, Board of Directors, NASSCO Deputy Administrator, CAA Director, NBI Member, Board of Directors, MWD First Deputy Commissioner of Immigration Member, Board of Directors, MWD Member Board of Directors, MWD Member, Board of Directors, PHHC Member, Board of Directors, PHHC Member, Board of Directors, PHHC Member, Board of Directors, PRISCO Member, Board of Directors, PHHC Member, Board of Directors, NDC Member, Board of Directors, NDC Chairman, Board of Directors, NDC Member, Board of Directors, NDC Provincial Treasurer of La Union Provincial Treasurer of Occidental Mindoro Director Agricultural Extension Provincial Assessor of Capiz Member, Board of Directors, LASEDECO Provincial Treasurer of Surigao Provincial Treasurer of Capiz Vice Mayor of the City of Iloilo Chairman, Civil Service Board of Appeals Member, Civil Service Board of Appeals Member, Civil Service Board of Appeals Member, Board of Directors, Manila Rail road Company Member, Board of Directors, Manila Rail road Company Second Deputy Commissioner of Immigration Member, Board of Directors, NASSCO Chairman, Board of Directors, PHHC Full-time Member of the Board of Governors, RFC Undersecretary of Commerce and Industry Date Issued J?."' Il ” 22 ” 23 •’ 23 ” 22 ” 22 ” 22 Feb. 27 27 27 27 27 27 27 27 27 9 9 9 9 9 9 1 c Banking and Finance By M. D. Arnold Sub-Manager The National City Bank of New York OMPARATIVE statement of conditicn of the Central Bank: 4s of As of Dec. 31, Nov. 31, 1949 1953 As of As of Dec. 29, Jan. 29, 1953 1954 Due to International Monetary Fund........... 22,498 496 496 496 Due to International Bank for Reconstruc tion 8e Development. . 2,389 2,377 2,377 2,377 Other Liabilities............... 2,636 3,686 2,982 6,329 Deferred Credits............... — 3,590 607 1,212 Capital................ ............. 10,000 10,000 10,000 10,000 Undivided Profits............ 6,464 8,483 12,540 428 Surplus................................. — 10,133 10,133 13,268 P793.629 P884.707 P900.036 P902.483 The International Reserves as of January 29, 1954, were as follows: Central Bank International Reserves........... $225,566,484.58 Japan Open Account (due from).................... 11,535,431.16 Net FX Holdings Other Banks...................... 58,945,912.41 $296,047,828.15 This is an increase of approximately $45,000 from December 29, 1953. Currency and coins issued totalled P689,703,161.51. Money is somewhat tighter due to the seasonal demands of the sugar industry. Merchant collections are reported slow and extensions appear to be frequently required be fore final payment is received. The proposed National Budget submitted by President Magsaysay calls for ex penditures of P668,000,000—considered an all-time high— and compares with P640,000,000 for the current fiscal year. The Administration expects to meet these increased expenditures by intensified collection of existing taxes and apparently believes that such intensified collection will result in revenue sufficient to meet expenditures without the necessity of the introduction of new taxes or an increase in rates for old taxes. Manila Stock Market By Ji. J. Ortigas Picomell, Ortigas & Co. January 23 to February 19 AN easier trend developed in the base-metal group in anticipation of lower metal prices in the United States market. Acaje Mining Company registered the biggest decline in the chrome group. This influenced intermittent liquidation in Consolidated Mines, which closed easier. Lepanto Consolidated went against the trend by registering a small advance. In the gold-mining section, prices again tended easier on very limited trading. The price of gold in the local free market advanced from P101 to approximately Pl04 per fine ounce during the period under review. San Miguel Brewery was again fn demand, closing firmer. 1953-54 Range High Low MINING SHARES High Low Close Change Total Sales International Reserve . . P460.689 Contribution to the In ternational Monetary Fund................................. 30,000 Account t<5 Secure Coin age.................................... 113,306 Loans and Advances... 77,047 Trust Account-Securities Stabilization Fund.. . . — Domestic Securities......... 92,197 Other Assets........................... 20,390 P449.011 P460.531 P451.133 30,000 30,000 30,000 106,941 16,767 106,941 27,334 106,940 33,324 227,696 54,292 230,518 44,713 233,127 47,959 107.42 82 78 0.255 0 0.0875 0 15 037 1.0975 0 4.60 0.046 0.32 0.22 06 0 00 0016 70 034 155 16 P793.629 P884.707 P900.036 P902.483 0 105 0 85 0 „ „ 0 0.1475 0 Currency—Notes............ P555.576 Coins.............. 74,384 Demand Deposits—Pesos 117,682 Securities Stabilization Fund................................ 2,000 P586.080 84,931 169,896 P619.305 84,804 151,716 P605.205 84,498 163,998 5,035 5,076 14,671 1.1075 0 2.75 0.31 27 06 70 0 15 0.17 M. S. E. Mining Share Acoje Mining Co........ Atlas Cons. Mining and Development Baguio Gold Mining Co.............................. Balatoc Mining Co. . . Batong Buhay Gold.. Benguet Cons............. Consolidated Mines... General Base Metals Hixbar Gold Mining Co.............................. Itogon Mining Co....... Lepanto Cons............... Mindanao Mother P ’ Philippine Iron Mines, Inc.............................. San Mauricio Mining Co.............................. Surigao Cons............... Gumaus 93 19 .225 85 15 85 90 .15 Off 5.09 Off .075 .0675 .08 055 80 .06 1 90 .15 .19 06 08 2 80 042 .155 .06 .15 ' . 18 .06 Off .01 526,250 .20 .002 .035 . 19a 047 Off 77 Up 008 02 06 Off 005 80,000 ,085b Off 04 15 18 Off Off .005 01 97 COMMERCIAL SHARES OVER-THE-COUNTER Credit By Duncan Burn Manager, Association of Credit Men, Inc. (P.I.) and Manager, Eastern Inspection Bureau FOR the second consecutive month the Association of Credit Men, Inc. (P.I.) has reached a new membership high, with the added active participation of Tabacalera Insurance Company during February. Other firms are expected to become active members in the near future. Preparations are under way for the general annual meeting, scheduled for Tuesday, April 6, to include luncheon and election of a new Board of Directors. A nominating com mittee has prepared a list of nominees approved by the pre sent Board. The. office of the Association will be pleased to explain the operations of the Association to interested persons and firms. The Association will celebrate its 22nd birthday next month and is presently larger and perform ing a wider range of services than ever before. The primary purpose of the Association continues to be “to establish, maintain, and perpetuate mutual confidence and closer credit-cooperation between and among its members; to obtain, disseminate, and exchange credit information among and between its members respecting the financial standing and responsibility of persons, firms, and corpora tions in the Philippine Islands to whom commercial credits are extended or may be extended by members of the As sociation”, and to take such other action or steps as “may be deemed expedient and necessary to protect its members in the matter of commercial credits” and to perform related work and services. The first collection letter sent to Association members brought forth enthusiastic response. The prqject of im proving and simplifying collection procedures is still under way and further letters and suggestions are being passed on to members. In recent weeks members have been making wider use than ever of the Ledger Interchange Bureau operated by the Association, and the number of voluntary notices has also increased. Some members are finding the special reciprocal services especially helpful. /credit executives report little or no change in collections during February. A few have reported slight improvement over January but most others have reported no change of consequence. Certain special lines benefitting from rice harvesting, with a limited increase in rice prices, and from increasing operations of sawmills have foqnd some improvement in collections in February ajid expect slight improvement to continue until June. Sugar prices have been holding up well, but export prices for copra and hemp have been declining further and only recently have rice prices moved from a low figure. The provincial outlook is considered somewhat improved with some money being in evidence, but collections still lag and post-dated checks continue to be frequently used. Ih the cities and in the provinces certain inventories continue to move slowly, with losses on some items. The rat infesta tion has hurt badly in some areas. A rise in the prices of some prime commodities has been noted. There has been some speculation due to suggestions of shortages, but in at least two primary lines it appears that reports of shortages were without foundation. Businessmen seem to be gen erally confident, but indecision brought about to some extent by some softening of prices and by inability to make long-range plans due to the absence of definite trends, has been noted. Electric Power Production (Manila Electric Company System) By J. F. Cotton Treasurer, Manila Electric Company 1941 Average—16,316,000 KWH Kilowatt Hours 1954 1953 January..................................................... 57,301,000 * 50,107,000 February................................................... 52,282,000 ** 45,501,000 March................................................................................ April................................................................................... May.................................................................................... June................................................................................... July.................................................................................... August............................................................................... September........................................................................ October............................................................................. November......................................................................... December.................................................. 57,968,000 Total......................................... 628,357,000 ••Partially estimated Output in February was lower than January because of the 28-day month. However, the average daily output was greater than in January. The increase over February of last year was 6,781,000 kwh, or 14.9%. The rate of increase over the preceding year is the highest in several months. Real Estate By Antonio Varias Vice-President, C. M. Hoskins 4f» Co., Inc., Realtors REAL ESTATE SALES registered in the Greater Manila area during the month of February, 1954, numbered 636, with a total value of P6,929,523, 98