Credit
Media
Part of The American Chamber of Commerce Journal
- Title
- Credit
- Creator
- Callahan, R. A.
- Language
- English
- Source
- The American Chamber of Commerce Journal Volume XXX (No. 1) January 1954
- Year
- 1954
- Rights
-
- Fulltext
- Manila Stock Market By Ji. J. Ortigas Hall, Picornell, Ortigas & Co. 101.00 93.00 108.00 102.00 13.00 13.00 10.00 6.00 San Miguel Brewery, San Miguel Brewery, Talisay Silay Milling. William Equipment November 21 to December 24, 1953 x—Ex-Dividend 95.00 94.00 95.00 105.00 104.00 105.00 — — 15.00a 10.00 10.00 10.00 T—Bond sales reported in units of Pl 00 220 1,078 300 EARLY in the period under review, mining shares moved higher. However, the forward movement has been halted during the past few days and prices have backed away from their recent highs under profit taking and tax-selling. The price of gold in the local free market ranged between P105.80 high and P102.50 low, closing at ap proximately P105.00 per fine ounce. In the commercial and industrial section of the market, San Miguel was fractionally higher, while sugar ruled stea dier; otherwise, trading was featureless. OVER THE COUNTER Atlas Cons. Mining 8s Development 1952-53 Range High Low 131.53 82.78 MINING SHARES Crown Mines....................................... Demonstration Gold.......................... East Mindanao Mining Co.............. Eastern Development Co................. Far Eastern University..................... Gold Creek Mining Corp................... Hawaiian Philippine Co.................... Manila Jockey Club........................... Nielson 8s Co., Inc............................. Philippine Dorado Mng. Co............ Philippine Long Dist. Tel. Co., 6% bonds (1966).................................... Realty Investments, Inc................... Sta. Barbara Mining......................... Tabacalera, 6% bonds (1962)......... Victorias Milling Co., Inc............... High ► 0.08! 0.01 0.00! O.OOS 0.00; 140.00 0.001 10.00 2.00 0.01 0.001 100.00 7.00 0.01! 100.00 100.00 Low P 0 0 0 0 0 140 0 10 0 0 075 01 005 009 0035 00 001 00 00 01 0012 100 0 100 100 00 00 015 00 0.275 0.14 0.0875 0.028 6.20 0.13 0.06 1.1 Close Total Sales P 0825 01 005 009 0035 00 001 00 00 01 0012 00 00 015 00 55,250.00 470,983.00 158,000.00 85,000.00 165,000.00 30.00 312,600.00 1,662.00 598.00 40,000.00 400,000.00 P70,000.00 3,000.00 300,000.00 P24,000.00 956 2.65 0.0035 0.0013 4.80 0.07 0.046 2.70 0.015 0.025 0.32 0.29 0.19 0.16 0.155 0.05 0.95 0.30 0.65 0.05 0.1275 0.06 3.26 .78 0.32 0.16 0.285 0.027 0.17 0.008 M. S. E. Mining Share Acoje Mining ComAtlas Cons. Mining 8s Development Corp.. Atok Big Wedge Min ing Co....................... Baguio Gold Mining Balatoc Mining Co... Batong Buhay Gold Benguet Consolidated Coco Grove, Inc......... Consolidated Mines, Inc. x......................... General Base Metals. Hixbar Gold Mining Co............................... Itogon Mining Com pany.......................... Lepanto Consolidated! Mindanao Mother Lode.......................... Paracale Gumaus Philippine Iron Mines, Inc....'....................... San Mauricio Mining Co............................... Surigao Consolidated x Suyoc Consolidated... x—Ex-Dividend xx—Ex-Stock Dividend High Close Change Total Sales 96 32 89 21 89 3 Off 2 07 14,287,377 25 24 24 Up .005 102,000 085 0725 0725 Off 80 80 80 ,000 0925 00 3 1 0019 00 018 045 22 0775 00 0925 00 Up Off 278,000 10,150 2 0018 95 018 3 0415 19 .0575 .76 .065 2.00 .185 .21 .008 .05 .69 .05 .92 .16 .18 .008 0018 Off 00 018 043 19 16b 05 70 065 06b Up Up Off 1952-53 Range High Low 160.00 120.00 COMMERCIAL SHARES 20.00 11.00 Bank of the Philippine Bogo-Medellin Mil90.00 65.00 150.00 100.00 110.00 100.00 50.00 26.00 22.00 6.20 7.00 7.00 1.37 0.25 1.90 2.80 0.30 0.30 107.00 100.00 1.0925 0.015 100.00 99.50 36 00 28.00 Central Azucarera de Central Azucarera de la Cariota................ Central Azucarera de Pilar.......................... Central Azucarera de Tarlac....................... China Banking Corp... Cia. de Celulosa de Filipinas................... Fil. Cia. de Seguros... Industrial Textiles Mfg. Co. P.I........... Insular Life Assurance Co............................... Manila Broadcasting Co.............................. Manila Wine MerMaraman 8s Co., com. Marsman 8s Co., pref.. Mayon Metal, Class "B”.......................... Mayon Metal, Class •■A”........................... Meralco 6-1/2%......... Metropolitan In surance Co. x........ Pasudeco...................... Philippine Long Diet. Tel. Co., com.......... Philippine Oil Dev elopment Co., Inc.. R 8s D 4% Bonds, 1959........................... San Miguel Brewery, .0002 4,400,000 .20 -------.001 19,807 56,000 .06 Off .0025 Off .08 Off .04 16 Off .005 195 Up .02 008 — — 160 00b 00b 00b 113.00 113.00 113 7.70 .37 3.00 00 — 105 00b 29.00 35 — 280 10.50 23.00 6.20 .35 2.80 Up 7.00 00 00b 50 00 6 30 8 37 104.00 104.00 104 34.00 13.00 Up 6.00 Off .25 Up 1.00 Off Up Off .20 .05 .55 07a 00 — 140 34.00 34 00b Up 3.00 13.00 12 .038 .018 25a 018 Off .004 99 50b 33.00 32.00 32 50 Up .50 905,000 344,000 179,000 47,650 63,000 302,000 302,500 2,300 350 1,300 10,900 T 1,720 40 2,266,409 26,993 Credit By R. A. Callahan Accountant and Office Manager Philippine Refining Company, Inc. THE directors of the Association of Credit Men, Inc. (P.I.) in a regular meeting held December 15, 1953’, authorized the use of a new process-report form within the Association for insurance companies and for the insurance departments of other members. It is too soon to offer an opinion, but it is hoped that the new form will provide beneficial information not only to insurance mem bers but to all members of the Association. Insurance members should find the new form easier to complete and the consolidation by the Ledger Interchange Bureau of the Association should present a more complete story of the names processed. This new system is being carefully watch ed and should be a valuable addition to our process-forms. The increased use of the voluntary “pink notices” to Association members has been particularly helpful. During December more notices were sent out than in any other month since the war. Many members have commented upon the immediate benefits of some specific notices. Ar rangements are being made to enable the Association to continue to increase this voluntary service if required. Work is continuing on a series of letters on collection matters. It is planned that several letters will be sent to all Association members during January. The Association directors hope that members will take the lead in improving collection methods and practices in the Philippines. txecember cannot be considered a normal month for U credit and collection executives. During December cash continued very tight. Inventories were generally high and sales, even up to Christmas Eve, were slow, with both retailers and wholesalers. Some retailers reported that sales were considerably below the same period last year. Toward the end of the month, some year-end clearing of accounts was noted which resulted in slight improvement. It appeared that inventories and requirements in several lines had not been estimated properly, and in a few highinventory groups movement was very slow. High inven tories during the pre-Christmas season, coupled with com petition and some pressure to sell on credit, caused diffi culties in several lines. Christmas shopping was considered below the levels of the ’ previous year by firms most directly concerned. Store owners reported huge numbers of store visitors but few actual customers, with purchases telow 1952 amounts. 't'he price of rice has stabilized considerably. Increased use of fertilizers and other improvements in systems 18 should result in improving supply which should further stabilize rice prices and thus affect other prices directly. No great change was noticed in export trading during December. There are some unused import quotas which expire January 20, 1954. During December there were some price reductions on several essential items. Most credit executives are still waiting and watching. Even with the new Administration taking over December 30, it is unlikely that any definite policies of the new Ad ministration will result in changes until after June, 1954. The possibility of revision of the Bell Act and the possibility of other undertakings at government levels will undoubtedly be closely watched. Important commitments seem to be deferred until some definite pattern will appear to be taking shape. Electric Power Production (Manila Electric Company System) By J. F. Cotton Treasurer, Manila Electric Company 1941 Average—16,316,000 KWH Kilowatt Hours 1953 1952 lanuary...................................................... 50,107,000 45,152,000 February.................................................... 45,501,000 42,450,000 March......................................................... 50,789,000 45,128,000 April............................................................ 49,159,000 42,798,000 May............................. ........................... 52,042,000 45,580,000 June............................................................ 51,304,000 45,223,000 July.............................................................. 53,877,000 47,542,000 August........................................................ 54,275,000 47,988,000 September................................................. 53,636,000 47,216,000 October....................................................... 55,943,000 50,073,000 November.................................................. 53,756,000 * 47,652,000 December................................................... 57,430,000 ** 50,656,000 Total.................................................. 627,819,000 ** 557,458,000 •Reviled ••Partially estimated AS usual, new output records were set in December. The month was about 1,500,000 kwh above the pre vious high month (October, 1953). A high peak of 147,600 kw was recorded on December 23, and a new daily high gross of 2,114,200 kwh was registered on December 24. December output was 6,774,000 kwh, or 13.3%, above December, 1952. The year’s output was 70,361,000 kwh, or 12.6%, above 1952. During the last six months of the year the rate of increase was 13.2%, compared with 11.8% during the first half of the year. Some comparative figures are shown below which emphasize that the high rate of increase in the use of elec tricity is not only continuing but is tending to accelerate. New construction expenditures for 1953 by Meralco were nearly Pl2,000,000, indicating the enormous invest ment needed to keep abreast of the growing demand for electric service. Kwh Yearly Output 1951 ................. 497,211,000 1952 ................. 557,458,000 1953 ................. 627,819,000 Highest Monthly Output 1951 .................. 45,655,000 1952 .................. 50,656,000 1953 ................. 57,430,000 Highest Daily Output 1951 ................. 1,611,900 1952 ................. 1,884,600 1953 ................. 2,114,200 Increase Over Previous Year In crease 38,635,000 60,247,000 70,351,000 8.4% 12.1% 12.6% 4,556,000 5,001,000 6,774,000 11.8% 10.9% 13.3% 234,080 272,700 229,600 17.0% 16.9% 12.2% Highest Peak Load (Kw) 1951 ................. 114,100 7,600 7.1% 1952 ................. 125,000 10,900 9.6% 1953 ................. 147,600 22,600 18.0% Real Estate By Antonio Varias Vice-President, C. M. Hoskins Co., Inc., Realtors REAL ESTATE sales registered in the Greater Manila area during the month of December, 1953, numbered 503, with a total value of P6,155,104, as compared with 505, with a total value of ?4,739,599, registered during the preceding month of November. Of the December sales, 141, with a total value of only P3,207,870, represented deals within Manila proper, and 362, with a total value of P2,947,234, were transactions in Quezon City, Pasay City, and in the suburban towns of Caloocan, Makati, Paranaque, Malabon-Navotas, Mandaluyong, and San Juan. A few of the bigger sales registered during the month of December were: CITY OF MANILA Ermita Nebraska St. A parcel of 1,006.9 sq. m. sold by Perfecto Jose to Pedro Galang for 750,345. Sta. Monica St A property with a lot of 547.2 sq. m. sold by Enrique Katigbak to Daniel Ledesma for 780,000. Malate Dakota St. A property with a lot of 2,617.4 sq.m, sold by Marina Raquiza to Max Blouse for 7200,000. Dewey Boulevard, corner Remedios St. A property with a lot of 786.1 sold by Leonis Development Company to Natividad Lichauco for 778,000. Pensylvania St. A property with a lot of 458.1 sq.m, sold by Benito P. Manalo to Cipriano Navarro for 790,000. Paco Otis St. A property with a lot of 9,308 sq.m, sold by Chua Limco to La Fabrica de Cerveza de San Miguel for P395,590. Ludivico St. A property with a lot of 153.4 sq.m, sold by Luis Lauchengco to Josefa Vda. de Liwag for. 726,000. Sampaloc Gastambide St A parcel of 1,418.7 sq.m, sold by Teofilo Salvador to the Uni versity of the East for 7141,870. Craig St A property with a lot of 529 sq.m, sold by Jesus S. Reyes to Domingo Guevarra for 735,000. San Nicolas Tabora St. A property with a lot of 1,188 sq.m, sold by Arcadio Atienza to Manuel V. Syjuco for P73.000. Sta. Cruz Evangelista St A property with a lot of 132.3 sq. m. sold by Milagros Javier to Nemesio Dizon for P130,000. Benavides St. A property with a lot of 2,384 sq.m, sold by Francisco VeTgel de Dios to Julita Olaquivel for 7130,000. Juan Luna St. The transfer to the corporate name PATRICIA, INC. of a tract of 72,448 sq.m, by Ricardo St. Manotoc for a consideration of 7558,842. PASAY CITY F. B. Harrison St A parcel of 5,571.41 sq.m, sold by Manuel S. Galvez to the Church of Christ for 790,000. Taft Ave. A property with a lot of 133 sq.m, sold by Aurelio Gonzales to Rosa O. Puno for 774,949. Taft Ave. A property with a lot of 1,769 sq.m, sold by Ang Beng Uh to Januario Estrada for 750,000. QUEZON CITY Espafia Extension. A bungalow with a lot of 809 sq.m, sold by Margarito Dalusong to Pablo Sales for 730,000. Highway 54. A parcel of 4,699 sq.m, sold by Fred Da Silva to J. Amado Araneta for 752,669. Piedad Estate A tract of 51,718 iq.m. told by Bruno T. Solano to Reynaldo Tiongco for P51.718. Sta. Mesa Heights Cordillera St A property with a lot of 898.8 sq.m, sold by Bienvenido Canlas to Lilian Salonga for 745,000. Various Properties in Quezon City Several properties in Quezon City sold by Victorino Arambulo to the Republic of the Philippines for 7148,656. SUBURBAN TOWNS Baclaran Quirino Ave. A tract of 9,041.14 sq.m, sold by Antonio Syyap to Lorenzo Lim for 731,520. Mandaluyont King Albert St. The transfer of a compound with an area of 3,065 sqjn. for a consideration of P75.000 by Oeorge Edward Koster, Inc. to the corporate name American Builders, Inc. 19