Credit
Media
Part of The American Chamber of Commerce Journal
- Title
- Credit
- Creator
- Muilenburg, C. W.
- Language
- English
- Year
- 1953
- Rights
-
- Fulltext
- Consolidated Mines, a leader for some time past, was easier as a result of lowered production due to stoppage of night-shift work through inability to control high silicacontent ore under artificial light conditions. This situation is considered temporary. The price of gold in the local free market declined during the past four weeks about as fast as it had advanced in the previous month, thereby confirming the old adage that what goes up must come down. Commencing with opening sales at Pl 17 per fine ounce, the price moved steadily downward to close today at P107.50. In the commercial and industrial section, sugars were mixed in more active trading; otherwise conditions were quiet and about unchanged. 1953-53 Range High Low 131.53 92.09 MINING SHARES 0.315 0.06 6.20 0 0 16 038 80 0.13 0 06 2.65 1 0.0035 0 60 0013 High M. S. E. Mining Share Average..................... 107.42 Acoje Mining Co..................26 Antamok Goldfields.. . .042 Atok Big Wedge Mining Co....................... 2.50 Baguio Gold Mining Co..........................................08 Balatoc Mining Co.... 2.10 Batong Buhay Gold 0.07 0.044 3. 0. 0.1 50 02 028 0.29 0 16 0.155 0-.07S 0.95 0.048 0.30 0 0 0 0 0 0625 038 73 028 09 0.1275 0 10 3.26 2 15 0.32 0 17 0.285 0.027 0.12 0 0 0 21 01 04 Benguet Cons.............. 4.60 Coco Grove, Inc..................... 03 Consolidated Mines, Inc.......................................044 Hixbar Gold Mining Co..........................................205 Itogon Mining Co....... .10 I. X. L. Mining Co.............. 06 Lepanto Cons.............. .85 Masbate Cons............. .048 Mindanao Mother Lode.....................................1375 Paracale Gumaus Cons..................................... 1075 Philippine Iron Mines, Inc.............................. 2.60 San Mauricio Min ing Co....................... .28 Surigao Cons................ .265 Suyoc Cons........................ — United Paracale Min ing Co............................ .055 Low Close Change Total Sales 11.61 102.67 Off 3.91 10,655,100 Up .01 1,128,500 .24 .039 .25 .04 Up .002 85,000 2.45 2.40a Off- .35 5,000 .07 .07 Up .01 151,250 2.10 2.05a — 1,100 .0015b 4.40 4.50 Off- .10 30,100 .029 .03 Up .006 85,000 .037 .039 Off .003 :3,960,000 .19 .19 Up .03 100,000 .09 .095 Off- .01 180,000 .05 .05 Off .02 38,000 .81 .81 Off .02 300,000 .04 .048 Up .008 1 ,310,000 .13 .1375 Off- .0025 343,500 .1075 .1075 Up .0025 40,000 2.45 2.50 Off .15 70,500 .20 .28 Up .09 152,000 .24 ,25b Off .02 286,000 — .009b — — .0525 .055 Up .0025 20,000 COMMERCIAL SHARES Bank of the Philippine Binalbagan-Isabela Sugar Co.. . Bogo-Medellin ling Co.............. 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........... Manila Broadcasting High 00 22 00 22 00 15 00 78 00 00 00 10 25 0 107.00 100.00 25 8 00 30 195 // 140 0.30 90.00 53 Range igh Low 00 120. 20.00 27.50 12.00 325.00 320 12.00 -150.00 100 50.00 37 Low Close Change Total Sales 105.00 100.00 100 37.00 37 20.50 20 22.50 20.50 Mayon Metal, class Mayon Metal, class Meralco, 6-1/2% Metropolitan ance Co.. . Pasudeco. . . . Credit By C. W. Muilenburg Manager, Credit and Collection Department International Harvester Company of Philippines The active participation of the American Interna tional Underwriters for the Philippines, Inc. in the Asso ciation of Credit Men, Inc. (P.I.) in January increased insurance firm membership to a total of four. A more active participation of insurance firms can prove partic ularly beneficial both to those insurance members them selves and to other members of the Association. Increasing interest in the Association is being shown by insurance companies. While most credit and collection executives complain of difficulty in collections, and some insist the general situation is slightly more difficult than ever, a few have indicated some slight improvement recently. Several credit and collection men have reported some improve ment due to sugar-money now coming in, but still report collections very slow. One credit man reports that his firm usually experiences some improvement in collections about this time of year, primarily because of briskness in construction, with purchasers of construction materials doing a good volume of profitable business. He states that this condition extends beyond construction items and im provement is shown in other lines handled. One credit man reports his own collections have improved, but gives credit to a more serious and conscientious effort exerted and not to any improvement in general conditions. An other collection executive, who reports he is selling still on practically straight cash, has noted some slight im provement recently in collections and can offer no ex planation but is quite pleased with the improvement noted. Surveys recently conducted suggest textiles have been rather dull due to sudden arrivals of many shipments. The situation is clearing as the stocks are being absorbed, and some improvement is already noted. A similar situa tion has resulted in drugs, especially anti-biotics. On a smaller scale, this also has been evidenced in kitchen uten sils and household wares. The result is that most mer chants dealing in the lines noted are in an overstocked position and payments have been slow and extensions have been asked for. Some wholesale dealings have been at very low prices, but retail prices have shown no notice able decline. Suppliers of motor vehicles and allied equipment and supplies, such as tires, batteries, spare parts, and fuel, are feeling the usual seasonal tightness due to the semi-annual license fee payments, which take up most of the available funds. Some shipments of sugar abroad at good prices have resulted in some improvement and, with more sugar ship ments due, the general collection situation should improve still more as a direct result. Copra is holding up. Rice prices are generally lower than at any time since the War but are expected to go up in the next 90 days. Many growers are trying to hold stocks for better prices. 108