Weekly changes in retail prices

Title

Creator

Philippines. Bureau of Commerce. Market Division

Language

English

Year

1949

Rights

In Copyright - Educational Use Permitted

Fulltext

March, 194P AMERICAN CHAMBER OF COMMERCE JOURNAL 129 Act of 1948). Section 2(a) of this law provides that a War Claims Commission be established to determine eligibility and process applications. However, the Commission has not been appointed because no funds have been made available. As a result, no claimant has received any money under the Act. It is expected this will be remedied early in the next session of Congress so that those who were interned or im prisoned may get the relief so long overdue. The In ternee Committee which has worked so hard for this badly needed legislation is to be congratulated. “Central Bank. One of the most important pieces of legislation passed by the Philippine Congress... was a bill providing for the establishment of a Cen tral Bank, which is analogous to the Federal Reserve System.. . The Central Bank legislation changes the system from a dollar-exchange standard, with 100 currency backing in U. S. dollar deposits, to local con trol, with monetary authority resting in the Central Bank... “Since the operation of a Central Bank is now authorized by law, the Board hopes that it will be a success and is confident that under the guidance of Secretary of Finance Miguel Cuaderno, all connected therewith will make every effort toward that end. . “... In closing this report I wish to thank the various members of the Board, the Secretary, and his assistants, for their splendid cooperation and loyal support. “C. A. Richards President.” LUZON STEVEDORING COMPANY, INC. MANILA Weekly . Changes in Retail Prices Bureau of Commerce, Market Division February 21 to 26, 1949 SPEARHEADED by appreciable reductions in prices of a number of imported items, the Bureau of Commerce Price Index resumed its downward movement, after registering a slight reaction during the past week, and chalked up a new post-liberation low of 233.78, down fractionally by 0.56 com pared with the level prevailing a week before. While the wholesale price of macan variety rice advanced by P0.50 per sack, retail prices have remained steady and un changed at Pl.40 per ganta for elon-elon, first class, and Pl.35 for second class; Pl.30 for macan, first class, and Pl.25 for second class. During the week, the government price-fixing committee MANILA SHIPYARD, DRYDOCK AND ENGINEERING CO. OFFERS COMPLETE HULL AND ENGINE REPAIR THREE SLIPWAYS AND DRYDOCK AVAIL ABLE. Shipyard: Navotas, Rizal Tel. 40 Ask 499 Office: Room 507 Insular Life Bldg., Manila Tel. 2-89-06 K E R M A T H “Sixteen 5” FIVE HORSE POWER 4 CYCLE INBOARD ENGINE A COMPACT, DEPENDABLE, LIGHT WEIGHT WATER COOLED, ALL-MARINE Marine Tailored FOR RUNABOUTS — FISHING BOATS — UTILITY BOATS — DINGHIES — TENDERS — AUXILIARIES Exclusive Distributors MANILA MACHINERY & SUPPLY CO., INC. 233 David (YWCA Bldg.) and G75 Dasmarinas P. O. Box 607 Manila Tel. 2-72-98 130 AMERICAN CHAMBER OF COMMERCE JOURNAL March, 1949 KARKOTE UNDERBODY COATING PREVENTS RUST • ROT • RATTLE One application of Insul-Mastic Karkote prolongs the life of any auto... new or old. It insulates the exposed un derbody against further rust and rot. .. deadens road noises, too. Inexpensive quickly applied ...get full de tails today. Authorized Karkote Dealers: Manila Trading & Supply Co. Philippine Motors Reliance Motors United Motors '"marsman & CO., INC. Trading Division Sta. Lucia at Anda Tel. 2-79-31 Intramuros. Manila "Boy Scouting is Nation Building” Do Your Part TRAILER TRAINS move along at a fast clip when the motive power is supplied by a rugged, easy-to-operate Yale Elec tric Tractor. Whether your hauls are in the plant, from building-to-buijding, in storage yards or on receiving and shipping docks, the dependable Yale Electric Tractor "delivers the goods” in a hurry —and saves you money. Yale makes a complete line of in dustrial electric tractors. There’s a TRACTOR model with exactly the pulling power you need. Two and four wheel drives. Fixed or automatic trailer couplers. We’ll gladly tell you all about them, feature for feature. At the same time you can learn how Yale High-Lift Fork and Platform Trucks take all the hard work out of loading and unloading trailers. Make an appointment to suit your convenience. Call us today! THE EDWARD J. NELL COMPANY 1450 Arlegui St. Tel. 3-26-15 TOOLS THAT KEEP INDUSTRY ZVA ■ r-\ ON THE MOVE . . . MADE BY V ■ALL J WEEKLY CHANGES IN PRICE LEVEL, 1945-1949 Bureau of Commerce announced the adoption of a new set of ceiling prices for sugar. The new prices, which are lower by 5 to 10 centavos than previous ceilings, have been fixed as follows: refined, P0.45 per kilo; washed, P0.40; golden brown, P0.35; and for sugar below 97’ polarization, P0.30. As a result of this down ward revision, refined eased off to the average of P0.48 per kilo, down 5 centavos, and centrifugal to P0.38, of 2 centavos. Panocha followed accordingly with a 2-centavo loss at P0.23 per kilo. On fresh fish items, only bangus recorded a 2-centavo gain at P2.30 per kilo. Shrimps suffered a conspicuous loss of P0.21 at P2.66 per kilo. Dried fish items were featureless. Price advances were particularly pronounced in certain fresh vegetable items such as string beans, red squash, and silang beans, which made gains ranging from 13 to 25 centa vos per kilo. Tubers were also consnicuous in the advance with sweet potatoes and gabi, Cebu, highlighting the uptrend. One important imported commodity which figured in the recession was wheat flour which recorded a drop of 2 centa vos at P0.48 per kilo. Canned milk also contributed appre ciably to the pulling down further of the index, with certain brands of evaporated milk easing off by 4 centavos at P0.35 per tall tin and condensed (Senorita) going down to P0.60. Among fresh fruit items, bananas dominated the down ward tendency with latundan declining by 7 centavos at P2.43 per hundred, lakatan easing off by P0.14 at P2.94, and saba recording a decrease of 7 centavos at P2.43. Substantial reductions in prices of a number of imported construction material items have provided the most encourag ing aspect of recent price tendencies. Galvanized iron, Gauge No. 26, 3’ x 8’, receded by P0.40 at P9.35 a sheet; asbestos sheet, 3/16” x 4’ x 8’, went down by P0.50 at P7.25 a piece; plywood, 1/4” x 4’ x 8’ lost 50 centavos at PIO.15 a piece, and hardboard, 3/16” x 4’ x 10’, declined by 35 centavos at P8.25. Native construction materials followed the general trend with nipa shingles recording a drop of 25 centavos at P24.25 per thousand. The bargain-sales “stunt” appears to be developing into a fad among textile dealers as evidenced by the numerous "igns in front of bazars announcing such sales. Likewise, these sales attest to the growing effectiveness of consumers’ resistance to high prices which has been evident during- the past few months. As a result of this attitude, a good number of textile items featured prominently in price recessions dur ing the week. Romans crepe, plain, went down to P2.50 per yard, baby shark to Pl.80; sand crepe, to P3.20, sharkskin, 6000, to P3.75, Goodall palm beach, to P8.75 and crystal silk to P2.10 recording decreases ranging from 5 to 25 centavos.

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