Lumber

Title

Lumber

Creator

Reyes, Luis J.

Language

English

Year

1950

Rights

In Copyright - Educational Use Permitted

Fulltext

Real Estate By C. M. Hoskins (Of C. M. Hoskins Co. Inc.,Realtors) REAL estate sales registered in Manila during January amounted to P4,486,846, as compared with P2.090,943 for January, 1949. Comparative January figures for the past years are: January 1950............................................................. P4,486,846 1949............................................................. 2,090,943 1948............................................................. 2,583,300 1947............................................................. 2,840,014 1946............................................................. 4,116,696 1941............................................................. 962,970 Mortgages registered amounted to P3,054,080 for January, as compared with P3,965,420 for January, 1949. Suburban sales for January were Pl,244,324 in Quezon City, P819.702 in Rizal City (Pasay), and Pl,489,835 for other suburban towns, making a January total for all suburbs of P3,549,861. Mortgage funds for long term loans are not so easy to come by as previously, especially with the Rehabilitation Finance Corporation temporarily out of the real estate mortgage field except as to prior commitments. The dis tribution of mortgage loans by creditor class registered in January was as follows: Rehabilitation Finance Corporation...................... P297,000 Philippine National Bank. ........................................ 456,270 Other banks.................................................................... 1,820,410 Insurance and other financial entities.................... 79,500 Private investors........................................................... 400,900 The jump in private bank mortgage loans is notable. No figures are available to show how much of these loans were real-estate financing loans, and how many were com mercial loans collaterally secured by mortgages on real estate. The demand for real estate continues strong, with no weakening of prices, and with inquiries more numerous than for any time since 1947. Vacancies in office buildings and in the higher-rent apartments are developing as a result of import and ex change controls. Foreign staffs are being cut by some firms. Others are moving offices to smaller quarters. This is not a broad movement yet, as unexpired leases are in many cases cushioning the trend. Moreover, many op timists are maintaining existing staffs and facilities in the expectation that the situation will clear up or with a view to switching to other lines. Despite the growing number of vacancies, commercial and apartment properties continue in strong demand among investors, who are reconciled to a lower rental return, providing they can get a desirable property. Subdivision lots continue in strong demand in Manila and its populous suburbs. Early in February, a 50-hectare Tondo tract belonging to B. H. Berkenkotter and W. Ick was put on the market under the name of North Balut Subdivision. Activity in the vicinity of the proposed capital site has fallen off, in anticipation, perhaps, of a delay in the realization of the project due to budgetary considerations. Lumber By Luis J. Reyes Philippine Representative, Penrod, Jurden S5 Clark Company THE total export for the month of December amounted to 6,513,641 board feet, as compared with 4,048,058 board feet for the previous month, an increase of 38%. While the United States absorbed a total of 2,494,170 board feet in November, the quantity dropped down to 1,602,447 board feet in December. A notable increase was noted in shipments to Far Eastern countries (Japan, Okinawa, Hongkong, and Formosa) and to South Africa. Only a quarter of a million feet went to China, possibly because of the internal troubles there. Reports from several importers in the United States speak of renewed interest in Philippine woods. The prices, however, have dropped down to still lower levels to com pete with those coming from other tropical countries. The local lumber trade continues to be active, with wholesale prices at about P170 for white lauan, P180 for apitong, and Pl90 for tangile and red lauan. There have been sales at P5 more per thousand, but only in small lots sold to the smaller dealers. The consumption is big but the supply seems to be catching up with the demand. There are indications that the price-curve has reached its highest level. The last tender in Japan, held under the auspices of SCAP, was won by a local concern, bidding $21.45, or about Pl7.88 per cu. m., f.o.b. Philippine port, for veneer logs. A late report from Japan, however, is to the effect that SCAP cancelled the last bid, perhaps to let importing firms deal directly with producers abroad since authority to do so was granted effective January 1, 1950. On December 10, 1949, the inauguration of the plywood plant of Woodworks, Inc., situated at Tandoc, Siruma, Camarines Sur, took place. The event was made to coincide with the 70th birthday of Jacob Chetvernia, mill superin tendent and designer and builder of the veneer and plywood machinery. Some 80 to 85% of the castings of the various units were made in Shanghai, the rest was made and as sembled in the Philippines. Director Florencio Tamesis of the Bureau of Forestry and several representatives of commercial firms in Manila doing business with Wood works were on hand to witness the inauguration. All were enthusiastic about the performance of the various units, principally the veneer-lathe, the hot press, the automatic dryers, and the scrapers and auxiliary machinery. When the Company starts on a regular production schedule, the plywood and the door factories will employ several hun dred people. At present, the factory is producing in the neighborhood of 400 sheets of 4X8-foot panels a day of 8 hours. This quantity will be materially increased upon the operation of a slicer, other automatic veneer-dryers, and a hydraulic press. The factory is well laid-out, with ample room between the machinery, thus avoiding con gestion in the various stages of the plywood manufacture. The company has also under construction a door factory and a new circular mill which will be completed in a few months. Mines By Chas. A. Mitke Consulting Mining Engineer PHILIPPINE GOLD, CHROMITE, AND COPPER PRODUCTION GOLD Tons Atok-Big Wedge......... 148,137 Benguet-Balatoc......... 536,568 Mindanao Mother Lode........................... 98,200 Surigao Cons................ 98,952 Taysan........................... 22,952 1948 Value Tons Value 4,489,975 147,997 P 4,633,215 7,302,907 391,132 5,633,928 3,352,437 68,700 2,270,779 2,315,827 72,851 1,449,468 564,729 7,584 326,242 904,120 P18,025,875 688,264 P14,313,632 CHROMITE Acoje.............................. 57,741 P 1,864,110 10,000 P 330,000 Consolidated Mines. . 165,340 3,316,050 230,099 4,410,781 Misamis Chromite. . . 3,598 209,750 — — 226,679 P 5,389,910 240,099 P4 COPPER Lepanto Cons.............. 184,497 P 6,364,534 6,282 P 1,968,490 TOTAL..................... 1,315,296 P29.780.319 934,645 P21,022,903 69

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