Textiles

Title

Textiles

Creator

Saussotte, W. V.

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No. 7) July 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

July, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 239 It is estimated that flour supplies on hand or to arrive will amply take care of the country’s requirements for 8 to 10 weeks. Consequently, buying under new IWA prices may be deferred. Since the country’s rice production will be insufficient for normal needs, importation of this cereal will shortly be arranged. PRISCO will complete contracts soon, in volving an expenditure of more than $3,000,000. The country’s requirements for foodstuffs, both lo cally produced and imported, are at present more ade quately covered than has been the case for some months. While many luxury items may be lacking, the prime neces sities will be available throughout the country at reason able prices to the consumer. Textiles By W. V. Saussotte General Manager Neuss, Hesslein Co., Inc. THE new import control law, Republic Act No. 650, be came effective on July 1 and in accordance with certain provisions thereof, PRISCO and the old Import Control Administration were divested of their licensing authority as of the 30th of June. Republic Act No. 65.0 provides that all imports which previously were decontrolled by Executive Orders will continue to be decontrolled. All other imports are con sidered as “controlled” and are divided into essential and non-essential imports. Essential imports are those which appear in Appendix A of Republic Act No. 650, whereas non-essential imports are those which do not appear in Appendix A or which are not decontrolled. On July 2 the Monetary Board of the Central Bank allocated to the new Import Control Commission $94,000,000 for essential imports and $43,000,000 for non-essential imports to cover the period from July 1 to December 31 of this year. The status of most textile items Under the new import control regulations is at present uncertain because the contents of Appendix A, in its final form, still have not been deter mined by the import control authorities. Clarification is expected sometime during the middle of July. Due to the liberal licensing of decontrolled textile items by PRISCO during the month of June, local prices have dropped on an average of about 40% from their previous highs and in some instances the drop has been as much as 50%. During June arrivals from the United States- total 6,110 packages, including 1,430 packages of cotton piece goods and 440 packages of rayon piece goods. Included also were 1,470 packages of cotton seine twine and wrap ping twine, and 198 packages of cotton sewing thread. Arrivals of all textiles from other countries, including made-up-goods, consisted of 1,485 packages from Japan. 137 from China, 162 from Europe, and 814 from India, the latter consisting entirely of Hessian cloth and Fiji cloth. June’s total arrivals from all sources amounted to 8,708 packages, representing approximately half of May’s arrivals. This reduction in comparison with May’s arrivals, is normal in that June and July are “off-season” as far as the local textile market is concerned and importers generally do not buy for arrival during these months ex cepting for staple items. OTIS ELEVATOR COMPANY 142-13th Street Tel. 3-37-20 Port Area Myers Building Manila ELEVATORS • DUMBWAITERS • ESCALATORS ENGINEERING AND PLANNING We are always ready to help architects, engineers and building planners with the exacting job of applying vertical trans portation equipment to modern traffic needs. To save time and effort, consult us during the earliest planning stages. You can get the help of Otis engineers by contacting your Otis office. This service is free and without obligation. An Incentive to BETTER SALES CUNANAN’S UP-TO-DATE WALL MAP OF THE PHILIPPINES 34 X 48 INCHES Has 3 useful inset maps: Physical Physical-Economic Maps of the Phils., and Air Routes of the Orient. PRICE ONLY P8.00 (Post. F.7«) QUIAPO, MANILA P. O. BOX 620

pages

239

Media