Real estate

Title

Real estate

Creator

Varias, Antonio

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No. 5) May 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

May, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 155 period. Consolidated Mines moved against the trend on its increasing production and ore shipments. Generally speaking, the market showed vyy little response to news, favorable or otherwise. Congressional approval of an increase in the corporate tax rate to 28%, also a 17% tax on remittances abroad was virtually ignored. Also receiving no attention, marketwise, was a reliable report that the Central Bank will not seek any increase over the current 25% of production which gold mining companies are required to sell to the Bank at its official price of ?70 per ounce. The coming tax-payment season may cause some in crease in offerings; on the other hand, continued inflationary tendencies are likely to sustain demand for equities; hence there appears little change in the immediate market out look in the absence of unforeseen developments. There has been a further advance in the local price for gold which is now quoted around Pl65 per ounce. In the Commercial and Industrial Section, there has been a noticeable firming in fixed-interest securities as a result of institutional buying and limited offerings. San Miguel improved, and sugar shares were higher. Credit By W. J. Nichols General Manager, General Electric (P.I.) Inc. THE annual meeting of the members of the Association of Credit Men, Inc. (P.I.) was held April 17 at the Winter Garden of the Manila Hotel. Following luncheon the representatives of the following companies were elected to serve as directors for the coming year: Colgate Palmolive Philippines, Inc. Bank of the Philippine Islands General Electric (P.I.) Inc. Rehabilitation Finance Corporation National City Bank of New York Filipinas Compania de Seguros Equitable Banking Corporation In addition, representatives of the following firms were elected as alternate directors: Macondray & Company Manila Electric Company Caltex (Philippines) Inc. Following the general meeting the newly elected di rectors met for selection of officers and the following were chosen: President, H. E. Richmiller—Colgate Palmolive Philippines Inc. Vice President, W. J. Nichols—General Electric (P.I.) Inc. Secretary and Treasurer, S. Orosa, Jr.—Equitable Banking Corp. Work is progressing well on the project of compiling a credit manual for the benefit of the Association’s mem bers. It is planned to hold a general meeting early in June to enable the members to offer suggestions and advice on subjects which they wish to have included in the manual. Real Estate By Antonio Varias Vice-President, C. M. Hoskins Co., Inc., Realtors REAL estate sales in the Greater Manila area registered during the month of April numbered 759, with a total value of P8,676,696, as compared with 716, with a total value of P8,721,477, registered during the preceding month of March. Of the April total, 273 sales, with a total value of STEEL FABRICATORS • CONTRACTORS RIVER & HARBOR WORK • SHIPS’ REPAIRS ENGINEERS • MANUFACTURERS MERCHANDISERS Operating: MACHINE SHOPS FOR CONSTRUCTION AND REPAIR FOUNDRY FOR CAST IRON, DRASS 4 BRONZE STRUCTURAL STEEL FABRICATING SHOP MARINE REPAIR SHOPS • WOOD PRESERVING PLANT ATLANTIC, GULF & PACIFIC CO. OF MANILA 156 AMERICAN CHAMBER OF COMMERCE JOURNAL May, 1951 CALTEX is a leader in the Field oF production and distribution oF these essential petroleum pro ducts—a name that stands For unexcelled quality and uniformity in the petroleum industry. There are more than 3,000 CALTEX dealers in the Philippines to serve your needs in motor, aviation and industrial lubricants— gasoline, Diesel fuels, kerosene and other petroleum products of un surpassed excellence. CALTEX (PHILIPPINES), INC. P5,272,052, represented deals within Manila proper, while 486 sales, with a total value of P3,404,644, were sales within thp cities of Quezon and Pasay, and in the suburban towns of Caloocan, Makati, Malabon, Mandaluyon, Paranaque, and San Juan. Among the bigger sales registered during the month in the City of Manila were: A three-story building of reinforced concrete, the “Brias Roxas Building Annex”, with a lot of 486.3 square meters, situated on San Vicente Street, Binondo, sold by the Brias Roxas, Inc. for P365.000; A property with a lot of 356.5 square meters on Tabora Street, San Nicolas, sold by S. Corrales Tan to Santiago Tan for P200.000; A property with a lot of 344.8 square meters on Evangelista and Palma streets, Sta. Cruz, sold by Ruben Castaneda to Jose Tan for P180.000; A parcel of 2,458.1 square meters on Pennsylvania Street, Malate, sold by Filemon Salcedo, Jr., to Isabel K. Reyes for P159.777; A tract of 22,504 square meters on P. Sanchez Street, Sampaloc, sold by Esperanza Siochi to Mariano de los Santos for P146.276; A property with a lot of 1,634.3 square meters on Gral. Solano, corner Espinosa, corner Padilla streets, San Miguel, sold by Encarna cion de Leon to Francisco Jose for P112.000; A property with a lot of 1,602 square meters on Dart, corner Belen streets, Paco, sold by E. E. Elser, Inc. to Lucia Hernandez for P70,000; and A property with a lot of 226.4 square meters on Nueva Street, -Binondo, sold by Renato Arevalo to Mercantile Investments Co., Inc. for P70.000. Real estate mortgages registered in the Greater Manila area during the month of April, 1951, numbered 358, with a total value of P5,289,762, as compared with 371, with a total value of P 7,408,114, registered during the month of March. Of the April total, 165, with a total value of P3,140,154, represented deals within Manila proper, while 193, with a total value of P2,149,608, were mortgages within the cities of Quezon and Pasay and in the suburban towns above mentioned. REAL ESTATE SALES {January to April, 1951) Manila Quezon City Pasay City Suburbs Total January.... 1’4,466,475 1’1,267,690 P743.346 Pl,453,264 P7,939,775 February.. . 3,549,050 3,775,341 709,598 1,411,773 8,445,762 March....... . 4,562,104 1,698,970 645,878 1,814,525 8,721,477 April........... . 5,272,052 1,178,036 487,954 1,738,654 8,676,696 REAL ESTATE MORTGAGES (January to April, 1951) January... . P2,105,600 P 490,457 P 272,300 Pl,051,546 P3,919,903 February.. . 5,636,640 1,106,948 869,100 1,722,790 8,334,848 March....... . 3,817,877 1,373,880 245,760 1,970,627 7,408,114 April.......... 3,140,154 902,932 188,750 1,057,926 5,289,762 Electric Power Production (Manila Electric Company System) By J. F. Cotton Treasurer, Manila Electric Company 1941 Average—15,316,000 KWH KILOWATT HOURS 1951 1950 January............................................. 40,713,000 37,661,000 February........................................... 37,066,000 33,828,000 March................................................ 40,117,000* 38,107,000 ’Revised

pages

155-156

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