Real estate

Title

Real estate

Creator

Hoskins, C. M.

Language

English

Source

The American Chamber of Commerce Journal Volume XXV (Issue No.10) October 1949

Year

1949

Rights

In Copyright - Educational Use Permitted

Fulltext

October, 1949 AMERICAN CHAMBER OF COMMERCE JOURNAL 441 Electric Power Production Manila Electric Company System J. F. Cotton Treasurer,. Manila Electric Company 1949 1948 January......................... 33 745 000 27 301 000 February....................... 31 110 000 26 021 000 March............................. 34 776 000 26 951 000 * April.............................. 33 048 000 26 871 000 L O May................................ 34 453 000 28 294 000 w June............................... 34 486 000 29 216 090 £ July................................ 35 726 000 31 143 000 T August........................... 35 394 000* 31 993 000 September...................... 35 790 000** 32 012 000 October.......................... 33 943 000 R November...................... 32 661 000 O U December....................... 35 104 000 R ___________ S TOTAL ........................... 361 510 000 • Revised •• Partially estimated Output in September set a new record by a small margin. There was an increase of 3,788,000 kwh, or 11.8r< over September, 1948. The rate of increase during the first 9 months of 1949 has been considerably less than in the same period of 1948. In September, 1948, ouput was 17% over the preceding January, whereas in 1949, Sept ember was only 6% above January. It begins to ap pear evident that the future rate of increase in out put will continue to be moderate. It should be borne in mind that there is still a power shortage which will continue until the new 50,000 kw Rockwell Station is completed toward the end of 1950. During the latter half of September it was necessary to cut one or two circuits nightly be cause of overload. Unless there is voluntary ration ing of electricity during the hours of 5 p.m. to 9 p.m. it will be necessary to cut some circuits every night. Real Estate By C. M. Hoskins (0/ C. M. Hoskins & Co., Inc., Realtors) PURCHASES of real estate in Manila totalled P3,668,662 during the month of September, as compared with P2,228,597 for August. Mort gages recorded in September aggregated P5,094,415, compared with P4,924,841 for July. Cumulative totals of sales for the first 9 months from 1946 were as follows: January-September 1946 P32,625,806 1947 54,793,978 1948 44,015,210 1949 28,975,426 Sales in the suburbs recorded in September were 1*3,786,671, slightly higher than the Manila figures for the same month. Quezon City accounted for TYPING EIGHT HOURS A DAY IS NEVER FUN. . . GIVE HER A BREAK, AND INSURE TOP PRODUCTION AT MINIMUM COST AND TIME . . . SMART EXECUTIVES INSIST ON REMINGTON RAND KMC TYPEWRITERS, THE FIRST NAME IN THE BUSINESS WORLD FOR THE PAST 76 YEARS. . . ORDER ONE TOD AY... I TAYLOR PACIFIC (Phil ) LTD ATKINS KROLL I CO.. I NC .-Gen.Mgrs. 124 MYERS BLDG.,PORT AREA’Tel.2-94-67 REAL ESTATE SALES IN MANILA, 1940-1949 Prepared by the Bureau of the Census and Statistics Note: A large percentage of J945 sales and a diminishing percentage of .1496 sales, re present Japanese Occupation transactions not recorded until after liberation. January . February , March . . April . . . May . . . .June . . . July . . . August . . September October . . November December Total . . 1940 P 6,004,145 918,873 1,415,246 883,207 403,866 542,187 1,324,861 1,905,828 1,141,114 993,103 938,416 1,504,004 P17,974,844 PIO,647,285 P22,890,133 1941 P 962,970 779,783 1,532,104 988,380 1,129,736 598,431 559,742 1,239,414 815,112 1,182,678 858,235 (?) 1945 P 7,943,605 1,337,830 (?) 213,262 962,008 1,212,780 1,123,565 699,740 1,870,670 2,096,893 2,555,472 2,874,408 1946 P 4,385,011 2,267,151 2,622,190 1,916,293 3,684,937 3,637,956 4,974,862 4,438,510 4,698,896 5,545,800 3,340,384 4,025,926 P45,537,914 1947 P 6,030,012 7,217,317 7,166,866 8,611,076 4,618,181 3,988,560 4,097,183 5,627,572 7,437,213 6,083,486 4,177,054 3,205,584 P68,260,104 1948 P 3,644,734 3,879,633 4,243,719 5,021,093 3,129,799 8,019,246 5,146,529 6,192,876 4,737,581 5,350,376 3,046,287 5,386,248 P57,798,121 1949 P 3,965,420 2,701,668 3,362,635 3,677,630 4,253,395 2,793,217 3,019,784 4,924,841 3,668,662 P32,367,252 Pl,897,454 of the suburban sales, or about one-half of the total. Owners of commercial properties are somewhat concerned over the threat of broader import control restrictions, fearing that if wholesale and retail mer chants dealing in imports are further restricted, many firm may be forced out of business. Apartment owners are also wondering whether more import con trol will cause an exodus of foreigners. As changes in the control regulations are still under study, the reaction of real estate owners seems to be one watch ful waiting. In general the tone of the real estate market is cheerful. Land values continue firm at about last year’s transaction levels. Buyers are plentiful with a greater tendency to bargaining. Port of Manila By Madox Brown Luzon Brokerage Company THERE has been a decline in waterfront activity during the past month proportionate to the drop in incoming cargo, due mainly to the re strictions of the Import Control which came into ef fect as from the beginning of the month. The num ber of vessels putting in at the piers has slackened off considerably and as a consequence the volume of business has shown a marked decrease. The falling curve of the graph can be gauged ap proximately in a comparison of the past three months with regard to total arrastre charges, marking 20% of the gross collection of the Philippine Ports Termi nal, which are as follows: June .......................................................... P173,103.80 July ........................................................... 164,143.65 August ....................................................... 163,037.07 Paradoxically, however, the total tonnage for August shows an increase over that of July. A breakdown of the figures shows: July Total tons handled on piers ................. P144,821.735 Total tons handled at shipside ............. 35,426.738 Total tons for July ............................... 180,248.473 August Total tons handled on piers ................. Pl57,903.429 Total tons handled at shipside .............. 36,502.029 Total tons for August ........................... 194,405,458 The apparent discrepancy in these figures can be explained in the fact that they include the amount of gasoline, kerosene, oil, cement, and rice coming into the country. The actual amount of purely commer cial cargo, however, definitely shows a decrease. As against the falling off in volume of business handled along the waterfront, there has been a decid ed improvement in handling conditions on the piers. Congestion, which has been the main bugbear in the past, it gradually being cut down and the work on the docks has been correspondingly easier. The im provement has been most noticeable on Pier 5, on which the greatest bulk of cargo is now being dis charged since Pier 13 has been virtually closed down for repair. One shed has already been completed on Pier 5 and work has been started on the second shed. One-way traffic has been instituted and cargo is be ing shifted at a faster pace now that the snarled-up .congestion of trucks has been brought under control. Work is coming on fast on Pier 9, which is pre sently under construction. It is understood that this pier will be ready to start operating by the end of the year. Pier 13 is presently under demolition and will be rebuilt entirely, the same as Pier 9. At the present time, only one ship at a time is allowed alongside this pier for unloading and loading. LABOR relations along the waterfront have been moderately peaceful during the past month. There was a short strike of the Checkers, which for tunately lasted only half a day. The case was im mediately referred to the Court of Industrial Rela tions, which ordered the men back to work. The point at issue involved the matter of payment, the steamship companies desiring to pay the men indivi dually while the Union insisted on the Checkers beingpaid through the Union. The question is still up for arbitration and no definite ruling has as yet been is sued. ONE bright feature has been the result of the campaign instigated by the Philippine Chamber of Commerce aimed at getting an improvement in the quality of packing for incoming cargo, especially car go coming from the United States. This campaign had its origin in the visit of several representatives of the San Francislo Chamber of Commerce to Manila last year for a trade conference held under the aus pices of the Philippine Chamber of Commerce. Among other issues decided at this conference was 442

pages

441-442

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