Real estate

Title

Real estate

Creator

Hoskins, C. M.

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No.7) July 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

A 11 commodities moved in a narrow range, nothing •“■spectacular either way. In general, all were adversely affected by the House of Representatives’ cut of the Eu ropean Recovery Program funds. New York spot cotton sold at a high for the period of 39.13 on June 2, but closed at 37.28. Favorable crop news and the disappointing export demand were somewhat offset by the prospects of loans to Japan to buy cotton. Chicago wheat (July) declined from a high of 235-3 4 on May 28 to a low of 227-1/4 on June 14, and then rallied to close at 230-3 8. Buying by various government agehcies for export sup plies, offset predictions of another bumper wheat crop. Dryness in the maize belt made corn somewhat stronger; the low for July was on May 27 at 214-1/8, the high on June 22 at 223-1/4. Credit By W. J. Nichols Treasurer, General Electric (P.I.) Inc. THE trend of increasing capital lockup in accounts receivable, reported by wholesaling firms during the month of June, was due in part to continued demands from retailers for more favorable credit terms. The situation does not appear to be disturbing and is con sidered by some credit managers as merely a sign of return to normal conditions. However, business men engaged in credit and collection work are continuing to examine carefully all delinquent accounts. Several instances were reported in which further shipments to customers have been held up for non-payment of overdue bills. One problem which continues to occupy the attention of credit managers to some extent is the settlement of pre war debts. The liquidation of these old accounts has been delayed by the debt moratorium and by the loss of records and accounts during the Japanese occupation. Several firms report that although their larger accounts with pre? war customers have been settled by mutual agreement and compromise, a considerable number of receivables on their books at the outbreak of the war still remain open. It is quite likely that the majority of these debts will never be fully paid up. Demand for installment plan financing continues to increase. Although restricted at first largely to the metro politan area of Manila, this form of financing is gradually spreading throughout the provinces. It is believed that with larger supplies of merchandise on hand and more active competition, wholesalers are finding it necessary to accept installment contracts. Note: January. February March.. April. .. May.... June.... July. • • • August.... September. October... November. December. Totai____ COMPARATIVE STATEMENT OF REAL ESTATE SALES IN MANILA A large percentage of 1945 sales and a diminishing percentage of 1946 sales, represent Japanese Occupation transactions not recorded until after liberation. Prepared by the Bureau of the Census and Statistics 1940 1941 1945 1946 1947 1948 P 6,004,145 P 962,970 P 7,943,605 P 4,385,011 P 6,030,012 P 3,644,734 918,873 779,783 1,337,830 2,267,151 7,217,317 3,879,633 1,415,246 1,532,104 (?) 2,622,190 7,166,866 4,243,719 883,207 988,380 213,262 1,916,293 8,611,076 5,021,023 403,866 1,129,736 962,008 3,684,937 4,618,181 3,129,799 542,187 598,431 1,212,780 3,637,956 3,988,560 1,324,861 559,742 1,123,565 4,974,862 4,097,183 1,905,828 1,239,414 699,740 4,438,510 5,627,572 1,141,114 815,112 1,870,670 4,698,896 7.437,213 993,103 1,182,678 2,096,893 5,545,800 6,083,486 938,416 858,235 2,555,472 3,340,382 4,177,054 1,504,004 (?) 2,874,408 4,025,926 3,205,584 Pl 7,974,844 P 10,647,285 P22.890.133 P45,537,914 P68.260.104 P19,918.908 Electric Power Production {Manila Electric Company System) By J. F Cotton Treasurer, Manila Electric Company 1941 Average — 15,316,000 KWH 1948 1947 January.................................... 27,301,000 17,543,000 K February.................................. 26,021,000 17,503,000 I March....................................... 26,951,000 20,140,000 L April............................ ......... 26,871,000 19,601,000 O May........................................... 28,294,000 ♦ 19,241,000 W June........................................... 28,950,000 ♦♦ 17,898,000 A July....................................................................................... 22,593,000 T August................................................................................. 23,358,000 T September......................................... 23,122,000 October................................................................................ 24,755,000 H November............................................................................ 24,502,000 O December............................................................................ 25,725,000 U ...................... R ' Total...................................................................... 255,981,000- S ** Partially estimated A continued sharp increase in output was recorded in June despite it being 30-day month. The daily output record set in May became the average for June. The increase in June over May was 656,000 KWH (2%), and the increase over June, 1947, was 11,052,000 KWH (61.7%). It should be noted that output is now nearly double that of 1941 (189%), and nearly triple the output in June, 1946. Real Estate By C. M. Hoskins (Of C. M. Hoskins & Company, Realtors) THE months of May and June showed considerable real estate activity, several large properties having chang ed hands, with the usual volume of smaller units. The war-damaged University Club Building on Dewey Boulevard and San Luis was sold for P450.000 to a Filipino investor who has already begun rehabilitation of the prop erty. The historic Botica Boie property on the Escolta was sold to J. M. Tuason & Company for Pl,020,000. It is reported that the sellers will use the proceeds to build on their 2,000-meter lot across the street, meanwhile con tinuing to occupy the old property. J. M. Tuason 8b Company also bought for P640.000 from the Pnilippine Alien Property Ad ministration the old Mori Bicycle store site on Rizal Avenue and Soler Slyeet. The large Geo. H. Fairchild property in Pasay was sold to a Negros planter, Don Benjamin Jalandoni, at a re ported P530,000. 249 AMERICAN CHAMBER OF COMMERCE JOURNAL July, 1948 BUILDING CONSTRUCTION IN MANILA: 1936 TO 1948 MONTH I 1936 1 1937 1 1938 1939 1 1940 1 1941 1 1945 1 1946 1 1947 1948 (Value) | (Value) | (Value) (Value) | (Value) | (Value) | (Value) | Value) | (Value) (Value) January.................. P540.030 P426.230 P694.180 P463.430 Pl,124,550 1,025,920 P891.140 P — Pl,662,245 P3,645,970 P6,571,660 February................ 720,110 479,810 396,890 434,930 1,063,050 467,790 — 2,509,170 3,270,150 6,827,005 March.................... 411,680 1,300,650 662,840 671,120 641,040 — 3,040,010 3,398,910 7,498,560 April........................ 735,220 659,680 770,130 1,029,310 962,420 408,640 462,020 3,125,180 8,295,640 7,370,292 May........................ 400,220 670,350 1,063,570 1,139,560 740,510 335,210 1,496,700 3,968,460 5,564,870 June......................... 827,130 459,360 754,180 809,670 542,730 418,700 2,444,070 3,904,450 5,898,580 July......................... 302,340 691,190 756,810 495,910 357,680 609,920 1,741,320 3,062,640 9,875,435 August.................... 368,260 827,660 627,790 622,050 661,860 306,680 1,418,360 4’889,640 7,428,260 September............. 393,100 777,690 684,590 554,570 590,380 53,0830 1,015,250 7,326,570 7,770,310 October.................. 363,120 971,780 718,190 645,310 738,700 699,040 639,030 4,630,550 6,747,240 November............. 460,720 320,890 972,310 461,580 485,100 315,930 1,364,310 4,373,390 7,088,283 December.............. 648,820 849,160 503,230 1,105,970 333,490 67,553 1,605,090 5,034,600 4,924,320 Total............ 6,170,750 7,530,690 9,280,560 9,053,250 8,234,460 5,692,273 12,186,150 47,526,905 73,907,248 Annual Average.. 514,229 627,557 773,380 754,438 686,205 474,356 1,015,513 3,960,575 6,158,937 Compiled by the Bureau of the Census and Statistics from data supplied by the City Engineer’s Office. Subdivision activity continued at a high level. A sizeable subdivision in Santa Mesa, containing 110 res idential lots, was practically sold out within a month of its first offering, at a sales total of approximately Pl,500,000. Mortgage funds continue abundant at 6% to 1% in terest, with insurance companies taking a growing partici pation of mortgage offerings, although the Reconstruction Finance Corporation is still absorbing the lion’s share. An ancient Manila landmark, the old Civil Hospital on Azcarraga Street, which later became La Minerva Cigar Factory and S. M. Berger & Company offices, was finally demolished completely in June, to give way to a 3-story, million-peso private business college now under construc tion there. SJhrt ^L/out ^Pzintin^ SEE US or CALL 2-94-76 NO EDITION TOO LARGE . NO ORDER TOO SMALL PRINTING BOOKBINDING ENGRAVING PRINTING PRINTING HEADQUARTERS SINCE 1899 (A DIVISION OF PHILIPPINE EDUCATION COMPANY, INC.) 1104 CASTILLEJOS • QUIAPO, MANILA QUALITY PRINTING - NOT THE CHEAPEST BUT THE BEST

pages

249-250

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