Electric power production.pdf

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Part of The American Chamber of Commerce Journal

extracted text: The cash position of banks remains tight and this condition is also apparent in the business community although collections are satisfactory and inventories show a healthy increase and turnover. Interest rates are unchanged. Early in October, it was announced that Pl 1,500,000 had been made available from public funds for the redemp tion of guerrilla currency issued by underground units during the occupation and emergency notes of the Philippine National Bank released during the war. T'he Import Control Commission has rescinded its A resolution providing for the issuance of import licenses only on a C & F basis. Reports indicate that this require ment had had an adverse effect on business relations between the Philippines and the United States. Licenses now may be issued on a F. O. B., C. I. F. or C 8b F basis. 1951 Range High Low P143.00 P105.00 171 00 152 105 00 00 100 45 00 00 30 320 27 00 320 00 27 00 00 0 36 35 0 315 0 0 12 12 105 27 3 80 0 25 0 0 085 085 50 100 00 COMMERCIAL SHARES Manila Stock Market By A. C. Hall Hall, Picornell, Ortigas & Co. September 22 to October 19 THE International Monetary Fund action in removing restrictions on premium sales of processed gold by producing countries, caused an advance in gold mining shares in American and Canadian markets. This improvement extended to Philippine mining issues traded in San Francisco, and was also followed, in this market, by a sharp rise which carried the mining share average up as much as 10 points at one time in active trading. The sharpness of the advance, however, has impaired the internal position of the market, and prices have relin quished a part of their gains during the past few days. It is likely, in the period immediately ahead, that the market faces a time of consolidation and digestion. In this process, prices may have to recede somewhat further before reaching a base from which the major up-trend can be resumed. The price of fine gold in the local free market has ex perienced a fair degree of fluctuation during the period under review. From Pl20 per fine ounce a month ago, the price dipped to Pl 10 before attracting substantial support and is now quoted approximately at Pl 15. In the commercial and industrial section demand for investment-grade of equities continues good, but fixed interest securities have weakened as some individual holders have liquidated in order to switch to equities. 75 0 20 7 50 20 1951 Rangt High Lo 115." „= MINING SHARES 75 88 11 0 32 0 16 0 0 0775 0 39 0 028 21 0 14 0 08 2 80 2 00 0 0036 002 5 0 0 0 10 026 011 275 0 16 0 165 0 075 0 0 0 0 0 0 0 017 0 Oil 0 105 0 06 315 0 17 0 0 0 355 035 13 0 0 0 22 02 05 M.S.E. Mining Share Acoje Mining Com pany .......................... Antamok Goldfields. . Atok Big Wedge MinBaguio Gold Mining Co.............................. Balatoc Mining Com pany .......................... Batong Buhay Gold Benguet Consolidated. Coco Grove, Inc......... Consolidated Mines, Inc............................. Hixbar Gold Mining Co.............................. Itogon Mining Com pany .......................... I.X.L. Mining Co.. .. Lepanto Consolidated* Masbate Consolidated Mindanao Mother Misamis Chromite Paracale Gumaus San Mauricio Mining Co............................... Surigao Consolidated*. Suyoc Consolidated... United Paracale MinCo............................... *—Ex-Dividend H gh Low Close Change Total Sales 115 75 105.02 112.69 Up 7.92 20,392,465 32 0775 29 0525 305a Up 075 Up .02 .0225 285 23 24 Up .02 914,000 2 50 0036 10 021 27 165 055 80 05 375 014 105 315 355 026 .13 1225 2 135 Up 50 2 0032 65 0875 0155 245 145 041 71 038 315 014 09S 21 34 026 .115 50 .025 575,000 2,180 0035 Up .0001 65 Off .10 095 Up .005 1,732,500 8,720 955,000 0205 Up .0045 6,855,000 26 16a 055 77 049 335 014 500,000 50 50 , 0525 0 00 00 012 1 46 1 30 . 37 00 26 50 100 00 94 00 105 SO 102 00 16 00 15 00 7 00 6 50 High Low Close Bank of the Philippine Islands....................... P 142.00 P 140.00 P 140.00 Bogo-Medellin MilCentral Azucarera de la Cariota . Central Azucar Pilar.......................... Central Azucarera de Tarlac....................... 45.00 China Banking Corp. 320.00 Filipinas Cia. de Manila Broadcasting Co.............................. Manila Wine Mer chants, Inc............... Marsman & Co. Inc., Mayon Metal.............. Mayon Metal 7 % pref............................ Meralco 6-1/2%........ Metropolitan Insur ance Co.................... Pampanga Bus Com pany .......................... Pasudeco...................... Philippine Air Lines... Philippine Oil DevelopPhilippine Racing Club, Inc................. San Miguel BrewerySan Miguel Brewery 7% pref.*................. San Miguel Brewery 8% pref*................... Universal Insurance & Indemnity................ Williams Equipment del 165.00 27.00 .27 .30 30 00a 165.00 165 00b 45.00 45 320.00 320 101.00 .60 7.50 .035 37.00 98.50 103.00 15.00 Co. 27.00 .27 .30 27 00 27 20b 30 13a 10b .00 ISO .60 7 50 00b 20 7 023 42 36 00 96 00 103 Change Total Sales Off 3.00 Up 5.00 Up 5.00 Off 3.00 T 210 165 400 S3 167 >,000 3,000 60 00b SO 025 42 37 00 96 00 00 103 00 15 15 00 8 00a 100 Off .01 Off .04 Up 1.00 Off 2.25 Off .50 210,000 29,230 770 625 OVER-THE-COUNTER Company Gold River Mining Co............................... Philippine Electrical Manufacturing Co. Philippine Iron Mines, Inc........................ Polo Coconut Plantation Co.................... Realty Investments, com......................... Tayson Gold, Class "A”............................ Victorias Milling Co., Inc........................ Close 0.01 100.00 95.00 900.00 8.00 0.001 175.00 Total Sales 50,000 232 688 5 1,000 43,850 150 Up .01 Up .015 Up .08 Up .012 Up .035 100,000 105 28 35 026 .13 Up .015 Up .06 Up .005 Up . 004 Up .0275 53,00 156,000 20,000 330,000 Electric Power Production (Manila Electric Company System) By J. F. Cotton Treasurer, Manila Electric Company 1941 Average—16,316,000 KWH January.................................................. February................................................ March..................................................... April....................................................... May........................................................ June........................................................ July........................................................ August................................................... September............................................. October.................................................. November............................................. December.............................................. KILOWATT HOURS 1951 1950 40,713,000 37,661,000 37,066,000 33,828,000 40,117,000 38,107,000 39,197,000 35,378,000 40,405,000 37,611,000 40,712,000 37,529,000 42,041,000 38,774,000 42,817,000 39,872,000 41,852,000* 38,791,000 44,042,000** 40,657,000 — 39,268,000 — 41,099,000 Total................................................................................. 458,576,000 ♦Revised •’Partially estimated z-'vutput in October jumped over the 44,000,000 KWH '-'mark, a new record. There was an increase of 3,385,000 KWH’s or 8.3% over October, 1950. A new peak-load of 111,000 KW was registered on October 9 and a new daily record of 1,524,300 KWH’s was set on October 25. The Rockwell Station gross output of 28,080,000 KWH’s was also a new high, representing approximately 60% of the total system production. It is interesting to note that the average hourly load ing of the system for the month was just slightly above one-half of the highest peak-load. This indicates that if 377 it were possible to store electricity the system capacity could be very greatly reduced; but since electricity must be generated the instant that it is used, capacity must be available to meet the highest demand. With the advent of shorter days and the holidays, higher demands are expected to strain system facilities. Two large central station additions are now in progress to provide more capacity in future years. April. .. May... . June.... July.. . August.. Sept.... October.. 3,140,154 3,753,891 4,215,944 3,233,375 9,413,329 6,110,125 3,868,876 902,932 1,150,614 5,184,350 1,188,026 1,926,098 2,860,320 3,342,480 188.750 372,032 869,144 351.750 757,300 289,760 682,930 1,057,926 1,231,810 1,531,450 1,925,497 3,171,420 2,653,960 2,800,185 5,289,762 6,508,347 11,800,888 6,696,648 15,268,147 11,914,165 10,694,471 Real Estate By Antonio Varias Vice-President, C. M. Hoskins S* Co., Inc., Realtors REAL ESTATE sales in the Greater Manila area regis tered during the month of October numbered 640, with a total value of P5,316,966, as compared with 519, with a total value of P5,818,368, registered during the preceding month of September. Of the October total, 204, with a total value of P2,021,905, represented deals within Manila proper, while 436, with a total value of P3,295,061, were sales within the cities of Quezon and Pasay, and in the suburban towns of Caloocan, Makati, Malabon-Navotas, Mandaluyong, Paranaque, and San Juan. Among the bigger sales registered during the month were: A property in Quezon City sold by the Lutheran Church to Ester D. Herrera for Pl 50,000; A property with a lot of 4,000.98 square meters on San Luis Street, Ermita, sold by Deutcher Klub, Inc. to Claro M. Recto for P140.000; A 2-story apartment building with a lot of 832.7 square meters on Taft Avenue, Malate, sold by Felipe C. Roque to Anicia Santos for the reported sum of P65.000; A property with a lot of 223.1 square meters at Padre Gomez and Sales streets, Sta. Cruz, sold by Fred M. Harden to Apolonio Aguirre for P65.000; A property comprising a 3-story concrete building with a nicely improved lot of 2,004 square meters on Easy Street, San Juan, sold by Jose Ma. Ansaldo to Francisco Fule for P62.000; and A property with a lot of 2,684 square meters in San Juan sold by Francisco Fule to Edmundo A. Reyes for P50.000. ■p eal estate mortgages registered in the Greater Manila -*'-area during the month of October numbered 618, with a total value of P10,694,471, as compared with 469, with a total value of Pll,914,165 registered during the month of September. Of the October total, 235, with a total value of P3,868,876, represented deals within Manila proper, and 383, with a total value of P6,825,595, were deals within the cities of Quezon and Pasay, and in the suburban towns mentioned above. Building Construction By Juan J. Carlos President, United Construction Co., Inc. DURING the month of September, the Office of the City Engineer approved building permits for con struction work amounting to P3,217,240. For the same period last year, the volume of work authorized amounted to P2,351,020, in comparison with P4,949,690 in 1949 and P5,144,350 in 1948. Among the big projects that were started during the month under review were: A 3-story commercial building for Ho Thay Co., costing Pl70,000 at 710 Ylaya, Tondo. A reinforced concrete bodega for the Alhambra Cigar 8s Cigarette Manufacturing Co. on Tayuman, Tondo, estimated at P150.000. Remodelling and alterations to the Dalisay Theater on Rizal Avenue, costfog P120.000. In general, prices of essential items during the period under review were steady. Demand for materials was small. It is expected that prices will continue to be firm. In the present-day construction business, Intramuros district has assumed a position of great importance. Trad ing of properties in this section during the last few months has been brisk. There are at least three important projects which are scheduled for immediate construction, but due to lack of a definite and clear-cut policy on the design of structures in this area, the projects are still frozen on the boards. The proposed 6-story office building of the PhilippineAmerican Insurance Co., which is estimated to cost ?6,000,000 is still awaiting the “go” signal from the authorities concerned. Likewise, the proposed P2,000,000 college building for the Lyceum of the Philippines, on the former site of the San Juan de Dios Hospital, can not be started yet. A proposed gymnasium for the Mapua Institute of Technology on a newly acquired 18,000 sq. m. lot, for which the Institute paid more than P 1,000,000, is still on the boards. There are several minor projects in this area which will be started as soon as a definite policy on con struction is laid down by the authorities. REAL ESTATE SALES (From January to October, 1951) January.. February March... April.. .. May........ June........ July......... August... Sept........ October.. Manila Quezon City Pasay City Suburbs P4,466,475 3,549,050 4,562,104 5,272,052 2,586,055 2,793,341 2,839,423 1,890,113 3,879,750 2,021,905 Pl,267,690 3,775,341 1,698,970 1,178,036 1,394,514 1,435,895 1,066,942 1,986,826 946,647 1,325,274 P743.346 709,598 645,878 487.954 819,779 578.954 497,387 149,318 119,942 652,482 Pl,453,264 1,411,773 1,814,525 1,738,654 1,505,885 1,793,395 1,697,312 1,295,144 872,029 1,317,305 Total P7,939,775 8,445,762 8,721,477 8,676,696 6,306,233 6,601,585 6,101,064 5,321,401 5,818,368 5,316,966 REAL ESTATE MORTGAGES (From January to October, 1951) January.. P2,105,600 P 490,457 P272.300 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 Port of Manila By L. E. Burgett Operations Manager, Luzon Brokerage Company WITH the settlement of the United States East Coast waterfront difficulties, tension here eased noticeably. The effect on our imports from the United States will be limited to only a short delay in arrivals about the latter part of this month. Commodities of all types continue to pour into Philip pine ports in an ever-increasing stream. Noteworthy is the fact that more “materials for manufacture” are appearing on the cargo manifests, while items in the upper tax brackets continue to diminish. Many shipments of ECA sponsored goods have already arrived and are being distributed, and we expect a general stimulation of business to result from the ECA financing 378
Date: 1951
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