Credit

Title

Credit

Creator

Luthi, P.

Language

English

Source

The American Chamber of Commerce Journal Volume XXX (Issue No. 6) June 1954

Year

1954

Rights

In Copyright - Educational Use Permitted

Fulltext

1953-54 Range High Low 185.00 135.00 COMMERCIAL SHARES High 72.50 60.00 105.00 100.00 45.00 26.00 370.00 360.00 12.00 10.00 24.00 22.00 10.00 LOO 7 50 7.00 0.27 3.35 2.80 34.00 7.50 20.50 5.00 11.50 14.50 ____ 0.0525 0 014 100.00 34.50 99.50 29.00 100.00 94.00 13.00 13.00 14.00 13.50 Bank of the Philip pine Islands............. Central Azucareia de Central Azucarera de la Cariota................ Central Azucarera del Pilar.......................... Central Azucarera de China Banking Corp. Cia. de Ctluloaa de Filipinas................... Filipinas Cia. de SeIndustrial Textiles Mfg. Co., P.I.......... Insular Life Assur ance Co.......... .......... Manila Broadcasting Co.............................. Manila Wine MerMayon Metal, class ,4B”........................... Meralco, 6-1/2%....... Metropolitan InsurPasudeco...................... Philippine Air Lincs, Inc.............................. PLDT Co., com........... Philippine Oil Dev elopment Co., Inc.. R & D 4% bonds, 1959. San Miguel Brewery, San Miguel Brewery, 7% pfd...................... San Miguel Brewery, 8% pfd...................... Talisay Silay Milling. Univ. Insurance 8s In demnity.................... 14.00 T—Bond sales reported in uni< Low Close Change Total Sales — 182.00b 00b — 100 00a 45.00 11.00 L 50 20 104 00 104 00 28.00 7.50 14.50 00 00b 00 22 50b 25a 7 00b 3 00b 05b 104.00 — 140 28.00 ~~ 7.50 13.75 .046 28 00b 00 7 14 50 00 .025 99 34.50 33.00 99.00 98 00 34 50 98 50 105.00 105.00 105 — — 20 00 00a Up 3 00 Up .25 Up .05 Off 6.00 T Up 1 50 Up Oil Up 1.50 - 562 240 •315 200 1,000 6,011,250 6,400 122 10 only promptness of settlement of accounts, but also ham pers general business operations. It is hoped that the Bureau of Posts will take remedial measures and will re employ sufficient personnel to improve a service which has given cause for so many complaints during the past few weeks. On the other hand, bank credit executives have noted efforts of bank clients to settle as early as possible the accounts arising from import and other bills, apparently to avoid additional business expenses arising from the imposition of the foreign-exchange fax on certain imported items which so far were exempt. npHE Association of Credit Men, Inc. (P.I.) has organized A a new membership committee in line with its program to invite greater participation in the Association. The Association has also taken steps, through its Board, to make inquiries regarding municipal ordinances in effect in the City of Manila regarding the use of commercial business signs and the numbering of houses. The enforcement of these ordinances will obviously be to the advantage of business firms in their normal business operations. In recent months the Association has also undertaken cer tain projects to simplify collection systems and enthusias tic response has been elicited. Some companies have al ready reported quite favorable results, having noted an increase of payments by check through the mails, this eliminating the need of sending of collectors. 14.00 14.00 s of MOO. Up .50 300 A. L. Amman Transportation. Demonstration Gold Mines.. . Far Eaatern University............ Marinduque Iron Mines.......... Motor Service Co...................... Philippine American Drug Co. Victorias Milling Co., Inc........ O VER-THE- COUNTER High Low .... P 50.00 P 5i .022 00 13 20 50 00 7! 00 9! 135 2 72 96 Close Total Sales P 50.00 11 . 022 9,08 135.00 2 .20 5,00 2.50 2,00 72.00 10 95.00 1,35 Electric Power Production (Manila Electric Company System) By J. F. Cotton Treasurer, Manila Electric Company 1941 Average—16,316,000 KWH Credit By P. Luthi Treasurer, Menzi & Co., Inc. MOST of the larger local business houses, with only a few exceptions, have noted a continuing slowness in collections. It is noteworthy in the comments of reporting firms that accounts which have normally kept payments within 30 days are now running from 45 days up to 90 days. The general attitude among credit executives is to allow ex tensions requested by regular and deserving customers, as the predominant feeling is that business conditions have not improved. However, they are adopting a policy of strictly choosing their customers as a precautionary measure. Some have stated that they expect continued slowness in collections. One credit executive reported that his company is now following the practice of requiring further securities on accounts which heretofore have been fairly prompt but which have become slower. In other doubtful cases a policy has been laid down to revert credit accounts to cash accounts. Among provincial accounts, it has been noted that various excuses are being given for delayed payments,—that they are waiting for the company salesman, that they were not able to collect their own outstanding accounts, that shipments were delayed, etc. One business house reported that in order to accommodate customers it is experimenting with a policy of relaxing the credit terms. Considerable delays in the distribution of mail have been noted lately by many business concerns, resulting in some uneasiness regarding this situation which affects not Kilowatt Hours 1954 1953 January.......................................................... 57,301,000 50,107,000 February........................................................ 52,447,000 45,501,000 March............................................................. 57,779,000 50,789,000 April................................................................ 54,408,000* 49,159,000 May................................................................ 57,775,000** 52,042,000 June................................................................ 51,304,000 July................................................................. 53,877,000 August............................................................ 54,275,000 September..................................................... 53,636,000 October.......................................................... 55,943,000 November..................................................... 53,756,000 December...................................................... 57,968,000 Total......................................... 628,357,000 •Revized ••Partially estimated MAY outpht was 5,733,000 kwh’s;, or 11%, above May, 1953. During the past two months the raf.e of in crease over the preceding year has declined slightly. This is, however, accounted for by the temporary shut down o'f a large industrial cdhcern. New lower power'rates were made effective May 1. Savings for customers are estimated at over P700,000 annually. During the preceding year, residential and commercial rates were also decreased. Total annual cus tomer savings for the three rate reductions are estimated to exceed P2,900,000. Total expenditures for new construction since Libera tion totalling over ?75,000,000 have provided more efficient generating equipment. This couplfed with th'e efforts of well trained, loyal employees and the steadily increasing use of electricity, has made possible the lower rates. ■cor the past two years this column has made a brief report on electric power production for all other areas in the Philippines outside the integrated system served by Meralco. 228

pages

228

Media