Electric power production

Title

Creator

Cotton, J. F.

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 Based on incomplete reports to the Public Service Commission, all other electric plants in the Philippines sell ing power to the public produced about 108,000,000 kwh’s in the year 1.953. This is an increase of about 18,000,000 kwh’s, or 20%, which is about the same rate of increase recorded in 1952 over 1951. There are about 170 companies selling electricity in the Philippines. The approximate output of 6 of the larger provincial plants is shown below. The output of these 6 companies represents nearly 1/2 of the Philippine output, other than the Meralco system. 1953 Output 1952 Output Increase Cebu...................... . . . 14,650,000 KWH 12,500;000 KWH 17% Baguio.................. 10,450,000 ” 5,600,000 ” 87% Iloilo...................... 10,350,000 ” 9,300,000 ” 11% Davao................... 7,000,000 ” 6,000,000 ” 17% Bacolod................. 5,400,000 ” 5,000,000 ” 8% Zamboanga......... 2,000,000 ” 1,700,000 ” 17% Total............ . . , 49,850,000 KWH 40,100,000 KWH 24% The increase in these cities and elsewhere in the prov inces has been at a higher percentage rate than the Manila Electric Company system increase. However, total pro vincial output was only 17% of Meralco production in 1953. The following compares the Manila system output with all of the provincial systems’ output. Manila Electric Provincial* by Juan Nakpil to Manuel 1950 .............................. 458,576,000 KWH 63,000,000 KWH 1951 ............................... 497,221,000 ” 75,000,000 ” 1952 .............................. 557,458,000 ” 90,000,000 ” 1953 .............................. 628,357,000 ” 108,000,000 ” Tc‘r ATS ““ b’ T-“°" ” SiTitetf '©rb- R”"lb M Vd--d' M“db“ REAL ESTATE SALES, 1954 January. Que ton Manila City Pasay Suburban City Towns Total P4,757,076Pl,306,427 P505.410 Pl.676,512 P8,245,425 Real Estate By Antonio Varias Vice-President, C. M. Hoskins Co., Inc., Realtors February........ 2,444,703 2,295,413 March............. 2,811,805 2,501,229 April............... 4,692,440 1,381,842 May................ 2,412,941 1,587,327 330,245 1,859,162 6,929,523 162,167 2,239,095 7,714,296 169,520 976,526 7,170,328 246,905 1,644,658 5,891,831 REAL ESTATE sales registered in the Greater Manila area during the month of May, 1954, num bered 621, with a total value of P5,891,831, as com pared with 551, with a total value of P7,170,328, regis tered during the preceding month of April. Of the May sales, 184, with a total value of P2,412,941, represented deals within Manila proper, and 437, with a total value of P3,478,890, were transactions regis tered in Quezon City, Pasay City, and in the suburban towns of Caloocan, Makati, Malabon-Navotas, Paranaque, Mandaluyong, and San Juan. A few of the bigger sales registered during the month were: CITV OF MANILA Binondo Plaza Cervantes corner Juan Luna and Dasmarinas Sts. A 5-story concrete edifice known as “MRS Building” on a lot of 665.3 sq.m, sold by Carmen Soriano Vda. de Angoso to J. M. Tuason & Co., Inc. for Pl,800,000. REAL ESTATE MORTGAGES, 1954 January......... P6,243,766 Pl,308,920 P517,867P3,629,703Pl 1,700,256 February... 2,980,579 1,891,440 600,810 2,115,852 March............. 4,400,965 2,132,170 417,390 1,773,031 April................ 5,606,798 1,392,580 267,850 1,503,990 May................ 4,148,835 1,991,400 334,300 1,710,865 7,588,816 8,723,556 7,771,218 8,185,400 A. Mabini St. A property with a lot of 329.1 sq.m, sold by Natividad Katigbak Vda. de Castillo to Pedro Alibudbud fo P40.900. M. H. del Pilar St. A parcel of 637.7 sq.m, sold by La Santa Sede to Apolinario S. de Guzman for P48.639. Otis St. A tract of 9,015 sq.m, sold by Chua Limco to the Domestic Invest ments Corporation for P135.234. Sampaloc Quezon Boulevard. A parcel of 1,388.5 sq.m, adjacent to the Far Eastern University, sold by the Manila Electric Company to the Far Eastern University for P500,000. by Co Tt Building Construction By Juan J. Carlos President, United Construction Co., Inc. DURING the month of April, the Office of the City Engineer approved building permits for construction work amounting to P2,628,820. For the same period in 1953, the volume of work authorized amounted to ?4,123,120, in comparison with P3,502,260 in 1952 and P4,857,025 in 1951. Some of the big projects that were started during the month under review were: A 2-story semi-concrete office building for Q. Patemo to be erected on Magdalena Street, costing P95.000. A 1-story re-enforced concrete building for the International To bacco Co. Inc., at 402-12 Sevilla Street, costing P120.000. For Bartolome San Diego, a 2-story apartment on Vergara Street, estimated to cost P70.000. On Alvarado Street, a 3-story office and store building for Cheng Ben Kun, estimated at P50.000. For Jose Espiritu, a 2-story apartment on San Andres Street, cost ing P 50,000. On Rizal Avenue, for Manuel Arce, a 2-story commercial building to cost P55.000. 229

pages

228-229

Media