Textiles

Title

Textiles

Creator

Margolles, A.

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

242 AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1954 ★ LUZON snmom COMPANY, INC. Manila ★ MAUD aod COMPW of PHILIPPINES Hemp Exporters Steamship Agents 207 Myers Building Port Area, Manila Sporting Goods (Total)............................................. 14,408 7,597 Stationery (Total)..................................................... 219,744 212,769 Tobacco (Total)................................................... 1,432,363 727,251 Churcheria (Total)................................................... 111,098 44,140 Clothing Apparel (Total)........................................ 356,274 501,423 Cosmetics (Total)........................................................ 20,572 51,988 Fabrics (Total)........................................................... 386,228 534,791 Jewelry (Total).............................................................. — 5 Leather (Total)........................................................... 383,570 114,352 Textiles (Total)..................................................... 3,491,125 2,709,313 Twine (Total)....................................................... 74,219 50,364 Toys (Total)......................................................... 20,047 4,199 General Merchandise (Total).......................... 1,534,709 479,687 Non-Commercial Shipments (Total)............. 65,251 71,672 Advertising Materials, Etc. (Total)............... 15,031 7,971 Food Products By C. G. Herdman V ice-President, Marsman fir* Company, Inc. THERE has been very little change in the local market during the past month. The House bill extending the life of the exchange tax was duly passed and has gone to the President for signature. Canned fish in ad dition to canned milk remains exempt from this tax, but wheat flour will be subject to payment of the tax as soon as the new bill is approved by the President. This will have the inevitable result of increasing the price of bread to all consumers by approximately 17%, the amount of the tax, which is greatly lb be regretted. Fair quantities of canned milk arrived during May but less than consumption during the period and supplies are becoming definitely short and prices have been increasing. The Central Bank is aware of the impending shortage and additional exchange allocations were released during the month which have permitted importers to place orders for additional quantities. It is feared, however, that an acute shortage will exist before these new supplies can possibly arrive. Wheat flour arrivals were in excess of the actual con sumption, which is below normal at this time of the year. June arrivals also are expected to be above average but the remaining exchange allotments for the present semester for flour are very small and July arrivals will be far below normal. It is anticipated, however, that sufficient flour is on hand or arriving in June to carry over until August. Canned fish imports during May were in fair quantity. Demand continues to be very light, there being ample supplies available at this time of fresh fish. There is an ample supply of canned meats in the market. Demand has improved somewhat because of the shortage of fresh beef, and in view of the difficulty encountered by importers in securing increased supplies of fresh beef, the Central Bank has announced it will materially increase allocations for canned meats. Fresh fruits and vegetables locally grown are in very good supply in the Manila markets. Ample supplies are still to be found of imported fresh fruits, but practically no imported fresh vegetables are available and imported canned fruits and vegetables are in very short supply. Textiles By A. Margolles Acting General Manager Neuss, Hesslein Co., Inc. REDUCED arrivals, together with the exhaustion of quotas for the first semester of the year, have brought about stronger conditions in the textile market during May. Shortages of some widely consumed standard articles like printed percales, dyed goods, and bleached goods, June, 1954 AMERICAN CHAMBER OF COMMERCE JOURNAL 243 have influenced rising prices in these commodities, and this has brought in its wake a general strengthening in all textile sections. It is the contention of the trade that the existing volume of quotas does not suffice to take care of consumer needs and, consequently, similar situations and conditions are likely to prevail from time to time unless an increase in quotas is given or a re-classification of highly essential articles is made. In the New York market, May was the most active month for a long time. The domestic demand materialized with a sudden spurt of buying, bringing more confidence and changing the complexion of the trade. Large quantities of printcloths and broadcloths figured in substantial deals, and it is estimated that during the first half of May, about 150,000,000 yards of grey goods were purchased not only in ready stocks but also forward against 3rd and 4th quota mills productions. This is the highest turn-over for a short period of time in the primary trade for a long while. Prices, however, have not run away and advances of only about 1/2/ per yard have been experienced. Activity still con tinues and this stronger tendency is likely to continue into the second half of the year. Arrivals from the United States totalled 21,003 pack ages,—7,247 were cotton piece goods; 3,173, rayon piece goods; 2,215, cotton remnants; 1,701, rayon remnants; and 3,726, yams. Arrivals from other sources totalled 2,975 packages, of which 1,600 came from Japan, consisting mostly of cotton and rayon piece goods; 685 from Hongkong; 545 from Europe; and 145 packages of hessian cloth and sugar bags from India. The marked improvement in trading conditions has initiated fresh demand, and forward bookings against the new semester quotas have been negotiated. It is expected that the new quotas will be authorized for release by the Central Bank during the first week of July and no changes in values, method, or procedure is envisaged. Legislation, Executive Orders, and Court Decisions By Ewald E. Selph Ross, Selph, Carrascoso & Janda AMONG the bills passed by both Houses of Congress are the following: S. No. 7 — requiring all instrumentalities of the Government, including Government-controlled corporations, to deduct and with hold from any money payment to private persons or entities any and all taxes the amount of which can be ascertained and payment of which has not been made. S. No. 17 — requiring one month’s notice of termination of em ployment where no definite period is fixed and if no notice is given the employee shall be entitled to one month’s compensation. MOTOR SERVICE CO., 11. AUTOMOTIVE PARTS • ACCESSORIES GARAGE It SHOP EQUIPMENT BATTERIES . TIRES . TUBES 230 13th St., Port Area — Tel. 3-36-21 It Doesn't COST to AtR-AWERTlSE... It PAYS! n/HH The BZMB; The dzh J The Pfafcdn'd announce Wedding JSellfi . . . Add to the glorious thrill of that da}’ of days when everything must be truly magnificent, unusual, distinctive. • OUR PRINTING ART captures lot you that intangible something called "cla'-s," lends a place with us. No Job Too Large—No Order Too Small—A Phone Call Will Bring To You Our Representative. McCullough PRINTING CO. Home of Fine Letterpress Printing Since 1899 (A DIVISION OF PHILIPPINE EDUCATION CO.) 1104 Castillejos, Manila Telephone 3-22-51

pages

242-243

Media