The American Chamber of Commerce Journal Vol. 3, No.10 (October 1923)

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Part of The American Chamber of Commerce Journal

Title: The American Chamber of Commerce Journal Vol. 3, No.10 (October 1923)
Issue Date: Vol. 3, No.10 (October 1923)
Year: 1923
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extracted text: The Romance of Rubber Governor-General Wood Takes Up Income Tax Fight Chamber Returns Unspent Japanese Relief Fund Contributions Broadway Stars to Take Part in Play for American Relief Fund England Rejects C. O. D. System Chamber Lecture Course Starts Editorials Review of Business Conditions for September Shipping Review Statistical Review Other Articles of Interest to Business Men Royal Plain Soda served at the A me rican Chamber of Commerce Fairbanks-Morse ALTERNATING "If" CURRENT XI Ball -Bearing Motors BALL-BEARING MOTORS CUT DOWN COSTS: In a 40 H. P. 1.200 r. p. m. motor, the Bearing Friction was 520 watts less for a Type “H” ball bearing machine than for the same motor with ring oiling sleeve bearings. The extra friction costs F 172.00 per year, at twelve centavos per kilowatt hour. FAIRBANKS-MORSE ELECTRICAL EQUIPMENT 40° RATING L. M. HAUSMAN ®, CO. IMPORTERS AND DEALERS Cable Address: MICHELMAN, Manila MACHINERY AND ALLIED PRODUCTS MANILA, P. I. 2 <J7Vluelle del Banco Nacional P. O. Box 171”; Phone 106■ October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 1 Professional Cards Social Correspondence Papers BEFORE YOUR PATRON’S EYE No factor of your business equipment is so constantly before the eye of the buying public as your letter head and your business card. Permit us to show you a few samples of Letter Heads we have design ed and printed or steel die stamped. The principal cost of a steel die stamped or copper plate engraved letter head is the first cost of cutting the steel die or copper plate. Draw up a rough draft embodying your idea of a letter head and we will make a finished sketch and quote you a price. We specialize in the making of engraved business cards. STATIONERY CORNER H. E. HEACOCK Co. TAKE AN EXPERT’S TIP! However good an oil is, it should be renewed occasionally. Oil, like everything else, wears out. It becomes foul with carbon and thinned with gasoline which creeps past the pis tons, until it loses its lubricating value and must be replaced with new oil. When replacing the old oil with new, get the correct grade for your particular car as shown on the New Socony Lubrica tion Chart which you will find at your dealer's. LIGHT MEDIUM - MEDIUM - HEAVY - EXTRA HEAVY DON’T GAMBLE-GET SOCONY! STANDARD OIL COMPANY OF NEW YORK 2 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 ASIA BANKING CORPORATION AN AMERICAN INSTITUTION CAPITAL $4,000,000 1IEA1> OEEK'E: NEW YORK CITY DR. C. A. HOLDER. President CHARLES H. SABIN, Chairman T. FRED ASPDEN, Vice-President E. B. MACKENZIE, Secretary G. F. PARTON, Asst. Secretary I. V. SCOTT, Vice-President A. N. GENTES, Treasurer ALLAN B. COOK. Asst. Secretary MANILA BRANCH: 52 Escolta, Telephone No. 2350 N. E. MULLEN, Manager Transacts all description of Banking Business with service all over the World. Supervised by the State of New York and Federal Reserve Board. HEAD OFFICE AND BRANCHES: Head Office, .35 Broadway, New York r.-.ynix HANKOW HONGKONG MANILA PEKING SAN I'K ANCISCO SHANGHAI TIENTSIN YOKOHAMA MRE YOU BUILDING? •‘LIGHTHOUSE” QUALITY GLASS Then let us advise you that our LIGHT HOUSE QUALITY PLATE GLASS will: 1- Improve the appearance and value of your building. 2- o4fford accurate vision in any and all directions. 3- Seldom require replacing on account, of breakage. 4- Prove a great protection to human life. 5- Pay for itself over and over again in attractiveness and comfort. SEE US FOR SPECIFICATIONS, PRICES, etc., We cut and set glass under our own guarantee SQUIRES-BINGHAM CO. Sportsmen’s Headquarters. 15 Plaza Goiti Phone 300 YOUR LOGGING PROBLEM can be solved readily by some type of WASHINGTON LOGGING ENGINE The Washington Simplex Yarder shown above leads all Yarders in ease of operation and low cost of upkeep. Washington Iron Works Seattle, U. S. A. WA S HI N G TO N ENGINES____ We cXmerican Chamber of Commerce Journal PUBLISHED MONTHLY BY THE AMERICAN CHAMBER OF COMMERCE OF THE PHILIPPINE ISLANDS (Member, Chamber of Commerce of the United States.) ENTERED AS SECOND CLASS MATTER MAY 25. 1921. AT THE POST OFFICE AT MANILA, P. I. LOCAL SUBSCRIPTION—P6.00 PER YEAR. FOREIGN SUBSCRIPTION $3.50, U. S. CURRENCY, PER YEAR. SINGLE COPIES—FIFTY CENTAVOS NORBERT LYONS. Editor H. L. KRIEDT, Advertising Manager Walter Robb, Secretary A. G. Henderson, Chicago Representative A. Schipull. Assistant Secretary E. E. Selph, General Counsel C. M. Cotterman, President (absent) K. E. Elser. Vice-President S. F. Caches, Treasurer BOARD OF DIRECTORS II. L. Heath B. A. Green C. W. Roscnstock Julius Reis (absent) S. Feldstein John ,1. Russell EXECUTIVE: C. M. Cotterman, E. E. Elser S. F. Caches Chairman PUBLICITY: C. M. Cotterman,Chairman (II. I.. Ileath. acting! E. E. Elser H. B. Pond FINANCE AND AUDITING: C. W. Rosenstock Ii. A. Green HOUSE: Vacant STATISTICS AND INFORMATION: B. A. Green, Chairman J. C. Patty ALTERNATE DIRECTORS: II. It. Pond (absent) J. W. Hausserinann P. A. Meyer COMMITTEES INSURANCE AND FIRE PROTECTION: MANUFACTURING AND LOCAL INDUSTRIES: F. N. Berry, Chairman F. II. Hale Leo. K. Cotterman BANKING AND CURRENCY: Carlos Young W. ]>. Whittemore W. T. Nolting RECEPTION AND ENTERTAINMENT: C. W. Rosenstock, Chairman Ray W. Berdeau Col. Gordon Johnston Walter Robb LEGISLATIVE: C. M. Cotterman, Chairman F. C. Fisher Frank B. Ingersoll James Ross Thomas Carey Welch FOREIGN TRADE: J. S. Reis, Chairman M. M. Salecby SPEAKERS: Walter Robb MARITIME AND HARBOR: R. M. McCrory, Chairman J, F. Marias W. J. Shaw Lester E. Hamilton AFFILIATE AND SUBORDINATE ORGANI ZATIONS : C. W. Rosenstock Chairman R. M. McCrory J. J. Russell RELIEF; George Seaver, Chairman W. J. Odom A. Schipull, Agent MANILA P. I.. CONTENTS FOR OCTOBER, 1923 VOLUME 3 No. 10 Page The Romance of Rubber (By C. P. Moody)................. 5 New City Directory Out.................................................... G Governor General Leonard Wood Takes Up Income Tax Fight ...................................... 7 Chamber Returns Unspent Portions of Japanese Relief Fund ............................................................................. 8 Obituary (Col. Henry B. McCoy)..................................... 9 Broadway Star to Take Part in Play for American Re• lief Fund . . ................................................................. 9 Editorials: The Japanese Catastrophe ........................................ 10 An Opportunity at Home.......................................... 10 How the British Do It .............................................. 10 Another Misrepresentation ........................................ 11 The Bank Centrals ...................................................... 11 The Singapore Naval Base........................................ 11 England Rejects C. 0. D. System............................. 11 Review of Business Conditions for September: Exchange (By IV. D. Whittemore)........................... 12 Hemp (By J. C. Patty)................................................ 12 Sugar (By Georye H. Fairchild)............................. 12 Copra (By E. A. Seidenspinner)............................. 13 Tobacco (By au Active Member)............................. 11 Page Lumber (By Arthur F. Fischer)............................. 14 Rice (By Percy A. Hill)............................................ Real Estate (By P. D. Carman)............................. 16 Iron and Steel (By Chas. A. Clark)....................... 16 Schedule of Meetings .................................... ................... New Members ..................................................................... With the Board of Directors............................................ 18 Chamber Lecture Course Starts........................................ 20 Chamber Notes ................................................................... 21 Heme Service ............................................................... 22 Luncheon Meetings ........................................................... 22 Shipping Notes: Shipping Review (By J. T. Kinney)..................... 24 Big Ship Competition on the Pacific........................ 24 Statistical Review:' Market Quotations By Months.................................. 26 Government Financial Report (By Ben F. Wright) 26 Principal Exports ....................................................... 27 Principal Imports ........................................................ 27 Port Statistics ............................................................. 27 Carrying Trade ........................................................... 27 Foreign Trade by Countries............. 27 The American Chamber of Commerce is ready and willing at all times to furnish detailed Information to any American Manufacturer, Importer. Exporter or other Americans who are Interested in Philippine matters. Address all communications and requests for such information to the Secretary of the Chamber, No. 14 Calle Pinpin, Manila, P. I. The American Chamber of Commerce of the Philippines Is a member of the UNITED STATES CHAMBER OF COMMERCE, and Is the largest and most adequately financed American Chamber of Commerce outside the continental boundaries of the United States. The organization has Twelve Hundred mem bers, all Americans, scattered over the Philippine Archipelago from Tawi Tawi to the Bataucs. The organization of branches in all the American communities of the Asiatic Coast is being stimulated. 1JF The AMERICAN CHAMBER OF COMMERCE OF THE PHILIPPINE ISLANDS should not be confused with other organizations bearing similar names such as the Chamber of Commerce of the Philippines, the Philippine Chamber of Commerce, the Pbilippine-Araerican Chamber of Commerce and the Manila Chamber of Commerce. 4 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 The Romance of Rubber By C. P. Moody If the story of Arizona cotton is a dra matic tale of modern industry and enter prise, the story of rubber is no less so. There is a real romance in the story of rubber—a billion dollar industry less than a quarter century old. And written across its pages is the story of Charles Goodyear, one of the real bene factors of the human race. Rubber, before the year 1839, had one fault that absolutely blocked its commer cial use. In hot weather it would melt and run, and in cold weather it became brittle and cracked. If this difficulty could be conquered the greatest possibilities were ahead. So men struggled and experimented and labored—and gave up. Fortunes were lest in rubber. At times men thought they had solved the mystery, only to find that it still eluded them. Charles Goodyear was a New England Yankee. His father before him was an inventor. Goodyear settled in the city of Philadelphia and founded the first retail hardware store in the United States. It was successful and Goodyear became moderately wealthy. But the virus of the inventor was in his blood. Some one showed Goodyear a bottle made cf “India rubber” and the amaz ing material seized hold upon his imagin ation. Surely, he believed, God did not put such a strange substance into the world without intending that man should use it, and to the task he devoted his life. In his search for the secret of rubber Goodyear lost fortune and friends. He suffered the most abject poverty and was reduced to beggary. He was ridiculed and thrown into prison for debt. But he was the stuff of which genius is made. Charles Goodyear did not give up. And on the day that he solved the secret, he fell on his knees and thanked God for making him the agent for giving this great blessing to man. American capitalists arc becoming det ply interested in the cultivation cf rubber in. the Philippines. Had the systematic plantation of rubber in Malaya not been so successful, the automobile industry might have suf fered a severe setback at the time of its greatest development, in the past few years. The following table shows the pro gress of rubber cultivation and the range of prices for the crude product: ltn.1 of 1 per Year Pl.inlntioii Binzil World Pound Sulphur plus heat was the solution. Heat applied to a mixture of sulphur and rubber brings about the change we call vulcaniza tion. Just what that change is, scientists even yet are not sure, but after vulcani zation rubber remains constant despite heat cr cold. Biographers disagree as to how Charles Goodyear made his momentous discovery. One story runs that his wife, who had for yiars faced poverty and suffering loy ally, finally lost hope and insisted that he al andon his experiments, find a job and settle down to providing for his family. After this Goodyear kept up his experi ments in secret. One day while trying a mixture of sulphur and rubber, he heard Jiis wife’s footsteps outside the door. To avoid her reproaches he hurriedly dumped the mixture into a stove. Later in the day, to his surprise, he found that the mass had not melted, but only charred. In the stove’s heat it had vulcanized. His search was ended. Without the discovery of Charles Good year the automobile as we know it today would not have been possible. Nothing has ever been discovered which can effectively replace the pneumatic rub ber tire. Without rubber, it would have been impossible to build a car, geared even to the speeds permitted by modern city ordinances on the busiest highways. Shoe the car with wood or iron or steel and its delicate mechanism, now protected by rub ber tires, would be quickly racked to pieces, its passengers bounced and jolted until motoring would become a punishment rather than pleasure. It has been said that a rubber tire might equally well be called a fabric tire, because fabric gives it strength and endurance. ’ But rubber is everything in the inner tube. And it is essential in the casing. In tread and sidewall rubber protects the fabric from weather and the wear and tear of travel. It gives added resiliency in addition to that furnished by the air filled inner tube. It gives the necessary traction in contact with the road. Furthermore each ply and strand of fab ric is impregnated and coated with rub ber, so that cord does not saw upon cord as the tire flexes and bends in service. It is rubber which shields and protects, so that the thousands of miles of in-built service in the tire of today may be cer tainly and securely delivered to the mil lions of motorists. This brings us down to the question “what is rubber?” 6 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 Ask the rubber chemist and he will tell you that it is colloid and draw up a com plicated diagram using half the letters of the alphabet. Before he’s half through, the lay mind gives one last “blub” and sinks for the third time. Non-technically, rubber is a resinous gum, extracted from the sap of certain species of trees and shrubs. The best comes from the tree Hevea Braziliensis. The trees are tapped, and the sap, or latex as it is called, is collected in a cup. Mod ern practice is to take the collected latex to a factory, where the rubber is separated out by a process of coagulation. In the primitive method the latex was permitted to flow out upon the ground, where the rubber coagulated through the terrific heat of the tropic sun, or, =n Brazil, a stick was dipped in the latex, and then the gum slowly dried in the smoke and heat above an open fire. The process was repeated until a large ball of the gum had collected upon the end of the stick. Until a few years ago, actually the year 1913, Brazil was the chief source of sup ply of crude rubber. “Up River Para” as it was known in the rubber market was the finest rubber procurable. The rubber trees grew wild in the upper regions of the Amazon. Rubber hunters, hardy men of an adventurous type, would penetrate the jungle with Indian guides, going hundreds and thousands of miles up the headwaters of the Amazon, and its tributaries, braving the dangers of the jungle, the animals, the insect pests, the savage native tribes, and most dan gerous of all, the jungle fevers and mala dies. When an untapped rubber forest was located, native labor was recruited, not always by legitimate means, the rub ber smoked and dried, freighted by canoe and lighter down to the sea, and then shipped to the markets of the world. Rubber was found in smaller quantities and of poor quality in other parts of trop ical South America. Another variety, and a poor one, is produced by a shrub :n Mexico. Species of rubber trees in various parts of Africa especially the Congo, yielded their tribute to the needs of the growing industry. And in the Far East native trees produced a portion of the supply, while British and Dutch planters experi mented with the cultivation of rubber. When the automobile industry hit its period of great expansion the Far East came into its own as a producer of rubber. Brazil could not furnish enough wild rubber to supply the demands of the grow ing tire industry. Simultaneously the experimenters in rub ber cultivation in the Far East solved their tapping problems, and the first extensive plantations became producers. With the tremendous ‘profits in growing rubber at the existing high prices there was a rush of capital into the industry. Jungles were cleared by the thousands of acres. And as these new plantations came into bearing, prices reacted back to normal, and from being the deciding factor in the rub ber market, Brazil became almost neglig ible. Today plantation rubber, the equal and in some ways superior to the finest of the wild rubbers, is over 90 per cent of the world’s supply. There is an interesting story behind the supplanting of Brazil by the Far East as the rubber producing center of the world. Though its great development has occurred in the last half dozen years, two score years were spent in experiment, a strugTapplng mature Rubber trees in Sumatra. gle against difficulties in the face of doubt and ridicule. Just half a century ago, in 1873, an Englishman, H. A. Wickham, discovered the Hevea tree in Brazil between the Tapajos and Maderia Rivers. Impressed by the possibilities of rubber cultivation he was granted a commission by the India Office to introduce the cultivation of rub ber into India. Wickham was regarded as a visionary, but he finally managed to ship a boat load of seed away from Para to the Royal Gar dens at Kew. In 1876 there were 70,000 seedlings growing under glass at the Brit ish botanical g'ardens. Part of these plants were shipped to Ceylon, and part of Singapore. Part of the plants died in shipping, but the few that remained grew and eventually flow ered. Their seeds were in turn planted. H. H. Ridley, director of the Botanic gar den at the Straits Settlements, worked ardently at the task. Into the pockets of every visiting planter he stuffed seeds of the Hevea tree, and scattered from one end of Malaya to the other are small clumps of rubber trees, tribute to his work. As the demand for rubber grew, British and Dutch planters took up the work, and when the big demand came for rubber, the Far East was ready to meet the demand, One of the greatest difficulties which confronted the plantation rubber grower was the tapping problem, when and how to tap the trees. At first they were afraid to tap the trees more than a few times a year. Today they tap the trees every day in the year, except when they shed their leaves during February and March, with out injury to the trees. Experiment finally solved the method of tapping to secure the utmost yield. It was found that the latex was carried in veins running spirally around the tree, just under the outer bark. The “V” method of tapping, and the "herringbone” method were developed based on this knowledge. The “V” method is self-explanatory. The three is cut with a shallow “V” in cision through the bark, the latex col lected in a cup at the point of the “V.” In the herringbone method, the cut is made at an angle with the trunk of the tree, so that the incision cuts the latex-carrying wood at right-angles to the spiralling veins. This cut opens up the maximum number of veins for an incision of any certain length. Each day the tree is re-tapped by shav ing a thin slice from the bottom of the cut made the day before, gradually work ing down the trunk of the tree. The tap ping incisions are in length about onequarter of the circumference of the tree trunk. When one side of the tree has been tapped, the workers progress to the opposite side, so that the tapping may go on from day to day. As one side is be ing tapped, the wounds upon the other side heal and at no time is the bark of the tree completely girdled by the incisions. Each rubber tree produces enough rub ber each day to make a lump about the size of a golf ball. When one considers the 342,000 tons of plantation rubber which it is estimated will be consumed during the current year, it is not surprising to learn that in the Far East, over 3,300,000 acres of former jungle are now under cultivation that Mr. American Business Man may have his mo tor car shod with pneumatic rubber tires. NEW CITY DIRECTORY OUT Volume 29, for 1923-1924, 9f Rosenstock’s Manila City Directory has just been published and marks the biggest step for ward yet taken by this well-known and authoritative book in many years. The lists of firms and names have been thor oughly revised and are strictly up to date. Great care seems to have been taken to verify spellings and addresses. By the use of thinner paper it has been possible to considerably reduce the bulkiness of the volume, which is an almost indispensable reference work in all local business houses and in many offices abroad. Besides alphabetical and classified lists of firms, the book contains a directory of residents; a directory of United States, insular provincial and municipal offices; a directory of religious institutions, maso nic bodies, public and private schools, clubs, etc.; and other miscellaneous information regarding the Philippines and the city ,of Manila. The Directory is published by Yangco, Rosenstock and Company, 627 Rizal Ave., Manila, and sells for f*10 if ordered before publication and f*T2 if ordered after publi cation. The publishers plan to issue the volume about the middle of each year here after. October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 7 Governor General Leonard Wood Takes Up Income Tax Fight Governor General Leonard Wood, acting upon the request of the American Chamber of Commerce of the Philippine Islands, has taken up the question of federal in come tax enforcement in the Philippines and has joined the ranks of those Amer icans in the Islands who are making every possible effort to prevent such discrimina tive and ruinous action on the part of the Federal Government. During the month of September the Chamber has devoted most of its energies to the campaign against federal income tax enforcement and one regular meeting of Active and Associate members, on Wednesday. September 12, was devoted to a consideration of the question, several resolutions bearing on the matter being adopted for consideration of the Boa>d of Directors. General Word’s Cable On September 7, General Wood cabled the Secretary of War as follows: Please transmit the following to the President: -Press reports and private advices indicate that the Treasury Department is preparing to require American citizens resident in the Philippines to pay federal income taxes under the Act of 1918. I am forwarding by the next mail an approved petition of the Amer ican Chamber of Commerce requesting the Pres ident to include in his message to Congress a recommendation to mako Section 2G2 of the Revenue Act of 1921 retroactive to include 1918. Urge the Treasury Department to defer its contemplated action pending receipt of tny report and recommendation. The collection of back income taxes for these years would prove ruinous to many American firms and seriously cripple others. Filipino and foreign residents in the Philippines, busi ness competitors of Amercans, are exempt from the federal lax, paying only the local tax, which is very much lower. The resulting dis crimination against Americans on the outpost of foreign commerce is grossly unjust. No attempts have heretofore been made to enforce the federal tax, thus giving counte nance to the belief of local Americans that they were not subject to this tax. British subjects abroad are never subjected to the Brit ish tax on income derived from sources out side of Great Britain, and fcy the Finance Act of 1920 England has authorized a refund to overseas British of taxes heretofore levied on income derived solely from British sources. This relief on the part of Congress would greatlv facilitate the general efforts to build up our foreign trade, which is now seriously interfered with bv subjecting Americans here and elsewhere abroad to the handicap of heavier income taxes than those paid by their foreign competitors. Governor Wood’s Letter This cable was supplemented by the fol lowing letter to the Secretary of War: Manila, September 8, 1928. Mv dear Mr. Secretary : „.... J am inclosing herewith copy of a petit! on on behalf of the American Chamber of Com merce. dated September 3. 1923 on the subip... of income taxes under the Federal Reve nue Act of 1918, with an additional letter on the same subject dated September 5, 1923, to which is attached a memorandum from Daniel R Williams, dated March 7, 1921. - • I have this date cabled a summary of this matter, and attach a copy of my cable for your C°Thenf^Hng here is very intense on this subject and takes the point of view that the procedure to enforce the collection of the back income taxes as fully explained in the inclosures mentioned above, would deal a c^ing Mow to the Americans in business in the Philippine Islands. Hud the Treasury Department pro ceeded with the collection of this tax at the time it is probable that it could have been uaid' without proving an unbearable burden for the simple reason that those were profit able years. Since then, however, deflation and the general condition of business have wiped out the profits of the former years, and I am reliably informed from many sources that in general American merchants here would be unable to meet this tax. I trust that the President will give this matter favorable consideration, particularly from the point of view of the benefits that would be derived from liberal treatA Concrete Illustration There is a French concern in Ma nila handling American automobiles, tractors, etc. In 1919 it is reported to have earned a net profit of 1*1,200,000, equivalent to $600,000. Upon this it would pay to the Phil ippine government an income tax of something less than $77,735. It paid no taxes upon such income to the French government. There is also in Manila an American house en gaged in handling automobiles, trac tors, etc., in competition with French concern. Upon a like volume of busi ness the American house would be compelled, under existing law, to pay an income tax of $439,190—besides the exchange for converting such tax into U. S. currency. Eliminating tho matter of exchange,the difference against the American house amounts to $361,455. The same situation, and the same handicap, apply to the local business of every American in the Philippines proportionate to his income.—From a memorandum prepared by Judge D. R. Williams, formerly Special Counsel for the American Chamber of Commerce of the Philippine Is lands. ment of our citizens engaged in commerce abroad. They have always felt that the gov ernments of other nationals treat them with far more consideration that the United States, and that their interests are matters of real concern to their home governments, nnd their protection and extension carefully looked after as a means of extension of commerce. Regardless of the correctness of these conclusions, the fact remains that liberal treatment and an active interest and concern for their welfare ere most desirable as u matter of policy if our commerce here iB to flourish. I am much impressed with the nction of Great Britain in regard to her citizens abroad, and feel that her long experience and greet capacity for building up foreign trade are well worthy of consideration. 1 feel very strongly that the least the home government ran do is to give a considerate hearing to the American business men of this community in order that all the fuels niny be before you before definite action is taken. Should the Treasury Department inaugurate its action along these lines, it would make the situation much more difficult should the Pres ident be influenced by the arguments presented in the inclosed papers. Sincerely yours, (Signed) LEONARD WOOD. • (Governor-Gcncrul) Resolutions Adopted The meeting of September 12 adopted the following resolution, in view of the Governor General’s unequivocal support of the Chamber’s stand: ' Resolved that this meeting of Active and Associate members of the American Chamber of Commerce extend, as is hereby extended, a vote of thanks to His Excellency, the Gov ernor General of the Philippine Islands, for his support and cooperation in the important matter of relief of Americans from income taxes under the Act' of 1918. . This resolution was unanimously ap proved by the Board at its meeting qf Sep tember 18 and forwarded to the Governor General, who, under date of September 26, wrote to the Secretary as follows: I have the honor to acknowledge receipt of your letter of September 24 quoting a resolu tion adopted by the Active and Associate memmers of the Chamber of Commerce on Wcdnes‘toy. September J2, ,*,“l thc W'c tors of Tuesd«;,ras:r>(embeietaeXt Kubse('u‘!"t Please transmit to the members of the ( number nn appropriate expression of mv ap preciation of this resolution, and also inform them that the subject-matter of their meftio* ninduin will bo given most carefill considerstion with n view to securing remedial action. Counsel Not Employed Active Member George H. Fairchild at the September 12 .meeting introduced a re solution authorizing the Directors to com municate with Judge Daniel R. Williams by cable with a view to having him take up the income tax matter in Washington until a final decision is reached. The re solution was unanimously approved. The Board, however, decided that the employ ment of counsel in connection with this question was not advisable at this time. Senator Fairchild also fathered a resolution “that the Directors appoint a committee to attend to the preparation of memoranda to be furnished Congressmen and Senators, social and business friends of members, and others, containing information on the more vital questions affecting Americans in the Philippines.’’ This resolution was also unanimously adopted and the Board of Directors named the Secretary of the Chamber a committee of one to prepare the information sought. Another resolu tion of a similar tenor, introduced bv ex Justice F. C. Fisher, was also passed un animously. It read: Resolved that a synopsis of the doccini^nts pertaining to relief from income i-xcs --dothe Act of 1918 be niinieograi'h"d or printed nnd sent to clmmbors of comme-ce 'n the United Stated, inclnding the Chamber of Com merce of the United States, also to American chambers of commerce outside the United States, with n request, for cooperation in the effort to have these taxes retroactively ap pealed. This resolution was unanimously ap proved by the Directors. The Secretary has sent mimeograDh copies of a synopsis of these documents to other American chambers of commerce outside the United States and to the United States Chamber of Commerce. How Law Would Work Some idea of how the federal income tax affects Americans in the Philippines may be gained from the following table pre pared by Judge D. R. Williams when he represented the Chamber at Washington in the income tax matter: Table Showing Respective Taxes for 1.920 1‘nronie income>"tux United Stut Difference against $10,000 $235 $590 $355 25,000 910 2,880 1,970 50.000 2,535 9,190 6,655 100.000 6,985 31,190 24,205 200,000 18,235 31,735 93,190 74,955 300,000 161.190 129,455 400,000 46,735 232,190 185,455 500,000 60.735 303,190 242,455 600,000 77,735 439,190 361,455 The Philippine tax for 1918-1919 was less than indicated above, the normal rate for those years being 2%, whereas the above table is based on the 1920 rate, 3%. The surtax for 1916-1919 is also less than for 1920. The United States tax, however, would be greater than indicated above, the normal rate for that year being 12% in stead of the 8% used in calculating the above table. THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 Chamber Returns Unspent Portions of Japanese Relief Contributions While 1*26,863.21 was collected by this Chamber for relief purposes within a few days after the news of the great Japanese catastrophe of September 1 reached Manila, only 1*8-574.79 had been spent when the Japanese government announced that it was not in need of further relief funds, so that the Board of Directors decided to return to the donors their pro-rata share of the unspent funds, the unspent percentage amounting to a little over 68. The relief provided by the Chamber consisted of 1,000 bags of rice and a half gross of clinical thermometers, sent on the first transport that left Manila for Japan following the catastrophe, in addition to cloth sent forward by various embroidery companies. A complete list of contributors to t,he Chamber’s relief fund, together- with the amount to be returned to each contributor, follows: Itemized list of total collections for Japanese relief and amounts to be returned to Donors. Con- To be Name trlbuted Returned Myers, J. L......................................................... 1*40.00 1*27.24 Atlantic, Gulf & Pacific Co.............................. 1,000.00 680.79 N. & B. Stables................................................ 100.00 68.08 Saleeby, Dr. N. M............................................. 50.00 34.04 Ingersoll. F. B. .............................................. 20.00 13.62 Koster Co., The .............................................. 100.00 68.08 Heath, H. L....................................................... 250.00 170.20 Erlanger & Galinger, Inc................... 500.00 340.40 Dewing, W. W.................................................. 10.00 6.81 Robb, W........................................................ 50.00 34.04 McKee, Svrena .............................................. 50.00 34.04 Beam. A. W. .................................................... 250.00 170.20 Haussermann, J. W......................................... 250.00 170.20 Larkin, W. W.................................................. 100.00 68.08 Benguet, Consolidated Mining Co.................. 1,000.00 680.79 Smolt, Mrs. M. E............................................. 10.00 6.81 Gaches. S.......................................................... 100.00 68.08 Heacock, H. E. Co........................................... 500.00 340.40 Alkan, C. Inc.................................................... 250.00 170.20 Denniston, Inc................................................... 250.00 170.20 Berger, S. M. & Co.......................................... 25.00 17.02 Feldstein, S....................................................... 500.00 340.40 Heilbronn, J. P. & Co...................................... 750.00 510.60 Silverio. Natividad de .................................. 50.00 -34.04 Fisher, Dewitt, Perkins & Brady ............... 500.00 340.40 Cadwallader-Gibscn Lumber Co........... 250.00 170.20 Hanson & Orth ............................................ 100.00 68.08 Russell, John G................................................ 10.00 6.81 Russell, J. J.............................. 100.00 68.08 Philippine Refining Corporation ................. 500.00 340.40 Squires & Bingham ...................................... 100.00 68.08 Henry, A. H....................................................... 20.00 13.62 P. C. C. Farola Employees ......................... 50.00 34.04 Wm. McKinley Lodge No. 1, K. P................. 50.00 34.04 Gordon & Haley .............................................. 100.00 68.08 Viegelmann. Inc............................................... 100.00 68.08 El Dorado Oil Works .................................... 200.00 136.16 Lambert, Mr. and Mrs................... 20.00 13.62 Rosenquist, A.................................................... 2.50 1.70 Admiral Oriental Line .................................. 250.00 170.20 Sucgang, Gabriel ............................................ 2.00 1.36 Nathorst, C. E......................................... 10.00 6.81 Piontkowski, E. S. von .................................. 200.00 136.16 Hix, Mrs. A. Cousins .................................... 20.00 13.62 Haynor, H. 0................................................... 50.00 34.04 Wheat. J............................................................. 10.00 6.81 Winship, S. D................................................... 20.00 13.62 Manila Trading & Supply Co........................ 500.00 340.40 Luzon Stevedoring Co. Inc. ........................... 500.00 340.40 Manila Terminal Co., Inc............................... 500.00 340.40 Lawrence, J. G................................................. 500.00 340.40 Ammen, A. -L................................................... 50.00 34.04 Employees of Philippine Refining Corpora tion ............................................................... 150.00 102.12 Carson, H........................................... 100.00 68.08 Butler, F. W..................................................... 10.00 6.81 Hale Shoe Co. ................................................ 100.00 68.08 Rohde. Wm. J................................................... 50.00 34.04 Gillespie, A. T.................................................. 25.00 17.02 Artiaga, Santiago .......................................... 5.00 3.40 Fairchild, Geo. H.............................................. 250.00 170.20 Frank & Co....................................................... 50.00 34.04, Macleod & Co.................................................... 1,000.00 680.72 Northcott, J....................................................... 100.00 68.08 Cotterman, Mrs. Leo K.................................... £5.00 17.02 Cotterman, C. M............... 5Q.0.0 34.04 Cotterman, Leo K............................................ 25.00 17.08 Philippine Acetylene Co.................................. 250.00 170.20 Dunbar, J. J...................................................... 10.00 6.81 Coby, A. L....................................... 10.00 6.81 Rydell, Capt. C................................................. 10.00 6.81 Sawyer, W. J................................................... 10.00 6.81 Apache Tribe No. 1, O. R. M....................... 50.00 34.04 Smith, John (?) ............................................ 10.00 6.81 Camera Supply Co.......................................... 250.00 170.20 Harris, W. W................................................... 100.00 68.08 Hanson, Dr.' C. O.................. 100.00 68.08 Krauseman. J. N.............................................. 25.00 17.02 Cosmos Lodge No. 8. F. & A. M.................... 150.00 102.12 Hoffman, E. G................................ 20.00 13.62 Kenny, Mrs. F. W............................................. 25.00 17-02 San Juan Heights Co., Inc.............................. 400.00 272.32 Bardwill Brothers ........................................ 25.00 17.02 Morgan, Florence C.................... 50.00 34.04 Malcolm, G. A................................................... 100.00 68.08 Doherty. M. E................................................... 10.00 6.81 Hillberg, A. G................................................... 50.00 34.04 Norton & Harrison Co........................ 250.00 170.20 El Zenith Jewelry Store ............................... 100.00 68.08 The Star Drug Co............................................ 50.00 34.04 Osborn, J. ,W..................................................... 25.00 17.02 Welch, Fairchild & Co.................................... 250.00 170.20' McCullough Printing Co................................ 250.00 170.20 Manila Aerie No. 500, F. O. E.................... . 50.00 34.04 Manila Lodge No. 900, L. O. O. M................ 50.00 34.04 Lambert Sales Co., Inc.................................... 250.00 170.20 Cady. C. H................................................... 50.00 34.04 Anderson, Wm. H. & Co................................... 500.00 340.40 Clark, Chas. A....................................... 50.00 34.04 Lee, H. A........................................................... 50.00 34.04 O’Malley, M. H........................... 25.00 17.02 Seidenspinner, E. A.......................................... 25.00 17.02 Heuer, F............................................................. 20.00 13.62 The Sugar News Co........................................ 50.00 34.04 Moore. (Mrs. Leonard C.................................... 20.00 13.62 Thcmas, Capt. Owen .................................... 10.00 6.81 Colton, C. M..................................................... 20.00 13.62 Peixotto, Irving, R.......................................... 5.00 3.40 Troop I, Boy Scouts of America ............... 20.00 13.62 Naftaly. D......................................................... 5.00 3.40 Insular Lumber Co........................................... 750.00 510.60 Talambiras Brothers ..................................... 100.00 68.08 Kopke, E. W..................................................... 50.00 34.04 Burnham, G. E................... 25.00 17.00 The Universal Hemp Machine Co................. 20.00 13.62 Bachrach Motor Co. Inc., The, ................... 300.00 204.24 Wester, P. J..................................................... 10.00 6.81 McLennon, John F.......................................... 25.00 17.02 American School, Inc., The ........................... 49.20 33.49 Brcmfield. J. F................................................... 25.00 17.02 Tenney, Chas. E............................................... 50.00 34.01 Thompson, S. W............................................... 25.00 17.02 Robert Dollar Co., The .................................. 200.00 136.16 Maxwell, J. T.................................................... 25.00 17.02 Gearhart, Dr. F. C........................................... 20.00 13.62 Wolfson, J. A................................................... 100.00 68.08 Wolfson. J. A., Office Staff ......................... 29.00 19.74 House, H. S....................................................... 25.00 17.02 Hanna, D. N..................................................... 50.00 34.04 Brown, John F................................................. 25.00 17.02 Locke, Bishop Chas. E.................................... 50.00 34.00 Haberer, E. J.................................................... 5.00 3.40 Pestonfee, Miss J............................................. 10.00 6.81 Zorne, F............................................................. 10.00 6.81 Street, Justice T. A.......................................... 25.00 17.02 Ferrier, J. F..................................................... 10.00 6S1 Helena Cigar Co............................................... 50.00 34.04 Frieder- Morris ........................................ 50.00 34.04 Frank, P. H'. .................................................... 10.00 '6.81 Waddington, Selina E...................................... 25.00 17.02 Carman, Ned ................................................... 2.00, 1.36 Philippine Education Co.................................. 100.00 68.08 U. S. Shoe Co................................................... 100.00 68.08 October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 9 Philippine Chapter Daughter of American Revolution .................................................... 50.00 34.04 Wicks, Geo. B................................................... 20.00 13.62 Calamba Sugar Estate .................................. 1,642.90 1,118.47 Carlson, E. M................................................... 10.00 6.81 A Sympathizer ............................................ 5.00 3.40 “Dad” Richmond ............................................ 20.00 13.62 Johnson, P......................................................... 5.00 3.40 La Loma Dairy Farm ................................... 20.00 13.62 Farris, H. G. ‘.................................................. 10.00 6.81 Correa. Miss Beatrice ................................... 5.00 3.40 Bodenstein, John F.......................................... 5.00 • 3.40 Iserson, A. S..................................................... 100.00 68.08 Thomas, Miss Katherine ............................... 10.00 6.81 Smith, Frank, Jr............................................... 50.00 34.04 Edmunds, C. W................................................ 10.00 6.81 Manila Electric Co.................................'......... 1,000.00 680.79 Luzon Stevedoring Co. Slipway Employees. 43.77 29.80 Oriental Lodge No. 135, A. F. & A. M........... 100.00 68.08 Carman, Ruth S............................................... 5.00 3.40 Pcwis-Brown Co................................................ 50.00 34.04 Turner, E. G.................................................... 10.00 6.81 Stocking. C. S................................................... 10.00 6.81 Columbian Rope Co.......................................... 100.00 68.08 Rettenbach, O. L.............................................. 25.00 17.02 Macondray & Co., Inc...................................... 500.00 340.40 Santa Ana Cabaret ........................................ 100.00 68.08 Lindner, R......................................................... 5.00 3.40 McElfresh, Dr................................................... 10.00 6.81 Kelly, A. F......................................................... 81.20 55.28 Mac Donald, Rev. K. P.................................... 110.00 74.89 Alley, J. H......................................................... 20.00 13.62 Hunter, B. B............................ 5.00 3.40 Association of American Nurses ................. 3-000.00 2,042.37 Calamba Sugar Estate Employees ............. 172.71 117.58 Cadwallader-Gibson Lumber Co. for Paysauan Cine .. .................................................... 225.80 153.72 Powis-Brown Co................................................ 52.13 35.46 Graham, Dr. James A...................................... 10.00 6.81 Milton E. Springer Co.................................... 50.00 34.04 Presbyterian Mission, Manila, for Chinese Congregation, Tacloban ............................. 25.00 17.02 Dehn & Ebsen, 6 Dz. Thermometers........... 111.78 76.10 Total ............................................1*26,863.21 1*18,288.42 (Obituary Col. Henry B. McCoy Broadway Stars To Take Part In Play For American Relief Fund Col. Henry B. McCoy, a member of the Board of Directors of the American Cham ber of Commerce and one of the most popu lar and respected members of the Amer ican community in the Islands, passed away suddenly on Sunday, September 30, at his home in Pasay. Col. McCoy had recently undergone a major operation but had rallied nicely from it and was be lieved to have fully recovered from its effects when stricken with apoplexy. At the time of his death he was general manager of the Manila Railroad Company. Col. McCoy.- Was for many years and up to the time of his death Republican Natio nal Committeeman from the Philippines. Born in Carlinville, Ill., August 5, 1866, and educated at Wesleyan University, Col. McCoy came to the Philippines as lieut enant colonel of the 1st Colorado Volun teers in 1898 and was promoted colonel of that regiment on August 13 of that year, when he personally lowered the Span ish flag over Fort San Antonio Abad. In, 1899 he was made a major of the 44th U. S. Volunteers, terminating his services with the Army on July, 1901, with the close of the Spanish-American War. He became Deputy Collector of Customs and succeeded W. Morgan Shustei- as Insular Collector of Customs in 1909. He resign ed in 1913 to engage in private business and has devoted much of his time since then to his mining interests, principally the Colorado Mining Company, a gold min ing property which he organized and dev eloped. Governor General Wood appointed him manager of the Manila Railroad in 1922 and he has done much to piece that rundown property on a profitable, wellerganized basis. Col. McCoy was probably the bestknown American in the Islands and num bered among his intimate friends ex-President Taft, President Harding, W. Came ron Forbes and General Leonard Wood. He was at various times prominently men tioned for the governor-generalship of the Philipnines. By his death the Chamber and the American community in the Is lands lose one of the their most valuable and best-liked members. If any single American could be regarded as the leader of local Americanism it was Colonel Mc Coy. He is survived by Mrs. McCoy, two brothers, James McCoy, New York capital ist and Asa McCoy, and a sister, Mrs. Campbell, of New York. Preparations for the production of “The Champion,” one of the outstanding successess of the American stage in recent years, for the benefit of the Chamber’s Fund for Indigent Americans, are well under way, and from present indications the perform ance will be one of the best ever staged in Manila, either professional or amateur. This will be largely due to the fact that two well-known Broadway stars, one of whom took a leading part in the Broad way production of the same comedy, have been engaged to assist in directing the play and will also take prominent parts in it. Two performances will be given, on Sat urday, October 27, and Sunday, October 28, at the Grand Opera House. A chorus, com posed of ten of Manila’s prettiest society girls, will be one of the outstanding at tractions of the performance. There are 17 people in the cast, 13 men and four women, besides the chorus. “The Champion” is the famous play written by the well known playwrights A. M. Lowden and A. E. Thomas in which Grant Mitchell, one of the leading come dians on the American stage, starred less than two years ago. It opened at the Cort Theatre, New York, in January, 1921, and ran for fifteen months. When it was re leased for the road, five companies were immediately organized and produced it from one end of the United States to the ether. It was one of the most notable suc cesses of recent years. It is clean, with out a vulgar line, from curtain to curtain, and a satire on both American and Eng lish life. It is comedy throughout. Although the entire production is in the hands of J. A. Wolfson, he has engaged two professionals, an actress and a dancer, to dfrect the play and the chorus, respectively. Miss Desiree Stempel, who came to the Philippines only a few months ago to join her husband, just finished a long engage ment with Mary Nash in the great success “Captain Applejack.” Miss Stempel had been with the original cast of “The Cham pion,” playing in the New York engage ment for fifteen months with the original company. She is not only directing the play, but is appearing in the same part which she took with the original cast. This is the first time that Manila has ever had the opportunity of seeing a real Broadway star appear with an amateur cast and in the sanie part which she played so success fully in the professional production. Miss Lorraine Wise also recently came to the Philippines to join her husband. Prior to her marriage, which took place cnly a few months ago, she was a head liner in vaudeville and is known from Boston to San Francisco and from Chicago to New Orleans. She is an exponent of dancing in all its variations. Miss Wise has undertaken io direct the chorus and besides that has volunteered to give her own specialty dance, the one for which she is famous. Here again is a treat which Manila has never had before. The cast includes the following members: Mrs. W. D. Whittemore, Miss Desiree Stempel, Miss Margaret Read, Miss Bcttina Anderson, C. B. Moore, L. E. Holden, F. B. Ingersoll, J. M. Woolfolk, Gordon McPherson, Eric R. Roberts, W. J. Jamie son, E. E. M. Johnson, Geo. B. Wicks, George Kerr, Gordon Mackay, J. M. Rin con and Dr. J. Rees Daugherty; and the chorus, directed by Miss Lorraine Wise is composed of Mrs. M. B. Cheadle, Mrs. Les lie Zenor, Mrs. A. Murray Neilson, and Misses Sue Alston McDonald, Ditas MacGavin, Helen Estes, Mildred Blackburn, Rosalind Fisher, Dorothy Rosenstock and Jeannie MacGavin. Special sub-committees are being ap pointed to take charge of various parts of the arrangements. Special attention is being paid to the manner in which the seats are to be dis posed of so as to assure equal opportunity to all. Due announcement in regard to the sale of tickets will be made in the American daily press. The advertising campaign is well under way and the sub committee in charge of that promises some unusual and up-to-date methods. Both before and after the performances and during the intermissions special at tractions will be offered in the lobby from which it is hoped a considerable amount will be added to the general fund. Rehearsals are well under way and are being held in the Chamber’s rooms every afternoon from 5:00 to 7:00. No visitors are allowed. The management promises a brilliant production, beautifully staged, and with superb gowns. It is the duty of every member of the American Chamber of Commerce to get behind this entertainment and support it to the fullest extent. 10 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 EDITORIAL OFFICES American Chamber of Commerce 14 CALLE PINPIN P. 0. Box 1675 Telephone 1156 THE AMERICAN CHAMBER OF COMMERCE OF THE PHILIPPINE ISLANDS should not be con fused with other organizations bearing similar names such as the Philippine-American Chamber of Com merce, the Philippine Chamber of Commerce and the Manila Chamber of Commerce. As the bfficial publication of the American Chamber of Com merce of the Philippine Islands, this JOURNAL carries authoritative notices and articles in regard to the activities of the Chamber, its Board of Directors, Sections 'and Committees. The editorials are approved by the Board of Directors and, when so indicated, other articles are occasionally submitted to the Board for approval. In all other respects the Chamber is not responsible for the ideas and opinions to which expression is given VoL 111. OCTOBER, 1923 No. 10 THE JAPANESE CATASTROPHE Japan, our neighbor country, was visited by one of the greatest catatrophes of all history on September 1, when an earthquake followed by fire destroyed the greater part of Yokohama and laid waste a large portion of Tokio, the capital city. About 100,000 people were killed, hundreds of thousands injured, and at least 500,000 houses destroyed. Sickness broke out among the survivors in the stricken region, adding to the horrors of the situation. It was a holocaust that instantly aroused the sym pathy and generosity of the entire world, and the Philippines, due to their geographical situation, were the first to come for ward with what little aid could be summoned up for the emer gency. The army transports Merritt and Meigs and the naval tran sport Pecos were immediately loaded with supplies and relief workers, both Americans and Filipinos, and hurriedly dispatched to the stricken district. They were the first to arrive on the scene from foreign countries and Brigadier General McCoy, who is in charge of the American relief work, has cabled that the Japanese government is highly appreciative of this assistance. The Governor General, the American Chamber of Commerce, the Philippine Chamber of Commerce and various other entities im mediately took up subscriptions for the relief of the sufferers and tens of thousands of pesos have been contributed. As usual in emergencies of this sort, the American Chamber was among the first and most successful organizations in the work. This Chamber expresses its deep sympathy and heartfelt regret over the terrible calamity and is glad to have been of some valuable service in the relief operatiohs. It is occasions like these that bind humanity closer in bonds of friendship and cooperation. If there ever was any doubt as to the real friendship between the great American and Japanese nations, such doubts surely have been dispelled by the instant response of the big heart of Amer ica to the dire needs of the Japanese people in these days of calam ity and suffering. AN OPPORTUNITY AT HOME Americans in the Philippines have come forward splendidly in the way of contributions toward the relief of the Japanese earth quake sufferers. Nearly 1*30,000 was collected by the American Chamber of Commerce for the relief fund. Now an opportunity presents itself to do something in the way of relief for our own countrymen in the Islands who from time to time become the victims of unfortunate circumstances and who apply to the Cham ber for relief. End of this month, the Chamber will stage “The Champion,” a brilliant comedy with musical interpolations. It is the most am bitious amateur production ever attempted in the Islands and is being directed by Mr. Julian Wolfson, whose previous successes in Manila amateur theatricals are well known. He has selected a large and competent cast and will put up a show almost up to Broadway standards. From an artistic and amusement stand point alone, it will be well worth attending. The proceeds will go to che Chamber’s Relief Found for Indigent Americans. The mark set is 1*20,000. It is hoped that every American in Manila and as many as can come to the city from the provinces will attend this perfor mance. Tn this way they can demonstrate that not only are they instantly and generously responsive to the urgent relief needs of foreign peoples outside of the Islands, but that their charitable impulses arc genuine because they continue at home and for the benefit of their own kind. HOW THE BRITISH DO IT Great Britain is a nation with centuries of experience in foreign trade. In fact her overseas commerce is the very basis of her national existence. Without the trade of her colonies and possessions, the British Empire would be a name only. Hence Britain has learned how to take good care of her foreign trade, to protect and assist her nationals engaged in business abroad and to utilize all her national resources with the prime object in view of encouraging and fostering her overseas commerce. The United States is new at the game of international commerce on a large scale. Might we not profit by some of the methods employed by Great Britain in the encouragement of overseas business? We have special reference to the income tax question. While the United States is levying a heavy income tax upon Ameriican citizens engaged in business abroad, Great Britain is ex empting her subjects from the payment of this tax on incomes derived in outside countries and is refunding such taxes which were paid during a period when the urgent exigencies of the national ex chequer compelled their exaction. Other nations treat their sub jects doing business in foreign lands with similar consideration. It is against these foreigners that American businessmen abroad must compete, in the face of an income tax levied upon them by their own government which makes competition practically impossible. No American, no matter where his place of residence may be, would object to the payment of income tax levied upon all American citizens, provided this levy were not very prejud icial, if not fatal, to his business interests and hence to his live lihood. But collection of the federal income tax in the Philip pines while foreigners are exempt from this tax, would be a knock-out blow to American business in the Islands. It would spell utter ruin for many firms and individuals. The British handle the income tax matter with greater fairness and wisdom, born of long experience. Our Washington solons would do well to follow the British example. October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 11 ANOTHER MISREPRESENTATION In its issue of September 26, the Philippines Herald, organ of one of the Filipino political parties, makes the following state ment: Misled as to the number of newspapers which have received certain payment from the Philippine Commission of Independence and the purpose for which the payment was made, the Democratas mentioned only the Philippine. Herald in enumerating their specific charges in connection with the expenditure of the funcfe of the Philippine Com mission of Independence. But the records in the office of the Com mission show that the Manila. Daily Bulletin and the American Cham ber of Commerce Journal have also been paid by that office for a similar service. The official records prove that the amount paid was for an extra edition of the paper like those of the Manila Daily Bulletin and the .American Chamber of Commerce Journal. This is untrue and unfair. Any one reading the above state ment would naturally infer that the American Chamber of Com merce Journal had published an extra issue for which the Inde pendence Commission paid, as appears to have been the case with an issue of 25,000 copies of the Herald prepared for propaganda purposes previous to the sailing of the last Independence Mission to the United States. The facts are as follows: After the Occupation Day issue of the Journal had been published, an American called up the editor on the telephone and informed him that he (the man who called up) had told Mr. Kalaw, Secretary of the Commision, that the Commission ought to buy 200 copies of the Journal, as it con tained several good articles, including one by the man who called up. As several hundred extra copies had been printed to meet any possible extra demand, the editor was glad of this opportunity to sell 200 copies and asked Mr. Kalaw over the telephone whether it was true that he wanted 200 copies, all the time with a sneaking suspicion that someone was playing a joke. Mr. Kalaw, however, seemed serious and said he hadn’t seen the paper but if the editor would send him a copy he would look it over and then decide whether he wanted any. A messenger was sent to Mr. Kalaw with a copy, and and two or three days later Mr. Kalaw ordered 100 copies at the regular price. There are still 100 unsold copies on hand which Mr. Kalaw, or anyone else, may purchase at the rate of 50 centavos a copy. This is what the Herald calls “services similar to those rendered by the Herald." In an other part of the article the Herald says that this Journal distri buted 100 copies free, which is, of course, a downright lie. We make this explanation merely for the purpose of warning our readers against false and irresponsible statements with re gard to the Chamber and its activities printed by a supposedly responsible newspaper of wide circulation in the Islands. THE BANK CENTRALS After negotiations extending over several weeks, represen tatives of Haydon, Stone and Company, bankers, and E. Atkins and Company, sugar factors, have failed to come to an agree ment with the Negros planters with regard to a plan for the financing of the sugar centrals controlled by the Philippine Na tional Bank. The American interests, in brief, offered to bond the properties for 1*20,000,000, thus settling with the National Bank for about 50 cents on the dollar in cancellation of all obligations on the part of the centrals to the Bank, and to furnish competent management for the properties on a per centage basis. The planters thought they could obtain more favor able terms. It is to be regretted that the proposition failed to prosper, be cause its success would have marked the first investment of American capital on a really large scale in the Philippines for several years. Not only that, but in all probability other Am erican interests in different lines of industry would have been encouraged to make big investments in the Islands, thus giving us that necessary impetus of capital plus expert knowledge which is essential for a proper development of the immense natural re sources of the Archipelago. However, there is an optimistic angle to the deal, even though it did not go through. The fact that there are big American interests who are willing to invest as much as 1*20,000,000 in a Philippine enterprise should be cause for some gratification. These interests, of course, want very good terms, .which indicates that they consider themselves to be taking a more than ordinary chance; and, regarded from this aspect, the deal would indicate that conditions in the Islands do not as yet-comply with Gen eral Wood’s definition of a stable government—namely a gov ernment under which capital seeks investment at normal rates of interest. Were the political status of the Islands unequivocally de fined, so that capital could with certainty count upon the pro tection of the American flag for a long period of time, there is little doubt but that better terms would be offered by out side large-scale investors. As things are, we must contend our selves with offers, which, though running into large figures, still demand a more than normal return upon whatever investment is made. However, the sugar central deal mqy certainly be re garded as a sign of some improvement in the investment situa tion, probably not unconnected with the rehabilitation of the in sular finances. ENGLAND REJECTS C. O. D. SYSTEM British commercial journals recently received in Manila re port the rejection of the C. O. D. parcels post system by the British Postmaster-General following a recommendation to this effect by the British Associated Chambers of Commerce, whose Home Af fairs and Transport Committee, supported by the Executive Coun cil, found “that the existing shopping facilities render this ad ditional service by the Post Office unnecessary.” The Birming ham Chamber of Commerce, in a letter to the Postmaster-General the Postmaster-General to make a decision on the matter. That THE SINGAPORE NAVAL BASE A member of this Chamber who recently returned from Hong kong brings word that sentiment in that British colony among the most influential and well-informed people is strongly in favor of indefinite American sovereignty in the Philippines. The rea son given for this attitude is the need for the preservation of the balance of power in the Far East. Under the Washington treaties, the United States is prevented from fortifying the Is lands. Great Britain, however, is able to fortify her naval base at Singapore and this strengthening process is now in the course of realization. Many Britishers are in favor of making Singapore a joint base with the United States, our informant tells us, in which event it would constitute a most powerful guarantee of the maintenance of peace in this part of the world. It is said that such a proposition is receiving strong backing in Downing Street and Parliament. All this, of course, is only report and has absolutely no authoritative official background, but it indicates the sound no tions as to the vulnerability of the Islands from a military strategic standpoint entertained by many foreigners. Amer icans are pretty well agreed that if the Stars and Stripes are ever pulled down here, the territorial integrity of the Islands will be placed in real jeopardy; and there is little ground for doubt ing this theory. Advocates of absolute independence, please take 12 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 Consolidated Cars of Merchandise Machinery and Other Commodities are forwarded across the United States on dependable schedules connecting with steamers for MANILA, P. I. This service assures saving in time, in detail and expense. Less than car load shipments origi nating in territory east of the Missis sippi River when routed in our care move at car load rates plus our Nom inal Service Charge. Rates and particulars relating to this service or other traffic information with which Philippine merchants may be concerned in the States, will be cheerfully furnished upon inquiry to our General Office. TRANS-CONTINENTAL FREIGHT COMPANY F. L. Bateman, President W. L. Taylor Sec. and Treas. K. H. Hinrichs, Export Manager Export and Domestic Freight Forwarders. General Office: 203 So. Dearborn St., Chicago Eastern Office: Woolworth Building, New York Boston Old South Bldg. Buffalo Ellicott Square Philadelphia Drexel Building Cincinnati Union Trust Bldg. Cleveland Hippodrome Bldg. Los Angeles Van Nuys Bldg. San Francisco Monadnock Bldg. Senttle Alaska Bldg. Portland, Ore. 15th and Kearney Denver 1700 Fifteenth St Review of Business Conditions for September REVIEW OF THE EXCHANGE MARKET By W. D. Whittemore Manager, International Banking Corporation. Dollar exchange ruled remarkably steady throughout the month, the selling rate having remained at 1-1/4% premium prac tically all the time. During the last fort night, however, rather more export ex change has appeared on the market, with the result that banks at the close were not quite such keen buyers and were showing a little more readiness to sell. Within the last day or two the prevailing rate has been 1-1/8% premium. Sterling opened at 2/1 15/16 and closes at 2/1 7/8. For most of the intervening time 2/2 has been the prevailing rate, al though we had one brief excursion up to 2/2 1/8, and later another one down to 2/1 7/8, both times returning almost im mediately to our level of 2/2. Business in sterling has been mope or less neglected. Sterling in New York opening at 4.54 7/8, dropped quite rapidly to 4.51 7/8 in the early part of September but quickly recovered to a level of 4.54 1/2, where it held steady for about a fortnight. At the close the market seems to be rising, the last quotation being 4.56 1/4. Bar silver in London has been gradually rising, starting at 30 13/16 and going up by easy stages, with occasional slight re cessions, to 32 3/8. The last two or three days silver has lost a little of its ground, closing at 32 1/16. Speaking generally, our exchange market has ruled on the dull side for another month. Nominal quotations for telegraphic trans fers on other points are: Paris .................................. 780 Madrid ............................... 144 >/2 Singapore .......................... 109 Yokohama ............................ 99 Hongkong ......... 107 Vi Shanghai .............................. 68 Vi India ................................... 158Vi Java ................................... 129 REVIEW OF THE HEMP MARKET By J. C. Patty Secretary and Assistant Treasurer, Macleod & Company, Inc. Our last report was dated August 27 and this report covers the period from that date to September 24. U. S. GRADES: At last writing busi ness was done in Manila on basis of F 1*17,, I 1*15.50 and J 1*13.50. There was a slight recovery within a few days, F ad vancing to as high as 1*18.50,1 to 1*17.50 and J to 1*14.75. During the past two weeks the market has again sagged, and it may be quoted nominally at present at 1*17.00 for F, 1*16.00 for I and 1*14.25 for J. The market for U. S. grades, both in Manila and the United States, is dull, with very little business doing at the moment. U. K. GRADES: At last writing prices in Manila were 1*11.00 for J, 1*8.75 for K, 1*8.50 for L and 1*7.75 for M. Prices op U. K. grades in Manila have followed about the same course as those on U. S. grades, i. e. there was a slight advance, which has again been lost, and quotations here are now about the same as they were a month ago. London quotations at date of our last report were £29-10/ to 30—for J, £25-10/ for K and L and £24-10/ for M. Today’s quotations in London are J £31—, K £26—, L £25-10/ and M. £24-10/. QUALITY OF U. K. GRADES. There have been recently an increasing number of complaints from the U. K. regarding the quality of hemp. Telegrams received from London state that more weak hemp is being found and they warn the shippers here that some action must be taken to improve the quality or the hemp trade will suffer. Shippers here are practically unanimous in the opinion that the improve ment in quality lies at the source of pro duction and that every possible action must be taken by the proper officials to prevent the packing of inferior or damaged hemp. FREIGHT MARKET: In our last re port we stated that while there had been some discussion as to the advisability of reducing the rate of freight to the United States, it had been decided to leave this unchanged for the present.- However, at a later meeting of the Associated Steam ship Lines, held on September 7, it was decided to reduce the rate on hemp to $2.00 per bale, shipment to Atlantic Cost ports, 75 cents via Pacific for shipment overland to the interior of the United States, and $1.25 per bale on shipments to Pacific Coast only. These rates become effective immediately and are to remain in force un til the end of November. We give below our usual statistics: 1923 1922 Stocks on January 1 Receipts to Sept. 24 Stocks on Sept. 24 Bales Bales155,495 256,400 1,091,835 874,479 175,171 190,642 SHIPMENTS To Sept. To Sept. 24, 1923 24,1922. Bales Bales. To the U. K. 261,665 To the Continent of Europe 95,252 To Atlantic U. S. 312,863 To U. S. via Pacific 164,672 To Japan 184,089 Elsewhere and Local 53,618 214,083 68,938 240,875 227,803 139,779 48,459 1,072,159 939,937 SEPTEMBER SUGAR REVIEW By Welch, Fairchild & Co., Inc. Our last review was date August 28.. NEW YORK MARKET: The market for the period under review has made con siderable recovery, and during the second half of this month developed almost un looked-for strength, as is evidenced by the advance in prices of raws, which rose from 4-3/8 cents, c & f., to 5-3/4 cents, c. & f., for Cubas for prompt shipment. October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 13 At the present writing we are informed that business has been done at 6 cents, c. & f. Refined has advanced from 7% cents to 9.15 cents. The improvement in the New York market has apparently been due to a better demand for refined sugars in the United States and to the fact that the stocks of raws now available in Cuba are limited and firmly held, and are being keenly bought both by U. S. and European buyers. During the period under review, Phil ippines centrifugal sugars were sold at prices ranging from 6.22 cents to 7.41 cents, landed terms. It is rumored that the coming Cuban crop may not be much larger than the crop just finished, which slightly exceeded 3,600,000 tons. At one time it was esti mated that the coming Cuban crop might reach 4,000,000 tons; the reduction in the estimate has been reflected in an advance in futures on the exchange which indicate favorable prices for next year. LOCAL MARKET: There have been transactions in centrifugal sugars in che local market at '1*16.00 per picul, ex-go down, and in Muscovados at 1*12.00 per picul, ex-godown, basis 88°. There are buyers now at higher prices, but no sellers. The growing crop was reported to be suffering from lack of rain, and it was predicted that if dry weather continued, the out-turn might be seriously affected. Latest advices, however, report heavy rains in Negros which it is hoped will be bene ficial to the growing crop. Reports have been received that large swarms of locusts have again infested su gar districts in Laguna. So far no re ports have been received from Negros of any reinfestation, but the reinfestation of Laguna should impress upon all of us the necessity of conducting a continous cam paign against locusts in the endemic areas instead of waiting until they actually in vade our sugar fields. ORIENTAL MARKET: The market for Philippine muscovado sugars in the Orient has remained quiet, but the under tone is much stronger. In the recent ca tastrophe in Yokohama and Tokio, approxi mately 100,000 tons of sugars were de stroyed, and also four refineries with a total daily capacity of 600 tons. It is believed that it will be necessary for Japan to re place in the near future the stocks she has lost in the catastrophe and that this will lead to a renewed interest at higher prices in our remaining muscavado stocks, which are held in firm hands. JAVA MARKET: The Java market has considerably improved in keeping with the New York market, latest quotations to hand being Gs. 16-% for Superiors and G. 15-5/8 for Browns, both ex-godown, for October-November shipment. GENERAL: The latest estimate of the domestic beet crop is 745,500 tons and of the Louisiana crop 215,000 tons. It is estimated that the areas in cane in India for the coming crop have been in creased 13%. For BETTER than the AVERAGE PICTURES Come in and see the GRAFLEX and the GRAPHIC—two won derful machines for taking pictures under unfavorable conditions. DENNISTON, Inc. 118 ESCOLTA At the Top of the “Pile” COPRA AND ITS PRODUCTS By E. A. Seidenspinner Manager, Willits and Patterson, Ltd. Manila, September 26, 1923. COPRA With favorable weather conditions, copra production has increased steadily during the month of September and will execeed that for any previous months during 1913. Our estimate of arrivals at Manila up io and. including September 30 is 380,000 sacks as compared with 344,000 sacks for One of our customers recently used this some what inelegant but none the less truthful expres sion when speaking of the Underwood Standard Typewriter. In mechanical perfection, durability, all-around writing efficiency, the Underwood Standard is truly “at the top of the pile.” The Underwood is first wherever typewriters are used. You can prove it yourself. Ask any typewriter user to mention several best known makes. Invariably he will name the Underwood FIRST. The Underwood is first in quality, first in mechanical perfection, first in popularity, and now first in LOW COST. P 185.00 SMITH, BELL & CO., LTD. HONGKONG & SHANGHAI BANKING BLDG. ^MANILA. 14 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 September 1922. Notwithstanding the healthy increase, buyers have absorbed all arrivals at prices over those ruling for August, and business is being done at this writing on a basis of **10.00 to **10.25 for corriente, and **11.50 for resecado. Foreign quotations have not equaled local levels for the month, and it will be neces sary for Europe and America to strengthen their bids or for the local market to decline 50 centavos per picul in the near future, to bring all markets into parity. Latest quotations from U. S. and foreign markets follow: U. S........................... 4-3/4 cents London ............... £26-7-6-F.M.M. COCONUT OIL At this writing the market for coconut oil is slightly firmer, both in America and Europe, but the best quotations we have received do not permit of profitable manu facture on the local copra market. Fur thermore, there seems to be a lack of large demand on the part of U. S. buyers. Up to September 22, oil in second-hands was being offered freely at 8 cents. Latest advices follow: U. S. .. 8 cents, c.i.f. West Coast London ........................... £41-15-0. Total oii exports for the month of Sep tember will approximate 8,308 tons as against 6,757 tons for September 1923. COPRA CAKE This market remained quiet during the first half of the mdnth, although during the past week there have been a number of inquiries. Today buyers are indicat ing **30.00 per metric ton, ex-warehouse, but we have not heard of sellers at this future. Freight rates to the Continent have been reduced to 40 shillings, and if European buyers increase their bids somewhat, it is possible that business will result. Foreign Quotations U.S...........$21.00 per ton of 2,000 lbs. London ...................................... £6-5-/. TOBACCO REVIEW By an Active Member Nearly all cigar factories in Manila are quite busy manufacturing goods for the Christmas trade, particularly for the Uni ted States trade. Prices continue low, some of the smal ler factories offering goods at quotations that are below cost. They have contracts with importers in the United States who work on a very small margin of profit. This has more or less demoralized the whole market, but practices of this kind cannot keep on indefinitely and will pro bably cease as soon as the 1922 stocks of tobacco are all in strong hands. Cigar leaf rules steady, with cigarette and smoking grades of leaf tobacco dis playing an upward tendency. Reliable reports from the provinces in dicate that the 1923 crop of Philippine tobacco will be considerably smaller than that of 1922. This is particularly true as regards the province of Isabela, one of the principal tobacco regions in the Islands. Wholesale cigar prices have not changed materially from oui- last report, for August. LUMBER REVIEW July-August By Arthur F. Fischer Director of Forestry. Reports received from the lumber com panies for August, show a slight increase in lumber production as compared with July but a sharp decline in shipments, conOctober, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 15 trary to the usual trend of business in previous years, which may be accounted lor by the greater frequency of storms during August this year and the compara tively large shipments made during July. The total production for July at the 21 mills for which reports are regularly re ceived, was 10,945,000 board feet, while the indicated production for August, from the reports received so far, is 11,500,000 board feet as compared with 8,740“,000 board feet for August 1922. The total sales for July were 12,718,000 board feet, with the indicated sales for August running to only 7,700,000 board feet as compared with 8,915,000 board feet during August 1922. This increased production and decrease in shipments has brought a corresponding increase of stocks on hand to approximately 20,000,000 board feet at the end of August, but with the normal increase in shipping of lumber during the latter part of the year, which has been regularly noted dur ing previous years, together with the in terest which the prospect for an active market for reconstruction material in Japan has caused, considerable activity may be expected during the remaining months of the year. It may be noted, however, in connection with the Japanese market that in filling orders for reconstruction materials, local woods will meet with strong competition from American and Canadian soft woods, which are already well established there and which can be supplied in very large quantities at low prices as compared with the supplies from the Philippines, so that a large development of business from this source is not to be expected and efforts should rather be turned to a continuation of the building up of the trade in Philip pine lumber for special uses and finishing woods. AUTO TRUCKING CO. FURNITURE MOVED CONTRACT HAULING BAGGAGE TRANSFERRED DUMP TRUCKS FOR HIRE H. CARSON, Proprietor. 1955 cAZCARRAGA INSULAR LUMBER COMPANY MANUFACTURERS AND EXPORTERS -------------------------------------- OF--------------------------------------PHILIPPINE CABINET WOODS THE RICE INDUSTRY By Percy A. Hill of Munoz, Nuevo, Ecija, Director, Rice Producers’ Association. Prices for both rice and palay have registered a sharp advance, approximating 10% for both the unhulled and the milled product. Prices which were on the increase due to the peak value of the season (August-Septc-mber) were given a further im petus due to the large amounts withdrawn from both stored rice and shipments direct from overseas, to relieve the sufferers in the late- Japanese disaster. While the total amounts which should be supplied to Japan in the form of rice may not be large, yet it is seen that practically every entity in the several different countries concentrated on rice as the quickest and most needful form of relief. The new crop is about to come in, that is the earlier varieties, and this may aid the local markets but can have little ef fect on general prices, although it is not considered that present prices will remain so high except for a short time. At pre sent palay is selling at 4*4.30 per cavan in Cabanatuan, the main Luzon shipping point, as compared with 4*3.85 two weeks previous. The premier rice-exporting country, which bears the same relation to the rice industry as does the United States to cot ton production, is Burma. The phenomen al expansion of the rice industry in Bur ma dates from before 1870, as previous to that date exports were mainly to India, to stave off famines. Exports in 1870-1871 were 440,000 tons, the next year 487,000 tons; but in the two succeeding years this was increased to 720,000 tons and 810,000 ANNUAL CAPACITY 36,000,000 FEET TANGUILI RED LAUAN ALMON and APITONG LUMBER ^MANILA, P. I. FABRICA, P. I. 16 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 E. GASKELL & CO., Inc. CUSTOMS BROKERS RECEIVING AND FORWARDING AGENTS Land and Water Transportation Bonded and Public Warehousing CODES: WESTERN UNION BENTLEY’S A. B. C. 5TH EDITION PRIVATE CODES TELS: OFFICES: 103 Juan Luna BODEGAS: 21, 29, 35 & 41 Barraca St. tons, respectively, while the number of steam rice mills was twenty-six. A large immigration of coolies from India began, at first employed in the rice-mills; but later this stream of labor was directed to the rice-fields in this “land of plenty’’. The class of export rice was improved and changed from the soft grained varie ties, which were in demand by the richer consumers but which could not stand ship ment, to the harder grained varieties, which have been standardized into the reg ular Burma No. 2. The area under cul tivation in 1870 was 1,712,030 acres, in 1872 over 2,000,000 acres and then for upward of thirty years the average annual increase was at the rate of 150,000 acres per year, which has gradually brought the whole of Lower Burma under rice cultivation, by small cultivators and mainly for export purposes. The crop is now grown on 11,183,495 acres, with an estimated yield of 6,875,000 tons of palay, 100 tons of palay taken as equivalent to 77.5 tons of rice, as per for mula approved by the Rangoon Chamber of Commerce. The coming (August) crop is very promising. The declared exportable surplus on March 1, 1923. was 2,600,000 tons of cargo rice, of which 1,800,000 tons, had been disposed of on Agust 1, but with the possibility of a large carry-over. REAL ESTATE By P. D. Carman, San Juan Height^ Addition. SALES, CITY OF MANILA July 21, to Aug. 21 to Aug. 20 Sept. 30 Santa Cruz............... Fl75,523 1*303,245 Quiapo ..................... 17,187 Paco ............................ 3,999 48,899 Tccido ..................... 75,657 382,218 Binondo ...................... 10,000 16,000 Malate ......................... 70,350 194,064 Sampaloc ...................... 36,137 62,831 Santa Ana............... 2,016 -------Ermita ......................... 49,511 27,450 San Nicolas .................. 43,568 21,800 San Miguel .................. 27,000 13,400 Pandacan ................. 360 -------Sta. Mesa ................. 7,000 -------1*504,123 Fl,153,444 Sumatra-Wrapped Isabela filler that brings to you that satisfaction you have a right to expect from an excep tionally good cigar. January ..................... February ................... March ....................... April ......................... May ........................... June ........................... July ........................... August ....................... September ................. THE NAME “ALHAMBRA” ASSURES ITS QUALITY F570.486 1,151,309 778,153 729,829 1,381,465 1,027,668 717,859 504,123 1,153,444 After quite a slump in July and August, the Manila real estate market came back strong in September with the second best month of the year. Several very large transactions were reported in Tondo and Santa Cruz, and practically all districts indicate greater activity than for several months. In general, surburban sales ap pear to continue fair. October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 17 IRON AND STEEL REVIEW By Chas. A. Clark Pacific Commercial Company GALVANIZED IRON ROOFING SHEETS:—Movement during September was much better than for the month of August, due largely to improved weather conditions. Demand was fair; inward ar rivals light; prices weak, notwithstanding manufacturers’ advanced costs of sheets afloat for arrival during the next 30 days. NAILS'.—Demand was good; fair quan tities arrived but were readily absorbed owing to shortage of stocks, particularly in 2” and 3”; prices firm, tendency up ward; stocks afloat for arrival within 30 days at higher manufacturers’ costs. BARBED WIRE'.—Prices slightly hard ened, notwithstanding continued overstocks, weak holders having let their stock go at low figures; no large quantities were re ceived; demand will strengthen as weather improves. STEEL BARS'.—Fair demand for rein forcing bars; shortage of stocks in diame ters less than ’/a”; small shipments arriv ing were promptly absorbed at highest prices for the year; noticeable increase in number of inquiries from contractors pre paring to cover their requirements for the' coming building season. Manila, September 26, 1923. SCHEDULE OF MEETINGS Monday, October S, 1:00 p. m: Regular meeting, Builders’ Section. Tuesday, October .9, 4:00 p. m.: Regular meeting, Board of Directors. Wednesday, October 10, noon: Weekly luncheon and regular semi-monthly meet ing, Active and Associate members. Monday, October 15, 1:00 p. m.:Regu lar meeting, Builders’ Section. Tuesday, October 10,-1:00 p. m.: Regu lar meeting, Hemp Section. Tuesday, October 16, 4:00 p. m.: Regu lar meeting, Board of Directors. Wednesday, October 17, noon: Weekly luncheon, speaker to be announced. Monday October 22, 1:00 p. m.: Regu lar meeting, Builders’ Section. Tuesday, October 22, 4:00 p. m.: Regu lar meeting, Board of Directors. Wednesday, October 24, noon: Weekly luncheon and regular semi-monthly meet ing, Active and Associate members Monday, October 2S), 1:00 p. m.: Regu lar meeting, Builders’ Section. Tuesday, October 30, 1:00 p. m.: Regu lar meeting, Hemp Section. Tuesday, October 30, 4 :00 p. m.: Regu lar meeting, Board of Directors. Wednesday, October 31, noon: Weekly luncheon, speaker to be announced. Thursday, November 1, 5:00 p. m.: Re gular meeting, Embroidery Section. Monday, November 5, 1:00 p. m.: Re gular meeting, Builders’ Section. Tuesday, November 6, 4:00 n. m.: Re gular meeting, Board of Directors. Wednesday, November 7, noon: Weekly luncheon, speaker to be announced. NEW MEMBERS Associate N. V. Sinclair, Del Carmen, Pampanga. E. M. Terry, 2973 Herran, Manila. 18 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 WITH THE BOARD OF DIRECTORS Tuesday, September ,'f, 1923. Resignation of Associate Member D. M, Burchfield was accepted. Present: Directors Elser, Feldstein, Ga- Application of N. V. Sinclair for As ches, Green, Haussermann, Heath, Rosen- sociate membership was approved, stock, Russell. Letter from Alternate Director P. A. cTWessrs. BLOM C& VAN DER AA (Head Office: Amsterdam) HAVE BEEN APPOINTED GENERAL AGENTS IN THE PHILIPPINES FOR THE PRUDENTIAL ASSURANCE CO., Ltd. (Est. 1848) THE CALEDONIAN INSURANCE COMPANY. (Est. 1805) and are prepared to underwrite FIRE INSURANCE throughout the Phil ippine Islands, and MARINE INSURANCE to all parts of the World. Branches, Agents and Correspondents in all important Cities throughout the World. Tel. 1639 MANILA BRANCH HOUSE 129 Juan Luna cA. S. GUTTRIDGE, <J7Wanager FIRE INSURANCE E. E. ELSER Atlas Assurance Co., Ltd. London Fire Insurance The Employers Liability Assurance Corporation, Ltd., London Fire, Plate Glass, Automo bile and Accident Insurance The Continental Insurance Co. New York Fire Insurance Information as to rates or other matters pertaining to Fire Insurance cheerfully furnished by E. E. ELSER Kneedler Building 224 Calle Carrledo P. O. Box r'Q8 Phone 129 J able Address—“EDMIL,” Manila. H. R. ANDREAS MANILA, P. I. EXPORTER AND IMPORTER Meyer suggesting that the interest of Wil liam H. Gardiner, vice president of the Navy League who spoke at the Chamber on August 31, might be enlisted to the end that the Federal Government relieve Amer icans in the Philippines from federal in come tax payments, was read. It was de cided to await the action of the special committee on the income tax question. (At the meeting of Active and Associate members on September 5, the Secretary was instructed to furnish data to Mr. Gar diner.) A second communication from the office of the Governor General asking for recom mendations upon legislation, was read. The Secretary reported that the special com mittee was working upon the report to the Governor General on this subject. The following resolutions were unani mously adopted: “Resolved that the sympathy of the American community in the Philippines represented by the American Chamber of Commerce of the Philippine Islands be ex pressed to the Japanese people and the Japanese Imperial Government over the appalling disaster of flood, earthquake and fire reported in the press to have devas tated the capital city of Tokio, the com mercial and industrial city of Yokohama and adjacent commercial and industrial centers; “Resolved, further, that in view of the abruptness and wide-reaching scope of the disaster, which will require considerable time for the government and people of Japan adedquately to relieve, this Chamber of Commerce guarantee a fund of MO,000 for the relief of sufferers left destitute, the sum to be forwarded immediately in the form of supplies; “Resolved, finally, that each Director of the Chamber contribute MOO or more and that the question be brought before the general meeting on Wednesday, September 5, 1923, and that a special meeting of the Active members to deliberate and take ac tion on the same question be set, as it hereby is .set, for Thursday, September 6, 1923, at -1:30 p. m.” The Board thanked Associate Member Robert Hill, of the Mitsui Bussan Kaisha, for his appearance at the meeting and the information he furnished the Directors. Tuesday, September 11, 1923. Present: Directors Elser, Feldstein, Gaches, Green, Haussermann, Rosenstock, Russell. PHILIPPINE LUMBER AUSTRALIAN COAL BRICK SUGAR COPRA SHOE REPAIRS (SAME DAY OR WHILE YOU WAIT) H. R. ANDREAS 306 MASONIC TEMPLE MANILA, P. I. P. O. BOX 1483 PHONE 269 Cable Address: ‘ANDREAS” Code: “Bentley’s—Private” Heels___________ Half Soles_____ Full Soles _____ Cuban Heel (Com plete) — Cuban Heel Top Shoes called for MEN WOMEN CHILDREN Pi.00 ri.00 P1.00 2.00 1.80 1.00 3.00 2.80 2.00 2.00 .50 and delivered in Manila without extra charge. Prompt attention to Parcel Post orders. Best materials, skilled workmanship and sat isfactory service guaranteed. PHILIPPINE SHOE MANUFACTURING COMPANY 654-656 Rizol Avenue. Phone 817. Manila P. O. Box 237 October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 19 Monthly statement of accounts, as ap proved by the Finance and Auditing com mittee, was approved. The Secretary rendered a verbal report on the status of the Japanese Relief fund and the Directors decided that no further obliga tions would be undertaken until a definite report of what relief was needed was in hand. A similar decision was made with respect to the offer of aid from the Boy Scouts submitted by Col. George Seaver. A letter from N. W. Jenkins, general manager of the Manila Times, relative to the Manila Advertising Club and approv ing the sentiments expressed in an editorial appearing in the September issue of the Journal, was ordered filed and acknowl edged. Report of the Income Tax committee, composed of Active Members F. C. Fisher, S. Feldstein and L. K. Cotterman, was ac cepted and ordered laid before the next regular meeting of Active and Associate members. A letter on the same subject from President Cotterman, dated at Albion, Nebraska, August 6, 1923, was also read and added to the file. A letter from Associate Member E. J. Haberer relative to the alleged condition of Americans in the Momungan Colony, Mindanao, was directed forwarded to the office of the Governor General. Tuesday, September IS, 1923. Present: Directors Elser, Gaches, Green, Haussermann, Heath, McCoy, Rosenstock. Russell. A report of the Associate Secretary on the status of the Japanese Relief Fund was read, showing that '1*8,417.41 had been ex pended for 1,000 bags of rice up to and in cluding September 17. The Secretary re ported that a reply had been received from Admiral Marvel to the query of the Cham ber as to the actual situation in Japan, Admiral Marvel reporting" that “there is no doubt but what the Japanese have, rhe situation thoroughly in hand” and that Ca vite and Olongapo were sending no firrther supplies. The Directors therefore author ized no immediate expenditures from the Japanese Relief Fund. A letter from an Active member request ing the cancellation of the Associate mem bership of an employee, was read. It was decided that this Associate membership is individual and could only be cancelled upon request of the holder. Application of E. M. Terry for Associate membership was approved. Acting upon resolutions passed at the meeting of Active and Associate members of September 12, the Board decided that in view of all circumstances, the employ ment of counsel in connection with the in come tax question was inadvisable at this time ; that a memorandum on the income tax question be prepared by the Secretary for distribution among persons a'nd entities that might be interested; and that a vote of thanks be accorded Governor General Wood for his support and cooperation in the important matter of relief of Amer icans from income taxes under the act of 1918. The Secretary was instructed to thank the income tax committee in behalf of the Directors, also to thank Judge Wm. J. Rohde for his interesting brief on the constitutional phases of the income tax question. Tuesday, Se.ntember 29. 1923. Present: Directors Elser, Feldstein. Ga ches, Green. Haussermann, Heath, McCoy, Russell. The matter of the Japanese Relief Fund was takdn up, the Secretary reporting to tal collections of 1*26,863.21 and total exViegelmann, Incorporated, invite you to make your bookings for the trip home via Spain and Germany Monthly sailings from Manila via Singapore, Colombo and the Mediterranean Sea connecting at Hamburg by weekly sailing of the combined service of the United American and Ham burg American Lines. Manila P. O. Box 767 Tel. 2664 We PINES HOTEL F a m o u s throughout the Far East. Situated amidst the m ountains and pine trees and frost-nip ped air, away from the noise and dust of the city. You can sleep at the PINES in quiet and with limitless pure, fresh a i r. RESERVATIONS FOR THE PINES CAN BE MADE AT THE ST. ANTHONY HOTEL, Manila-Phone 378 THE LUNETA HOTEL, Manila—Phone 1970 AMERICAN EXPRESS CO., Manila-or PINES HOTEL, Baguio. 20 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 penditures of 1*8,574.79 (for 1,000 bags of rice, 1*8,417.41, and 68.079 per cent of the cost of the half gross of thermometers from Dehn and Ebsen, '**76.10, incidental expense including cable inquiring as to the fate of Active Member A. G. Henderson, 1*81.28), leaving a balance of even date of 1*18,288.42. Various reports were avail able, including a letter from Admiral George Marvel, U. S. N., stating chat die Japanese authorities were now able to cope with the situation and relief made neces sary by the earthquake and fire of Sep tember 1, 1923. The Directors therefore unanimously voted to return the unexpend ed balance of contributions received for Japanese relief by the Chamber of Com merce with thanks to the contributors. A letter from C. D. Johnston of the law firm of Block, Johnston and Grcenbaum, of Iloilo, relative to clauses in the Federal Revenue laws bearing on the question of income taxes, was referred cq the Cham ber’s General Counsel. In response to a letter from the presid ent of the Rotary Club relative to the ad visability of having a representative of the Chamber on the recently organized Boy Scout Council, the Acting President was authorized to name a*member of the Cham ber to che Council. A letter from M. H. Burnham, Jr., of Yangco, Rosenstock and Company, invit ing attention to the fact that articles on inward manifests are n't all listed in English, was read. The matter had been investigated by the Secretary, and it ap peared that exclusive use of English on inward manifests could not be compelled. The letter was ordered filed. In response to an invitation from the As sociated American Chambers of Commerce of China to attend the annual convention at Shanghai, October 16-17, 1923, the Act ing President was authorized to name dele gates from a list of members who would be in Shanghai at the time of the conven tion. In response to a letter from G. P. Mo bley requesting information as to the aims and work of the Chamber for some maga zine articles, the draft of a reply submitted by the Secretary was approved with certain changes. Communications relative to joining in the request of the Chamber of Commerce of the Philippine Islands for reestablish ment of the Court of Customs Apeals, were read. The Direcors decided not to parti cipate in the recommendation, it being their opinion that no material benefit would be derived from reestablishment of the court. Application of Harry Rosenberg for As sociate membership was approved. Frank Moffett Electrical Contractor ELECTRICAL SUPFLIES Light and Power Instal lations and Electrical Re pairs a specialty. 121 550 Avenida Rizal Tel. 559 cManila, P. 1. CHAMBER LECTURE COURSE STARTS The Chamber of Commerce has arranged a series of Sunday afternoon lectures and entertainments known as the Chamber of Commerce Lectures Course, first of which will be an exposition of the constitutional law relative to the powers and functions, respectively, of the executive and legisla tive branches of the Philippine government by Justice George A. Malcolm of the Phil ippine Supreme Court, Sunday, October 7, at 4 p. m., the regular hour for the meet ings, which gives ample time for afternoon and everting engagements following the lectures. The charge for the lectures is fifty cent avos, the proceeds going to American relief work. The project has been formally en dorsed by the American Relief Association, which assures success for it from every standpoint. Season tickets will be issued at once and sent to officers of the various organizations in the Relief Association. Members of the Chamber of Commerce and others who wish to do so may make their season arrangements through the office of the Secretary. The lectures are open to the general public. Tickets may be pur chased at the door on lecture days after 3:30 p. m. Governor General Leonard Wood says: “I shall be very glad to do what I can to help the movement on. I am very glad it is being undertaken and I think you can make it a real success.” Following is the schedule, which will also be issued in folder form with more explicit announcement for free distribution: SCHEDULE. OF LECTURES October 7 Justice George A. Malcolm Explaining the Situation October 14 Dr. H. Otley Beyer, University of the Philippines Darwin Up to Date October 21 Bishop Charles E. Locke The Best Book in the World October 28 Justice Norberto Romualdez Philippine Literature and Art November 4 Dr. N. M. Saleeby The Political Upheaval in the Near East and Its Bearing on the PaiEast November 11 Dean Jorge Bocobo, of University of the Philippines Filipino Contact with America November 18 E. H. Taylor, formerly of the Bureau of Science Heredity November 25 Dr. Gdorge William Wright, of Ellinwood Christmas in Song and Story and Mrs. Emilia Cavan and the Ellinwood Chorus Program of Sacred Music December 2 Normal Glee Club and Chorus Selected Numbers from Large Reper toire December 9 Dr. Dean S. Fansler, head of the English Department, University of the Phil ippines An Estimate of Current English Lite rature December 16 Reverend Francis X. Byrne, S. J., Pre sident of the Ateneo de Manila Boys and Their Dads {Address to Fathers and Sons) December 23 Dr. Luther B. Bewley, Director of Edu cation Agricultural and Industrial Instruction in Philippine Public Schools December 30 Dr. John B. Ferguson, Pastor of Union Church The Elders o’ the Kirk January 6 Bishop Gouverneur Frank Mosher Reminiscences of China January 13 Senator Teodoro Sandiko The “Kasama” Labor System January 20 T. H. Pardo de Tavera, Director, Philippine Library and Museum The Collector in the Philippines January 27 Dr. Luis P. Uychutin, of the University of the Philippines Chinese Family Law October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 21 « 3C » «&» jog CHAMBER NOTES *y j The month of Septembei’ has been a busy one in Chamber work. The Japanese re lief subscriptions and the income tax mat ter have occupied much time, while the work of the special committee compiling a report for the Governor General on legis lative suggestions also contributed to keep everybody busy. Preparations for the series of Sunday lectures have been goingon apace and rehearsals for the big thea trical performance for the benefit of the American Relief fund have been taking place at the Chamber quarters every af ternoon and evening. Two copies of a circular entitled "How to Use the Chamber of Commerce of the United States1' have been placed in the library and marked for convenient refe rence. It says in part: "The properly vouched-for group of bus iness men from a foreign country receives the heartiest kind of welcome from the chambers of commerce, the trade associa tions, the civic and commercial clubs in all of the business centers of the United States. If their coming is known in ad vance, entertainment and arrangements :'or business talks at business institutions are frequently arranged. . . If you know of any delegation of business men from your country that is going to visit the United States, you can do them a great favor by communicating with us at as early a date as possible... We pass the word along to commercial centers on their itinerary and this enables the local organizations to arrange a really suitable program. Simi larly in the case of individual travelers.” This Chamber of Commerce is availing itself of the invitation thus extended. When a member leaves for the United States, notification as to his probable stay, cities he intends visiting, his permanent address in the States, etc., is sent to the United States Chamber at Washington. To make this service more valuable and ef fective, members are requested to inform the Secretary as early as possible after their plans for visits to America have been made. Director S. F. Gaches, Treasurer of this Chamber, who returned in September from a brief visit to the United States, found a great deal of interest among business men and others in business information about the Philippines. He traveled widely, speaking with great success to Rotary and Kwanis clubs, chambers of commerce and boards of trade, meeting and conversing with leading men in large and small cen ters. Such contacts once formed are last ing. The number of requests for information and similar service from the Chamber of Commerce is increasing. The reference library of the Chamber is also being aug mented and requests have been made to the various bureaus of the government, notably the Bureau of Science and the Bureau of Forestry, for their publications in pamphlet form. They will be bound into reference volumes .and indexed. With the occupation by the Manila In surance Club of the two vacant rooms on the main floor, all available space in the building is rented with the exception of some space in the lobby, which might be let for certain small-shop purposes. The Chamber acknowledges with thanks a fine view of Pagsanjan Gorge presented by Denniston, Inc., also a view of Mount Santo Tomas presented by Leo K. Cotter man. Such pictures materially add to the appearance of the Chamber’s rooms and more can be utilized. It Is especially desired to have photographs of- factories, industrial plants, sugar mills, etc., pro perties of members of the Chamber. With due authorization, the Secretary will at tend to having these pictures enlarged and framed. A prominent visitor to the Chamber re cently was James H. Patten, of Washing ton, D. C„ who is making a trip through the Far East, accompanied by Mrs. Patten EVERY SCHOOL NEEDS THE OFFICAL 1 922-1 923 RULES AND HANDBOOK OF THE PHILIPPINE AMATEUR ATHLETIC FEDERATION CONTAINS the Constitution of the Philippine Athletic Federation, and the National Amateur Athletic Federation of America, gives pointers on Track and FieldTraining, suggestions and information about basketball, write-ups on tennis, swimming, volleyball, etc.; has the official rules for games; lists Philippine, Far Eastern, and World records; tabulates results of important athletic games, shows how to score for clars athletic contests and how io run tennis tout naments; gives pictures of famous Filipino and Foreign athletes and is full of other valuable and interesting information and instructions. Two pesos [plus P0.J4 postage} will bring you your copy. THE TIMES PRESS SENSIBLE PRINTING AT SENSIBLE PRICES COSMOPOLITAN BLOG. MANILA. P. I and picking up information for future use. Mr. Patten is a lawyer and publicist. He is general counsel of the Farmers’ Educa tion and Cooperative Union of America, former president of the Harvard Gra duate Club and former chairman of the American Purity Federation, of which he is now assistant legislative superintendent. Mrs. Patten is a daughter of former Sen ator A. C. Latimer of South Carolina. The Silver Jubilee (Occupation Day) number of the Journal has proven very popular and those desiring a copy should buy one before the reserve supply is ex hausted. Orders and requests are being received by almost every mail. Colonel Joseph N. Wolfson is back jn Manila after an eight months’ absence in Europe and the United States. 22 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 HOME SERVICE 13. Furnish cl<: 14. Investigatio 15. Writing let 16. Folic-wing-u 17. Identif icatic uruuLitalioTi of beneficiaries of the U. S. Veterans Bureau to the banks ■®e Philippine Guaranty Company, Inc. (Accepted by all the Bureaus of the Insular Government) Executes bonds of all kinds for Customs, Immigration and Internal Revenue. DOCUMENTS SURETYSHIPS For Executors, Administrators, Receivers, Guardians, etc. We also write Fire and Marine Insurance Liberal conditions ocal investments oans on real estate repayable by monthly or quarterly instalments at ow interest Call or write for particular* Room 403, Pilipinas Bldg. P. O. Box 128 Manila, P. I. Manager’s TeL 2110 Main Office Tel. 441 lk. Preparing l-equc'sts for certificates in lieu of lost or destroyed service discharges or The regular weekly luncheon gatherings during September were all well attended. On Friday, August 31, William H. Gar diner, vice president of the Navy League and a well-known writer and lecturer, spoke on some naval problems in relation to the Philippines. His remarks, though highly interesting, cannot be reproduced here. On Wednesday, September 5, Director Samuel F. Gaches summed up his obser vations on business conditions during his recent trip to the United States. He said that business in the United States is al most as prosperous as it was in 19191920. American manufacturers, he stated, do not as a rule seek foreign trade, as tl\e home demand can take care of their pro ducts. About 50% of those interviewed were not interested in foreign trade, 25% were indifferent and 25% interested. Labor is scarce and wages high with the laboring man ever clamoring for more, though he does not render commensurately increased services. The American farmer’s condi tion is bad, with the price of wheat very low. The farmers and laborers are join ing in a movement, the effect of which upon American political life is problema tical. The people of the United States, es pecially in the smaller centers, are display ing a live interest in the Philippines, Mr. Gaches reported. The September 12 luncheon was devoted to a discussion of the income tax ques tion, a summary of which appears else where in this issue. On Wednesday, Sep tember 19, there was no luncheon, owing to the inability of the scheduled speaker to be present. BABCOCK & TEMPLETON IMPORTERS AND EXPORTERS MANILA, P. I. Lack & Davis Building Phone 563 HEMP, MAGUEY, COPRA PHILIPPINE PRODUCTS Branches Offices: Cebu San Francisco New York E. M. SHELTON, JR., acting manager The meeting of Wednesday, September 26 discussed the matter of American re lief, in connection with the benefit per formance to take place end of this month. Colonel Gordon Johnston, of the Governor General’s staff, announced the establish ment of the American Relief Association, designed to centralize and systematize the relief ■ activities of the American com munity. After a prolonged discussion in which many members participated, the following resolution, proposed by Judge F. B. Ingersoll, was unanimously adopted: The Directors of the American Relief Association, representing the principal American organizations in Manila, are all either Active or Associate members of the American Chamber of Commerce. STATEMENT OF OWNERSHIP, MAN AGEMENT, CIRCULATION ( ETC. (Required by Act No. 2580 of the Philip pine Legislative.) Title of Publication: American Chamber of Commerce Journal. Period of Issue: Monthly. Managing Editor: Norbert Lyons, c/o American Chamber of Commerce, Manila. Advertising Manager: H. L. Kriedt, c/o American Chamber of Commerce, Manila. Publisher: American Chamber"of Com merce of the Philippine Islands. Owners or stockholders holding 1 per cent or more of interest, stock, bonds, or other securities: American Chamber of Commerce of the Philippine Islands. NORBERT LYONS, Managing Editor Celuda No. F40226 issued at Manila March 28, 1923. Subscribed and sworn to before me this 29th day of September, 1923. EWALD E. SELPH, Notary Public, r, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 23 INTERNATIONAL BANKING CORPORATION CAPITAL (Paid in cash) AND SURPLUS U. S. $10,000,000 UNDIVIDED PROFITS U. S.................................$ 5,450,000 (Owned by The National City Bank of New York) HEAD OFFICE: 60 WALL ST., NEW YORK London Office: 36 Bishopsgate, E. C. Lyons Office: 27 Place Tolozan San Francisco Office: 232 Montgomery St. BRANCHES: CHINA: Canton, Dairen, Hankow, Harbin, Hongkong, Peking, Shanghai, Tientsin DOMINICAN REPUBLIC: Barahona, Puer to Plata, San Pedro de Macoris, Sanchez, Santiago, Santo Domingo, San Francisco de Macoris, La Vega. FRANCE: Lyons INDIA: Bombay, Calcutta, Rangoon JAPAN : Kobe, Tokyo, Yokohama JAVA: Batavia, Sourabaya PANAMA: Colon, Panama PHILIPPINE ISLANDS: Cebu, Manila SPAIN: Barcelona, Madrid STRAITS SETTLEMENTS: Singapore BRANCHES OF THE NATIONAL CITY BANK OF NEW YORK ARGENTINA: Buenos Aires, Rosario BELGIUM: Antwerp, Brussels BRAZIL: Pernambuco, Rio de Janeiro, San tos, Sao Paulo CHILE: Santiago, Valparaiso CUBA: Havana and 22 branches ENGLAND: London. City Branch, West End Branch FRANCE: Paris ITALY: Genoa PERU: Lima PORTO RICO: Ponce, San Juan RUSSIA: Moscow, Petrograd, Vladivostok (Temporarily closed) URUGUAY: Montevideo, Calle Rondeau (Montevideo) VENEZUELA: Caracas COMMERCIAL AND TRAVELERS’ LETTERS OF CREDIT ISSUED. BILLS OF EX CHANGE AND CABLE TRANSFERS BOUGHT AND SOLD. CURRENT ACCOUNTS OPENED AND FIXED DEPOSITS TAKEN ON RATES THAT MAY BE ASCERTAINED ON APPLICATION TO THE BANK. SPECIAL SAVINGS ACCOUNTS FOR DEPOSITS FROM -P-1.00 UPWARD, BEARING INTEREST AT 4% PER YEAR W. D. WHITTEMORE Manaricr, Manila Pacific Building, Corner of Calle Juan Luna and Muelle de la Industria 24 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1923 SHIPPING NOTES SHIPPING REVIEW J. T. Kinney, Manila Agent, Struthers and Barry According to recent advices, the Robert Dollar Steamship Company has pur chased seven of the 502 type steamers from the United States Shippink Board, which will be used on the “round-the-world” run. It is rumored that the President Hayes, formerly the Creole State, will inaugurate this new service, leaving San Francisco about November 1. The recent disaster at Yokohama has caused shipping and all business in general to be practically at a standstill in Kobe. However, it is believed that the month of October will see shipping business resumed from the port of Kobe as heretofore. II. M. Cavender, General Agent for the Admiral Oriental Line, is sailing on the President McKinley for vacation. T. B. Wilson, formerly General Agent for the Admiral Oriental Line at Singapore, suc ceeds Mr. Cavender. J. T. Kinney, Agent for the Philippine Islands for Struthers and Barry, has just returned from a three weeks’ business trip to the head office of the Orient at Shang hai. A. G Henderson, formerly Agent of the Frank Waterhouse Steamship Company at Manila and who was in Yokohama at the time of the earthquake, was fortunate enough to escape and is now in Shanghai. He expects to visit Manila during the lat ter part of October or early November in behalf of his principals, the Great North ern Railroad. The Shipping Board steamer Bearport. which was recently turned back to the Ship ping Board after having been operated in the trans-Pacific service under the manage ment of Struthers and Barry, has been al located to the Puget Sound Trans-Pacific service of the Admiral Oriental Line for October loading from Seattle. To aid in solving the problem of the Shipping Board fleet, an Advisory Board consisting of Herbert Hoover, Secretary cf Commerce, Andrew Mellen, Secretary of the Treasury. Senator Wesley L. Jones of Washington, Chairman of the Senate Com merce Committee, and Representative Wil liam Green, Chairman of the House Marine Committee, has been named by President Coolidge. The President is expected to form,his shipping policy from the recom mendations of these advisors. BIG SHIP COMPETITION ON THS PACIFIC There is considerable feeling in Japan concerning the ships that cross the Pacific, says the Japan Chronicle. The Canadian Pacific boats and some of vhe American boats are both faster and give better ac commodation than the Japanese, and it is felt that this is not as it should be, and there is a constant agitation for the con struction of vessels, with government as sistance and guarantees, that shall hold their own against the best of the Empres ses afid Presidents. According to the Mainichi the Department of Communications is considering the strengthening of the ser vices to both North and South America. NORTH AMERICAN LINE HONGKONG TO SAN FRANCISCO Steamer Hongkong Shanghai “Korea Maru” Oct. 17 Oct. 20 Nov. 13 “Tenyo Mani’’ Oct. 27 Oct. 30 Nov. 23 “Siberia Maru” Nov. 28 Dec. 1 Dec. 27 “Talyo Maru” Dec. 13 Dec. 16 Jan. 9 MANILA TO SAN FRANCISCO (Via Keelung and Shanghai) Steamer Leave Leave San FranManila Shanehai cisco “Shinyo Maru” Nov. 19 Nov. 23 Dec. 17 Kfeiy First class tickets interchangeable at all ports of call with Pacific Mail, Canadian Pacific and Admiral Lines. SOUTH AMERICAN LINE ‘•Anyo Maru” Oct. 20 Nov. 3 .Tan. 7 For Faaaenger and Freight Information Apply to Toyo Kisen Kaisha Chaco Bldg. Phone 2075 October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 The Nippon Yusen Kaisha, it is stated, had under consideration for some rime the construction of a fleet of 20,000 ton ves sels, which would lead in size, but after a consideration decided that the best type of ship for the North Pacific is the Empress of Russia, of 16,000 tons net. With four vessels of 17,000 tons on the northern route, the company believes that it need never yield place to any rivals. With chese a fortnightly service at eighteen knots could be maintained. The steamers the company has in view will be equipped with Diesel engines. The Osaka Shosen Kaisha’s plans are to construct vessels of 7,500 tons type pro perly arranged for the emigrant trade. Five steamers would be the ideal number, but even four vessels would be sufficient. The number of voyages is eight a year with a fleet of four steamers, and ten a year with five vessels. With a speed of 15 knots they could reach South America in about 45 days, making the voyage in much less time than at present. These steamers are also to be equipped with Diesel engines. In answer to inquiries from che Depart ment of Communications regarding their estimates of construction, running expen ses. subsidies, etc., the replies were ap proximately as follows: N. Y. K.—The expenditure on the con struction of the four steamers far exceeds Y40,000,000 but if it is possible to borrow the amount from che Finance Department at the rate of 4.8 per cent interest, the company desires to have a subsidy of Yl,000,000* per ship, or Y4,000,000 for four vessels. The amount will be appropriated to depreciation, repairs and insurance of the ships, in which no expenses of running the vessels are included, the company ex pecting that the expenses of the steamers can be covered by freight revenue. O. S. K.—The expenditure on the con struction of the four vessels will exceed Y 10,000,000. Being chiefly for the trans port of emigrants to South America, no big freight revenue can be expected, and consequently losses will gradually increase, and therefore the Company wishes to have a subsidy of Y300.000 per year. SECURE YOUR BANK CREDITS BY LIFE INSURANCE POLICY IN THE WEST COAST LIFE INSURANCE CO. It will facilitate busi ness, and protect both your bankers and your selves. J. NORTHCOTT Co., Inc. GENERAL AGENTS MANILA 26 THE AMERICAN CHAMBER OF COMMERCE JOURNAL r, 1923 STATISTICAL REVIEW “BEST PRESIDENTES” Get acquainted with the “Best Presidentes,” better, bigger than the rest of Presidentes and, at a lower price. Compare them, size for size, with any brand. Made by hand with long filler. A smoke for health as well as pleasure. A luxurious cigar you can afford to smoke every day. Retailing at 10 centavos each. Box of 100 P8.5O. Ask at all first class cigar stands. (=) (^Manufactured by’ LA FLOR DE LA ISABELA October, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 27 28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October. 1923 BUSINESS AND PROFESSIONAL DIRECTORY B. A. GREEN REAL ESTATE Improved and Unimproved City, | Suburban and Provincial I Properties Expert valuation, appraisement and reports on real estate Telephone 507 34 Eacolta Cable Address: “BAG” Manila Manila Philippine Islands Philippines Cold Stores Wholesale and Retail Dealers in American and Australian Re frigerated Produce, STORES AND OFFICES CALLE ECHAGUE. MANILA. P. I. Derham Building Phone 1819 Manila P. O. Box 2103 Morton & Ericksen Surveyors AMERICAN BUREAU OF SHIPPING MARINE AND CARGO SURVEYORS SWORN MEASURERS Cable Addre-s: ’r-'e)»l><>n<- 1 !>2 1 •ToritVAXT." Manila P. O. Box 2106 C. B. STURTEVANT Pl'Bl.IC CARGO CHECKER work eai'efc'llT "nd < v W. W. LARKIN Member American Institute of Accountants Cable Address—“Clarlar.” Masonic Temple, Manila. STURTEVANT’S Philippine Tourist Agency Room <1 Derham Buildintr. Port Area Cable Address: •TOIRVAXT” HANSON & ORTH BUYERS AND EXPORTERS of Hemp and Other Fibers 301-305 Pacific Bldg. Telephone 1840 The Bailey Stevedoring Co , Inc. Stevedores Compradores and Salvage Contractors Phone I 16 DERHAM Bl'ILDING p. <>. Box .’.17 Water Ek.nt, Aduana Telephone 1669 P. O. Box 1431 Hashim-Franklin Car Co. Hashim Bldg. 883-885 Rizal Ave. AUTOMOBILE ACCESSORIES, SUPPLIES AND REPAIRS MADRIGAL & CO. 113-121 Muelle de Binondo, Manila COAL CONTRACTORS COCONUT OIL MANUFACTURERS MILL LOCATED AT CEBU MANGOSTEENS PRESERVED GUANrjdo .101.0 M. Y.SAN&CO. Hours: 9-12, 3-6 Tel. 557 A. M. LOUIS X-RAY LABORATORY 305 Roxas Bldg., Manila, P. I. Escolta, Corner Calle David JULIUS MARGELIN WATCHMAKER & JEWELER The American Gregorio M. Cansipit CUSTOMS BROKER 3 Plaza Cervantes Room 5 Phone 803 ]>. O. Box io GEO. GERLACH Ofli.es: 76 Eseolta and Teleph me 23 No, 7 Calle Soda MANILA Chamber of Commerce Journal Is a businessman’s paper representing the American in the Philippines F6.00 per year “One good mother is worth a hundred school masters” Herbert This is true the world over, but in many cases the mothers, even though they are ever so willing, do not know what is best for their babies. With the idea of teaching the mothers the proper care of themselves, their babies and their homes, the Red Cross and the Public Welfare Board have jointly established many Puericulture Centers which are doing a wonderful work. Red Cross nurses in many localities are teaching mothers by actual precept and example right in their own homes the things they should know. This work is of great value to the future of the Philippines. It means a lowered death rate among babies, healthier and happier children and stronger and more robust men and women for the future, WELL WORTH WORKING FOR ISN’T IT? WON’T YOU HELP? THE RED CROSS Philippines Chapter BESSEMER C RUDE OI L ENGINES 15 H. P. to 180 H. P. In mills, factories and mines, in irrigation and reclamation pro jects, electric plants, in any place requiring power, the BES SEMER Oil Engine performs the work economically and depend ably. Choose the BESSEMER—the Engine with a Crosshead, which takes the wear that otherwise falls on the cylinder and piston. MACLEOD C& COMPANY, INC. EXCLUSIVE AGENTS MANILA ILOILO CEBU VIGAN The Wisdom of Buying by Name Not one man in ten thousand is able to judge a tire by its looks, its weight, its feel, or any other surface indication. The only dependable way to be sure of getting your money’s worth is to buy your tires by name. Behind the name “Goodyear” is a quarter of a century of reliable and economical performance—the finest record of tire service in the world. Let that name be your guide in buying tires —it is the greatest assurance you can have of a square deal, fair prices, and full satisfaction. Goodyear Means Good Wear.