The American Chamber of Commerce Journal Vol. 3, No.12 (December 1923)

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Part of The American Chamber of Commerce Journal

Title: The American Chamber of Commerce Journal Vol. 3, No.12 (December 1923)
Issue Date: Vol. 3, No.12 (December 1923)
Year: 1923
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extracted text: Chamber Declares for Permanent Organized Territory American Rule To Solve Moro Problem Terrible Political Chaos in China New Copra Dryer Proves Successful American Chambers of China Approve Income Tax Resolution Independence Far Off Editorials Review of Business Conditions for November Shipping Review Statistical Review Other Articles of Interest to Business Men ORR C& SEMBOWER of uh&dlphia BOILERS ENGINES and HOISTS An unusually Sturdy and dependable line. Built to Endure under use or abuse. L. M. HAUSMAN C& Co. IMPORTERS and DEALERS CABLE ADDREEL MICH ELM AN-MAN ILA E. O. BOX 1729 PHONE 2363 Machinery and Allied Products 11 Calle Pinpin. Manila QUALITY CHARACTER MILDNESS The trade wants it Because it sells. The smoker wants it because: It is mild It is aromatic It is uniform in quality The ESPECIALES EXPENDIO’’Cigar MADE BY TABACALERA CIGAR STORE KfTD X DVVV7 _ < December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 1 CALL AT MANILA WILL BE RESUMED COMMENCING MARCH 29TH, 1924 EMPRESS OF AUSTRALIA--EMPRESS OF CANADA EMPRESS OF RUSSIA — EMPRESS OF ASIA REGULAR SERVICE TO CANADA, UNITED STATES AND EUROPE VIA HONGKONG, SHANGHAI, JAPAN AND VANCOUVER CANADIAN PACIFIC RAILWAY COMPANY AGENTS 14-16 Calle David MANILA, P. I. Phones 656-657 CHRIS TM AS NE W*YE ARj Insular Drug Co. 132 Juan Luna, Manila YOU W E For the Coming Holidays will always get the best of everything when you buy from the store that is supplied with FRESH GOODS. carry a full line of goods to satisfy our Customers and our prices always satisfy. we have a Special Assortment of Fancy Imported Groceries. American Non-Pareil Almonds— (Pa per Shelled). Filberts—Brazil Nuts and Pecan Nuts. Pickled Fruits, Cluster Raisins, Dates, Figs, Candied Citron, Orange Peel, Lemon PeelFresh Fruits—Smoked Meats—Butter—Cheese. Also a full line of Liquor and Sparkling Wines— Don’t forget to ask for OLD OSCAR PEPPER. CANDIES—CHOCOLATES DELIVERY is made to any part of the Islands. WE WANT YOUR TRADE’ PHONE A PHONE 2 100 J-JJZL/ATN O 2 10 1 349 ECHAGUE, MANILA WHOLESALE DRUGGISTS We carry full stocks of Drugs, Chemicals, Drug gists’ Sundries, Bottles, Perfumes and Toilet Articles. Prices on Request Agents for H. K. Mulford Company Philadelphia Serums, Serobacterins, Etc. THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 192.1 ASIA BANKING CORPORATION AN AMERICAN INSTITUTION CAPITAL $4,000,000 HEAD OFFICE: 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 Fed eral Reserve Board. HEAD OFFICE AND BRANCHES: Head Office, 35 Broadway, New York CANTON HANKOW HONGKONG MANILA PEKING SAN FRANCISCO SHANGHAI TIENTSIN YOKOHAMA 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. WAS HI NCTON ENGINES Osaka Bazar Our JAPANESE TOYS make the KIDDIES’ XMAS MERRY We have rare SILK KIMONOS for the grown-ups Your Xmas Shopping is never complete without a visit to us. We have many Novelties never before dis played in Manila 332-346 Echague Phone 216 American 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 OPFICE AT MANILA, P. I. LOCAL SUBSCRIPTION—P6.00 PER YEAR. FOREIGN SUBSCRIPTION »3.60, U. S. CURRENCY, PER YEAR. SINGLE COPIES—FIFTY CENTAVOS NORBERT LYONS. Editor W. B. ALLEN, Advertising Manager Walter Robb, Secretary A. Schipull, Assistant Secretary E. E. Selph, General Counsel C. M. Cotterman, President E. E. Elser, Vice-President S. F. Caches, Treasurer EXECUTIVE: C. M. Cotterman, Chairman E. E. Elser S. F. Caches PUBLICITY: C. M. Cotterman,Chairman (II. L. Heath, E. E. Elser H. B. Pond Norbert Lyons FINANCE AND AUDITING: C. W. Rosenstock B. A. Green HOUSE: Vacant STATISTICS AND INFORMATION: B. A. Green, Chairman J. C. Patty BOARD OF DIRECTORS (absent) II. L. Heath It. A. Green C. W. Rosenstock ALTERNATE DIRECTORS: H. It. Pond (nbsent) J. IV. Hnussermann I’. A. Meyer George II. Fairchild COMMITTEES INSURANCE AND FIRE PROTECTION: E. E. Elser, Chairman S. Feldstein MANUFACTURING AND LOCAL INDUSTRIES: F. N. Berry, Chairman F. H. Hale Leo. K. Cotterman BANKING. AND CURRENCY: Carlos Young W. D. 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 Julius Reis (absent) S. Feldstein John J. Russell FOREIGN TRADE: J. S. Reis, Chairman M. M. Saleeby 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 Col. Gordon Johnston, Vice-Chairman W. J. Odom E. E. Elser Knowlton Mixer Harry J. Morgan R. Zeininger A. Schipull, Agent MANILA. P. I. CONTENTS FOR DECEMBER, 1923 VOLUME 3 NUMBED 12. Page Chamber Declares for Permanent Organized Territory.. 5 New Copra Dryer Proves Successful............................... 6 Builders Protest Against Building Fee Tax Increase.. G Pictures Terrible Political Qhaos in China..................... 7 American Rule Will Solve Moro Problem..................... 8 Independence Far Off, Says Judge Ostrand................. 8 American Chambers of China Approve Income Tax Stand ................................................................................ y Elser Congratulates Beck’s ................................................ 9 Chamber Notes .................................................. 10 With the Board of Directors............................................ 10 Ways to Kill an Association............................................ 11 New Incorporations ........................................................... 11 Editorials: Territorial Government .............................................. 12 The Philippine-American Chamber of Commerce... 12 Signs of Improvement ................................................ 13 A Splendid Record ...................................................... 13 An Unwise Measure .................................................... 13 The American Relief Fund ........................................ 13 Page Review of Business Conditions for September: Exchange (By W. D. Whittemore)......................... 11 Iron and Steel (By Chas. A. Clark)......................... 14 Sugar (By George H. Fairchild)............................. 15 Hemp (By J. C. Patty)................................................ 16 Tobacco (By an Active Member)............................. 17 Rice (By Percy A. Hill)............................................ 17 Real Estate (By P. D. Carman)............................... 18 Lumber (By A. F. Fischer)..................................... 18 Copra (By E. A. Seidenspinner)............................. 10 Schedule of Meetings ........................................................ 20 Shipping Notes ................................................................... 22 Enabling Act Resolution..................................................... 23 Statistical Review: Market Quotations by Months ................................. 26 Government Financial Report (By Ben F. Wright) 26 Imports and Exports From and To Atlantic and Pacific Ports by Nationality of Carrying Vessels 26 Principal Exports ...................................................... 27 Principal Imports ........................................................ 27 Port Statistics ............................................................. 27 Carrying Trade, Imports' and Exports........................ 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 cf 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 tq the -Batanes. The- organization of branches in all the American communities of the Asiatic CoaBt is being stimulated. 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 Philippine-American Chamber pf Commerce and the Manila Chamber of Commerce.. THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 IT IS A CAPITAL Connell Bros- Co. IMPORTERS CABLE ADDRESS: TELEPHONE 431 *CARBA” CODES: P. O. BOX 666 BENTLEY’S ABC 6th EDITION Specialists in Cigar Labels, Bands, Trimmings, Posters, Maps, Labels for Canned Goods, Perfumes, Dry Goods, etc. Carmelo & Bauermann, Inc, Lithographic Co., Manila, P. I. X’mas Specials s J Fresh Fancy CHOCOLATES Fresh HARD CANDY of ALL KINDS Fresh FRUIT and NUTS CRANBERRIES For a FULL enjoyment of X’MAS and NEW YEARS call or phone the CALIFORNIA GROCERY CO. 211 Calle Echague Phone 18 EVERY SCHOOL NEEDS THE OFFICIAL 1 922-23 RULE 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 Field Training, suggestions and information about basketball, write-ups on tennis, swimming, volley ball, etc.; has the official rules for games; lists Philippine, Far Eastern, and World records; tab ulates results of important athletic games, shows how to score for class athletic contests and how to run tennis tournaments, gives pictures of famous Fili pino and Foreign athletes and is full of other valua ble and interesting information and instructions. Two peso* (plus pottage) will bring you your copy. THE TIMES PRESS SENSIBLE PRINTING AT SENSIBLE PRICES COSMOPOLITAN BLDG. MANILA L'*<i Chamber Declares For Permanent Organized Territory By unanimous vote, the Active and As sociate members of the American Chamber of Commerce of the Philippine Islands on Wednesday, November 14, at a regular semi-monthly meeting of members at the Chamber’s quarters passed resolutions call ing upon Congress to revoke the Jones Bill and enact in its place an enabling act es tablishing the Philippines as a permanent organized territory of the United States, and instructing the Board of Directors to formulate such an enabling act, subject to discussion by the Chamber membership at large, embodying the Chamber’s specific ideas on the subject. Meeting Well Attended The meeting, which was well attended, was presided over by Acting President E. E. Elser, who delivered a short address setting forth the considerations that ac tuated the Directors in presenting the ter ritorial government resolutions for the ap proval of the members. The following Ac tive members were represented: A. L. Ammen; Atkins, Kroll and Com pany; Benguet Consolidated Mining Com pany; S. M. Berger and Company; Clark and Compariy; Columbian Rope Company; El Dorado Oil Works; E. E. Elser; S. F. Gaches; Getz Brothers Company; Goodyear Tire and Rubber Company; Hale Shoe Company; Hanson and Orth; Herbert L. Heath; Kneedler Realty Company; Koster Company; Los Angeles-Pacific Navigation Company; Paul A. Meyer; W. J. Odom; Orient Trading Company; Philippine Ace tylene Company; Philippine Manufactur ing Company; Port Banga Lumber Com pany; Portland Cordage Company; Russell and Company; The Times Company; Tubbs Cordage Company; United States Shoe Company; Welch, Fairchild and Company. Elser’s Speech In presenting the territorial government resolution, Mr. Elser said: . THE RESOLUTION Whereas American Chamber of Commerce of the Philippine Islands in general meeting assembled, did upon August 14- 1920, adopt the fol lowing resolution:— “Whereas the present status of the Philippine Islands is undesirable; “Be it resolved by the American Chamber of Commerce of the Philip pine Islands that a territorial govern ment. under the sovereignty of the United States is desirable;” and Whereas the political situation has grown steadily worse since that time, finally culminating in open opposition to the sovereignty of the United States, as ivell as open opposition to the representative of that sovereignty, the duly appointed Governor General of these Islands, and the public ut terance of disloyal statements on the part of public officials and political leaders; therefore Be it resolved that this Chamber of Commerce in general meeting does re iterate the resolution adopted upon August 14, 1920, and calls upon the Congress of the United States to pass legislation revoking the Jones Act (Act of Congress of August 29, 1916) and instituting in its place an en abling act establishing the Philippine Islands as an organized territory of the United States, and proclaiming in said act the permanency of said Phil ippine Islands as such organized ter ritory under the sovereignty of the United States. “Gentlemen: On August 14, 1920, when the political situation in this territory and particularly, perhaps, in Manila, seat of the insular government, was seriously af fecting American business, this Chamber of Commerce passed a resolution asking for the creation of the Philippines into an or ganized territory, a step which would—and will, when taken—make American sover eignty over this United States territory permanent. The energies of the Legislat ure, now so largely wasted in appeals to the Congress to do what that body has no power to do, viz., withdraw American so vereignty from this territory, could then be directed into channels proper to such a body. “Much study has since been devoted to the fundamental laws affecting the Philip pines, including the Jones law, or organic act, which is our present constitutional document; and we now know, and have a careful memorandum of, the laws and pro clamations of local origin that conflict with this law—which is, in some of its phras eology, ambiguous—or that infringe upon its clear provisions. We know that there has been constant pervertive effort by the Legislature, until two years ago aided by the Governor General, to create a govern; ment here of so-called parliamentary form —something that we also know now Con gress never intended. We know these ef forts were actually successful, until, in attempts to carry this subversive purpose still further and reduce the Governor Gen eral to a figurehead, the element respon sible for the policy made a move (in the Council of State resignations, and the threat to the Governor General) disastrous to their cause. “They made it necessary for the Governor General to redeem and exercise strictly much of his forfeited power; but this has been followed by the announced policy of non-cooperation, and the attack upon the Governor General, all upon false ground, made with the public in the United States and the administration in Washington. cXny owner will tell you that for pleasure, conve nience, utility, service and economy, the Ford FourDoor Sedan is, without exception, the greatest value of any enclosed motor car ever built. Manila Trading & Supply Co. CAlanila Iloilo Cebu THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 Time For Change Has Arrived “Pursuing this policy the Legislature has but added proof, if more were indeed need ed, of the unsatisfactory type of govern ment existing here—which sets every leg itimate public purpose aside to adhere to the secession policy of its partisans. Ar gument of this point would be mere con sumption of time. “It has been felt that the time has come for this community to petition Congress to establish a government here based upon its national viewpoint, twenty-five years of government from the viewpoint of a por tion of the inhabitants of the territory hav ing ended in an impasse which cannot con tinue. Were it to continue it would achieve sheer anarchy, the culmination of a mad political dream, the chaos to which we are very rapidly tending in the affairs of gov ernment in this territory. “The Directors have therefore formulated a petition, in extenso, in the form of reso lutions of which copies have been furnished to this meeting, and it is proposed to sup plement these resolutions with a draft of the Jones Law amended into an enabling act establishing the organized Territory of the Philippine Islands. “Gentlemen, you have the question be fore you. If anyone were to say that this action is hasty, he would be mistaken; and if he were to say that little thought had been expended upon it, again he would be mistaken. The Directors have one and all carefully given attention to this whole mat ter, and had the highest advice, ever since the resignation of the Council of State pre cipitated the issue and drew the lines of contest so squarely. New Copra Dryer Proves Successful A practical demonstration of a newlyinvented copra dryer which has demon strated its usefulness in actual operation was made by P. I. Wester, horticulturist of the Bureau of Agriculture, at the reg ular weekly luncheon of the Chamber of Wednesday, November 7. Mr. Wester in a brief talk described the process, illustrat ing it with a dryer that had been specially brought to the Chamber for demonstration purposes. The machine is the invention of H. J. Detrick, manager of the Polo and Pamplona coconut plantations of Tan jay, Oriental Negros. Mr. Wester said: Faulty Methods Costly “Coconut growing is the third most im portant agricultural industry in the Philip pines. There are approximately 450,000 hectares planted to coconuts which last year produced 5,800,000 piculs of copra (one pi cul equals 133 1/3 lbs.) worth 1*44,000,000. In 1911, Dr. Pratt of the Bureau of Science, who was sent to Ceylon to study the methods of making copra there, estimated that as compared with Ceylon copra, because of faulty methods in preparing Philippine co pra, this country was losing money at the rate of some 1*4,100,000 annually. “Since that time production has almost trebled. With due allowance for improve ment in our copra during the past twelve years, it is estimated that there is now an annual loss of 1*9,000,000 to this country because of the inferior copra produced. Since the inferior quality of copra is large ly due to poor methods of drying, it fol lows that the introduction of better methods of drying is much to be desired. In the Polo dryer we have a very distinct ad vance. “The Polo copra drier was invented in 1922 by Mr. H. J. Detrick, managei- of the Polo and Pamplona coconut plantation, Tan jay, Oriental Negros, and has been in ope“We hold that neither the Treaty of Pa ris that ended the war with Spain and ceded the Archipelago to the United States, nor the Constitution, wherein Congress is given general powers over the United States pub lic domain, embraces authority of Congress to alienate the sovereignty of the United States from territory over which the flag has been raised. “Petitions to Congress to this end are therefore vain, and governments devoted to that purpose, the purpose of secession, are obnoxious.’’ Active Member Gaches spoke briefly on the resolution and he was followed by Ac tive Member George H. Fairchild, who stat ed that the preamble was at the root of all the dissatisfaction over the Jones Bill As sociate Member Julian A. Wolfson explain ed the desirability of unlimited debate on the resolution and Chairman Elser assured the members that every possible opportun ity would be given those present to present their viewpoints. Active Member H. L. Heath, ex-president of the Chamber, spoke in favor of the re solution, stating that it expressed briefly about all that could be said for the imme diate purpose desired. Others who spoke were Active Members M. M. Saleeby and John W. Haussermann and Associate Mem bers N. M. Saleeby, J. W. Ferrier, E. M. Gross and H. W. Foster. After considerable debate, the resolution as originally intro duced, with the change of only one word, was unanimously passed. Captain Heath then introduced the reso lution providing for the formulation of an enabling act, which was also unanimously approved. ration for more than a year. During the time it has been in use it has given such satisfactory results that it is planned to install other driers of the same type on these plantations, as more and more coconut trees come into bearing. Another American company, after investigating it, has also decided to install a Polo dryer at its planta tion in Albay. Cheap First Cost “I saw this dryer for the first time in September at the Polo coconut plantation and it appealed to me at once as one of the two best copra dryers adapted to Philippine conditions that I had seen. It is of simple construction, and has no intricate machinery liable to get out of order, a very valuable feature where skilled engineers are diffi cult to obtain, and it naturally lowers ope rating expenses in that ordinary labor can be used in operating the Polo dryer. The cost of construction is only i*l,100, includ ing 50 extra trays for use in reloading. “I spent several days at the Polo planta tion and the more I saw of it the better I liked the dryer, and so when Mr. Detrick showed me the model now before you, I asked if he would loan it to the Bureau of Agriculture for exhibition purposes. After some delay it arrived in Manila a short time ago. “The dryer now in operation at tlie Tolo plantation consists of a bcx-like chamber made of one-inch boards lined with galvan ized sheet iron on the inside. This cham ber has five sections similar to the model now before you, except that they are sev eral times larger. Each section has a tier of 10 trays on which the coconut meat is placed for drying. The trays filled with the raw meat are inserted through a door at the top and, as the drying proceeds, are gradually lowered by means of an ingenious device, as tray after tray of dry copra is removed through the door at the bottom of the drier. Invention Available To Public “The heat is generated in a furnace and an ordinary steam boiler, from which the tubes have been removed, placed below the drying chamber, and the hot air passing upward through the trays carries off the moisture. Coconut husks and shell are used as fuel. “The drying of the copra, takes from 10 to 11 hours. About 15 piculs of copra are turned out every 24 hours. In other words, a dryer cf the five-section size now in ope ration at Polo is sufficient to take care of the crop of 200 hectares, 20,000 trees, cal culating 100 trees to the hectare, with an average yield of 60 nuts per tree per annum. “It takes two men and a boy working in two shifts each 24 hours to operate the dryer. “Fuller details, including photographs and blue prints, are obtainable from the Bureau of Agriculture, so I shall take no more of your time except to say that it gives me great pleasure to tell you that with a rare sense of public-spiritedness, Dr. Ar lington Pond, the president, and Mr. H. J. Detrick, the manager, of the Polo and Pam plona Coconut Plantations, have decided not to take out any patent and exploit the in vention for personal profit but to give it to the public. I believe you will agree with me that the Philippine coconut growers are to be congratulated on counting among them men with the broad vision of Dr. Pond coupled with the resourceful inventiveness of Mr. Detrick.” BUILDERS PROTEST AGAINST BUILDING FEE TAX INCREASE The Builders’ Section of the American Chambei- of Commerce of the Philippine Islands held a special luncheon and meet ing on Tuesday, November 13, on the in itiative of Active Member W. J. Odom, of the Odom-Cantera Engineering Company. The main topic of discussion was the recent recommendation of the Mayor of Manila that the tax on building permits be in creased. The present costs of checking plans and inspection of building construc tion by the city building superintendent’s office were also taken up. Those present were Capt. S. D. Rowlands, A. G. Hillberg, G. H. Hayward, John J. Riehl, Mr. Agcaoili, G. A. Barretto, W. H. H. Birt, A. Luna, W. J. Odom, F. de la Cai tera, George C. Sellner, John Gordon, Don Miguel Velasco and F. E. Hedrick. Capt. Rowlands was in the chair. Mr. Riehl suggested that a protest be made against the proposed increase in the tax on building permits based on actual costs of checking and inspection in the past five years. He also proposed a com parison of value of concrete and light mate rial construction and that the checking of plans be charged only to the building per mit and the inspection to city taxes. These suggestions were discussed at length by all those present, all concurring that the proposed increase is unjustified and inadvisable. It being the expressed sense of those present that a protest should be made against any increase in the tax on building fees, the chairman appointed a committee composed of Mr. Velasco, Mr. Barretto, Mr. Hayward, Mr. Birt, Mr. Riehl and Mr. Hedrick, to make a study of the matter and embody its findings in re commendations to be made through this Chamber to the Mayor. A vote of thanks was tendered Mr. Odom for the extreme interest he manifested in the matter by bringing it to the attention of those directly concerned. December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL Pictures Terrible Political Chaos in China Relating an almost unbelievable tale of governmental chaos and economic and polit ical disintegration in China, at the same time pointing out the unlimited possibilities of that huge country in the industrial and commerciatl fields, Juan Mencarini, a for mer Manilan who has resided in China tor almost four decades, delivered an interest ing talk before the members of the Amer ican Chamber of Commerce and thenfriends at the regular weekly luncheon of Wednesday, November 7. Mr. Mencarini spoke as follows: “I have been honored by being asked to address you on this subject, but I am afraid I will have to give you a most glcomy picture of the present situation of commerce in China; and what is most heartbreaking for us, is that the future prospects are likewise misty, so long as the present political anarchy reigns in that unfortunate republic and our governments continue their present apathetic policies. Some Commercial Figures “Believing that as a preface a few brief commercial statistics may interests you, I will point cut some of the most salient figures, taken from the Chinese customs report for 1922, the most recent statistics I have been able to avail myself of. This being an American institution, and not to occupy your precious time listening vo cumberseme long statistics, I shall limit myself to figures which concern the United States of America, a nation I must confess I have always admired for its immense possibilities and industries, and especially for its great altruism. “The following comparative tables will demonstrate the phenomenal growth of the United States trade with China: “In 1886 there entered and cleared from the Chinese treaty ports opened to foreign trade 28,244 vessels, measuring 21,755,760 tons. Of these only 413 vessels, measur ing 143,799 tons, were American. “In 1922 the statistics show the clearance of 186,428 vessels, with 124,131,361 tons, cf which 4,670 vessels, with 4,846,437 tons, flew the American flag. (The Hk:Tl (Haikuan Tael)—customs denomination— in 1922 averaged G$0.83). “In 1886 the value of the foreign trade was Hk. Tls. 479,872,391, of which only Hk. Tls. 3,440,259 corresponded to the United States. In 1922 the imports into China were valued at Hk. Tls. 945,049,650 and exports to foreign countries totalled Hk. Tls. 654,891,933, the whole foreign trade amounting to Hk. Tls. 1,599,941,583, of which imports valued at Hk. Tls. 169,004,534 and exports to the value of Hk. Tls. 97,579,046, totalling Hk. Tls. 266,583,580, corresponded to the United States. “To supplement the above figures, I pick up others at random: There was 30.5 mil lion taels’ worth of textile machinery miported into China during 1922, of which 6,725,264 taels’ worth arrived from the United States. Of electrical material and fittings the United States supplied China with Hk. Tls. 1,673,149 worth, the total importations from foreign countries total ling 9.4 million taels. Of paper the total imported in 1922 was 1,283,166 piculs, of which the United States was responsible for 107,186 piculs. In 1922, soft-wood tim ber imports amounted to 232,340,817 square feet, of which 142,012,899 square feet came from the United States. Chinese Industry “Chinese factory products are undoub tedly increasing annually, and should at tract attention. Exports of these for 1922 had a total value of Hk. Tls. 5,091,303, which, compared with the 1921 figure of Hk. Tls. 3,724,813, shows an increase of nearly 40%. It is difficult to obtain re liable figures on the exact number of for eign-style factories in China, but, to give an idea of their importance, I think it well to quote a few figures. At the end of 1922 there were listed at the Chinese Customs 740 factories producing articles of foreign type. Of these, 202 manufactured cotton piece goods, operating some 3,539,315 spindles and 16,676 looms; 87 socks and stockings, 69 cotton yarn, 41 cotton towels, 25 cotton thread, 66 soap and 42 candles. There were 38 flour mills, 19 cigar and cigarette factories, 11 paper mills, seven slate pencil factories and seven biscuit factories. Match factories are numerous in China, but figures showing their number are un reliable. I may mention that besides the enormous local consumption in China of this local made article, there were export ed to foreign countries 2,271,408 gross boxes having a total value of Hk. Tls. 937,466. Lacks-Capable Steersman Most of you know the enormous possi bilities of that immense territory, hugely rich in its productivity and sub-soil, with its 443 thriving millions populating the 18 provinces and dependencies. I need not point out to you the vastness of the wealth which could be produced if all the vitality of the country were aroused. It could flood the whole world with its necessities of life, as well as with all it required in the line of luxuries. China labor being still the lowest on record, could produce at such low cost that competition would be impos sible but, fortunately for us of the white race, at the rate things are progressing in China, it will be many a decade before such a situation will arrive. The Central Empire, as it styles itself, keeping its tra ditional conservative policy, would prefer to remain stationary, stagnant; but the powerful maelstrom of civilization and education is forcing her, unwilling though she may be, to be hurled into the stream. Hence we find China striving to keep afloat, but not having on board of her a capable steersman, her ship of state being manned by inexperienced and incompetent men who follow the counsel of some of the Young China party, mostly composed of half-baked students who, brandishing the montonous standard of “China’s sovereign rights,” keep the foreign powers undecided as to her actions, jealous, suspicious of each other, and hence leaving to the selfappointed militarists the whole field, which reeks with corruption, putridness and an anarchy that has disorganized the industry, the trade and the welfare of a country which should be the pride of every one of its inhabitants. “The militarists, encouraged by the cor ruption existing in the central capital and backed by their thousands of ruffian fol lowers. evily dubled soldiers, wage war on each other, emulating our own legendary feudal times, disseminating revolution and chaos in that unfortunate country, but, following to the letter the saying “fishing in troubled waters,” enriching their purses at the cost of that pitiful population. Their soit disant “bandits” are not the coolies that commit the savage crimes we read about. The real bandits are the tuchuns— the provincial governors—who have bought their positions and who are at the bottom cf every raid committed. They are the bandits, they are the ones to be suppres sed if order is to be restored. Needs A Dictator “What China requires is a dictator, a Li Hung Chang, a Yuan Shih Kai, who would crush down under his heel these re fractory self-nominated leaders. But, gen tlemen, I will sorrowfully confess, for lhe present I do not even vision such a patriot, who would be willing to risk his life, honor and prospective wealth to save his mother country. “You may think I am exaggerating, but I have been thoroughly disheartened by the recent cozip d’etat, accomplished by Tsao Kung, who, after dethroning Li Yuan Hung, barefacedly captured the presidency of the Republic by bribing his electors, the Representatives of the People, with ten million taels. “No, gentlemen, I am sure you are with me in saying that a country which allows itself to be so unscrupulously tortured, sacked and trampled down cannot aspire to our sympathy. It is true that “even the worm will turn,” but when shall that be? And when that calamity occurs, who will pay the “piper”? Of course we for eigners, we who have jeopardised our lives, given lavishly, sacrificing our home com forts, bestowing our energies and intel ligence to foster trade, industry and educa tion in that country, relying on our treaty rights, we will be the first sufferers; we will see all our efforts, our life work, sacri ficed, all though the lethargy, apathy, the blind policy of the home governments, who, as I have said before, suspicious of the pos sible ascendency in influence of their neighbors, do not intervene and call a halt to this deplorable state of chaos and anarchy brought about by a few self-seek ing corrupt bandits.” TO END UNEMPLOYMENT The British government has devised a scheme for handling the unemployment problem by embarking upon a huge sys tem of public works construction, some of the projects being scheduled to commence far in advance of original plans. They in clude docks and harbors, electric enter prises, roads, parks, gas and water works, sewerage plants, land reclamation projects, cemeteries, bridges, tramways, afforesta tion, laying of telephone trunk cables and naval construction. The expenditures in volve some 23.000;000 pounds sterling. THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 American Rule Will Solve Moro Problem, Men of Experience Declare The Moro problem was discussed by Americans who have had years of ex perience in the Moro country at the weekly luncheon of the American Chamber of Commerce on Wednesday, November 21, and the consensus of opinion expressed was that the present troubles there are mainly due to the incompatibility of Mo ros and Christian Filipinos. Must Keep Promises Judge P. J. Moore, prominent attorney and businessman of Zamboanga, was the first speaker on this topic. “The Moro was not a governed subject of Spain,” he stated. “When the United States first came to the Islands, the Moros had their own government. Spain never attempted to subjugate the Moro. When the Americans came here they respected the Moro religion and Moro customs. Finally we conquered the Moro by force of arms and when the Moro surrendered we made certain promises to him, which we are in honor bound to keep. “In all United States history there is no greater violation of a promise than the United States is guilty of with respect to the Moros. We promised them that if they lay down their arms we would pro tect and guide them. We have not done it. We have taken away their arms and left the people on the farms. We have given arms to the outlaws and have allowed an alien people to govern the Moro people. Cause of Present Unrest “The Moros simply will not be governed by the Christian Filipinos. My own opin ion regarding the present unrest is that it was caused by certain Filipino politi cians who in speeches delivered to the Moros said that America was getting out of the Islands and that they must prepare to be governed by the Filipinos. “The Moro has his own standards of morality, which many of us might profit ably follow. He doesn’t object to sending his children to school, but he does object to sending his girls to classes taught by Filipino men, who often forget the Moro code of morals. “The Lanao trouble was caused directly by an attempt of a Filipino school sup erintendent to force Datu Santiago and his men to repair a school building and cut grass without nay. This school teach er slapped Santiago, then kicked him and knocked him down. This was a mortal affront to the Moro chieftain’s dignity. The school teacher called the Constabulary detachment pnder Lieutenant Magno and ordered Santiago to carry out his orders without pay. Santiago with 40 or 50 men bearing Concealed weapons entered., and when the opportunity came massacred all the Filipincs. I do not justify the Moros for killing these people, but from their own standpoint the Moros feel themselves justified. “The Mero will send his girls to school if they are taught by American lady teach ers. This is proven by the success of the nurses’ school in Zamboanga and Mrs. Lorillard-Spencer’s school in Jolo. Treat the Moro right, respect his customs and religion and make good the promises made to him, and you’ll have no trouble with him.” The following cables were sent from Zamboanga during November by the Mindanao and Sulu American Chamber of Commerce: TO CALVIN COOLIDGE, President United States of America, WASHINGTON: Representatives American popula tion supported by more substantial foreign commercial houses Mindanao and Sulu ask your urgent considera tion of proposal for separation from Philippine Government of Mindanao and Sulu and Palawan, and their re organization, on basis of unorganized territory under American Flag admi nistration, as best solution of present Philippine question, thereby saving American investments and interests and preventing continuous strife be tween Filipinos and Moro elements. Mohammedan natives desire perpet uation of American Government. MINDANAO AND SULU AMER ICAN CHAMBER OF COMMERCE. To Herbert Hoover, Secretary of Commerce, WASHINGTON: Representative American and for eign business elements of Mindanao and Sulu have today sent cable direct to President Coolidge urging his con sideration of proposal for separation of Mindanao, Sulu and Palawan from Philippine Government as unorgan ized territory under American Flag. Trust your active support in interests of American chamber and trade in this territory. MINDANAO AND SULU AMER ICAN CHAMBER OF COMMERCE. In reponse to a question, Judge Moore thought there ought to be a separate form cf government for Mindanao under any territorial plan. Major Gilsheuser, president of the Zam boanga Chamber of Commerce, endorsed everything Judge Moore had said. Blames Washington Dr. N. M. Saleeby, who for many years was a school teacher and interpreter in the Moro province and probably knows more about the Moros than any other liv ing American, said that the Moro “lay down his arms because of the strength of our arms and because of our promise that we would protect him and guide him.” The Moros, he said, trusted our govern ment and our honor. They had never been ruled before. The Spaniards simply lived among them without trying to sub due them. The first rights the Moros ever yielded was to our arms. We governed them satisfactory until the Harrison re gime, when we “scuttled.” This Dr. Sa leeby characterized as a “shameful” pro cedure. Had we continued on our original path, he added, everything would have turned out well. We would have had by this time young Moro graduates of high schools and colleges who could have taken their share in the government of their prov inces. Instead, the Harrison regime started a policy of colonization by Ilocanos and other Filipino tribes. Harrison, to “save face,” sent Moros members to the Legislature. “What an outrage, what a crime against civilization,” exclaimed Dr. Saleeby, “to bring these untutored, inexperienced people into the Legislature!" “This policy is still going on,” he stated, “but it is all wrong. The system is wrong. Our troubles are Washington troubles. If Washington will take up the proper ideas, the problem would be solved. Our Con gress has scuttled and has not done its duty by the Moros. Under American sup ervision we would have had Moro schools, officials and tax-gatherers.” Dr. Saleeby suggested the sending of a few carefully selected Americans to the Moro country in a supervisory capacity, assisted by Moros. In this way, he thought, the Moro problem could be defin itely solved. Captain H. L. Heath, Senator George H. Fairchild and J. R. Hager, of Shanghai, a former Manilan who was a guest of the Chamber, also spoke briefly. Director Samuel F. Gaches presided. INDEPENDENCE PAR OFF SAYS JUSTICE OSTRAND Independence for the Filipinos is a pros pect of the distant future but is unlikely to materialize in the near future, accord ing to Justice James A. Ostrand of the Philippine Supreme Court who addressed the American Chamber of Commerce members at the weekly luncheon of Wed nesday, November 21. Times are good in the United States, said Justice Ostrand, who had just return ed from a vacation of several months in the homeland. The country as a whole is stronger economically and financially than it has been in years. As for the political outlook, the speaker said that in Washington President Cool idge’s- chances for the Republican nomina tion are considered excellent, but in the West they are not regarded so bright. There is some talk of Senator Johnson of California becoming the Republican stand ard bearer. Republican success, however, is by no means assured, he declared, es pecially in the middle West, where the farmers- are up in arms against the Re publican administration. Even on the Pa cific Coast there is some disaffection. Cal ifornians feel that they have not received enough attention. On the whole, howevc.-, Justice Ostrand gained the impression that the Republicans will win. United States papers made much of the local political mixup, Justice Ostrand said. The majority of the people seem to be in favor of independence, but the business people, who have considerable knowledge of conditions here, are opposed to it. There seems to be no popular demand for a declaration in favor of independence. There is no danger of a change of policy as long as the present administration con tinues in power, he added, and the same may be said of the next administration, if it proves to be Republican, as expected. President Coolidge and his advisers are solidly behind Governor General Wood, Justice Ostrand reported. He didn’t find a single person, Republican or Democrat, who didn’t side with Governor General Wood in his controversy with the Filipino political leaders. December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL American Chambers of China Approve Income Tax Stand A resolution endorsing the stand of the American Chamber of Commerce of the Philippine Islands as regards the federal income tax and another favoring the for mation of a Far Eastern Chamber of Com merce were approved at the annual meeting of the Associated American Chambers of Commerce of China held in Shanghai, Oc tober 16 and 17, according to a report from A. G. Henderson, representative of our Chamber at the gathering. Mr. Henderson introduced both resolutions. Delegates from Hankow, Tientsin, Peking and Shanghai were present. Mr. Henderson was there as a guest only, but was made most wel come. He reports that the members of the Associated China Chambers are just as much interested in our Philippine problems as they are in their own. The text of the resolution regarding the federal income tax is as follows: “American chambers of commerce in Lon don, Paris, Mexico City, Buenos Aires, Ma nila and elsewhere representing American commercial interests engaged in foreign trade for many years agitated against the injustice of the United States Government enforcing its domestic tax regulations upon Americans residing abroad who derive their income from non-American sources. “The American Chamber of Commerce of Shanghai after an agitation lasting over several years was able to obtain the pas sage by Congress of a measure known as the China Trade Act which exempts Amer ican companies registered under the Act from the operation of the domestic income and excess profits taxes, but was unable to obtain an exemption of American citi zens generally from the domestic personal income taxes. “The provision in the Revenue Bill passed by Congress in 1921 intended to exempt Americans residing in the Far East, includ ing the Philippine Islands and China, was stricken from the bill when it was sent to conference before final passage. “There are approximately 240,000 for eigners residing in China, of which number about 9.000 are Americans. Americans are the only foreigners who are required by their home government to pay income taxes upon income derived from activities in this part of the world and entirely outside the United States. The handicap which this places upon the American citizen in his competition with the British, Japanese, French, German and other foreigners in terested in foreign trade in this part of the world is self-evident. Governor General Leonard Wood of the Philippine Islands has well stated the case in letters and cables to the Secretary of War and to the Pres ident of the United States dated September 7 and 8, 1923. In these communications Governor General Wood said: Filipinos nn<l foreign residents of tlin Phil ippine Isliuids, business competitors of Am ericans, are exempt from federal incomo tax. paying only local taxes which aro very much lower. Resulting discrimination against Am ericans on outpost of our foreign commerce is grossly unjus*. .... British subjects abroad liavo never been subjected to British taxation on incomo derived from sources outsido of Groat Britain. By tho Financo Act of 1'320 Great Britain has even gone to the extent of refunding to British subjects taxes heretofore levied on income derived solely from British sources. Relief on the purl of Congress would greatly facilitate the general efforts to build up our foreign trade, seriously interfered with tjecting Americans here and elsewhere to the handicap of heavier incomo taxes than tlioso paid by foreign competitors ............ I feel strongly that the lenst the home gov ernment can do is to give a considc-ate hear ing to the American business mon of this oominanity in order that all the facts inny be be fore you beforo definite action is taken. “The situation affecting Americans in terested in business and othei- activities in China is exactly the same as the situation outlined by Governor General Wood in the Philippines. All foreigners residing in China are subject to certain municipal and other taxes in the communities wherein they live, but it is only the Americans residing in China who are subjected by their home government to all of the domestic taxes of Elser Congratulates Beck’s E. E. Elser, acting President of the American Chamber of Commerce of the Philippine Islands, has written the follow ing congratulatory letter to Mrs. I. Beck, Mr. Beck being out of the Islands, on the occasion of the 25th anniversary of the founding of the firm of I. Beck, Incorpo rated : “November 23, 1923. “My dear Mrs. Beck: “On the eve of the twenty-fifth anniver sary of Beck’s permit me to congratulate our fellow American and members of the Chamber of Commerce, Mr. Beck, and your self, too, upon your mutual and remarkable, success in a field requiring for achieve ment of success peculiar qualities that al! who know Mr. Beck and yourself realize, with pleasure and confidence, are the em phasis of your characters. “Year by year, Beck’s Department Store and I. Beck, Inc., have been developing steadily into one of the leading American merchandizing establishments in the Far the United States, even though the incomes are derived from sources entirely outside cf the United States. “In view of the above factors, the Asso ciated American Chambers of Commerce of China desire to approve of the action of other American chambers of commerce in various parts of the world, and especially the action of the American Chamber of Commerce of the Philippine Islands, as well as the action of the Chamber of Commerce of the United States of America, to the end that Congress in framing the next Revenue Bill may exempt Americans residing over seas and deriving their income from nor.American sources from the operation of cur d-jini-stic income tax law.’’ East, and this happy result come from Mr. Beck’s and your own initiative and business courage and sagacity. “May I share with you, on behalf of the Chamber of Commerce as well as myself, the pleasure of realizing the true signi ficance of your quarter-century anniversa ry, which the press of Mani'a justly notes; Lut when I meet you, or Mr. Beck, I also can not but be pleased in noting that the kindly old renegade, Father Time, has passed you lightly and graciously by; and when my memory courses back over the years, that flitted away so pleasantly, I find them all too short. “Time has, in the wise ways of legerde main that he is such a master of, played fast and loose, and you have won from him magnificently; he has given you for tunate and true friends, with whom I count myself, and left you youth: so no one may be more heartily congratulated. “Very sincerely, (Sgd.) “E. E. ELSER.” 10 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 WITH THE BOARD OF DIRECTORS Tuesday, October 30, 1923. Present: Directors Elser- Gaches, Heath, Meyer, Russell. A preliminary report of J. A. Wolfson, chairman of the Theater committee which staged the performance of the Champion for the American Relief fund, was read, and the following resolution unanimously adopted: Whereas Mr. J. A. Wolfson was charged with full responsibility for staging a play to raise funds for American relief for tho Chamber of Commerce; and Whereas to this end he selected an ex cellent play, chose a good cast and staged two most excellent performances with the aid of others whom he, under his authority, up)K>inted to tho committee, thus raising a relief fund which it seems will approximato 1*9,000 net when coversions from tho Japanese relief to American relief aro included; and Whereas tho Directors do no more than express tho views of the Chamber of Com merce as a whole when they record their per sonal and -official appreciation of this ex cellent and commendablo work on tho part of Mr. Wolfson, his committee and tho east in the play; therefore Bo it resolved that a vote of thanks bo ten dered nil mid several who had part in the pr >• ject, and that further appreciation of their services, sacrifico of limo and personal and business affairs bo shown by tho Chamber of Commerce in tendering t>o tho members of tho cast a buffet dinner-daneo at tho quarters of tho Chamber of Commerce at at a date convenient to them. The lease of the ground floor of the Chamber’s premises by the Manila Trading and Supply Company for another year was approved. The report of A. G. Henderson, represen tative of this Chamber at the annual con vention of the1 Associated American Cham bers of Commerce of China at Shanghai, October 16-17, 1023, was read and accepted with thanks to Mr. Henderson for his ef ficient work at the convention. The sum of 1*240 was voted to the Amer ican Relief fund, being the difference be tween the money secured for a number of boxes at the rate of 1*30 a box and the cor responding amount at the regular price of 1*60 a box. The resignation of Director C. W. Rosen stock, because of business demands upon bis time was received and the following re solution adopted: Resolved that in view of Mr. Rosenstock’s statement, his resignation be accepted with regret, and that it be made of record licit ed by the Chamber and the' other Directors. Tuesday, November 6, 1923. Present: Directors Elser, Feldstein, Gaches, Green, Haussermann, Heath. Mey er, Russell. Alternate Director P. A. Meyer was unan imously elected to fill the vacancy caused by the resignation of Director C. W. Ro senstock. The resignation of James M. Ross from Associate membership was accepted. Notice was-received that Active Mem ber Warren D. Latimer desired to sell his Active membership, and the Secretary was instructed to bear the matter in mind when looking up new Active members. Tuesday. November 31, 1923. Present: Directors Elser, Gaches GreenHaussermann, Heath, Meyer, Russell. The final report of the Theater com mittee was received and approved, and the Secretary was ordered to write letters of thanks to all who look part in the enterprise and who had not already received the thanks of the Acting President. An offer of the management of Rosenstock’s Directory to send out 40 or 50 copies of the 1923 Directory to commercial organizations with the card of the Am erican Chamber of Commerce, on the c indition that the Chamber pay the postag , was accepted. The Directors discussed and then adop ted unanimously the territorial government resolution appearing in another portion if this issue. Tuesday, November 20, 1923. Present; Directors Elser, Feldstein, Ga ches, Green, Haussermann, Heath, Meyer, Russell. The Directors unanimously endorsed a communication of the Manila Chamber cf Commerce with regard to obtaining through the government a better cable line between Manila. Iloilo and Cebu. A memorandum of “some concrete sug gestions for conversion of our present crown colony into a Territory of the United Sta tes,’’ by Associate Member J. A. Stiver was filed for reference. The Secretary was authorized to include mention of a memorandum on the desic cated coconut industry by R. Francis Adams’ in the weekly circular. The Directors decided not to have the Chamber represented at the legislativ hearings on the proposed eight-hour law, in vitation to which had been received. The secretary was instructed to write to the new Mayor or the city of Manila a renewal of the Chamber’s previous request for immediate removal of the piers of the old bridge of Spain from the Pasig River. Thursday, November 23, 1923. (Adjourned from Tuesday, November 20> This meeting was devoted to a considera tion of the methods to be adopted for the support of the statements made in the ter ritorial status resolution adopted Tuesday, November 13. There has been added to the equipment, of the rooms a combination folder rack and bookcase, in which the publicity matter of our American steamship lines and agencies represented by Americans will be carried, together with a stock of books on the Phil ippines from the Philippine Education Com pany. Richard Paradics, member, and merchant at Cagayan . de Misamis, Mindanao, has been visiting’ in Manila. He arranged by wire for the reception at Misamis of the American destroyers accompanying Colonel Langhorne on his Mindanao coast inspec tion trip. Mr. Paradies is the Ford agent for North Mindanao. He reports that he has sold 34 units since the first of the year. The following bills that may be of interest to members arc pending in the legislature: SB 209, adding par. C to sec. 1493 of the A. C-, “On each gross of boxes (of mat ches) containing less than 60 sticks to the box, a proportionate tax reduction.” Aim: to foster the local Industry. HB 810, to authorize municipalities to create new courses of revenue by imposition of taxes’ on activities, occupations, industry or commerce exercised within the municipal limits, the taxes thus collected to go into public improvements. HB 832, to repeal the tax on firearms. HB 839, to authorize municipalities to purchase supplies from any commercial house or store without the intervention of the Bureau of Supply. HB 910, to set aside 1*60,000 for a wire less broadcasting station in Manila. HB 925, making importation of livestock illegal except for breeding purposes, the Governor General to promulgate regula tions to prevent rises in meat prices. HB 953, to authorize municipalities io raise school funds by increasing the animal registration fees and livestock transfer fees. Senator George H. Fairchild has be n chosen by the Directors to fill the vacancy on the Board caused by che death of Colo nel H. B. McCoy. He will serve until the regular annual meeting of the Chamber in January. The Chamber of Commerce has ordered for early delivery a copy of The Shipping World Yearbook, 1924, published by The Shipping World. This will be a valuable addition to the library references. In this connection mention will be made of the fact that donations by members of business re ference books will be gratefully acknow ledged; it is quite possible that a number of such books, having been read and ab sorbed, are hanging onto the doorsill on their way to the oblivion of the Pasay fill, or are otherwise knocking about indiscri minately, and should be rescued by order ing them into the library. Announcement has been received of the Fifth Commercial Fair, to be held at Brus sels, Belgium, April 1-16, 1924. Members whose river craft have to fight their way through the channel still blocked by the old piers of the Bridge of Spain may wonder what is being done toward the piers removed. What was done was to bring the matter to the attention of Mayor Rodriguez, who when he had assured the Chamber of Commerce that immediate action would be taken, was presently no December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 11 longer mayor. The same urgent request has been made of Mayor Santiago, and similar assurances given, except that the municipal board must first set aside 1*30,000 for the expense involved, on the basis of the estimate of the city engineer. Beyond this, Judge Juan Sumulong has promised to take a personal interest in seeing that delay is cut down to the minimum. Members who have resided in Manila many years may recall memory of Alexan der Sidney Lanier, formerly in the Attor ney General’s office. Mr. Lanier is now in practice in Washington, D. C., and has contributed a very illuminating article (in a sense bearing indirectly on the Philip pine question) to the November North Am erican Review on “Congress and the Suppreme Court.’’ Mr. Lanier’s address is the Colorado Building, Washington, D. C. Let ters from old friends' might revive his pos sible waning interest in the Islands and their eternal problem. Robert Leslie has been engaged to super vise the cuisine. The attention of mem bers is again respectfully invited to this service, and thanks expressed for increas ing patronage. It is especially desired to have noon meetings, of which luncheon is a part, arranged to be held at the Chamber of Commerce. Twenty-four hours’ notice is suficient. Call Leslie. In cooperation with the Manila Cham ber of Commerce, the Legislature is being urged to grant the Bureau of Posts the appropriation requested in the budget sub mitted by the Director of Posts for ur gently needed repairs and improvements to the eable-land-wire system connecting Manila, Iloilo and Cebu. The estimated expense for this improvement is less than 1*250,000, and members who have acquaint ances and friends in the Legislature can, ly bringing the point to their attention from the standpoint of commerce, mate rially aid in getting the appropriation made. Visitors arriving in Manila from abroad are now receiving letters from the Cham ber of Commerce briefly outlining som? of the many points of interest here, sug gesting that their stay be prolonged long enough really to afford oportunity to learn something about the Islands and for provincial trips, and offering, of cour e, the services of the Chamber of Commerc1. Major Wm. H. Anderson, one of our Active members, is expected to return Manila during December for his annual visit to the Islands. The Major spends half his time in the United States, most ly in New York, and the other half in Ma nila. WAYS TQ KILL AN ASSOCIATION Don’t come to the meetings. If you do come, come late. If the weather doesn’t suit you. don’t think of coming. If you do attend a meeting, find fault with the work of the officers and other members. Never accept an office, as it is easier to criticize than do things. Nevertheless, get sore if you are not appointed on a committee; but if you are, do not attend committee meetings. If asked by the chairman to give your opinion regarding some important matters, tell him you have nothing to say. After the meeting tell everyone how things ought to be. Do nothing more than is absolutely ne cessary; but when other members roll up their sleeves and willingly, unselfishly use their ability to help matters along, howl that the association is run by a clique. Hold back your dues as long as possible, or don’t pay at all. Don’t bother about getting new mem bers. Let the Secretary do it. When a banquet is given, tell everybody money is being wasted on blow-outs which make a big noise and accomplish nothing. When no banquets are given, say the as s' aat.(jn is dead and needs a can tied to it. Don’t ask for a banquet ticket until all are sold. Then swear you’ve been cheated out of yours. If you do.get a ticket, don’t pay for it. If asked to sit at the speaker’s table, modestly refuse. If you are not asked, resign from the association. Don’t tell the association how it can help you; but if it doesn’t help you, resign. If you receive service without joining, don’t think of joining. If the association does not correct abuses in your neighbor’s business, howl that noth ing is done. • if it calls attention to abuses in your own, resign from the association. Keep your eyes open for something wrong, and when you find it, resign. At every opportunity threaten to resign, and then get your friends to. When you attend a meeting, vote to do something and then go home and do the opposite. Agree to everything said at the meeting and disagree with it outside. When asked" for information, don’t give it. Curse the association for the incomplete ness of its information. Get all the association gives you but don’t give it anything. Talk cooperation to the other fellow but never cooperate with him. Don’t subscribe for the association organ or advertise in it. When everything else fails, cuss the Sec retary. NEW INCORPORATIONS WONG AH YU MERCANTILE COM PANY, Zamboanga; capital stock 1*92,000, fully paid up. Directors: Wee Ah Yu. Yeo Keng Shao, Wong Hoo (treasurer), Wong Wa, Francisco Pioquinto. LINTAG, SALGADO & CO., INC., Ma nila; commission merchants; capital stock 1*10,000, subscribed and paid up 1*2,500. Directors: Teodora Salgado (treasurer), Joaquin Gonzalez, Francisco Palanca, Pas cual Lintag, Emilio Lintag. FRENCH DESIGN EMBROIDERY COMPANY, 1144 Pennslvania Ave., Ma nila; capital stock 1*100,000, subscribed and paid up 1*62,300. Directors: Belle Lauritsen (treasurer), Leocadia Mendoza, To mas Carpio, Marta T. Garcia, Alez Vorobieft. CEBU RIFLE CLUB, Cebu; no capital stock. Directors: R. R. Landon, W. C. A. Palmer, John J. Heffington, M. P. Alger D. G. McVean (treasurer). PANAY TELEPHONE AND TELE GRAPH COMPANY, Cebu; capital stock 1*500,000, subscribed 1*250,000, paid up 1’134,000. Directors: Theodore Vail Hal (Continued on page 21) Man Gets Money For Finding Mistakes! I lVTlLLER TIRE in| AVA spectors are paid ! an extra bonus for every j mistake they detect in a ’ “MILLER” ; TIRE OR TUBE i We do this for your I I protection. We know it makes them judge each j tire or tube more se verely. They check each step with infinite care —so that you are assur ed sound, honest value every time you buy a cTWiller Tire or Tube! The wisdom of this method is proved in greater mileage and more freedom from trouble at lower cost to you. Prove I it. Drive in or phone | for a Miller Geared-tothe-Road Cord Tire and a Miller Tube today. THE MILLER RUBBER CO. of NEW YORK, Akron, Ohio. Juan Ysmael & Co*, Inc. SOLE AGENTS cTManila, Iloilo, Cebu, Zamboanga 12 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 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 official 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 at times are occasionally szibmitted to the Board for approval. In all other respects the Chamber is i-.ot responsible for the ideas and opinions to which expression is given. Vol. Ill DECEMBER, 1923 No. 12 TERRITORIAL GOVERNMENT By unanimous vote the Active and Associate members of this Chamber have approved a resolution, previously adopted by the Board of Directors after careful study and extended discussion, asking Congress to abrogate the Jones Law and enact in its’ stead, an enabling act for the establishment of a Territorial government under the permanent sovereignty of the United States. This resolution was arrived at only after a thorough analysis of the present anomalous political situation in ths Islands and its effect upon industry and commerce. The Directors gave the matter very careful attention, considering every phase of the subject and listening to all shades of opinion. Their deliberate judgment is that things political have reached such a pass that the business of the Islands is adversely affected, both for the present and the future, and that unless a change in the governmental policy, par ticularly as regards provision for the unquestioned exercise of American sovereignty, is madt, progress and prosperity will be halted. With American sovereignty definitely declared and a satisfac tory territorial government established, the United States Govern ment would be in a position to guarantee protection to capital. Investments by outside capital would follow and the Islands would embark upon a period of industrial and economic development that would boom business and permit the Philippines to take their rightful place in international industry and trade. It is solely with the enhanced material, and hence social and educational, ad vancement of the Islands and their people in view, therefore, that the Chamber took this action. For twenty-five years now a colonial policy has been in effect which, while resulting in the creation of a large and prosperous bureaucracy, with a similarly benefitted political element, has not resulted in commensurate benefits for the common “tao” or for Phil ippine business. With a population vastly increased, our volume of exports has not risen in proportion. Hundreds of thousands of natives have been educated, but most of them have failed to find a productive outlet for their education. Standards of living have been raised, but no corresponding increase in earning capacity of the masses has been recorded. In short, it has been a one-sidsd progress in which business has shared less than almost any other sphere of human endeavor. American business men in the Philippines, as represented by the American Chamber of Commerce of ths- Philippine Islands, the largest organization of its kind outside of continental United States, feel that Philippine progress must be tumid into more practical and more generally beneficial channels. They believe that any political scheme of government which makes for the greatest possible material prosperity of the individual is the best in the long run for all concerned, and that the territorial plan of government furnishes such a system. The shameful campaign against Governor General Wood con ducted by some of the most prominent political leaders’ during the past four or five months has convinced American business men that the present uncertain political status of the Philippines is undesirable from other standpoints in addition to those of an eco nomic nature. The members of the Chamber feel that the time has arrived to present the question to Congress for a final decision. The con stant agitation for independence, both in the Islands and in the United States, partly financed by taxes of the American commun ity, has interfered with American business and kept away Amer ican capital. A definite, unequivocal declaration of permanent American sovereignty will once for all time remove this incubus to internal development. Details of the proposed enabling act for a Philippine Territory will have to be worked out carefully by the Directors and mem bership at large of the Chamber. To this end, another resolution providing for such a procedure has been unanimously adopted, and it is hoped that every member who has ideas on the subject will come forward and present them, to the end that the final recom mendations of the Chamber may as near as is humanly possible represent the composite concept of what the American community of the Philippines considers a form of government best suitable for the people of the Islands, one that will best serve the interests of all races, classes and beliefs. THE PHILIPPINE-AMERICAN CHAMBER OF COMMERCE A local Filipino daily recently carried an account of a meeting of the Philippine-American Chamber of Commerce at which Resi dent Commissioner Gu'evara spoke and several members of that Chamber replied in terms that are by no means reflective of Americant sentiment in the Philippines. The Philippine-American Chamber of Commerce is an organi zation of Amesicans and Filipinos in New York City and has ab solutely no connection or affiliation with the American Chamber of Commerce of the Philippine Islands, which is a purely American organization and represents American interests cnly. The uninformed public in the United States is very prone to regard the Philippine-American Chamber of Commerce as the rep resentative American commercial body in connection with Philip pine affairs. This is a natural mistake but a most deplorable cite, since the ideas of the two chambers on fundamental topics con cerning Philippine matters often differ radically, as they naturally will, since one is an expression of combined Filipino and American opinion in the United States and the other expresses only the opinion of Americans in the Philippines. As far as we can see, the Philippine-American Chamber of Commerce serves no useful end, so far as the Americans in the Philippines are concerned, especially in situations where Americans in the Islands desire to present to the American public clear-cut expressions of local American opinion. In such cases, the Philip pine-American Chamber is likely to handicap the work of the American Chamber of Commerce of the Philippine Islands. December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 13 There is no such difference in viewpoint on Philippine mat ters among Americans in the Islands as the activities of the Phil ippine-American Chamber would at times indicate. Some of these* activities might be considered as being inspired by interests dia metrically opposed to those of the great majority of Americans in the Islands. The Philippine-American Chamber is therefore an anomalous organization that harms the American cause as rep resented by the American Chamber of Commerce of the Philippine Islands, and should therefore be reorganized along lines in sym pathy with the Manila organization or change its name so as to obviate its confusion with the local Chamber. SIGNS OF IMPROVEMENT While the business slump of the past few months has not as yet disappeared in the Philippines, indications of a healthy revival of business are apparent. Both wholesale and retail merchants report an improvement in collections and an increase in the volume of business. This is of course partly caused by the holiday trade, but fundamental conditions are such that a general improvement in business is to be expected. The recent slump has greatly puzzled students of the economic situation. since all staple products were being produced in normal or more than normal quantities and exports were on the whole in excess of imports. Probably it was due to the extraordinary poli tical agitation which has taken place in the past seven or eight months. During such periods people watch their wealth with a sterner eye to the future and are likely to think longer before spending money or making investments. There is every reason to believe, however, that at bottom Philippine economic conditions are sound and that at least nor mally good times are to eventualize soon. The United States ha3 been enjoying en extremely prosperous period and such a condi tion on the other side of the Pacific is- usually reflected over here, though as a rule months elapse before the reaction manifests itself in the Philippines. A SPLENDID RECORD I. Beck, Incorporated, one of our Active members, has just celebrated the 25th anniversary of its establishment ip the Phil ippines. The firm was founded by I. Beck, its present head, who came to the Philippines as a poor merchant and opened up a small store at the present location of the firm on the Escolta. From these small beginnings, the business has steadily grown until today it is one of the most substantial import houses in the Islands with the largest retail department store in Manila. Mrs. Beck, wife of the head of the firm, has had a large share in the success of the business. Those not conversant with conditions in the Philippines may not see anything very remarkable in this record, which might be regarded as one of ordinary business success. But Americans in the Philippines' who have tried to achieve commercial success in the past quarter century can testify to the extreme difficulties that have blocked the path of American business enterprise in these Is lands. Situated as we are, 6,000 to 10,000 miles from our bases cf supply, with a market whose needs have not always been definite ly known, and faced with the necessity of developing new markets for many lines of goods, not to mention the handicaps in the way of laws and taxation that have always operated to increase costs, our business ventures have had a stormy path to’travel; and it is a path strewn with far more wrecks than survivors. Beck’s is therefore to be congratulated on its successful nego tiation of the difficult and uncertain s:a of American business in the Philippines for the past twenty-five years. It is a sure index to the possession, in a superlative degree, of those qualities that make for success in the eternal struggle of the survival of the fittest. Our congratulations go out to Mr. Beck and his corps of able assistants on their successful completion of a quarter of a century of business in the Philippines and we wish them an in definite continuance of the good fortune which has so deservedly attended their commercial activities. AN UNWISE MEASURE In the attempt to embarass Governor General Wood, the Philippine Senate, under the leadership of Manuel Quezon, has passed a measure authorizing the remittance or postponement of the land tax during the fiscal and calendar year 1924. This ac tion shows a most deplorable lack of real statesmanship in our upper Chamber and is obviously a political measure designed to catch votes in addition to being a slap of the Chief Executive. Governor Wood in his annual message to the Legislature said: The collection of taxes has on the whole been more satis factory than during the preceding year. In this connection, 1 feel that most serious efforts should be made to impress upon all elements of our population the necessity for prompt payment of taxes as one of the most important responsibilities of the citizen; delays and exemptions should only be granted because of serious widespread disasters or most unusual conditions. That is a sound, common sense doctrine and in its deliberate disregard the Philippine Senate has done much more harm to itself than to General Wood. The business community already shoulders a heavy burden of taxation. Remission or postponement of the payment of land taxes will necessarily so reduce the governmental revenue that the shortage will have to be made up from other sources of collection—and, as is usual in such cases, the business community will have to foot the bill. If the Senate is bent upon fighting a political battle with the Governor General, let it “bust itself”—to use a local colloquialism, but it is not in comformity with the traditional wisdom and dig nity of that body to complicate the political issue with such econo mically indefensible and demagogic measures as the bill remitting, cr postponing payment of the land tax, a necessary and ■vital source of public revenue. THE AMERICAN RELIEF FUND Mr. Julian A. Wolfson, trustee of the American Relief fund who was in charge of the recent benefit performances of The Cham pion at the Grand Opera House, has reported that the benefit has realized 1*9,441.31 for the fund. This is an excellent showing considering the short time during which the campaign was carried on and the fact that it immediately followed the pressing charity demands occasioned by the Japanese disaster. The Directors and members of the Chamber have expressed to Mr. Wolfson their ap preciation of his splended work and of the excellent performance which he staged. The Relief committee has been augmented and strengthened by representatives of other Amrican organizations which had been carrying on similar work, and from now on American relief acti vities will be centralized in this committee. This will prevent waste and duplication of effort and will also insure the most ef fective expenditure of the funds available for this purpose. The committee is now holding sessions at regular intervals and is attending to all worthy cases. A warning is issued, how ever, that they are not desirous of considering any but bona fide cases that are really deserving of assistance. All applications for relief are held in confidence but they are given thorough investiga tion to ths end that this- activity of the Chamber may be conscien tiously and efficiently served. Members of the Chamber who know of opportunities for the employment of Americans are especially urg;d to notify the Relief committee or the Secretary’s office. 14 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 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. R*ates 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 Trcps. 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. Cloveland Hippodrome Bldg. Los Angeles Van Nuys Bldg. San Francisco Monadnock Bldg. Seattle Alaska Bldg. Portland, Oro. 15tli and Kearney Donver 1700 Fifteenth St Review of Business Conditions for November REVIEW OF THE EXCHANGE MARKET By W. D. Whittemore Manager, International Banking Corporation. Dollar exchange, opening at 1 1/8'1 premium for T. T., developed a slight weak ness during the second week of November, probably due to an actual or anticipated increase in the amount of export exchange available. The ruling rate then became 1%, although on one or two days there was at least one seller at 7/8'1 ; but he quick y withdrew from the market. At the close rates may be called 1%, although a few banks are quoting 1 1/8%. Substantial concessions in the rate could have been obtained-for forward deliveries had buyers appeared. Sterling rates have advanced consider ably during the month. On October 27 we opened with a,rate of 2/2 1/4, and rates gradually advanced by stages of 1/16 or 1/8 every day or two until on November 19 we reached the highest rate for some time, 2/3 9/16. Rates have since declined, however, to 2/2 15/16 today, November 27. These fluctuations are of course due entire ly to the movements of sterling rates in New York. Sterling in New York has been very erratic in its movements, although general ly the movement was downward. On Oct ober 26 the rate was 4.50 lz4, from which point it dropped steadily with only one minor reaction to 4.28 1/4 on Novem ber 17. Since then rates have been very jumpy, with wide variations between the highest and lowest quotations on any or.e day, but on the whole the tendency has been upward, and we close at 4.38 5/8. or an improvement of over 10 points in a week. Such conditions naturally make ope rators cautious, with a consequent adverse effect upon business. It is rather futile at this distance to try to explain the unexpected vagaries in ster ling exchange. In the ordinary way we look for a weakness in sterling in the fall of the year, owing to America’s large sea sonal exports of cotton and grain. It is probable that this seasonal movement has this year been accentuated by the unfavor able turn which political affairs in Europe took. Silver in London has likewise followed an erratic course, but on balance has im proved. From opening quotations of 31 15/16, silver advanced to a high of 33 5/8, but has since dropped off 1/2 to 33 1/8. The lowest quotation for the period was 31 3/4 on November 2. Locally our market has not shown any extraordinary amount of activity, but we should say that there has been a little more business going than during the few pre ceding months, dv|e principally to some, activity in copra and coconut oil. Nominal quotations for telegraphic trans fers on other points are: 880 134 1/2 98 103 1/2 67 1/2 156 1/2 133 1/2 Paris. . . Madrid . . Singapore Hongkong. Shanghai India. . . Java. .. IRON AND STEEL REVIEW By Chas A. Clark Pacific Commercial Company The steel position has not shown much alteration. While November business re gisters improvement in some lines, notably in concrete reinforcing bars, general de mand still reflects conservatism on the part of buyers. The dominating thought of deal ers, particularly the Chinese, is to keep their inventories down in anticipation of the annual balance. With the exception of steel bars and plain G. I. wire, prices are weak. It is evident that jobbers are making strenous efforts to maintain their present price level while buyers continue to hold back their pur chases in the hope of lower prices. No important change has taken place in the supply situation. The idea, so general among buyers in the local market, that the next change in manufacturers’ prices will be downward, is a strong factor in the de mand. However, there is a division of opinion as to the effect of such important influences as purchases by the Japanese government, the industrial situation in Eu rope and the labor market in the United States. The Japanese government has suspended the import duty on sheets and structural steel and has already placed large orders in the United States. Canada, England and Germany. In America, steel mill workers are now operating under the short hour day; the new high wage level is keeping pace with the sustained high levels in the cost of living. It is difficult to predict the effect that disturbed financial and industrial conditions in Europe may have on importations of steel products frem England, Belgium and Germany and the consequent bearing on prices of American steel. However, as local importers are not addicted to speculation and as there are no heavy overstocks in the local market, the belief is warranted that the present normal situation will be con tinued without discomfort until general prosperity revives trade. G. I. SHEETS: Demand is light, with stocks ample in the lighter gauges and indications of shortage in heavy gauges. While definite price re ductions are not in evidence, there is no doubt that there is a pressing need of or ders, particularly for 30 gauge corrugated sheets. It is a buyers’ market. GALVANIZED BARBED WIRE: Continued light demand and heavy ar rivals have shot prices down to cost. The threatened invasion of anthrax car ries a lesson which, if heeded, will increase the use of barbed wire. PLAIN G. I. WIRE: Demand light and prices normal in spite of low stocks. WIRE NAILS: Demand, normal; prices low but firm, ex cept for certain sizes of which stocks are short. Japan is importing nails from Ma nila: a substantial shipment was forwarded to Kobe last week; further orders are ex pected. STEEL BARS: Contractors who have received awards for construction of public works to be completed at a date, under penalty provisions, have December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 15 made heavy inroads on local stocks of re inforcing bars: the result is a shortage in some sizes and a firming of prices all around. There appears to be enough busi ness in sight to absorb available stocks, both in bodega and afloat. Stocks can not be replenished in less than four months. High level prices during December, January and February should occasion no surprise. Manila, November 26, 1923. NOVEMBER SUGAR REVIEW By Welch, Fairchild & Co., Inc. Our last review was dated October 26 NEW YORK MARKET: We closed our last review with advices that Cubas tor prompt shipment had been sold at 5Vi cents, c. & f. In the closing days of October arid ihe early part cf November, the market was adversely affected by large consignments of full-duty sugars from Brazil, Peru, Sto. Domingo, and Venezuela, and prices for Cubas declined to 5-1/8 cents, c. & f., for prompt shipment. The price of refined also declined from 9.10 cents to 8.60 cents. After the full duty sugars had been disposed of, there was more tone :n the market, which has continued to ad vance steadily. Latest advices report sales of Cubas for prompt shipment at 6 cents, c. & f., and refined is quoted at 9.15 cents. The limited quantity of sugars available until new crop sugars arrive freely has been responsible for the rapid advance in the price of spot sugars. There has also been a keen demand for new crop sugars for early arrival, with the result that new crop Philippine Centri fugals for November/ December/ January shipment had been sold at prices ranging from 6 cents to 6-5/8 cents, landed terms. LOCAL MARKET: In view of the interest ‘shown by U. S. buyers in new crop Philippine Centrifugals for prompt shipment, our local market has been ex tremely active and there have been sales of Centrifugals for November/ December/ January delivery at prices ranging from FT 5.00 to 1*15.50 per picul, ex-godown. There have also been buyers of new crop Muscovados for January/ February delivery at 1*13.00 per picul, ex-godown, for Nc. 1, 50 centavos down per grade. About the middle of this month a typhoon accompanied by heavy rains passed over the Islands. Apparently the sugar crops have not suffered any ma terial damage, although several bridges were washed away and the railroad track damaged in various districts, resulting in a delay in milling operations for some days at a few centrals. ORIENTAL MARKET: Japan has commenced showing interest in our new crop muscovado sugars, but so far no business has been reported, dealers show ing no disposition to sell in view of the restricted size of the .Top and in anticipa tion of better prices later in the season. JAVAN MARKET: In keeping w?th the New York market, the Javan market developed considerable strength and. during the period under review, Superiors for November/ December, January delivery were sold at prices ranging from Gs. 173/4 to Gs. 21. Prices for new cron .Tavas have also advanced, latest quotations b<>ing Gs. 16 for Suneriors and Gs. 11-3'4 for Browns for July/ August/ S-mtember delivery, and the Trust not shewing much disposition tn sell further at ihese Prices. GENERAL: The following are the latest crop esti mates: PHILIPPINE TRUST COMPANY MONTE DE PIEDAD BLDG. TELEPHONE 1255 Can You Match This Shoe Z 1 at the Price? ■'''A IJERE is a low-cut canvas shoe for men that you will want for yourself as soon as you see it—simply because there are none better in Manila at any price. Finest high-grade canvas for the uppers, with fiber soles and leather or rubber heels, as you choose. One of the latest States styles with a Bal last. Ask for it—Model 15-534. -p-10.00 HIKE SHOE PALACE Roxas Bldg. Escolta T. G. Henderson, Mgr. HIKE SHOE FACTORY 286 San Marcelino R. A. McGrath, Pres. LEO K. COTTERMAN R. C. BALDWIN M. H. O’MALLEY R. E. MURPHY P.A. MEYER J. G. LAWRENCE P. C. WHITAKER W. D. CLIFFORD C. BARAHONA Offers an unexcelled banking service to individuals and corporations; transacts a gen eral. banking business and maintains special departments with facilities of the highest COLLECTION, DOMESTIC AND FOREIGN EXCHANGE, SAVINGS, BOND AND TRUST lets as administrator of estates, or ns executor or tiustee under wills, and as trustee tndcr .deed securing the issuance of corporate bonds. M. H. O’MALLEY. W. D. CLIFFORD, President. Vice-President. F. W. KENNY, Cashier. Member American Bankers Association Chose National Hank—New York Correspondent It’s the Condition of the Eyes and not the age of the person that determines whether glasses are needed or not. Thousands of children wear glasses because they need them. Thousands of other people don’t wear glasses because they don’t need them. Weak eyes should be assisted—made strong. The right kind of glasses properly fitted will do it. That means scien tifically correct examination first and expert grinding, assembling and fitting afterwards. All of which you are certain to get here. MANILA S&94ESC0LTA PI. MASONIC TEMPLE THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 Let Photographs sell your Merchandise. No Advertisement catches the eye so surely or forcefully as one supported by a Photograph. For Superior Worfe PHONE ONE-O SIX 0 DENNISTON, Inc. The ease with which the Standard Underwood Portable Typewriter is operated furnishes to the owner a writing machine that can be adapted equally well to business or per sonal work. It has all the necessary attachments which have made the original Underwood machine famous and in addition, it is so compact in construction and light in weight that it is the ideal machine to carry from place to place were quick typewriting must be done. The Underwood Standard Portable Typewriter P90.00 The Machine You Will eventually carry Smith, Bell Co. Hongkong Shanghai Bank Bldg. c7VIanila. Willett & Gray’s estimate of Cuban crop 3,700,000 tons. Licht’s estimate of the European beet crop 5,105,000 tons. Manila, November 27, 1923. REVIEW OF THE HEMP MARKET By J. C. Patty Secretary a,id Assistant Treasurer, Alaeleod & Company, Inc. Our last report was dated October 25, and this report covers the period from that date to November 26. U. S. GRADES'. At last writing the market for U. S. grades after a slight ad vance was quiet on the basis of F 1*18.50, I Fl7.50. J F 15.50, with the New York market 8-5/8 cents for F. 8-1/4 cents for I, 7-3/8 cents for J. For about two weeks the market remained more or less on the same basis, and since then has slowly im proved. The New York market being quoted today at F—9-5/8 cents, I—9 cents, J—7-1/2 cents, while Manila prices are F— F20.50, I—F19, J—F'15.50. The market at the 'present time is quoted quiet at New York- but is firm at Manila. U. K. GRADES'- At date of last report J was being quoted in London at £23.10, while in Manila business was done at J’i 12.75, K—F 10.25, L—F10 and M—F9. Very little change was registered until about ten days ago, when London showed more firmness and may be quoted today at J—£32.10, K—£26.10, 1^—£25.10, with no quotations for New York- while Manila quotations are J—F12.75, K—'P9.50, L-1'9 to F9.25 and M—F8 to F8.50. London may be quoted at present steady to firm, while Manila is quiet but steady. FREIGHT SITUATION: As we report ed seme time ago, freights were fixed to the Atlantic Coast at $2.00 per bale, and 75 cents per bale to the Pacific Coast f>r hemp intended for interior points, while for hemp which was stocked on the Pacific Coast the rate was $1.25. This was in ef fect until the end of November. At a re cent meeting of the Associated Steamship Lines it was decided to leave these rates in effect until the end of December. Jn our last report we mentioned that the U. K. freight had been reduced to 65/ per ton, to remain in effect until the end of November. Since then it was announced that the rate beginning December 1 wou’a be 95/ per ton; but about ten days ago it was again announced that the rate would be 75/ per ton until December 31. We give below our usual statistics: 192) 1922 Bales Bales Stocks on January 1.. 155,495 256,400 Receipts to Nov. 26 . . 1,331,375 1,142,186 Stocks on November 26 175-615 157,34 i SHIPMENTS Destination. To Nov. To Nov. 26.192) 26,1922 United Kingdom .. .. Continent of Europe.. Atlantic U. S............. U. S. via Pacific........ Japan....................... . Elsewhere and Local. Totals....................... 335,238 279,952 124,661 84 280 363,539 334.885 198,867 300,710 218,904 181,681 43,370 39,770 1,311,255 1,241,242 December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 17 TOBACCO REVIEW By an Active Member With the demand of the Christmas trade abroad over, cigar factories suffered a con siderable diminution of output during the latter part of November, the average fac tory in Manila being now down to about 25% of normal capacity. A few of the large factories, of course, are running close to normal, as they always will, because of their long-established clientele and well-dis tributed trade. Leaf tobacco prices are higher than last month, yet cigar prices have shown an up ward tendency, most producers working at a loss. The 1923 crop, as expected, has turned out much smaller than that of th? year before, being not more than 70% of the 1922 crop. Heavy floods in the northern Luzon tobacco region have washed out the seeds for the 1924 crop, the size of which is problematical, with indications that it will be below normal also. Heavy demand from the European market has practically exhausted the available sup ply of Cagayan tobacco, which is the variety that goes almost exclusively into exports to Europe. The tobacco and cigar trades have had a poor year and it is hoped that next year will inaugurate a more prosperous period in the industry. Viegelmann, 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. 664 THE RICE INDUSTRY By Percy A. Hill of Mu-iioz, Nucva Ecija, Director, Hice Producers' Association. As per our last crop forecast, the prob able danger due to lack of timely rains has actually been realized with a diminishing of the cojning crop. This loss, in accord ance with local custom, has been magnified to much larger proportions, which custom has a tendency to unduly magnify or dimin ish agricultural losses; and upon these re ports the central authorities have to depend for their so-called statistics, which are very generally ignored by rice merchants, millers and the more careful farmer. The crop loss has fallen on those growers who from lack of irrigation facilities plant varieties that tend to ripen under ordinary conditions in from 150 to 170 days and who perforce have to depend upon the weather, which is unstable, to say the least. In many cases where the area is devoted to those that head out during the period Oct. 20 to Nov. 10, the loss is exceptionally severe; but, on the other hand, those varieties that mature later, can be said to be partially saved by the late rains. While a crop will be harvested, both the amount and the qual ity will be of a poor class, from both milling and consuming standpoints. From authentic reports and observation, the loss in the Central Plain (the granary) will range from 28% to 30% in spite of gloomy reports of a 75%: loss. That losses of this magnitude in isolated cases have oc curred does not mean that the general average harvest will be that much off. Certain it is that parts of Bulacan, Pangasinan and the newly opened homestead coun try of Nueva Eciia will register a high loss due to planting of the varieties named above, but in the opinion of the writer the loss is not above 30%, and very possibly below this figure. Of course this means that it is a cash loss to the unlucky grower of approximately 1*25,000,000 at present prices, and of course so much less wealth produced, and so much less business; but to date the price of palay (unhulled rice) at the shipping points has not registered any noticeable increase, in The Appropriate Cigar No matter what the occasion, the Alhambra is the appropriate cigar. the ideal morning smoke. the all-day cigar. the after-dinner cigar de-luxe. A cigar that smokers everywhere have hailed with unanimous approval. PRESIDENTES -A unique origination, SumatraWrapped. BELLEZAS - - ESPECIALES - EXCELENTESCORONAS - - - When planning your entertainments or merely your own enjoyment, the plan is not completed until you have included ALHAMBRA CIGARS. Is placed on all Genuine Cigars to protect you 18 THE AMERICAN CHAMBER OF COMMERCE JOURNAL WELCH-FAIRCHILD, LTD. SUGAR FACTORS AND EXPORTERS MANILA. P. I. Cable Address: WEHALD, MANILA Standard Codes Agents Ilnwniinn-Philippinc Company Operating Sugar Contral Mindoro Sugar Company San Jos4, Mindoro, P. I. Mntson Navigation Company San Francisco Columbia Pacific Shipping Co. Portland New York Agents: Welch—Fairchild. Ltd . 138 Front Street San Francisco Agents: Welch & Co. 215 Market Street THE YOKOHAMA SPECIE, BANK LTD. (ESTABLISHED 188 0) HEAD OFFICE: YOKOHAMA, JAPAN YEN CAPITAL (PAID UP) ......................... 100,000,000 RESERVE FUND....................................... 73,000,000 UNDIVIDED PROFITS .............................. 5,108,236 MANILA BRANCH 34 PLAZA CERVANTES, MANILA T. ISOBE MANAGER PHONE 1759—MANAGER PHONE 1758—GENERAL OFFICE spite of the fact that little of the early crop has appeared on the market. The rise in price may come later, but should not re gister more than 10'; to 12'1 during the buying season. Added to the crop loss are the locust pest and the epidemic of anthrax, which promise, especially the latter, to be a more distinct loss than the reduction of the 1923-1924 crop, as upon the carabao depends the daily food of all, both masses and classes. That this disease has so rapidly spread is only another sad commentary on the efficiency of our “educated” government, which bal ances cash appropriations against employ ees who “shine instead of serve.” Luckily the actual producer of the food of all has been kept from collecting degrees that would put him >in the rapidly increasing class of non-producers. The latest reports from Burma indicate that nearly a million acres of the rice crop have been destroyed due to excessive floods, and with the small carry-overs of all the rice exporting countries except Siam, it would seem that the price will be slightly advanced in the face of inadequate home supply as regards the Philippines. Sta. REAL ESTATE 1 By P. D. Carman, j San Juan Heights Addition. 1 Sept. 21 to Oct. 21 to Oct. 20 Nov. 20 Santa Cruz ........ 1*134,158 1*111,498 Quiapo.. . . .... 83,905 165,316 Paco .. .. 14,600 Tondo . . . . .... 54,514 49,808 Binondo . . .. .. 73,000 40,000 Malate.. .. .... 85.480 25,051 Sampaloc . . .... 5,700 394,499 Santa Ana ......... 866 Ermita.. .. .... 56,600 23,000 San Nicolas . . . . 56,520 San Miguel .... 34 40,000 Intramuros . . Pandacan. . . . Mesa. .. January. February. March . . April. .. May.. . . June. . . . July .... August.. September. October. . November. 1*863,772 With the exception cf two unusually large transactions in Sampaloc and Quiapo (4*337,110 and 1*120,000, respectively) there seems to be but little improvement in the Manila real estate market over the previous thirty days. Suburban sales are reported as being slow. LUMBER REVIEW August-September By Arthur F. Fischer Director of forestry. Production sales and exports of lumber all showed a fair increase during October over the drop noted during the typhoon season of August and September. The total production for September was 11,385,000 board feet while the indicated production for October was 12,700,000 board feet as compared with 9,217,000 board feet during October, 1922. Total shipments for October, as indicat ed by the mills so far reported, are 11,December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 000,000 board feet as compared with 9,052,000 board feet shipped during September, 1923, and 12,164,000 board feet during Oc tober, 1922. Stocks of lumber in the mill yards at the end of October amounted to 21,150,000 board feet as compared with 21,828,000 board feet at the end of September, 1923, and 14,899,000 at the end of October, 1922. Lumber exports dropped rather sharply during September, amounting to only 1,019,000 board feet valued at 1*86,578 as compared with 3,249,000 board feet valued at 1*299,360 during August, 1923, and 1,533,000 board feet valued at 1*164,341 dur ing September, 1922. October, however, was a very active month, showing the sec ond largest volume of lumber exports this year with 4,457,000 board feet valued at 1*351,315 as compared with 2,455,000 board feet valued at 1*234,157 during October, 1922. Total exports of timber and lumber from January 1 to October 31, amount to 21,574,000 board feet valued at 1*2,372,489 as compared with 15,946,000 board feet valued at 1*1,494,616.00 for the same period of 1922, and 18,285,000 board feet valued at 1*1,667,940.00 for the whole year of 1922. -These increasing exports together with the inquiries received with increasing frequency from dealers in foreign countries as to quantity and sources of supply of Philip pine lumber, insure an opportunity for greatly increased activity for Philippine lumbermen and a relief from the overloaded condition of the local market which has existed for the past two or three years. FIRE INSURANCE E. E. ELSER Atlas Assurance Co., Ltd. London Fire Insurance COPRA AND ITS PRODUCTS By E. A. Seidenspinner Manager. Willits and Patterson, Ltd. The Employers Liability Assurance Corporation, Ltd., London Fire, Plate Glass, Automo bile and Accident Insurance The Continental Insurance Co. New York Fire Insurance We closed our October review on the 27th with the local copra market at 1*11.375 for resecado. The market has strengthen cd steadily during the month of November, attaining a peak of 1*12.75 to 1*13.00 for resecado during the beginning of the last week of the month and then easing off to 1*12.00 for the same grade. Inability t. move stocks from the provinces as a result of the typhoon was probably the strongest single factor behind the November rise. Production for the month was much lower than anticipated, a natural consequence of the heavy rains and winds accompanying the storm. We think it safe to prophesy that the next twenty days will witness i steady increase in copra production. Total arrivals' at Manila for November are estimated at 200,000 sacks as compared with 237,000 sacks for November, 1922. Latest copra quotations from the U. S. and foreign markets follow: U. S. - - - - - 4-7/8 cents. London ----- £27-12-6 F. M. M. COCONUT OIL The U. S. market for coconut oil has been featureless during November and the strong Manila copra market has had little influence on buyers’ ideas'. Scattered sales were reported as high as 8-1/8 cents, f. o. o. West Coast, but there was not sufficient buying pressure to support the market at this figure. There is very little probability of any material strengthening in foreign markets up to the end of the year, and it seems' safe to assume that the local copra market must decline to party with the U. S. Information as to rates or other matters pertaining to Fire Insurance cheerfully furnished by E. E. ELSER Kneedler Building 224 Calle Carriedo P. O. Box RQ8 Phone 129 Jable Address— “EDMIL,” Manila. H. R. ANDREAS MANILA, P. I. EXPORTER AND IMPORTER PHILIPPINE LUMBER AUSTRALIAN COAL BRICK SUGAR COPRA H. R. ANDREAS 306 MASONIC TEMPLE MANILA, P. I. P. O. BOX 1483 PHONE 269 Cable Address: “ANDREAS” Code: “Bentley’s—Private” 20 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 E. GASKELL & CO., Inc. CUSTOMS BROKERS RECEIVING AND FORWARDING AGENTS Land and Water Transportation Bonded and Public Warehousing CODBS: WESTERN UNION BENTLEY’S A. B. C. 6TH EDITION PRIVATE CODES TELS: Off 2425 2426 OFFICES: 103 Juan Luna BODEGAS: 21, 29, 35 & 41 Barraca St. and European oil markets. Latest advices follow: U. S. - - 8 cents, f. o. b. tank cars, buyers’ ideas; sellers 8-1/4. London - - £43-10-/ . COPRA CAKE There is a decided shortage in available local stocks of copra cake up to the end of the year and buyers seem interested in Spring positions. Small sales have been reported in Manila at 1*38 to F39 per metric ton ex-godown, December/January ship ment. Foreign quotations follow: U. S. ----- $24.00 per ton of 2,000 lbs., c. i. f. West Coast ports, December ship ment. London----- £610-/ to £7-/-/. Manila, November 28, 1923. SCHEDULE OF MEETINGS A Store of High Quality^ Dry Goods and Novelties cTWASONIC TEMPLE ESCOLTA Specialties in Fine SILKS and LINENS MAIL ORDERS ARE GIVEN PROMPT ATTENTION CABLE ADDRESS “ORIFER” TELEPHONE 543 P. O. BOX 759 LA INSULAR Cigar and Cigarette Factory, Inc. Manila, P. I. ESTABLISHED IN 1883 By Excmo. Don JOAQUIN SANTA MARINA The products of this factory are sold in every part of the world and are manufactured to suit the taste of the discrim inating smoker. The large stock of leaf tobacco from Cagayan and Isabela Valley which this factory always has; is the best guarantee of the excellence of its products. Try them once, and you will never forget them. p. o. Box No. 52 Enrique Carrion Tei. No. 97is General Manager Monday, December 10, 1:00 p. m.: Re gular meeting, Builders’ Section. Tuesday, December 11, 1:00 p. m.; Re gular meeting, Hemp Section. Tuesday, December 11, 4:00 p. m.; Re gular meeting, Board of Directors. Wednesday, December 12, noon: Weekly luncheon, and semi-monthly meeting, Ac tive and Associate members. Monday, December 17, 1:00 p. m.: Re gular meeting, Builders’ Section. Tuesday, December 18, 4:00 p. m.: Re gular meeting, Board of Directors. Wednesday, December 19, noon: Weekly luncheon, speaker to be announced. Monday, December 24, 1:00 p. m.: Re gular meeting, Builders’ Section. Wednesday, December 26, noon: Weekly luncheon, and semi-monthly meeting, Ac tive and Associate members. Monday, December 31, 1:00 p. m.: Re gular meeting, Builders’ Section. Wednesday, January 2, noon: Weekly luncheon, speaker to be announced. Thursday, January 3, 5:00 p. nt.: Re gular meeting, Embroidery Section. Monday, January 7, 1:00 p. m.: Regu lar meeting, Builders’ Section. Tuesday, January 8, 1:00 p. m.: Regu lar meeting Hemp Section. Tuesday, January 8, 4:00 p. m,: Regu lar meeting Board of Directors. SHOE REPAIRS (SAME DAY OR WHILE YOU WAIT) MEN WOMEN CHILOREN Heels_______ _____ Pl.00ri.00 P1.00 Half Soles______ 2.00 1.80 1.00 Full Soles ______ 3.00 2.80 2.00 Cuban Heel (Com plete) ________ 2.00 Cuban Heel Top- .50 Shoes called for 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 Rizal Avenue. Phone 817. Manila P. O. Box 237 December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 21 NEW IN CORPORATIONS (Continued from page 11) sey, Celestino Rodriguez, Vicente Zacarias, J. E. H. Stevenot (treasurer). Tiburcio Lara. STANDARD COMMERCIAL COMPA NY, Kenwood Hotel, Manila; general im port and export; capital stock 1*25,000, sub scribed 1*5,000, paid up 1*1,250. Directors: Enrique Varilla, Pedro Ygnacio, Emeterio A. Ramos, Victor L. Tence (treasurer), Serafin Fernandez. ANGEL VIVES, INC., 250 calle David, Manila; general import and export, coconut oil manufactures; capital stock 1*100,000, subscribed 1*00,300, paid up 1*44.000. Di rectors: Alexandre Weill, Chas. G. Ghezzi (treasurer), U. P. Bollino, Angel Vives, W. E. Edwards. MILL AGENCIES, INCORPORATED, 541 Muelle del Banco Nacional, Manila; general merchants; capital stock 1*29,000, subscribed 1*9.200, paid up PG,200. Direc tors: C. Henriones, G. W. Robinson (treas urer), Jos. Weissenbacher, Sidney C. Schwarzkopf, Ben. S. Ohnick. SAN ROQUE RICE MILLS CORPORA. TION, uagua, Pampanga; capital stock 1*51,500, fully paid up. Directors: Sy Cheng, Jose M. Cosiongco, Ong Fay, Tan Tin Che, Tan Seng Chia, Go Tu.v, Vicente Tantamco. THE PHILIPPINE PROVIDERS, IN CORPORATED, 6 Isla de Romero, Manila; mailing lists; capital stock 1’50,000. sub scribed 1*12,250, paid up 1*8,620. Direc tors: W. G. Frisbie, Escolastico II. Veloso, Pedro de la Liana, Edilberto S. Lopez (treasurer), Procopio L. Solidum. MOORE AND SONS MERCANTILE COMA NY, Zamboanga; capital stock 1*500,000, subscribed and paid up 1*332,000. Directors: P. J. Moore, (treasurer), G. M. Steinburg. P. E. Tishus, Francisco Bar rios, G. W. McClintock. MECLIDIA PLANTATION, Bacolod, Occidental Negros; capital stock 1*25,000, subscribed 1*5,000, paid up 1*1,250.75. Di rectors: Jose de la Rama, Dolores Cuay cong (treasurer), Felino Bermejo, Lidia de la Rama, Mateo Gutierrez. THE MOST APPRECIATED CHRISTMAS PRESENT ESTRELLA AUTO PALACE LEVY HERMANOS, INC. 536 568 Gandara (^Manila. 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 particulars Room 403, Filipinas Bldg. P. O. Box 128 Manila, P. I. Manager's Teh 2110 Main Office Tel. 441 The Quality Smoke Katubusan Cigars and Cigarettes Only finest Ysabela Leaf and Sumatra Wrapper used. Phone us for delivery of your selection of: Elegantes Box of 25 Excelentes “ “ “ Perfectos “ “ “ Divinos “ “ “ Reina Victoria, Box of 50 Presidentes Box of 100 CIGARS P3.00 Per MP 120.00 2.63 “ “ 105.00 2.20 “ “ 88.00 2.15 “ “ 86.00 3.25 “ “ 65.00 6.70 " “ 67.00 CIGARETTES (For Plantation or Mill Exchanges) 7.a Dalaga (each package contains 25) Fuertes “ " “ “ Entre-Fuertes " P 140.00 Per M Pkg. 98.00 “ “ “ 81.00 “ “ " KATUBUSAN MAKERS OF FINE CIGARS AND CIGARETTES Phone 8070 ^Address: 419 Clavel, San Nicolas 22 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 SHIPPING NOTES SHIPPING REVIEW J. T. Kinney, Manila Agent, Struthers and Hany During the month of November, exports and imports remained about the same as previously reported, with scarcity of exp n t cargo however, to the Atlantic Coast; ex ports to the Pacific Coast and Europe beingconsidered good. The West Cahokia, United States Ship ping Board steamer operated by Swayne & Hoyt, called at Hondagua during the month to discharge 4,000 tons of coal for the Ma nila Railroad—export cargo from that port being 1,500 tons of copra in bulk. The ve - sei proceed to Pulupandan to load the first shipment of the Philippine Sugar Centrals of this season’s crop. The Oitderkerk, of the Holland-East Asia Line, Meerkamp & Co., local agents, loaded copra at Legaspi during November for ex port to Europe. Recent advices from San Francisco state that the Cuba, Pacific Mail steamer, which is a total loss on San Miguel Island, has been seized and stripped by Captain Ira Eaton of Sta. Barbara and his armed band as a deserted vessel. Capt. W. R. Kennedy, San Francisco agent for Lloyd’s London Agency, telegraphed the Lloyd’s authorities in Los Angeles to protect Lloyd’s interest and to proceed against alleged looters, who have, according to Lloyd’s officials, laid themselves liable for civil proceedings. Suggested advertising slogan for Robert Dollar’s around-the-world passenger ser vice: “Dollar Will Take You Around Th? World.” Suggested amendment to the rules of the read: “During fog, mist, falling snow, or heavy rain storms, all merchant vessels shall make for the nearest safe port in or der that the Navy may conduct its speed tests through the lanes of commerce.” Every time a liner comes into port she has a big list one way or another. Yes. sh; has all kinds except the passenger list. When a conference was called for a mass meeting at San Francisco, only 18 men showed up to start a waterfront strike. Consequently there was no strike. The IFesf Mahicah, United States Ship ping Beard steamer, has been allocated to Struthers & Barry, and is now enroute to the Orient under their operation. This ves sel was formerly operated on the Austra lian run. A wife of skipper on the Atlantic Coast applies for a master’s nay—the next thing the courts will ask, “Who is the master?” The Canadian Pacific palatial passenger liners will again call at Manila commencing some time during March of next year. The present rates on h?mp have been con tinued to December 31: namely, Atlantic Coast and Gulf ports, $2 per bale; through bill of lading via Pacific Coast to overland rail points, 75 cents a bale. The first of the year these rates will be restored to the former tariff rates. With orders out for the spot condition of seven idle Shipping Board steamers at San Francisco and Portland, only 21 Shipping Board vessels, mostly turbines and coal I urners, are left in the mud fast at Pacific Coast ports, as compared with 70 on Sep tember 1, 1922. NORTH AMERICAN LINE HONGKONG TO SAN FRANCISCO Leave Leave San FranSteamer HonEkonE ShanEhai cisco “Talyo Marv.” Dec. 14 Dec. 17 Jan. 9 “Siberia Marif’ Feb. 16 Feb. 19 Mar. 16 MANILA TO SAN FRANCISCO (VI.-, Shanghai Direct) Si LAMER Leave Leave San Fran“Tenyo Marr.’’ Jan. 9 Jan. 13 Feb. 6 “Korea Marc’’ Jan. 20 Jan. 25 Fob. 18 “Shlnyo Mam’’ Feb. 5 Feb. 9 Mar. 4 R-S" First class tickets Interchangeable at all ports of call with Pacific Mall, Canadian Pacific and Admiral Lines. SOUTH AMERICAN LINE “Sciyo Marc” Dec. 4 Dec. 19 Feb. 24 For PaMeoger and Freight Information Apply to Toyo Kisen Kaisha Chaco Bldg. Phone 2075 December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 23 I TO PREPARE ENABLING ACT The following resolution was adopted at the meeting of Active and Associate Mem bers on November 14: ‘•Resolved that the Board of Directors of the American Chamber of Commerce be instructed to formulate by themselves and within the body of the Board an enabling act for the Territory of the Philippines along such lines as they feel will be to the material and political advantage of all peo ple residing in the Territory; and that when such act has been completed, to call a general meeting of the Chamber of Com merce for its discussion, amendment if ne cessary, and its final ratification as the un animous act of the Chamber of Commerce and the American community; but that prior to the meeting to consider the draft of the enabling act as prepared by the Di rectors, copies be furnished to the member ship for study and formulation.” U. S. FOREIGN TRADE TONNAGE The following figures show the total dead weight tonnage of the American merchant marine and the dead weight tonnage en gaged in foreign trade from 1840 to the close of 1922: Total In Foreign Year D. IV. T. Trade 1840 ..................... 3,271,146 1,144,257 1850 ..................... 5,303,181 2,159,541 1860 ..................... 8,030,802 3,569,094 1870 ..................... 7,369,761 2,173,269 1880 ..................... 6,102,051 1,971,603 1890 ..................... 6,636,746 1,392,093 1900 ..................... 7,747,258 1,225,193 1910 ..................... 11,262,123 1,173,776 1917 ..................... 13,306,556 3,661,164 1920 ..................... 25,027,342 15,692,631 1921 ..................... 27,538,464 16,819,943 1922 ..................... 27,784,969 16,279,371 24 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 AUTOMOBILE STATISTICS AUTO TRUCKING CO. £°4“ FURNITURE MOVED CONTRACT HAULING BAGGAGE TRANSFERRED DUMP TRUCKS FOR HIRE H. CARSON, Proprietor. 1955 cAZCARRAGA Interesting facts and figures on the Am erican automobile industry in 1922 have just been issued in booklet form by the Na tional Automobile Chamber of Commerce, 366 Madison Avenue, New York City. The year 1922 was a record year in the industry, the previous high water mark of 1920 having been exceeded by 22The tctal number of motor vehicles produced was 2,659,064, of which 2,406,396 _were pas senger cars and 252/668 trucks. This was a 60% increase over 1921. Of the passenger cars produced, 715,028, or 30%, were closed cars. The wholesale value of the cars pro duced was $1,567,003,041. Cars to the num ber of 67,096, or 2.8% of the total output, were exported. There are 12,239,114 motor- vehicles in the United States, the leading states in point of number ranking as follows: INSULAR LUMBER COMPANY MANUFACTURERS AND EXPORTERS PHILIPPINE CABINET WOODS ^ANNUAL CAPACITY 36,000,000 FEET TANGUILI RED LAUAN ALMON and APITONG LUMBER cTWANILA, P. I. FABRICA, P. I. 1. New York 2. California . 3. Ohio ............ 4. Pennsylvania 5. Illinois .... 6. Michigan 7. Texns ......... S. Iowa ............ 9. Indiana . . . 10. Missouri Number ’SG^BOT 829537 781,974 578,210 526,238 500,158 469,939 392,523 California leads all states in ratio of mo tor vehicles to population. Some figures follow: No. of Motor Persons Vehicles per Motor per 1,000 Vehicle population 3.6 251.4 4.8 208.0 5.1 198.1 5.1 196.7 5.4 185.0 5.8 173.0 5.8 171.1 6.2 160.1 6.3 159.2 6.3 157.6 6.3 157.6 6.8 149.0 8.3 120.5 10.4 96.5 10.5 95.1 23.1 43.3 26.1 38.4 Rank 1. California ......... 2. Iowa .................. 3. Nebraska ......... 4. South Dakota . . 5. Kansas .............. 6. Colorado ............ 7. Oregon .............. 8. Indiana.............. 9. Minesota ......... 10. Michigan ......... 11. Wyoming ......... 15. Ohio .................. 21. Illinois .............. 36. New York......... 37. Pennsylvania . . 48. Mississippi .... 49. Alabama ........... Louisiana showed the largest increase in registration, with 31.3%, and Utah the smallest, with 3.3%. Eighty-four per cent of the world’s re gistration is in the United States, where, taking the country as a whole, there are 9 motor vehicles to every person, or 116 motor vehicles per 1,000 population. Registrations by countries in 1922 are given as follows: United States. Un. Kingdom’. 1 23 Zealand. Belgium .... Br. S. Africn. Netherlands Denmark Put. E. Indies Switzerland Hawaii .... Ru^s’i"1 Philippines Uruguay .... Portugal ’.' Czechoslovakia Chile1..’.’.’;.’ .’ China ........... Straits SettleRumania .... 0^984 6,829 i 6.248 >) Data incomplete 739 1,028 December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 INTERNATIONAL BANKING CORPORATION CAPITAL (FULLY PAID) ___________ U. S. $5,000,000.00 SURPLUS__________________ _______ U. S. $5,000,000.00 (Owned by The National City Bank of New York) HEAD OFFICE: 60 WALL ST., NEW YORK London Office: 36 Bishopsgate, E. C. 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. 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 BELGIUM1 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 Manager, Manila Pacific Building, Corner of Calle Juan Luna and Muelle de la Industria 26 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 COMMODITIES STATISTICAL REVIEW MARKET QUOTATIONS BY MONTHS, NOVEMBER, 1922—NOVEMBER, 1923 (Paces on or about 25th. of each month) 1923 Nov. Oct. Sept. Aug. July June May Apr. Mar. Feb. Jan. 12 Month _ 1922 Average Dec. Nov. Nov. 1923 huuaic: Local (per picul) .......................................... U. S. Landed terms (per lb.) .................... HEMP: Grade F (per picul) ..................................... Grade J.-U. S. (per picul) ....................... COPRA: Ex-bodega (per picul) ................... COCONUT OIL: Local, ex-tank (per Kilo) ......................... West Coast (per lb.) ................................... TOBACCO: Isabela (average per quintal) ................... Cagayan (average per quintal) ................ RICE: First class (per sack of 57% kilos) • P15.25 P16.25 P16.00 $ 0.068 $ 0.075 $ 0.074 P14.50 P16.25 P17.75 $ 0.044 $0,065 $ 0.076 P19.50 $ 0.081 P20.00 17.75 16.50 $ 0.080 .074 .071 12.50 .052 EXCHANGE: 1. Sold by Treasurer on N.Y..O/D ... ” T/T....... Manila, T/T. CIRCULATION: 4. Government — (a) Philippine Coins......................... (b) Treasury Certificates .............. 5. Bank Notes. Total Circulation P20.50 P15.50 P12.00 1’18.50 1*15.25 P11.31 P17.00 P14.25 P11.50 1*17.00 P13.50 P10.63 P24.00 P14.62 P10.19 P24.62 P14.62 1*11.37 P25.00 P14.75 P11.62 P22.50 Pl 4.00 P13.37 25.50 15.25 13.50 25.00 15.00 11.50 25.00 15.00 12.10 P 0.330 p 0.315 P 0.328 $ 0.080 $ 0.079 $ 0.080 P 0.298 P 0.300 P 0.325 $ 0.078 $ 0.074$ 0.079 P 0.826 P 0.364 0.375 $ 0.078 $ 0.087 .090 .320 .320 .080 .080 P21.50 P17.25 P 9.55 P20.00 P17.00 P 8.90 P19.00 P17.00 9.35 P19.00 P15.60 P 8.45 P22.00 P17.00 P 8.50 P20.00 P17.00 P 8.45 P27.00 P18.75 P 8.58 P23.00 23.00 P15.00 15.00 P 8.05 7.95 19.50 20.00 15.00 14.50 7.65 7.75 13.00 .056 22.00 13.75 11.25 .300 .076 20.00 14.50 8.65 12.62 .056 16.75 .300 .076 19.00 15.50 8.65 16.06 0.067 21.91 14.43 11.63 0.323 0.080 20.96 15.99 8.41 GOVERNMENT FINANCIAL REPORT BY BEN F.'WRIGHT, Special Bank Examiner September 29 October 6 I October 13 I October 20 —October 27 Jpi 19,179,588.20 GOVERNMENT RESERVES: I 6. Gold Standard Fund, Treasury Manila...........I 811,613,939 84 7. Gold Standard Fund, New York.......................I 3,867,743.40 8. Treasury Certificate Fund, Treasury, Manila 17,051,659.00 9. Treasury Certificate Fund, New York............ i 41,133,129.00 Total Reserves..!................................................ | P73.666.471.24 November 3 I November 10 November 17 ’P3o’,’odo’j’ P19,609,162.22 P19.6I3,844.40 j P19.608.761.05 59,684,788.00 59,684,788.00 59,684,788.00 41,390,009.20 41,389,974.20 I 41,389,974.20 P120,683,959.42 >120,688,606.60 >120,683,523.25 P 19.601,293.64 59,684,788.00 41,389,974.20 Pl 20,676.060.84 PI9,608,796.13 ! P 19,599,821.37 59,684.788.00 ; 59,684,788.00 41,389,974.20 41,389,974.20 P120,683,558.33 P9,326,686.18 3,867,743.40 18,551,659.00 41,133.129.00 P9.357,554.56 3,837,743.40 I 18,551,659.00 ; ■41,133,129.00 I P73.288.348.50 P9,361,683.15 4,246,143.44 18.551,659.00 41,133,129.00 >120,674,583.57 I P9,361,729 27 | 4.246,143.44 18,551.659.00 41,133.129.00 P73,292,614.59 I P 73,292,660.71 P19.604.336.96 59,684,7r 8.00 41,389,974.20 P120,679,099.16 P9,361,759.27 4.246,143.44 18,551.659.00 41,133,129.00 P73,292,690.71 IMPORTS AND EXPORTS FROM AND TO ATLANTIC AND PACIFIC COASTS BY NATIONALITY OF CARRYING VESSELS NATIONALITY OF VESSELS Period Atlantic IMPORTS__ Pacific Foreign Countries ____ _____ EXPORTS Total Atlantic Pacific Total Philippines ..................................................................... American ......................................................................... British .............................................................................. Chinese ............................................................................ Dutch ................................................................................ Japanese .................................. .................................. Spanish ............................................................................ Danish .............................................................................. Panama ............................................................................ Mail .................................................................................. October. 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ October, 1922 ................. 12 months average. . . October, 1923 ................ October, 1922 ................ 12 months nverage. . . October, 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ Total 519,724 209,493 577,822 3,170,547 4,448,165 3,907,836 2,918,554 5,580,170 3,016,569 383,712 436,044 411,496 5,578 3,443,856 1,914 5,791,577 10,b66 3,605,257 16,494 3,5'70,753 8,101 4,892,310 20,263 4,339,595 565,319 827,863 3,335,472 3,122,221 2,692,509 2,853.984 4,047,367 3,956,449 4,895,259 8,450 37,509 369,576 4,612,686 4,784,312 8,230,731 3,130,671 2,730,018 3,223,560 13,916 513 64,096 3,083 191,000 1,904 100,693 4.034 400 12,245 1,774 13,916 4,547 64,496 206,328 104,371 510,760 545,990 163,776 447,531 671,723 21,150 64,854 34,595 447,531 671,723 531,910 610,844 198,371 October,' 1922 ................ 28,288 12 months average. . . 2,357 October, 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ October, 1922 ................. 12 months average. . . 444 October, 1923 ................ October, 1922 ................ 12 months average. . . October, 1923 ................ October. 1922 . .7......... 12 months average. . . 345,793 423,987 349,033 892,305 388,087 892,305 388,087 87 210 215 37,509 37,509 34 34 1,472,512 667,984 906, , 87 1,472,512 667,984 906,187 October. 1923 ................ 3,704,187 October, 1922 ................ 4,689,029 12 months average. ... 4,490,363 3,712,155 6,631,201 3,878,304 22,559 7,438,901 22,510 11,342,740 37,789 8,406,456 4,198,300 4,958,667, 6,778,828 5,549,479 5,174,327 6,877,374 94 9,747,779 10,132,994 13,656,202 December, 1923 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 27 PRINCIPAL EXPORTS Commodities October 1923 October 1922 Quantity Value % Quantity Value Monthly Average for 12 months previous to October 1923 % Quantity Value Sugar ..................................................... Hemp ......... ................................ Coconut Oil ....................................... Cigars (number) .............................. Embroideries ..................................... Leaf Tobacco ..................................... Copra Meal ....................................... Lumber (cu. meters) ....................... Cordage .............................................. Hats (number) .............................. Knotted Hemp ................................. Smoking Tobacco .............................. Desiccated and ahredded coconut Pearl Buttons (gross) ..................... All other products ......................... Total domestic products .............. U. S. Products ....................... Foreign Products ................... Grand Total ......................... 6,473,642 12,868,616 6,887,043 19,077,490 25,604,732 1,002,849 1,025,918 8,178,213 9,229 285,007 42,632 41,019 45 116,920 P 1,471,198 3,065,387 2,246,935 3,442,845 1,293,500 1,480,362 341.454 164,524 321,699 310,715 124,402 106,492 117,668 71 148,339 95,426 309,009 9.7 5,827,298 20.2 17,304,896 14.8 10.230,508 22.7 21,546,580 8.5 35,894,624 9.7 2.2 3,108,176 1.1 1,667,652 2.1 3,211,038 2.0 5,729 0.8 177,190 0.7 46,140 0.8 30,622 265,240 1.0 0.6 110,909 2,0 P15.209.607 100.0 Articles P 792.399 4,000,521 2,875,571 3,351,169 1,237,027 657,381 981,445 238,671 142,610 234,111 73,937 124,975 93,142 145,194 88,095 72,120 386,259 15,494,627 149,052 12,561 99.0 0.9 P15,656,240 100.0 NOTE.—All quantities in Kilos except where otherwise indicated. PRINCIPAL IMPORTS October 1923 Octobei 1922 Monthly average for 12 months previous to October 1923 22,286,011 15,489,579 7,868.876 16,418,966 18,782,339 1,293,984 2,083,246 3,635,247 5.471 239,075 46,497 44,758 93,183 56,159 P 5,437,041 4,040,284 2,274,699 2.972,790 1,073,466 887,138 521,056 331,506 126.459 201,826 110,122 102,121 128,210 48,531 137,250 43,247 369,472 18,805,218 195,776 39,753 98.7 1.1 0.2 P19,040,747 100.0 ...................................................Value^ Cotton Cloths ............ P 1,981,0 Other Cotton Goods.. Iron and Steel (except machinery) ............ Wheat Flour .............. Crude Oil ..................... Coal .............................. Meat Products ......... Rice ........................... . Machinery and parts of ............................ Dairy Products ......... Gasoline ....................... Paper goods (except Illuminating Oil . . .-. Silk Goods................... Chemicals, drugs, dyes Fish and Fish prodVegetables ................... Tobacco and manufacVegetablc fiber goods. Electrical Machinery. Cattle and Carabao.. Automobile Tires . . . Cement ....................... Fruits r.nd Nuts .... Eggs ............................ Books a-nd other printed matter . . . Shoes and other footWoolen Goods ............ Leather Goods ............ Breadstuffs (except Wheat) ..................... Perfumery and other toilet articles .... Oils not separately Explosives .................. Earthen, stone and Matches ....................... Curs, carriages (except automobiles) ......... Paints, pigments, etc. Glass and glassware. Automobiles .............. India Rubber Goods.. Spirituous Liquors . . Sugar and Molasses.. Cocoa, ete. (except Lubricating Oil .... Hots and Cups............ Wood and reed man ufactures ................. Motion Picture Films Auto Accessories . . . All others .................. Totals ......................... 309,867 363,324 258,011 241,793 294,136 254,175 61,153 197,102 172,597 118,536 88,586 1,530 70,554 17,429 62,688 45,224 64.02S 38.606 66,855 906,876 % 15.0 P 2,820,739 7“ ............ ~~ 3 2 2 4 0 3 1 2 2 2 7 2 9 0 7 5 3 9 0 0 0 0 5 0 0 5 3 7 2 8 6 2 5 <*13,222,701 100 1,165,172 353,670 4,216 252,524 286,613 230,807 243,812 65,734 66,372 86,791 84,944 22,327 16 3 23 2 8 9 2 9 9 1 2 3 3 2 5 7 0 5 0 0 7 8 0 5 0 0 3 3 5 6 3 2 5 0 0 2 3 9 Value 355,172 347,783 264,910 2^3,998 315,247 220,635 85,758 108,939 PORT STATISTICS FOREIGN TRADE BY PORTS October 19! October 192! 6 4 4 2.2 3.7 2 2 2 2 1 1 0 0 0 1 0 6 8 5 7 1 Monthly average for 12 months previous to October 1922 British . American CARRYING TRADE ____________________________ IMPORTS__________________________________ Nationality “ont!,’y aver,®s0 of October 1923 October 1922 Oprevious°to * Vessels October 1923 Value % Value % Value % P 5,597,856 Japanese Dutch ... Philippine Chinese . Spanish . Norwegian French German Danish Russian Swedish By Freight . . . Jly Mail ............ Total Nationality of Vessels American Japanese . Dutch . . . Swedish . Spanish . Norwegian German . Philippine Chinese . Italian . . Danish . . . Panama . . 5,324,291 427,385 675,594 475,520 21.783 121,654 142,720 42.3 P 7,119,235 40.3 6,649,658 3.2 1,475,187 5.1 402,044 3.6 389,973 0.2 6,303 0.9 96,968 58,558 12,809 1.1 5,275 42.7 P 6,384,249 39.9 5,177,696 8.8 991,274 2.4 844,888 2.3 246,794 33,232 0.6 105,001 0.4 41.324 0.1 3,418 50,096 3,636 9,518 43 1 44.6 36.1 6.9 5.9 1.7 0.2 0.7 0.3 0.4 0.1 12,786,803 96.7 16,216,010 97.2 13,891,170 96.9 435,898 3.3 471,721 2.8 435,639 3.1 1*13,222,701 100.0 P16,687,731 100.0 P14.326.809 100.0 EXPORTS October 1923 October 1922 Value % P 6,775,961 5,690,718 634,131 43,304 191,760 284,944 '500 108,417 44.5 P 5,787,916 37.4 4,889,007 4.2 1.051,626 0.3 520,658 1,101,957 1.3 526,871 892,305 1.9 206,750 6,485 0.7 By Freight .... 13,731,418 90.3 By Mail .............. 1,478,189 9.7 Monthly average for 12 months previous to October 1923 Value% 37.0 P 9,855,875 31,3 5,610,104 6.7 482,287 3.3 784,699 7.0 529,120 3.4 257,003 5.7 399,856 1.3 169,402 3,103 628 446 39,858 95.2 4.8 Total ............. P15,209,607 1C0.0 P15.656.240 100.0 P19,040,748 100.0 FOREIGN TRADE BY COUNTRIES Monthly average October 1922 October 1923 ^previous’to’18 October 1922 Countries —---------------------------------------------------------------------------------United States Japan ............ P17.284.548 JValue_____ %_ V Manila . . . Iloilo . . . . Cebu ......... Zs-mboauga Balabac 73.1 12.6 12.6 1.4 0.3 Total United kingdom . . . Germany .................. Australasia .............. French East Indies . Netherlands .............. Hongkong ................ D. East Indies......... Br. East Indies.... Canada ..................... Switzerland .............. Belgium ..................... Italy ......................... Japanese-China . . . . Denmark ................... Other Countries .. . Total ............. : 2,158,251 1,096,736 1,640,319 637,762 276,193 1,355,648 6,832 223,183 225,819 135,14 3 3,314 20,710 14,792 7,774 16,586 18,611 165,837 0.8 0.8 0.5 P21.612.412 66.8 2,191,591 6.8 1,242,748 3.8 1,296,201 4.0 379,964 1.2 1,205,193 3.7 705,815 2.2 647,625 2.0 634,499 2.0 282,042 0.9 191,049 0.6 473,311 1.4 912,599 2.8 97,164 0.3 102,491 0.3 152,634 0.5 63.984 0.2 21,534 0.1 2,910 4,396 22 737 36,821 0.1 P22,2 10,236 2,548,580 1.283,675 1.744.935 486.869 845,775 601.794 595,182 382,325 417.870 461,556 447,574 503,643 40.195 204.203 169,726 114,808 121,375 28,361 26,274 35,370 14,488 3.246 79,496 P28.432.308 100.0 P32,343,971 100.0 P33.367.556 100.0 28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL December, 1923 BUSINESS AND PROFESSIONAL DIRECTORY \ B. A. GREEN REAL ESTATE Improved and Unimproved City, Suburban and Provincial Properties Expert valuation, appraisement and reports on real estate Telephone 607 34 Escolta 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 Address : Telephone 1921 ■‘TOURVANT,” Manila P. O. Box 2106 C. B. STURTEVANT PUBLIC CARGO CHECKER We act ns public checkers for nil incoming and outgoing cargo ex ship, Government Piers or Warehouses. All work carefully and ex peditiously done tinder personal expert superW. W. LARKIN Member American Institute of Accountants Cable Address—'‘Clarlar.” Masonic Temple, Manila. HANSON & ORTH BUYERS AND EXPORTERS of Hemp and Other Fibers 301-305 Pacific Bldg. Telephone 1840 Cable Address: BAILEY, Manila The Bailey Stevedoring Co , Inc. Stevedores Compradores and Salvage Contractors Phone 116 DERHAM BUILDING I’. O. Box 517 Water Front, Aduana MADRIGAL & CO. 113-121 Muelle de Binondo, Manila COAL CONTRACTORS COCONUT OIL MANUFACTURERS MILL LOCATED AT CEBU Macleod & Company, Inc. Manila Cebu Vigan Davao Iloilo Exporters of Hemp and Maguey Agents for International Harvester Co. Agricultural Machinery Purchaiing and Selling Agents | The Service Agency I P. 0. Box 2106 Manila, P. I. : Information furnished on Phil ippine Minor Products, raw or manufactured. Correspondence in vited. (Cable Address) (Codes) "TOURVANT” BENTLEYS Telephone 1669 P. O. Box 1431 Hashim-Franklin Car Co. Hashim Bldg. 883-885 Rizal Ave. AUTOMOBILE ACCESSOBIES, SUPPLIES AND REPAIRS Hours: 9-12, 3-6 Tel. 557 A. M. LOUIS X-RAY LABORATORY 305 Rozas Bldg., Manila, P. I. Escolta, Corner Calle David ^Messrs. 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. P. O. Box 1069 j GEO. GERLACH I Marine Surveyor and Consulting Engineer j Ofli.es: 76 Escolta and No. 7 Calle Soda Telephone 2322 MANILA Tel. 1639 MANILA BRANCH HOUSE 129 Juan Luna cA. S. GUTTRIDGE, ^Manager G. A. Peters & Company | Importers & Exporters 1 Brokers Copra Coconut Oil Copra Cake | Phone 3918 208 Roxns Bldg. I THAT A BETTER DRINK THAN SAN MIG ;c .. I ! may somt dt. a . able is a puss ' ..i . a probabil ' ++ Sold at the ^American Chamber of Commerce TWO APPROPRIATE XMAS GIFTS COLUMBIA GRAFONOLAS PARKER PENS THE GEM OF TALKING MACHINES The purchase of a COLUMBIA GRAFONOLA means the cer tainty of an investment in an in strument which is the best of its type on the market today. It is really an investment in pleas ure and happiness. LET US SHOW YOU THE NEW COLUMBIA 1924 LINE IN A WIDE RANGE 01' STYLES Have won World-Wide Popularity. We have them in all styles, sizes and prices. Put up in Special Gift boxes for XMAS Presents and Prizes. Hear the Columbia New Process Records BECK’S P. MORAGA and ESCOLTA PARKER PENCILS DEPENDABLE CLOCKS for store, office or factory bear the name New Haven We have them in all sizes at from ?22.oo and up Hardinge Watchman's Clocks protect your property by compel ling the watchman to make his rounds. Come in and let us tell you all about them. H. E. HE ACOCK. COMPANY The Only One in the Orient Famous Norka Studio. Camera with Dallmeyer Pintax Anastigmat Lens F2.9 Makes possible Instantaneous Exposures in the Studio. Unequalled for securing Natural pictures of the Kiddies who won’t sit still. Our Work Compares Favorably with that of the best Studios in America. SUN STUDIO SOL STUDIO 242 Rosario Phone 8534 39 Escolta Phone 3939