The American Chamber of Commerce Journal

Media

Part of The American Chamber of Commerce Journal

Title: The American Chamber of Commerce Journal
Issue Date: Volume XIV (Issue No. 6) June 1934
Year: 1934
Language: English
Rights
extracted text: P. O. Box 1638 MANILA, P. I. P4.00 Per Annum 35 Centavos a Copy ----- t 11 the People? Did Chamber of Ctmmercr Elections Virginia Tobacco 1 Manila I Our Superior “°v Xffr Pla«. Gold in <h= EdxoMiI Balance of Li Introduced Near Rattan Furniture nd the Peso Expert Review of Com Oyi'.K 350.000 satisfied users agree that Electrolux is the finest au Ionia tie refrigerator you can own. It’s A Pleasure It is the most economical . . . permanently silent . . . gives you constant, steady cold to protect your food and makes delicious desserts and salads. In short, it has all the conveniences women like, as well as other unmatched advantages. Come in today and see the beautiful new models. \\ e shall be glad to answer any ques tions. Terms are liberal. to grow good tobacco for men who appreciate good cigars Among these are our EXCELENTES ESPECIALES CORONAS FAVORITOS PIGTAILS .... all made by TABACALERA ORIGINATORS OF HIGH GRADE PHILIPPINE TOBACCO PRODUCTS QUICK FACTS Lowest operating cost Permanent silence Freedom from costly repairs Split shelves Trigger tray release Every modem convenience t These are but a Few of the many desir able features of the New ELECTROLUX If you must practice econ omy this new, modern ELECTROLUX will help MANILA GAS CORPORATION IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 1 Here’s the ideal car for the businessmanthe 1934 STUDEBAKER! JsJWEEPINGLY streamlined—and yet in a conservatively attractive style all its own—that’s appealing to serious minded men. Comforts in accord with modern standards— mechanical efficiency acclaimed nearest to perfection. FROM THE SPEEDWAY COMES THEIR STAMINA—FROM THE SKYWAY COMES THEIR STYLE A Demonstration May Be Arranged MANILA MOTOR COMPANY, INC. 937 Ongpin • MANILA • Tel. 2-22-71 Ten O’clock and Four O’clock is “COFFEE TIME” at Bole’s Fountain The Gathering Place of People of Discriminating Taste IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 2 THE AMERICAN CHAMBER OE COMMERCE JOURNAL June, 1934 Calamba Sugar Estate Manufacturers of: Sugar—Copra Products Canlubang, Laguna Philippine Islands Pampanga Sugar Hills Manufacturers of Sugar Del Carmen, Pampanga Philippine Islands Manila Offices G. de los Reyes Bldg. 6th Floor Manila, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 3 THE MANILA HOTEL LEADING HOTEL IN THE ORIENT Designed and constructed to secure coolness, sanitation and comfort under tropic climatic conditions Provides every Western convenience combined with every Oriental luxury Finest Dance Orchestra in the Far East Management — HUBERT C. ANDERSON Here’s how to get Manilas! Meralco Street-Car Advertising Fare Receipts Exterior Dash Bumper LAYEBANA Signs Managers are constantly striving to increase the volume BORftTSO TALCUM CQOLINC Interior Cards Back of Signs Business of sales. Street-car Advertising is considered by many to be the best medium in the city of Manila for achieving this end. Include an appropriation for Street-car Adver tising when preparing your next annual budget. For rates and full particulars—call up A. B. Tigh, Advertising Manager Manila Electric Company 134 San Marcelino Telephone 2-19-11 Genuine Manila Long Filler Cigars in cellophane are obtain able in your ci ty or nearby! List of Distributors furC. A. Bond Philippine Tobacco Agent: 15 Williams Street, New York City Collector of Internal Revenue Manila. P. I. MA NILAS made under sanitary conditions will satisfy your taste I (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Products. “Section IS. Insanitary Acts.— No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco product or supervising such employment, shall perform, cause, permit, or suffer to be permitted any insanitary act during such employment, nor shall any such person touch or contaminate any tobacco products with filthy hands or permit the same to be brought into contact with the tongue or lips, or use saliva, impure water, or other unwholesome substances as a moist ening agent; .... * ’. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 4 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 SMfligud is whetted to enjoy a wholesome meal— It is brewed by San MiguePBrewery TO EUROPE BY AIR TRAVEL BY MODERN AEROPLANES OF THE ROYAL DUTCH AIR LINES (K. L. M.) WEEKLY PASSENGER AND MAIL SERVICE BETWEEN BATAVIA (JAVA) AND AMSTERDAM (HOLLAND) VIA PALEMBANG, SINGAPORE, ALOR STAR, BANGKOK, RANGOON, CALCUTTA, ALLAHABAD, JODHPUR, KARACHI, JASK, BUSHIRE, BAGHDAD, RUTBAH, GAZA, CAIRO, ATHENS, BUDAPEST AND LEIPZIG. 9000 MILES IN 8 DAYS For full information please apply to EASTERN & PHILIPPINES SHIPPING AGENCIES, LTD. Escolta 8-12 Manila (Comer Jones Bridge) Tel. 2-26-96 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL Did They Tell the People? John R. Wilson: Secretary, American Chamber of Commerce Now that the elections are over will someone please tell us what they were all about? One party was “anti” and the other “pro”; just what were the “antis” against and the “pros” for? As far as the innocent bystander can figure out the whole thing was a war of personalities. Neither party could promise anything. Their future line of conduct is too clearly outlined in the Hawes-Cutting and TydingsMcDuffie bills. Call these bills whatever you please, they are still the same thing as far as future Philippine prosperity is concerned. Did the candidates of either or any party tell the electorate of the misery that is to come? Did they tell them that tens of thousands of sugar laborers will be without work this year and years to come? What about our copra industry? Were the copra pro ducers and laborers told fully about what a generous congress did to them; that they levied an excise tax equi valent to 200% of the present price of oil? Even the Pres ident of the United States was powerless to have this-tax eliminated. United States congressmen demonstrated their fear of the electorate. How long will it be before the Phil ippine electorate will demand of their elected representatives the same obedience? What about abaca? Up until about twenty years ago this industry was confined to a few districts of Luzon, the islands of Samar and Leyte and was completely in the hands of Filipinos. Did any of the candidates tell the producers in these districts that the control of this commodity has passed into the hands of foreigners who are raising superior abaca in other districts? Filipino labor is not benefiting by this change, even the field work is done by nationals of the foreign producers. Reports from Leyte are to the effect that laborers in that province are actually working for 10 centavos a day, some for 5 centavos and some for scanty food only. Leyte has a population of 800,000 and no one will deny that the potential power of such a mass of people is not to be trifled with. Did our candidates tell the embroidery industry that before independence is an accomplished fact their means of livelihood will have disappeared? Embroideries rank fifth in our list of ’exports. In 1932 we exported over 6 * /2 million pesos worth. In 1933 the value was only about 3’/2 million pesos. Foreign countries are making inroads into our exports of this commodity. The only thing that holds us any part of the market is our free-trade privilege with the United States. What are these women going to say when they can express their views through the ballot-box? Have our politicians told the people that foreign fishermen are driving our own people off our own waters and are mono polizing the fishing industry? How can they explain the fact that there is not stricter supervision of this natural resource? Did they tell them that public improvements must cease and that our present good roads will deteriorate to the point of impassibility? Did they tell them that schools will close and education be curtailed? Did they tell them that the transition period of supposedly 10 years is too short a time for a people to change from a life of prosperity to one of peonage? Did they tell the people who is going to be responsible to the people when the predicted calamity becomes a reality? Did they give the real reason why the feverish haste to organize the commonwealth government? Some of them did talk about finding new markets for our sugar and copra products, but such arguments fall flat on the minds of those who have taken the trouble to study the matter. China is the big market to which the spellbinders always refer. It might be of interest to them to know that long before the United States market is entirely closed to Philippine sugar China will be producing every ounce of sugar it consumes and at a price so low that even Java will not be able to compete. Sugar mills are now being erected in China and there are more to follow. There is a lot of talk about industrializing the Philippines, but so far no one has come forward with any feasible sugges tion. Just what might we manufacture in the Philippines that is not already being produced in quantities sufficient to meet the local demands? Just what does the Philippines produce that cannot be produced cheaper and better in neighboring countries? Stop feeding the people with a lot of ethereal impossibilities. It would be safer to tell them the truth. There is one consolation for the successful candidates; they promised nothing, therefore they are not to be held responsible for broken promises. It is believed that everyone will admit that the candidates did not tell the things mentioned in this memorandum. It is not too late however for them to tell the truth and by so doing help the cause of the Philippine people. Filipino leaders in every walk of life should, without reservation, be honest and tell the masses what they may expect. It is only by enlisting the confidence of the tao that the situation may be served. They are due this confidence and if it is not given freely and honestly they will eventually exact retribution. The future of the Philippines is not in the hands of the Filipinos. There are stronger forces shaping the destiny of these islands. The fruits of the islands will not accrue to the natives but principally to industrious foreigners unless acts are substituted for mere wordb. All we can ask is that God will have mercy on those guilty of the sins of omission when the taos realize their hopeless plight. 6 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 Looking at the General Elections' Practical Results Majority's great victory entails exact responsibility: no cultisms mani fest, adequate fiscalization assured The outcome of the general election assures the fullest fiscalization of the majority’s acts by the substantial and watch ful minority. The major ity will be able to do what it wishes, in the legisla ture, but not without close scrutiny by the min ority and exposition on its own part of every position taken. It was not a Pyrrhic victory, yet it was not a Salamis. The majority has the fruits of victory, but not quite to do with as it will. The Hon. Manuel L. Quezon minority will of course return to the conflict, andthis at once—in the contest over delegates to the constitu tional convention. The majority’s position parallels John Adams’s election, the first in America in which there was partisan division over the presidency; and opinion is striking ly and similarly divided, not over nationalism, but the trend it shall take and the distance it shall go. If too, State street never liked an early Adams, despite their residence at Boston, in this election, except the senator ship and a division of lower-house seats, Manila stood with the minority. Even the senatorship came of votes outside the city. The majority indeed, carried no great port town; neither Manila, ndr Iloilo, nor Cebu. The fact of this is not of course noted but to hold closely to the subject of this paper: that a sound government has been given office by the people, and a sound government that will necessarily render an accounting for all it does. That it lost the port towns, centers of the larger populations and business interests, means that it faces an alert press; not a hostile or prejudiced one, but a press awake to what trans pires and ready to add its comment to transactions affecting public interest. The elections, therefore, may be said to have turned out most happily for the country, giving it a legislature of sufficiently divided opinion, and power; and this, it happens, is just what would have been, had the balance inclined the other way. Given the better of the leaders tilting against each other, the country couldn’t lose. It was a foregone conclusion, too, that these leaders would be in the legislature in any case. Nor is the legislature merely to be fairly well balanced and powerfully led on both sides. The executive influence in effecting legislation is to remain forceful. (It may be said here that of the 9 appointive representatives and 2 appointive senators, Governor General Frank Murphy only requires a conscious living up to their own principles, their own views: they are not, under him, automatons of Malacanan). But the elections went much further than merely to seat a good legislature with probably much better than the average run of lesser officials. They illustrated essentially good traits of character among the people. Highly partisan though they were, they involved 14 million people, 1,150,000 registered voters, and instead of being notoriously violent—the news papers attribute 4 killings in hot blood to the election excite ment—practically they were notoriously peaceful. They illustrated once .more the people’s good manners, their ability to keep gregariously sane. You saw on election night and throughout the day following, in Manila, crowds who had Hon. Sergio Osmena voted pro looking at the tally boards and seeing their votes for Palma for senator obliterated by provincial votes for Sumulong. These crowds were partisan, but the contest was over; they were de feated, and they smiled in defeat. Governor General Murphy made common-sense note of the first rate conduct of the people under duress of partisanship wrought to the highest pitch of feel ing. It is believed his ob servations, formulated as he drove from polling booth to polling booth throughout Manila, were wholly accurate. Many a candidate counted out by the ballots harbors a grudge, even a thirst for revenge; but the people who cast the ballots are already about their usual affairs— to them the contest is history. Personalities entered the campaign, yes; personalities always do enter campaigns, and in search of their notable influence in this one you have but to turn to Pampanga, almost solidly pro, and all its neigh bors, almost solidly anti. The new government bears another comparison with John Adams’s. It is sectional; it has the north, this island, but it has not the south, the Bisayas. This loads it with a peculiar responsibility that all nonpartisans will observe with keen interest. It can be forceful, it may be magnanimous for the sake of the country’s great industries and best interests. Its magnanimity is in the balance now. If Occidental Negros is narrowly anti, Negros sugar merits no less from the central government because of that; and so with Pampanga, where a pro administration will represent the province. This test is the harder be cause sugar taxes are up for revision and the quota allocations are to be made, these latter by Governor Murphy— mitigating somewhat the majority’s delicate position respect ing sugar. The broad view is the right one, that sugar is vital to all the islands. The minority charged the majority with arrogance. Let us take sugar as the test of this assertion, some great sugar provinces having gone with the minority. La Vanyuardia noted a phenomenon of the elections. “In one precinct where there were more than 300 registered voters, votes cast hardly reached half that number. In others where more than 200 voters were registered, votes cast didn’t reach 75.” The paper advises the Australian law compelling under penalty every qualified elector to cast his vote. If what it reports as having happened in Manila was a rule throughout the islands, there is another parallel with the Adams period in America, but without like foundation. In early America the franchise was most limited. The populace whom the Federalists supporting Adams feared, clamored for it but could not gain it. Here it is widely possessed, but much less widely used, though it may be used without pre sentation of the poll tax certificate, the ubiquitous cedula. If too, all the intensive campaigning and truckling to tax delinquents fell far short of bringing out the vote, it argues something significant. It perhaps argues this: voters had the election well sized up, where their candidates didn’t need their (Please turn to page 13) June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 7 Virginia Tobacco Cultivation Near Manila Promises Well Goldleaf Tobacco Company's second crop large, and plowing underway for 800 to 1,000 acres next season. Turkish leaf grown too The illustrations on this page are among the most significant this magazine has published. They de monstrate not only the establishment of a new branch of the islands’ to bacco industry, that of growing tobacco for the modern cigarette, but also a most practical outcome of cooperation between a plantation company and the government’s agricul ture experts. They show Virginia and Orinoco to bacco growing in the fields of the Goldleaf Tobacco Company on its plantation at kilometer 27 on the Novaliches road presently terminating at the Angat river. To prepare this paper, this plan tation was visited. Harvesting is in full swing. Cured leaves are of a uniform golden color. Larger fields are being put into tilth for next season’s planting, expected to cover from 800 to 1,000 acres. Judge John W. Haussermann is president of the company; other directors are J. P. Heilbronn, head of the paper company bearing his name, and of Botica Boie; Santiago Carrion, a leading Manila cigar and cigarette manufacturer; Otto Frauendorff, manager of Aguado Hermanos, and T. P. Lim, manager of a cigarette company here. F. A. Kretzschmar manages the plantation, the extensive Novaliches estate, piedmont formation, the home of Mr. Frauendorff, first to notice its possibilities for tobacco. The market for such tobacco is worldwide. The local demand steadily grows, is now between the value of 1 * 5,000,000 and 1 * 5,500,000 a year, compar ing with 1 * 4,000,000 in 1931. Manager Kretzschmar’s tobacco-growing experience in the Philippines, prior to his connection with this company at Manila, was in the Cagayan valley during a period of 5 years. He is at the prime of life. He also has an experienced assistant. Under efforts of Dr. Manuel L. Roxas while heading the old plant industry bu reau, and of Domingo Paguirigan of the tobacco sectipn of that bureau, Virginia tobacco has been experimented with on Luzon from the Cagayan valley, where it was first tried in 1924, to the experiment station at Alabang. The results wished for were only obtained at Alabang, for the Virginia leaf grown there proved to have a nicotine content, Manager Kretzschmar says, averaging 1-1 /2%, so low that the tobacco when used in cigarettes needs no toning down with Turkish leaf. In the Ilokos region, as the experiments moved toward Manila, the nicotine content was too low. The Alabang leaf being satisfactory, there was assurance that leaf grown on the Novaliches ( state would be satisfactory too, the climate of the two places being the same. Such are Manager Kretzschmar’s assertions. To the eye, the leaf being cured now bea s out his claims fully. All leaves Upper left, field of Virginie tobacco; upper right, field of Orinoco tobacco; center, field of Turkish to bacco; below, leaves of Virginia tobacco showing their mature size. Goldleaf Tobacco Company’s Novaliches plantation. are large, fully mature, uniformly golden in color. The pictures show the vigor of the plants; the man in the pictures is more than 6 feet tall. Uniformly mature leaves come of picking the to bacco leaf by leaf, as maturity occurs; mature ones being plucked off, the younger ones receive the full strength of the stalk and mature in their turn. This is said to be in con trast with methods in Vir ginia and Carolina, where gathering is done by pluck ing the stalk with leaves both mature and young on it. The leaf-by-leaf method gives maximum yield, and both the surety of a consistently dry harvesting season and cheaper labor—family labor, employed the year round—make it feasible at Novaliches. Manager Kretzschmar reckons the climate here a decisive factor in the success of this new branch of the Philippine tobacco industry. Making possible the employment of families throughout the year, it settles the labor permanently on the estate; and the legume crops, grown during off-season months, replenish the soil’s fertility so that year after year the same fields can be utilized for tobacco without wearing them out. But besides the Virginia tobacco, main objective of the estate, Orinoco and Turkish tobaccos have been produced this season with favorable promise. Trial crops were grown during the 1932-1933 season. All being well, commercial areas were seeded for the 1933-1934 crop now yielding a heavy harvest. Fields are prepared by tractor power, oxen pull the cultivators. The rolling surface of the fields precludes drainage problems. One thing to be noted in connection with the current crop is that, heavy as it is, it suffered from the excep tional dry weather of November and December. Offsetting this have been the showers persisting during the first months of this year, showers that were hardly needed for the crop’s maturing. Officers of the company have no idea of resting with the production during next season of a crop from 800 or 1,000 acres only. They plan putting the entire estate, some 5,000 acres, into tobacco as early as possible; and, looking to the welfare of the industry, they are encouraging neighboring owners to study their methods of planting, cultivation and curing, and to plant cigarette tobaccos, Virginia particulary, as the crop of main dependence. The effort helps in the so lution of the Ilokos migration problem, intensified by the pause in Hawaii’s labor demands and the exclusion of Phil ippine labor from the States under the new commonwealth independence act. Some 150 to 200 Ilokos families will be settled on the estate to produce next season’s crop. 8 THH AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 Progress enough has now been made in manufacture of Philippine rattan furniture to assure it a definite place in the islands’ commerce. Only the volume of trade that may be built up remains in doubt, depending, as it does, on certain factors not yet present in the industry. Several flourishing establishments, making the new rattan furniture, exist in Manila. Some look only to the local market, one at least seeks and drums up custom from abroad, both in America and Europe. At the basis of this industry is the taste of the American woman for furnishings of exotic attractiveness for the home. She found the old reed furniture made here flimsy and short lived; it was made of split reeds, often of the pulpy inner portion rounded into form for twisting and braiding and binding by being pulled through steel plates with holes of the necessary size in them. Such material frayed, molded and gathered dust; such furniture soon went to pieces—the whole effort merely produced the cheap and undesirable, the unsatisfactory, and the Amer ican woman no more than tolerated it. Often she did less. From the Philippines she turned to China, where, importing the canes in good part from the Philippines, men got them into better form than they did in Manila. Fan chairs, even entire porch sets, were bought in Hongkong and imported into Manila under the tariff rate of about 20% ad valorem. But China too made cane furniture that was but short lived. The workmanship of it was hasty and faulty: joints fell apart, wrappings came away from vital parts they were made to hold together, and it was often found that second-rate material had been concealed under goodly exteriors. Insects ravished such furniture, as they did the old sort then Manila’s almost exclusive output. Finally, however, there were enough bel ligerent graduates of women’s colleges among Manila’s young matrons, particularly in army and navy families, to compel and encourage improvements. Instead of meekly submitting and buying what was offered, these women sketched designs and left orders with the shops. Their commands were direct: “You will please make the chair as I have drawn it, and only of the material I have selected—what you have shown me. Then I’ll see if I like it.” A harsh spur, perhaps, but it hastened reforms in the making of rattan furnitur'e. And now this furniture, as made in Manila, has hardly a rival in the world. Workmanship is honest, prices invitingly low, materials whole, seasoned, even tempered into keeping shape, and of course only of the best. The demand is for the stout Palawan rattan, diameter about an inch, put together with the first rate split rattan thongs of Luzon—aside from aid of the mortise and tenon, glue, screws and nails. Smaller rattans, but whole ones, serve their proper functions in backs and bottoms and sides of things; they are relegated from the duty of supporting weight or pretending to keep shape. She would be an unwise woman now, who went away from Manila for her cane furniture. The industry here is (Rattan Products Mfo., Inc. Photo) Examples of Good Manila Rattan Furniture at her feet, awaits her bidding. It is her creation. She indeed didn’t capitalize it, but her whimsy brought it into being; and though the mountain-dweller in the wilderness of Palawan and the Chinese trader at Puerto Princesa have perhaps never seen an American woman, they know her demands in rattans and have learned to live up to them. Thus she has served her sisters in other parts of the world a good turn while serving herself. A demand for the product of one rattan-furniture factory in Manila has developed in Holland. Prices and high freight charges are practically not regarded; it is this choice furniture and it alone that is wanted. Now Holland is so situated as to be able to supply herself elsewhere with such products. Then why does she come here for them? There can be but one answer. She comes here for the new rattan furniture because it is choice; it is at once tasteful, low-priced and substantial—it is distinctive. Designs vary widely and embrace all sorts of pieces, everything in the way of furniture: a desk, a stool, a table, a bed, a lamp; and sets, of course, either for porches or rooms. Often the rattan is in combination with hardwood, and again the effect is tasteful yet striking. Divans, these are low, deep and wide—the ulti mate in what they should be. Lounge chairs, here again plain pagan comfort; and in contrast, a desk and chair, perhaps a light added—all as prim as a lace collar. Banishing her grandmother’s walnut what-not to the attic, the American woman had the burden of its empty corner on her conscience. This made her adept at designing corner pieces; and the Manila shops now make these pieces in rattan, or rattan and hardwood, so that at simple view they are almost irresistible. Working in unattractive offices, the American woman has thought long thoughts of being as practical as the French are, for instance—of abstracting ugliness from her sur roundings. So with the rattan writing-desk made in Manila goes some cunning receptacle for papers —a transformation of the old wire basket. Now rattan chairs demand cush ions, beds mattresses. For these too the new Manila shops have the best of material, kapok, our native tree cotton, coverings of indianhead. Kapok is clean, odorless and resilient; moisture is so abhorrent to it that it is the preferred material for life preservers. Used for cushions and mattresses for rattan furniture, it is one tropical forest product supplementing another; in other words, it is precisely the upholstering good taste would choose. One city where there is much demand for Manila’s best rattan furniture is Los Angeles. One factory reports regular and increasingly large orders from there. The demand brings up the question whether the furniture might not be made there, or rather assembled there, and shipped from Manila either partly manufactured or in knocked-down form—necessarily at much less freight cost than the wholly manufactured product is charged. This question is being studied in relation to the Pacific coast demand. It is also related to the possibility of devising machines to effect some of the work. It is now all handwork, even the bending of the canes is done with blow-torch and wood-clamp; and the tempering, for fixing shape and hardening, is achieved by application of the torch from time to time while a piece is in the making. It may be that the ingenuity of the shopowners will be able some time to devise tools to lessen the handwork of their craft. But as you look over the shops, you doubt it; at any rate, the skilled workmen have set the tools a high standard. Its products tasteful and substantial, the in dustry may now be considered well launched; from this point it is only a matter of going ahead. And so the largest factory reports, three floors occupied, scores of workmen busy, and orders, largely for the export demand, well ahead of the output. June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 9 Money Doctrines and the Current Place of the Peso By R. B. Blackman * Trade, savings, and active capital have more to do with a money's stability than so-called gold bullion reserves The proximate advent of the commonwealth government in the Philippines has aroused discussion as to what to do with the peso. The best answer is, do nothing with it at all—leave it where it is, firmly tied to the dollar, and give your real attention to commerce. The theory that a country’s pros perity and security depend on its possession of huge stocks of coined or volume gold is a relic of the old commercialism of past centuries. It has been completely discarded by eco nomists. Ancient nations acquired gold, other than that from their own mines, chiefly by pillage, indemnities, tribute and taxation. But as their vitality declined, citizens, and merchants from other coun tries and in other countries, with interest therein, con verted their goods into gold, silver, jewels and like chat tels, for secreting or sending or carrying out of the coun try. The exhaustion of metal money and bullion stocks was provoked by political uncertainty, military decline, or other factors; but in itself it was not a cause of national decline. Under the old mercantile theory, it was believed that trade of one country with others must show a favorable balance, that exports should exceed imports as much as possible, and that the balance must be collected in gold and held. A rich nation was believed to be so only because of its large gold stocks. But we know now that nations may develop prosperously and securely on very small gold stocks, and are, indeed, much more likely so to do than if their metallic money were plentiful. The factors for development are natural re sources, freedom, political ability, industrious habits and general confidence. These are also the essentials of stability after development has matured into steady production and trade. When a country is being developed by foreign capital, there must, during all that period, be an unfavorable balance of trade. Goods are imported for consumption' and produc tion, capital for investment. But later, when production is on its feet, the trade balance must be the other way. Exports must exceed imports, and the favorable balance be used for payment of interest and principal on the debts until they are liquidated. Then exports slow down and imports increase, the latter being largely luxury goods which can be afforded H. L. HEATH’S GOLD AND SILVER TABLES World’s 1932 Silver Production in Ounces 1000 Fine Districts U. S. & Poss. U. K. & Poss. All Others Total N. America............ C. America............. S. America............. Europe.................... Asia......................... Oceania and Austra lia......................... Africa...................... Totals............ 23,831,642 149,131 23,980,773 18,356,393 16,043 6,027,854 9,492,726 1,328,323 35,221,339 69,303,054 4,300,000 11,190,340 12,992,940 7,691,657 76,899 105,554,890 111,491,089 4,300,000 11,190,340 13,008,983 13,882,628 9,492,726 1,405,222 164,757,002 Notes.—America’s silver production in Asia was in the Philippines, incidental to gold production. Her 1932 silver production was 14.5% of the whole; Britain’s 21.3%; others 64.2%. The ratio of North America’s total silver production in 1932 to her total gold production during that year was 19.4 to 1; the world’6 ratio of silver production to its gold production was 68 to 1; and the ratio of the silver production of the United States to its gold production 16.6 to 1. World’s 1932 Production of Gold in Ounces 1000 Fine Districts U. S. & Poss. U. K. & PO6S. All Others Total N. America........... C. America............. S. America............. Europe.................... Asia......................... Oceania and Aus tralia ................... Africa...................... Totals............ 2,219,304 229,728 (Philip pines) 2,449,032 3,650,312 18,714 6 364,969 985,971 12,470,498 16,890,676 584,487 82,238 672,760 2,277,068 910,997 8,634 265,481 4,801,715 5,854,372 82,238 691,474 2,277,074 1,505,694 994,655 12,735,979 24,141,486 Per Cent................ 10% 70% 20% 100% Note.—Of Europe’s total 1932 gold production Russia produced 1,990,085 ounces, 10 ounces in 11 or 90.9%. Captain Heath’s comment, “So watch Russia.” because the debts have been paid. There will be, under favorable conditions, a period during which the favorable balance will continue and may be converted into gold reserves —by demanding and getting (if possible) this metal in settle ment of the balances of trade. A nation may be fairly prosperous and amply secure, yet may not be able to command or obtain large stocks of gold. In such case it can’t afford a gold-base currency, but has to tie itself to a stronger country with a gold-exchange currency. Gold exchange service is the true service, and has to be paid for, but, at least in peace, the cost of this service is less than the loss that would result were gold to be held as actual reserve, and, moreover, is safer. This truth points the argu ment for a bank of interna tional settlements where all the world’s stock of gold would be centralized. By means of it international pay ments could be made without transfer of the gold in its physical form. The yearly loss of gold in various ways, especially the irrecoverable losses at sea, would more than repay the cost of such a bank. Two facts favor the plan; first, we know of no other practical base for our cur rencies, whatever gold’s short comings may be; and second, the nations face exhaustion of their natural supplies of gold, and new gold mined year by year falls behind the actual monetary demands for the metal, and as business expands will fall steadily farther behind, thus appre ciating in value. We now know that a coun try needs no more gold than is required to support its credit by free redemption of its subsidiary and paper mo ney in gold. There may wisely be added a certain amount for normal expansion of commerce and for emergencies. Gold in excess of actual needs is not only superfluous but is a real danger to the holding nation. We know our daily money needs, and also the probable limits of fluctuation. In the percentages fixed by law, a certain amount of gold supports this money. The danger of a greater supply of gold than this is the expansion of credit, based on it, to more than prudent •Mr. Blackman, who has retired, is a student of money. From his recent world trip he brought me back "Kemmerer on Money,” Dr. Kemmerer’s latest case for gold. Captain Heath’s tables and letters to me about gold induced Mr. Blackman to submit this paper to accompany the Heath tables.—WR. (.Please turn to page 13) 10 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 The American Chamber of Commerce O F T H E Philippine Islands (Member Chamber of Commerce of the United States) DIRECTORS H. M. Cavender. President K. B. Day. Vice-President John L. Headington, Treasurer J. R. Wilson. Secretary C. S. Salmon J. C. Rockwell E. M. Grimm Paul A. Meyer Veme E. Miller ALTERNATE DIRECTORS E. J. McSorley L. D. Lockwood S. R. Hawthorne F. H. Hale E. E. Selph, General Counsel COMMITTEES EXECUTIVE COMMITTEE; H. M. Cavender. Chairman K. B. Day J. R. Wilson RELIEF COMMITTEE: J. R. Wilson. Chairman MANUFACTURING COMMITTEE: K. B. Day. Chairman F. H. Hale John Pickett C. A. Kesstler D. P. O’Brien LEGISLATIVE COMMITTEE: H. M. Cavender. Chairman K. B. Day L. D. Lockwood E. E. Selph J. R. Wilson FINANCE COMMITTEE: Veme E. Miller. Chairman E. J. Deymek S. R. Hawthorne C. E. Casey FOREIGN TRADE COMMITTEE: H. B. Pond. Chairman E. E. Spellman Kenneth B. Day PUBLICATIONS COMMITTEE: H. M. Cavender. Chairman K. B. Day R. C. Bennett J. R. Wilson BANKING COMMITTEE: C. M. Cotterman, Chairman N. E. Mullen J. R. Lloyd RECEPTION. ENTERTAINMENT & HOUSE COMMITTEE E. J. McSorley. Chairman J. R. Wilson LIBRARY COMMITTEE: S. A. Warner, Chairman SHIPPING COMMITTEE: E. M. Grimm. Chairman E. J. McSorley G. P. Bradford E. W. Latie INVESTMENT COMMITTEE: H. M. Cavender, Chairman K. B. Day J. L. Headinpton J. C. Rockwell THE PHILIPPINE-AMERICAN BALANCE OF TRADE Philippine Copra Exports During 1933 by Purchasing Countries Country Buying Tons, Metric Value, Pesos % of Total United States.. France......... 208,753 59,001 711 203 3,049 22,273 10 5,612 209 JB.991 11,902,453 3,567,996 38,552 12,698 167,532 1,390,018 559 310,508 10,668 511,073 68.60 19.10 0.20 0.06 1.00 7.00 1.80 0.06 2.60 Germany......... Italy.............. Netherlands... Spain............... China............... Turkey............ Mexico............. Totals.......... 308,812 17,912,057 100.00 During 1933 the Philippines also sold overseas some 159,621 tons of coconut oil expressed from do mestic copra, of which nearly all, or 157,509 tons, were sold in the United States for P 18,050,150; and 99,917 tons of copra meal, chiefly to Eu rope, for P2,115,107; and 17,927 tons of desiccated coconut, chiefly to the United States, for P3,365,609. Time of May 7 reports that U. S. soap makers, led by Procter At Gamble, have stocked copra at the current low prices in anticipation of the 3-cent-apound excise tax—that they say will force up the price of soap 25%. A large cake of Ivory weighs 8 ounces, the tax will make the oil in it about Yz cent higher, (%’s above are approximations). During the first quarter of this year the trend of the Philippines’ copra exports continued as the table above indicates it to have been during last yei\r. American buyers bought 42,655 metric tons for P2,096,356; all other countries together bought 26,969 metric tons for Pl,369,309. There is a perceptible revival of European demand, however; with all America’s heavy buying, to be in stocks when the excise tax of 3 cents a pound should apply to coconut oil and others, the position of Philippine copra in the European and Japanese markets during the first quarter of this year, materially improved compared to what it was last year. Twelve years ago America chose to begin buying her desiccated coconut under the flag by placing a duty of 3-1/2 cents a pound on this product, theretofore' mainly supplied her by Ceylon. It is now mainly supplied from the Philippines. Here it is prepared in thoroughly sanitary factories, and as America probably gets it at no great advance over what she for merly paid, the arrangement is likely to continue. In the other of the three main items in the coconut trade, copra meal, America is little interested and the demand is almost exclusively from Europe. America paid the Philippines about P30,000,000 last year for coconut products. She paid them just over P4,000,000 for Manila hemp, and ¥128,657,977for 1,078,596 metric tons of sugar, about ¥125 a ton. The Philippines sold products in the United States last year to the value of 1 * 182,626,053 and bought products there to the value of 1 * 87,080,813. The United States provided a market for 86% of all products the islands sold overseas, and the balance of trade in favor of the islands was, osten sibly, 1 * 95,945,240. But this P95,945,240 was not the true balance of trade. Goods were insured, hot measurably with Philippine companies; goods were freighted, not at all in Philippine ships or over their railways or on their inland waters; Americans bought Philippine goods in the Phil ippines and shipped them to, and sold them in, the United States—we mean American corporations whose gains in this traffic went into the general volume of wealth, not of the Philippines, but of the United States. A Manila manufacturer furnishes this memorandum: "Uncle Sam buys 80% of Juan de la Cruz’s exports on the c.i.f. basis. Juan buys 65% of all his outside purchases from Sam f.o.b. Sam’s ports. When these goods arrive in the islands Juan pays the 65% plus 1/5 more for shipping expenses, or 78%.” Such a commerce is seen to be quite well balanced. American goods arrived in the islands fully manufactured, employed no labor in their further elaboration. Philippine products bought by America employed citvfuls of labor making them into usable manufactures. There is, however, the prospect that certain valuable fields of trade in the Philippines now mainly enjoyed by the United States must be divided with competing countries unless the Philippines take steps in favor of American goods. But it is notable, and equally sensible, that the Phil ippines plan further protection of American trade here. They plan to forego tariff revenue and impose protective duties that will make them pay more for staple supplies in order to demonstrate again, this time to the most stubborn congress with which they have ever had to deal, their willingness to trade with America and their appreciation of the American market for their own products; and this too, when America has limited her market for 3 primary Philippine pruducts and has laid a tax on one of them, coconut oil, of 3 cents a pound. In this the Philippines are giving the commercial world a striking ex ample of enlightened self-interest in trade matters even in face of extreme provocation. For in the first place, it is seen, Philippine trade on its exist ing basis does America no harm, but real benefit; and in the second place, congress is placing the Philippines on the commonwealth basis for 10 years, to be followed by complete separation of the islands from America and therefore a smashing of all the trade based on intranational provisions mutually advantageous and protective. Textiles are 20% of all Philippine imports; cotton textiles, and if iron and steel are added the sum is 30% of all Philippine imports, or perhaps a little more, no other single item summing as much as 4%. Japan is closer to the United States in the Philippine cotton textiles market than any other competitor, as Belgium is closest in the iron and steel market. Moreover, with the lifting of the Chinese boycott of Japanese goods and the advent ol many new Japanese general merchants in the prov inces, Japan tends to extend her textile sales here at America’s cost. It is this tendency the Philippines propose to overcome by further legisla tion, probably by higher duties applicable to all foreign textiles. On her part, America begins feeling, at a very tardy hour, the Philippine textile market worth having. One Japanese spokesman himself has recognized this question as one purely intranational; one which, adjusted between the Philippines and the United States, is the concern only of the parties to it. The same authority, the Japanese consul general, assumes that the Philippines will pay higher prices for textiles if they exclude Japan’s; but of course the Japanese approach this discussion under the awkward handicap of 1933 trade balance P15,000,000 in their favor—their case is thus embarrassed from the outset. But it is desirable to point out that whether America has 60% or 65% of the Philippine import market, or all of it, is beside the point when the ques tion of her prosperity in this commerce is viewed broadly. The crux of the problem is the country’s own prosperity, primarily dependent on public confidence and a reasonably secure future, and secondarily upon active dem and throughout the world for staple tropical products. To quarrel over fractions of a waning trade would be to ape Esop’s dog quarreling with his shadow over a bone—losing the bone in the attack. It is the lion’s share of an expanding Philippine trade that would be worth while na tionally to America. Here the major responsibility is the commonwealth’s. It will begin, of course, when public confidence is at its lowest. But there are many favorable factors. One is the power of the common wealth itself, one the continuing sovereignty of the United States—until independence comes. When realty values are restored and commerce in such property is active, the commonwealth will know it is making progress and winning confidence at home and abroad. Meantime America should find her trade here not merely advantageous, but worth more attention than government has given it in the past. June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 11 Placer Gold in the Philippines: Its Probable Future On finding a placer, the first step ought to be its thorough exploration as to richness—then consultation of experts The Paracale region is the most famous placer gold region of the Philippines. It was being exploited by Filipinos when the Spaniards came to the Philippines in 1565 and has been steadily and almost continuously exploited since that time. Large dredges worked it profitably for years in the earlier part of the American period. It is not yet exhausted; and should it some time seem to be exhausted, no doubt a few seasons of flood and erosion would enrich it again. Placers in Colorado, supposed to have been worked out 40 years ago, have been enriched again by flood and erosion and are once more being worked. Many men are of the opinion that aside from Paracale there are probably few great placers in these islands. With this opinion this magazine does not hold; on the contrary, it believes that competent exploration will reveal large areas of valuable placers here. This belief is not, of course, susceptible of proof except as the placers are further explored by men expert at the job. The Philippine gold industry, like the islands’ farm industries, has been re tarded in the past by the general inep titude of the men who prospected its possibilities. It has generally proved true that both placer and lode mining here have rewarded the effort of the thorough-going expert. As our mining community increases and avails itself of the services of more such men as have surveyed, explored and developed the mines we now have, net results should be correspondingly better. There are placers of all types in the Philippines, lots of them. There are small ones where one or a few men can sluice the sands and earn either fair or high wages. There are larger ones of hundreds of hectares (1 hectare is about the area of 2-1/2 acres) that might be worked with large modern dredges were access to them not mountainous and difficult. There are placers quite rich enough to work in the Benguet district, were the physical factors not too costly to overcome. In that very district, because of the physical factors, not sufficiently probed before publicity and capitalization were undertaken, a decently rich placer is, at least for the moment, abandoned. There are placers in Mindanao, far south, and in the valleys of the Abra aind the Cagayan, far north. Out of the moun tains along the Pacific coast of Luzon, every stream bears gold and it is a reasonable conjecture that placer mining may some day be actively carried on along large sections of many of these streams. The basic drawback at the moment is that nearly all of the essential expert exploration of the gold-bearing streams is still to be done. About all that is of record to date is the desultory panning of the sands by lone prospectors here and there, the finding of colors and the quick cry of “Gold! I’ve found gold!” Gold, yes; and pretty generally everywhere. But the cold fact is that much placer gold so discovered has journeyed far, has been ground exceedingly fine, as if in the mills of the PHILIPPINE GOLD STOCKS June 13th Companies Sellers Buyers Ambassador................... .05 .045 Antamok Goldfields. .. .50 .48 Atok Central................ .08 Atok Gold..................... .095 .09 Baguio Gold................. .255 .245 Balatok Mining........... 25.75 25.25 Benguet Consolidated.. 24.00 23.75 Benguet Exploration... Benguet Goldfield........ .14 .09 .135 Big Wedge................... .115 .105 Demonstration.............. .10 .09 Equitable....................... Fortuna......................... .06 .07 Gold Creek................... 1.25 1.00 Gold River................... .18 .175 Gold Wave.............. .09 Golden Eagle................ .65 .50 Ipo Gold....................... 2.20 2.00 Itogon ........................... 3.90 3.80 Midas Mining.............. 1.50 Mindoro Gold Co........ .12 Mineral Resources....... .09 .08 Montezuma................... .40 .35 Padcal Mining............. .85 Philippine Chromite... .07 Placer Operating.......... Prosperitv Placer......... .70 Salacot Mining............. .105 .10 San Mauricio................ .065 .05 Shevlin Gold................. 1.00 .75 Southern Cross............. .25 States Group............... .09 Suyoc Consolidated.... .38 .37 United Paracale........... .10 Universal....................... Virac Exploration........ .115 .10 Zamboanga................... .09 gods, and is not recoverable save at exorbitant cost. But this does not argue, necessarily, that many other placer de posits can not be practically exploited. On the coast of Surigao an old-fashioned Australian dredge is making money for its owners right now. Some of the machinery companies have sold a number of machines to small placer operators; these practical machines are in opera tion and doing what is claimed for them, saving and lightening labor. Some of them are of the testing type, helping you recover gold while exploring your property; and they are light and portable. Others are heavy, of comparatively large capacity, and transportable only in parts, where roads are lacking, as in mountainous regions. If you are without ex perience in manipulating the pan and the sluice box, a placer machine, doing mechanically what muscle, skill and the sluice box does, may be the solution of your difficulties. Buying a machine, be sure you can get it to your property and set it going. In the mountains any machine as sumes 10 times the weight and cumber someness that it has in the display room of a store in town. The machines come equipped with engines, separate from the machines themselves. If you al ready have an engine good enough to do the work, so much the better. A capital of 1 * 2,000 is enough to buy a small machine and get it going nicely. Larger machines cost about 1 * 7,000. The experts consulted when this paper was being prepared said that there is a good deal of inexpert explora tion of placers in the Philippines, with the result that the information obtained is misleading. It is quite misleading, for instance, to depend upon assays of sands or concentrates from placers. The mis leading step is the assay. To explore a placer intelligently, use the miner’s pan. Go over the property superficially at first, panning here and there down to bedrock and counting (and making careful note of) the colors from every hole you pan. In this process, which is preliminary, you are trying to determine the axis of the placer; which we suppose to be the general flow or laid-down stream of the deposit. You then proceed more carefully, being engaged in a real test of the property for richness in gold. You block the property out, say a hectare of it, at intervals of 10 or 15 feet. You penetrate to bedrock at each intersection of the blocks. You measure your gross material, at each and every hole. You then pan all of the material from the hole at which you are working. You recover the gold, using mercury to collect the finer particles. Then you rid the gold of the mercury by use of a dissolvent. You now have gold of a sufficient fineness to count on. Or if you wish, you can have some expert deter mine the fineness for you. Now weigh your gold. Compare this weight with the gross measurement of all the material from the hole whence (Please turn to next page) 12 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 Placer Gold . . . the gold came. You know the standard value of gold, S20.67 an ounce. Comparing the value of the gold with the gross measurement of all the material whence it came, you can readily determine, from the combined data from all the holes sunk over a hectare of the placer, what that section of the placer will run per cubic yard. It is plain enough that honest exploration of placers entails much hard work. However, from the very outset you are recovering gold. If you make wages, or the men doing the work for you turn in gold enough to cover tneir wages, keep on until you definitely know what your placer can produce. Working thus diligently and keeping careful data, supplemented perhaps by a map with the borings numbered on it, you will have a report in the end that will deserve the attention of men with money to finance genuine placer work. Add something about the lay of the country, whether the placer has been consistently panned by the local inhabitants in the past, etc., and you are in a position to speak for your interests. Who knows but that in exploring placer ground in this way, you will come upon lodes? It is this kind of placer prospecting that this magazine believes will reveal numerous valuable placers throughout the islands where large dredges may be put into operation. Initial success with one would make financing of others comparatively easy. It is deemed a grave injustice to our mining industry, our placers especially, that in some instances the financing of projects has been precipitate. For it has given our placers a setback, condemned the possibly good ones along with the proved bad or impracticable ones. However, we hear of high values (placers yielding 35 cents to 50 cents per cubic yard are big money makers for big modern dredges) in placers in Abra and some in Mindanao. There, then, let exploration be thorough. In Mindanao, once 3 separate islands, (E. H. Taylor’s observations on the reptilia of Mindanao), valuable accessible placers would, it would seem, be a logical dis covery. The one at Liangan, where the dredge is at work, may be the forerunner of many. Philippine Sugar’s Position A conjunction of circumstances is adversely affecting the Philippine sugar industry, which has the United States for its sole export market. Of primary importance is the Jones-Costigan Bill Quota Act, under which the Philippines are prohibited from shipping more than 900,000 long tons a year, into the American market, dating back to January 1934. The industry besides producing 100,000 tons for local con sumption reckons to have available for export this year 1,200,000 tons; to apply the above quota as of January 1, will leave a possible carry-over of 300,000 long tons. Practically all of the 900,000 tons applicable to the 1934 quota has been shipped and there are close to 200,000 tons of sugar stored in the Philippines which have an uncertain status under the JonesCostigan bill. Some six mills still have to grind a large per centage of their crop and the sugar to be pro duced by them as well as the sugar on hand in the Philippines maintains a very indefinite status. The local market price at which some of this sugar is being offered already reflects this con dition and it may be correctly assumed that when the local price of sugar is reduced, local consumption will increase. Only the most optimistic observer could expect an increase of 50% in local consumption, which would still leave 250,000 tons of the 1933-34 crop to find an export market. This might be a good time for the islands to test the export field for both centri fugal and refined sugar. Nothing definite of this character could he accomplished without cooperation on the part of centrals and planters on a large scale, because it is not to be expected that an individual will accept the low prices offered in the China market, for example, for sugar when his neighbor still has hopes of being able to sell his sugar next year in the highly protected American market. Whether to hold the entire surplus of 250,000 tons until the 1935 American quota becomes available or whether to market a part of this sugar elsewhere, is a vital issue which can be determined only by cooperative action either from within the entire industry or under Govern ment control. If the entire surplus is carried over to 1935, there will be available from next year’s crop only 650,000 tons for the American market. If all the cane now in the fields is milled, the produc tion this year will be as great as this past crop, or greater, therefore at the end of next years crop, provided all cane is milled, the surplus will be double of what it is this year and would undoubtedly reach a half million tons. If the cane is to be milled, it might be well to bring about cooperative action to develop foreign markets even on a small scale without delay. The only other alternative is not to mill the cane. A most interesting feature arises in the Tydings-McDuffie bill which will supercede the Jones-Costigan bill as far as sugar matters are concerned as soon as the commonwealth govern ment becomes operative. Under this bill, sugars in excess of the Philippine quota may be shipped to the United States provided they pay the full duty. There are a few countries such as Santo Domingo which have no marketing pre ference anywhere. If prices are high enough in the United States, Santo Domingo can always sell some sugar in America, paying the full duty, she can also sell sugar in Canada. Philippine surplus sugars could follow this example. This is not an argument in favor of continuing the production in the Philippines on its present basis. Technical differences between the JonesCostigan bill and the Tydings-McDuffie bill as they apply to the American market may have no practical value. Sugar production including the next crop should be reduced “until it hurts”. It will be easier to build up production if markets which at present have only an uncertain outlook should develop promisingly. Any legislation to control sugar production should bear in mind that the welfare of the Philippine people would be increased if such a vital food product as sugar becomes available to them at more reasonable prices than have prevailed in the past. Therefore, there should be ample allowance made for Philippine home consumption on an increasing scale. Moreover, the possibility of developing markets outside of the United States should not be entirely overlooked and governmental action should be flexible enough to provide for the development of such markets. In other fields of agricultural endeavor, the Filipino people have shown remarkable ability to “take punish ment” and otherwise adapt themselves to chang ed conditions. The sugar people are the most highly trained agriculturalists in many respects and that they shall use their knowledge of scientific agriculture in other directions than sugar to good advantage may be fully expected. The situation is anything but hopeless. It is time that the Philippines should join in the world endeavor to curtail sugar production and bring about higher price levels. The situation demands self-sacrifice and unselfishness and a willingness to abide by government rulings. In other words the situation offers a splendid test for a demonstration of civic obedience and willingness on the part of all to cooperate for the common good. Philippine Folklore Rich There has been' a good deal of inquiry of late, at the chamber of commerce, for Philippine folklore; and some of these inquiries betray an assumption on the part of the inquirers that there is a dearth of folklore here. The opposite, of course, is true. Traditions of all Philippine peoples abound with richly imaginative legends and folklore; quite a good collection is in a volume sold by the Philippine Education com pany, on the Escolta. But a great deal has not been formally published, there is still the oppor tunity for some diligent research in Philippine folklore and the publication of a new volume of it. Among all Philippine peoples, for example, persist stories of the creation, of the fall, and of the flood—all these antedating the intro duction of Christianity into the islands. It is suggested that the right place to go for folklore material of the Philippines is to the University of the Philippines, where, in conve nient nooks of the new library, the references may be gleaned. The study should include, of course, interviews with Dr. H. Otley Beyer, of the department of ethnology and anthro pology. Considerable folklore has been published in our own pages, from time to time, but, com paratively, only a few of the more striking pieces. To what we have the earnest researcher is most welcome. We don’t much of that sort of thing nowadays. —W. R. Britain Coming Out of It Extracts from a cultured Welshman’s letter: “We seem quite definitely to be getting out of the wood here. One really feels that the depression is lifting. The government’s financial policy has been a success, as you have heard, and the year closed with a handsome, though so-called,, surplus. Anyway, there is 6d in tne pound off the income tax, which should be a fine leg-up to industry; and half the salary cuts in the civil service are restored, with half a promise of full restoration next year. But we are still without any real policy for fiscal reorganization, and the attempts made to work out some sort of a plan with the dominions don’t appear to have nad much success. “Situated as we are, perhaps, planning is difficult; but some reorganization has been attempted at home, notably in agriculture, but with questionable success. The iron and steel industry has been welded into a whole, and there are hints that if the mineowners and the cotton magnates don’t get busy and reorganize their industries soon, it will be done for them. “There are many who feel that though Ja panese competition and the circumstances of the war are important contributory causes of the decline of our cotton trade, the rock-bottom cause is lack of rational organization in Lan cashire itself. It is an old industry, of course, and conservative to the last gutter. Perhaps a conservative government will change all that. “It is a curious government we have. Of course it is no longer National; indeed it never has been. It is run by the old crowd. Its back benchers are numerous and with nothing to do, they go chasing after our wholly admirable B. B. C. and all kinds of footling things. A section headed by Churchill and Lord Lloyd (formerly of Bombay and Egypt, governor of both) have long opposed the government’s India policy, which is mainly MacDonald’s and Baldwin’s, but to no purpose; the scheme will go through in the end, though no one is in a hurry while the depression lasts. Burma, too, will get separa tion. That, I think, is very sound; its connec tion with India is an accident of history. “Actually, in the government MacDonald is a mere figurehead. I suppose genial old Baldwin is the power, though Beaverbrook in the Daily Express has never dropped his campaign to turf Baldwin out of leadership of the Tory party. Who would succeed Baldwin as its leader I couldn’t say. Neville Chamberlain is not a man of attractive personality. It looks now as though the government will run its five-year course. Labor seems utterly down and out now, again without real leadership. But no doubt there will be a great reaction to this government when the general election comes. Unless we are right out of the wood by then and the National government will be safe on the strength of the kudos won. “But I seem to recall that Keynes once said ‘the last depression lasted 500 years—the middle ages!’ so we shan’t live to see it out! June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 13 Money Doctrines .... (Continued from page 9) limits. It is styled credit inflation, but in a gold standard country it can eaually well be styled a gold inflation. Were the United States suddenly tocome into possession of immense new gold stocks, and to coin this gold and use it for discharging its own obligations, for even one year, the in crease of circulation would be, in effect, an in flation, and the value of gold would fall and soon be reflected in rising prices of goods of all kinds. It would be purely gold inflation. Every period in history since the general adoption of gold as money, when the proauction of gold has notably increased, has been a period of rising prices and higher cost of living. Under our system, that of private property and indi vidual liberty, with its wide range of the distri bution of money, a rise in the cost of living is a calamity for a large portion of the public: whose wages and income of every sort are paid in units of the depreciated currency. It would be no consolation to be paid your wages or salary in shiny gold coins, if their buying power were short of your needs and habitual comforts. The fact that we have had several such gold inflations, and are right now suffering from a very serious one in the United States, is ample argument against the old theory that a country can never have enough gold. The great influx of gold into the United States after the world War created the base of a dizzy pyramid of credit that introduced a period of unguarded speculation, inevitably followed by a final crash. It was in reality a gold infla tion, due to war-debt payments and trade balance settlements in gold, and to voluntary transfers of foreign gold to the United States for security. It induced shortlived prosperity, as gold always has when concentrated in any country. We now pay for that prosperity in a good deal of community and individual unhap piness. In another way too, centralization of the world’s gold under prevailing conditions reduces international commerce to very low levels: to the buying of actual necessities in limited quan tity. The United States has thus lost most of its postwar foreign trade, and most of what it has left must be supported by extensions of credit to the purchasing nations. Ironically, if not tragically, we have at once the largest share of the world’s gold and the largest problems of lost commerce, unemployment and economic insta bility: and we are now learning that gold is not wealth, nor prosperity, nor even security. The function of money is to carry on produc tion, trade and commerce. Only by freely circulating can it do these things. When it is drained out of active circulation and hoarded, partial or complete stagnation of trade comes about—millions suffer for work. Bankers have always been suspect as monopolizers of money, and governments themselves fluctuate between reckless spending, resulting in inflation, and parsimonious economy provoking drastic defla tion. As man chooses to look upon money as a mystery, he learns about it only by means of the harshest experience. It is properly a universal agency of exchange of the products of energy, that of man and his machines, exerted in the growth and production of the goods of commerce. A money is good as long as it passes current, and it Keeps in that desirable state in all coun tries where demands are sufficient to the volume of energy available for the growth and produc tion of goods. "The Philippine peso will be good so long as debt doesn’t run too far ahead of current production, so long as the country buys only in the amount it receives for all it sells. Tied to the dollar, the money of the United States, best customer of the Philippines now, as she must continue to be, the peso’s validity is secure. It looks as if the world may have seen its last free gold market, that of London up to the World War and London and New York since the war and up to their destruction as such markets by Great Britain and the United States abandoning the gold standard and placing embargoes on their respective gold supplies. In the case of the United States the embargo became actual confiscation of all gold by the government—our gold stock was made one common fund. This was really to embark on strange seas. Like Columbus, however, we must sail on; to turn back is impossible in honor or safety. Any party that should make “Turn back!’’ its slogan, for immediate triumph, would pay the cost of its rashness, very probably, in total destruction of itself while doing the country inestimable injury. We may change captains, we can hardly change the course. This is precisely what Americans at home seem to feel. Few and anemic are the protests over what Roosevelt has done with gold. In stead, men have thrown the burden of recovery upon the President and are inclined to stand behind his efforts; and for their gold they accept paper currency redeemable in lawful money. Men do this because laissez faire played them and the country so false, and dealt them all such sudden and terrific blows, that they can’t forgive and go back to her. What is wanted is restoration of trade. For this boon men concede Roosevelt his right to hoard the country’s gold in its federal treasury. So many nations embargoing gold in the hands of their governments and trying to do so with that in vaults and banks, little free gold is left for international payments. We effect inter national exchanges practically on the commodity value ratio of foreign exchange, but at the same time we test the new weapon of equalization funds by -which means each commercial nation hammers down the international exchange value of its own monetary unit and raises the value of its rivals’ units. Advantage is thus sought for exports. As the domestic value of the home currency can’t be lowered too much, the trick is to bull the currency of rivals by supporting it on the exchange markets. England supports the franc and the dollar, making them dearer and keeping her pound as cheap as pos sible: the advantage enables her to scale some of the tariff walls in other countries—a game that others too can learn to play. Roosevelt learned quickly, and refused to peg the dollar on the world exchanges until America had learned the approximate point at which this pegging ought to be done; and it was a surprise to many chancelleries that America would do such a thing. But we now have an equalization fund of our own, more than 2 billions, a weapon only for our defense, but one that may be used equally for the offensive. The old question “What is a dollar?” was never satisfactorily answered. But now we have a new one, “What about gold?” And every 20 years or so we revive the one that frequently seems to play out, though never quite, “What about silver?” All of which ties in nicely with Captain Heath’s bullion tables. Looking .... (Continued from page 6) votes they went to work instead of to the polls; and where they thought that all their votes could not bring through their candidate to victory, they thought it useless to cast them; and finally, in the depths of practical politics, an llth-hour trading of a candidate off might keep many voters home. The Philippine people have acute political sense, and in politics are realists. A very competent experienced observer gives three factors that explain the majority’s triumph: the personal magnetism of Quezon, their leader; their power over patronage; and, this most of all, their name, Anti. They appealed, with their opponents, to What has proved to be a conser vative electorate respecting the main issue of the campaign; namely, final and complete separa tion from the United States. For this campaign, before such an electorate, they had the better word, anti. On Luzon it comported with public opinioh. Elsewhere too, it was not far from public opinion; and while on the basis of districts represented the majority in the new government will be sectional, in all it represents a majority of the people. Another Adams reference will be pardoned in touching briefly upon Mr. Quezon’s magnetic popularity. His arguments, not always con sistent, invariably capture his audience. His dialectics are vulnerable; no matter, he parries on and wins; his platform is often enough in congruous, planks by no means fitting, but it serves him better than perfection serves another. And so (without at all comparing man and man, for personal comparisons are odious, nor career and career, but characteristics only) it was with John Adams, who began as a republican and turned federalist, who helped James Madison and the rest impose the constitution on the several states. “True eloquence, indeed,” said Daniel Web ster, describing John Adam’s forensic power, “does not consist in speech. It can not be brought from far. Labor and learning may toil for it, but they will toil in vain. Words and phrases may be marshaled in every way, but they can not compass it. It must exist in the man, in the subject, and in the occasion. Affect ed passion, intense expression, the pomp of declamation, all may aspire after it—they can not reach it. It comes, if it comes at all, like the outbreaking of a fountain from the earth, or the bursting forth of volcanic fires, with spontaneous, original, native force. The graces taught in the schools, the costly ornaments and studied contrivances of speech, shock and dis gust men, when their own lives, and the fate of their wives, their children, and their country, hang on the decision of the hour. Then words have lost their power, rhetoric is vain, and all elaborate oratory contemptible. .. .The daunt less spirit, speaking on the tongue, beaming from the eye, informing every feature, and urging the whole man onward—right onward to his object— this, this is eloquence; or rather, it is something greater and higher than eloquence—it is action, noble, sublime, godlike action.” Webster, of course, meant the word godlike, that slipped too quickly from his tongue, in no fulsome sense, but only in the sense of exerted power; he referred to the gods of achievement: the task of the Federalists in America, when she was establishing constitutional federation, was in deed Herculean; and a similar task confronts the Philippine people now, and must involve momen tous decisions one after another. The Philippine people have tried to bring the hour and the man together. Adams was tried and not found wanting. Quezon is still to be tried. Immediately the majority and the minority are in vital combat again, this time for control of the constitutional convention. The general elections gave the majority first blood, distinct advantage. They may now say to the voters, “Don’t bungle things by having the convention one way and the legislature another. We have the legislature, which ought to work harmo niously with the convention; and so, for the convention, seat our delegates.” They will work, naturally, for every one of their delegates. They will get some seated, probably a majority. But the public again has the assurance that the convention, as is the new legislature, will be substantially divided. There will be a majority, with a powerful wideawake minority, and able and persistent leadership on both sides. It is important. The convention begins the government that is to last at least 10 years, perhaps the government that will be the per manent one. To restore confidence, to revive business, on which life everywhere is primordially dependent, these are concomitants of a success ful constitutional convention. As has been suggested, the election, either way, could not have failed to put into the legislature and the convention good and competent men. There the country will soon see them, making use of their greatest opportunity for genuine fame, never to come again, and discharging the gravest responsibilities of their respective careers. So went the general elections of 1934 in the Philippines. Dictatorial power, but still vica riously got from the people; and no cult power, no nazi-ism, fascism, communism. While so much of the rest of the world turns toward the panaceas of cults, the Philippines achieve a pacific general election and turn to the merely democratic task of making a constitution in accordance with lawful authority granted them by congress. 14 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 Commercial Aviation Booming in the Philippines Kneedler to America for more planes for taxi trips; the 2 big com panies consistently well patronized We are glad to notice the enterprise of two young men in aviation in the Philippines, Don Kneedler and his partner T. C. Montee, of the Aerial Service Co., Inc., formerly with the Philippine Air Taxi Company. Flying no fixed routes, but carrying passengers to whatever points they wish to go, these fliers have gained business enough to warrant expansion of their facilities. Don Kneedler has gone to America to buy a Fairchild cabin plane for them, and 3 others that they have sold here. These planes carry 3 to 4 passengers besides the pilot, have a high cruising speed and are equipped for blind and night flying: they are Kneedler and Montee’s choice for their taxi business. Wing flaps enable these planes to land and take off in fields of small area, the flaps brak ing the speed while landing and speeding altitude when taking off. All commercial aviation com panies report excellent business during this season. Wm. R. Bradford of the Philip pine Aerial Taxi Co., Grace Park, Manila, reports heavy patronage throughout the season on their regular Manila-Raguio run, that has kept their two 5-passenger Bellancas busy. On May 7, for example, 29 passengers were carried; the best day of the season, prior to May 7, counted 33 passengers. The planes make from 2 to 4 trips between Manila and Baguio daily. This regular passenger service is a great boon to the mails as well as the business public. Several thousand letters are carried per month. To improve and extend the mail service, boxes will be installed in the downtown district, especially along the Escolta, as soon as formally approved by the posts administration. The boxes are in readiness. The company has also sold 3 Waco (“a” as in are) planes for private use. J. H. Marsman bought one to use between Baguio and Manila and Manila and Paracale, and so cut time in traveling between his office in Manila and his mining prop erties. J. R. McMicking bought one; he is a licensed aviator and will be his own pilot. Benito and Jos6 Razon bought one, for use of Andres Soriano and Antonio Roxas; the latter is the owner-manager of a plantation and the sugar central atNasugbu, Batangas. This year, therefore, aviation in the islands Don Kneedler steps forward into the range of the private owner using air planes as he could use motor cars. It may be an old story elsewhere, but it is a new one here—at least on the scale of 3 planes from 1 company during a single season. Manager Louis Weinzheimer of the Calamba and del Car men sugar centrals is among the business men who have gone over to the airplane for their provincial trips. He now habit ually flies between del Carmen and Calamba, and has accom modated both places with first rate fields at the free dispo sition of all aviators. Judge John W. Haussermann has had the thrill of his initial flight from Baguio to Manila. The virus spreads. Perhaps the most used regular airline in the islands is that of the Iloilo-Negros Air Express between Iloilo and Negros, a 15minute run from Iloilo alternately to Bacolod and Pulupandan, Oc cidental Negros, for which the planes, 3-engined Stinsons, are nearly always crowded—often with extra seats in the aisle. The same company runs Stinsons 3 round trips weekly during the season, and less often throughout the year, be tween Manila and Iloilo, and makes weekly trips fipm Iloilo to Zamboanga. Its manager, Francis co A. Rivera, in Manila, reports good traffic throughout the present season on the Manila-Iloilo run, where one way fare is f * 49 and round-trip fare is P88.20. The regular Baguio-Manila fare of the Philippine Aerial Taxi Company is P25 one way, F45 the round trip. The hour’s one-way trip compares with a little more than 2 hours from Manila to Iloilo. Kneedler and Montee operate out of Baguio northward, taking passengers from Baguio to points in Ilocos and the Cagayan valley—as from Baguio to Aparri or Tuguegarao. They, as well as the companies maintaining planes on the regular routes specified above, take commercial passengers wherever landings can be made and takeoffs effected for the return trip. This taxi work, for all practicing aviators in the islands, implies keen meteorological sense, a familiarity with air conditions over the Philippines that didn’t exist, outside the army, until private enterprise inaugurated commercial flying 3 years ago. It is serving industries many good turns, the mining industry particularly, while making Baguio a commuting center from Manila. Topics Photo June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 15 May Rains and New Termites May’s rains and nature’s perennial urge made the termites fly. When termites fly in at the window, good property soon begins flying down their gullets; that is, good wooden-house prop erty; or anything that is cellulose, even a book, in a place dark and moist enough to make termites a suitable homestead. The flights of the termites had a nuptial purpose, that was in fact their only purpose. Tnat is why, around every lamp left burning, so many boy and girl termites fluttered and fought so persistently; yes, even unto death did the battles rage—each reproductive, as science designates these fliers, seeking to live his life (or her life) in his own way (or her own way) if they could find a mate to cut in on it. To this end they flew, all the girls going to the light where they might be seen and captured; and all the boys following in full cry; and you captured girls and boys alike by holding a receptacle of water a little way below the light and tempting them to dive toward its reflection in the water—for they promptly did so, and promptly drowned. This wasn’t so hard on the boys, doomed to give up the ghost in tragic ectasy the moment they should fulfill their biological function. Though there be termite colonies in which the consort lives on, with honor at court, richly provided for by the workers. But it was most hard on the girls, each one of whom had no other intention, in flirting so brazenly around your light, than to wed at once, declare herself a queen, and make a realm for her royal person in some post, joist, beam, book, banister or other cellulose appurten ance of your home. There she planned to enthrone herself, eat voraciously of aforesaid cellulose, bulge into a sac of termitish fecundity 2 or 3 inches long, and produce from it jolly workers enough to reduce her portion of your home to nothingness in an incredibly short time. This fiendish purpose of hers—poor thing, she but obeys blindly nature’s mandates, as don’t we all?— you foiled by drowning her and beau and her sisters and their beaux. But did as much as one wee queen manage really to marry and then elude your water-trap? If so, somewhere on your premises she is this minute boring out a cellulosic domain for herself and overpopulating it with workers who will, when need comes, build covered ways as far as your rooftree, or as deep as the bottom of the posts of your house, for more and more abundant provender of cellulose as the queen blandly sits and breeds and broods on ana on. It is the part of good householders in the Philippines, after the termites fly, diligently to inspect their premises to make certain that no queen termite has found lodgment anywhere. For every termite colony founded, and it is after flight and marriage that they are founded, is founded with the idea of enduring to the end of time; and if undisturbed if will do so, running its cellulose tramways farther and farther afield. If its reproductives should ever be exhausted, its nymphs metamorphose into reproductives; and should the supply of nymphs run low, who knows but that the pale blind, and necessarily dumb, workers might not come forward in the crisis and the very smartest of them convert themselves first into nymphs and then into reproductives. The reason termites are so addicted to production is, that their sole food, cellulose, is generally so plentiful. Where there is ground there is wood, if even the stem of a geranium, and where there is wood there is cellulose. Where there be even bamboo and thatch there is abundant cellulose, and obviously one reason for building the peasant hut high on bamboo poles in the Philippines is to provide a light and airy space between the floor and the ground where termites will not choose to colonise. Therefore, at your own premises keep all pieces of loose wood picked up; have nothing lying about, that is cellulose, under, in or on which an ambitious termite queen can settle and declare her sovereignty. With growth of population in California, and a greatly increased use of lumber in houses, they have formed a scientific commission to fight their termite pest, there being in California no less than 13 distinct species of these so-called flying ants. Here we do things more haphazardly. But there are things each householder may easily do. For instance, there are various hardwoods in the Philippines, molave, ipil, narra and the like, practically never attacked by termites because softer woods are procurable and even termites have sense enough to follow the road of least resistance. These very hard and valu able woods are now quite cheap in the Philippines. For what he might pay for ordinary woods in ordinary times, a householder may now replace all vulnerable woods on his premises with these invulnerable ones. Then there is the treated wood, notably prepared by the Atlantic, Gulf & Pacific com pany. The California commission says: “Treated wood. . . should contain a preser vative which will not be leached from the timber by action of rains or ground moisture. The Termite Investigations Commission be lieves that wood treated with coal tar creosote under pressure and in accordance with the standard specifications of the American WoodPreservers’ Association will give satisfactory protection under all known conditions.” Such is the treatment given wood by the company mentioned, which is mentioned specifically because understood to be the only company in the islands so treating lumber for the general market. North Negros Sugar Company, Inc. Operating Sugar Mill (American Owned) at Manapla, Occidental Negros, P. I. San Carlos Milling Company, Ltd. Operating Sugar Mill (American Owned) at San Carlos, Occidental Negros, P. I. Victorias Milling Company, Inc. Operating Sugar Mill (American Owned) at Victorias, Occidental Negros, P. I. The three above American Owned Companies produce annually a total of approximately 185,000 tons standard quality cane sugar (raw), produced with American made machinery. Further particulars may be had from their Principal Offices at Third Floor, Chaco Building MANILA, PHILIPPINE ISLANDS IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 16 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 You can also paint timbers with one of the standard preservatives, and not indeed foil an attack already made, but prevent new ones from being made. Keeping things seasonably painted, thus sealing all apertures, is first rate precaution against termites. So is keeping the ground below your house not only free of rubbish, but thoroughly whitewashed. The subter ranean termite colonies in the ground and explores for cellulose by means of covered w’ays built by the workers as they go along. Such termite colonies may be exterminated by digging into and breaking up their mound, loosening the surrounding soil and wetting it down well with (the California commission says) a 10% solution of sodium arsenite, taking care not to get it on the skin or in the eyes, or washing it off, should it do so, with a boric acid solution. A 10% sodium arsenite solution is prepared by mixing 1 gallon of commercial 40% solution with 4 gallons of water. As this solution is noxious to pets, and might harm children, small areas only should be treated with it at one time; and these should be protected from animals and children until absorption dissipates the solution. A number of nonnoxious solutions are unfriendly to ter mites, all perhaps less deadly to them than sodium arsenite is. That California commission publishes many odd facts about termites. More than 1200 species are extant today, and fossils millions of years old have been found in the United States: termites antedated man on earth. They are extremely social, their food being so abundant. They haunt darkness and dampness (though there are some dry wood species, too), and their societies, are rigidly caste-ridden, perhaps as much so as the societies of the bee and the ant, the latter the termites deadly and cousinly foe. In termite society, first the reproductives headed by the queen, perhaps too the king. These have the wings and large black compound eyes, these make their love flight around your evening light—once a year, once in a termite’s lifetime. Mating, they lose their wings and crawl off to the nearest and aptest cellulose cover: a dead tree, a woodpile, a loose board or two under the porch. Then the nymphs, neutrals until nature forces them to assume productivity—which they miraculously do when necessity drives. Then the hosts of workers; slaves perhaps, pale, anemic, dullards more than dumb, but prodigiously active in stealing cellulose and porting it meekly back to the others. There is of course a soldier caste, with en larged armored heads and belligerent mandibles. They are single men in barracks until the colony is attacked, usually by their enemies the ants. They then sally forth and man all passage ways, and are invincible until the foe, if it be ants, turns their left and takes them in the rear, when they are practically as easy victims as the others who carry no armor and have no eyes. So one way to rid a spot of termites is to lay a train of sugar to their quarters, first opening it up as well as possible, and wait for ants to do the rest. It is especially important, at this season of the year, to inspect your house above the ceiling for new' colonies of termites. It is all but certain there will be some successful unions come of all the pother of longing wings around Manila’s evening lights, and during the rainy season there is dampness and darkness enough above a ceiling to make the space—any beam or rafter in it—good termite colonising territory. Unmolested, any good colony of termite journeymen can riddle a set of rafters in a single season. It might even be not imprac tical to have termite week, about the middle or the end of June, when the whole city should make general war on the pests—when mer chants too might invite attention to their paints, and their palliatives against termites. Watch for good weather, to repaint rewhitewash; have an old-fashioned yard-cleaning; coat rafters and beams with antitermite preparations; replace nontreated w'ood with treated wood or hardwood; clear away dead growth; move palms from porches to the yard until the rains are over; let the sunshine, if it will shine, in wherever possible. These precautions, taught by the schools, might reach the home. Contrasting with California, poor in this respect, the subtropical Philippines have 300 species of termites. Nature does little by halves here. Curious that cellulose is the termite’s sole food, science at last learned that there is a trick about it. Each termite’s tummy swarms with myriad protozoa living also exclusively on cellulose, who digest the cellulose for their hosts; and if the supply of oxygen accessible to termites is varied enough to kill these ani malcules, but not the termites, the latter starve within a few hours. Termites are also great petters, forever nuzzling each other; dust a poison on one and soon 200, petting this one, will be dead of the poison. Neither can ter mites turn sharp corners, their fat bodies will not bend (which distinguishes them from ants, always wasp-waisted). Nothing this fact, the British of Borneo have had little trouble with termites in houses for the past 50 years. They have iron plates made, somewhat saucer-fashion, in England, sharp-edged. Each post supporting a house is provided with one of these near its base; and unable to turn the edge of such a plate, the termite is foiled. This compares with the creosote basins in the top of concrete bases of house-posts in the Philippines, which it is necessary to watch and keep not only filled but free of dust and cobweb bridges. Pampanga Bus Company, Inc. Bus service from Manila to all Points North in the Provinces of Bulacan, Pampanga, Bataan, and Tarlac. Busses leave Manila station, corner of Azcarraga and Sto. Cristo Streets, every 15 minutes Careful Drivers-Reliable Service Main Office: Manila Office: San Fernando, Pampanga 324 Kneedler Bldg. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 17 Movie Business in Manila Holding Up Well Reasonable prosperity in the movie business in the Phil ippines is attested by construction, now underway, of another modern movie theater on the Escolta. It is being built by Eastern Theatrical Enterprises, Inc., and word is that it will cost in the neighborhood of Fl,000,000. Another straw indicating favorable winds in the movie business is the success, in the provinces particularly, of the movies of the Philippines that are made in Manila. Those made at the Tait & Harris lot on calle Inverness, in the company’s large new soundproof studio, hit a very satisfactory pace. The American agencies have been interviewed for a sum mary of the situation as to their films. American films catch on best, of course: the public likes their tempo, they give the people their songs and favorite dance music. The business side: Four agencies kindly answered a memorandum, pertaining only to first-run theaters. One theater reported January and April better than the same months last year, February and March not so good. Another had a better January this year than last year, with February to April below last year. Another was 8% below last year in January, nearly double last year in February, 11% over last year in March and 25% in April. Another ran 57% below last year in January and 39% in February, and 10% above last year in March and April. The Ideal, enjoying good patronage too, was being rebuilt last year and comparisons are therefore not available. This theater runs MGM films. Greta Garbo in Queen Christina has been its best boxoffice hit this year, and the best since September. Second and third boxoffice hits since September, Crosby and Davies in Going Hollywood, and Laurel and Hardy in Sons of the Desert. Its 3 most popular men stars are Ramon Novarro, Clarke Gable, Robert Montgomery; and women stars, Greta Garbo, Norma Shearer, Joan Crawford. Its upstairs patrons prefer sophisticated social drama; main floor patrons, religious spectacles; and something to suit both, historical pageantry. Radio’s best boxoffice picture this year was Tarzan ana the Blonde Venus; and since September, King Kong. Its best 3 boxoffice pictures since September, King Kong, Flying Down to Rio, and Bird of Paradise, with Aloha next. It handles Acme films. Its 3 most popular men stars are Richard Dix, Joel McCrea and Bill Boyd; and women stars, Dolores del Rio, Irene Dunn and Katherine Hepburn. Its upstairs patrons prefer social drama; main floor, melodrama and west erns; to please both, guess. If you could guess a King Kong every time you would always be in the money. Lyric features Paramount and Universal pictures. Its business since January has run steadily and remarkably ahead of last year’s same period. The boxoffice was best pleased over Too Much Harmony, then Take a Chance, then The Way to Love. Eastern Theatrical have the Fox and the Metropolitan. Best boxoffice picture at the Fox this year was I Am a Fugitive from a Chain Gang, which was also the best since September, with Mystery of the Wax Museum second. Three most popular men stars, Paul Muni, Eddie Cantor, Edward i ’ ■■■.......... ■ “ - ■ 1 “Ride” With The Champion VEEDOL—The Oil That g||iH Holds All Records for— 1 SPEED-Stamina Durability RELIABLE LAMP Distributed by Elmac Inc. Associated Oil Company P. O. Box 627 — Manila — 625 Rizal Ave. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 18 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June. 1934 MARVELOUS RESULTS/ CONDITIONS DON’T MATTER when you take a snapshot with a JfcuQJCL Camera EXCLUSIVE AGENTS BOTICA DE SANTA CRUZ Plaza Goiti, Manila, P. I. The lESCO Annual School SALE is now in full swing/ If you want a nice comfortable pair or two for your kid—— now’s the time to buy ’em/ Our Prices Are So Low. You Can Easily Buy Three Or Four Pairs For The Whole Family Even ESCO SHOE STORES 615 Escolta and 333 Legarda G. Robinson: women, Janet Gaynor, Eli'~a Lamb, Lilian Harvey. Its upstairs patrons like action drama: main tlo<>r. quick-moving melodrama—which tmt< over up'tairs t<«j if direction and action are up to expectations. Eddie Cantor in Roman Scandals was Metropolitan’s best offering this year, the boxoffice shows, and ('olley, Humor best since September. Gold Diggers of 1933 ran third. Patrons here have the same preferences in pictures as those at the Fox. The Grand was closed toward the latter end of last year, for remodeling, new seats and cooling and ventilation. In December it opened under new management, and in January ran Universal’s Invisible Man, its best boxoffice picture since reopening. It releases Columbia pictures for first runs. Lady for a Day and Beloir the Sea rank second and third after In visible Man. But the boxoffice also showed May Inang Mahirap, a Tait Harris feature, very popular with main floor patrons—bearing out what has been said above about the newer, better Manila pictures. Unabated popularity of the movies has been a primary factor in the prosperity of Manila newspapers ever since the depres sion, setting in, reduced revenue from other lines of adver tising. Business from the movies offsets this loss of other revenue very materially. So the movies both entertain you and provide you better newspapers. is the sure sequel to a sleepless night. No concentration; no control over one's faculties; general depression; painful discontent If you want to work well you must have your nerves in order; your nerves will be raw if you do not sleep well. Your salvation lies in Bromural Tablets ■■Knoii * . Their world-wide fame is founded on their rapid nerve-soothing action which restores sound sleep thus enabling you to utilise your full working capacity. Vouched for as harm less and not habit-forming. Obtainable from all the trading rbrmiUt Tubes of X tablet * . Knoll A.-G , Chemical Works, Ludwigshafen-on-Rhine. FORMULA: Ur.'twrw 0-051 Benaoato l t.co 0-028 Sales ? nera.—ci. 0-046 Fostato <lisW.ro 0-023 Escp.ento elervesveme q , para 1 jr IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 19 No Business Can Escape Change (From “Nation’s Business”) A novel fastening device zips onto machine screwj and bolts. Bcrves both as nut and lockwasher, needs only a screwdriver to tighten. Made of arched spring steel, punched and slitted to engage the threads, it’s said to give speedier, assembly of metal parts, to permit expansion, contraction. . . . A bituminous anti-corrosive vehicle for aluminum has been developed which gives two coatings—black base, aluminum surface—at one brush stroke. It can be applied to damp surfaces, is said to prime, protect, decorate in one operation.... Old King Coal faceB another rising rival in petroleum carbon. A petroleum by-product—the residue left in stills after com pletion of refining processes—it i3 being crushed into pea to egg sizes for domestic heating purposes. . . . A recently developed drive screw for attaching wood or steel to concrete is driven directly into the latter by a hammer blow, is said to eliminate necessity of drilling and use of plugs. . . . Liquids in wooden tanks are heated as readily as in tanks of steel through a new gas burner which is immersed in the liquid, brings the flame in direct contact with it. Fire fighting is aided by a recently developed, hopper-like device through which chemicals are fed into the water line, generating a fire-smothering foam, increasing water pressure. . . . Electric lights are kept burning regardless of current interruptions by a new emergency lighting unit which goes into action automatically, instantly. . . . Home-made ice cream can now be had without an accompanying arm ache. A new home freezer is powered by an electric motor, is said to make ice cream in eight to 12 minutes. . . . Housewives do their cooking to music on a new electric and a new gas stove which have built-in radioj. . . . The old parlor-table stereoscope is back in new guise, an opera-glass-eize instrument by which pictures, on special films, are given depth, brilliance. Scenes ahift by touch of a lever. It’s offered for use with films for entertainment, advertising, etc. . . . One of life’s little nuisances is attacked by a new screw-cap remover for jars, bottles, etc. Fixed beneath kitchen shelf, it grips vari-sized caps, leaves both hands free to turn the jar. ... Another kitchen aid is an electric knife sharpener, available in models operated by battery or alternating current. Two grinding edges automatically sharjjen the blade as it’s drawn through. . . . A new battery-operated razor-blade sharpener is also offered; then there’s an electro-magnetic blade sharjiener which plugs into a current outlet, hones and strops in one operation. . . . One of the newer bathroom gadgets is a vitreous china ash tray which fits over a metal clip screwed to the wall. . . . A new closet flush valve is said to be practically noiseless in Mistakes are mended in a Jiffy with this new electrical erasing machine. It’s equipped with an assortment of pen, pencil erasers IN THE constant quest for newer, better ways of doing things lies the genesis of change. Man has ever pursued that quest; progress is measured only by the vigor with which he continues that pursuit operation, permits flush volume to be fixed anywhere between two and eight gallons.... A nailless crate has been developed to reduce hazards to furni ture in transit. It can be used repeatedly, consists of six panels which are locked in place by a keyboard. . . . A new “headlight” is worn like spectacles, mounts a reflector and bulb above each eye, draws current from a pocket battery. It offers mechanics and others direct, concentrated light on their work. . . . An automatic instrument for making accurate, sensitive color analyses has l>een developed. Used to test color of paints, papers, textiles, etc., it plots a “reflection factor curve.” said to be the only scien tific way of specifying color of a given sample. . . . A new, magnetically operated switch opens doors, performs other functions for trucks, tractors, etc., is unaffected by animals, non-magnetic objects. Steel or iron brought within 18 inches actuates it; no physical contact’s needed. . . . A saving of three days in the time re quired to fire glazes on pottery is said to be effected by a new process which brings gas flame into direct contact with the ware. . . . Both color and grain of weathered cypress are accurately simulated in a new asbestos cement shingle. . . . Grocers, others can now offer customers whipped cream ready for use through a new machine said to change one quart of whipping cream into three quarts of whipped in two minutes. . . . Muffins, biscuits, corn bread, etc., are baked at the dining table by a new electric appliance. . . . Bandits have a new foe in a bullet-proof camera which catches them in the act, provides a series of photos for identification purposes. It's set going either by a foot control or photo-cell. . . . —Fail Hayward Editor’s Note—Material for this page is gathered from the many sources to which Nation’s Business has access and from the flow of business information into our offices in Wash ington. Further information on any of these items can be hail by writing to Nation’s Business. 20 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 Foreign Consuls of Manila TRADEMARKS REGISTERED During the monlA of Vap, 1934 ARGENTINE REPUBLIC —J F. Fernand * .. CoiuuJ, 100 Juan Luna. Phon * 2-20-32 BELGIUM — M. Verlindon. Consul. SO Eocolta, Phon * 2-10-00. BOLIVIA—Joaquin M. Eliaald * . Ynchauati Bid * , Muelle de la Induatria, Tel. 2-27-02. CUI LI — Lorenxo Correa, Conaul, 212 Marquee de Comillaa, Paco. Phone 2-25-81 CHINA. — K. L. Kwong, Conaul-General. China Bank Building, Phone 4-00-23. Yen Wan-li. Benior VieeConaul COHTA RICA —Vicente T. Fernandei. Con.ul. 8. O de Fernandea Bldg . Room 302, Phone 2-07-16 CZECHOSLOVAKIA — Leo Hchnurmaeher, Conaul. 61 Juan Luna, Phone 2-26-24. DENMARK —G. P. Dalema. Conaul, Muelle de Binondo 112-113. Phone 4-07-44. FRANCE.—Gaaton Willoquet. Conaul. Luia Perea Hamanillo Bldg., Room 320, Eacolta, Phone 2-30-40 GERMANY. —Dr. J. Behulae, Conaul: F Fiacher, Chan cellor, 3rd floor, Inaular Life Bldg., Plaaa Cervantes. Phone 2-26-59. GREAT BRITAIN.—MANILA: Thomae Harrington. II B M. Conaul-General; L. H. Fouldn, H. B. M Vice-Conaul (on leave); H. H. Thomaa, Aeting ViceConaul (Mr. Harrington ia Dean of the Conaular Corp * ), 406 Fernandea Bldg., Phone 2-15-88. CEBU G. Walford, Aeting Vice-Conaul. ILOILO A. T. Kay. Acting Vice-Conaul. ZAMBOANGA J. D. McLaren, Acting Vice-Conaul. DAVAO W. C. Naiamith, Acting Vice-Conaul. LEGASPI A. K. Macleod, Acting Vice-Conaul. ITALY.—R. P. Staurenghi, Acting Conaul, Heacock Bldg. 702. Phone 2-16-80. JAPAN.—Atauahi Kimura, Conaul-General; T. Kaaahara, Vioe-Conaul, De loe Reyee Bldg., Plaaa Cer vantee, Phone 2-36-67. Davao. Toyoji Kaneko, Acting Conaul. LATVIA. — Leopoldo R. Aguinaldo, Honorary ViceConaul. Aguinaldo Bldg., J. Luna. Phone 4-08-85. LIBERIA.—R. Bummere, Conaul, 708 8ta. Meaa. Phone 6-70-34. MEXICO.—Trinidad E. Lacayo, Conaul (abaent). Eugenio G. Lacayo, Aeting Conaul, 8. 0. de Fer nando. Bldg., 61 Eacolta, Room 302. NETHERLANDS.—G. P. Dalema, Conaul, Muelle de Binondo 112-8. Phone 4-07-44. T. Bremer, ViceConaul. CEBU G. W. Sinolair, Acting Vice-Conaul. ILOILO A. T. Kay, Acting Vice-Conaul. NICARAGUA.—Trinidad E. Lacayo, Conaul-General (abaent). Vicente L. Legarda, Vice-Conaul, Acting Conaul-General. 1664 Aacarraga, corner T. Alonao No. 761, Hta. Crua, Manila. P. O. Box 1328. NORWAY.—A. W. Robertaon, Aoting Conaul. 1000 Cordeleria. Phone 6-75-87. PANAMA.—E. C. Iloaa, Conaul. 217 Perea Samanillo Bldg. Phone 5-60-28. The Philippine Guaranty Company, Inc. (Established in 1917) SURETY BONDS— We execute Bondi of varloui kind * , ipecially CUSTOMS BONDS, FIRE ARMS BONDS. INTERNAL REVENUE BONDS, PUBLIC WORKS BONDS for Contractor!. COURT BONDS far Executor!, Admlnlitratan and t Receiver! and BAIL BONDS in criminal caaea. FIRE INSURANCE— In the Philippine Ialanda. 1 LOANS— Secured by flrvt mortgage on improved propertie! In the City of Manila on the monthly amortisation plan. Phone 2-41-11 Second Floor P. O. Box 128 INSULAR LIFE BLDG. MANILA PARAGUAY —J. J Ruaaell. Eeq . Conaul. No. 8. Muelle del Banco Nacional PERU —Antonio Melian y Pavia (Count de Peracampa), Honorary Conaul. 810 Dewey Boulevard Phone 5-60-16. PORTUGAL —J. W. Ferrier, Conaul. 701 Inaular I-ife Building. Phone 2-23-67. RUSSIA —(Bee France). SIAM.—E. A. Perkin * . Conaul. 511-521 Heoroek Bldg . Eacolta. P. O Box 760. Phone 2-24-04 SPAIN.—Manila—Don Miguel Eapinoaa Boach. Conaul General. Andrte Rodrigue a Ramon. Vice-Conaul. Conaulado General de Eapafla. Calle Ban Luia. Tel. 5-67-63. Iloilo—J0 * 4 M. Reguera, Conaul. Cebu—Genaro Membiela, Aeting Viee-Conaul. Legaapi—Joaquin Zuloaga. Conaular Agent Laguna—Luia Soler de Cornelia, Acting Conaular Agent. Zamboanga—Marcelino Loaano, Conaular Agent. Guam—Angel Viva * . Conaular Agent. Tuguegarao—Joa4 Ma. Hernandea. Acting Conaular Agent. SWEDEN.—A G. Henderaon. Chaco Building. SWITZERLAND —A. 8idler. Conaul. 027 Riaal Avenue Phone 2-18-41. TURKEY.—Conaul for Spain in charge. UNITED STATES OF AMERICA —Henry B. Day. Vice Conaul. 410 Hcacoek Bldg.. Eacolta VENEZUELA —Albert P. Delfino. Conaul. 50 Eacolta. Tel 2-18-80. Heavy Business in Stocks In the period from January 2 to May 19 inclusive, local mining and commercial snares sold on the Manila Stock Exchange summed 26,365,749 in sales valued at M3,098,475. February sales were highest, 6,048,150 valued at P2.881,832. Sales for the whole period covered top all previous records over an equal length of time. They involved 34 active mining stocks. Thirty-eight such stocks are now listed on the Manila Stock Exchange. Transactions in commercial shares in the above totals were negligible. In the period from May 2 to May 5 sales on the Manila Stock Exchange of mining stocks summed 1,148,149 shares, against 651 snares of commercial stocks. May 7 to May 12, 901,825 mining shares; commercial shares, 209. May 13 to Mav 19, 732,853 mining shares; commercial shares, 294. Total May 2 to May 19, 2,783,837 mining shares; commercial shares, 1,154: total mining and commercial shares, May 2 to May 19, 2,784,991; value, Fl,177,748. Re« No 11710. Trademark coaaxsting of the words REPUBLIC.! DE CUBA. HELLO DE GARANTIA NACIONAL DE PROCEDENCIA with a design, for cigars and cut to bacco, registered on May 2, 1934, by The Re public of Cuba, of Havana, Cuba. Res- No. 11711. Trademark consisting of the words MEET ME TONIGHT IN MY DREAMS with a design, for toilet soap, per fumes, tonics, pomades, etc., registered on May 3, 1934, by Seitaro Kanegae, of Manila, P. I. Reg. No. 11712. Trademark consisting of the words ASAHI MANKINKO Plaster, with a design, for medicinal plaster, registered on May 3, 1934, by Y. Suyesaki, of Manila, P. I. Reg. No. 11713. Trademark consisting of the word METT ALINE with a design, for metal polish, registered on May 3, 1934, by William Parsons, of Manila, P. I. Reg. No. 11714. Trademark consisting ol the word BR1GHTEEN with a desijn, for metal preservatives, registered on May 3, 193 * , by William Parsons, of Manila, P. I. Reg. No. 11715. Trademark consisting of the word ELLA with a design, for lotion, perfume, soap and powder, registered on May 8, 1934, by Myrurgia, S. A., of Barcelona, Spain. Reg. No. 11716. Trademark consisting of the words SPORTSMEN LINEN with a design, for cotton, pure linen and crash linen, registered on May 8, 1934, by K. Nasaoor, Inc., of Manila, P. I. Reg. No. 11717. Trademark consisting of the words GOOD YEAR with a design, for electric conduit, registered on May 9, 1934, by The Goodyear Tire and Rubber Company, of Akron, Ohio, U. S. A. Reg. No. 11718. Trademark consisting of the word MARVELOUS with a design, for perfu mery, toilet articles, face powder, etc., regis tered on May 10, 1934, by Richard Hudnut, of New York City, N. Y., U. S. A. Reg. No. 11719. Trademark consisting of the words TONIKUM ROCHE with a design, for tonic, registered on May 10, 1934, by F. Hoffmann-I,a Roche & Co., Ltd., of Basle, Switzer land. Reg. No. 11720. Trademark consisting of the words JARABE ROCHE with a design, for syrup, registered on May 10, 1934, by F. Hoff man n-La Roche 4 Co., Ltd., of Basle, Switzer land. Reg. No. 11721. Trademark consisting of the words FAKIR ALHAMBRA, for cigars and cigarettes, registered on May 12, 1934, by Al hambra Cigar A Cigarette Mfg. Co, of Manila, P. I. Reg. No. 11722 Trademark consisting of the words COPPER QUEEN for rublier transmis sion belting, registered on May 15, 1934, by Pioneer Rubber Mills, of San Francisco. Cali fornia, U S A. Reg. No. 11723. Trademark consisting ol the words COPPER KING, for rubber traneaiisntao belting, registered on May 15, 1934, by Pioneer IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OP COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 21 Rubber Mills, of San Francusr.,. < 'ahforma, I S \ Reg No I 1721 Trazlrmark consisting of'he word- HEX < HEWING with a design, for chewing tz,baz-™>, rrgi-tz-r«-«l on May 15, l'.lU, by la |n»ulnr, f igir an * l ( ig-irvttz- Fartzzry Inc , of Manila, I’ I Reg No 11725 Tradz-mark consisting of tl * z- wL< LIBERTY CHEWING with a zJmiCTi, for rhemru tz4>az * r>>, r * -gi-tz * r»-d on May 15, 1934, by la Insular, Cigar and < igarrtte Fact/irv Inc , of Manila, I’ I ltz * g No I 172b. Trademark consisting of tb»- word J’ARIS for shirts, pajamas * , drawers, undershirts, etc, registered on May 15, l!tH, bv Yap Teng, of Manila, I' I lies No 117'27. Trademark consisting of the words PHILIPPINE TOURING TOPICS, for a front page of a magazine, registered on May 15, HOI, by Rarnori Caro, of Manila, P. I. Reg. N'o. 1172s. Trademark consisting of the word ALEXANDER with a dexign, for cotton threads of all descriptions, registered on May 15, 1934, by R. F. A- J. Alexander A Company, Limited, of Cnifthcad Works, N'eilston, Scotland. Reg. N'o. 117211. Trazlemark consisting of the word OSRAM with a design, for lighting-heating, cooking apparatus and instruments, etc., reg istered on Muy 15, 1934, by Osram G.m.b.H. KornmunditgescILscImft, of Manila, P. 1. Reg. N'o. 1173(1. Trademark consisting of the word URITON’A with a design, for tablets, ampoules and a chemical salt known as 1'ritone, registered on May 15, 1934, by Parke, Davis & Co., of Detroit, Michi gan, U. S. A. Reg. Xo. 11731. Trademark consisting of the word SARILE with a design, for nil kinds of footwear, registered on Muy 15, 19.34, by Toribio Teodoro, of Manila, P. I. Reg. N'o. 11732. Trade-name consisting of the word COMMON WEALTH INSTITUTE, for the business of establishing an educational institution, registered on May 15, 1934, by Vicente L. Legurda, of Manila, I * . I. Reg. No. 11733. Trademark consisting of the word F1SSAN, for chemical products, registered on Muy Hi, 1934, by Beutsche Milchwerke A. G. Zwingenlicrg Hessen, of Zwingenlterg Gessen, Germany. There’s no difference of opinion when it comes to ISUAN NATURAL MINERAL WATER IS VAN TRUORANOE SQUEEZE ISUAN SUPREME DRY OINGUt ALE SOFT DRINKS EL E C T E D to serve Thousands When you want to drink safe—Vote ISUAN ISUAN, INC. Tels. 5-73-06 or 5-65-62 We Deliver Bottlers of the famous I-oa Bafloa Natural Mineral Water EAT MORE SUGAR Compliments INSULAR REFINING CORPORATION IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 22 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June. 1934 lb-g No 1173.’, Tnwkmark cor,.i-nng of the wor-L THE CITIZEN SHI in with a design, for rordert,.,,. „n,j mar.ufsrtun- of „r -Jk »furt«, cir , rrgi.trrrd i,n May 17, 19.H, by Cy Ij»m Kdi, of Manila. 1' I Reg No H7>> 'I rad<-m.irk rohM-img of th<- word Bl\RG \ for » |wIpr lighting d»’Vir»—, |<»ri I'ularl y r-lwlrir larnje, r<Vi-t»-r«-d on Mr. 17, 1931, by N V I'hili^ < ,l--ilarn[.-nfabri<-k<-n, of Emdho\.-n Holl o,.1 Emma-mg.-l R«-g No 1)737. Trademark rono-tmg of the word- LA Ill .1’1 ’ BI.I< ' \ with a dei-ign, for ehp[M-r-, »h<>e« and other leather go«><L«, regi-t«n-d on May 19, 19.',I, by Hilanon Kho Gornon, of Cebu, Cebu lleg No )|73h. Trademark con-i-ting of the word" Tl’BALlNlGI’ZMAN with a d<-ign, for wine, registered on May 19, 1931, by Victonnno de Guzman, of Mulig, Davao, Davao. Reg. No 11739. Trademark ron<i<ting of the wor<L< FRISIAN FLAG with a de«ign, for sterilized natural, condensed and eva[»>rated milks, registered on May 19, 1931, by Coofierntieve Comlen-fabnek ‘ Friesland", of Holland. Reg No. 1174(1. Trademark consisting of the words WORCES TERSHIRE SAl'CE with u design, for sauces, registered on May 19, 1931, by D-a A I’ernns, Inc., of New York City, N. Y , V. S. A Reg No. 11741. Trademark consisting of the word ROSEMARY for dried milk, registered on May 19, 1934, by The Dry Milk Company, Inc . of New York City, N. Y., C. S. A. Reg. No. 11712. Trademark consisting of the words BLCE RIBBttN for beer, registered on May 19, 1934, by I’remier-I’abst Coqioration, of Milwaukee, Wisconsin, I’. S. A. Reg. No. 11743. Trademark consisting of the words BAKER'S CHO COLATE with n design, for chocolate, bro ma arid cocoa preparations, registered on May 19, 1934, by Walter Baker A: Company, Inc., of NewYork City, N. y’., U. S. A. Reg. No. 1 1744. Trademark consisting of the words GERMAN'S SWEET CHOCOLATE with a design, for chocolate, broma and cocoa preparations, registered on May 19, 1934, by Wultcr Baker A Com pany, Inc., of New York City, N. Y., C. S. A. ' ('/'o be Cinitiniud) PROVEN SAFETY WORLD’S RECORD FOR ENDURANCE PROVEN SAFETY S times treater than you need. Don't be zcared about blow • out * Dunlop * have extra ztrength. extra reliance, extra life - due to Cable tw it cord, an excluzive Dunlop Feature. Proven? Yrs at more than 272 mi lei per hour—carrying over 5 toni —Dun lop let world's record for endurance attested by American Automobile A» •ociation. PROVEN SAFETY-at speed five times greater than moat people drive. DUNLOP THE OLDEST NAME ON A TIRE.......... SINCE 1888 Dee C. Chuan & Sons, Inc. Office and Yards 18-30 Soler, Manila, P. I. PHONES | P- O. Box 474 Manufacturers and Wholesale and Retail Dealers in All Kinds of Philippine Lumber Large Stocks Always on Hand Mouldings, Balusters, Scrolls, Customs Sawing and All Classes of MILL WORKS BRANCH: 782-788 Juan Luna Street Phone 4-87-36 BONDS Firearm Ammunition Judicial Contractors Customs Internal Revenue Fidelity and other Bonds INSURANCE Fire Marine Earthquake Typhoon Workman’s Compensation and other Insurance Call or Write for Particulars FIDELITY AND SURETY COMPANY of the PHILIPPINE ISLANDS Geo. C. Dankwf.rtii President E. B. Ford Vice-President P. M. Poblete A. Savtwico Sec.-Treasurer Arrr. Sec.-Treasurer MONTE DE PIEDAD Bl II.DING Plata (Toil! Tel. 2-12-55 Manila, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June. 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL Z3 SHIPPING REVIEW By 11. M. Cavender General Agent, The Robert Dollar Co. Copra shipments are Burins the month of April, snipments were again very heavy, amounting to 320,2.50 tons and almost reaching the total of the record month of February. To Oriental Ports, hemp shipments were very good, amounting to <53,11.5 bales. Lumber, however, was off con siderably, the movement lieing less than half of the previous month, increasing monthly, the total of 2, tsl tons for April almost equalling the total for the previous three months. To the Pacific Coast, cigar shipments held up well. Coconut oil, copra, and copra meal all showed increases. The movement of hemp was only fair. Lumlrer shipments were the liest for some time. There was a particularly heavy movement of centrifugal sugar, amounting to 25,000 tons, and refined sugar shipments were also heavy. Rope shipments were good. To the Atlantic Coast, sugar again moved very freely, the total being 175,790 tons. Cigars were good. Almost 14,000 tons of coconut od AGhsxo To HL of 320. .*.'>G tone with a total of 112 eailinseot a loch American Dot tome earned Sl.sjlloaewiib 1. moved, a very satisfactory 'hosing Copra, however, was slow. Hemp improved very considerably, and lumlier was also up There were two full cargia's of molasse * 'hipped To F.uro[»ean Ports, copra was good, but copra cake -low. Hemp shipments were again good, although off from the previous month Lumber shipments improved. There was one small shipment of coconut oil, the first for thia year. From statistics compded by the .Kaeociated Steamship Line * , during the month of April, 1934, there were exported from the l * hdippiDe Islands the following: THE PRESIDENT LINER WORLD-WIDE SERVICE FLEET AMERICAN MAIL LINE “The Short Route to America” To SEATTLE via CHINA, JAPAN and VICTORIA Pres. Grant - - - July 4 Pres. Jackson - - July 18 Pres. Jeffetson - Aug. 1 Pres. McKinley- Aug. 15 Pres. Grant - - - Aug. 29 Travel “President Liner” Tourist Class Manila to Seattle or San Francisco only $200; with private bath, $227. “President Hoover” and “President Coolidge” Special Class at slightly higher Jares. DOLLAR STEAMSHIP LINES EAST OR WEST TO NEW YORK Via China-Japan, Honolulu San Francisco Panama Canal Pres. Lincoln - June 30 Pres. Coolidge - - July 11 Pres. Cleveland - July 28 Pres. Hoover - - Aug. 8 Pres. Taft - - - Aug. 25 Via Suez Canal and Europe Pres. Johnson - June 25 Pres. Monroe - - - July 9 Pres. Van Buren-July 23 Pres. Garfield - Aug. 6 Pres. Polk - - - Aug. 20 PHILIPPINE INTER-ISLAND STEAMSHIP CO. SUPERIOR INTER-ISLAND SERVICE S. S. “MAYON” sails Tuesdays at 2 P. M. from Manila to Iloilo Zamboanga, Cebu, Iloilo back to Manila. ruruvta ■ ailing* June 26 July 3 ,, 10 17 24 FOR BOOKINGS AND INFORMATION APPLY TO: THE ROBERT DOLLAR CO. General Agents Robert Dollar Bldg., Port Area — MANILA — Telephone 2-24-41 87 Eboolta IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 24 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June. 1934 The annual Honruf exndua reached ita height during the month ofApril, bookings in all direc tions reaching new hi^h leveh. particular interest is the increase in tourist travel from the I’hilippincs to China and Japan, one group alone numbering over sixty persons. The following figures show the number of passengrrs dejmrting from the Philippine Islands during April, 1934: InUr- TK.rd Fir * S'iaai 279 499 276 1 2 43 135 69 215 20 6 0 17 7 0 19 51 0 9 9 0 6 4 0 5 0 0 China and Japan Honolulu. Pacific Coaat Europe via America. Htraits HettlemenU and Dutch East Indies........... Europe and Mediterranean Ports beyond Colomlio America via Sues. . Australia. Round-t he-World Total for April............. Total for March........... 499 644 534 294 518 3 33 COPRA AND ITS PRODUCTS By Kennkth B. Day AND LKO SCHNURMACHER The local copra market showed mixed trends during May owing to the general uncertainty linked with the situation created by the final approval of the coconut oil excise tax in the United State * . Although some action on the part of the administration was expected, allowng a total or partial exemption from this tax for the Philippine Islands, no such action was taken and under the circumstances local crushers have not been keen buyers at all due to their inability of selling coconut oil in the United States. The month, therefore, was largely controlled by export demand tempered with the unusually severe seasonal curtailment of arrivals Comla: Both in Manila and Cebu arrivals were far below the corresponding month of 1933 In addition to the seasonal decline in production, unusually heavy rains throughout the latter part of the month caused a decrease of 50% as compared with May last. It is expected, how ever, that the next few months will again bnng normal copra receipts, pnees permitting. Pur chases by local mills were transacted on a small scale only and with particular caution. Pnees ranged from F3.50 to P3.60 per hundred kilo * Rerecada, and very little contract business was transacted. Export markets started dull, but in the second week of the month a decided Eu ropean buying interest made its appearance and a large volume was transacted at prices ranging up to £7/5. This business was particularly attractive because of the sluggishness of the American copra market, which was dull with 1.20 cents the highest price quoted in Manila and 1.25 cents in Cebu. One round lot of copra was sold to Mexico st better than there figures. Throughout the month large copra dealers were unwilling to commit themselves to forward contracts. The following statistics apply:— Arrivals—Manila, 178,246 bags an d Cebu, 253,227 bags. Shipments— Tons Pacific Coast 4,525 Mexico.................. 5,367 Atlantic Coast . 762 Gulf Ports 3,556 Europe . 12,635 China and Japan 1,617 Total 28,462 Stocks on Hand in Manila— Tons Beginning of Month 52,028 End of Month 43,573 In addition to the above very fair stocks of copra were held in Cebu and other provincial porta. Coconut Oil: During tne entire month there was no interest whatsoever on the part of big buyers al oil in the United States Nominal quotations were 2-1 4 cents r i f New York and 2 00 cents fob Pacific ( oast At the end of the month local mills were offering pamrb at 2-1 4 cents but with no bumnessi transpiring. A few small tank ears were sold on each coast but large buvers were holding hack awaiting the final outcome of the excise lax, which they could easily do on account of ample stocks The local price of coconut ml dropped from > * -l 2 cents to as low as X00 cents ex factory 8tat is tire for the month follow — Shipments— Tons Pacific Coast 995 Atlantic Coast . V<50 Gulf Ports 5,004 China 50 Total 14.91 * Stocks on Hand in Manila and Cebu - Tons Beginning of Month 16,449 End of Month 15,902 Copra Care : A very fair volume of cake sras sold during the month. Sellers here hecame tired of bolding stocks for better pnees and began to sell early position. Later on the European market picked up due to droughts in the United States and Europe and the fear on the part of buyers that a future curtailment of eoconut ml shipments might mean a scarcity of supply of copra cake. Hamburg pnees improved from $17.00 to as high as $18.00 and the local equi valents from P1300 ex warehouse to P13.5O. At the end of the month prospects for additional improvement were in evidence. Very little meal business was done to the United States. The following statistics cover these products — Shipments— Tons Pacific Coast 1.909 Atlantic Coast . 192 Europe 3,140 Total 5,230 680m“s THE EDWARD J. NELL CO. P. O. Box 1640 TEL. 2-29-75 CRANE EXPORT CORPORATION Valves for Every Purpose GARLOCK PACK ING COMPANY Packing for Every Service WYOMING RED EDGE Shovel & Picks YALE & TOWNE MFG. COMPANY Chain Blocks BRODERICK & BASCOM ROPE CO. Hoisting Rope for Every Purpose WORTHINGTON PUMP & MACHIN ERY CORP’N Diesel Engines, Compressors, Pumps WESTINGHOUSE ELECTRIC INTER NATIONAL CO. Motors, Generators, Welders MINE & SMELTER SUPPLY COMPANY Marcy Ball Mills, Wilfley Tables. Marcy Rod Mills, Wilfley Sand Pumps, Ore Milling Equipment. Assayers Supplies. Empire Prospecting Drills, Placer Machines OLIVER UNITED FILTERS CORP’N Continuous Vacuum Filters NORDBERG MA NUFACTURING COMPANY Symons Crushers HEWITT RUBBER CORPORATION Air Hose-Belting WASHINGTON IRON WORKS Mine Hoists Logging Engines IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OP COMMERCE JOURNAL June. 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 Stock * on Hand in Manila and Cebu— Beginning of Month............................. 6,290 End of Month........................................ 10,860 Desiccated Cocomut: The desiccated market was good during May. Prices ranged al 7-1/2 cent * or better e i. f. New York and owing to seasonal rummer requirement * , demand was brisk. Toward the end of the month, however, the market commenced to ease off, with the likelihood of a lightly lower price * in the future. Local mill * were operating at fair capacity. Ship ment * for the month totalled 2,008 metric ton * . General: Anyone who would try to ac curately predict the future of copra and coconut oil today would be a very brave person. One thing ia certain—the excise tax is effective and will remain effective—at least until the next session of congreaa in 1935, and probably to a limited extent at least beyond then. It is generally felt that with the heavy copra months of the year coming on, the reduced demand for oooonut oil in the United State * will be unable to take care of the arrival * and will multi n considerable selling pressure at slightly lower prioe * than those pertaining today. The un expected strength shown in the European market reoently, however, may, if continued, absorb a good deal of Philippine copra and help maintain price * . More particularly will this be so if freight rates to Europe are reduced a * seems entirely possible. Producers cannot stand copra prices much lower than those pertaining. There fore, whatever drop there will be In the market will not be a very heavy one. On the other hand, prospect * for any improvement appear to be very remote and will depend largely on a world-wide rise in all staple commodities. LUMBER REVIEW By ARTHUR F. FISCHER Director o/ Forestry During February, there was steady demand of Philippine lumber and timber, partic ularly abroad. The total lumber and timber ex port * during the month under review was 6.596,592 board feet with customs-declared value of F292.021 as against 3,099,016 board feet with customs - declared value of F78.007 for the corresponding month last year, or an increase of 113%. Shipment * to Japan declined slightly as com pared with February of last year, there being only 2,516,864 boarti feet exported to that coun try during the month under review as against 2,523,648 board feet for the corresponding period in 1933. However, Japan still maintain ed it * place a * the largest consumer of Philippine timber. Demand in the United States conti nued active. There were 2,263,312 board feet shipped to this market during February, 1934, a * against only 106,632 board feet for the same month in 1933, or an fncreaae of 1258%. The above shipment for February la about the maximum amount that could be shipped each month to the United State * under the National Recovery Act, the lumber quota al lotted to the Philippines under the said Act being only twelve to fourteen million board feet for six months, beginning next June 1st. As may be seen from the comparative tablee below, the Philippine lumber trade with the other countries also registered considerable improvement. China's consumption of Philip pine lumber and timber during February in creased 3251% as compared with the corre sponding period last year. Great Britain 162%, Australia 121 ro ana Hawaii 55%. Lumber shipment * to Netherlands, Hongkong, Portu guese Africa, British Africa and Portuguese China during February under review aggregated 315,456 board fast white for the corresponding period in 1933 no lumber exportation to these countries were registered. Demands in new markets are, of course, particularly encouraging at this time when the limitation of lumber and timber exportations to the United States under the National Recovery Act is about to take effect. But it must he stated here that the exportation of lumber is especially handicapped by present freight rates, when the value of the pound sterling was low in terms of the United Slate * dollar, the freight rates to Europe and South Africa from the Philippines were so re duced as to offset the loss due to the unfavorable exchange. However, when the dollar depre ciated the rates were never readjusted so that at present the freight almost equals the price of the lumber in some esses At existing rates, it is cheaper to ship lumber to Europe via the Panama Canal than by way of the Sues, although the former route is longer. Mill production increased 62% a * compared with February of last year, but despite this increase lumber inventories practically remained the same, evidencing increased movement of stocks. Prices, however, showed practically no improvement from the previous month. The following statement * show the lumber and timber exports, by countries, and the mill production ana lumber inventories for the month of February, 1934, as compared with the corre sponding month of the previous year. Lumber and Timber Brporta Jar February 1934 Destination CustomsBoard Feet Declared Value United States..................... China.................................... Australia............................... Great Britain..................... Netherlands........................ Hongkong............................. Portuguese Africa............. British Africa.................... Hawaii.................................. Portuguese China............ Italy...................................... Total........................... •2,516^64 F 47,472 2,263,312 147,092 582,576 29,266 467,672 17,215 437,568 34,546 100,064 1,753 94,552 3,611 67,840 4,979 49,184 3,565 13,144 2,193 3,816 329 6,596,592 F292.021 1933 Destination CustomsBoard Feet Declared Value Japan.................................... United States.................... China.................................... Australia............................... Great Britain..................... Netherlands........................ Hongkong............................ Portuguese Africa............ British Africa.................... Hawaii.................................. Portuguese China............ Italy...................................... Total........................... 3,099,016 F 78,007 2,523,648 166,632 17,384 211,152 167,056 F 41,435 11,509 1,661 8,606 13,095 8,480 1,329 4,664 372 NOTE:—* This represent * mostly solid log mate, that is, 424 board feet to a cubic meter. Baaed an 40 MiVe Jar the Month oj February Lumber Deliveries from Month Mills 1934 1933 February......................... 15,137,531 9^43,974 Month Lumber Inventory 1934 1933 February......................... 25,272^293 25^07,257 Month Mill Production 1934 1933 February.................... 15,119,963 9.336J63 NOTE: Board fest should be used. TOBACCO REVIEW By F. A. Mktxr Alhambra Cigar anA Curette Hjg. Co. for bids calling for 8 mill inn kite* of FhQtpptae tobacco. Trading in local and export grades was quiet. Export during May was a* follows: was quiet. Export during May was a * follows: eairr * TUtmutSaf Australia.................................................... 1,270 China.......................................................... 154M6 Csechoalovakia........................................ 384 Germany.................................................... 27 Gibraltar................................................... 9,720 Hongkong................................................... 15,655 Japan.......................................................... 3,120 Java............................................................. 840 Manchukuo............................................... 30 North Africa............................................. 8^570 North Atlantic (Europe).................... 176,103 Strait* Settlements................................ 506 United Stales.......................................... 29,791 261,174 April............................................................ 1,088402 March.......................................................... 1H,621 Cigars: Comparative figures for shipment * to the United States are: May, 1934............................................... April, 1934............................................... March, 1934.......................................... 15,970,001 19,668,451 17,549,132 Why He Couldn't Pay A collecting agent in Manila received ths fol lowing: “Sir: “I acknowledge receipt of your tettm remind ing me of my account in Ute Pharmacia San Fernando, of the total amount of F16.94 plus interest. “Without any further contempt, 1 accepted the balance due a * an obligation to my part. I have the honor to inform that office that 1 be given ample time eoough to provide mo and to make a recovery upon my will and Hfe so as to overcome the great handiou) that creah me down with unlimited pressure of insufficiency during the past period. "However, 1 had long expected to resell erm a simple cash payment for that obligation and to settle the matter, even if your notfoe did not come for Inquiry. Incidentally 1 was almost tampered by mirfartune whenever 1 tried to ac complish my reUo because of ths presence gnevanoes as a rumor. And with nothing etoe tn listen for its fatal effect it to thsrWore an un avoidable estate, and my destitute family sa crifice that romance m ths atmosphere of drought. ” Tiers to a little more, but isn't it enough tn my, Aren t we all? 26 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June. 1934 Alexander Kulesh’s Sketches of Philippine Mountain Folk By Carl Werntz (Mr. Werntz la the founding-director of the Chicago Academy of Fine .Arte. -Ed.) Mavu.nr K,grating Last year, 1-1 2 tunes as many as m 1W.I2 Hank c lean ng * nearly equal those of the an * prrvd in 1932, well above the penod last year, both in New York and throughout the countra Exports and imports up 3O‘ , Department •tores mlea within * points of 19(2 • aame period, factory employment 7 potnts more, 12 pennts more than during the xme period Lm* year, industrial production 12 point * more, l< more than during the atw period last year, **“^" * 1 contracts awarded 70', more, 2-2 5 lima the same period in 1933 This was a consistent upping of all indices An Al<,nn.hr Kul.-.h Sketch: Girls D«nrm« st n l(<-lIKi.IUr Er,tiv»l When linked by the .Iihiisai. to nay something of the drawing * of Mr. Kulcsh, the answer seemed, "Why ring me in?" However, wince modesty forbid * the young artist from praising hia own work, pcrhiqi * my appreciation and word * of explanation may not lie offensive. Alexander Kulesh’s drawing * franklv exprena hie delight with the mountain people * of Luzon — the tribute of a feeling,‘weeing, wearching Ruwwian artist to other oriental nrtiwtn; for the * e mountain folk are beyond all quewtion wincere artist * , in their own way, with world appreciation indicated by the nvidity with which traveler * buy their product * , and brave the diweomforta, even danger * , of the trip lieyond Baguio to * ee them in their home * . On foot, with an extra shirt, a roll of rough paper, a Ixix of |>cncila—possibly n tooth brush— all in a pack on hia back, Kulc * h strolled alone into the life of these folk; lived with them; nte their food (which he asserts agree * with him lx<ttcr than that of a Manila hostelry); and sketched them at work on their terrace * , in the fields, at the mines, along the roads, around their cooking fires, in their long resting * , in their pagun ceremonies, in their love affair * -sketched the young and the old. the children and the babies. Then, instead of lx>ing satisfied with these ream * of ethnological facts, as many artists might have lxx>n, ho remembered his academic com|MMiition formulae. He superimposed his sketches u|miii the educational skeleton, creat ed a space design to express pur|xx«e Ixst in a coni|MMition of some picturesque incident that had impressed itself Im hi * emotions. Behold! These saga-like creations of st range and character ful style have resulted! Of course, the National Art Academy of Petrograd llx'iiiiigrnil now, 1 think i furnished the skeleton and iiietlaxl; ns it did that of Jacolief, internationally (limed for his masterly jsjrtrails and decorations evolving from months in Africa and Asia, which he crossed as official artist of tlic ('itox'll Motor Car l.\|>oliti<>ns But it is a similar intimate namx'intion with tho»T singular ixxqiles of the mountain * and valley * of the llontix? region, broadly termed Igorots, tlint brought Kulesh’s academic tiackground to n full characteri«tic flower in a style derived as an artist’s style should be, i. e., from hi * subjects. Yes, you who are in Manila are in at the start of an artistic career of unusual promise. The few short year * of thin young Runsian have been filled with surprine * . 1 am inclined to feel prett v * ure he is the most surprised neraon of all, to find the primitive neoples of your islands—where many phases ol art have lived, died and been reborn in new forms—giving him a characterful method of expression which, it seems probable, he will follow (or some time— |x;rhaps always. Chosen because it suits his convenience and tomperament at this period, the million-lined |X!ncil technique of these artistic creations i * that which his audiences generally speak of first; whereas, it is the wonderful way in which he has interpreted the primitive subjects of hi * pieces, in new and characterful patterns exactly suited to their individuality, that impresses me. How the wheels are made to go round is really no affair of an audience whose mission is, after all, to see, feel and enjoy. Certainly the less you hear alxiut Kulesh s artand the more you see of it, the more correct and appropriate the approach to enjoying the elaborate technique and the solid compositional structure that distinguish hia work “The Index” Indicators The latest cony of TAc Indrr, economic * review of the New York Trust Company, re|xirta to the close of February. ’220,000 more car * loaded during the first 13 weeks of the year than during the same period in 1932, and l,2oO,000 more than during the same jien<xi iii 19.13 Pigimn productioii 3 time * as much as during the same jx-nod last year, 1-2 3 as much a * during the same twnod in l'.i32. Steel shipment * more than double the same period in l'.kl3, 1-2 3 time * what they were in 1932 Business failure * half a * many as during the same |wnod in l’ALi, I 3 a * many as m 1932 Shares traded on the New York slock exchange 2-2 3 tunc * a * many as during the same period —Cut and comment from Judge She.-There goes Al Smith all alone! He. —Since he built the Em pire State he’s used to being alone. GORDON rjl? V The heart of a good (jlN cocktail GRAND McNISH’S Scotch Whisky for Good Highballs Kuenzle & Streiff SOLE AGENTS Mala Ogles: Breach OOre: MJ T. PtaHw M 4Z Isaac PWrel Tai. 1-M-M Tel J-IT-sJ Breaches Cebu. IU4U sag /ambweaga Mae rflatrihslsrs tsr Alhaaihre <J«are IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OP COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 27 THE RICE INDUSTRY By Percy A. Hill of Mufloz, Nueva Ecija Director, Rice Producer’s Association On June 10 prices for palay per cavan of 44 kilos at primary markets ranged from Pl.75 to Pl.95 according to grade. Luxury rice per sack of 57 kilos brought P4.50 to P4.90, macans P4.20 to P4.40. Selling was heavy, for taxes and elec tion expenses and repay ment of bank loans, dur ing the first part of June. The market is now quiet. Conditions affecting the next crop are very good owing to the early sea sonal rains, if nothing happens by way of drought at planting time the next crop should be normal. The trip from Pacific Coast (Vancouver) to Atlantic Coast (Montreal or Quebec) is made in four days in the luxurious trains of the Canadian Pacific Railway. ONLY 3 TO 4 DAYS OCEAN TO EUROPE Via St. Lawrence Seaway! Sail from Montreal or Quebec and enjoy 2 days on the smooth St. Lawrence. Then, only 3 to 4 days more to British and Continental ports. Regular sailings: Empress of Britain, size-speed-SPACE marvel. Famous ‘’Duchess” liners for smart economy. Popular “Mont-ships” for solid comfort, low cost. Attractive, low-priced Tourist and Third Class on all ships. YOUR INQUIRIES ARE INVITED CANADIAN PACIFIC WORLD’S GREATEST TRAVEL SYSTEM Area planted in central Luzon will be somewhat larger than it was last year, and the demand in the southern provinces for rice will be erratic. The generous sugar quota the United States allows the Philippines this year will hold rice prices up somewhat, but demand will fall off in other export-crop regions. But coming back to fundamentals, there will never be any renaissance here, any turning to new crops or means of sup plying overseas trade, until the sugar and other quotas are abolished. This seems axiomatic in tne Philippines. There will be no adjustment until economic pressure forces it. Hope will encounter a steadily declining market. This market, sustained artificially by returns of money to the Philippines conceals this danger— that of ending the remittances by sudden de clines in America’s requirements. Japanese are taking over the distribution of of rice, especially in the southern islands, since the beginning of this year, a business formerly carried on by Chinese merchants. The in novation will continue, and to a certain extent it affects the old channels through which exports moved to market. FOR THESE GOOD REASONS... GO. EMPRESS Reason /...Record size. Reason 2...Record speed. Reason 3... Luxury of Pacific and Atlantic standards. More Reasons...? Ask anyone who’s made an “Empress" crossing! Fortnight ly sailings from ORIENT TO VICTORIA AND VANCOUVER Choice of 2 Routes... Direct Express: Empress of Asia and Empress of Russia make trans pacific crossing from Yokohama in 9 days. Via Honolulu; Empress of Japan (largest, fastest liner on Pacific) and Empress of Canada add but three days to the journey.... First and Tourist Class. Also, Third Class. RAILWAY SERVICE ACROSS CANADA MAY SUGAR REVIEW By Geo. H. Fairchild New York Market: The improvement in the market noted in the latter part of the pre vious month was main tained during the month under review. Philippine sugar afloat and for May shipment was sold during the first week at 2.75 cents to 2.80 cents, Cuban sugar at 1.40 cents to 1.42 cents c. and f. and Puerto Ricos at 2.75 cents. Favour able news early in the week from Washington caused the Exchange quotations to advance 3 to 4 points on the 2nd. At the close of this week another advance of 3 to 5 points was registered on the Exchange. A further improvement took place during the second week when Philippines afloat were sold at 2.82 cents to 2.83 cents and Puerto Ricos for June shipment at 2.85 cents. Although op erators bid for Cuban sugar for June shipment at 1.53 cents c. and f. on the 7th, business was done on the basis of 1.47 cents c. and f. for sugar at hand. After showing a net gain on the 9th of 6 to 7 points, quotations on the Exchange at the close of the week recorded a net loss of 5 to 7 points against the closing quotations of the previous week, as the result of the uncertainty which developed and pending the issuance by Secretary Wallace of quota regulations in con nection with the Jones-Costigan sugar control act which President Roosevelt signed on the 9th. Upon signing this act, President Roosevelt issued a proclamation that the import duty on Cuban raw sugar would be reduced to 1.50 cents per pound effective on June Sth. The price of cane refined sugar was reduced on the Sth to 4.20 cents per pound, while that of beet refined was reduced to 4.00 cents on the 9th. OXYGEN Compressed Oxygen 99.5% pure HYDROGEN Compressed Hydrogen 99.8% pure ACETYLENE Dissolved Acetylene for all purposes WELDING Fully Equip ped Oxy-Ace tylene Weld ing Shops. BATTERIES Prest-O-Lite Electric Stor age Batteries Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 May Sugar Review CHARTERED BANK OF 7his™al,a Capital and Reserve Fund............................................... £6,000,000 Reserve Liability of Proprietors.................................... 3,000,000 MANILA BRANCH established 1872 SUB-BRANCHES AT CEBU, ILOILO AND ZAMBOANGA Every description of banking business transacted. Branches in every important town throughout India, China, Japan, Java, Straits Settlements, Federated Malay States. French Indo-China, Siam, and Borneo; also in New York. Head Office: 38 Bishopsgate, London, E. C. C. E. STEWART, Manager, Not Merely Travel When you plan a trip, either on business or for pleasure, consider the means of transpor tation as carefully as you consider your journey. Look for Comfort and Safety in a dependable means of Transportation. These are important features found in Ma nila Railroad coaches which are provided with all travel conveniences. For parties preferring to travel by train a RE CREATION CAR appropriate for Dancing and Music during the trip is furnished without addi tional charge. Our Bus Service for Excursions and Sightseeing trips is second to none. Our equipment is of the latest type. It pays to investigate what the Manila Railroad has to offer in the way of travel comfort, safety, and service either by train or motorbus. Remember Also our RADIO and TELEGRAPH SERVICE is offered to you when other means of communica tions are not available in your hours of need. For further information, inquire from the local station agent or call up Telephone 4-98-61, Central Office, 943 Azcarraga, Manila. Manila Railroad Company The market was quiet and uncertain during the early part of the third week, only insig nificant transactions in P. I. and Puerto Rican sugars having been made at 2.80 cents. The improvement resulting from the inflationary silver measure was reflected in the markets in general and more business in sugar occurred during the latter part of this week at unchanged prices. Weakness developed later, however, influenced by the statistical position being against the market, and there were no buyers of duty-free sugars at the close of the week at 2.80 cents. Pending the announcement by Secretary Wallace of the quotas to be allocated to the various non-continental areas, the market remained auiet with a declining tendency during the fourth week. Transactions in prompt shipment Cubas were made at 1.43 cents c. and f., while prices of Puerto Ricos declined to 2.75 cents. The Secretary of Agriculture on the 21st imposed a tax of about 3 cents per bag U. S. currency retroactive to May 9th on all sugar bags imported from the Philippines into the United States to protect cotton. Accord ing to informal advices received in Manila from Washington, the tax on sugar containers must be paid by the person who owns the sugar and container at time of withdrawal from customs custody and control. Whether or not this tax will have to be borne by U. S. buyers, under the provisions of Section 18 of the Agricultural Adjustment Act, “must be determined from the contract itself”, according to Washington advices. In anticipation of the announcement by the Secretary of Agriculture of the quotas for non continental areas, Exchange quotations ad vanced on the 26th. This advance, however, was practically wiped out on the 29th as the result of hedging by Cuban holders combined with unrest in Cuba. The actual sugar market remained steady and quiet with insignificant transactions in futy-free sugars being made at 2.80 cents to 2.75 cents. The Cuban and in sular quotas which were finally issued by the Secretary of Agriculture on May 31st, are as follows: Short Tons Cuba............................. 1,902,000 Philippine Islands....... 1,015,000 Hawaii........................... 917,000 Puerto Rico.................. 803,000 Virgin Island............... 5,000 Futures: Quotations for future deliveries on the Exchange fluctuated during May as follows: July........................... September................. December................. January..................... March....................... May........................... High Low Latest 1.59 1.49 1.55 1.65 1.55 1.61 1.72 1.62 1.70 1.74 1.63 1.71 1.79 1.68 1.76 1.82 1.71 1.80 Stocks: Stocks in the United Kingdom, United States, Cuba, Java and European statis tical countries as reported May 24th were 8,028,000 tons as compared with 8,186,000 tons at the same time last year and 8,154,000 tons in 1932. Philippine Sales: Sales and resales of Phil ippine sugar were reported in New York during the month as follows: Cents per Pound Long Tons From To Sales......................... 85,000 2.75 2.83 Resales..................... 14,500 2.75 2.80 Local Market: In the belief that under the retroactive clause of the Jones-Costigan sugar control act the shipments of Philippine sugar to the United States up to May already exceeded whatever quota may be allotted to the Philippines, the local market during the month has been practically inactive due to unwillingness of exporting houses to commit themselves until the Secretary of Agriculture has issued rulings and regulations as to the operation of the sugar control act. The nom inal quotation during the first week in the export market was P6.00 per picul, but speculators were able to secure small parcels at prices as IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 29 RAIL COMMODITY MOVEMENTS By M. D. Royer Traffic Manager, Manila Railroad Company UROMIL Powerful Urenic Dissolvent Astonishing cures of the most rebellious ca ses of Gout Rheumatism Arthritis Agents for the Philippines BOTICA BOIE Uroiroplna 0.0S1: Benzoato lltlco 0.028; Saks plpcracinlcas 0.04S; Posfato dlsodlco 0.028; Esclplcnte ofervescente q. s. para I grn.' The volume of commodities received in Manila &BI during the month of May 1934, via the Manila Lumber and Timber, board feet. 683,100 The freight revenue car loading statistics for 1 four weeks ending May 5, 1934 as compared with the same period for the year 1933 are given FREIGHT REVENUE CAR LOADING NUMD ER OF FREIGHT Increase or COMMODITIES FRE1GHT CARS TONNAGE Decrease 1934 1933 1934 1933 Cars Tonnage Rice.................................................... 452 593 5,275 6,479 (141) (1,204) 176 1,767 623 116 1.144 907 53,577 27,389 914 26,188 Sugar Cane....................................... 2’,790 75 48,577 1,190 2,715 47,387 639 565 4,519 4,251 74 268 229 125 2,885 1,635 104 1,250 Molasses............................................ 148 4,305 2,603 55 1,702 33 (3) (33) Tobacco..................................... 19 5 228 (18) (223) Livestock.......................................... 37 50 179 (26) (129) Mineral Products............................ 283 3,221 3,426 (205) Lumber and Timber...................... 148 227 3,708 5,972 (79) (2,264) Other Forest Products.................. 9 6 63 30 3 33 Manufactures............ ................... 135 98 1,617 937 37 680 All Others including L. C. L.. . 2.541 2,411 15,213 15,365 130 (152) Total........................................ 9,384 5,502 144.782!1 70,340 3,882 74,442 SUM MARY Week ending Saturday, April 14 .. 2,978 47,084 16,327 1 1,743 30,757 Week ending Saturday, April 21 .. 2,567 1,359 18,055 1,208 20,059 Week ending Saturday, April 28 .. 2,070 1,543 32 * 289 19,106 527 13,183 Week ending Saturday, May 5. ... 1,769 1,365 27,295 16,852 404 10,443 Toto......................................... 9.384 5.502 144,7821 70,340 1 3.882 74,442 Note:—Figures in par en the * •is indicate decrease. Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders and Provisions SIMMIE 8s GRILK Phone 2-16-61 Port Area The National City Bank of New York Capital (Paid) - U.S. $127,500,000.00 Surplus - - - - „ 30,000,000.00 Undivided Profits „ 5,087,505.94 (as of Dec. 30th 1933) COMPLETE BANKING SERVICES MANILA OFFICE National City Bank Building IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 30 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 May Sugar Review (Continued from page 28) low as 1 * 5.00 and they later bid down to P4.00 per picul. No business was transacted, how ever, at this level. Lack of interest on the part of buyers for local consumption contributed also to the inactivity of the market. (*)Compilcd by the Philippine Sugar Association, June 9. 1934. (a)Have finished grinding. Crop Prospects: The latest information re ceived by the Philippine Sugar Association as regards the 1933-1934 crop disclosed that the current season will yield an aggregate of 1,392,967 long tons. The productions of the centrals which have finished milling and the estimates of those which are still grinding are shown in the attached compilation. The sub-allocation of the Philippine quota of 1,015,000 short tons or 906,250 long tons among the various producers in the Islands is expected to be announced by the GovernorGeneral at any time now. It is gathered that sugar producers are very anxious to know the basis of this sub-allocation as well as the parties who will be entitled to quota, especially in the case of purchased canes the producers of which cannot be traced and the status of planters who have no milling contracts with sugar companies. Philippine Exports: The sugar exports for the month of May as reported to us by private sources, amounted to 124,634 long tons of centri fugals and 5,079 long tons of refined or a total of 129,713 long tons. The aggregate exports for the first seven months of the current crop year beginning on November 1, 1933, and end ing on May 31, 1934, follow: Long Tons Centrifugals.................. 1,025,203 Refined......................... 56,706 2. 3. 5. Total..................... 1,081,900 ACTUAL PRODUCTION AND ESTIMATES FOR THE 1933-1934 CENTRIFUGAL SUGAR CROP( * ) Short Tons Lone Tons Bacolod-Murcia Milling Co. (a) Binalbagan Estate, Inc.......... (a) Central Azucarera de Bais .. Central Azucarera del Danao Central Bearin......................... Central Leonor........................ Central Palma..........................(a) Central San Isidro....................(a) Hawaiian-Philippine Co........ (a) Isabela Sugnr Company, Inc (a) La Cariota Sugar Central. .. (a) Lopez Sugar Central Mill Co. Ma-ao Sugar Central Co....... (a) North Negros Sugar Co..., .. San Carlos Milling Co............ San Isidro (De la Rama) .... Santa Aniceta (De la Rama). Talisay-Silay Milling Co....... (a) Victorias Milling Company .. Total for Neohos.......... Tons Long Tons 69,595 62,138 72,188 64,454 55,777 49,801 16.745 14,951 16.535 14,763 20. 21. v.nianioa ougar instate.......... t 22. Central Azucarera de Calatagan .....................................(a) 23. Central Azucarera de Tarlac.. (a) 24. Central Azucarera del Norte..(a) 25. Central Azucarera Don Pedro...................................... (a) 26. Central Luzon Milling Co. .. (a) 27. Hind Sugar Company............. (o) 28. Luzon Sugar Company.......... (a) 29. Mabalacat Sugar Company.. (a) 30. Mount Aravat Sugar Co....... (a) Bataan Sugar Co.....................(a) Calamba Sugar Estate.......... (a) 6,080 79,367 8.746 99,840 4,316 54,585 44.788 5.578 33)06 31. Nueva Ecija Sugar Mills ... (a) 5,500 32. Pampanga Sugar Dev. Co.. . (a) 100.342 33. Pampanga Sugar Mills............(a) 92.634 34. Paniqui Sugar Mills................. (a) 15,757 35. PhilippineSugar Estates Dev. Co............................................. (a) 9,844 Total for Luzon.......... 556,692 5,429 70,863 7,809 89.143 3.854 8,789 497.047 36. Asturias Sugar Central.......... 37. Central Lourdes.........................• 38. Central Santos-Lopez............. 39. Central Sara-Ajuy................... (a) 40. Philippine Sturch and Sugar Co............................................(a) 41. Pilar Sugar Central................. (u) Total for Pa nay......... 42. Philippine Milling Co. .(a) 13.679 12,213 Total for Mindoro .. 43. Bogo-Mcdcllin Milling Co. .. 44. Cebu Sugar Company............ Total for Cedu........... 45. Ormoc Sugar Company.......... 46. Rosario Sugar Milh................ 12.795 17.564 82,063 13.679 12,213 18.613 16,619 13,933 12,440 11,205 2,000 13.205 Total for Leyte. ........ 14,790 Grand Total......... 1.560.125 1.392.967 INSURANCE For Every Need and Purpose FIRE WORKMEN’S COMPENSATION AUTOMOBILE MARINE ACCIDENT BAGGAGE PLATE GLASS Atlas Assurance Co., Ltd. The Employers’ Liability Continental Insurance Co. Assurance Corporation Ltd. Orient Insurance Company General Agent E. E. ELSER Telephone 2-24-28 • • Kneedler Building THE YOKOHAMA SPECIE BANK — ■ ------- LTD. ■ = (ESTABLISHED 1880) HEAD OFFICE: YOKOHAMA, JAPAN Yen Capital (Paid Up) - - - - 100,000,000.00 Reserve Fund .... 122,750,000.00 Undivided Profits .... 7,648,164.33 MANILA BRANCH 34 PLAZA CERVANTES, MANILA S. DAZAI Manager Telephone 23759—Manager Telephone 23755—Account A Cashier Telephone 23758—Export <1 Import Dept. Telephone 23768—Deposit <1 Remittance Dept. R U B B E R Superior Qualify Dependable Service RING UP 2-18-01 the next time you need a Rubber Stamp and our Salesman will do the rest ■a fc^TTT r OTrri Sales Office: 2nd Floor IO1 Escolfa s T A M P S IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 31 7 Commodities Sugar...................................................... Hemp...................................................... Coconut Oil.......................................... Cigars (Number)................................. Embroideries......................................... Desiccated and Shredded Coconuts. Hats (Number)................................... Lumber (Cubic Meters).................... Copra Meal.......................................... Cordage.................................................. Knotted Hemp..................................... Pearl Buttons (Gross)....................... Canton (low grade cordage fibre).. . All Other Products............................. . Total Domestic Products.. United States Products. .. . Foreign Countries Products. Grand Total. PRINCIPAL IMPORTS March, 1934 Value % PRINCIPAL EXPORTS March, 1934 Quantity Value March. 1933 % Quantity Value Monthly average for 12 months previous to March 1934 % Quantity Value P211,342,943 14,789,137 9,622,958 29,741,515 18,673,867 78.2 0 * 4 0.5 0.4 0.7 0.1 0.1 2.1 P32.984.980 99.6 110,476 0.3 26,218 0.1 P33.121,674 100.0 Monthly average for March, 1933 12 months previous io March. 1934 Value % Value % 146,422,714 12,678,788 11,543,742 14,910,521 11,852,651 72 6 7 2 1 0 8 7 2 1 0 0 0 0 0 0 0 2 7 7 1 5 1 P22.517.896 100.0 CARRYING TRADE IMPORTS Nationality of Vessels March, 1934 62 6 8 1 0 1 1 0 0 0 0 0 0 0 1 P19,007,525 99 99,554 0 40,828 0 5 2 P19,147,907 100.0 Monthly aversge for March, 1933 12 months previous to March, 1934 Cotton Cloths................... Other Cotton Goods........ ■Iron and Steel, Except Machinery..................... Rice..................................... Wheat Flour..................... Machinery and Parts of.. Dairy Products................. Gasoline............................. Silk Goods......................... Automobiles....................... Vegetable Fiber Goods... Meat Products................. Illuminating Oil............... Fish and Fish Products .. Crude Oil........................... Coal..................................... Chemicals, Dyes, Drugs, Etc................................... Fertilizers........................... Vegetables......................... Paper Goods, Except Books.............................. Tobacco Manufactu res.................................... Electrical Machinery.. .. Books and Other Printed Matters........................... Cars and Carriages........ Automobile Tires............. Fruits and Nuts........ Woolen Goods.................. Leather Goods.................. Shoes and Other FootCoffee .....................-•• • • Breadstuff, Except Wheat Flour............................... Eggs, In natural Form .. Perfumery and Other Toilet Goode................ Lubricating Oil................. Cacao Manufactures, Ex cept Candy................... Glass and Glassware.. .. Paints, Pigments, Var nish, Etc........................ Oils not separately listed. Earthern Stones and Chinaware..................... Automobile Accessories.. Diamond and Other Pre cious Stones Unset.. .. Wood, Reed, Bamboo, and Rattan................ India Rubber Goods.. .. Soaps................................... Matches............................. Cattle................................. Explosives.......................... Cement............................... Sugar and Molasses........ Motion Picture Films. .. Other imports................... P 9.6 0.4 3.5 5.5 3.9 3.5 2.0 2.4 2.1 511,889 409,696 356,702 62,820 97,686 87,683 45,964 100,011 137,223 84,073 149,192 6,266 3.3 2.7 2.3 L 4 0.4 0.6 0.5 0.3 0.6 0.9 0.5 1.0 0.7 0.6 0.8 0> 0.5 0.5 0.2 0.2 0.' 8.: *910405 412,953 125,017 330.863 448,140 257,379 90,660 78,348 154,211 264,431 84,481 121,821 146,176 85,612 107,367 114,907 35,431 11.7 P 7.1 5.9 2.6 3^0 3.6 3.2 0^9 2.5 2.2 3.4 1.9 0.7 0.6 1.2 2.0 o'e 0.9 0.6 0.6 0.8 0'9 0.9 0.7 0.2 0.1 0.8 8^9 13.2 7^6 3.9 0.5 3.1 4^1 3.4 2.5 2.9 2.9 1.3 American. . British........ Japanese... Dutch........ German.. .. Norwegian. Philippines. Spanish . .. Chinese.. .. Swedish.. .. Danish........ Portuguese. Panaman . . Italian........ P 4,644,673 4,258,759 2,201,304 839,748 701,521 1,571,832 13,096 29.8 P 27.2 2.8 4.1 Value % 5 11 0 0^3 2.0 Value 2,375 % 4.6 5. 2 9.8 0.2 0.8 2^6 2.8 373,139 321,470 265,718 314,598 388,708 328,760 123,297 107,036 113,070 92,118 120,707 116,705 25,851 By Freight. By Mail. .. 2.7 Total. 2.: 2.9 2.4 0> EXPORTS Nationality of Vessels Monthly average for March, 1934 March, 1933 12 months previous to March, 1934 Value % Value % Value % 0.9 0.7 0.9 0.4 0.9 0.8 0.4 0.9 0.8 0.7 0.8 American. . British........ Japanese... German.. .. Norwegian. Spanish.. .. Dutch........ Philippines. Chinese.. .. Swedish.. .. Danish........ Panaman .. Italian .... By Freight. By Mail. .. 23.2 30.4 18.6 0.9 18.6 P 4,295,634 6,294,527 5,563,745 191,227 4,742,898 19 27 24 0 21 5 6 3 9 6 P 5,199,937 28.3 23.Q 25.4 1.8 12.7 717,122 6,894 77,210 819,710 120,000 942,031 2.2 0.2 2.5 0.3 2.6 0^5 379,411 1.7 2.0 0.3 3.5 0^6 0.9 3.3 1.8 0.8 P33,121,674 100.0 P22.517.896 100.0 P19,147,907 100.0 0^8 0.2 0^5 0.3 0.6 0.6 Total. TRADE WITH THE UNITED STATES AND FOREIGN COUNTRIES March, 1934 Monthly average for March, 1933 12 months previous Countries to March, 1934 Value % Value % Value % Total. TRADE WITH THE UNITED STATES AND FOREIGN COUNTRIES March, 1934 Ports Monthly average for March, 1933 12 months previous to March, 1934 Value % Value % Value % Iloilo.......... Cebu.......... Zamboanga. Jolo............. P27.496.731 14,736,638 4,814,503 235,923 39,624 953,244 490,965 56.2 30.2 9.9 62.6 24.0 11.5 o’; 1.3 0.6 P20,174,726 7,187,532 3,814,446 213,657 22,034 741,689 512,966 °-5 United States................. _ United Kingdom............ n q laJ?Bn................................. China................................ 0 ■8 French East Indies.... Germany........................... Australia........................... British East Indies.... Dutch East Indies......... Netherlands..................... Italy................................. Hongkong......................... Belgium............................ Switzerland...................... ------- Japanese-China............... 61.3 Siam................................. 21.9 Sweden............................. 11 7 Canada............................. (L8 Norway............................. 0.2 Austria............................ 2 4 Denmark.......................... 1; 7 Other Countries............ 3 7 8 2 5 7 3 0 0 1 Total. P48.767.628 100.0 P35,279,499 100.0 P32,667,050 100.0 Total. 77.8 2.2 6.0 3.3 0.9 0.9 0.3 0.2 0.2 0.6 0.1 0.3 74.7 2.6 7.3 3.2 0.3 1.9 0 * 6 0.3 0.4 0.6 0.3 0.2 0.4 04 32 THE AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1934 BUSINESS AND PROFESSIONAL DIRECTORY Kerr Steamship Co., Inc. General Agents “SILVER FLEET” Express Freight Services Philippines-New York-Boston Philippines-San Francisco (Direct) Roosevelt Steamship Agency Agents Chaco Bldg. Phone 2-14-20 Manila. P. I. Myers-Buck Co., Inc. Surveying and Mapping PRIVATE MINERAL AND PUBLIC LAND 680 Rizal Avenue Tel. 2-16-10 We American Chamber OF Commerce Journal P. 0. BOX 1638 TEL. 21126 0. 8. Santos Commercial Artist CUTS PRINTING TEL 2-27-05 320 Bustos MADRIGAL & CO. 8 Muelle del Banco Nacional Manila, P. I. Coal Contractors and Coconut Oil Manufacturers MILL LOCATED AT CEBU Manila Wine Merchants LIMITED P. O. Box 403 Head Office: 174 Juan Luna Manila, P. I. Phones 4-90-57 and 4-90-58 Branch Store: 39 Alhambra opposite Elks Club Phone 2-17-61 P. O. Box 1394 Telephone 22070 J. A. STIVER Attomey-At-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Investments Collections Income Tax 121 Real, Intramuros Manila, P. I. PHILIPPINES COLD STORES Wholesale and Retail Dealers in American and Australian Refrigerated Produce STORES AND OFFICES Calle Echague Manila, P. I. « « » * CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description International Harvester Co. of Philippines formerly MACLEOD & COMPANY Manila—Cebu—Vigan—Davao—Iloilo Exporters of Hemp and Maguey Agents for INTERNATIONAL HARVESTER CO. Agricultural Machinery “LA URBANA” (Sociedad Mdtua de Construcci6n y PrSstamos) Prestamos Hipotecarios Inversiones de Capital Patemo Building, Calle Helios MANILA, P. I. The Earnshaws Docks and Honolulu Iron Works Port Area Sugar Machinery Slipways Machine Shops Manila, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL Knee-Action Wheels—Riding comfort in the 1934 Chevrolet is one of the most important features it has. Important be cause in a light car riding comfort is very hard to maintain. The "knee-action” front wheels provide permanent, luxurious riding comfort for the entire life of the car. Fuel Economy—On the straightway, over mountains, through traffic, the 1934 Chevrolet Six cylinder passenger car is economical. Rec ords for years have shown it the most econ omical automobile. This year it is 12 per cent more economical than last year, ('lean cut power from the "Blue Streak” motor gives you the fuel economy you so much desire. Pacific Commercial Company Iloilo ------■ Manila ----------- Cebu PREVENTS DESTRUCTION FROM ATTACK BY ROT, TERMITES, WHITE ANTS OR ANAY, OF WOOD AND BOK-BOK AS UNTREATED WOOD. STAMPED ON LUMBER MEANS THAT IT HAS BEEN PRESSURE TREATED WITH A WOOD PRESERVATIVE OF EXCEPTIONAL MERIT ^S^LUMBER IS PERMANENTLY PRO TECTED AGAINST ALL FORMS OF ROT AND INSECT ATTA’CK. IT IS CLEAN AND TAKES PAINT OR VARNISH AS SATISFACTORILY ATLANTIC GULF & PACIFIC COMPANY OF MANILA Sole Licensee 71-77 Muelle de la Industria Philippine Islands Manila, P. I. IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL At Last— The makers of Mobiloil have found a way to bring the world’s quality oil to you exactly as it leaves the refinery—uncon taminated, undiluted, free from dust or grit. The new TAMPER PROOF TIN offers added protection to your motor. With this protective package, you see with your own eyes how the tin is opened .... how rich, full-bodied Mobiloil is poured direct, so to speak, from the Refinery into the crankcase of your engine, untouched by hand. TEAM-MATE TO MOBILOIL Ask today for Mobiloil in the new TAMPER PROOF TIN 75c. quart—P 3 gallon At all Socony Service Stations and Agents. STANDARD-VACUUM OIL COMPANY IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL