Journal. [1941]

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TH. AMERICAN CHAMBE OFOMMRC CUNA,.- I -I r;! A - _Zu4-",, ff MAN )IA HLPIE Vl~OL. XXI, NO. 1 JANUARY 194135CNAO 3 5 CENTAVOS

i "THE GAME OF A THOUSAND THRILLS" Ja i - Alai EVEHY 1NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: ORCHESTRA BALL ROOM KEG ROOM ~4 BARS ~ CONTINENTAL CUISINE * SPORTS A GYMNASIUM Air Coiditioned For Your Comfort:J. I PHILIPPINE REFINING COMPANY, INC. MANILA CEBU Producers of Coconut Oil, Copra Cake and Copra Meal THE SEAL, OF QUAITYr'L We Solicit Direct Shipments of ('opra Mar.ifjacti'rers o/ SAMPA(GUITA SHOIRTENIN(; (HAMPACA MARGARINE CAMIA EI)IBLE OIL 1035 ISAAC PERAL - TEL. 5-69-51 - MANILA II I Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER 11 II Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY I!l

T), I "(C-, — Merle Foster -Formerly a teacher in the Philippines, now, with Mrs. Foster, conducting a secretarial school at Arlington, Va. "Your book appeals to me as being valuable to the old-timer for the melnolies it recalls; to the first-timer for the understanding slant which it should give him of the Filipino, and to the never-timer for the valuable information about life in the Philippines and for its plain interest as a story... While not really an oldtinier myself, I am rather well acquainted with some of the places about which you write, having spent 2 years in South Leyte, 2 in Mufioz, and 'l-in Los Bafios." (Reference is to FILIPINOS, much material in which was originally published in this magazine).::::;:::: I[. Gilhauser -Retired Standard Oil Man and long time Journal friend. "In yoiul interesting write-up of ('aptain Har1ry Manning of the ss P!residctf I'<sl/hiig.tonu I had expected to see accoilnt iof al incident that you overlooked. It is very much worthwhile mentioning and no doubt led to (aptain Manning's rapid promotion. "In 1926 Manning was First Officer on the ss 'President Roosevelt when it achieved a remarkable rescue at sea. On January 26, that year, it rescued the crew of the freighter Antinoe in the North Atlantic during terrific storm, Captain Fried holding the Roosevelt in the teeth of the gale for 48 hours and Manning commanding the boats bringing the men off the sinking freighter. The Roosevelt lost 2 members of her crew in this adventure, but my recollection is that all men on the freighter, some 28, were saved." (We had heard of some such incident as this in Captain Manning's career when we were writing about him for our December issue, but were unable to get hold of the precise facts in time to include them in that story, so we are especially glad that Colonel Gilhauser has turned them up for us). [Cot:ed n te next pa::e [Conitivued on the next page] i I = I RESOLUTION: "Now as always, to contribute to the great American tradition of building for Strength, Safety, Economy, and Beauty-" (/o.LLt SIE ludctL. fo' 1941 MARIANO A. DE CASTRO Engineer.1 pa 570 Remedios Tel. 5-66-70 AUGUSTO A. DE CASTRO Architect,,, __ P i - R -1 -.1 I --- I lark and compann optometrists - opticians [ Third Floor Brias Roxas Building 75 Escolta Manila, Philippine Islands Phone 2-21-44 -- ~ — LL PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SURETY COMPANY OF THE PHILIPPINE ISLANDS execitdi,'s anoi covers BONDS Court. Customs, Firearm, etc. Plaza Goiti and Escolta INSURANCE Fire, Life, Marine, etc. P. 0. Bon 150 Tel. 2-12-55 - --- ---- ---— ~~~~~~~~~~~~ooumdo The American Chamber of Commerce Journal January, 1!.41 3

Letters Continued from page 3 Ernest H. Oesch -Plantation Manager, East Mindanao Estates, Inc., Padada, Davao. "Sixteen or 17 year ago, I imported seeds of the cedars of Lebanon and planted them on the mountainsides around Trinidad valley, Baguio. They germinated and were growing, but I have not been to Baguio since Easter 1925. If any of these plants are still surviving, they may be of interest to your friend Father Ewing. I also started the Sequoia gigantea there, as well as the famous large-coned pines of Queensland." (At the period Mr. Oesch mentions he was in voca tional education work with the education bureau).: * Thurman Arnold -Author-Lawyer —Folklore of Cap7talisin and Bottlenecks of Business: Assistant U. S. Attorney General enforcing the Sherman act against trusts. "It was a pleasure to hear from you. Since you have already placed the order for my book, you can give the autographed copy which I am sending under separate cover to a friend (like the deuce we will!) and thus I will not be engaging in unfair competition with the bookstores. "I look back at my months in the Philippines as the most pleasant I have ever spent anywhere. They are 8J/Af~ W#Vts//r cro 4wr am WEtRE YO(M Mt4WAXL AME? /Ab rP~tTOr~O -1 WH~`C~~)/OA YIQ4P R':!j a great bunch out there and give my regards to them all." (Arnold was here in 1934-1935 with Dr. C. N. Rosenquist and some months after the latter went back to Texas University, the two men's errand being to assist Governor General Frank Murphy in the conduct of the AAA program as it related to Philippine sugar. Arnold aims at entertaining the reader while he instructs him or pe!rhaps converts him to the Arnoldian viewpoint, an(l he shoots nothing less than bullseyes). Reuel S. Moore -United Pressman in charge of IJ. P.'s Manila office years ago, now on its London staff. "Your nice long letter arrived after I came back to London (from excursions for news into Ireland). I'm all right and everybody I know is all right. There are a few loose bricks and a little dust about but we are getting along all right. Actually, after the impressions I had formed from the radio and press reports I had expected things to be much worse than I found them. Your analysis of what caused the effect is very interesting. It is most amazing how the statesmen of the world could bungle us back into this in a quarter of a century.... Thanks for the Journal tearsheets,, which I have passed on to our financial editor." (Dinty's letter is dated at the Cumberland Hotel, Marble Arch, London, October 26. The parenthesis above is ours).::::;'. < A. W. Woods -Of the staff of the Silay-Hawaiian Sugar Central. "I have a little further information about the Monadnock that may be of interest to you. "After The Ed. J. Nell Company had removed all of the salable scrap that they could find, the hull was sold to a Chinaman. He found considerable quantities of brass and bronze that had been covered up) by the numerous coats of paint alpplied during the life of the ship. "After the Chinaman had removed all of the salable scrap that he could find, he sold the hull to the Visayan Stevedore Transportation Company, Iloilo. At that time, the late Giff Jones was the manager of Vistranco. He had the idea of using the hull as a storage warehouse for sugar and was going to anchor it near Siete Pecados. This would shorten the haul of Negros sugar, as there is good anchorage for ocean going steamers near Siete Pecados and the sugar would not have to be lightered to Iloilo. "These plans did not mature as it proved feasible to load ocean going steamers at off-shore anchorages a few miles from each of the docks of the Negros centrals. The hull was later on sold to Compania Maritima. I understand that it is now anchored inside the breakwater in Manila Bay, a short distance from Engineer Island, and that it is being used by Compafnia Maritima to store fuel oil for its inter-island vessels." (This closes our researches r'especting the monitor Monadnock). A GOOD IDEA-DO IT RIGHT AWAY! PEOPLES BANK AND TRUST COMPANY 605 DASMARI]AS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac. 4 The Amcrican Chamber of Commuierce Journal January, 1941

-.1. L. Van Norman — President of the Los Angeles Chamber of Commerce. "A twenty-seven thousand mile jaunt wasn't enough for me, it seems, for I have just returned to Los Angeles from our Chamber's tour to Mexico. Thank you for sending me the visitor's card, it is in my scrapbook along with other souvenirs of my trip. I found the circular most interesting and I have sent it over to our foreign-commerce department to be kept on file there. "Yours is a wonderful country and its people most hospitable. Perhaps it will be my good fortune again to visit the Philippines." (This letter came to Secretary Carl G. Clifford). *: * reau of Mines. In addition to the mining lease, annual assessment work, handling of gold, etc., there are explosives, water rights, mining timber, and the payment of rentals, royalties and taxes. "The running account deals with the actual experiences of a prospector on location and, incidentally, its offspring, mining, showing the struggles and chances after an outcrop is found until that particular thing becomes a nine-if ever. Its consideration is sympathetic to the mining industry; but it tells of all the grief to which prospecting is incident. "On pages 19, 20 and 21 of the November 1940, issue of the Journal, there is a contributed article, 'When the Character of Ore Shifted.' This article is so well written and so accentuates what has been stated elsewhere throughout the manuscript mentioned, that it would be nice to be able to insert it in any later publication in book form if, and when, such should be found convenient. "Your permission is hereby respectfully requested to make use of the article, 'When the Character of Ore Shifted,' in the manner stated in the above preceding paragraph based upon the stipulation that full credit be given to Journal and, in addition, to the author of the article, the latter to be furnished by your goodselves Judge L. D. Lockwood -Prominent member of the Manila bar and an Alternate Director of the Chamber of Commerce. "My attention has just been called to the April number of the Journal. My associate had put it on my desk when I returned but, not knowing that there was anything special in it, I had not looked at it until now. I now find your very good article on bus problems, and I wish to thank you for the same. "The Supreme Court has handed down left-handed decisions in the cases referred to in the article. The orders of the Commission putting the 25-year clause in our certificates were revoked, but not on the ground that the law was unconstitutional, but because the orders had been made without 'notice and hearing' as required by the law. "Justice Laurel, who wrote the decision, held that Act 454 is not unconstitutional for this peculiar reason: The Jones Law, and also the Philippine Bill, provided that any franchise issued by the Philippine Government would be subject to amendment by the United States Congress. (It is true that this provision of law was there, although nobody ever paid any attention to it and no franchise was ever amended by Congress.) Now, says Justice Laurel, the National Assembly has taken the place of Congress and, therefore, has the right to amend franchises. "I would like to have appealed these cases to the United States Supreme Court, but as the actual decisions were in our favor, we could not do so. The cases were remanded back to the Commission 'for further proceedings in accordance with law' and as yet nothing has been done about them.":. * * Henry H. Neibert -An American mining engineer in the Philippines. "The writer has finished a manuscript entitled, 'PROSPECTING: particularly in the Philippines,' intended to aid the prospector thru practical advice on staking, etc., and compiled data in the appendices covering the administrative requirements that impinge upon the prospector and miner. These latter requirements extend into bureaus other than the Bu i I ' ISE ~~~~~ W I l.Y L MAN~ILA].... ECR CO L HANIL, LE~CTRiC CO. IThe.A1imerican Chaimber of Commett1rce Journal January, 191l a

Z Who Walk Alone By PERRY BURGESS A gripping story of Culion told by a man who had been a national director of the Leonard Wood Memorial Foundation for 15 years. P6.05 Philippine Education Co., Inc. 101 Escolta, Ground Floor Manila I. -11 REMINGTON CUTLERY A complete line of POCKET KNIVES, KITCHEN KNIVES, HUNTING KNIVES, etc. America's Finest E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 IL Dine and Drink IPLAZA LUNCH "Famous for its foods" or If you prefer to sip your favorite cocktail or meal in a cozy corner-our Magic Glo Cafe is the most ileal place. Completely Air Conditioned along with the permission requested, if given. "Many thanks in advance for your co-operation." (Ok, Neibert-go ahead. The author is W. F. Boericke, evaluation engineer, Bureau of Mines, Commonwealth of the Philippines).:: *.: Lillian B. Lawier -Classics Department.. Hunter College, New York City. "Hunter College and I owe you the deepest apologies! You see, the college moved, bag and baggage, into its new skyscraper building during the summer and fall-a tremendous task, as you can well imagine. Great care was taken in the moving, but things did get lost, nevertheless. And among the lost things which turned up just this past week was the beautiful copy of your FILIPINOS. "Y ou must have thought me grossly unappreciative for not acknowledging the book long ago. However, now that I have the book I want to make ull for lost time. I have dipped into two or three of the sketches already, and can see that they are written in a delightful style. That carnivorous bat whose jaws you pried open and whhose neck vyo, w]rung with a steel glove oj yorl' hand haullts me; Clara Bow and Mary Pickford moving around the cage of the python and the mongoose stick with me, as do the legends of Kanlaon. Naturally, I gobbled up the archeological bits. 1 am looking forward to reading every word of the volume with deep enjoyment. I am proud of having a numbered volume of the manuscript edition, too... I often think of our brief visit to Manila.... Things certainly happenled to Mr. Murphy after he left Manila,, didn't they? And things certainly happened to the Philippines, too! In the present melee, I hope the Islands (lon't go under completely. "Incidentally, the young ladies shown on the back of the jacket of your book are completely charming. I see that they represent many different racial types-an excellent thing, for people have the vaguest ideas about the inhabitants of the Philippines." (E. J. "Joe" Haberer sent Dr. Lawler the book she speaks of, and also introduced her and a colleague of hers from Hunter to us when the delightful educators were making the Pacific tour a few years ago. Joe had met them at Japan, fellow passengers to Manila, and he and Dr. Lawler had conversed in Greek, just for p)astime, all the way down to the Philippines. Dr. Lawler writes on stationery of The Classical Outlook, of which she is the enthusiastic editor. Hunter College girls go in for study, but definitely; and their college is, for women, the largest in the \world. Our fews days of ruminating conversations with I)r'. lawler in Manila loom now\ as a fillip of inspira tion; and we suspect, h(er contentions for the old-fashioned classical groundwork in higherlv education ar'c altog{,t hc1 sound — lrecise diction, w\\itten and spoken, in books and the press these days \wou(l (do the wortld no harlm). 56 Plaza Goiti Manila FRED M. HARDEN Proprietor WISE & COMPANY, INC. Cebu MANILA Iloilo FOUNDED 1826 E X P O RTE 1 S Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum IMPORTERS Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds MANILA OFFICE Wise Building, Juan Luna Cable Address "SAPIENS" Standard Codes,.,,,,!.....'.....:,~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 6 The A mlcrican. Chamber of Commerce Journal Janrllyt'r), 19.l1

Bucking the Storms of War -- Their buying power maintained by the American market almost exclusively, the Philippines have greatly increased their U. S. Imports. The reader will note a tabulation across the lower half of this page covering export values of principal Philippine exports in two 5-month periods of 1939 and 1940, enabling him to make rapid comparisons. Full years could not be taken, data being lacking f o r November-December 1940. For the 10 months, total values of Philippine exports in 1940 were off only P7,082,251 from their total values for the same period in 1939. General exports (all those outside the tabulation) were up P9,522,966. Manila hemp was up P730,339. Copra was down P6,141,930. Coconut oil was up P4,053,239. Cigars were up P397,112. Leaf tobacco was down P2,699,403. The year 1939 was dull for Philippine agriculture, the year 1940 was perceptibly worse. It was particularly bad for coconuts and tobacco. Minerals included, 1940's exports exceeded 1939's in value; minerals employ labor and yield net dividend incomes, and it is right to include them in the bases of the public's buying power. Sugar, with its quota acceptance in the United States, brought P89,640,810 in the first 10 months of 1939, and P76,446,621 in the first 10 months of 1940. The difference is P13,194,189. Such differences were halfway made up in lesser exports. World demands ended in May; our readers already know that we think this ended an era and was not a mere wartime catastrophe. The real phenomenon is that so much could be sold in the United States. The Commonwealth frankly acknowledges this dependence, and that markets to be sought under the independence act are not to be had, so the 5 - year restrictions, just beginning, on items of Philippine commerce in the United States, are sought to be mitigated or removed. Their purpose was to constrain the Philippines to reform their economy and sell ii other markets, and this is plainly out; Their removal would maintain buying capacity here for American manufacturers accepted duty-free, and under the revised internal revenue, would materially assist in keeping up revenue collections. It is true that this is a concealed charge against the cost of goods, but a tax that can be endured. In the present storm, the Philippines seek only safety on a fairly even keel; they ship some water, and are prepared to ship more, but they don't want the boat to go hull-over and sink altogether. Philippine im I I --- ~ - Copra I Coconut Oil I Copra Meal l Leaf Tobacco January..... February.... March....... April......... May......... Jan. to May June........ July......... August...... September.... October...... June to Oct. 1940 1939 P 2,012,701 P 1,447,471 2,399,095 1,876,350 3,214,123 2,406,441 2,167,0691 2,548,869 1,548,194 2,330,640 11,341,182 10,609,771 1,227,967 1,818,280 995,453 2,537,956 815,438 3,184,506 609,445 2,569,452 1,768,776 2,189,226 5,417,079 12,290,420.I 1940 1939 _ I __ II I 1! I I I P 1,651,834 1,536,545 2,658,574 1,280,757 2,952,418 10,080,128 1,470,978 1,969,649 1,633,159 1,526,555 1,584,305 8,184,646 P 1,945,458 I 821,856 2,007,868 1,225,058 1,869,030 7,869,270 1,659,991 866,411 858,956 1,992,317 964,950 6,342,625 1940 P 311,408 178,281 473,898 311,615 254,696 1939 P 335,291 265,590 342,619 247,347 429,938 I 'I I 1940 1939 P 57,662 P 916,917 66,260 428,687 98,249 815,741 345,331 686,645 110,175 97,642 677,677 2,945,632 106,624 735,835 I 1,529,898 1,620,785 i I I - 355,659 143,825 156,693 114,048 141,146 855,294 325,320 404,956 243,730 335,236 351,638 1,660,880.I. I I II I 398,340 7,513 11,803 101,648 q25,928 Cigars January..... February.... March..... April........ May......... Jan. to May June......... July........ August...... September... October..... June to Oct.. P 202,077 709,621 565,619 611,463 536,083 P 278,584 441,747 569,684 369,607 467,034 I F I F l I I Manila Hemp P 1,952,402 1,983,045 1,871,950 2,009,505 1,856,955 P 1,5'72,905 1,578,855 1,757,978 1,830,523 2,060,348 -L i i I II I All' Others P15,671,033 17,250,945 19,800,120 22,455,682 19,185,882 T 5,276,780 20,821,828 23,105,969 19,268,436 25,684,035 I 0I I Total P21,659,117 24,123,792 28,782,533 29,181,422 26,4.14,403 36,566 14,106 92,609 178,26f 1,057,376 Total P24,470,682 26,234,91$ 30,006,306 26,176,48$ 32,938,667 2,624,863 2,126,656 9,673,S57 8,800,609 94,363,662 94,157,048 130,191,267 139,827,047 725,826 649,242 2,141,263 1,702,729 21,653,382 23,988,977 27,681,ft99 80,880,374 197,491 638,375 2,218,866 1,691,289 18,661,959 18,070,074 24,585,583 24,245,621 585,250 559,037 1,633,882 1,910,674 18,736,137 17,492,762 23,568,072 24,463,771. 410,045 568,902 1,472,500 2,733,132 20,035,184 1:3,741,702 24,179,580 22,033,350 875,871 580,022 2,528,45 2,097,881 17,366,313 13,842,810 24,366,504 20,204,781 l I 5285 1 142, 524,3 045 2,894,483 2,995,578 9,994,9561 10,135,705 I 96,452,9751 87,136,325 I 124,381,438 121,827,909 — = --- —--- ~ I~~~~~~I II; I',C American Chamnber of Comnterce. JoUrnct a(tnitary, 1941 7

ports from the United States during the first 10 months of 1939 were valued at P190,811,696. In the same 1940 period they were valued at P233,547,903. The upping was P42,736,207. The real difference was much more, in that more American ships were hired for the freighting of cargoes, though more Philippines ships were used, too. When the figures come out, the difference for the full calendar years will be found even larger. On other pages of this issue of the Journal appear considerable excerpts from Mr. Manuel Roxas's December address to businessmen in his capacity as Secretary of Finance. They show how he proposes that the Philippines weather through the prevail L Chamber of ComrmAPe Annual Meeting Secretary Carl G. Clifford of the Chamber of Commerce announces that the 21st annual meeting will be held at the Chamber of Commerce Friday afternoon, January 31, at 5 o'clock, in accordance with the bylaws. Five Directors, 2 more than normally, are to be elected at this meeting, by Active Membership votes. Three Directors are to be elected for full terms, 3 years, to succeed Directors S. F. Gaches, H. M. Cavender, and N. H. Duckworth. One Director is to be elected for 2 years, to fill out the unexpired term of R. L. Reynolds. One Director is to be elected for I year, to fill out the unexpired term of E. M. Grimm. The full directorate consists of 9 members, 3 terms expiring each year. Four alternate Directors are elected at each annual meeting, for a term of I year. The present alternate Directors are H. Dean Hellis, Judge L. D. Lockwood, Robert E. Cecil, and C. M. Hoskins. i ing situation. Philippine farming suffers bitterly. We have some January comparisons. In January 1935, export sugar brought P6.22 per picul, against P5.30 now. Copra brought P8.60 per 100 kilos, against P3.75 now. Even from January last year, sugar is off 78 centavos per picul, and copra P1.92 per 100 kilos. (Now means January 2). The principal contrast is Manila hemp. Grade F brought P8 per picul in January 1935, P11.875 in January 1939, P12.125 in January 1940, and P13.00 on January 2 this year. This indicates the American market. Grade J-2 brought P5.25 per picul in January 1935, P6.00 in' January 1939, P6.50 in January 1940, and P6.25 on January 2 this year. This indicates the United Kingdom market. The local office of The National City Bank of New York has just received advice from its Head Office of the appointment of Mr. Irving G. Spering as Accountant and Pro-Manager, effective January 9. Mr. Spering joined the foreign staff of The National City Bank of New York in 1929 and has served the entire time in the Philippine Islands. THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed. helpful to the Commonwealth's economy. Subscriptions P4 a year - Foreign P6 -7 REVOLUTIONARY NEW FEATURES AMBASSADOR SIX AMBASSADOR "600" AMBASSADOR EIGHT MORE NEW FEATURES THAN ANY OTHER 1941 CAR BACHRACH MOTOR CO., INC. PORT AREA, MANILA SoI an3 save monee evey mule! 8 The American Chamber of Com,,erce Journal January, 19O

Manila and Quezon City The new Capitol and University Center, Quezon City, 30 square miles in area, adjoining Manila but separately incorporated, may have such growth as fate holds in store for it without marked influence on Manila herself. Manila keeps a keen weather eye,cocked toward Quezon City, wondering what storm is brewing there. What damage, if any, will be done Manila property values by this new, highly favored, better-dressed sister of the metropolis? Or is it after all but Cinderella, whose glamor, at the stroke of some dark midnight, will change to rags; when Quezon City may become Manila's kitchen slavey? We look for nothing of the sort. Quezon City has a charter, it is true, and 40,000 people live in the villages the charter embraces. But the place adjoins Manila and is essentially a Manila suburb. Modernized transportation is the basic explanation of Quezon City. The site as a whole is large, 30 square miles extending from New Manila at San Juan to San Francisco del Monte. It will fill up with the homes of folk whose work is either there, in the government, or in Manila, and the drive back and forth, even by bus, will be a matter of a few minutes only. Quezon City startles Manila merely because Manila has been growing so rapidly and overflowing into all her environs. For the most part, we think, as we are also assured, it will be only her natural portion of this overflow of population that Quezon City will abstract from Manila. When the Capitol goes to Quezon City, the officials and employees affected will either build or rent out there or commute from their homes in Manila. The change will not be deeply noticeable. When the Hall of Congress rises there, another group will make similar choice. Each man will have a stake in Manila. He will not sacrifice this in obtaining something more out there. What kind of hole will be left behind in the heart of modern Manila when the University of the Philippines moves out to Quezon City? The University's undergraduate enrollment is 8,000 students. Manila is likely to take even that hurdle in her stride. Perhaps some enterprising school corporation will take the -,r ww,-1 Substantial Taft Avenue Home Manila buildings and campus for use of a private university, and occupy them with more than 8,000 self-educating undergraduates; or the Commonwealth will appropriate them for offices, and fill them with 8,000 clerks. Nor will the situation radically change when the permanent Philippine Exposition goes to Quezon City, where some of its buildings, as also some for the University of the Philippines, are already going up. Growth will come along in Manila, to fill the gap. Quezon City, with naught but boulevards and avenues, and a public park for every community comprehending 50 acres of area, will nuzzle against Manila's slummy shoulders; but with no hurt, because the slum families are living where they do in order to be nearby their work; the factories will remain where they are, and so will the neighborhoods around them. Even a great national zoo, that ought, we think, to be one of the first general betterments at Quezon City, will mainly attract sightseers from Manila during holidays and weekends, since for the most part people will continue to live near their work. A national zoo is much needed. Let it be at Quezon City, in order that Philippine children will no longer have to grow up ignorant of the animal world and sometimes cruel toward it. It is a medievalism that the Philippines have no zoo. Quezon City is just the site for such things, and for thousands of homes, and for such shops and retail business as the demands of such a suburb will naturally support. When we had looked Quezon City over several times, we went up to the North Harbor and gandered at that with some amazement. There lies a new port area of 250,000 square meters reclaimed from the bay, ready for railroad sidings and factories, and just in the opposite direction from Quezon City, though conveniently enough placed, if families wish to have homes in Quezon City, for breadwinners earning P100 or more a month. Workmen like living near their work, however; 10 centavos a day for a bus is 10%o out of 1 peso, and it is still widely true in Manila that a peso is a good day's wage. There will therefore be uses for the North Harbor development, and consequent stable values for real estate there, and quite other uses, with other values, for Quezon City. One growth will somehow supplement the other, we hazard. We saw 7 piers rising at North Harbor, to accommodate interislanders heretofore berthed in the river. With this new facility outside the river, on the bay, the interisland fleets can be made up of larger ships. We rather look for slipways to be installed, and actual shipbuilding to be revived. It may not come to pass, but would not surprise us if it did. In any case, if North Harbor is indicated for heavy industry (what it must be built for), then the adjacent property is in for a rise of values: lessors can stiffen charges for homesites, workmen will be living near [Continued on page 12] ^The American Chamber of Commerce Journal January, 1941 9

_ ___ I_ II ____ _ American Chamber of Commerce of the Philippines DIRECTORS: Mr. S. F. Gaches, President Mr. E. D. Gutinelfinger, Vice-Pres.. Mr. P. A. Meyer Mr. H. M.- Cavender Mr; E.'M. Grimm Mr.; J. 'L Headington Mr. J. C..,KRokwell Mr. N. H. Duckworth Mr. R. L. Reynolds ALTERNATE DIRECTORS: Mr. H. Dean Hellis Mr. L. D. Lockwood Mr. Robert E. Cecil Mr. C. M. Hoskins TREASURER: Mr. Robert E. Cecil SECRETARY: Mr. Carl G. Clifford reduced. Teachers felt the pinch, along with all other personnel. The natural result is that provincial officials have set about raising the assessed valuations of Davao farm property at the very worst time for doing so-when Davao copra sells below actual cost, corn at 15 cents, 30 centavos, a bushel, and abaca at no extraordinary prices. So the officials hope to get by with artificial property valuations and regain the political classification of the province (lost by chartering the chief business and population center), together with the schedule of salaries enjoyed in the past. In an agricultural country, if chartering a city throws an enormous new tax burden on the farms that support that city, the game is surely not worth the candle. Plantation copra in Davao brings no more than P1.50 per picul. Planters don't get P25 a ton for it, though the Commonwealth gets more than P85 a ton from its oil content taxed 3 cents a pound in the American market, the proceeds being turned back to this government. Coconut farmers, Filipinos, in Davao, back from the gulf, selling to general-stores, usually Chinese establishments, get only about 1 peso per picul for their copra. The plantation may gross 45 piculs per hectare a year, or P67.50. This means actual loss. The mere farmer will not do nearly so well; his fields will not be so well kept, cleaned, and completely planted up; to him a hectare will bring less than P40 a year. Here is a new tax schedule from a Davao town: Crop ~ Land Plants Total Gross Value Taxed at Taxed at Valuation of Products Coconuts.... P180.00 P700.00 P880.00 P 67.50 Abac...... 180.00 280.00 460.00 250.00 Corn....... 100.00 100.00 150.00 Ramie...... 200.00 280.00 480.00 1 500.00 COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer Wilson E. Wells, Chairman, House Committee HOUSE COMMITTEE Wilson E. Wells, Chairman Robert E. Cecil Bertrand H. Silen FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford L. Holt Ruffin Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen MEMBERSHIP COMMITTEE Ralph L. Reynolds, Chairman Allen B. Sulzer J. C. Robb J. C. Cowper T. R. Worthen Hubert McGowan Robert Miller R. D. Standish Willard W. Trevor I Geo. Bissinger LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman H. B. Pond B. S. Ohnick J. H. Alley E. E. Selph E. A. Perkina R. Janda F. H. Noble BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing EL Byron Ford J. W. McFerran MANUFACTURING COMMITTEE M. S. Kestler, Chairman (Coconut Oil) G. T. Harrmann (Copra & Des. Coco.) Alexander Frieder (Tobacco) E. C. Holbrook (Steel, metal) H. P. Strickler (Cordage) F. H. Hale (Shoes, leather, rattan) P. J. Walowit (Embroideries) S. M. Jones (Sugar) J. L. Headington (Buttons) ENTERTAINMENT COMMITTEE D. M. Cameron, Chairman Willard W. Trevor E. L. Kincaid Wilson E. Wells PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman G. P. Bradford F. H. Myers J. C. Littig C. V. Morton FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman G. Ivory J. M. Crawford M. S. Kestler B. Fairchild HEMP & COCONUT COMMITTEE H. P. Strickler, Chairman, ) N. H. Duckworth H. Dean iellis J. H. Alley J. D. Conrad Abaca and ramie are chief crops of Japanese plantations; our report tells us that 99%0 of the ramie is Japanese, and that planting is undergoing rapid expansion. Recently improved abaca prices account for the crop value per hectare of P250, compared with P67.50 for copra and P150 for corn, the copra being partly an American-plantation crop, the corn a general Filipino crop. Discrepancies in valuations of lands and plants, in comparison with the gross values of the crops produced, appear quite evident. Getting P67.50 from a hectare of coconuts, the owner pays on a total valuation of P880 per hectare: P180 for the land, P700 for the coconut trees. But getting current returns of P250 per hectare from abaca, the owner pays on only P460 per hectare: P180 for the land (the same as the coconut owner) and P280 for the plants. In other words, the abaca grower gets a current gross price nearly 4 times the amount his neighbor gets for copra, but is taxed at valuations hardly more than half those assessed against his neighbor who grows coconuts; that is to say, the crop that will not net actual cost is taxed about twice as much as the crop that makes considerable net profit. On the very best land, copra grosses P67.50 and the tax is P9.90 per hectare. Abaca grosses P250 per hectare, and the tax is P5.18. Corn grosses P150, and the tax is P1.13. Ramie grosses P500, and the tax is P5.40. It may be inconvenient to revalue lands according to their relative production every year, but it is surely not as inconvenient as loss of a primary industry such as copra production would be. Fifteen per cent of the cultivated land of the Philippines produces coconuts, and 1/4 of the country's inhabitants, or 4 million persons, live from this crop. The excise tax proceeds from Philippine coconut oil sold in the United States, is 40% of the ComThe American Chamber of Commeroe Journal January, 194 l UNSOUND CITIES Unimpeachable data have reached us, showing how unsound it is from the tax viewpoint to charter large provincial towns as cities. We dare say, too, that it doesn't work out good in other ways. Our data pertain to Davao. Before the town of Davao was chartered in 1937 as a city, taxable property in the province of Davao totaled about P47,000,000. Then came the charter, and P25,000,000 worth of this property was included in the chartered area; only P22,000,000 remained to the province firom which to extract taxes to carry on. The province, of course, fell in classification. Provincial salaries were 10

monwealth's revenue. Also, of 2 million coconut owners, not 2,000 are in any sense of the word large owners, or not 1 owner in 100. So it seems that at least in this one town of Davao, in general, a small Filipino coconut grower finds his holdings valued out of all proportion with those of Japanese planters and corporations used for abaca and ramie. We dare say that the temptation to impose these new valuations on Davac's farmers would not have risen at this time, the least propitious time conceivable for upping agricultural taxes, had not the province lost so much revenue from the chartering of its capital as a city. Since the central government did this, surely it is to the central government that the victims of it have the privilege of looking for relief from impending misfortunes from it; first, for postponement of these new assessment values; second, for adjustment of these values to a fairer standard. If making cities out of towns penalizes farming in the vicinity involved (when the reverse ought to be the case), is it not a luxury that may be put off to better times? AMPLIFICATION In the Philippines Free Press of November 30, James G. Wingo reported the following from Washington: Resident Commissioner Joaquin M. Elizalde recently appeared before the National Defense Commission to protest against the federal specification of Davao fiber for the manufacture of Manila rope., for this would exclude the fibers produced in other provinces. Elizalde pointed out that there no longer was any necessity for the specification of Davao fiber since the recently created National Abacd Corporation had taken steps to insure the production of only quality fibers, which meet the federal rope specification.... He also tried to dissipate U. S. officials' fears about this country's supply of hemp by promising Philippine cooperation in laying aside sufficient abacd stock for U. S. emergency needs. Taking up the latter part of this commentary first, we doubt not the sincerity of the Philippines government in wishing to cooperate with the United States in buying up an emergency stock of fiber, but we don't think the mechanisms for putting good intentions into practice exist. They hardly exist in the National Abaca Corporation, whose objective is to lay a floor under abaca prices much as America herself lays a floor under cotton prices. In justification of its own existence the corporation will work along that line, quite at contraries with America's intention to buy fiber as cheap as possible. We believe we have seen an announcement to the effect that the corporation would-go into the market and buy and warehouse fiber, with the aim of forcing prices to higher levels. That's its business. If it has an economic purpose at all, this is it. Obviously, skepticism as to final outcomes is warranted. Now for the first part of the Wirigo report. Hemp is bought by quality, not by arbitrary grade. No entity, not even the government, —gets by on a grade mark. Buyers ascertain whether the assertions as to grades are phonies or not. Reputable grading is therefore the crux of trading in fibers. As we get it, Davao grades more closely than Luzon. Grade G in Luzon would be K, at least, in Davao; and so with I, J1, and on down the line. Ropemakers have to have certain qualities of fiber for specified types of rope. Where they could use Davao G, they might use Luzon I, or S2, if they used the Luzon output at all; the thing is that when in the market for Davao G they want fiber of that general quality, and Luzon G is not invariably the answer, or not the answer at all. Where substitutions are not possible, Luzon is not bought. Calling a fiber G does not make it G. Accurate grading does. The big buyers for the rope mills abandoned Luzon and went to Davao many years ago, yet long after government inspection and grading went into force, because Davao proved to be the better source of actually standardized fiber, and was rising all the time in quantity grown. Davao strips chiefly by machine, Luzon strips altogether by hand. There is another fundamental difference. Yet hand-stripped fiber can be very highgrade, and there are times when Bikol highgrades outsell Davao equivalents because there is intrinsic difference in the fiber aside from grading and one fiber can sometimes be used to better advantage for certain ropes than the other. The Manila rope mills, like their competitors in America, regularly patronize Davao fiber and pay top prices for it-never hesitating to protest when it is not high quality, according to specified grade, and machine stripped. The Elizalde mill does this, using quantities of Davao fiber right along. If the American navy specifies Davao grades, what it really specifies is quality; no doubt it will pay Luzon, for the same quality of fiber, all that it pays Davao. But it will hardly buy Luzon G for Davao G, for we understand that the grades lettered on the bales are the only actual similarity-the fiber -in the bales shows a standard difference. In general, Luzon fiber is marketed by loose methods and Davao fiber by the standard methods of the auctions carried on by the neighborhood cooperatives, a Japanese innovation. The buyers at Davao attend these auctions, where the lots are placed together according to grades. The growers' associations stand behind all transactions; if a lot turns out below grade, the buyer gets a rebate without question and the penalty finally -- Juices Are Good For You The only complete line of Famous Juices is Libby Order One Dozen Assorted SOLD EVERYWHERE I S Cans Today A 4 The American Chamber of Commlerce Joutrnal January, 1941 11

falls on the grower who wrongly certified his fiberexpulsion from the association being his final punishment. When Luzon has something similar to these arrangements, she will once more have an active fiber market. May we invite attention to the fact that it all grew up among the growers and is quite unsupported by the government? It is in fact one of the most laudable practices in agriculture we know of, resembling the accuracy with which Florida grades grapefruit, or Georgia grades melons, or California grades oranges. When Luzon growers of fiber unite, as they are all united in Davao, the practice will prevail here. But while Japanese hemp growers in Davao grow a lot of fiber and have introduced the auction sales just described, so that on any auction day the growers with hemp to sell get the highest current prices, it is a public illusion that Japanese are Mindanao's largest hemp growers. The largest hemp growers in Mindanao are Filipinos and Americans, summing them all up together, and this includes Davao. Similarly, most labor employed there is Filipino labor. The Japanese interest is large and well organized, but is not dominant quantity for quantity. Manila and Quezon City Continued from page 9 their work and house rents will rise, if not wages. How is all this to square with cheap exports and falling business volumes? It is hard to say, and rather unnecessary even to guess. Sheer urge of rising population will simply,push things along. It is more basic that only 7%o of Manila's families own their own homes, the land and the house together, and there is not an improved public park north of the Pasig. Slip a little leaven of public improvements into this general area, and the whole mass of values will be leavened. It will also be logical for elite building to keep on down the bay, south of the city, through Pasay and Parainaque. Families able to pay good rent for good apartments will swing that; and besides, look at all the snooty shops sprinkled through that district already, like bangles on milady's gown. Swanky private schools, and the American School, also have their part in this; and po- ' pular churches, and favorite clubs.' Ermita will live, too, liked by the Spaniard particularly. A lot of Government Center is already built alongside Ermita, whose hotels and eat-shops are varied to taste. Ermi- ' ta's realty prosperity is rooted deep. A Manilans have seen San Juan Heights, New Manila, and newer additions beside them develop during the past 20 years (outside the city's boundaries), with not one Spanish home in them. Spaniards like Ermita and Malate. As for the fashionable parishes of Manila 80 years ago, Carriedo into Hidalgo, Legarda, General Solano, Aviles, the San Sebastian and Quiapo and San Miguel districts, also Sampaloc, there is enough vested interest there to hold its values up nicely; and a good deal of light industry of an astonishing variety. Low bus A fares will even favor San Nicolas, Binondo, and Meisic. Though they 11,... _ _.., _ t,1~~~~~~~~. "-.. I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~.< Mi r _ nother Taft Avenue Home University Building under Construction at Quezon City shouldn't, yet they will. People will try to live near their work, and near public schools, and near the private schools through which older students pay their own expenses from work they have downtown. The natural summing up is that Quezon City will grow alongside Manila and benefit the old city rather than harm it. The new city will be a site for homes, the old one a site for everything. And so, obviously, the government intends. Manila is ideally suited to industry, and in the fullness of time is likely to harbor much industry of capital importance. Her advantages begin with her improved harbors, never stinted by the government. Beneath all else, she has an 80-mile system of industrial canals, making cheap the shunting about of products and supplies; and out her river and these canals, barges float into the roadstead and hud[Continued on page 381 12 The Amnerican Chamber of Commerce Journtal Jactuary. 1941

Finance Secretary Roxas Tells Business Taxes Won't Be Raised Nor Wages Cut Secretary of Finance Manuel Roxas, speaking at a luncheon given by the Chamber of Commerce of the Philippines, gave assurance of government efforts to ward off economic depression. The government, said he, will not impose new or increased taxation or reduce its expenditures. Secretary Roxas said that an entirely new and different approach to the problem will be followed so as not to harm local business interests or reduce the purchasing power of the people. He said that the government will adopt a new budget system, under which the government may create new funds through borrowing. Secretary Roxas also appealed to busir.ess men for cooperation, stressing the reed for stimulating new industries and increased production and harnessing idle capital and unemployed savings. Unemployed capital, he said, is worse than unemployed labor. He attacked the bad habit of hoarding money which reduces the purchasing power of the masses. Secretary' Roxas, after discussing generally present business conditions and pointing out the downward trend of govelnment revenues, particularly customs collection, indicated that the department of finance is considering certain measures that may help to relieve the situation. Among these he mentioned: such matters. If we were to adopt this system, we would not need to cut down our expenses particularly at this time when such a course would further reduce purchasing power among our people and adversely affect business conditions. Salaries need not be reduced, important activities may be continued and new ones started, and necessary public works could be constructed without interruption. The capital budget is being adopted in some countries, particularly Sweden. Our present system is based on cash income and disbursement on a yearly basis. This system is uneconomical and does not take into consideration the value of capital assets which in fairness should be charged not only against the present taxpayers but also against government income of succeeding years. Such a procedure will have the additional advantage of permitting the crediting to the capital account income derived from the operation of these enterprises for which the investment was made. If this system were to be adopted, it may be asked, "Where will the money come from to finance these capital investments, particularly public works, bridges, school houses, markets, hydro-electric projects, etc?" The answer is through borrowing. dered thrift and saving as a virtue, but thrift and saving is really injurious to the national economy if money saved is hoarded and not re-invested. Unemployed capital is as much to be deplored as unemployed men, if not more so, for unemployed capital not only reduces employment of labor and services but also reduces purchasing power. It is, therefore, necessary that the people of the Philippines realize that they should invest their savings if they want to help the country in promoting business enterprise and increasing employment. Of course, some persons may allege that there is a lack of investment opportunities in the Philippines today, but this is far from the truth because the standard of living of our people is still very low and our power to consume goods could be materially increased. This opens a vast field for private enterprise which has hardly been tapped and is a challenge to Filipino business men. Realizing the need for enhanced productive activity in the Philippines, the government has felt constrained to engage in business enterprises so as to lead the way for private business and is already and anxious to afford every assistance to private enterprise through credit and other facilities to stimulate production. ATTITUDE TO SAVING INTEREST TOO HIGH (3) To stimulate productive enterprise, it is necessary that interest rates be reduced. Much as the government has done in this respect through its banks, we should do more in order to provide private capital with the necessary incentive to engage in productive undertakings. I am of the opinion, moreover, that the government refrain from collecting any taxes for a limited period on certain industries that may be organized to venture in new fields because I believe that such industries, if successful, will not only bring added revenues to the government but will help in increasing employment and purchasing power. BUDGET SYSTEM CHANGE -- (1) The advisability of changing our budget system by adopting a budget that will show not only running expenses but also capital investments. Business concerns follow this method. They do not charge against income the amounts which they invest for plant expansions or construction of new factories and permanent improvements. We should adopt in the administration of government finances the approved methods of private business. Despite the fall in revenues, if we were to follow this procedure, we would not be operating at a deficit, for we could charge self-liquidating capital investments and other outlays of a permanent character against a capital budget which would not be wholly paid from the income of the year when the expenditures are made, but which could be gradually amortized from year to year from their own earnings or from government revenues. Such a budget would give a more accurate picture of the financial position of the government, for it would show not only the yearly income and outgo but also the total assets of the government, such assets to be depreciated and paid for in the same manner that a wellmanaged business concern would deal in (2) The reservoir of credit which may be made available to the government and to business including agriculture and industry must be supplied by the people at large through banks, insurance companies and other credit institutions. This requires a radical change in the attitude of our people towards savings. We have always consi The Anmerican Chamber of Coemnerce Journal January, 1941 13 1;

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Forecast of 1941 Philippine Mining: Review of 1940 Gold Output in 1940 over p78,000,000. Value of Base Metal Production increases sharply. The year 1940 in the Philippines was, for commerce, a generally drab one. For industry it was much better, and the mining industry was certainly one of its bright spots. The value of the gold production has established a new all-time record, and, based on output as reported for the first eleven months of the year, will exceed P78,000,000 for 1940. This compares with P72,174,000 in 1939, and represents an increase of about P6,000,000 or over 8%. Gratifying as this increase may be, it is somewhat less, both in value and in percentage, than the increase in 1939 over 1938, when the increase was over P7,800,000 or over 12%. In 1940, several new mines entered the producing ranks. The most important of these were Batong Buhay far to the north in Mountain Province, and Davao Gold, equally far to the south in Davao. The mills of both these mines started crushing ore too late in the year to make much impression on the total gold production of the Commonwealth for 1940. The major increases in gold production were made by the older established mines which either increased mill capacity, or milled a better grade of ore. Notable among these were Masbate Consolidated, Itogon, Treasure Island, Paracale Gumaus, Surigao Consolidated, and Mindanao Mother Lode. Lepanto Consolidated, the principal copper mine in the Philippines, and one of the really important copper producers in the Far East, marked up a substantial increase in the value of its by-product gold production, due to the greater gold content of the copper ore. The Surigao gold mines had a good year. Both Mindanao Mother Lode and Surigao Consolidated succeeded in milling more ore than in 1939, and maintaining at the same time better mill heads. Considerable construction and development work went on at East Mindanao, and it is expected that production will be larger in 1941. On the other side of the picture must be recorded the closing down of Kilometer 73 and Tap-i-an due to unfavorable under ground development and lack of ore. A new mill of limited capacity is scheduled to be erected on the San Ysidoro property across Lake Mainit. Outstanding in the Paracale field was the successful record of one of the smaller mines, the Paracale Gumaus, which through virtual doubling of its production has been able to maintain regular dividends. The three Marsman producers, San Mauricio, United Paracale, and Coco Grove, maintained about the same output as in 1939. A severe typhoon that swept through the Paracale-Mambulao area during the middle of December did a great deal of damage around the mines. Masbate Consolidated, after years of work and preparation, had an excellent year, and reached a new high in tonnage milled and bullion reco vered. Dividends were paid for he first time on the stock. The other principal mines in Masbate, IXL and Capsay, maintained regular production. In the Baguio field, the Itogon mine continued to maintain an improved grade of ore and development underground was encouraging. The Baguio Gold similarly had a good year, and the Big Wedge mine through persistent, courageous development work on the Keystone vein, has been successful in blocking out a new supply of good grade ore that has warranted plans for immediate doubling of the mill capacity. If delivery of equipment can be obtained, a considerable increase in production can be anticipated in 1941 for this property. Among the smaller producers, Treasure Island, located on Lahuy Paracale Gumaus Consolidated Mining Co. Mill. Millsite center, and oowerplant at riqht. at left, headframe top

Island, has made consistent gains in production during the year, and now ranks among the outstanding smaller mines of the Philippines. 1940 has been a good year for Philippine miners of chromite and manganese. Stimulated by the determined efforts of the American government to build up adequate supplies of strategic minerals for ini surance against shortage in case of " war, the price of manganese ore adI vanced during the year to about P33 i per ton FOB Cebu ports as compared k to an average price of P20 per ton in 1939, for ores containing 48% manganese. There was much activity in Siquijor and in Busuanga where notable manganese deposits have been developed, and considerable prospecting has been going on in Panay, Camarines Sur and Ilocos Norte. Final figures for manganese production are not available at this writing, but it is known that for the first ten months of the year, the value of manganese productions approximates P900,000 as compared with P766,000 for the whole year of 1939. Shipments for the year will doubtless exceed 50,000 tons. Most of this ore is shipped on contract to the United States, a striking reversal of trade trend over 1938-39 when Japan was the principal buyer. The chromite producers likewise increased production, but although they enjoyed a somewhat higher price for their product, their margin of profit was cut down by increased freight rates and insurance charges. A good demand persisted for high grade ores, but ores containing less than 48% chromite, particularly if the ore were not of the lump variety, had to take a lower price, and much of the latter went to Japan, as it was unable to come up to specifications for American buyers. Developments in the Zambales field, the principal chromite producing area, were encouraging during the year, and the potentialities of the field appear to be larger than ever. Aerial View of Suyoc Consolidated Plant IL, TIDE WATER ASSOCIATED OIL COMPANY Refiners and Marketers of Flying ~iA Gasoline Tydol and Veedol Motor Oils Mabuhay Kerosene Avon Diesel Fuel Oil Lepanto Makes a Good Record. The Lepanto copper mine at Mancayan in Northern Mountain Province continued to make substantial gains in production, and the larger profits have been promptly reflected in increased dividend payments. Not only has the grade of the ore improved materially in copper content, now averaging over 4%o copper, but the precious metal content also in 16 The American Chamber of Commerce Journal January, 1941

creased, and permits Lepanto to be included along with the other gold producers in the Philippines, in addition to ranking first among the copper mines. During the year a smelter was erected in the property, and it is now possible, if the management sees fit, to produce pig copper for direct shipment to the American market, instead of sending copper concentrates to Japan as is now done. The Hixbar mine at Rapu-Rapu, which like Lepanto is controlled by Nielson interests, continued to produce regularly and a small production was reported from other mines in Cebu. Undoubtedly, the unsettled conditions arising from the war have acted as a brake on new investment in copper mining, but several interesting new deposits have been located that may be developed in a more propitious time..- ~ ~. YI-u I -~s;--2`"""L';.-1 C. :~f e `v~,- *. c"3 a ~\~ or~,~I Lr i\.~r,,.....,.. a' \'. i; 3 100-ton Mill at Mapaso, Surigao Iron Ore Shipments Approximate 1,500,000 Tons. All four of the major iron mines of the Philippines, the Philippine Iron Company, Samar, Paracale Iron, and Gold Star, produced heavily during the year and their total shipments of iron ore will approximate 1,500,000 tons. Although fre quently badly handicapped by inability to obtain ocean carriers for their ore, the situation was rapidly improving in December. While there was considerable worry over the position of the Philippine iron mines in case a complete embargo on shipments of iron ore were declared against Japan by the United States, at the date of this writing, shipments are still proceeding freely. A pro mising new iron ore deposit has been developed during the year near Davao, and this should add materially to the total in 1941. 1941 Gold Output.Will Be Maintained At Normal Rate. What of 1941? It appears to be reasonably certain that the gold ri ENGINEERING EQUIPM ENT AND SUPPLY CO. (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal Shop Tel. 5-67-76 Office Tel. 2-41-41 MACHINERY AND SUPPLY DEALERS Agitators, Thickeners Air Conditioning Equipment Aluminium Castings Babbitt Metals Ball Mills Belt Hooks Blasting Supplies Blowers, Drill Press Bronze Bushings Cable Clips Carbide Lamps Centrifugal Pumps Chains, Winches Crushers, Screens Circular Sawmills Compressors Concentrating Tables Concrete Machinery Concrete Vibrators Conveyors Cutting Machines, Contour Steel Diesel Locomotives Dredges of all kinds Drill Steel Drilring Machines Duplex & Triplex Pumps Electric Motors Electric Tools Electrical Apparatus Explosives Fire Fighting Equipment Flotation Cells Gasoline Engines Generators Grinders Hacksaw Machines Hoists, Chain & Electric Hoists for Dump Bodies Leather Belting Logging Blocks Logging Equipment Magnetic Separators Marine Diesels Mechanical Packing Melting & Tilting Furnaces Mine Hoists Mine VWood Tanks Mineral Jigs Mining Picks Mining Shovels Nautical Instruments Oil Burning Equipment Outboard Motors Pile Hammers Pneumatic Tools Power Boats Precipitation Equipment Propellers Punches, Shears Recording Instruments Refrigeration Equipment Road Rollers Rock Drills Rotary Filters Saws, Sawteeth Shapers, Lathes Sheet Metal Tools Shovels, Buckets, Cranes Stationary Diesels Steel Tanks Stuffing Boxes Surveying Equipment Thermometers Trolleys Truck & Mine Scales Turbine Pumps Tubular Boilers Vacuum Pumps Valves of all kinds Vee-Belts Water, Oil & Gas Meters Welding Equipment Welding Rods Woodworking Machines Zinc Dust I 1_ The American Chamber of Commerce Jourdl January, 1941 17

mines will continue to prosper, and that 1941 will witness another increase in bullion output over the year just closed. The increase, however, will probably not be of large proportions. At the present time, most of the gold mills have been expanded to maximum economic capacity, and further large increases in milling rate, aside from Big Wedge, are not contemplated. It is of course hazardous to prophesy, and doubly hazardous to do so in the mining industry where a single round of holes may conceivably alter the entire picture, but it can be asserted that in the absence of any startling new developments, bullion production should not vary greatly from 1940. There was little prospecting going on in 1940, and while several promising new discoveries were made, these prospects are still far removed from the production stage. The foregoing is not said in any sense of discouragement. World conditions have been such as to discourage capital investment, particularly of the long term type, and successful gold mines require a lengthy period before they surmount the hard road of development and start to produce. There are vast areas of promising ground to be prospected in the Philippines, and he would be a pessimistic and ill-informed prophet who would assert that the ultimate peak of gold production had been reached. Granted that there will be no inLerruption in ocean traffic with the United States, so that essential mining and metallurgical supplies may continue to be freely imported, and that fuel oil for the power plants will still be available at a fair price, then overall mining costs should show a declining tendency as labor becomes more efficient and output per manshift increases. It is a mining truism that as a mine gets better organized, and the men learn to fit into their jobs to better advantage, costs go down. It can be definitely shown in dozens of instances that this is taking place in the Philippines, and the trend is likely to continue for some time ahead. I Profitable Year Foreseen in 1941. The Philippine gold mining industry is still young in a comparative s e n s e. It has made marvelous strides during the last eight years, and the Commonwealth now ranks sixth among countries of the world in production of gold. Indicative of the excellence of the mining and metallurgical practice at the mines is the fact that scarcely an issue of the leading trade paper in the United States devoted to the mining industry, fails to have an important article on some technical development in a Philippine gold mine that is considered to be of major professional interest. The prosperity of our gold mining industry rests not alone on rich ore, that can be mined recklessly and carelessly, but on competent and careful work and planning-plus much sweat. The basis is solid. The industry, given fair breaks, can look forward with confidence to a profitable 1941. 6. TCI :;: *~ I~:^ " *'.'9 rt C t r.. i i LIB* ~ CtU: e — ~~- ~ BALL MILLS Ball and Rod Mills built in sizes from 3 ft. to 10 ft. or more diameter and corresponding lengths. Primary, Secondary and Tertiary Grinding Mills are built for reduction to required fineness. A MILLING SERVICE THAT HAS BECOME A WORLD STANDARD THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines California gold production in 1939 was the greatest since 1856, and amounted to 1,435,264 oz., valued at over $50,000,000. During the first half of 1940 Cuba exported 62,249 metric tons of manganese ore to the United States, as compared with 47,764 tons in the comparable period of 1939, an increase of 27%c,. Due to the higher price that prevailed in 1940, the value of the production more than doubled. P. 0. Box 282 Tel. 2-32-13 0 Cebu Bacolod M i8 The American Chamber of Commerce Journal January, 194.1

The Stock Markets By Ovejero & Hall registered during the month. A slow downdrift during the first fifteen days has latterly given way to a mild recovery. From their post-election rally highs of 138.12 as of close on November 9th and 30.29 on November 14th the Dow Jones Industrial and Rail Averages appear to have made a bottom on November 27th and December 6th respectively at 129.78 and 27.57. According to Dow Theory require[Continued on page 22] Manila, December 16th New York, December 15th Quiet conditions have prevailed throughout the past month despite, on the whole, b4tter than anticipated final quarter dividend declarations, plus generally satisfactory news from mining centers. The narrowness of fluctuations is reflected by the MSE averages. At the close of business today, the Index stands at 53.03 off.02 as compared with a month ago after recording a high of 54.21 on November 27th. Actually, when allowance is made for several stocks having gone ex-dividend during the past few days, some net improvement in values has been registered during the month under review. Total number of shares traded cetween November 16th and December 14th amounted to 31,369,371 valued at P1,572,426.00 (includes a sale of Philippine Government Gold Bonds valued at P654,400.00) as compared with 26,042,513 valued at P1,228,407.00 ftor the previous month. The short position is 241,000 shares valued at P9,880.00. The lack of response to more favorable war developments and the recent moderation of the Japanese attitude is disappointing, but speculative apathy has not been confined to this market alone, as a similar condition has existed in U. S. Stock and Commodity Markets. The tendency towards extreme caution, which is currently noticeable, is accentuated by the restricted credit situation in the local money market. The latter, however, should gradually improve as new crop sugar moves during the coming quarter. On the other side of the picture, however, is the fact that equities in soundly managed mining companies are available at prices which yield 30%Go and, in some cases more, on the basis of estimated 1941 dividend payments. When these conditions prevail, it is certain that price levels discount just about everything. Turning to individual issues, leading Base Metal shares such as Acoje and Lepanto have registered satisfactory price increases during the month. In the Gold Mining Group, Masbate, Mindanao Mother Lode, Itogon and Paracale Gumaus have proved tne best market performers. * * * The market action has been lethargic since our last review without a single million-share session being U= With th ele ad vantgem 1. Modern Design -Type S engines have such modern features as full enclosure of the engine, cylinder liners, and full force-feed lubrication. They follow the modern trend to higher speeds and lighter weight but without sacrificing reliability. 2. Lower Fuel Consumption -As low as that of the largest slow-speed engines and about 25% lower than that of high-speed automotive type engines. 3. Lower Installation Costs-The Type S weighs less and requires less space and smaller foundations than slow-speed engines. Installation and transportation costs are therefore much lower. 4. More Efficient Power Transmission - The higher speed makes possible less costly and more efficient generators. Better pulley and gear ratios are possible for most installations. 5. Inexpensive to Maintain -The unit is built for heavy duty service. Records prove its low maintenance expense. 6. A Thoroughly Proved Engine -More than 140 I-R engines of the same bore, stroke and speed are in successful service. Sonie of these have been in service for 12 years. SEND FOR BULLETIN 10,010 The American Chamber of Commerce Journal January, 1941 19

Producing Mines Statistics in Graphic Form ------- By Ovejero & HallRecords shown on the accompanying charts are for 1939, completed and for the first I I months of 1940. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. IXL MINING CO. NORTH CAMARINES BAGUIO GOLD BIG WEDGE SUYOC COCO GROVE DEMONSTRATION 20 The American Chamber of Commerce Journal January, 1941

ITOGON MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAUS IL THE MINING INDUSTRY-TABULATED STATISTICS Courtesy —Charmber of Mines of the Philippines OCTOBER 1940 NOVEMBER 1940 TOTAL PRODUCTION CAPITAL DIVIDEND Tonnage Value Average Tonnage Value Average To Date 11 Mos. '39 Authorized Paid Up 1940 1989 Antamok Goldfields 14,372.23 P 217,155.75 P15.11 16,840.06 P 186,117.66 P11.05 P2,403,3!03.32 P2,942,416.76 P3.000,000 r2,750,000 0.01 0.083 Antipolo 307 12,745.62 41.52 - 30,905.62 - - Baguio Gold 12,350 194,686.68 15.76 11,865 195,483.38 16.48 2,030,470.04 1,679,792.96 2,000,000 1,299,00 0.03 0.02 Balatoc 62,882 1,152,085.22 18.32 60,993 1,099,873.08 18.03 12,316,736.44 11,554,380.03 6,000,000 6,000,000 0.70 0.80 Batong.Buhay 3,391 33,936.97 10.01 2,725.5 75,144.77 27.57 - - Benguet Consolidated 39,102 928,025.64 23.25 39,055 913,568.68 23.39 10,027,840.82 9,450,021.99 12,000,000 12,000,000 0.60 0.85 Benguet Goldfields 3,086 56,211.81 18.22 2,551 41,290.00 16.19 584,448.64 200,000 200,000 - - Big Wedge 5,714 189,272.22 33.12 6,260 180,622.34 28.85 1,886,709.04 1,733,790.30 2,000,000 777.612.10 0.04 0.04 Cal Horr 7,225 132,887.72 18.39 6,130 117,443.10 19.16 1,295,043.63 1,310,462.78 WHOLLY OWNED BY B.C.M. CO. Capsay 3,989 74,025.78 18.56 4,223 55,976.89 13.26 998,146.81 1,091,857.43 1,000,000 1,000,000 -_ - Crown Mines 981 12,676.47 12.92 1,189 21,611.00 18.18 120,588.10 1,000,000 636,000 - Davao Gold -.- - 17,015.00 -- Demonstration 2,953 33,107.50 11.21 3,540 45,609.00 12.88 456,029.01 1,142,231.15 1,000,000 1,000,000 - East Mindanao 3,754 62,598.90 16.68 3,758 62,400.00 —.- 704.209.85 626,007.01 1,000,000 920.000 -.01 Gold Creek 526 12,023.64 20.87 616 12,409.86 20.15 155,122.10 108,698.19 1,000,000 700,000 - Ipo Gold 6.085 43,023.44 7.07 5,570 40,258.58 7.25 665.494.02 1,174,864.02 1.000.000 819,693.70 - 0.025 Itogon 27,212 505,321.75 18.57 27,459 470,576.81 17.14 4,916,768.99 4.196.847.67 2,500,000 2,500.000 0.04 0.04 I. X. L. 12,445 268,171.10 21.55 12,524 261,655.98 20.89 2,829,650.60 2,567,994.62 1,500,000 1,500,000 0 08 0.09 Layog ---- 952 8,306.78 8.73 -- -_, Macawiwill 3,675.4 19,864.07 5.40 3,273 20,710.88 6.33 329,145.69 526,689.59 1,600,000 324,938.06 - - Mapaso 1,926 12,346.00 6.41 1,947 9.087.00 4.67 74 590.26 —. — 1,500,000 429.200 ~ — Masbate Consolidated 89,577 548,158.06 6.12 89,831 582,359.52 6.48 5,715,9:5.28 4,453,819.44 6.000,000 5,000,000 0.02 Mayon Mining 1,934 41,509.33 21.46 1,560 27,294.98 17.48 327.059.18 -- - Mindanao Mother Lode 6,755 205,003.54 30.35 6,150 209,898.22 34.13 1.958.098 64 1,281,108.54 2,000.000 1,130,000 0.01 - Mineral Resources 3,691 46,893.41 12.70 3,284 36,535.31 11.13 375,929.85 108,241.06 2,000,000 1,160,149 -- North Camarines 3,523 70,670.39 20.06 3,908 94,895.21 24.28 1,433,2=0.18 1,687,076.95 1.000.000 1,000,000 -. Northern Mining ----- 2,432 53,291.54 21.91 -498,928.82 - -- _ Paracale Gold 280 4,974.31 17.79 310 4.227.03 13.64 4 28.376.37 - -.Paracale Gumaus 5,952.6 196,837.62 33.07 6,931 200,562.23 28.94 1,703,124.50 1,017,399.50 500,000 500.000 0.045 0.00m Paracale Mining - -- - ----- -- - - Paracale National 964 31,020.99 32.18 847 20.625.68 24.35 316.895.88 144,818.56 1.000.000 848,600 - - San Mnuricio 16.07g 480.205.09 29.87 16.057 480.749.95 29.94 5.517.418.61 5.949.021.16 2.000.000 2.000.000 0.07 0.135 Santa Rosa T4.390 92.9A.24 18 89 4.687 91.116.41 19.44 82.556.95 886,193.25 1,500,000 1,500.000 - - Surigap Consolidated 10,344 232.13.7.00 22.44 9.754 215.q65.00 22.14 1,968,957.08 1,159,625.49 1,200,000 1,022.975 0.04 0.01 SuyoC Consolidated 6.943 175.529.73 25.28 7.404 184.711.49 24.95 1.815.157.84 1.623.471.15 1.250.000 1.250.000 - 0.01 Treasure Island ~ -- 5.-839 160.24.22 27.44 5.,15 163,944.30 28.19 778,230.98 605,314.42 - - 1" UnIted Paracale 11.211 283,971.40 25.32 _ 11.288 286.042 62 25 34 2.977,292.43 2,661.427.10 1,300,000 1.300.000.02 0.04. PLACER Coco Grove 333,090 305.157.25 0.92 319.720 125,203.54 0.39 1,512.964.95 1,932,354.50 1,500,000 1.500.00.015 0.02 Mindanao Mining 49,700 29,648.00 0.60 18,500 6,804.00 0.87 68,924.82 122,956.00 - -- North Mindanao -- 24,645 13.030.10 0.53 -103,997.00 --, - TambIs 24,112 10.478.00 0.48 19.927 10.842.00 0.54 106.080.00 -- -.BASE METAL Lepanto 12,820 296,435.08 23.12 12.8.10 261,517.00 20 85 2,522.080.21 1,248.776.00 1.7.0 0nn 1.050.000 0.035 0005 Ilxbar 2,770 92.157.90 - 3,560.6 116.482.41 32.71 680.58..97 687,406 00 0.04 0.04 Mandaon Operation 257 6.641.90 - 318.98 8,054.25 25.25 14,696.15 -- --- - Consolidated Mines - -- ~- 11.000 12.000.000 1.n- - The American Chambeer of Commerce Journal.anuanry1, 194f 21

ments for a secondary reaction, the Industrial Average close on November 27th falls.42 points short of a minimum 1/3 retracement of the rise since June, while the Rail Average close on December 6th exactly registers a 1/3 retracement. It is possible that the period of time consumed by the correction is also deficient. However, in considering such secondary movements, students of the Dow Theory are constantly reminded that reaction requirements should not be strapped into mathematical straitjackets. There is nothing hard and fast in the Theory as will be found in the writings of its most famous proponent. He states "it is the usual The Stock Markets Continued from page 19 experience for a reaction to terminate when 1/3 to 2/3 of the entire advance has been retraced". There have been several occasions in the past when such movements have varied from the conventional requirements either as to time consumed or amount retraced. While we realize that inferences to be derived from a study of the price pattern at the present time are open to debate, in our opinion, a rise from current levels carrying both averages through their November highs, accompanied by heavier activity than registered around these highs, would constitute a Bull Market signal, consequently classifying the movement since June as the first leg of a new Bull Market. As usual, at this time of year, Tax selling is given considerable publicity, particularly in the kind of quiet trading sessions recently witnessed. Possibly of greater importance, however, as a market factor is Tax uncertainty which continues to cause irregular price movements as investors seek to switch tax vulnerable equities into better issues. These factors have so far neutralized market optimism over British and Greek successes at the expense of Italy in the Mediterranean theater of hostilities. While the market's failure to respond to the sweeping nature of these successes is a signal for uneasiness in some quarters, particularly in view of the pessimistic forecasts so prevalent a short time ago, yet there has been nothing so far in the day price movement and volume characteristics to indicate any major decline in the offing. We, therefore, terminate this review with the observation that markets which can not decline can usually advance. - PROTECT THE ENGINES AGAINST WEAR AND BREAKDOWNS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS A well recognized principle of sampling is that the finer the size of the mineral and the more even the distribution of the ore, the smaller may be the sample and the greater the space allowed between samples. Minerals comprised.over 80% of Bolivia's total exports in 1939, of which tin, tungsten, and antimony were the most important. Tin production is in the hands of a few large companies which have been hampered in expanding output through heavy taxation and loss of man power since the Chaco conflict. I ALWAYS CHOOSE DE. LAVAL PURIFIERS THEY GIVE THE HIGHEST DEGREE OF SEPAR ATING EFFICIENCY - Sole Agents KOPPEL (PHI.IPPINES) INCORPORATEDb, ILO IL... MANILA CEBU BAGUIO ENGINEERS HOLD DINNER DANCE Paguio members of the American Institute of Mining Engineers held a very successful dinner dance at the Baguio Country Club e-rly in December. Over a hundred guests were present. Richard, L. Lile, chairman of the Baguio section presided informally, and was ably assisted by J. S. Baker, secretary, in promoting the success of the meeting. W.' t. Boericke spoke briefly and expressed his grati'fica-. tion on representing the Philippine section, of the AIME at the Annual Meeting'in' New York on February 15, 1941. -- 7;r 22 The American Chiamiber df Codmerie Journal JA1ftary ' 1941

Wi. De Carbonelt has resigTedbtls ^ tion as general superintendent of theXMaJ yon Mining Company in Paracale and has returned to Manila. * *$ $ L. L. Kirkley, in charge of the Caprey mill in Masbate, has been in Manila, J. W. Brody, who has lately returned htroM the United States, has returned to the same mine to resume his old position. * * * W. F. Boericke, chief of the valuation' division of the Bureau of Mines, has left' for the United States for a vacation of a few months, but plans to return in the spring to resume his work with the Bureau. l'e8U.~~~~~~~~~ l ( J. Chariot of the Virac property in Buguio has also left for America. * * * Ben Meek of the Bureau of Mines made a professional trip to Paracale in connection with the geological study of that area. * * * Alec Gregg is in Surigao where he is acting as geologist for two of the major producing companies there. * * * M. F. Atacador of the North Mindanao Mining Company was here on business for his company. * * * J. Jurika, field representative of the Luzon Stevedoring Company, has been in Manila. * * * L. H. Hinckley, general superintendent of the Tuba Mine in Paracale, was in Manila during the holiday season. * * * John O'Day, who has been with the Paracale Gumaus mine for the past year, has left that company and is now in Manila. * * * Clarence Weekley, chief metallurgist of Marsman & Company, has returned by Clipper from a vacation in the United States. * * * G. C. Worthington, of the Benguet Consolidated Mining Company, made a trip to Surigao to visit the Mapaso mine. * * * Douglas McKay, general superintendent of Mindanao Mother Lode Mining Company, spent a few days in Manila on busin ess. * * * A. C. Melting, general superintendent of Benguet Exploration Company in Paracale, has returned to the United States with Mrs. Melting. * * * Stewart Norton, manager of the Philippine Smelter of Marsman and Company in Paracale, has been in Manila on company business. * * * G. T. Gerringer, who has been at the same mine in a consulting capacity, has gone to B3aguio where he will remain over the holi(lays until he goes to Surigao to supervise construction at the San Ysidoro property. * * * E. R. Vera, of the Real Copper Mines in Iloilo, flew to Manila recently to make an examination of manganes e properties at Tarlac. * * * - I ---?Iew economyin DIRT-MOVING PERFORMANCE Perfect Control-No "TEETERING" a Smooth Grade International TD-18 TracTracTor with Bucyrus-Erie Bullgrader Fully utilizing the speed, economy, and mobility of an International TracTracTor, the modern Bucyrus-Er-ie Bullgrader and Bulldozer are the practical answers to the need for high-speed, low-cost dirt-moving. Both these units give the operator fast, accurate hydraulic control of blade action; independent track oscillation in roughest going; full use of. tractor power; and unobstructed visibility of the blade and the work. The Bullgrader doubles its usefulness through the angling and tilting feature of the blade-operating either as a bulldozer or, with 'the blade angled right or left for side-casting, as a grader, allowing the machines to move ahead continuously and leave a smooth, accurate grade as it rolls the material off to one side in.a windrow. The strength, balanced weight, easy handling, and big output of both Bullgrader and Bulldozer make them most desirable for a wide worl range of general utility work, clean up, grading, material handling maintenance, and light construction. INTERNATIONAL HARVESTER COMPANY OF PHILIPPINES Cebu-Iloilo-Bacolod - MANILA - Davao-Baguio ---Legaspi;,....................... |.. The American Chamber of Commerce Journal,Januury, 1941 23 i

1940 Upped Philippine Radio 200 Per Cent Some 20,000 radio sets were registered with the Internal Revenue bureau in 1940, about double the number registered during 1939. The trade expects fully 25,000 registrations during 1941, and we hazard a guess that this will prove conservative if terms at which sets may be bought are well arranged-notwithstanding the hard times that will probably prevail. It is true that 1940 upped radio registrations about 200%, over 1939, and it is true that for the Philippines this is a remarkable record for such a year. It is also true that 72,000 sets are registered all told, and that bootleg sets probably run this up to 100,000. But there are 3 million families in the Philippines, 25,000 sets more will hardly dent the potential demand among so many homes. The field is now covered by 5 stations, 4 in Manila: KZRH, KZRM, KZRF, KZIB. One is in Cebu, KZRC. Don't forget this Cebu station, it clicked from the start, more than pays its way, and broadcasts one of the most popular programs of all. This is its Amateur Hour Wednesday evenings 9 to 9:45 o'clock, when it is usual for Cebu's Independence Square, where the program goes on outdoors, to be crowded with 20,000 listener-spectators.... and it's just a plain amateur program, well supervised. Among Cebu's million inhabitants, there is talent. However, news is what boomed Philippine radio in 1940, news of war, news that war may involve America, also the Philippines, news that war may invade England, news of battles, invasion, bombings, repulses, defeats, victories-the whole wide gamut of modern mechanized war fought for the same ends that made Hannibal cross the Alps, or Ghengis Kahn overrun Europe to the steppes of Hungary. This time the warlords say they will not be turned aside from their purpose to defeat democracy and dominate Europe in the West, and in the East, old China. They say their new mechanisms are invincible. The Philippines, democratic, wait at the radio day by day to see how all this is turning out in fact. The popular news broadcaster of the year is Don Bell, KZRH, for General Electric, 12:45 to 1 p. m. daily except Sunday. Appreciation comes from as far as Africa and America. Mighty popular too is Listerine's Amateur Hour over KZRM, Thursday evenings from 9 to 9:45. Wally King is the popular announcer. Vicente Ocampo is the comic, the old reliable clown out of Manila vaudeville. Tabacalera's World News over this station of evenings except Saturday is handled by Ignacio Javier, this being the mike name of Leon Ma. Guerrero, brilliant young newsman who in 1940 sought other pastures. KZRF uses Andoy Balunbalunan. His San Miguel Brewery hour Friday evenings, 7 to 8, University of the Air, gets its laughs out of English-Tagalog souffles. Half his program for Hermoso Drug is Tagalog drama, the whole Tagalog world listens in. KZRH is a powerful station, in that virtue tops in the Philippines, managed by Bert Silen. Mr. Silen says that the wide band spread on receiving sets enabling listeners to tune in shortwave as easily as longwave probably had a lot to do with upping 1940 sales. It is his estimate of 25,000 for 1941 that we have quoted. The station conducts an international broadcast with programs popularizing the Philippines in the United States; in the 5 months this service has been operating it is credited with much good. [Continued on page 38] Radio Star Miss Didna Toy KZRH Studio, Diana Toy singing during Lux Theater of the Air program. See text. 24 The American Chamber of Commerce Journal January, 1941

saes I '' Single Copia: I~Z ~ United /b3/,;'5;~' '/, '~ /~ / //// centavos 'tates: per yul ~ ~oreign / " / / / seription. /' / WALTER ROBB c U. S. Editor and ency, per L )scripton Manager January, 1941 Vol. XXI, No. 1 Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things Tendency of times. Betting at the races in Manila tends more and more to the small money, the minimum half-peso bet is the popular one. The San Lazaro race management, sensing this, has bought new equipment to convert its totalizator from the 5-peso ticket to the half-peso ticket and so simplify the check-up. Santa Ana has not declared itself; in its members' stand, minimum bets are still 5 pesos, but San Lazaro is extending the half-peso bet to all its stands, admission charges at the gate remaining unchanged: 30 centavos, 1 peso, and 2-1/2 pesos. Racing crowds are much larger than the betting. This has always been so. When 25,000 fans are at a track, it is a big race that brings out P10,000, not a half-peso per capita. * * * Elks throughout America and in the Philippines are taking the same patriotic interest in today's world war and America's preparations for it that they did in World War I. The local lodge, 761, has named Colonel H. Gilhauser chairman of a committee with Attorney John R. McFie, J. M. Shurdut, C. J. Ritenour, and J. P. Liggett members of it, to carry into effect the wishes of the Elks' Grand Exalted Ruler Joseph H. Buch and Exalted Ruler Wm. H. Rennolds. The objective is of course, the fullest cooperation with the administration at Washington in all its plans both civil and military looking to the promotion of the country's defense and its readiness to subdue its enemies in the field if the issue comes to actual battle. For the present, Manila Elks suggest that all Americans in the Philippines display the flag and make folk conscious of the utter protection this flag extends over the Philippines.:;: * * Fannie, chief telephone operator at the Manila Hotel more than 20 years, and prior to that, at the old public-works bureau in the walled city, was bowled over by a sudden heart attack Monday afternoon, December 16, and rushed to St. Paul's where she died. With us she had long rated as Manila's best telephoneexchange operator; in the 22 years that she had been putting through our calls, her pleasant efficiency never flagged once; her voice, always the same lilt to it, retained its youthful timbre. Ours too was among the last calls she handled. Her part in this call went like this: "Mr. White? -just a moment... Mr. White is not in his room, shall I have him paged?... Sorry, Mr. White is not in the hotel, will you leave a message-shall I have him call you?" Fannie's humble career illustrated the truth that if a thing is worth doing, it is worth doing well; adventures with Fannie over the telephone were among the favorable points of the hotel's service that patrons and their friends never forgot. Then, with a grown boy and a grown daugher, educated, fitted for tackling life on their own, Fannie put through her own call to the Main Office, where her interview with eternity is bound to be entirely satisfactory. Her full name, we learned, was Mrs. Epifania- Umali. Her grave is in the Cementerio del Norte. * * * An industry that has been going quietly ahead in Mindanao is Del Monte pineapples at Bugo under Neill Crawford's management. The 1. I The A nerican Chamber of Commerce Journal J'anuarv, 1941 25

canned pines are loaded for export to the United States right at the company's pier, now reported to handle a larger value of exports than any other single pier in the Philippines. (Loading at Manila is mainly from lighters in the roadstead). Bugo pineapples flourish, there's no doubt of it. Ten months' exports in 1939 were 14,189,664 kilograms valued at P3,415,809; and 10 months' exports in 1940 were 18,774,482 kilograms valued at P4,998,211. (The Commission of the Census and Statistics still lacks the data for November-December 1940, so the comparison has to be limited at the moment to 10-month periods, January-October). From 1939 to 1940, January-October, quantity upped more than 4-1/2 million kilograms, value upped more than 1-1/2 million pesos. The company is the Philippine Packing Corporation. The fact that the pines bear the Del Monte brand demonstrates their prime quality. This shows how the modern agricultural corporation can benefit the Philippines. It is the corporation that can take the setbacks of pioneering; for the whole story of this venture is not all beer and skittles, it had its years of lentils and soup and now stands out a striking success because it had the capital as a corporation to bridge past its early difficulties and necessary experiments. Companies equally persistent could add materially, perhaps hundreds of millions of pesos, to Philippine agricultural and industrial income-under similar encouragements. So endeth the first lesson. * * * Nowz a Protection. Attorney Filemon Sotto invites our attention to this heading of a recent editorial of his in his paper, La Revolucion, under which he writes in part: "In the days of American sovereignty in the Philippines when everything was nebulous and unsure, Filipinos did not yet know the real intention of the United States toward them, and strong prejudice existed among us against American capital coming here, and the following capitulation of opinion, almost inspired, was uttered in the Philippine Assembly in open debate on the Payne Bill by Assemblyman Dominador Gomez: 'Every dollar of American capital-invested in the Philippines is another nail in the coffin of our independence!' The hall resounded with spontaneous applause not merely from the members but from, the public that then habitually filled the galleries. "But 33 years have since passed, and now from the great school of Dr. Time we have learned this truth, that thanks to the presence of Americans in the Philippines and to their substantial investments in agriculture, industry, and commerce, we can be sure that the American army, the navy, and the airforce of the United States-a combination of colossal power-will help us defend our territory against anybody who dares to come to attack or invade us.... In reality, from the passage of the Jones Law of 1916, the future of the Philippines has been clearly defined, and with approval of the Tydings-McDuffie Act our independence has become assured, (so) we must now recognize the dollar as a force for oun protection and not a menace to our liberty. What lessons Dr. Time teaches!" * * * Colin Black is back in town. He and Carson Taylor are sharing bachelors' apartments at the Admiral on Dewey boulevard, and he has his offices on the second floor of the Marsman building on the waterfront of the Port area: Furness (Far East) Ltd., for whom he handles Prince Line ships. This is a move of the line's general Far Eastern representation from Hongkong to Manila in the interest of a new schedule for the ships that may not ordinarily include Hongkong. On the new schedule, Prince Line ships out from the Atlantic seaboard will begin loading in the Dutch East Indies and the Straits, Singapore; they will complete loading in the Philippines, and sail direct to Los Angeles, thence to New York, Boston, and Halifax, sailing time from Manila to New York being set at 36 days. Furness (Far East) Ltd. are a subsidiary of Furness, Withy & Co., Ltd., of London and New York, among the largest owners of ships. They have been in the Far East about 50 years. Their Prince Line ships make the Far East, South America, South Africa, and the Mediterranean. For the duration, all British ships are under government say-so; the government lets companies keep back earnings sufficient to offset expenses, and takes most of the balance for the running of the war. As far as we discern, Britishers take this as quite as it should be and play ball accordingly. Agent Black will be remembered here as an assistant with W. F. Stevenson & Co. at Manila from 1912 to 1915. War duty, with the British army, took him away for 4 years, 1915 to 1919, when he came back to Manila and stayed until 1925, and then went to Hongkong as Furness 71 THOSE IN THE KNOW VV ASK FOR OLD CROW Bottled in Bond BOURBON or RYE Distributed by MBARSMAN TRADING CORPORATION -975. Boston, Port Area MANILA Tel. 2-48-11 I 26 The American Chamber of Commerce Journal January, 1941

(Far East) Ltd.'s general Far Eastern agent, the same capacity in which he now returns to the Philippines. You may not understand why such companies as Furness, Holt and others operate under so many line names. It's because they're British and under the United Kingdom conference. The conference designates the United Kingdom ports at which ships of any line will legally call, or whence they will sail. When your company expands and absorbs a line, it keeps the line name alive in order to call at the line's designated ports. Thus Holt's Blue Funnel line originally had no London entry; to reach London, it bought the Glen line that had rights to dock at London. It's an old British custom, moldy with business conservatism and city privileges. * * * Seven years ago, we wrote about Judge John W. Haussermann's banking views and his interest in the New Richmond (Ohio) National Bank, the bank of his home town. It was at the time that Roosevelt closed down all banks. Now there is a little more to tell. Most folk in the Philippines (and elsewhere) know Judge Haussermann in his chief role, as a mining man and the president of the twin wonders of the gold-lined Baguio mountains, Benguet Consolidated and Balatoc, on Antamok creek, from which properties December dividends of P3,600,000 were distributed. In mining, he says, pay all you can. But in banking, he says, pay a top of 6% and apply everything over that to making your bank stronger. His little New Richmond National, of which he became the president in 1933, was, he is proud to say, in the first group of banks the Roosevelt administration allowed to reopen without restriction; thus little New Richmond went triumphantly waving its colors in step with many of the richest. and biggest banks in the -hole United States. Right now, Judge Haussermann says, it could pay every deposit in full and have about $50,000 left in the till to liquidate the stock. The capital is $50,000; surplus is $50,000 more; undivided profits are another $50,000, while $16,095.60 is a special reserve for unforeseen contingencies. Deposits are more than $1,000,000; against them the bank owns more than their total value in girt-edged securities such as Federal bonds, securities as good as cash. Far back when Judge Haussermann was merely a New Richmond director, the capital was only $25Q,0Q: and.he.,ntticed rin the,r ports.'.that. sometimes a good deal of deposit money was used in loans that in a pinch would not be liquid. He thought such risks should be limited to shareholders, so he went to Washington to get the comptroller's help in persuading his board colleagues to double the bank's capital. The comptroller took a look at the bank's report, and wouldn't help at all; he said the bank was absolutely sound, and ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA AL1HAMBRA I I I - -- - ~ - - 2 Great Whiskis FINDLATE1'S WA 03 "SPECIAL" SCOTCH 7 years old Taste "LIQUEUR" SCOTCH scothWhiosY r04 ~t.h yaqw 4&%* *noww~r owd ir and Compare DISTRIBUTORS 12 years old Ql = ~ ~:..... Ntmftof -fo I~ 1. l ar wosh Cv ur mK mo l f- uk m fk r m qpMa drlh I"Ik ~u. ikIfla 1 MA1RSMAN T[tkI IN C[PItTltT.l ION^ 975 Boston, Port Area -:- M.NILA -:- Tel. 2-48-11 The American Chamber of Commerce Journal Jamuary, 1941 27

If all banks were like it he'd be out of a job-examinations would be superfluous. Nevertheless, when the 1933 crisis came, Haussermann's view prevailed and the bank was authorized to double its capital'. It was then, too, that dividends were pegged at a top of 6 %, something that Haussermann had contended for for years. He is now a director in the First National Bank of Cincinnati, one of the big banks of America. At directors' meetings, in an atmosphere of complacency over the bank's solvent prosperity, he likes to take the wind out of his colleagues' sails by passing round the New Richmond National's statement and asking them to match that! Big as the Cincinnati bank is, comparatively, it can't do it. * * * The death of Dr. Lingoh Wang was to us a great personal loss. As this is written, December 30, no light is thrown on the manner in which it may have occurred. Dr. Wang, whose long career in the Chinese diplomatic service was partly spent in Manila as consul general, was a passenger from Hongkong to Manila on the ss President Pierce that made port here Saturday afternoon, December 28. This was in accordance with a letter from him earlier in the month, assuring us that he would be in Manila for New Year. Friday "THE WORLD'S LEADING PADLOCK" STANDARDIZED EQUIPMENT FOR THOUSANDS OF LEADING INDUSTRIES THROUGHOUT THE WORLD GUARANTEED SECURITY u evening aboardship, it is reported that he had dressed for dinner as usual, and during dinner had been in his usual good spirits, afterward attending the movies in the salon. It was also reported that he was seen by other cabin passengers about dawn next day, as the ship approached the bay, and nothing more appears. We doubt that he met with foul play, and doubt still more strongly that he took his own life; we attribute his death to some accident, the missing of his footing on a ladder, or some lurch of the ship that caught him off balance. No brooding was ever noticed in him. He had made business investments in Manila; what he had elsewhere we don't know, but here he was a shareholder in the new building rising on the Monte de Piedad site opposite Santa Cruz Church, and report is that his financial situation was not pressing. He was no man to have had implacable enemies, such as would have planned and carried through his taking off in this way; no one ever heard of his having enemies at all. On the contrary, he cultivated friendships, on which he set a proper value. The last of his little acts of friendship that concerned us was a letter of introduction he gave Mr. and Mrs. L. P. Kwok, of China's big Wing On company (department stores) when they came to Manila for a vacation. In response, we had been able to put the Kwoks in the way of new friendships here. Then his other letter came, telling of the pleasant weeks the Kwoks had passed here, and adding his purpose to be here at New Year. Dr. Lingoh Wang was an allweather friend whom we will never forget. He had been consul general here and at Batavia, and had reached ministerial rank, at Madrid, before giving up the service for business. * * * We live on calle V. Mapa in Santa Mesa, a street well bordered with yellow acacias that generally look very attractive. But not at this season, when measuring worms by myriads attack them and devour all their foliage, and drop off to the sidewalks and crawl about voraciously, making of themselves an unmitigated nuisance. The trees' name in science is Peltothorum inerme, and the worm is the Pericyma cruegeri. The worm doesn't bother the more common aca cia much, but goes after fire trees, as it does the yellow acacia, with a vengeance. George Cheek's department over at City Hall has been out spraying them this season, gracias a Dios, so if they infest your neighborhood too you can call up Mr. Cheek for service. This is one of the MASTER PADLOCKS are GUARANTEED SECURITY TRANS-PACIFIC TRADING COMPANY, INC. EXCLUSIVE SALES AGENTS AND DISTRIBUTORS Telephone [phone] Cabildo, Intramuros MANILA P. 0. Box 497 28 The American Chamber of Commerce Journal January, 1941

things that were done in early Manila that ought to have been done more wisely. * * * An interesting fact about the Quezon Census is that the questionnaire forms in a strip of paper a meter wide would reach from Manila to Hongkong, 650 miles. Yay Panlilio of the Herald dug that one up, in her feature story on the census. There was a census in 1903, to lay foundations for the popular assembly of 1907, and another in 1918 for a less particular purpose; the first was far the better of the two, but neither compares in any way with the exact Quezon Census of 1939 supervised by the Washington census expert, Ray Hurley. This one turns up 3 million. families, 1,500,000 farms, 155,000 business establishments, 130,000 manufactories small and large, 90,000 fishing enterprises, 4,000 forestry projects, 3,000 transportation entities, 10,000 practitioners of the professions, 200 mines, 300 electric light & power enterprises. The enumeration was effected in January 1939 after some 2 years had been spent in selecting and educating a personnel. Enumerators were 25,000. The job was done accurately in record time. By the time it was all over, everybody in the Philippines became a record dotted in holes on a card 3 inches by 7 inches in the Bureau of the Census & Statistics, and on these began to run the remarkable machines that effect the tabulations. Here was more intensive training of a staff of willing and promising hands, but also a constant weeding and thinning out of these employees as the mechanics of the task pro gressed. The census involved 18 million record cards, their tell-tale holes more than a billion. Running them through a machine devised by an old census man, Herman Hollerith. makes them evacuate their secrets in the right places for the right tabulations. It's all one of those highly esoteric office processes that only the digital 2-plus-2 mind gets real hold of. Turn on the juice! Wham! Flutter, sputter, whirr, whiz! Through go the cards, and out come a whole town's inhabitants in formal parade of their sex, age, civil status, literacy, years in school, linguistic ability, race, citizenship, occupation, the number of persons in their respective families and the number of weekS, they were gainfully employed in 1938! With all that, you just have a good start. More follows, other and still other mechanical prestidigitations with the gossiping cards. Now It Can Be Told, and will be told in some 6 stout volumes, the most comprehensive classified knowledge of the Philippines ever assembled in print-a scholar's research material for a score of years to come, and a bete noire for all guessers. The mysterious machines effecting untold economies, the cost was 3 million pesos, less than 20 centavos per capita, and the gratifying culmination has been centralization of all fact-finding activities of the Commonwealth in the new bureau, which Hurley stays on to direct, with consent of the Census office at Washington, for 6 months. Our readers already benefit from the new accuracy and promptness of the periodical statistical reports. All this is one of the most outstanding and commendable achievements of President Quezon's administration. * * * The sign Bat'a Shoes still marks the shoestore in the Arias building on Plaza Goiti, so we stepped in to investigate whether Bat'a shoes were still coming from Czechoslovakia. No, they don't; and it seems they never did, but from a Bat'a subsidiary at Singapore. Now they don't come at all, new stock of other makes comes from America. J. F. Hrdina, a Czech, is the proprietor. He came here 20 months ago in the employ of the Singapore company, and when the company decided to liquidate its Tw, L I _ Also sold in 10-lb. BAGS CT1GAA Produced by VICTORIAS MILLING COMPANY, INC operating raw sugar factory and refinery at VICTORIAS, OCCIDENTAL NEGROS Its the startling cry that everybody knows and fears. The "Imp of Fire" has been at it again, and now many a home will become a heap of ashes and its occupants driven into the streets. Property owners do not let the Imp of Fire impoverish you! You can outwit -him by insuring your home or other insurable possessions with The Philippine Guaranty Co., Inc. Careful analysis and surveys of your property are rendered without obligation on your part. Call or write us about your needs today. PHILIPPINE GGUARRNTY.C!L INSULAR LIFE BLD6. TEL. 2-24- S P.O.BOX 128 MANILA, PHILIPPINES...........sa~..f ii~eaaasSS |^^^BEC^5Z~~~~tm]!_ ' MI_ ' il^.. W..;^^^^^. The American Chamber of Commerce Journal *Januar, 194 1 29

Philippine business he bought the place. -He had formerly worked at Singapore, also at Calcutta, home of the largest Bat'a factory in the Far East, also a kind of subsidiary of the original company at Zlin, some of the directors being Zlin directors too. Proprietor Hrdina keeps the' name Bat'a Shoes because it is locally pronounced Bata, the Tagalog for child, and being well established, signifies to the public an emporium of children's shoes. The Czech pronunciation is Batya, which even Mr. JIrdina (Hur-deen-ya) has abandoned in favor of Bata for obvious business reasons. He' patronizes various American factories and also employs local shoemakers in making shoes to his designs and patterns. He doesn't know yet whether he made a mistake or not in tackling ownership of this store, but he does know he is not going back to Czechoslovakia until the country is again free. He subcribes to the American, a Czechoslovakian daily in Chicago, where the community numbers about 300,000. In 1903, the august Philippine Commission, ever intent on aping the British in governing subject peoples, disposed of the Mohammedan problem in the southern Philippines by erecting Mindanao and Sulu into what it styled a department. Leonard Wood, Tasker H. Bliss, and John J. "Black Jack" Pershing were successively the governors of this department, General Wood first. Much j:1 For Positive Pro. tection Against Dampness in Sugar- Bodegas Use SISALKRAIFT "THE BUILDING PAPER OF A THOUSAVND USES" IsALKRAFT PRLINEM IN C* LI NG Write or call on SUGAR RWA.UCOTC AN HAIRRlSON CO. 119 13th St. "BETTER BUILDING SUPPLIES" Tel. 2-24 Port Area M' ANIi I beloved by veterans of his so-called Moro campaigns, General Wood invited these veterans to go to Mindanao and take up plantations on the alluvial plains bordering Davao gulf. A hundred or so veterans did so, and some have done comparatively well by themselves, especially if they might now sell their places, but the early struggles with the wilderness were harsh and a good many of the pioneers gave up-some to death, some to chance buyers. Few of these men had money, any money at all, beyond small pensions, and that a few made good, kept their health, and are now well-to-do is one of the incredible wonders of nature. A combination worked more than once was for a squad of Manila policemen (they had all been taken from the Army, by selection) to decide on who should be it in Davao and who should stay on the force; the victim who volunteered went to Davao, his comrades chipped in pittances monthly to keep him making clearings and planting Manila hemp and coconuts. He got shares in a stock company for his work, his chip-in comrades got shares for their payments into the plantation fund. There are as many novels waiting to be written in Davao, tieing up with the weird lives of these buckaroos, as anyone cares to undertake. The material, including the experiences of some half-dozen American women widowed while still young and green to the exactions of the problem, is inexhaustible by any reckoning. The widows found that they could carry on, and so they have. But how they have done so will at one moment well the eye with tears of actual pain, and at another with overbowling laughter. All the men are picturesque. They have not worked, of course, at least in many years, but they have supervised and lived the true life of pioneers. * * * Across the San Juan river from our home some Chinese has a factory making coconut oil products. The business is about 10 years old, so it dates with the beginning of China's serious problems with Japan. It has been growing all this time, and now has trucks for its provincial business and does considerable trading overseas. Its rumble, night and day, has come to be symbolic with us of China in combat with Japan. It rolls along like ol' man river. Should it ever shut down, we believe that would signalize a parley, and should it stay closed down as long as a whole day, that surely would presage some compromised peace. But it never does. 0-57 LA.,^ssI Ai _ INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents EI. t I LShL, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 1 30 The American Chamber of Cormmnerce Journal January, 1041

Manila Gets Modern Publishing House Ramon Roces lately found his publications overflowing once more the building in which he had them housed on calle Calero. In.this strait he bought the corner opposite and put up a 4-story building there that compares with the best publishing structures in town and is probably the best of them all. The building fronts on calle Soler, and a ladder of windows bows out widely at the elevator shaft so as to make each landing into a roomy little lobby. The ground floor is devoted to paper stock, business offices take the second floor, editorial offices the third, and the fourth floor is a recreation hall for the free daily use of the staff and employees, and has a grill and soda fountain. A newspapermen's dinner featured the opening of this building a few weeks ago. We were glad to be a guest. The indefatigable enterprise of the Roces family never ceases to intrigue us; while Ramon has been building up the largest publishing business in the Philippines by far, he has also, for a number of years, been managing the Santa Clara Lumber Company and added engineering and contracting to its functions as a lumber emporium-to such purpose as to have become a leading Manila contractor, with the Quezon Bridge among his 1940 achievements. Ramon Roces Publications, Inc. employ some 400 persons. On every floor of the new building there is a Rhett and alongside it a Scarlett, but this is mere gallantry for the most part-only 2 women are on the regular staff in any capacity. It's a man's show. Ten magazines make up the publications. The English publications are the Graphic, a news and feature weekly, and the Agricultural-Industrial Monthly. Liwayway and Hiwaga are Tagalog weeklies; their monthly editions eke out the list of 10 publications. Bisaya is a weekly in Cebuano, Hiligaynon is a weekly in Ilongo; these are, respectively, western and eastern Bisayan languages. Bannawag is an Ilokano weekly, and Bikolnon is a Bikolano weekly. The company also has an interest in the Woman's Home JournalWorld, official organ of the National Federation of Women's Clubs, edited by Mrs. Paz Policarpio Mendez, a member of the English faculty of the University of the Philippines and an insurgent leader of the Philippines women's movement. General manager over all this busi ness is Jose Fernandez Zorilla. The business manager and secretarytreasurer is Antonio Pefialosa, and the assistant manager is Pablo Revilla. Paper consumed in printing is more than 2,000 tons a year. Liwayway's circulation has run as high as 100,000 copies a week; here is a Manila periodical whose circulation revenue (12 centavos the copy) yields a net profit without addition of ad revenue. The circulation of the other publications is large, but not in the field with Liwayway's. Ramon Roces tries to print what he thinks will most entertain his readers. It is chiefly in the Graphic that opinion comes out and stands are taken on matters of public interest. Vicente Albano Pacis, formerly at the Philippines Herald, is the executive editor of all the publications, though he perhaps gives his chief attention to the Graphic, where we suspect many of the editorials derive from his pen. He is a scion of the University of the Philippines with postgraduate work at the University of Illinois; he is also the Philippines correspondent for the Chicago Tribune and the Washington Post. He is coming to be in demand as a public speaker, there is persistent talk that politics will soon get him. He hails from the north, he's an Ilokano.. never say die! Liwayway's editor is Jose Esperanza Cruz, a chap from the Far Eastern University. The Grapiic's editor is Angel Anden, a graduate of the University of the Philippines of 1930. Epitasio Tan Reyes edits Hiwaga; he is from the Ateneo of Manila. Flaviano P. Boquecosa edits Bisaya; his undergraduate work was done at the Junior College, U. P., at Cebu, where the magazine's largest circulation centers. Abe Gonzalez edits Hiligaynon for the masses of Panay and Negros; his college is the National University. Juan S. Reyes edits Bikolnon; he is a liberal arts and law graduate of the University of the Philippines. Amadeo R. Dacanay edits the Agricultural-Industrial Monthly; he is a bachelor in philosophy from the University of the Philippines. A. C. Fabian, formerly editor of the Graphic, is now production manager of the whole establishment -the man who keeps wheels turning in the printing department. Magdaleno Abaya edits Bannawag for the Ilokano region; he is a journalism graduate from the University of Southern California. In about a decade, all this has grown from seed consisting of a dis The new Roces Publications Building he American Chamber of Commerce Journal Janwry, 1941 31

carded flat-bed press and some fonts of worn-out type that Ramon wangled from his father, Alejandro Roces, Sr., at the TVT plant where Ramon's brother, Alejandro Jr., Andong to all the Philippines, supervises publication of the Tribune in English, Vanguardia in Spanish, and Taliba in Tagalog, all dailies, the first in the morning field, the others in the afternoon. As much as possible, Roces tries to shield his employees from usury through the services of the Mabuhay (Life) Loan Association to whose funds they mutually contribute if they wish, and where he keeps a kitty of P2,000 and charges no interest. Long-term loans are at 1% a month, short-term loans cost more; every November the profit is all divided, running average interest rates down to about 8 % a year. A usurious rate doesn't blush at 20% a month among such workmen. It is necessary to bring out that contrast in order for the beneficence of 8% a year to be clear. Ramon Roces seems a good hand at hiring men, but for giving them the sack has no skill at all. He works himself any number of hours a day, setting a fine example of esprit de corps; he pays double wages for 8 hours of overtime, 25% more for additional hours. There's a good deal of Philippine marble in his new building. Sugar Market Report (Ncvember 16th to December 15th) - ---- By Warner, Barnes & Co., Ltd. During the second half of November and the early part of December, the New York sugar market was quiet and dull with few sales done from 2.90~ down to 2.85~, mostly of Philippine sugar. Some stimulus was given to the market by the publication of deliveries for the month of October at nearly 608,000 tons, as compared with about 373,000 tons the previous year, but little real interest was shown, for the trade generally was awaiting publication of the 1941, quota figures. After the close of business on December 7th, the Secretary of Agriculture announced that the U. S. sugar import quota for 1941 would be 6,616,817 short tons. The general expectation had been around 6,700,000 tons, and when the actual figure was seen to be lower than this, it was construed constructively and interpreted as an attempt on the part of the Administration to improve sugar values. The resultant advance in prices carried quotations up to 2.95~ at the close of this period, at which level there were sellers, though only of moderate quantities, the majority of producers looking for still higher prices. The refined sugar situation remained unchanged throughout with quotations at 4.350. Quotations on the Exchange fluctuated as follows during the period: shipment at the lower returns which payment of the export tax entails. On December 14th, the Associated Steamship Lines announced that sugar freight rates to the U. S. Atlantic would be $15.00 per ton, effective immediately, which increase of $1.00, together with the tax, more than offsets the rise in New York prices. The market for local consumption sugar has been extremely quiet during this period at around P5.00 per picul, rising at times to P5.10, and falling back to the previous level. A decline in prices is expected in the absence of interest from buyers. Exports to the United States during the month of November amounted to 46,288 tons centrifugals and 484 tons refined. Centrifugals............... Refined.................... Total.................. Tons 46,288 484 46,772 Real Estate By P. D. Carman Boulevard Heights Manila Transfers in November were greater in value than in any other November on record. Without December the 1940 total is over two million pesos more than the entire year of 1939. This year's sales may equal the all-time record of 1 9 3 7 (P24,175,365). Strong-Material construction during November was, however, valued at only P471,460. Sales City of Manila - I January....... March......... M ay........... July........... September...... Low 1.850 1.900 1.940t 1.980 2.010 High 1.950 2.00~ 2.05~ 2.09 -2.12< Latest 1.92~ 1.97~ 2.01~ 2.06t 2.09( Reported sales of Philippine sugar during the period amounted to 63,350 long tons at prices ranging from 2.82~ to 2.950, and resales to 1,500 tons at 2.85~. Locally, the export sugar market has been very quiet throughout the whole period, with a limited amount of business doing at P5.65 during the early part of the period. No advance in exporters' quotation was made in conjunction with the higher prices obtainable in New York after announcement of the 1941 quota, for all available December shipment space had already been filled; moreover, holders are not yet willing to contract for January Sta. Cruz.......... Sampaloc.......... Tondo............. Binondo........... San Nico'as........ Ermn- t............ M alate............. Paco.............. Sta. Ana.......... Quiapo............ San Miguel........ Intramuros........ Pandacan.......... 1940 October November P 251,932 P 762,975 426,893 196,193 231,404 561,451 37,000 5,000 140,446 13,000 79,600 139,416 123,809 124,464 32,854 64,156 238,082 98,692 29,780 18,301 12,144 91,968 26,000 9,000 6,613 OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. MENZI & CO., INC. MANILA Cebu Iloilo Davao IMPORTERS EXPORTERS S H I P P I N G I N S U R A N C E SHIPPING INSURANCE Cable Address "CASAMENZI" _,l. *.... - --- -~~~~~~~~~~~~~~~~ 32 The American Chamber of Commerce Journal January, 1941

Copra And Its Products (Report for the month of November, 1940) By Kenneth B. Day & Leo Schnurmacher During the month of November, the market for copra, coconut oil and copra cake and meal were all somewhat better than has been the case for several months, but the apparent cause of better conditions was largely the unwillingness of producers to sell and the necessity of paying slightly better prices in order to accomplish any business. COPRA-Arrivals nila, arrivals constitl month of November, Kenneth B. Day vals for October but 1939. In Cebu, arrivals were 8% less than October and 4% under November of last year. Normally, receipts during November are considerably less than during October, and the heavier arrivals are probably due almost wholly to copra coming into the market which was held back in previous months. The local market opened with open quotations at P3.10 per 100 kilos resecada Manila, with buyers generally holding off. After the election, prices rose to a high of P3.30, but the demand at this price was shortlived and again the price declined slightly. The month closed with quotations at P3.15 and possibly P3.20 for preferred parcels. Considerable business was done in the range from P3.20 to P3.30. The Pacific Coast market rose to a high of $1.45 per 100 lbs. c.i.f. Pacific Coast, but declined and at the end of the month quotations were $1.375 with buyers holding for $1.40. During the last half of the month the local market was in advance of export equivalents, particularly due to two cargoes of copra being shipped to Vladivostok and to the demand of desiccators for nuts as is mentioned later. Statistics for the month follow:Arrivals: Sacks Manila.................... 527,337 Cebu...................... 393,674 were heavy. In Ma-: t: uted a record for the being 9% under arri15%o over November, Leo Schnurmacher half of the month there was very little business, sellers asking 2% cents with small buyers willing to take on at 25/ cents, while large buyers were holding off. On the Pacific Coast, sellers were holding for 2 /2 cents f.o.b. tank cars with buyers offering 1/ to 1X4 cent less. Statistics for the month follow: Shipments Pacific Atlant China Vladiv Metric ~~~: ~Tons c Coast............. 994 ic Coast.............. 8,36 & Japan.............. 107 'ostok............... 338 Total................ 10,075 Beginning End of hand- of month month i and Cebu... 19,027 24,161 Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! Here's how to get Manilas! ---- -- ~ ---------------- 11 List of D i stributo rs furnished upon request to I Stocks on Manils i I I Shipments: Pacific Coast.............. Gulf Ports................ Vladivostok............... Total................ Metric Tons 23,521 6,410 10,363 40,294 COPRA CAKE & MEAL-The Pacific Coast market for copra meal continued to improve, quotations rising from $18.50 per short ton c.i.f. at the beginning of the month to $19.50 at the close. Considerable quantities of copra meal were sold at this range, which gives better results than local sales for fuel or fertilizer, so that comparatively little cake or meal was sold locally. Statistics for the month follow:Metric Shipments: Tons Pacific Coast......... 7,900 Beginning End of Stocks on hand- of month month Manila and Cebu.. 10,582 9,929 DESICCATED COCONUT-Shipments for the month were 4,770 metric tons which is again a record month of the year. This was largely because of the export tax which goes into effect on January 1st, 1941. All desiccators were working to capacity in an effort to ship as much as possible before the export tax becomes effective. The desiccators were under necessity of purchasing coconuts heavily in order to keep their mills working at capacity, and this had a considerable effect both on the arrivals of copra in Manila and upon the market price of copra as desiccators were paying more than THE HON. THE PHILIPPINE RESIDENT COMMISSIONER Washington, D. C. or COLLECTOR OF INTERNAl REVENUE Manila, P. 1. MANILAS made under sanitary conditions will satisfy your tastel (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;..." - ~ ~ ~ ~ ~...-:: Beginning End of Stocks on hand- of month month Manila........... 33,967 32,150 Cebu............. 34,677 27,420 COCONUT OIL-The market in coconut oil was also slightly stronger in November than in October. Because of the high cost of copra, mills raised their quotations and some sales were made as high as 23/4 cents c.i.f. Atlantic Coast. During the latter The American Chamber of Commerce Journal January, 1941 33

I p SouthLen Islands CPuises Cebu-Dumaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P99 NINETY-NINE PESOS P99 Sailing Every Thursday New m/s. Elcano — /s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 the equivalent which the copra crushers can pay. Prices remained nominally unchanged and it is expected that the heavy shipments will have the effect of depressing the market for the next few months. GENERAL-While November has shown slightly better prices for all coconut products than the preceding months, there is no fundamental change in market conditions. Prices being paid in the Philippines for copra are higher than the American market warrants and higher than the export equivalent of copra. The export tax coming into effect on January 1st, 1941, will cut slightly into the value of copra meal and desiccated coconut, but will not affect greatly the market as a whole. Apparently for some time to come the market will depend upon the price at which copra producers are willing to turn over their product. March.................. 108,480 " April................... 115,071 May.................... 105,169 " June.................... 101,653 " July.................... 154,469 " August.................. 144,852 September............... 11,604 " October................. 89,919 " November............... 84,741 " Shipments to Provinces by Water Month Quantity January, 1940........... 141,473 cavans February................ 117,047 " March................... 115,389 " April.................... 103,613 " M ay.................... 169,825 " June.................... 118,905 " July.................... 143,088 " August.................. 111,142 September............... 83,859 " October.................. 59,301 " November............... 21,003 " PALAY In sympathy with the rice trend, buyers of palay reduced their ideas to P2.30 for new ordinario in the first fortnight; but as the effect of the drought became more fully realized bids advanced to P2.35-P2.45 towards the close of the month with sellers holding. Export Statistics (November,.1940) ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast and Gulf Ports, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K" LINE Express Service to Atlanlic Ports (Philippines to U. S. Atlantic Ports via Panama) ooz — Rice Review (November, 1940) By Dr. V. BuencaminoManager, National Rice & Corn Corp. The most note-::::worthy development during the month covered by...... ~?:?:?:this report was t h e spectacular advance in the f ' t price of fancy varieties particularI at ly that of Elonelon which registered a net gain of P.50 during the month. Macan and the ether ordinary grades, however, remained stationary reflecting the influence of NARIC rice, the price of which was maintained at P5.60 throughout the month. Elon-elon opened at P6.35, advanced to P6.55 after the first fortnight and closed at P6.85 with indications of further appreciation. On the other hand, Macan started at P5.75 lost P.05 in the second week and regained the loss as the month was drawing to its close. Were it not for the pressure exerted by NARIC rice on the market, the price of Macan would have moved upward in sympathy with Elon-elon. The firm position of sellers was bolstered by reports of wide-spread damage to the standing crop as a result of the prolonged drought. Throughout the month no rain fell in the principal producing areas of Central Luzon. This naturally encouraged speculative tendencies among traders especially on the fancy varieties, the supply of which is reported very thin. Rice Arrivals in Manila Month Quantity January, 1940............ 165,993 cavans February................ 121,745 " The total Revenue Tonnage figures for November 1940 are 328,809 tons, for a total of 94 sailings. Compared with figures for the month of October, 1940, the tonnage shows a decrease of 3,834 tons. SUGAR: Centrifugal/Raw............. Refined....................... Total November.............. Total October................ Decrease..................... Tons 55,762 484 56,246 64,845 8,599 COCONUT follows: Desiccated Coconut Coconut Oil Copra Copra Cake & Meal PRODUCTS: Distributed as United Misc. States Japan Europe Ports Tons Tons Tons Tons 7,936 60 - 11,800 - - 300 26,294 - - 10,380 7,735 - - 53,765 60 - 10,680 Trade Comm dg. Commerce Bldg. 2-15-21 Tels. 2-15-22 2-15-23 MANILA Tons Total Tonnage November...... 64,505 Total Tonnage October....... 75,664 Decrease..................... 11,159 34 The Amnrioa Chamber of Commerce Journal Jawuary, 1941

HEMP: Distributed as follows China & Japan.......... United States............ Europe................... Misc. Ports.............. Total Bales November...... Total Bales October........ Increase.................... LOGS & LUMBER: Distribut lows: China & Japan.......... United States............ Europe.................. Misc. Ports.............. Total Board Feet November Total Board Feet October Decrease.................. ORES: Distributed as follows:.... ed 6 2 1 Bales 47,741 57,509 22,518 26,583 Bales 154,351 142,994 11,357 as folBdft.;,995,907!,522,142 1,265,988 Other Commodities not listed above 8,913 Tons (November), 10,431 Tons (October). Decrease-1,518 Tons. SUMMARY OF TONNAGE DURING OCTOBER, 1940 Pacific Coast Canada Atlantic Coast " China Japan N. E. Indies Straits India Europe Australasia 162 87 - 13,343 } 123,229 136 Honolulu U.S.A. Pacific Local " Pacific Ovcrland" Atlantic " Gulf " Nov. 1940 Tons 270 35,902 3,284 110,709 6,422 Nov. 1939 Tons 49,479 1,652 59,804 5,889 9,323 142 Africa 1,402 W. Indies, Cent. America, South America 898 23,733 Total number of sailings during November, 1940-94 vessels of which 18 were American vessels. 575,522 Bdft:. 11,359,559 15,297,860 M Cu v I to 3,938,301 Misc. Misc~I (So ad PRESIDENT LINER United States Tons 18,505 China & Japan Tons 5,815 3,800 109,173 R7frn Copper Chrome Iron l Tons Tons T v ons Tons Manganese 9,983 28,488 118,788 Total Tonnage November..... Total Tonnage October....... Increase..................... s 0 0 Tons 147,276 119,078 TO SAN FRANCISCO LOS ANGELES AND 28,198 CONCENTRATES: lows: Distributed as fol United States Tons 284 China & Japan Tons Europe Tons Copper Gold Lead Zinc Via Hongkong, Shanghai, Kobe, Yokohama and Honolulu S.S. Pres. Cleveland............ Feb. I S.S. Pres. Coolidge............ Feb. 19 S.S. Pres. Pierce............... Mar. I S.S. Pres. Taft................. Mar. 15 S.S. Pres. Cleveland............ Mar. 29 TO NEW YORK-BOSTON Via Singapore, Penang, Colombo, Bombay and Capetown S.S. Pres. Monroe (new)...... Feb. II S.S. Pres. Madison (ex P. Garfield) Feb. 25 S.S. Pres. Grant (ex P. Adams).. Mar. 25 S.S. Pres. Jackson (new)........ Mar. 25 S.S. Pres. Harrison............. April 8 J I 284 Total Tonnage Novemb Total Tonnage October Decrease............ Tons er....... 284..........4,833...........4,549 OTHER COMMODITIES: TONS Leaf Nov. Tobacco 4,264 C'igar & Cigarettes 728 Rope Shipment 893 Embroideries 240 Kapok 12 Furniture 1,027 Gums 132 Molasses Vegetable Lard Margaline 1,330 SHIPPEL Oct. 1,504 ) 1,364 931 725 44 1,392 182 Incr. Decr. 2,760 636 38 485 - 32 365 50 -- AMERICAN PRESIDENT LINES "OUND-WORLD SERVICER 1,905 575 'he American Chamber of Commeroe Journal -January, 1941 35

Foreign Exchange Review (November.16th to December 15th) By J. Rapoport The dollar-peso r a t e remained unchanged during the second part of November with small interbank business bei ng done at 9/16 premium for spot and five and six months forward delivery. There were signs, however, that demand for dollars was subsiding as a result of a rather substantial drop in imports coupled with somewhat reassuring political outlook in the Far East and the consequent relaxation of buying of foreign exchange by the public. The latter, as we have pointed out in previous reports, has been an important factor in the foreign exchange market during the last several months. On the other hand supply of dollars was on the increase due mainly to appearance of sugar bills and sales of T/T by the mining companies to provide for the dividend payments in the last quarter of the year. Furthermore, banks anticipating somewhat larger demand for cash due to approaching Christmas and New Year holidays, were inclined to sell dollars rather than buy. Consequently, throughout the first half of Dec ember there were witnessed isolated interbank transactions in ready dollars at 1/2%C premium and interbank change-overs for four and five months forward at even rates, i.e., without any penalty for the buyers of ready dollars. Forward dollar rate continued at 9/16% pr. good sellers and small buyers at 1/2% pr. There was some revival of interest in finance bills and moderate interbank business was booked. Merchants' demand for clean T/T was covered at 5/8% pr. spot and forward while import bills were retired at 7/8% premium. Over the counter dollar selling rate was generally at 3/4% premium. 60-day sight documentary bills were generally quoted at 1/8% discount with small isolated transactions taking place at 200.00. I Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port Area The following statistics are compiled from the Bank Commissioner's fortnightly reports. These seem to indicate large increase in the adverse balance of payments, at least as far as banks are concerned, and greater dependence on the Insular Treasurer for exchange cover. Jan. 1 to Nov. 16, 1940 Spot and future exchange sold by banks........ Spot and future exchange bought by banks...... Net oversold.. P371,327,228 260,557,772 P110,769,456 To cover this discrepancy the Insular Treasurer was called upon to sell during the same period, drafts on New York reaching the unprecedented total of P78,604,848 (practically all of it to banks). The comparative statistics for 1939 are as follows: Jan. 1 to Nov. 18, 1939 Spot and future exchange sold by banks........ P353,232,262 Spot and future exchange bought by banks...... 281,638,842 Net oversold.. P 71,593,420 During the same period the demands on Insular Treasurer totaled P29,456,709..._LadEs el ncE 1SS7.... in LITHOGRAPHY ~ PRINTING PAPER BOXESe BOOKBINDING CALENDARS E NOVELTIES THE AMERICAN CHAMBER OF COMMERCE JOURNAL Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign P6 CARMELO & S AUERMANN, /INC. TWENTY FIFTY SEVEN AZCARRAGA MANILA, PHILIPPINES 36 The Amerioan Chamber of Commerce Journal January, 1941

VALUE OF PRINCIPAL PHILIPPINE EXPORTS TO ALL COUNTRIES BY MONTHS, JANUARY TO OCTOBER: 1940 AND 1989 (Data for prior to July. 1940, were compiled by the Bureau of Customs,) Month and year All exports I Abaca Copra, coconut Los lumber and old and Go s:lver Sugar timber -.___ ---- _ ________ —_ | pr oducts tmber_JANUARY TO SEPTEMBER: TOTAL-1940.................i P255,345.906 P 20.379,704 P 44.175,536 P 5,794,94S P 63,408,815 P 76,443,816 1939................. 265,873,253 18,936,31 1 47,353,732 5,333,952 60,528,193 89,640,810 January to June 1940................. 157,872,966 11,815.120 1 20,822,233 8,507,853 87,462,890 48,676,022 1939................. 170,791,250 10,503,338 27,504,159 3,218,899 34,770,668 69,082,750 July -- 1940................. 24,585,583 2,105,211 3,2232,017 755,954 6,916,262 7,673,057 1939................. 23,059,737 1,691,289 4,595,826 400,069 6,290,713 6,675,943 August - 1940................. 23,568,072 1,840,777 3,596,951 507,573 6,717,850 7,370,864 1939................. 25,934,718 1,910,674 5,112,991 C70,583 6,290,811 7,627,879 September 1940................. 24,179,580 1,761,843 3,029,078 422,495 7,607,521 7,658,027 1939................. 26,002,792 2,733,132 5,667,949 681,188 6,861,460 6,462,407 October - 1940................. 25,139,705 2,8.6,753 4,495,254 598,073 5,704,292 5,266,846 1939................. 20,084.756 2,097,881 4,472.807 563,213 6,814,541 2,042.381 IMPORT AND EXPORT TRADE OF THE PHILIPPINES, BY COUNTRIES, JANUARY TO OCTOBER: 1940 AND 1939 (Data for prior to July, 1940, were compiled by the Bureau of Customs.) Country of origin Import trade Export trade port tre minus iport trade ort tre or destination 1940 1939 1940 1939 1940 1939 TOTAL................ P233,551,903 P189,544,137 P255,345.906 P265.873,253 P21,794,001 r76,329,116 United States and territories... 183,704,382 124,401,981 212,784,024 218,871,451 29,079,642 94,469,470 Canada........................ 2,814,493 2,089,000 1,142,425 599,93 - 1,672,068 - 1,489,062 Austria........................ 1,528 58,237 - 1,528 - 58,237 Belgium....................... 841,082 2,688,763 146,018 751,324 - 69,1064 - 1,987,489 Denmark...................... 11,008 98,075 752,811 2,247,081 741,803 2,149,006 France........................ 568,077 1,403,661 3,117,665 3,480,717 2,549,588 2,077,056 Germany.................... 151,878 7,700,628 1,980,120 -- 15'1878 - 6,720,508 Great Britain.................. 3,099,733 5,141,709 6,265,297 5,328,017 3,165,564 186,808 Ireland........................ 185,556 377,776 1,896 10,834 - 183,660 - 366,942 Italy........................ 604,169 519,991 815,567 349,480 211,398 - 170,511 Netherlands.................. 2,545,383 5,268,737 43,069 6,473,092 - 2,502,314: 1,204,355 Norway...................... 527,565 155,578 94,878 482,866 - 432,687 327,288 Spain...................... 332,851 146,949 1,602,102 683,771 1,269,251 536,822 Sweden........................ 664,197 894,848 1,539,187 922,016 874,990 27,168 Switzerland.................... 840,840 1,487,578 174,434 14,843 - 666,406 1,472,735 China.......................... 4,798,632 4,481,405 3,125,12. 1,701,291 - 1,673,509 - 2,78'0,114 British East Indies............ 3,185,533 3,556,371 863,234 1,139,199 - 2,322,299 - 2,417,172 Dutch East Indies.............. 6,462,386 4,550,022 1,065,622 633,744 - 5,396,764 - 3,916,278 French East Indies............ 1,054,447 2,217,443 217,689 164,137 - 836,758 - 2,053,311 Hongkong...................... 1,729,473 1,490,465 2,517,9'65 1,384,10C 788,492 - 106,859 Japan............10.401,011 13,058,919 13,594,691 13.194,547 3,193,680 135,628 Kwantung.........49,150 168.115 126,631 221,083 77,481 52,968 Thailand (Siam).............. 1,373,359 959,892 300,113 249,274 - 1,073,2146 - 710,618 Australia...................... 3,027,681 3,378,987 686,940 703,661 - 2,340,744 - 2,675,326 All other countries............. 4.577.486 3.249,002 4,368,525 4.286.661 - 208.961 1,037.659 TOTAL EXPORT TRADE OF PHILIPPINES DURING OCTOBER 1940, BY NATIONALITY OF CARRYING VESSELS Nationality of carrying vessel Value Pesos Per cent of total TOTAL.................... 25,139,705 100.u American........................ 11,577,188 46.1 M ail............................. 5,227,076 20.8 J apanese....................... 2,507,415 10.0 Norwegian....................... 2,112,600 8.4 Norwegian 2,112,600 8.4 British.......................... 1,612,014 6.4 Philippine....................... 572,655 2.3 Philippine.572,655 2.3 Panam an........................ 545,882 2.2 Dutch........................... 526,482 2.1 Swedish........................ 410,467 1.6 Jugoslavian........................ 36,668 0.1 Aircraft....................... 7,383 (1) French..................3.. 3,875 (1) 1) I,ess than 0.1 per cent. T(TAI EXPORT TRADE OF PHILIPPINES DURING OCTOBER AND SEPTEMBER, 1940, BY PHILIPPINE PORTS OF ORIGIN October September I Per cent Poit of origin increase Pesos Per cent Pesos September of total _ l |i ~ Oetober __________________ _______ ___.____ October@ TOTAI,................... 25,139,705 100.0 24.179,580 4.0 Manila........................ 5,501,63 13,810,532 12.2 Cebu........................... 4,267,09' 17.0 2.004,957 112.8 Iloilo........................... 2.455.9. 8 9.8 4,491.625 - 45.3 Davao.......................... 1,404,890; 5.6 935,30: 50.2 Legaspi....................... 401,2'1 1.6 643,845 - 37.7 Jolo............................ 1,1 0 (1) 2,258 - 50 0 Zamboanga....................:44,021 1.4 233,366 47.4 Jose Paiganiban............... 76f.76f 3.0 2.057.692 - 62 9 (1) Less than 0.1 per cent. (a Minus sign (-) decrease. (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines) TOTAL IMPORT TRADE OF PHILIPPINES DURING OCTOBER AND SEPTEMBER, 1940, BY PORT OF ENTRY OCTOBER SEPTEMBER Per cent Port cf entry Value Per cent Value increase (Pesos) of total (Pesos) September to ____________________ _ October 'TOTAL..................... Z.431,772 100.0 17,060,364 31.5 Manila......................... 20,240,852 90.2 14,481,370 39.8 Cebu........................... 1,760,080 7.8 1,446,328 21.7 Iloilo........................... 295,102 1.3 900,254 - 67.2 Davao.......................... 52,052 0.2 50,726 2.6 Legaspi........................ 65,138 0.3 150 (2) Jolo........................... 13,476 0.1 14,082 - 4.3 Zamboanga..................... 4,92 (1) 20,192 75.3 Jose Paiganiban................ 70 (1) 147,202 -100.0 Aparri......................... 10 (1) 60 - 83.3 (2) Over 1000 per cent. (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF PHILIPPINES DURING OCTOBER AND SEPTEMBER, 1940, BY NATIONALITY OF CARRYING VESSELS Nationality of Value Per cent carrying vessel (Pesos) of total TOTAL.................... 22.431,772 100.0 American...................... 12.259,884 54. Philippine..................... 2,669,108 119 Philippine.. 2,669,108 11.9 Norwegian.................... 2,188,862 9'8 Norwegian.. 2,188,862 9.8 Dutch.......................... 1.425.238 6.4 British......................... 1,397,526 6.2 British.. 1,397,526 6.2 Japanese....................... 1,121,740 50 Japanese.. 1,121,740 5.0 Panaman....................... 605.092 2.7 605.092 2.7 M ail........................... 556,780 2.5 M556,780 2.5 Jugoslavian........................ 163,912 07 Jugoslavian.. 163,912 0.7 Aircraft......................17046 0.1 French......................... 16 488 0. 16,488 0.1 Danish......................... 6848 6,848 (1) Swedish........................ 2,538 S w e d i s h...... _2,5 3 8 ( 1 ) Italian talian.......................... 710 (1) (1 ) Less tha. n 0- r... — '..... (Note: Total value of imports does not include the value and household goods of passengers arriving nor of imported into the Philippines.) of personal effects currency and notes The Ancrican Chamber of Commerce Journal ~anulary, 1941 37

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending November 23, 1940, as compared' with the same period in 1939, are given at right. The volume of commodities received in Manila during the months of August, September, October and November, 1940, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING NUMBER OF FREIGHT Increase or COMMODITIES FREIGHT CARS TONNAGE Decrease 1940 1939 1940 1 1939 Cars Tonnage Rice................ 296 332 3,778i 4,263 ( 36) ( 485) Palay................ 68 75 653 1 969 ( 7) ( 316) Sugar......161 114 4,888 3,076 47 1,812 Sugar Cane 1,801 1,853 32,961 35,568 (52) (2,607) Copra.............. 512 1 667 4,848 6,224 (155) (1,376) Coconuts...127 74 1,652 773 53 879 Molasses....3 20 78 586 ( 17) ( 508) Hemp............... 10 1 126 8 9 118 Tobacco....10 5 104 52 5 52 Livestock 51 4 415 57 47 358 Mineral Products 234 315 3,264 4,286 ( 81) (1,022) Lumber and Timber 283 221 7,298 5,106 62 2,192 Other Forest Products - 5 - 82 5) ( 82) Manufactures.... 148 265 2,577 4,588 (117) (2.011) All Others including L.C.LT........... 2,634 2,747 24,860 20,839 (113) 4,021 TOTAL...... 6,338 6,698 87,502 86,477 (360) 1,025 SUMMARY Week ending Nov. 3 1,199 1,217 13,228 12,316 ( 18) 912 9 1,270 1,286 15,430 13,568 ( 16) 1,862 16 1,374 1,805 20,100 24,759 ( 431) (4,659) 23 2,495 2,390 38,744 35,834 105 2,910 TOTAL.......... 6,338 6,698 87,502 86,477 360) 1,025 NOTE: Figures in parenthesis indicate dcce, COMMODITIES AUG. SEPT. OCT. NOV. Rice, cavanes................... 138,534 129,411 84,291 59,460 Sugar, piculs.................... 170,505 375,186 273,423 73,662 Copra, piculs..................... 187,247 148,267 171,344 111,527 Desiccated Coconuts, case....... 48,782 56,404 41,210 34,031 Tobacco, bales................. 3,028 2,650 2,504 1,101 Lumber, board feet........... 2,016,851 1,795,975 1,426,540 1,049,410 Timber, kilos.................... 1,626,000 1,086,000 598,009 243,000 Manila and Quezon... Continued from page 12 die about the ships there, enabling them to load and unload from all hatches at the same time-at very low cost. Never think that the whole preoccupation of Malacafian has been Quezon City. One thing Malacafian has been doing all over Manila (in addition to North Harbor, new bridges over the Pasig, and new national roads including the magnificent Circumferential Highway round town and through Quezon City) has been the cleaning out, sanitation, and facing up of the canals. Quezon City will be to Manila as the L built on the farmhouse after the marketing of a good wheat crop, or when sugar has been sold at P8 a picul. Manila will remain the substantial original structure, as desirably situated with respect to in dustry, business, and ocean commerce as any city could pray it might be. With such an addition to all this as Quezon City, on its cool spacious heights, Manila may even expect to attract to herself much capital and initiative from overseas that she now palpably lacks for complete grappling with her future. For it is everywhere evident that by some means, big things have to be tackled and done in this city, in this country generally, and in big ways. The little things done in little ways, with comparatively little capital, that have sufficed up to now, will not, for long in the future, fill the bill. We have a potential Pittsburgh for our city, and, in Quezon City, the heights remote from the chimneys that ought to be the landmarks of busy factories. 1940 Upped Philippine... Continued from page 24 The Purico Troubadors for Philippine Manufacturing, evenings over KZRH, have a popular show under direction of Remigio Mat Castro assisted by his string orchestra, songs in Tagalog and Bisayan-the latter once a week. A clever interspersion of dialogue and radio skits features this program. While news has sold the radios, the buyers demand entertainment as well. Diana Toy on the Lux Theater of the Air is popular among the singers, her specialty being sentimental pieces. Ted Wallace arranges these programs, wherein The Mystery Singer figures popularly with a wide range of songs, swing, rumbas, kundimans, -^st everything, accompaniment by the Lux Orchestra. So the offerings improve, and patronage responds. BUSINESS AND PROFESSIONAL DIRECTORY I ef ia a ltl CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorney-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships 11 Investments Collections Income Tax 560 Taft Avenue Manila, P. I. I 38 The American Chamber of Comm7erce Journal January, 19 4

THE AMERICAN CHAMBER OF COMMERCE O U RNAL A e "i *. MAN ILA, PHI LIPPINES VOL. XXI, NO. 2 FEBRUARY 1941 3 5 CENTAVOS

I 41st ANNIVERSARY EDITION of the Gl otten tlrd aing marking another Here's to your greater enjoyment! A grand drink that brings you new delight because it's different. Made with Schenley's Golden Wedding - the finest American Whiskey. Ask for it anyzwhere! Sole Agents: THE MANILA WINE MERCHANTS, INC. Largest WVholesale and Retail Dealers in the P. I. milestone in Philippine - American relations and progress till be issued MONDAY FEBRUARY 24th, 1941 Hleal Office 174 Juan Luna Tels. 4-90-57-4-90-58 Retail Branch Office 37-39 Calle Alhambra Tel. 2-17-61 m - — _ I I~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

F. G. Roth -Columbian Rope Company, at Davao. "After six months absence from the Philippines I have had a whole flock of Journals to browse through. Next time I'll have to get them currently, there is so much of interest. Some of the material interests me because of its news and informational value, some because I agree, and some because I disagree; but it is all good writing." * * S Hon. Manley O. Hudson -Of the Harvard Law School, and a Justice of the World Court. "I presume you know that there is a group in this country led by Clarence Streit which favors a federal union of democratic countries. There is also a good deal of opposition to this, and I am not sure that the government here would have much support if it launched on such a policy at the present time." (But we are sure the government would not have much support for such a policy as Clarence K. Streit contends for in his book Union Now and subsequent propaganda. It is too narrow, too aloof from America's better destiny, and gives too little attention to the rule of change. Some countries have a bent for expedient arrangements, America has a bent for international law. It is possible that the Americas together, and such countries elsewhere as might join them, can, when fascism is defeated, constrain all nations to use the World Court at The Hague, this presupposing American fleets dominating both oceans). Somewhere in Wales Great Britain. Oct. 20, 1940. DEAR AMIGO, An epoch seems to have passed since I wrote to you in the spring. For the first nine months, as I told you then, the war didn't affect us much. There was the black-out of course, but that was merely a minor inconvenience. Since June, however, it's been very different. Our first raids began in the middle of that month, and they've been going on ever since with scarcely a day or night's interruption. But it's only rarely that bombs have been dropped near us, and even then they have done precious little damage, though some of the more important towns and ports in this coast have not got off so lightly. The daylight raids I i LUZON BROKERAGE CO., INC. Derham Building MANILA P. 0. Box 591 Port Area Tel. 2-24-21 Licensed Customs Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen I I I 1jo thie Outdoots VIA MRR The Way of the Nation FOLLO W...... The Path of the Sun! S UNSHINY days once more throw open the pleasant road to vacation and delightful sojourns in proven resorts: Baguio, the Playground of the Nation Tagaytay, the New Picnic Ground Legaspi, the Town for Beauty Seekers You can reach all Via the MRR System which by rails and buses and connecting carriers serve Luzon towns extensively. PLAN YOUR VACATION NOW By MRR, you will spend least, by MRR you know you are safe, safe going and safe returning home, and comfortable all the way. Fares from Manila to Baguio, first class round trip, P15.07; to Tagaytay (by Luzon Bus Line), P1.03; to Legaspi from Paco, P18.73. See your travel agent. Or Call General Information Tel. 4-98-61 for rates and schedules and the Traffic Manager, Tels. 4-70-57 & 4 70 58 for party arrangements. i h r M MANILA RAILROAD COMPANY The National Transport System Tutuban Central, 943 Azcarraga, Manila, Philippines I The American Chamber of Commerce Journal F'ebruari?, 1941 1

seem to be made with the intention of bombing either us here or the nearby ports and industrial centers. That is also true of some of the night raids, though more often at night the planes merely pass this way from France, presumably using the Bristol Channel as a guide, and going on from there to the inland parts of the country. But whether coming or going or sticking around looking for a target here, and dropping their parachute flares in the hope of finding one, it's not exactly a comfortable experience for us, though we have now got used to it. (At this very moment, 7:25 p.m., off goes the wail of the banshee once again, and soon no doubt I shall hear the nocturnal drone of Hitler's minions miles up in the heaven.) At our village home we have no shelter, and so we carry on as usual (as now). My wife doesn't seem to mind it one bit. (Over they go.) At such a time as this I find my interest in things Oriental a great solace. Wallowing in the Philippine papers and my old books like a carabao in his mud pool, right up to the eyes and nose and the tip of the horns, I can escape easily enough from this as a rule. But there are times when it's not easy to keep one's mind on I any reading or writing when the planes are overhead. Then I usually turn to some mechanical sort of a job, or stand at the door and watch the tongues of flame leap out of the jaws of the anti-aircraft guns in the fields nearby. It was the racket from these guns that was the most disconcerting at first, but we have now got used to that too. When this business began in June, and as we had no shelter to go to, my wife and I used to get up at nights and sit on stools in our hall, in a sort of nook there (there's a Welsh word "cwch" which exactly describes such a place). But we were losing too much sleep that way. We solved the problem by giving ul) our dining room, transferring the dining table to our sitting room, and turning the dining room into a bedroom. It's much safer on the ground floor, of course, and as additional protection I have sandbagged the window and part of the outer wall. And for their greater security, I have brought down from my workshop upstairs all my Filipiniana which I should be broken-hearted to lose. And there in what we've christened Fort Manila we hang out and hope for the best. Indeed, my wife has slept through some quite hectic nights and never known about the goings-on until I have reported thereon in the morning. In the town where I was born my father is the one and only village Air Raids Precaution Warden. Even there he loses plenty of sleep, though he has nothing more exacting to do than see that the black-out is observed and be about while the planes go over, which they do regularly enough. Only once have they dropped bombs up there. Two landed in fields which in the Middle Ages belonged to Benedictine monks who came out from their Priory in Brecon to fish in the Mere, and between them these two bombs killed three sheep! Still that was exciting enough for the heart of Wales but not half so exciting as the night in early August when thousands of leaflets containing Hitler's latest effusion to that mother-in-law of Parliaments, the German Reichstag, were scattered over miles of countryside, three of them in our garden (my father rescued one of them from a plum tree). As well as these mild excitements rural Wales has its peculiar war problems, as our villages have now become refuges for the victims of London and Liverpool. My mother has just taken in an air-raid widow and her daughter from London. (We live in a "neutral" area. We neither evacuate nor receive evacuees, just stay put.) Altogether there are now thousands of London Eastenders in Mid-Wales, and one good thing at least may come out of all this-it will bring town and country together i i i I I VISE & COM PANY, INC. Cebu MANILA Iloilo FOUNDED 1826 EX POR T E RS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum I M P 0 R T E R S Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds MANILA OFFICE Wise Building, Juan Luna Cable Address "SAPIENS" Standard Codes -A L __ 2 The American Chamber of Commerce JolourVli i February, 1941 X

I d I I - I ir I~ I c as never before. Young London is seeing cows and sheep and chickens for the first time, and I found one small boy actually taking eggs to bed with him when I was up there in August. He was almost emulating out friends out at Pateros! We have our own ways here in Wales and it was feared at first that this invasion of Ingleses with their town ways would break down the charming simplicity of country life. Instead these children seem to be becoming part of the countryside, and even learn| ing and speaking Welsh. (And now there goes the All-Clear. A short one that.) Some years ago Sir Arthur Salter and others pressed for the construcI tion of camps which could be used as i school holiday camps and as homes for evacuees should war come. Unfortunately nothing was done. Such centers would be invaluable now, as it is a difficult job to place all these evacuees in village homes. Only youngish parents can cope with the additional responsibilities and work involved in giving a home to more i children and possibly to a mother as well, and in country places you don't find so many such parents. The burden falls hard on elderly people, especially as the evacuees are not inclined to do much to help themselves, but our village folk are nevertheless responding well. The war hasn't made much difference to the life of urban people outside of London. Business is as usual, rather more than usual, and in Cardiff the theater has not offered such fare in years. Last week, Griffith Jones and Mary Clare (both wellknown here) were playing at one theater and the famous D'Oyly Carte Co. were doing "The Mikado" at another; and in the cinemas there was "Gone With the Wind" at one of the leading cines and "Rebecca" at another. And up and down the mining valleys Sybil Thorndike and the Old Vie Co. are playing Macbeth. The newspapers are sometimes late coming down from London, but they do come; and so do the mails. Some articles are scarce (e.g. oranges and lemons) and others (such as onions and rabbits) climbed to ridiculous prices, until the Ministry of Food stepped in and controlled. But there is no hardship in all this and our inconveniences are few indeed. There is a good deal of discussion of the war and its aftermath going on. Maybe we shall come out of it all a more democratic nation. There is more frank and honest-to-goodness talk going on nowadays about our social and economic make-up than ever before, and J. B. Priestly over the radio every Sunday night has done much to remove the blinkers e.ASerica' Clamber of Com,,mece Journal?brua r!/ 19.41 from the eyes of those who never knew how ordinary folk lived. And there is little jingoism evident.... You s, The letter from Wales that closes on this page came to Editor F. S. Marquardt of the Philippines Free Press with a request that it be handed on to us. Many readers may have seen it in the Free Press, for others it seems well worth republishing. We would like other letters, when our readers have them. on how Britains take it and how British morale survives.-Ed. IL PLOMB HAND FORGED Automobile & Aviation Tools FIT for the work they are built for, and GUARANTEED to do it PLOMB TOOL COMPANY Los Angeles, Cal. Represented exclusively by E. VIEGELMANN 460 Dasmarifias-Manila, P. I. L.: FILING CABINETS Manufactured by Watson Mfg. Co. In stock At reduced prices Letter, Legal and Oversize F. H. STEVENS & CO. 227 Calle David, Manila —. -- -- Y L FOR * Complete Insulation Against Heat * Beauty * Economy BUILD WITH CELLT JTEX INSULATING CANE BOARD Consult NORTON & HARRISON CO. "Better Building Supplies" 119 13th St., Port Area MANILA Telephone 2-20-57 3

0 Have your oil checked regularly and see that it is up to safe driving level. After 1500 kilometers of operation, drain the old oil from the engine crankcase and refill with fresh MOBILOIL. Periodic crankcase draining saves money in the long run. It eliminates repair bills caused by dirt-laden oil... keeps your motor running smoothly. AT YOUR NEAREST STANDARD-VACUUM SERVICE STATION STANDARD-VACUUM OIL COMPANY PHILIPPINES 4 The American Chamber of Commerce Joiurnal February, 1941

The Father (and the Savior) of America America's only national legal holiday is but 3 years old, Armistice Day. All else relating to holidays is managed by the states, or even by the cities: Nineteen states pass by Lincoln's birthday, none Washington's. America as the union of the 48 states has no national holiday except Armistice Day, November 11, and gets along merely with legal, or public, holidays determined by the states and the organized territories respectively, and each for itself. A minor emendation is a provision of the 20th amendment of the constitution, applicable of course only to the District of Columbia, making January 20, Inauguration Day, in 1937 and every 4 years thereafter, a legal, or public, holiday. The District belongs to the Union as a sort of commons for the national capital. It does not manage for itself, but is administrated by congress by means of a committee. Thus the birthday, February 22, of George Washington, Father of His Country, is after all no national holiday; but it is tantamountly so, since it is a legal holiday in all the states, territories, and possessions. It is a legal holiday in the Philippines, by Philippine law. Even a more significant day for many contemporary Americans is February 12, Lincoln's birthday, because these Americans justly regard Abraham Lincoln as the Savior of His Country who deplored every hour of the civil war he had to wage to save it. Naturally, this feeling is not universal. Even in Massachusetts, Lincoln's birthday is a legal holiday only by proclamation of the state governor: it is there at par with Thanksgiving in the law, but only in the law, since Thanksgiving, nationally inaugurated by Lincoln, but celebrated traditionally in New England long before his era and far back into colonial days, is the most popular of all American holidays. This has philosophical interest, since Thanksgiving is the holiday with the least law behind it. There is no law behind it, the president merely proclaims it by official fiat, that none is constrained to observe, and the state and territorial governors follow suit or no, as suits them. In his proclamations, President Roosevelt has taken to moving Thanksgiving Day forward one week in the calendar, for a wider shopping spread between it and the Christmas holidays. While this obviously makes "le A ecrican Chamber of Commerce Journal k('hCrNa r, 19. 1 0 6,-N C 2 -7 779~ things easier for millions of commercial employes and hundreds of thousands of executives, and benefits everyone from the farmer up, blessings in themselves for which all might be grateful to Providence, many states, particularly those of New England, thus far refuse to conform and their governors still proclaim Thanksgiving to be the last Thursday of November and not the third. The people in these dissident states, as in all the states, territories, and possessions, are free to follow their own wishes in this matter of passing consequence. A few celebrate both days, more side with Roosevelt. In the dissident states a majority follows the state governors-whose proclamations merely echo popular sentiment. Roosevelt is otherwise concerned with the November holidays. He will be partly remembered as the father of the country's first national legal holiday, a precedent that not every state is bound to welcome, while none will reprove this particular act: the act making Armistice Day a national legal holiday, signed by Roosevelt in May, 1938. This infringes a prerogative never granted away to the federal government but tenaciously retained by the states. Congress merely felt certain of its ground, the honoring of a cause common to all the states, territories, and possessions. Other legal holidays common to all the states, territories, and possessions are New Year, Independence Day, and Christmas. Labor Day, the first Monday in September, is recognized in all the states, territories, and possessions, except the Philippines. We here observe the international Labor Day, May 1, and it may be remarked that in the Philippines May is a better time for a labor holiday than rainy, gloomy September. Federal offices and services in the Phil 5

ippines do not observe Labor Day May 1, but in September. To the common American holidays, New York adds October 12, Columbus Day. America's general election day is the first Tuesday after the first Monday in November, in the years evenly numbered. You would think that would be a common legal holiday (as such days are by national law in the Philippines), but it is no holiday in Alaska, Connecticut, District of Columbia, Hawaii, Illinois, Massachusetts, Mississippi, Ohio, the Philippines, or Vermont. In Illinois, Chicago and some other cities make it a holiday, autonomy in this matter extends to simple communities. In Ohio it is a half-holiday; in Maine, a holiday only for the courts, as is Maine's state election day, the second Monday of September in years evenly numbered. Thirty-five states of the total 48, observe Columbus Day as a legal holiday, as does Puerto Rico. Forty states make May 30, Memorial Day, a legal' holiday. Eight do not: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, and South Carolina. Again, Good Friday, a Philippine legal holiday, is also a legal holiday in a few of the states: Connecticut, Delaware, Flori- da, Louisiana, Maryland, Minnesota, New Jersey, Pennsylvania, Tennes-' see, and Puerto Rico, a territory. It is usual for Connecticut's governor to proclaim Good Friday a day of fasting and prayer; other states observing it rely informally on the calendar to remind their citizens of its significance. Forty-nine other days of the year are specially interesting to one state or another and set apart in them as legal holidays. January 8 is such a day in Louisiana, anniversary of the Battle of New Orleans. Founders' days are popular in this list, as in Georgia, l'atest of the original colonies, February 12, Lincoln's birthday, is by no means celebrated for Lincoln, but for James Oglethorpe, who on that day, in 1733, when Washington was nearly a year old, landed on that coast with his colonists and founded the colony of Georgia, named for England's king George II who had encouraged the enterprise and granted the colony a charter. Washington's birthday has not been honored among the states as a legal holiday from the very beginning of the Union, which would have put it in Washington's own administration. The practice grew up later, long after Washington was dead. It was toward the close of the third presidential administration, his own, Lincoln at the White (From a Photograpi that friends of Jefferson's in coIlgress broached proposals to him to make his birthday a legal national holiday. He of course put the suggestion aside forthwith; he did not favor such legislation, but if for anyone, then it should be for George Washington, Father of His Country. Here is perhaps the very seed of the custom, now secured in all the state and territorial laws. Jefferson, who so disliked politics and public life as to omit from his obituary the very fact that he had twice been president of the United States, would approve this outcome of his remark. During all their political differences, culminating in their adherence to opposite parties and opposing political systems, Jefferson, the father of American democracy, and Washington, Father of His Country, remained warm personal friends and Virginia neighbors. This is true though JefiH-ouse ferson devoted his administration h) largely to rapid undoing of President Washington's work, more precisely that of Hamilton. Washington shared Jefferson's distaste for public office and undertook it only as a public duty that could not be delegated to another. Had he not undertaken the first presidency, it is reasonable conjecture that the little penniless Union would have dissolved in the passions of its own irreconcilable factions. A like duty of stern amalgamation of mutually repellent elements devolved on Lincoln in 1861; by every means he would have avoided the presidency, in favor of some other man he felt to be more ably deserving of it, had such a man been ice forward in the public confidence; though here we have a party leader who really likes politics, as Roosevelt likes it today, and was not averse to its special rewards. But Lincoln's great passion was for the Union, just as Andrew Jackson's had been: The Union, it must be preserved. Those were Jackson's words, when Calhoun was constructing his constitutional theory of the privilege of states to withdraw from the Union. B When, 20 years later, Lincoln was.rv ~ inaugurated president when many of the states were actually on the verge of putting Calhoun's doctrine to practical test, in his inaugural address Lincolh paraphrased Jackson when he said, "The mystic chords of memory.... will yet swell the chorus of the Union when again touched, as they surely will be, by the better ch a house, angels of our nature.":oln's birth- These words are in kindly contrast mestead is to those that under far less anxious icoln home and provoking circumstances, have iumble, no often gone out to recalcitrant partisans from great world capitals. For Washington's Birthpla Lincoln's Birthplace. Thai su though of logs, was truly Linc place on a raw Kentucky ho probably untrue, since the Lir was probably much more h more than a substantial cabin. ^ 6 The American Chamber of Commerce Journal February, 1941

this and many reasons, it comes about that scholarly research in America and abroad finds more interest in Lincoln than in any other figure of American history. No exception can truthfully be made for Washington himself, who suffers in libraries from Chief Justice Thomas Marshall's biography of him. It is a piece of good fortune for Lincoln that no such figure as Marshall's rushed up in his defense in the years immediately after his death: the Charnwoods and Sandburgs come along only now; and the Drinkwaters and the Sherwoods. It may well be that America will come to regret her first, and to date her only, national legal holiday, since Armistice Day seems to have ended a war that ended nothing. Were President Roosevelt not such a precedent-smasher, he might have left this question with the states, or have deferred national action until the accolade of time confirmed the day as transcendent in national history. The least to be said is that our first national' holiday is essentially an international day in which we follow Europe, something, respecting Labor Day, for example, we have refused to do. Armistice Day will certainly long be honored in America, but the spirit behind this requires no fillip of national law: the states themselves will long remember the irrepressible national rejoicing that the first World War was over and the troops were coming home. States that set Lincoln's birthday anniversary aside as a legal holiday are California, Colorado, Connecticut, Delaware, Illinois (his manhood state), Indiana, Iowa, Kansas, Kentucky (his native state), Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, New York, New Mexico, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Utah, Washington, West Virginia (born of the Civil War), and Wyoming. By the governor's proclamation it is also observed in Massachusetts, and by law in Alaska, a territory. Nineteen states do not include it among their legal holidays: Vermont, New Hampshire, Rhode Island, Maine, Wisconsin, Arizona, Florida, Georgia, South Carolina, North Carolina, Alabama, Mississippi, Louisiana, Arkansas, Texas, Oklahoma, Idaho, Maryland, and Virginia. In this month of February, birth month of Washington and of Lincoln, these data on popular American holidays are worth recording. It may be added that in 1860 the Democratic party delivered the election to the Republicans (their first candidate General Freemont, in 1856) by Martha and George Washington and Mount Vernon, Their Horne The Wigwam, Chicago, Where Lincoln Was Nominated for the U. S. Presidency by the Young Republican Party, in 1860. The galleries were packed for Lincoln, Illinois' favorite son, and the convention was besieged by demonstrations. William H. Seward was the 'Dewey" of that convention, and Charles Sumner the "Taft". Like Willkie at Philadelphia last year, Lincoln emerged victorious as the galleries' choice: all combinations against him were futile. In 1864, Lincoln believed till late in the campaign that General George B. McClellan would beat him, but timely Union victories turned the tables and Lincoln's majority was large. In 1860, the Democrats handed the Republicans the election by splitting their ranks and nominating two tickets, profoundly changing the course of national and international history. splitting in two, and in so doing, profoundly altered the course of history and gave democracy a hero, in Lincoln, and even another in General Lee, both likely to be imperishable. Lee's democracy came out in his taking the presidency of the University of Virginia at $1,500 a year, in preference to flattering offers in New York, because he realized the greatest need of the southern states would be education. This sacrifice excelled his brilliant exploits in the field. THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed. helpful to the Commonwealth's economy. Subscriptions P4 a year - Foreign P6 Thc American Chamber of Commerce Journal Iebruary, 1941 7

Tell it to the Marines I Also to the sailors and soldiers of the growing service community in and nearby Manila, which this paper studies as a barracks town and world port and not at all as the home city. We spent a recent evening sizing up the joints that obviously cater to service men: sailors, soldiers, marines. With the wife in tow and omitting from the itinerary les maisons que le police tolere et que la morale reprouve, we did calle Echague first, then crossed the river and got, by 2 o'clock of the morning, to the neighborhood of the Bamboo Hut. Tom's Oriental Grill then claimed cursory attention, and we were off home to bed unharmed by the whisky-water in which we were floating, our conscience that of a chapel bell. The places we saw are partly served by men waiters, seemingly punch-drunk veterans of the ring whose probable function is more that of bouncers than waiters. Partly they are served by girls, some saying they are waitresses, others that they are hostesses. They achieve professional status by buying licenses and undergoing periodical examination. Some of the places sport orchestras, others manage with juke-boxes feeding on 10-centavo pieces. Tawdry would describe a lot of them, cheap in every department save prices. Our first observation was that few of the girls were less than ugly, and none could dance. Their partners had fairly to drag them to the floor, then drag them through their paces. They could follow no steps at all, and were always unaware of the music. Evidently it is no part of a hostess's calling that she know how to dance: she pays the city, or someone pays for her, and presto! she has a license. There would be a tall lean sailor hungry for a shuffle or two (many were Blue Ridge Mountain types), and the best he got was the privilege of dragging his partner round almost literally by the hair. This was all done gently enough, but the sailor's repressed desire to do justice to the tune was tragic. Roll Out the Barrel! Yes, says you-with what! But the boys all took it in good nature, and for the matter of that, so did the girls. The moment we got into a place "Why I'm Glad I'm an American" Today I picked up a clod from my yard, broke it, and as it sifted through my fingers I realized for the first time that this was more than just dust. This was a tiny piece of America. I owned a rare treasure. A bit of the only soil left in the world today where a man can stand free and unafraid. i was standing on a piece of America, a few feet around and a thousand miles deep. Here alone, in all the world, could I build my future, knowing that it would be secure, and raise children with the knowledge that they, and their children, could enjoy that same security. I could stand on my tiny piece of America, think freely and say what I thought, do what I pleased, shrink from no man and call upon whatever God I chose. Three deeds protect my land. One is locked in my strongbox, my purchase deed. The others are enshrined, and locked in the hearts of every American,-the Declaration of Independence, and the Constitution. I am a fortunate man, the indisputaoie owner of my own life and the land on which to live it. I am an American! Hobart Franks. i sailors we saw seemed to expect nothing better, but what impressions young soldiers and sailors must get of the Philippines! For these clucks with whom they mingle frequently are chiefly redeemed by a primitive kindness-they are dumb beyond all believing. To an old stager, the technique, constantly in motion, dedicated to getting the boys' last cent, the bouncers ever alert for the finale, i. e., a shove to the gutter, had the transparency of glass, or an imperial poem of Kipling's. But again we report, the boys themselves were in the spirit of the game: they apparently had to play and this was the game that was going, something to kill time, something to drown ennui. We wonder after this night's debauch whether the universities are not overlooking a bet in giving these young Americans no attention. They ought to be able to enroll hundreds of them in their courses, especially out of the army and the marine corps. You have no idea, perhaps, how much time a soldier often has to kill, regularly, days and weeks on end. At Nichols Field, for example, some 20 hours a day; there are 4 hours of work of mornings. We met Nichols Field men who were ripe for college, boys but recently from highschool, habituated to study-even with inclinations for it. This is a mere suggestion. Does some glib and straight young fellow need work? Let him. apply to some of the good universities to represent them in procuring students. Why not? and at a commission. Then let him pass out cards and get some of these boys together in order to advertise to them what these Manila schools offer. If he's the right man, he'll do a good deal of business. For it would not take much argument to persuade dozens of these intelligent boys not to fling all their time away. One class would invite another. One place gave us a real thrill. It could have been a set from The Long Voyage Home along Liverpool dock, with Norwegian boys in lieu of the we were rushed by waiters, often the men. We met a friend, who stood a round of drinks. We wanted a cigar, Old Presidente (a very well known brand), the wife wanted a smiall beer and the host wanted a stein. Our combined efforts could not get this simple order over. The host wound up with a mug of beer, I with a Corona; better than the order, we'll say, but not the order. The main business was to keep the cash register ringing, and at this art these places can't be excelled. They run all night, but some of them not by day. We make no doubt that they are necessities of Manila's peculiar social circumstances. The 8 The American Chamber of Cotnerce Journal Feibruary, 1!91,'

Swedes of the tramp Glencairn. The girls, rather prettier, in this rare case, than Liverpool could show, preferred fondling the men in the vicinity of their wallets. All had a sharp eye out for the boss's tips, all worked like ribald marionettes; as talways during the evening, men were thle real manipulators of the strings, and it is pretty certain that where a girl got 1 peso, some man, or men perhaps, garnered 2 pesos or more. One blond giant was far gone in his cups. His chum, hardly better off, was trying to protect him. A taxi driver, with a concealed weapon not less than 8 inches long, was claimilng fare that the man swore he had already paid. When the taxi driver said no, the man thought he was accused of dishonesty. This froze at once into a fixation, a point of honor that in all circumstances he would have out with the driver. The proprietor was in a quandary; he didn't dare quarrel with the driver, who brought him trade, nor did he want the blond cut up, in his place or outside it, because that would be messy, even to the coppers of Pasay, while it was obvious the blond still had money on him from the fact that a water-front friend was still sticking with him and his buddy from the ship. A further complication of this peculiarly moral situation was that several other men from the ship were still drinking with the girls and ringing up the real profits of the evening. There you have it all: the dive, the siller-hungry proprietor, the general hangers-on, riff-raff of the port, the freighter crew on their first night ashore, the ship up from Zamboanga, the girls from upstairs, the crimps, the taxi ghouls, the ribald hilarity of all the frizzled chits in the place as they scented fight in the beery air. (Any command of English these girls have, includes, we discovered, all the short incisives). Waiting outside were coteries of other drivers, none of whom would see his fellow worsted in a brawl with a man they all sized up as German. The timely advent of an MP, though none of his men were here con cerned, was the only factor in the situation that prevented a parley of fists and knives. We will not contend that the young Norwegians had not the right to seed down Pasay with their pay, just as they will seed down Brooklyn and PBaltimore with their pay when they land there. It was to us all glamor of the night, a part of long tramp Voyages the world over. We even add that these Norwegians had found filles de joie quite above the Patriotism on Pilgrimage Bartholdi's Statue of Liberty (Enlightening the World) is being visited now as never before. The New Yorker partially attributes this enthusiastic patriotism to the popularity of Irving Berlin's hymn, God Bless Amrerica. It says the feeling extends, for the first time, to New Yorkers themselves, and that on Labor Day, for example, visitors to Bedloe's Island numbered nearly 2,000. This led us to surmise that here in the Philippines, while we cannot of course make the pilgrimage, we can furbish up our knowledge about the statue. Happily we find an exquisite note about it in Offenbach in America, a collection of American notes by Jacques Offenbach, the humorous, and somewhat naughty, musical composer and concert director of our grandfather's day. Offenbach was popular at the period of the Philadelphia Centennial, 1876. He came over to play his pieces there, rather to direct their rendition, and extended the tour to other cities as far west as Chicago. It was the period of the Bartholdi statues. The Third Republic, now just fallen, had then just been estab lished, and wanted to show gratitude to America. Founder of the first French republic had been Lafayette. The Third Republic commissioned Bartholdi to make a statue of Lafayette, to be given America. Excruciating delays troubled the course of this international courtesy, that Offenbach makes the most of, but at last, long after the musician was back in Europe, Lafayette was erected at the head of Union Square, though we find few New Yorkers in Manila who know it. This is the statue paid for by France and/or the French people. Behind the Liberty stood an association, and Americans' contributions went into it, at which point we turn you over to M. Offenbach himself: France, growing more and more generous, said to herself one fine morning: "What could I do to be agreeable to America on the occasion of her Centennial? Suppose I present her with a statue?" All right for a statue, then. A subscription was opened; Frenchmen and Americans both contributed, and it was unanimously resolved that the statue should represent Liberty enlightening the World. M. Bartholdi-above mentioned-was commissioned to carry out the work. This new statue was [Continued on page 12] general type of the port. For we were looking at Manila, or trying to, not as our home city, but as a barracks town and world port. Believe us, the little color that relieves the sordidly tawdry in this picture is no Rembrandt canvas, but we doubt not a Rembrandt could make it so. Brightest of all the color of the evening was a soldier we encountered in Parafiaque. We are sworn to keep him anonymous, though telling his name would not hurt at all. He just feels that way. He is one of 9 children, 8 boys and their baby sister, who is 16 years old. All 8 boys enlisted last year in the army, on the same day. As far as ever we heard, the records have no parallel to this. The father is still living, still in fact quite young, and employed in his profession as an engineer. The mother will be 41 in October. Our friend is the oldest son, 23. The brothers include, of course, 2 pairs of twins. They'are in Panama. Our friend and a brother are here near Manila, another is at Stotsenberg, and another at Honolulu. It is a very old American family, even with Indian blood, well bred, well-to-do, owning its own home and all that, with traditions of professional education. Of what state? Find it out yourself. This little adventure was the top of the evening. We will say that the state was in the original union, and that a number of ancestors helped put it there, while others helped keep the Union together under Lincoln. Our friend said, "America wants men, doesn't she? Well..." Goodnight. Don't let these spots get you down. We saw some where the boys brought nice-looking girls with them for dinner or late supper and so had partners who would neither fleece them nor let them down in their steps. But these boys knew all the other places, too. Discretion is no part of valor.-W. R. 7he American Chamber of Commerce Journal t<'('fMa s, 1941 9

American Chamber of Commerce of the Philippines DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. 11eadington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary ALTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen MEMBERSHIP COMMITTEE (E. D. Gundelfinger) R. D. Standish T. R. Worthen Geo. Bissinger LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman H. B. Pond B. S. Ohnick J. H. Alley E. E. Selph E. A. Perkins F. H. Noble BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E Byron Ford J. W. McFerran FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman G. Ivory J. M. Crawford M. S. Kestler B. Fairchild MANUFACTURING COMMITTEE M. S. Kestler, Chairman (Coconut Oil) G. T. Herrmann (Copra & Des. Coco.) Alexander Frieder (Tobacco) E. C. Holbrook (Steel, metal) H. P. Strickler (Cordage) F. H. Hale (Shoes, leather, rattan) P. J. Walowit (Embroideries) S. M. Jones (Sugar) J. L. Headington (Buttons) ENTERTAINMENT COMMITTEE D. M. Cameron, Chairman E. L. Kincaid PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington Wm. Burrell B. H. Silen H. A. Linn SHIPPING COMMITTEE W. T. Goodwin, Chairman G. P. Bradford F. H. Myers J. C. Littig C. V. Morton HEMP & COCONUT COMMITTEE H. P. Strickler, Chairman N. H. Duckworth H. Dean Hellis J. H. Alley J. D. Conrad too, if it were made, are on America's duty-free list. Copra, the living of 1/4 the country's population, is dutyfree in America and, as is abaca, throughout the world, abaca being the means of living of /8 the population. Abaca and copra also enjoy considerable local markets. If democracy prevails in the Nazi wars, here is a good trade prospect because dairy countries of Europe let copra meal in duty-free along with copra and will want much of it as their dairy herds rehabilitate themselves. The second group of products in this Steintorf table includes pearl buttons, cigars, scrap and filler tobacco, and coconut oil. These pay no duties under the law, but are subject to declining quantity quotas, the decline 5o a year commencing this year. For a number of years, America has tried to bolster the domestic fats and oils market with a high excise tax on most imported oils. This tax on Philippine coconut oil is 3 cents gold per pound (including the oil-content of copra). Proceeds of the tax come to the Philippines and together with other excises so collected and returned make up 35% to 40% of the Commonwealth's general funds. It seems to us that the American tax on imported oils may soon be a subject of further study by congress, but we would not really know about that-so very much | hinges on the duration of the Nazi wars. It is to be borne in mind that coconut oil undergoes annual quan- tity reductions in the American market and pays the 312 cent tax at the same time. Producers in this group generally, could really pray for early conquest of fascism. The total here is P25,550,254 for 1939. The third Steintorf grouping lists the Philippine products sold in the United States that commencing this year pay fractions of the existing American duties on such imports, 5% this year, 10% next year, up to 25% in 1945 and the first half of 1946. It is in this group that the government might make its closest studies, excepting forest products; there is no question but that with due adjustments, including lesser taxes on products for which markets are found abroad, Philippine forests could support more families than they do now. This brings us to what we think the right viewpoint toward our sugar exports to the United States. Sugar falls in Steintorf's third group, where it is the largest item by far, the total for that group running to P129,942,160 in 1939, bringing the value of all 1939 Philippine exports to the United States to P184,263,050, excluding gold. In the boxed-in table appear the duties, of consequence, that third-group exports to the United States will pay this year. They are in gold, or dollar, values. Peanut exports, if as good as in 1939, will pay $14,000. Such payments, many countries have found, can Be washed out by upping production per acre and so reducing costs. But sugar will pay $1,800,000 and is on a fixed quota that rules out offsetting the duty by upping the production. But is this ruled out altogether? Could not allocations be amalgamated, and large areas of cane lands be put to other crops, such as rice and other food crops, or peanuts on sandy soils, or perhaps soybeans where soil and rainfall invite them, and cultivation intensified on areas still left to cane, so that costs per picul would fall? Next year, sugar will have to pay $3,600,000 to enjoy the American market, and the next year, $5,400,000, if the full duty remains 1.875 cents gold per pound. This is a crucial problem. The right viewpoint toward it is, the number of families cane supports and the value in commerce of the proceeds of sales in the The American Chamber of Commerce Journal Febriuar?, 194 BUCKING THE NEW PRODUCTS DUTIES On the page opposite this we publish 2 tables from the hand of Paul Steintorf, the American Trade Commissioner. The column table lists Philippine exports to the United States in 1939 in their relation to the Kocialkowski-Tydings act of August 6, 1939, thus separating them into 3 groups. The first group totals a value of P28,770,636 and includes duty-free products only. Abaca and other fibers are duty-free. In minerals, chromite and copper are duty-free. Gums and resins are dutyfree; also logs and lumber, hides and derris root. Rice domestically consumed is the Philippines' largest crop, employing the largest group of farmers. Next, fortunately, are the crops above listed. Timber covers the largest area in the Philippines, and the logs, lumber, fibers (rattans and the like) gums and resins, pulp 10

United States. The families employed in farming cane must live, somehow, and the business the revenue from sales produces is highly taxable. It is possible, if not quite probable, that a subsidy would be the cheapest and most practical economy respecting sugar for the American market. Since it is reckoned that cane supports more than 2 million persons, no precedent in modern marketing would be violated in arranging minimum anld adjustable subsidies to keep it going. If subsidies ought not be separated from control, lesser acreage and perhaps fewer mills can produce the sugar and a lot of fields now in cane can be turned to use for other crops. Also, anent this general subject of agriculture, is it now time to make rice a duty-free import and bring local markets to world levels? Or will practical con siderations permit it? We have not made up our mind, further of course than to know that most Philippine rice growers grow rice as a bread supply for their own families, and not to sell; if they have any interest at all in the market price, it is in a low price, since they will be in the market only as buyers and never as sellers. But to think such an adjustment can be made, is to think of human institutions as ideal, which they never are. For all we know, in the field of practical legislation there may be many barriers in the way of giving the people bread at lower prices. What then is the alternative? Barring fortuitous oil discoveries, the alternative is more industry; to preserve established industries, and to encourage new industry wherever it turns up. We perceive signs that this will be the trend. EXPORTS TO UNITED STATES IN 1939 How the Kocialkowski-Tydings Act Affects P. I. Exports to America Basic U.S. Rate Export Duty, 1941 Probable Tax (U.S. $) (U.S. $) Exports of goods on free list Abaca................ Other fibres........... Chromite............. Copper............... Copra................ Derris root, crude..... Hides................. Crucd rubber.......... Logs................. Lumber and timber... Gum copal and elemi.. Sub total......... Subject to quota and exempt from export taxes Buttons, pearl and shell Cigars................ Coconut oil........... Scrap and filler tobacco Sub total......... Subject to export taxes Sugar................ Embroideries.......... Slide fasteners........ Manganese ore........ Wicker furniture...... P 8,506,107 92,172 1,652,743 946,473 15,060,132 50,713 49,940 372,621 40,694 1,701,341 297,700 P 28,770,636 P 540,622 5,703,609 16,820,688 2,485,335 P 25,550,254 P 99,296,919 10,695,123 266,933 265,931 176,410 1. 2. 3. 4. 5. 6. 7. 8. Sugar................... Embroideries (Cotton) *... Canned Pineapple........ Desiccated Coconut...... Copra Cake or Meal...... Cordage................. Canned Tuna............ Peanuts (unshelled)...... 1.8754 a lb. 90%0 ad val. 1-1/2~ a lb. 3-1/20 a lb. 3/10 of 14 a lb. 20% ad valorem 45% ad valorem 4-1/20 a lb..09375~ a lb. 4.5% ad valorem.075~ a lb..175d a lb..00015~ a lb. 1%o ad valorem 2.25% ad valorem.2250 a lb. $1,800,000 225,000 23,000 159,000 3,000 4,000 14,000 (*) Taxed only on value added by embroidery. Wooden furniture...... Canned tuna.......... Canned pineapple...... Peanuts.............. Desiccated coconut.... Glycerine............. Vegetable lard........ Leaf tobacco.......... Copra cake and meal.. Vegetable butter...... Cordage.............. H ats................. Lead................. Others................ Sub total......... Total exports to United S t a t e s (excluding gold)............. 57,048 359,370 3,415,809 731,464 8,802,568 341,712 64,118 442,186 1,968,855 39,127 1,217,241 42,565 52,925 1,705,856 P129,942,160 P184,263,050 American Chamber Annual Meeting At the Annual Meeting of the Chamber of Commerce, Friday afternoon, January 31, 1941, S. F. Gaches, N. H. Duckworth and R. E. Cecil were elected to the Board for the three-year term; H. Dean Hellis for the two-year term and Secretary Carl G. Clifford for the one-year term. C. M. Hoskins, G. M. Ivory, E. Byron Ford and A. P. Ames were elected Alternate Directors whose terms are one year. Board Members whose terms have not expired are P. A. Meyer, J. L. Headington, J. C. Rockwell, and E. D. Some of the other Libby Juices are Pineapple Peach Pear Grapefruit Orange Apricot I Concord Grape Libby's Juices are Better Ask for Libby's?'i'l American Chamber of Commerce Journal ', bru ary,.19.41 11

Gundelfinger. When the Board met to organize, Mr. Gaches was re-elected for a third term in the Presidency and Director E. D. Gundelfinger was re-elected Vice-President. Director Cecil was re-elected Treasurer. President Gaches made the usual brief report of activities to the General Meeting. He said that the traditional policy of the American Chamber of Commerce of the Philippines of cooperating with Philippine merchants and the Commonwealth would be continued, the Chamber dedicating its efforts to assist in every way possible the closer economic relation between the United States and the Philippines. Patriotism on Pilgrimage Continued from page 9 -1 not subjected to all the mishaps of its predecessor, Lafayette; it was finished without trouble, and the sculptor then went over to select a proper site for his Liberty enlightening the World. A parenthesis: I don't exactly understand the choice of this subject. The New World is said to possess all the liberties, and consequently needs no further enlightening. I close the parenthesis. After long examination, M. Bartholdi found at last the desired spot: a magnificent position; a natural pedestal rising from the waters-in short, Bedloe's Island. "Here it shall stand!" he exclaimed. He loses no time, hires workmen, and takes them to the island to dig the foundations. While his men were working, the artist was contemplating with emotion the rapidly deepening excavation, beholding in his imagination, and already standing there, the magnificent monument with which his name was to be eternally connected. Suddenly he felt a hand touching him on the shoulder. The sculptor looks around, and finds himself in presence of a policeman. "What are you doing there?" the policeman graciously asks. "I am digging the foundations for Liberty enlightening the World." "And who has given you permission to dig this hole?" "Why, it is —" "You don't know who?" "Excuse me, sir, it is America herself! America who has given me an order for a statue, and I was looking for a suitable spot for the erection of the monument; this one is excellent." "This is all very interesting; but notwithstanding all the liberty that prevails in America, you must learn, sir, that you have no right to dig syuch a formidable hole without permission; you will please, therefore, follow me to the Mayor." The laborers, who had stopped work at the sight of the policeman, had already put on their coats, and were about leaving the ground. "Don't go," shouted the sculptor, in despair; "I shall be back with the authorization in five minutes." Five minutes! The artist had not foreseen one thing, nay, several things. To build on public property without permission is as much an impossibility in the United States as anywvhere else. The Mayor could not take the responsibility upon himself; so he convoked the mIunicipal council. The latter thought the subject too important to be decided without consulting the Governor. The Governor could do nothing without consulting the President of the Republic; the latter could only carry out the decisions of the House of Representatives, which must themselves be approved by the Senate. Why not do for Liberty enlightening the World what was done for the quarantine? Build an island on piles! "Paints for every Purpose" General Paint answers every requirement and defies all tropical elements. Visit our attractive display room in the Port Area. Always parking space. 0 GENERAL] PAINT CORPORATION 13th Street & Boston Port Area Manila L: I I ~d i, I ~' w 7 ( i /I/11 12 The American Chamber of Commerce Journal February, 19l41

Nepa Girls' Arcade Store The Nepa Cooperative Exchange has been opened at 125 Crystal Arcade by the Y. W. N. C., Young Women's Nepa Chapter. Nepa means, National Economic Protectionism Association and Nepa enjoys the Commonwealth's patronage because its declared purpose is to foster use and sale of Philippine proIducts. Visiting the Cooperative Exchange, we found it in the charge of |a most capable young woman, Miss Tina Araneta, with a businesslike approach to her responsibilities as Y. W. N.C.'s secretary-treasurer. The girls have got together their own capital for this business, essentially that of a retail store; but the Commonwealth loans them some help. Many products are exhibited, but those that don't move after a month's trial will be dropped, Miss Araneta told us. An Eliza!de whisky was one thing we noted, a Manila product from imported Scotch malt. So it was advertised. A good line, we thought, were Baguio hand-loomed luncheon sets, of stout cotton and in bright colors of tasteful design. There were also embroidered pifia dinner and luncheon sets, not yet, we dare say, available in quantity. The best line, to our way of thinking, was that of Manila Hemp Art Products, factory ness basis and sales in Hawaii and the United States go up all the time. The factory is at Legaspi, the material is Manila hemp, and the factory has American supervision. Sales distribution is arranged for in the American market; there is a stock kept up, out of which orders are quickly filled. In short, here is business-like manufacturing. It is going places, we hazard. Manila hemp of the fine white grades is a remarkable fabric material. This factory will no doubt find many uses for it. Sinamay is a cur[Continued on page 24] made and so well established that it has been exhibited at the Philippines Pavilion at Treasure Island, San Francisco. This is headed up by Bert Silen; it is on a practical busi LL THE IMP OF DESTRUCTION Fire and War are twin brothers begotten by the same evil genius Their toll of human life and property is without beginning and without end. They are a nasty, feelingless pair, these two imps, and must ever be held in check, lest they overwhelm mankind. Though many serious attempts have been made down through the ages to exterminate these evil bedfellows, the best attained thus far, is only a remedy and not a sure cure. This remedy is fire insurance coverage, in all its forms. A compromise at best, is fire insurance. Nontheless, it is the only device known which will protect property owners from total impoverishment. It's a clever scheme, this pooling of premiums to compensate particular persons for their individual losses. It's a tribute to man's fertile brain. Why not join this great family of insured? A Filipinas representative will gladly assist you. Call or write today. I tli iN 72 anies ti-at duat-a 11!iCr 9uiald ii?! gH ty:::- XMANHATTAN shirts... COOPER'S underwear... JOHNSTON-MURPHY shoes... HICK OCK belts and | ji| suspenders... HOLEPROOF hosiery HAMILTON -BROWN 109 ESCOLTA MANILA, P. I. IA The American Chamber of Commerce Journal I'ctruary, 1941 13

, I p A r 0 The Use of Jackbits Has Doubled Each Year Jackbits reduce the cost of drilling rock the world over. An ever increasing number of mining companies and contractors are using them exclusively. This is conclusive evidence of their general acceptance. Time and time again, where the cost of fitted steel versus Jackbits has been thoroughly studied, it has been proved that Jackbits cut drilling costs 10 to 40%. Ingersoll-Rand is prepared to cooperate with you in the making of a detailed analysis of your drilling costs, so that you may know what Jackbits would save for you. One of our experienced rock drill men is at your service for such an investigation. Write for our new Jackbit Booklet No. 2304-B and get the complete story. Rock Drills, Sharpeners, Air Compressors, Vacuum Pumps, Diesel Engines, Pumps, Scraper Hoists, Pneumatic Tools, etc.

First Gold Dredging In Masbate Veteran Masbate Mining Man Paul A. Schwab recounts his experience as dredge master... the old salting game...and the weird odyssey of shift boss and an engine. I was working as a machine hand in the shipyard of the Risdon Iron Works in San Francisco. In the early part of the year 1905 the company got a contract for 2 31/2-foot bucket dredges to be built and shipped to the Philippines. The first of these dredges was finished and shipped to Rio Guinobatan, Masbate, where Kimball Brothers assembled it on the banks of the Lanang river and put it into operation. While work went forward on the second one, J. L. Brobst, who was inspecting the work, and was later the master of this dredge in the Islands, asked me to sign up as the engineer on a 3-year contract at $125 a month. At that time, $125 was good wages. So on June 5 I left San Francisco by train for Vancouver, where I boarded the Emprtess of Japan (the old one, not the later palatial one) for Hongkong. I will never forget the Fourth of July I spent in Hongkong that year, for it was hot as blazes; but in a day or two I got away to Manila on the ss Taming, whose skipper was Captain Outerbridge. What a trip! What a tub! We ran into a typhoon and had to keep to our cabins for 24 hours while the ship rode it out. Archie Gray met me at Manila, a son of the president of the company, and we put up at the oldtime Bay View Hotel until, within a few days, I left Manila for Masbate on the old wooden cockleshell called the Asunci6n. This trip took 42 hours, but the Vizcaya makes the run today in 24. Disembarking at Aroroy, a town then comprising about a dozen thatch huts, shacks as we call them, I hired i boatman to take my baggage up the Guinobatan in a barota, a shallow dugout, about 6 miles to the dredge camp. I found Brobst at the camp; also G. M. Willey, the carpenter, and Dave Dunlap, an engineer. A little later, Herman Clump, John Gimball, and Jess Griswell came in from Manila to help with the construction. They had all been hired in California. Later, Giff Jones joined the force as bookkeeper and paymaster. We were all invited to spend Christmas at San Augustin, a small town at the head of the bay. Only Dunlap and myself The American Chamber of Com imerce Journal February, 19., Skeleton of two dreams of wealth. The steam engine is from the old Lanang dredge and the two stamp batteries were both for a gold mine in Masbate. They were combined to end in their present, if not ultimate, resting place. cared to go, but we two made for it down the river in a barota, which presently capsized in the current and dumped us midstream in our glad rags. We had a quart of whisky with us. I was alarmed about it. As soon as I hit the water and came up again, I yelled to Dave whether he had the bottle. He was too deep in the water to answer, but he held the bottle up so I could see it and know that everything was all right. There was plenty of food at our host's in San Augustin. The dance started soon after we arrived, and lasted until morning. Dave and I kept flasks of native gin passing round, and before morning each of the 5 musicians in the little orchestra was playing a different tune. Everyone at the party had a grand time. In the early part of 1906 the dredge was ready to operate. We dredged up the river for about a mile, which took nearly 6 months. It never paid, because where we had to assemble the dredge the pay wasn't too good; and by the time we had dredged up to where the pay dirt really was, we could only dig 12 feet deep and couldn't get down to bedrock: the digging cable had broken and had been spliced so many times that it was too short; there was no new one, and no more money. Brobst, as dredge master left in charge when W. S. Gray, president of the Oriental & Masbate Gold Mining Company left the Islands to go back to California, left camp for Manila with the clean-up to send down supplies. A month passed. Nothing happening, especially no supplies arriving at camp, I followed Brobst to Manila and went to the La Palma de Mallorca, on calle Real, in the walled city, the Spanish hotel (still at the same old stand) that was general headquarters for mining men of the Philippines at that period. Brobst was in his room, and not himself. When he could, he asked me whether I had brought up any bullion. When I said no, he rejoined he would have to beat the hell out of me for not bringing some. I told him that if that was the way he felt about it, to hop to it; but he was so unsteady on his pins that he had to abandon the project and flop back into bed. He said sleepily, before dropping off again, that he knew we would be all right at camp because we could live off the country. And that was the last I saw of him. Later he went back to Masbate from Manila and located some copper claims, in the central portion of the island, where he struck a paisano with his fist, and killed him-the claim being that the man had a bad heart. Jim was jailed 15

at Masbate for this, but the kindly authorities granted him liberty under guard of a policeman. He tanked up at once, of course, beat up his guard, and landed back in the hoosegow for keeps-until he could be taken to Manila and sent back to San Francisco, and the last I heard of him he was somewhere down in Mexico. Well, when this Gray dredge shut down we were all 3 months behind with our pay. I got a job on the Kimballs' dredge on the Lanang riverthe first dredge we had built at the Risdon works. Fred Kimball was the manager here, Guy Kimball was the superintendent, Dr. Chamberlin was the camp doctor, Morris Murphy was dredge master, and Tom Kelly, Ralph Powers and myself were shift bosses. Once when Murphy and I were on shift the river rose after very heavy rains, and we could neither leave the dredge nor get any food from shore; for 2 days we lived on the dried fish and rice we had aboard for the workmen of the crew... not so good. After 6 months here, the pay question began to look serious. I called for my time and they had to pay me off with borrowed money; and all the men who stayed on got stung for their pay. About that time, Dave Dunlap and I had a wire from Giff A PROTECT THE ENGINES AGAINST WEAR AND BREAKDOW NS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS 9 Jones to come to Cebu and work on the railroad-but that is another story. After we pulled out, Brobst came into the camp one day, and got into a fight with Clump and Gimball that left him with 3 broken ribs and laid him up a while. Judge Frank B. Ingersoll, of Ma. nila, sold the dredge and it was shipped to Paracale. We were all paid off in full, thanks to him, and in 1909 I was dredge master on the same outfit for Ingersoll and McDonough for a short time. The dredge couldn't dig very deep, and' with 15 feet of overburden to remove it was making no money, so it didn't run very long in that grdund. But I do recall that in the month of October we had a very bad typhoon, 54 houses in Paracale were blown down. Dudley, on shift, came to my house about midnight to report that the storm was blowing the tin roof off the dredge. I told him not to worry about that, half the roof from my house was already gone, so just to go back to the dredge and stand by until morning; which he did, and next morning, the blow being over, Dunlap, who had come up from Cebu to work for me, Kelly, Greenly and myself had everything shipshape for the afternoon shift. I never knew what finally became of that dredge, as I left Paracale November 11, 1909, and have never gone back since. I believe that during the same typhoon, the Kimballs' dredge on the Lanang river, where the water got very high, pulled the tree to which the head line was secured, piled up on the tailings pile and broke up-the finish of the first dredge imported to Masbate. The Kimballs dismantled it, and some time later I shipped it to Manila. Where it went from there I never knew. (Is this the Tambis dredge, still in operation in Surigao?-Ed.). The reason they thought they had pay gravel on the Guinobatan was that while they were testing the ground the claim owners were having gold panned out of the Lanang and using this gold to salt the test holes on the Guinobatan. Several of the oldtimers had a hand in this; as they have since all gone over Jordan, never to return, there is no point in details, names especially. Few men are left who were in the original crews of the Risdon dredges in Masbate. No one seems to know what became of W. S. Gray and his ALWAYS CHOOSE DE LAVAL PURIFIERS THEY GIVE THE HIGHEST DEGREE OF SEPARATING EFFICIENCY Sole Agents KOPPEL (PHILIPPINES) INCORPORATED ILOILO MANILA CEBU 16 The American Chamber of Commerce Journt February, 1941

son Archie after they left Manila and went back to California. Fred and Guy Kimball died in Boston. Tom Kelly, Ralph Powers, Morris Murphy, and Dr. Chamberlin all left the Islands many years ago and went back to America. I have already said that I last heard of Brobst as being in Mexico. Dave Dunlap went to Honolulu; I had one letter from him, then no more. Giff Jones and G. M. Willey died years ago. Clump's body was found floating in a river; he had fallen off his horse, hit his head on a rock, and drowned. Dudley is living in Iloilo, though I have not seen him for many years. Not long ago I saw a picture of the engine that was on the dredge we built on the Guinobatan, I think it was in the 1940 P. M. Year Book. I could readily identify it, as it was of the perpendicular type with high and low pressure cylinders-the one engine that ran all the machinery on the dredge: the digging ladder, revolving screen and stacking ladder, and a steam hoist that raised the bucket ladder. With this engine I ran many an 8-hour shift without throwing the clutch out; and again, some days I would no sooner have something or other repaired until something else went wrong, but that's all in the game. I am told that Charlie Cavender, Johnnie Moison and John Muller use the engine to run their stamp mill somewhere on the headwaters of the Malaguit river. Such is the story of the Risdon Iron Works dredges from San Francisco, set up in Masbate in 1905. Lower Case Immortality portunity to reproduce from Time of December 9 a picture of the inventordiscoverer Rudolf Diesel. We say discoverer because, like Edison when he turned out the phonograph, Diesel was working toward something else when the principle for the diesel evolved, to his surprise, under his hand; namely, the enormous heat generated by compression of gases. Diesel compressed air until its temperature rose to about 1000~ F., and made an engine that would suck fuel into a chamber of such air. When the engine promptly blew up, Diesel discovered that air so compressed would actually ignite fuel', and a practical engine was then, in 1893, only a matter of better construction with better material. Time complains that Diesel is now often written lowercase; and we retort, watt of it?would not Watt himself, or Ampere perhaps, be complimented? It's established English orthography. As long as you're upper-case, you're only a name hardly to survive. Promoted to lover-case, you're among the immortals. Will someone hand us a stillson wrench? For we would tighten this point. Rudolf Diesel Diesel engines mean so much in Philippine industry that we seize op I ENGINEERING EQUIPOMRENT AND (INCORPORATED) SUPPLY CO. Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal DEALERS IN: 6kiu j lel. 5-67-76 Office Tel. 2-41-41 DUPLEX AND TRIPLEX PUMPS SHOVELS, BUCKETS, CRANES MINE WOOD TANKS STEEL TANKS AGITATORS, THICKENERS ROCK DRILLS PRECIPITATION EQUIPMENT MERRILLITE ZINC DUST PUNCHES, SHEARS WOODWORKING MACHINES ROTARY FILTERS MARINE DIESELS EXPLOSIVES POWER BOATS OUTBOARD MOTORS WELDING RODS MELTING & TILTING FURNACES HACKSAW MACHINES TROLLEYS DIESEL LOCOMOTIVES DRILLING MACHINES CONVEYORS RECORDING INSTRUMENTS ELECTRIC TOOLS ELECTRIC MOTORS BALL MILLS CONTOUR STEEL CUTTING MACHINES AIR CONDITIONING EQUIPT. MECHANICAL PACKING LEATHER BELTING VEE-BELTS BRONZE BUSHINGS CARBIDE LAMPS PNEUMATIC TOOLS TUBULAR BOILERS ALLUMINIUM CASTINGS SURVEYING EQUIPMENT LOGGING EQUIPMENT MINE HOISTS STATIONARY DIESELS BLASTING SUPPLIES PROPELLERS ROAD ROLLERS WELDING EQUIPMENT WATER, OIL & GAS METERS VALVES OF ALL KINDS SHAPERS, LATHES BELT HOOKS MAGNETIC SEPARATORS SAWS, SAWTEETH THERMOM ETERS GRINDERS GENERATORS OIL BURNER EQUIPMENT CABLE CLIPS REFRIGERATION EQUIPT. ELECTRIC WELDERS TRUCK AND MINE SCALES CENTRIFUGAL PUMPS CONCENTRATING TABLES FLOTATION CELLS MINERAL JIGS VACUUM PUMPS FIRE FIGHTING EQUIPMENT BLOWERS, DRILL PRESS COM PRESSORS CIRCULAR SAWMILLS PILE HAMMERS GASOLINE ENGINES NAUTICAL INSTRUMENTS STUFFING BOXES TURBINE PUMPS ELECTRIC HOISTS SHEET METAL TOOLS BABBITT METALS DRILL STEEL CHAINS, WINCHES CRUSHERS, SCREENS MINING PICKS MINING SHOVELS CONCRETE VIBRATORS ELECTRICAL APPARATUS DREDGES OF ALL KINDS LOGGING BLOCKS CONCRETE MACHINERY HOISTS FOR DUMP BODIES I /The American Chambetr of Commerce Journal *c)ruan, 1 ).!, 17

I Judge Lionel Hargis's Philippine Mining Interest We find we have never known enough about Judge Lionel Hargis, whose mining interests turn up as, to us, quite surprising. This is due to the fact that Judge Hargis's career has been in the south, since we have known him, and his mining speculations have been in Surigao. For ourselves and for our readers, we have looked him up a bit. He comes from Ukiah, California, and came to the Philippines in May 1899, where he met James Norton, who had come to Manila with the 1st California U. S. Volunteer Infantry. When Judge Hargis met Norton, Norton was employed in the oldtime Captain of the Port's office. Judge Hargis settled in Manila to practice law. Master P Padlocks These men were soon associated in business. They ripened their acquaintanceship at the mess then operated for Americans on calle San Fernando, where they took their meals. Judge Hargis went back to San Francisco in 1915 and on January 1, 1916, opened a law office there. World War I involving the United States in 1917, he spent 2 years in Europe with the Red Cross, and in1 1919 returned to San Francisco and reopened his law office. Prospects that American corporations would be granted lands in Mindanao for large rubber plantations, under Governor General Leonard Wood, brought him back here in 1927. These prospects played out, and he stayed in Zamboanga to practice law. This occupied him until 1930, when he removed to Cebu and formed a law partnership with Don McVean that lasted out another 3 years. After that, the firm being| amicably dissolved, he practiced independently in Cebu until 1937, when he retired from the bar and began commuting between San Francisco and Manila, his present routine. It was fortunate mining ventures that brought this about. Going through Cebu in 1928 and calling on McVean, McVean had on his desk the approved incorporation papers of the Tambis company, a dredging proposition at Lianga gulf, Surigao. The stock book was already to open, capital P60,000, the dredge and other assets worth about P250,000. Shares were 10 pesos par. Judge Hargis had a 100-peso bill in his wallet, and bought the first 10 shares with it. Later, of course, he put in thousands. Bill Pearson was in charge of the dredge, and still is. Tambis also had claims, that Pearson is now developing. Until Tambis began turning profits into these lode claims, that promise better every day, it paid regular dividends. There's a lot of dredging still to be done, and the hope is that a mill will soon be helping out production. Judge Hargis disclaims all technical knowledge of mining. But his Tambis interest often brought him to visit Surigao, and sometimes to take engineers along with him. Thus in September 1933, A. F. Duggleby of Benguet Consolidated was with him. They had come out of the wilderness on the northeast coast at the town of Placer, where they would have to wait some hours for their boat to take to sea. Here Judge Hargis remembered that he and McVean had an option on some property across the cove from the town, The American Chamber of Comnmerce Journal February, 194o I FOR EXTRA STRENGTH AND EXTRA VALUE MASTER, with its most modern padlock plant in the world, builds tremendous case strength and splendid key security into all its padlocks at exceptionally low cost. Insist on MASTERS. 0 EXCLUSIVE SALES AGENTS AND DISTRIBUTORS TRANS-PACIFIC TRADING COMPANY, INC. Telephone [phone] Cabildo, Intramuros MANILA P. 0. Box 497 18

r ii E and had let it lapse. He asked Duggleby whether he would like to kill time by looking at this property. "Dug" said he would, certainly. Accordingly he did, and when his samples were reported on by the assay office, the option was taken up. Details will be superfluous, the prop-,lrty is now that of the East Mindanao Mining Co., Inc. To date, some.5 definite veins have turned up on it. Again in 1935 Judge Hargis was on one of his Tambis pilgrimages, really exciting hunting outings, with fishing if you liked, when friends at Surigao wanted him to look at a group of 134 claims about 17 kilometers inland, along the highwaysome of the claims abutting the road itself. He looked at this property, finding it rising in a succession of ridges from 100 feet high to maybe 500 feet, heavily wooded and richly watered. There were some surface workings, about which Judge Hargis says he knew next to nothing, and wouldn't believe anything, but the timber was certainly useful in a mining country. So Judge Hargis backed this outfit, too. What is it today? It's Mindanao Mother Lode Mines, Paul A. Meyer, president. You can look up the contemporary data elsewhere in our pages, we say here only that Judge Hargis is the largest single shareholder. No, the rubber that lured Judge Hargis back to this investment field didn't pan out. Or did it? Judge Hargis's early business investment in Manila with the late James Norton dates in 1902. Norton believed California redwood could be sold here, and knew George Hooper, a man in the business at San Francisco. Hooper would stake Norton to a cargo of redwood, if Norton could get the ship and pay the freight. Judge Hargis came in for that chore, and he and Norton were informal co-partners in a lumber importing business. Soon a third partner came in with them, the late highly-esteemed Robert "Bob" Harrison. Already the company was popularized as Norton & Harrison, and with George Hooper's death, about 1910, it was soon incorporated. This is the well known contemporary company, Norton & Harrison, thoroughly substantial and among the leaders as importers of building materials and allied products. The Stock Markets By Ovejero & Hall MANILA-January 15th Notwithstanding numerous yearend holidays, more active conditions have prevailed in the mining share market during the past month. This has been due principally to some reinvestment of final quarter dividends. The M.S.E. average at the close of business today stands at 48.29 off 4.74 as compared with a month ago. The index does not accurately reflect market movements these days, however, as small losses in shares used in computing the averages have been more than offset by advances in such shares as Acoje, Lepanto Consolidat[Continued on page 22] -- __ I~~~ I Overhead is materially cut down by the continuous operation and minimum costs of your Centrifugal Pumps With This In Mind, Insist Upon I For Your Next Installation THE EARNSHAWS DOCKS & HONOLULU IRON WORKS P. 0. Box 282 60-118 Second St., Port Area Bacolod Tel. 2-32-13 Manila, Philippines Cebu Air-conditioning plants have been installed in some deep' mines that make it Plossible to mine to a depth of 10,000 feet. I,' A;iwerican Chamber of Commerce Journal "*"a iar, jq-)^ 19

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1939, complete and for 1940. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. BENGUET CONSOLIDATED SAN MAURICIO MASBATE - Vl ' Y - _.__..L. -.,,k L' I'. — -N.. - _ -- I —: I NORT CAMRINEBAG IOGOLDGWEDG 1FR II!1 IIIIIIIIII llllHllllll H "M ril j R --- - H ----- it! _ tlttJt NORTH CAMARINES BAGUIO GOLD B1G WEDGE H-I-ll IXL MINING CO. IPO CAL HORR I -i -i -1 SUYOC COCO GROVE DEMONSTRATION F 20 The American Chamber of Commerce Jouri.l Frhebruoar Y, I'1

I I ANTAMOK ITOGON UNITED PARACALE r~-. ~ l I i I I I I I, I I I I I i I i 1 I I I i I i~ '~ _ l I. I I, I I i I, l I 1 I " I I I os^:^:^^~~~~~i^:^=q^^^^ 5s^~j~~~~~:i:: I11, I I-K Ril m*':_- - ------- l —r-.4:_-_-__ i W I -I MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAU Antipolo - -l 718 15,837.41 22.06 108,717 -- - -ll I l._The Mining Industry I I II I I I I I I I I I I I I-TabulatedStatistics Antamok Goldfields 16,840.06 P 186,117.66P11.05 19,340.03 P 227.240.83 P11.7, P2,630,544 f 3,105.597.29 T3.000,000?2,7601000 0.01 0.036 Baguio Gold 11,865 195,483.38 16.48 11,770 197,291.40 16.76 2,226,682 1,83,433.34 2,000,000 1,299,00 0.03 0.02 Balatoc 60,993 1,099,873.08 18.03 63,042 1,101,589.66 17.47 13,417,327 12,573,241.37 6,000,000 6,000,000 0.70 0.80 Batong Buhay 2,725.5 75,144.77 27.57 2,705 111,539.40 41.23 270,621 — - - - Benguet Consolidated 39,055 913,568.68 23.39 40,194 962,773.38 23.95 10,990 624 11,391,886.55 12,000,000 12,000,000 0.60 0.85 Benguet Goldfields 2,551 41,290.00 16.19 2,441 32,407.00 13.28 616,855 116,904.00 200,000 200,000 - _ Big Wedge 6,260 180,622.34 28.85 6,854 227,394.76 33.18 2,114,104 1,917,195.24 2,000,000 777.612.10 0.04 0.04 Cal Horr 6,130 117,443.10 19.16 7,662 150,452.88 19.64 1,445,507 1,433,438.26 WHOLLY OWNED BY B.C.M. CO. Capsay 4,223 55,976.89 13.26 4,911 71,688.00 14.60 1,069,835 1,237,825.94 1,000,000 1,000,000 - _ Crown Mines 1,189 21,611.00 18.18 1,218 15,322.00 12.50 135,910 76,694.00 1,000,000 636,000 - Davao Gold - 17,01.00- Demonstration 3,540 45,609.00 12.88 4,196 52,801.00 12.58 499,828 1,258,40735 1,000.000 1,000,000 - - East Mindanao- I 3,7568 62,400.00 - 3,967 1 63,691.89 16.06 t 764,737 688,409.61 1,000,000 920,000 -.01 Gold Creek 616 12409.86 20.15 308 5,400.25 17.53 160,523 119,717.05 1,000,000 700.000 - Ipo Gold 5,570 40,258.58 7.23 6,240 55,655.05 8.92 721,159 1,278,634.76 1,000,000 819,693.70 - 0.025 Itgon 27,459 _ 470,576.81 17.14 27,408. 453,670.58 16.55 5.,370,449 4,575,192.25 2,500,000 2,500,000 0.04 0.04 I. X. L. 12,524 261,655.98 20.89 13,272 249,1283.30 18.77 3,078,779 3,061574.31 1,500,000 1,500,000 0.08 0.09 Layog 952 8,306.78 8.73 633 6,347.28 9.57 126,656 87,747.00 - Macawiwlll 3,273 20,710.88 6.33 2,000 16,000..00.00 357,650 575,095.00 1,600,000 324,938.06 - Mar)aso 1,947 9,087.00 4.67 -- - 27,598.00 1,500,000 429,200 - - Maibate Consolidated 89,831 582,359.52 6.48 108,775 586,372.82 5.39 6,372,308 4,930,919.86 5,000,000 5,000,000 0.02 Malon Mining 1,560 27,294.98 17.48 7.48 1,372 30,237.02 22.04 457,798 127,721.00 - Mindanao Mother Lode 6,150 209,898.22 34.13 7,227 _ 225.229,23 31.16 2,183,328 1,412,374.54 2,000,000 1,130.000 0.01 Mineral Resources 3,284 36,535.31 11.13 2,906 40,014.34 13.77 415,944 139,080.92 2,000,000 1,160,149 - I North Camarines 3,908 94,895.21 24.28 2,837 76,873.69 27.10 1,50,104 1,880,080.36 1,000,000 1,000,000 - Northern Mining 2,432 53,291.54 21.91 2,282 57.430.78 25.17 668,530 550,3282 - - Paracale Gumaus 6,931 200,562.23 28.94 6,159 214,570.33 34.84 1,917,695 1,137,172.59 500,000 500.000 0.045 0.005 Paraeale National 847 20,625.68 24.35 730 23,191.17 31.77 140,087 178,364.84 1,000,000 848,600 - - San Mauricio 16,057 480,749.95 29.94 16,091 470,986.40 29.57 5,988,405 6,547,512.08 2,000,000 2,000.000 0.07 0.135 "t5a Rosa 4.687 91,116.41 19.44 - - 852.857 956,970.31 1,500,000 1,500.000 O - Surigao Consolidated 9,754 215,965.00 22.14 9,988 206,215.00 20.65 2,182,172 1314,566.00 1,200,000 1,022.975 0.04 0.01 Sa Cnnsolidated 7404 184,731.49 24.95 7,420 186,923.58 25.19 2,002,082 1,88,108.72 1,250,000 1,250.000 - 001 anre Island 5,815 163,944.30 28.19.296 179,910.02 3397 1.504,545 I 59 7 - __.I A1n A - - uJme Plaracale,11,288 286,042.62 25.34 11.038 288,364.20 26.12.,265 657 2,911 37 1300000 1.300.000.02 0.04 PLACER Coo r e Grove 319,720 125,203.54 0.39 305.795 104.500.04 0.62 1617465.49 2,017.197.17 1,500,000 1,500.00.01 0.02 Mindanao Mining 18,500 6,804.00 0.37 62.388 38,575.04 0.62 116.448.00 122956.00 - - North Mindanao 24,645 13.030.10 0.53 14.000 3.426.20 0.24 98..19.00 114 517 00 Tanmbis 19.927 10,842.00 0.54 19,927 10,256.00 0.51 120.628.00 113.16400 - StA. Cecilia. —35.316.00, BASE METAL tLerpantto 12,850 261,517.00 20.35 11,400 280.578.03 0.34 2,802.658.24 1,202,248.12 1,750,000 1,050,000 0.03o 0.005 Hliibar 3,560.6 116.482.41 32.71 3,947 147,757.78 - 828,342.00 0.04 0.04 M3nndaon Operation 318.98 8,054.25 25.25 - _ Consolidated Mines _ __ 11.000 1132.000.00 12.00 4.500 54.00000 - 954.971.00 - 2'he American Chamber of Commerce Journal h'hrruar?, 194l 21

The Stock Markets Continued from page 19 Walter Cushing was a Manila visitor from his property in Abra. * * * Weaver A. Solomon has been appointed general superintendent of the Mayon Mining Company property in Paracale. * * * George Newman, of Marsman and Company, has returned to Manila from a visit in the United States. * * * Ben Goodier, now with the U. S. Navy, is engaged in construction work in Cavite. * * * Merle Schrock is setting up a mill on the property he is working in Agusan. * * * H. B. Parfat was a visitor in Manila and Baguio during the holidays. * * * W. de Carbonel is now with the Luzon Stevedoring Company Mining Department. * * * A. M. Dixon, of San Mauricio, was a Manila visitor prior to his departure for the States. * * * Ward Roberts of United Paracale has left for a States vacation. * * * D. McMasters, of San Mauricio, left this month for the United States. * * * G. T. Gerringer has left for Surigao to supervise the installation of a mill on the San Ysidro Mining Company property. * * * Paul Schwab, veteran mining man, visited the Virac property in the Baguio district during the holidays. * * * J. "Patty" Judge and wife have returned to Malaguit after enjoying a short vacation in Manila. * * * Herman Yarras, of Marsman and Company, has returned to Manila after a prolonged visit in the United States. * * * J. H. Needham has been transferred to Batong Bubay and Don Young has been appointed general superintendent of the North Camarines gold mine. * * * ed, Mindanao Mother Lode and Pa. racale Gumaos, none of which go to make up the index. Quite a large portion of the decline in the latter may be attributed to the readjust. ment in price of San Mauricio follow. ing the lowering of the Peg from 50P, where it has been stationary for some considerable time, to 30~, closing sales today being registered at 31-1/2~. Total number of shares traded be. tween December 17th and January 16th amounted to 26,433,330 valued at P1,270,910 as compared with 31,369,371 shares valued at P927,426 (after reducing Bond business included in the previous month's figures). The Short position remains unchanged. The cautious attitude of investors, noted in our last review, continues to be the dominating market factor. Market activity has in the main consisted of selective switching into special situations. While reinvestment demand mentioned above has caused improvements in certain issues, this factor has latterly been offset by small scale necessitous liquidation. In the absence of unforeseen developments, no great change is likely in the near future. A definite change for the better in U. S.-Japanese relations could cause a respectable improvement in the values of leading issues as apprehension over the Oriental situation is a strong restraining influence. NEW YORK-January 15th INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents E. E. E LSEI, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598.U Measured by the Dow Jones Industrial and Rail Averages, the past month has witnessed only minor changes in the general market. Closing averages on December 14th were 132.31 and 27.85, on January 15th the indicators closed at 131.51 and 29.06, while closing highs and lows for the period were respectively 133.59, 128.41, 29.73 and 27.09. This does not tell the whole story, however, as individual shares and groups have registered fairly wide fluctuations. On the constructive side, Railroad Securities, particularly second and third grade bonds, have registered some substantial gains. Also in demand were speculative industrial preferreds with dividend arrearages. Steels registered fractional losses for the period while Automobile issues were weak particularly Chrysler which at its January 15th closing of 68-1/4 is off $9-5/8 over the month. 22 The American Chamber of Commerce Journal February, 1 ',1

i F i1 i II I I I I I i The strength of speculative Rails idlld Industrials preferreds can be accounted for by the belief that these situations will be little affected by Taxation increases. The action of the Motor Group reflects fears that production may be substantially curtailed by defense requirements, and is also suggestive of apprehension concerning possible war involvement. The Steel industry is expected to operate at an extremely high percentage of capacity for a long period to come, thLS the Street feels that increased taxation can probably be absorbed. The path of the prospective investor is not rendered easy by such major imponderables as duration and outcome of the European conflict; also the virtual certainty that Taxation increases will be heavy, according to no less an authority than the President himself. Turning for a moment to actual market happenings, the past month has witnessed the usual December Tax Selling, continued liquidation of Securities for British account, with the largest transactions from this source being done off the market, while the S.E.C. has served a reminder that it does not intend to soft peddle its attitude towards the Utilities. Offsetting these negative factors have been the usual year-end reinvestment demand, plus the virtual assurance that the domestic economy will receive a tree mendous boost from defense expenditures for, apparently, a long time to come. However, any discussion on the outlook for equities sooner or later boils down to future earnings, thus the most important question is, can the profit margin based on continued high Industrial activity be maintained or increased notwithstanding increased taxation and a probable rise in labor costs? In our opinion the technical action of the market inclines to a constructive answer to the latter question at the present time. Examining the price pattern over the past month, we are impressed by the failure of activity to materialize on declines and note increased volume accompanying advances. The market, however, is in secondary ground and moderate fluctuations can occur in this area without activity providing an entirely reliable guide. When the averages closed at 128.41 and 27.09, as mentioned elsewhere, the requirements of a Dow Theory secondary reaction were fulfilled, both as to time consumed and amount retraced. Joint penetration of 138.12 and 30.29 would signal a Bull Market, however, penetration of 128.41 and 27.09 would merely signify some extension of the secondary downtrend. From a primary standpoint the critical points on the downside are 111.84 and 22.14. riff of 4~ leaves it 8~ only. Anaconda and Kennecott won't deal at that price, and they are the big Chilean interests as well as the American. So the proposition is (there's always a way when the presidential must is on the papers): The federal govern-, ment will buy the Chilean copper, pay itself the 4~ tariff, and resell at 120, the domestic market ceiling. This obviates paying 14~ (10b plus 4~ duty) and perhaps setting off an inflationary price boom all along the line. It also keeps the national copper bill down by some $48,000,000 for 1,200,000 tons a year, only 100,000 tons of which need come from Chile. The plan is intricate, an esoteric lesson in modern governments' relations with business. Philippine copper is not affected. Philippine copper concentrates go to Japan; smelted copper could go profitably to America, at 12~ a pound. Copper The American copper situation is extensively reviewed under Business & Finance on pages 75 and 76 of Time of December 9. The political shortcircuiting of the 40 tariff is outlined, keeping the domestic market ceiling at 12~ for the duration if possible. The reason is, America needs some Chilean copper. She may soon need more. It can be delivered at 100, but a ceiling of 12, and a ta High-grading of rich gold ores has had a long and dishonorable history in every gold camp, but here's a new one-a trade journal publishes an offer of a reward of $2,000 for recovery of 124 flasks of stolen quicksilver. War demand has boosted the price of quicksilver to $175 per flask, so this haul was not negligible. Gold production in South Africa is close to 2,000,000 ounces per month, establishing a new high record for this premier gold area. The annual value of the gold output from the Witwatersrand alone is now far greater than that of the entire world in 1930. L CANEC AND LINABESTOS Meet Every Demand Of The Modern Builder For Safe Yet Economical Construction CANEC: A Pure Cane Fibre Structural Insulation Board That Is Termite Proof And That Provides Insulation Against Heat And Sound. LINABESTOS: An Asbestos Cement Wallboard For Indoors Or Out. It Is Practically Everlasting As It Is Fire-Resisting, Weather-Resisting, Termite Proof And Rot:4 Proof. For Sizes and Prices See MAI SMAN TLADINf CCLDOCATICN 975 Boston Street, Port Area MANILA Telephone 2-48-11 -t 7'11T American Chamber of Commerce Journal "*ru Ia,,14p 1941 23

Tungsten finds its principal use in the manufacture of high speed tools, cemented tungsten carbide, stellites, tube filaments, and various chemicals. Fine ground barite has an important use as a heavy medium or mud used in the rotary drilling of oil wells. For this purpose the barite must be ground to minus 325 mesh. An ultra-violet ray solarium is provided for employees of the Bunker Hill & Sullivan mine in Idaho, to furnish sunlight treatment for underground workers, some of whom do not see sunlight for months at a time. It is held that the solarium has done much to cut down sick absentic Nepa Girls' Arcade... - Continued from page 13 ism among the miners. adezv sincE 1S7.... in LITHOGRAPHY 0 PRINTING PAPER BOXES * BOOKBINDING CALENDARS d NOVELTIES rent specialty, a strong hemp cloth fashioned into beach bags and lun. cheon sets with unique designs in fast natural colors. A light whisk. broom is another product, as hygienic as it is useful. Coasters and glass. holders are others. Such novelties and staple requirements are turned out, in fact, as hints from America indicate will find demand. Best of all are luncheon sets in loose (unwoven) hemp, involving a trade secret. These will find nothing else on the market approaching them; they are of course selling fast. Coconut fiber hats at the Exchange also look promising, if taken hold of with ingenuity and persistence. They should include hats for women, and should be kept low-priced. This magazine gladly encourages every effort that adds a peso of wealth to the Philippines or manages to save a peso in industrial costs. Take for example the Manila Hemp Art Products. This company need worry over no prospective American duties; the highest is indeed 45%, but prices of these little novelties can easily be adjusted to it. This is a worthwhile start in precisely the right direction. r CARM E L O & iAUERMANN, INC. TWENTY FIFTY SEVEN AZCARRAGA MANILA, PHILIPPINES 1. Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED '^rtLJ^ s' U LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. -11 l I'l ATLANTIC GULF & PACIFIC COMPANY 24 The Ame,,rican Chamber of Commerce Journa 24 beruaray, 1!4'

Locia L.I~LL'MI s Single Copies: United 3/ 7/.|5 centavros bates: per yeuIl - - cription. ' ///t7 WALTER ROBB ) U.. Editor end mncy, per r cripon Manager February, 1941 VOL Vol. XXI, No. 2 Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things A passing note in the New Yorker gives the most reasonable hypothesis we've heard of, on which to explain Pan American's loss of the Hawiiian Clipper some 3 years ago. It seems there are wind quirks that suddenly break the rhythm at which airplane wings are bucking the stresses of the atmosphere. When that happens, in a few seconds a plane is just a mere lot of scrap. We report further on the work of the Manila women who sew in Mrs. Sayre's unit at the Residence for women in the war zone of Europe, women of England. These women have made and got away through the agency of the Red Cross, 104 baby boxes packed, each one, with 2 cotton flannel blankets, 12 squares, 2 silkwool shirts, 2 bands, 2 washrags, 2 navel pads, 2 pairs bootees, 1 cap, 1 sweater, 12 small safety pins and 6 large ones, the bootees, the cap, and the sweater all hand knitted among the women, who also did the sewing on the other items, and the silkwool shirts purchased downtown. Funds came of 2 musical recitals at the Residence. Thus with no prodigious sacrifice, 104 babies have found wardrobes awaiting their advent into the kind of world the dictators have left us. * * * An interior department agent, one of those innumerable Santos boys of Pampanga, complains to Secretary Rafael R. Alunan that in swearing into office the town officers of Arayat elected December 10, the justice of the peace let them stand during the oath-taking with their right hands raised according to custom, but with fists clenched, that he thinks altogether contrary to custom and in fact a communist gesture. But he is not sure that it is illegal; if it is not, he says, the law ought to be amended so "that instead of raising the right hand as in tLe ordinary way of tak ing an oath, the right hand must be raised in such a way that the fingers are extended and joined, with the back of the hand toward the rear." If we get this, we're not so sure about it. It seems to us that a mite too much enthusiasm could convert such a gesture into a fascist salute, perhaps a veritable heil! and out of the frying pan we'd wind up in the fire. In this dilemma, we suggest use of the Book. Let the candidate rest his hand on an open bible, say at the Sermon on the Mount. It contains the sources of our era, for one thing, and for another, no dictator, communist, fascist or what, will make the sign of salutation to him, and subservience to his ideology that of a citizen resting his hand faithfully on the gentle words of Christ. Quo vadis? * * * Old friends will like to learn the addresses of Mrs. Aletha E. Whipple, 2102 N. E. Davis St., Portland, Ore I WAR NER, BARNES & COMPA LONDON-MANILA-ILOILO-CEBU-BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGERS OF NY, LTD. COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY INSURANCE DEPARTMENT I MINING DEPARTMENT I SHIPPING DEPARTMENT Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT Sugar Machinery, Diesel Engines and Mining Machinery Agents for: Hongkong & Whampoa Dock Co., Ltd.. Hongkong. General Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines, Inc. I X L Mining Company Masbate Consolidated Mining Company North Camarines Gold Mining Company Paracale Gold Mining Company Paracale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUILDING, Plaza Cervantes. Agents for: Nippon Yusen Kaisya Cunard White Star, Ltd. Bibby Line Special Representatives of BRITISH OVERSEAS AIRWAYS CORPORATION AGRICULTURAL DEPARTMENT All Classes of Fertilizers IMPORT DEPARTMENT Sperry Flour Surar Bags ,-31111111LlllLll-111111111 ----~ —.c Amelerican Chamber of Commerce Journal i'ri,,i rr, 1941 25

gon, and of Clinton D. Whipple, Coulee City, at the Grand Coulee Dam. The Whipples were in the Philippine teaching service many years and scores of oldtimers will recall them and their commendable work. Whipple, as the division superintendent of Nueva Ecija, was our first boss in the Islands and kept Charles Magee, an assistant Director of Education, from giving us the sack when we differed from him, in our innocence of the rules of conformity of the service, as to underlying principles in vocational education. Mrs. Whipple's forte was highschool English. As to the Philippines, she writes: "I still believe the destiny of the Philippines is bound up with the destiny of the United States. The Philippines became the responsibility of the United States seemingly by chance. Such things do not happen by chance. There is a definite plan -a definite pattern, and the Great Pattern-Maker never makes errorsthere are no erasures in His manuscripts." Neatly said. * *:: There is sound opinion that the Philippines are good goat country, but the people give it little attention. Herds of goats might graze coconut groves to the advantage of the soil; I =k they would crop away the undergrowth and no doubt increase the yield of nuts. Besides they could run in the mountains, kid skins to the value of millions of dollars could be an important annual export. Still the people take little interest, and perhaps will never do so until some buyer initiates a market. It is one of the typical stalemates: no production without a market, and no market without production. For all that the Philippines know about goats sums up in Mischa Auer's familiar phrase, they stink. No one stops to think that the fine kid leather in their f iner shoes was once goat skin stinking the very hatches off a greasy Atlantic-Mediterranean freighter bound for Brooklyn. The Mohammedan world is not so dumb, nor the world of the Greek Orthodox church. They would perish without goats to give them commerce, and provide valuta. Here are a few of the leading hide & skin ports: Mogador, Benghazi, Aden, Mombasa, Berbera, Abruzzi, Naples, Athens, Jaffa, Aleppo, Batum, Baku, Samsun, Trebizond, Erzerum, Marrakesh, Oran, Casablanca, Tripoli, Algiers, Sardinia, Bari, Delhi, Amritsar, Bombay, Calcutta, Constantinople, Kazan, Tashkent, Daka, and a lot more. Some of these cities are famous. Amritsar, in India, is the holy city of the Sikhs, site of their golden temple. Daka is the Dakar of French East Africa where General De Gaulle failed to win the colony over to the British side. Other hide & skin cities in Russia are Riga and Nishny-Novgorod, the latter the celebrated center of old Russia's annual fair. Horse fronts, excluding the skin of the hind quarters, calfskins and cowhides were plentiful at Riga and Nishny-Novgorod in the old days. Caspian and Black Sea ports and ports on the Persian Gulf, also Baku, and Batum, more vitally important for their oil, furnished Persian lamb, a fur hide, as well as goatskins and sheepskins. Djibuti trades heavily in goatskins and sheepskins. Each desert and mountain district has its favorite methods of preparing the skins for sale. Climate, soil and even verdure seem to affect the texture of animal skins. Moroccan skins is a general classification for the Mediterranean coast of northern Africa. This breaks down in Mogadors, Casablancas, Marrakeshes, and so on. The general desert practice here seems to be to dry the skins and treat them with a mixture of A GOOD IDEA-DO IT RIGHT AWAY! PEOPLES BANK AND TRUST COMPANY 605 DASMARIiSAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac. 26 The American Chamber of Commerce JourlzJ F'ebruariy, 1941 I

salty clay and cameldung. Around the Adriatic the skins are cased; that is, they are not slit down the belly but are pulled off whole and spread with sticks like a butcher spreads a carcass. The sellers try to make the sticks as heavy as possible, since they are paid by weight of the cargo. Buyers try to make the tare on account of the sticks as much as possible. Haggling is interminable, a part of the joy of market day. Baku is one of the most picturesque ports, where pagan pastoral chiefs appear with costumes and retinues that would rival Solomon's preparations for his reception of the Queen of Sheba, and in their trains will be seen Circassian girls of rarest modesty and beauty, their masters sw aggering about with cutlasses swinging at their thighs and silverand gold-mounted six-guns at their belts. Baku, oily, skinny, corrupt, and corruptible, is unfailingly entertaining; and the buying over and the night set in, at many of these ancient places, older than the history of caravans, the scenes and revelry are pages from the Arabian Nights. Even nowadays, the region embraced in the list of these ports yields $50,000,000 worth of hides & skins a year, but does not yield enough for America's demands over those of Europe. A nice little Nazi squeeze would be to cartel the business and make America beg for kid skins for her slippers on her democratic knees and in her new nylon stockings. When a friend told us an oldtimer had a thriving business in sea-shell novelties at 1036 Florida, we went to see it. The oldtimer proved to be the well known mining prospector, W. S. Boston. We'll say a little about him first. Thoroughness and honesty characterized his prospecting; it was his ill luck, during many years in the mountains, to report to one client after another that he did not have a mine; his advice taken, he saved clients the wasting of funds, for no prospect he had turned down ever turned out contrary to his report. Boston has a book in manuscript, and it sounds swell: Jungle Gold. He talks straight from the shoulder. His keen pioneer's eyes fear nothing. He came to the Philippines a soldier in the 27th U. S. Volunteer Infantry late in 1899, aboard the transport W((rren. His outfit's first line duty was at Novaliches, "the worst malarial camp in the country," where half the 120 men were down sick inside 3 months. Campaigning, Boston carried a gold pan if he carried nothing else. In San Jose, Bulakan, he discovered platinum outcrops, and the 7'ihe American Chamber of Commerce Journal \ 'c hrarI, 19. I Bureau of Science had to send it to America for identification. It was two years ago, when the doctors told Boston he could climb no more mountains, that he developed his interest in seashells. Walking along the Malate beach, he began collecting. The variety among the shells gave him business notions. He accumulated a stock, getting other folk to help. He had to learn to clean the shells, deodorize them, etc., and teach employes how to match them for practical use in dress novelties: bracelets and necklaces, ornamental buttons, whatnot. For larger and more varied supplies, he had shells gathered at other Philippine beaches. Part of his technical treatment of the shells, he worked out by commonsense and experience-his trade secret today. He sold the products at the Manila Hotel and downtown. Here they were seen by Edward D. Sultan, of Honolulu, a manufacturers' agent, who went at once to see Boston at his home, where the manufacturing is done. Sultan took every piece that was then ready, told Boston he believed the line was salable, and men[Continued on page 36] 27

Foreign Exchange Review (December 16 to January 15) By J. Rapoport The foreign exchange market eased off a little throughout the second half of December with the interbank dollar-peso r a t e declining 1/16(%. It is customary for banks to build up' strong cash positions towards the end of the year and in the absence of a discount or loan market in Manila this is usually accomplished thru interbank sales or ready dollars. At first there were several buyers of ready dollars at 1/2% premium with the result that fairly heavy interbank trans.actions were booked. This pressure to sell dollars increased somewhat towards the end of the month and buyers lowered their rate to 7/16%'o premium at which several isolated transactions took place. This, of course, cannot serve as an indication of.any change in the technical position of the market which, in fact, promptly firmed up in the opening days of the new year. Rather it shows that exchange rate is influenced by movement of funds in the country as well as by purely foreign exchange factors. During the first half of January pesodollar rate returned to the old level; sellers of ready and forward dollars at 9/16% pr. and buyers at 1/2%c pVr. Interbank transactions in prompt dollars were booked at both rates. However, 9/16% could be obtained mostly in combination with change-overs or other transactions. Otherwise it remained a definite selling rate with hardly any takers. Due to almost complete disappearance of demand for future dollars, the changeover differences tended to grow. Five and six months change-overs were booked at even rates and also at 1/16% difference in favour of sellers of ready dollars. Merchants' rates remained about the same: clean T. T. wvas available at 5/8% pr. for near and forward deliveries, retiring bills rate continued at 7/8% pr., while 60 days sight D/A bills brought 1/4 to 1/8% discount. Rice Review sellers' market and there was a time when it was believed that in view of the extensive damage suffered by the new crop in Central Luzon, the market should gather further strength. However, the unexpected heavy arrivals of Cotabato rice dampened buyer's interest and pr-ice began to gire way. Macan suffered a loss of P.15, closing at P5.55-P5.65 for No. 2, new crop. For the present, the most important factor that influences the market is the Cotabato rice. It is generally held that the moment receipts subside, it will have a marked firming effect on the Manila market. Rice from Luzon cannot be sold at the price of Cotabato rice in view of the high cost of palay in Central Luzon. One noteworthy feature was the comparatively firm position of the fancy varieties, old crop, which did not participate in the decline to an appreciable extent. This is mainly attributed to the scarcity of supply and further to the fact that very little new crop Elon-elon is available. No. 1 Elonelon was maintained in the neighborhood of P6.80-P6.90. Rice Arrivals in Manila -1 ( (December, 1940) By Dr. V. Buencamino__ Manager, National Rice & Corn Corp. The sharp advance in price in the preceding W'? f i'"l t ' ' ^ month suffered a;.... i: RX setback in December when speculative demand, brought about by L >s jj: the persistent re— 1 e — ports of extensive damages to the crop in Luzon encountered increased offerings Mo. January, 1940 February March April May June 165,993 121,745 108,480 115,071 105,169 101,653 Qty. Mo. July August September October November December Shipments to Provinces by Water Q ty. (cavaml 154,4( 144,8E 118,6( 89,91 84,74 113,92 Mo. Qty. Mo. January February March April May June 141,473 117,047 115,389 103,613 169,825 118,905 July August September October November December Qty. (cavans 143,08 111,14 83,85 59,3C 21,45 19,94 of Mindanao rice of the new crop, mainly Cotabato, at greatly reduced rates which sent pr-ices on the down-trend. A contributory factor was the firm stand of the NARIC to maintain its price of imported rice at P5.60 per sack. Up to the middle of the month it was a PALAY The firmness of the preceding period was prolonged into the first three weeks of December, ordinary varieties, advancing on small turnover from P2.45 to P2.65. Cabanatuan delivery. Weakness in rice in the latter part of the month checked the advance and induced buyers to reduce their price to P2.60. s) 69 52 )4 L9 11 s) 38 12 59 )1 i3 11 OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO AMANILA. P. T. I MENZI & CO., INC. MANILA Ioilo Cebu Davao.11 I IMPORTERS SHIPPING EXPORTERS INSURANCE Cable Address "CASAMENZI" 28 The American Chamber of Commerce Journall fb'hruar?1, 1r41 1 1

F Sugar Market Report (December 16th, 1940 to January 15th, 1941) By Warner, Barnes & Co., Ltd. Iuriing this period, holidays have intere..'e(l to a certain extent with business,!.ticularly locally over the end of the -.r!', when there were four successive bank l '.lays. Throughout the greater part of t: month, the market has been quiet and e,,* very much business has been done, with pricfs falling back slightly to 2.91~, but s-ilrs on the whole asking 2.950 and upv.-lls; one forward-shipment sale of Phili-c;ines was reported at 2.98', but the maj, ity of business was in afloats at about Ii the third week of December, refiners a! — anlced their quotation for refined sugar to 4.40); but were accepting orders on a daily basis at the old price of 4.35~ for delivery- before December 23rd; these tactics led to no improvement in demand. The refirl-l situation in the South was somewhat ln settled by the announcement from one refinery on January 6th that they would accept business at 4.354 for delivery duri;Lg the next thirty days, but towards the e:.l of the period, the situation generally appeared to have ameliorated, and on Jan uary 15th, Eastern refiners announced an advance to 4.45~ effective for February delivery. Quotations on the Exchange fluctuated as follows during the period: January..... March....... May......... July......... September.... Low 1.960L 2.00O 2.04~ 2.080 High 2.00O 2.00O 2.o5rl 2.1O0 2.130 Latest 1.98~ 2.00(2.05.; 2.09~ 2.13 retired from the market. During the first half of January, a little more activity was shown, but quotations never rose above P5.20, the fall in price being caused by an increase of $2.00 in the freight rate, announced by the Associated Steamship Lines on January 7th. Even at the higher rate, there appeared to be very little tonnage available and, at the close of this period, exporters again retired from the market completely. The market for domestic consumption sugar throughout the whole of the period was quiet and dull, with prices falling slowly to close at about P4.85 per picul, down P0.25 since our last report. Exports to the United States during the month of December amounted to 136,092 tons centrifugals and 3,148 tons refined. Total shipments from November 1st, 1940 to December 31st, 1940 were as follows: Tons Centrifugals................ 182,380 Refined..................... 3,632 Total................. 186,012 It is interesting to record that the above figures represent the heaviest shipments of new-crop Philippine sugar ever made before the end of the year, being more than two and one-half times the average for the previous five crops. Reported sales of Philippine sugar during the period amounted to 60,850 long tons at prices ranging from 2.90~ to 2.98~, and resales to 2,500 tons at 2.925~ and 2.94~. Locally, exporters showed no further interest in December delivery sugar after one dealer had taken a parcel of 6,000 tons at P5.90 f. o. b. loading port; quotations for January delivery were put out generally for the first time this season about December 24th with small quantities changing hands at P5.40 per picul. However, freight space rapidly became scarce, and by the end of the month, exporters WIN P250,000 on a P2 TICKET for the EXPOSITION SWEEPSTAKES Draw - March 16, 1941 For the benefit of the Philippine National Exposition to be el(l in commemoration of the Sixth Anniversary of the I,lommonwealth next November. P1,170,000 in CASH PRIZES on a sale basis of P2,000,000 ONE FIRST PRIZE OF P250,000 1 Second Prize of 125,000 1 Third Prize of 75,000 6 Fourth Prizes at 10,000 AND THOUSANDS OF OTHER BIG PRIZES!!! SPECIAL PRICE-P19.50 per booklet of twelve (12) tickets, plus 24 centavos for internal revenue stamps. %VANTED-Special distributors in the Visayas and Min-,anao to sell EXPOSITION SWEEPSTAKES tickets on commission basis at 50 centavos p'er booklet sold. Applicants must be ready to furnish cash bond, or surety bond tcveptable to this Office. WRITE TODAY. SAVE A LIFE' AND WIN A PRIZE Philippine Charity Sweepstakes. O. Box 141 National Charities Bldg. Manila ji II "THE GAME OF A THOUSAND THRILLS" T JaiT Alai EVERY j NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM ~4 BARS ~ CONTINENTAL CUISINE * SPORTS * GYMNASIUM Air Conditioned For Your Comfort m Th'' tAerican Chamber of Commerce Journal "t'q r?, 1!).' 1 29

Coconut And Its Products (Report for the month of December, 1940) - By Kenneth B. Day & Leo Schnurmacher The month of December saw a considerable improvement in the value of coconut products due to several factors. Arrivals of copra which had been expected to increase heavily prior to the Christmas holidays fell short of expectation. A demand unexpectedly developed for shipments to Japan, North China and Vladivostok and considerable quantities were reported to have been sold. In addition to these sales, Pacific Coast crushers were reported to have sold coconut oil in drums for shipment to Vladivostok. Prices available in China COCONUT OIL-The Atlantic Coast market for coconut oil opened quiet with buyers at 2-5/8 cents but sellers holding off because of high prices being paid for copra in the Islands. Throughout the month sellers were unwilling to take on much business because of the copra situa. tion and the month closed with buyers bid. ding 2-3/4 cents to 2-7/8 cents and sellers holding for 3 cents. There was little activity on the Pacific Coast market which remained slightly under par with the Atlantic Coast market. Statistics for the month follow: t I y I I 51 I Shipmen Pac Atla Chi Oth its: Metric Tons ific Coast........... 267 intic Coast.......... 7,846 na & Japan......... 100 er Countries........ 132 Total............... 8,345 Kenneth B. Day and Japan offered a higher yield than those paid by usual buyers and the cumulative effect of this unexpected demand was the withdrawal of sellers from the local market and in consequence a gradual rise in prices. COPRA-Arrivals in Manila were 23% less than for the month of November but within 1% of arrivals in December, 1939. Arrivals in Cebu were 2%o more than those for November and 13% over arrivals for the same month last year. The local market opened with open quotations of P3.15 per 100 kilos resecada Manila, with prices increasing gradually to a high of P4.00 available for contract quantities at the close of the month. Business was done in small amounts throughout the month. The Pacific Coast market opened with a quotation of $1.35 but rose gradually to a high of $1.55 at the close of the month. Copra shipments were light because during the past two months the Pacific Coast market has been under the local market equivalent and there was not a great amount of copra sold for December delivery. When sales were made during December, shippers were unable to secure space before January for the reason that all available space had been taken up for commodities upon which export taxes were to go into effect on January 1st. Statistics for the month follow:Arrivals: Sacks Manila.................. 405,048 Cebu...................... 403,479 Begining End of of month mnonth Tons Tons 24,161 25,341 Stocks on handManila & Cebu.. Shipments Pacific Gulf I China Metric Tons c Coast............ 10,948 Ports.............. 508 and Japan....... 202 Total............. 11,658 Beginning End of of month month hand- Tons Tons a.......... 32,150 37,183............ 27,420 37,241 Stocks on Manil Cebu ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA COPRA CAKE & MEAL-The Pacific Coast market for copra meal declined from $19.50 to $18.50 per short ton c.i.f. with practically no demand for shipment before April, and very little business was transacted. Statistics for the month follows:Shipments: Metric Tons Pacific Coast........... 8,716 Beginning End of of month month Stocks on hand- Tons Tons Manila & Cebu.... 9,929 8,532 DESICCATED COCONUT-Shipments for the month were 3,852 metric tons, which is considerably less than November shipments, but still heavy for the season. All desiccators were working at full capacity, when they could secure the nuts, so as to make their shipments before the export tax becomes effective in January. At the close of the month, however, the heavy shipments of the past three months did not appear to have affected the desiccated market in the United States and desiccators were actively bidding for nuts for January production. GENERAL-The month of December did not work out according to general expectations. Arrivals of copra were lighter than expected and while it was generally believed at the beginning of the month that an easier market would develop during the last half of December, the arrivals did not show the expected increase and the quotations at the end of December were higher than they have been since early in Ju!e. While coconut oil continues to be the highest priced oil on the American market and statistics show that a slump is due, the market has remained firm and advancing slowly, and the year ended with still better prices in sight. The,Amerzean C}tamihbe of Coitwerce Joural Februaryi, 1J41 I I I I I II I I ( 30

1940 Realty Transfers Nearly A Record By P. D. Carman Addition Hills and Boulevard Heights Here's how to get Manilas! With transfers of P23,871,634 as against the previous high of P24,175,365 in 1937 last year nearly equaled the record. 1940 exceeded 1939 by P3,811,677! The slump in exports caused by the closinjg of European markets and the prevailing low prices of Philippine products in the United States with high freight and insurance rates appeared to increase rather than retard investment in metropolitan realty. Undoubtedly transfers were somewhat increased by changes of ownership along new national roads within the City, affecting the total, however, but slightly. To arrive at the various causes of the apparent concentration of investment funds in real estate during a period of adverse financial conditions would require a knowledge, impossible to obtain, of the thousands of individual transactions involved. There are, however, certain factors which have undoubtedly tended to produce the rather surprising result. In the first place, Philippine and considerable amounts of foreign capital formerly available for more or less speculative ventures has unquestionably sought safer investment in real estate. To this has probably been added some capital which formerly earned at least moderate bank interest. Then there were certainly some transfers, to be expected at the approach of seemingly perilous times, when owners fearful of the future begin to liquidate, generally in favor of those who believe that war or business declines do not permanently affect real estate and who believe that Ma nila will always be the centre of the Islands' commercial, religious, governmental and social activities with continuing growth. There are also those who foresee a difficult future in the agricultural districts and a large influx of provincial population into what is considered the greater safety of the Metropolis. Such investors, anticipating a boom in Manila real estate, place their available capital where there are hopes of the greatest profit while others secure homesites as insurance against possible necessity. The recent census indicates that of 3,143,886 families in the Philippines only 39.7% own their homes and homesites: of 111,724 Manila families less than 7% are completely home owning while less than 25% own homes on leased land. These are surprising figures, which show that there is a tremendous untapped source of possible future real estate development and also that past transfers of improved and unimproved property have been made by an exceedingly small percentage of the total population. It is also remarkable that the population growth of the City of Manila from 283,613 in 1918 to 361,676 in 1939, an increase of 78,063 (in itself the population of a sizeable city!) took place during the period of greatest movement of population FROM the City to the suburbs. The growth of Manila and its suburbs may possibly be temporarily retarded by disturbed world or local conditions but who can doubt that' Manila will continue to grow until it has a po =[ Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby List of D i stributors furnished upon request to k:1 Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a nd Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port Area:4 THE HON. THE PHILIPPINE RESIDENT COMMISSIONER Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILA S made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". ; ---11111111111~~1-11111111 The American Chamber of Commerce Journal k'eray, 1941 31

L I - Southern Islands Cruises Cebu-Dunaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P99 NINETY-NINE PESOS P99 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 A I ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen l<aisha-Kobe Op)erating the Following Services: KERR —SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast and Gulf Ports, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K" LINE Express Service to Allallic Ports (Philippines to U. S. Atlantic Ports via Panama) =-I pulation of half a million or more? Although as yet there seems to be no evidence of serious price depreciation of local real estate, a continued economic depression may temporarily affect values unfavorably. Wise investors know that such times offer the best opportunities for profitable investment. On the other hand, if depression should force large numbers of provincial residents to transfer to Manila, values would inevitably increase and present owners would be the gainers. Serious depression often increases values in well-developed locations near large centres of population. The public loses confidence in proposed or promised improvements in more distant localities with the effect of concentrating demand on the most reasonably-priced and most accessible locations. It is natural to hope that the wars will soon end, that the lifelines of the democratic world will emerge intact and that former commercial activity will shortly be resumed. But realism forces us to face the possibility of a long, hard pull. A leading Manila periodical faces the facts when it recently published the following: "...This general and inexorable impoverishment, commencing at the bottom, rises through all classes and eventually affects reservoirs of capital in Manila, the banks. It curtails business on its way and business has no recourse but to cut overhead and let out employees. It is a vicious circle. Already it envolves the Commonwealth that withholds funds for projects of public works because general revenue falls off." When industry wanes and exports decline in value and volume, where but in metropolitan real estate can the capital that is still available find safety and a reasonable hope of ultimate profit? Roger Babson, one of the most expert of economists, advises: "Invest in real estate when the public thinks that good business will never return! Bad business is always followed by good business and high prices." On the optimistic side of the Philippine picture appears the increasing probability that the throttling provisions of the Tydings-McDuffie law may be removed or relaxed. Although favorable action would not greatly affect Philipnine economics v.t the moment, it would make a vecly great and vital improvement in the situation during the next few years. If the Government continues the program of public improvements started in 1939 and 1940, the local real estate market will of course be favorably affected. Governmental revenues, however, have shown a serious decline during recent months and it is believed that all but the most vital pr'ojects will have to be curtailed or delayed until more favorable times. Binondo......... San Nicolas..... Ermita........ Malate.......... Paco............ Sta. Ana........ Quiapo.......... San Miguel...... Intramuros...... Pandacan........ 1940 January.................... February................... M arch...................... April....................... May........................ June........................ July........................ A ugust..................... September.................. October..................... November................... December................... P 6,289,66 995,69 1,909,17 1,346,86 940,241 1,323,841 2,837,31' 1,653,06' 1,258,20' 1,713,27' 2,007,90: 1,596,39( 5,000 505,00 13,000 11,53 123,809 56,20 32,854 25,44 238,082 50,63 29,780 158,33 12,144 24,22 26,000 85,60 6,613 10,90 P2,007,901 P1,596,39 _ -- P23,871,634 1930.. 1931.. 1932.. 1933.. 1934.. Yearly P16,922,288 18,523,382 9,857,937 11,755,282 12,466,897 1940.. Totals 1935.. 1936.. 1937.. 1938.. 1939.. 23,871,634 15,403,079 P18,557,53( 24,175,365 19,522,521 20,069,957 Totals by districts-194( Sta. Cruz................... Sampaloc................... Tondo...................... Binondo..................... San Nicolas................ E rm ita..................... Malate..................... Paco........................ Sta. Ana................... Q uiapo.................... San Miguel................. Intramuros.................. Pandacan................... Port Area................... P 4,521,191 2,418,186 3,547,966 4,145,403 1,024,828 1,089,087 1,594,598 768,904 1,785,885 1,41 1,149 748,141 557,048 99,248 160,000 )O {5 )9 10 7 13 IO 0 2 0 Jo 5 7 6 0 0 7 2 7 2 1 4 9 0 5 1 7 1 To i I AI P23,871,634 Strong-Material Construction in the City of Maniia Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1935 1936 1939 P 447,350 1,048,420 635,090 1,012,320 1,116,140 788,380 478,620 608,430 536,170 628,320 437,410 1,019,670 P8,756,320 P2,772,940 1938 5,840,230 1937 1940 P1,117,380 1,096,460 821,800 987,280 719,770 529,230 325,460 618,640 584,920 961,790 471,460 323,330 P8,557,520 P7,129,570 9,005,0(00 Trade Commer Bldg. Commerce Bldg. Tels. { 2-15-21 2-15-22 2-15-23 MANILA Sales City of Manila 1940 November December P 762,97'5 P 125,397 196,193 150,973 561,451 392,144 Sta. Cruz....... Sampaloc........ Tondo........... 32 The American Clamber of Comincrcc Journal February!, 1!14

Export Statistics (December, 1940) - By Associated Steamship Lines --- The total Revenue Tonnage figures for December 1940 are 367,983 tons, for a total of 93 sailings. Compared with figures for the month of November, 1940, the tonnage sho(ws a Increase of 39,174 tons. SUGAR: Tons Centrifugal/Raw............. 134,697 Refined...................... 3,177 Total December.............. 137,874 Total November.............. 56,246 Ilcrease..................... 81,628 COCONUT PRODUCTS: Distributed as Manganese. 2,647 - - 15,147 98,917 - Tons Total Tonnage December.... 114,064 Total Tonnage November.... 147,276 Decrease................... 33,212 CONCENTRATES: Distributed as follows: United China & States Japan Europe Tons Tons Tons Copper.... 967 - Gold...... Lead...... 142 20 Zinc...... - 1,129 Tons Total Tonnage December..... 1,129 Total Tonnage November..... 284 Increase..................... 845 [Continued on next page] Vacu dzViD on (2toU(h a PRESIDENT LINER follows: United States Japan Europe Tons Tons Tons Misc. Ports Tons Desiccated Coconut.. Coconut Oil Copra...... Copra Cake & Meal.. I I I 6,669 8,625 10,254 49 118 145 S 0 10,024 - 35,572 167 145 r r: Tons Total Tonnage December..... 35,884 Total Tonnage November..... 64,505 Decrease..................... 28,621 HEMP: Distributed as follows: Bales China & Japan................ 35,382 United States.................. 48,259 Europe........................ 23,163 Misc. Ports.................... 15,554 Total Bales December....... 122,358 Total Bales November....... 154,351 Decrease................... 31,993 LOGS & LUMBER: Distributed as follows: Bdft. China & Japan............. 15,369,157 United States.............. 2,971,035 Europe................... 1,6 8,048 Misc. Ports................. 850,307 Total Board Feet December 20,828,547 Total Board Feet November 11,359,559 Increase................. 9,468,988 ORES: Distributed as follows: TO SAN FRANCISCO AND LOS ANGELES Via Hongkong, Shanghai, Kobe, Yokohama and Honolulu S.S. Pres. Coolidge............ Feb. 19 S.S. Pres. Pierce............... Mar. I S.S. Pres. Taft................. Mar. 15 S.S. Pres. Cleveland............ Mar. 29 S.S. Pres. Coolidge............ April 16 TO NEW YORK-BOSTON Via Singapore, Penang, Colombo, Bombay and Capetown l -- II * a? S.S. Pres. S.S. Pres. S.S. Pres. S.S. Pres. S.S. Pres. Monroe (new)........ Feb. 12 Madison (ex P. Garfield) Feb. 25 Grant (ex P. Adams).. Mar. 25 Jackson (new)....... April I Harrison............. April 10 I I r// ///////////,~:///////(/% Co pper. Chill-ne.... Chme..... Iron. United China & States Japan Europe Tons Tons Tons 3,300 12,500 11,150 84,467 Misc. Ports Tons AMERICAN PRESIDENT LINES "ROUND-WORLD SERVICE *~,,~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ^The American Chanber of Commerce Journal FI't"ary, 1941 33

OTHER COMMODITIES: TONS SHIPPED SUMMARY OF TONNAGE DURING DECEMBER, 1940 Dec. Nov. Incr. Decr. Total number of sailings during Decen ber, 1940-93 vessels of which 24 wet American vessels. Tobacco Review Lre Leaf Tobacco 3,591 Cigars & Cigarettes 941 Rope Shipment 797 Embroideries 447 4,264 728 893 240 Kapok 101 12 Furniture 1,573 1,027 Gums 140 132 Molasses 1,475 1 673 Honolulu U.S. 213 Pacific Local Pacific Overland 96 Atlantic 207 - Gulf 89 _ Pacific Coast Canada ^546 _ Atlantic Coast " 546 - China 8 Japan,475 - N. E. Indies Straits India 879 - Europe Australasia A. Dec. 1940 Tons 928 32,983 3,710 170,842 189 106 12,226 129,647 273 4,135 8,846 260 2,042 Dec. 1939 Tons 36,076 2,412 98,075 97,926 11,866 (December, 1940) -By Alhambra Cigar & Cigarette Mfg. Co. --- TOBACCO: Weather conditions in Cagayan and Isabela during December favored transplanting of tobacco. Tobacco stocks held by dealers are very small. Prices asked continue high. The 1941 quota for shipment to the United States is 4,275,000 pounds. Comparative figures Vegetable Lard Margarine 2,209 1,330 of shipments are: Other Commodities not listed above Africa 9,069 Tons (Dec.); 8,913 Tons (Nov.)Increase 158 Tons. W. Indies, Cent. America, South America 1,796 WN I 7II.. a Two THOUSAND MILES of startling beauty-through beautiful passes of the Cascade and Rocky Mountains-famous Yellowstone Park-vast fruit and grain growing regions-interesting cities and 1,000 miles along ' picturesque rivers. Luxury and comfort are yours on the Roller-Bearing- nORTH CORST LIMITED Completely Air-Conditioned Standard Pullman Sleepers-Observation-Club car-modern Pullman Tourist Sleepers and newest type reclining chair coaches. Drawing rooms and compartments ensuite, baths, library, valet and barber, radio and other conveniences for a comfortable journey."Famously good" meals in the diner as low as 50c; also lunch tray service in Tourist Sleepers and coaches. Leaving Seattle at 9:30p.m. daily; arriving Chicago, 8:45 a.m. third morning. Northern Pacific representatives meet steamships from the Orient at Victoria, Vancouver and Seattle. Let them help you with baggage, customs and reservations to any point in America. L A. BUCK, Speial Paumstr Ayt W. P. CARR, Gnral Asnt Smith Tower. Seatle, Washington. 678 Howe St., Vancouver. B.C. A. C STICKLEY, GCwmrl Agnt R J. TOZER, GCmeal Agt 912 Government St. Victoria, B.C 657 Market St., San Francisco, California Let oor rapreetative make your arrangments for a delightful trip on the Northern Padfi LOW Round Trip Fares with choice of return routes; long limits and stop-over privileges. nORTHERn PRAIFIC RRILUWY C L TOWNSEND, Gentral Passenger Agent, SMITH TOWER, SEATTLE, WASHINGTON w1 November December Year Year 1940 1939 1939 1938 19,241,22' 9,054,421 2,728,621 120,648 Australia & New Zealand....... Belgium........... British India...... China............. Holland,........... Hongkong......... Indochina.......... Italy.............. Java............. North Africa...... Spain............. Straits Settlements. United States...... Uruguay.......... Rawleaf, Stripped Tobacco and Scraps Kilos December Year 1940 1940.... 17,076.... 60,062.... 2,402 44,890 358,680.... 101,286.... 39,738.... 196,590.... 16,830.... 3,480.... 373,752 2,364,960 9,520,106.... 5,536 74,684 2,081,629.... 25,960 2,484,534 12,803,127 7 8 CIGARS: Shipments to the United States and foreign countries compare as follows: December 1940 November 1940 Year 1940 Year 1939 Year 1938 United States 20,500,061 14,939,785 210,285,096 196,481,233 185,871,272 Other Countries 554,925 374,374 14,469,573 10,195,542 9,506,364 The 1941 quota for shi] United States is 190,000,000. pment to the II China has contracted to sell $30,000,000 worth of tungsten ore to the Metals Reserve Company of the United States Government. The ore will be delivered over a term of years at prices dictated by market conditions. Lack of assured ore supply makes it doubtful if there will be any tin smelting industry in the United States despite efforts of the Administration to encourage such a project. 51 i I I I I I.r I M Ji \ F A SV A 01 N 34 The American Chambei of Comm erce Journal February, 191I

VALUE OF PRINCIPAL PHILIPPINE EXPORTS TO ALL COUNTRIES BY MONTHS, JANUARY TO DECEMBER: 1940 AND 1989 (D)ata prior to July. 1940. were compiled by the Bureart of Cutoms.) All exports Month and year Abaca Uopra, coconut oil, and other coconut products Logs, timber and lumber Gold and silver Sugar.;\NUARY TO DECEMBER: TOTAL-1940.............. 1939.............. J snuary- 1940............. 1939............. ' bruary- 1940............. 1939............. M. tchl- 1940............. 1939.............,1940.............. 1939.............. M a:,y- 1940............. 1939............. J.'e, — 1940............. 1939.............. Jui -_ 1940.............. 1939.............. August- 1940.............. 1939.............. September-1940..;.......... 1939.............. October- 1940.............. 1939.............. November — 1940.............. 1939.............. December- 1940.............. 19 9.............. P309.579,644 316,095,796 21,659,117 24,470,682 24,123,792 26.234.913 28,782,533 30,099.939 29,181,422 26,176,485 26,444,403 32,938,667 27,681,699 30,870,564 24,585,583 23,059,737 23,568,072 25,934,718 24,179,580 26,002,792 25,139,705 20,084,756 24,009,225 23,623,826 30,224,513 26.598.717 P 27,101,702 24,546,891 1,952,402 1,572,905 1,983,045 1.578.855 1,871,950 1,757,978 2.009,505 1,830.523 1,856,955 2,060,348 2,141,263 1,702,729 2,105.211 1,691.289 1,840,777 1,910.674 1,761,843 2,733,132 2,856,753 2.097.881 3,691,243 3,006,415 3.0,0,755 2,604,162 P 49,784,961 58,287,730 4,304,155 4,133,986 4,908,939 3,507,490 6,948,095 5,379,230 4,217,496 4,514,959 5,527,016 5,326,779 3,916,532 4,641,715 3,232,017 4,595,826 3,596,954 5,112,991 3.029,078 5,667,949 4,495,254 4,472.807 3,512,611 5,717,919 2.096,814 5.216,079 P 7,184,982 6,363,177 426,313 474,391 511,209 494,760 6 2.995 605,679 644,943 390,285 564.820 532.629 730,573 721,155 755,954 400,069 507,573 570.583 422,495 681,188 598.073 563,213 596,462 558,509 793,572 470.716 P 77,753,496 73,643,529 6,248,498 5,622.818 6,630,941 5,034,601 6,088,829 6,048,454 5,292.025 5,291,069 7,200.914 6.842,829 6,001,683 5,921,027 6,916,262 6,290,713 5,717,850 6,459,428 7,607,621 6.857,109 5,704,292 6,314.541 7,425,975 6,187,398 6,918,706 6.773.542 P 91,978,2t1 99,346,938 5,641,495 8,350.562 6,289,014 11,993,497 9,697,916 11,394,212 12,023,875 10,049,627 7,160,206 14,265,695 7,862,515 12,879,197 7,673,057 5,675,943 q,370,864 7,527,379 7,558,027 5.462,407 5,266,846 2,042,331 4,217,727 1,927,063 11,311,728 7,779.045 IMPORT AND EXPORT TRADE OF THE PHILIPPINES, BY COUNTRIES, JANUARY TO DECEMBER: 1940 AND 1939 (Data prior to July, 1940, were compiled by the Bureau of Customs.) Country of origin Import trade Export trade Export trade minus import trade or destination 1940 1939 1940 1939 1940 1939 TOTAL.................... P269,720,497 P245,559,992 P309,579,644 P316,095,796 P 39.859,147 P 70,535,804 United States and territories... 210,630,854 167,577,688 256,065,439 259,336,320 45,434,585 91,757,632 Canada........................ 3,162,875 2,450,957 1,269,918 786,634 - 1,892,957 - 1,664,323 Austria........................ 1,528 72,403 1,I28- 72,40 Belgium........................841,082 2.966,137 146,018 821,418 - 695,064 2144,719 Denmark.......................11,008 105,740 752811 2,687,729 741,803 2,581,989 France.........................574,555 1,573,437 3,117,665 3,525,594 2,543,110 1952,157 Germany.......................154,200 8,576,461 1,983,585 - 154,200- 6592,876 (;Great Britain.................. 3,760,291 5,961,200 7,205,851 6,645,924 3,445,560 684,724 Ireland........................238,108 445,459 1,896 10,834 - 236,212 - 434,625 Italy...........................628,647 659,696 815,567 490,83 186,920 - 168,813 Netherlands.................... 2,557,217 5,907,90 43,069 6,520,04 - 2,514,148 612,129 Norway........................527,589 172,934 94,878 573,281 - 432,711 400,347 Spain..........................415,397 170,763 3,000,036 2,109,276 2,584,639 1,938,513 Sweden........................711,889 1,038,502 1,539,187 1,906,457 827298 867955 Switzerland.................... 1,002,346 1,690,480 174,434 33.773 - 827,912 - 1,656,707 China.......................... 6,211,560 5,287,748 3,687,494 2,029,411 - 2,524,066 - 3,258,337 British East Indies............ 3,443,867 4,516,409 883,007 1,629,864 - 2,560,860 -- 2,886,545 Dutch East Indies..............8,134,342 5,954,850 1,173,379 863,418 - 6,960,9. -- 5,091,432 French East Indies............ 1,162,093 3,876,896 322,207 171.107 - 839.886 - 3,705,789 Hongkong..................... 2,047,781 1,792,756 3,719,348 1,718,236 1.671,567 - 74,520 ~Japan......................... 12,068,121 15,227,484 17,592,199 15,9'13,279 5,529,078 685,795 Kwantung..................... 50,420 177,052 178,968 244,963 128.548 67,911 Thailand (Siam)............... 1,483,015 1,575,573 351,513 305.226 - 1,131,502 - 1,270,347 Australia...................... 3,605,148 4,004,662 787,988 833,867 - 2,817,160 - 3,170.795 All other countries............. 6.301,564 3,776.800 6,656 772 4,955,683 355.208 1,178.883 a Dr1rn XA'. tr.raerINn L SINU iint hNL lU —AL EXPORTJ-UlKJ1 TRAE OA F I111i -r 'lLrINE JlDUUlNG DEUJlERll ANDLJJ NOVEMBER, 1940, BY PHILIPPINE PORTS OF ORIGIN (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) December November Per cent Port of origin Value Per cent Value increaser (Pesos) of total (Pesos) No December TOTAL................... 30.224.51 100.0 24.009,225 25.9 Manila......................... 16,854628 55.8 14,124,342 19.3 Cebu............................ 1,572,051 5.2 2,124,616 - 26.0 Iloil,............................ 8,191,017 27.1 3,834,716 113.6 Davao........................... 1,733,076 5.7 1,962,082 - 11.7 Legas)i.......................... 478,703 1.6 503,996 - 5.0 Joln............................ 2,273 (1) 813 179.6 Zalm:l'anga...................... 320,899 1.1 301,871 6.3 t. Pafngarniban............... 1.071.066 3.5 1,156.789 - 7.3 (f) Minus sign (-) decrease. (I) Less than 0.1 per cent. TOTAL EXPORT TRADE OF PHILIPPINES DURING DECEMBER, 1940,.Bk NATIONALITY OF CARRYING VESSELS (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Nationality of carrying vessels Value Per cent of (Pesos) total TOTAL.................. 30,224,513 100.0 American...................... 10,854,288 35.9 M ail........................... 5,923,699 19.6 Norwegian...................... 5,812,143 19.2 Japanese....................... 4,362,938 14.4 British.......................... 1,577,434 5.2 Dutch........................... 723,623 2.4 Philippines..................... 456,987 1.5 Swedish......................... 328,865 1.1 Panaman........................ 76,460 0.3 French.......................... 38,851 0.1 Jugoslavian...................... 36,713 0.1 Hungarian....................... 22,263 0.1 Aircraft......................... 10,249 (1) (1)-Less than 0.1 per cent. EXPORT TRADE OF THE PHILIPPINES BY MONTHS, JANUARY TO DECEMBER: 1940 AND 1939 (Data prior to July, 1940, were compiled by the Bureau of Customs.) Increase —1940 over Month 1940 1939 1939(' Pesos Per cent JANUARY TO DECEMBER, TOTAL................ P309.579,644 P316,095,796 -6,516,152 - 2.1 January................... 21,659,117 24,470,682 -2,811,565 -11.5 February................... 24,123,792 26,234,913 -2,111,121 - 8.0 March..................... 28,782,533 30,099,939 -1,317,406 - 4.4 April...................... 29,181,422 26,176,485 3,004,937 11.5 May........................ 26,444,403 32,938,667 -6,494,264 -19.7 June....................... 27,681,699 30,870,564 -3,188,865 -.10.3 July....................... 24,585,583 23,059,737 1,525,846 6.6 August.................... 23,568,072 25,934,718 -2,366,646 - 9.1 September................. 24,179,580 26,002,792 -1,823.212 - 7.0 October..................... 26,139,705 20,084,756 5,054,949 25.2 November............. 24,009,225 23,623,826 386,399 1.6 December................... 30,224,516 26.598,717 3,625,796 13.6 @ A minus sign (-) indicates a decrease IMPORT TRADE OF THE PHILIPPINES BY MONTHS, JANUARY TO DECEMBER: 1940 AND 1939 (Data prior to July, 1940, were compiled by the Bureau of Customs.) 1940 Increase-y140 over 1939 1939@ Month JANUARY TO DECEMBER. TOTAL............... Januaryy....... February...............March.. April.................. M.a '.................... Ju................... July...................... Set...be....... OS et, nber................ October.............. December................ I P269,720,497 24.478,798 24.494,391 24,599,871 21,348,716 25,120,248 23,552,629 26,004,738 24.459,676 17,060,364 22,431,772 14,755,r00 21,413,094 P245.559,992 15,254,755 13,982,072 17,013,435 15,109,120 14,250,836 24,351,636 18,255,515 18,848,677 23,914,100 28,563,991 28,744,864 27.270.991 Pesos Per cent 24,160,505 9 8 9,224,043 60.5 10,512,319 75.2 7,586,436 44.6 6,239,596 41.3 10,870,112 76.3 - 799,007 - 3.3 7,749,223 42.4 5,610,999 29.8 - 6,853,736 -.28.7 - 6,132,219 -21.5 -13,989,364 -48.7 - 5.857.897 -21.5 (a A Minus sign (-) indicates a decrease

011 NAL~~~~~~~~~~~~~~~~~~~~~~-1-0,1 MANILA,~~~~~)& PHILIPPINES~~~rw \I, N (). I NO. K~~~ NIARCH 1 941 3) C ENTA NO

I. I

L i7 ttz oZ From the kid sister -D. 0., M. D., Palo Alto. "Life is so interesting these days. One day I get a letter from a long lost grand brother and in a few days I am called to treat the hiding Princess S............. I am led secretly to a room surrounded by mystery and interest. After being told by an apparently unhappy person that she feels much better, and collecting a fee of 5 dollars instead of the usual 4, I leave without a reporter grabbing me to extract my information." * * * Dr. Ernest S. Griffith -Author of The Impasse of Democracy. "Harrison Hilton has turned over to me the copy of the Chamber of Commerce Journal containing the review of my book which you so kindly sent them. I appreciate your generous treatment more than I can tell you. Perhaps some day we may have the opportunity to discuss the ideas of the book together. Thank you also for the note from Commissioner Sayre." (We again recommend the Griffith book to all men interested in making democracy work in the novel circumstances of our times. Philippine Education have copies). * * * M. A. LeHand -Private secretary to President Roosevelt. "Mr. Early has referred to me your recent letter and I want to thank you ever so much for your courtesy in forwarding the accompanying copy of the December issue of the American Chamber of Commerce Journal." (With new subscriptions we will add copies of the December Holiday number gratis as long as extra copies are in stock, since quite a few readers have praised it and it really ought to be used up). * * * From a planter subscriber down Mindanao way. "Your bellyache about the measuring (or inch, or loop) worms, Pericyma cruegeri, that feed on foliage of i I Comfort * Speed * Safety * Economy North or South East or West You're All Set for a Swell VACATION! VIA MRR The Way of the Nation PACK up and enjoy the summer months. Go north, there is Baguio and the fascinating region of the Mountain Province. Go south, there is Legaspi and Bicolandia with its gripping legends of beauty. Go east, there is the Pacific East Coast, there is Baler, the President's hometown. Go west, there are the picturesque towns of Pangasinan and Zambales. All on the way of the MRR System, railways, highways and connecting carriers. Journey in comfort, speed, safety and economy: the standard transport service preferred by all! Daily, expresses and local trains between Manila and provincial outlying points. Tickets can be bought from any MRR station. Substantial discount for party travellers. Make arrangements with excursion solicitor or Traffic Manager, Tels. 4-70-57 and 4-70-58. For train schedules, rates and reservations, Tel. 4-98-61. i I Vm~ A~r~ MANILA RAILROAD COMPANY The National Transport System Tutuban Central, 943 Azcarraga, Manila, Philippines -1 PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SURETY COMPANY OF THE PHILIPPINE ISLANDS I executes and covers. BONDS Court, Customs, Firearm, etc. H I INSURANCE Fire, Life, Marine, etc. P. 0. Box It0 Plaza Goiti and Escolta Tel. 2-12-55 J.: 22111113111111111 The American Chamber of Commerce Journal March, 194i 1

certain acacia and other leguminous trees such as the flame tree, makes me feel that you are overlooking a good chance for an editorial on ecology-or perhaps the somewhat more limited subject of bird protection. "If bird life were protected in Manila, there would not be enough of these worms about to attract your attention. All the caterpillar-feeding birds are peculiarly fond of Pericyrla cruegeri. Here we have many of the trees on which this caterpillar feeds, but a collector would have some difficulty in getting specimens of the worm. Any that may get out to feeding during the night, quickly become a juicy breakfast for the birds that arrive with the dawn. In fact, Jacky Kingfisher (there are 24 Philippine species of him) and the shrikes (15 Species) may be busy before dawn if there is a moon to work by. "This breaking up of old Dame Nature's ecological balance in the matter of your acacia trees can be matched with stories of similar breakings-up of that balance in the case of many other plants; for example, cocales, rice paddies, cornfields. What you need in Manila, instead of spraying squads, are bands of vigilantes to destroy slingshots, dart throwers, airguns and other devices lethal to mankind's best and most important untamed friends. T It LYON STEEL PRODUCTS Storage Shelving Clothes Lockers Tool Storage Equipment Shop Storage Office Cabinets Folding Chairs Lockers for Golf Clubs, etc. This Steel Cabinet.0c C 0 64 x 24 x 18 inches U -)For Sale A Photostatic Machine..... P200 only. Make copies of valuable documents in your own office. Exclusive Distributors F. H. STEVENS & CO. 227 Calle David Manila "Of the Class Aves, the Philippines can boast 747 named and described species-the vast majority of them beneficial t?1 humanity in variors ways, not to mention the joys they can furnish the human eye and the human ear. Even the lowly, raucous much maligned corvine trio at the end of the long list, I am sure, do more good than harm. They eat caterpillars and locust hoppers by the basketful, and so may be forgiven for lifting an occasional egg or young chicken. "Every citizen and resident should by some means be educated to pride in local bird-life and to understanding of its indisputable economic and esthetic value to the country. It's a sad day and state of affairs when airgun artists, men, women, or boys, can come marching into town with a bag of orioles. Note that I include women in the foregoing sentence. Recently I have seen highschool girls (young ladies) from College, Davao, out shooting birds with airguns with much enthusiasm. "Some years ago the town council ruined a beautiful plaza by chopping ruthlessly down a hundred or so royal palms, because the palms were a roosting place of red-eyed starlings (possibly any one of 3 species) regarded as noisy in the early evening and the early morning. Now the redeyed starling has vast powers of dilation when caterpillars are on the menu. To anyone who ever admired a ruby, how thrilling it is to see the living ruby that is the starling's eye. "Besides the 3 ruby-eyed species, other species require such eye descriptions as pale blue, deep blue, pale brown, dark brown, white, brig-ht red, pinkish, yellow, and greenish-yellow. For their plumage, another adjectival phalanx is required. "For the past 13 years I have given my best attention to making this plantation a haven of safety for the feathered folk, and now it seems apparent that the birds know this. Practically any morning half-hour will introduce observers from a dozen or 2 dozen species within the bounds of the plantation-house's lawn and shrubbery and ornamental trees. Not long ago a noted American naturalist, during one month, listed 142 species within the boundaries of the plantation lands, including coconut groves, swamp, riverside, and sea beach. "Some of the hunting fraternity, too many of them, both American and Filipino, display about as much conscience with game birds as others do with songbirds; if a man may judge by what he sees happening to the Orders: Galliformes (painted quails pheasants) Hemipodii (button quail, 6 species), Columbiformes (doves and pigeons, 58 species), Charadriformes (snipes, curlews, plovers, turnstones, lapwings, stilts, whimbrels, godwits, redshanks, sandpipers, tattlers, greenshanks, sanderlings, knots, phalaropes, and jacanas, 58 species), and Anseri L Hongkong & Shanghai Banking Corporation Authorized Capital...... H.K.$50,000,000 Issued and Fully Paid... H.K.$20,000,000 Reserve Funds:Sterling................. ~ 6,500,000 HIongkong Currency Reserve $10,000,000 Reserve Liability of Proprietors................ H.K.$20,000,000 Board of Directors and Head Office in Hongkong Sir Vandeleur M. Grayburn, Chief Manager. London Office-9 Gracechurch Street E. C. 3 Manila Branch-Established 1873-Agency in Iloilo Agents at Cebu:-Messrs. Ker & Co. The Bank negotiates and receives for collection bills of exchange; issues drafts and telegraphic transfers on its branches and correspondents in the Far East, the British Empire, the United States and South America, and transacts banking business of every description. Current accounts are opened in Philippine Pesos. Fixed Deposits are received in Philippine, British, or U. S. Currency, on terms which will be quoted on application. C. FARNWORTH, Manager ZI 2 The American Chamber of Commerce Journoal March, 1941

- formes (ducks and geese, 11 species). "I write only to induce you, who know well the art of writing, to cry from the housetops for law, for education, for sentiment to protect, to save, one of the country's great natural resources." Following is a list of the 22 Orders of the Class Aves in the Philippines with some hint as to their feeding habits: 1. Galliformes, 4 species (meg'apodes, painted quails and pheasants). Seed and insect eaters. 2. Hemipodii, 6 species (button quails). Seed and insect eaters. 3. Columbiformes, 58 species (pigeons and doves). Seed, fruit, and insect eaters. 4. Ralliformes, 17 species (rails, gallinules, and coots). Fishers and insectivores. 5. Colymbiformes, 3 species (grebes). Fishers. 6. Procellariiformes, 2 species (petrels and shearwaters). Fishers. 7. Lariformes, 12 species (terns and gulls). Garbage and fish eaters. 8. Charadriiformes, 41 species (note 4, above). Fishers and insectivores. Some of these species are evolving from shore birds to field birds. The cattle egret, for example. 9. Gruiformnes, 1 species (cranes). Fisher and insectivor. 10. Ardeiformes, 22 species (herons, storks, ibises, spoonbills, egrets, and bitterns). Fishers and insectivores. The cattle egret meticulously keeps Philippine carabaos and cattle deticked, as well as feeding principally on insects stirred up by grazing herds. 11. Anseriformes, 11 species (ducks and geese). Seed, fish, vegetable, and insect eaters. 12. Pelecanifornes, 7 species (cormorants, darters, gannets, frigate birds, and pelicans). Entirely fishers. 13. Accipitriformes, 33 species (eagles, hawks, falcons, kites, merlins, etc.). Fishers, snake eaters, rat & mouse eaters, insectivores, honey eaters, monkey eaters, bird eaters. Some species of this order are completely insectivorous; the damage in chicken yards caused by certain species are small in comparison with the general good done by this order. 14. Strigiformes, 28 species (owls and hawk-owls). Feed almost entirely on rats and mice. 15. Psittaciformes, 55 species (cockatoos, parrots). Seed, fruit, and vegetation eaters. 16. Caraciiformes, 68 species (frogmouths, rollers, kingfishers, hornbills, bee-birds, goatsuckers, and swifts). Mostly insectivorous, but hornbills go for fruits, and some kingfishers actually do fish as well as gobble up small snakes. 17. Trogones, 1 species (trogons). Seeds and possibly insects. This is the least known and seen of all Philippine birds. 18. Coccyges, 26 species (cuckoos). Insectivorous, but is parasitic on other birds as it lays its eggs in their nests and relies on them to bring up its young. 19. Scansores, 2 species (barbets). Insectivores. 20. Piciformes, 22 species (woodpeckers and flickers). Insectivores and chief protectors of forests. 21. Euryalemiforines, 2 species (broadbills). 22. Passerifornzes, 365 species (pittas, swallows, flycatchers, cyornis, fantails, warblers, shrikes, accentors, hoopoes, babblers, bulbuls, thrushes, shortwings, redstarts, rubythroats, dominicos, shamas, chats, wheatears, tailorbirds, cisticolas, thickheads, titmouses, nuthatches, creepers, silvereyes, flowerpeckers, sunbirds, wagtails, pipits, larks, crossbills, bullfinches, sparrows, bramblings, siskins, huntings, bluebirds, leafbirds, weaverbirds, orioles, drongos, starlings, coletos, mynas, crows, etc.). Most of these are insectivorous; some eat seeds; some combine nectar with spiders. Most of the song-singers are in this order. Y — Also sold in 10-lb. BAGS Tlh^ G Produced by VICTORIAS MILLING COMPANY, INC. operating raw sugar factory and refinery at VICTORIAS, OCCIDENTAL NEGROS I WISE & COMPANY, INC. Cebu MANILA Iloilo FOUNDED 1826 EXPORTERS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum I M P O R T E R S Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds MANILA OFFICE Wise Building, Juan Luna Cable Address "SAPIENS" Standard Code The American Chamber of Commerce Journal March, 1941 3

IT'S ALL JUST MAKE BELIEVE NOW! A/dl^t'c 4nUTff~ / ^^But these dream plans can be treasured memories by IyAD1V N t.^f taking the MARITIMA Cavalcade of Romance and ~~ jAdvenure — INVESTIGATE HOW ECONOMICALLY YOU CAN Vl'^^^m.BRING THE WHOLE FAMILY TO THE SOUTH THIS YEAR Enjoy companionable sailing in fast Safe and Comforfable Ships with a registered nurse as Stewardess and guides in all principal 'ports to show you the sights — For further travel information inquire at TOURIST DEPARTMENT COCEIPAN IA 4AI ITIIMA Corner Dasmariias and Juan Luna Tels. Nos. 4-98-24 & 4-98-11 COOL OFF! with a glass of ice -cold Santmi uJt haler ilsen The BEST of GOOD BEERS Since 1890 el BreherM al San Iit)igul 4 The American Chamber of Commerce Journ March, 194 (

II 1941 Directorate of the American Chamber of Commerce of the Philippines President S. F. Gaches Vice President E. D. Gundelfinger Treasurer Roberf E. Cecil Director John L. Headingfon

Director Paul A. Meyer Director H. Dean Hellis i j Director N. H. Duckworth NOTE Secretary Carl G. Clifford of the Chamber of Commerce is the ninth director this year. The remaining alternate director is the well known real-estate man, Colin M. Hoskins. ( G. M. Ivory, alternate director E. Byron Ford, alternate director

Notes on Fred Stevens Summary of the Philippine business career of the Manilan who heads the new American Coordinating Committee to effect civilian cooperation with the military and Commissioner Sayre should war fall on Manila. Frederic Harper "Fred" Stevens, but recently elected to another civic responsibility, will turn over the management of F. H. Stevens & Co., importers and exporters, to his assistant, L. A. Cooper, some time soon, and spend a year in the homeland, much of the time with his mother in Chicago. So a word about Mr. Stevens is in order. The Harper in the name derives from ancestry that gave the name to Harper's Ferry, Virginia. Mr. Stevens was born not far from there, in Hart county, Kentucky, the only son of Peter Charles Stevens and Elizabeth Faget Stevens. Peter Faget, the father of Mr. Stevens's mother, was a Unionist in Hart county during the Civil war; when local sympathies were largely on the other side, he was an officer in the 27th Kentucky Infantry. Hart county is nationally known as the home county of Simon Bolivar Buckner. If your memory runs back to 1896 it recalls this valiant Kentucky statesman as the running-mate of John Palmer on the gold Democratic ticket, Palmer and Buckner, when William Jennings Bryan led the Democratic silverites and bimetalists and McKinley won the presidency on a straddle platform behind which was the general understanding that he favored gold, which was true. Mr. Stevens's father was a printer and moved the family to Chicago in 1887, where he was employed with A. R. Barnes & Co., printers for the railroads. For about 50 years he was the company manager, a post he gave up January 1, 1938, when he was 81 years old. He died October 21, 1940, 83 years old, in the family home, 343 West 60th Place. The suburb of Englewood where this home was built is now quite well downtown in Chicago. This will be Mr. Stevens's 1941 Chicago address. From a first marriage Mr. Stevens has a daughter, Charlotte, who was in Manila last year with her husband, Fred C. Brown, and a son, Lee Stevens, who remains in Manila in charge of transportation at the Manila Electric Company. Mr. Stevens came to Manila first in 1912, lately married to Miss Josephine Kuhn, of California. Mrs. Stevens had a long Frederic Harper Stevens career here in the clerical service of the Philippine Supreme Court, and died here 2 years ago leaving as friends all who had known her. Mr. Stevens founded F. H. Stevens & Co. in 1932, in the midst of the depression, selecting standard American and foreign agencies and building the business during subsequent years to dimensions of gratifying importance, a turnover of millions of pesos a year. In 1912 he came to Manila an employe, in 1941 he leaves it a leading business proprietor; in the interim he has often been singled out for leadership in civic matters, as for the headship, 1921 to 1923, in its formative years, of the American School corporation. Masonry always interested him, too, and in that he is a Past Grand Master of the Philippines. His purpose in coming to the Philippines in 1912 was to fulfill a year's contract with E. C. McCullough & Co., then leading merchants and printers, in their printing department. At the end of the year he was made vice president and general manager. He inaugurated an annual bo nus plan in the company, whose prosperity was such in 1916 that the sum of bonuses distributed to all employes who had been with the company 2 years or more topped P230,000. When the founder, E. C. McCullough, sold off the agencies and broke the business up, Stevens led the group of employes that organized the McCullough Printing Co., now a branch of the Philippine Education Co. and still setting the pace for good printing. Tracing back this association we come on old friends. John C. Howe, long manager of McCullough Printing, lives now at 619 Paloma, Oakland, California. "The most fortunate and successful part of my 27 years in Manila dates from the day I first met and became associated with you in 1913," he writes Mr. Stevens, "and you may be sure that I shall always remember you as one of the best friends I ever had." Mr. Stevens tell us he has a natural pride in such mementoes of business life in Manila. Pat M. Coyle, the gruff journeyman who bossed the mechanical department during many years, still lives and works in Los Angeles. "Let's start another printing office," he writes Mr. Stevens, "with you at the head, and we will make another 100% dividend.... I have gained much from my association with you." Charles H. Noronha, the ablest proof-reader we ever knew, lives at Moundsville, West Virginia. He was of course in charge of proofs at McCullough Printing. "Your taking over the McCullough Printing Company and permitting employes to share in the profits was a godsend to me," he writes Mr. Stevens. "... I cashed in the cozy sum of a little over ten thousand. I take this opportunity to thank you for all you have done for my welfare. You have, indeed, practiced the Golden Rule." J. F. McLennan was still another of the old staff. Now retired, he lives at 501 Franklin St., Bay City, Michigan. On leaving Manila he wrote Mr. Stevens: "Thanks, Steve. It was a lucky day when I left the Bureau of Printing and joined up with you." [Continued on page 11] The Arnerican Chamber of Commerce Journal March,.1941 7

The Little Town of San Isidro Mayor Cruz interviewed by the San Francisco Chronicle, gives account of his stewardship of a forgotten Nueva Ecija community. A few weeks ago when Albion Ross of the San Francisco Chronicle was looking the Philippines over, we drove him one Sunday to San Isidro, Nueva Ecija, our oldtime school bailiwick, where he saw more democracy quietly at work than he had perhaps supposed existed in the country; for up to about that time his observations had been mainly in hotel lobbies and he felt, as he really knew, that he was missing a lot that is fundamental. In San Isidro, our first stop was at the municipal building. We were hardly out of the car until folk began recognizing us; they were all boys and girls grown up long ago, it had been 26 years since we had last seen them, and in their middle-age they had the advantage of us-we could not recall them until we heard their names. But it was like going home, and to a most hospitable hometown. In the municipal building, on duty, though the day did not call' for it, was Mayor Leoncic A. Cruz, another old pupil, and with him the chief of police, still another. We introduced Ross, who was soon in idiomatic conversation with Mayor Cruz about the town's economics and politics. Then we took him on the rounds of the building; other offices in it had for many years been those of the school superintendents, first Thompson, who died at San Fernando, then Clinton D. Whipple, under whom the office went to Cabanatuan when, under Treasurer Lavadia, dead years ago, the capital went there. Ilokanos were rapidly filling up the northern part of the province, and Cabanatuan at the end of the railroad made a more central point for provincial administration. These immigrants now seem to outnumber the earlier Tagalogs. They have just elected Jose Robles the provincial governor, over Aurelio Cecilio, from San Isidro. At the time of our visit, Mayor Cruz was standing for re-election in San Isidro; we bargained with him that if he came out lucky he would furnish us some notes for this paper, and he has kept his word. There were 4 other candidates, one of the Popular Front, IT WORKS IN SAN ISIDRO Readers know how consistently 'we have advised reaching the Philippine tenant with bank credit. The story on San Isidro, in this issue, tells how this is actually being done-in that town. The town mayor, re-elected over 4 rival cand, dates, gives this duty his particular attention anid makes himself accessible to tenants even of Sundays, their best day to reach him. He has got 21,000 pesos loaned among them, in 700 loans at 6 a year. The average loan is then P30. This is important and realizes in practice a suggestion of ours 2 years back, when aue chose San Miguel de. Mayumo, near San Isidro, and surmised that P20,000 in tenant loans there would cripple the general usury and shortly wipe it out. President Quezon has had the necessary mechanisms put to work to implement such ideas, over which we claim no monopoly: he himself has been the effective champion of justice to producers, and there is merely a parallel between his conclusions and ours. We are happy to add, of Mayor Cruz's loans, that they began in 1939,. and in that first year, 90% were paid in full together with all accrued interest. San Isidro landowners, taking the hint, have dropped their interest charges to 10%. This may be a milestone. was appointed to a scholarship in the School of Forestry at Los Baios. He was graduated a ranger in 1919, anl for 10 years worked in the Bureau of Forestry, studying when he could, of evenings. He thus took law in the University of Manila, graduating in 1926 and passing the bar examination in 1927, his first try at it. Afterward, for a few years, he worked at the law in the offices of Sumulong & Lavides. In 1931 he hung out his own shingle, and in 1935, after the death of his wife, he went to San Isidro to settle down with the children. His wife was Segunda de Guzman, of a well known family of Gapan, near San Isidro-the seat of the provincial vicarage and a main crossroads, and a popular market center of Mondays. Mayor Cruz's children are 6, 4 boys and 2 girls. Confinement was the cause of Mrs. Cruz's death, so you may believe that encouragement of the puericulture center at San Isidro is a not-neglected interest of the mayor's. Mayor Cruz's eldest child, Dionisio, graduates this year from the highschool at Cabanatuan; college is the next problem, with him, and similar problems with his younger brothers and sisters will be coming along-we can definitely assure Mayor Cruz of that. The mayor's salary is P90 a month. How to manage! Well, it has to be managed; the democratic thing is to manage it-this problem of all these eager children. San Isidro is an agricultural center; the rice lands are under irrigation and it would be nice to own some, but fortune has not turned that way for Mayor Cruz-he owns only the lot where his house stands. An advantage he has in office is his being a lawyer. It helps him with the following rule: "We condemn the compadre and the padrino system. Everybody is entitled as of right to approach municipal officials for advice, or to lodge complaints, or for redress of wrongs, without the help or intervention of a padrino," which means, without having along with him someone supposed to exercise pull. who came out third. Basilio de Leon, another old pupil, and classmate of Cruz's, was second. Mayor Cruz's plurality was 152. There are 3,763 voters in the jurisdiction, and 2,800 votes were cast. Mayor Cruz spent P12 in the campaign, and friends of his spent perhaps P40. He campaigned afoot, from house to house and village to village, going into the people's homes and ascertaining their wishes and grievances. Less than 6 times he used carromatas, never a car, and he is not the owner of a car. Some of his rivals spent much more money. That was their privilege. He is of course a Nacionalista, as were 3 of the others. Mayor Cruz is a self-made man. On good marks at school, in 1917 he 8 The American Chamber of Comm.erce Journal March, 19.5

In the other families where we visited with Mr. Ross, the feeling was that Mayor Cruz should be re-elected — also that the election would be close because of the way the Nacionalista strength would be divided. Large taxpayers, large at least for San Isidro, felt Mayor Cruz had given a good account of himself during his first term. Social Justice was the sign outside his door that attracted our curiosity. When we asked what it meant, he said it meant what it said: justice to all, the poor and the rich alike. San Isidro harbors a branch of the Farmers Financing Agency of the Department of Justice, granting loans to tenants at 6% a year; and in this way, San Isidro tenants to the number of 700 have procured loans summing P21,000. now falling due, due with the harvest. The season of 1939 -1940 was the first trial of this, when, in San Isidro, more than 90% of the loans were paid in full. Mayor Cruz considers this experiment of President Quezon's altogether successful, as he knows it in his jurisdiction, where he reports that landowners have been induced to make their loans to tenants at no more than 10% a year. So far, this sort of thing has neutralized the socialist movement filtering in from Pampanga by way of Cabiao. San Isidro's crops are rice, corn. tobacco, vegetables, and a wide variety of fruits. Rice covers 4,408 hectares, corn 523, tobacco and other crops 176. The population is 12,078; the school enrollment is 1,200 and includes a full intermediate school with 15 classes. Teachers number 30, 17 in town and 13 in the villages. A tract of 200 hectares is a large holding here; most farms are not larger than 10 hectares. The Julian Vallartas are among the larger owners, and if any young writer wants to do something on the Philippines comparable very possibly to Pearl Buck's Good Earth about China, let them learn and relate the dramatic life story of an oldtime teacher of ours, Francisca Trinidad de Vallarta, now the mother of 10 children and the head of San Isidro's puericulture center. In the Vallarta home, Mr. Ross found everyone talking with him in idiomatic English without the least difficulty or constraint, an experience repeated in the home of Francisca's brother, Gregorio Trinidad, himself:, former teacher, and his wife, who was in our day Francisca Viardo, first among San Isidro's conservative girls to wear shoes and stockings to school; but later, a Normal School graduate, she taught home economics In Nueva Ecija for many years, until the growing demands of many children of her own brought her to resign. The Trinidads are in a little company that owns a rice mill. It is on the Trinidads' property, in town, and Gregorio manages it. When an extensive Spanish property on their street was broken up, at the death of the old father, out of their savings as teachers the Trinidads were ready to buy; so they have a most pleasant home here, lights, refrigerator, and every reasonable comfort, and this mill to support it-besides their fields. Dr. Jose Moreno is back in San Isidro. He is the surgeon who built St. Joseph's Hospital, in Manila. He keeps the lands inherited from his Spanish father, Capitan Moreno, who dated well' into the Spanish period when San Isidro was a factoria of the governmental tobacco monopoly and much tobacco was grown there, on the alluvial banks of the Rio "Old France" out of a buffalo wallow to duel with his Springfield against one of Aguinaldo's sharpshooters, with a Mauser, who had Heath and some of his men holed-in there. France won the duel, but the main point is that he was soon detailed to teach school and with very little formal qualification founded and supervised scores of the eariy public schools of the province, and some of the best. The "Gilmore Party" made up of Lieutenant Gilmiore and some men from the gunboat he had commanded, taken at Baler, were Aguinaldo's prisoners in the municipal building, in the very room that became the school superintendent's office, where they wrote their names on the wall and said they were well treated. An old San Isidro Spaniard made friends with them through his wife, who did their wash, and he carried word from them back to Lawton. He named his sons for Americans, McKinley, Roosevelt, Taft, and the U. S. army never forgot his kindly services. The municipal building is a very solid brick structure originally built as a provincial jail. It abutted the compound of the factorisa, occupied by large warehouses for the tobacco. In our time as the supervising teacher, we permitted these warehouses to be taken down and the materials to be utilized for school buildings; and we have to report that fewer beams got into the school khouses than were taken out of the warehouses. The people hated the tobacco monopoly, they were glad to see the warehouses razed. School houses suited them better. San Isidro was the hometown of the late Epifanio de los Santos, a noted scholar; it is also the hometown of Judge Benito Natividad and Ex-Assemblyman, Ex-Senator, and Ex-Resident Commissioner Isauro Gabaldon, author of the first bill from the Philippine Assembly that became a Philippine law: the appropriation of a million pesos for free village primary schools. Gabaldon resigned the governorship of Nueva Ecija in 1907, to run for the Assembly. Marcos Ventus, a general of the Insurrection, was a native of San Isidro. It is also the hometown of Dr. Jose P. Bantug, the well known scholar, in charge of publicity at the Bureau of Health, and of Paz Policarpio Mendez, the wife of Mauro Mendez of the Malacanan staff, and the author of some Philippine school textbooks. Her schools well attended and with no grave agrarian problem, San Isidro is as democratic as a denim shirt. So is Mayor Cruz. Mr. Ross got his story, and we ours..rI: ~ i!. i,:~ii::]~:i a r Mayor Leoncio A. Cruz of San Isidro, N. E. Grande de la Pampanga. Capitan Moreno was an officer of the Guardia Civil, but the animosities of that old era are forgotten. There's some little history crumbling away harmlessly in San Isidro. The house, for instance, occupied by General Frederick Funston and Mrs. Funston when the General was trekking northward after Aguinaldo, still stands; it was the home of the Thompsons, and then of the Whipples, and once ours. Mrs. Funston's beauty is legendary in San Isidro. She was a redhead. Lawton made headquarters here a while. In skirmishes with the advancing Americans, across the river, General Manuel Natividad was killed. In this same locale, on advance guard duty, the lato Captain H. L. Heath drove The American Chamber of Commerce Journal Mlarch, 19 I1 9

American Chamber of Commerce of the Philippines DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treaqwer P. A. Meyer J. L. fieadingtoc, J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary ALTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen MEMBERSHIP COMMITTEE E. D. Gundelfinger R. D. Standish T. R. Worthen Geo. Bissiner LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman H. B. Pond B. S. Ohnick J. H. Alley E. E. Selph E A. Perkins F. H. Noble BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman G. Ivory J. M. Crawford M. S. Kestler B. Fairchild MANUFACTURING COMMITTEE M. S. Kestler, Chairman (Coconut Oil) G. T. Herrmann (Copra & Des. Coco.) Alexander Frieder (Tobacco) E. C. Holbrook (Steel, metal) H. P. Strickler (Cordage) F. H. Hale (Shoes, leather, rattan) P. J. Walowit (Embroideries) S. M. Jones (Sugar) J. L. Headington (Buttons) ENTERTAINMENT COMMITTEE D. M, CarAeron, Chairman E. L. Kincaid PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington Wm. Burrell B. H. Silen H. A. Linn SHIPPING COMMITTEE W. T. Goodwin, Chairman G. P. Bradford F. H. Myers J. C. Littig C. V. Morton HEMP & COCONUT COMMITTEE H. P. Strickler, Chairman N. H. Duckworth H. Dean Hellis J. H. Alley J. D. Conrad to lay off the birds. To organization and persistent pur. pose, all things are possible. In addition to free concerts morning and evening, Philippine birds are ready to save Philippine husbandry millions of pesos of losses a year. Let national character-building commence at this point. Let it soon be libel to say that Philippine boys are wanton bird killers, killing merely to note the shot strike home. The fault is not with the boys, but with their elders altogether. The pulpit's aid would be of the utmost value. There the responsibility of man as the protector of God's lesser creatures can be impressed religiously: that it is a part of Christian character to be merciful to the helpless, even to creatures of the forest and the field, is a lesson not difficult to impart to children, since it is patently true. Any town that began protecting its birds would soon find its boundaries a bird sanctuary, as Fort Santiago is here in Manila; and the council could engender competition among the villages by proffers of annual awards, the village with the most and greatest variety of birds taking top honors. Schools could have similar competitions. Within 5 years concerted effort would begin paying in dollars and cents, while the greater gain would be in the finer and more manly character of youth in all the communities. Every reader of the Oesch letter will catch this enthusiasm, so let us all see to it that Planter Oesch will not have taken such pains for nothing. In a further letter he animadverts on the topic of the pithicophaga, the monkey-eater. This, he says, is the rarest of Philippine birds and in all probability the rarest eagle in the world. "It is a real monarch of the birds, being the largest of living eagles, and not closely related to other eagle species-save perhaps with the harpy that gave rise to some of the stories of classic mythology. Its resemblance to the harpy eagle lies chiefly in the magnificent feet. A full grown monkey-eagle will have a middle toe, including claw, 75 to 85 millimeters long, opposed to a hind toe, including claw, 50 to 60 millimeters long. "This Philippine eagle was first brought to the notice of the scientific world by the American ornithologist Keller, nearly 40 years ago. It should be absolutely protected, as I have never heard of its hurting man's interests or his economy in any way. Keller, I believe, obtained the first specimen ever taken to the United States. The British ornithologist Grant was here in the early 90's of the last century, but failed to secure a specimen for the British Museum though he offered P1,000 for a specimen in good condition." This, the largest of all eagles, is unique to the Philippines. It is the only species of its genus, and is more gorgeously plumed than even the American eagle. Davao folk see it often enough, carrying a cobra to its eyrie high on Mount Apo. If nothing else is done, law at least should protect him from every pursuer except the licensed scientist. From this point on, we hope man's responsibility over the bird kingdom in the Philippines will be zealously exercised. All movements require a start, and such a movement could have no better start than the Oesch letter. * * *R SHO THE FLOWER SHOW Manila's Second Annual Flower Show at Aurora Gardens (a perfectly preserved bastion of the city walls) was successful in every way, under this committee: Mrs. George Fairchild, Mrs. Newland Baldwin, Mrs. WyattSmith, Mrs. Jaime C. de Veyra, Mrs. George Grunert, Mrs. Kenneth Day, Mrs. Vicente Lim, Mrs. T. J. Wolff, Dr. E. Tamesis, Mrs. W. R. Burrell, Mrs. W. G. Stevenson, Mrs. Bradley Fairchild, and Mrs. Ewald Selph. There was no paper at the show. Everybody paid admission, including committee members, at 1 peso a ticket. The American Chamber of Commerce Jourilt1 March, 19.1 BIRDS: THEIR LIVE-WEIGHT VALUE Manager Ernest H. Oesch of Mindanao Estates, Inc., Padada, Davao, the author of the bird letter in our Letters department this month, has been so thorough on the subject that we plan trying to get his comments broadcast to the schools before they close for the summer vacation. He thinks the birds, if not wantonly destroyed, would maintain the mysterious balance of nature and keep down worm and insect pests that ravage Philippine crops periodically. Yet just as soon as the schools close for summer, boys will be abroad in every town and village and hamlet, with slingshots and airguns, volleying at the birds and slaughtering them by thousands. It is said that this can't be stopped. No, maybe not stopped altogether, but it certainly can be materially abated. Philippine boys are for the most part peasant boys; if the crops of some of the birds they kill for sport are opened in order to prove to them that they have killed a friend and no foe, and this instruction is amplified as teachers and parents and neighbors may readily undertake, the boys will soon discriminate in their shooting. We note that Dr. Manuel Lim has just been reelected head of the Boy Scouts of the Philippines. All his boys are natural leaders, let them lead their chums 10 (

I E:nthusiasm ran high, and several thousand pesos were collected for war relief, local charities, and upkeep of the Gardens. The encomiums of the press were weill deserved. Ail aInnual flower show seems now well established. The bastion is circular in form, with a facade parallel to) the adjacent wall. Exhibition space is in the arches supporting the walls, and in the enclosed space tantamount to a patio or court. We would invite attention to these admirable facilities for other shows. For instance, Aurora Gardens would be suitable for a kennel show. Is there no kennel club? Are our dog lovers behind our amateur florists in initiative? Manila must have things and plans of her own, preliminary to, and perhaps indeIpendent of, national expositions. Manila is Manila. Our Garden Show patrons are teaching us to remember that; they conjure suddenly to life the spirit of 30 years ago, the very making of the early annual carnivals, all associated with remarkable expositions. We would talk a moment of Benigno at the Flower Show, with tomatoes from his garden at San Fernando, Union, of whose luscious excellence no show-goer needs reminding. They did not, of course, win him a prize; they were not flowers, and his prize was for his bougainvillea. He is a Munioz graduate, and he gardens at San Fernando for David H. Minnich, manager cf Norlutran, a land-transportation company. The committee will never know how pleased Benigno is with his ribbon and its medallion. He had expected no award; he came, he said, to see the method only. But watch him next year! He bought potted plants that will be new in his region, Ilokos; he took scores of slips back with him, including bougainvillea varietes he had never seen. From the Minnich garden, within a year or two, all this will be disseminated from one end of Ilokos to the 'other, and from Cagayan, up the Cagayan and Isabela valleys. On the other hand, dozens and dozens of show-goers took down Mr. Minnich's address, in order to have him tell them how he manages to grow his tomatoes-which of course he will do in every case. By next season, the Minnich tomato will' be pretty well spread through the provinces, with material benefit to the table. Lesson? In this agricultural country no week should pass when somewhere there is not an exhibition in progress inviting the peasants to show the choicer fruits of their labors and awarding honors to the most highly deserving; no, not a single week, since a year itself is too brief for the 49 provinces and nearly 1,000 towns (you still have left the villages and hamlets) to run off such events. What organization can be effected to get this going? We think it superfluous to list the winners and exhibitors at the Flower Show, our readers will all have seen them in the daily papers. We congratulate all concerned, the country most, that the movement is definitely founded. - All water under the bridge, of course, but still sparkling among the kinder recollections of past years. In 1921, President Horace B. Pond of the Pacific Commercial Company employed Mr. Stevens there and made him director of imports, in which the company had become leaders. He stayed there until he withdrew in 1932 to found the company that bears his name. After a year at home, he will be back in harness again in Manila. But for the time being, he has accepted a current civic responsibility in the chairmanship of the American Coordinating Committee of which other officers are Vice President E. D. Gundelfinger of the Chamber of Commerce, Colonel H. Gilhouser, H. McGowan, R. D. Standish, treasurer, and R. S. Swinton, secretary. There are some 8,000 Americans in the Philippines outside the military establishment. The American Coordinating Committee whose address is Notes on Fred Stevens Continued from page 7 Box 1447, Manila, wants their names and addresses in order that the civilian community may render the military and Commissioner Sayre the fullest cooperation should emergencies of war affect the country. The Chamber of Commerce has of course pledged its fullest support, a course natural to all American organizations. Major E. Speth telegraphed the Committee support from the Baguio chamber of commerce. At this writing, March 1, there has been but one meeting of the Committee's officers, but this was followed by conferences with the military and Commissioner Sayre. The Manila Daily Bulletin's editorial of February 26 sketches the scope of what is to do: In England... community organizations have undertaken almost the entire burden of civilian defense. They have organized air-raid precaution units, volunteer fire brigades over the entire country, hospitalization for the wounded, all under local jurisdiction. This is probably the way it would work out in the Philippines, should the need ever arise. *.. The move is commendable and in a way necessary. Panic is by all means to be avoided under stress of modern military attacks, that affect the civilian along with the soldier. It is best to know beforehand what to do, what must be done, and by whom-what each man's part will be, working, as Chairman Stevens announces, with the constituted authorities. We think the best course away from panic, in circumstances that might provoke it, is reasonable and timely response to the Committee's suggestions, and especially, attendance at the meetings, and registration for duty should the time come to render duty. I The A^nerican Chamber of Commerce Journal March, 1941 11

Translation from Dr. Palma I Beginning a translation of the late Dr. Rafael conclusion Palma's commentary on the Filipino Family, in April. While still in the presidency of the University of the Philippines, some years prior to his death 2 years ago, the late Dr. Rafael Palma sent us certain manuscripts of his on the Philippines. They are in Spanish. Dr. Palma had noted some translations in the Journal of some of his other papers, and had thought of arrangements whereby we might put these papers into English. Rummaging through our desk at the close of the year, the papers he had sent us turned up. A close study is among them, the subject the Philippine family. As there is no doubt some general curiosity as to what such an eminent scholar thought on that topic, we undertake the translation. In the long course of their contact with Spanish civilization Filipinos have been radically influenced respecting religion and government, but in the domain of the family fundamental characteristics of their own have persisted with but little change. The subordination of the members to the family welfare, the relative liberty of the woman in her relations with her husband, and the extension of paternal responsibility to remote lines of consanguinity and affinity have subsisted unaltered, with but the lightest modifications. From Ramon Lala's "Tihe Philippine Islands." Philippine Feminine Finery at the Close of the Spanish Period. The change of religion and of government, it may be said, brought no material alterations in the Filipino family. Aside from the natural feeling of irritation that the change of religion and political status evoked, this effected no perturbation in the conduct of the family. Partly because FPi lipinos' religious beliefs had not been for. malized enough to make the people defend them tenaciously, and partly because the new doctrine and practices were not fundamentally dissimilar from the old, the Spanish missionaries had no great difficulty in introducing the Catholic faith among Filipinos. The rajahs and other political chiefs were the first converts, in a society where the chief's example was commonly followed by the subject, and the extension of Catholicism therefore made rapid and extraordinary progress. This wrought no fatal consequences in the Filipino family, notwithstanding the rigor with which venerated idols were destroyed. The reason is, the destruction was not complete. The conception of Bathala Maycapal metamorphosed into belief in the Christian God, Creator of heaven and earth; the hierarchy of the saints of the Roman calendar and the familiar idols of the Filipinos were themselves supplanted by wooden and plaster images, rosaries, crucifixes and pious books that left Filipinos free to adhere to old idolatrous beliefs in the depth of their consciousness without outward practice of their pagan cults. But even in its practices, the new religion differed little from the old. In cases of death and illness, for example, Filipinos were taught to avail themselves of the mass to effect the salvation of the soul. What we have said concerning religion may also be said of government. The Spaniards' conceptions relative to society and politics differed little from what they found Filipinos practicing. The innovators had an aristocratic military class, so had the Filipinos; and like the Filipinos, the Spaniards divided society below the military aristocracy into plebes and slaves. In short, the Spaniards found the Filipinos' social and political regimen of a pattern with their own, there was no need to modify it. In common with the other peoples of the Orient, the Filipino family's sense of solidarity constituted veritable union. The debts of parents were transmitted and had to be paid by their children, failure to pay entailing slavery, and punishment falling not merely on the person culpable, but also on his family. Filipino fathers exercised I I cenwcai Bee4 is 2Best! Pabst Blue Ribbon Beer A Is the leading American Beer! Drink the beer that proudly wears The Blue Ribbon. KUENZLE & STREIFF, INC. | =4 Main Office: 343 T. Pinpin Tel. No. 2-39-36 MANILA CEBU ILOILO ZAMBOANGA Store: 44-48 Isaac Peral Tel. No. 5-77-43 12 The American Chamber of Commerce Journ'al March, 194N (

the husband realizes his earnings are safest in her care. It happens commonly that the husband must ask money from his wife for his personal expenses. Become a wife, the Filipino woman abandons devices to make herself personable to others; from the day of her marriage she renounces all social pleasure and diversion, and makes every imaginable sacrifice to please her husband. The Church, without doubt, introduced orderly customs and high ideals, but these ideals, being foreign, were often given a false color and an exaggerated importance in practice. The virtues that were most esteemed in woman came to be excessive modesty and [Continued on page 38] Raon la's "Th I ppe sld. From Ramion Lala's "The Philippsinc Island.;s." The Spanish Fleet Defeatec absolute authority over their children, whom they educated in filial piety; this was not a work of Catholicism, but a continuation of the ancient culture Filipinos inherited from their ancestors. One of the most notable aspects of family culture among Filipinos is the position of relative freedom always enjoyed by the woman within the precincts of the home. It is often said that woman's place in Filipino life has been elevated by Christianity. It is indeed elevated, but Christianity had little to do with it; the Filipino woman was less subordinated and more independent of her husband's will prior to Christianity's advent in the Philippines. The truth seems to be that Christian doctrines and practices had the gradual effect of subjugating the Filipino woman to the will of man, in accordance with St. Paul's teachings, until both by precept and law she became completely submissive to her husband's authority. J by Dewey at Manila. The ancient independence of the Filipino woman in the family probably had an economic origin. The man constantly occupied in battle, the woman had to rely on herself to support the family. To this hereditary influence is attributable today, the Filipino woman's broad privilege to engage in activities gainful for the family; she is beside her husband in the field, helping with the tasks of agriculture; or she is selling fruits and vegetables at the markets; or if her husband is employed at low pay, she gains something from the arts of the seamstress and fine needlework; or making herself the proprietress of a little shop, the typical tienda, she is tirelessly occupied in doing something to stouten the family resources and pecuniarily assist her husband. So it comes naturally about that the husband makes her the custodian of the family purse. She is so economical and so interested in the happiness of the home that IN THE GRIP OF CONFLAGRATION TIDE WATER ASSOCIATED OIL COMPANY Refiners and Marketers of Flying -A-m Gasoline Tydol and Veedol Motor Oils Mabuhay Kerosene Avon Diesel Fuel Oil I The fire demon is no respecter of people. He seizes what he can without pity. The poor and wellto-do suffer alike when the demons hot breath reaches them. Nothing can stop this merciless fiend. Only through adequate fire insurance coverage may one protect himself against his ravages. It's good business foresight to be fully protected against fire hazards. Why not let the Philippine Guaranty Co., Inc. tell you about your insurance needs? Call or write today. It may be too late tomorrow. (P IPHILIPPINE QOAUARRANTY-C!IK INSULAR LIFE BLDG6. TEL. 2-24- S P.O.BOX 126 MANILA, PHILIPPINES 1 -i M-^asisaasia sa^^^a: l JH.f~~U anSub[d^ - X^^^^ I _ EEt u i *_. XIB.'^^BIHk~Li~i The 'in ericanm Chamber of Commerce Journal Aa,rh, 1941 13

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Hydraulic Gold Mining in Surigao Aaron Parry applies California hydraulic methods in highgrade placer and trains Filipino operatives with great success. Gold that occurs in a placer formation is usually recovered by dredging as at Coco Grove, or by operating a dr'ag line for excavating the gravel and subsequently transferring it to a floating scow where the gold is caught on tables and riffles. There is a third method, more picturesque and where conditions are right, lower in operating cost than the others, known as hydraulicking. This depends upon breaking down a gravel bank under the impact of a stream of water expelled from a giant under a high head and then using the water to conduct the gravel to sluices, where the gold settles against riffles in the boxes and is later recovered in the cleanup. For successful hydraulicking the mining conditions are simple, but admit of little variation. The first condition is that there shall be a plentiful supply of water available that can be piped down to the gravel bank under a high head, at least 200 feet above the giants. A second is that there shall be adequate room for tailings disposal, preferably by gravity, where the excavated material will not fill up a stream bed and not interfere with agriculture below the mine. A third depends upon the character of the gold-bearing gravel itself-it must not be too compact to be disintegrated by the giants, there must not be too much clay which would tend to carry off any fine gold, and there must be relatively few boulders that would choke up the sluice boxes. The bedrock should have a uniform slope, and not be so soft as to be cut down under the impact of the water. Hydraulic mining had its heyday in California during the latter part of the last century, when millions of cubic yards of gravel were hydraulicked at operating costs unbelievably low, in some cases for 3 or 4 cents per yard. The enormous amount of gravel that was sent down the river valleys resulted in disastrous floods and great damage to the farm lands, and caused the passage of the Caminetti Act about 1890, Iwhich practically put hydraulic mining out of business, as the cost of storage dams for tailings was believed to be prohibitive. Th Aenirrican Chamber of Commerce Journal IMarc, 1941 t Cleaning bedrock of boulders with Lorain crane......................................................... Hydratulics in Surigao Here in the Philippines there is one instance of successful hydraulicking for gold that has been in operation on a moderate scale since 1936. About 14 kilometers south of Surigao the North Mindanao Mining Company has worked its placer deposit by conventional hydraulic mining methods, washing about 20,000 yards a month when in full operation, and recovering about 40 to 60 centavos a yard from the gravel in gold. The mine is in charge of Aaron Parry, an oldtime hydraulic miner from Trinity county, California, where hydraulicking used to flourish. Mr. Parry has built up an efficient crew of operatives from the natives around the mine. The operating practice at the North Mindanao property was considered of sufficient interest by the Bureau of Mines to justify an Information Circular to be written on the subject. The gold placer that is being worked occupies a broad ridge of ground that lies between the Cansuran and Tugunan rivers, and has been proven to carry values for nearly a mile in length and about 1,500 feet in width. On the surface the ground originally looked about as unlike the conventional idea of a placer as can be imagined, as a heavy forest covered the entire area, which had to be cut away before mining operations could begin. This in itself was no small labor. Testing the ground was difficult as trails had to be cut through the undergrowth, and the ground from the test pits carried away laboriously to the nearest water for panning and estimating the gold content. This important work was not neglected, and testpits were sunk to bedrock on the corners of 200 foot squares throughout the entire area to gain a definite knowledge of the quantity and distribution of the gold. The property had certain definite natural advantages for hydraulicking. Lying as it did on top of a ridge that dropped sharply on either side to the river valleys below, tailings disposal offered little difficulty, as the waste could be run by gravity from the sluice boxes and deposited on the hillsides. To obtain a water supply, a system of flumes and ditches, totalling some 18,000 feet in length, was built about 250 feet above the site of the hydraulic operation, which brought in practically the entire drainage of the local watershed to the reservoir, which had a storage capacity of about 2,000,000 15

Hydraulicking gold placer ground at Surigao. gallons of water. No little ingenuity was shown in building the flumes which were constructed of native lumber on the property. The ravages of termites make the maintenance of these flumes a troublesome matter, as the timber lasts only a short time. Fascinating Operation From the penstock of the reservoir the water is taken to the giants through a pipeline, and is discharged against the gravel bank under a 250 foot head. Piping, as it is called, is a fascinating operation to watch. The powerful streams of water from the giants are directed against the bank to undercut it and cause it to cave. Considerable skill is needed to make the ground cave as desired, and after it has collapsed, to move the gravel toward the sluice boxes. Under the furious impact of the water boulders weighing hundreds of pounds are sent hurtling along like pebbles. A highpowered giant is a dangerous plaything. A story is told in California of a practical joke on some yokel who saw nothing dismaying in a giant and took a bet that he could cut through the stream from the nozzle with an axe. He broke his arm in the attempt. Disposing of the great number of boulders encountered from time to time in the gravel bank has been a serious problem. Those that were too heavy to be sluiced away had to be moved to one side to permit the bedrock to be swept clean by the water and this entailed considerable labor. A solution was finally found in the purchase of a No. 40 Lorain dieselpowered crane with drag line equipment. Using a sling made of iron chains, the men bar down the boulders upon it; it is then picked up by the crane which deposits the load of boulders in neat rows behind the giants. The native operators who have had no previous experience before with heavy machinery have learned to operate the big crane with an ease and dexterity that speaks a lot for their adaptability. Some gold is caught in crevices in the bedrock, but most of it is recovered in the riffles in the sluice boxes. These consist of strips of hard wood laid crosswise to the flow of the gravel in the boxes, and are covered with pieces of flat iron to protect them from abrasion as well as to give a peculiar sort of boil to the current which assists in settling the gold particles. The gold, being heavier than the gravel, tends to settle to the bottom and is caught between the riffles along with the black sand. Sluice boxes are cleaned up twice a month. At this time the giants are shut down and the bedrock is swept clean of boulders. Every crevice is carefully examined for gold particles and the whole surface is carefully gone over. The riffles in the sluice boxes are then pried up and the gold and black sands are shovelled into cans for the final cleanup. Even the lining boards in the sluice boxes are vigorously brushed with a whisk broom to dislodge any gold particles that might be attached to them. After long use the lining boards are burned, the ashes saved and panned and some additional gold is thus recovered. The whole clean. up process takes about half a day. Then the riffles are replaced in the boxes and piping is resumed for another two weeks. Exciting Cleanups Cleanup is an exciting time at the mine for it is only then that the re. suits of much hard labor and effort can be actually seen and weighed up, Until that time the amount of gold that will be recovered is more or less conjectural, as gold placers are notoriously erratic and the gold content of the gravel may vary within wide limits. The cans containing the cleanup are brought to a small stockade surrounded by wire fencing, Within is a concrete basin filled with water and around the pool a dozen native girls are seated, each with a batea, or wooden pan, in the use of which they are highly proficient. Each girl takes several pounds of the concentrates in her batea, and after a few dextrous whirls, a long rim of yellow gold peeps out from the mantle of black sand. A few more whirls, a final delicate manoeuvre of the batea, and the last of the black sand has vanished and the gold is ready for drying and weighing. The young women enjoy their work, and consider it an honor to be chosen for the cleanup. No doubt the workers in the Mint have the same vicarious feeling of being very rich. In the popular mind placer mining is usually associated with finding handsome nuggets that represent a small fortune in themselves. In the North Mindanao mine nuggets even as large as a pea are few and far between. Most of the gold particles are classified as medium to fine gold, that is, gold that is less than 1 millimeter (0.04) in size. It requires about 10 to 25 of such particles to have a value of one centavo. Only about 6 per cent of the gold recovered is coarser than 1/8 inch. Like most placer gold the fineness is about 800, and worth about 56 pesos an ounce. Hydraulic mining is generally seasonal in character, as it is dependent upon a supply of sufficient water to operate the giants. In Surigao the rainfall has averaged about 140 inches annually, with the greatest precipitation from October through March. These months consequently witness most activity on the North Mindanao property. During the socalled dry season (although rain falls every month of the year) piping depends on use of storage water in the reservoir, and short periods of shut down are necessary for the water to accumulate. f 16 The American chamber of Colmmerce Jourfll March. 1941

The Investor Encounters A Dressed-up Mine "So you and your associates are ready to buy the Lilibolero mine?" said the Engineer, as the Amateur Investor concluded his story of the bargain that was being offered him. "In that case, why consult me about it?" ''Just a formality," replied the Investor. "We're really quite satisfied with everything. But before actually signing the papers, I thought I'd like to have your opinion about it. You're probably the country's greatest pessimist, and it would make me feel a little safer to have you endorse it." "I resent that," said the Engineer warmly. "I've been in the mining business for 25 years and no man can stay in it that long unless he's an optimist at heart. Call me hard-boiled if you want to, but don't say I don't honestly try to see the possibility of another Balatoc in every prospect I examine." "All right," apologized the Investor, "but I've got my fingers crossed on you just the same. Now tell me, what do you know about Lilibolero?" "It's been a good little mine," said the Engineer guardedly, with a faint accent on the past tense. "I hope to tell you," enthused the Investor. "Been turning out about 50,000 pesos a month ever since it went into production a year ago, and making a nice profit on the capital. Plenty of ore in sight, good little 50 -ton mill, and a chance to double production. What more do you want?" "Why is it being offered for sale?" asked the Engineer coldly. "I didn't inquire particularly about that," admitted the Investor. "Might be a lot of reasons. Maybe the owners want to go into something else." "If the mine is as good as they claim, they'll prospect for a long time before they'll find a better one," countered the Engineer. "Think of a better reason." "They probably haven't the capital to put up a larger mill and increase production," answered the Investor after some thought. "So they are willing to sell out rather than give up control to outside interests." "That's better," acknowledged the Engineer. "That might be a legitimate reason. Yet most equipment companies in these days will grant pretty liberal credit to a mine that has a good record and can show an ore reserve to justify expansion. Did you inquire about that?" "No, I didn't," said the Investor rather crestfallen. "It all seemed to look so good on its operating record that I took an option on it at once. I begin to think I'd like to have you make a professional trip there and check things up." "I'll arrange to do so next week," said the Engineer with business-like alacrity. "By the way, is the mine in full operation?" "No," said the Investor. "It's shut down until my option is exercised. But all the workings are open for examination, and you can sample anywhere you want to. I --- E NGINEERING t:QEt (IP\MENT A ND1 (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies ^X. ftAAA S^ General Office: 13th & Chicago Streets, Port Area, Manila ^^^p^^" Engineering Shops: Shop Tel. 5-67-76 Mandaluyong, Rizal SUIPPLY CO. Office Tel. 2-41-41 MACHINERY AND SUPPLY DEALERS Agitators, Thickeners Air Conditioning Equipment Aluminium Castings Babbitt Metals Ball Mills Belt Hooks Blasting Supplies Blowers, Drill Press Bronze Bushings Cable Clips Carbide Lamps Centrifugal Pumps Chains, Winches Crushers, Screens Circular Sawmills Com pressors Concentrating Tables Concrete Machinery Concrete Vibrators Conveyors Cutting Machines, Contour Steel Diesel Locomotives Dredges of all kinds Drill Steel Drilring Machines Duplex & Triplex Pumps Electric Motors Electric Tools Efectrical Apparatus Explosives Fire Fighting Equipment Flotation Cells Gasoline Engines Generators Grinders Hacksaw Machines Hoists, Chain & Electric Hoists for Dump Bodies Leather Belting Logging Blocks Logging Equipment Magnetic Separators Marine Diesels Mechanical Packing Melting & Tilting Furnaces Mine Hoists Mine Wood Tanks Mineral Jigs Mining Picks Mining Shovels Nautical Instruments Oil Burning Equipment Outboard Motors Pile Hammers Pneumatic Tools Power Boats Precipitation Equipment Propellers Punches, Shears Recording Instruments Refrigeration Equipment Road Rollers Rock Drills Rotary Filters Saws, Sawteeth Shapers, Lathes Sheet Metal Tools Shovels, Buckets, Cranes Stationary Diesels Steel Tanks Stuffing Boxes Surveying Equipment Thermometers Trolleys Truck & Mine Scales Turbine Pumps Tubular Boilers Vacuum Pumps Valves of all kinds Vee-Belts Water, Oil & Gas Meters Welding Equipment Welding Rods Woodworking Machines Zinc Dust A,,, T7'h l Alcrican Chtamlhbcr of Commerce Journal Inar h, 1941 17

There are men there who can help you." "Thanks," said the Engineer shortly, "but I'll take along my own assistant. Of course I'll appreciate anything they can do for me, however. And I'll call you up when I return with my report." he finally gasped. "Ore?" replied the Engineer. "I should say there is ore. Right where you can't help seeing it. All nicely lined up for you. Literally begging to be sampled. Oh yes, I'd say the faces-those that you can get atshow lots of ore." * * * * * * * "Salted?" asked the Investor in a - - -~~~~~~~~~~~~~~~~~~ ___ _ -I _1 --- L_ _ _ "They're a clever lot of men, that Lilibolero crowd of miners," observed the Engineer a week later in his office. "Their mine is in as nice a shape to sell as any property I ever saw." The Investor's jaw dropped. "Do you mean to say there's no ore left?" sepuicnrai tone. "Not at all," said the Engineer reassuringly. "Nothing like that. A very serious insinuation indeed to make, my friend. No, no salting." The Investor's face cleared. "Then why scare me to death?" he queried, plaintively. "Aren't things as rep II II SURGE PROOF a A resented on the assay map?" "The assay map is accurate so far as it goes," said the Engineer. "But it occurred to me when I studied it that it looked almost a little too good. The face of every drift along the vein has been stopped right in the middle of the best ore. A couple of raises have been started-just a few rounds taken out-and they show good ore too. But they haven't been driven very high. There's an interesting looking winze that was sunk on the bottom level that should have given a lot of information about downward extension of the vein, but it was full of water and the pump has been removed for repairs. That was rather significant to me. Then there was a crosscut driven to cut a parallel vein that showed good ore 100 feet back, but that crosscut was filled with waste and bulkheaded. There seems to be a little doubt about the length of that crosscut —it wasn't surve-yed, and that's surprising too. "I cut a few samples at critical points in the mine to check up their averages, and in general the gold content is about in line with what they claim. But their assays from the bottom level fail to report a rather disturbing condition-that quite a lot of copper and arsenic are coming in with the gold. While it's true that the ore seems to average about 30 pesos a ton in gold, the presence of the base metals is going to create some metallurgical difficulties in milling it, and may make it necessary to redesign the mill, and to ship concentrates instead of bullion. That's going to increase costs. "Now the Lilibolero is a nice little vein with fair structure," he continued, "but it isn't consistent in its values for its entire length so far as exposed. The payable ore occurs in lenses on the vein, and these lenses thus far have been about 200 feet in length. They work through a lens, then drive some distance in unpayable ground, and then encounter another lens. Something like links in a chain of sausages. Well, they have worked out two of these lenses and have encountered a third. If this one has about the same extent as the others, their present workings are now located in the very best part of it. And it is an excellent time and place for them to point with pride to the ore and offer the mine for sale. Another 50 feet and the picture might not be so attractive. In other words, Mr. Investor, Lilibolero is a dressed-up mine, all set for a beauty contest." "Crooks," said the Investor bitterly. "Nothing of the sort," the EnginThe American Chamber of Cozinncrrf.Journal March, 194! DISTRIBUTION TRANSFORMERS Specify Type "CB" Allis-Chalmers Transformers For Continuous, Trouble-Free Service For the "Inside Information" On Distribution Transformers, Write for Bulletin No. 1 173. THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, P. I. P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu - - 18 (

eer contradicted. "So far as I know, the owners have not made a single false statement about their property..Maybe they haven't told all they know about conditions, but it would be something new in a horse trade or a mining deal for the seller to itemize all the weak points in his proposition and beg the possible buyer to consider them before he purchased. The owners of Lilibolero as I said before, are smart hombres. They want to sell something and like good salesmen they dress it up. All perfectly legitimate. I rather admire the way they've gone about it." "Would you do it?" asked the Investor. This was a mean attack and caught the Engineer off guard. "Well, that's not a fair question," he parried. "Perhaps I've been giving you a onesided picture of Lilibolero. There are many cases on record where a mine has been dressed up for sale, the owners believing that the end was in sight or at least just around the corner, and were bitterly chagrinned when the purchaser found a new and better orebody in an unsuspected place. After all none of us can look into the ground. We can use our best professional judgment, backed by experience in similar situations, to arrive at an opinion, but in the final analysis, it's a matter of driving drifts and crosscuts to determine if we are right. I've said that I think this new lens of ore that they have will be like the others, of limited extent, and I feel pretty sure that the owners think the same way about it. But we both may be wrong. Only development work will tell. It's a gamble as it stands today." "Well, what do you advise?" "Don't buy the mine outright at the present time," counselled the Engineer. "Take a lease and bond on it, that is, make a small cash payment down, then let the mine pay for the rest of it on a royalty basis. If the present owners really believe the mine is worth all they ask, then they have nothing to lose from such an arrangement, aside from being obliged to wait a longer time for their money. But if they know that their price is unjustifiably high they will refuse to accept such an offer, and then they give their hand away." The Investor thought it over a few minutes. "Not such a bad plan," he admitted. "You know," he confided, "despite all you say, I like that mine". "It's your money," said the Engineer. "And I don't want to be reSponsible for your turning down Something that may be profitable. Por it's been my experience that a ^mhe 4teriean Chamber of Conmmerce Journal farch, 1941 client will forgive me for making a mistake in recommending a poor mine, but he will never forget nor forgive me if I refuse to recommend something that later turns out to be a bonanza." A well known consulting engineer gives the following figures from his own experience: One in 3 properties submitted is worth a casual examination; One in 10 examined is worth a little development; One in 6 developed can be made to show a small profit; One in 4 of the profitable group will be a great success; or one in 260 -300 of those examined. A trend toward lowering the alkalinity when milling with cyanide solutions has been noted in gold mills of the United States, and has resulted in many cases in a higher gold extraction. Replacement of lime by causterized starch is advocated. In western U. S., Alaska, and the Yukon Territory, about 125 bucket-line gold dredges are now operating, with costs from 3 cents per cubic yard upward, depending on gravel conditions, bucket-size, and yardage. Many dredges operate at better than 22 hrs. per day. L TODAY'S MOST MODERN DIAMOND CORE DRILL IF you've done diamond drilling, you have probably asked yourself "Why doesn't someone build a drill with oil-hydraulic feed and sensitive controls; with one gauge to read bit pressures, with a drill head that swivels through 360~? A drill with two drilling and hoisting speeds, using an automotive type transmission. A drill using ball and roller bearings throughout, and available in all types of drive." Ingersoll-Rand presents herewith that drill. COROC has all of these and many more desirable ^f features........ FASTER DRILLINGWITH MORE TIME FOR PRODUCTIVE DRILLING By employing a duplex pressure gauge in which both scale and pointer rotate, the Master Gauge reads directly the pounds pressure on the diamond bit at all times. No other diamond core drill provides the spindle driving power, the smooth and precise bit-pressure control, and the diamondsaving accuracy of the I-R Master Gauge. The high drilling speed of this machine insures many more feet of core per shift. In addition the hoisting and lowering of tools is speeded greatly by COROC's fewer and more practical hoist controls, and by the convenience of the two-speed transmission. AK I 19

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940, complete and for January 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. IXL MINING CO NORTH CAMARINES BAGUIO GOLD i~~C ~CCC~~fH.___ U9 lZ01 m -- - T -Q 1 Lwuman tlml U AA.-n.. - IPO CAL HORR EAST MINDANAO 1i - ANTAMOK

i i i SUYOC COCO GROVE DEMONSTRATION - ----— m~~m~~atI 10-1 I I / MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAUS 2a0o( 4f0~ The Mining Industry-Tabulated Statistics Courtesy-Chamber of Mines of the Philippines DECEMBER 1940 JANUARY 1941 TOTAL PRODUCTION CAPITAL DIVIDEND Tonnage Value Average 'Tonnage Value Averagt- 1940 an. '40 Authorized Paid Up 1940 1989 Antamok Goldfields 19,340.03 P 227,240.83 P11.71 20,309 P 204,687.06 P10.08 P2,630,544 P 196,34383 P3.000,00000 2,750,000 0.01 0.036 Antipolo 718 15,837.41 22.06 641 41,709.93 65.07 108,717 — Baguio Gold 11,770 197,291.40 16.76 12,130 199,459.68 16.44 2,226,682 162,732.20 2,000.000 1,299,00 0.03 0.02 Balatoc 63,042 1,101,589.66 17.47 65,889 1,144,741.40 17.37 13,417,327 1,041,949.46 6,000,000 6,000,000 0.70 0.80 Batong.Buhay 2,705 111,539.40 41.23 3,003 131,272.81 43.72 270,621- --- - - Benguet Consolidated 40,194 962,773.38 23.95 40,290 913,949.68 22.68 10,990,624 918,465.28 12,000,000 12,000,000 0.60 0.8 Benguet Goldfields 2,441 32,407.00 13.28 2,568 43,952.00 17.12 616,855 37,984.70 200,000 200,000 - Big Wedge 6,854 227,394.76 33.18 6,745 191,068.02 28.33 2,114,104 163,234.92 2,000,000 777.612.10 0.04 0.04 Cal Horr 7,662 150,452.88 19.64 7,343 116,726.34 15.90 1,445,507 76638.32 WHOLLY OWNED BY B.C.M. CO. Capsay 4,911 71,688.00 14.60 5,421 59,906.74 11.05 1,069,835 141,152.82 1,000,000 1,000,000 - Crown Mines 1,218 15,322.00 12.50 370 4,532.00 12.25 135,910 17,887.36 1,000,000 636,000 - - Davao Gold --- -- 4,063 61,403.12 15.12 -- Demonstration 4,196 52,801.00 12.58 4,512 53,424.00 11.84 499,828 59,777.94 1,000,000 1,000,000 - East Mindanao 3,967 63,691.89 16.06 4,281 71,354.00 16.43 764,737- 1-,000,000 920.000 -.01 Gold Creek 308 5,400.25 17.53 643 10,247.76 15.93 160,523 9,419.16 1,000,000 700,000 IPo Gold 6,240 55,655.05 8.92 5,281 39,945.71 7.56 721,159 98,172.82 1,000,000 819,693.70 - 0.025 Itogon 27,408 453,670.58 16.55 27,176 454,195.16 16.71 5,370,449 405,789.10 2,500,000 2,500,000 0.04 0.04 I. X. L. 13,272 249,128.30 18.77 13,865 249,362.80 17.98 3,078,779 272,980.64 1,600,000 1,500,000 0.08.09 Layog 633 6,347.28 9.57 - _126,656 - -- Macawiwil 2,000 16,000.00 6.00 - 357,650 43.513.2; 1,600,000 324,938.06 - - Mapaso__ -.1,500,000 429,200 - Masbate Consolidated 108,775 586,372.82 5.39 109,756 364,377.70 5.14 6,372,308 513.906.26 5,000,000 5,000,000 0.02 Masbate Gold -31,271.76 - Mayon Mining 1,372 30,237.02 22.04 1,739 37.673.07 21.66 457,798 -- Mindanao Mother Lode 7,227 225,229,23 31.16 6.959 219,508.36 31.55 2.183,328 160,538.00 2,000,000 1,130,000 0.01 M ai J"e-o_ _ rc.r... "I... - -.... * - - - - -...____. - Irmitne Nortl Nort] Para( San 8ant~ Surig Soyo( Unite ral Kesources h Camarines Hern Mining 2,906 40,014.34 13.77 2,837 76,873.69 27.10 2,282 57,430.78 25.17 3,465 3,750 2,502 49,176.53 14.19 78,382.01 20.90 67,930.46 23.15 415,944 1,51.0,104 668,530 17,0213.11 2,000,000 1,160,149 192,270.34 1,000,000 1,000,000 50,198.00 - cale Gumaus 6,159 214,570.33 34.84 7,079 198,882.42 28.09 1,917,695 120,310.33 500,000 500,000 0.045 0.005 cale National 730 23,191.17 31.77 901 19,810.03 22.00 340,087 26,067.25 1,000.000 848,600 - Mauricio 16,091 470,986.40 29.57 17.159 440,369.48 25.66 5,988,405 557,420.91 2.000.000 2,000.000 0.07 0.135 a Rosa — - 4,155 72,823.44 17.36 852.857 62.471.85 1,500,000 1,500,000 - - Mao Consolidated 9,988 206,215.00 20.65 11.078 211,426.00 19.09 2,182,172 151,791.08 1,200,000 1,022.975 0.04 0.01 e Consolidated 7,420 186,923.58 25.19 7.698 187,076.57 24.30 2.002.082 162.342.59 1,250,000 1,250,000 - 0.01 sure Island 5,296 179,910.02 33.97 7,590 218,994.22 28.85 1,504,545 75,479.02 - - ed Paracale 11,038 288,364.20 26.12 11.078 288379.31 26.03 3,265.657 257.837.15 100.000 1,300.000.02 0.04 - IT A r 0.0 li 5 Coco Grove Mindanao Mining North Mindanao Tan.bis LePanto RIlxbar landaon Operation Osolidated Mines 305,79'5 62,388 14,000 19,927 11.400 3,947 4.500 104,500.04 0.6? 38,575.04 0.62 3.426.20 0.24 10,256.00 0.51 280.578.03 0.84 147,757.78 - 54.000.00 -- 343.310 76,000 31,000 25,763 12.400 4,5,90.6 10,000 1.147.89 PLAUCER 116,975.71 0.34 57,070.42 0.75 15.303.20 0.49 13.5136.60 0.52 BASE METAL 277.750.08 22.40 153,404.06 33,41 120,000.00 12.00 29.466.34 25.59 1,617,465.49 116,448.00 98,319.00 120.628.00 2.802.658.24 828,342.00 954.971.00 139,020.14 1,500,000 1,500,00 __._____. ~~~~~~~~~~~~~~~~~~~~~~~~-.015 0.02 0.006 0.04 204,301.98 1,750.000 1,050,000 0.085 0.04.~~~~ Tih American Chamber of Commerce Journal Marh. 1941i 21

The Stock Markets -- By Ovejero & Hall MANILA-February 15th Apprehension over War developments, with particular emphasis on apparent deterioration in the Oriental situation, has been the dominating market factor during the past month, consequently prices have again sagged off under the influence of small scale liquidation in an empty market. The M.S.E. average at the close of business today stands at 42.56 off 5.73 as compared with a month ago. With the exception of Baguio Gold which is up 1/4~ at its closing bid level today of 141/4~, Atok and Surigao Consolidated which are unchanged from a month ago, most leading issues show losses ranging from 5% in the case of Itogon to 20% in the case of Benguet Consolidated in which business has been transacted at P3.50 following removal of the Peg restrictions on unlisted securities on February 14th. Total number of shares traded from January 17th to February 15th inclusive amounted to 24,440,263 valued at P834,434.61 as compared with 26,433,330 valued at P1,270,910 during the previous month. The Short position remains unchanged. Prices prevailing in the market reflect pessimism and great caution. Such conditions are the exact anti. thesis of the gay abandon of the lat. ter part of 1936, when extreme op. timism prevailed to the exclusion of all other factors. Somewhere between these extremes lies reason. Today it is possible to invest funds in a well diversified list of producing gold mining companies and obtain a yield of 25% to 30C% per annum. If share prices are judged by the accepted method of valuing equities which has prevailed in the world up to now, it is obvious, therefore, that earnings are, currently, being capitalized at unreasonably low levels. As yet no immediate change for the better in market conditions is indicated, but the throughly deflated scale of values existing in the market provides one of the basic requirements for the broad recovery which will materialize with any return of confidence in the Oriental situation. pD PROTECT THE ENGINES AGAINST WEAR AND BREAKDOWNS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS NEW YORK-February 15th Without experiencing a single million-share session, Wall Street has registered fairly wide losses during the past month. Market fluctuations as registered by the Dow Jones Industrial and rail averages have been as follows: - Industrials...... Rails........... Industrials...... Rails............ J F Closing Quotations fan.16 High Low 129.93 129.93 117.66 28.70 29.67 26.54 Change eb. 15 Points %/ 118.55 11.30 8.76 26.65 2.05 7.14 ALWAYS CHOOSE DE LAVAL PURIFIERS THEY GIVE THE HIGHEST DEGREE OF SEPARATING EFFICIENCY Sole Agents KOPPEL (PHILIPPINES) INCORPORATED The market action has been characterized by a gradual, sustained, sagging tendency devoid of rallying power, but, at no time, has shown signs of assuming the characteristics of a broad liquidating movement. The approach of spring, carrying with it the threat of an early Blitzkrieg against Britain is possibly the most immediate ominous concern of the financial world. But the "all out" industrial effort to aid Great Britain which is converting the U. S. economy from a peace to wartime footing, plus the chances of eventual active participation in the war, which threatens to spread to the Orient, is scarcely of less import in attempting ILOILO MANILA CEBU 22 The American Chamber of Commerce Jourm March, 191 ( I A

I i to assess the future outlook for security values. Temporarily in the background from a headline standpoint is the matter of increased taxation. Howev-er, a study of individual price movements during the past month sug(ests that this subject is still receiving close attention from investors, as favorably placed issues from a tax standpoint have, with few exceptions, best resisted the down trend. Also on the negative side are recenlt labor demands for higher wages. In this connection a well informed Washington source recently stressed that maintenance of labor morale is ai vital factor in the domestic defense program, and intimated generally higher wages without corresponding price increases. This may mean declining earnings, as increased volume mav not wholly absorb the rise in costs. These factors and many more, meantime, combine to produce an atmosphere of apprehension and cau'ion ill the financial world. Excellent corporate earnings are being largely ignored, as has happened in the past during periods of great uncertainty. The Stock Market, however, is well aware of all of the foregoing, and is undoubtedly following its time honored practice of discounting coming events well in advance. It now remains to be seen if the present grim appraisal of common stock prospects will be justified by future happenings. Looking for a moment at the technical structure, we find that by breaking the minor lows established during December and January respectively the Dow Jones Industrial and rail averages, according to Dow theory, have extended the secondary down trend which commenced at 138.12 and 30.29. From a primary standpoint, of course, the critical points on the downside are 111.84 and 22.14 established around the middle of 1940. It is of importance to note that the break out of the five months trading range on the downside was accomplished on no significant increase in volume which is a constructive factor. United States amounted to 663,112 fine ounces in November compared with 621,762 fine ounces in October. In 1939, November production dropped to 496,004 from 618,081 fine ounces in October. With the exception of August and September, each of the first 11 months of 1940 showed output gains as compared with the corresponding month of 1939. Output of the first 11 months amounted to 5,364,181 fine ounces, worth $187,746,335 at the current $35 gold price, compared with 5,108,149 fine ounces, worth $178,785,215, in the corresponding period of 1939, a gain of 5 per cent. Statistics on world output available through September to November indicate that 1940 will have established a new high record for production throughout the world. In the first nine months world output was running 6.5 per cent ahead of corresponding period in 1939, the previous banner year. Excluding Russia, for which no data are available, world production in the JanuarySeptember period was estimated at 27,163,000 fine ounces, valued at $950,705,000, compared with 25,502,000 fine ounces, worth $892,570,000 in the same period of 1939. -Manila Daily Bulletin L "YOU CAN BET YOUR LIFE" ON EDWARDS SAN FRANCISCO-CALIFORNIA - MANUFACTURERS OF Plow Steel & Sterling Steel Regular & Pre-formed - WIRE ROPE - WE CAN FURNISH YOU WITH THE FACTORY RECOMMENDATION FOR THE PROPER WIRE ROPE TO SUIT ANY - KIND OF SERVICE - Gold Production In 1940 Higher Although there was the usual seasonal decline in gold production in the United States during November, the decline was less than half as great as in the same month of 1939 and production figures continue to run well above the previous year. The American bureau of metal statistics reports total production from mines in the The Amnerican Chamber of Commerce Journal frch, 1941 EXCLUSIVELY REPRESENTED By MANILA MACHINERY & SUPPLY CO., INC. Tel. 2-24-58 MANILA, P. I. P. 0. Box 607 23

'II ^,,I | - -EMN S;r Harold Cogsweli was a recent IMan visitor from Paracale. * * * P. Lewis has left Suyoc Consolidated and is now at Balatoc. * * * J. Boswell in now in Zambales with the Phil. Iron Mines. * * * "Tex" Mundell is now working as mint foreman at San Mauricio. * * * i I I I, -, A. H. Wickman has been transferred to Batong-Buhay. * * * J. Casanovas is now in Nueva Ecij.L with the Philippine Iron Mines. Louis Bartholomew returned on the Pres. Coolidge from a vacation in Hong Kong. * * N. A. Fittinghoff left on the President Coolidge for the States. 0 F. Berkenkotter recently returned to Ma. nila atfer a States vacation. * * Tom White is leaving shortly for a visit in the States. * * * R. Heinrich, recently married, has left Suyoc and is going to the Braden Copper Co., in Chile. * * * Seaton Foley, of Atkins-Kroll & Co., Inc., now with the U. S. Navy, is engaged in construction work in Cavite. * * * Claude Russell and J. Wiliamson have been in B-tsuanga working for the Luzon Stevedoring Company. Claude Fertig, of the Capsay Mining Company, was a Manila visitor for a week. * * * Frank Morehouse returned on the California Clipper from the States where he has been purchasing some new equipment for the Atok mill. * * * Don Young and Gladys Doyle were married in Manila and after a honeymoon in Baguio returned to Paracale where Mr. Young is general superintendent of the North Camarines Gold Mine. I INTERNATIONAL DIESEL POWER UNITS Cut Power Costs Millions of hours of work is the practical endorsement behind International Power. When the need for industrial power arises consider the proved performance of International Power Units. They have become a most important faictor in many businesses. Every International Power Unit bas quality and endurance down to the last detail. For stationary work these rugged, dependable engines are built into compact power units that can be used with equal success under all operating conditions. The International line includes 4 and 6-cylinder power units with sizes ranging up to 100 horsepower. These engines are backed by International Harvester's more than 35 years of experience in building engines, tractors, and motor trucks. Whether you build or use heavy-duty equipment... International Industrial Power warrants your investigation. Write for catalogues and information. In an effort to conserve tin, the British Ministry of Supply has prohibited the use of tin containers for such articles as shaving sticks, cigarette, face powders, etc., and the public is being urged to return all used tins to authorized agencies. While beryl ore sells for only $50 per ton, the beryl alloys are worth up to $15 per pound, and find a ready market for use in manufacture of springs for which they surpass any other material in fatigue resistance. The Guleman chromite deposits of Turkey are reported to be the most extensive deposits of high grade chromite in the world. Ore from these mines averages about 50 per cent chromic oxide. The African Gold Coast is an import' ant source of manganese ore. Based on early production during 1940, it is likely that total output exceeds 500,000 tons an' nually. I INTERNATIONAL HARVESTER COMPANY CEBU ILOILO BACOLOD OF PHILIPPINES MANILA DAVAO BAGUIO LEGASPI I I 24 The American Chamber of Commerce Journal March. 1911 /

I "O Locm and United States: P4.00 per yea, Foreign Subscription, $3.00 U. S. Currency. pc:e Subscri ptor 4 V/, A -..I. ' / '/ ' A,-^ mt, ILERIC~l!^ -^, March, 1941 @'K; Vol. XXI, No. 3 Single Copies: 35 centavos WALTER ROBB Editor and UaneQer Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. 1. Just Little Things Pan American Airways has adopted a pension plan affecting 6,000 employes in the United States and 49 countries and colonies, the fund jointly accumulated by the company and the employes and aimed to provide a pensioner 60% of his annual pay averaged over the normal period of active employment. Purpose: "To assure a constantly active progressive organization, there must be means of advancing qualified young men and young women into positions of increasing importance and responsibility..... there must be regular retirement for older employes." *c * * Concerning cordage hemp and its proportional production in Luzon and Mindanao (Davao), the subject of a January editorial, November balings were approximately as follows, in Davao: Grade Bales % C&D 38 8 E 250 31 F 2,767 76 I 9,960 94 J1 12,796 94 G 9,530 71 S2 5,165 71 S3 5.767 87 Frankel's bookplate collection was a recent exhibit. We found it interesting, as was the owner's little essay on ex libris, or bookplates. These book markers are engravings of sizes suitable for pasting on flyleaves of books, an inscription, often in Latin, attesting ownership of the book by the man whose bookplate is in it. You get an artist to design the plate, then have it engraved and copies printed. We would have had this done ourselves, for the few books we own, but could never quite decide on a design. We doubt that an Oklahoma summer wind off the Texas prairies, searing and 'drying everything to dust, as man himself and all his cherished possessions will one day be dust, could be transmuted into a bookplate macabre enough for our malignant taste. Maybe 1941 is a bad year in which to dwell on bookplates. But if you will have one, contact artists at the University. Bookplates, Dr. Frankel says, first came into vogue in Germany in the latter part of the 15th century when printing was ycung and books costly. In the 18th century, when higher learning was widespread in the American colonies and more so in the United States into which they erected themselves, bookplates went there. George Washington, no bookworm, had one. It is of passing interest to know what its motto was: Exitus acta probat. Dr. Frankel translates, Success Justifies Deeds, and another way would be to say, the end justifies the means. Dr. Frankel's oollection contains some 450 specimens. * * * When we were in St. Luke's quarreling with cystitis, a friend inquired I As was said in January, of the very highest abaca grades little required for cordage, e.g., C & D grades, and even E, Luzon provides the larger quantity. But of the staple U. S. cordage grades, Luzon provides hardly 25%; of some indeed, not 6%. As the Navy wants stocks of the cordage grades, November balings show where it must get them. * * * Throughout the academic year June to March the University of the Philippines has frequent art exhibitions entirely worthy of visits from the general public. Dr. Walter K. The ainerican Chamber of Commerce Journal Marc'h, 1941 25

for data on the Caroline and Marshall islands mandated to Japan after World War I, and Director Eulogio Rodriguez of the National Library dug him up the information. The Britannica calls them the third western Pacific archipelago: the Carolines, the Marshalls, the Gilberts including' Nauru and the Ocean islands, the Elice islands, Rotumah, and the Fijis. The Carolines lie between 5~ and 10~ N. and 135~ and 165~ E. Administratively they divide into the eastern Carolines and the western. Truk and Ponape are the larger centers in the eastern Carolines, and in the western, the Pelews and Yap. Population has rapidly grown under Japan, should be now about 70,000. The climate resembles that of the Marianlas. Copra is the primary export and the tribes are good farmers and navigators. The fauna is that of the Marianas, where America holds Guam and Japan the others. The Marshalls are 2 parallel lines of atolls northwest to southeast between 4~ and 15~ N. and 161~ to 174~ E;. Radak is the northeast line, 15 islands. Ralik is the other, 18 islands. The area is 160 square miles, opposed to 380 square miles in the Carolines of which 307 are comprised in Ponape, Kusaie, Truk (or Hogolu) and Yap. Captains Marshall and Gilbert, British, explored the Marshalls and the Gilberts in 1788. Spain once had missions over this vast area of the Pacific and sent station ships from Manila to supply them. Her claims dated back to discoveries by Toribio Alonso de Salazar in 1526, followed by Diego de Rocha's and Alvaro de Saavedra's 1526 and 1528, with wider surveys by Ruiz Lopez de Villalobos from 1542 to 1565. The islands were of no material use to Spain, a century of indifference ensued, until Francisco Lezcano rediscovered one of the islands, Yap it is thought, in 1686 and named it Carolina for Spain's reigning monarch, Carlos II, a name that spread to include all the Carolines, the Pelews, the Marshalls, and the Gilberts, the Marshalls and the Gilberts also keeping the names of their British discoverers. Under Wilhelm I, Germany began taking over these groups through occupancy, and approaching inexorably to Borneo and the Philippines, annexations taking place in 1885-1886. Spain appealed to her protector, Britain, when further encroachments ceased and, in 1889, Germany passed Spain money for the islands. It was as German islands that they fell to Japan under mandate at Versailles. * * * The U. S. Department of Agriculture's resources in authentic publications are constantly astonishing. There is no reason why any American, to whom most of these publications will be sent free on request, and others at a nominal charge, should remain short icf the equivalent of a liberal education; he can get it out of these books, pamphlets, bulletins, and periodicals. For example, we have before us Volume IV, No. 11 of the department's periodical Foreign Agriculture, that comes to us as an exchange for the Journal. The subject of this number is Italian Agriculture. Treatment is full, and illustrated with tables, graphs, and pictures. Through it we have traced the course of Mussolini's Battaglia del Gra*?o: Battle of Wheat. May we quote: "In the early stages of the campaign government measures to encourage production (of wheat) consisted of granting credit facilities to wheat growers, building warehouses and grain elevators, reducing rail'road freight rates, financing wheat experiment stations, and, above all, maintaining Italian wheat prices above world market levels. Prices were maintained by imposition of imp3rt duties and in recent years by fixing domestic wheat prices and by The American Chamber of Commerce Journal March, 19 1 I i i 41 1 1 11 1 1 1 c r t i i I El cI,I I I i I I I I I I I I I A GOOD IDEA-m0 IT RIGHT AWAYI PEOPLES BANK AND TRUST COMPANY 605 DASMARIhAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac. t I I e t S t I t t r A 26 (

41 11 I i I I i I I I I i I I strict government control of the \wheat trade." The denouement, a si d e from some considerable temporary upping of wheat production chiefly on lands gradually changing into dustbowls, "Italian consumers have had to pay betweven 3 and 4 times the world price of rwheat... (and) there has been a decided reduction in recent years in Italian wheat consumption," a phenomenon surely accompanied by rapidry increasing population, now some 45 million. The nice words of the report really mean that Italy hungers for bread, the Battle of Wheat has been lost, an adequate explanation in itself of why 35,000 and more Italians are captured at a clip in Libya, and along with them, sometimes as many as 1,600 officers. Mussolini is making them fight their friends: lthe De Gaulle French, the English, and really us Americans, for the blessed privilege of paying his state monopoly 3 and 4 prices for bread and spaghetti. Mrs. Hilton Carson died Monday night, March 3, at the Carson home in Parailaque after nearly a year's hopeless illness that had driven her to bed in April, 11 months ago. Though such was her condition, her willpower never yielded the field until just a day or two before the end; her fight to live on, and she had lived usefully and unselfishly during a long life, was the most gallant one that ever came to our notice. The field finally lost, she stipulated the arrangements that should be carried out. Quite as she had wished, the memorial services Wednesday afternoon, March 5, over her ashes, at the Episcopal Church of St. Mary and St. John were ritualistically simple and correspondingly impressive. She had not feared to meet the Reaper, but she had struck her colors with honor: she had done as the Maker wishes all of us to do, and gone ahead with high faith in what there is to come. Mrs. Carson had come to the Philippines from Montana in 1901 as a teacher. She had been a county superintendent in the Montana schools, and she held positions of rising importance in Manila's public schools until her retirement from the service in 1920. She was public-spirited in the highest degree, indeed an embodiment of the best Americanism. Among Manila charities that gained I * * * We can not foresee just what effect the current crisis in Pacific freight space may have on the tentative project for a free-port zone in connection with the new pier facilities at the North. harbor, but the zone suggestion has always inveigled us since it has seemed a reasonable development in Pacific shipping that favorable freight rates to and from Manila, in her potential character as an entreport, would eventually be arranged. It is for this reason that we note free-port news from the United States whenever it turns up. We can now report that California has not gone ahead with her project, nor has Puerto Rico, and that Alabama's project at Mobile was dropped at the request of the state governor. The secretaries, however, of the treasury, of war, and of commerce, in Roosevelt's cabinet, remain organiized into a federal foreign-trade zone board ready to work with city or state authorities on such projects; and the statute relative to creating such zones remains in force. The New York zone, at Stapleton, Staten Island, has been made very flourishng by World War II. It is reported to be clearing (and no doubt warehousing incidentally) volumes of Latin-American exports affected by the war, and at the same time has become the primary market for Sumatra wrapper tobacco formerly sold throughl Amsterdam and Rotterdam. If the zone had not existed when the emnergency rose, it is said this tobacco trade would have gone to Curacao. * * * L Yours For The Mere Asking ----The 10-YEAR UNCONDITIONAL GUARANTEE WHY ACCEPT ^ HI( l ANYTHING LESS THE FREEZING UNIT IN THE SERVEL ELECTROLUX GAS REFRIGERATOR IS UNCONDITIONALLY GUARANTEED FOR TEN YEARS FROM DATE OF FIRST INSTALLATION AND UNDER NORMAL USE. Conle in and let us tell you the remarkable story which made this remarkable guarantee possible. 0r a I MANILA GAS CORPORATION -W 1arhe 94rican Chamber of Commerce Journal 27

much from her assistance and administrative direction are the Associated Charities and the American Guardian Association, but no human need, however informally presented, went unrequited by her Christian solicitude. Condolences are extended the widower, our friend Hilton Carson, and a niece surviving in the homeland. Mrs. Carson, who lived so long and graciously among us, always setting an example of the most inspiring character, had no acquaintances but the sincerest friends. * * * Changes in the land transportation business have been affected by the retirement of Judge Lot Dean "L. D." Lockwood from active business. A note from Judge Lockwood on the eve of his getting away to San Francisco on the clipper California tells us that his law office opened in Manila in 1926 will not be closed, and that he may be back in the Philippines again, but that he is making no plans. His San Francisco address is 2770 Vallejo; he is only 59 years old and quite too active a man to think of actual retirement, so we surmise that since his career has been in this country since 1902, when he came here a teacher, he is likely to be back here again-at least periodically. Judge Lockwood was in at the his resignation in January this year, at the annual meeting. He was the president of the company from 1926. the year the late A. L. Ammen moved from the Philippines to California. through 1940, a period of 14 years. R. F. Rawson, who has been vice president of the company, succeeds Judge Lockwood as president. Colonel Harry Andreas succeeds Lockwood in the presidency of the much younger, but equally flourishing, Pampaniga Bus Company, Pambusco, of which Colonel Andreas has been the general manager and treasurer with headquarters at San Fernando, Pampanga. Judge Lockwood and Colonel Andreas organized the company in 1928, and Colonel Andreas has been the manager from the outset. When the Ammen company was organized in 1914, its capital was P110,000. When Ammen gave the presidency over to Judge Lockwood in 1926, the capital was P300,000. The present capital is P1,000,000 fully paid; assets exceed P1,500,000, and dividends last year were 25%, on a gross but little below that of 1939. From 9 passenger trucks and an automobile in 1914, the company grew to 90 passenger trucks in 1926, then up to last year's 261 passenger trucks. 23 freight trucks, and 74 automobiles. when operating revenue was P2,131, Judge L. D. Lockwood founding of the Ammen Transportation Company, Alatco, in 1914. He drew the organization papers and was a director of the company until "THE GAME OF A THOUSAND THRILLS" tl JaiEVERY 1 [NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM 4 BARS ~ CONTINENTAL CUISINE \ * SPORTS * GYMNASIUM Air Conditioned For Your Confort A IL c EASTER SWEEPSTAKES Draw, April 20, 1941 SALE OF TICKETS NOW OPEN For the benefit of charity and welfare institutions of the Commonwealth Government, like the Philippine Tuberculosis Society, Associated Charities, Provincial Hospitals and National Charity Clinics. PRIZES on a sale basis of P1,000,000 ONE FIRST PRIZE OF P100,000) 1 Second Prize of 50,000 1 Third Prize of 25,000 6 Fourth Prizes at 5,000 AND THOUSANDS OF OTHER PRIZES!!! Thousands are making money by selling Sweepstakes tickets. Besides the commission they earn on each booklet of twelve (12) tickets sold at P2, they may win any of the rich sellers' prizes of P5,000 down to P100. Price per booklet, P20.24. WRITE TODAY for your appointment as authorized reseller. SAVE A LIFE AND WIN A PRIZE PHILIPPINE CHARITY SWEEPSTAKES P. 0. Box 141 National Charities Bldg. Taft Ave., Manila -- - -- -- 28 The American Chamber of Commerce Joulnag March, 1I9: (

I I,:. from operations covering 15,21,.245 kilometers and the carrying,rf 16,246,225 passengers, excluding a;tomobile passengers in the Parac!le district. Pampanga Bus is another million tpso company with quite as remarkable growth during the 12 years of its operations as that of Ammen Transportation, the much older company, in the same period. The paidLu, capital is P900,000, the paid-up capital at the beginning having been P50,000 and the authorized capital P250,000. Last year, by no means a good one for business generally, was Pampanga Bus's best year with operating revenue mounting to P1,606,596. The busses operated 12,632,624 kilometers and carried 17,386,222 passengers. Stockholders number 602. Maintaining a large land transportation line successfully in the Philippines seems to entail many cases with the Public Service Commission, for when Judge Lockwood checked up at the close of 1940, for the period since he had opened his office in 1926 in Manila and succeeded to the presidency of Ammen Transportation, he found he had handled 3,626 publicservice commission cases during that 14 years. Motor vehicles registered in the Philippines last year numbered 54,764, up 559 from 1939. Registrations of new motor vehicles included in these totals were 6,545 in 1939 and 5.575 last year, a drop of 970 units. Motor vehicle tax collections during 194( wMere P4,970,006 and in 1939 welre P5,012,913. The drop in these colitctions in 1940 was slight, only P42..t0i7, and due to a reduced registrlatilon of trucks. Trucks registered in 1939 number-dl 20,735 and in 1940, 20,236. Thi d(rop was 499, so the registration ),f,'ars alone in 19(40 was something i(:', than 1,000 above car registr'atio-, in 1939. The 1940 passengertr; K registrations were 4,369, excee 'ig' those of 1939 by 71. e 'ltre have been considerable shins in the automobile agencies of lat. S. "Abe" Shwartz, one of the bes known mlen il the trade, heads UIl:ed Motors (P.I.) Inc., handling (1h.-sler, De Soto, Dodge and Plymn,;th cars, and Dodge and Farg'o trt ks. W-illiam E. "Bill" Burrell heads Relia. e Motors, Inc., handling Buit!k Ian Cadillac cars. ) ultivo Sons handle Chevrolet pa_ 's. the Pacific Commercial Company, letins the Chevrolet cars and trucks iage. 'cy. Luneta Motors has taken over the Packard car. Insular Motors have taken the Willys car agency. Otherwise, as far as we are informed, the old situation respecting agencies stands: Bachrach Motor: Nash, Austin, and Bantam cars, and White and Indiana trucks. International Harvester: International trucks. Estrella Auto Palace: Hudson cars and Diamond T trucks. Manila Trading & Supply: The Ford line. Insular Motors: Oldsmobile and Pontiac cars, Mack trucks. Manila Motor Company: The Studebaker line. * *: We came on Marcos C. Mata at Monty's Exchange Cafe the other afternoon, where he proudly showed us an insignia in his lapel with 4 bars slanted across it representing 4 several medals and things he has for service in the U.S. navy. He was a yeoman, a good one-in fact he was one of the best, third in standing on formal examination. He is now retired subject to call, and working ashore for the De la Rama shipping company. In the World War he was a yeoman on the U.S.S. Dolphin in the special service squadron of the Atlantic fleet: convoying and that sort of thing. The ship had been Josephus Daniels's official yacht in his capacity -is secretary of the navy, but he had thriftily had her converted to a gun - --- —------- I ALH AM BRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA I I 7'1, 'iIertclan Chalmber of Commerce Journal la" 1941 29

boat status and put to practical work. Mata stayed here a long time. The Dolphin cruised everywhere, almost, and once, long after the war, excursioned clear down to Punta Arenas at the tip of Tierra del Fuego, to be there on Dia de la Raza, October 12, Columbus Day. Mata holds one stripe for naval work at Haiti, another for Yangtze river patrol work, while the fourth is for efficiency, where he scored almost 100. Toward the end he was court-martial yeoman on the Asiatic Fleet flagship Augusta. Naturally, Mata hails from Cavite; naturally too, he's ready at drop-ofhat to serve again. But next time he wants a chance at the shooting, which his good typing bars out. * * * Manila hemp has a tie-up with that small paragraph in American history titled The Alabama Claims. This we discovered in an interesting book by Dr. John Maxcy Zane, The Story of the Law, in the chapter on international law. The Alabama, the Florida, and the Shenandoah were three Confederate privateers of the cruiser type, built in England, that led the fleet of such privateers that defied the Union's blockade of southern ports and preyed on Union shipping-besides getting supplies to the Confederacy and cotton out of [Continued on page 40] I, _ ( 4 We Shall Never Surrender! "We shall fight on the seas, in the air, on the beaches, in the fields, in the streets, and in the hills. We shall never surrender!" The picture expresses the spirit of the words-poise, confidence, determination; but its aptness is underlined by a likeness to their famous author that is irresistible in its appeal. The little man is a West of Scotland baby-and his unconscious but delightful impersonation of the great statesman would, we think, draw the tribute of a smile from Mr. Churchill himself.-Glasgow Times. The picture above, bound to please all our readers, was handed to us by a British friend, W. Paterson, as a clipping from the Glasgow Times. We are glad to report that in his own enthusiasm about it, the well known Manila engraver, Adolfo Garcia, made the Journal reproduction himself and donates the expense and time involved to Britain's defense of the worldwide cause of democracy. He worked from newspaper stock and has done a fine job. I r ~aaE~ 4 incE iSSyE.... in LITHOGRAPHY * PRINTING PAPER BOXES * BOOKBINDING CALENDARS & NOVELTIES OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. C ARMELO & V AUERMANN, IN C. TWENTY FIFTY SEVEN AZCARRAGA * MANILA. PHILIPPINES ( 30 The American Chambet of Commerce Journa March. 19g1

I Sugar Market Report (January 16th to February 15th, 194.1) By Warner, Barnes & Co., Ltd. --- The second half of January saw a rather stronger sugar market than had been in evidence earlier, and prices moved upwards from 2.930< to 3.00~ with holders generally offering only sparingly, looking for still higher prices. During the first week of February, rather more pressure to sell developed, with refiners fighting shy of nearby arrivals; parcels of afloat sugars, for which prices up to 2.98~ had been asked, were finally released at around 2.94~. However, this easier tone did not last and, by the close of this period, the 3.00~ level was again established for afloat sugars, with lateFebruary-shipment Philippines asking five points higher. Trade statisticians estimated that U. S. consumption for the year 1940 increased by about 1%, and it was announced that refiners' carry-over stocks as at 31st December 1940 were 180,000 tons less than at the same time in 1939. It was also estimated that world production for 1941 would show a decrease of about 900,000 tons, the reduction coming chiefly from Cuba and Louisiana; however, European beet crop estimates are considered far from reliable. Quotations on the Exchange fluctuated as follows during the period:Low High Latest January..... 1.950 2.00~ March...... 1.980 2.04~ 2.038 May........ 2.03d 2.08~ 2.08~ July........ 2.07d 2.130 2.13~ September.. 2.11~ 2.170 2.17~ January 1942 2.12~ 2.18~ 2.17'~ Reported sales of Philippine sugar during the period amounted to 87,600 long tons at prices ranging from 2.93~ to 3.00~, and resales to 28,000 tons at 2.92~ and 3.00~. There were two separate buying moves by local exporters during the whole of this period; the first took place during the last week of January, when moderate quantities changed hands at P5.05 per picul, and the second, towards the middle of February, when a fair quantity of sugar was sold at P4.95. During the intervening periods, exporters generally were out of the market as a result of freight scarcity. The decrease in local export prices, in face of the firmer tone in New York, is due to increasing freight rates for the transportation of sugar to the United States. At the beginning of the period, the Associated Steamship Lines' Conference minimum rate was $17.00 per ton, and this was increased on two occasions by $1.00 each to close at $19.00 per ton, with actual bookings re Ported at higher than this rate. After the heavy shipments during December, in the rush to ship before incidence of the export tax, centrifugal sugar movement in January slackened off considerably; December shipments were over 136,000 tons compared with under 29,000 tons in January. The domestic consumption sugar market continued its downward course, and in the absence of actual business, quotations are practically nominal at around P4.65 to P4.70 per picul. Exports to the United States during the month of January amounted to 28,863 tons centrifugals and 3,631 tons refined. Total shipments from November 1st, 1940 to January 31st, 1941 were follows:Centrifugals...... 211,243 tons Refined............ 7,263 " Total........ 218,506 tons. The ss President Adams, fifth in the series of seven new vessels being built at Newport News, Virginia, for American President Lines round-world service, was launched January 31, with Mrs. Robert H. Jackson, wife of the United States Attorney General, acting as sponsor. Of the four ships already launched, two are now in service, on their maiden voyages around the world. They are the President Jackson and President Monroe. The President Garfield is nearing completion. The President Hayes ran aground on her maiden voyage but at press time was being refloated for early service. The President Jackson effected remarkable economies of time and fuel on her first world voyage. YOU ADVERTISING PESO YOU CAN REACH OVER 4.500,000 PASSENGERS MONTHLY By Advertisinq Inside MERALCO Street Cars and Buses. -AT THE LOWEST RATE PER 1000 READERS OBTAINABLE THRU ANY ADVERTISING MEDIUM IN THE PHILIPPINES. -COVERING THE CITY OF MANILA, AS WELL AS THE TOWNS OF PASAYSANJUANPASI6, CALOOCAN AND MALABON- THE AREA WITH THE HIGHEST PER CAPITA BUYING POWER IN THE PHILIPPINES. MANILA ELECTRIC CO. 134 San Marcelino Tel. 2-19-11 The American Chamber of Commre" Juwd Mareh, 1954 31

Coconut And Its Products (Report for the month of January, 1941) - By Kenneth B. Day & Leo Schnurmacher __ _ - _ The uptrend which marked the month of December continued until late January. The main contributing factor to the strength of the market was continued interest in copra and coconut oil for shipment to Shanghai, Japan and Vladivostok and considerable forward sales were reported to have been made during the month for these destinations from Philippine points and of coconut oil from Pacific Coast ports to Vladivostok. Prices offered from these points continued to be considerably better than quotations from the United States. Kenneth B. Day Freight rates on coconut oil, copra and copra meal to both Atlantic and Pacific it was very difficull points were increased $1.50 per long ton space for copra for al during the last week of January, the in- little business could b crease to become effective on March 1st. figure as sellers could This had the immediate effect of cutting Statistics for the r down quotations for copra as the United Arrivals: States market showed no signs of absorb- Manila, 488,3 ing the increased cost. Cebu, 403,479 COPRA-Arrivals in Manila were 20% Shipments: over the month of December but 15% less Pacific Coast than arrivals in January, 1940. Arrivals Gulf Ports, in Cebu were about the same as those for China & Japf the month of December, but 8% less than Other Count the same month last year. (Panama), The market opened with quotations at from P3.75 to P4.00 per 100 kilos resecada Total, delivered in Manila, and rose gradually to B P4.75 quoted about January 25th, with sales reported at as high as P4.90. The Stocks on hand: month closed with mills quoting P4.50, Manila, 3 with a downward tendency, but most dea- Cebu 3' lers had contracted at higher prices and were unwilling to take on additional con- COCONUT OIL-T tracts at lower levels. on the Atlantic Coasi The Pacific Coast market opened with bidding 2%4 cents to 2 $1.55 quoted and rose gradually to $1.775 of the continued advs just before the end of January. However, the local crushers wer Ieo Schnurmacher t to obtain shipping most any position and be done at the higher I not secure space. nonth follow:390 sacks ) sacks [, 16,161 metric tons 4,038 " an, 6,506 " ries 155 " away from the market and the month closed with 3% cents bid with sellers generally holding off for 3 4 cents. The tightness in the space situation, while not so acute on tank space to the Atlantic Coast as for copra space to the Pacific Coast, did, however, have some effect on forward bookings and more oil was booked for shipment to the Pacific Coast than had been the case in several months. Statistics for the month follow:Shipments: Atlantic Coast, 12,385 metric tons Gulf Ports, 9.930 " China & Japan, 1,811 " Total, 24,126 " Beginning End of of month month Stocks on hand: Manila & Cebu, 25,341 tons 17,463 tons COPRA CAKE & MEAL-The market for copra meal on the Pacific Coast improved gradually to $21.50 per short ton c.i.f. Pacific Coast, but lack of forward space made it difficult to meet buyers' positions and most sales were for futures up to June,. Statistics for the month follow: Shipments: Pacific Coast, 4,865 metric tons Beginning End of of nmon1t month Stocks on hand: Manila & Cebu, 8,532 tons 9,287 tons DESICCA TED COCONUT- Shipments of desiccated coconut were 2,621 metric tons which is some 15 % higher than January of last year, but does not indicate the activity in the desiccated market. All desiccators were working at as full capacity as they could secure nuts for their milis. With the heavy activity of desic 26,860 " eginning E f month ei nd of lonth 7,183 tons 36,604 tons 7,241 " 47,623 " he coconut oil market t opened with buyers % cents. On account ance of copra prices, 'e continually backing BE WINDOW-WISE TRUSCON-IZE!!! When you think of steel windows (and who would consider using anything but steel in this modern age) you must not overlook TRUSCON-the window with an international reputation. Steel windows to meet the exacting requirements of every type of construction from the smallest residence to the largest factory or monumental building. Philippine Distributors For TRUSCON STEEL CO. MARSMAN TRADING CORPORATION Port Area, Manila Davao - Bacolod - Paracale - Baguio - Cebu - Iloilo 9 32 The American Chamhcr of Commerce Jourtal March, 19 t1 (

I i catcrs during November and December it had been expected that demand would decrease during January, but buyers in the United States are apparently endeavoring to secure greater inventories in view of the uncertain political situation and while prices have not increased, the local desiccators are able to sell all of their product that they can produce and ship. GENERAL-While the month of January showed steadily rising prices on coconut products, it closed with a definite downward tendency because of several factors. The increase in freight rate definitely must be backed up to copra producers as there appears no chance of the United States market absorbing the increased cost. The Pacific Coast mills are apparently anxious to buy quantities of copra, but space is very difficult to secure and indications are that the tightness in the freight situation wll increase in the next two months. In addition, the political situation throughout the Far East is becoming increasingly acute and dealers in general are not inclined to take on long forward commitments. Rice Review V-isa Shipments to provinces by water Month Quantity cavans January, 1941................. 36,017 January, 1940................. 141,473 December, 1940................ 19,941 PALAY Palay could not withstand the blows it 'rceived from Cotabato rice, and the speculation behind the rise to P2.65 in Cabanatuan in December subsided as buyers reduced their offers tc around P2.45-P2.50;n January. Light business transpired at the lecline as holders resisted the drop in expectation of better days ahead. The NARIC maintained its buying price at P2.50 for Macan ordinario, delivered at Cabanatuan. m - -~ ---1:- — ~-I —I --- REMINGTON CUTLERY A complete line of POCKET KNIVES, KITCHEN KNIVES, HUNTING KNIVES, etc. America's Finest E. VIEGELMANN 460 Dasmarinas Manila, P. 1. Tel. 2-26-64 -- I (J(1anuary. 1941) By Dr. V. Buencdmino _. ',raaoer National Rice & Corn Corp. RICE To many the inconsistency of receding prices and shortage in crop has been a baffling paradox. Were the shortage actually felt because of defi" ' v cient supply, the downtrend would '! H i l have been a cause for surprise; but as long as cur-'ent equirements are met by ample sup-!lies from regions with surpluses, the efftct f the drought will not be felt. Such has:.een the case during January; rice fi'or. Cotabato and other producing dist'icre in the South became a glut in the mari t, selling as low as P5.20-P5.25, below:ie parity of palay in Central Luzon. Cojs, quently Macan No. 2, new crop, dropi)d from P5.60 to P5.35, Elonelon No. 1 F'om- P6.35 to P6.()5. The old crop, especial-!Y t. fancy varieties, held steady during the:onth altho it was not considered imtnurn to the depressing effects of cheai offelings of the new crop. Elonelon No. 1 was traded throughout at P6.90-P7.00. Rice arrivals in Alanila M^..th Quantity cavans Jan;t:, ry, 1941................ 120,061 Jamn.ry, 1940................. 165,993 anmery, 1940....... 165,993 Dece~nber, 1940................ 113,923 L Strongest, too, in Wrought Steel In the field of wrought steel padlocks, Master value is equally as noticeable as in its padlocks of laminated construction. In design, materials, appearance and key security these padlocks represent a genuine achievement in the lock makers' art. No. 44 Greyhound A imost unusual value, offering the highest quality materials machined and built with great precision, *l, typical of the EXTRA value built into ALL MASTER PADLOCKS. 1'4" embossed wrought I steel case-excellent warded lever security-3/16'" i spring tension steel swivel shackle-nickel plated milled steel keys. w No. 99 Greyhound A splendid p'adlock offering mo usual amount of security in this -1-11/16" embossed wrought, excellent warded multi-spring le' -1 4 spr ng- tension steel swive nickel plated milled steel keys. No. 55 Greyhound Another great Master value, high quality throughout and built with precision-1 2" embossed wrought steel case-excellent warded lever security —L4" spring tension steel swivel shackle-nickel plated milled steel keys. re than the price class steel case-j ver security A1 shackle — No. 77 Jungle King 13/" wedge-riveted embossed wrought steel case-highest grade brass cylinder pin tumbler security-heavy brass locking lever-" —" self-locking steel swivel shackle -steel pilfering protector. i.SK YOUR SUPPLIER TO SHOW YOU THESE LOCKS EXCLUSIVE SALES AGENTS AND DISTRIBUTORS TRANS-PACIFIC TRADING COMPANY, INC. Telephone 51 Cabildo, Intramuros P. O. Box 2-43-16 MANILA 497 l..- _..._. Thr - hMarc nterican Chamber of Commeroe Journal arc. 1941 33

Foreign Exchange Review (January 16 to February 15, 1941) By J. Rapoport Having covered most of their dollar requirements throughout the first half of January the banks became somewhat reluctant to continue buying dollars at 9/16f% premium, more so as offerings were fairly large. The market opened with good interbank sellers of ready T.T. at 9/16% pr. and buyers at 1/2% pr. for prompt and forward deliveries. During the second half of January small interbank dollar transactions were consummated, almost all of them at 1/2% pr. for ready and seldom forward deliveries. It appeared that future deliveries were at a slight premium over prompt dollars, or to put it differently there were more buyers of forward dollars than of prompt at equal rates. Several change-overs were offered at even rates; i.e. to sell prompt and buy forward dollars simultaneously without any difference in the rates, but although this would have been very attractive a month ago, there were hardly any takers for them now. The first fortnight of February witnessed increased number of interbank transactions in prompt dollars at 1/2% pr. As a matter of fact, at times there were no takers of ready dollars at this rate, but no business at lower rate was reported. This accelerated offering of T.T. is generally attributed to the appearance of export paper on the market for which banks had to provide ready cash and to otherwise rather tight cash position. Towards the end of the period under review, prompt dollars were still being booked at 1/2% pr. while several future sales took place at 9/16% indicating anticipation of a firmer dollar undertone in the future. Tobacco Review finished during January. Moderate raii will be needed in February to favo growth of the plants. Except for th, United States, the few shipments abroa were limited to the Far East. Januar shipments to the United States were mor than 20% of the quota allotted for the en tire year. Comparative figures of ship ments are: Ra Tob British India...... China.............. Hong Kong........ United States..... January 1941 December 1940 January 1940 zwleaf, Stripped bacco and Scrapa Kilos 5,191 43,928 8,170 410,724 468,013 2,484,534 153,447 CIGARS: Shipments to the United State during January were the lowest for many years. Comparative figures are: (January, 1941) -By Alhambra Cigar & Cigarette Mfg. Co.TOBACCO: Transplanting of tobacco in the provinces of Cagayan and Isabela was January 1941 December 1940 January 1940 Cigars 2,037,040 20,500,061 11,990,690. Z. I J Creosote Is An 'Antidote or Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge;t will pay you to use nothing but CREOSOT1ED ^KL~~bU II t.U LUMBER It w I a. 1 )8 N y P Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY 34 ( The Amereian Chamber of Commerce JoUlr March, 10I9

ad M. II '0 I [ Real Estate - By P. D. Carman Boulevard Heights The total value of January transfers was the lowest for that month since 1935 excepting 1938 but exceeded January transfers in 1932, 1933, 1934 and 1935. Only two months of last year (February and May) had lower totals than that af last month although those of April, June, August, September, October and December were not very greatly in excess. While many lines of business were very adversely affected during the last half of 1940, it is worthy of note that Manila real estate showed no great weakening-Jan Sta. Mesa....... Pandacan............ 4,000 10,902 13,317 P1,596,390 P1,248,235.. = ^ = a n d~ ~ ~~~ z Cooperatives The Manila Daily Bulletin's provincial service reports on cooperatives in its issue of February 14. It appears that the National Tobacco Corporation (headed up by Major Manuel Nieto) has a subsidy committee with a fund of P25,000 to allocate as loans to growers in the Cagayan-Isabela valley. Loans of P100 to each grower whose crop is large enough to warrant the risk are being made, and the Isabela agricultural supervisor, Tomas Ferrer, gives it as his opinion that these small loans will enable growers to improve their output. Major Nieto made a flying trip through the valley in February, inspecting 8 tobacco cooperatives in Ilokos Norte on his way through. President-manager Benito Razon of the National Trading Corporation was actively organizing Ilokos cooperatives in February, many of them retailers' cooperatives that would, the reporters said, compete for business with foreign merchants. Fifteen (the minimum legal number) teachers formed a consumers' cooperative in Lingayen and would open a store with a capital of P1,500. District Forester Edilberto Madrid organized a cooperative at Cabanatuan, Nueva Ecija, the provincial capital, to systematize the marketing of timber locally produced. Here the capital is P200,000. At Caloocan, adjoining Manila, a group was getting together to incorporate a transportation cooperative to operate busses between Caloocan and Manila for accommodation only of the cooperative's members: students and government employes. Here's how to get Manilas, Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! uary-June inclusive ember P11,066,149. Sta. Cruz........ Sampaloc........ Tondo........... Binondo......... San Nicolas..... Ermita.......... Malate........... Paco............ Sta. Ana........ Quiapo.......... San Miguel...... Intramuros...... P12,805,485; July-Dec Sales City 1940 December P 125,397 150,973 392,144 505,000 11,535 56,209 25,440 50,637 158,333 24,220 85,600 of Manila 1941 January P 21,834 317,594 56,247 10,563 61,587 59,750 70,687 192,035 83,523 251,118 18,980 87,000 List of D i stributors furnished upon request to F INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents C. 1. ELS[R, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. O. Box.98 THE HON. THE PHILIPPINE RESIDENT COMMISSIONER Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your tastel (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Act.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...".,a The American Chamber of Commerce Journal MAOroh, 1941 35

L Southepn Islands Cruises Cebu-Duniaguete-Zamboanga Cotabato-Jolo 'Twelve days through the Sulu Sea P99 NINETY-NINE PESOS P99 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarinias Manila, P. I. Phone 4-98-91 RJOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe ()le/ (tfifq th.e Fl'ollolwing Services: KERR-SILVER 1oin11di The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVEI11 JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast and Gulf Ports, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K;" LINE Express Service lo Allanilic Ports (Philippines to U. S. Atlantic Ports via Panama) W Corporate Investments in 1940 Best Since 1937, Survey Shows A survey of the trend of corporate investments for the last six years by the securities and exchange commission shows that although the number of stock corporations registered in 1940 was the smallest during the period, their combined capital, authorized or paid up, was the largest since 1937, the next record year in capital investments. There were only 176 stock corporations registered witl the SEC in 1940 but their combined capital consisting of P31,120,270 authorized, P13,261,364 subscribed and P9,644,093 paid up, was larger than that for 1939 or 1938. In 1939 there were 198 stock corporations with a total authorized capital of P29,782,814, of which P12,157,683 was subscribed and P9,063.895 paid up. In 1938 there were more stock corporations, 260 being registered with the SEC, but their combined authorized capital amounted to P28,661,564, of which P10,800,346 was subscribed and only P7,654,918 paid up. While the gain in corporate investments last year was due largely to the putting of more government money in certain lines of business, particularly in merchandising or retail trading so as to encourage more private capital to seek outlet along these lines, it nevertheless showed 1940 to be a comparatively normal year in investments despite the uncertainties in the international situation. The previous two years were also normal ones in capital investments. On the other hand, 1936 and 1937 were abnormal years in capital investments as a result of the mining and stock market boom. During those years capital investments were practically concentrated on mining, the biggest stock market boom in Philippine history as a result of the sudden rise of the mining industry having resulted in a feverish rush to form new firms to engage in new mining' ventures, even in new nanagement, investment ani pr'omotion corporation which sprang up as a result of the unusual mining activity. As a result, investments in 1936 soared to the highest point in years. There were 459 stock corl)orations registered during that year with a total authorized capital of P172,62291'38, of which P49,071,743 was subscribed and P21,082,310 paid up. Even when the boom of 1936 petered out as the year 1937 started, the flow of new investments continued to be toward the minimng business. There was, however, a slacken. ing in new investments during 1937, al. though the number of stock corporations organized was the largest during the last six years. The SEC registered 460 firms during that year, their combined authorized capital amounting to P126,147,745, of which P36,817,892 was subscribed and P17,089,194 paid up. After 1937, however, when a number of the firms organized during the boom were being "weeded" out, the flow of new in. vestments shifted to other fields of busi. ness. The bulk of new capital put to work shifted from mining to merchandising, manufacturing and real estate. Number of savings accounts increased 686,840 during the year to 45,791,265. Because some states have legal requirements which limit the size of a savings account in one name, however, the survey points out some people have more than one savings bank pass-book. Hence, the number of accounts total represents considerably fewer actual depositors than the total figure would indicate. — Manila Daily Bulletin Statistics Export (January, 1941) ---- By Associated Steamship Lines — The total Revenue Tonnage figures for.January 1941 are 299,806 tons, for a total,if 93 sailiigs. Compared with figures for the imonth of December, 1940, the tonnage.:;zows a Decrease of 68,177 tons. Tons (Cc tii t.i'al/Raw.............. 22,529 Refie................... 4,203 Total Jantuary............... 26,732 Tetal December............... 137.S74 Decrease.................... 1 1.1 42 Des iccateo i (I1)Cocossud t. PRODUCTS: 1 )istlributed as United 3l so. Stat'. J(l)(,i, Eu r' ope[ Por's T. >: To.< To,i,.> T,,ns 4,017 8 - -- Trade Commerce Bldg. Commerce Bldg. 2-15-21 Tels. 2-15-22 2-15-23: MENZI & CO., INC. I, Cebu I M P G R S H I P P Ai r- ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ _!ANILA Iloilo Davao T E R S EXPORTERS ING INSURANCE Cable Adtdress "CASAMENZI" MANILA f 36 The Amerioan Chamber of Com erce Jou nal March, 1 941

Iss it d h 4 f I Coc(nut Oil. 19,6:8 Copra.... 17,028 Copra Cake & MIlal.... 5,672 1,878 6,016 m 150 46,385 7,902 150 Tons Total Tonnage January......... 54,437 Total Tonnage Deccmber....... 35,884 Increase....................... 18,553 HEMP: Distributed as follows: Bales China & Japan............... 13,245 United States................ 39,818 Europe................. 20,233 Misc. Ports.................. 6,471 Total Bales January.......... 79,767 Total Bales December......... 122,358 Decrease.................... 42,591 LOGS & LUMBER: Distributed as follows: Bd. ft. China & Japan............ 12,376,929 United States.............. 3,892,934 Europe.................... 1,740,467 Europe.1,740,467 Misc. Ports............... 1,381,586 Total Board Feet January... 19,391,916 Total Board Feet December.. 20,628,547 Decrease................... 1,436,631 ORES: Distributed as follows: OTHER COMMODITIES: TONS SHIPP Jan. Dec. Leaf Tobacco. 1,056 3,591 Cigars & Cigarettes 180 941 Rope Shipmen. 784 797 Embroideries.. 61 447 Kapok.... - 101 Furniture. 971 1,573 Gums..... 145 140 Molasses.. 5,417 1,476 Vegetable Lard Inc. Decr. Margarine 861 2,209 6 3,942 - 1,348 Other Commodities not listed above 7,014 2,535 Tons (Jan.), 9,069 Tons (Dec.). Decrease, 1 2,055 Tons. - OI 13 - 386 - 101 - 602 SUMMARY OF TONNAGE DURING JANUARY, 1941 Jan. 1941 Tons U.S.A. 124 Jan. 1940 Tons 143 Honolulu 1 1 p ~~~~~~~~~~~~~~~~ SAN FRANCISCO LOS ANGELES United States Tons Copper. Chrome. 13,000 Iron... Manganese 12,686 China & Japan Tons 6,700 118,823 Misc. Europe Ports Tons Tons via Hongkong, Shanghai, Yokohama and Honolu Pres. Taft............. Pres. Cleveland........ Pres. Coolidge........ Pres. Pierce........... Pres. Taft............. Pres. Cleveland........ Kobe, Ilu March 17 March 29 April 16 April 26 May 10 May 24 rON Dlombo, nd April 1 April 1 April 12 April 22 May 5 May 20 25,686 125,523 Tons Total Tonnage January........151,209 Total Tonnage December......114,064 Increase...................... 37,145 NCENTRATE Distibuted as fol37,145 CONCENTRATES: Distributed as fol NEW YORK - BOSI via Singapore, Penang, C< Bombay, Capetown a Trinidad SS. Pres. Grant............ SS. Pres. Jackson.......... SS. Pres. Harrison.......... SS. Pres. Hayes............ SS. Pres. Tyler *........... SS. Pres. Monrde........... * Freight Service Only United States Tons 551 C!P China & Japan Europe Tons Tons. Copper.......... Gold............ Lead Zinc 0i I 618 Tnn o T'otal Tonnage December....... 618 Tltal Tonnage November........1,129 D(crease....................... 511 The l rare/ I ea C'hambcr of Commerc-e Journa' Al~arch. 1941 37 i

Pacific Local Pac. Overland " Atlantic ( Gulf Pacific Coast Canada Atlantic Coast China Japan 1( N. E. Indies Straits India Europe Australasia Africa W. Indies, Cent. America, South America 37, 1, 38 8, 6 61 4 6 1 2 Total Number of sailings ry, 1941-93 vessels of which ican vessels. Translation from I,965 29,667 woman was superfluous for domestic du-,988 1,231 ties, and she should never aspire to a career,627 116,233 other than that of a good wife and excellent,165 8,858 mother. 98 57 The whole education of the Filipino wo84 461 man came to be based on these principles,,382 5,588 under the direction of the Church. She,918 124,715 therefore came to be what it was pretended 271 539 she was: an esteemed daughter of the,140 845 Church, addicted to the outward forms of,227 28,814 faith, often without comprehension of their,221 279 significance and substance; a docile and.109 1,627 loving wife, ideally formed to satisfy the pleasures and caprices of her husband and 487 609 tolerate his abuses of her, and a simpleduring Janua- minded and ignorant mother, dominated by 19 were Amer- overweening sentiment and without mental resources to vanquish the vagaries and impulses of her children. )r. Palma Under the new influences, the Filipino woman formulated little by little an ideo-,e 13 logy reduced to defense of her purity and chastity from the world, the devil and the i a way to con- flesh; she so filled her soul with perturlust never leave bations of potential misconduct in the sight ble companion; of God that she came to regard the slightention, save at est touch of her person by a man, though igious worship; it conveyed no annoyance, or even excited must avoid all a kindred response, as a stain that must be intimacy, with washed away at all cost. Men, often ine no other de- eligible to proffer their suit frankly, seized.rity. She was advantage of this feeling, sometimes for sated a siren to sheer revenge, and contrived to be discoich reason she vered alone with the woman they sought to do with men to victimize, often by insinuating themice from them. selves into the woman's bedroom, solely to belief that wo- compromise her in the eyes of the public sically and spi- and before her family; and she, in haste to ere was no ne- remedy what she considered an abiding disknowledgeable honor, would submit to the indignity of Continued from pa chastity. She must dress in ceal her every charm; she m the house without a relial she must never attract att( the temple or in acts of reli and while still unwed, she contact, even the lightest men-since men would havy sire than to despoil her pu taught that she had been crE tempt men to sin, for wh must have the least possible and always keep her distar She was imbued with thel man is inferior to man phyi ritually; for this reason, th cessity for her to study, a marriage with the hateful intruder, moved solely by the false chagrin that her miaid-. enly aonor had been, by the man's mere momentary proximity to her, stained indelibly. However, notwithstanding the transformation wrought by the new religion, the ancient custom of the woman's helping maintain the family by exercise of her own energy and ability gave her liberty to leave the home and engage in business. During the whole Spanish period in the Philippines, Filipino women had establishments in the markets or, nearby them, in places exclusively for the sale of products of domestic industry: cloth, suitings, and other merchandise of general consumption. It was the Filipino women who competed with the Chinese, and in every department of trade, at retail and in their little stores, always managed economically, always assuring their welfare and that of their families in emergencies or on loss of father or husband. Blood ties among Filipinos go far beyond the limits usually recognized by Europeans and Americans. Whether this is reminiscent of the matriarchy that once was, as is believed, a Filipino institution, there is no way of knowing. It is nevertheless a fact that needy relatives, however distant by consanguinity or affinity, make nothing of going for their meals and keep to their more fortunate cousins living in better circumstances than themselves; and these involuntary hosts, on their part, rarely deny their humble kin help and protection. In exchange, at any reunion or festival the grateful spongers fall to willingly and help at whatever requires to be done. As a consequence of many mixed unions between Filipinos and Chinese during the Spanish epoch, familiar names of Chinese origin came to make up a part of the family lexicon. Brothers were distinguished by their seniority: Koya for an eldest brother, Ate for an eldest sister. Diko was a second brother, Ditche a second sister, while a third brother was Sanko and a third sister was Sanse, all in the loving bosom of the family. The relationship between cousins parallels that between brothers; cousins are called by the same familiar terms as brothers; uncles by blood, by the same token, bear the same appellations as parents. Bayao and Hipag serve for brothers-in-law and sisters-in-law. Bilis serves for brothers-in-law and sisters-in law indifferently, but like this: A sister is married, and has a married brother. The sister's husband and the brother's wife are, to each other, Bilds Juan and Bilas Juana. Filipinos also have familiar names for nephews and nieces second and third generations removed, recognizing them as apo sa tiuhod (to the knee) and apo sa talampakan (to the sole of the foot). [To BE CONCLUDED] Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats i Shipbuilders a n d SIMMIE & Provisions GRILK Phone 2-16-61 MANILA Port Area I - - - 38 The American Chamber of Commerce Journal March, 194h (

1 4 1 1 1 I TOTAI EXPORT TRADE OF PHILIPPINES DURING JANUARY 1941 AND DECEMBER 1940, BY PHILIPPINE POR'TS OF ORIGIN Note: Total value does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) January 1941 Port of origin Value (Pesos) Per cent of total TOTAL EXPORTS..... M anila................... Cebu.................... Iloilo........*.............. fDavao....... — - -............ Legaspi *o..................... Jolo............................... Zamboan a......-................ Jose aiganiban................ Aparri 24,010,672 13,933,893 3,342,577 1,302,487 1,752,422 400,69, 38.865 379,724 2,774,511 85,500 100 0 58.3 13.9 5., 7.3 1.7 0.2 1.6 11.6 0.4 December 1940 I Per cent Value l ncrease@ (Pesos) Dec to Jan. 1941 32,765,3 5. - 26.7 16,854,628 - 17.3 1,572,051 112.6 10,731,857 -- 87.9 1,733,076 1.1 478,703 - 16.3 2,27,[ (2) 320,899 18.;; 1,071,86( 158.S 100.0 TOTAL IMPORT TRADE OF PHILIPPIES DURING JANUARY 1941 AND DECEMBER 1940 BY PORT OF JllNTltY (Note: Total value of imports does not include the value of personal effeot and household goods of passengers departing nor of currency Imported into the Philippines.) January 1941 December 1940 Per ceat Port of entry Value e Value tDer. I (Peeos) (Peeos) Jan. 1941 TOTAL IMPORTS...... 21,869,470 100.0 21,418.094 2.1 Manila................... 19,554,130 89.4 18,624,988 6.0 Cebu..................... 1,862,264 8.5 1,881,298 - 1.0 Iloilo..................... 289.036 1.3 686,410 - 67.9 Davao.................... 96,122 0.4 192,667 - 60.1 Legaspi................... 31,214 0.1 9,334 284.4 Jolo...................... 1,706 0.1 9,852 67.9 Zamboanga............... 20,984 0.1 9,084 182.8 Jose Panganiban......... 42 -100.0 Aparri....................14 (1) 18 -22 (.[ Minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. it Minus sign (-) indicates a decrease. (2) Over 1000 per cent. TOTAL EXPORT TRADE OF PHILIPPINES DURING JANUARY i941 BY NATIONALITY OF CARRYING VESSEL Value Per cent of Nationality of carrying vessels ( e) e tota (Pesos) total TOTAL EXPORTS......... 24,010,672 100.0 Mail........................... 8,118,610 33.8 American...................... 8,918.698 28.8 Norwegian...................... 2,957,811 12.3 Japanese....................... 2,212,267 9.2 British.......................... 1,241,908 5.2 Philippine....................... 1,171,320 4.9 Dutch........................... 672,153 2.8 Swedish......................... 285,763 1.2 French.......................... 191.879 0.8 Spanish...................... 131,067 0.5 Finnish........................66.00 0.3 Panaman........................ 37,921 0.2 Aircraft......................... 4,775 (1) TOTAL IMPORT TRADE OF PHILIPPINES DURING JANUARY 1941 BY NATIONALITY OF CARRYING VESSEL Nationality of carrying vessel Value Per cent (P.sos.) of total TOTAL IMPORTS................... 21,869,470 100.0 Am erican....................................... 14,910,756 68.2 Norwegian...................................... 1,638,891 7.5 British.......................................... 1,192,584 5.5 Dutch........................................... 1,150,254 5.8 Japanese........................................ 855,200 8.9 Philippine....................................... 525,596 2. Panaman....................................... 488.0.9 2.2 Danish..................................... 46,826 2.0 M ail............................................ 330,610 1.6 Swedish........................................ 192,546 0.9 French.......................................... 120,586 0.6 A ircraft........................................ 26,958 0.1 Italian.......................................... 1,108 (11 (1) Less than 0.1 per cent. I I I I I I I I I I,I 11 I I I I i I I A A I I (I) Less than 0.1 per cent. VALUE OF PRINCIPAL PHILIPPINE EXPORTS TO ALL COUNTRIES BY MONTHS, JANUARY TO DECEMBER: 1940 AND 1939 (Dlit prior to July. 1940. were compiled by the Bureau of Customs.).opra. co0.onUL oil, Month and year All exports Abaca and other coconut Logs, timber and Gold and silver Sugar ______________________ _______________ __________________products lumber JANUARY TO DECEMBER: TOTAL-1940............... P309,579,644 P27.101,702 P49.784.961 P7,184,982 P77,753.496 791.978,271 1939................ 316,095,796 24,546,891 58,287,730 6,363,177 73,643,529 99,346,938 January to June " 1940................ 157,872,966 11,815,120 20 822.233 3.507,853 37,462,890 48,675.022 19J9................ 170,791,250 10,503,338 27,504,159 3,218,899 34,770,688 69,032,750 July to December 1940................ 151,706,678 15,286,582 28 942.728 3,687,129 40.290.606 43.898.249 1939................ 145,304,546 14,043,553 30,783,571 3.144,278 38,872,841 30,814,188 December 1940................ 3.030,755 3.0V0,755 2,096,814 793,572 6,918,706 11,811.728 1939................ 26,598,717 2,604,162 5,216,079 470,716 6,773,524 7.779,045 January 1941................ 23.060,096 2,903,188 8,951,844 1,192,930 8,906,470 8,165.379 1940................ 21,659,117 1,952,402 4,304.155 426.313 5.,541,495 5,541,495 IMPORT AND EXPORT TRA tDE OF THE PHILIPPINES. BY COUNTRIES. JANUARY TO DECEMBER: 1940 AND 1939 (Data prior to July 1940, were compiled by the Bureau of (customs. I Country of origin or destination TOTAL.................... United States and territories... Canada........................ Austria Belgium ".""""""""" Denmark.................. Prance......................... France Germany. Germany...................... Great Britain............ Ireland Netherlands................... Norway Norway................... Spain......................... Sweden...................* Switzerland..... China hn a.................... British East Indies........... Dutch East Indies.............. French East Indies............ Hongkon, Japangkon..................... Japan Kwantung..................... Thailand (Siam)............... Australia ther countries............. Import trade E;xport trade k.-.poj-' trade minus import trade 1940 P269,720,497 210.630.854 3,162,875 1,528 841,082 11,008 574,555 154,200 3,760.291 238,108 628 647 2,557,217 527,589 415,397 711,889 1,002,346 6,211,560 3,44.,867 8,134,342 1,162,093 2,047,781 12,063,121 50.420 1,483,015 3,605,148 6.301,564 19S9 P245.559,992 167,577,688 2,450,957 72 403 2.966,137 105.740 1,573.437 8,576,461 5,961,200 445,459 659,696 5,907,905 172.9;4 170,763 1.088.502 1,690.480 5,287.748 4,516.409 5,954,850 3,876.896 1,792.756 15,227.484 177,052 1,575,573 4.004,662 3.776.800 1940 P309,579 644 256,065,439 1,269,918 146,018 752,811 3,117.665 7.205.851 1,896 815,567 43.069 94.878 3.000,016 1.539.187 174,434 3,687,494 883,007 1,173.379 322,207 3,719.348 17,592.199 178,968 351.513 787,988 6.656 772 19J9 P316,095.796 259,33h.320 786,634 821,418 2,687,729 3,525,594 1,983.585 6,645,924 10,834 490.883 6,520,0X4 573.281 2,109,276 1,906,457 33,773 2,029.411 1,629,864 863,418 171,107 1,718,236 15,913.279 244.963 805.226 838,867 4,955.683 1940 P 39.859.147 45,434,585 - 1,892,957 1,,28 - 695,064 741,80: 2,543,110 - 154,200 3,445.560 - 236.212 186,92C - 2,514.148 - 432.711 2,584.639 827.298 - 827.912 - 2.524,066 - 2,560.860 - 6,960,96. - 839 886 1.671..67 5,529,078 128 548 - 1.181.502 - 2.817,160 855.208 1939 P 70,636,804 91,757,612 - 1,664.323 - 72,403 - 2,144,719 2,581,989 1,962,157 - 6.592.876 684,724 - 434,625 - 168,813 612,129 400.847 1.938,513 867.955 - 1,656.707 - 3,268.887 - 2,886.545 - 6,091,432 - 8,705.789 74,520 685.795 67.911 - 1,270.847 - 8.170.795 1,178.883 --------— ~ ~ ~~~ --- I I..... 'he American Chamber of Commerce Journal 4arch. 1941 39

i RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending January 25, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of October, November, December and January of 1940 and 1941, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING,_.............n. o r NUMBER OF FREIGHT COMMODITIES FREIGHT CARS TONNAGE ___________ 1941 1940 1941 140 Rice................ 389 546 5.100 7,606 Palay................ 26z 222 3,377 2,944 Sugar............... 1,443 875 45,505 27,489 Sugar Cane........ 8,27: 8 128 152,404 146,56z Copra.............. 452 649 4,271 5,994 Coconuts............ 111 55 1,464 65: Molasses............. 13 22 322 692 Hemp................- - Tobacco............. 1 1 10 6 Livestock........... 21 12 192 148 Mineral Products.... 210 410 2,607 4,573 Lumber and Timber. 240 209 6,446 5,057 Other Forest Product. 1 1 5 9 Manufactures........ 346 266 6,528 4,421 All Others including L.C.L.....2,508 2,782 22,706 21,307 TOTA...... 14,272 14,17 250.937 I227,454 I Increase or Decrease Cars Tonnag, (157) (2,506, 40 433 568 18,025 147 5,842 (197) (1,723, 56 809 ( 9) ( 370) - 4 9 44 (200) (1,966) 31 1,389 ( 4) 80 2.107 (274) 1,399 94 2d,483 =1 COMMODITIES OCT. NOV. DEC. JAN. Rice, cavanes.................. 84,291 59,460 78,83.,' 87,661 Sugar, piculs.................... 273,423 73,662 497,16 i,78,12: Copra, piculs.................... 171,344 111,527 100,02 156,34 Desiccated Coconuts, cases...... 41,21 34,031 48,28 32,9 Tobacco, bales................... 2,504 1,101 638 Lumber, board feet.............. 1,426,540 1,049,410 616,463 1,031,166 Timber, kilos................... 698,000 243,00' 487,000 3918,000 SUMMARY Week ending Jan. 4, 2,359 2,978 37,933 46,918 (619) 8,98) 11, 4,016 3,656 70,469 57,496 360 12,973 18 4,089 3,647 76,114 58,487 442 17,627 25, 3,808 3.897 66.421 64,553 ( 89) 1,868 TOTAL......... 14,272 j 14,178 250,937 227,454 94 23,483......... L __i;ursi* r.e.n....esi ui N uTE:.,'igures in p~arenthesis indicate decreabe.t~ I Just Little Things Continued from page 30 the south for England. Two plied the Atlantic, but the Shenandoah was responsible for shooting schools of American whalers off the Pacific, and for that subsequent want of American tonnage on this ocean that has never been overcome. Toward the end of the war, our navy made shift to sink the Alabama in the English channel, and the Florida took refuge in a Brazilian port where in due course a Union war vessel followed her. Brazil warned that peace should be kept. It was, but not the Florida; watching his chance when most of her crew had gone ashore, the American commander got a good Manila line on the Florida and quietly towed her off to the highseas, making all speed to ward Chesapeake bay. On appearing off the capes there, he learned that his act had been disavowed and that the Florida was to be returned to the spot where he had seized her. However, this could not be done, because in being towed up the bay the poor Florida sprung a leak and sank. There she lies now. The young commander who found a good Manila line would serve him in a neutral port where cannon would not, was cashiered, but turns up later in the files as a rear admiral. America and England agreed to arbitrate the so-called Alabama claims in 1871, and an international tribunal awarded America $15,500,000 to make good their depredations on Union commerce. It was never possible to find claimants for so much money, though one of our lawyers originally put in for more than two billions. War demand has expanded tin production in Malaya about 300 per cent. Employment at the mines has increased from 40,000 in July to 75,000 a year later, and the number of dredges has risen from 50 to 100. Quicksilver production in the United States has been enormously stimulated by the current high price, now about $185 per flash of 76 lbs., and domestic output is nearly equal to the country's requirements. Manganese ore is concentrated flotation at the plant of the Cuban-American Manganese Company, with a final product assaying over 50 per cent Mn. Operating costs per cubic yard for the Natomos Company, one of the notable gold dredging companies of California, were 4.06 cents before depreciation and depletion, and 5.18 cents after these charges. The gravel treated contained 11.32 cents per yard (22.6 centavos). IL - BUSINESS AND PROFESSIONAL DIRECTORY CHINA BANKING CORPORATION MANII.A. P. I. P. O. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Authorized Capital.. Paid-up Capital..... Surplus, Reserves and Undivided Profits, over............ P10,000,000.00 5,713,300.00 4,250,000.00 Investments Collections LDomesic a11i1 oreigit ailtking of Every I)escription Income Tax 560 Taft Avenue Manila, P. I. - -- 40 The American Chamber of Commerce Journal March, 1911 (

C44E AMERICAN CHAMBER~~~~~~~~~~~~~~~~~~~~~ OFCMEC OHlNAL MANILA,~~~~~)4 PHI LI PPIN ES II "N' t )1 A 1-1111M. 1911 I. >1), 1 *\ J~~~~~~~~~~~~~~~~~~~~~~~~~~j( () ~ ~ ~ ~ ~ ~ ~ ~~~~~~S (I.N.IIA. \OS

r ugar me brings you new delight because it's different. Made with Schenley's Golden Wedding the finst American Zye) ill up Whiskey. Ask for it anywhere! caus e it's ffe ent Made with Schenley's Golden Wedding - the finest American Whiskey. Ask for it anywhere! Sole Agents: THE MANILA WINE MERCHANTS, INC. Largest fwolesale and Retail Liquor Dealers in the P. 1. Hend Office Retail Branch Office 174 Juan Luna 37-39 Calle Alhambra Tels. 4-90-57-4-90-58 Tel. 2-17-61 I i STOP beating about the bush with sporadic advertising...... Regular advertising, like the steady drip of water on a stone, slowly but surely creates a lasting impression; whereas the occasional advertisement may splash a bit, but soon disappears, leaving little or no trace. Ensure that those impressions are lasting and favorable, with a consistent and carefully planned advertising campaign in the.1 111Ma n f zu~rmw Kao Iw rs IIL i I K -M I ~ — ---- I

I Ad~~~~ a/,, :::I '~...~:~. ~' ~~. ~u b;.~..:~.-.. ~: ~i~~ i.:;~:~; ~~~..;:.,....:.. " ": ~ :~ ''':: ~ ~~ -11 "g-^^.^....a.^. s^ - |: o f obil *.., *|t| @ TI Bt'G t~|ltOe r* e tMobiloil Chart y~uu... hIADE IN U.S.A. XWi..i~.. A s Ot~~bTS out want t4U^Rt _ a~; 4 r j ~r r I 1 r On your next motoring tour, be sure that nothing unpleasant mars your trip. Have the car in perfect mechanical condition and drive at reasonable, safe speeds-you owe it to yourself and family to keep the car under control at all times. A word about safety in lubrication. If your oil has been in use for over 1500 kilometers, it is now contaminated among other things by dust and other abrasive matter. For efficient engine operation, drain the old oil and refill the crankcase with MOBILOIL. RI II i %BBPP r p -aa-c;c~ p ~` A T YOUR NEAREST STAN DARD - V A C M S GRVICE STATION STANDARD-VACUUM OIL COMPANY PHILIPPINES The American Chamber of Commerce Journal,pl"il. 1941 1

I LUZON BROKERAGE CO., INC. Derham Building. MANILA P. 0. Box 591 Port Area Tel. 2-24-21 Licensed Customs Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen --- — --- — - LYON STEEL PRODUCTS Storage Shelving Clothes Lockers Tool Storage Equipment Shop Storage Office Cabinets Folding Chairs Lockers for Golf Clubs, etc. This Steel Cabinet C f500 64 x 24 x 18 inches For Sale A Photostatic Machine...... P200 only. Make copies of valuable documents in your own office. Excliusive Distri)utors F. H. STEVENS & CO. 227 Calle David Manila Tio Yao -Insurance agent in Iloilo. "Inclosed herewith please find a P. M. 0. for the amount of P8 for 2 years' subscription to the Journal. May it continue serving the cause of business.":':::::;: Hon. Leoncio A. Cruz Mayor, San Isidro, Nueva Ecija. "It is with a deep sense of gratitude that I acknowledge with thanks the Leceipt of a copy of your magazine for March which you have benevolently sent me. I have read repeatedly the story about the little town of San Isidro and myself and I have found nothing but praise for its beauty and accuracy.":::::: Rev. James F. McKinley -College of Theology, Silliman University, Dumaguete. "I read with so much pleasure your booklet on 'Current American Trade with the Philippines' that I passed it along to President Fred Chambers, Central Philippine College, Jaro, Iloilo. Could I have another copy when you mail out those you have promised to send to the people whose names are presented on the accompanying list?... As you know, it is only in Rota'y that I rub shoulders with men of business and therefore your hospitality at the Chamber of Commerce is a most welcome change for me." (President Chambers is to be inaugurated July 4. Rev. McKinley is welcome indeed to another copy of the booklet he mentions, and if readers will but send in addresses in America where copies of the booklet will be effective, both the large and the small booklets will be sent, or either, as readers may designate, while stocks remain available. Also, best wishes to Silliman.) Hon. F. F. Gonzalez-Sioco — Member of the Philippines National Assembly. "I am glad to find someone who understands the necessity for a school for governesses for the Philippines. "I am now preparing a bill for the establishment of such school, but I am still in doubt as to whether sail schools will be in connection with the normal school or a school for nursing. The President of the University of the Philippines also suggests that such schools should not be connected with the University. If you have aly further suggestion regarding the establishment of said schools, I should a!)preciate it very much. Meantime, myn idea is that no student should be admitted in said school who is not at least a highschool graduate. In this -ase, we raise the standard of the graduates, the future teachers and The Amnerican Chamber of Conmerce Joln""l1 April 1941 LI F WISE & COMPANY, INC. Cebu MANILA Iloilo FOUNDED 1826 EXPORTERS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum IMP 0 R T E RS Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds MANILA OFFICE Wise Building, Juan Luna Cable Address "SAPIENS" Standard Codes Ij I. ( 2

L caretakers of the children." (Our suggestion was that such a school in Manila is badly needed, that it might limit enrollment to orphans and orranize along the lines of a similar school we have heard of at Honolulu. \\ill not readers submit their own suggestions to Assemblyman Gonzalez-Sioco?-since he will no doubt be helped by them.) * * * George L. Rickard -President of the Pioneers' Club of Manila. "The Pioneers' Club extends its thanks to you and all who have given it aid and encouragement during the past year. The Club finds itself in better condition at the end of 1940 than any time during the past seven years of its life. During the past year, besides the writing off of all uncollectible accounts to charity, we have a fairly good cash balance on hand. We have, during the year, added to the Club's equipment, both in the kitchen-dining department, but also in the dormitories. "On the first of this present year the Club moved to 442 Sales Street, into a building that not only provides larger quarters, but has other advantages, such as being more quiet, cleaner, cooler. Moreover, it is only two blocks from Avenida Rizal, and one from Carriedo, being much more convenient for, those who wish to drop in for lunch. The move has also effected a saving in rent. "This feature of its midday lunch is especially called to your attention. The place is accessible, cool and clean. The food is all you will wish. After lunch you can rest in easy chairs and listen to the news broadcasts. Plenty of reading matter, or whatever you desire. Comfortable beds on which you can stretch out for a short siesta. (We are all getting the habit.) "You have, by your help, made it possible for the Pioneers' Club to offer this service to Americans. It covers both those who can pay, and those who cannot,, but are deserving. We extend assistance even to sending to the hospital those who otherwise would not have the privilege. We cooperate with other charitable organizations to care for those who need temporary help. Through the proper authorities we assist those who should return to the States. "The Club keeps its premises and its name spotless. Liquors are not allowed on the premises, nor are any persons under the influence of them. Arrericanism and good conduct are enforced. Please know that we extend our invitation to you for a visit to the Club, and more, we hope that you will become a regular comer whenever you feel the spirit." (Circular to all members and contributors to the club, where we can attest the savoriness of the Jiggs lunches on Fridays). I l I ` r~~~~~~~~~~~~~I,V Ait Since 1871, in its seventy years of practical service to a great human family, the Sun Life of Canada has paid benefits totalling $1,389,808,553. ON EACH WORKING DAY OF 1940, policyholders and beneficiaries received $330,000 or a total for the year of $94,173,482. OF THIS AMOUNT, no less than 73% was paid to living policyholders, while the balance contributed materially to the welfare of the dependents of policyholders who died. NEARLY 20% OF ALL DEATH CLAIMS occurred within the first five policy years. $169,508,809 OF NEW ASSURANCES were issued during the year increasing the total of assurance protection to the amount of $2,963,708,831. THE NUMBER OF POLICIES NOW IN FORCE (including Group Certificates) exceeds one million, two hundred thousand....TOTAL ASSETS: now stand at $950,794,367, highest in the history of the company. For complete Annual Report apply to: A. F. PETERS, Branch Manager S. J. Wilson Building, Manila The Alerican Chamber of Commerce Journal Ap.il, 1941 3

I I ALHAMBRA A XL IH AN B It) A CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA I "THE GAME OF A THOUSAND THRILLS",< Jai~~ Alai D o nEVERY 1 f NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM ~4 BARS ~ CONTINENTAL CUISINE * SPORTS * GYMNASIUM Air Conditioned For Your Comfort -11 COOL OFF! with a glass of ice-cold SanM iqut alite ilsen The BEST of GOOD BEERS Since 1890 - r-Cwl' San I 2tuEl r__ f (4 The American Chamber of Commerce Journ a 4k April, M9I

The American High Commissioner and His Staff Hon. Francis B. Sayre United States High Commissioner to the Philippines Commissioner Sayre hails from the U. S. state department and has had a long diplomatic career, an early and very successful portion of it being his assignment in Siam. Golden W. Bell Evett D. Hester... legal adviser... economics adviser Woodbury Willoughby... financial adviser 7 hc American Chamber of Commerce Journal Ap/il, 1941 5 [Continued on next page]

Laurence E. Salisbury Claude A. Buss..foreign affairs... executive assistant Lt. Col. Robert N. Carswell... U.S. Army liaison officer I Lt. Commander Thomas C. Parker Captain Wm. J. Priestley U.. U.S. Naval aide... U. S. Army liaison officer Charles W. Franks... senior statistician E. C. Ross...pastport agent George O. Gray... assistant to the legal, adviser Robert J. Huf-cut. secretary to the Commissioner f 6 The American Chamber of Colmmecrce Journal April, I941

The Situation "Down Under" Carroll Binder, Director of the Chicago Daily News Foreign News Service, writes of Australia's and New Zealand's war and defense activities and growing reliance on the United States. Sydney, Australia.-Prior to the war, the dependence of Australia and New Zealand upon Great Britain for defense as well as for a market for their primary products accustomed them to entrust most of the conduct of their foreign relations to Great Britain. Such independence of Britain as was manifested tended to be in the economic sphere. Although giving substantial preference to British goods and immigrants, Australia nevertheless puts strict limits on the influx of both in order to safeguard its own superior standard of living and develop its own economy. Notwithstanding the facts that the United Kingdom no longer is able to extend to them the naval protection they formerly enjoyed and that they now enjoy an equal status with the United Kingdom in the British commonwealth of nations, Australia and New Zealand largely continue to follow the lead of London in the conduct of their foreign relations. There is surprisingly little discussion of foreign policy in either their parliaments or in public and private debate. There is less information about foreign affairs in Australasian periodicals than in American newspapers and magazines. Consequently less information about events abroad is possessed by intelligent Australasians than by intelligent Americans. Nevertheless the beginnings of an independent foreign policy are becoming apparent in Australasia. The establishment of direct diplomatic relations between the United States and Australia-something the United States had long desired but which Australia refused to consider until last year-is such an indication. The recent exchange of ministers with Japan-which according to gossip was not favored by Great Britain-is another. There has been a demand by a few citizens that Australia now exchange ministers with China-a suggestion that would hardly have been conceivable a few years ago. If Great Britain should go the way of France-a possibility that no Australian of my acquaintance has ever EDITOR'S NOTE.-In these times our readers no doubt like to keep posted on the war situation, particularly in the Pacific region where it may involve the United States. In a brilliant series of 13 articles, Carroll Binder has covered this situation as he observed it in January in New, Zealand and Australia, making a clipper trip to do so. One of these articles is republished below. We can. never give much space to this sort of thing, but we feel this material is too outstanding to be passed over. been willing to even contemplatethis tendency undoubtedly would be greatly accentuated. It would take the form of much more positive approaches to the United States than have yet been attempted. For only by means of American aid could Australia and New Zealand hope to maintain their independence in a political and economic order from which Great Britain had been eliminated as a controlling power. In view of the inability of the United States to absorb the surplus of wheat, meat, wool and dairy products which Australia and New Zealand must sell abroad in order to prosper it is not easy to see just how the United States, with the best will in the world, could assume the role of a prostrate Britain. This is especially true because at the same time it would be busily occupied trying to prevent South American countries with similar export surpluses from coming under the economic domination of a victorious Germany. But the problem would have to be faced in the interest of the prosperity and the security of the United States as well as of two friendly peoples in the southwestern Pacific. Happily for all concerned such an appalling contingency is not at hand. It is possible to proceed more deliberately and advantageously with less staggering problems such as the improvement of economic and political relations. In recent years the economic relations of the United States and Australia have not always been as cordial as was desirable. Both countries indulged in vigorous economic nationalism which sharply curtailed trade and made for bad feeling. It would take more space than is available to recount the history of this period and justly allocate responsibility for the discriminations practiced against each other's exports and imports. The issue is being considered by both governments and more will doubtless be heard in this connection. One of the most influential office holders in Australia declared to me that in his opinion "Australians won't be satisfied to have the United States remain on the general tariff list while others are on a preferred list." Cynics suggest that the present wave of cordiality towards the United States and desire for closer political and economic ties will disappear if Britain wins the war. Only the future will tell, of course, but there are potent forces pushing us closer together in a number of respects, conspicuously in the matter of political and military relations in the Pacific. The United States and Australasia have many common interests and no conflicting interests in the preservation of peace and resistance to aggression in the Pacific, as is indicated in other articles in this series. The extent to which Australasia has come to rely on the United States for assistance in resisting aggression in the Pacific was demonstrated when word reached the Australian public that the United States fleet had left Hawaii some months ago. There was a feeling of approaching panic in many non-official quarters until it was ascertained that the fleet was simply engaged in maneuversnot being withdrawn from the Pacific. Everything that the United States does to strengthen its defense establishment in the Pacific is greeted with enthusiasm in Australasia, and if the United States should desire at any time to station a part of its fleet [Continued on page 28] The American Chamber of CommWre Jolwuw April, 1941 7

Saints Are Manila's Defense Santa Lucia and especially Our Lady of the Rosary intercede against threatening invaders. Visitors to the Philippines who are perhaps surprised to see little outward preparation against possible attacks on the country, should World War II spread to the Pacific and involve the United States, may not always be aware of the special protection the Philippines enjoy from certain of the saints. Timely appeals will always be made for this succor, to withstand an invading foe. Old monastery chronicles, many of them compiled in formal histories, reveal many instances in which Manila, for example, seemed to be miraculously saved from capitulation to forces of several times the strength of the defenders. The original little Spanish community at Cebu, hardly 300 men, since only 400 all told came from Mexico with Miguel Legaspi's fleet of 5 little vessels, was threatened by the Portuguese but duly preserved by the intercession of the saints, this notwithstanding the fact that the Spaniards were clearly poaching on Portuguese territory, in coming to the Philippines, terms of the Treaty of Tordesillas and the agreement of 1529 both placing the Philippines among pagan lands lawfully conquerable by the Portuguese instead of by the Spaniards. It was heaven, apparently, that wished otherwise, and in 1580 the Duke of Alva made things easier for Philip II and his royal governors in the Philippines by subjugating Portugal herself. At last the Portuguese were checkmated. But the Dutch followed on their heels, having already taken over the Moluccas, or Spice Islands. The Dutch were able to get Formosa, but never the Philippines. Certain of the saints would not have it so. The issue was fought out at Mariveles, Playa Honda, and elsewhere, in the first half of the 17th century; and Van Noort and other Dutch commanders were always humiliated by defeats at the hands of the Spaniards that seemed, incredible except as miracles. Six different Dutch attempts on Manila in one year were miraculously circumvented by intercession of Our Lady of the Rosary, whose adoration spread throughout the Christian Philippines from the advent of her image here with the coming to Manila of the first bishop, Bishop Salazar, a Dominican, in 1581, and especially from the year 1587, when 15 more Dominicans came on, through Mexico but originally from Spain, to labor in the missions. In early Dominican churches at the monastery in the walled city, the image was honored near the main altar; later the wide veneration of the image demanded for it a separate chapel. The fourth church had such a chapel, as does the fifth, in fine Gothic style, now the pride in the Philippines of the valiant Order of Preachers. This is of course the richest and handsomest chapel in the country, and the image gracing its altar was the gift of Captain and Governor General Luis Perez Dasmarinas, an early governor and a son of the great captain from Flanders, Gomez Perez Dasmarinas, to whom Philip II entrusted the building of Manila's walls. For such a commander, despite every obstacle and inconvenience, the walls were a task of but 3 years. With the thousand men he had with him from Manila for the expedition, he would unquestionably have taken the Moluccas for Philip II had the Chinese who rowed his galley not risen in the night and killed him1>ausing the venture to be abandoned. It was always astonishing how effectively the early veterans from Flanders could carry on, and it is a golden leaf in Pampangan history that they commonly recruited their auxiliaries there. Young Luis succeeding to the governorship had not the steel in his character that came of facing things out on his own soil with William of Orange: he required much more material divine aid, and he got it, as did later governors. Once when a battle at sea with the Dutch was raging, and for the Spaniards all seemed hopelessly lost, the soldiers were inspired to victory by the appearance of Santa Lucia in the clouds above their riddle ships, sword in hand: the Spaniards and Pampangans could then not be daunted. Santa Lucia is the patroness of the walled city, the patroness never found wanting. Such faith is not obliterated in the Philip pines, even in this more material age, a fact that a would-be invader would surely discover to his hurt. But above all in such essential matters stands Our Lady of the Rosary, to whom in the Philippines the soldier seldom appeals in vain. A painting of the Dasmarifias image of Our Lady exists, as the image stood in the chapel of the fourth church, the one destroyed in the earthquake of 1863. The inscription on this painting, a work of Fr. Joseph Azarate, lists a number of exigencies in which appeals to Our Lady through supplications addressed to this image will not be vain: earthquakes, parturitions, storms, and invasions by barbarous powers. The cult is such that a confraternity to assist with the annual festivals and especially to safeguard the fortune in religious gifts bestowed on the image, had to be organized centuries ago; and Doina Ana de Vera, the devout wife of one of Philip II's great officers, Captain Pedro Chavez, was the first camarera of this confraternity. Her own gifts and those of Captain Chavez are among the others. The highest in the land, including archbishops and royal governors, admirals and members of the audiencia or the supreme court, used to stipulate that they should be buried in the Chapel of Our Lady of the Rosary, until, with the cholera of 1820 and the provision of Paco Cemetery, such burial places were officially closed. The annual novena is regularly celebrated in October, and in Spanish times the 8th day was Naval Day, on which gratitude was renewed publicly, the royal governor and the commanding admiral attending prominently, for the many occasions on which divine assistance had been granted in the history of the colony, to preserve it against invaders. If the governorship happened to be vacant at the time, responsibility was discharged by the cabildo, the city administration. When, in 1907, under Archbishop Jeremiah Harty, the Dasmarifias image was canonically crowned, a volume was published that brought together incident after incident where it was evident that Our [Continued on page 11] I 8 The AmeriSon Chwmnber of Comn.nerce Journal April, 1941 (

Natural Drugs and War Venice, Lisbon, Amsterdam and London each in turn has been the drug and spice capital of the world: each by the fortune of war. The Philippine contribution to the international pharmacopeia is still to be made, although we discover some rising interest in certain Philippine simples since our publication at the middle of last year of the principal items in Guerrero's list. It may be that the tardiness of the world in recognizing natural remedies from the Philippines can be historically attributed to the absence of the Jesuits from the Islands during the latter half of the 18th century and first half of the 19th, since the Jesuits were determined apothecaries in the infancy of international medicine. Jesuits observed the Countess of Chincon, wife of the viceroy, treated at Lima with peruvian bark in 1630 for malaria, and cured. Two years later they took the bark to Europe and insisted on its introduction, and had the usual, difficulties with the conservatives. Jesuit bark, the remedy was called, and the names cinchonla and quinine, corrupted from Chincon, came in by way of the books. Ipecacuanha-root was another remedy known to the Peruvian Indians that found its way to Europe and has had its ups and downs ever since, though today it is an accepted remedy against severe coughs and bronchitis. Jesuits also took to Europe the famous lignum nephriticum, kidneywood, in form of cups. These cups filled with water turned the water a bluish color, imparting to it an ingredient remedial of dropsy and renal troubles. An American discovered in 1915 that 2 trees produce, such wood, 1 in Mexico and the other here in the Philippines. Kidneywood cups were gifts fit to flatter royalty during the 17th century. In my researches in Manila I have come on no old people who know about it.* As to the Peruvian and other American simples, it is easy to understand that they were guarded as a Spanish monopoly because of their immense value. They could only be shipped by Spanish vessels, and only to Spanish ports; the trade accounts for much of Spain's commercial wealth in the early 17th century. 4 This paper borrows literally from notes by Dr. Walter K. Frankel. The enormous gains from trade in drugs had become well known before the discovery of America. Venice made the most of the situation, bringing the drugs to Europe in her own ships from Constantinople, where caravans brought them by way of China, India, and Asia Minor, or Arabian ships took them to the Persian gulf and camel caravans carried them through the Arabia Felix of the Mohammedan empire that yearly pressed the Eastern Empire more closely. How far the audacious Mohammedan tradesmen expanded their trade we can learn from Philippine history. The Moros of the southern Philippines are Mohammedans and the descendents of Arabian traders and conquerors from the shores of India, Malacca, and China, long making homeward trips with drugs and spices regularly through the Straits of Malacca. Sultans were rulers in the Philippines when Magellan discovered the Islands in 1521, and Legaspi made his pacts with sultans when he came from Cebu in 1571 to found Manila. The same rule existed over Java and Borneo. Arabia's commercial and cultural dominion over the Far East is at least older than the discovery of the Philippines by Spain. Arabian sailing boats from the Persian gulf visited particularly Java, Borneo, Sumatra, Timor and the Moluccas, the Philippines and the shores of China and Indochina, for trade purposes. The most valuable goods procurable were spices and drugs; there iwas lively traffic in aloes, benzoin, camphor, cinnamon, cloves, cubeb, ginger, mace, musk, nard, nutmeg, opium, pepper, and rhubarb, besides other balsams, spices, dyes, resins and rare woods, thL larger items on the manifests always being drugs for medical purposes. All found its way to Constantinople, thence to Venice in Venetian ships, the shipping of such cargoes across the Mediterranean having been one of the most lucrative branches of commerce of all time, and monopolized by the prudent Venetian republic during more than 500 years. Economical conditions were influenced by the same rules. War has always enhanced prices of merchandise, as it does today. The Crusades in the period from 1096 to 1276 raised the prices of drugs from the Far East, and also increased remarkably the profits of the Venetian merchants. This period theriefore, so, deleterious for England, France and Ger.many, saw the Republic of San Marco flourishing at its best, the bride of the busy Adriatic, and the annual solemnities of this betrothal were celebrated by Venice with thq utmost pomp and splendor. Aboard the Bucentaurus, the state ship, accompanied by hundreds of galleys decorated to the last degree of ostentation, the Doge sailed majestically to the open sea and tossed into its restive depths a golden circlet symbolic of the union between it and his magnificent city. Venice's drug trade figured keen, ly i- her struggles with Genoa and the Ottomans for supremacy in the Mediterranean. Genoa had to yield in the battle of Chioggia, 1380, but the fall of Constantinople to the Turks and the consequent end of the Eastern Empire turned the tide against Venice in 1453. Supplies became scarce, prices rose exorbitantly, especially the price of pepper, and Venice was squeezed. The political situation in the Near East was entirely changed, all Europe could well lament repeated refusals of its rulers to succor Constantinople during its long heroic resistance to the Ottoman siege. Old routes being closed, now the Portuguese were spurred on more than ever to find a route to the East, other than by way of the Mediterranean, and in 1498 Vasco da Gama found his way round Africa to Caliiut-he had reached India! This, was Venice's final doom, and helr place of supremacy in the trade in drugs and spices was soon taken by Lisbon, the city that for the next century was to be the center of that commerce with the Far East. The Portuguese swept on, lagging Europe unable to challenge her, and Portuguese settlements and factories rose [Continued on page 11] The American Chamber of Commterce Jourlnal APril, 1941 9'

American Chamber of Commerce of the Philippines DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary ALTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Oundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs E. A. Perkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M, Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairnam E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meacher E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Hellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather-Rattan) S. M. Jones (Sugar) J. L. Headington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen J. P. McPherson H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean Hellis T. Kevin Mallen A. P. Ames L. M. Hausman H. L. Suarez times. There's no place like home, even with a side or two of it blown away, or with it all bombed into a scrap. heap. We will stay with ours, thank you Messrs. les bombardiers. As long as Chico carols to us, we'll be right there to bathe him and change his cage, refill his drinking and seed cups and see that he has cuttlebone. The same with Watch; as long as she keeps her vigils, she can rely on her wages: her pottage and her occa. sional bone, all faithfully earned. And the same with the flowers, the same with the help, too; we'll stay on and do our part in keeping bargains. Nor have we seen reports on the efficiency of military bombing that deter. mine such a course not to be the wisest; and in any case, in our earlier years in the Philippines we lived with malaria, typhoid, dysentery and cholera long enough to have our fill of them. We stay in Manila, where, if water mains burst, there's always the river and you can always boil the water, even in the back yard should there be neither gas nor current. We are assured at Commissioner Sayre's office that the constituted authorities have planned and will carry out measures for civilian protection in case of war. We hope these plans include no project for evacuating civilians to the provinces, since we know the cure would be worse than the disease. Neither can the blackout apply altogether to Manila. Electric power could hardly be cut off during one hour without impairing fresh food stocks. Hospitals could not be closed and curtained for many minutes together Without bringing on suffocation for patients and personnel alike, and some places, such as hospitals, even with windows left open, as would be necessary, would require some light. Besides, with our tropical moon rounding to a full every lunar month, enemy planes, if ever any were planning to come overt would ignore blackouts and wait for the moon. In the end, it must all simmer down to just that. As to civilians, home may be made a ruin, but a ruined home will be preferable to ary substitute refuge in the Philippines. CHALLENGING THE TIDES We quote briefly from the National City Bank's February economic review: "The business news continues all of one kind. The industries are driving hard and expanding to meet the defense program, and increasing employment and payrolls keep trade at high figures. Although factory shipments are breaking records, unfilled orders in most lines have risen further. Some observers had expected business to moderate during the Winter, either because of seasonal influences or because buying might lag after forward commitments were built up. In fact, however, the holiday slackening was less than usual and the pickup afterward sharper than looked for. The rebound of automobile production to the Fall peak, which reflects unseasonally good sales as well as desire to build up dealers' stocks, impressively illustrates the strong trade and industrial position. "Although the security markets are affected by many anxieties, commodities are in strong demand, and in a significant number of cases prices are being held down only by the self-restraint of sellers. Despite all misgivings, buyers want to be covered ahead. They are hearing more talk of priorities, they see numerous examples now of prompt deliveries being rationed by sellers or commanding premium prices, and they are apprehensive of rising costs to come and of the effects on prices, even in cases where raw material supplies are abundant and productive facilities adequate. For these reasons forward buying is as much in favor as at any time since The American Chamber of Commerce Jour61.4April../.oi WHERE TO BE BOMBED In February when we were a hospital case, we gave thought to what we might do in the event that war visited the Philippines and Manila suffered bombing raids. President Quezon's invitation to Manilans to go picnicking in the mountains was cordial and sounded audaciously good, until you remembered that there's no gainful work in the mountains and there are ants, flies, and mosquitoes. The key to fairly salubrious contemporary life in the Philippines is urbanization; the wayl to insure pestilence in this country far more fearful than war could be, would be to evacuate urban populations to the provinces, where health could not be maintained 24 hours. For example, Manila has no malaria; the mountains everywhere do have it; Philippine mountains are as beautiful, and lethally deceptive, as Borgian banquet cups: you drink of their wimpling streams at your peril. Thinking it all over, we decided for home at all 10 (

I i I 2 the upswing started, and doubtless would be still more widespread if sellers would accept more orders." This is a partial but accurate picture of the market situation in the homeland, almost the only source of goods still available to the Philippines. It is evident that under the best of circumstances, this year's goods will be hard to get; and that the Manila market is coming to be chronically short of staples is no surprise. It is equally evident that Malacanan's executive order fixing maxiirritim retail prices for items of prime necessity has been dated by intervening circumstances and should be revoked in order that merchants will again be encouraged to buy as heavily as possible in the American market and maintain stocks. Factory prices are rising, a long war appears to lie ahead; if they were not restrained by that maximum price list, either precluding profit or promising actual loss, merchants would probably buy as much as they could at current quotations and put the Manlia market in much better shape, than it now is. However ineffective the order has been, as long as it stands nominally in force it is a challenge to the tides: it may not effect its purpose, but it may keep staple imports at a minimum and on a ship to ship basis, so it may stimulate prices rather than level them off, by keeping the supply of goods actually short of current requirements. Natural Drugs and Continued from page 9 at Ormuz and Goa, at Banda and Amboina, Ceylon, Sumatra, Timor, Cochinchina, China, and Japan. Drugs were the predominant cargoes for Europe. Profitt was fabulous, cloves bought for 2 ducats in the Moluccas sold for 1680 ducats in London (Garrison). Spain, rich and populous, as wealth and population then wvent in western Europe, envied this situation and moved to circumvent it. Charles V outfitted Magellan, who believed he could reach the Spic.e Islands by sailing west round the Americas, and that they lay on Spain's side of the demarcation line (now known to be the parallel between Tokio and Adelaide). Magellan died at Mactan, in the Philip pines, but one of his original 5 ships, the 80-ton Victoria, at last got back to Spain with Del Cano and 19 men, and drugs and spices enough from the Spice Islands to defray the whole cost of that memorable first circumnavigation and leave all hands a material profit, Charles V too. Spain had glory, handsomely deserved, but not the Moluccas. Before the end of that struggle, the Moluc[Continued on next page] Saints Are Manila's... Continued from page 8 Lady of the Rosary had effected Manila's salvation. No one doubts the power of faith. A modern foe would probably find Filipinos resisting him with such weapons as they could muster, like men turned tigers. They would no doubt defend their homes and parishes, new churches and old alike. In 1907, valuables, most of them jeweled, that had been bestowed on Our Lady of the Rosary at the Dominican church numbered 661. Diamonds, sapphires and rubies are the principal jewels in these gifts, diamonds predominating. This property, comprising a fortune, being in the custody of the confraternity, is not extensively exhibited save during the festivals in honor of the saint. THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. * Subscriptions P4 a year - Foreign P6 L Here's Libby to s Famous Juices I Just the thing for these hot daysOrder a dozen assorted cans today...W — Tie Anmerican Chamber of Commerce Journal A., 1.94,1 11

cas were where they now are, in the hands of the Dutch. In breaking loose from Philip II they had made themselves powerful on the sea and had taken the lead in the trade at Lisbon and even with Spain; before the close of the 16th century the export and import trade between northern and southern Europe was nearly completely controlled by the Dutch, and they were anxiously seeking the secret of the sea route to. the East Indies and the Far East. This secret Portugal guarded so jealously that the persevering Dutch did not get hold of it until 1595-1596, almost a century subsequent to Da Gama's voyage. It came to them then by way of published reports from a Dutch sailor who had served in the Portuguese East Indian fleet, and told of his travels to India and the Moluccas. Portugal had come under the crown of Spain 15 years earlier, and this seems to have weakened her protection of her outposts. The Dutch wisely abstained from challenging Spain in the Americas, where England did so, and gave their attention to the Far East, where the settlements were less ably defended. The Moluccas were conquered, after many enlivening sea fights. The center of the spice and drug trade went from Lisbon to Amsterdam and during the 17th century enriched Hol I Up to Cooler Grounds Go to the highlands and escape the lowland heat. As in the past, Baguio, the summer capital and playground of the nation, will be this season's rendezvous FOR FUN * VACATION * AND RESTCURE Go Join the Holiday Crowd VIA MRR The Way of the Nation Comfortable. Fast. Safe ~ Economical Fast expresses leave Manila daily. At Damortis passengers for Baguio alight and transfer to sturdy and suredriven modern buses of the Benguet Auto Line. From your town to Baguio a pleasure ride throughout. Manila-Baguio, air-conditioned class, P11.39 See Your Railroad Agent I I land in almost unbelievable ways. Measures taken by the Dutch to establish their monopoly in the drug and spice trade and keep it un. disturbed read like fairy tales. Cloves were introduced in Amboi. na, and all the Moluccan cloves were destroyed. The entire nutmeg stock was once held at Amsterdam for 16 years, and nutmeg kernels on Banda were treated with milk of lime to preclude their sprouting and being propagated. These are examples of what was done. But England had risen to power under Queen Elizabeth, and in 1588 had defeated the Spanish Armada designed to conquer her. Spain out of the way, England began paying naval and commercial attention to the Dutch, and would seize Holland's drug and spice ships on the seas and bring them into English ports. Then the East India Company was chartered, rivaling Holland's, and clashes between English fleets and Dutch fleets came to be regular sea business. Holland was not deprived of her eastern colonial empire, but England did succeed in almost complete control of the drug and spice trade, shifting it from Amsterdam to London as the Dutch had shifted it themselves from Lisbon to Amsterdam; and so, as for nearly 200 years, the situation rests today. Drugs out of the East that are so essential to the health of suffering people have provoked annihilating wars through the centuries, and changed more than once the political and economic structure of western Europe. Grosser products-tin, rubbcr, coconuts, palm kernels-are thought of when future domination of the East Indies is considered, but drugs and spices are by no means in the b:ackground of that dramatic panorama of modern surmise. I I I Gen. Information Telephone 4-98-61 IIFbL U 'N. Traffic Manager Tels. 4-70-57 4-70-58 IL KLEIN Electrician's Pliers and Linemen's Equipment REPRESENTING THE HIGHEST STANDARD IN THE FIELD E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 rj MANILA RAILROAD COMPANY The National Transport System Tutuban Central, 943 Azcarraga, Manila, Philippines 12 ( The American Chamber of Commerce Journdl April, l.41

Translation from Dr. Palma Concluding a translation of the late Dr. Rafael Palma's commentary on the Filipino Family. The Spanish custom for swains to declare their love and pay court to their sweethearts before marriage, modified somewhat the ancient practice among Filipinos, for the parents to choose their daughters' future consorts. So we observe that during the Spanish period young people engaged to one another did not marry at once, but passed through a sort of novitiate. Swains were often required to enter service in the home of their sweethearts, in the position of domestics, that the girls' parents might observe their conduct and temperament. In this way the parents were sure of providing their daughters worthy husbands. However, this was not usual in the higher classes, where the suitor simply paid frequent visits to his sweetheart in her home, safely barricaded by her parents, and sent presents to win the parents' sympathy. The girl's conduct was usually timid and reserved. On occasion she would not venture from her room to meet her suitor, who had to content himself with a fleeting glance, and concert with the mother, or an aunt, or perhaps the girl's little sisters, in order to have his protestations properly conveyed. Now if the girl softens enough to come into the sala, it is only to be as distant from her anxious lover as the room permits; she sits on a bench or sofa, opposite him, always accompanied by members of her family. In these circumstances, the suitor avails himself of correspondence to divulge the sentiments of his heart; and the amorous relations between man and maid endure years on years in this formal way, until the girl's parents consent to fix the day for the wedding. The serenade is another device to establish communications with the girl, and its origin is wholly Spanish. The suitor rallies some of his friends who are musicians and goes with them to the girl's home, preferably in the later hours of evening. Once there, and grouped beneath the window suspected to open from the room where the girl is sleeping, the young lieutenants of Cupid burst into love songs with guitar accompaniment. Indisposed toward the assault, the girl pays no attention, but on occasion the parents' hospitality opens the doors of the house and invites the musicians in for refreshments; but even so, the girl, in a multitude of cases, because of the surprise and embarrassmert thle incident entails, makes no appearance. The custom of giving the girl's parents a sum of money or property of value sub sisted in rural communities among the humbler folk, as it still does. Marriage among Christian Filipinos commonly takes place at the church. Among the wealthier families it is accompanied by pomp and solemnity as in ancient times. It transpires even today that the bridal couple makes the rounds of the principal streets, the cynosures of a bridal procession made up of their friends and relatives and accompanied by the parish band, before going to the church for the ceremony. [Continued on page 28] L ----------- ~NJOY rwA A With new products, improved methods, Shellubrication assures you extra miles of quiet trouble-free operation. Take your car to one of these Shell Super Service, Stations: SHELL LUNETA AYALA BRIDGE TAFT AVE., HIERRAN SHELLUBRICATION I 7'lr, -'imerican Chamber of Commerce Journal *~ 11i!, 19.I1) 13

Ad i dot * 4*6 0 0 0 0 Ei: vi: 4,: ~: S An:; ' k' "MONEY IN YOUR POCKET" ",O — ~ rf AVN~GS i 1. 3 *c~'- -: - w:#_t.LE The JMA Jackmill has an air-operated feed mechanism. It hot mills 110 to 180 Jackbits per hour. Its single cutter sharpens and gauges 40,000 to 60,000 bits before it becomes dull. I l The JMB Jackmill hot mills 75 to 90 Jackbits per hour. It also uses a single cutter, which sharpens and gauges from 15,000 to 30,000 Jackbits before dulling. A Jackmill. cutter can be reground a number of times so that the cutter cost per Jackbit sharpened runs less than 1/10 of a cent. I Due to a slight running of metal during the milling operation, it is possible to hold the bit's gauge size longer. This increases the number of Jackbit usages 30~%0 to 5070. Jackmills will sharpen any type of Jackbit. Cutters can be furnished for four point, six point, and Carr bits. Adjustments are easily made. 1 S~ ~After the hot milling operation, each bit is rehardened. This me "%new-bit" performance. Write for Bulletin 2579 or see the nearest I-R branch office for further information about these machines. USE JACKBITS AND A JACKLILL A REAL COST-CUTTING COMBINAT 4 O-ij~T.0f q

I Mining Sidelights from the United States Mining engineers in demand in America... Problems of the stockpile for Defense... Zinc thc chief headache.. Copper supplemented from South America... Outlook for Chromite. - _ --- —-----------------------.By W. F. Boericke NMany engineers in the United States today are busier than they were 3 years ago when I left America to go to the Philippines. This is not to say that there is a long list of positions open in the mining industry, or that an eager line of employers extends a welcome to every engineer who indicates he is open to a proposition. But undoubtedly the tempo has quickened in the mining industry. A consulting engineer, an expert in his line, whom last I saw in Washington in 1937 with time to burn, was working day and night in San Francisco when I arrived back there. Two weeks later I met him just returning home; in his office that afternoon a long distance call summoned him immediately to the west again for a conference. His case was not unusual. The war has put a heavy strain on the mining industry, and in many divisions of it production is being crowded to the limit. The Bureau of Mines at Washington has expanded its personnel. Men have been called in from field work and assigned jobs in Washington to aid the defense board. The New York meeting of the American Institute of Mining Engineers had the largest attendance on record, and for the first time there I saw a special desk where a representative of the civil service was stationed to give information on positions awaiting metallurgists and other technicians in the government service. In Washington the air was filled with more or less reliable rumors that the defense board needed mineral experts, that engineers capable of making valuations of strategic minerals were being sought, and I was directly informed that almost anyone with engineering experience was being placed on inspection work by the government agencies who were directing the huge purchases for the Army and the Navy. However, these latter positions are temporary in character and the salary would hardly attract an able man. In 1937 gold held the spotlight in the mining industry. Today the gold mines are still going strong, but for the first time in 10 years gold production in California declined and the value of the output in 1940 was less than that of 1939. The conclusion seems justified that there was less attention given to gold mining, at least in a relative sense, than in former years. The quicksilver mines in California and Nevada have the call, mercury selling at about double its normal price. Much the same can be said for tungsten producers. The situation in chromite and manganese is urgent, but by no means panicky. It is alleviated by large stockpiles of ore that have been accumulated by government agencies. Plans are being made by the Bureau of Mines to examine, evaluate, and possibly aid in the exploitation of various marginal and low grade deposits in the west. The Metal Reserve Corporation has been set up as a sort of subsidiary of the procurement division of the Treasury, which Pig tin on the dock at Georgetown, capital of Penang, Straits Settlements, awaiting shipment to New York. CJirteffn-Engineering & Mining Journal. -- - *- -,-: ----:- - ~ --- —------ r~ -.;;-7^^~L ---~. ' * * * -. *"*"' ". -~ ~~~~~~~~~~~I~ - ' - i '^:": " ' '' ' ':.*' *" X *:^ '*'! },,sE,,,,,. *, jv..;,,,:.; ~.s.' I^ %( & i-^ii ~.."** t^^ 7,hl, American Chamber of Commerce Journal 15

formerly constituted the buying agency for the government for strategic minerals. Specifications for chromite have been considerably eased, ores containing 45% chromite are now acceptable-provided the chrome-iron ratio is in line; and while formerly only lump chromite was desired, I am informed that ore of any size less than 6 inches will be taken without protest. The shipping situation is the sorest point in the chromite setup. A prominent government engineer spoke bitterly of the steady rise in freight rates from the Orient to Atlantic ports which are now more than 100% higher than the prewar figure, and which he declared were thoroughly unjustified. So far as he was concerned, he declared vehemently, he would oppose any further increase in the price paid for ores, which would only result, if precedent were followed, in an increased freight rate rather than in a benefit to the miner that would stimulate production. Were a fair rate assured, he said, the government would take the entire chromite production of the Philippines for the next 2 to 3 years. While the statements of this official had reference especially to chromite of metallurgical grade, there was considerable talk of the government's purchasing a stock of large tonnage of lower grade ore suitable for refractory use in order to build up a stockpile for industrial users. With the steel trade booming on account of Defense orders and blast furnaces operating at full capacity, the demand for refractory brick for relining furnaces is very heavy. The traveler across the Pittsburgh area Courtesy-Mining CongreRsh Journal. Trenching for chromite, Grant Co., Oregon. gets a vivid realization of this at night, when he sees mile after mile along the river front ablaze with light and flame from the furnaces and foundries. If the average engineer were asked what was the most serious shortage today in America in the field of min _ - Lovsted Products For Mining Industry MO-LO Piston Ring Bushings and Solids (190 sizes in Manila stock), Castings, Cylinder Sleeves. TIGER BRONZE Bushings, Solid Rounds and Solid Hexagons (130 sizes in Manila stock). TIGER BRONZE Mill Bearings, Locomotive Bearings, Car Jour. nal Bearings. LOVSTED Babbitt Metals "Pioneer Nickel" Babbirtt "Armature" Babbitt "Railroad" Babbitt "Anti-Friction" Babbitt C.M.LOV (MANI 215 Thirteenth St P. 0. Box 1193 CUMMINS-Diesel Engines (from 40 to 250 HP) for Industrial and Automotive Service. RAILROAD Equipment and Cars, Track Materials, Portable Track Ties,. Car Springs, Wheels. TRANSMISSION Equipment, Roller Chains, Sprockets, Gears, IXL Speed Reducers, Pillow Block Bearings. TOOTS-E Signal Systems, for Mills, Mines, Loggers. TIMKEN Rock Bits and Drill Steels in various gauges and lengths. rEDI & CO. ) LTD. Port Arza, Manila Pho-'e 2-33-13 I erals, quite likely he would guess chromite, manganese, or tin. He would be wrong. As this is written (March 1), zinc, that Cinderella of metals, is causing headaches all along the line. Government officials are obliged to assign priority to manufacturers who are engaged in wardefense work, and a lot of acrimonious protests are encountered from those who simply can't get zinc-because there isn't enough zinc to go round. The situation has risen within a very few months, and was not felt nor anticipated until the fall of France and the inability of Britain to obtain normal zinc supplies from the French and the Belgian smelters. American zinc refiners are now producing about 60,000 tons of metal monthly from domestic ores and 5,000 tons from imported ores. This is insufficient for demands of defense manufacturers and industry. The brass manufacturers are going at top speed on the armament program, and brass is 30 % zinc. The manufacturers of nonessential commodities such as die castings have been notified to use substitutes if possible, and this rich market for zinc may be entirely lost after the war: to plastics, for example. Thus while the zinc smelters are prosperous today, they look for The American Chamtbcr of C'owcerc Jou)nal April. 1.94 31 1pi [L, reet, I 16 (

a time of reckoning later on and are none too happy over the outlook. It is not a question of scarcity of zinc ore, though it is true that there have been no new major discoveries of zinc ore in the United States for a long time past. But there is still a lot of ore in the Tristate field and the Coeur d' Alenes to be mined, and the difficulty is in limited smelter capacityr in the United States for zinc ores rather than in a limited supply of the ore itself. It appears likely that the stringency will continue for some months ahead. With respect to copper the situation is not so bad. There is a very heavy demand for the metal that at the moment appears to exceed the capacity of the domestic mines. In January, nearly 110,000 tons of copper were shipped, the highest total in the country's history. It is estimated that domestic output may reach 1,100,000 tons for the year, plus 100,000 tons from South America. If additional metal is needed, the government can call on Chile or Peru for more copper, and this should be forthcoming to supply defense needs as well as industrial requirements. The United States is of course entirely dependent on foreign suppliers for tin, but the government has accumulated a considerable stock and there does not appear to be any danger of an immediate shortage. It has been announced that the RFC will build a tin smelter somewhere in the South to be operated by a Dutch firm, with a capacity of 18,000 tons These men will suggest plans for effective reorganization of the bureaus and give what aid they can for the purpose. It is believed that this will promote interest by American capital in South American mining development as well as cultivate a cordial relationship between the republics and the United States, which should be for the benefit of all. Considerable. additional funds have been allocated to the Bureau of Mines for this purpose. The labor situation is serious enough in many mines. Deep concern is felt that the Defense Program is not progressing as fast as it should, on account of demands of labor that have resulted in strikes and consequent delay of production. Despite the high rate of industrial activity and mounting indices of trade, Wall Street continues to be spiritless and speculative activity is at its lowest ebb. New promotions in the mining industry, if new registrations at the Securities & Exchange Commission are any guide, are virtually nonexistent. In effort to ease its former requirements, the Commission has lately amended its rules for corporations of $100,000 or less capital, and made registrations very much less time consuming and expensive. How (,olurtcsy-Mizning Congress Journal. Manganese outcrop, Lake Sutherland, Washington. per year. Bolivian tin concentrates will be used. Several Bureau of Mines engineers are being sent to South American republics for reconnaissance purposes in conjunction with the respective mining bureaus of those countries. ENGINEERING EQUIPMENT AND ( INCORPORATED) E. Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila 'c Engineering Shops: Shop Tel. 5-67-76 Mandaluyong, Rizal DEALERS IN: SUPPLY CO. Office Tel. 2-41-41 DUPLEX AND TRIPLEX PUMPS SHOVELS, BUCKETS, CRANES MINE WOOD TANKS STEEL TANKS AGITATORS, THICKENERS ROCK DRILLS PRECIPITATION EQUIPMENT MERRILLITE ZINC DUST PUNCHES, SHEARS WOODWORKING MACHINES ROTARY FILTERS MARINE DIESELS EXPLOSIVES POWER BOATS OUTBOARD MOTORS WELDING RODS MELTING & TILTING FURNACES HACKSAW MACHINES TROLLEYS DIESEL LOCOMOTIVES DRILLING MACHINES CONVEYORS RECORDING INSTRUMENTS ELECTRIC TOOLS ELECTRIC MOTORS BALL MILLS CONTOUR STEEL CUTTING MACHINES AIR CONDITIONING EQUIPT. MECHANICAL PACKING LEATHER BELTING VEE-BELTS BRONZE BUSHINGS CARBIDE LAMPS PNEUMATIC TOOLS TUBULAR BOILERS ALLUMINIUM CASTINGS SURVEYING EQUIPMENT LOGGING EQUIPMENT MINE HOISTS STATIONARY DIESELS BLASTING SUPPLIES PROPELLERS ROAD ROLLERS WELDING EQUIPMENT WATER, OIL & GAS METERS VALVES OF ALL KINDS SHAPERS, LATHES BELT HOOKS MAGNETIC SEPARATORS SAWS, SAWTEETH THERMOMETERS GRINDERS GENERATORS OIL BURNER EQUIPMENT CABLE CLIPS REFRIGERATION EQUIPT. ELECTRIC WELDERS TRUCK AND MINE SCALES CENTRIFUGAL PUMPS CONCENTRATING TABLES FLOTATION CELLS MINERAL JIGS VACUUM PUMPS FIRE FIGHTING EQUIPMENT BLOWERS, DRILL PRESS COM PRESSORS CIRCULAR SAWMILLS PILE HAMMERS GASOLINE ENGINES NAUTICAL INSTRUMENTS STUFFING BOXES TURBINE PUMPS ELECTRIC HOISTS SHEET METAL TOOLS BABBITT METALS DRILL STEEL CHAINS, WINCHES CRUSHERS, SCREENS MINING PICKS MINING SHOVELS CONCRETE VIBRATORS ELECTRICAL APPARATUS DREDGES OF ALL KINDS LOGGING BLOCKS CONCRETE MACHINERY HOISTS FOR DUMP BODIES T(,' American Chamber of Commerce Journal A?ri/, I;),, 17

ever, there has been little if any response from the mining industry to date. Discouragingly little is known, speaking generally, of the import *' ' `~'~ "` /.. ~.~.~..~.~~-~ i.~i,.,. '~'~.~.~ ~:~- ~.~ ~.~ ~-~ I.~:~...r.;'-1::..... ~.~.'.)/. -i':~:~ -.-. ~~;~,-.~ '~.~' I ' ',, ~, ~ —~~ ~-~~ -~ R:~ —~~~ -~' — ~~ ''':.~~.~ The concentrator of the American Line Co. of Tennessee at Mascot, in the background. ance of the Philippine mining industry by the average American businessman. The plain truth is that the mineral production of the Philippines has never been advertised nor publicised to any extent-except by the technical press. I believe that at least Cnourtesq-PinKngneering, & Mining Jouinw, l TELLS; ITS IOWNv STOR^sX A,^, ' '.._ /. ' part of the general ignorance is due to the unfortunate custom of the Bu. reau of Mines (of the United States) and similar agencies, of combining the gold production of the United States along with that of the Philip. pines and labelling the total as the gold output of the United States. Technically of course, as the Philippines are still a part of United States territory, this is correct, but actually it gives a thoroughly misleading impression. The average reader, unless specifically informed, will quite naturally assume that all the output comes from the continental United States. In 1940 the Philippines gold output was about 18% of the entire gold output of the United States, as claimed by the Bureau of Mines, but actually it was over 22% of that of the continental United States and Alaska. Put in another way, the increase in gold output by continental United States was 152,079 ounces, while that of the Philippines alone was over 80,000 ounces, more than half as great as that of continental United States. However, it must be sorrowfully admitted that even if the significance of these figures were generally appreciated in America, the attitude of the man in the street is today so apathetic to gold that it might not affect the situation a great deal-one way or the other. The photograph above shows you how Goodyear Air Hose (left) compares with other makes after the same length of service under identical conditions. Note that the tube of the Goodyear Hose shows practically no deterioration from oil-whereas the other is deeply rotted and flaking badly! This service-proved construction is embodied in all five brands of Goodyear Air Hose for every type of service. This slow-aging, non-cracking, oil-resisting tube-an exclusive development of the world's largest rubber manufacturer-explains why Goodyear Air Hose gives long wear and low cost service without clogging tools! THE GOODYEAR TIRE & RUBBER EXPORT CO., LTD. Manila Cebu Bacolod Industrial uses for silver include its application as a bearing metal in motors and its possible replacement of tin as a lining for metal containers for food and beverages. Silver's use in photography may be lessened on account of the development of color photography however. Arsenic and antimony if present in quartz in a gold ore cause considerable trouble from fouling of the mercury in amalgamation as well as in increasing cyanide consumption. -- M - 18 The American Chamber of Conmmerce Journl' April, j941 K

The Stock Markets - By Ovejero & Hall MANILA-March 15th The publication of many excellent 1940 earnings statements and annual reports, coupled with a record number of first quarter dividend announcements have stimulated selective demand fo;:r the better placed mining issues. As measured by the M.S.E. average the rise is of moderate proportions. The index at its closing level of 44.16 is up 1.60 over the month, but once again it does not fully reflect market movements as some of the more active situations are not included therein, also some issues have gone ex-dividend over the period. Closing prices of more active shares compared with a month ago: at record high levels, comfortably exceediing the highest points reached during 1929 and 1937, it is obvious that the reason for the market's unwillingness to take a more optimistic viewpoirt of the future lies elsewhere. It is generally conceded that speculative apathy in the face of the excellent outlook for industry arises from uncertainty regarding Brf'ain', ability to withstand the anticipated spring Blitzkrieg, the effects of transition of the domestic economy from a Peace to War time basis, and lastly the probable impact of increased taxation plus the 'effect of higher wages on corporate earnings. While the recent market action suggests that the foregoing factors are still a restraining influence, there are no technical indications of any broad liquidating movement to come. It may well be the old market adage I I 'I~~~~~~~~~I M Mar..15th Atok Gold........24 Benguct Conso..... 3.50 Itogon........... 14-3/4 x-D I X L..........24 Lepano......... 14 Masbate......... 9-1/4 Mind. Mothet Lo(le 12-1/4 Surigao Conso... 20-1/2 United Paracale.. 15 Feb..1th Change 21 + 3 c 3.50 unchanged 15 -- 1/4 c 23 + 1 c 13-1/4 + 3/4 c 8-3/4 + 1/2 c 11-1/4 + 1 c 18 + 2-1/2 c 12-1/4 4- 2-3/4 c D.. L Total number of shares traded from February 16th to March 15th inclusive amounted to 8,408,764 shares valued at P791,897.29 as compared with 24,440,263 valued at P834,434.-. There is no change in the short position. Although as recorded above, some improvement has occurred, speculative and investment demand continue to appraise the future very soberly in view of continued uncertainty regarding the Oriental situation. Until the outlook improves, capital is unlikely to become unduly venturesome. I NEW YORK-March 15th Not since the last day of 1940 has a million-share session been registered in Wall Street. Market fluctuations as registered by the closing Dow Jones Industrial and Rail averages have been as follows: Change Feb. 17th High Low Mar. I.;th Pts. % Indus. trials 119.18 123.64 117.94 123.40 +4.22 +3.5% Rails 26.79 28.18 26.56 28.09 +1.30 +4.8% As will be noted from the above, prices show a small recovery from the February lows. With Industrial activity, as meaSured by the New York Times Index, The American Chamber of Commerce Journal April. 1941 FULL AUTOMATIC ELECTRIC HOIST Shop view of ALLIS-CHALMERS full automatic electric hoist-12,000 lbs.-600 F.P.M. rope speed, with oil operated brake and clutch engines, furnished one at Itogon Mining Co. and one at San Mauricio Mining Co. THE LARGEST MINE HOIST IN THE PHILIPPINES Supplied by THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu 0 - --- - I 19

that ihews known is news discounted, once again holds true. Actually, the price pattern at the present time, is suggestive of higher security prices in the future rather than lower. This may result from a revival of inflationary psychology as the government is likely to encounter increasing difficulty in preventing a, rise in the general price structure which has been so successfully done up to the present. We do not intend to suggest for a moment that any pronounced rise in the cost of living will occur, but it is likely that some advance will be witnessed. Should, these circumstances come to pass, it is probable that the present passion for liquidity will lose some of its appeal and some movement from cash to equities and other forms of real property will again be witnessed. Management is a factor in business enterprise that cannot be evaluated by any mathematical formula, but which must be given the largest consideration by any appraiser. Many an indifferently good mine has been made into a dividend payer by competent management; many a first class property has been ruined by management that was unable to manage. The mark PROTECT THE ENGINES AGAINST WEAR AND BREAKDOWNS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS of a good mine manager is his abi. lity to choose capable assistants, his willingness to delegate responsibili. ty to them, along with the detailed work that he is physically in. capable of doing himself, and his firmness in backing up their au. thority with the men under their control. The weak manager is he who tries to do so much that he fails to cover the important things; his assistants lose interest in their work because they have no real authority and their decisions are likely to be over. ruled on any passing whim. If the manager is so indiscrete as to give orders to the men over his foreman's head, he will not only earn the dislike of the foreman but the contempt of the men as well. It is all sized up perfectly in a bit of verse by Burton Braley: BILL AND THE SUPE Now listen to me, while I tells to you, The tale of the Supe and Bill McGrue: Bill he was taking a little smoke After drilling his holes in the stuffy stope, And leaning back on a timber car He touches his lamp to a bum cigar. He scarcely more than gets a light When a guy in overalls heaves in sight! "Taking a rest?" says he to Bill. "You bet!" says William, and sits right still. "Ain't you got nothing at all to do?" "I have," says Bill, "when I'm ready to!" "What would you do," says the stranger-guy "If the shift-boss should happen to wander by?" "I'd set," says Bill, "like a tired bloke And take my time for my rest and smoke." "Well! I reckon you don't know who I am!" "I don't," says William, "nor care a damn!" "I am the Superintendent here!" Bill's grin extended from ear to ear. "The Supe," he says, "of the whole big mine!" "That's bully!" says he, "That's grand, that's fine! A mighty good job for a man to gitIf I was you, I'd attend to it!" I I 0 I f I V F h -1 F f r N C tIq S B f, h( t. sc 'A' B Si R~ i( n kh a r. I' Tll no \ V ALWAYS CHOOSE DE LAVAL PURIFIERS v -1 I THEY GIVE THE HIGHEST DEGREE OF SEPARATING EFFICIENCY Sole Agents Sole Agents KOPPEL (PHILIPPINES) INCORPORATED lLOILO MANILA CEBU Br-omine, obtained principally from salt brines, is used chiefly for anti-knock motor fuels. In war time if it is necessary to use poison gas, it is essential for asphyziating gases. Demand for industrial diamonds has increased rapidly in the last few years and in the United States and Canada alone about 2,500,000 carats are used annually I I 20 The American Chamber of Commerce Journ41 April, J941 L( (

I I A. H. Shoemaker was in Paracale on business for his company. J. W. Brady h'.s left the Capsay Mine and is now with the Big Wedge Company in Baguio. * * * Mitchell Major, of the United Paracale Company, came to Manila to meet his wife who recently arrived from California. * * * E. W. Ellis, formerly with the Engineering Equipment & Supp'y Co., Inc., is now located in Los Angeles. * * * J. E. H. Stevenot, chairman of the Board of the Pan-Philippines Corporation, operatois of the Treasure Island Mining Co., has returned by clipper from a vacation and business trip to the United States. L. H. Hinckley, of the Northern Miningproperty in Tuba, Tayabas, has been in I-. nmla. * * * George Newman, geological engineer for Marsinan & Co., flew to Singapore and Batavia on business. * a I. C. Spotte was a recent Manila visitor frlom Malaguit. * * * D. L Gardner, Marsman geologist for the southern division, was in Manila for a few days. * * * jR. E. Miller, mine superintendent of Benguet Consolidated, recently spent a few days in Manila. * * * Win. A. Hootan, general superintendent of the Mapaso mine, is planning to leave for the States shortly. * * * A. H. Hight, general superintendent of Surigao Consolidated, successfully underwent an operation during the month at St. Luke's hospital. Paul A. Schwab has been in Baguio inspectieng the Virac property there in which le is interested. * * * Robert Brown of Batong Buhay, spent a few days in Manila recently. * * * Mark Clardy, Soriano geologist, has been transfered, and is now' at Masbate Consolidated.... * * Mark Hubbard, general superintendent of Capsay, was in Manila recently on business fo,r his company. * * * W. F. Boericke, chief of valuation for the Bureau oi Mines, has returned from a three month vacation in the United States and has resumed his work with the Bureau. * * * illiam F. Booker has gone to Baguio as line superintendent of the Demonstraion mine, having left a similar position n Paracale at the North Calmarines mine. * * * endell Fertig, general superintendent of e Samar Iron Mine, accompanied by his anily. has been in Manila on a vacation. * * * 'V. Canning, mill superintendent of SuIgao Consolidated, is taking a three [onth vacation in the States. N. N. Lim and J. Garcia, valuation engineers with the Bureau Mines, h-ave been engaged in professional work at the Ma-sbate Consolidated Mine. 0@.. A TEXACO URSA OILS are making amazing records everywhere in improving the efficiency of diesel power plants of all sizes. Owners switching to Ursa Oils report free pistons, low wear and remarkable engine cleanliness, with perfectly sealed compression providing full power and efficiency at all times. Maintenance costs and time loss for repairs and overhauls are sharply reduced. Call our engineer for discussion of any lubrication problem, or write us. CALTEX (PHILIPPINES) INC. MAN ILA ---BAGUIO-PARACALE-CEBU —ILOILO-LEGASPI I Ip em I e Aerican Chamber of Commere Journal r 41, t.4,1 21

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940, complete and for the first 2 months of 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. (

SUYOC COCO GROVE DEMONSTRATION... -- Rl u i- F:3 -=j - L= MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAUS,.,_..Jo_ ~ --- 11-o -:-hjjlj.,._.nn -- __ _..== 4.Q0"'~__ The Mining Industry -Tabulated Statistics Courtesy-Chamber of Mines of the Philippines JANUARY 1941 FEBRUARY 1941 TOTAL PRODUCTION CAPITAL DIVIDEND MINES Tonnage Value Average Tonnage Value Average 1941 1940 Authorized Paid Up; 1941 1940 Antamok Goldfields 20,309 P 204,687.06 P10.08 17,953.3 P 198,060.11 11.03 P 402,747.17 P 877,021.51 P3.000,000 P2.750,000 -.01 Antipolo 641 41,709.93 65.07 739 30,042.06 96.09 71,751.99 - - Baguio Gold 12,130 199,459.68 16.44 11,75 182,55661.64 833.95 382,011.32 831,055.20 2,000,000 1,299,00.01.03 Balatoc 65,889 1,144,741.40 17.37 59,865 1,134,109.74 38.07 2,278,861.14 2,168,888.80 6,000,000 6,000,000.20.70 Batong.Buhay 3,003 131,272.81 43.72 3,352.8 118,310.39 74.44 249,583.20 - - Benguet Consolidated 40,290 913,949.68 22.68 36,462 789,329.56 46.70 1,703,279.24 1,807,500.14 12,000,000 12,000,000.15.65 Benguet Goldfields 2.568 43,952.00 17.12 2,087.96 27,904.23 34.41 71,856.23 67,366.70 200,000 200,000 - - Big Wedge 6,745 191,068.02 28.33 5,230 180,071.84 70.96 371,139.86 317,619.32 2,000,000 777.612.10.01.04 Cal Horr 7,343 116,726.34 15.90 7,645 128,590.54 32.02 244,816.88 178,290.44 WHOLLY OWNED BY B.C.M. CO. Capsay 5,421 69,906.74 11.05 $,246 53,614.96 21.63 113,621.70 258,160.60 1.000,000 1,000,000 - - Crown Mines 370 4,532.00 12.25 147.29 2,086.51 38.07 5,618.51 41,202,36 1,000.000 636,000 - - Davao Gold 4,063 61,403.12 15.12 3,668 56,671.16 34.64 127,074.28 -- -- Demonstration 4,512 53,424.00 11.84 4,369.75 73,018.98 28.93 126,442.98 115,353.94 1,000,000 1,000,000 - - East Mindanao 4,281 71,354.00 16.43 4,272 73,541.59 34.15 144,895.55 1.000,000 920.000 - - Gold Creek 643 10,247.76 15.93 402 5,814.46 39.95 16,062.22 21,897.16 1,000,000 700,000 - - Ipo Gold 5,281 39,945.71 7.56 5,529 41,736.84 17.77 81,682.55 178,072.54 1,000,000 819,693.70 - - Itogon 27,176 454,195.16 16.71 25,803 447,045.42 34.92 901,240.58 836,153.92 2,500,000 2,500,000.01.04 I. X. L. 13,865 249,362.80 17.98 11,487 248,384.18 43.33 497,746.98 541,254.40 1,600,000 1,500,000.02.08 Macawiwill.....1,600,000 324,93b.06 - - Mapaso - 1,500,000 429,200 - Masbate Consolidated 109,756 564,377.70 5.14 97,387 569,063.02 11.63 1,133,440.72 1,029,175.42 5,000,000 5,000,000 -.02 Mayon Mining 1,739 37,673.07 21.66 1,404 23,628.88 43.66 61,301.95 -__ - Mindanao Mother Lode 6,959 219.508.86 31.55 6,304 210,076.00 68.14 429,584.36 310,118.72 2,000.000 1,130,000.01.01 Mineral Resources 3,465 49,176.58 14.19 3,034 57,389.22 35.12 106,565.75 42,869.62 2,000,000 1,160,149 - - North Camarines 3,750 78,382.01 20.90 3,372 74,276.51 45.27 152,658.52 379,052.01 1,000,000 1,000,000 - - Northern Mining 2,502 67,930.46 23.15 2,307 56,484.77 49.16 113,415.23 94,298.00 - - Paracale Gumaus 7,079 198,882.42 28.09 6,395 143,679.00 100.90 342,561.42 241,115.52 500,000 500,000.025.045 Paracale National 901 19,810.03 22.00 1,065 19,086.13 36.52 38,896.16 46,304.52 1,000,000 848,600 - - San Mauricio 17,159 440,369.48 25.66 16,109 442,195.86 54.78 882,565.78 1,074,150.32 2,000,000 2,000,000 -.07 Santa Rosa 4,155 72,823.44 17.36 5,149 104,308.89 84.81 177,132.33 129,776.60 1,500,000 1,500,000 - - Surigao Consolidated 11,078 211,426.00 19.09 10,577 236,195.00 42.31 447,621.00 806,191.08 1,200000 1,022.976.01.04 Suyoc Consolidated 7,698 187,076.57 24.30 7,007 163,372.08 7.01 860,454.65 816,832.65 1,250,000 1,250,000.005 Treasure Island 7,590 218,994.22 28.85 7,245 208,655.76 59.02 427,649.98 159,983.50 - ------ United Paracale 11,078 288,379.31 26.03 11,065 292,621.24 52.56 581,000.55 508,743.21 1.300,000 1,300,000.01.02 PLACER Coco Grove 343,310 116,975.71 0.34 325,165 113,584.03 00.07 230,559.74 215,560.28 1,500,000 1,500,00.005.016 Mindanao Mining 76,000 57,070.42 0.75 73,035 52,010.10 1.49 109,080.52 - - North Mindanao 31,000 15,30,3.20 0.49 14,480 13,135.18 1.96 28,438.38 29,725.46 -- - - Tam.bis 25,763 13,536.60 0.52 31,703 23,263.00 1.16 36.799.60 - - -. - pan-o.BASE METAL Lepanto 12,400 277,750.08 22.40 11,950 261,807.00 45.07 588,557.08 898,904.14 1,750.000 1,050,000 -.085 Rlxbar 4,590.6 153,404.06 83.41 3,287.4 115,088.95 82.65 268,493.01 84,845.81 -.01.04 Consolidated Mines 1,147.89 29,466.34 25.59 17,300 207,600.00 18.93 327,600.00 Mandaon Operation 10.000 120.000.00 12.00 6,073 15,840.40 7.87 44,808.74 The American Chamber of Commerce Journal April, 1941 23

~IAH0 wm \. Oe ake I \ A' \ WIVe1 '4 \ ^01; \e lrpll \ rigtb ti #11e "W.V.~~~lih~ Reab I DM 4 IV lw1~ Newspapers -EL DEBATE; the only morning daily in Spanish. — MABUHAY, the only morning daily in Tagalog. — THE PHILIPPINES HERALD, only afternoon ddaily in English. -MONDAY MAIL, tabloid news weekly in English (every Monday morning). For thorough coverage of the entire archipelago advertise in the D.M-H-M Newspapers iIjtl Published by l THE PEOPLES PRESS f I$ JLCarlos P. Romulo President P. 061 Muralla, W. C., Manila i P. 0. Box 901 Tel. [phone] = = e= = = = =- = 1t 24 The American Chamber of Commerce Journal April, 1941 (

LocsJ and United States: r't.00 per 7era Foreign Subscription,:3.00 U. S. Currency, per Subscription Single Copies: 3 5 centavos WALTER ROBB Editor end Manager Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things A recent Manila business change is the retirement of Manager F. H. "Fred" Noble of the Socony-Vacuum Philippine agency and the upping of L. L. Rocke to succeed him. Fred Noble has spent 32 years in the Philippines and rounded out a full-term career of 30 years with his company. A sketch of his life was recently published in this magazine. Manager Rocke is also well known in the Philippines, where, before going to the company's Hongkong office, he was the manager for the company at Iloilo. The Nobles left Manila at the end of March with plans to make their home in New York. Manager Rocke takes charge in the Philippines at an interesting juncture of events. * * * An antiquarian friend of ours browses weekly in the Augustinian library where he often comes on delightful books, some dating early in the era of printing and the Renaissance. Translations from the Greeks abound; much of this quaint printing was done at Venice, more at Leyden. The drawback usually is the bad condition of the books, of which relatively poor care has always been taken; on shelves without glass or backs, in a room not often thoroughly cleaned, the books have been invaded by worms and termites. Exception, Aristophanes's comedies, the volume as clean today as it was when it came from the printer's. On the card where he makes note of this our friend wrote, too sharp for the wzorms! * * * John T. Flynn forecasts a most puzzling situation that will confront Americans when World War II is over with, and won for democracy. He writes this time in the February American Mercury. How much democracy will really be left, after this Armageddon, is, no doubt, problematical even in the United States. It seems to us that the situation will bear with peculiar emphasis on men past their prime; to preserve sanity, they may seek escapes. It may turn out that the Philippines will attract attention, as a quiet rural place where peace resides. Some time ago we invited attention to the fact that there are more than 7,000 coastal islands here, some large enough for one spacious home, some large enough for several. These are all potential tropical retreats, in a country where taxes may still be comparatively low. They might be taken into account by men whose warfrayed nerves demand conditions of physical contentment. Each is a natural paradise. On the morning of March 11 there were no clouds for the sunrise, so it had to get along the best it could with what it had. For the most part, this was just a lot of vermilion, which Webster says is a "fine red color often used in coloring sealing wax." This particular morning ijt was being used to color the deeper eastern quadrant of the Philippine sky; but like some of the vivid coloring that goes into such gypSy WARNER, BARNES & COMPANY, LONDON-MANILA-ILOILO-CEBU-BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGE R S OF LTD. COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY INSURANCE DEPARTMENT Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT Sugar Machinery, Diesel Engines and Mining Machinery Agents for: Hongkong & Whampoa Dock Co., Ltd., Hongkong. MINING DEPARTMENT General Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines, Inc. I X L Mining Company Masbate Consolidated Mining Company North Camarines Gold Mining Company Paraeale Gold Mining Company Paraeale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUILDING, Plaza Cerantes. SHIPPING DEPARTMENT Agents for: Nippon Tusen Kaisya Cunard White Star, Ltd. Bibby Line Special Repre.entatives of BRITISH OVERSEAS AIRWAYS CORPORATION AGRICULTURAL DEPARTMENT All Classes of Fertilizers IMPORT DEPARTMENT Sperry Flour S.gar Bags I Sperry Flour Sugar Bal - -~~ ---- - --- The American Chamber of. Commerce Jo4rnal April, 1941 25

i GET RID OF NOISE i gowns as you like to see Carmen Miranda dance in, higher and wider in the sky it paled to cerise and gold deftly mingled, and fringed out overhead in gold and lavender. It was all very nice, very nice indeed, and it made us think once more of the supernal natural beauty of this country that we all learn to take quite too much for granted. Not that it will not always be here, but that folk often imagine they can pull up stakes and move away and not even miss it. Always too late, they find they've been mistaken. The beachcomber is not the only victim of the tropics. Save in Hollywood's purview-the same ineffable enchantment wins us all, and we soon die of a sort of spiritual biliousness when we try to escape to other less lovely lands. Alabama's legislature meets every 4 years in a session limited to 50 days. In 19 other states the legislatures meet every 2 years in sessions limited to 60 days. Kansas has the Alabama limit of 50 days, but assembles her legislature every 2 years. Biennial legislative sessions in Oregon, South Carolina and Wyoming are limited to 40 days. Georgia's legislature meets 70 days every second year, Tennessee's meets 75 days every second year. Maryland's and Minnesota's legislatures meet 90 days every second year. Iowa's legislature meets 100 days every second year, and New York's 110 days each year. Texas's legislature meets 150 days every second year, and Connecticut's meets 132 days every second year. Without term limits, but meeting only every second year, are the legislatures of California, Colorado, Illinois, Maine, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, North Carolina, Ohio, Pennsylvania, Vermont, and Wisconsin. The legislatures of Massachusetts and New Jersey meet yearly without limitation of term, but in Massachusetts the upper branch has continuous duties. State legislators in the United States are usually paid either moderate perdiems or insignificant salaries designed to cover legislators' actual expenses incident to their occasional duties at the capital. * * * As dead as the dodo. Until Alan Devoe referred differently to it in his paper on the passenger pigeon in the February American Mercury we had taken the dodo to be a mythical bird. We then looked up this subject of one of the commonest comparisons in the language, to find that dodos were plentiful on Mauritius when the Portuguese discovered that island in 1507, that indeed the Por. tuguese named the island originally for the bird from its resemblance to the swan, though it was not aquatic. Vulgarly, the Portuguese called the bird a dodo, i. e., a simpleton: it didn't swim, it was larger than a turkey in size and flew but poorly, its flesh was so tough that it cooked but poorly, and it was so communal of habit that sailors armed with bar. rel staves made sport of going ashore and knocking dead whole flocks. Dutch sailors followed suit, when the island fell to Holland; in less than 200 years the dodo was a literary legend authentically pre. served in a few sketches and paint. ings only, one or two of which the Britannica reproduces. Exit of the passenger pigeon native to Amer. ica left no cliche in the language but was far more lamentable because this prolific dove's meat was as toothsome as it had been, in colonial days, plentiful. By the time of Cleveland's first election, hunters supplying city markets (200 barrels a day for New York alone) had the best of the passenger pigeon, and the last known specimen, in the Cincinnati zoo, died 26 years ago. It took such crushing losses as this to bring into force the laws that are now restoring American bird life, where species had not been plundered to death; and also to restore fast-dying-out animals such as deer, elk, and bison. Border bootleggers, we used to think, would soon finish off quail and prairie chicken, but common sense intervened in time to save them both, even in Oklahoma. Law also intervened to protect fish and crustaceans. Could it be hoped that some day folk in the Philippines will report men who dynamite fish to the authorities, instead of shielding these criminals with silence about their crimes?-and that some day too, the law against use of dragnets in Manila bay will actually be enforced, because the people realize that these nets destroy the fry spawned and fertilized in the ooze of the bay's bed? No, we think not; it will be a generation at least before the public sense of civic duty is such as to bring these palpable abuses to end. * * * When you visit the new Bureau of the Census and Statistics, the variety of its activities surprises you. It has been organized under the technical supervision of Ray Hurley and is an outcome of Census of 1938 for which he came to Manila. In AMaY he goes back to the census bureau in Washington, where he is chief of the Don't let NOISE make you nervous and fretful-prevent you from putting real effort into your work-prevent you from enjoying a good night's sleep. Shut out noise of trams and trucks, bells and busesTests prove that we tire much faster in noisy rooms. The REMINGTON AIR CONDITIONER permits you to exclude noise by keeping your windows closed even on the hottest day. The REMINGTON AIR CONDITIONER cools Bohr bedroom or office by pouring in a stream of cool dehumidified air, silently and without draughts. Positive ventilation with filtered air brought in from the outside. Specially sound proofed, noise cannot travel through the Unit. See or Call us NOW. Our representative will explain full details without obligation on your part. ELMAC, INC. 627 Rizal Ave. Manila Tel. 2-35-31 -—;- r ---; —- - 26 The Ameriean Chamber of Commerce Journo April, 19^

division handling territorial, insular, and foreign statistics. No more important work has been done for the Commonwealth than the 1938 census and the organization of this bureau where the work is kept up to date. The premises the bureau occupies are the warehouse adjacent to the Intendencia building on the south bank of the river at the Magellan monument. Offices are on the ground floor and 2 quadrangular balconies, above the second of which records are stored. No other bureau is so modestly housed, yet the place is conveniently reached from all directions. Mr. Hurley's successor will have a high mark of efficiency at which to aim. As to time put in, he can forget such things as clocks. Casual interest is all in the doings on the ground floor, because the first desks you encounter there are the ones where marriage licenses are issued. Every group of customers here includes some blushing young face, the owner obviously embarrassed by the intimacy of her errand; for there are no partitions in the place, not even screens. Partitions and screens in a warehouse would make it unbearably hot. The bureau has taken over the civil register. Marriage certificates, birth certificates, death certificates, all are now issued there, where also Manila's occasional divorces are recorded. Ministers of the gospel who may legally solemnize marriages also register there. Some of this work used to fall to the National Library, some to the Bureau of Health. No divorce clerk will be overworked, adultery with proof delicto en flagrante being the only legal cause for dissolution of marriage in the Philippines; but if the culprit is the man, even adultery is only concubinage in the eyes of the law unless accompanied by scandalous circumstances. Statistics on agricul'ture, labor, and finance all center in the bureau, where formerly they pertained to 3 different cabinet departments. These include the periodical statistics on imports and exports from the customs bureau. Business statistics, including retail and wholesale prices current, have come over from the Bureau of Commerce. It's a real centralization obviating duplications and planned for timeliness and accuracy. There is an association in America for everything, so there is the American Gum Importers Association interested in gums, resins, and waxes of all natural sorts. Such raw materials make into lacquers, varnishes, and the finer glossy paints. There are synthetics from mineral sources, but the natural supply is 4 times the artificial and, annually restored in the forests, is unlikely to yield the field. Varnish and lacquer making is now so old that trade secrets once closely guarded by guilds and crafts, later by factories, are open books, and patents that helped hedge in the industry for a century have expired. Besides, according to a recent paper by Dr. A. P. West, research chemist at the Bureau of Science, new uses for natural resins-one being for plastics-turn up all the time. Best of the natural resins is copal, prized in the varnish trade. Congo copal derives from the Congo region in Africa and of course is superintended by a typical Belgian cartel: the copal committee of the Association of Belgian Colonial Interests. No doubt this is commercial Latin for some organized hold-up of American industry on the one hand, and on the other hand, control of the native producer's ideas of the worth of his labor. The other general classification is Manila copal, from the Netherlands East Indies, the Malay States, and the Philippines. When the bark of a certain large tree, Agathis alba, is deeply bruised or cut, the natural resin exuding from the wound is the copal of commerce. The heaviest Philippine stands of this tree are in Palawan. Primitive peoples and licensees of the forestry bureau gather copal, of which about P200,000 worth a year is exported. Great masses weighing many kilograms often collec~t on a single tree, the trees being so gigantic that some are 60 meters high and 2 meters in diameter. Much copal as it comes from the mountains is rejected by exporters, each of whom has rules of his own, and only that portion that is soluble in alcohol is bought. Insoluble co pal may consist of gelatinous copal contaminated with dirt, leaves and twigs. Buyers reject copal that has much insoluble matter in it because such material makes processing difficult. Dr. West (and his assistant, S. S. Tanchico) have worked on this problem and evolved methods of refining the whole bulk of natural co27 GENERAL ELECTRIC COLD DRINKIN6G WATER FOR AS LOW AS 10 A DAY The water cooler that business and industry buys in preference to any other make is G. E. Imagine cold drinking water all day for fifty people at an average current cost of 10 centavos.* G. E. maintenance cost is low too. Its solid, stainless steel water reservoir guards against rust, leaks, corrosion, contamination... and that implies repairman won't see it for years to come. All models have foot pedal control. Many new models include sealed unit with special five year protection plan. Take your choice of the cup or bubler types for bottle or city water. Visit your local G. E'. dealer or write to General Electric Co. (P. I.), Inc., Port Area, Manila. * Figures apply to Manila. DEALERS: Visayan Electrical Supply Co., Inc., Cebu; Panay Electric Company, Inc., Iloilo; Trinidad Garage Transportation, Inc., Baguio; Mr. Alfredo Benito, Legaspi, Albay. THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching Suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign P6 t~~~~~~~ Tho American Chamber of;Cemmero Journal 1941

I 11 I Here's how to get Manilas! j pal to a standard commercial purity even above the standard determined by the alcohol test. From information available, it seems that operation of a copal refinery by the West method would multiply the Philippine copal supply about 5 times, and we are told that a pilot plant will be set up by the government to exhibit the method and induce the establishment of a commercial refinery. Papers on the subject, available also as separata, have been published by the Philippine Journal of Science: Vol. 73, No. 3, November 1940. The world supply of natural resins is about 700,000 tons a year, of which the Philippine supply is a small portion only. The name manila came,to be applied to copal from the Far Elast because the shipping of it used to be by way of Manila, back in the galleon days. Philippine major sources of copal, whose other name is almaciga, are, besides Palawan, Tayabas and Camarines Norte. The Situation "Down Under" Continued from page 7 in the southwestern Pacific, it can count on obtaining whatever co-operation it desires in the way of use of bases, harbor facilities, etc., from both Australia and New Zealand. Meanwhile Australia in particular has been most eager to do nothing to provoke Japan into warlike action. Until recently there was a marked tendency in some quarters to pursue a policy of appeasement towards Japan even though appeasement failed disastrously in the empire's relations with Germany and Italy. Japan was formerly an excellent customer for Australian wool and other exports. Thus, besides the natural desire not to precipitate a war in the southwestern Pacific, there was a desire to keep on good terms with a valued customer. Scrap iron was sold to Japan as late as November and in September, 1940, 20,000,000 bushels of Australian wheat were sold to Japan on 18 months' credit. Such sales no longer are being made. Neither the Australian government nor many Australian citizens ever seem to have considered that aid to China constitutes a deterrent to Japanese aggression in other quarters. I found little interest in keeping Ja pan preoccupied in China by aid such as that being given by the United States. It was frankly admitted that Australia wished to do nothing to provoke Japan. In the hope of appeasing Japan the Australian government last Spring urged Great Britain to close the Bur ma Road and thereby shut off sup. plies to China. The New Zealand gov. ernment, however, was strongly op. posed to the closing of the Burma Road, and so indicated to the British foreign office. It is now generally recognized in Australia and New Zealand that the closing of the Burma Road was a mis. take. Today there is much less ap. peasement sentiment as regards Japan and none in the cases of Germany and Italy. Influential newspapers editorially rebuked two members of the cabinet who went out of their way to say reassuring things to Japan and there is a general realization that Japan is the ally of powers seeking the destruction of the empire and may at any moment actively engage in the war. To that end both Australia and New Zealand are strengthening their defenses as rapidly as possible and are contributing materially to the defenses of Singapore, the Dutch East Indies and other areas of the southwestern Pacific. To the sanie end they are keeping in close touch with the United States. Translation from Dr. Palma Continued from page 13 After the ceremony everyone repairs to the bride's home for the festival. An infinity of practices concerning weddings is vestigially preserved from ancient customs completely divergent one from another in the different islands, and even between different towns of the same province. Once the party reaches the bride's home from the church, bride and groom drink honey dissolved in water, an innocent solution THE HON. THE PHILIPPINE RESIDENT COMMISSIONER Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. i MANILA S made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Products, "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". This pose idealizes the maiden modesty among yesterday's Philippine girls, described by Dr. Palma. proffered by the bride's parents as a sylV' bol that the union will be sweet and happy for both. In certain rural regions no L 28 The Avmerican Chamber of Commerce Journal April, 1941l

one is later permitted to sit in the chairs occupied during the wedding festival by the bride and groom; the chairs are taken a\way and locked up somewhere away from the house, with the purpose to preserve the union from every extraneous, and perhaps ill, influence. Sometimes a contribution for the newlyweds is arranged during the wedding festival. The bride's mother proclaims a dance, and offers everyone a cup of wine, commencing with the best man and matron of honor-the indispensable sponsors. On drinking, guests toss such coins as they will part with on a tray prepared to receive them; the money thus got together is given the couple to facilitate their conjugal happiness. Ancient Filipino superstitions concerning gestation and confinement were never uprooted during the Spanish period, among the more ignorant. Belief in the asuang and other mystic creatures persisted in many communities until very recent years. Every difficult confinement was attributed to the malignancy of the asuang, more surely so if the child came not alive. The cutting of the cord was undertaken with mystic precautions, the future bad health of the child being attributed to a bungling job with the cord or a stubborn healing of the wound. The placenta was carefully taken up in a coconut urn and interred a minimum number of feet in the earth; for if carelessly disposed of or perhaps eaten by animals, in the first instance the child might grow up a wanderer and leave the parish to seek a home elsewhere, and in the second instance he would be beset all his life by ill luck. The expectant mother could never stand in an open doorway, or mend a dress while wearing it, or tie a kerchief round her throat, nor sleep at an angle to the bamboos of the floor, and disregard of any of these precautions could provoke premature and laborious confinement. Caprices of the expectant mother had to be humored, otherwise the child would be deformed. Fruits she ate could not be shared with other persons, because that would cause somnolence. Unless she welcomed twins, she could not eat twin bananas or take food from a dish in which there were two spoons. If she yielded to any inordinate affection, or was shocked by sight of a crippled animal, the child would resemble the person so warmly regarded, or be deformed like the maimed beast. The Spaniards introduced the institution of medicos practicantes whose technical knowledge was comparable to that of a hospital steward, and midwives to attend confinements, but they had so little knowledge of aseptic or antiseptic procedure that mortality almost erased the births among Filipinos. After the advent of Catholicism, the manner of giving Filipinos names changed in accordance with practices of the Church, and children born to Christian parents were baptized at the altar. For patronymics, the priest had recourse to the names of the more popular or illustrious saints, and of great Spanish personages, as also to those of native figures of local renown for character and virtue, the priests not being very exiguous at first respecting changes in ancient customs. Writing of this in 1738, Father Juan F. de San Antonio said he knew a man called Pio V, another called Philip V, and various others called The Fearless, The Resplendent, The Terrible. Such confusion reigned respecting the possession of illustrious names, that Governor Narciso Claveria decreed in 1849 that catalogues of patronymics should be arranged for the parishes, out of which each family could choose the name they wished, or one would be chosen for them. Exceptions were made of families already having hereditary names originally Spanish, Filipino, or Chinese, if they were disposed to hand them down formally to their descendents. Other exceptions were made of families bearing names of Filipinos who had rendered Spain distinguished services, as Lakandula, Tupas, Rajah Matanda; for others to adopt these names was prohibited, only those could retain them who had just title to their possession. A consequence of this decree bestowing surnames on Filipinos was that what had been too little became far too much. The custom grew of adopting various worthy names, and in the baptismal record were added to those of the family on both sides, the names of the baby's godfather and godmother, and the child that had been given ADVERTISING PESO YOU CAN REACH OVER 495000000 PASSENGERS MONTHLY By Advertisinq Inside MERALCO Street Cars and Buses. -AT THE LOWEST RATE PER 1000 READERS OBTAINABLE THRU ANY ADVERTISIN6 MEDIUM IN THE PHILIPPINES. -COVERING THE CITY OF MANILA. AS WELL AS THE TOWNS OF PASAY,SANJUAN,PASIG, CALOOCAN AND MALABON- THE AREA WITH THE HIIHEST PER CAPITA BUYING POWER IN THE PHILIPPINES. MANILA 134 San Marcelino Tel. 2.19.11 Tel. 2.19-111 The. American Chamber of Commera Journal April, 1941 29

three names wound up with perhaps six. An example of this may be cited in the name of the eminent author of The Ancient Civilization of the Philippines (La Antigua Civilizacion Filipina), who usually used all the names in his family, as follows: Pedro Alejandro Molo Agustin Paterno y Mir y de Vera Ignacio. Many aristocratic Filipino families came to adopt the custom of taking their meals in the European manner, from tables and seated on chairs, but the masses continued use of the typical low table round which they crouched, where they made common use of a limited stock of cutlery. A wider variety of food came in with the Spaniards; fruits and vegetables from China were abundantly imported, and comestibles from Spain. Early among the Spanish importations were capers, oil, olives, almonds, all sorts of conserves, wheat flour, cured hams, vinegar and wines. The masses among Filipinos generally have three meals a day, breakfast, lunch, and supper. They eat dried fish, stewed vegetables from many varieties taken from their gardens, and rice. This has not changed since ancient times. Their ordinary dessert is scraped coconut sprinkled with cane sugar. The middle class add afternoon tea to their three meals, and the wealthy class, copying from the Spaniards, eat as often as five times a day, having their second breakfast around ten o'clock of the forenoon and tea between lunch and supper. Filipinos have learned from the Spaniards to serve a variety of courses during a meal, especially when there are visitors or during festivals, when the menu is well nigh interminable and every osten. tation attends the hospitality of the table. Filipinos use much oil and lard in cooking, for which reason their dishes are not, commonly appetizing to foreigners. Filipinos mark funerals with pomp and solemnity, as they do weddings, and funer. als are frequently occasions for feasting and reunion of mortuary character at one with ancient custom; all the Spaniard could Ido was to add the rites of the Church and change the place of burial from the people's homes to the cemetery, which in the earlier Spanish period was at the Church but later at the outskirts of the parishes. The cemeteries were commonly walled with stone, with three to four tiers of crypts. A chapel, for final prayers, ordinarily graced the center cf this enclosure. Each crypt accommodated a coffin, usually, the corresponding fee having been paid, left undisturbed for five years, when exhumation took place and the remains were encased in a more compact receptacle and interred permanently in some sacred precinct, commonly the Church or the village chapel. Fees for the crypts corresponded to the time they were used, and the poor who could not afford the charge buried their dead in the earth of the graveyard and, with no exhumation, were content. It was de rigeur that the dead be carried to the church for the services of the priest, that the deceased might have his blessing. This was for the rich and the poor alike, though naturally, the solemnity varied according to the fees paid. For prominent families three priests with cross, candles and cerements conveyed the bier from the mortuary to the church at the head of a mournful procession, stopping at various stations en route, and at the altar, to chant a Latin service of exequial psalms. In distinction from the Spaniards, men and women both made up all funeral processions regardless of whether the deceased was man or woman. Members of the bereaved family usually participated in this rite, and it was an excruciating experience to behold the unrestrained sorrow and desperation that afflicted them; at the moment of interment they would frequently fall unconscious, into the arms of commiserative friends. Funeral feasts celebrated in the home of the deceased must have been a survival of ancient customs; they lasted nine days, similarly to religious feasts in honor of a patron or saint. Relatives and friends joined together in prayers for the deceased, afterward enjoying a supper more or less sumptuous according to the family's means. In order to add to the amenities of these reunions, poetic jousts were often impr)vised-to exhibit the genius for spontaneous composition of all who cared to compete. The art of embalming that Pigafetta re A GOOD IDEA-DO IT RIGHT AWAY! PEOPLES BANK AND TRUST COMPANY 605 DASMARISAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac. _ _ 30 The American Chambei of Commnerce Journal April, 1941 (

larl;s in his work, came to be altogether forgotten, partly by disuse and partly perhaps from the fact that few persons knew its secrets, those who had inherited it havinlg died. The idea had been introduced that it was irreverent to tamper with the dead, and embalming was therefore proscribed. The practice of conveying the departed to the church for the last rites was occasion for a protest by Filipinos in 1888. Filipino parents treat their children with much affection and care, and it might even be said that they spoil them during their infancy and early childhood. Yet the children kiss the hands of their parents on leaving them, or coming home again, and after the family prayers of the evening, to manifest their love and respect. This practice continues after the children are grown and have reached their majority, and even after marriage. The custom of family prayers was introduced by the Spaniards; at sunset the prayer is the Ave Maria, and after supper, the Rosary. It is generally the mother who leads the Rosary, or in her place, the eldest son or the eldest daughter. Should an earthquake occur, or a similar natural calamity, the common prayer is the Trisagion. In the Filipino family the men always sleep separately from the women; when the home may consist of but a single small room, a curtain effects the customary isolation. Various authors have advantaged themselves of the fact that in most houses, in rural communities especially, comprise only one room, and have deduced from this that men and women sleep together promiscuously, and thus they attempt to establish an abasing morality among Filipinos. The truth is, however, that no such promiscuity prevails. Smaller children sleep beside their mothers on a single mat, or in instances, beside an aunt or a woman among the servants. Filipinos of the poor masses use sleeping mats in lieu of beds, to accommodate all members of the family by the rule of conduct just explained. Ailments were treated by herbalists among Filipinos in Spanish times, where there was no doctor nor sanitary officer. These herbalists had empirical knowledge" of the medicinal merits of some plants and minerals, and at times effected cures. Old superstitions concerning treatment of the sick prevailed in some distant communities; it was then believed that all sickness was the work of some malign spirit, and such spirits were exorcised by the smoke of the holy palm and other devices suggesting utter ignorance of materia medica. If the ailment was a local inflammation, suspicion fell on the ubiquitous Mangkukulam, and the cure was to beat the patient until he fell from suffering and exhaustion, the idea being that the Mangkukulam, and not the patient, received the blows and being only one room, and have deduced from this unable to resist them, perforce violently abandoned the patient's body, causing him to fall, but leaving him cured. Filipinos have conserved many of their ancient courtesies, one being to drop the vision in the presence of their patrons or employers. Quids of betel, or cigarettes, are proffered visitors. The ancient hospitality, open and disinterested, and freely extended even to strangers, did not diminish in the least under Spain. Above all, Filipinos felt much honored by a visit from a priest or a Spanish official, lavishing on them every attention and offering from the very heart all they had in the home. Offer of payment for hospitality was tantamount to personal offense. Treatment of servants became gracious and benevolent, from being despotic. Many servants remained all their lives with their masters with fidelity that withstood every test. In numerous cases, respected servants married into the master's family, and no humiliation attached to such unions. Native practices regarding inheritance and adoption continued unchanged from ancient times until the Spaniards introduced on these subjects, their own laws. Further translations from Palma will appear in later issues ths year of the JOURNAL. An installment of his PHILIPPINE ECONOMIC PROGRESS will be in the May issue.-ED. JL -- - - --- - - Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY The American Chamber of Commerce Journra Aprl 1941 31

Sugar Market Report (February 16th to March 15th, 1941) By Warner, Barnes & Co., Ltd. The New York sugar market rose steadily but quietly throughout the second half of February, when prices of actuals advanced from 3.00~ up to 3.15~. This steady rise was due to the increasing demand for raw sugar by refiners, met by a firm tone on the part of holders, who sold gradually on the scale up. Moderate quantities changed hands throughout the period. During the last week of February, Eastern refiners announced several advances in their refined sugar quotations, and prices went up fifteen points to 4.60~. At the beginning of March, a quieter tone was apparent, as a reaction after the recent advances; however, the market remained steady, and sellers held for still higher prices. After a short dull period, buyers became anxious to secure raws, and prices rose rapidly to close at 3.30~ by the middle of the month. The rapidity of the rise led to fears of possible Government intervention and quota increases, but these were partly countered by a statement from Senator Ellender that it had been generally agreed sugar prices between 3.35~ and 3.604 would not be considered unreasonable. Further advances also took place in the quotation for refined sugar, which increased generally to 4.75~ and 4.85~, the demand Continuing good at the rising levels. This represents a rise of forty points in refined L: -- I I I =1 sugar quotations during the four-week pS riod; however, Senator Ellender had fur. ther stated that he favoured stabilization of the refined sugar price at 5.25~/5.304. Quotations on the Exchange fluctuated as follows during the period: Low High Lotest March......... 2.05~ 2.32~ 2.32e May.......... 2.100 2.35~ 2.35c July.......... 2.15~ 2.390 2.38~ September...... 2.19~ 2.420 2.42c January 1942... 2.200 2.40~ 2.40c March 1942..... - 2.43~ 2.43 Reported sales of Philippine sugar during the period amounted to 80,600 long tons at prices ranging from 3.00~ to 3.30a, and resales to 37,000 tons at 3.004 and 3.30~. Local sellers were unable to take advantage of the fifteen-point rise during the second half of February, as a result of space scarcity. During the first week of March, exporters were in the market for limited quantities at P4.50 per picul, but holders generally were not willing to sell at these levels. Exporters were not keen buyers, owing to their uncertainty regarding the rate at which shipping space could be booked when and if it became available; there had been many rumours circulating, none of them confirmed, of very considerably higher rates paid, as much as $30.00 per ton having been mentioned. The Conference minimum freight rate was advanced during the period by a total of $3.00 to $22.00 per ton. One exporter continued to pick up moderate quantities of sugar at P4.50 per picul, supposedly for prompt shipment by Japanese vessels, but the majority were reluctant buyers and their quotations were more or less nominal, although slightly higher prices were quoted in sympathy with the continued rise in New York. The market for local consumption sugar continued dull and nominally unchanged at about P4.65 during February, but by the middle of March, a sharp decline had taken place in the face of heavy offerings from the provinces, and quotations at the close of this period were around P4.00 per picul, with the market depressed and but little business doing. Planters' pressure to sell their domestic production was caused by their need for cash, which they have been unable to obtain by selling their export sugar, since the market for this commodity has been so limited as to be almost nonexistent. It is also generally considered that supplies of local consumption sugar are more than adequate for the demand. Exports to the United States during the month of February were fairly heavy con'pared with January shipments, and amounted to 76,973 tons centrifugals and 4,608 tons refined. Total shipments from November 1st, 1940 to February 28th, 1941 were as follows: Centrifugals...... 288,216 tons Refined........... 11,871 " Total.... 300,087 tons. The American Chamber of Commerce Jorval April. 1941 It INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents 1. i. ILSE, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 - I 32 (

Real Estate By P. D. Carman Boulevard Heights The best February since 1930 and greater than February 1940 by P642,778. The figure for last month includes five transfers of o v e r P100,000 each in Santa Cruz, Malate, Paco and Santa Mesa (2) w h i c h materially raised the total. S t r o n g - material construction in the City of Manila cost P861,730 in January and P440,730 in February compared with P1,117,380 and P1,096,460 during the same months of last year or a decrease of P911,380! Rice Review (February, 1941) By Dr. V. Buencamino Manager, National Rice & Corn Corp. RICE Under pressure of heavy offerings, prices persisted to sag, culminating in a sharp break about the middle of the month as a result of panicky unloading o in the face of worsening political situation in the Far East. Buyers and sellers preferred cash to stock, the former purchasing sparingly, the latter virtually dumping their stocks on the sagging market. For the first time in many months, Central Luzon rice undersold Cotabato, some distressed lots changing hands at as low as P5.05 for first class Macan of the new crop and P4.80 for inferior qualities, against P5.25-P5.35 for Cotabato. As the tension in the international outlook eased slightly, offerings were gradually withdrawn; but the market was unable to recoup lost ground, prices closing steady at the lowest level touched,-Macan No. 2 new crop at P5.10, Elonelon No. 1 new crop P5.55, old crop P6.85, compared with P5.35, P5.95, and P6.95 respectively in the beginning of February. Losses ranged from P.10 to P.40 according to quality. Shipments to provinces by water February, 1941................ 36,168 February, 1940................ 117,047 January, 1941................ 36,017 PALAY Palay moved in sympathy with the sharp revision in the price of rice, dropping 20 centavos to P2.25-P2.30 for ordinary varieties in Cabanatuan. The NARIC, however, remained in the market, paying P2.50 for Macan ordinario or its equivalents delivered at Cabanatuan. Tobacco Review Sales City of Manila 1941 (February, 1941) -By Alhambra Cigar & Cigarette Mfg. Co.TOBACCO: The present crop in Cagayan and Isabela still needs rains for favorable development. Shipments abroad were practically limited to the United States and French Indochina. Comparative figures of shipments are: Rawleaf, Stripped Tobacco and Scraps Kilos China............. 59,051 French Indochina.. 102,304 Hong Kong....... 3,916 Java............. 1,701 United States.... 174,755 Sta. Cruz........ Sampaloc......... Tondo............ Binondo.......... San Nicolas...... Ermita........... Malate........... Paco............ Sta. Ana......... Quiapo........... San Miguel...... Intramuros....... Sta. Mesa........ Pandacan........ January P 21,834 317,594 56,247 10,563 61,587 59,750 70,687 192,035 83,523 251,118 18,980 87,000 4,000 13,317 February P 286,034 152,151 54,260 68,800 20,926 28,000 277,469 254,390 113,216 76,639 17,869 269,402 19,317 February 1941 [Continued 341,727 on next page] Arrivals Rail February, 1941.. 107,220 February, 1940.. 121,479 January, 1941.. 88,928 Water 11,096 266 32,084 P1,248,235 P1,638,473 Total 118,316 121,745 121,012 L Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port Area I L OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRIITOBAL, PACO MANILA, P. I. The American Chamber April, 1941 of Cammerae Journal 33

I Southlern Islands Cruises Cebu-DL)ulaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P99 NINETY-NINE PESOS P99 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 January 1941 February 1940 January-February 1941 January-February 1940 468,013 286,157 809,740 439,604 CIGARS: Volume of shipments to the United States continues unsatisfactory. Comparative figures are: February 1941 January 1941 February 1940 January-February 1941 January-February 1940 Cigars 11,290,885 2,037,040 16,947,386 13,327,925 28,938,076 Foreign Exchange Review ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast and Gulf Ports, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K" LINE Express Service to Allantic Ports (Philippines to U. S. Atlantic Ports via Panama) I To summarize interbank dollar rate for ready dollars was almost invariably /,% pr., future deliveries had good buyers at /, i./C and small sellers at 9/16 % pr. Mer. chants' rate for clean T.T. was 5/8 % pr., over the counter rate % 3%/ pr., and retir. ing bill rate 7/s% pr. Banks would buy clean T.T. from mer. chants at %% o pr., sight L/C at %4 % pr., 60-day after sight L/C at par and 60-day D/A bills at 1 C/ discount. The following figures obtained from the Bank Commissioner's fortnightly re. ports show the total of exchange business transacted by banks from the beginning of the year: January 1st to March 8th,.1941 Total spot and future exchange sold......... P72,926,077 Total spot and future exchange bought..... 62,006,509 Net oversold.. P10,919,568 Not included in the above figures are Treasury's sales of D/D to banks which amounted to P13,578,302. January 1st to March 9th, 1940 Total spot and future exchange sold......... P79,361,811 Total spot and future exchange bought....... 59,631,421 Net oversold.. P19,730,390 Not included in the above figures are Treasury's sales of D/D to banks amounting to P21,395,928. (February 16 to March 15) By J. Rapoport The period unfeatured by gradual tightening of the cash position, caused, among other reasons, by fairly large offerings of export bills. This, naturally, tended to weaken prompt dollar-peso rate. The market opened with interbank sales of ready dollars at 1/ % pr., this being a business rate at which either buyers or sellers predominated at times. On several occasions interbank ready dollars were actually sold at 7/16% pr., for the purpose of providing spot cash. While spot dollars definitely reflected an easier undertone, quotations for future deliveries remained firm, buyers bidding 1/2 % pr. for June-September with somewhat reluctant sellers at 9/16% pr. Whatever future contracts were booked, the rate used was invariably 9/16% pr., almost all of theni for August-September delivery. Thus the change-over rate, which in the past carried a penalty for the buyer of ready dollars, turned against the seller of ready dollars. Several four and five month change-overs were bookej during the period under review at a difference of 1/16% in favour of buyers of ready dollaxs. Similar conditions prevailed throughout the first half of March, with the volume of interbank business being very small. It was observed that banks generally were reluctant to disturb their exchange positions, possibly due to the fact that their exchange business with merchants has further receded. 1 COMMONWEALTH OF THE PHILIPPINES Department of Public Works & Communications BUREAU OF POSTS MANILA SWORN STATEMENT (Required by Act. 25&0) The undersigned, Waiter Robb, Editor, Business Manager of the American Chamber of Commerce Journal, published monthly in English in Manila, after having been duly sworn in accordance with law, hereby submits the following statement of ownership, management, circulation, etc., which is reqvired by Act. 2580 as amended by Commonwealth Act. No. 201. Editor, Managing Editor and Business Manager, Walter Robb, P. O. Box 1638, Manila. Owner and Publisher, American Chamber of Commerce of the Philippines, P. 0. Box 1638, Manila. Printer, Carmelo,& Bauermann, Inc. 2057 Azcarraga, Manila. Office of Publication, Room 510, Heacock Bldg., Manila. Owners or Stockholders, American Chamber of Commerce of the Philippines. Bondholders, mortgages, or other security holders of one per cent or more of total value: NONE. WALTER ROBB (Editor, Business Manager) Subscribed and sworn to before me this first day of April, 1941 at Manila, PhilippinesResidence Tax Certificate No. 12506-Manila — January 11, 1941. SANTIAGO MACAPAGAI Notary Public My Commission expires Dec. 31, 1941. Doc. No. 70, Page 81 Book II, Series 1941 Trade & Commerce Bldg. Tels. { 2-15-21 2-15-22 2-15-23 MANILA A 34 The Amerecan Chamber of Commerce Jou?711 April, 1941 (

the Park Commission and as campaign manager for the Community Chest. He is a past president of the San Francisco Chamber of Commerce, and was a member of the board of management for the Golden Gate International Exposition. In addition to his directorship of the American President Lines, Mr. Mailliard 's a director in the following companies: Pacific Mutual Life Insurance Company, Los Angeles; Fireman's Fund Indemnity Company, San Francisco; Home Fire and Marine Insurance Company, San Francisco; the American Trust Company; California Pacific Title & Trust, and the San Francisco Remedial Loan Association. Minette iron ore resources of Lorraines, formerly belonging to France but now controlled by Germany, are estimated by U. S. Consul S. B. Redecker at Frankfurt, to have an assured life of 115 years with an annual production of 60,000,000 tons. It is believed that this ore can compete successfully with the best grade Swedish ores, according to the same authority, because of its proximity to the Saar smelters. b I * p 1 p Dr. Henry F. Grady President, American President Lines 400 #Flow J. W. Mailliard, Jr., prominent San Francisco business man and civic leader, has been elected a member of the board of directors of the American President Lines, succeeding to the place on the board made vacant by the death of the late Senator William Gibbs McAdoo, who had been the steamship company's board chairman. Mr. Mailliard was elected to round out APL's nine-man board at the regular annual stockholders meeting held Monday, March 3, at company headquarters in San Francisco. At the same meeting, the stockholders amended the company's by-laws to abolish the position of chairman of the board, and to vest the powers of this office hereafter with the president. Thus APL's new president, Henry F. Grady, becomes the chief executive officer of this important globegirdling unit of the American Merchant Marine. Director Mailliard, who has a distinguished record for public service and business accomplishment in San Francisco, brings to the board of directors of American President Lines a wealth of experience in interests closely allied to the shipping industry. As head of Mailliard & Schmiedell, APL's new director and his family before him have been engaged in the food importing business in San Francisco for the past fifty years. Despite his heavy business -bligations, Mr. Mailliard managed to find time at different periods to serve his city as a member of the Police Commission, SAN FRANCISCO - LOS ANGELES via Hongkong, Shanghai, Kobe, Yokohama and Honolulu SS. SS. SS. SS. SS. *ss. Pres. Pres. Pres. Pres. Pres. Pres. Coolidge......... Pierce.......... Taft........... Cleveland........ Coolidge........ Taylor.......... April 16 April 26 May 10 May 24 June 11 June 16 *Direct passenger sailing Manila to San Francisco via Hongkong only. NEW YOR1K - BOSTON via Singapore, Penang, Colombo, Bombay, Capetown and Trinidad I SS. Pres. Harrison........ SS. Pres. Hayes (New).... *SS. Pres. Tylers.......... SS. Pres. Garfield (New)... tSS. Pres. Taylor......... *Freight service only. tTo Singapore and Penang only. April 15 May 8 May 9 May 22 May 28 The American Chamber of Cohtmerce Journal Apvil, 1941 35

This department learns with shameful tardiness that Einar Trygve (in Norwegian it means dependable). Westley retired"from his executive position with Pampanga Sugar Mills, Inc. at the end of last year, exactly 21 years from. the time his name went on the payroll. For the past 10 years he had been the technical adviser and general factory superintendent for both Pampanga Sugar Mills, Inc., and Calamba Sugar Estate, whose mill is at Canlubang, on the estate. Calamba and the Spreckles at San Francisco share ownership of Pampanga Sugar Mills, Inc., management of which, in the Philippines, rests in Calamba. Technologist Westley came to the Philippine sugar industry from Hawaii, where he had 12 years' experience. Mr. Westley has an office in the Wilson building as a consultant in sugar technology. He and Mrs. Westley have the F. S. Marquardt residence in the McDonough compound in Parafiaque. Their youngest son, Arne Gordon Westley, graduates from MENZ I & CO., INC. MANILA Cebu Iloilo Davao IMPORTERS EXPORTERS SHIPPING INSURANCE Cable Address "CASAMENZI" l. _. highschool at Brent School, Baguio, this year. His eldest brother, Einar C., lives in Manila and is employed with the well known importers, Muller & Phipps. The second son, Roy M., is with the Coca Cola company at San Francisco. The third, Eric L., is with the Norwegian unit of the RAF of Canada, where he is in training for overseas. Father Westley says categori. cally that there will never be a time when the Philippines do not produce and manu. facture cane sugar for export, adding that there's a lot of slack in the industry to be taken up, some in the manufacturing, and more in the production of the cane. Mourned Alfonso XIII ~~I _ W ]~~~~~~~~~~~~~~~~~~~~~~''2~ '. A Also sold in 10-lb. BAGS UCT Produced by VICTORIAS MILLING COMPANY, INC. operating raw sugar factory and 'refinery at VICTORIAS, OCCIDENTAL NEGROS I I LEaaLsp lcincE 1887.... I~ ~ ~ ~ ~ in LITHOGRAPHY PRINTING PAPER BOXES * BOOKBINDING CALENDARS & NOVELTIES eiARMELO & SAUERMANN, i NC. Gen. Emilio Aguinaldo As he was when commanding the Philippine revolution.... The Spanish community was gratified when General Aguinaldo attended, humbly and without special invitation, the memorial services in Manila for the late Alfonso XIII in whose 'nonage Aguinaldo led the revolt that terminated in Spain's loss of the Philippinds to the United States. The Ameriwa Chamber of Commerce Journl April, 1941 TWENTY FIFTY SEVEN AZCARRAGA * MANILA * PHILIPPINES 36 f

COMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING FEBRUARY, 1941 WITH JANUARY, 1941, AND THEIR AVERAGE FOR THE LAST SEVEN MONTHS COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORT DURING FEBRUARY, 1941 WITH JANUARY, 1941, AND THEIR AVERAG FOR THE LAST SEVEN MONTHS i,...... i. 1,, Groups of exports February, 1941 TOTAL EXPORTS.......... Animals, edible, total............ Meat products, total............. Fish and fish products, total..... Animal products, inedible, total.. Other animals and animal products, total........................... Grains and preparations, total.... Vegetables and preparations total Fruits and preparations, total..... Nuts, total.................... Coconuts, coconut oil, copra, and other coconut products, total... Cacao and coffee, total.......... Sugar and related products, total Beverages, wines, and liquors, total Gums and resins, total.......... Herbs, leaves, and roots, crude, total Oils, other than coconut, total... Rubber and manufactures, total.. Plant dyeing and tanning extracts, total.......................... Seeds, total..................... Tobacco and manufactures, total.. Miscellaneous plant products, total Fibers and manufactures, total.. Cotton, textiles, embroideries, and miscellaneous fiber products, total Logs, timber and lumber, total... Wood, bamboo, reed, and rattan manufactures, total............ Minerals and metals including gold and silver, total............... Medicinal and pharmaceutical preparations, total................ Chemicals, total.................. Explosives, total................. Soap and toilet preparations, total Miscellaneous, total.............. Foreign merchandize (re-exports), total........................... (Pesos) 25,431,915 35,132 42,124 2,885 5,450 7,169 855 3,259,653 8,368,329 22,522 30,767 949 75,753 135 598,724 7,985 2,238,746 723,777 659,761 67,030 8,275,212 11,648 3,843 2,649 68,148 922,669 January, 1941 (Pesos) 24,010,672 1,140 22,630 47,405 150 6,686 1,674 230,388 385 3,951,844 3,165,379 7,377 36,915 9,109 1,625 97,668 9 309,920 3,185 3,114,216 228,504 1,192,930 49,234 10,559,952 2,312 92 19,367 950,576 Average per month July, 1940 to January, 1940 (Pesos) 25,465,454 572 152 38,279 56,056 64 3,949 3,526 293,865 46,534 3,416,367 1 7,016,856 37,137 37,348 5,092 4,106 92,952 6 277 838,381 703 2,709,498 874,198 695,294 54,736 8,313,986 2,117 17,376 29 14,831 70,717 821,449 TOTAL IMPORTS........... Animals, total................... Meat products, total............. Animal oils and fats, edible, total Dairy products, total............ Fish and fish products, total..... Other edible animal products, total Animal products, inedible, total Other inedible animal products, total........................ Grains and preparations, total... Vegetables and vegetable preparations, total.................... Fruits and fruit preparations, total Nuts and nut preparations, total. Vegetable oils and fats, edible, total............................ Cocoa, coffee, tea, total......... Spices, total..................... Sugar, molasses, syrups, total.... Beverages, wines, liquors, total Rubber and manufactures, total Gums, resins, oils, total......... Roots, herbs, barks, etc., total.. Tobacco and manufactures of, total........................ Seeds (Except oil seeds) and nursery stock, total............... Miscellaneous vegetable products, total......................... Manufactures of straw, rushes, and palm leaf, total........... Textiles, fibers, and manufactures of, total....................... Wood and manufactures, total... Cork and manufactures, total.... Paper and manufactures, total... Non-metallic minerals, petroleum, etc., total.................... Metals and manufactures of, total. Chemicals, drugs, dyes and medicines, total.................. Fertilizers and fertilizer materials, total........................... Explosives, fireworks and ammunitions, total.................... Pigments, paints, and varnishes, total.......................... Soap and toilet preparations, total Miscellaneous, total............ Groups of imports February, 1941 (Pesos) 14,024,092 3,920 82,890 1,586 579,202 466,870 2,640 280,344 9,396 890,746 286,960 209,748 8,630 31,654 464,444 4,366 126,536 76,944 263,674 34,630 67,198 682,344 4,222 31,988 5,110 2,977,246 66,642 1,050 915,458 1,568,010 2,692,824 448,890 59,888 18,838 85,926 190,532 396,246 (Pesos) 21,869,470 17,438 158,684 1,400 894,896 812,680 26,606 252,634 14,882 1,296,260 451,482 374,928 10,016 18,078 882,670 4,400 126,876 106,672 528,556 55,490 52,542 1,663,640 6,670 18,332 4,094 4,133,272 72,938 6,116 930,036 2,396,782 5,954,900 769,810 66,244 18,062 76,776 177,664 588,694 January, 1941 Averaog per month July, 1940 to January, 1941 (Peso) 21,142,086 18,107 2083116 2,597 872,579 170,988 25,891 271,797 17,708 1,054,640 869,987 282,708 16,107 89,849 262,294 4,628 111,711 94,885 450,469 67,612 87,282 1,286,410 8,646 19,044 3,549 3,939,861 73,017 6,126 996,120 2,545,049 6,591,816 690,593 533,607 224,619 146,699 194,075 575,727 TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: FEBRUARY, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) Per cent of TOTAL EXPORTS....... 25,431,915 100.0 American........................ 9,764,660 38.4 Mail............................. 6,266,300 24.6 Japanese......................... 4,192,754 16.5 Japanese.4,192,754 16.5 Norwegian...................... 2,006,674 7.9 Norwegian.2,006,674 7.9 Dutch............................902,327 3.5 British...........................706,890 2.8 Panaman........................ 463,848 1.8 Philippines....................... 321,458 1.3 Russian...316,494 1.2 Swedish.......................... 284,034 1.1 French........................... 165,496 0.7 Greek............................37,500 0.1 Aircraft.............. 3,480 (1) (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: FEBRUARY AND JANUARY, 1941 (Note: Total value of imports does not include the value of personal effects, and household goods of passengers arriving nor of. currency and notes imported into the Philippines.) February January Per cent Port of cent Value ncreae Port of entry Value of Value January to (Pesos) total (Pesos) February TOTAL IMPORTS........... 14,024,092 100.0 21,869,470.9 Manila........................... 12,758,826 91.0 19,554,130 -34.8 Cebu............................. 721,726 5.1 1,862,264 -61.2 Iloilo........................... 409,860 2.9 289,036 41.8 Davao...................... 75,200 0.5 96,122 - 21.8 Legaspi.......................... 19,126 0.1 31,214 - 88.7 Jolo............................. 13672 0.1 15,706 - 13.0 Zamboanga.................... 25,682 0.2 20,984 2.4 Aparri...........................14 - 100.0 @ Minus sign (-) indicates a decrease. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: FEBRUARY, 1941 Value Per cent of Nationality of carrying vesl (Pos) total TOTAL IMPORTS........... 14,024,092 100.0 American........................ 7,083,394 50.5 Dutch............................ 1,634,530 11.7 Philippine....................... 1,339,622 9.6 Norwegian....................... 1,287,418 9.2 Japanese......................... 1,071,188 7.6 British.......................... 986,170 7.0 tail............................ 308,856 2.2 Swedish......................... 272,878 1.9 French........................... 28,120 0.2 Aircraft........................ 10,130 0.1 Danish........................... 2,280 (1) Spanish.......................... 6 (1) (1) Less than 0.1 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: FEBRUARY AND JANUARY, 1941 Port of origin F'ebruary Value ) Per cent Value o (Pesos) total total TOTAL EXPORTS........... Manila Cebu....... Iloilo......... Daao........................... Davao tegaspi Legaspi.......................... Jolo Zainboanga Jose Paiiganiban....... AParri ft i........................ 25,431,915 15,908,463 2,755,693 4,035,724 1,244,809 308,688 2,989 274,233 901,316 100.0 62.6 10.8 15.9 4.9 1.2 (1) 1.1 3.5 January Value (Pesos) 24,010,672 13,933,893 3,342,577 1,302,487 1,752,422 400,690 88,865 879,724 2,774,514 865.00 Per cent increase@ ranuary to February 5.9 14.2 - 17.6 209.8 - 29.0 - 23.0 - 92.8 - 27.8 - 67.6 -100.0 @A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. The American Chamber 'ofdomswrqe. Journal Amil, 1941 3T

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending February 22, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of November, December, 1940, and January, February, 1941, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING N E OF Ric Pal Sug Sum Co; Coc Mol Her Tot Liv Mir Lur Oth Mai All I INUMBER OF COMMODITIES FREIGHT CARS _ 1941 1940 e................ 424 428 ay................ 217 279 far............... 1,562 1,076 gar Cane........ 8,275 9,191 )ra.............. 712 652 conuts............ 173 53 lasses............. 21 31 np................ - - >acco............. 7 estock............ 23 17 ieral Products.... 187 416 tnber and Timber. 321 312 ler Forest Product 5 1 nufactures....... 8 295 Others including L.C.L...2,482 2,737 TOTAL.......... 14,727 15,488 TONI 1941 5,628 2,733 49,386 155,499 7,588 2,747 680 83 182 2,449 8,846 34 4,898 22,773 263,526 1 W 1IP IGHT Increase - 4AGE Decrease 11-40 Cars Tonn5 6,375 ( 4) T~ 4,060 ( 62) ( 1,32 34,054 486 15,3 168,463 ( 916) (12,9 6,105 60 1,48 553 120 2,19( 1,001( 10) ( 321 - 7 1 190 6 ( 4,327 ( 229) ( 1,878 7,387 9 1,456 30 4 5,465 23 ( 567 20,444 255) 2,329 258,454 ( 761) 5,072 I.,, I T...T - - i i i i i i i _ Rice, cavanes.................... Sugar, piculs..................... Copra, piculs..................... Desiccated Coconuts, cases....... Tobacco, bales................... Lumber, board feet............... Timber, kilos.................... NOV. 59,460 73,662 111,527 34,031 1,101 1,049,410 243.000 I D1)C. 78,832 497,168 100,023 48,280 638 616,463 487,000 I JAN. I FEB. 87,664 107,508 878,123 706,520 156,340 172,206 32,920 52,593 --- - 2,563 1,031,166 2,026,558 398,000 252,000 SUMMARY Week ending Feb. 1, I,,,,, 8,,',." 15, " 22, TOTAL.......... 3,956 0 6 7 1,8A I nA x. 4,U35 3,334 4,028 3,330 14,727 3,956 76,095 4,002 54,064 3,737 75,165 3,793 58,202 15,488 263,526 rl. 65,207 79 67,566 ( 668) 61,994 291 63,747 ( 463) 258,454 ( 761) I 10,-8 (13,442 13,171 ( 5,545 5,072 * m.1-,:tc...... a..... - S te- - J! "1..... I- - I - - - -- -, - -, - -, -- -: nguresIII Daenthess indiate derease - ---- - I - - - - - - - - - - - - - -- - - - - -. - -r. That up to date the effects of World War II on life insurance are negligible, comes out in the 1940 annual report of Sun Life of Canada. In 1940 this company's assets reached $950,000,000 and increased $36,000,000 from 1939. Payments to policyholders were $94,000,000; business in force is nearly 3 billion dollars. Thirty-one per cent of this is in Great Britain, and the company writes no policies in Europe. It turns out that the normal death rate among this company's policyholders in the United States exceeded that among policyholders in Great Britain and Canada, including casualties from war. All claims due to war were only 119; they involved less than $500,000 and were below 2%0 of total claims. This compares with 9% of total claims due to accidental causes; automobile accidents alone gave rise to 4% of all claims, so it seems that up to this juncture, war life in England is less subject to casualties than peace life in America. Altogether, Sun Life has 1,200,000 policies in force, including group certificates. Germany is dependent on foreign sour ces for virtually all of its nickel require ments, but is obtaining practically all of its vanadium from blast furnace slags al though the country has no supply of vana dium ore. Gil Puyat The 1940 president of Manila Rotary and the vice president and manager o Gonzalo Puyat & Sons, well known furni ture manufacturers, he has been namec dean of the College of Business Adminis tration at the University of the Philippines I i I I I I 4 1) I I q I I I I Iif II. f id d e d I Peru has adopted governmental meas ures to encourage development of gold placer areas throughout that country Technical, economic, and social assistanc will be provided by the state. New road construction and landing fields for planes are planned for areas now inaccessible. i I BUSINESS AND PROFESSIONAL DIRECTORY a I CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Investments Collections Income Tax 560 Taft Avenue Manila, P. I. -1 'I 38 The Amerinaa Chamber of Commerce Jolrg April. 1j41 (

THEt~ AMRIACAME OF COMERC OH NAL~~~~~~~~~~~ MANILA PHILIPPINES "-I. I, N, ( ) 5 NLA ), I 9 - I I KI. NO. 5 MA'\' UH AS~~~~~~~~~~~~5C " (JNTIA VOS

l'! A ji I "I I

I~~ ~ -~~ Only SERVEL 10- YEAR uNc( Offers The Amazing GUARANTEE )NDITIONAL THE FREEZING UNIT IN THE SERVEL ELECTROLUX GAS REFRIGERATOR IS UNCONDITIONALLY GUARANTEED FOR TEN YEARS FROM DATE OF FIRST INSTALLATION AND UNDER NORMAL USE. 0 MANILA GAS CORPORATION ~r I I IL Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY I (

-L7tt~e Morton "Jock" Netzorg -404 Water Street, Jackson, Michigan: a young Manilan. "Even at this distance the Joutrnal keeps its freshness and provides a tie to the Islands which are my real home. In the February issue there is an article on the medley of American legal and semilegal holidays, in which you state that Washington's birthday was first observed as a holiday in Jefferson's administration. Please allow me to quote: "'A Proclamation' "'Whereas the Congress of the United States have this day resolved: "That it be recommended to the people of the United States to assemble on the 22nd day of February next, in such numbers and manner as may be convenient, publicly to testify their grief for the death of General George Washington, by suitable eulogies, orations, and discourses, or by public prayers;" and "That the President be requested to issue a Proclamation for the purpose of carrying the foregoing resolution into effect-". Now, Therefore, I, John Adams, President of the United States, do hereby proclaim the same accordingly. "'Given under my hand and seal of the United States, at Philadelphia, the 6th day of January, in the year of our Lord 1800, and of the independence of the said States, the twenty-fourth. "'John Adams. PLOMB LAND FORGED Automobile & Aviation Tools FIT for the work they are built for, and GUARANTEED to do it PLOMB TOOL COMPANY Los Angeles, Cal. Represented exclusively by E. VIEGELMANN 460 Dasmarifias-Manila, P. I. Li _. 11 9 — Ask for Sehenley's "Golden Wedding" Whiskey RYE or BOURBON Sole Agents: THE MANILA WINE MERCHANTS, INC. Largest Wholesale and Retail Liquor Dealers in the P. I. M. 9 Head Office 174 Juan Luna Tels. 4-90-57-4-90-58 Retail Branch Office 37-39 Calle Alhambra Tel. 2-17-61.9 "L?2ames That?lea t "Well D1 esser,9 MANHATTAN shirts A, JOHNSTON-MURPHY shoes \' HOLEPROOF hosiery COOPER'S underwear ALLIGATOR raincoats HICKOCK belts and suspenders and TAILORING by Hamilton-Brown Bi HAMILTON- BROWN 109 ESCOLTA MANILA, P. I. "'By the President.' "A minor correction indeed, but one which my Adamsoniana demands be made." (Thanks, Jock, you're a fine young scholar; and also, congratulations on your marriage). * * * Nathan Habib -Associate Editor, Bibliography of the Territories and Outlying Possessions, New York. "At this time when American foreign policy is shifting in scope and emphasis the Territories and Outlying Possessions are becoming more important. My research work in this field compels me to list all available periodical literature. "I wonder, therefore, whether you would give me a list of titles pertaining to any articles in your magazine on Alaska, Guam, Hawaii, Panama Canal Zone, Philippine Islands, Puerto Rico, Samoa, and the Virgin Islands. "All bibliographies of these areas are to be published and I should appreciate your help. An acknowledgment of this letter would be most welcome. This work was called to the attention of the American people by Mrs. Eleanor Roosevelt in her column My Day on January 28, 1941. She referred to it as a study which 'has a bearing on national defense, for it secures information which is of strategic and military I WISE & COMPANY, INC. Cebu MANILA Ioilo FOUNDED 1826 EXPORTERS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum I M P O R T E R S Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds MANILA OFFICE Wise Building, Juan Luna Cable Address "SAPIENS" Standard Codes I,~ The American Chamber of Commerce Joursl May, 1941 1

value to the national program.' (We have referred Editor Habib to the magazine's files at the Library of Congress, with the notation that they contain significant articles on a number of the subjects he mentions). * * * _. Dr. H. Eugene Stafford -Eminent Philippine surgeon, antiquarian and anthropologist. "I had hoped for opportunity to see you in Baguio and tell you in person my profound appreciation of your book Filipinos. I have just - I LYON STEEL PRODUCTS Storage Shelving Clothes Lockers Tool Storage Equipment Shop Storage Office Cabinets Folding Chairs Lockers for Golf Clubs, etc. For Sale A Photostatic Machine...... P200 only. Make copies of valuable documents in your own office. Clemson Lawn Mowers.......... P45.00 Exclusive Distributors F. H. STEVENS & CO. 227 Calle David Manila finished reading it for the third time. I only wish I had command of words to voice its value as it should be done. It is a most delightful collection of vignettes of people and towns, customs, history, and dreams, that is so beautiful and exhibits such loving sympathy as only you who have lived here so many years could express. "It is varied as a well cut diamond. Each story a facet throwing out a sparkling light of truth, and each different. "There has been no other such valuable and accurate study of the people that I have ever read. The years of personal, archeological, and historical study and research that you have undoubtedly given this work will be repaid by the future students of the world, and these people in their heartfelt thanks and admiration for your most useful and magnificent production. The book is the most valuable study ever made of the Philippines and its people." (Since most of our readers know Dr. Stafford, they may like to learn his estimate of a work so largely made up as Filipinos is, of pieces originally published in this magazine. We are not of course getting to Baguio this summer, but we do envy the Staffords and other friends their living there. They may expect us in on them one day in the monsoon season. with rain on the roof in sheets, when they must make us old-fashioneds, or juleps at least, and serve them off a mantle over a pine-knot fire). i -9:lp -= COOL OFF! with a glass of ice-cold sanMi ud pale ilsen The BEST of GOOD BEERS Since 1890 S!an I inu teToecy! F! ( 2 f 2 The Americsa Chamber of Commerce Journal May, 1941

Commanding General Grunert and Ranking Officers of the Philippine Department U. S. A. Major General GEORGE GRUNERT, U. S. A. As commanding officer of the Philippine department of the United States Army, General Grunert would be in charge of the Federal administration of the Philippines should this country be involved in war and placed under martial law. i ~..pi~~H" c: r`'`~ y r r,: e iLI i IJC..LL & c ~~ r r.~T Major General Jonathan M. Wainwright, Brigadier General Edward P. King, Jr., Brigadier General George F. Moore, U.S.A. U. S.A. U. S.A. Commanding General, Philippine Division, General King commands Fort Stotsenburg. General Moore commands the harbor U. S. A., Fort Wm. McKinley. defenses of Manila and Subic bays.

Colonel Arthur W. Holderness, U. S. A. Chief of Staff to Major General George Grunert, commanding the Philippine department. Lieutenant Colonel Charles P. Stivers, U. S. A. Assistant Chief of Staff to Major General George Grunert, commanding the Philippine department: personnel. Colonel John T. H. O'Rear, U. S. A. Assistant Chief of Staff to Major General George Grunert, commanding the Philippine department: military intelligence. i i I I 6 1 Colonel Allan C. McBride, U. S. A. Assistant Chief of Staff to Major General George Grunert, commanding the Philippine department: plans and training. Lieutenant Colonel Charles A. Willoughby, Colonel Daniel H. Torrey, U. S. A. U. S. A Department Adjutant General, Philippine Assistant Chief of Staff to Major General Department, U. S. A. George Grunert, commanding the Philippine department: supplies. 4 If The American Chamber of Commerce Jourtal May, 1941

The Oldtime Galleon Commerce How, when, and why it was established.-Eastward and westward voyages.-Significance of the commerce.- Chinese interest in the trade.-When, how, and why it ended. The oldtime galleon commerce between the Philippines and New Spain, Mexico, or the northern viceroyalty of Spain in the Americas, was the most venturesome and picturesque maritime commerce known to the history of man. It involved the longest voyages, fraught with the most danger and the most incessant risks of life and fortune; and it may be argued that nothing short of the gallant Spanish spirit of the 16th century could have conceived and established it, since it had to be done, not merely with the encouragement of the royal patronage, and under particular dangers, such as a foray on the Spanish main by a Drake or a Cavendish, but by aid of the royal exchequer itself. This same trade was always poorly managed, by account of Spanish observers themselves, and characterized by every imaginable profligacy. It lasted precisely 250 years, and boasted, of course, the largest and best ships in the world, ships usually built in the Philippines, from Philippine materials, by Chinese and Filipino craftsmen and apprentices whose services were generally impressed rather than hired. If the building was at Cavite or some other point on the bay, timbers as well as men came from Pampanga, and the building of the galleon, or 2 to 3 for a single year, involved the most exiguous sacrifices on the part of the people. The reports say that a galleon that stood the king's treasury P60,000 cost the Pampangans P150,000. The work was a responsibility of the royal governors at Manila, and intercessions for sufferable treatment of the workmen impressed for the job came from the friars in charge of the parishes. At the same time, fiduciary funds in the charge of the brotherhoods were the main capital with which the commerce carried on. Casualty of the extremest order typified all aspects of the trade, sometimes interrupting it for intervals of years, when the broken ends of business would invariably be taken up and pieced together where they had been parted: sometimes by shipwreck or even fire at sea, sometimes by the necessity to return to port at 7The American Chamber of Commerce Journal UMa, 1941 Manila in the early days of the Galleon Trade (from an old drawing of the harbor and city). Manila, after months of buffeting ceaseless gales; more rarely, 5 times during the whole period, from capture of the galleons by enemies, Dutch or English, or in one case, Japanese on whose shores a rudderless and seabeaten galleon had drifted for succor. The commerce began when Japan traded freely with the Philippines, as with all the world, though under barbarous coastal regulations as to her own shores; when indeed she wished to send competent men to Manila and Acapulco to learn the art of shipbuilding for the highseas; and the trade ended when for 180 years Japan had been shut up entirely from the West save for the annual exchange with the Dutch on their little isle of Daishima in Nagasaki harbor, where they were permitted to maintain a factory under humble restrictions. It is waste of hours to study the Lazws of the Indies respecting the galleons. Necessity knows no law; the galleons were a necessity of existence to the Spanish community in the Philippines, and the king's laws respecting them were never obeyed. When the king said to build galleons of 300 tons, royal governors had them built 3 times as large, or even larger. When the king said they might carry cargoes valued at P250,000, they carried cargoes valued in the millions of these classic pieces-of-eight, the silk money from the King of Silver, as Chinese emperors named the kings of Spain. This Mex., from the royal mints in Mexico, is the one enduring legacy of the commerce in the Par East, especially in China. The American trade dollar coined up to 1867 was the companion piece to this Mexican peso, to convenience American traders at Canton, Macao, Shanghai and Hongkong, and the Hongkong dollar is a lineal descendent of the peso. If the king said to mount 60 brass cannon on one of his galleons, it was more probable that 15 would be mounted and the others would go into the hold, as a sort of special ballast, in order that larger quantities of illicit cargo could be freighted. When the king fixed the maximum value that a boleta or a pieza, a standard fraction of a boleta, might contain, it was rather more than certain that the actual content of the package would be worth much more; just as the permiso, the silver that might be shipped from Mexico in payment for 5

The 80-ton Ship Victoria. This ship, out of Magellan's original fleet of 5, completed the first circumnavigation under command of Sebastian del Cano after Magellan's death in battle at Mactan, near Cebu, and her cargo of spices from the Moluccas more than repaid the cost of all the fleet and the whole voyage, survived by 19 men out of the original crews. the cargoes from Manila, that could not legally exceed twice the value of the cargoes, usually ran into millions of pesos and not mere hundreds of thousands. The king, too, might stipulate that the commanders of his galleons should be qualified seamen only, yet his governors would appoint to these places, where the pay alone was P3,000 to P4,500, someone whom they Swished to make happy. A galleon general's share in the proceeds of a voyage might be worth P40,000 or more, and there were other perquisites. This noble or patrician was likely to be the head of some family quitting the Philippines for good and all, say an official assistant to the governor involved, who was rated as fully entitled to a final coup in the commerce as well as a comfortable birth on the voyage homeward via Mexico. For below all this circumvention of royal orders and requests, lay the more fundamental necessity to maintain the colony; and as was often explained to Madrid, Spaniards would not abandon Mexico or the Peninsula, or Peru and the southern viceroyalty, and undertake the perilous voyage to, and tormenting sojourn in, the Philippines for reasons of health or sheer adventure. The king might say to send but a single galleon a year to Acapulco, but a governor whose interest lay with the welfare of the colony would manage to dispatch 2 galleons; or sometimes when the king was of a mind that safety lay in sending 2 galleons instead of 1 only, Manila might prefer to risk everything in a single bottom and the governor would build a galleon that for the age and times was a leviathan, perhaps one of 1200 order that no foreigners be employed on thie galleons-the French, the tons' burden. Again, the king might Dutch, and the English might all be heretics, and the Portuguese entirely unfriendly-but the governors had to find such seamen as were available in Manila, pilots more particularly, so they would, under this exigency, employ foreigners: British, Irish, Dutch and Portuguese pilots-all were employed during the history of the galleons, along with Spaniards, who were likely to be Basques. Royal governors took unusual personal risks to their fortunes in all this business. Before leaving Manila, at the termination of their services, they had to endure the residencia, the official examination into their administrations by their successors, when everyone was free to lodge complaints against them. But the greater risk, it was found, lay in falling out with their countrymen in the Philippines; the wiser course was that of least resistance, and to accumulate, as might be feasible, such ample resources as might, under rules of prudence, tend to mitigate the hazards of the residencia and leave a governor free to depart in honor from his office with the next galleon out from Manila. Nevertheless, the galleon commerce aside, the records are filled with services to the Spanish king of the utmost courage and fidelity, by the royal governors; and even all that appears in connection with their ad. ministration of the galleons is matched, if not quite overmatched, in the contemporary annals of other na. tions, so that even at the end, when the galleon trade was atrophying, a Duke of Wellington fighting for Eng. land in Spain could remark in just anger on how much it was proposed to send him for his troops, and holy little actually came to hand. Nor can it be doubted that the atmosphere of Manila during the galleon trade was permeated with squeeze, as on no other terms could the exchanges with the Chinese, constrained to live by their wits and practically outside the law, have been effected. The Spanish court was dealing all the time with abstractions, the governors faced harsh realities and had only a certain season of the year in which to have the galleons loaded and get them off to the Pacific. To the usual, or the accepted, means of doing this, the governors were practically bound. Impasses were to be avoided. The king said in 1593 that 300 tons should be the size of the galleons, but the community at Manila refused to ship in such tubs; in 1589 the size had reached 700 tons, by 1614 1000-ton galleons were employed, and in the fleet built by Governor Juan de Silva for conquest of the East Indies (brought to naught by storm, a Acapulco Harbor (Mexico) During the Galleon Commerce. i i I I t 6 The American Chamber of Commerce Journal May, 1941 (

I I I I terrible loss and terrifying situatioll), 1 galleon was of 2000 tons, 1 of 1600, 2 of 1300 tons each, 2 of 800 andl 2 of 700. A century later, of 3 galleons on the Acapulco run the smallest was of 612 tons and Woodes Rogers, a British buccaneer, was unable to take her. The second was of 900_ tons, and the third of 1000. These sturdy ships were indeed Iwonders of their age. Their halfmoon appearance on the sea came from their high forecastles and poups, an awkwardness that was somewhat compensated by their great breadth; a galleon of 1095 tons' burden was 43 feet in the beam, 130 feet in the keel, with a depth of hold of 22 feet, and had 70 guns to defend her. The king's permission in 1720 for a galleon to be of 560 tons (instead of 300 stipulated in 1593) was a dead letter before it was sealed; the galleons had been much larger almost from the outset. The Manila Galleon, William Lytle Schurz (Philippine Education Co., P15) is a rich source book on the galleons and history pertaining to them, and gives the dimensions of the Nuestra Seiiora del Rosr'io that was on the run from 1746 to 1761. She was of 1761 tons, though the king sanctioned 560 tons only! She carried 18,000 piezas of cargo, though the king's limit was 4,000! The Savtisima Trinidad was taken by the British in Philippine waters on their foray occupying Manila in 1762 as an incident in the Seven Years war, the capture coming of the galleon's being forced to turn back from the Pacific because of bad weather. The British took their prize to Plymouth. She was considerably larger than the Rosario and freighted a cargo that the British valued, on taking it out of her at Manila, above 2 million pesos. Her size topped 2000 tons; her gun deck measured 167.1j feet; she was 501/ feet in the beam, and 301/2 feet in the hold; as she lay at Plymouth advertised for sale, her displacement was 28 feet and she was such a showboat because of size and royal lines that folk from all southern England went to see her. When Admiral Cornish's frigate Arfgo attacked this galleon, the galleon had only 6 of her many heavy guns in place! These 6 guns drove the Argo off, to await the next morning and the coming up of her consort, the Panther, of 32 guns. By this time the sea-weary Trinidad had up 7 more guns out of the hold, and gave the Britishers a stiff fight of more than 2 more hours before striking her colors. Her better defense had not been her guns, but the Philippine 1((ran with which she was planked. The British fired more than 1000 Tll American Chamber of Comnmes Jornsi d 1,, 9411 A Galleon used in the Trade with Acapulco. shot of 18 and 20 pounds into her, with no impression below her upper works. Larger shot bounded off the sides of the galleons when corsairs attacked them, smaller shot penetrated only as into a sponge, and the lauan closed round them. When Commodore George Anson took a galleon, 1743, he could do her no damage below the water line. This was the Nuestra Senora de Covadonga. For the building of galleons the Philippine woods were considered the best in the world. Their great strength came of the use of these woods and explains their ability to weather the vicissitudes of the eastward crossing. Jolo teak comprised the framework. Ribs, knees, keel, rudder and inside work were of molave, a wood that in some respects excels steel, and a wood that like others of its group in the Philippines has a heavier specific gravity than water. It may be imagined how a galleon laden to appease the cupidity and assuage the necessities of the Spanish community at Manila, lumbered squarely along in the sea and managed a halfyear's voyage with peril of floundering-with occasional exceptions. The Trinidad had been built at Bagatao, Albay, the very port to which she was making when the British sighted her in their search for the Filipino coming back to Manila with the permiso from Acapulco. (Governor Anda, holding out against the British in the provinces, got the silver off the Filipino before the British beached and burned her at Palapag. The sum of this silver was about 21/2 million pesos, far in excess, of course, of the legal permiso). The Trinidad cost the king P191,000. Observers could not always understand why it was that a galleon cost the royal purse so much, since it was the king's timber that was used and the labor was impressed. If the king himself wondered over this at times, in the voluminous records was always an explanation. The whole business was done according to record and official requirement. There was a pieza for every entry on the manifests, there 7

were paid authorities to do the checking both at Manila and at Acapulco; there was never any other intention than to satisfy the king's stipulations punctiliously, and then of course to gratify the shippers at Manila and the buyers in Mexico, a desideratum the king did not always take into complete account, nor yet his Council of the Indies. Manila lived solely from the galleon trade and competed in Mexico with merchants of Cadiz and Seville, many of them foreigners, and others lending foreigners their names, sending goods to Vera Cruz on the opposite Mexican shore. Contentions of these rival interests were endless and embittered, but on the whole Manila held the winning card because she was a mission post and the crown's primary objective in the Philippines, when the early ambitions for spices and gold were disappointed, was pride of empire and the salving of pagan souls. So after all, the kings seem to have been well aware of the modus vivendi so little in conformity with the letter of their commands. Their orders were often enough pleasing to Cadiz and Seville, but their real pleasure was that Manila should be prosperous and motherly toward the missionsa true gem in the royal crown. The northern viceroys at Mexico were similarly sympathetic with the Acapulco commerce, whose entrepreneurs were more generous with their perquisites than were those at Vera Cruz and the fair at Jalapa. At all events, the winking at misconduct, as it might be judged by the letter of the royal decrees, was very general. For instance, the Acapulco trade was confined very early to Mexico, and excluded Peru, the southern viceroyalty, and Tierra Firme, the Spanish Main. This never made the slightest difference, when some special visitador from Madrid was not around; and private ships from Peru, with plenty of pieces-of-eight, came regularly to Acapulco to buy at the fair and return with their goods to Lima. The viceroyalties were the homes of rich Spanish communities; trade forbidden by caste to Spaniards in the Peninsula, in the viceroyalties was the approved thing even for officialdom in the crown's service, and from trade the communities grew wealthy-especially from the Aca pulco trade that yielded much wider gains than the trade at Vera Cruz in peninsular and European manufactures. The creoles freely spent their substance for oriental luxuries freighted so liberally by the king's galleons. Writer after writer describes the pomp of fashion both in Mexico and Lima and Potosi, and generally throughout the Spanish Americas, as they had been, to that date, occupied from the Peninsula. Both men and women habitually dressed in silks and adorned their apparel with precious stones and pearls. One commentator speaks of 2000 handsome coaches on the Alameda of an afternoon, "full of gallants and ladies and citizens to see and be seen;" and they were all seen spending silver lavishly for stuffs such as clothof-gold and the finest China silks, and a profusion of pearls and oriental gems. The silks were to be had from drapers, themselves Spanish, on calle San Agustin, while jewelers' shops lined the calle La Plateria, and the stocks of silks and jewelers' baubles had the value of millions. So New Spain flourished, making many Spanish fortunes, while all to the north, now the United States and Canada, was wilderness; for the co much larger quantities of silver which the king tithed for his treas. ury; but most of this treasure left Spain at once, much of it scarcely touching port at Seville or Cadiz, the means being the persistent smuggling and payment for Spain's mercantile imports, even these being very gen. erously smuggled over the bounda. ries. Spain disdained to manufac. ture, much less to trade, in order to hold her wealth from the Indies and New Spain; though Catalans and Basques could make goods as well as sell them, the galleon trade was rounding to its close before these and other enterprising folk of the Peninsula were accorded trading contacts with Mexico. The galleon commerce began in 1565 with one of the ships that had brought out from Mexico to Cebu the Legaspi expedition. This was the Chinese Junk: Galleon Commerce Period. Fleets of these junks brought cargoes from China to Manila to make up the galleon cargoes for Mexico. I i lonization of Canada awaited the dispersal of the Huguenots and the revocation of the Edict of Nantes, while the first English settlement, on the James river at Jamestown, was to date only from 1607. No silks and jewels were wanted at the second English settlement, Plymouth, by the Puritans of the Mayflowzer, in 1620. Thus it is a fact that Manila was a flourishing galleon-trade mission city in the Far East when the foundation communities of the United States of our era were just getting started, and in a rude fashion, because the Spaniards, in their territories reveled in the gold and silver resources of those regions and the garnered wealth of the Incas and the Aztecs. Regular fleets went off to Spain laden with quantities of gold and San. Pablo commanded by Legaspi's grandson, Felipe de Salcedo, but piloted by the renowned Augustinian, Legaspi's own pilot, Fr. Andres de Urdaneta, an example of Spanish nobility among the thousands of missionaries of the period. Urdaneta had brought out the expedition very easily by the direct route from the American coast past Guam, and this was established as the westward route of the galleons, that from the Marianas bent all sail, usually on fair seas, straight for Cape Espiritu Santo on Samar and the straits of San Bernardino opening into the Pacific at the Embocadero. To chart the eastward voyage, Urdaneta left the Philippines via the Embocadero and struck northward to the region of the Great Circle westward of the Ladrones, and there, catching favor 8 Thf Amercan Chamber of Commerce JournhI' May, 19.41 (

.ijle winds, turned east for California. His charts were long used, and:!is became the route of the astonishingly brave galleons to the end of the commerce in 1811-the final eastwal'd voyage. No essential discoveries were made. The ships were commercial, not discovery vessels, and a chimeric hope of coming on the fabled islands, Isla de Plata and Isla de Oro, east of Japan, probably intervened to prevent the Spaniards ever discovering lte Hawaiian Islands, which the eastward galleons habitually passed far to the north. Not only were the prevailing winds, at the optimum time of the year, most favorable to the eastward movement of the galleons in the latitude of the 39th parallel or further north, but the replenishing of the water supply was more assured from the frequency of the summer on of fresh water, fresh vegetables and greens, live fowls, beef and swine, etc., was the last errand undertaken at the Embocadero and the straits before turning into the Pacific, where the unspeakable hardships of the voyage really began. No land would be touched, if all went well, until, 4 to 7 months or more ahead, Acapulco or its vicinity was reached; so not another fresh bit of food, save fish, would be had. But when it rained, mats would be hung in the rigging and over the waist to catch the downpour and refill the jars and tanks. All processes of life went on, and death soon came to cabin and deck alike. Scurvy was inevitable, worse pestilence frequent; and it is a fact, not even to be accounted unique, that care of life was less provided for in lading and supplying the galleons than care of goods; there was always Japanese Junk: Galeon Commerce Period c: the early years of the 17th century. of Our Lady of Good Voyage, now enshrined in the parish church of Antipolo, crossed many times with the galleons and gave all hands confidence in a good voyage and a profitable fair. However, 30 galleons, in the 250 years, were lost at sea with all on board unless, as occasionally happened, straggling s u r v i v o r s reached some island refuge-where they had to face it out with zealous indigenuous peoples, often hostile and even canibalistic. Schurz fixes the loss of lives in the thousands, and loss of property at more than 60 million pesos, including losses by arribadas-the forced return of galleons to the Philippines from distances far at sea. Some galleons burned at sea. One was never heard of after leaving the Philippines. Another was sighted and with difficulty intercepted drifting helplessly past Acapulco, not a hand remained alive to guide her into harbor. The San Geronimo that sailed in 1600 as the almiranta (the smaller galleon of 2) accompanying the Santa Margarita, illustrates the disastrous nature of an arribada. After 8 months of breasting the angry Pacific, she had to turn back toward the Embocadero and give her voyage up, and she was wrecked on the Catanduanes. Of the several hundred persons aboard her when she left Manila, only 8, and a woman among these, were now alive. The Santa Margarita, the San Geronimo's capitana (the larger galleon of 2) broke up, after 8 months' effort to sail on, on one of the Ladrones.* These are but examples of what sometimes happened in the commerce. Deaths up to 100, in the weary months consumed in the eastward crossing, were not unusual. The Trinidad might not have been taken by Admiral Cornish at all, had she had as many as 30 able men to man her guns; but she was an arribada, i.e., she had been forced to turn back to the Philippines, where landing was intended at Palapag, and few of her men were able to defend her. Far different was the alertness and salubrity of the westward voyage back from Acapulco with the silver from the fair, the king's subsidy for the [Continued on page 11] peared that the California coast was near, a period fraught with more suffering than half the passengers could survive-every vicissitudinous sun would be bleak with burial rites, survivors wondering if their turn would come next. Gayety dispelled all this gloom when the California headlands were known to be near, and the shifting of the course toward Acapulco was celebrated by macabre rites such as ships observe nowadays in crossing the equator. rains and autumn squalls. Six months was a reasonable time for this most trying voyage in the history of commercial navigation, and the community aboard would number 400 to 600 souls or more. A responsible officer was naturally in charge of the precarious water supply. Some galleons had water tanks, most relied on a varying quantity of huge earthen jars, many of them hung in the rigging, and the taking Yet these remarkable voyages were not unbroken vigils of anxiety, starvation, and disease. The early weeks were gay, while the fresh food from the Philippines lasted, and before the storms came and scurvy unleashed its torments. Following mass, everybody gave themselves up to amusement; there was music, also dancing and amateur theatricals, and the revelry, often of a boisterous nature, lasted into the night. Love and romance found their places in all this high feeling among the passengers, Nho, leaving the orient with their wealth, the hope, even among the passengers, who were also usually heavy shippers, that that particular voyage would be brief and fortunate. At that there was an apothecary aboard, and of priests no want. Also, of course, the galleons sailed under the auspices of one of the saints whose image was honored in daily services and special invocations in days of stress from pestilence or storm, or both together. The image were like prisoners emancipated from exile; and quite a few of them were no less than that, since the Philippines were a place of exile for noble offenders of the royal pleasure, as well as a place to harden and discipline recalcitrant sons of hidalgo families. Even gaming was indulged, another infraction of a royal decree, and galleon gefierals sometimes won from their passengers in the scores of thousands of pesos-of course at their own tables. Then would ensue the lonely weeks intervening until signs ap 1lp American Chamber of Commerce Journal -( /. 1941 9

American Chamber of Commerce of the Philippines DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth H1. Dean trellis C. G. Clifford, Secretary C O M M I EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs E. A. Perkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing C. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele ALTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E..Byron Ford A. P. Ames T T E ES: FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meacher E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Hellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather —Rattan) S. M. Jones (Sugar) J. L. Headington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen J. P. McPherson H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean Hellis T. Kevin Mallen A. P. Ames L. M. Hausman H. L. Suarez career will have followed the pattern of Napoleons. We are now at Austerlitz (when Napoleon was 34 years old), but Waterloo may be dimly seen ahead. History prepares to repeat herself, and like Napoleon, Hitler has lieutenants prepared to betray him and stand for Europe rather than for national socialism. Are not we the wise guy, to know all this first hand, from what friends tell us? And now all our readers know as much as We about the present crisis. Let them act accordinglyl We are far from facetious over the human sacrifices in. volved in every hour of this awful struggle; our smiles are only for those men far from harm's way who seem to know how it must turn out. However, this very struggle has had the effect of clarifying the future of the Philippines. While we gloat over no advantage that costs a single human life, this thing is palpable and will not be ignored. America is in the Philippines to stay. The crisis has taught her to install conveniences here and remain on permanently. It turns out after all, that the Philip. pines have to be converted into a federal fortress with rather invincible strength in every arm, but more particularly in the air and on the sea. We do not hazard how the political details are to be adjusted; fairly, of course, and something that goes without saying. OVERSEAS COMMERCE DURING WAR Some hind-sighters look back to world commerce in 1913 and contrast Germany's place in commerce today with what it might have been had she adhered to peace, forgotten big-navy ambitions, and, refraining from precipitation of World War I, kept on manufacturing and trading and building up her merchant fleet. They say that Germany would have been tops today. They say too that Italy would be booming today, with Ethiopia and Adriatic domination secured to her, had she not joined up with the Axis. But she chose association with the Axis and is of course miserably poor despite the Balkan situation where Germany helps her out, and Gestapo troops police Italy, her stock going down rather than up. She is but a satellite state of Berlin's. She has missed a bet. Her lot will be Hitler's leavings from now on out. Then it is imagined how much Japan's position would excel what it actually is had Japan kept out of China in 1937 and aloof in 1939 from the Axis. She could hardly be making goods enough to supply demands, first of all in China, and there would be ready business for all her merchant ships. Even now, if somehow she should contrive to loose herself from China and then renounce the Axis association, perhaps she could consolidate her position in Manchukuo and terminate (or materially mitigate) the remorseless Chinese boycott. But the actual drift of events is against her, her navy really buys her nothing and is, therefore, because she trades on the seven seas and is dependent on goodwill for sale of her products and manufactures, a costly velnture for her. The Axis association places Japan in belligerent juxtaposition toward her best friends, America and Great Britain, as it does Italy. It is indeed strange that Germany, who must sell much and can buy so little, who really has nothing whatever to offer these allies, managed to get them on her side at sacrifice of all present advantage and without promise for the future. For ill a German world triumphant, Germany will do the trading, neither Italy nor Japan. Germany fights fol' markets, not that she is a market herself. How could Italy, essentially a museum of art and antiquities, believe that Germans could take the places of her constant crowds from England, France, and most of all, the United The American Chamber of Commerce Journ al Mae. 1:l I WISE GUY We have inside information about World War II that we feel we ought to share at once with our readers. Two friends have told it us. Their accounts vary. That is too bad, introducing confusion. We take up the longer first. It is that Germany now has Europe and will have to be hammered to pieces from the air. Britain and America must hold the sea, and as soon as possible, command the air; and from the air, Germany must be so broken at home that Germans will see no good in pursuing victories on the borders, and will accordingly sue for peace. This will involve prolonged fighting, 2 years or more, with fantastic costs all round. Japan will stay out. The other account is that since Hitler has won Europe an armistice will come within the next month. Thus England will not be invaded. So will end the second chukker of the World War. Given a breathing spell, democracies will make the preparations for the third encounter that were palpably neglected for the second. This will come about in about 10 years. The Teutonic hegemony will fall in decisive defeat, Hitler's 10 1

States; how can she believe that in postwar trade the lire will prosper beside the mark? It will be the business of Germany to ruin her, rather to complete her ruin-a business that will not be a moment neglected. How can Japan believe that if Germany wins the seas from Englandl she will generously share them with a country she has so easily duped, from whose sundry manufactures German factories will have everything to fear? Does Japan assume for a moment that Germany will buy from her the silk and tea so long bought by the United States? That sort of Germany, with luxuries popularized, not only never has existed but is not now dreamed of: under national socialism, the German populace is to be kept poor, and very hard at work tinkering up export nicknacks to bring Germany the money her sterile soil will never produce. All these things have given the Philippines an odd tuirn. They find few buyers, except among American manufacturers; they find few suppliers outside the same olrbit. Month of March Purchases from the Philippines Country 1936 194.1 Off % Great Britain........ P 776,331 P 493,432 36.6 business with central Europe and greatly reduces business with England. Month of March Imports of the Philippines Country 1936 1941 Off % Great Britain........ P 391,769 P 306,570 21.8 Germany........... 561,608 1,610 99.7 France.............. 122,519 928 99.2 Italy................ 13,501 12,254 9.4 Japan............... 1,873,486 1,148,422 38.7 United States....... 11,803,436 20,401,502 42.0* Other Countries..... 2,425,916 3,447,286 29.6* All Imports......... 17,192,315 25,318,572 42.0* * Increase. Carrying for the Philippines during March 1936, American ships stood first with 37.8%, of the exportimport cargoes. British ships stood second, 23.3s%. Norwegian ships stood third, 13.27%. Japanese stood fourth, 12.7%c. Dutch ships stood fifth, 4.2%. Germans stood sixth, 3.4%. Danish ships stood seventh, 2.7%. The contrast with March this year is sharp. In March this year American ships stood first, 38.9%. Norwegian ships stood second, 16.0%o. Philippine ships stood third, 12.2%. Japanese ships stood fouth, 6.7%. Dutch ships stood fifth, 4.8%. British ships stood sixth, 3.8%. Swedish ships stood seventh, 3.2%. Thus the Japanese, at a period when rates are very high and patronage plentiful, have much less Philippine shipping business than they had in 1936; and they do not stand favorably to recover their position in the trade. You would guess they might practice to improve their stance. Possibly they soon will; that is to say, they will put themselves right with Washington and London and refrain from messing up the Pacific at Berlin's behest, motives for which are but too transparent and can in no way signify advantage for Japan. -W. R. Germany............ France.............. Italy................ Japan............... United States....... Other Countries..... 429,370 495,404 9,310 850,291 21,001,905 1,748,881 100.0 100.0 100.0 42.4': 16.8' 51.8:* 1,474,865 25,280,354 3,643,202 All Exports......... 25,311,492 30,891,853 18.1*::: Increase. The value of American purchases alone of Philippine exports in March this year, equals the value of all Philippine exports in March 1936. The war obliterates missions and his government, new troops and officers for the garrisons,!'oung priests for the missions, and frequently a royal governor and his suite. Two to 3 months saw the happv end of that adventure, the galleon, riding fairly high, spanking along ahead of reliable westerlies and passing both Guam and the Ladrones, where she could resupply herself. Tardiness commonly attended the sending off of a galleon from Manila; what ought to have been done ni:t later than June, because of the monsoon, was often not done until July or August, while May would have been the best month of all. The The Oldtime Galleon... Continued from page 9 hitch was that the junks from China, that brought the goods to Manila, had always to be awaited, after which the period of barter and buying ensued; and often the junks were as late as the governors were dilatory in making haste against the season of typhoons. To route the galleons to Acapulco round Luzon instead of through the Embocadero was often proposed during the 250 years, but seldom tried. Pilots preferred a tedious fortnight or even a month in Philippine waters, getting to San Bernardino, to rounding Luzon in a matter of days and risking passage through the Bashee channel toward the coveted 39th parallel; yet there were great risks in both routes, with chance rather favoring the one round Luzon, so this sqeamish conservatism of the pilots is an enigma never to be resolved. When Anson took the Covadonga at the Embocadero, he took her round Luzon into Canton, to rifle her of her cargo of silver, without difficulty, but of course his route was west and not east. With the possible exception of San Francisco, Acapulco, 280 miles south,I I-~llllllll~~L —LIIIIIIIIIIC Here' to Liby S S Famous Juices Just the thing for these hot daysOrder a dozen assorted cans today. htr American Chamber of Commerce Journal., 1941 11

of Mexico, is the best natural harbor on the west coast south of Vancouver. It is large and landlocked, and the deep harbor is hidden from the sea. Urdaneta chose it, to bring the San Pablo into, from Cebu, and it was used throughout the galleon period, though its fetid heat, its gnats, flies, and mosquitoes, surrounded as it is by high mountains shouldering close inshore, were not among its recommendations. Also, nothing was grown there to provision the merchants and officials attending the fairs, periods when the humblest dwellings became the resorts of nobles and rich merchants, and all, commonly by burro-back and muleback, in trailing caravans through mountainous defiles, had to be brought in from more productive regions. In the same manner the galleon wares, once buyers had acquired them, trailed off to Mexico, owners either riding guard or placing faith in muleteers and galloping on ahead away from the fearful heat. So much has been written of this romantic commerce, a chapter in maritime history that shines by light of the hallowed candle and the ship's profane lantern, that the purpose of it gets lost in description. That purpose was maintenance of a Spanish community in the Philippines adequate to hold the land for Spain: to give the missionary courage, to make the soldier content, to reward officials pleasingly, in short, to make Manila attractive in prospect, and sojourns there inviting and remunerative. By no other means could this have been done, the Philippines themselves being so sparsely peopled and the people producing so little beyond their immediate needs: gold and silver had not been found in reliable quantities, nor spices such as were envied the Portuguese in the Moluccas, later the Dutch. The king therefore provided these armed ships, and gave all Spaniards in the Philippines, in Manila more directly, participation in ownership of their cargoes. The widow had her share, also the orphan, and it may be believed that with all the fighting the king's men did for him in and about the Philippines in those early decades and generations, widows and orphans were often very many in the little community on the Pasig. The cargoes were the wares of China, silks, teas, tapestries and the like, supplemented by Indian textiles, Moluccan spices, etc., and such gold as was found or commandeered as tribute, and cloth from Ilokos, espe cially a popular strong sailcloth. The buying from the junk fleets was soon turned over to an official body that appraised everything and fixed the prices that would be paid, a regula. tion more often violated than obeyedl. Standard packages were boletas, 21., feet long, 2 feet wide, about 10 inches deep. The king prescribed the max. imum number, but no one paid the least attention. Boletas were in turn divided into piezas, the lowest unit. Participants who lacked funds to fill their quota, sold their space to those able to utilize it. This was the pi.i mitive beginning of the Spanish mercantile community at Manila, and the foundation of the older Spanish fortunes. In time the trade accumlulated in a few rich hands, out of which circumstance came the organization of the consulado and its participation in the administration of the trade along with the royal officers. Chinese did all the packing, having early fame for the enormous values, somewhat concealed, they could pack into very limited space. This is a second reason for some Chinese lresiding at Manila, or at Cavite, the first being their work in the building and repairing and outfitting of the galleons. As soon as this coimmenced, Chinese took up retailing: it was a necessary service, and no one else was around to undertake it. Here was the third way in which the permanent Chinese community grew. and also a way in which it expanded thinly over the city, outside the walls. Then there were crafts to carry on. locksmithing, armor making, carpeiintry, blacksmithing, and there were always interisland fleets to build and maintain, and hands to keep at the GOOD MEDICINE Next to your physician the most important thing is the medicine. No matter how well qualified your physician may be, he cannot get results unless the medicines are correctly compounded from the very best quality materials. The compounding, too, must be done correctly and accurately. The art is one that is acquired only after many years of actual experience in prescription work. The knowledge of each drug, its peculiarities, its behavior when combined with other drugs-these important features of prescription compounding are fully understood by the men who do the compounding in this pharmacy. That explains why many people look upon us as prescription specialists. BOTICA BOIE 95 Escolta w I Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL -- - — p22,000000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. 0. Box 3369, Manila, Philippines:9 I 12 The A4merican Chaomber of Commerce Jour't7l' May, 1:' 1 K

galleys. All these were further reaSOnlS for Chinese to live at Manila: if pagan still, within the walls of the patrian, but if Christian, persuaded to the faith either by the Dominicans in general custody of the task, or by the Jesuits of Santa Cruz, with much more freedom and more widely up and down the river. The silk market was on the northern bank of the Pasig across from Fort Santiago, the Alcaiceria fronting on calle San Nicolas that is now a public school. The guns of the battery of Santa Barbara frowned over it, the oldest fortification of the citadel, explaining the anxiety of the fesw hundred Spaniards in the walled city in the proximity of so many thousand, usually upward of 25,000, Chinese-always on the other side of the counter from the Spaniards in the business of trading, always specially and rather heavily taxed, often specially assessed, or pressed into galley service at the need of a governor to move against the southern Mohammedans or at heed of his ambition to take the Spice Islands for Spain, or oust the Portuguese from Malacca or Ceylon. What the Chinese began so early in, retail trade, they largely retain today; they are also still important in all the crafts, and have of course steadily expanded all their activities. Several massacres during the galleon period made no lasting impression on their numbers or their commonly peaceful relations with the authorities. But there were times in Manila after 1603, when 23,000 or more were killed during the most excited hours the Spanish community ever passed: the Parian had risen, or so it was bruited about, and it looked as if the Spaniards were all done for. As has been intimated, a fair ensued at Acapulco on arrival of the Manila galleon there. First the king's officers went aboard and verified the cargo according to the manifests; then all hands, ships' officers and port officers, went ashore for conviviality and momentary recuperation from the toilsome journey; then one and all went back to the ship for the real business of the occasion, the getting ashore, and safely into the fair, of the illicit cargo-the major portion of the lot. Even Madrid usually winked, the main point was that Manila had to survive. Buyers bid against one another at the fair, and how could this be reconciled with the king's rule that the silver taken for the goods should be only double the goods' worth on the manifest? In no way at all, and the logical outcome was that a galleon brought back to Manila silver several times the worth of the declared values on her outward manifests. Nor did the king's agents open boletas to verify their contents, more than occasionally; what the boletas contained had been the subject of legal oaths, and the king would have deemed himself no hidalgo had he permitted these statements to be regularly questioned, so he never did so. Religious funds soon came to be the chief means of financing the commerce. The Misericordia had many early gifts, and used its surplus in this way, making loans to buy goods and also to insure them. After a loss at sea or a disastrous arribada, many shippers had been ruined without recourse to these arrangements; as it was, with their rights in future cargoes, they might borrow and tide themselves over. Rates were high, 50% to 100%, for they had to be more than commensurate with the risks. This banking was formalized by Isabel II, queen of Spain, long after the galleon trade ended, in the founding of the Banco Espafiol (Bank of the Philippine Islands) and the Monte de Piedad. The galleon trade was obviously inimicable to the agricultural and commercial welfare of the Philippines. It involved foreign goods almost exclusively, discouraging local initiative. It poured silver out of [Continued on page 28] MILLIONS FOR DEFENSE! Ir i IT'S TIME TO INSURE National defense is but another form of collective insurance. A whole nation rises to meet an impending danger. Precaution, preparedness, protection —are the elements that have made insurance so necessary in civil life. In times of peace our citizens have always faced the continuing threat of attack from fire, explosion, flood, and other hazards that cause ruin of property, interruption of business and untold losses. Filipinas acts today as always to ward off loss by offering various form of coverage. In times of stress, the importance of such protection cannot be over-estimated for the security of the nation depends upon the security of the individual. Filipinas Compaiiia de Seguros, through its agents is the Commonwealth's leading insurance protector of both the home and industry. Your inquiries regards insurance are cordially solicited. EltAt *-TRUST FIDtLITY -"SURETY MWIDS - FIRE MOrTAO61 LOANS L~.,. 7"' I American Chamber of Coiimerce Journal "^fi1, 194 1 13

Factories and Lumber Drying Plant of the REDWOOD MANUFACTURERS CO. Pittsburgh, California REMCO REDWOOD TANKS: Agitation Leaching Solution Pachuca Thickening REDWOOD COOLING TOWERS: Atmospheric Forced Draft Induced Draft (Special Designs for Special Purposes) I SUBSTRUCTURES LAUNDERS FILTER BOTTOMS ZINC BOXES DISCHARGE DOORS also REDWOOD PIPE and MINING RIFFLES REDWOOD MANUFACTURERS San Francisco CO. Philippine Representative THE EDWARD J. NELL CO. NUMBER ONE T. PINPIN P. 0. BOX 1640 MANILA 14 The American Chamber of Commterce Journal Ma?l, 191 (

The Costs Of Gold Mining As Affected By The War Shortly after the start of the present European war there ensued a severe drop in the price of gold mining shares not only on the Manila stock market but all over the world iwherever gold stocks were listed. The Toronto Stock Exchange, which is the marketplace for hundreds of Canadian mining stocks, was particulaily hard hit and the shares of such sterling producers as McIntyre, Lake Shore, Hollinger, and others of similar merit, suffered in the general decline along with those of undeveloped companies. On the New York market, declines were noted for such established dividend payers as Iomestake, Alaska Juneau, and Natomas. The downward spiral of prices on the local exchange is of too painfully recent memory to require commient. The cause that was generally asciibed for the haste of investors to unload their gold shares on a weak and declining market was not entirely- hysteria, but superficially at least, was based on sound reasoning. It was held that the operating costs of all gold mining companies were lbound to increase under war conditions and soaring commodity prices. while the price of their product, that is. gold bullion, would remain stationary. With a fixed price for gold, but increasing unit costs, the margin of profit remaining would inevitably be less and hence dividend reduction would be in order. For mines where the margin of profit over costs was already small, it would mean shutdown. For mines with reserves of high grade ore, it would mean rapid depletion in order to keep up:production, with the need to abandon much low grade material that would not pay with higher operating costs, hence the life of the mine would be shortened. It made a disheartening enough picture, scarcely tempered by the faint hope that somehow, someday, the price of gold might again be advanced. Old records were thumbed over to learn what had happened to the gold mines during the first World War and fresh fuel was found for pessimism. It was discovered that durin'g the five year period 1915-1920 the profits of gold mines almost va"ished. Confronted with war time Prices for essential supplies such as dynamite, drill steel, cyanide, and fuel oil, along with inability to hold Baguio Gold Mining Co. Mill their men at the mines in competition with the siren call of big wages cheerfully paid by the base metal mines that were riding on the crest of 25 cent copper and 15 cent zinc, many gold mines quite naturally folded up. Gold production in the United States fell to less than 2,500,000 ounces in 1920, barely hair of what it was at the start of the War. The situation was so bad that there was serious talk in Congress of placing a bounty on gold production, such as was actually done for a time in Australia. The present war is now in its twentieth month, and if the prophets of disaster were right in their forebodings, some tangible evidence should be at hand showing acute distress of the gold miners, and should be readily evident in the recently issued annual reports of the companies which give financial and operating results during 1940. A critical study of these confirms the belief that while the gold mines have encountered increased costs for supplies and equipment, these increases are by no means so large as the Cassandras had held were inevitable. Indeed, in some cases, per-ton costs have actually de creased, even with stationary production of ore. A word of caution is necessary in making any comparison of costs between 1939 and 1940, or indeed for any two years. Conclusions cannot fairly be drawn if operating conditions at the mine have radically changed so as to make a rise or fall in per-ton costs out of all proportion to a variation in the cost of supplies. For instance, if the milling rate were greatly increased, a lower perton cost should logically follow in any event and the reverse, is also true. Similarly, a change in the character of the ore might eliminate a heavy marketing expense, and result in a lower milling cost even if tonnage were less. Hence it is necessary to pick out instances where milling rate has been maintained approximately the same for both periods under consideration, and where so far as known, operating conditions have not varied appreciably. With this in mind, the following table is submitted of operating costs before depreciation and depletion, for six well-known Philippine gold mines, during the years 1939 and 1940. The iT.( Amnerican Chamber of Commerce Journal * 14,. 1.R 15

essential data have been taken from seen contingencies do not arise afthe annual reports of the companies,, fecting America's position in the war, and it is believed that they may be no drastic change in cost of supplies fairly compared. need be feared. Operating Operating Mie Tonnage Costs Tonnage Costs.M7ine nmilled per ton, milled per ton, Change 1939 1939 1940 940 Big Wedge.. 75,362 P13.31 75,642 P12.84 -P0.47 United Paracale 112,729 17.10 126,321 16.03 - 1.07 Suyoc........ 77,096 13.97 79,152 14.58 - 0.61 Surigao Consol.. 104,091 8.30 117,017 9.44 + 1.14 San Mauricio... 148,732 20.07 182,696 17.39 -- 2.68 Baguio Gold. 118,224 8.75 142,995 8.45 - 0.30 These six mines milled a total of What had evidently been overlook636,234 tons in 1939, and 723,823 ed or at least minimized by those tons in 1940, an increase of 87,589 vwho feared 'that commodity prices tons, or about 13 per cent. Normally, would skyrocket on the declaration such an increase in milling rate of war, was the announced policy of should lower costs somewhat but not the Administration to put a ceiling to any extraordinary extent. The on prices so far as it was possible to average cost per ton of the six do so. Through various new agencies mines was P13.65, while in 1940 a moral and legal curb has been it was 13.12. This is a decrease clamped down on profiteers, and of P0.53 per ton, or about 4 per speaking generally, the great majorcent, and is quite the reverse of what ity of business men with the vivid was expected by some who had an- memory of post-war deflation still. ticipated that soaring prices for sup- with them are thoroughly in favor plies and equipment would play ha- of maintaining stable price levels voc with the operating costs. where conditions permit. Instances This showing during a war year can readily be cited of the Adminisis exceedingly creditable and the tration's price control endeavors, mine managements are to be congra- such as the practically fixed 12 cent tulated upon the results, but the con- price for copper and the 7 cent price elusion appears justified that after for zinc, altho demand for both memaking all due allowance for increas- tals at the present time exceeds doed efficiency and operating techni- mestic supply. With such static que, these costs could not have been price levels for raw materials, manuachieved had prices of supplies and facturers of equipment have less exequipment advanced precipitately. cuse for advancing prices on theiri Whether this will continue to be the, own products, even if they were willcase is problematical but it is a reas- ing to court the ill-will of old custoonable bet that if the Pacific remains mers by advancing quotations for the open for supply ships, and unfore- sake of temporarily larger profits. CARBOFRAX I 11 M uffles Hearths Bricks Carbofrax Cement No. 3 for furnace lining Shapestock. Carbofrax Cement No. 3 for furnace linings carried in stock. The Carborundum Conpany, Perth Amboy, N. J. Represented in the Philippines by BOTICA BOIE 102 ESCOLTA MANILA..........,,-.......,, ~,.,'., -.......,.:.,.,.,,-,.,,,.. '... -~~~~~~~~~~~~~~1 United States Bureau of Mines Given Wide Powers There are nine so-called strategic minerals which are essential for national defense in the United States, which include antimony, chromium, manganese, mercury, mica, nickel, quartz crystals, tin, and tungsten. Various measures have been adopted by the government to encourage lproduction of these minerals from domestic deposits, which involve participation by the government in the business of mining to a larger degree than it has ever attempted before. Funds have been appropriated by Congress to the Bureau of Mines and the Geological Survey which will enable the latter not only to study the regions in which the deposits are known to exist-a well-recognized function of the Bureau and the Survey since their inception-but in addition actually to explore promising ore occurrences and to conduct research work on the beneficiation or other utilization of low grade material. This represents distinctly a new departure in established policy for both the Bureau of Mines and the Geological Survey. Discretion as to the location, character, and extent of the exploratory work is entirely in the hands of the two bureaus, comments Samuel H. Dolbear, who was originally a dollara-year expert with the government on defense work. The Geological Survey conducts geological and geophysical surveys, while the Bureau of Mines conducts actual exploration of the deposits by diamond drilling or other means to determine their probable character and extent. At various Bureau of Mines experiment stations studies are made of beneficiation, metallurgical treatment, and utilization of the ores. Where deposits are privately held, the work is done under contract with the own2rs. The terms give the government access to the property and the right to do such work as it deems advisable. The owner is provided with map showing the work done and results obtained, and incurs on inancial liability for expenditures made. In line with this policy, it is ieported that the government is ruahing erection of a 40-ton daily calaacity testing plant for manganese ores in Clark county, Nevada, where considerable low grade ore is indicated. Later on similar tests will be run on mangainese ores from Arizona. The American Chamber of Commerce Jou' al Mayl,:' 16 (

Amateur Investor Encounters Highpowered Geology The Mining Engineer's telephone jangled sharply, the Amateur Investor was asking whether he might consult the engineer on a matter of some importance. Of course, and in reasonable time the investor turned up at the office and drew from his pocket an impressive document. "I have here," he began, "a geological report on a property up Kalinga way that appears to be a wonderful discovery." Cynically the engineer rejoined, 'They all appear to be wonderful discoveries. After you've run down a couple of thousand of them, you begin to be slightly skeptical. Who wrote that?" The investor gave the name, and the engineer nodded knowingly. "I've heard of him, he's a highpowered geologist. He writes a swell report, for those who can understand it, and I doubt he has had a day's operating experience in his life. Well, what does he say property?" about this "That's what I'm not so clear about," said the investor. "I have just a sketchy idea of geological theory, mostly what I've picked up from talking with you, and you've been able at times to make it all pretty plain. But this man is evidently an expert, a real scientist, and I'm away out of my depth when I try to understand what he says." "I've had a hunch," said the engineer, sadly, "a hunch all along that my technique was faulty. I should have given you abstruse technical discussions instead of drawing you a few pencil sketches, and in that way I could have doubled my fees. Well, live and learn. Suppose you pick out some of the least incomprehensible parts of that report and I'll try translating them for you." Skimming down a page the investor read aloud: "'The prophylitization of the rocks in the area shows no sign of dynamometamorphism, and the degree of prophylitization does not increase with approach to the vein.' Does that mean there's ore there?" the investor asked eagerly. "It might," the engineer hedged. "Much depends on its regional character as compared with the associated kaolinization." "Gee!" chortled the investor. "That's just what I thought! Now here's something else"'Pressure is the essential factor to be considered, as autohydration begins at the point where water-free silicates are no longer stable in the water-rich magmas.' That certainly indicates a good prospect, don't you think?" "It's an interesting hypothesis," the engineer conceded, "well worth serious thought." The investor beamed. "This next ENGINEERING EQUIPMENT AND SUPPLY CO. ( INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Shop Tel. 5-67-76 Mandaluyong, Rizal Office Tel. 2-41-41 MACHINERY AND SUPPLY DEALERS Agitators, Thickeners Air Conditioning Equipment Aluminium Castings Babbitt Metals Ball Mills Belt Hooks Blasting Supplies Blowers, Drill Press Bronze Bushings Cable Clips Carbide Lamps Centrifugal Pumps Chains, Winches Crushers, Screens Circular Sawmills Compressors Concentrating Tables Concrete Machinery Concrete Vibrators Conveyors Cutting Machines, Contour Steel Diesel Locomotives Dredges of all kinds Drill Steel Drilling Machines Duplex & Triplex Pumps Electric Motors Electric Tools Electrical Apparatus Explosives Fire Fighting Equipment Flotation Cells Gasoline Engines Generators Grinders Hacksaw Machines Hoists, Chain & Electric Hoists for Dump Bodies Leather Belting Logging Blocks Logging Equipment Magnetic Separators Marine Diesels Mechanical Packing Melting & Tilting Furnaces Mine Hoists Mine \Vood Tanks Mineral Jigs Mining Picks Mining Shovels Nautical Instruments Oil Burning Equipment Outboard Motors Pile Hammers Pneumatic Tools Power Boats Precipitation Equipment Propellers Punches, Shears Recording Instruments Refrigeration Equipment Road Rollers Rock Drills Rotary Filters Saws, Sawteeth Shapers, Lathes Sheet Metal Tools Shovels, Buckets, Cranes Stationary Diesels Steel Tanks Stuffing Boxes Surveying Equipment Thermometers Trolleys Truck & Mine Scales Turbine Pumps Tubular Boilers Vacuum Pumps Valves of all kinds Vee-Belts Water, Oil & Gas Meters Welding Equipment Welding Rods Woodworking Machines Zinc Dust - - -- =:R The American Chamber of Commerce Journa Mall1, 1941 17

paragraph," he said, "is a little obscure to me, though no doubt it is perfectly clear to you"'Megascopically, the higher flows appear to have a less crystalline groundmass, with a larger proportion of phenocrysts, but the texture of the flows is actually sericitic: nearly every section shows bastite pseudomorphs, and the glassy mesostasis has generally crystallized to irregular areas of quartz with patchy extinction.' With conditions like that, I feel practically certain the ore will be very highgrade, though his mention of 'extinction' puzzles me a little." Here the engineer was out for the count, and retained only enough consciousness to call to his messenger, Pedro, please to bring him that new bottle of scotch from the corner cabinet. "Never mind water," he added feebly, "I need something fuerte to keep me from extinction." "Why, what's the matter?" asked the investor. "I've just started.;e sr1 There's a lot more here, about 10 pages, in fact, all along the same line, and it takes your help, believe me! Shall we go on?" "No, not on your life!" warned the engineer as a second swig of restorer gurgled down his throbbing gullet. "Don't go on under any circumstances. You're breaking my heart piecemeal-I guess I can't take it like I once did. You rouse old memories, besides. That stuff all sounds like a thesis I myself wrote, 25 years ago, when I was just out of school and fired with ambition to revolutionize the ancient and honorable science of geology.... when I think of those dear, dead days!" "Yes?" interposed the investor, "Then you've really thought along the lines of this report..." The engineer rallied, a situation had to be saved at all cost. "All I'm interested in these days," he made plain to the investor, "are such humdrum things as samples and assays and length of outcrop. I keep harping on transportation problems and costs, and marketing contracts, and where I can locate a brace of competent capatazes. I keep stewing about stoping costs, and ratio of development expense to the values of new ore exposed. And that reminds me, does this geologist, by any chance, give the returns from any sampling he did on the property?" "No," said the investor, roughing through the report hastily, "I don't see any. But, don't you see?-that's your job. He's a scientist. He has worked out the theory for the ore deposition. All you have to do... "Yes, all I have to do is to find the ore," the engineer cut in curtly. "Then all I have to do is to mine it out at a profit. It's as easy as that!" "I don't quite get you," the investor came back. "This geologist is convinced, as near as I can make out from what he says, that the formation is very favorable. Why, this report of his is the most elaborate thing, in its line, I've ever read. Surely there must be gold there." "But why didn't he take a few samples? Where is his assay map? Where. " The investor was still unshaken. "Just a matter of routine," he said. "I'd like to engage you to go up there and do that-probably take you only a few hours, since he's done all the hard part working out the ore genesis." [Continued on page 21] The American Chamber of Commierce Journal May, 19'l OF course, JACKBITS show decided savings over conventional forged steel, because they drill faster and farther. But, their real savings are the reductions they make in hidden costs. Here's what one Mine found out about its Hidden Costs... 2. Reduced the steel requirements 4. Effected substantial svinqs in bar per drilling machine from 65 steel consumption. Worthwhile savings are easily possible in many mines... the I-R man in your district will be glad to help you get after any hidden drilling costs you may have. Jackbits are produced by men who manufacture a complete line of rock drilling equipment and who know rock drilling business. 1 / 18

The Stock Markets By Ovejero & Hall MANILA-April 15th In the early part of the period under review, investment demand was stimulated by the Benguet and Balatoc first quarter dividend declarations, which were fully up to best expectations. This permitted the market to make some headway but gains were generally of small proportions. Subsequently, preholiday profit taking and less favorable war developments have caused an easier tendency. At the close of business the M.S.E. index stood at 42.56 off 1.60 compared with a month ago. Closing prices of the more active shares compared with a month ago are as follows: during a session reaching the million share level. Market fluctuations as registered by the closing Dow Jones Industrial and Rail average have been as follows: March 15 High Lo, April 15 Change Industrials 123.40 124.65 118.59 118.59 - 4.81 Rails.... 28.09 29.75 27.83 27.95 --.14 One of the main features of the past month has been the consistent firmness displayed by the Rail average. Generally speaking, the reason is that freight traffic has been restored to the highest level in years, plus the fact that the railroads are at least in as favorable a position from a taxation standpoint as any other industry. Some spectacular earnings are being anticipated. An example of this being Southern Pacific Common Stock currently selling around $10.00 with earnings for the past few months running at an annual average rate equivalent to approximately $10.00 per share if maintained. The Industrial Average remained quietly steady for most of the past month but softened during the I ~ ~ ~ ~ ~ ~ M -- - -- 1~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ April 15 Atok Gold...... 26c Benguet Conso.. 3.20 Itogon.......... 15 I X I......... 24 TLepanto........ 14-l/. Masbate......... 9 -Mindanao Mo. Lode 10-1/, Surigao Conso... 18 United Paracale. 13-1/4 Ilarch 1.; 24c 3.50 14-:%4 22 14-1' 9- i/t 20-1/2 15 Change + 2c - 30c + 14c -- 2c Unch. 4 1/4c -- 1- c - -1/2C - 1-3/4c Total number of shares traded from March 16th to April 15th inclusive amounted to 10,256,048 shares valued at P1,038,054.77 compared with 8,408,764 shares valued at P791,897. The sagging tendency which set in about ten days ago reflects increasing concern over the possibility that recent International developments may have more serious repercussions in the Orient later on in the year. In some quarters it is felt that the recent Russo-Japanese Neutrality Pact may encourage further Japanese aggression, with consequent grave danger of war with the U.S. Some apprehension is displayed as to whether the mining industry will be able to carry on normal operations, as, while it is possible to lay in large inventories of essential supplies, this is not altogether feasible in the case of Fuel Oil, besides, there is always the possibility of government requisitioning to be considered. Taking a long term viewpoint with all the reservations which must accompany prophecies these days, we incline to feel that sound mining seculities are so deflated at current levels that the investor runs little risk of capital loss by holding until more settled conditions once again prevail. NEW YORK-April 15th MOTOR-GENERATOR SETS FOR EXCITATION Where more than one generating unit is in use, a motor-generator set of capacity to furnish direct current for ALL the generators will simplify operation and regulation. By using a synchronous motor, Power Factor correction can also be obtained at the same time. THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines Yes, another month has gone past without the volume of transactions P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu I -— I Ir Th.r American Chamber of Commerce Journal ~.1tl, 19.1,1 19

past few days in view of latest world developments. Taking into consideration the generally pessimistic tenor of the news from Europe, the technical market action has been favorable. The invasion of Yugo-slavia, and news of the British reverses in North Africa have caused only small scale liquidation. The publication of the Russo - Japanese Neutrality Pact has, to all interests and purposes, passed unnoticed marketwise. At no time has the market been able to generate any degree of activity on the downside. In fact, looking back over the market pattern of the past few months, it stands out that volume indications have favored the constructive side, and the market action as measured by the Dow Jones Averages, is suggestive of a higher level of prices to come rather than a lower level. If and how this may come about remains to be seen. To hazard a guess, such an event is likely to come from a belated public recognition of the inflationary forces which have been gaining momentum for some time past. So far, insufficient attention has been paid to this powerful factor. There has been a tendency to consider that the govern ment could and would curb a rising spiral, but this still remains to be conclusively shown. We notice from a recent financial column that wholesale prices in the U.S. are nearly 20% above the pre. war level. Labor is forcing wage in. creases, and taxes will be raised fur. ther. Unless profits are to be allow. ed to disappear, this must in time be reflected in rising costs and prices, under these circumstances, cash in the bank becomes a depre. ciating asset, and the net result is likely to be a gradual movement into equities. Unpredictable war developments can have great effect on financial sentiment. This has become noticeable in individual groups recently, particularly in consumers goods industries, where, to cite an instance, Automobile Shares are not acting well. This undoubtedly reflects apprehension that normal peacetime production may be greatly disrupted by the requirements of the Defense Programme. According to Dow Theory, the position of the market has not altered during the past month. The major trend is considered a Bear market. Joint penetration of 111.84 and 22.14 would reconfirm the Bear market, conversely any rise which jointly bettered 138.12 and 30.29 would signal a reversal of the main trend from Bear to Bull. PROTECT THE ENGINES AGAINST WEAR AND BREAKDOWNS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS:x ALWAYS CHOOSE DE LAVAL PURIFIERS THEY GIVE THE HIGHEST DEGREE OF SEPARATING EFFICIENCY Sole Agents Sole Agents I OVEJERO & HALL STOCK, COMMODITY & EXCHANGE BROKERS MEMBERS MANILA STOCK EXCHANGE NATIONAL PRODUCE EXCHANGE NEW YORK COFFEE & SUGAR EXCHANGE COMMODITY EXCHANGE, INC. New York 6th Floor, Wilson Building Juan Luna, Manila Tel. 2-10-51 Cable Address OVERALL, Manila I KOPPEL (PHILIPPINES) INCORPORATED ILOILO MANILA CEBU - - 20 ( The American Chamber of Commerce Journal May, 1.941

I I T. Malmesbury, superintendent of Tuban Mining, that is developing a property 11 kilometers from Macawiwili, has been in Baguio buying additional equipment for the project. * * * Frank Moorehouse, superintendent of Big Wedge, is among men of Baguio who appreciate the restoration of air service between that city and Manila. He flew to Manila recently on company business. * * * Dr. H. Foster Bain and Dr. Quirico A. Abadilla, director of the mines bureau, have been a fortnight in Cebu and Mindanao inspecting mining projects for National Development. onued o page 24] [Continued on page 24] S. T. Stein, manager of Southwestern En-,^cineering, has left Manila and gone back to, the United States for an indefinite stay. * * * Garret Morris, superintendent of the Minnich mine in Abra, spent a brief vacation at Baguio recently. * * * William Perriam, mill superintendent of Lepanto Consolidated, spent the better part of Easter Week at Baguio. * * * P. K. Stone, who has charge of the mine -.ofety station at Paracale, is away to the homeland on vacation. F. Garrido has made a professional visit to Cebu to examine manganese properties there. * * * Don Young, general superintendent of North Camarines, has been in Manila recently. Fred Johnson, general superintendent at Lepanto, has been bedridden at his home by illness during several weeks. * * * S. I. Bowdiitch, a geologist with Benguet Consolidated, has gone to the homeland on leave of absence. * * * Cam Middleton, of the operating staff of Capsay, Masbate, was a Manila visitor in April for a few days. * * * D. H. Gribben, general manager of Antamok Goldfields, is back at the job after 5 months of vacation in the United States. * * * Ward Graham, general manager of Baulio Gold, made the southern-islands trip w'ith his family during a short vacation. * * * Benj. S. Ohnick and Frank Courtney, Marsman executives, were Baguio Easter visitor.s. * * * E. E. McLaughlin, assistant mill superintendent of Itogon Mining, is off for a h1omeland vacation. * * * J. Kane, with Atkins, KrAll & Co., has nade Wn extensive business trip through S8rigao, Cebu and Panay in behalf of his COmpany. * * Fred Feigel, chief accountant of the Mindanao Mother Load company, has left Manila for the United States to enjoy a 3 -month furlough. *.: * INTERNATIONAL- PALMER POWER PACKS-UP TO 50 KW AUSTIN-WESTERN ROAD BUILDING EQUIPMENT CRUSHING PLANTS RUMSEY PUMPS AMERICAN HOISTS CARCO TRACTOR HOISTS LOGGING ARCHES MIDGET SHOP MULE TRACTORS ELECTRIC WHEEL CO.-INDUSTRIAL TRAILERS LANE SAW MILLS INTERNATIONAL DIESEL POWER UNITS DIESEL TRACTORS Write for complete information INTERNATIONAL HARVESTER COMPANY CEBU BACOLOD OF PHILIPPINES MANILA DAVAO BAGUIO LEGASPI Ii 7he American Chamber of Commerce Journal ' 1(y, 7941 21

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940, complete and for the first 3 months of 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. IXL MINING CO. NORTH CAMARINES BAGUIO GOLD BIG WEDGE --- T —7 - 7-7 F ---] -rn~-rilMV ' - Inn'n ibb_ II~~ ~~~~~~~~~~~it~~~~~~~~~~~~~~~fflhI~~~~~~~~~~~~~~~~~~~~~~~~~~~~J~~~~~~~~~~rn~~~~~~~~ - --- - F — ~~~~~~~~~~~~~I~~~~~~~. -_~~~__ _~ I __ = = 0i Ii- - - SURIGAO CONSOLIDATED _IQMj -I __ I,. I- - L ia!- ~~II~r~ --- - _~___:_. -— I - t ~_ ~___ - ~~- ~I — in. ---- - ~ ~ I --

I suYoc COCO GROVE DEMONSTRATION IJ lo -T L I MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAUS I0nnO I -/-\- I I I-, I 20* The Mining Industry -Tabulated Statistics Courtesy-Chamber of Mines of the Philippines FEBRUARY 1941 MARCH 1941 TOTAL PRODUCTION CAPITAL DIVIDEND MINES Tonnage Value Average Tonnage Value Average 1941 1940 Authorized Paid Up 1941 1940 Antamok Goldfields 17,953.3 P 198,060.11 P 11.03 20,492 P 239,671.01 P 11.68 P 437,731.12 P 512,076.08 P3.000,000 r2,750,000 -.01 Antipolo 739 30,042.06 96.09 428 23,936.00 556.92 53,978.08 ---- - Baguio Gold 11,575 182,551.64 33.95 1,269 196,080.92 154.51 378,632.56 561,464.50 2,000,000 1.299,00.01.03 Balatoc 59,865 1,134,109.74 38.07 66,921 1,161,223.08 17.35 2,295,332.82 3,214,914.30 6,000,000 6,000,000.20.70 Batong.Buhay 3,352.8 118,310.39 74.44 4,313 168,489.66 39.06 286,800.05 - - - Benguet Consolidated 36,462 789,329.56 46.70 40,873 918,003.70 22.45 1,036,314.09 2,696,393.42 12,000,000 12,000,000.15.66 Benguet Goldfields 2,087.96 27,904.23 34.41 1,806 33,056.00 18.30 60,969.23 114,024.70 200,000 200,000 - - Big Wedge 5,230 180,071.84 70.96 4,679 182,126.70 38.92 361,198.54 476,883.04 2,000,000 777.612.10.01.04 Cal Horr 7,645 128,590.54 32.02 8,040 130,830.64 16.27 159,421.18 301,900.14 WHOLLY OWNED BY B.C.M. CO. Capsay 5,246 53,614.96 21.63 5,197 58,547.61 11.26 112,162.62 162,692.56 1,000,000 1,000.000 - _ Crown Mines 147.29 2,086.651 38.07 384 4,359.00 11.35 6,445.51 55,142.36 i.o00.Uou 636,000 -_ Davao Gold 3,668 56,671.16 84.64 4,119 93,408.47 22.67 150,079.63 - Demonstration 4,369.75 73,018.98 28.93 5,010 84,633.00 16.89 157,625.98 161,831.94 1,000,000 1,000,000 - - East Mindanao 4,272 73,541.59 34.15 - 1,000,000 920,000 - - Gold Creek 402 5,814.46 39.95 777 19,932.36 25.65 25,746.82 1,000,000 700,000 - - Ipo Gold 5,529 41,736.84 17.77 6,000 61,543.96 10.25 103,280.80 266,901.33 1.000,000 819,693.70 - - Itogon 25,803 447,045.42 34.92 27,086 451,747.15 16.67 898,792.57 1,247,107.24 2.500.000 2.500,000.01.04 I. X. L. 11,487 248,384.18 43.33 12,638 251,790.48 19.92 500,174.66 796,971.04 1,500,000 1,500,000.02.08 Macawiwili - 1,600.000 324.93b.06 - - Mapaso - 1.500.000 429,200 - Masbate Consolidated 97,387 569,063.02 11.63 92,416 533,684.78 5.77 1,102,747.80 1,556,928.12 5,000,000 56,000,000 -.02 Mayon Mining 1,404 23,628.88 43.66 --- - _ - Mindanao Mother Lode 6,304 210,076 00 68.14 7,150 220,662.00 30.86 430,738.00 466,456.50 2.000.000 1,130.000.01.01 Mineral Resources 3,034 57,389 22 35.12 3,810 59,440.05 15.60 116,829.27 66,867.44 2,00o.00o 1,160,149 - -- North Camarines 3,372 74,276.51 45.27 3,306 93,148.87 28.17 167,425.38 587,152.89 1.,000.000 1,000,000 - - Northern Mining 2,307 56,484.77 49.16 2,569 57,062.36 22.21 113,547.13 146,578.76 - - - Paracale Gumaus 6,395 143,679.00 100.90 6,433 158,425.54 24.62 302,1,04.54 362,787.16 500,000 500,000.025.045 Paracale National 1,065 19,086.13 36.52 1,195 22,236.78 18.61 41,322.91 1,000.000 848,600 - San Mauricio 16,109 442,195.86 54.78 17,160 441,818.15 31.56 884,014.01 1,598,694.56 2.000.000 2.000.000 -.07 Santa Rosa 5,149 104,308.89 34.31 5,920 112,519.83 19.00 216,828.72 199,074.34 1,600,000 1,500.000 - - Surigao Consolidated 10,577 236,195.00 42.31 11,757 250,802.00 21.33 486,997.00 462,291.08 1,200,000 1,022.975.01.04 Suyoe Consolidated 7,007 163,372.08 7.01 7,408 179,767.30 24.26 343,139.38 478,514.27 1.250.000 1.2,0.000.006 - Treasure Island 7,245 208,655.76 59.02 8,078 208,431.26 25.80 417,087.02 244,796.50 - --- United Paracale 11,065 292,621.24 52.56 11,018 285,358.06 25.89 577,979.30 763,776.64 1.300.000 1.300.000.01.02 PLACER Coco Grove 325,165 113,584.03 00.07 349,700 163,493.38 0.46 297,077.41 290,860.10 1,500,000 1,500,00.005.015 Mindanao Mining 73,035 52,010.10 1.49 70,980 32,285.94 0.45 84,296.04 ___ - North Mindanao 14,480 13,135.18 1.96 9,859 7,654.74 0.77 20,789.92 44,896.96 - Tambis 31,703 23.263.00 1.16 43,818 19,023.00 0.43 42,286.00 38,737.00 -- - BASE METAL LePanto 11,950 261,807.00 45.07 9,610 227,506.92 23.67 487,313.92 581,777.64 1,750,000 1,050,000 -.085 Rlxbar 3,287.4 115,088.95 82.65 3,499 148,438.39 42.42 263,527.34 134,462.55.01.04 Consolidated Mines 17,300 207,600.00 18.93 8,500 102,000.00 12.00 309,600.00 - - - The value of the gold production of the stock of gold of the United States, which is trial and defense requirements. Any defiWorld in 1940 according to official estim- reported to approximate 22 billion dollars; ciency in domestic mine production can unates was close to 1-1/2 billion dollars, with Copper requirements of the United States doubtedly be supplied by calling upon thp gold at $35 per ounce. Large as this sum for 1941 are estimated at about 100,000 Chilean copper producers, as was done in is, it is only 7 per cent of the total monetary tons per month, which includes both indus- 1940. 7'he American Chamber of Commerce Journal fay. 1941 23

Movements of Mining... Continued from page 21 The marriage of Mrs. Fred Osborne and Mr. Clarence W. Weekley was solemnized at the Marsman offices April 8 in the presence of a large group of their friends. Mr. Weekley is the head of the Marsman metallurgical department. Mr. and Mrs. Weekley will make their home in Manila. * * * Reed Miller, mine superintendent of Benguet Consolidated, has been retained by the government for important work and is therefore living temporarily in Manila. He will be assisted in this assignment by Robert Overbeck, formerly on the staff at the Keystone mine. * * * Judge John W. Haussermann, who heads Benguet Consolidated and Balatoc Mining left Manila on the ss President Coolidge for a vacation of 6 months in the United States where he will be in Washington part of the time arguing in behalf of re. moval of the partial-duty export taxes on Philippine products sold in the United States. * * * Luther Leneck, mill superintendent of Benguet Consolidated, left Manila on the ss President Coolidge for furlough in the homeland, and during his absence from the Philippines his place will be filled by Dr. R. M. Overbeck of Benguet Consoli. dated's technical staff. IL TIDE WATER ASSOCIATED OIL COMPANY Refiners and Marketers of Flying AA Gasoline Tydol and Veedol Motor Oils Mabuhay Kerosene Avon Diesel Fuel Oil =K Amateur Investor Encounters... Continued from page 18 CUMMINS "DEPENDABLE" DIESELS Cummins-Diesel Model HGD-601, Capacity 45 to 50 kilowatts DIESEL GENERATING SETS Alternating Current or Direct Current Capacities from 15 to 100 kilowatts Sales and Service by C.M.LOVSTED & CO. (MANILA) LTD. 215 Thirteenth Street, Port Area, Manila P. 0. Box 1193 Phone 2-35-19 P. O. Bow 1 193 Phone Z-35- 19 A "However," said the engineer, pa. tiently, "you'll find it's a real selling job to raise money on geological theories. In contrast, it's extraordinary how a few good samples make 'em reach for their checkbooks. But, all right-I'll have a look. I only wish I were as confident of bringing back some good samples as this chap is of his ore genesis. Ore genesis! So what? He's worked out a nice theory, a sound one possibly, but apparently he is little interested on the commercial side. You're interested, however, in proving or disproving his theory in a practical sense; you really want to make some money for yourself. Yet you seem to think that sampling that Kalinga project is a job that any man could do, and at the same time it is on assays of those samples that you and your friends are going to 'put it on the line,' and not on the possibility of supergene enrichment, or whatever else he calls it, so the samples had better be right. Am I right, you follow me?" "Sure, I follow you. You're right, the samples are the whole thing, but on the strength of this report I don't see how you can miss bringing back some highgrade." Cocking his amused head toward the ceiling, the engineer recited"And you have found the metamorph, Come to my arms, Jurassic boy, True fissure day! Callee, callay! He chortled in his joy." The investor was perplexed, it sounded like Alice in Wonderland to him, and he said so. But the engineer assured him, "It's always been a favorite handbook for young geologists." Shortly he was throwing his dunnage together for a trek into Kalinga. He hoped at least he could find the place. 24 The Amerimw Chamber of Commerce Jouryna Maw?, 1.941 (

Leal and United States: P4.00 per yet Foreign Suboeriptioun $300 U. S. Currency, per Subcripfton Single Copies: 3 5 centavo WALTER ROBB Editor end Maneger Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. 1. Just Little Things Quite a lot of tire thieving goes on in Manila as well as in the provinces. We hear that if you will arrange it, tire companies will brand your tires on the inside to effect their identification and assist in their recovery should they be stolen. Not a superfluous precaution. * *: When Major and Mrs. Minor Lee Stephens came back to the Philippines from the United States a few weeks ago, via the ss. Roseville, we had opportunity to meet them while they were waiting in town to go on to Dumaguete. Major Stephens is the new manager of Polo Plantation near Dumaguete, in Oriental Negros. It is a coconut project. Major Stephens holds his title from the Philippine Constabulary; when he resigned from the constabulary in 1920, he had been provincial governor of Lanao for a number of years. Since then he has been chiefly employed in plantation management in Lanao, with occasional periods in his home state. He and Mrs. Stephens are from Georgia; they are the type of substantial folk that you find in Mindanao and here and there in the Bisayas, none of whom you meet often in Manila because they are all giving for all they're worth at important jobs. Manila may be the wind and even the strings in the orchestra playing American repertoire in this country, but the productive folk down south are the drums. You really get the beat from the plantations. * * * If you have noticed the clearing away of a couple of old steel hulks and part of an old piledriver from the beach at the Yacht Club cove and that vicinity, the work is being (done by the portworks division of the public works bureau and is not that of some Chinese junk merchant retrieving old iron and steel to market to Japan. We have checked with Mr. A. P. Sylvester, the portworks man. Public Works doesn't know what boats these hulks once were, but guesses, and we do too, that they were gunboats in Montojo's fleet vanquished in the Battle of Manila Bay by Dewey's squadron, May 1, 1898. Some of the Spanish commanders scuttled their ships, others grounded them. A number of the scuttled ships were raised in 1903 and commissioned in the American service, some as gunboats on the Yangtse, while the flagship, the Maria Christina, became a collier. Another hulk lies farther down the bay shore; she may be the Isla de Mindanao, whose commander, the records say, beached her off the Las Pifias shore when she was hopelessly afire. She had just brought Montojo a fresh supply of ammunition from Europe. * * * When Walter K. Perrett of Kalaong, southern Cotabato, was last in town (excepting 2 weeks ago, when he came here again), it was 1930 and the Insular Life and Heacock buildings had just been finished -the old Heacock building that gave-in in the earthquake and made place for the one the town has now. Walter would have been oftener to Manila, only he was developing a I PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SURETY COMPANY OF THE PHILIPPINE ISLANDS executes and covers BONDS Court, Customs, Firearm, etc. Plaza Goiti and Escolta INSURANCE Fire, Life, Marine, etc. P. 0. Box 150 Tel. 2-12-55 T - Armerican Chamber of Commerce Journal av.y, 1941 25

285-hectare plantation of coconuts, Manila hemp, and cattle. He has only 30 more hectares to go now, 255 are planted and producing. The main errand that brought him to town this time was need to buy more wheels at the junk dealers, from oldtime army wagons: he says these wheels make the best carts, and sustain loads that it takes a yoke of oxen to haul. When he got his wheels and saw his dentist, he started right back to Kalaong. The only other journey he'd care to make would be one to a front some place, to fight M. Hitler. Part of his routine at the plantation is keeping store and postoffice. Now who got him to go to Mindanao, when he came back this way from Bangkok with a little capital aid no further desire to add to it by writing life insurance? Here we blush, but with pride. It was we. * * * Of the 12 churches and chapels in Manila's walled city, the Dominican church alone is of the Gothic type. The patroness is of course Our Lady, patroness of the Dominican order. To Dominicans, the Philippines are the Province of Our Lady of the Rosary. Philip II designated Fr. Domingo Salazar Bishop of the Philippines in 1579 when Salazar was in Madrid on some business of the or 4 =4 der after a mission life of 40 years in Mexico. Salazar thereupon started to Manila by way of Mexico with 20 brothers of the order, but only one arrived with him here in 1581, pestilence having taken off the others un. der the tremendous exposures of such voyages. Fifteen others reached Manila in 1587, when a first church, of timber, was built and the image oT Our Lady of the Rosary brought along from Mexico was accomrnodated in it. This edifice lasted (but 2 years, neither structure nor materials being first rate. A second church was inaugurated in 1592, from plans by Fr. Alonso Jimenez accounted a competent architect. This time the material was stone. Fire destroyed this church in 1603, when 260 buildings in the city were burned down. Ten years were now spent in the building of a third church, more handsome and of better design and materials, that fell victim to the earthquake of 1645 that only the Augustinian church in the walled city escaped. A fourth church, richer and handsomer, was now built, after the plans of St. Paul's of London. This was the queen of all Philippine churches, till destroyed by the earthquake of 1863. The present church followed, from plans by Felix Roxas, and was inaugurated with magnificent ceremonies March 18, 1868. For the original site, that had to be filled in and reclaimed from flood, the Dominicans paid P300. The foundations of the fourth church served, with alterations and extensions, for the fifth. *!* * A change of address has turned up in our business department that will interest many of our readers whose ills and aches were assuaged and whose children were helped into the world by Dr. F. W. Vincent. He gives his new address as 67 South Cedar St., Oberlin, Ohio. O-K, Doc, and what about a letter telling all about Ohio? The old address was more rural, RR-1, Shelby, Michigan. * * * A GOOD IDEA -PO IT RIGHT AWAY! PEOPLES BANK AND TRUST COMPANY 605 DASMARI]SAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac. This time when Elmer D. Madsen, treasurer of the Pacific Commercial Company, was getting away by the Honolulu clipper for furlough in the homeland, we chiseled an interview out of him that is a little on the midget order but an interview just the same. Believe us, getting even a tidbit of personal information out of Elmer Madsen is, in our opinion, a feat of no mean order. Here is what we got: A child later christened Elmer D. Madsen was born to the Madsen family, farmers, near Boules, Nebraska, some years ago, 26 The Ameicean Cha/mber of Comm urucrce JourLtla May, 194 (

and this child, now the man who is the subject of this interview, had 2 brothers and 2 sisters. All five brothers and sisters are still living, including our interviewee, and some of them are farmers, but they are not in Nebraska. Elmer D. Madsen attended the University of Nebraska and did special courses at one or two other schools, and came to Manila in 1904 in the treasury department of the Philippine government. He married here. Mrs. Madsen was a teacher in the education bureau. The Madsens have 2 sons, Elmer and William; Elmer did his undergraduate work at Harvard and Father and Mother Madsen will be at Cambridge this June to see him graduated from Harvard Law-that's one objective of this going home business. Mrs. Madsen is at Palo Alto, where the younger son, William, is doing courses at Stanford. In 1907, Mr. Madsen left the public service and joined Castle Bros., Wolf & Sons, forerunners of the Pacific Commercial Company, that dates from 1911. He kept right on with the new company, putting money into its stock, and has been the company treasurer since circa 1936. In this position he has been a credit man, and that of the first order, and of course he has been an executive second only to President Horace B. Pond. He is associated with directorates in the Marsman mining group. A fast game of bridge in which his daring takes his partner's breath away, but rarely his money, has been his hobby for 20 years. That's all, folks! We add on our own account that Elmer D. Madsen is outstanding in the Philippine community. He is a man to tie to, but this takes effort even after you go through a novitiate. * * * For Trade Commissioner Paul P. Steintorf to come to station here from Japan a few years ago seems to have been just the weight required to put over an organization of game fishermen. At any rate, the Philippine Game Fishing Association now flourishes, J. L. Myers president, Paul P. Steintorf vice president, E. J. Deymek treasurer, and Mr. Myers the acting secretary in place of the regular fellow in that post, L. G. Wagner, who with Mrs. Wagner and their family of 5 English Spaniels has hied away to the United States on furlough. Game Fishing had a fishing tournament during the Easter holidays. You should hear the stories; even what gets into the papers would bring the blush of modesty scandal'Th American Chamber of Commeroe Journal "fvy. 1941 ized to Isaac Walton, and it is really regrettable that a modern edition of The Compleat Angler is not coming out, to contain it. However, pictures (you can always blow up those things!) tend to support some of the more guarded tales. This must be the best of all clubs, for folk of vivid imaginations who don't mind sunburn and do really like old-fashioneds and juleps and lusty appetites for dinner. Five boatloads of members were out on the tournament. W. S. Boston had with him on the Marlin, A. C. Williams, H. Kestler, and A. Keller. Jan H. Marsman's yachting on the Maryanne included himself, Mr. and Mrs. F. F. Fairman, Miss Annabelle Newcome, Mrs. Flahaven, and Skipper Hilton Carson. Mr. and Mrs. J. L. Myers on the Peggy M. had with them Mr. and Mrs. Steintorf. The Dos Primos carried E. J. Deymek, Irving Posner, and City Engineer Alejo Aquino. The Gene Wing party on the Chiba found the whole business such a lark that they had gone to grounds unreported at the time this had to be written, April 16, when the Chiba was still at sea. Aboard her sailed Gene Wing, owner, A. S. Heyward, and Frank Liddell-heaven save us! The camaraderie of The Three Musketeers before and after D'Artagnan would be cool unsociability compared to the heydyho on the Chiba, which of course will be back in port with a long log of real and fancied adventurers in time for the checking up for the prizes and the annual meeting and election of new officers. The Boston outfit stands high for prizes, it thinks, with Kestler's lapulapu weighing (on what scales we know not) 712-1/2 pounds, and Williams's sailfish measuring (with a string, perhaps?) 100 inches in length from here to yonder. In the same waters, round by eastern Luzon, the Maryanne group went in for a9k"LI BUYING-POWER - Use INSIDE ADVERTISING itn MERALCO STREET CARSANDBUSES 4,5000,000 PASSENGERS MONTHLY COVERING THE AREA WITH THE HIGHEST PER CAPITA BUYING POWER IN THE PHILIPPINES: CITY OF MANILA, PASAY, SAN JUAN, PASIG. CALOOCAN AND MALABON: AT THE LOWEST RATE PER 1000 READERS OBTAINABLE THROUIH ANY ADVERTISI NC MEDIUM IN THE PHILIPPINES. MANILA ELECTRIC COMPANY 184 SAN MARCELINO TEL. [phone]

quantity and brought in such a cargo, by report, as would supply the Divisoria market of a Friday, though perhaps not quite all day long. The other craft turned to the banks south of Manila, the Peggy M. reelers disdaining to take luck as it came and trying mainly for swordfish. What's another fish to J. L. or Peggy Myers? These postgraduates should be ruled out of the competition on professional grounds; and they probably attended to this themselves by keeping that fixation, swordfish. Treasurer Deymek thinks a 16 -pound tanguingui will get him a prize, but we don't. Just wait for the Chiba! Deymek has been altogether premature in his claims. Let 'em troll, let 'em reel, let 'em strike. But please make ours filet de sole with a pale Picardy wine. community slothful (the Spaniards' own report of it) and unenterprising, only waiting idly from season to season either for the loading of a galleon or the receipt of the silver. But besides all that, it kept the community here and kept the Philippines Spain's. ready to stand on its own feet, a galleon depot at Acapulco or Porto Bello or Vera Cruz was no longer needed or desirable. This sort of thing the colonizing countries of Europe had always feared, England as well as Spain; namely, that the colony would become so resourceful economically as no longer to be de. pendent on the mother country, when it would surely break away. From this viewpoint, the Spanish crown had winked with wisdom at the li. cense and liberty always practiced in the galleon trade. It had all served to keep the Philippines dependent on the galleon, the king's ship, and therefore dependent on the king. The passenger rates may be interesting, PI,000 from Acapulco to Ma. nila, P1,500 from Manila to Acapulco, But there was often need to build up the Manila colony, and likely volun. teers for the garrison or the king's general service got free passage. It was preferable that this recruiting be from the Peninsula and not from Mexico, the governors believed, because the peninsulars would feel themselves more directly bound to the welfare of the crown than would the creoles from a distant and querulous viceroyalty. Fees were costly homeward bound, for decent space in which to live, and food enough to subsist life, so that P4,000 was no un The Old time Galleon... Commodore George Anson with the British 60-gun Frigate Centurion takes the silvercargoed galleon Nuestra Senora de Covadonga off Cape Espiritu Santo, 1743. See text. Continued front page 13 the galleons, not into the Philippines, but off into China. Instead of rousing the Spanish community to bestir itself and develop Philippine industry and commerce, in which event mining would unquestionably have turned up favorably, it made the It had of course to be abandoned when the American colonies one after another broke with Spain and founded independent governments. When a country did that, it was - "THE GAME OF A THOUSAND THRILLS" T Jaifp Alai EVERY IIf NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM *4 BARS * CONTINENTAL CUISINE m * SPORTS A_ * GYMNASIUM Air Conditioned For Your Comfort:u I ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALLAMBRA: I I Dt I I I - = --- 28 ( The American Chamber of Commerce Jourkd May, 1941

I usual outlay on that interminable voyage. All men under the sun made up the crews, but the most reliable men, and the least paid, seem, by consensus of report, to have been Filipinos. They too often managed to have an interest in the cargo, and to enjoy a heyday at the Acapulco fair. The galleon trade had begun to be supplemented in the Philippines 35 years prior to the return to Manila of the last galleon from Acapulco in 1815. In 1781, Governor Basco y Vargas had put Philippine tobacco under a state monopoly that lasted just a century and began making the treasury a considerable local revenue. There was also founded about that time the Royal Philippine Company in which the progressive Charles III himself took a large capital interest and reserved 3,000 shares for Manilans. This opened Spain to free commerce with the Philippines; though it left the galleon trade as it was; Royal Philippine also traded to Mexico but took no cargoes from the East to the Americas, not even to Mexico. It was a misfortune of the venture that it was a royal company, since the day of private enterprise and laissez faire had dawned and private initiative would have had more success. However, the early years of this company were profitable; its ships carried artisans free, if they desired to settle in the Philippines, and it devoted capital to economic enterprise in the Philippines. This company's efforts, naturally tending to abate the galleon business, were abetted by the Friends of the Country whose society had the same objective; namely, the agricultural, industrial, and commercial development of the Philippines. By this time, therefore, Spaniards were finding their way to the Philippine provinces and acquiring plantations for the products staple in Philippine exports today: sugar, copra, Manila hemp, tobacco; and in those days, too, coffee, cacao, and indigo. Chinese general stores developed nearby such communities, and were means of credit for planters as well as ready purchasers of plantation products. The period was also, in general, contemporary with the Napoleonic wars, when victorious Britain could, as she did, constrain Spain to open the Philippines to foreign residence and world commerce. This brought factors to live in Manila, Cebu, Iloilo, Jolo, and other ports, and branches in the Philippines of the prosperous China-trade houses, British, American, and others. Now the galleon trade of a few million pesos a year was of slight significance, and China goods reached Mexico and all the Americas without passing through Manila at all. The United States had burgeoned into militant nationhood, and American ships were coming to lead the commerce of the world on all seas. Even The John Company was playing out, in favor of free commerce and such ports as Manila, Singapore, Hongkong and Shanghai. The noble galleons ceased to ply the Pacific. The most gallant chapter in man's maritime history closed, having endured so long not only because of the "courage and faith of the men who sailed and shipped on the gal leons," to quote William Lytle Schurz in The Manila Galleon, "and to the paradoxical wisdom of a government that winked at the violations of its own laws in order to promote the larger good of the whole empire, but to the vitality inherent in a trade, all of whose natural foundations were so sound and strong." When the galleon trade closed in 1815, the modern era in the Philippines had already begun and in the rising resources of the archipelago could be seen the day when it would bid the motherly Peninsula adieu with as little ceremony as had the Spanish colonies in America. Weal QUALITY BUILDING MATERIALS ~ CERAMIC FLOOR and STAIR TILES GLAZED WALL TILES MARBLE TILES STAINLESS STEEL GLASS - all kinds ASBESTOS "fteait" and " twoie PLAIN and CORRUGATED SHEETS "tetit Canateawe IN VARIOUS COLORS FOR PARTITIONS, CEILINGS, TABLETOPS, etc. i 11 I;~~~~~~~~~~~~~M::Civil J:~~~~~~~~~~~~~~":: III ffClSS" l, INVISIBLE HINGES ~ ---- ~ -M. VERLINDEN 31 Escolta -:- Capitol Building P. 0. Box 123 -:- Tel. 2-10-90 MAN ILA The American Chamber of Commerce Journal M 94, 192 29

thy families would remain in the Philippines, and of course, the Chinese mercantile community born of the galleon patronage. It only remains to say that very early in the business Spaniards were prohibited from going to China for goods, and that the bringing of goods from China to Manila was made, by the king's own order, a Chinese monopoly. To participate in the more lucrative end of the traffic, that between Manila and Acapulco, Chinese had recourse to Spanish friends. Readers who recall this magazine's Old Manila stories based on the late Percy A. Hill's notes from the chronicles, may remember the term senas in descriptions of the voyages of the galleons eastward. We have saved this picturesque fillip of the voyages for a closing mention. Longitude had to be estimated by dead reckoning. The senias on the waters gave the anxious pilots the first intimations that they were approaching the California coast. Farthest out, hundreds of leagues from shore, the fungous aguas malas would be seen, and at 100 leagues or thereabout, seals at play and on the hunt, and then would come kelp, and finally rafts of floating grass. Now the ship could veer southward for San Blas and Aca pulco, her awful trials were nearly over with. Matters were better ar. ranged after the California missions were founded, when fire signals told the story and added whether enemies were in waiting. The galleons could signal back, also, that they would make a landing and put their sick ashore. Off from a headland would go a single rider, with relays ready for him, to hasten to the viceroy in Mexico the welcome news that the nao was heading in for harbor. If there had been a landing, he would carry with him a copy of the ship's papers, but still the viceroy would await the original papers from Aca. pulco, and these being examined and approved by the corresponding of. ficials, the viceroy would announce the period for the fair. Passenger lists westward were of course much longer than those for the eastward voyages: not all who came out to the Philippines were to be enriched and fortunate, and to make their way back. Hill always argued that it was the nutritive and keeping qualities of the Mexican chickpea, the garbanso, though toward the end it might be aspen with grubs, that made the eastern voyages possible. We think this very probable. OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. IF ADVERTISING -A SERVICE TO YOU Advertising renders an important service by bringing to you the show windows and price tags of the world. In the columns of the BULLETIN all through the year, you can discover and consider the things you want to buy. Thus you need not search through a hundred shops or pay more than you should. The rule of advertising is simple. The more people know about the merit of a product, the more people buy it. The greater the volume of sales, the less it costs to manufacture. Savings in producing mean either lower prices to the consumer or an even greater value the next time you buy. This saves you money. So advertising is more than a means for selling goods-it's a service to you! I - - 30 The American. Chatthcr of Go-nmerce Jolsofn May, 1941

Sugar Market Report (March 16th to April 15th, 1941).-.- ----.. By Warner, Barnes & Co., Ltd. (n March 19th, the Secretary of Agriculture in Washington announced an increase in the U. S. sugar import quota of 235,072 tons, bringing the total 1941 quota to 6,851,889 tons. This announcement caused a sharp fall on the Exchange, but the drop was rapidly recovered on an announcement from the A.A.A. that the quota increase was not meant primarily to hold price advances, but was a necessary adjustment to offset increased consumption. After further consideration, members of the Trade generally regarded the increase as being reasonable, and there was continued business throughout the second half of March at prices ranging from 3.33~ up to a high of 3.45~. At the end of the month, however, a warning was issued from Washington that quotas would be further increased if prices became too high, and this was followed by criticism from the National Defense Advisory Commission on using an anticipated shipping shortage as a basis for advancing prices. Newspaper publicity given to these announcements caused profit-taking on the Sugar Exchange and led to heavier offerings of raw sugar. Declines consequent on these moves were not drastic, however, buyers still being willing to pay 3.35~, while sellers held for higher prices. During the whole of the first half of April, the New York sugar market continued very quiet, with sellers unwilling to reduce their ideas while buyers held off, although a little more interest began to be shown by refiners, with small transactions in Cuban and Puerto Rican sugars being reported at the parity of 3.40~ duty free. No sales of Philippines were reported from March 26th to April 15th. On March 24th, refined sugar prices were advanced to 5.10~, but withdrawals at the higher levels have been disappointing and this, combined with strikes in certain plants, has caused refiners to hesitate before making further raw commitments. Quotations on the Exchange fluctuated as follows during the period: July........... 2.39q September...... 2.410 January 1942... 2.40c March "... 2.42C 2.540 2.570 2.530 2.560 2.390 2.410 2.400 2.420 Reported sales of Philippine sugar during the period amounted to 28,650 long tons at prices ranging from 3.35' to 3.45~, and resales to 17,500 tons at 3.33~ and 3.38~. In sympathy with the firmer market in New York during the second half of March, local exporters paid prices ranging from P4.70 up to P5.00 per picul during this period; only limited business has been reported, however, since operators are restricted to buying for available space. During the first half of April, there was very little business reported locally in export sugar, although there has been intermittent buying at P5.00 per picul. The Conference minimum rate of freight for sugar has remained unchanged at $22.00 per ton throughout this period, but bookings are reliably reported at $25.00. There have been further unconfirmed rumours of around $30.00 having been paid, but these stories appear to be founded on owners' ideas rather than on actual fixtures. The domestic consumption sugar market was a little firmer and sales have been reported at up to P4.30 per picul, although a rather easier tone became apparent by the middle of April, due to heavier arrivals from the provinces. Quotations at the close of the period were about P4.15 with P4.20 possibly obtainable. Exports to the United States during the month of March continued fairly heavy, amounting to 100,670 tons centrifugals and 2,460 tons refined. Total shipments from November 1st, 1940 to March 31st, 1941 showed that nearly half the centrifugal sugar quota has been shipped, shipments up to that date being more than 100,000 tons in excess of ship: ments at the same time the previous year; details are as follows:Centrifugals.............. 388,886 tons Refined.................. 14,331 " Total................ 403,217 tons IL 6 GOOD NEWS... AND HOW! "Hello, is that you Juan?... I've got good news for you... I've just landed the contract for that bridge... And did I have a scrap getting it The funny part of it all is that I wasn't the lowest bidder. I got the award because I was bonded by a good insurance company-The Philippine Guaranty Co., Inc. I'll be right over to tell you all about it!" No important contract is awarded by the government for any purpose whatever unless the bidder furnishes a surety bond. Not only is bonding a required stipulation of the government, but private business enterprise as well. The Philippine Guaranty Co., Inc. has a bond to meet nearly every requirement. It has been the bulwark of thousands of important business undertakings, requiring bonding, for nearly twenty-five years. Why not call up The Philippine Guaranty Co., Inc. or write when in need of a bond. There's no obligation. ^ PHILIPPINE GUANRINTY C0IW ' INSULAR LIFE BLD6. TEL. 2-2 4 31 P.O.BOX 128 MANILA, PHILIPPINES |ifA_ _i~ii^^^~^ _ _Cu~3jZ^^^^ \^h^^^e iC~SW 4 Low Marhh.......... 2.324 May........... 2.36~ High 2.43~ 2.52~ Latest 2.38~ MENZI & CO., INC. THE AMERICAN CHAMBER OF COMMERCE JOURNAL Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign t MANILA Iloilo Cebu IMPORTERS E SHIPPING IN Cable Address "CASAMENZI" Davao PO R T E RS S U R A N C E II he American Chamber of Commeree Journs May, 1941 31

Coconut And Its Products (Report for the month of March, 1941) By Kenneth B. Day & Leo Schnurmacher The general average of the copra market during March was considerably better than during the preceding month. Considerable quantities of copra and oil were sold to China and Japan at substantial premiums over the local market and these sales had a strenghtening influence. The tightness in ocean space continued, especially for copra, and while United States prices were attractive for spot positions, it was impossible to take advantage of them because of lack of shipping space. During March, there were several cancellations of Kenneth B. Day bookings previously and Pacific coasts, both by reason of the withdrawal of vessels from their accustomed run and from orders to substitute cargoes on the priority list for copra products previously booked. COPRA-Arrivals in Manila continued heavy, being 24% under the record arrivals of February, but 8% over the arrivals of March, 1940, and higher than March arrivals of any previous year of record. Arrivals in Cebu were comparatively light, ENI TOY made to the Atlantic Leo Schnurmacher being 14% under last month and 34% below March of last year. Manila was the best market in the Islands and attracted copra from ports in the southern provinces which normally ship to Cebu, and Cebu exporters were unwilling to bring copra into that port because of their inability to secure space for export shipments. It would appear, therefore, that provincial stocks in the Manila district are being gradually reduced while in the Cebu district they are building up, even at this season of light production. The market opened with buyers at P4.60 resecada with sellers holding for high prices. The market rose until March 20th when P6.25 resecada was available. Reports of the imminence of an embargo on shipments to non-American destinations produced a reaction which carried prices down to P5.25, and the month closed with the market steady at that level. The Pacific Coast market for copra rose steadily from $1.90 to $2.80 with little business realized. Only shippers who were fortunate enough to have space in hand were able to take advantage of the rise. Exports were fairly light, with nearly 20% of the total exports going to China and Japan. Statistics for the month follow: Il: Here's how to get Manilas! Genuine Manila Long Filler Cigars in Cellophane are obtainable in your city or nearby! List of D i stributors furnished upon request to — I ALL SUMMER LONG Cooling breezes can be yours at the touch of a switch when your home is air-cooled with General Electric Quiet Fans. Decide now to be cool and comfortable. G-E Fans are inexpensive to buy, economical to operate. Stop in at our store today. - D Arrivals: M anila.................... C ebu...................... Pacific Coast.............. Atlantic Coast............. Gulf Ports................ China and Japan.......... Sacks 505,379 328,699 Tons 6,410 2,008 6,685 3,484 PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tob icco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". Total.............. 18,587 Beginning End of Stocks on hand- of month month Tons Tons Manila.......... 47,247 51,549 Cebu............. 40,711 37,608 COCONUT OIL-Following the improvement in prices of domestic fats and oils in I Dealers: vfrim yse suaply Co. ie, ceeu: Pr-y Xetrte Commuy I., Inoo; TrMidad Gare Tirepomrlaor )e.. befI; f"ed's I*So LBory. Bso. Wesr Oaede.ct Mr. AUlo d -l. Ld la -. Cotabr L & ft w Ga. P J. Cea,. Cow. bIaa lam1a. son &A O. I se. &i m. a w I m ( 32 The American Chamber of Commerce Journal May, 1941

the United States, coconut oil advanced from 314 cents at the beginning of the month to 4 cents c.i.f. Atlantic Coast at the close of March. Premium could be secured for spot shipments at any time during the month, but practically no advantage of this condition could be taken. It will be noted that shipments of coconut oil to the United States were very light; 25%o of all shipments going to China and Japan. Statistics for the month follow: Pacific Atlant China Tons c Coast.............. 2,733;ic Coast............. 7,256 and Japan.......... 3,302 Total............... 13,291 Begining End of hand- of month month Tons Tons a and Cebu.. 18,152 24,352 tons; an all-time record, more than double the shipments of February and 154%o over shipments of March, 1940. The market for desiccated coconut in the United States is improving with the general betterment in market prices, and all desiccators are working at full capacity. To date the space situation does not appear to have hit the desiccated coconut business quite as bad as it has other coconut products, but space is becoming increasingly difficult to obtain. Since March is a period of comparatively low production, the desiccators are taking all the nuts which can be transported economically to their plants. GENERAL-The month of March showed general advancement in values of coconut products although present prices are still under probable cost of production. The coconut harvest was light throughout the Philippines during March, which is normal for the period of the year. Apparently, prices will be maintained during the period of low production, but when the heavier production comes in during June and later, the scarcity of shipping space will very likely make it impossible to move sufficient of the crop to keep up prices in the Philippines. At least two prospects for establishing a steel industry on the west coast of Chile are now being seriously considered. It is reported that a steel plant is to be built in Chile, with a subscribed capital of 16,000,000 pesos, which will produce 3,000 tons monthly of good grade steel by the electric furnace process, as coking coal is lacking. Electric power will be obtained from a 16,000 K. W. plant on the Rio Blanco. A second project with a capital of 40,000,000 pesos is being backed by Chilean and Japanese interests and proposes to establish an iron and steel industry around the port of San Antonio utilizing huge deposits of metallic sands rich in iron. Stocks on I Manilh COPRA CAKE AND MEAL-There was considerable space contracted for shipment of copra meal to the United States which was withdrawn during the month and practically no business could be done on account of scarcity of shipping space. The Pacific Coast market advanced to a nominal price of $25.00 per short ton c.i.f., but local crushers were unable to take on commitments because of lack of space. Statistics for the month follow:Shipments: Tons Pacific Coast.............. 7,151 Beginning Stocks on hand- of month Tons Manila and Cebu... 13,486 End of month Tons 15,939 The Padcal mill of the Heald Lumber company in the Benguet region burned down 3 weeks ago and the damage had not been thoroughly ascertained at the time this note was written, April 22. For one thing, the tramline is out. Because the area has been largely cut off, this mill may not be reconstructed; mining operations are not affected in any way, because timber is obtained from numerous other mills. Heald Lumber is a subsidiary of Benguet Consolidated. DESICCATED COCONUT-Shipments of desiccated coconut were 6,396 metric for a GIFT... Nothing is too fine for gifts or for yourself-and SHEAFFER'S are the finest of their kind. Complete \ selection for executives, professional men, and students. Ask for the LIFETIME pen. *Guaranteed for life. Matched with the new permanently sharp FINELINE pencil SHEAFFERS Pik I_4!.forYOURSELF I RIZAL PORTLAND CEMENT "The Builders' Choice" The CEMENT that insures maximum strength in minimum time and cost; backed by guarantee of satisfaction in product and in service. STRENGTH - BEAUTY - ECONOMY are the outstanding qualities of RIZAL CEMENT MADRIGAL AND COMPANY 8 M. del Banco Nacional Phone 2-19-62 MANILA:4 LIFETIME Dry-Proof Desk Set For Home or Office. Beautiful Gift. W.A. SHEAFFER PEN COMPANY Fort Madison, Iowa, U.S. A. 45 Pens $3.00-Up SOLD EVERYWHERE Distributors LEVY & BLUM Oceanic Commercial Inc. 35 Plaza Sta. Cruz, Manila The American Chamber of Commerce Journal lay, 1941 33

L I Southern Islands CPuises Cebu-Dunlaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P99 NINETY-NINE PESOS P99 Sailing Every Thursday New m/s. Elcano —m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 Export Statistics (February, 1941) By Associated Steamship Lines The total Revenue Tonnage figures for February 1941 are 321,649 Tons, for a total of 84 sailings. Compared with figures for the month of January; 1941, the tonnage shows an Increase of 21,843 tons. SUGAR: Boles Total Bales February........ 110,262 Total Bales January......... 79,767 Increase.................... 30,435 LOGS & LUMBER: Distributed as fol. lows: Bdft. China & Japan.......... 12,748,497 United States........... 2,873,136 Europe........... 1,995,438 Misc. Ports............. 21,624 Bdft. Total Board Feet February 17,638,695 Total Board Feet January. 19,391,916 Decrease.................. 1,753,221 ORES: Distributed as follows: i Centrifugal/Raw............ Refined...................... Total February............... Total January................ T- Tons 77,072 3,707 80,779 26,732 Increase.... ---- ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) COCONUT follows: Desiccated Coconut Coconut Oil Copra Copra Cake & Meal PR( U S................. 54,047 United States )DUCTS: Distributed as Ts Tons Copper 'nited Misc. Chrome 25,100 states Japan Europe Ports Iron Tons Tons Tons Tons Manganese 5,573 58 -- W,44 3,281 - 25100 China & Japan Tons 5,700 15,219 78,509 99,428 Europe Tons Misc. Ports Tons 18,824 4,825 - 5,900 3,754 2 - 37,495 8,166 - 5,900 Tons Total Tonnage Total Tonnage Tons February..... 124,528 January...... 151,209 Decrease.................... 26,681 CONCENTRATES: Distributed as follows: Total Tonnage February...... 51,561 Total Tonnage January...... 54,4'7 Decrease..................... 2,876 United States Tons 157 66 China & Misc. Japan Europe Ports Tons Tons Tons 1 HEMP: Distributed as follows: China & Japan............ United States.............. Europe..................... Misc. Ports.............. Bales 44,973 44,500 13,304 7,485 Copper Gold Lead Zinc 223 SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast and Gulf Ports, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K" LINE Express Service to Atlantic Ports (Philippines to U. S. Atlantic Ports via Panama) I INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents t. 1. LStL, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 Trade Commerce Bldg. 2-15.21 Tls. 2-15-22 2-15-23 MANILA 34 The Amerncan Chambet of Commerce Journdl May. 1941 (

Tons Total Tonnage February........ 223 Total Tonnage January......... 618 50 % of the entire year's quota. Comparative figures of shipments are: Rawleaf, Stripped Tobacco and Scraps March January-March January-March 1940 316,710 1941 1,343,151 1940 756,314..... 395 I)ecrease................. OTHER COMMODITIES: TONS SHIPPED Feb. Jan.. CIGARS: Comparative figures of cigar shipments to the United States are as follows: Australia...... China.......... French Indochina Incr. Deer. Hong Kong New Zealand.. - 25 United States.. Kilos 2,813 73,350 106,200 3,519 950 346,579 533,411 341,727 March 1941 February 1941 March 1940 January-March 1941 January-March 1940 Cigars 19,394,297 11,290,885 19,910,784 32,722,222 48,848,860 Leaf Tobacco 1,031 Cigars & Cigarettes 755 Rope Shipment 774 Embroideries 256 Kapok Furniture 1,488 1,056 130 625 March 1941 February 1941 The 1941 quota for Philippine cigars in the United States is 190,000,000. 784 61 971 145 5,417 - 10 195 Gums Molasses Vegetable Lard Mar 104 1,310 517 - 41 - 4,107 b I * p 1n IL __ garine 672 Other Commodities not 861 189 listed above 7,638 7,014 Increase..................... 624 Tons SUMMARY OF TONNAGE DURING FEBRUARY, 1941 Honolulu U.S.A. Pacific Local " Pac. Overland Atlantic Gulf Pacific Coast Canada Atlantic Coast " China Japan N. E. Indies Straits India Europe Australasia Africa West Indies, Central America, South America Feb. 1941 Tons 636 24,157 2,658 120,466 10,918 102 44 21,540 128,551 296 5,715 6,090 13 45 Feb. 1940 Tons 501 29,791 1,475 95,099 5,148 56 138 4,938 57,051 120 824 10,311 1,942 1,602 SAN FRANCISCO - LOS ANGELES via Hongkong, Shanghai, Kobe and Honolulu Taft............ Cleveland....... Coolidge........ Taylor.......... Pierce.......... Taft............ Cleveland........ May 17 June 3 June 14 June 16 June 22 July 6 July 20 NEW YORK - BOSTON via Singapore, Penang, Colombo, Bombay and Capetown 418 123 Total number of sailings during February, 1941-84 vessels of which 23 were American vessels. SS Pres. Garfield..... *SS Pres. Taylor...... SS Pres. Monroe..... *SS Pres. Madison..... SS Pres. Jackson..... SS Pres. Grant....... *To Singapore & Penang only. ~~~~ ~~~ ~~~~ ~~~~ ~~ May 22 May 28 June 3 June 16 July 15 July 23 Tobacco Review (March, 1941) By Alhambra Cigar & Cigarette Mfg. Co. TOBACCO: The dry weather continued during the month in most of the tobacco growing provinces. As a consequence thereof the quantity of the 1941 crop is estimated to be substantially below 1940. The total of the first quarter 1941 tobacco Shipments to the United States is nearly The American Chamber of Commerce Journal May, 1941 35

Foreign Exchange Review (March 16th to April 15th, 1941) By J. Rapoport The last part of March being the end of the first quarter witnessed a fair volume of interbank business in dol attract as many buyers as before at 1/2% pr. There were also noted several fiveand six-month change-overs at even rates, i.e.; without any penalty for the buyers of ready dollars. The tendency of the dollar-peso rate continued steady in general, though appearance of large dollar offerings on behalf of the mining companies who were providing money for the payment of quarterly dividends, and the general reluctance to part with cash before the end of the quarter, caused on several occasions easier undertone. Thus, there were recorded isolated transactions in ready dollars at 7/16% premium. Though the cash position of most of the banks appeared to be fairly strong in the beginning of April the dollar rate continued to show sign of easiness. This may also be attributed to a rather brisk export trade and appearance of export paper for which ready pesos had to be provided. Pressure on spot dollar rate has also been caused indirectly by banks wishing to shift their dollar position forward five or six months, thru simultaneous sales of ready and purchases of November-December delivery. Fairly large change-overs were thus booked at even rates and in some cases at 1/16% difference in favour of buyers of prompt dollars, the latter being done in conjunction with sales of prompt dollars at 7/16% premium. At the close of the period under review the interbank rates were as follows: sellers of ready dollars at 1/2% pr., buyers at 7/16% pr. For 5 and 6 month forward dollars 1/2% pr., was the business rate. Merchants rate for clean T/T-5/8% pr., over the counter-3/4% pr., retiring bill rate 7/8% pr. Sight L/C-1/4% pr., 60 days sight L/C-par, and 60 days sight D/A-1/8% discount. It was generally expected that cash position would continue rather tight with sales taxes and income taxes falling due in the near future. lars at around the same rates as in the preceding fortnight. S p o t dollars were continuously 2, _ booked at Y2 % premium, though at times sellers were dominating the market, while future dollars continued to Ih Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions Real Estate By P. D. Carman Boulevard Heights.... tnManila real estate transfers in the first quarter _~ "'"~J A _ ', '~-,of 1941 total led P4,139,100 as compared w i t h Mrh-1 P9,194,539 during 86;_ al nthe same period of last year. Sales in January 1940 were, how-;,a ~ _jever, far greater than in any January on record I so that the general trend can perhaps be best compared in the figures for February and March-1940, P2,904,872 and 1941, P2,890,865; a very small difference. Strongmaterial building construction, probably due in part to increasing costs of imported materials, is far behind in the first two months of 1941, P1,302,460 as compared with 1940, P2,213,840. I SIMMIE & GRILK Phone 2-16-61 MANILA Port Area I~~~~~~~~~~~~~~~ L~eacLai incz 16887.... I in J LITHOGRAPHY * P PAPER BOXES * BOC CALENDARS & NO AUERMANN, Sta. Cruz....... Sampaloc........ Tondo........... RINTING Binondo......... San Nicolas )KBINDING Ermita......... IVELTIES Malate.......... Paco............ Sta. Ana....... Quiapo.......... 77 San Miguel Sta. Mesa....... Pandacan....... Sales City of Manila 1941 February March P 286,034 P 396,638 152,151 138,638 54,260 99,423 68,800 15,587 20,926 36,541 28,000 270,905 277,469 109,588 254,390 66,313 113,216 57,009 76,639 22,269 17,869 28,000 269,402 1,712 19,317 9,769 P1,638,473 P1,252,392 C ARMELO & 13 TWENTY FIFTY SEVEN AZCARRAGA * MANILA * PHILIPPINES f 36 The Ampersan Chamber of Commerce Journl May, 1941

GoMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING MARCH, 1941 WITH FEBRUARY, 1941, AND THEIR AVERAGE FOR THE LAST EIGHT MONTHS COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORTS DURING MARCH, 1941 WITH FEBRUARY, 1941, AND THEIR AVERAGE FOR THE LAST EIGHT MONTHS Groups of exports March, 1941 February, 1941 TOTAL EXPORTS.......... Animals, edible, total............ Meat products, total............. Fish and fish products, total..... Animal products, inedible, total.. Other animals and animal products, total........................... Grains and preparations, total.... Veoetobles and preparations, total Fruits and preparations, total..... Nuts, total...................... Coconuts, coconut oil, copra, and other coconut products, total... Cacao and coffee, total.......... Sugar and related products, total Beverages, wines, and liquors, total Gums and resins, total.......... Herbs, leaves, and roots, crude, total Oils, other than coconut, total... Rubber and manufactures, total.. Plant dyeing and tanning extracts, total.......................... Seeds, total..................... Tobacco and manufactures, total.. Miscellaneous plant products, total Fibers and manufactures, total... Cotton, textiles, embroideries, and miscellaneous fiber products, total Logs, timber and lumber, total... Wood, bamboo, reed, and rattan manufactures, total............ Minerals and metals including gold and silver, total............... Medicinal and pharmaceutical preparations, total................ Chemicals, total.................. Explosives, total................. Soap and toilet preparations, total Miscellaneous, total.............. Foreign merchandize re-exports), total........................... (Pesos) 30,891,853 991 49,766 79,831 2,648 75,948 2,550 424,362 13,041 3,792,396 1 9,380,720 18,732 38,163 4,500 12,670 39,417 53 655,630 96 3,412,553 832,088 644,151 97,121 9,460,237 1,540 13,703 27,028 70,302 1,741,615 (Pesos) 26,431,915 35,132 42,124 2,885 5,450 7,169 855 3,259,653 8,368,329 22,522 30,767 949 75,753 135 598,724 7,985 2,238,746 723,777 659,761 67,030 8,275,212 11,648 3,843 2,649 68,148 922,669 Average per month July, 1940 to Feb., 1941 (Pesos) 25,461,263 501 133 37,886 53,440 66 3,816 3,767 258,028 40,824 3,396,778 1 7,185,790 35,310 36,525 4,574 3,593 90,803 5 259 808,423 1,613 2,650,654 855,396 690,853 56,273 8,309,139 3,308 15,684 25 13,309 70,396 834,101 TOTAL IMPORTS........... Animals, total................... Meat products, total............. Animal oils and fats, edible, total Dairy products, total............ Fish and fish products, total..... Other edible animal products, total Animal products, inedible, total. Other inedible animal products, total............................. Grains and preparations, total... Vegetables and vegetable preparations, total.................... Fruits and fruit preparations, total Nuts and nut preparations, total. Vegetable oils and fats, edible, total............................. Cocoa, coffee, tea, total......... Spices, total..................... Sugar, molasses, syrups, total.... Beverages, wines, liquors, total.. Rubber and manufactures, total.. Gums, resins, oils, total......... Roots, herbs, barks, etc., total... Tobacco and manufactures of, total............................. Seeds (Except oil seeds) and nursery stock, total............... Miscellaneous vegetable products, total........................... Manufactures of straw, rushes, and palm leaf, total........... Textiles, fibers, and manufactures of, total....................... Wood and manufactures, total... Cork and manufactures, total.... Paper and manufactures, total.... Non-metallic minerals, petroleum, etc., total..................... Metals and manufactures of, total. Chemicals, drugs, dyes and medicines, total.................... Fertilizers and fertilizer materials, total........................... Explosives, fireworks and ammunitions, total.................... Pigments, paints, and varnishes, total........................... Soap and toilet preparations, total Miscellaneous, total.............. (Pesos) 25,318,572 9,888 238,796 2,128 1,103,756 540,522 13,794 494,064 31,792 1,347,346 349,906 235,200 11,686 36,312 554,328 10,404 135,206 156,732 986,916 71,996 102,392 2,170,268 6,712 35,866 5,036 6,324,402 63,372 3,912 1,208,508 1,882,948 4,752,2,60 1,048,178 68,934 188,296 248,620 282,890 596,206 Groups of imports March, 1941 February, 1941 (Pesos) 14,024,092 3,920 82,390 1,586 579,202 466,870 2,640 280,344 9,396 890,746 286,960 209,748 8,630 31,664 464,444 4,866 126,636 76,944 263,674 34,630 67,198 682,344 4,222 31,988 5,110 2,977,246 66,642 1,060 915,458 1,568,010 2,692,824 448,890 59,888 18,838 85,926 190,532 395,246 Average per month July, 1940 to Feb., 1941 (Pesos) 20,262,887 11,959 188,025 2,471 835,907 206,560 22,985 272,866 16,669 1,034,153 359,608 278,684 16,173 38,824 287,562 4,508 118,439 92,205 427,119 54,652 40,978 1,167,151 8,093 20,662 3,744 3,819,526 72,220 5,491 985,162 2,422,919 5,229,442 660,381 474,391 198,897 138,227 193,632 553,167 1 i i I i i I I TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: MARCH, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Nationality of carrying vessel (Pesos) er cent of TOTAL EXPORTS........... 30,891,853 100.0 American........................ 9,729,841 31.5 Mail............................. 7,601,169 24.6 Philippine........................ 3,872,831 12.5 Norwegian....................... 3,535,490 11.4 Japanese......................... 2, 0,416 8.3 Swedish.......................... 1,000,288 3.2 British........................... 927,094 3.0 Dutch............................ 912,819 3.0 French........................... 553,854 1.8 Russian.......................... 87,140 0.3 Greek............................ 37,993 0.1 Chinese.......................... 36,000 0.1 Aircraft.......................... 16,918 0.1 TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: MARCH AND FEBRUARY, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) March February Per cent Port of entry Value Per cent Valu increase(~ Port of entry Value of Value February (Pesos) total (Pesos) to March TOTAL IMPORTS........... 25,18.6572 100.0 14,024,092 80.5 Manila........................... 23,004,164 90.9 12,758,826 80.3 Cebu............................. 1,643.600 6.5 721,726 127.7 Iloilo............................ 364,196 1.4 409,860 - 11.1 Davao........................... 106,264 0.4 75,200 41.3 Legaspi.......................... 7,026 (1) 19,126 63.3 Jolo............................. 13,5021 0.1 13,672 - 1.2 Zamboanga...................... 36,774 0.1 25,682 43.2 Jose Panganiban................. 143,024 0.6 100.0 Aparri........................... 22 (1) ( A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: MARCH, 1941 Nationality of carrying vessel (Pesos) er cent of TOTAL IMPORTS........... 25,318,572 100.0 American........................ 12,026,920 47.6 Norwegian....................... 4,775,480 18.9 Philippine........................ 2,963,540 11.7 Dutch............................ 1,751,458 6.9 British........................... 1,216,552 4.8 Japanese......................... 1,162,842 4.6 Swedish......................... 775,638 3.1 Mail............................. 485,738 1.9 Panaman......................... 157,168 0.6 Aircraft......................... 1,960 (1) French........................... 1,272 (1) Spanish.......................... 4 (1) (1) Less than 0.1 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: MARCH AND FEBRUARY, 1941 March February Per cent Port of origin Value Per cent increase@ Port ralue of Value February (Pesos) total (Pes) to March OTAL EXPORTS........... 30,891,853 100.0 25,431,915 21.5 Manila........................... 18,811,844 64.1 16,08,463 24.6 18,811,8441 64.1 15,908,463 24.5 Cebu............................. 3,283,462' 10.6 2,755,693 19.2 Iloilo............................ 3,606,202 11.7 4,035,724 - 10.6 Davao........................... 1,689,556 5.5 1,244,809?.5.7 Legaspi......................... 454,753 1.6 308,688 47.3 tegaspj.454,753 1.5 308,688 47.8 Jolo........................3,784 (1) 2,989 26.6 Zamboanga................ 300,591 1.0 274,233 9.6 JoePanganiban................ 1,741,661 5.6 901,316 93.2 @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. The American Chamber of Colmerce Journal Avay, 1941 37

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Tr affic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending March 22, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of December, January, February, and March 1941, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING ----- --, — ---- I -- NUMBIER OF COMMODITIES FREIGHT CARS _ 1941 1940 Rice................ 535 439 Palay............... 157 162 Sugar............. 1,487 1,232 Sugar Cane........ 4,998 6,501 Copra............... 401 623 Copra. 401 623 Coconuts............ 170 38 Molasses............. 36 36 Hemp................ Tobacco............ 6 1 Livestock............ 24 13 Mineral Products 220 340 Lumber and Timber 409 257 Other Forest Product 1 10 5 Manufactures....... 365 254 All Others includin?. L.C.L.. 2.764 2,696 TOTAL. I 11,5821 12,597 =~~~~~~~~~~1,5 FREIGHT Increase or TONNAGE Decrease 1941 8,228 1,828 48,013 102,850 3,948 2,162 1,087 47 210 2,747 10,832 64 6,149 26,718 214,883 1940 Cars Tonna 6,007 96 2,221 2,129 ( 5) ( 301) 38,915 255 9,098 119,862 1,503) (17.012) 6,519( 222) ( 2.571 380 132 1,782 1,115 - 28) 6 5 41 110 11 100 3,489( 120) ( 42) 5,905 152 4,927 79 5 ( 15) 4,028 111 2,121 21,768 68 4,950 210,312 (1,015) 4,571 _ _ ------ t -_ COMMODITIES DEC. JAN. FEB. MAR. Rice, cavanes................... 78,832 87,664 107,508 155,913 Sugar, piculs..................... 497,168 878,123 706,520 744,382 Copra, piculs..................... 100,023 156,340 172,206 105,163 Desiccated Coconuts, cases....... 48,280 32,920 52,593 61,869 Tobacco, bales.................. 638 2,563 848 Lumber, board feet.............. 616,463 1,031,166 2,026,558 2,970,101 Timber, kilos.................... 587,000 398,000 252,000, 499,000, _ ~~~~~~ ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~.... SUMMARY Week ending March 1 3,970 3,895 75,579 67,130 75 8,449 8 3,113 3,744 57,966 62,857 (631) ( 4,891) 15 2,449 3,481 44,788 58,041 (1,032) (13,253) 22 2,050 1,477 36,550 22,284 573 14,266 TOTAL.... 1... 1,582 12,597 214;883 210,312 (1,015) 4,71 NOTE —Figures in parenthesis indicate decrease. Rice Review (March, 1941) By Dr. V. Buencamino Managier, National Rice & Corn Corp. RICE without affecting prices which held steady until the close. The old crop, of which only fancy varieties were available in limited quantities, maintained the unusual premium of over P1.00 for Elonelon, No. 1 old crop selling at P6.90 against P5.85 for the new crop. Macan was not freely available, small lots being offered at P5.60 for No. 1 against P5.25 for new crop. The month ended with indications of fur ther gains in price as a reaction to the protracted dullness and readjustment to higher prices for palay. Arrivals in Manila Month March, March, Feb., Rail 1941... 156,010 1940... 108,169 1941... 107,220 Water 8,202 211 11,096 Total 164,212 108,380 118,316 D 1r a w i n g strength f r o n good buying which developed in the second and third weeks of the month for export account, the local market recovered from the sluggishness of the preceding period and scored g a i n s ranging from P.05 to P.20 according to quality. After the ban on exports was promulgated in the third week, buying activity subsided Shipments to provinces by water March, 1941................... March, 1940................... February, 1941................ 37,502 115,389 36,168 ii THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign P6 PALAY In line with the higher market for rice, buyers raised their bids in the last two weeks by P.05 to P2.35-P2.40 for ordinary varieties. The NARIC continued offering P2.50 for Macan ordinario and its equivalent delivered at Cabanatuan. Trading has not been so brisk as in the previous month. BUSINESS AND PROFESSIONAL DIRECTORY I I~~~~~~~~~~~~~~~~~~~~~~~~~~~ CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Investments Collections Income Tax 560 Taft Avenue Manila, P. I. 38 The American Chamber of Corni)nrc< Journ rl May, 194i (

THE AMERICAN CHAMBER OF COMMERCE:.r/: A2T+2tzicTE itr/ l i U1 7T L/ MANILA, PHILIPPINES, XI, No). 6 JUNE 194" 1~ 35 CENTAVOS

I ---.16 -1 ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA -ii "THE GAME OF A THOUSAND THRILLS" Golfain 11fei aing JaiAlai EVERY NIGHT AT 7:00 Here's to your greater enjoyment! A grand drink that brings you new delight because it's different. Made with Schenley's Golden Wedding - the finest American Whiskey. Ask for it anywhere! Sole Agents: TIlE MANILA MERCIANTS, WINE INC. I,aryest Wholesale and Retail,iquor Dealers iI the I'. I. GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM ~4 BARS * CONTINENTAL CUISINE * SPORTS * GYMNASIUM Air Conditioned For Your Comfort Head Office 174 luan Luna Tels. 4-90-57-4-9t0-i8 Retail Branch Office 37-39 Calle Alhambra I'el. 2-17-61 f -=

r i anM 71zt(laI &0 Please! Mobilgas is made especially for your modern high-speed engine. In traffic, on rough roads, down long stretches, it delivers the pep, power, pick-up, and mileage you want. Mobiloil's "balanced protection" guards against wear.... resists carbon, sludge, "oil drag" helps keep your piston rings clean. Fill up with Mobilgas and change to Mobiloil today! At All Standard-Vacuum Service Stations! ~ a A * A O P I hh - I A A Thr Awerican Chanlher of Commerce Journal Juee 1941 1

I LUZON BROKERAGE CO., INC. Derham Building MANILA Port Area Licensed Customs Brokers Foreign Freights Forwarders P. 0. Box 591 TeL 2-24-21 Heavy Trucking Contractors Warehousemen m I =; Hongkong & Shanghai Banking Corporation Authorized Capital...... Issued and Fully Paid... Reserve Funds: Sterling................. IIongkong Currency Reserve Reserve Liability of Proprietors................ H.K.$50,000,000 H.K.$20,000,000 ~ 6,500,000 $10,000,000 H.K.$20,000,000 Board of Directors and Head Office in Hongkong Sir Vandeleur M. Grayburn, Chief Manager. London Office-9 Gracechurch Street E. C. 3 Manila Branch-Established 1873-Agency in Iloilo Agents at Cebu:-Messrs. Ker & Co. The Bank negotiates and receives for collection bills of exchange; issues drafts and telegraphic transfers on its branches and correspondents in the Far East, the British Empire, the United States and South America, and transacts banking business of every description. Current accounts are opened in Philippine Pesos. Fixed Deposits are received in Philippine, British, or U. S. Currency, on terms which will be quoted on application. C. FARNWORTH, Manager -j I _ [ kt ti-L - Office of the United States High Commissioner Manila "Supplementing the press release of this office under date of April 22, 1941, advising that the reexport to a foreign destination of commodities shipped to the Philippines from the United States under license is considered to constitute an unwarranted evasion of the Export Control Act and Regulations, all parties concerned are hereby further advised that if they desire to reexport such commodities from the Philippines, new applications for new export licenses must be presented to the Department of State, naming the proposed countries of ultimate destination. Unless such applications are granted, reexport from the Philippines would constitute a violation of the Export Control Act and Regulations.":::I: * Colonel Kenneth H. Talbot -A correspondent from South Carolina. "The world revolves on its axis, but for most of us on points on its periphery. Apparently, you in the Philippines are going to be the center of American thought from here out. Of course, you realize the value of the Philippines, but we, in our own way, have always thought of it as a spot on a map without any particular evaluation of its value or the responsibility that is ours. The Americans today are waking up to this situation, and know that within a short time we must meet the situation in the Pacific. I wish I could be out there at this time, but whatever happens your book wi 1 always reflect the conditions in the Islands in their hey-day of American occupation and American influence. No one can read this book without being proud of the ability of America to take a soldier in one hand, and a schoolteacher in the other, and make a commercial colony that has functioned." '.::,.: A. Sackiewicz -A Pole in Manila, where the Polish community has organized. "We would like to bring- to your notice the following: "The first meeting of Poles residirg in the Philippines was held on May 17th in Manila Hotel. It has been decided to form an Association of Poles in the Philippines. A committee was elected, composed of 5 members, viz.: "Mr. A. Sackiewicz, president; Mr. B. Adelski, vice-president; Messrs. J. Nowinski, F. Bogacz and J. Korenblit, members. "The local Association of Poles will be affiliated with the World Organization of Poles in London. The As sociation has been constituted according to the Philippine laws and registered with the local Polish consular authorities. The purposes of the Association are: (a) to organize the Polish residents in the Philippines in the spirit of solidarity and co I WHENYou Buy Matches Ask ForPHi ILIo INr MATCU ES All Matches bearing the name HIlLIIPINIE MATCH CO., LTD. Will Give You Service and Protection Phone 2-85-02 Box 357 625 P. Paterno, Manila I I '.1 - [ ( 2 The American Chamber of Commerce Journal June, 19 1

I operation with Poland and the Polish authorities, (b) to maintain and to develop among the Polish national and cultural consciousness, (c) to promote friendly relations and cultural exchange between Poles and Filipinos. "As this is the first time that Poles in the Philippines have formed their own Association, we should be very glad if you would kindly bring the above to the notice of your readers." * * * Dr. Prudencio Langcauon! — Assistant Director, Bureau of Education. "I wish to thank you for the two copies of the March number of the American Chamber of Commerce Journal which you sent to this Office and wherein you invite attention to the need for preservation of Philippine bird life. The letter from Mr. Ernest H. Oesch, in the Letters Department, on the subject of Philippine bird life contains valuable informative material. We are now-considering the material for possible use as reference on the subject. "You probably are aware that kindness to animals, particularly to birds, is taught in the public schools. I am happy to state that there has been no relaxation in our campaign to inculcate in children love tor animals and real appreciation of the importance of bird life to agriculture." * * * Dr. Leon J. Castillejo -Office of Private Education, Department of Public Instruction. "This is to acknowledge the receipt of your letter of March 19th together with a copy of the March issue of your Journal and to advise you that it will be a pleasure to cooperate with you in the movement to prevent the extermination of our birds. A wish to suggest that you communicate with Dr. Hilario Roxas of the University of the Philippines. He is, I believe, the head of the Department of Zoology, and I am sure you will find him interested in the matter." (Shortly after his letter on Philippine birds appeared in this magazne's March issue, Ernest H. uescri. manager of the Davao plantation of Mindanao Estates Inc., stricken with brain tumor, was brought to Manila,and taken to hospital under surgical care, where he died. He was 52 years old, married, and with 3 children, a daughter and 2 sons. He had come to the Philippines as a teacher of agriculture in the education bureau, later going to Fiji under invitation of the British to introduce there the system of education worked out at Central Luzon Agricultural School (CLAS) at Mufioz, Nueva Ecija. Returning to Manila from Fiji, he took up plantation management ard among such professionals had no superior: the Mindanao Estates place is a model, largely his personal work in a period of 13 years. Funeral services were held at the Cathedral of St. Mary and St. John, where Mr. and Mrs. Oesch had been married after their meeting in Fiji. Mrs. Oesch comes from Australia, where it is assumed she and the children will now go to live. Burial was in ~~~~~~~~i, I I - -- -- --------- - ----- -~ --- —— I --- —-— so BANCO HIPOTECARIO DE FILIPINAS Banco Hip ot e c a r i o B u i d ing 3-9 Plaza Cervantes, Manila SAVINGS ACCOUNTS Accounts opened from PI.00 up with interest computed quarterliy F I X E D DE P OS IT S At rates which'may be-had on application. ANDRES SORIANO E. VAZQUEZ-PRADA President General Manager L --- %VISE & COMPANY, INC. Cebu MANILA Iloilo FOUNDED 1826 EXPORT.E RS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum IMPORTER tS. Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds Wise Building, Juan Luna MANILA OFFICE Cable Address "SAPIENS" Standard Codes I I a Call for PHILIP MORRIS America's FINEST Cigarette PHILIP MORRIS ADS neither coax nor hoaxYOU DON'T find personal opinions... private research... high-pressure claims... or special pleading...in ads for Philip Morris cigarettes. Claims or pleas look silly against this vital, proved difference! Read it... summed up in the findings of a group of distinguished doctors: WHEN SMOKERS CHANGED TO PHILIP MORRIS EVERY CASE OF IRRITATION OF THE NOSE OR THROAT-DUE TO SMOKING-CLEARED COMPLETELY, OR DEFINITELY IMPROVED! SMOKING-PLEASURE without penalties! PHILIP MORRIS' superiority-for the nose and throat-is recognized by eminent medical authorities. No other cigarette can make that statement! FRED M. HARDEN Plaza Lunch Sole Importer & Distributor in the Philippines I ---- The Alt'wria Chamber of Commerce Journal Juie. ' ' t I 3

I _ __ ___ _ _ _ __ HANSON, ORTH & STEVENSON, INC. MANILA CEBU DAVAO IMPORTERS * EXPORTERS STEAMSHIP AGENTS INSURANCE AGENTS a Cementerio del Noite. One of Oesch'S last tasks was to carry water daily through a long drouth, to save Mindanao Estates fire trees that embellish the residence gardens. Now these trees are flush with bloom. This man's passing is an acute loss to farming). * * * Robert K. Carleton -A young subscriber at Raguio who contributes to this issue. "Many thanks for your letter of May 7 and its most generous offer of two subscriptions to the Journal; I accept with pleasure. "I have been receiving the Journml for more than a year now, sending copies containing stories of special interest to myself to my father in New York. I know that he would be very pleased to have the magazine eaccl month. His name and address: Dr. S. S. Carleton, 2 East 54th Street, New York City. "Your translations from Dr. Palma have proved some of the most absoibing reading I have had for many;1 day. I know that a bound volume of the complete translation would be welcome indeed to me. Perhals others feel the same way?" (Like other material of peculiar value that we regularly print, the way to keep the Palma material is to preserve copies of the magazine in which it appears. We would enjoy looking over manuscripts and pictures from other readers, with a view to using as much such material as measures up to requirements, and what is not used will be returned.-Ed.) I H Rn aI ISiacL~t C 2in c 4 17S7... -- ~/ — in LITHOGRAPHY * PRINi [ING 1, II i I PAPER BOXES * BOOKBINDING CALENDARS & NOVELTIES - II1 I CARMELO & BAUERMANN, I NC, m --- a Manila, Philippines;~ — --- _IN - OM ( 4 The American Cham er of Commerce Jolurtla June, 1 l1

-1 Over Mountains and Across Seas... _- - < =:^in one tick of == 1 tE===x0 =Byour watch... Wk;?^.yl^M L t ONG DISTANCE telephone service removes '__^^.^^ \A.V\/~ ~,\ 4 W the restrictions of time and distance. Message and reply become only a matter of seconds. Get the answer, discuss details, make decisions... ~/' \ Y/ ^\ \ } b \ ~by Long Distance...and be free for other affairs. Your home or office telephone can be connected with many places in the Philippines and overseas countries. For rates to out-of-town '\ -- <(\S^X^ — J^^^ ~points see page IV in the front part of the telephone directory, or call, LONG DISTANCE (Dial 09 in Manila) P100 REWARD? Ar/'i -.-.......- - ~ m s~~~~~~ A reward of 1l00 will be granted to anyone tur-\ / / nishing information —confidential or otherwiseleading to the arrest and conviction of any person or persons interfering with the telephone service by the deliberate distruction of poles, wires and/or cables. -- -- The American Chamber of Commerce Journl June, 1941 5

I THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. Subscriptions P4 a year - Foreign P6 1 We have made it possible for you to start furnishing your home on a limited budget! In line with our policy of giving more value for your money, our Designing Department has undertaken to produce well-done, elegant and inexpensive furniture. We had the newlyweds in mind in doing this work, because we realize that one of your problems is getting your home furnished on a limited budget. Call us up and we will send you our Interior Decorator and make studies of your house or if you so desire, we shall take care of all the furnishings. Our expert advice on Interior Decoration is rendered without any charge. GONZALO PUYAT & SONS, 219-229 SOLANA, W. C. 628 RIZAL AVE., M Branch: BACOLOD CITY INC. [ANILA I1 I 1 COOL OFF! with a glass of ice - cold Sanh iuel catr lsen The BEST of GOOD BEERS Since 1890 -r4rtq ban Hi iu l I ( 6 The American Chamber of Commerce Journal June, 191

Rear Admiral Harold M. Bemis and Ranking Officers of the Sixteenth Naval District and the Navy Yard, Cavite * A t 1.~,I I1 C ~~ aB ~S ~~ ~-.~t ~u r`,,r: i ~1 ii.. ',2.a i.X.. I Rear Admiral Harold M. Bemis, U. S. Navy Commandant of the Sixteenth Naval District and the Navy Yard, Cavite. Commander Herbert J. Ray, U. S. Navy Chief of Staff and Aide to the Commandant, Sixteenth Naval District. The American Chamnber of Commerce Journal June, 1941 Commander S u m n e r C. C h e e v e r, Captain Everett G. Morsell, Supply Corps, U. S. Navy U. S. Navy Aide to the Commandant, Sixteenth Na- District Supply Officer. val District and District Legal Officer. [Continued on next page] 7

Captain Clyde B. Camerer, Medical Corps, Commander Kitchen L. Hill, U. S. Navy U. S. Navy Retired District Medical Officer. District Intelligence Officer. ~ r:i'~' '~ c 3"..:7 ~ ~;'7:~'...~ bF~f~'J..~~ ~'..... ~..,'.:!.'.:..:..~.; '............. Commander J o s e p h L. McGuigan, U. S. Navy Industrial Manager, Navy Yard, Cavife, Commander Karl R. Shears, U. S. Navy District War Plans Officer. -- I Do 111 I'Or'av' B v Lieutenant Colonel John P. Commander James D. Wilson, Adams, U. S. Marine Corps C iv i I Engineer Co rp s, Commanding Marine Barracks, U. S. Navy " Navy Yard, Cavite. District Public Works Officer. Ir[P-~~ jll -!I Commander Harry J. Hansen, Lieut. Commander Frederick U. S. Navy Baltzly, U. S. Navy Captain of the Yard Commanding, U. S. Naval Station, Retired Olongapo, P. I. District Personnel Officer.

I i i i I Philippine Industrial Fuel During War High prices for imported coals have given birth to a "war baby" in Cebu coal territory and brought into use as steaming fuels both copra and copra meal as well as quantities of cheap firewoods. There is mighty little manufacturing in the Philippines and unlikely to be much more here until commercial quantities of oil or coal are discovered, or both these blessings of industry turn up together. The ready explanation is that while during peace periods freights are low and imported coals are cheap enough, during times of war bottoms become scarce on the Pacific and rising freight rates send coal prices up. It becomes a problem how to get along, even in the manufacture of electricity. But one man's poison is another man's meat, in matters such as this, so that while foreign coals are now (May 15) priced wholesale above P35 per ton in Manila, such domestic coals as are available are making producers lucrative profits. Coal indeed is the first wzar baby in the Philippines born of World War II. This at Cebu. Cebu is an island-province in the Bisayas widely underlaid with coal, bituminous in character and lying in broken seams. It should also be said that Cebu City is the second port of the Philippines, a center of the intercoastal commerce, and that little as manufacturing is in the Philippines, the coastal carrying trade is very considerable, employing hundreds of vessels, small and large, that steam with coal and now try, as much as they can, to bunker in Cebu. This coal is produced by primitive methods described in this magazine as lugubriously practical some years ago, when a coal expert had been inspecting them with horror. This is the way: Men procure from the Commonwealth what are termed revocable coal-land leases, and pay the Commonwealth 25 centavos per ton for all coal removed from the deposits the leases cover. Then they arrange with peasants to gopher out the coal anld pack it up to the roadside, where their trucks pick it up and take it on into Cebu. It costs about P5 to land a tonl of coal in Cebu by this method, anl the price it brings there is about P12. This has given Cebu a coal boom. One detail is that private Persons usually own the surface 'he Americqn Chaumber of Comnnerce Journal Jmc, W941 The Liguan Coal Mines on Batan Island. areas above the coal, and to satisfy these owners the coal-land lessees have to fork over 50 centavos to 1 peso per ton. A sufficient price spread remains. The Cebu Portland Cement Company is the biggest user of Cebu coal and also the biggest miner there, owning and operating the UlingUling mines above their cement works at Naga, on the Cebu coast, where the cement output pushes 4,000 barrels per day. The company's need for coal is about 250 tons per day, and Uling-Uling yields about 1,000 tons a month, so an outside supply of some 5,000 tons a month has to be bought. For a year or so now, all this coal has been bought from Cebu producers and the current price is PI.12 per 1,000 British thermal units, btu's. This runs to about P11.20 per ton, but penalties may bring it lower and bonuses bring it up. They say that's a square way to buy coals. Another thing that wartime ocean freights does to Philippine industry is to cut copra meal (the residue from expressing coconut oil from copra) out of overseas marketsrates rise so high and bottoms get so scarce that shipping meal and copra cake no longer pays. At the same time, the supply of meal and cake mounts because the freight situationinduces less shipping of copra and more conversion of copra into coconut oil right here at Manila. The alternative is to sell the meal for fuel; this is being done and Manila Electric is burning copra meal, though also a lot of coal. Surprisingly, the Manila Railroad, another big user of coal, burns no copra meal for which the price is no premium, but does burn copra itself and may keep on doing so even should copra prices go considerably higher. But there's a trick in it, no enormous quantity of copra is required under the railroad's scheme, and this may be the blackest and dirtiest that any tapahan and indifferent farmer ever turned out-just so it's copra, about 2/3 the weight of which is coconut oil. For what the railroad burns with this copra is [Continued on page 14] 9

American Chamber of Commerce of the Philippines DIRECTORS: ALTERNATE DIRECTORS S. F. Gaches, President C. M. Hoskins E. D. Gundelfinger, Vice-Pres. G. M. Ivory Robert E. Cecil, Treasurer E. Byron Ford P. A. Meyer A. P. Ames J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman.E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E..C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs E. A. Perkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, ChairmSan A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairmaan H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meacher E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairmana N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Itellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) l1. P. Strickler (Cordage) 1. H. Hale (Shoes-Leather-Rattan) S. M. Jones (Sugar) J. L. Hea(lington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A, Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. IR. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen J. P. McPherson Ii. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean Hellis T. Kevin Mallen A. P. Ames L. M. Hausman H. L. Suarez That is for the good of all. No year that we recall compares at all with the one that closed in May. This statement will reach the reader about June 10. On June 10 last year the big headline of the Manila Daily Bulletin was this: Nazis 48 Miles F,'o0 Paris. The 4-column subhead was this: French NoW, Facing 20 Fresh Divisions. See? As recently as that there was still a France, there was still the Third Repub. lic. France fell, and God knows what will fall in her wake. But these daily calamities to freedom are not, after all, the year's great change. That change has been the revitalization of American democracy; the way in which production homeside has turned from peace-time to war-time requirements, and the way our young nation prepares to sail into this conflict at a timely hour. Yet even this is not the whole of the great change. It is rounded out by America's determination to have power enough hereafter on sea and land and in the heavens to forestall military captains who attack our way of life. This is the significant change, emphatically so for the Philippines. Of the new power, the Philip. pines become an integral and an integrated part. We know little about the incidental events that this change may involve, but just watching such a national purpose take tangible form will endow life with considerable spe. cial interest. CHANGE WITHIN THE PHILIPPINES The past year that witnessed such significant changes homeside and in Europe, witnessed a change within the Philippines themselves that is of decisive nature. The Philippines became a mining country: an iron country, a chromite country, a manganese country, besides a gold country. The Islands have iron to match Sweden's, chromite to match Turkey's, and manganese to match Europe's best. Both the Commonwealth and private enterprise are wildcatting for oil, geology indicatinrg that it may be found. That still remains to be seen, but the past year brought in the S'urigao-Davao goldfield, the second field proved up in the Philippines since 1933, the third great field in the Islands. Both base and precious metals now definitely stamp the Philippines a mining country. Travel associates itself with such changes. Unusual travel turns this way. Look at the time that Henry R. Luce and Mrs. Luce (Clare Boothe, the playwright) saw it worthwhile to allot the Philippines in their Far Eastern itinerary concerned primarily with China. Flying through to China and doubling back to Singapore and Batavia, they came back to Manila May 24 and spent the the rest of May seeing as much of the Philippines as they could. Mr. Luce, who heads up Time, Life, and Fortune, managed not only valuable conferences with President Quezon, General Grunert, Admiral Bemis and others, and visits with Commissioner and Mrs. Sayre with Mrs. Luce, but got a birdseye view of Mindanao besides, as far as Davao. Miss Boothe, selecting primitive art pieces at Baguio, harbors a purpose to return to the Philippines for a month's stay. She is a writer whom the country pleases, in its new international and national importance-a character it acquired only during the past year. There are other such writers, headed by Mr. Luce himself. Such changes are permanent, however sincerely the world situation that brings them about may be rebuked and deplored. In passing, let us congratulate President Quezon's Committee foJr Distingfzished Visitors for its handling of Mr. and Mrs. Luce's itinerary. To have such a committee is an important change in itself. The American Chamber of Commerce Journlal June, 1941 AN EPIC CHANGE With this issue the Journal turns another anniversary with thanks to its patrons and readers for support enough during the past twelvemonth to make the magazine rather larger than usual, about as good a year's work as we've ever done. Prospects ahead are even better. As we said in this space last month, an epic change affected the Philippines during the first half of 1941. In a way still to be determined in its details, the association of the Philippines with the homeland became permanent. It is time, now, to speak of the homeland as such, rather than to string it out as America or the United States; so too, thanks to a change so self-evident, in Manila an exile is ended and we may speak of things homeside, rather than of things American or things relative to the United States. The past halfyear has made it plain that America in the Philippines is on no mere visit. Relationships between Manila and Washington must work themselves out on this new basis. 10

THE OGRE OF INFLATION The followiing discussion of the problent of inflation c(,ufj ronting the United States appeared in the monthly,( Ticir of the NATIONAL CITY BANK for April: "It is axiomatic that the greater the defense effort the greater the disturbance of normal business and daily life is likely to be; also the higher the cost, the greater the inflationary danger, and the greater the sacrifice necessary to bear the cost without recourse to inflationaXV practices. "Few have yet been called upon to make sacrifices for defense, except the men selected for army service and those who are paying higher taxes this year without equivalent increases in income. These sacrifices are made willingly. As time goes on further obligations will fall upon individuals. It can hardly be doubted that they will be accepted with equal willingness, if the necessity is made plain and understood. Most elements of the population, including factory workers and farmers, so far have benefited from the defense effort. They are having increases in income exceeding the advance of living costs, and enjoy a greater purchasing power, put into their hands to a considerable extent by government expenditures. "However, the workers who are making warplanes and guns do not buy them, but spend their wages for necessities and comforts, and their work is not adding to the supply of the kind of goods they buy. As the program grows munitions will represent a greater share of the product of industry, and the share available for individuals will be reduced. If the increased purchasing power resulting from armament production is then left in the hands of individuals they will be trying to buy more consumers' goods than there are in the markets. "The problem is stated concisely by Mr. Bernard M. Baruch in the Spring 1941 number of the Harvard Business Review. He says: 'If production is at an annual rate of 85 billion dollars, 10 billion dollars of this may represent munitions. The public, therefore, is left only 75 billion dollars of consumer goods to buy with its 85 billions of purchasing power. The result is inevitably rising prices unless some restraints are exercised.' "The converse of this statement is that if the assumed 10 billion dollar excess is diverted to the Government not only will the inflationary influences be restrained, but it will meet the defense costs. If consum ers abstain from buying goods,-in other words, if they save, - their savings can be borrowed by the Government; or taxes can be levied to force them to abstain from buying. "The aim of both Government and business is, of course, to minimize the necessary individual sacrifices by producing net only the armaments, but sufficient peacetime goods to maintain (and in many cases to raise) the standard of living; in other words, to have both guns and butter as far as possible. Under this program those who are enjoying larger incomes would contribute equitably to the cost of the armaments. Taxes, although heavier, would not be more burdensome in the aggregate because they would be met out of increased earnings. Savings in the aggregate would not represent abnormal self-denial. The question is how far this relatively painless operation may be carried, and where real sacrifices begin." I AM AN AMERICAN DAY I a)n an Amer-icanc Day was observed in Manila at the Elks Club Sunday afternoon, May 18, and during the evening too, under Elks' auspices and with the invitation general to the American community. All went nicely, attendance was large. By way of speeches, Attorney Ewald E. Selph talked informally concerning the birth and growth of the constitution; Major Stanley H. Hunsicker, U. S. A., told of the evolution of the flag and illustrated each step with a miniature flag that made his facts vivid. F. W. Simmonsen was in capital form as master of ceremonies during the program, with Melvyn Toyne at the organ. Corporal Campbell and Private (First Class) Breese from the Marines turned out to be a swell team of singers, assisted in some of their numbers by Miss Ginger Eason. Also, all three of these singers sang solos, and every one in attendance had opportunity to join in the singing of old national favorites. Breese sang Homle ofn the Range, something President Roosevelt often asks to hear, and Breese and Campbell together sang America, I Love You, while everyone, for the finale, sang God Bless America! Supper came prior to the program, and dancing went on through the evening, the Elks extending club courtesies to members of other organizations. The 16th Naval District Orchestra played for the dancing. When it came to this dancing, you can bet that Marines Breese and Campbell were still in the groove. Exalted Ruler Edward W. Bayer made the opening remarks and led the Elks as hosts. LL — Breakfast is Different: and Libby S is the brand! Pick Out Your Juices from I Pear Peach Pineapple Orange Apricot Tomato Concord Grapes It's always wise to have them on hand! T'e American Chamber of Co7mmerce Journal J"1C, 1D41 11

I'm Off The Fence Because I Believe in the Right of Every Nation-Great or Small-to Live in Freedom. By The Rev. Dr. Maurice S. Sheehy — ------—.. (EDITOR'S NOTE: Recently The Reverend Dr. Maurice S. Sheehy, head of the Department of Religious Education of the Catholio University of America, Washington, D.C., resigned tkis position to report for duty as a chaplain in the United States Navy. Dr. Sheehy, World War overseas veteran and former President of the Eastern Association of Deans and Student Advisers, explained the personal reasons back of his decision in an address broadcast over the Columbia network. Because Dr. Sheehy is a nationally known educator, and because *tis enlistment in the active forces demonstrates he has the courage of his conviotions, his views on present world affairs are particularly noteworthy. The following article is based on his radio address.) This a moment in which calm thought must precede decisive action. For some months I have been disturbed, both as an American citizen and as a Catholic, at the indifference shown toward the world revolution now in progress. It was my privilege on February 13 to join the fighting forces of our nation as a chaplain in the Navy. My action was dictated in part by the fact that some weeks ago I chanced to read in Dante's immortal legacy to culture a description of the fencesitters, the angels who refused to fight either on the side of God or Lucifer, who had "lost their intellectual good." They were the isolationists, or as Dante said, "they were for themselves only." My action in joining the forces marshaled for the defense and security of cur country may be interpreted by some as approval of our national defense policy and all it implies. That assumption is 100 per cent correct. I also believe that no church, mine or any other, should speak officially on the I I I 0 Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL P 2,000,000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. O. Box 3369, Manila, Philippines 1 subject of our government's control of foreign affairs. Any church has a right and an obligation to declare the spiritual and moral principles which underlie forms of political action. It is indeed a happy circumstance that in our country, unlike many other desolate and unhappy countries, state and church operate in harmonious freedom. At this moment, I repeat, churches and their spokesmen might well stick to principles, those that have any, and let the technical business of our State Department be administered by its well-informed officials under the direction of a noble and far-sighted American, Cordell Hull. And the technical business of manning our defenses should not be left to journalistic crackpots, venal racketeers, and committees which seek to usurp the powers of the President and the Congress, Our defense must be engineered by admirals, generals, and technicians who alone are competent to tell what can protect us from the threat of a Hitler-dominated world. While I happen to be an officer in the United States Naval Reserve, I know nothing about that business. I am competent and have an obligation to speak on the intrinsic right or wrong of this conflict which threatens to envelop the United States. On September 2, 1939, I had a ring-side seat at one of the dramatic preludes to the war. I was in London. Three times the House of Parliament assembled to hear the statement which might mean war. The German hordes were rushing into defenseless Poland. Von Ribbentrop refused to show Hitler's demands even to the Polish ambassador. In that grim hour, I saw the late Chamberlain, pale and exhausted, as he exerted all the ingenuity of a peaceful heart and a great mind. He magnanimously and fairly revealed the efforts of Mussolini in behalf of peace. IPlaP~~~~lh~~I --- —— ~e 12 The American Chwnber of Commerce Journal June, 1941

As Greenwood, the labor leader, rose to speak, there came a shout from the conservative benches, "Speak for England,' and that moment I knew that the people of England had made a great decision-to fulfill their pledged word-a decision that would mean death to countless British youth. At that moment, I was still a fence-sitter. Possibly the fact that I am of Irish descent, mindful of the tyranny of England's dictators in the past, may explain in part my indifference. And then, too, I had as a youngster at Base Hospital 28 ministered to several thousand victims of the last war-and I had then decided that no war justified such suffering. I am no longer a fence-sitter. My Irish blood clamors for vengeance against England-but only for God's vengeance which will be accomplished when England returns to the unity of Christendom. Perhaps in the Providence of God, that day may be speeded by the horrors of war. Today I am convinced, as a matter ol calm reason, with all my inborn prejudices pulling to an opposite conclusion, that England's cause is the cause of freedom, of the United States of America and of Christianity. A document too little known, even among Catholics of Germany, is the encyclical letter of Pope Pius XI on the Condition of the Church in Germany. In it, that noble man of God recalls the misgivings with which he signed the Concovrdat. He reminds the chief of the German government of its broken promises in these words: "The lessons of the past years make it clear where responsibility lies. They disclose machinations which have no other aim than a war of extermination. In the furrows where we labored to plant the seeds of peace, others were sowing the tares of discord, of hatred, of calumny, of secret and open enmity against Christ and His Church, an enmity in principle, fed from a thousand springs and working with every means at its disposal." Are those words of a British propagandist? No, they are the words of Pope Pius XI. And his spirit, thank God, lives on in another great Pope, Pius XII, who fearlessly in his last Christmas message, demanded, as a condition of a just peace, "the right of every nation, great or small, to live in freedom." The real test of what is at stake for Christianity in this conflict is not activity at the battlefronts but what is occurring ini those countries seized by the dictators. So expert is Russian ruthlessness that we have only a faint idea of what horrors have been visited upon the portion of Poland Hitler magnanimously gave his ally, Stalin. In the German-occupied part of Poland, The American Chamber of Commerae Journal June, 1941 churches have been razed, priests shot or imprisoned, three millions slaughtered, and cother millions have been reduced to virtual slavery in German work camps. The whole philosophy of Naziism appears in the Christmas message of Herr Frank, Hitler's representative: "It is the greatest gift of heaven to be able to call one's cl4f a German, and we are proud to master the world as Germans. The Poles must loyally do their duty; and their duty is work." Is it any wonder that Pope Pius XII wept as he received a Polish delegation Vwith these words: "May Christ, Who wept at the grave of Lazarus and over the ruins of His fatherland, gather and some day compensate you for the tears you spill over Poland which will not die." Just two other instances of the peril to Christianity in a Hitler-dominated world. On February 2, 1941, a message was received from the seven Lutheran bishops in Norway condemning in fierce terms, "the systematic violence of Quisling Storm Troopers and interference with the preacher's secrecy of oath." A few days earlier the Catholic bishops of the Netherlands issued a defiance of Naziism, even refusing the sacraments and Christian burial to members of theNazi party in Holland. Here is their version of the peril of Hitlerism: "The Nazi movement not only threatens to hamper the church in the execution of its tasks, hut it [Continued on page 19] IW a~ Complete on Luzon. PASSENGER EXPRESS FREIGHT Serviced on dependable scheduled trains daily between Manila and provincial trade centers For passengers, comfortable and spacious coaches equipped for personal comfort For shippers, fast express service and sche'duled freight trains I For points beyond railheads passenger connections with Norlutran, Pantranco, Rural Transit and Alatco See Your Railroad Agent Gen. Information Telephone 4-98-61 -A9s - IQ~f Traffic Manager Tels. 4-70-67 4-70-58 MANILA RAILROAD COMPANY Tutuban Central, 943 Azcarraga, Manila, Philippines - -- 13

mountain wood, or wood from secondgrowth timber extensive enough along the railroad's southern line and Batangas branch. With 15 parts of wood, 1 part of copra is mingled; oil from the burning copra dripping over the porous wood and soaking into it, this is found to be a satisfactory steaming fuel. A lot of money that formally went abroad for railroad coal, now goes to Luzon peasants for wood and copra. The saving, below the current price of coal, is very large. Liguan Mines, whose coal deposits are on Batan, a coastal island off Le Philippine Industrial Fuel... Continued from page 9 gaspi, the capital and main port of Albay in southeastern Luzon, stands out as the only extensive and well organized coal project in the Philippines. It is, of course, profiting from the general fuel situation and raising its output, a good bituminous coal. During the first 3 months of this year Liguan averaged about 3,000 tons of coal a month, or 100 tons a day. A rise of 33 % in this production may be reached by mid - _ __~~~~~~~~~~~~~~ — I-M HALLICRAFTERS WORLD'S LARGEST BUILDERS OF COMMUNICATIONS EQUIPMENT year. Naturally, no difficulty rises in selling the coal. Wartimes have such freakish effects on the Philip. pines' fuel problem. In view of drouth and, until recently, record lows for both Manila hemp and copra, nothing could have been more fortunate for Cebu than the sudden scarcity of imported coals. It gives Cebuanos a supplemental income sorely needed. It is equally fortunate that the Manila Railroad finds that by mixing copra with it, it can burn moun. tain wood and maintain satisfactory pressures in its locomotives. Hundreds of families now cut this wood, laying it down at shipping points at an agreed price per talaksan, corresponding to the cord. Meantime, what about motor spirits should gasoline run short? In such a case, National Development thinks, coconut oil (that then perhaps could not be shipped abroad) would convert into a satisfactory substitute. A method for this has been devised, the assertion is, that in crises will be applicable. What may be doubted is that plants sufficient to yield necessary quantities of such fuel could be built, so that here we perhaps have nothing more than a potentiality. The mention is made only to round out a general view of the industrial fuel situation in the Philippines at midyear 1941. The first substitute for motor spirits the country has, should gasoline imports run short of demand, is alcohol from the molasses at its sugarmills and from buri glades on its coasts; and anything from coconut oil would come later. Overseas coal has come to Manila this year from as far away as Norfolk, Virginia. A more common source is Sumatra, a coal called Lematang lump. The higher quality of Norfolk coal is reported to have tended to offset the freight costs.... an incredible consequence of war. But coal imports have gone down, as domestic production and utilization of substitutes have gone up. In the first 4 months of 1940 coal imports were 130,152.5 metric tons valued in the invoices at P897,816. In the first 4 months of this year, however, coal imports were but 51,740.2 metric tons valued in invoices at P366,054. Thus Philippine coal imports during the first 4 months of this year were only 40% of Philippine coal imports during the first 4 months of last year, a really big change. I The new SKY BUDDY is SIX MODELS TO SELECT FROM an amateur receiver in every respect, covering Model No. Description Tubes Retail everything on the air S-19 R Sky Buddy 6 P1I 50.00 from 44 mc. to 545 kc., S-20 R Sky Champion 9 215.00 including the 10, 20, 40, SX-25 Super Defiant 12 460.00 and 160 meter ama- SX-28 New Sky Rider 28 15 730.00 80 and 160 meter ama S-29 Sky Traveler 9 245.00 teur bands. It now em- EC- I Echophone 6 100.00 ploys the same electrical bandspread system used in higher priced Hallicrafter models. The more important features are: Electrical bandspread, broadcast band, BFO, AVC switch, phone jack, pitch control, built-in speaker. 0 Liberal Discount for Cash F. H. STEVENS & CO. Sole Distributors 227 DAVID-MANILA 9~~~~~~~~ 14 Tke American Chamber of Commerce Journal June, 1941 (

I I Translation From Dr. Palma First installment of the late Dr. Palma's commentary on Philippine Economic Progress. IThe ancient economic life of Filipinos delended principally on farming and fishing, with some small domestic industry and regular commerce with the interior on all the islands, together with considerable ocean commerce at ports where such commerce was open. The greater part of the people were laborers of the soil and possessed their own lands, since according to the barcangay system, the chief distributed the lowlands among all the freemen of the new community and reserved the highlandas communal property. Cultivation was usually' carried on by servants and slaves; though the slavery system was not very rigid and some slaves were permitted to own their fields and enjoy their product. Filipinos journeyed constantly from island to island selling products and merchandise. Law was that their community would declare war on any community where they were molested, unless the offenders were delivered over as slaves. Overseas commerce was carried on with Borneo, the Moluccas, India, Sumatra, and Java on the one hand, and on the other, with China, Japan, Siam, and Cambodia. Silver and metals came from Japan, also saltpeter, arms and curios, and in exchange: their boats took from the Philippines deerskins, gold, dyewoods, honey, palmwine, and the civet cat. From India, Malacca, the Moluccas, came drugs, spices, precious stones, ivory, pearls, rugs, for which were exchanged rice, gold-dust and other products. Siam and Cambodia sent benzoin, cotton, and ivory, and took away shells, mother-of-pearl and earthen jars. China sent silk, metals, fruits4 conserves and gunpowder. The agricultural and commercial life of Filipinos in that age was prosperous, to a degree, and maritime relations with neighboring countries were considerable. It does not appear that international complications existed between countries in the Far East until the arrival of the Portuguese, the Spaniards, and the Dutch, with their objectives of conquest and dominion. The first steps the Spaniards took in the Philippines were disastrous for economic progress. In the first place, since the means of subsistence sufficed merely for the manner of life of the Filipinos themselves, the presence of the Spaniards disturbed the balance between demand and sulpply in products of primary consump tion. To supply the new community with its varied necessities, presented a serious problem not only because the number was great that had to be supplied, but because of the methods enforced by the Spaniards tc obtain provisions. Father Martin de Rada and the first bishop, Father Domingo de Salazar, report in detail concerning the rigorous mea. sures of which Filipinos were the victims because of the assessment of imposts and the appropriation of provisions for the Spaniards' tables. Scarcity ensued, prices rose exorbitantly, and agriculture was neglected. Rice became so scarce that armed expeditions had to be sent to confiscate supplies from the growers; also bogs, chickens, eggs, and other rations. To provide Manila, an ordinance of 1598 commanded the adjacent provinces to furnish the city with table requirements of all varieties. These supplies were to arrive weekly: 300 laying hens, 2,000 eggs, and whatever hogs were available-all with regular dispatch. Instead of fowls during lent, more eggs were sent. All was received by a city commissary, and apportioned to the Spanliards according to their rank, the ordinance stipulating payment for everything received, in accordance with a tariff it published. Tondo's turn at this was from January to March, Pampanga's from April to June, Bulakan's from July to August, Laguna's from September to October, Mindoro's and Balayan's from November to December. Further, Filipinos were prohibited from buying merchandise and provisions en route to Manila if the intention was to resell them in the city. On the pretext of their evangelization, Filipinos lost the liberty to travel that they formerly enjoyed. They were not permitted to leave their village to trade, save with consent of the governor, or alcaldes mayores, and justices, of the religious instructor, who frequently refused Filipinos the privilege in order that none should fall behind with his lessons in the new faith. It was rated a grave fault for Filipinos to worship away from their homes or communit'es. Filipinos might indeed mov from one island to another and one province to another, paying the royal tribute in their new location; but they could i.t i [Continued on,pa I GENERAL ELECTRIC /A WATER COOLERS COLD DRINKING WATER FOR AS LOW AS 10 A DAY The water cooler that business and industry buys in preference to any other make is G. E. Imagine cold drinking water all day for fifty people at an average current cost of 10 centavos.* G. E. maintenance cost is low too. Its solid, stainless steel water reservoir guards against rust, leaks, corrosion, contamination... and that implies repairman won't see it for years to come. All models have foot pedal control. Many new models include sealed unit with special five year protection plan. Take your choice of the cup or bubler types for bottle or city water. Visit your local G. E. dealer or write to General Electric Co. (P. I.), Inc., Port Area, Manila. * Figures apply to Manila. DEALERS: Visayan Electrical Supply Co., Inc., CAbu: Panay Electric Company, Inc., llo;lo; Trinidad Garage Transportation, Inc., Baguio; Mr. Atfredo Benito, Legaspi, Albay. The American Chamber of Commerce Journal June, 1941 15

t~~v~~d~~ eh0 CLASS ES COMPRESSOR For air or gas; 5 to 125 hp. For 5 to 2500 lb. pressure. For continuous full-load service. For any type of drive. II L 1, *Operators of ES Compressors take pride in the speed with which the frame and running gear of this compressor can be given a thorough checking over... and adjusted if necessary. Note how easy it is to get at every running gear part within the frame. Also note the large openings in the distance piece which facilitate adjustment of the stuffing box. More important than the time saved is the simple fact that the easy task is not apt to be neglected. 16 The American Chamber of Commercn Journal June, 194 (

Gomoco Mine Soon To Enter Production Newest of Philippine goldmines 1now shortly to enter the ranks of producers is the Gomoco property, located some 80 kilometers so uth of Blituan, in Agusan, Mindanao. The mine is difficult to reach, being in country still relatively inaccessibleas yet without roads. It lies about 30 kilometers west of Tambis on the east coast of Mindanao, from which it is separated by a mountain range. At present, the only means of access is by traveling up the broad, sinous Agusan by launch for some 12 hours, to its juncture with the Gibong, which in turn is followed southeasterly until the Sulibao is met with. This, in the dry season, is the end of the launch trip; from then on it is a job of weary poling up the shallow Sulibao for another 5 hours, to the barrio of Novelle. From Novelle, the mining company has built 3 kilometers of corduroy road to the camp. In the rainy season with high water in the Agusan, the launch is brought from Butuan to Novelle in 14 hours or so. This is regularly done by the ingenious craft, Gomoco Chief, designed specifically to negotiate the treacherous shallows of the Gibong and the Sulibao rivers. Equipped with a special diesel, this boat draws only 17 inches of water, empty, and during high water can bring in 8 tons of freight. Its captain, pilot, and chief engineer, thanks to an excellent radio on board, are better informed on world affairs than most of us. It is an odd sensation to sit comfortably aboard at night, watch the myriads of fireflies that light up the impenetrable forest like so many Christmas trees, and listen-in to Treasure Island or London. Gomoco has an interesting history. Something was evidently known about this property early in the century, though there appears to be no record of its having been prospected by the Spaniards. It seems that after the war in 1898, a group of American prospectors agreed to pool their knowledge in a common book, that was to contain all the information they had gained in their travels-for their mutual good. The book was guarded jealously, and its contents were known to none on the outside. One after another these oldtimers died, and the precious book was bequeathed to those who remained alive. The story goes that an experienced and resourceful prospector learned from the book about some rich float that could be found on the Gomoco. It took a lot of traveling just to locate the river, but it was finally done. Then began the patient back-breaking labor of panning the river gravels for colors, trenching the hillsides, and following up the float. It was late in 1939 that a good vein was finally found. Development work followed. Manila capitalists became interested, and a company was formed. By the middle of 1940, sufficient development work had been done to warrant mill construction, it was believed, and since that time a 50-ton mill has been erected-under conditions of difficult transportation that reflect high credit on the men in charge of the work. The new mill, as shown in the illustration, is of the gravity type for.1 I i House boat anchored on the upper Agusan on the way to GomoCO. New 50-ton mill of Gomoco Mining Company. which the contour of the country is well adapted. It will employ the allcyanidation process for gold recovery. It can readily be enlarged to treat a larger tonnage when mining conditions permit. A good camp has been established. Living conditions are still somewhat primitive, but there are no real hardships. The climate is healthful, free from malaria, and the nights are cool. All the lumber for mill and camp construction has been hewn on the job. The company is fortunate in possessing an ample supply of excellent hardwood timber on its property for mining and building purposes. Development thus far has been confined chiefly to drifting on the various veins exposed on the property, and totals several thousand feet. The topography of the country lends itself to this method, the surface is rugged and backs are gained quickly in short distances underground. It is anticipated that the grade of ore to be sent to the mill will be comparatively good, as is indicated by exhaustive sampling and testing. Considerable free gold appears in the veins, and the company has already been plagued by highgraders. Labor conditions leave something to be desired. Experienced miners are scarce and must be brought in from Surigao or other established mining centers. Local men are said to be inefficient and prone to take time off on any excuse. No doubt, as operations continue, a steady and dependable crew 0*141 44o.'' The American Chamber of Commerce Journal lTune, 1941 17

can be developed-just as been done elsewhere. The importance of Gomoco from the broad viewpoint is that the property opens up an entirely new mining area in Agusan; if successful, it should lead to intensive prospecting for other mineral deposits in that region. With improved transportation facilities, it is not unreasonable to believe that many other discoveries will follow. As yet, little or no geological reconnaissance has been done in the vicinity, though placer has been reported from time to time in the Agusan river gravels and at present there is a small operation about 10 kilometers from Butuan. Chamber Of Mines Publishes Comprehensive Review Legible comparisons made in all branches of Philippine mining, 1939 contrasted with 1940.-Last year's cash dividends short of 1939's due to the rising costs and inventories.-Base metals score big. The Chamber of Mines of the Philippines has issued an extremely comprehensive review of the Philippine HERE IS NEWS: - ON THE NEW McDONALD SHAFT AT UNITED PARACALE MINING CO. A RECORD OF SINKING 188 FT. IN THIRTY WORKING DAYS WAS ACCOMPLISHED WE ARE PROUD TO ANNOUNCE THAT THE DRILLS USED ON THIS JOB WERE SULLIVAN PRODUCT THE L-57 AS ILLUSTRATED 11 3N mining industry during 1940. This review is a storehouse of statistical material concerning the Common. wealth's second biggest industry, mining. Prepared in pamphlet form, the review publishes data on gold and base metals production arranged by districts and by names of producing companies. Many tables of statistics facilitate rapid comparisons, not only for 1940 but for earlier Years as well. The review shows that during 1940 a total of 79 mining companies with combined paid-up capital of P79,000,000 in round number, reported mineral production of P92,832,911. This is an increase of 9.58% over the value of Philippine mineral production during 1939. Dividends in 1940 were paid by 23 mining companies, and summed P18,335,215 during the year. However, despite the increase of mineral production in this field, from total values of P84,710,128 in 1939 to P92,832,911 in 1940, total cash dividends paid for the year 1940 amounted to P2,756,653 less than the cash dividends paid by Philippine mining companies during 1939. This appears to be due either to lower millheads or to rising production costs and capital purchases for additional equipment essential to expansion, or to both causes. As the Commonwealth imposes a tax on gross production, the government is the primary beneficiary from higher output. This should not be grudged as long as the investor gets a fair return commensurate with risks involved in mining ventures. Philippine gold production during 1940, the review shows, was 1,100,001 ounces; from lode, 1,072,001 ounces, and from placers, 28,261 ounces. The total value of the production was P76,834,425, 6.45%o above 1939. Nine new lode mines began operating during 1940, Batong Buhay in the north and Davao Gold Mines far south in Davao the THE LATEST DESCRIPTIVE CATALOGUES ON REQUEST EXCLUSIVE REPRESENTATIVES MANILA MACHINERY & SUPPLY(CO., INC. 675 DASMARIRAS MANILA TEL 2.24-58 TEL. 2250 BAGUIO 18 The American Chamber of Commerce Journal June, 1941 (

most important. The average value of gold ore milled by all mines in 1940 rose somewhat over the same value for 1939; it was P16.81 in 1940 aid P16.19 in 1939. The Chamber of Mines says that the value of Philippine base metals shipped abroad rose 29.9%o over the same value for 1939 and reached the sum of P14,009,121. Included were chrome ore, copper ore, copper concentrates, iron ore, manganese ore, aid lead concentrates. Seven chromite mines are listed, that together in 1940 shipped more than 196,000 tons of ore valued at more than P2,600,000 f. o. b. shipping points. The homeland took 81 % of the chrome, Japan 16.5 %.o Philippine copper production rose 49 % during 1940 over 1939's figures. This is chiefly attributable to the expansion of the Lepanto Consolidated output, the largest copper property in the Islands. Iron ore shipments were 1,236,206 tons valued at P5,564,992. This is 13.2% above iron ore production of 1939. The small quantity of lead concentrates exported was byproduction from gold ores. Exports of Philippine manganese in 1940 were more than double those of 1939; their value in 1940 was P1,420,389 compared with P602,823 for 1939. The homeland took 88.6% of this manganese, i. e., the 1940 out put, and Japan 8.7%o. The review notes that the mining industry employed 42,931 men during 1940 and paid out in wages P21,984,914. It is asserted that average wages in mining are higher than wages averaged in other Philippine industries; mining paid average wages of P1.39 in 1939. The government received approximately P7,447,615 in taxes from the mines during 1940, some 8% of the total production; from gold, as it is reported, some 52 centavos per ton of ore milled, and from base metals, 31 centavos per ton. The Philippine mining industry also spent P36,660,000 for materials and supplies during 1940, exclusive of timber, where purchases summed P4,866,162 more. Here too the government benefited from additional taxes, and local shipping and transportation companies enjoyed a lucrative patronage from the mines. The review of the Chamber of Mines of the Philippines deserves high praise from all who are interested in the Philippine mining industry for its clear presentation of data. It might be a further improvement to set out certain of the data in graphic form along with the tables of figures, in order that salient trends may be visualized quickly. Im' Off The... Continued from page 13 endangers the Christian conception of life to those who participate in it." And still there are some Americans who maintain that we should be fence-sitters, indifferent to the issue of war. Is it any wonder that Dante described the fate of the angelic fence-sitters in these words: "stung by wasps and hornets, their cheeks were bedewed with blood, which, mixed with tears, dropped to their feet and was consumed by loathsome worms." There are three nations to which I wish I could speak in person. The first is Ireland, the land of my fathers, which I love with all the passion a man dare love any nation not his own. To this long-suffering people, I would say: "We of Irish descent in America know that you will not desert other small nations in thefr hour of trial. We Irish-Americans have loved and defended you. We shall ever work for the peace and security of your country. Bul the Irish heart is magnanimous and we trust that feelings aroused by past injustice will not work havoc with the cause of freedom in the world." And to my fellow-Catholics in Italy, I would say: "The people of Italy have no [Continued on page 36] Li VENGINEEERING EVQUIPM1ENT AN D SUPPLY CO. (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies <^^ cua. S'^ General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Shop Tel. 5-67-7b Mandaluyong, Rizal Office Tel. 2-41-41 DEALERS IN: DUPLEX AND TRIPLEX PUMPS SHOVELS. BUCKETS, CRANES MINE WOOD TANKS STEEL TANKS AGITATORS, THICKENERS ROCK DRILLS PRECIPITATION EQUIPMENT MERRILLITE ZINC DUST PUNCHES, SHEARS WOODWORKING MACHINES ROTARY FILTERS MARINE DIESELS EXPLOSIVES POWER BOATS OUTBOARD MOTORS WELDING RODS MELTING & TILTING FURNACES HACKSAW MACHINES TROLLEYS DIESEL LOCOMOTIVES DRILLING MACHINES CONVEYORS RECORDING INSTRUMENTS ELECTRIC TOOLS ELECTRIC MOTORS BALL MILLS CONTOUR STEEL CUTTING MACHINES AIR CONDITIONING EQUIPT. MECHANICAL PACKING LEATHER BELTING VEE-BELTS BRONZE BUSHINGS CARBIDE LAMPS PNEUMATIC TOOLS TUBULAR BOILERS ALLUMINIUM CASTINGS SURVEYING EQUIPMENT LOGGING EQUIPMENT MINE HOISTS STATIONARY DIESELS BLASTING SUPPLIES PROPELLERS ROAD ROLLERS WELDING EQUIPMENT WATER, OIL & GAS METERS VALVES OF ALL KINDS SHAPERS, LATHES BELT HOOKS MAGNETIC SEPARATORS SAWS, SAWTEETH THERMOMETERS GRINDERS GENERATORS OIL BURNER EQUIPMENT CABLE CLIPS REFRIGERATION EQUIPT. ELECTRIC WELDERS TRUCK AND MINE SCALES CENTRIFUGAL PUMPS CONCENTRATING TABLES FLOTATION CELLS MINERAL JIGS VACUUM PUMPS 9IRE FIGHTING EQUIPMENT BLOWERS, DRILL PRESS COM PRESSORS CIRCULAR SAWMILLS PILE HAMMERS GASOLINE ENGINES NAUTICAL INSTRUMENTS STUFFING BOXES TURBINE PUMPS ELECTRIC HOISTS SHEET METAL TOOLS BABBITT METALS DRILL STEEL CHAINS, WINCHES CRUSHERS, SCREENS MINING PICKS MINING SHOVELS CONCRETE VIBRATORS ELECTRICAL APPARATUS DREDGES OF ALL KINDS LOGGING BLOCKS CONCRETE MACHINERY HOISTS FOR DUMP BODIES I [ The American Chamber of Commerce Journal Jolte, 1941 19

Idyll Of The Small Gold Property Off-shift ruminations together with inveigling landscape descriptions by a young American who, with his partner, is developing a small gold property in the heights of Luzon's higher mountains. - By Robert K. Carleton ------ Because of their very nature, it is the professions which have held out longest against a growing tendency toward regimentation and standardization of the individual's status in the American social and economic structure. A thousand dovetailing circumstances, however, have prevented the average professional man from doing a great deal about it; after a full day's work, he is generally willing to leave the sociological pondering to others and take his wife to a movie or shake for a couple of drinks with "the boys." But many a doctor, teacher, newspaperman or engineer has, upon selfexamination, been appalled to find himself a minute functional cell in some vast organization which makes use of his talents and knowledge in a manner far different from that which he fondly envisioned in his student days. The medical man may discover that the great institution in which he works has gradually, imperceptibly, apportioned to him a practice which is unchanging in its monotony-he may get nothing but broken wrists or cracked heads for months on end. The reporter or feature man on some "... the galvanized iron shack which is our mess house, mine office, drafting room, company store and infirmary..." Inset, the author. humming big-city daily who perhaps went to work there years ago with colorful visions of his hand on the throbbing pulse of the metropolis A view of our main workings. finds that he has been assigned with uncommon regularity to a certain type of story; his editor may have decided that he is invariably the man to cover automobile smashups, minor labor disputes, or the refinements of wife-beating cases. And so it is with mining engineers: the man who at the school of mines pictured himself developing new methods, exploring new deposits in far corners of the earth and making a name for himself in the profession finds it impossible to extricate himself from the endless round of onshift, off-shift in his particular section of a large mine at which his name appears in small type on the list of staff members. All these men, therefore, have their particular collective dream, as much an occupational disease as silicosis or writer's cramp: the hospital doctor hopes some day for an individual practice and his own office; the newspaperman yearns to kiss his beat goodbye and set himself up a small paper in some growing cornmunity; the engineer itches to get his hands on a small, promising prioperty, the affairs of which he alone will direct. Here in the Philippines, the engi 20 The American Chamber of Commerce Journal June, 1941 (/

neer stands a far better chance of satisfying his particular itch than do thle members of the other professiolls. A little more than a year ago, my friend Ramsay and I identified ourselves with a small and very promising prospect in a remote and inaccessible district of the Mountain Provirnce. Aside from a sawmill operator a few miles away, we are the only t Aw o Americans in the district. "Ramsay" (not his real name) is a youngish engineer of wide experience whose abilities I have frequently heard praised-out of his hearingby his professional brethren-and they are not a breed given to tossing scented bouquets at each other. I am not an engineer, nor can I yet call myself an honest-to-God miner. When I first came to these claims I thought a raise was something to consider asking the boss for; muck was merely one of the more sordid weapons of a political campaign; drifting, an itinerant way of life. I know better now, but when geology is under discussion I keep quiet, assume a judicial expression, and look into my dice box. The property is not ours, nor do we hold any financial interest in it; our job is purely and simply one of management and development. So strong, however, is the pull of affinity which a property of this kind can exert, that with the unvexed procession of the days we have found our own interests identified uncompromisingly with those of the undertaking in which we are engaged. Every foot of advance, every good-looking outcrop, every sample result has become as significant to us as it would be if we owned the property lock, stock and barrel. "Our" claims lie sprawled in some of the roughest, most beautiful country I have yet seen. The air here, washed and scoured by torrential rains, seems like a tangible and fragrant substance. Sounds come clear and sharp for amazing distances; the steamy labored pounding of the loggers' donkey engine thousands of feet away on the green valley floor, the clank and tinkle of a miner's lamp being carried on a trail far above the camp, the heavy thud of a discharged round in a distant tunnel, all carry cleanly and without distortion. Distances, too, seem com Pressed into a sort of stereoptican clarity peculiar to mountain regions; to the northeast, range upon range of smoky-blue peaks stand out sharply as the wings of a stage set; to the Southwest we see a section of the broiling lowlands laid off neatly in halves by the carpenter's chalk-line Which is the Manila road. The transport problem, which w-.ould otherwise be acute, has been solved for us by our good and generous neighbor, the sawmill operator. Our supplies come in over his aerial lumber tramlines, one of which has its terminus near the camp in which we live. Without this neighborly service, every tool, every can of food, the explosives and all necessities would have to be packed in by cargadore over some 14 kilometers of rough mountain trails. We employ about 40 men and all mining is done by hand. Of necessity, we are in far closer contact with the men than is customary on larger properties; each man is well known to us. When a timber lands on his hand or he is scraped between car and drift, he comes to the galvanized iron shack which is our mess house, mine office, drafting room, company store and infirmary and gets the iodine-and-bandage treatment which represents the zenith of our medical facilities and is standard for all comers. We have come to know, too, a good many of the individual traits and qualities of our payroll. That Tayen is inclined to be a little partial to Rocking Contact Type Requires no Renewal of Parts Allis-Chalmers Automatic Regulator Forty-one regulators sold in nine years to the following industries, all obtaining close regulation:Mines...... 10 Sugar Centrals 19 Cement Mills 3 Lumber Mills 2 Others..... 6 Hand Regulation Examine t h i s chart and you will note what an improvement t he automatic regulator w i 11 make in your plant. THE EARNSHAWS DOCKS & HONOLULU IRON WORKS P. 0. Box 282 60-118 Second Street, Port Area Cebu Tel. 2-32-13 Manila, Philippines Bacolod The American Chamber of Commerce Journal June, 1941 21

squareface or that Manuel has an unlimited host of relatives in the lowlands who are constantly falling ill and must therefore be visited, that Bonifacio and Alfredo are both lefthanded and should work in the drift face on the same shift, all these things go to make up an understanding out of which a jovial reference to some failing or quality which is common knowledge will work wonders in the way of results and cooperation. When there is a canyao in progress, we know for whom it is being given, the reason for the celebration, the number expected, and, nine times out of ten, the origin of the piece de resistance. The bamboo telegraph, that remarkable news service which puts modern press associations to shame, serves us well. Although we have no bona-fide connections to this mysterious line and are not in the directory, so to speak, news on a surprising variety of subjects reaches us with a rapidity that is incredible. We are some 35 kilometers from Baguio and for half this distance there is no road, no telephone, but we get the news just the same. For matters of a more international scope, however, we rely on a battery radio. Opportunities for individual initia. tive and the practical application of engineering knowledge are virtually unlimited in a two-man project of this kind. We have 65 claims and Ramsay could probably lead you to any spot on any claim with his eyes shut. He has painstakingly pro. spected each one and knows to the inch where certain outcrops are located, what their assay values are, and their exact place in the develop. ment program which he has formulated. Many hours of study have been devoted to the geological structure of our known orebodies and calculations made as to the location, strike, dip, rake, etc., of those not yet outlined. L ~ PROTECT THE ENGINES AGAINST WEAR AND BREAKDOWNS BY INSTALLING DE LAVAL CENTRIFUGAL LUBRICATING AND FUEL OIL PURIFIERS Certain problems must be met and overcome without the aid of a machine shop and other equipment which is relied upon as a matter of course in big mines; recently the ventilation problem in a small raise was solved with the aid of the hand blower from an old blacksmith's forge, odd lengths of iron pipe and some ancient rubber hose. Worthy of Major Hoople's higher flights of fancy, but it works. Carpentry, stonemasonry, hydraulics and woodcraft are a few of the other subjects which frequently call for unorthodox ways and means because of our remote location. The days are full; so full, in fact, that although we get out to town only about once a month, we rarely notice the gaps in our social calendar. At night, under the steady hot wheeze of the gasoline lamp, there is mapping to be done, reserves to be calculated, the accounts of the pintsized company store to be gone over, supply lists to be made up, survey and sample notes to be typed, assay returns recorded, and 101 other things which are absorbing and vital to the life of the little property. When it is time to hit the hay at day's end, there is the ineffable satisfaction of progress made, something accomplished, which the man coming off shift in a vast, impersonal organization seldom feels. Sometimes we awake in the still watches of the tropical night and hear the thousand tiny night-sounds which are more quiet than silence, smell the sweet foreign air, heavy with the collective scent of a million green damp plants, and, thinking pleasantly of work planned for the next day, sleep again. Speak to us not in mournful numbers; give us a small property. I ALWAYS CHOOSE DE LAVAL PURIFIERS THEY GIVE THE HIGHEST DEGREE OF SEPARATING EFFICIENCY 0 Sole Agents KOPPEL (PHILIPPINES) INCORPORATED ILOILO MANILA CEBU 22 ( The American Chamber of Commerce Jour"al June, 1941

The Stock Markets By Ovejero & Hall price comparisons of the more active issues show. MANILA-May 15 Domestic considerations have occupied the spotlight in the Stock Exchange during the past month. Traders have largely ignored the war as a market factor, other than to develop mild optimism at the apparently less hostile attitude lately displayed by Japan. Recent Tokio trial-ballooning is but the ebb and flow of the main tide. Day to day developments have little meaning unless accompanied by more positive manifestations of genuine good will, and this is pretty thoroughly appreciated in market circles. The improvement during the period, therefore, is mainly attributable to a combination of excellent developments within the Mining Industry itself, plus the strong technical situation of the market itself. Mindanao Mother Lode has had a substantial rise based on a find of bonanza propositions. This has subsequently stimulated buying of other favorably placed issues, but demand has been, on the whole, selective as the following closing April 15th May 15th Change Acoje 10~ 13-1/2 +03-1/2 Atok Gold 26 27 +01 Benguet Conso. 3.20 3.00 -20 Itogon 15 18-1/2 + 03-1/2 I. X. L. 24 22 -02 Lepanto 14-1/, 17-1/2 +03 Masbate Conso. 9-1/2 8-1/2 -01 Mind. Mother Lode 10-1/2 22-/2 +12 Surigao Conso. 18 18 Unch. United Paracale 13-1/2 16 +02-3/4 Activity was well maintained, total number of shares traded from April 16th to May 15th inclusive amounted to 8,330,536 shares valued at P1,152,020.-compared with 10,256,048 shares valued at P1,038,054. -the previous month. As in past months, war imponderables and increasing complications, with the emotionalism which these conditions induce, will continue to be the principal market factors in the near future. However, it is to be noted that the domestic situation continues to show improvement. Copra prices, in sympathy with the inflationary trend of Commodities in U.S., have registered a sharp rise over the past two months and this will help general business conditions if maintained. Other export commodities appear more likely to show advances than otherwise over the near future. The basis is, therefore, being laid for a substantial improvement in equities when and if an improvement in the world picture occurs. NEW YORK-May 15 Stock prices have continued their slow, irregular retreat in the face of war and tax uncertainties, plus the accelerated transition of the domestic economy from a peace to war basis. Activity has continued at a low ebb, and not a single million share session has been registered. Market fluctuations as registered by the closing Dow Jones Industrial and Rail Averages have been as follows: April 15 High Low May 15 Change Industrials 118.59 118.60 115.80 115.73 -2.86 R a i 1 s 27.95 29.31 27.72 27.77 -.18 The Rails have not acted well latterly, after sustained firmness over [Continued on page 28] IL Not WHOOOOO-0 EiY But WHAT IS THE MAGIC "Z"? The PennZoil "Z" is a symbol of Motor Magic! Your Car Will Z-ZOOM with Z-ZEST and Z-ZIP. Give your motor an extra margin of safetyby changing to tough-film Pennzoil Motor Oil and Lubricants. MPEIOIL) MARSMAN TRADING CORPORATION Philippine Distributors Port Area Manila Tel. 2-48-11 I I KUENZLE & STREIFF, INC. Main Office: 343 T. Pinpin Tel. No. 2-39-36 MANILA Branch Office: CEBU ILOILO 44-48 Isaac Peral ZAMBOANGA Tel. No. 2-17-62 ZAMBOANGA = — ~~~~~~I-,1' -4'I ican Chamber of Commerce Journal Juk^t, 1941 23

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940, complete and for the first 4 months of 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. I IXL MINING CO. NORTH CAMARINES BAGUIO GOLD BIG WEDGE IPO CAL HORR EAST MINDANAO SURIGAO CONSOLIDATED I 120-1 EL t - JA — -— 1 i ANTAMOK

SUYOC COCO GROVE DEMONSTRATION 24 ===- - M -— ~ Z-L,- - 114wi1 —~ --- I Aft- - -F I 1 — L 2QOO( MINE OPERATIONS CAPSAY MINDANAO MOTHER LODE PARACALE GUMAUS 1000 '-% The Mining Industry-Tabulated Statistics Courtesy-Chamber of Mines of the Philippines MARCH 1941 APRIL 1941 TOTAL PRODUCTION CAPITAL DIVIDEND MINES MINE;~S Tonnage Value Average Tonnage Value Average 1941 1940 Authorized kaid Up 1941 1940 Antamok Goldfielua 20,492 P 239,671.01 P 11.68 19,586 P 213,009.54 f10.88 i' 452,690.55 P 208,731.49 f3.000,000 r2,760,000 -.01 Antipolo 428 23,936.00 55.92 515 18,191.50 35.32 42,127.50 - - Baguio Gold 1,269 196,080.92 15.,> 12,555 196,655.46 15.66 392, 26.38 185,468.28 2,000,uuO 1,299,00.01.03 balatoc 66,921 1,161,223.08 17.35 65,372 1,091,926.62 16.70 2,253,149.' o 1,092,478.52 6,000,uuu 6,000,000.20.70 Batong Buhay 4,313 168,489.66 39.06 4,599 154,166.~5 34.19 340,656.11 - -- Benguet Consolidated 40,873 918,003.70 22.45 39,,o9 932,9J0 58 23.48 1,850,904.28 933,185.90 12,000,u0o 12,000,000.15.66 Benguet Goldfields 1,806 33,056.00 18.30 1,196 16,212.00 13.56 49,268.00 79,258.52 200,000 200,000 - - Big Wedge 4,679 182,126.70 38.92 4,893 197,729.3o 40.4i 3 9,856.08 155,119.54 2,000,000 777.612.10.01.04 Cal Horr 8,040 130,830.64 16.27 7,633 104,957.22 13.75 235,'l87.86 109,814.30 $v1-OLLY UWNED BY B.C.M. CO. Capsay 5,197 58,547.61 11.26 5,261 64,700.78 12.30 123,248.39 105,787.54 1,000,000 1,000,000 - Crown Mine, 384 4,359.00 11.35 655 8,756.00 13.37 13,115.00 594.43 1,UU0o,00 636,000 - - Davao Gold 4,119 93,408.47 22.67 3,36 96,231.00 24.45 189,649.47 - - Demonstration 5,010 84,633.00 16.89 5,414 74,074.00 13.68 158,707.00 30,228.33 1.000,000 1,000,000 - _ East Mindanao --- - -80,175.64 1.(000.0 920.000 - Gold Creek 777 19,932.36 25.65 856 23,443.00 27.39 43,o'5.33 22,875.46 1.U00.000 700,000 lpo Gold 6,000 61,543.96 10.25 5,245 44,515.84 8.49 106,059.80 58,173.74 1,00U,UOO 819,693.70 - - Itogon 27,086 451,747.16 16.67 26,748 516,890.75 19.32 968,637.90 428,454.58 2,500,000 2,500,000.01.04 1. X. L. 12,638 251,790.48 19.92 11,680 248,324.34 21.26 500,114.82 235,065.76 1.500,000 1,500,000.02.08 Masbate Consolidated 92,416 533,684.78 5.77 70,95(; 475,366.96 6.70 1,009,051.74 526,004.50 5,000,000 5,000,000 -.02 Masbate Goldfields - 172 1,731.18 10.07 1,731.18 - Mayon Mining...- - 1,734 30,387.54 17.52 30,387.54 39,468.73 - - Mindanao Mother Lode 7,150 220,662.00 30.86 6,782 319,141.6o 47.06 539,803.6o 15,,463.26 _,Vuu,uuU 1,130,000.01.01 Mineral Resources 3,810 59,440.05 15.60 3,637 38,617.94 10.62 98,057.99 29,008.49 2,000,000 1,160,149 - - North Camarines 3,306 93,148.87 28.17 3,122 88,376.86 28.31 181,525.73 190,910.70 1,000,000 1,000,000 - - Northern Mining 2,569 57,062.36 22.21 1,407 47,6;1.09 33.85 104,693.45 56,070.00 ~ - - Paracale Gumaus 6,433 158,425.54 24.62 6,378 161,625.94 25.34 320,051.48 141,778.22 500,000 500,000.025.045 Paracale National 1,195 22,236.78 18.61 1,083 17,274.62 15.95 39.511.40 18,859.74 1,000.000 848,600 - San Mauricio 17,160 441,818.15 31.56 16,762 442,449.83 26.40 884,267.98 533,008.01 2,000,000 2,000,000 -.07 Santa Rosa 5,920 112,519.83 19.00 5,353 120,060.21 22.43 232.580.04 58,422.18 1,500,000 1,500,000 - Surlgao Consolidated 11,757 250,802.00 21.33 10,567 212.286.00 20.10 463,188.00 150,316 00 1,200,000 1,022,975.01.04 SUyoc Consolidated 7,408 179,767.30 24.26 7,387 185,641.20 25.13 365,408.50 166,408.50 1,250,000 1,250,000.005 - Treasure Island 8,078 208,431.26 25.80 7,454 185,055.40 24.83 393,486.66 83,636.36 -- -- United Paracale 11.018 285,358.06 25.89 11,067 293.973.89 26.56 579,331.93 254,762.74 1.O00.000 1.300,000.01.02 PLACER Coco Grove 349,700 163,493.38 0.46 312,425 145,722.95 0.47 309,216.33 113,324.41 1,6500,000 1,500,00.005.015 Tamhis 43,818 19,023.00 0.43 37,550 10,425.00 0.28 29,448.00 6,507.00 - - - BASE METAL Lepanto 9,610 227,506.92 23.67 12,045 256,955.20 21.33 424,462.12 182,275.17 1,750,000 1,05.,000 -.085 R:ixbar 3,499 148,438.39 42.42 4,544.6 159,556.46 865.10 307,994.85 55,510.00.01.04 Consrlidated Mines 8,500 102,000.00 12.00 7,000 84,000.00 12.00 186,000.00 - - The importance of the Philippines as a pines supplied nearly 10,373 tons, or about owns chrome ore deposits which have a cursource of supply to the United States is 15 per cent. Most of th2 imports came rent production of approximately 300,000 made evident by figures released by the from South Africa and Rhodesia, which be- tons annually. Production could be in1ur au of Foreign and Domestic Commerce, tween them furnished 50% while Turkey, creased if rail transportation permitted, but whicih show that during November the formerly of prime importance among it does not seem likely that the present outUnited States imported from abroad 70.314 chrome producers, contributes less than the put can be enlarged until this difficulty is tons of chromite ore, of which the Philip- Philippines. The Rhodesian Corporation solved. The Airprican Chamber of Commerce Journal June, 1941 25

R. Bergman, general superintendent of the Santa Rosa Mining Company, has been in Manila. * * * J. M. Carpenter, on the operating staff at Lepanto, has sailed for the United States with his family for a short vacation. * * * - I ' CUT REPAIR BILLS IN HALF! with this new motor oil NGINEERS say approximately L 4ths of engine wear is caused by STARTING. Golden Shell cuts down this damage because it's a newtype FAST-FLOWING oil. It starts flowing when you step on the starter. Yet it's TOUGH -so that it resists high heat without forming sludge and carbon. Really two oils in one. Drive in today, change to Golden Shell and begin saving money on repairs. Golden Shell MOTOR OIL 1HE ASIA11IC PETROLEUM CO. (P. I.) LTD. Ward Graham, general superintendent of Baguio Gold mine, made a professional trip to Paracale to examine mining properties. * * * Philip Holmsworth, mill superintendent of Mindanao Mother lode, has returned from the United States to resume his position at the mine. * ' * Wm. De Carbonel is now general superintendent for Luzon Stevedoring Company at their manganese properties in Coron, Busuanga. * * * George York, formerly of the operating staff of Mindanao Mother Lode Mining Company, has resigned his position to enter U. S. Government service at Cavite. * * * Harry Burmeestee, has returned by Clipper to the Philippines from the United States to superintend important work for the Government at Manila. * * * D. Mackay, general superintendent of Mindanao Mother Lode, and F. Varney, general superintendent of East Mindanao Mining Company, were Manila visitors on business for their respective companies. * * * Victor Vargas, mill superintendent of the Treasure Island Mining Company, made a trip to Surigao in the interests of his company. * * * L. F. Lang is general superintendent and 0. F. Fleshman is his assistant for the Mindanao Mining Company now operating a drag dredge on the lower Tugunan near Surigao. * * * "Doc" Haley, and H. Lindblom have been developing a gold property near Iligan in western Mindanao with encouraging results. * * * John O'Day, formerly in Paracale, and R. H. Hanson, formerly with Philippine Engineering, are now in the mining and milling departments, respectively, of the Acoje Mining Company in Zambales. * * * J. M. Flanagan, of the Sullivan Machinery Company, made a business trip to the Surigao mines during the month. * * * J. B. Harrison, general superintendent of Surigao Consolidated Mining Company, spent a week in the Cagayan field on examination work. * *: H. J. Saye, formerly on the operating staff of International Engineering Cor. poration, is now mill superintendent of the Gomoco Mining Company in the upper Agusan country. * * * Jack Newsom, formerly with the Engine. ering Equipment & Supply Company, has been acting mill superintendent at Min. danao Mother Lode Mining Company at Surigao during the absence of Philip Holmsworth, who has been on vacation in the United States. "Red" Plowman, for. merly at Tuba Mines, Paracale, is now shift boss at the same property. * * * F. E. Johnson, general superintendent of the Lepanto Copper Mine, made the Southern Island's trip accompanied by Mrs. Johnson. His friends are gratified that he has quite recovered from his illness. * * * J. E. Fife, who has been engaged in prospecting and examination work in Mindanao during the past six months, has returned to Manila for a short period. * * * J. E. Gates, London manager for American Cyanamid Company, and J. O. Malley, Australian representative of the same company, after spending two weeks here visiting the mining fields, have returned by Clipper to the United States. Prior to their leaving they were the guests at a despedida given in their honor by W. F. Boericke which was attended by a number of prominent mining executives. * * * W. F. Boericke and N. N. Lim, valuation engineers of the Bureau of Mines, were engaged in work at the Mindanao Mother Lode Mine during the month, and were joined later by Q. A. Abadilla, director of the Bureau of Mines, and R. Crump, geologist for the Bureau in the Surigao field. Together they travelled by launch to the new Gomoco mine in the upper Agusan country where they examined the property as guests of Merle Schrock, general superintendent. * * * G. T. Gerringer, well known mining engineer from Baguio, has been engaged for some months in supervising construction work on the new De La Rama mine San Isidro, located about 4 kilometers from Lake Mainit in the Surigao country. Mr. Gerringer expects to have his 25-ton mill in operation within a short time, when be will return to Manila for a wellearned vacation. i 26 The Amertca/n Chamber of Commerce Journl June, 1941 /

Announcing ^C% MORE MILEAGE IN THIS NEW GOODRICH TRUCK TIRE I Here's Proof of Free Miles Take a piece of paper and cover up all of the cross-section drawings of these two tires except the treads. Note the amount of rubber above the cords. See the extra volume of rubber available for tread wear in the tire on the right. That's the new Speedliner! This new tread construction alone (one of four improvements) means thousands of extra miles of serv IV Il i...at No Extra Cost On one truck operation after another the new Speedliner Silvertown is today delivering 25%o more mileage than even our own great 1940 B. F. Goodrich Silvertown! Here is no empty promise of "more mileage" but a plain statement of facts from service records. Now made public during the B. F. Goodrich Jubilee celebrating 70 years of being first in rubber. Thiis new tire has far more rubber in the tread. But if you merely build up the tread you run the risk of overheating. So B. F. Goodrich engineers threw out the old idea of floatiing breakers, put the breakers between the plies in a new reinforced tread foundation. Then they wrapped a special ply around the entire carcass to distribute stresses and strains, reduce heat. With these improvements they were able to put on a real truck tire tread-a thicker, deepercut, flattened tread with a wealth of extra rubber placed to give you extra wear. And the compounds in both tread and body are now fortified with B. F. Goodrich Dunamin, the amazing chemical discovery that prolongs tire life. Why not be among the first to get the benefits of these new truck tire features-benefits that are cutting tire costs for other users? Call your B. F. Goodrich Dealer or Goodrich Silvertown Store. T Goodrich -pi - Silvertowns FOR TRUCKS AND BUSES GOODRICH INTERNATIONAL RUBBER COMPANY Iloilo MANILA Cebu

I Here's how to get Manilas Genuine Manila Long Filler Cigars in (cellophane are obtainable in your city or nearby! List of D i strib utor s furnishe4 upon request to-_ i The Stock Markets Continued from page 23 mosc of the month. The softness arises from anticipated wage demands from the Railroad Brotherhoods. This weakness in the group in which market leadership has been vested is a negative sign which may well induce further caution and uncertainty. During recent months, we have frequently expressed the view in this column that the technical action of the market over the past few months is suggestive of higher rather than lower prices to come in the future. Historically, it is to be noted that Bear markets have ended at a time when the general outlook was most disconcerting with nothing to justify an improvement in stock prices. A rising stock market has, hitherto, been associated with a coming expansion in the rate of industrial activity because this has meant higher profits to come. These days, Industrial activity has broken, and is breaking all previous index records, but great uncertainty prevails as to whether price ceilings, labor demands, present and prospective taxation will not result in profitless prosperity. Mainly on this triple squeeze premise, a well known financial advisory service has recently cabled its clients counselling the sale of all securities, anticipating a decline in the Dow Jones Industrial Average to around the 80 level. While subsequent events may prove the correctness of this opinion, history has a habit of repeating itself, and, out of situations such as the present, important reversals in the price trend have occurred in the past. The extreme dullness accompanying the small retreat of the past two or three months is not suggestive of broad liquidation in the offing. Inflationary forces continue to ga. ther momentum, as witness the sharp rise recently in farm commo. dities under the stimulus of high government parity loans. Increased wage demands are the crux of the situa. tion, as the inflationary spiral be. gins with wages. In this respect, it is estimated that of the recent Gen. eral Motors 100 per houe wage in. crease, under present tax laws, the government will pay 7P, or possibly more under a new tax law. The main question, therefore, is how to control inflation when the government is l)ermitting it at its source. Will it be curbed by enforced savings schemes, or at the total expense of profits? Viewing the problem of future security trends from another angle it is to be observed that under certain circumstances, money flows into the stock market for the reason that it has no where else to go. The course of the London Stock Exchange despite declining corporate profits, is an illustration of this. The U. S. is not an active belligerent, of course, but none can deny that the present status is not likely to change. As the "Trader", writing in a recent issue of "Barron's" points out, the most powerful speculative factor may well be the ratio at which earning power is capitalised and not growth of profits as in normal times. Who can say these days what future occurrence can cause Investors to revise the multiplier of profits in an upward direction. According to Dow Theory, the status is that of a secondary downtrend in a primary bear market. I PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. COLLECTOR OF INTERNAL REVENUE Manila, P. I. M ANIL A S made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;.... INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents l. l. tLSA E INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 28 ( The American Chamber of Commerce Joumor June, J941

Local and United States: P4.00 per yea, Foreign Subscription $3.00 U. S. Currency, per Subscription Single Copies: 3 5 centavos WALTER ROBB Editor and Manager Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things One of the elevator operators of the Heacock elevators is a young man named Gutierrez. Riding up alone with him one day, we noticed he had a book tucked back of the guard rail. We ask what book, and it turned out to be a text on the Calculus. Next time we'll know enough to keep still. * * * American President Lines are bowing in response to recent kudos garnered. The President Coolidge has won the safety award for 1940 bestowed by the Accident Prevention Bureau of the Waterfront Employers' Association at San Francisco, competition being based on efforts to minimize the number of disabling occupational injuries among the ships' personnel. The ship flies the coveted safety pennant, the only passenger ship on the Pacific in 1940 to win the privilege. She's the line's flagship, as all Manilans know. Then too, Engineer Cadet L. M. Brittain of the President Tyler, a New York young man 23 years old, has ranked honors as American President's outstanding cadet with top rating, 98.5, from the Maritime Commission, the record grade thus far earned among cadets since the commission began its cadettraining sponsorship a number of years ago. * * * Don Bell is so generally popular as a news announcer over station KZRH that we feel like telling our readers a little about him. He is dark, tall and so on-rather good looking, in fact-about thirty years old, married and the father of some charming little girls. He's also a Kansas boy; yep, one of those ubiquitous Kansas types. In his nonage on a farm near Hutchinson, a junction point on the Santa Fe, he exercised those remarkable vocal cords calling the hogs; but his father called him off, moved to Hutchinson and sent Don to highschool with a view to turning him into a lawyer. In highschool Don went after English and dramatics, and got a good hand in all the debating. But he didn't go on into col lege and a law course, wanderlust got hold of him and he went to Colorado, eventually clear to California, whence it was only a step, by way of a niarine enlistment, to Shanghai. He had, of course, in Hutchinson, done some newspaper work, and this he took up once more at Shanghai. It was when the lid blew off there, July 1937, that he got his chance at the mike. It was a case of pinch-hitting, the regular announcer keeled over after some 36 hours of telling the world what Japanese shells were doing to the city. You know the rest, Don came here about 3 years ago and KZRH found him in Heacock's ad department. * * * When the Tondo fire of May 3 was 2 weeks past we stepped in to see the Singer people about what such a fire had done to them. Some 400 sewing machines not yet fully paid for were involved. (Many others had been paid for, the company knows nothing about them). When we talked with the manager of the Manila district, I WARNER, BARNES & COMPANY, LONDON-MANILA-ILOILO-CEBU-BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGERS OF LTD. COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY INSURANCE DEPARTMENT Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT Sugar Machinery, Diesel Engines and Mining Machinery Agents for: Hongkong & Whampoa Dock Co., Ltd., Hongkong. MINING DEPARTMENT General Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines. Inc. I X L Mining Company Mlsbate Consolidated Mining Company North Camarines Gold Mining Company Paracale Gold Mining Company Paracale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUILDING, Plaza Cervantes. SHIPPING DEPARTMENT Agents for: Nippon Yusen Kaisya Cunard White Star, Ltd. Bibby Line Special Representatives of BRITISH OVERSEAS AIRWAYS CORPORATION AGRICULTURAL DEPARTMENT All Classes of Fertilizers IMPORT DEPARTMENT I Sperry Flour Sugar Bags The American Chamber of Commerce Journal June, 1941 29

they had got track of about 200 of the 400 machines in which their equity was still running and were trying with indifferent success to track down the other 200. If a machine is lost by fire and this loss is established, the company cancels the purchase: no more payments need be made. The head, from which the table has been burned, is evidence that fire really destroyed the machine. The trouble in many instances is that junkmen rummaged through the burned area gathering iron, including these machine heads, so now it is a question of lesser evidence. Every day one or more buyers telephones in, or calls, to say that their machine was saved and is in the home of some relative, whose address they give. In contrast to this, some have said their machines were burned and investigation has turned up the machines in relatives' homes, undamaged. Incidentally, machine sales are somewhat affected by excitement among the people about the probability of war striking the Philippinesso the management thinks, and it is true of other business. In Japan and Japanese territory, war has already reduced the organization to a skeleton. Fourteen Americans have been moved to other stations and offices are maintained only in Tokio, Keijo (Seoul), Mukden, and Taiwan. Reasons are war controls of imports and exchange. All companies had about the same experience, even Japanese companies. * * * When Ernest Hemingway was in town we had one bull session with him and learned a lot about him that we like. He really bears acquaintance; he is 41 years old, and insatiably interested in human beings. We guess everybody knows that he hails from Oak Park, at Chicago, and that his father was a doctor. With all his admiration of the Spanish people, he has never been in Mexico, and that may be his next stop-over. Most of his years in Spain were spent among the Basques, and so were most of his hours in Manila. The jai-alai players are Basques, several of whom Hemingway had known elsewhere, in Pamplona, where he did his bullfighting, or Havana or New York. He also looked up Recolletos who are Basques: his ideal of all men is a good priest, "they don't come any better in any package." We think he is right in this, extending the term of course beyond sectarianism. He had a gift from one of the fathers, a Napoleon brandy 80 years old. You can bet that the fathers had a gift from him, since he is all heart and soul. He fights no more bulls, but he still ranks the sport tops and has a son growing up in it. The academy might lift eyebrows at his Spanish, but it runs along like a garrulous brook and words never fail him, nor picturesque phrases. He likes singing Basque folk songs and he and the Basques seeing him off on the clipper sang them all the way from the Manila Hotel to Cavite. His voice is fulltoned and gracious, and in conversation, low, modulated, endued with the man's natural charm. He weighs in at 225 pounds and black hair from finger tips to toes is almost a coat for him. His eyes are black, but nothing about him is harsh. The way his book, For Whom the Bell Tolls caught on, took him by surprise, not that he had not worked over it hard enough. The Scribners are his publishers. Paramount not only paid $100,000 for the movie rights (double the informal agreement among pro. ducers), but there'll be plenty of Hemingway in the making of the pie. ture. Gary Cooper, whom you can guess will play Jordan, helped; and Gary's own terms of work at Holly. wood make him no automaton. Hem. ingway's description of a man he likes is that the man is a swzell guy. Cooper is a swell guy. It's easy to get Hemingway's auto. graph, just ask for it and have a pen handy. (We didn't have to, hooray!), He autographed many copies of his book while he was in town. The book has been pirated at Shanghai, of course; when one of these spurious copies, no royalty to Hemingway, came along for autographing, Hemingway grinned and autographed it. He likes to use a standard typewriter in his work, which he does of mornings, but For Whom the Bell Tolls was not written that way: it was written in longhand. Hemingway uses a heavy stub fountain pen and this longhand of his, as bold as sword strokes, but honestly legible and wellspelled, flows across the paper as straight as a line. Since we were not formally interviewing him, we're not going to add another word. Whether the book is autobiographical or not, you please guess. He was to leave the hotel at 2 a. m. to catch the clipper at Cavite, and midnight approached before he left the Jai-alai skyroom to pack; but a Basque went along to help him, between the pair of them they just got under the wire. * * * Often in past years we were asked to pan the traffic situation at Plaza de McKinley in the walled city where a street-car curve and a narrow street east-west were unusual hazards. We never thought a panning would do the least good, and now we gladly report that the necessary expropriations have been made, the street has been widened and made straight, the carline too, and besidcs that, new buildings are rising. George Edward Koster, Inc. have contracts covering 2 buildings that will soon be completed. The building opposite the plaza will be 4 stories in height, a property of the Tuason Realty Company, where Dr. Manuel Tuason is the moving spirit. Let it be said that never before in Manila's history has this side of the plaza been occupied by presentable buildings; though facing the Cathedral, I I hF if I I I -- 30 The American Chamber of Commncrec Journal Junle. 1'l (

the place was always shabby, up to I pow. On the same side of the street east of calle Cabildo the Manila Terminal Company's building is rapidly coming along, Koster built. It will be a highclass office building 5 stories high. The street these buildings face is calle Aduana; and very apprcpriately, in the case of Manila Terminal, since the name signifies the customs, or customhouse. The street was so named when the customs administration was under the royal intendant, in the Intendencia building, where the treasury and the mint are housed nowadays. For a little more history, the Manila Terminal property is the former site of the Hospital Militar of the Spanish period, destroyed in the earthquake of 1863, since which date, save for a temporary posada and a fleeting period as Charlie Salmon's wee-golf course, the lot has been vacant. The widening and straightening of calle Aduana gives trucks free way between the piers, the customhouse, and the bridges. We ran into William Royal "W. R." Giiberson for lunch a week or two ago, when he was up from Cebu seeing his doctor about a new pair of glasses for his eyes, and when we did so we decided we would do a little rote about him because he is so well known and well liked throughout his territory, the Bisayas and the southern islands. Cataracts have been his trouble of late years; first one was removed and then the other, and now, with glasses to fit, he is all right again. His general health, save hypertension, has been hale all along, and now this signal too shows a green light. Mr. Giberson is a very pillar of the American community at Cebu, or, it is no doubt safe to say, of the Cebu community as a whole. Lately Mr. Giberson has been the administrator of the estate of the late Governor (of Sulu) James Fugate, decapitated by nocturnal assassins 2 years ago while in charge temporarily of an Episcopal mission in Cotabato. This being the administrator of old friends' estates and final wills and testaments is a habit with Mr. Giberson, and shows the trust in which he is universally held. His business is that of a merchant in Cebu, and the larger portion of the business is the indenting of orders for other merchants, many of them Chinese. He is able to carry a customer along, and will do so, which Often helps a lot. Mr. Giberson grew up in Illinois, 10 miles from Carlinville, and is a graduate (in journalism) of Northwestern University, class of 1904. On graduating in journalism from Northwestern, Mr. Giberson got a job as city editor on the Carlinville Enquirer. The paper was strongly Democratic and had the county printing, and the young city editor was on the other side, as strong a Republican as was ever born. The Republican paper in Carlinville is the Democrat, but apparently it needed no city editor when Mr. Giberson needed a job. The old editor of the Enquiirer, Clemens C. Lumpkin, is still on the job and Mr. Giberson, as is altogether typical, has a good word for him. If this man has ever fallen out with a friend, it has probably not been his fault. In 1905 Mr. Giberson came to the Philippines in the Bureau of Education and was assigned as a supervising teacher in southern Cebu. Later he was assigned in Mindanao, but he left the service in 1910 to work for John M. Switzer. 1911 was the year the Pacific Commercial Company was organized and the time at which it absorbed the Switzer interests, and for 2 years Mr. Giberson worked at Cebu with the new company. One year he ran a trading boat along the Mindanao coasts, at least PUT W/NGS ON YOUR ADVERTISING^ --- PESO 4/ yve /t a cha6 jqopaces, do th I' INSIDE ADVERTISING on Is M E RALCO STREET CARS NBUSES 4,500,000 PASSENGERS MONTHLY These patrons represent the highest per capita buying power in the Philippines and can be reached through inside bus and street car advertising at much lower cost per thousand readers than any other medium in the Philippines. Meralco buses and street cars cover the City of Manila, Pasay, Pasig, San Juan, Caloocan and Malabon-the most densely populated area in the Philippines. For detailed information and rates, call telephone 2-19-11, Advertising Dep3rtment. MANILA ELECTRIC COMPANY I 134 San Marcelino Manila he American Chamber of Cemwre JomnW June, 194 1 31

the southern coast, and in this way came to know, and to admire grea ly, the pioneer American planters. It was they who developed the plantation methods down there, though with want of backing and want of capital, and others have merely expanded their suggestions. In 1913 Mr. Giberson went with Wm. H. Anderson & Co., and Erlanger & Galinger, and stayed with this connection 8 years. In 1920 he set up independently. Cebu real estate is an interest of his. Plantations also interest him, he has investments in the 2 great coconut plantations in Oriental Negros, Pam plona and Polo, and is an executive in each company. The Elks Club is where you find him when he is in town. * * * Father J. E. Haggerty, S. J., is rector of the Ateneo de Cagayan, in Oriental Misamis, where enrollment will be around 700 students a year hence and the boys get school, board and room and everything extracurricular for P200 a year-the school just about breaking even without funds left over for buildings and general plant, books and that sort of thing. How Father Haggerty and his associates are able to do this is I M - The next time you light a match I partly explained by supplies they get from Bukidnon, a province of high elevations. Potatoes grow well above elevations of 3,000 feet; carrots vield abundantly, so that Chinese send hundreds of crates to Manila, and many varieties of beans flourish, Potatoes sell at 10 centavos the kilo, but this is because transportation is costly; with good roads after awhile, the price should be about 4 centavos, There is a Bukidnon farm to which the Ateneo at Cagayan has fallen heir, about 70 kilometers away from the school, that will raise everything we have mentioned and rice, corn, and other crops-for it is 200 hec. tares in area, 500 acres-but Father Haggerty must await some compe. tent farmer to handle it. Things were pretty well planted up this last season, when Father Haggerty had to get away to Manila and was ab. sent from the farm about 2 months, On his return there, all had gone to pot: weeds were in the rice, bugs had devoured the potato plants, this and that had happened to other crops -only the carrots had defied anni. hilation. Inquiring into this, from agricultural-course graduates, Father Haggerty learned that the bugs took the potatoes because they were plant. ed in the light of the moon. Equally esoteric reasons were causes for destruction of the other crops. But the weeds in the rice, could they not have been cleaned out? Well, it was never practiced! Well now, this wild derris root, it's the finest insecticide in the world; and Father Haggerty showed the young men how to prepare infusions for spraying. On getting back to Cagayan, news followed him that the spray had been tried on the rice, to kill the weeds, and that it had for some reason killed the rice besides! Poland China shoats had been turned loose, and had of course eaten the sweet potatoes first off. Inspection showed that the tractor was broken, besides being exposed to the weather, and hawks had eaten the White Leghorn and Nagoya chickens. If any young man feels himself competent to run, but run well, a fully equipped Bukidnon farm, let him write at once to Father Haggerty. and please inclose ample credentialsAteneo at Cagayan fell heir to this rich farm from the departure of Father McGowan who had got some of the land from the public domain and bought some of it from private owners. He made it a Bukidnoni co0 operative and vocational school. The first season was fine, and each Bukidnon boy in the cooperative received about P225 for his share of The Amperiaew Chamber of Commer-. Jnnrra June. 1941 -..stop and think of the havoc a tiny flame could cause if it got beyond control! It could destroy your house and everything in it. Some things you could replace, but others-never. Take no chances with fire. Keep your valuables in a safe deposit box. Rates are very low. PEOPLES BANK AND TRUST COMPANY 605 DASMARIIRAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac 32 (

the profits. All asked for vacation, and none was ever seen back at school; rich from their first year, they married and lived on their wealth. The next season was not quite so good, each boy had coming to him about P150. But Father McGowvan said each boy should have for vacation only P75, and the other p75 when he came back to school. No matter, P75 itself was fortuneno boy came back to school. A third season went similarly, and since Father McGowan was after all a missionary rather than a husbandman, and this husbandry only served to deprive him of neophytes, he turned in his time and walked off the place: he's back in Washington now. It's a bit of sociology. * * * On the morning, now many months ago, that we drove to the airport to see Charles M. Cotterman * off for America, instead of driving right back home for breakfast we went to call on Superintendent McCann at the Varadero of Manila. It was McCann's predecessor at the Varadero, Charles Aitken, who had given us the lectures in Masonry; stationed at Cavite and assigned to classes in the highschool, we had joined Cavite Lodge No. 2 and Charlie Aitken had been master of the lodge. He was Scotch, goodness knows, but no such Scotsman as McCann, whose conversation is chiefly burr. McCann, we also found, is over-stout; he diets rigidly, makes a bottle of buttermilk his breakfast, and gets round on a cane. His office is an aerie over the Varadero shops, and he supervises chiefly from its windows. But there are crews of skilled workmen at the Varadero, whose owners, the Fernandez Hermanos, through the surviving brother, the exsenator and ex-mayor, Hon. Ramon J. Fernandez, immediately offered the Varadero's services to the navy when international affairs tightened up in the Far East. Senator Fernandez tells us the navy has frequently taken advantage of this offer, and he is very glad to help out. During the World War, several destroyers and even submarines were docked and repaired there. The Varadero encroaches on the naval reservation at Cafiacao and is just a step from the Pan American airport. You pass the reservation gate to get to it. There are 2 slips; one handles ships up to 3,000 tons and the other, ships up to 1,700 tons. The shops were re-equipped after after a year homeside, Mr. Cotterman is now back in the Philippines in first rate health and just t Present, on a summer stay at the Country Club i chamber f Journaguio. IThv Ameriean Chamber of Comndmrce Journal JUne, 1941 the World War and can turn out much bigger jobs than might be imagined. Essentially the Varadero services the Fernandez Compania Maritima interislanders, the objective of the brothers Fernandez in acquiring it. It was founded in 1884 (when Peele, Hubbell & Co., one of the oldtime American firms of Manila, furnished a lot of the equipment, if not all) by the following Manilans: R. D. Tucker, Robert C. Smith, Daniel Earnshaw, Rafael Lopez, Baltazar Girandier, Liborio Aurteneche, Miguel Quevedo, Carlos Moritz, Zoilo Ibaiez de Aldecoa, Joaquin Elizalde, G. A. K. Hony, Antonio Marcaida, Telesforo Chuidian, Neil Macleod, Jose Mufoz, Antonio V. Barretto, Manuel Franco, Joaquin Preysler, Rafael Reyes, Andres Ortiz de Zarate, Vicente Cuyugan, Federico Bulton, Carlos Ylderton Barnes, Luis Rafael Yangco, Manuel de los Reyes, Jorge H. Townsend, Rufus Allen Lane (for Francisco de Paula Cembrano). Tucker was an American. Daniel Earnshaw was the father of the Earnshaws of the American era. Joaquin Elizalde, representing Ynchausti y Cia., the grandfather of the four horsemen of rope, polo, shipping, paint and political fame. With such a list of shareholders, the opening of the Varadero for actual work, must have been an event I M-~~~~m -1 I I — - Only One Refrigerator........ offers every modern convenience and a 10-YEAR UNCONDITIONAL GUARANTEE Since you buy a refrigerator for your own personal comfort and convenience, you naturally want the best you can get. The way so many people are turning to the SERVEL is an indication of the greater comfort and convenience it offers, with its greater economy over a long period of years. MANILA GAS CORPORATION 33

comparable in our time to the recent opening of the Jai Alai club on Taft avenue. It is the original railway, by the way, that handles the larger jobs. The other dates only from 1910. The engines installed in 1884 still do the mule work and they indeed are as safe as they were when new, as after all, they are very seldom used, having actually been operated about 400 hours a year. If you are at the air-port someday when a ship is being docked, it will pay to slip over and see how it is done. The original capital of the project was P300,000 in shares of P100 par value, but from profits more than P1,000,000 has been invested from time to time, besides the upkeep and replacement expense. The Fernandez brothers bought shares enough for control in 1916, chiefly from Rafael Reyes, one of the founders. The Fernandez brothers who founded the company under the name Fernandez Hermanos were three. Ramon was the youngest. The second, Jose F., died 2 years ago, having lived to see the Compafnia Maritima fleet the peer of the best in the Islands. The eldest, Vicente D., died in 1912, 2 weeks before the company got control of the Compania Maritima. Indeed, his death almost discouraged the other 2 brothers from going ahead with the deal, but after long thought the bold way prevailed. Compaiiia Maritima had been founded about 1894, and Fernandez Hermanos got control in 1912 by buying A Manila "Mona Lisa" Miss Florence Lindvall This young woman became the bride of Captain Arne J. Johnson, also of the Salvation Army, June I I, at the Cosmopolitan Student Church. The striking resemblance of her beauty to that of the anonymous subject of Da Vinci's painting, Mona Lisa, will be plain to every reader. a majority of the shares. This was almost on the eve of the profitable World War period. The venture proved highly successful, as did the acquisition of the Varadero 4 years later. After inquiring of Don Ramon about the Varadero, we were further curious about how the foundations of a large interisland shipping business one of the leading lines of the Islands' were laid by the far-seeing brothers, Don Ramon told us it was this way: In the early 70's, the boys' father became the partner of Pedro p. Roxas, who was his step-brother, in a venture for the exploitation of the products of the Nasugbu plantation in Batangas, a little patch of 29,000 hectares (72,500 acres) that is still a property of the Roxas heirs. The capital ventured was P180,000 and the chief activity was the manufac. ture of open-kettle sugar at 4 various mills on the vast estate. With P90,. 000 participation in such an enter. prise, the Fernandez boys considered themselves rich; and for those times in the Philippines, they were rich. But fortune turned against them with the onset of the revolts against Spain in 1896-1897 and the troubled period that lasted well past the turn of the century. Don Ramon recalls that the brothers' resources fell in this period to P6,000 in the bank; he still has the passbook that shows it. However, Don Pedro Roxas had founded the San Miguel Brewery meantime, and had allotted the brothers, who worked for him, P10,000 of the capital. With Manila teeming with American soldiers, sailors and marines thirsty for the mellow brew, these brewery shares were another story-and a happier one. Income multiplied from brewery dividends; the brothers were able to buy a ship in 1906 with this money, and another in 1908; as Fernandez Hermanos, they were now on their way up the ladder, and have steadily enlarged their fleet. Nasugbu, the boys' childhood home, is a story apart that may be worth the telling some time. For the present we would hazard the guess that not only is the Varadero of Manila at the American navy's disposal, but everything else that Fernandez Hermanos and the Companiia Maritima happen to have-should Uncle Sam be at war and need it; and this, we think, is the general spirit of the country. Don Ramon is now assisted in the companies' management by his 3 nephews: Jose P., Luis A., and Carlos. Jose and Luis are Harvard postgraduates of 1928 and 1929 respectively. Carlos is a postgraduate of Northwestern. I --..The Heusser Assay Balance A masterpiece of accuracy and reliability We carry in stock: Group A: standard sensitivity: 1/300 mg. sensitivity: 1/500 mg. Group D: with multiple weight attachment and mechanical pan extractor sensitivity: 1/500 mg. Boticea Boie Philippine American Drug Co. 102 Escolta Manila I ----- 34 The Amensrt Chamber of Comnlmerce Jon rl June,.1J01 (

He Will Plant Cotton Three years ago when Governor Roque B. Ablan was first elected chief executive of his province, Ilokos Norte, he was the youngest of all the provincial governors in the Philippines, but he thinks some younger men came in last December, when he was elected for a second term by about the same majority that he had the first time, about 3,000 votes in something more than 20,000. He attracted the Journal's attention a few months ago when he was in Manila for the governors' convention and making arrangements with the National Development company to revive the growing of cotton in Ilokos Norte. Farms are small there, and Governor Ablan believes that returns would be higher if farmers turned to cotton growing and grew less tobacco. If undertaken, it will be an experiment in diversification. In order to impress them with the possibilities, Governor Ablan had all Ilokos Norte mayors down to Manila to visit the National Development company's textile plant on calle Pureza. Better than his project for Ilokos Norte farmers to grow cotton, was his getting President Quezon to set aside a large tract of public domain Hon. Roque B. Ablan Provincial Governor of Ilokos Norte in the Cagayan-Isabela region for' Ilokano emigrants to homestead. The emigrants can hardly believe their eyes, since their new farms are all 6 hectares in size-or 6 times as large as a good farm in Ilokos Norte. Yet Ilokos Norte is so densely populated and such a breeding place for large families that one homesteading project alone, however extensi\<, twill relieve the population pressure only temporarily. Governor Ablan therefore counsels his people to diversify their crops and work their fields more extensively durirg the year, as well as to go in for more industry. Bangui makes a fiber mat that he thinks should find wider demand. Pasuquin makes salt that ought to be packed modernly and widely sold. San Nicolas has a pottery industry that has been in its infancy since time immemorial and really ought to grow up. Governor Ablan says the lumber needs of northern Luzon could be I REMINGTON CUTLERY A complete line of POCKET KNIVES, KITCHEN KNIVES, HUNTING KNIVES, etc. America's Finest E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. -'I 1 T'h Amertcan Cha/mber of Commerce Journal Jufle, 1941 35

supplied from Ilokos Norte for 40 years, but movement of lumber is actually into the province instead of out of it. Burgos's seaweed industry is unorganized, though this seaweed, gamet, is in high demand. He writes like a Jefferson, pointing out that Ilokos Norte's soil will produce vegetables, eggplant, tomatoes, onions, white squash, etc., yet all these things now come from Ilokos Sur. Poultry, pigs, and livestock-he tells his people there is no excuse for a falling off of production in these lines. Though farms are small, they are owner-occupied very generally in Ilokos Norte, flnd, much cash still coming in from sons at work in Hawaii and California, Washington and Alaska, even the poorer Ilokanos can afford themselves a meal of roast suckling pig occasionally, or broiled kid; but though the demand is constant, there is no organization of the supply and no one knows, when he sets out to buy a kid or a pig, that he will come on one for sale. Governor Ablan cites his people the example of the Japanese, how on farms less than a hectare in size the products of the fields are so supplemented by industry, neither man nor woiman being idle a day in the year, that everyone is well clothed and educated and children are even sent to college. Let us pause here to say that no people in all the Philippines values education more highly than do the Ilokanos, the Scotsmen of the country in this and many ways. The Ablan family illustrates the sacrifices Ilokanos will make to put their children through college, because in order to do this very thing, for 5 children, the Ablan farm was mortgaged and finally sold and is now the property of a former tenant. Yet this was not short-sighted, since public land is still to be had in the Philippines; the earning capacity of the children was increased, and, for example, instead of a share of little value in the old family farm that went into tuition fees, Governor Ablan himself owns 100 hectares in Isabela. Now back to that basic problem of a good living for an Ilokano family from a hectare of land. The gravest question, Governor Ablan says, is to ward off hunger-"hungry men with several other hungry mouths to feed know no law and respect no authority." Cooperatives are relied on a great deal, both for consumers and producers. T h e re is a gourami breeding s t a t i o n, supplying fry to farmers who will maintain gourami ponds. There is an animal-breeding station at Dingras, where also, 2, rice crops a year are now grown. There is a provincial plant nursery, supplemented with similar nurseries in every town without exception. Rural credit associations, Governor Ablan claims, have been revitalized and placed on solid footing. Despite all this, the young gubernatorial gaze is a restive one, even in conversa tion; for it is all but a mere begin. ning. There is a large warehouse at Laoag, to assist in the scientific marketing of crops-rice and tobac. co-but already it is short of the instant need. Right under the governor's supervision at Laoag, the provincial capital, such agencies as the following function: a provincial agricultural office, a provincial commercial agen, cy, a vocational and agricultural school, a provincial library (independent of the school libraries, it seems), all "to bring the fruits of scientific investigation to our doors." If Ilokos Norte manages to reach more than half way toward the practical standards Governor Ablan sets up, it will be an example to all Luzon. I'm Off The... Continued from page 19 better friend than the people of the United States. Here millions of your children have found peaceful refuge. America has taken the Italian to its heart. In every walk of life he here represents the culture of a noble race. Our President, Mr. Roosevelt, has labored and prayed that yours might not be the course of war. We believe that bondage to Hitler is as bad as bondage to Stalin. Rise up in your might, sons of Italy, and follow the peaceful aspirations of our Holy Father and [Continued on page 39] I I "A Good Advertisement of a Good Thing in a Good Paper is a Good Investment" MANILA DAILY BULLETIN For 41 Years A Good Newspaper For Advertising Good Things I I 36 The American Chamber of Commerce Journll June, 1941 (

Island Of Crete When this was written, May 23, housands of German troops had landed on the Island of Crete by gliders, parachutes and perhaps some small seacraft that could slip by in the night. They were opposed by British and Greeks. It seemed' as if Hitler was not only trying to take over Crete in his campaign for NearEast oilfields and a way into the Black Sea, but was possibly staging a full-dress rehearsal of means to land in England. Crete is only 110 miles from Asia Minor, and even this K&S^^^^~~~~~~~~~~~~~~~~~~~~~~ Rhodes. On the northwest, it is only 60 miles from Grecian minland The area is 3,330 square miles, somewhat larger than Leyte, in the Philippines. The length is 160 miles, the width is narrow, hardly anywhere more than 30 miles and in some places as little as 8 miles. The surface is mountainous, and the northern coast especially is indented with many coves convenient for such land ings as the Germans have been able to make. War is Crete's history, but her civilization is as old as anything known of Egypt herself. The population is about 300,000 of whom fewer than 50,000 are Moslems, and even these are of Grecian ancestry. The place is highly strategic, but given pl^ S s t fact the problem of the terrain, the fact that considerable numbers of Germans have landed there is not to be held against the British command. (A number of Hawthorne's Tanglewood Tales are laid in Crete). the orient, purchasing oriental merchan TalonrmD.Pl remove from a community where religion vwas taught, to another where it was not; nor within a village, from one hamlet to another, nor dissolve their association with one faction in favor of another. The Aud,dencia, a governing commission, took the precautions necessary to conserve this system and to avoid the bother entailed by conquered Filipinos moving about. With the tariffs of legal prices published by the Alcaldes Macyores of the different provinces, liberty of contract suffered a rude blow. An ordinance of the Audienia's of 1599 published the prices at which laying hens, pullets, and capons would be sold in this manner: Laying hens, from China.... 2/ reales Native laying hens.......... 1 " Translation from Dr. Palma Continued from page 15 cly only, in open stores, duly weighed nd at the fixed price, under penalty of onfiscation were it sold in any other nanner, in benefit of the alguacil or juez xecuting the decree. With such restrictions and violent measures, foregone conclusions were hunger and suffering not only' among the conouerors but among Filipinos as well. Alarmed by abuses by the Spanish authorities of which they were the object, Filipinos ceased to produce and to cultivate the soil. The country's economic system underwent tremendous reverses; the commerce and agriculture of the interior were paralyzed, a condition only partly alleviated with importation of supplies froir China, Japan, Borneo, the Moluccas, an" other neighboring sources. From Japan, from that time, came mudc wheat and flour; from China, cattle borses, mares, oranges, greens, hams an an infinity of comestibles. Growth of foreign commerce was suc that within a few years Manila becan one of the chief distributing centers the orient. Purchasing oriental merchanSpaniards made considerable fortune. dise and sending it for sale in New Spain, Manuel Azcarraga Palmero, the king's minister during the last decade of Spain's sovereignty over the Philippines, could say with reason and pride: "The capital of our colony (the Philippines) was, a few years after the conquest, an emporium of riches that from its commercial activity won the title of the Pearl of the Orient." Manila not only attracted every year larger numbers of ships Irom neighboring lands bringing her a wealth of merchandise, but also a considerable foreign population from different parts of the world; the union of Seville and Cadiz with the Mediterranean was repeated in the China sea. I (Dr. Palma's comments on the galleon commerce are omitted, in favor of a summary of our own published in our May ish sue. In July we take up his review of the i, Royal Company of the Philippines and the d period introduced by the tobacco monopoly founded by Governor Basco Y Vargas in.h 1781. It is a part of his writing under Be the title Philippine EcornOmic Progress.Df Ed.) Cockerels.............'.. Pullets.................... Capons, from China....... 12 3%/2,,,, He who violated this ordinance suffered confiscation of his fowl, of which a third was sent to the hospitals, a third went to the informant, and a third remained with the officials enforcing the law. The same cirdinance fixed the price for hogs and fish. It ordered that hogs be sold pubT'he American Chamber of Commerce Journal June, 1941 37

I GET RID OF NOIS.E Copra And Its Products (Report for the month of April, 1941) By Kenneth B. Day & Leo Schnurmacher _ Kenneth B. Day The general advancement in values of coconut products noted during March continued throughout the month of April. Shipments of copra and coconut oil to North China and Japan continued to take a large proportion of overseas shipments. The scarcity of ocean space, particularly for copra, continues to increase. An added element in the market is the continued drought, which has affected nearly all the coconut producing region. This drought has made a very decided halt in current production of copra and will have even a greater effect on production for the balance Don't let NOISE make you nervous and fretful-prevent you from putting real effort into your work-prevent you from enjoying a good night's sleep. Shut out noise of trams and trucks, bells and busesTests prove that we tire much faster in noisy rooms. The REMINGTON AIR CONDITIONER permits you to exclude noise by keeping your windows close4 even on the hottest day. The REMINGTON AtR CONDITIONER cools your bedroom or office by pouring in a stream of cool dehumidified air, silently and without draught. Positive ventilation with filtered air brought in from thes outside. Specially sound proofed, noise cannot travel through the Unit. See or Call us NOW. Our representative will explain full details without obligation on your part. ELMAC, INC. 627 Rizal Ave. Tel. 2-35-31 Manila of the year. Up to the time of writing, the drought had not broken and conditions are getting worse from week to week, but it will be impossible to evaluate the total effect until after the rains come. COPRA-Arrivals in Manila continued heavy, being 7c% under March but 10% over arrivals of April, 1940. For the third consecutive month, Manila arrivals have been the heaviest of record for the month. This condition is largely due to copra being delivered in Manila which normally would go to Cebu or, more probably, be shipped direct from outports. Arrivals in Cebu were fair, being 2% over arrivals of March, but 7% under April of last year. In spite of the decreased shipments from outports, Cebu arrivals for the combined months of March and April are 11% under the same period in 1940. The market rose rapidly throughout the month, starting at P5.25 resecada Manila and closing with buyers at P9.00, and a tendency for still further increase. While there was some trading at several stages along the rise, this covered little more than liquidation of part of the dealers' holdings, and most large middlemen were holding off in the expectation of better prices in May. There were several reasons for this spectacular rise: first, American markets for domestic oils and fats improved considerably; second, the lack of shipping space induced consumers in the United States to bid actively for whatever space was available; third, sales to North China and Japan were at a premium and buyers for this trade were willing to pay over the market for prompt delivery; fourth, the continued drought radically curtailed production which had a tightenting effect on the market; and fifth, Pacific Coast mills were actively bidding for copra at prices which would have given a very good profit, but exporters could not take advantage of the offers because of lack of shipping space. The fact that offers were being made, however, had a very strong effect on the market. The Pacific Coast market for copra rose steadily from $2.80 to $3.50 per 100 lbs. but 'little business could be done for lack of shipping space. Exports were fair but over 25% of the total exports were for North China and Japan destinations. Statistics for the month follow:Arrivals: Sacks Manila.................... 463,307 Cebu...................... 336,179 Shipments: Metric Tons Pacific Coast............. 11,920 Atlantic Coast............ 508 Gulf Ports................ 3,969 China and Japan.......... 5,740 Other Countries.......... 406 Total............... 22,543 Beginning End of of month month Stocks on hand: Tons Tons Manila........... 51,549 43,881 Cebu............. 36,608 32,179 COCONUT OIL-The New York market for coconut oil was advancing throughout the month but it was extremely difficult to gauge due to a considerable discrepancy at times between buyers' and sellers' ideas and because of the wide divergence between quotations for bulk oil c.i.f. and for tank cars f.o.b. The month opened with a trifle better than 4 cents c.i.f. New York and by the close of the month, 53/8 cents c.i.f Newv York was available, with sellers holding off for up to 6 cents. On the Pacific Coast prices rose to 51/2 cents f.o.b. tank cars. Shipments of coconut oil to the United States were somewhat better than during March but over 35%', of coconut oil shipments went to North China and Japan. Statistics for the month follow: Shipments: Metric Tols Pacific Coast............. 3,857 Atlantic Coast............ 6,698 Gulf Ports................ 3,133 China & Japan............ 7,939 Total................ 21,627 Beginning End of of month month Stocks on hand: Tons Tcns Manila & Cebu.... 24,352 16,361 I 38 The Amrierican Chamber of Commerce Journal June, 1941

COPRA CAKE AND MEAL-There was practically no business done in sales of copra meal to the Pacific Coast because of the impossibility of securing space for shipmn, nt within a reasonable time. Further sales of copra cake for fuel were reported during the month. The market for copra meal on the Pacific Coast improved to approximately $33.00 per short ton c.i.f., but this quotation was largely nominal and local mills could not secure space for shipments. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............. 8,237 Beginning End of of month month Stocks on hand: Tons Tons Manila & Cebu..... 15,939 13,503 DESICCA TED COCONUT-Shipments of desiccated coconut were 2,947 metric tons which are low, but considering the extremely heavy shipments during March, a lower shipment in April was to be expected. Desiccators continued working at full capacity and the United States market is absorbing all of the desiccated coconut which can be shipped. GENERAL-Around the middle of April, a group of copra exporters, being unable to secure space for shipment, petitioned the Associated Steamship Lines for an increase in freight rates on copra of $10.00 per long ton. The Associated Steamship Lines, after consideration of the proposal, made a flat increase of $10.00 per long ton to all United States destinations on copra, coconut oil and copra meal, the rate increase to go into effect immediately on new bookings and on all bookings for shipment after June 1st. Toward the close of the month, however, it appeared that the increase in freight rates had not found the approval of the Maritime Commission and revision is expected. This has resulted in much uncertainty in the market during the latter part of April and continuing into May, and the final result is still to be determined. Sugar Market Report ment was contemplating the formation of a shipping pool of two million tons of foreign and domestic freight space gave a firmer tone to the market at the beginning of May, and refiners paid up to 3.42~ with sellers asking 3.45~. At these levels, fair quantities of sugar changed hands throughout the first half of May, but further pressure from distressed parcels of Puerto Rican sugar again caused buyers to withdraw, in the hopes of being able to purchase at lower prices. There has been no change in refined prices during the whole of this period, but the market is disappointing, and secondhand parcels have been reported as offering at 20~ under the announced price level of 5.10~. Quotations on the Exchange fluctuated as follows during the period: The domestic consumption sugar market has been a little easier, and the tone generally is dull with not much business doing; buyers quote about P4.10 per picul. Exports to the United States during the month of April continued at the same rate amounting to 96,348 tons centrifugals and 4,040 tons of refined sugar. Total shipments from November 1st, 1940 to April 30th, 1941 were as follows:Tons Centrifugals........... 485,234 Refined................ 18,371 Total............ 503,605 I'm Off The... M ay........... July........... September...... January 1942... March 1942.... Low 2.36~ 2.37~ 2.40~ 2.39~ 2.41~ High 2.48~ 2.50~ 2.54~ 2.55~ 2.57~ Latest 2.47~ 2.48~ 2.51~ 2.53~ 2.564 Continued from page 36 Reported sales of Philippine sugar during the period amounted to 81,100 long tons at prices ranging from 3.35~ to 3.454, and resales to 13,500 tons at 3.354 and 3.464. Local exporters purchased rather over 12,000 tons of sugar at P5.00 per picul in a short-lived buying move at the beginning of this period, but no further activity was reported until the very end, when further limited purchases were made at the same price. It is becoming apparent that practically all of the sugar available for export in the Visayan districts is already shipped or compromised for shipment. On April 28th, the Conference minimum freight rate was advanced to $25.00 per ton and bookings are reliably reported at $3.00 over this level. your own King. Italy belongs in the axis of Christ, not in the wicked alliance of God-denying tyrants. Come back-before it is too late-lest your young men die in vain on foreign fields for the triumph of Satanic forces. What have you people of Italy in common with Hitler, Stalin and the Japanese emperor worshippers? Your real friends, if the Fascist censors permit you to learn the truth, will be revealed as the free countries of the Americas." For the people of England, I would add one further word: "We salute you, fighting men of Britain, ir your gallant stand against tyranny. We know there is joy in Heaven over the fact that your citizens are now willing to die for that which in the past some of your rulers sough to stifle. England suffering appears more noble than ever did England triumphant." (April 16th to May 15th, 1941) - By Warner, Barnes & Co., Ltd. At the beginning of this period, the New York sugar market was dominated by fears of further quota increases, which might have been considered justified by the very heavy distribution for the month of March; the actual distribution was announced as amounting to 1,030,000 tons, which compares with the figure of approximately 470,000 tons for the month of March last year. These fears were, however, allayed by an announcement from Washington, and a rather firmer tone became apparent in the market. This did not continue due to increasing pressure to sell nearby parcels in distressed positions, and prices weakened to( close the month of April at 3.35~. An announcement that the U.S. Govern L A. C. RANSOM PHILIPPINE CORPORATION continues to serve the printing trade We sell high quality paper on which to print at minimum cost Coated, Book, Bond and Mimeograph paper are our specialties M 717-721 F. Torres Tel.2-22-21 MANILA (This magazine is printed on our C2S Coated Paper) ' he American Chamber of Commerce Journal June, 1941 39

a I Southlern Islands C uises Cebu-Duniaguete-Zamboanga Cotabato-Jolo T'welv days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano —m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarinias Manila, P. I. Phone 4-98-91 Export Statistics (March, 1941) By Associated Steamship Lines The total Revenue Tonnage figures for March 1941, are 367,156 Tons, for a total of 97 sailings. Compared with figures for the month of February, 1941, the tonnage shows an Increase of 45,507 Tons. SUGAR: Tons Centrifugal/Raw............. 100,637 Refined...................... 2,463 Manganese 5,637 - 25,437 132,194 - Tons Total Tonnage March...... 157,631 Total Tonnage February... 124,528 Increase................... 33,103 CONCENTRATES: Distributed as follows: United States Tons Copper.... 434 rnI.A 1 o9c China & Japan Tons Misc. Europe Ports Tons Tons kVoI...d -- L ad..... I I.. ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) '"K" LINE Express Service to Atlantic Ports (Philippines to U. S. Atlantic Ports via Panama) Total March........... 103,100 Total February.............. 80,779 Increase..................... 22,321 C OCONUT PRODUCTS: Distributed as follows: Zinc........ - - 559 - Tons Total Tonnage March.......... 559 Total Tonnage February....... 223 Increase...................... 336 OTHER COMMODITIES: United States Coconut, Tons Desiccated 9,634 Coconut Oil.. 10:284 Copra....... 13,665 Copra Cake & Meal... 8,051 Japan Tons 107 3,778 2.158 Europe Tons Misc. Ports Tons 12 TONS SHIPPED -- March Feb. _ Leaf Tobacco.. 1,113 1,031 Incr. Decr. 82 - 41,634 6,043 - 12 Tons Total Tonnage March....... 47,689 Total Tonnage February.... 51,561 Decrease.................... 3,872 HEMP: Distributed as follows: Bales China & Japan............. 34,609 United States............... 42,650 Europe..................... 16,465 Misc. Ports................. 17,996 Cigars & Cigarettes... 614 Rope Shipment 883 Embroideries.. 262 Kapok........ 135 Furniture..... 1,779 Gums......... 159 Molasses...... 1 Vegetable Lard Margarine.. 1,646 Other Commodities not listed above.... 16,972 755 774 256 1.488 104 1,310 672 109 6 135 291 55 141 1,309 974 7,638 9,334 SUMMARY OF TONNAGE DURING MARCH, 1941 Total Bales March........ 111,720 Total Bales February...... 110,262 Increase.................. 1,458 LOGS & LUMBER: Distributed as follows: Bdft. China & Japan.......... 5,627,065 United States............ 2,719,628 Europe.................. 752,835 Misc. Ports.............. 811,847 Total Board Feet March.. 9,911,375 Total Board Feet February 17,638,695 Decrease................. 7,727,320 ORES: Distributed as follows: United China & Misc. States Japan Europe Ports Tons Tons Tons Tons Copper.... - - - Chrome... 19,800 10,860 - Iron...... - 121,334 - Honolulu U.S.A.. Pacific Local " Pac. Overland " Atlantic " Gulf " Pacific Coast Canada.. Atlantic Coast ".. China................ Japan................ N. E. Indies........... Straits India......... Europe............... Australasia........... Africa................ West Indies, Central America, South America.... March 1941 Tons 762 31,752 2:338 127,986 27,552 75 81 20,531 141,253 328 7,672 3,626 431 1,703 1,066 March 1940 Tons 393 45,197 1,848 116,796 7,149 170 4,107 94,041 409 884 36.274 458 6,072 360 Trade mmrc B Commerce Bldg. 1 2-15-21 Tels. 2-15-22 L 2-15-23 MANILA Total number of sailings during March, 1941-97 vessels of which 24 were American vessels. 40 The American Chamber of Commerce Journal June, 1941 f

Real Estate By P. D. Carman Boulevard Heights Rawlec Tobacco China..................... Hong Kong............... United States............. I_ Manila strongmaterial construction f o r April amounted to only P377,680 as compared with P987,280 in April of last year and P1,012,320 in 1939. The first four months of 1 1941 and 1940 total P2,297,520 K, U and P4,022,920, the great decrease undoubtedly being due to recent high costs of many construction materials. xf, Stripped ) and Scraps Kilos 41,786 2,337 17,910 62,033 533,411 1,534,896 1,405,184 2,291,210 lume for the first four months of 1941 being about one third below the corresponding 1940 period. Owing to war conditions shipments to other countries are practically limited to China, Hong Kong and Malaya. Comparative figures of cigar shipments to the United States are as follows: April 1941... March 1941.. April 1940... January-April 1941.. January-April 1940... April 1941... March 1941.. April 1940... January-April 1941... January-April 1940... Cigars 8,927,701 19,394,297 12,778,805 41,649,923 61,627,665 CIGARS: Shipments to the United States continue rather unsatisfactory, vo b1 j L~~~~~ Sales City of Manila 1941 March April Sta. Cruz....... 1 396,638 P 276,032 Sampaloc....... 138,638 588,051 Tondo........... 99,423 237,479 Binondo......... 15,587 250,000 San Nicolas..... 36,541 16,500 Ermita.......... 270,905 38,500 Malat........... 109,588 99,209 Paco............ 66,313 52,890 Sta. Ana........ 57,009 66,200 Quiapo........... 22,269 16,115 San Miguel...... 28,000 42,995 Sta. Mesa........ 1,712 Pandacan....... 9,769 12,025, Pl,252,392 P1,695,996 The largest April total since 1918 with three exceptions, 1929, 1930 and 1937. April transfers in tha last ten years follow: I SS SS SS SS SS SS SS sS SAN FRANCISCO. LOS ANGELES via Hongkong, Shanghai, Kobe and Honolulu Pres. Pierce.......... June 30 Pres. Taft............ July 11;. Pres. Madison.......... July 12 Pres. Cleveland....... July 29 Pres. Coolidge........ Aug. 8 Pres. Pierce.......... Aug. 27 Pres. Taft.......... Sept. 5;. Pres. Cleveland........ Sept. 24 1932 1933 1934 1935 1936 P 817,806 1,146,178 997.376 1,109,726 1,129,376 1937 1938 1939 1940 1941 3,025,256 946,868 1,181,237 1,346,866 1,695,996 NEW YORK. BOSTON via Singapore, Penang, Colombo, Bombay and Capetown SS Pres. Jackson.......... July 17 SS Pres. Grant............ July 30 SS Pres. Adams........... July 31 SS Pres. Hayes............ Aug. 16 SS Pres. Garfield.......... Sept. 4 SS Pres. Monroe........... Sept. 9 NEW YORK - BOSTON via Hongkong, San Francisco, and Panama Canal *SS D. Luckenbach.......... July 16 *SS H. Luckenbach......... July 23 *SS A. Luckenbach.......... Aug. 9 "SS Pres. Harrison......... Aug. 25 "SS Pres. Filmore........... Sept. 8 *SS Pres. Johnson.......... Sept. 12 Tobacco Review (April, 1941) $ $ 4 3| -By Alhambra Cigar & Cigarette Mfg. Co.TOBACCO: April rains favored that part of the crop which was still unharvested. In the meantime most of the crop has been brought in. The demand from the United States for filler tobacco and tobacco scrap is much larger than what can be shipped under quota limitation. In view of ever increasing restrictions or prohibitions of imports in many countries the only remaining outlets for Philippine tobacco are the United States, China and Hong Kong. Comparative figures of shipments are: * Freight service only. -- The American Chamber of Commnerce Journal June, 1941 41

Rice Review (April, 194.1) By Dr. V. Buencamino Manager, National Rice & Corn Corp. The bullish tendency noted at close of the preceding month did n o t materialize into any thing substantial. There occurred a brief flurry in the first few days raising prices by 5b-10~, but the market lapsed to quiet accentuated by holiday interruptions. The following two weeks were a quiet affair, prices holding steady in the neighborhood of P5.20 for Macan No. 2 and P5.85 for Elonelon No. 1. But the week ending April 26 witnessed a brisk demand for ordinary varieties for shipment to Guam. However, the price did not respond in view of the presence of NARIC rice selling at P5.00, asserting its stabilizing influence on the market. The fancy variety gained 5~ on broader demand, closing at P5.90 for Elonelon No. 1. Arrivals in Manila (Sacks) PALAY A quiet market prevailed with traders gradually working up their prices to the NARIC level of P2.50 for Macan ordinario or its equivalents delivered at Cabanatuan. This represented an increase of 10~ over the opening quotation of P2.35-P2.40. Manila Hemp By H. P. Strickler Manila Cordage Company The advance experienced during the last week of March continued throughout the nutin,,,,Ch o- A-;1,,,;;1^: -1 - Foreign Exchange Review (April 16th to May 23rd, 1941) By J. Repoport The period covered by this rleview was extended for an extra week due to the fact that some in. teresting changes occurred on the exchange ent1re llt UIIUI II 2-I '11 Vw from two to four pesos This advance has been s eign markets. Another tor to this firmness is city of steamers to carrn Philippines. Nominal Prices Of Loose Per Picu F I J1 G H K April 1st. - P13.00 11.00 - 9.75 7.25 5.75 5.00 Month Rail April 1941.... 118,089 April 1940.... 111,925 March 1941.... 156,010 Water 11,199 770 8,202 Total 129,288 112,695 164,212 Nominal Prices Of Loose Per Picu Shipments to provinces by water (Sacks) April 1941.................... April 1940.................... March 1941................... 44,505 103,613 37,502 Aprril 1st. F - P15.50 I - 15.25 J1 - 14.25 G - 11.25 'in prices closing market in the over the opening. second half of;upported by for- May. contributing fac- There was nothe present scar- thing unusual in y cargo from the the behaviour of the dollar-peso rate throughout the second half of April, interbank sales of ready dollars being recorded at 1/2 and rarely, Fib e.r In Manila 7/16%o pr., though the buyers showed a certain reluctance to part with pesos. April 30th. The first week of May was extremly dull with the total volume of merchants' and F - P15.50 interbank business being small. There I - 13.25 were recorded isolated transactions in spot Ji - 12.25 dollars at 7/16% pr. and May seller's opG 9.25 tion at 3/8% pr. The latter, a sacrifice KH - 7.25 of 1/16%, was a precaution taken by the K 6 seller to assure himself of peso funds whenever they were needed during the Fiber In Davao month. l^ ~ "~While spot rate was thus showing a certain weakness, forward quotations remainApril 30th. ed at around 1/2% pr., indicating that F P19.00 weakness was caused by the condition of I 18.75 the money market rather than by changJ 17.50 ing technical position of the dollar. G _ 15.00 Towards the middle of May with income tax payments falling due, interbank dollar rate dropped to 7/16% pr.-good sellers, with hardly any takers. Dollars were offered either as an outright sale or on the I nc. basis of change-overs, the penalty for the latter rapidly widening until it reached 3/16% for four months in favour of the buyers of ready dollars. Beginning Monday (19th of May) pressure for cash increased further and dollar rate quickly dropped to 5/16 and 1/4% pr. on a very small volume of sales. Banks, whose cash position was strong, were buying very cautiously being confronted with numerous offers to sell dollars, while import demand remained very small. In the meantime there also appeared large offerings of dollars, both T.T.'s and export bills in behalf of merchants and mining companies, which made the matter worse, as most of these were for near delivery necessitating large payments of cash. On the following day, interbank sales Port Area of dollars took place at 3/16% pr. spot, the total volume being negligible as buyers [Continued on page 44] Luzon Stevedoring Co., Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK MANILA Phone [phone] The American Chamber of Commerce Journal June, 1941 (

COMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING APRIL, 1941 WITH MARCH, 1941, AND THEIR AVERAGE FOR THE LAST NINE MONTHS Groups of exports April 1941 Average March per month, 1941 July, 1940 to March, 1941 TOTAL EXPORTS.......... Animals, edible, total............ Meat products, total............. Fish and fish products, total..... Animal products, inedible, total.. Other animals and animal products, total........................... Grains and preparations, total.... Vegetables and preparations, total Fruits and preparations, total..... Nuts, total...................... Coconuts, coconut oil, copra, and other coconut products, total... Cacao and coffee, total.......... Sugar and related products, total Beverages, wines, and liquors, total Gums and resins, total.......... Herbs, leaves and roots, crude, total Oils, other than coconut, total... Rubber and manufactures, total.. Plant dyeing and tanning extracts, total.......................... Seeds, total..................... Tobacco and manufactures, total.. Miscellaneous plant products, total Fibers and manufactures, total... Cotton, textiles, embroideries, and miscellaneous fiber products, total Logs, timber and lumber, total... Wood, bamboo, reed, and rattan manufactures, total........... Minerals and metals including gold and silver, total............... Medicinal and pharmaceutical preparations, total................ Chemicals, total.................. Explosives, total................ Soap and toilet preparations, total Miscellaneous, total.............. Foreign merchandize (re-exports), total........................... (Pesos) 32,961,443 88 6 82,028 80,237 600 34,746 372,417 818 4,621,926 8,909,577 10,532 46,758 4,869 46,958 579,918 342 3,731,085 846,313 775,997 40,043 10,973,914 1,859 90 25,595 92,610 1,682,117 (Pesos) 30,891,853 991 49,766 79,831 2,648 75,948 2,550 424,362 13,041 3,792,396 1 9,380,720 18,732 38,163 4,500 12,670 39,417 53 655,630 96 3,412,553 832,088 644,151 97,121 9,460,237 1,540 13,703 27,028 70,302 1,741,615 (Pesos) 26,064,674 555 118 39,206 56,372 344 11,831 3,632 276,510 37,737 3,440,746 1 7,429,671 33,468 36,707 4,568 4,602 85,093 4 236 791,446 1,444 2,735,309 852,806 685,664 60,812 8,437,039 3,112 15,464 22 14,833 70,386 934,936 COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORTS DURtIO APRIL, 1941 WITH MARCH, 1941, AND THEIR AVERAGE FOR THE LAST NINE MONTHS Averag of impos April March per month Groups of imports 1941 1941 July, 1940 to March, 1941 (Pesos) (Pesos) (Pesos) TOTAL IMPORTS.......... 20,542,576 25,318,572 20,815,260 Animals, total.................. 11,884 9,888 11,729 Meat products, total.......... 173,824 288,796 198,66 Animal oils and fats, edible, total. 5,280 2,128 2,488 Dairy products, total.....64,430 1,10,76 86,668 Fish and fish products, total.... 240,804 540,522 248,658 Other edible animal products, total........................... 2,766 18,794 21,964 Animal products, inedible, total.. 372,004 494,064 297,444 Other inedible animal products, total............................ 33,776 31,792 18,849 Grains and preparations, total... 958,500 1,347,346 1,068,952 Vegetables and vegetable preparations, total.................... 334,624 349,906 858,580 Fruits and fruit preparations, total.................. 204,386 235,200 269,819 Nuts and nut preparations, total. 4,922 11,686 14,786 Vegetable oils and fats, edible, total............................ 26,116 36,312 38,549 Cocoa, coffee, tea, total.......... 280,256 554,328 317,208 Species, total..................... 3,796 10,404 5,159 Sugar, molasses, syrups, total.... 127,492 135,206 115,858 Beverages, wines, liquors, total.. 107,106 155,732 99,264 Rubber and manufactures, total. 419,096 986,916 489,319 Gums, resins, oils, total...... 72,026 71,996 56,579 Roots, herbs, barks, etc., total.... 26,302 102,392 47,802 Tobacco and manufactures of, total 1,269,994 2,170,268 1,278,608 Seeds (except oil seeds) and nursery stock, total..............,26 6,712 7,940 Miscellaneous vegetable products, total................... 14,990 35,866 22,351 Manufactures of straw, rushes, and palm leaf, total............. 3,16,036 8,888 Textiles, fibers, and manufactures of, total...................... 4,693,736 6,824,402 4,097,846 Wood and manufactures of, total 86,482 63,372 71,237 Cork and manufactures, total.... 7,156 3,912 6,316 Paper and manufactures, total... 777,126 1,208,608 1,009,978 Non-metallic minaraSs, petroleum, etc., total...................... 2,848,144 1,882,948 2,362,922 Metals and manufactures of, total 4,408,528 4,752,260 6,176 422 Chemicals, drugs, dyes, medicines, total.......................... 650,280 1,048,178 703,470 Fertilizers, and fertilizer materials, total.......................... 35,884 68,934 429,340 Explosives, fireworks and ammunitions, total.................... 638,762 188,296 197,719 Pigments, paints and varnishes, total........................... 174,408 248,620 160,493 Soap and toilet preparations, total 367,840 282,890 203,560 Miscellaneous, total.............. 512.444 596,206 557,949 TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: APRIL, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL EXPORTS........... 32,961,443 100.0 American........................ 9.485,304 28.8 Mail............................. 8,553,948 26.0 Norwegian....................... 5,965,104 18.1 Japanese......................... 5,911,845 17.9 British........................... 1,196,983 3.6 Philippine........................ 965,834 2.9 Dutch............................ 634,085 1.9 French........................... 149,686 0.5 Greek............................ 74,050 0.2 Aircraft.......................... 13,671 (1) Russian.......................... 10,933 (1) (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: APRIL AND MARCH, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) I A- - -- Port of entry TOTAL IMPORTS........... M anila........................... Cebu............................. Iloilo............................ Davao........................... Legaspi.......................... Jolo............................. Zamboanga...................... Joe Pafganiban.................. Aparri........................... April Per cent Value (Pesos) total 20,542,576 100.0 18,810,454 91.6 1,160,366 5.6 365,242 1.8 79,088 0.4 6,060 (1) 10,106 (1) 31,578 0.2 79,596 0.4 86 (1) March Value (Pesos) 25,318,572 23,004,164 1,643,600 364,196 106,264 7,026 13,502 86,774 143,024 22 Per cent increase L March to April - 18.9 - 18.2 - 29.4 0.3 - 25.6 - 13.7 - 25.2 - 14.1 - 44.8 272.7 @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: APRIL AND MARCH, 1941 April March Per cent Port of origin Value of Value March to (Pesos) total (Pesos) April TOTAL EXPORTS........... 32,961,443 100.0 30,891,853 6.7 Manila........................... 19,451,618 59.0 19,811,844 - 1.8 Cebu............................... 3,614,508 11.0 3,283,462 101 Iloilo............................ 5,462,106 16.6 3,606,202 51.5 Davao........................... 2,579,127 7.8 1,689,556 52.7 Legaspi............................. 477,066 1.4 464,763 4.9 Legaspi.477,066 1.4 454,753 4.9 Jolo............................. 88,274 0.3 3,784 (2) amboanga....................... 310,352 0.9 800,691 3.2 JosePanganiban................ 978,392 8.0 1,741,661 -43.8 () A minus sign (.-) indicates a decrease. (2) More than 1000 per oent. The' American Chamber of Commerce Journal June, 1941 TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: APRIL, 1941 Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL IMPORTS........... 20,642,576 100.0 American........................ 10,639,186 51.3 Norwegian....................... 5,070,678 24.7 Dutch............................ 1,480,592 7.2 Japanese......................... 1,089,864 5.3 Philippine........................ 726,156 8.5 Swedish......................... 623,404 8.0 British........................... 596,740 2.9 Mail............................. 284,292 1.1 Panaman........................ 160,650 0.7 French........................... 28,938 0.1 Aircraft.........................2,076 (1) (1) Less than 0.1 per cent. 43

FREIGHT REVENUE CAR LOADING....._ __ _,_ A.... -_ _ - RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for five weeks ending April 26, 1941, as compared with the Eame period in 1940, are given at r ght. The volume of commodities received in Manila during the months of January, February, March, and April, 1941, via the Manila Railroad Company is as follows: i~ic ltiCl Pal; Sug Sui Co; Coc Mol Her Tob Liv4 Mir Lur Oth Mai All I NUMBER OF COMMODITIES FREIGHT CARS 1941 1940 e................ 663 526 ay................ 119 113:ar............... 635 723 gar Cane........ 193 350 )ra.............. 457 542 oonuts............ 178 70 lasses............. - 19 np................ 2 1 )acco............. 1 estock............ 48 15 leral Products.... 246 503 r.ber and Timber. 423 455 ler Forest Products 8 8 nufactures........ 369 328 Others including L.C.L. 3,135 3,467 TOTA...... 6,477 7,120 i FREIGHT TONNAGE 1941 1940.9,260 7,808 1,722 1,408 20,216 23,235 3,237 6,144 4,566 4,701 2,185 740 - 624 13 12 5 381 102 3,271 4,658 10,798 10,356 59 74 6,665 4,863 31,1.37 29,018 92,715 93,670 I Increase or Decrease Cars Tonnag 137 1,52 6 314 ( 88) (3,019) (157) (2,907) 85) ( 135) 108 1,445 ( 19) ( 624) 1 1 1 5 33 279 (257) (1,314) ( 32) 442 - ( 15) 41 802 (332) 2,319 ( 643) ( 955) CeOGMOD'lEg ~S JAN -. FEB. MA APR.. Rice, cavanes.................. 87,664 107,508 155,913 124,236 Sugar, piculs..................... 878,123 706,520 744,382 173,159 Copra, piculs..................... 156,340 172,206 105,163 107,447 Desiccated Coconuts, cases....... 32,920 52,593 61,869 61,982 Tobacco, bales................... 2,563 848 68 Lumber, board feet............ 1,031,166 2,026,558 2,970,101 2,535,167 Timber, kilos.................... 398,000 252,000 499,000 1,774,000 Week ending March 29,,,, I April 5.,....., 12.....,.,19 _ OR,, __26 TOTAL......... NOTE-Figures in SUMMARY 1,726 1,616 27,518 23,085 1,451 1,423 225&9- 20,015 841 1,571 10,726 22,391., 176 1,235 14,631 13,552!,283 1,275 17,245 14,627 i.477 7,120 92,715 93,670 110 I 4,433. 8 ' 2,580 730) (11,665) 59) 1,079 8 _2,618 43) ( 955) I parenthesis indicate decrease. Foreign Exchange Review Continued from page 42 lowered their rates with every transaction. On Wednesday, the 21st, interbank dollars were at 1/8, 1/16% pr. and finally at par, there still being a great reluctance on the part of the buyers to part with their pesos. Thus, there being no exchange cover available, banks were obliged to quote to their clients extremely unfavourable buying rates; T/T-par to 1/8% discount, 60 days sight L/C 3/8% discount and 60 days D/A at 1/2% discount. It became evident on Thursday that exchange market was extremely vulnerable not only to selling orders but to buying orders as well, as a small interbank dollar purchase resulted in the rate moving up to 3/16% pr. In other words the rates became nominal, with business very restricted. On Friday, interbank sales were regis tered at 1/16% pr. spot, which later became a good buying rate, and 1/4% pr. for June-July deliveries. The latter indicated general anticipation of higher dollarpeso rate in the near future. In the absence of regular cover it was difficult for the banks to quote fine rates to their clients and merchants' business was generally closed at the following rates: bank selling dollars at 1/2 to 3/8% pr. spot, around 1/2% pr. three and four months forward, bank buying rate was 1/8% pr. to par spot T.T., sight L/C1/8% discount, 60 days L/C-1/4 to 3/8% discount and 60 days D/A 1/2% discount. This spectacular weakness of the dollarpeso rate may be attributed to the following factors: 1. Payments of income tax which resulted in cash being concentrated in one bank only. 2. Large offerings of dollar bills by exporters and heavy withdrawals of cash by the provinces, where payments for export commodities had to be made. It should be remembered that prevailing high prices for Philippine commodities necessitate much larger outlay of cash by exporters, that say three months ago. 3. Existence of a large number of dollar purchase contracts for May delivery, which could not be used for lack of merchants' demand, and therefore had to be liquidated on the market, or shifted forward, in either case resulting in offerings of ready dollars. 4. Sales of dollars by the mining companies in preparation for dividend payments. 5. Appearance of dollar checks drawn on the U. S. Treasury, in conjunction with U. S. Army disbursements in the Philippines. BUSINESS AND PROFESSIONAL DIRECTORY CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships I. I -1 Investments Collections Income Tax 560 Taft Avenue ' Manila, P. I. - 44 The Amertcan Chamber of Commerce Journal June, 1941 (

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Quintin Limquiaco, esq. -Of Limquiaco & Co., at Dumaguete, Oriental Negros. "Enclosed herewith please find postal money order for P4 as advance payment for a year's further subscription to the Journal. It has helped us a great deal, especially the commodities quotations. May it continue in publication for many years to come." Dr. Leandro H. Fernandez -Dean, College of Liberal Arts, University of the Philippines "In Volume II, No. 6 of The Amer-.can Chamber of Commerce Journal there appears an article written by Mr. John G. Russell. I desire to reproduce this article in the Philippine Social Science Review if you will be good enough to give me permission to do so. The Philippine Social Science Review is a quarterly magazine published by the College of Liberal Arts, University of the rnilippines, primarily for student use." (This magazine always grants perlission for republication of its articles, only trusting that in all cases due credit will be given). * * BANCO HIPOTECARIO DE FILIPINAS B a n c o Hipotec r io B qil d i n g 3-9 Plaza Cervantes, Manila SAVINGS ACCOUNTS Accounts opened from PI.00 up with interest computed quarterly. FIXED DEPOSITS At rates which may be had on application. 0 -ANDRES SORIANO E. VAZQUEZ-PRADA President General Manager ---;~;- -------- — ~ I I q.4 I r L I HALLICRAFTERS WORLD'S LARGEST BUILDERS OF COMMUNICATIONS EQUIPMENT Sidney "Sid" Baxter -Manager, Tagaytay Golf Course, Tagaytay. "We inaugurated our Golf Course July 21 by opening nine holes, with His Excellency, the President of the Philippines, officiating. That was almost a, year ago and we can truthfully say that this half of the course is now in prime condition. Construction work on the second half has been completed. The full eighteen should be ready for play sometime next month, August. "At that time this newly constructed nine, which is 250 yards shorter than the other half, will become the first nine, that is, the pres The new SKY BUDDY is SIX MODELS TO SELECT FROM an amateur receiver in every respect, covering Model No. Description Tubes Retail everything on the air S-19 R Sky Buddy 6 PI50.00 from 44 mc. to 545 kc., S-20 R Sky Champion 9 215.00 including the 10, 20, 40, SX-25 Super Defiant 12 460.00 and 160 meer ama- SX-28 New Sky Rider 28 15 730.00 80 and 160 meter ama- s-29 Sky Traveler 9 245.00 teur bands. It now em- EC-I Echophone 6 100.00 ploys the same electrical bandspread system used in higher priced Hallicrafter models. The more important features are: Electrical bandspread, broadcast band, BFO, AVC switch, phone jack, pitch control, built-in speaker. 0 Liberal Discountfor Cash F. H. STEVENS & CO. Sole Distributors 227 DAVID-MANILA I i I The American Chamoer of Commerce Journa1 July, 1941 1

ent number one tee will become number ten tee. Par will be, under this new arrangement, Out 34, In 35. Without changing nar on old numbers two, three and four (which with the changeover become numbers eleven, twelve and thirteen) front tees have been completed and are ready for use which will make walling easier and tee shots can more easily negotiate the Big Ditch. "Natural drainage in Tagaytay is so excellent that comfortable golf and dry feet can be enjoyed during the rainy season. If its fog-a-laLondon-or-San Francisco you like, 1. PERMASAN WOOD PRESERVATIVE AND MOISTURE REPELLENT OIL SOLUTION Especially Compounded for the Treatment of Wood Employed in the Wood Using Industries, Home Building and General Construction to Control Decay and Attack by Termites and Wood Borers and to Minimize Shrinking, Swelling, Warping, Checking, Nail Splitting and Grain Raising. NORTON AND HARRISON CO. 119 13th Street Port Area, Manila 4 try our place through July, August and September. "We have found that it is sensible to use our fireplace each evening except for two months of the year. During the past hot season our temperature rarely exceeded 87 degrees Fahrenheit. "A Clay-shell tennis court and a bermuda grass court are always ready for use. "The new dining room will be opened by the middle of July. Two guest rooms, each with twin beds and private baths are below this newest addition. Four guest cottages are now being constructed. These will consist of two bedrooms, two baths, veranda and garage. Quarters are also provided for personal servants. Several of our patrons are now planning to build private cottages near the Course. "Course rates are as follows: P5U.00 per year, P27.50 per half year, P5.00 per month, P1.50 for ordinary days, P2.00 for Saturdays, Sundays and all Holidays and P1.00 for nine holes any time. Chits may be signed on credit arrangement with the Manila Hotel or with the approval of the Manager at the Club House." * * * I. B. Powell, esq. — An old subscriber (always a student of Philippine affairs), an educator in Wales. "The Journal has been coming through very well. I can't tell you -- -~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sixth Commonwealth The RED CROSS hears but one cry-the voice of human suffering and need-and it has but one answer-the outstretched hand of mercy and coinpassion. WE NEED YOUR HELP TO CARRY ON! More than ever before the Red Cross needs your support this year. Give Generously! Special Emergency Re.,.tP::..,. )11 Call -1 This space by courtesy of PEOPLES BANK AND TRUST COMPANY / 2 The American Chamber of Commerce Journal July, 1941

jI tj I I m how delighted I am when it comes in and I must congratulate you yet once again on your achievement in producing month after month what seems to me the best Chamber of Commerce Journal produced anywhere.... I never cease to marvel at how you do it single-handed. Your articles on Philippine-American trade will, I hope, one day bear fruit. It won't be your fault if the importance of the relationship continues to be under-estimated and misunderstood in the United States. You have made it crystal clear. As an historian I have of course rejoiced in the series on the history of American commercial relations with the Islands.... I thought the article on Banks and Currency a most valuable one indeed. One of the most enjoyable evenings I have had this long, long while was when the December number came in and I sat down to read your very delightful article on Manila street names. I read it several times, and before I was through my desk was covered with Montero y Vidal, Barrows's little history, volumes of the E. B., and old numbers of the Journal.... "I have not said anything about the war, which is probably what you want to hear about from me, but there is not much that I can say.... We have not been much inconvenienced ourselves. Of course, there is a terrific amount of extra work to do, but we don't go short of anything except oranges and bananas. We find that we manage very comfortably on our rations. "We are much cheered by the growing cooperation between our country and the United States, and I can see no hope either for ourselves or for the American people now or in the future when war is over except on the basis of Anglo-American cooperation; and I for one don't mind if you write that AmericoBritish cooperation. In the long run it's bound to work out that way. This is going to be the American century, as Luce wrote some time ago, and I hope America rises to the call.... The only thing that the man in the street is concerned about just now is when is the United States going to enter the war. Unfortunately he knows little of the American internal situation and less about the Far East and the role America is playing there to our mutual advantage.... I have done a night's fire-watching. It was an entirely quiet night and I occupied myself with John Buchan's autobiography: Memory Hold-the-Door. He had a real love of the United States and American History, and he de votes a sympathetic chapter to what he calls My America. He too believes that to American hands 'is chiefly entrusted the shaping of the future. If democracy in the broadest and truest sense is to survive, it will be mainly because of her guardianship.' He also has something to say about another thing on which L LUZON BROKERAGE CO., INC. Derham Building MANILA P. O. Box 591 Port Area Tel. 2-24-21 Licensed Customs Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen on A1 1; I" __ I WISE & COMPANY, INC. Cebu MANILA Ioilo FOUNDED 1826 EXPORTERS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum IMPORTERS Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds Wise Building, Juan Luna MANILA OFFICE Cable Address "SAPIENS" Standard Cody.1 U l!= I zr Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL 2,000,000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. O. Box 3369, Manila, Philippines I - I I Is 7'h American (Chalmber of Commelrce Journa July, 1941 3

I; =n I have commented, the American pioneer. "'There are two types of Americans that I value especially, and which I have never met elsewhere in quite the same form. One is the American pioneer. No doubt the physical frontier of the United HANSON, ORTH & STEVENSON, INC.|| States is now closed, but the pioneer 7ANSO, O still lives.... By what sign is he ~~~~~~~~~MANILA r r ^~T 11r In^7 to be known? Principally by the MANILA CEBU DAVAO fact that he is wholly secure, that he possesses his soul, that he is the true philosopher. He is one of the few aristocrats left in the world. He has a right sense of the value of life, because his cosmos embraces both nature and man. I think he is IMPORTERS * EXPORTERS the most steadfast being now alive.' "Do please take this as a text and write of the Americans who have fought and taught, toiled and raised families on 'the last frontier,' the Philippines." (In his letter as a whole, Reader Powell lays us out a ~STEAMSHIP AGEd~NTS~ ||~ | ~ pldeal of writing that it would be our STEA-M SSHI P AGENTS pleasure to do if every hour might be for writing and research alone. We do, every month, what is possible in the circumstances, always having in mind that the printer must be paid. Powell rightly considers the Philippines the latest, if not the last, T 1iT C: T T D z INSURANCE ADE It rt XT toAmerican frontier; but however INSURANCE AGENTSWL tD strong nostalgic inclinations are, the magazine can't record more history for him than it does-it must keep step as best it can with the living country of the Philippines and the doings of men today.-Ed.) COOL OFF! A:_,^ ^I..S,?v_ ^^ /with a glass of ice - cold nate ilscn The BEST of GOOD BEERS Since 1890 dan ~~~~~~~~~9niguel-Idwunwpp.1 I 0. I 4 The American Chamtber of Commerce Journal July, 1941

His Excellency Hon. Manuel Luis Quezon President, Commonwealth of the Philippines With Vice-President Sergio Osmeina, Heads of Other Branches of the Government, and Cabinet Officers. PRESIDENT MANUEL L. QUEZON Two hundred thousand Filipinos comprising a fifth of the population of the metropolitan area, participated in Loyalty Day June 19, when the country, on the 80th anniversary of the birth of Rizal, heard the broadcast of President Quezon's address from Malacanan, in which President Quezon said: We owe loyalty to America and we are bound to her by bonds of everlasting gratitude. Should the United Stated enter the war, the Philippines should follow her and fight by her side. Hon. Sergio Osmeia Vice-President, Commonwealth of the Philippines Hon. Ramon Avancena Chief Justice of the Supreme Court Hon. Jose Yulo Speaker, National Assembly Hon. Quintin Paredes Floor Leader, National Assembly l'he American Chcmnber of Commerce Journal July, 1941 5

I Hon. Rafael Alunan Secretary, Department of Interior Hon. Manuel Roxas Secretary, Department of Finance Hon. Jose Abad Santos Secretary, Department of Justice Hon. Benigno S. Aquino Secretary, Department of Agriculture & Commerce Hon. Sotero Baluyot Secretary, Department of Public Works and Communications Hon. Jorge Bocobo Secretary, Department of Public Instruction Hon. Leon Guinto Secretary, Department of Labor Hon. Teofilo Sison Secretary, Department of Defense Hon. Jose Fabella Secretary, Department of Health & Public Welfare Hon. Jorge B. Vargas Secretary to the President 6 The Amerzcan Chaimber of Commerce Jourt.a July, 1941

Diesels Manufactured At Sibul. The story was that diesels were being made at Sibul, Bulakan, from iron smelted right at the shop, an American's shop. We therefore went to Sibul, as hardly anything in industry and metallurgy could be more interesting. Once there, we found some ornamentation in the story. Diesels are being made, and with them centrifugal pumps, but they only might be made from the tough iron smelted crudely in that vicinity from enormous deposits of highgrade magnetite and hematite, some of the magnetite we saw running 65% pure iron. When castings for these diesels and pumps are actually made of this material, it will be a time when demands on the shop make it practical to install a furnace for reducing the ore-and to keep the furnace going. It seems it would not be practical to have a furnace just for running a charge now and then for the limited number of castings the present volume of business requires. There would have to be some supplementary patronage, so that the furnace would be going all the time and constitute in itself a branch of the industry. For according to Dalburg and Pratt (Philippine Journal of Science, 1914: Vol. IX, No. 3, JuneIron Ores of Bulakan) it is reasonably certain that more than a million tons of ore are available. Filipinos have a crude way of smelting them, that is also ingenious and economical, and cast the iron in plow points and plow shares sold in sets at P1.20 each, for Philippine plows, all over the Islands; and though they are made direct from the ore, they give universal satisfaction. Beginnings of this little smelting industry date back to 1664. An unknown Englishman once had a hand in it, and the kiln now used to make the charcoal for the smelters follows his design and is called an inglesa. The charcoal comes from the forest coverage and is first class, as it would have to be to serve as coke in the smelting of ores. The ores are not self-fluxing, but the clay with which the furnaces are lined serves as a suitable slag, the process being altogether curious in every ramification. But enough of that. The diesel shop at Sibul is the property of J. A. Woodworth, a diesel expert for the past 30 years. He is a New Yorker, from Union Springs, Cayuga county, the nearby A Woodworth Diescl backed by the funny Way in which Berlin handled the mark. At this juncture Engineer Woodworth got an idea that he felt would beat the Germans. It was to manufacture diesels and pumps right in Shanghai, chiefly for the farmers of the surrounding provinces. So he left Fairbanks-Morse and tried out hi" idea. It worked so well that he finally had a shop stocked with 200 tons of first rate tools and using a force of 200 men, capable of turning out 5 complete pumps a day. The Chinese farmers usually clubbed together to buy an outfit, a diesel and a pump, and would move it from one man's fields to another's for the adequate irrigation of all their farms. There were 2 seasons of the year during which they would buy, about 3 weeks at a time; and during the remainder of the year, stocks accumulated, only to be surely cleared out when the next buying period came along. This was in Yangtzepoo, north of Soochow creek, and the shelling of July 1937 put abrupt end to it. The demolition included 'Proprietor Woodworth's nerves, so, placing the shop in the charge of a British friend, he came to Manila to rusticate. Inquiring at Ah Gong Sons & Co., the grocers, for a suitable place for resting in the provinces at not too great expense, they told him of Sibul and he went up there-finding it all it had been recommended to be and enjoying the remarkable sulphur baths. However, in a few weeks his British friend cabled him he would have to hurry back to Shanghai if he wanted to salvage his property, and he went back there accordingly, scrapped half the machinery, packed the other and least dispensable half, and brought it off to Manila on showing the Japanese in charge at the Shanghai customs ftiat he was not unloading it at Hongkong. Since Sibul is in the heart of the central Luzon rice region, where his business would be, and he knew the place, he put his shop there. Planters readily find it, and a little patronage also derives from Manila.- About 5 outfits, diesels and pumps, a month are sold, and 21 workmen employed. Both the pumps and the engines are low-pressure, about 60% of theore[Continued on page 11] A Woodworth Pump city being Syracuse. He is 53 years old now, but was a young mechanical engineer when he first came to the Pacific selling McIntosh & Seymour diesels, many of them in Australia and New Zealand. This was a very heavy engine, metallurgy has made its more modernized rivals much lighter. Then, about 22 years ago, Mr. Woodworth went to China, with headquarters at Shanghai, for Fairbanks-Morse, selling their diesels and pumps. Business went well for a few years, when it was knocked groggy by German competition The American (ha'mber of Commerce Journal JU4y, 1941 7

A Trip Through Northern Luzon By H. Jacoby Manila is not the real Far East. When I first came to the Philippines four months ago I was delighted by the charm, the beauty and the fashionable appearance of Manilathough a little disappointed with the lack of Far Eastern coloring. In Manila, American culture and technique have won a considerable victory, though it was unavoidable that this victory was paid for by the loss of the Far Eastern atmosphere. Therefore I was extremely happy, when only a few weeks after my arrival, I got the opportunity of a trip through Luzon. What would the country look like which surrounds this unusual town? How would the countryside look, what would the economic appearance be? It is a matter of course that a recent arrival in the Far East makes you observe things which often are matters of fact for the oldtimer. Every newcomer has the feelings of a discoverer. I have it still. We went by open car, which sometimes was rather hot, but to a large extent increased the possibilities of enjoyment. On our trip we passed through Baguio, Cervantes, Tagudin, Vigan, Laoag, Claveria, Aparri, Tuguegarao, Bontoc, Bayombong, Cabanatuan, and back to Manila. It would mean going too far to reproduce all the impressions gathered on this trip. Only the most important incidents will suffice. First of all I want to state what I expected. I expected a country standing far behind Manila and with very primitive and uncultured ways of living and working. I thought that the speed and eagerness of organization would decrease rapidly beyond the borders of Manila, and that the Eternal East would place its imprint on the whole country. I found something absolutely different. Surely the country is primitive. The same can be said about the conditions of life and work. Though with surprise I saw development going on everywhere. I saw speed, and the will for modern organization. I saw the endeavor to intensify the cultural work and to create a modern communication system. It is ridiculous to make comparisons on the basis of European and American are odious. fects. You cribe them. of course. derestimate standards. Comparisons You can easily find decan notice them and desThis is a simple matter But only 'those who unthe difficulties of colon ization will pay any decisive attention to obvious deficiencies. The first glance at Northern Luzon with the small barrios and the old Spanish towns in the middle of decorated with the American and Filipino colors, where a whole na. tion is learning. A high Filipino of. ficial has told me that the develop. ment of the last forty years, where Filipinos learned more than during centuries of the Spanish regime, can be proved by a simple example. For. ty years ago we only had a fewv schools, but did not even have the children who wanted to attend school. Today we have many schools, but now have not room enough for the children who want to learn. But we seldom saw hospitals. Towns with 15,000 inhabitants or more were without any hospital. However, today education is even more important than hospitals. It may seem distressing from our point of view, but it is easy to understand considering the population problems and the financial situation in the Philippines; without education and roads any hygienic endeavour will be absolutely in vain. Ethnologically seen the Mountain Province of course was the most interesting. We had been looking forward to our first meeting with the Igorots. Therefore we were a bit disappointed with Baguio with its civilized Igorots, but in return the barrios were more interesting. Here we saw the primitive life of those mountain people, the women busy with home-weaving and the practical activity of the men: from hunting to house-building. Later on in Imugan we saw a settlement school where the children of the Igorots get their first instruction in agriculture, reading, writing and arithmetic. We saw the boys working their little piece of land with touching carefulness. Whoever does not understand the dimensions and difficulties of this educational work, should pay a visit to this lovely mountain school. Here he will learn to understand that development takes time. Quite different are the problems in the provinces along the western coast of Luzon, in Ilocos Sur and Ilocos Norte. Here the irrigation problem is of greatest importance. The greater fertility of Ilocos Norte Rice Terraces tropical scenery shows three different economic types existing side by side: the old tribal-economy, the feudal-economy, and modern capitalism, the latter using the most modern technique. The co-existence of those different economic types often creates rather grotesque contrasts. Surely this causes severe conflicts, but at the same time it produces pictures of peculiar charm. You see the most modern American machines next to primitive implements pulled by carabaos. A modern suspension bridge arches over old bamboo ferries driven by hand-power exactly as they were hundreds of years ago. From the roads you see the numerous schools of the Commonwealth, 8 The American Chamber of Commerce Journal July, 1941

I I I I I I I I i i Ii Ii i i II only seems to be a consequence of irrigation. The modern irrigation system of the Vintar dam has at one blow changed the essential conditions of quite a number of barrios. On our way towards the North we mnade an excursion to the province of Abra in order to visit the agricultural highschool of Lagangilang. I must confess that even in Scandinavia I hardly saw a highschool which gained such imposing results with so limited means. The school is conducted on the most modern principles. The pupils live in a barrio of their own and have a jurisdictin of their own. Very little is bought for the pupils, they have to make everything themselves. Not only their tools, furniture and houses, but even a very effective, though primitive irrigation system, built of bamboo. The head of this school, an excellent pedagogue, told us that the boys in his school produce 100 % more rice per area than farmers do on the surrounding farms, though the school does not use an artificial fertilizer, but only uses the straw for fertilizing. Those figures prove the great importance of agricultural supervisers in this country. The trip along the coast of Ilocos Norte is really a great adventure for the tourist. The spurs of the mountains from the Mountain Province almost reach the coast. From the narrow road on the hillside you have the most beautiful view over the China sea almost without interruption. But in between you go through virgin forests filled with the song of numerous cicadas. On the most lovely spot of this road the Government resthouse of Banua is situated. The province of Cagayan looks quite different. The countryside here brings no surprises. Barrios and towns look rather poorer here than in other provinces. Distressing was Aparri. Once it was the biggest port for the export of tobacco from the whole province. Today this town with nearly 30.000 inhabit ants has completely lost its importance, as the new roads down to Manila have created a possibility of transporting the tobacco with a fraction of the former expense and time. Now this town lies unprotected against the sand, which moves further and further right into the heart of the town. This port without piers was the most distressing I saw on my trip. Tuguegarao, situated right in the center of the tobacco region, is full of life. From an economic point of view Cagayan seems to be one of the most interesting provinces on Luzon. One of its greatest difficulties seems to be the growing problems in the tobacco market. The Government is expecting much from the development of the co-operative organizations, which here, as similarly in the rice-provinces, by their price-policy try to influence the quality instead of the quantity and at the same time want to establish a better organization for marketing. However, one is aware that the export chances for tobacco will decrease after 1946 and therefore the agricultural policy of today more and more tends to a change from tobacco to rice and corn. Also a high official told me that the raising of tobacco in Cagayan is an excessively hard and badly paid work and that a change to rice and corn would raise the wealth of the province. But here too the supposition for further development is once more the improving of the irrigation. The crops would be multiplied and great parts of the country would be saved from the overflowing of the Cagayan river. But this is an economic question, as everything is in connection with the material and cultural progress of this country. On a new road not yet opened to traffic we returned to the Mountain Province, but with some difficulties. Passing this way we could notice to what extent new roads change the appearance of the country. Yet untouched valleys are opened for settle U_ ~ Tabacco Factory Igorot huts ment, remote barrios are adapted to the economic system of the country. Modern tractors working side by side with carabaos accomplish this work. Going through the domain of the Kalingas-people of a primitive beauty, much friendlier and more gay than the Igorots-we reached the main town of the Kalinga settlements, the marvelous Lubuagan. Baguio can be envious of its panorama. This little town with an academy, hospital and St. Theresian convent shows the charm of a town in which the greater part of the inhabitants still are the first generation in a town settlement. We came through Bontoc, the capital of the Mountain Province. A town much like other towns, but the native village above the town showed the most distressing hygienic conditions with its small primitive huts without any windows. Human beings, hogs and rats live almost on the same level. But even here one can notice some progress. The children from this village, who now are educated in the schools of the Commonwealth, address the visitor in English and offer to show him the native village. Of course those kids want to earn a penny, but the way in which they behave already shows a certain superiority over the misery of the elder generation. On our way through the Mountain Province we passed the very ancient rice terraces of Banaue, reaching from the bottom of the valley nearly [Continued on page 11] T he American Chamber of Commerce Journal.*h17, 1941> 9

American Chambr of the PE DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary COMMI EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs E. A. Perlkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairmlan A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. 0. Myers C. V. Morton L. G. Hubele er of Commerce hilippines ALTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames T T E E S: FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman E. Bradley Failchild J. Traynor J. P. Liggett J. A. Meacher E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITT EE H. Dean Hellis, Chairman J. H. Alley G. T. I-errmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather —Rattan) S. M. Jones (Sugar) J. L. Headington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairmanr William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen J. P. McPherson H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean Hellis T. Kevin 5Mallen A. P. Ames L. 1WI. -atla -n-an H. L. Suarez successfully to defend it. "Human rights will be at tacked as long as greed and lust for power exist." He felt that real peril has risen from the easy security of America's position in the past, but that she can at this juncture, if she will, because of her great power, forge the destinies of the world anew. The emphasis on the fact that battle may soon be familiar once more to American youth, for democracy is threatened, was repeated by Rear Admiral H. M. Bemis, U. S. N., at Cavite, and by Major General Jonathan W. Wainwright, U. S. A., commanding at Fort McKinley. There was an evening address by Dr. Carlos P. Romulo over the radio, and so Memorial Day passed with special anxieties about the imminence of the end of peace under the American flag talked about in Manila, but slightly felt. Manila Elks celebrating Flag Day June 15, yielded to the tension of the times and to accommodate all guests and friends held the exercises at the Manila Hotel, where the orator of the day was Claude A. Buss, Com. missioner Sayre's executive assistant. The Buss theme, and the speech as delivered was very popular, was that "war is here and Americans and those who are with them should face it realistically... there is no use deluding ourselves." It seems a long way back to June 15 when the Russian Bear and the Prussian Eagle were still brothers. Meantime we have overlooked June 12, anniversary of the proclamation at Kawit, Cavite, of the Philippine republic in 1898. Aguinaldo's address to his Veteranos on the Luneta reiterating that trust in America that he has felt and often expressed ever since the fighting ceased 40 years ago, was still inspiring in its sincerity. For Loyalty Day, however, President Quezon chose June 19, the 80th anniversary of Rizal's birth. Arrangements were under the auspices of Labor. The afternoon parade was the big feature, with the review as usual on the Luneta opposite the Rizal monument. The lowest press estimate of the crowd on the Luneta that we have seen is 200,000 persons. Such a figure is remarkable, in itself a genuine compliment to America, for it is 1/5 the population of the city's metropolitan area, the town itself and its immediate suburbs not yet within its boundaries. Many believed, no doubt, President Quezon would actually be there himself, and that they could see him. He was, of course, still too little recovered from long and trying illness to appear. Having reached Malacaian in our pictorial series on men who govern the Philippines, under President Quezon's picture in that department we quote briefly from the broadcast of his Loyalty Day address from the palace. "This enthusiastic demonstration," he also said, "is doubly significant because it is held upon the initiative of our laboring masses and their leaders who in this manner have sought to prove that their loyalty to our country is above their loyalty to any class.... The onward march of military conquest is proceeding relentlessly and with unabated speed. Britain remains alone fighting gallantly against -tremendous odds to stay this march and to maintain the flame of liberty in those hands where western civilization was born and where it at tained its highest development.... President Roosevelt.... has proclaimed the United States the arsenal of democracies fighting to maintain their liberties.. This address will go down in history as one of the most fateful documents of all times, and the decisions enunciated therein will, I believe, affect the destiny of mankind." Closing, he quoted directly from Roosevelt's proclamation declaring a national emergency: "I call upon all loyal citizens to give precedence to the needs of the nation.... I call upon loyal leaders and officials to cooperate with the civilian defense agencies.... I -- GENERAL DISCLAIMER About World War II and the why's and wherefore's of it we are much akin to the subject of a police third degree in a recent New Yorker cartoon: he said he was born, then everything went black. (At the pace Hitler sets, Mussolini and Japan as his allies must feel almost as blankly in the dark). Readers will have to whet their martial curiosity on other pages than ours, though next month we hope to review a number of The Annals telling about Japan, America, and the Pacific. PATRIOTIC SAMPLER Days of patriotism have been passing. On Memorial Day Commissioner Sayre speaking at Cementerio del Norte said Americans are nowadays too comfortable in their democracy and taking its benefits too much for granted. He said it took fighting to set this democracy up and maintain it, and may well take more fighting soon 10 The Amerioan Chamber of Commerce Journal July, 1941

call upon all loyal citizens to place the nation's needs first." Vice President Osmefia read the loyalty pledge to the solemnly impressive multitude, to whom the sun and the rain of the day were alike welcome; and you saw them going home, far home, miles away home, tired but still glowing of eye and of countenance, and in the rain. Typhoon rains washed quite off the program the grand military parade of Independence Day, July 4. There remained Commissioner Sayre's public address at the Pavilion of the Manila Hotel, with some commonsense excerpts from which we close: "The increase of a nation's tariff today may tomorrow throw a million men out of employment on the other side of the world. The invention of a new synthetic process or substitute material may shift the trade of an empire. No modern industrial nation can maintain its standard of living independent of the raw materials and markets of a dozen other countries;... the concern of one nation is the concern of every nation. There can no longer be any such thing as complete national isolation. "So utterly interdependent, so vitally knit together are the peoples of the world today that the crisis facing America on July 4, 1941, is far more critical than that which faced America on July 4, 1776. Then the issue was liberty and democracy for a handful of people in a single colonial area in a far corner of the world. Today the issue is liberty and democracy for all humanity. It is not only America's rights which are now at stake. It is humanity's rights. It is not only freedom for America which is now at issue. It is freedom for all humanity. The peril confronting us is profound and world-wide.... Wherever the philosophy of force establishes domination, civilization as we know it ends. One or the other must go under." A Trip Through... Continued from page 9 to the top of the mountain. Those rice terraces were the most unforgettable impression of the whole trip. Those green staircases which industrious work for centuries has chiseled into the mountain is one of the most impressive monuments of human civilization. Here culture and nature are unified. It was difficult to part from the Mountain Province. Besides, the way down into the lowlands meant the way back to the tropic heat. The last big town we passed was Cabanatuan, the capital of the ricegranary, Nueva Ecija. A short time ago it was ravaged by a big fire, but today it is nearly rebuilt. In this province the tenancy problem is of big importance, as about 80% of the fertile land is cultivated by tenants. The problems in the rice provinces in some ways are similar to those of Cagayan. Only a better irrigation system and a development of the co-operative organization can raise the standard of the province. Standardization of the rice production is of great importance. Outside of Cabanatuan the new, great rice mill of the Naric is situated; it is said to be the greatest mill in the Far East. In contrast to the private mills, it is provided with splendid scientific laboratories, where the prices for the different sorts of rice are fixed. This great government mill with its splendid technical equipment-only 25 workers and 8 mechanicians are necessary -is already of an important influence on the price of rice, because it has a stabilizing effect. It was interesting to see Manila again after this trip. I looked at the town with quite different eyes; now it did not seem isolated anymore. I know that I only saw a small part of this country, but I think it was enough to tell me something about its problems, difficulties, struggles, and goodwill toward the future. This has found its strongest expression in the building of roads on this large scale and in the educational policy, in reality the most important elements and the basis for any further work. Most likely, and in spite of all difficulties and in spite of unavoidable reactions, the development of this country will continue with a remarkable speed. If a man had the pros pect of 30 to 50 years to observe this country, he would be able to take a survey of an important period of social, cultural and economic development. Diesels Manufactured At... Continued from page 7 tical efficiency, but rather fool-proof and well built. The shop turns out the patterns, the casting is done in Manila (much of it at Earnshaws Docks & Honolulu Ironworks), and back at the shop the pieces are properly tooled and fitted into the finished products. The American pioneer who does these things so casually shows the marks of sound character and education in his every gesture and word, and for all his many years in the orient, has contaminated his vocabulary with not a single word of pidgin; and he carries on at Sibul, except for lighter clothing, exactly as he would at Union Springs or Syracuse. His more ambitious years are of course behind him, and the good living his diesels and pumps make him is all he asks of times as they are today. His diesels are small, 3 horsepower to 25 horsepower. I I i IL Breakfast is Different: and Libby's is the brand! Pick Out Your Juices from I Pear Peach Pineapple Orange Apricot Tomato Concord Grapes It's always wise to have them on hand!.. The American Chamber of Commerce Journel 4luY, 1941 11

Here's how to get ManilasJ Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! List of Distributors furnished upon request to-, 1 1 I I I Translation From Dr. Palma Second installment of the late Dr. Palma's commentary on Philippine Economic Progress. The 19th century witnessed the economic birth of the Philippines. The British occupation of Manila was followed by a treaty that opened the city to world commerce. On the other hand, the independence of the United States followed by that of the Spanish republics contributed materially to the decline of the mercantile theory relative to colonies, which was supplanted by the theory of laissez faire, laissez passer! Spain's colonial policy was modified by these influences and in Spain the necessity was felt of uniting the Philippines to the mother country by stronger bonds. The first thing thought of was to establish direct maritime communication with Manila by way of the Cape of Good Hope. A cruiser was dispatched annually from Cadiz to Manila, bringing out European goods to this market and taking back to Spain not only Philippine products but products of the orient generally, including manufactures of China and Japan. The innovation was not welcomed in Manila, where merchants refused to send goods to Spain on the cruisers' return voyages; but the cruisers continued making these voyages until 1783, when ships of the Royal Company of the Philippines came into operation over the same route. The advent of Governor Jose Basco y Vargas in Manila marked a new era in the economic history of the Philippines, since 2 memorable events occurred during his administration, the founding of the Economic Society of Friends of the Country in 1781, and the organization of the Royal Company of the Philippines in 1785. it was Vargas's purpose to make tlhe Philippines economically independent without the necessity to rely on Europe. To this end he encouraged agriculture, offering prizes to farmers excelling in the production of cotton, spices, sugar, and silk; and to miners in all branches of that enterprise, to inventors of useful things, and to all who excelled in the arts and sciences. Vargas broadcast circulars and pamphlets explaining how to grow and cultivate the various products of the Philippines. The Society of Friends of the Country accomplished a great deal in the field of propaganda, though much less in actual development of the country's agriculture because of the natural indolence of the different elements of the population. However, the society did succeed in diversifying the crops of the Philippines, and it introduced scientific methods of cultiva tion affecting every crop, as well as the use of modern implements. Vargas also founded the tobacco monopoly that had been urged as desirable by the fiscal Viana as early as 1766, for the enormous revenue it would provide the public funds, for nearly all Spaniards used tobacco in form of snuff, priests as well as the laity. This measure encountered tremendous opposi. tion, but Vargas effected it with his customary energy and determination. It began March 1, 1782, and constituted the base of the treasury's prosperity, being the most important source of public income. But the evils entailed by the tobacco monopoly were various; the abuses, for example, of the officials in applying the rules of the administration and in trying to profit personally. The want of incentive in the producer to better the quality of his tobacco, the prevalence of contraband leaf and of graft, and the poverty of the laborer-all this appertained to the tobacco monopoly, that endured to 1882. The Royal Company of the Philippines was founded with these objectives: to establish commercial relations between the Spanish colonies, and between the colonies and Spain; to provision the Philippines with goods from Spain, and to take to Spain Philippine products and those of the orient in general, developing the agriculture of the Philippines at the same time. The capital was 8 million pesos in shares of P250 each. The king himself bought 4,000 shares, and 3,000 were set aside for Spaniards in the Philippines. Laws of Spain against importation of oriental textiles were repeated in benefit of the company, and duties against Philippine products, both at Manila and in Spain, were suppressedl. Manila merchants were also permitted to trade at the ports of Asia, and the Chinese were permitted to trade in Manila without restriction of an' sort. The one limitation was that Manila should send her annual galleon to Acapulco as usual, and the Royal Company could not send ships there. This enormous enterprise might havet been of immense benefit to the Philippines had its plans been pursued systematically, in reality, the results fell far below the hopes of the founders, for various reasons -principally the want of energy and tenacity as to commerce in the Spanish character. Notable achievements marked the life of the company. In Camarines, PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Products "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". - 12 The American Chamber of Commerce Journal July, 1941 I

I I I I 500,000 mulberries were distributed for planting, and Chinese familiar with the industry were brought in to cultivate the mulberries and produce silk. After a number of years the operation was successful, the quality of the silk, according to the Chinese themselves, being a little inferior to Nanking silk but much superior to the Cantonese product. A shipment in 1784 found a good market in Cadiz. The Company assisted the growers with sums to purchase equipment and to dispose off the product, until 140 quintals were exported in 1786 and a like quantity 2 years later. The Company also interested itself in the cultivation of sugar cane, and in 1786 exported 860 arrobas of sugar to the Peninsula, followed in 1788 by 9,663 arrobas exported to the Peninsula, India, and China, and in 1789 by a quantity of between 40,000 and 50,000 piculs. Cotton was still another export that the Company tried to help and expand. Great hopes were placed in this product, not only to supply weaving establishments in the Philippines but also to satisfy the enormous demand in China and give employment to Philippine shipping. These hopes were partially realized in the first shipment to China, that had such a reception as to persuade the Company's directors that the cultivation of cotton in the Islands should receive their first attention. The Company acquired lands in Ilokos, Bataan, Cavite, and Camarines for the raising of, pepper and other spices. It applied every imaginable effort to the advancement of the economic progress of the Philippines in all its aspects, not only distributing money liberally to help farmers plant and harvest crops, but also offering premiums and other stimulants to husbandry. Yet despite the protection and special privileges the Company enjoyed under the law, it declined from year to year because of poor administration. In 1805 it was reorganized, and its charter was extended another 15 years; its capital was amplified by 12-1/2 million pesos, in shares of P250 each, par value, and foreigners were for the first time permitted to purchase shares. Its ships were authorized to depart from any port without touching at Manila, and the privilege of importing Asiatic products into the Islands and exporting products of the Philippines to foreign markets was made permanent. In 1830, all privileges of the Company were revoked and Manila was opened to free commerce and navigation. (Effected by British influence: Metternich was in charged in Europe.-Ed.). The Company's failure has been attributed to various causes. First, the long continuation of the galleon commerce with Acapulco, absorbing the attention of Manila merchants because it was the easiest way. Second, the Company's failure to establish direct trade with India and China (while other countries did so: Ed.), relying only on goods from those sources that were brought to Manila, hence paying higher prices for oriental cargoes than competitors paid. Third, that it did not import into the Philippines articles of staple consumption such as wines and comestibles that foreign ships brought to Manila at great profit. Fourth, that it succumbed to the Acapulco trade. The opening of Manila to free commerce and navigation gave the port a cosmopolitan aspect and the Philippines opportunity to pursue their economic progress. In 1809 a British commercial house gained permission to establish itself at Manila. Its example was soon followed by other foreign companies. Prior to this, no foreign company could sell at retail nor carry on business in the provinces. By 1842 there were 39 Spanish companies in Manila, mercantile and shipping and a dozen foreign companies, of which 7 were British, 2 American, 1 French, and the others Danish. One more French company had come into business in Manila by 1859, together with 2 Swiss companies and a German company. But except in Manila and Iloilo, there were no foreign companies in the Philippines. Once the foreign houses were firmly founded in Manila, they sought additional privileges and the opening of other ports; to export Philippine products by bring[Continued on page 36] -- YIP-E E! WE'RE COVERED I TIME FOR REJOICING There are always tense moments after every fire disaster. Only those who have passed through them understand the unequalled exhilaration that comes after discovering that the fire loss was adequately insured. E&J Resuscitator Saves Lives In treating all forms of asphyxia, in many thousands of cases, the E & J ResuscitatorInhalator-Aspirator combination has demonstrated its superior effectiveness, safety, reliability and simplicity of operation in Surgical, Obstetrical, and Emergency Services alike. BOTICA BOIE Philippine American Drug Co. 102 Escolta Sole Agents I Fires are bound to occur at the most unexpected times. That is the work of Fate. But insuring a piece of property is the work of mankindits owner or his agents. It is a good plan, periodically, to go over all your fire insurance policies in force. There may be an important insurance angle you have overlooked. You too, may some day have cause to shout "YIP-EE!" PHILIPPINE INSULAR LIFE BLDG. TEL. 2-2 4- 31 P.O.BOX 128 MANILA, PHILIPPINES *I: Ir The American Chamber of Cotmnerae Journal July, 1941 13

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Busuanga Island-Leading Source of Philippine Manganese Busuanga Island doesn't loom large on any map of the Philippine Islands. It is one of the Palawan group, southwest of Mindoro, and is reached by a 24-hour voyage on one of the few small steamers that ply between Manila and Palawan at more or less regular intervals. Busuanga can boast of no paved roads, no electric light plant, no cinemas, no hotel, and no garages with efficient P.U. cars for the asking. Its climate is somewhat malarial in the dry season, and it can be very wet when it rains. Its main town, Coron, has a picturesque harbor and a treacherous channel from the sea to the municipal pier. The wise steamer captains prefer to anchor outside rather than to attempt to enter at night. Most of the trading business is in the hands of the Chinese. The leper colony at Culion is a few hours distance away. But Busuanga Island enjoys today the spotlight of economic importance in the Philippines. Busuanga is mining and shipping high grade manganese ore, and manganese ore for the voracious steel mills of the United States is right now a whole lot more valuable than gold. Manganese, and manganese alone, thus far appears to comprise the total mineral wealth of Busuanga. The island is far from being completely prospected, but as yet no other mineral aside from manganese has been found. By way of compensation, manganese deposits appear to be widespread. Unlike deposits encountered in other localities, the Busuanga deposits appear to be more persistent in character, and the orebodies are frequently of considerable size. The grade of the ore is generally high and shipments usually average over 50 per cent manganese, which brings a premium price. When the price of manganese rose last year from P20 to P25, to P30 and more, good manganese prospects were in demand. Busuanga looked promising, but not much was known about it. It was off the beaten path, hard to reach, and quite frequently harder to leave. The island was plastered with claims, and a clear title of ownership was frequently hard to get with property lines in dispute. Transportation was, and still is, a problem. Bridge building was elementary, if somewhat lacking in structural design. A few stout logs were thrown across a creek, and presto, a bridge, over which an oretruck might pass with grim fatalism. There were no machine shops, bodegas, or supply houses of any kind. Experienced miners were scarce, and malaria took its regular toll from the natives. But manganese ore was needed for the war, and the price was rising. Conditions improved. Miners were brought in from Baguio and Paracale. Wages increased. Roads were built by the companies, bumpy but hard-surfaced, over which the trucks could lumber along. Besides Malbato Manganese ou at San Nice A m a I g a m a Minerals, In itcrop S I a s, C.ed IC. Manganese ore along Pina No. I orebody. and Coron where all the manganese ore was sent for loading on lighters, two new ports were established, Borac on the eastern side of the island, and Zeb Peters on the northwestern side, each capable of storing thousands of tons of ore in the bins, and loading quickly in lighters for ocean shipment. Borac serves the mines of Compania Minera de Filipinas, near the barrio of the same name. The Luzon Stevedoring Company built a 10-kilometer road from Singay where its principal mine is located, to the coast, and gracefully named its new port after its former consulting engineer, "Zeb" Peters, one of the most highly regarded engineers in the Philippines, whose untimely death in 1938 cast gloom over the profession. In 1940 Busuanga shipped about 15,000 tons of high grade manganese. Today the various mines on the island are shipping about 5,000 tons a month, and it is likely this rate of output will be increased. It seems conservative to estimate total shipments for the year at 50,000-60,000 tons. This is more than the entire output of the Philippines in 1940, and The American Chamber of Commerce Journal JUhY, 1941 15

should have an export value of approximately P1,500,000. All of this ore is being sent to the United States. No less than six companies are actively engaged in mining in Busuanga, each one of which has several mines under control. These companies, not in the order of their import the mines. Much of the work is on the surface which does not require skilled men, but there is an increasing amount of underground mining, using conventional stoping methods. While the manganese ores are often extremely hard, if of the psilomelane variety, the country rock consists tons have been loaded in 24 hours from the bins which have a storage capacity of 3,200 tons. The Borac mines have shipped about 10,000 tons of ore since June, 1940, and employ about 300 men. The camp, a community in itself, is well laid out. Mr. E. Panillao is superintendent in charge. Singay, the old Philippine-Nippon property, has a large camp about 25 kilometers from Coron. It has a radio station to Manila, with its own pier and loading bins at port Zeb Peters. The mines are extensively developed. Much of the ore comes from underground workings, which show con-,,...... I 1 ", """, I ~ ~~'~:~x c 3~ ~i:-~ J~ : "n:~;: Ip:~ II; 7-*.- */~A :~ ~:r r~ sn; ~"`'.:~~:.. f.t.-. Approaching Coron, Busuanga Island. ance, are the Luzon Stevedoring Company, with the Singay (formerly the Philippine-Nippon) as the principal producer, Amalgamated Minerals, operating at Demaniang and San Nicholas, Compania Minera de Filipinas, at Borac, Fernandez Hermanos at Carmelita, Cuyo, and Bayuyan, Union Manganese, and the Philippine Iron Company, a new entrant in the field that has been doing a lot of development work. In round figures, present monthly shipments from these companies are of this order: Monthly Company Rate of Shipments Luzon Stevedoring Company..... 1300 Amalgamated Minerals......... 1200 Compania Minera de Filipinas... 1500 Fernandez Hermanos........... 800 Union Manganese.............. 150 Philippine Iron................ 100 Total.................... 5050 About 1,200 men are employed at C o r o n Harbor, Busuanga Island. largely of various sediments and development tunnels are driven with hand steel and picks. Much of the work is contracted. Miners' wages average P1.50 per day base rate; other labor is paid P1 with a bonus. There have been no labor troubles. At present the largest individual producer is the Borac property. Two mines are being worked, each on a substantial scale, on the east and west sides, about 2 kilometers apart. The ore is high grade, and is taken by trucks to the storage bins 4 kilometers distant at tide water where the company has probably the best equipment for loading on the island. 1,100 siderable promise of good grade ore. William DeCarbonel is general superintendent. Amalgamated Minerals has been working the Demaniang mine for several years, recovering about 500-600 tons monthly of high grade ore. It has lately acquired the San Nicolas property near the barrio of the same name, where development is proceeding on the Pina Nos. 1 and 2, and the Balabitan orebodies, from which shipments are being made from prominent exposures. Samuel Leitman is the consulting engineer. Fernandez Hermanos have a large [Continued on page 24] PENNY SAVED IS PENNY EARNED! Be Oil Wise... Use PENNZOIL! "A penny saved is a penny earned"... so goes the old saying, and you motorists can save plenty of pennies and even pesos with Pennzoil in your car. With all non-lubricating elements completely removed by a special process, Pennzoil is all oil... all perfect, safe lubrication. Distributed by MARSMAN TRADING CORPORATION Port Area, Manila Tel. 2-48-11 I 16 The American Chamber of Commerce Journal July, 1941 (

I i II i i II I I Orphans Of The Pacific A mining man looks through Florence Horn's recent survey of the Philippines and finds some footnotes to append thereto. ______-________________- By W. F. Boericke* In her thoroughly readable book Orphans of the Pacific (Philippine Education Co., Manila, P7.70) Florence Horn has evidently endeavored to take a realistic view of the Philippines, and is quite disregardful of whose toes she treads upon in her caustic and not always accurate debunking of some rather fondly held beliefs. What she has to say regarding the Filipinos, the Americans who are here, the political and sociological *Mr. Boericke is the valuation engineer of the Bureau of Mines, Commonwealth of the Philippines, and held a similar position during 4 years with SEC at Washington. His by-line over mining news has long been a landmark in the financial pages of the New York Herald-Tribune. He also contributes to the professional reviews.-Ed. character of the country, may be acrimoniously disputed. Certainly Miss Horn, by plain speaking and unequivocal phrase, has asked for it. In any book that endeavors to cover a subject as broad as that of Miss Horn's, it is essential to keep a sense of balance. It is not to be expected that one who has spent at the outside but a few brief months in the Philippines should be always accurate in detail, but if the book is to have any permanent value it must give fair weight. It is misleading to devote an undue amount of space to the primitive life and customs of the Bontok natives, and to omit even casual mention of the colleges and universities of Manila. It makes for a more lurid narrative, but it conveys to a reader who knows little or nothing of the Philippines a biased impression of the people. Just as well a foreign observer might devote major mention to the hill-billies of the Tennessee mountains as typical of the United States. The mining man finishes reading Miss Horn's book with a feeling of irritation. Miss Horn knows, or should know, perfectly well that the mining industry is the Commonwealth's second most important business, and that it may soon become paramount as a wealth producer. She devotes one chapter to the subject, entitled Iron and Gold. The inversion is interesting, it leads one to the inference that the author more or less consciously subscribes to the opinion that gold is of slender economic importance. Not a word is said of the amazing march of the Philippines to a position among the first half-dozen gold4producing countries of the world. Instead, it is said flatly that not a single producing gold mine today is the result of modern discovery, but all were previously known to the Spanish or the Chnese and have been built on the ruins of old workings. The implication is, of course, that outside prospecting has been desultory and discouraging. This is not ENGINEERING EQUIPMENT AND (INCORPORATED) SUPPLY CO. Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal Office Tel. 2-41-41 DEALERS IN: DUPLEX AND TRIPLEX PUMPS SHOVELS, BUCKETS, CRANES MINE WOOD TANKS STEEL TANKS AGITATORS, THICKENERS ROCK DRILLS PRECIPITATION EQUIPMENT MERRILLITE ZINC DUST PUNCHES, SHEARS WOODWORKING MACHINES ROTARY FILTERS MARINE DIESELS EXPLOSIVES POWER BOATS OUTBOARD MOTORS WELDING RODS MELTING & TILTING FURNACES HACKSAW MACHINES TROLLEYS DIESEL LOCOMOTIVES DRILLING MACHINES CONVEYORS RECORDING INSTRUMENTS ELECTRIC TOOLS ELECTRIC MOTORS BALL MILLS CONTOUR STEEL CUTTING MACHINES AIR CONDITIONING EQUIPT. MECHANICAL PACKING LEATHER BELTING VEE-BELTS BRONZE BUSHINGS CARBIDE LAMPS PNEUMATIC TOOLS TUBULAR BOILERS ALLUMINIUM CASTINGS SURVEYING EQUIPMENT LOGGING EQUIPMENT MINE HOISTS STATIONARY DIESELS BLASTING SUPPLIES PROPELLERS ROAD ROLLERS WELDING EQUIPMENT WATER, OIL & GAS METERS VALVES OF ALL KINDS SHAPERS, LATHES BELT HOOKS MAGNETIC SEPARATORS SAWS, SAWTEETH THERMOMETERS GRINDERS GENERATORS OIL BURNER EQUIPMENT CABLE CLIPS REFRIGERATION EQUIPT. ELECTRIC WELDERS TRUCK AND MINE SCALES CENTRIFUGAL PUMPS CONCENTRATING TABLES FLOTATION CELLS MINERAL JIGS VACUUM PUMPS FIRE FIGHTING EQUIPMENT BLOWERS, DRILL PRESS COM PRESSORS CIRCULAR SAWMILLS PILE HAMMERS GASOLINE ENGINES NAUTICAL INSTRUMENTS STUFFING BOXES TURBINE PUMPS ELECTRIC HOISTS SHEET METAL TOOLS BABBITT METALS DRILL STEEL CHAINS, WINCHES CRUSHERS, SCREENS MINING PICKS MINING SHOVELS CONCRETE VIBRATORS ELECTRICAL APPARATUS DREDGES OF ALL KINDS LOGGING BLOCKS CONCRETE MACHINERY HOISTS FOR DUMP BODIES I_- The American Chamber of Commer.e Journal July, 1941 17

cording to Miss Horn is insignific.:':;,!::.:" ',,:. -.4 ant. Well now, 22 million pounds of %'.7" copper annually is indeed insigni4~. ~ ficant compared to the output of Ari-,.,. ',~.::zona and Utah, but it looms large in:!.. ti, and' the copper production of the Far _"we '.......,'.'",':-?!i' ' -~" '" East and is deemed significant,.....,,': enough to warrant special measures " ':i "' under the Export Control legislation to preclude its falling into unfriendly hands. Miss Horn also asserts i that the copper ore is of low grade. On the contrary, the leading copper producer in the Philippines is currently mining better than 4 per cent copper ore, which is about 3 times as,i.p' -' "p~J/ll~J'!'~': '.' ~"...~ '!!JJ~['-'..-;~/-,,,,,,~~...~'.~:,.,. high in copper content as the averUnconscious Grace in Productive Work, a scene not depicted in Orphans of the Pacific. age copper ore mined in the United States. di smi ssi ~i;'Regarding manganese in the Philippines, the author says that it is,-:. i ~ still more of a hope than a reality, ~-~:'~i~~!and that production is still picayune. But last year the Philippines produced and exported about 50,000 tons gu' Someon ougof manganese, and in 1941 the production may well be doubled. Even.5** 'the 1940 figure is nearly twice the?'"'~%h~....::output in all America. These facts warrant more than deprecatory com-::`3~. '~'~~ ment..F;~.' i" —%;~ ~~~I~~~For chromite in the Philippines Miss Horn has kinder words. She A says that deposits of this mineral, %4 'more than any other, may reasonably cause the United States to re~~~~~L-V~~:9:~~~~ IO gret the loss of the Philippines. This may be true. It is unfortunate that she is not more accurate in her speFrm Engineering & Mining Journal cific references to the chromite dein accord with the facts and overlooks such notable new producers as Batong Buhay, for instance, and Davao Gold. Such statements as Miss Horn T makes concerning the mining industry are replete with half-truths and errors. It is said that the Philippines have not as yet made a very Reners and Marketers impressive mineral record. The rise Reiners nd M rketers in gold production here to a figure that approximates 25% of the entire of gold output of continental United States hardly merits such cavalier dismissal. It is asserted too that Flying -A~ Gasoline Cebu coal is of so poor a quality that it is not worth digging out of the Tdol and Veedol Motor Oils ground. Someone ought to inform the Cebu coal miners who have been taking 10,000 tons a month out of Mabuhay Kerosene these mines and placing it on the docks where coastal steamships. eagerly snatch it up, that they have Avo Diesel Fuel Oil been fooling themselves and fleecing the steamships. Philippine copper production, ac- -_ 18 The Americon Chamber of Commerce Journal 10 July, 194I (

posits. She asserts that the Philippines possesses the largest known body of chromite ore in the world. It would have been wise to have noted that this ore, the Masinlok deposit, has heretofore been found suitable only for refractory, not metallurgical, purposes, for which the demand is much more limited. She refers to another "limited deposit" of 150,000 tons which is shipping 20,000 tons per year. This "limited deposit" is now constructing a 1000-ton mill, and its shipments thus far this year are of an impressive order. Comments on the gold-mining industry of the Commonwealth in Miss Horn's book are often misleading. Oddly enough, her estimate of the value of the 1940 production is considerably too high-it was actually $40,000,000, and not $45,000,000 as Miss Horn asserts. She sums up the gold-mining situation as being controlled by the 3 big companies: Benguet Consolidated, Marsman & Co., and the Soriano interests, and adds contemptuously, "There are several little gold companies struggling along outside of this." These "several little companies" include such prosperous mines as Mindanao Mother Lode, Treasure Island, Paracale Gumaus, Baguio Gold, Surigao Consolidated, East Mindanao, and many others, that together contribute more than 25% of the gold production of the Philippines and substantial amounts in dividends. It is highly likely that their ratio will increase in the future. Miss Horn's opinion of the mine executives does not appear to be over-flattering. Mining engineers may be found around the bars of Baguio, according to Miss Horn, but if they are occasionally sweating in the shafts underground, or bringing in machinery over impassably steep mountain trails, or making good miners out of G-string natives, she forgets to mention it. She quotes with evident approval the remark of a well-known mine executive, head of 2,000 men, that "in the States I would be lucky to have a job as a truck driver." Men who can direct a mining operation of 700,000 tons a year are not yet a drug on the market, despite any over-modest selfdeprecation, as Miss Horn should have realized during this interview. The illustrations that appear at the end of the book are done in the manner that is approved by tabloid photographers. They have human interest, undoubtedly, in the same way that an angle shot of cheese cake in Hollywood engages the eye, but in the main they are grotesque caricatures of Philippine life. The only illustration among them all that might remotely suggest that the Philippines possess a mineral industry is a picture of some saltbeds near Manila, which is quite appropriate for the slighting treatment that the author gives the mining business of the Islands. I Bulldinrg a ~ teit dtill U one tingMaking it so that it will stand up is another That's why Ingersoll-Rand pistons pass through 48 operations in their manufacture PIECE by piece the parts of a rock drill look simple and easy to make-but looks are deceiving. No other machine has to withstand the abuse of modern drills. Consider the piston of the DA-35 drifter; one end operates at a freezing temperature, the other, frequently at 250~ F. It must deliver heavy blows at the rate of about 2000 per minute (depending on conditions)-millions of these impacts during its lifetime. It receives 48 separate machining, testing and heat treating operations and is actually being worked on 55 hours in the course of its manufacture. x During the last thirty years there has been a tenfold increase in drilling speed-the life span of parts has been lengtheneddependability has grown progressively greater-upkeep costs have steadily decreased. Credit for this great improvement is due in a large measure to Ingersoll-Rand research and development. THE "DA" DRIFTER FAMILY REASONS WHY THE DA-35 PISTON STANDS-UP O Metallurgical specifications for each piston incorporate 60 years of accumulated experience. KLEIN Electrician's Pliers and Linemen's Equipment REPRESENTING THE HIGHEST STANDARD IN THE FIELD E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 I Standard Overall Weight (Ibs.) Shc'l cLength, Ins. (Complete) DA-30 24" Feed 49-7/8 125 (Hand-Cranked) Solid Guides DA-30 2-1" Feed (Auto-Feed) Solid Guides 10 DA-35 24" Feed (Hand-Cranked) Solid Guides 156 DA-35 24" Feed (Auto-Feed) Solid Guides 53-3/ 191 0 No steel for any other purpose whatever, is selected as carefully as the material that goes in rock drill pistons. Composition is controlled with unbelievable accuracy. Each batch must pass a physical inspection, chemical analysis and an elaborate hardenability test before it leaves the mill. Proper heat-treating is a highly technical operation. The handling of this step in the manufacture of I-R drills is entrusted only to specially trained metallurgists. 0 A correct design, highly skilled craftsmen and a thoroughly modern plant and equipment insure a superior product. Sizes are held to one-half of one-thousandth of an inch (.0005") variation. Every finished piston is tested in a specially developed magnetic testing machine, which gives what we call "a mechanical X-ray", * indicating the depth of hardness and the most minute variations from specified standards. Each lot of finished pistons is also given an actual running test on Barre granite. 0~~~~~ Trh American Chamber of Commerce Journal July, 1941 19

The Stock Markets By Ovejero & Hall Lepanto Masbate Conso. Mindanao Mo. Lode Surigao Conso. United Paracale 17-1/2 8-1/2 22-1/2 18 16 17-1/2 9 31-1/2 21 15-1/2 Unch. + 1/2 + 9 1/23 - 1/2 MANILA-June 14th The market continues to be influenced mainly by domestic considerations. The remarkable progress of Mindanao Mother Lode, second quarter dividend declarations and the sound technical situation of the market have combined to stimulate demand for well situated equities. In consequence, a fairly wide spread improvement in values has occurred with a considerable increase in activity. The following are today's closing quotations as compared with a month ago on the more active issues. Acoje Atok Gold Benguet Conso. Itogon I X L May 15th 13-1/2c 27 3.00 18-1/2 22 June 14th 16c 32 3.10 17-1/2 22 Change +2-1/2 +5 +10 -1 Unch. Total number of shares traded from May 16 to June 14 inclusive amounted to 27,946,707 shares valued at P2,102,530 compared with 8,330,536 shares valued at P1,152,. 020 the previous month. While war developments are likely from time to time to cause recessions, in our opinion, provided there is no outbreak of hostilities between the U. S. and Japan, these are likely to prove only temporary, and we look for a steady to firm price trend over the near future. In arriving at this conclusion, we are not unmindful of the fact that no basis exists for aggressive general demand at this time. On the other hand, bearing in mind the healthy technical condition of the market and low price to earnings ratio, there does not exist any impressive case for increased liquidity. II I,~~~~~~~M- I- I —~ Ir GEARMOTORS This Allis-Chalmers Gearmotor is a compact, self-contained speed reducer that provides low speed drives without sacrificing the inherent advantages of the separate motor and speed reducer construction such as ease of maintenance, replacement of individual units, adaptability to change-motors, ratios, etc. Standard speeds at the power take-off range from 6.08 r.p.m. to 1458 r.p.m. THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area, Manila, Philippines J After moving in an extremely narrow range during the last half of May, Stock prices have registered a moderate improvement during the past two weeks. Market fluctuations as registered by the Dow Jones Industrial and Rail Averages have been as follows: May 15 High Low June 14 Change Industrials 115.73 122.98 115.73 122.04 +6.31 R a i l s 27.77 28.40 27.43 28.31 +.54 As in recent months, activity has continued restricted, in fact, not since the last day of 1940 has the volume of trading in a session exceeded one million shares. The improvement has not stemmed from any single occurrence, but rather from a combination of factors. The declaration of an unlimited emergency by the President in his recent fireside chat had no effect market-wise, neither did the latterly less favorable foreign situation. The market's apparent immunity to unfavorable developments undoubtedly provided the basis for the more constructive attitude displayed towards reported Congressional opposition to the Treasury's excess profits tax propsals. The firmer government attitude towards labor has also been well received. Of great importance is the growing attention being paid to the inflationary implications of the general [Continued on page 24] The American Chamber of Commerce Journal July, 1941 NEW YORK-June 14th P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu 20 -l * (

W. F. Boericke and S. Leitman, general superintendent of Amalgamated Minerals, made an inspection trip to the Bani Manganese mine in Camarines Sur recently. * * * George H. M.ller, who has been in charge of development work at the Uling coal mine in Cebu for a year, has returned to Manila. * * * J. H. Marsman, president of Marsman & Co., left Manila for the United States on the clipper a few weeks ago. * * * James Hopkins has resigned as super[Continued on page 24] T. W. Weeks, president of Batong Buhay mine, visited the mining property near Latawan, Mountain Province, early in June. * * * Wendell Fertig, superintendent of the Samar Iron mine of the Elizalde group, has been called to the United States Army as a reserve officer back on active duty. * * * L. Wright has returned to Manila after several months prospecting properties in the southern islands. * * * George Kemmerer, who has been supervising coal-mining developments for the National Development Company, left Manila for the United States June 13. * * * W. F. Boericke and N. N. Lilm of the Bureau of Mines spent 2 weeks on Busuanga Island on valuation work of manganese properties there. * * * Garret Morris, superintendent of the Minnick mine in the Abra district, has been in Manila for a few days recently, accompanied by Mrs. Morris. * * * P. Ordun, associated with John Cushing in developing a small producing gold mine in Abra, has been in Manila recently. * * * G. A. Parsons, in addition to his mercantile interests, has a producing manganese mine in Busuanga, and inspected progress at his property in June accompanied by A. J. Stenger, who undertakes construction work there. * * * G. Whitehead, consulting geologist for Philippine Iron Mines, spent some weeks in Busuanga in June, where his company is among several there developing manganese properties. J. Brien is general superintendent of operations in that field for the same company. * * * R. Marsden and S. Gamatero, geologists of the Bureau of Mines, were engaged in professional work in Busuanga most of ti'e past month, inspecting the Amalgamated, Boroc, Philippine-Nippon, and other properties. V. A. Kraponky, formerly with MasV. A. Krapionitsky, formerly with Mas bate Goldfields, is now mine superintendent for manganese operations in Busuanga for the Luzon Stevedoring Company. * * * A FULL LINE of INTERNATIONAL TRACTRACTORS The International Harvester line of smartly styled crawler tractors consists of four Diesel TracTracTors-the TD-6, TD-9, TD-14, TD-18, and the distillate powered T-6. Low fuel cost, rugged construction, simplified positive starting, dependable performance, ease of operation, and ready adaptability to many jobs with a wide range of speeds, increase the popularity of TracTracTors where crawler tractors can be used to advantage. Ask for complete information. 1R INTERNATIONAL HARVESTER COMPANY OF PHILIPPINES MANILA CEBU BAGUIO BACOLOD DAVAO LEGASPI I 'hte American Chamber of Commerce Journal ~ l~l, 1941 21

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940, complete and for the first 5 months of 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. BALATOC BENGUET CONSOLIDATED SAN MAURICIO MASBATE IXL MINING CO. NORTH CAMARINES BAGUIO GOLD BIG WEDGE, ITOGON UNITED PARACALE LIE zr

I SUYOG COCO GROVE DEMONSTRATION 2o- / a Ac~ Ir --------- MINE OPERATIONS CAPSAY PARACALE GUMAUS IiI7. —\.1f.~ ZoO 0e 30" The Mining Industry-Tabulated Statistics Courtesy-Chamber of Mines of the Philippines APRIL 1941 MAY 1941 TOTAL PRODUCTION CPITAL DIVIDEND _MINES Tonnage Value Average Tonnage Value Average To Date 5 Mo. 1941, uthorized Paid Up 1941 1940 Antamok Goldfields 19,586 P 213.009.54 F10.88 19,556 P 208,576.64 P10.66 P1,064,004.36 P 971,041.66 P 3,000,000 P 2,750,000 - - Antipolo 515 18,191.50 35.32 771 27,164.25 35.23 141,043.74 -1,000,000 417,192 - - Baguio Gold 12,555 196,655.46 15.66 12,895 201,685.78 15.64 976,433.48 931,845.28 2,000,000 1,299,950.02 Balatoc 65,372 1,091,926.62 16.70 67,600 1,172,496.20 17.34 5,704,496.64 5,426,308.08 6,000,000 6,000,600.4 - Batong Buhay 4,509 154.166.45 34.19 4,461 158,325.22 35.49 730,564.53 2,000,000 1,661,703 - - Benguet Consolidated 39.739 932,900.58 23.48 41,062 927,965.26 22.59 4,482,148.78 4,551,073.88 12,000,000 12,000,000.30 - Benguet Goldfields 1,196 16,212.00 13.56 1,536 22,258.00 14.48 143,382.23 266,798.33 200,000 200,000 -.005 Big Wedge 4,893 197,729.38 40.41 4,865 238,554 60 49.03 989,550.54 802,042.96 2,000,000 777,692.02 Cal Horr 7,633 104,957.22 13.75 7,975 123,666.07 15.51 604,770.81 538,216.66 Owned by Benguet Cons. - - Capsay 5,261 64,700.78 12.30 6,332 68,089.78 10.75 304.859 92 361,626.18 300,000 175,000 - - Crown Mines 655 8,756.00 13.37 729 9,277.00 12.72 29,010.51 56,809.25 1,000,000 636,000 - Davao Gold 3,934; 96,231.00 24.45 - - - 80,000 80,000 - - Demonstration 5,414 74,074.00 13.68 5,225 73,532.00 14.07 358,681.98 225,974.70 1,000,000 1,000,000 - - East Mindanao — 6,038 91,777 41 15.19 449,441.14 282,406.57 1,000,000 1,000,000 -- A.A.^. r _.... - - - - - - - - Gold Creek Ipo Gold Itogon 856 23,443.00 5,245 44.515.84 26,748 516,890.75 27.39 1,018 24,279 35 23.85 83,716.93 1,000,000 700,000 - 8.49 5,044 44,966.26 8.91 232,708.61 379,239.41 1,000,000 819,794 19.32 28,962 505,859.25 17.46 2,375,736.73 2,121,343.36 2,500,000 2,500,000.02 I. X. L. 11,680 248.324.34 21.26 13,508 247,840.56 18.35 1,245,702.36 1,272,005.00 1,500,000 1,500,000.02 Masbate Consolidated 70,956 475,366.96 6.70 113,929 572,147.22 5.02 1,714.639 68 2,575,902.66 5,000,000 5,000,000.01 Masbate Goldfields (Aldecoa) 172 1,731.18 10.07 170 3,269.40 19.05 7,605.28- 500,000 164,080 - - Mayon Mining 1,731 30.387.54 17.52 1,769 30,856 15 17.44 150,848.21 100,000 100,000 - Mindanao Mother Lode 6,782 319,141.66 47.06 7,446 563,947.00 75.73 1,533,335.02 2,000,000 2,000,000.01 - Mineral Resources 3,637 38,617.94 10.62 3,109 37,180.69 11.95 241,804.43 127,474.50 2,000,000 1,351,920 - - North Camarines 3,122 88,376.86 28.31 3.204 71,825.95 22.42 406.010 20 925,081.25 1,000,000 995,802 - - Northern Mining 1,407 47,631.09 33.85 2,333 57,115.61 24.48 276,224.29 258,798.76 1,000,000 840,041 - Paracale Gumaus 6,378 161.625.94 25.34 6,654 164,427.00 24.71 827,029 90 651,493.52 500,000 500,000.04 - Paracale National 1,083 17,274 62 15.95 1,004 17,402.15 17.33 95.809.71 102,148.11 1,000,000 959,165 - - San Mauricio 16.762 442,449.83 26.40 16,677 448,751.28 26.96 2,215,584.60 2,631,732.91 2,000,000 2,000,000.0156 Santa Rosa 5.353 120,060.21 22.43 6,027 132,126.22 21.92 541,838.59 315,913.51 1,500.000 1,500,000 - Surigao Consolidated 10.567 212.386.00 20.10 12.120 247,500 00 20.25 1.158.309.00 765,953.08 1,200,000 1,023,400.02 Suyoc Consolidated 7,387 185.641.20 25.13 7,870 187,781.16 23.61 916,643.31 810,373.82 1,250,000 1,250,000.01 Treasure Island 7,454 185,055.40 24.83 7,715 188,577.00 24.44 1,060,809.64 418,810.46 2,500 shares 66,940 - - United Paracale 11,067 293.973.89 26.56 11.025 291,046.82 26.39 1,451,379 32 1,291,466.42 1,300,000 1,300,000.02 PLACER Coco Grove 312.425 145.722.95 0.47 323.080 143,220.06 0.44 682,996.13 526,634.05 1,500,000 1,500,000.01 Tambis 37,550 10,425 00 0.28 31,936 14.007.00 0.44 80,254.60 400,000 390,643 - BASE METAL Lepanto 12,045 256.955.20 21.33 13,520 283,222.89 20.93 1,307,242.09 934,668.45 1,750,000 1,050,000.01 Hlxbar 4,544.6 159,556.46 35.10 3.496 122,235.44 34.96 698,723.30 242,810.79 600,000 274,360.03 Consolidated Mines 7,000 84,000.00 12.00 12,500 150,000.00 13.60 663,600.00 5,000,000 4,121,246 - - Mndaon - 1,122 31,022.74 27.64 109.852.20_ _ Valuable Report Out luation division. The circular comprises by the operating officials of all the 42 pages of text and 36 illustrations. It mines. Detailed stoping costs for several Information Circular No. 4 was recent- presents a comprehensive report on suc- of the mines and to the paper's value in ]Y issued by the Bureau of Mines, titled cessful stoping methods that have been the profession. StopiVg Methods and Costs in the Baguio evolved through long experience in the G(,ld Mines. The authors are W. F. Boe- Baguio field. Cooperation in preparing This circular may be had free on request rieke and N. N. Lim, of the bureau's va- and assembling the data was freely given at the Bureau of Mines, Manila. 'he, American Chamber of Commerce Journal 23 lil?, 1941

Busuanga Island -Leading... Continued from page 16 group of claims near Demaniang and some good ore has been shipped. A new property, Bayuyan, on the far northwest side of the island, is said to have very satisfactory prospects, and suggests that the manganese deposits of the island may extend much further than the present known area. The future for manganese mining in Busuanga appears to be promising. There is little question that at the present FOB price for the ore a satisfactory profit remains for the pro ducer, though it should be pointed out that operating costs have risen substantially over those prevailing a year ago. Higher prices for supplies and increased wages are the main factors, though the necessity for underground instead of surface work may also be mentioned. On the other hand, transportation difficulties have lessened, labor efficiency has improved, and most important, a better knowledge has been gained of the geology and characteristics of the manganese deposits, which has been aided in no small degree by the excellent work of the Bureau of Mines geologists. While it appears probable that the present price for manganese will be maintained for some little time, it would be over-optimistic to assert that lower levels will not be found with the return of normal conditions. However, Busuanga operators were able to mine at a profit under usual conditions prior to the war in a world competitive market, and with the impetus gained during the present time, it is likely that they can retain their share of business over the future. Busuanga ores, as has been pointed out, are uniformly of better grade than most manganese encountered elsewhere, not only in the Philippines, but in Russia, India, Rhodesia, or Cuba. I The Stock Markets I ASEA MOTORS, GENERATORS AND TRANSFORMERS II II price structure, and this may well provide the most potent market factor. In this connection, much depends upon the government attitude. By means of price ceilings and taxation, to say nothing of labor demands, profits can be squeezed most effectively. On the other hand, the general price level is rising, and a continuation of this trend will mean an inevitable fall in the purchasing power of the currency unit. This, therefore, is possibly the most important problem currently facing investors, both large and small, and can exert a marked influence on prices. Movements of Mining... Continued from page 20 I Continued from page 21 AVAILABLE FOR IN DELIVERY FROM 1MEDIATE STOCK 0 Sole Agents KOPPEL (PHILIPPINES) INCORPORATED intendent of the Siquijor Manganese property and has returned from the Islands to the United States. * * * P. K. Strong, formerly in charge of the safety work in the Paracale field, is now mine superintendent of the Uling coal mine in Cebu. * * * Landt Holtz, who has been engaged in manganese mining in Busuanga, has returned to Germany via Japan and Siberia. * * * Dr. H. Foster Bain, adviser on mines to the Philippine government, left Manila by clipper June 13 for the United States, called there by Secretary Harold Ickf's (Interior portfolio) to engage in important war work for the government. D;. Bain, it is understood, will be absent froiit the Philippines several months. but plains to get back to Manila late his year. ILOILO MANILA CEBU 24 The American Chamber of Commlerce Journtl July. 194!

E ~LF~LA and United States: i N.0 per yen Foreign Subscription. $3.00 U. S. Currency, per Subscripton Single Copies: 35 centcaos WALTER ROBB Editor end Manager Entered as Second Class Matter May 25., 1921, at the Post Office at 1Marila, P. i. Just Little Things Joe Morris, whom we must have met somewhere along our way in newspaper work, sends along an autographed copy of TWA's latest bit of advertising, Broader Wings Now Span the Nation. The new planes talked about in the booklet, strikingly streamlined, are 4-engined Boeing stratoliners that fly high and fast and are sisters to the planes with the same chop on them, Boeing, that Pan American flies over seas most everywhere nowadays-our own Manila now being a rather remarkable air station with Dutch planes coming in frequently to Nielson Airport and Pan American's service extended to Singapore from Cavite. Timely cooperation in such things just at this juncture of events is going to do the Philippines no end of good. * * * Manuela came to the office some days ago. We would help Manuela, if we could; she is 22 years old and wins the bread for 12 persons wholly dependent on her, including her mother, who has asthma but manages to do the washing, and her father, who is blind, and 4 orphans, the old est 11 years old, who were children of a cousin. Manuela is a Tagalog girl, and wants no charity; she is a highschool graduate, fortunately still in good health, and what she wants is a job at which she can work honestly. It was hard to get her to accept 2 pesos, even for the orphans. We saved her the insult of recommending her to the Associated Charities, she still has her chin up, she is determined to win through in the old Tagalog way. We're all for that. Doesn't someone need a salesgirl? Does no one need a faithful educated nursegirl? Can't we, all together, find Manuela employment at wages of at least P20 a month?, * * * A shindig came off at the Chamber of Commerce Friday evening, June 20, that was all but impromptu and altogether a howling success. The occasion was the showing of W. G. Hahn's kodachrome travelogue on the Sulu Cruise of the ships of the Everett Steamship Company, a remarkable movie study of the southern Philippines, about 45 minutes long. Projection was by Kodak Philippines, with KZRH sound effects. Followed a buffet supper for the 135 guests, 50 ladies among them. Then the singing, the community singing, led by some of the most lusty voices on the Escolta! At the old mill-stream, grayheads of Manila business waited for the village queen, taking her later to Moonlight Bay where the darkies were singing. There they and Nellie waited for the sunshine, waited till the clouds rolled by; and at parting. Nellie grew sentimental about her Honey Boy, said she hated to see him leaving for the wars, but would be waiting... waiting his return, though there's a long, long trail a-winding into the land of a girl's dreams when men go off to war, and Irish Eyes (and eyes of every sort) must keep smiling through. When you wore a tulip, will you not remember that one, boys whom Oliver Wendell Holmes might celebrate in one of his annual class getups in sentiment? The gentle blossom was worn innocently in the evening by the moonlight, as things happened that night with the pilsen foamy in the steins and the chicken brown on the platters. What smiles! They sang all about the smiles... the smiles PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SURETY COMPANY OF THE PHILIPPINE ISLANDS executes and covers A BONDS Court, Customs, Firearm, etc. Plaza Goiti and Escolta INSURANCE Fire, Life, Marine, etc. P. O. Box 150 Tel. 2-12-55 'The' American Chamber of Commerce Journal "',ly, 1941 25

that you gave to me. For such reward, Carry Me Back to 01' Virginny! Weep no More, though gone are the days when the heart was young and gay, when Lindy, Lindy sweet as the sugar cane made the heart pine. But men must work, and women must weep, though the harbor bar be moaning; and men will go away over wide oceans and seek the adventure of commerce overseas, and imagine roles like Chief Panjandrum for themselves, and snuggle into close, though not altogether modulated harmony, and chime out, I've Got Rings on My Fingers! because a good ledger amounts, in a way, to that. Remember General History and the footnote verses below the page telling about Balaklava, the charge of the Light Brigade, by "brave hearts from Severn and from Clyde and from the banks of Shannon?" What beauty in Irish place names! Where the River Shannon Flows, they sang it, and followed it with The Rose. But Nellie's gone, and the others with her: Mother never lets them stay late in mixed company where the bowl flows freely. Sweet Adeline alone sees out the party, with My Pony Boy. But the party ends. Everyone sings God Bless America and Domingo and his gang and Lee and his gang shuffle around to put out the lights while the elevators go gu-ur-ur-ur-ur taking folk away to the street, where little of the make-believe follows them. It is all upstairs with the shadows. * * * In the field of salt Mahomet has gone to the mountain, which is to say that the Philippines are lately exporting quantities of salt to China. Though it must have been from the Chinese that Filipinos learned the craft of evaporating seawater to procure salt, war in China has caused Hongkong to want millions of kilograms of salt, and to get it from Manila. The season for making salt from seawater has just closed in the Philippines; it was a favorable season, what with May's record heat and no rain till June; but now the rains of June have come, the saltbeds will soon be fishponds because half the year they serve for salt and the other half for fish. Salt is rising in price, saltmakers are holding for the rise; there will be no further supply till about Christmas, at least, and the Hongkong demand will probably grow rather than decline. Manila exported nearly 5 million kilograms of salt to Hongkong in the first 4 months of this year, but more than 4 million kilograms during April alone; from this we guess that to the end of June, exports to Hongkong will have topped 8 million kilograms. When this was written, June 12, grocers were selling salt at P1.40 a sack of 50 kilograms, 110 pounds, about 1-27/100 centavos a pound, or 2-8/10 centavos a kilogram. They were retailing it at 7 centavos a kilogram. Such salt prices are the envy of the East, where there is usually a thumping tax on salt and a debt secured by the salt revenue. In the Philippines the people's salt is not specially taxed because the Islands are under the United States, 1where a salt tax is abhorrent to public morals. China's salt administration is in international hands with the revenue pledged for debts. There must now be considerable Japanese control of this arrangement, which may be one explanation of why Hongkong, British, gets salt from Manila, and the report is that Chinese cities also get this salt. Many Chinese canning enterprises have taken refuge at Hongkong since the Japanese invasions, and some of these require much salt. Report is that saltworks along the China coast have been widely destroyed, creating the scarcity, which munitions-making accentuates. Salt production in the Philippines varies greatly, according to the number of days of wind and bright sunlight during the annual dry season from Nov PHILIPPINE REFINING COMPANY, INC. MANILA CEBU Producers of Coconut Oil, Copra Cake and Copra Meal AlI I ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA AL HEAMBRA I THE SEAL OF QUALITY We Solicit Direct Shipments of Copra Manufacturers of SAMPAGUITA SHORTENING CHAMPACA MARGARINE CAMIA EDIBLE OIL 1035 ISAAC PERAL - TEL. 5-69-51 - MANILA c 26 The Amnerican Chamber of Commerce Journal July?, 19i1

ember to May. Sometimes it is as low as 23 million kilograms for a year, and again as high as 54 million kilograms. The season 1940-1941 will have yielded a large production, but months must pass before exact figures are known. In any case, saltbeds are a first rate Philippine investment, especially around Manila bay where, during the rains, they yield a crop of marketable fish. Some peasants make the salt, others grow the fish, remuneration in both cases being a share of the product. * * * The interislander Ki au that grounded on a sunken hull off the mouth of the Pasig a few weeks ago, and later burned, a total loss, was quite venerable. We found her built in America in 1883; she belonged to the Philippine Navigation Company and was an iron ship of 879.17 gross tons. These facts started us to looking up all the interislanders that date in the 1880's. With the Kinau they number 20. It is inevitable, of course, that in the coastal service of an archipelago there will always be a number of old ships. We wager this is true even of England, mother of ships. The Manila SS Company's Churruca, steel, built in 1878, 788.33 gross tons, is the oldest ship we find under Philippine registry. Ramon Aboitiz's Bolinao was built in 1884. The Cia. de Filipinas, of the Tabacalera, was built in 1890. Gutierrez Hermanos' Dos Hermanos is an iron ship built in 1882. P. V. Liao Carpo's Isabela, registered at Cebu, is a wooden ship built in 1893, of only 179.98 gross tons. Companiia Maritima's Islas Filipinas is an iron ship built in 1886. Elizalde & Co.'s Lanao (formerly the Hai Ning) is a steel ship built in America in 1896. Compania Maritima's Mactan (formerly the Hai Hong) was built in 1899. Gutierrez Hermanos' Montanes (formerly the Sorsogon) was built in 1880. Jose Tan Unchuan's Pelayo, 149.9 gross tons, registered at Cebu, was built in 1897. Compaiia Maritima's Romblon was built in 1889. Their Samal (formerly the Pompey) was built in 1897. Cebu Navigation Co.'s R. Melliza, 184.06 gross tons, registered at Cebu, was built in 1889, a wooden ship. Carmen Sy's San Francisco (formerly the Isla de Mindanao) was built in 1885, another wooden ship, of only 95.29 gross tons. Pastranco's Tangob (formerly the T. Lizarraga), registered at Cebu, 123.83 gross tons, a wooden ship, was built in 1893. Rio y Olabarrieta's Ventura, 129.55 gross tons, a wooden ship, was built in 1884. Elizalde & Co.'s Venus is a steel ship built in 1883. Madrigal & Co.'s Vizcaya is a steel ship built in 1890. The tonnage of the larger ships familiarly known has not been stated. The registry embraces 156 vessels, of which, a first rate showing in the circumstances, 132 have been built since 1900. In 1890 the Kinau plied in the coastal waters of Hawaii and Henry Adams and John La Farge, historian and painter respectively, journeyed on her in their leisurely search for Robert Louis Stevenson at Samoa, where they found themselves the first Americans who had gone there with no other purpose than to see the place. And now that we have seen this ship in its infancy, and witnessed its cumbrous demise in the fairway at the mouth of the Pasig, will we not join Adams and La Farge in meeting Treasure Island's author? "We mounted some gawky horses," writes Adams to Elizabeth Cameron, "and rode up the hills about an hour on the native road or path which leads across the island.... At last we came out on a clearing dotted with burned stumps exactly like a clearing in our backwoods. In the middle stood a two-story Irish shanty with steps outside to the upper floor, and a galvanized iron roof. A pervasive atmosphere of dirt seemed to hang around it, and the squalor like a railroad navvy's board hut. As we reached the steps a figure came out that I cannot do justice to. Imagine a man so thin and emaciated that he looked like a bundle of sticks in a bag, with a head and eyes morbidly intelligent and restless. He was costumed in dirty striped cotton pyjamas, the baggy legs tucked into coarse knit woolen stockings, one of which was bright brown in color, the other a I ^IffZ- YOUR;/^ ADVERTISING PESO.....-.' — ---- TO REACH THE VAST FIELD OPENED BY INSIDE ADVERTISING tt M E RALCO STRE ET CARS BUSES 4,500,000 PASSENGERS MONTHLY NO OTHER MEDIUM REACHES SO- MANY POTENTIAL CUSTOMERS AT A PRICE SO LOW. MANILA ELECTRIC COMPANY 134 SAN MARCELINO TEL. 2-19-11 Ihe American Chamber of Commerce Journal July, 1941 27

purplish dark tone. (Mrs. Stevens) wore the usual missionary nightgown." We never thought to come on a sketch like that in looking up the Kinau. 'Twas worth all. * * * Calamba Sugar Estate has sold Vicente Madrigal its Canlubang, Laguna property, plantation and improvements, together with milling contracts with planters in the district, for P5,500,000 at 4 years' payment. Other assets, cash in hand, products in course of sale, planters' loans, etc., remain Calamba's and sum perhaps more than P3,000,000. Calamba also retains its half interest in Del Carmen, or Pampanga Sugar Mills, 15,000 shares at par of $100, the equivalent of $6 the share on Calamba's 250,000 shares. The sale to Capitalist Madrigal is subject to stockholders' confirmation at a meeting in San Francisco, home of the company, July 11. The trustees, who arranged the sale, are Alfred Ehrman, Alfred Sutro, and Frank J. Blecher, Jr. No upset is anticipated. The land involved is about 19,000 acres comprising as handsome a cane and coconut plantation, in the foothills of Laguna, and partly perhaps in Batangas, as lies outdoors. It is fully improved for crop production and for residence, with complete systems of roads, railroads, and tele phone connections besides drainage and irrigation where needed. The community site at the mill, at Canlubang, is nothing short of a park. Many Manilans belong to the club there, Sunday outings to Canlubang for golf, tennis, swimming, bowling and picnicking are very popular. An airfield freely at the use of the military has long been maintained both there and at Del Carmen. Labor's welfare has always concerned the management. Athletics have always been encouraged and subsidized and for years, until just recently, Calamba had a team in Manila's baseball league-usually the pennant winner. Calamba has a large quota in the Philippines sugar allotment in the homeside market. Its mill handles the crop from the estate together with that from surrounding plantations and farms with whose owners milling contracts exist. This goes to the new owner, together with facilities for shredding and drying the coconut crop. Coconuts cover about 2,000 hectares of the estate, cane something less than 5,000 hectares. Tenants grow the cane under contracts lasting 5 years that are models of fairness to both parties. It has been a work of Calamba to show that the Filipino tenant family will discharge its obligations without a threat of debt hanging over it. Ca lamba tenants, between 200 and 300 families, renew their contracts term after term and keep out of debt to any one except themselves, for they have a bank at Canlubang where they maintain deposits and accommodate themselves with the occasional small loans every farmer sometimes requires. This estate is old. It existed in 1603, when it was the scene of the running to earth and the killing, of many thousands of Chinese who, no doubt in desperation, rose in rebellion at Manila and swarmed away through the provinces. It was once the hope of a silk industry, that Chinese were brought there to found. What the vicissitudes were is now hardly known, but the Chinese, in time, seem to have given over farming for merchandising. In the flourishing 19th century, Calamba was a friar-mission estate largely devoted to cane and the production of sugar. Rizal's father was a tenant there, and Rizal's childhood, until he came to Manila to school, was spent there; and after his execution the family lived on there, near the estate, while Rizal's great novels are redolent of the place. The revolutionary period commencing in 1896 threw Calamba out of cultivation. It was a wilderness when forerunners of the Estate company acquired it some 35 years ago. I I Compliments of the JAPANESE CHAMBER OF COMMERCE 28 The American Chamber of Commerce Journal July, 1941 (

i i I ii Many of the leading sugar men of the Philippines had a hand in building the remarkable property up to what it is as it passes, for the first timne, to Filipino ownership. No doubt in the beginning back in the 16th century it was part of an enco11 '(i'eda granted by Philip II to one of his officers-a practice done away with in 1600 but generously followed to that date. It was a way the king had of pensioning and rewarding a faithful crown servant, and of giving the Spanish community a permanency it would otherwise never have attained. For 20 years or more, Calamba Sugar Estate has paid dividends quite generously, sometimes as little as 6/c% a year, sometimes more than 20 ', depending of course on how good crops and prices were. So that this plantation, a model under the American flag, reversing the common Philippine practice respecting tenants, richly rewarded the capital invested in it. Schools with good grounds around them dot the plantation, and every tenant has an acreage for gardens, orchards, and livestock and poultry of his own. The Estate company's half ownership of Del Carmen is no mean interest. It brought more than $400,000 in the crop year 1939-1940, the latest reported, and has often brought more than $500,000.: *:r We are going to miss Gerhard W. "Pete" Kriedt a lot. You will recall the newspaper notices, that he died May 24 while weekending at Tagaytay, and that Manila Elks held memorial services for him May 27. He was a journeyman printer of the old school, the proprietor of the Kriedt Printing Company that he founded in 1928 and always kept complete ownership of. One of his physical ailments was chronic asthma; cerebral hemorrhage seems to have been the immediate cause of his death, and may have been brought on by a fit of coughing. For as long as we knew him, about 23 years, he had been one of pain's favorites; it was unfailing wells of humor, and sheer grit, we always thought, that kept him going; the most familiar gesture of his that we remember, from every encounter with him, was a grimace of pain, often enough the crankiness of his left leg, a stump badly surgeoned, or the usual struggle for breath, when he would grow purple and rummage ill his desk for the cubebs. Relieved a bit, he passed it all off with a smile and a jest. "I'm not exactly the old gray mare," he would say, "but I'm certainly not what I used to be!" We think that along with his troublesome leg, and the steel harness with which he pulled himself around with it, he suffered chronic arthritis. He was dyspeptic, often tormented with indigestion for hours after meals; he had of course to eat sparingly, and sometimes to fast days on end. You learned nothing of this merely from knowing him, since he was no hypochondriac; it just gradually seeped into your consciousness, a little each year. All the time he kept steadily at work, and built up his business to where the capital invested in it was about P40,000, perhaps a good deal more, and his cash balance in the bank was very respectable. This came of his rule of always saving something, not from parsimony; he was most generous, also charitable, but he never paid out more than he earned; and he liked to pay cash and discount his bills. He took a journeyman's pride in the work the shop turned out; he would do a job over, if it was faulty, but he aimed at journeyman standards and would not cut prices and slight work in order to keep the place busy. He also paid his employes top wages, and never laid men off. We had a small hand in a couple of things in which he evidenced professional pride. One was I Journeys You Enjoy i i i I i I I i I I I i I i i i I I VIA MRR for SPEED SHEER COMFORT DEPENDABILITY ECONOMY SAFETY It's the MRR System on fast schedules, comfortable and spacious appointments - it's precise transportation. where you rest as yout ride where you save on every trip + "GIVE 'TIL IT HELPS" + For schedules and fares Telephone 4-98-61 MANILA RAILROAD COMPANY Tutuban Central, 943 Azcarraga, Manila, Philippines 7'The American Chamber of Commwere Journal JulY, 1941 29

L SMOKE for Satisfaction and Economy LA YEBANA CIGARS & CIGARETTES MANILA our Manila Sunset, hand-set, a slim pocket volume that he turned out in 1928. He kept his autographed copy in his desk, and read some passage or other in it almost every day. The other thing he did for us that he liked was the Philippin.e-American Trade booklet, illustrated, of May last year. He sent dozens of copies of this to friends homeside. It was about as bulky a job as his job-presses ever tackled, and was handled 4 pages at a time. He was along in years when he opened the shop, and figured he ought to keep it small enough to be just a one-man plant. Music was his pleasure of evenings, the piano. He had played since childhood; he liked running over the classics, and if there were friends in for a mug or two of beer, impromptu barbershop harmony. Music took his mind off his besetting maladies, and also helped him cover up when attacks were acute. The last thing he wanted known was that he was in pain. His cook had a cinch, in a way; he never had to prepare more than an invalid would relish, and even these little morsels often went untouchedKriedt preferring hunger to a round with a nervous stomach. Such was Pete Kriedt, gifted in his craft and honorable and fondly likable as a man. As a boy he had been a Norwegian immigrant, his parents bringing the family over to Minneapolis. He himself perfected his American citizenship at Portland, Oregon, in 1902, where he and one or more of his brothers, with perhaps one or two friends, set up a print shop much like he had in Manila. He came to Manila in 1912 for the McCullough Printing Company, and afterward, until he opened his own shop, headed up the Times Press during the years it used to print this magazine. He was born in 1874. His brothers, Carl, Harry, and David, all died before him. His will is in favor of his sisters, Anna and Julia Kriedt, living in Minneapolis. Eleven nephews and nieces are living. Gary, one of Harry's boys, was here some years ago, working for his uncle; he is now back in San Francisco, and lately married. Harry was also known here, from a number of years' residence. "A man works hard for money," Kriedt used to say. "He ought to save it." This was tempered, as we have already said, both by generosity and impulsive charity. He was, in every way, the measure of a man. Pete, we miss you. Bert Covit, Jai-Alai's popular ad man, turned in his time at the end of June to become the first full-time American movie director in the Philippines. He has a contract with the leading producers, Sampaguita, a three-way contract under which he writes the scripts, directs the making of the pictures, and takes an acting part himself. He's a New York chap about 30 years old who had Washington Square dramatic experience and later, at Los Angeles as a newspaperman, a scent of the movie lots. A few months ago, in off hours from Jai-Alai, he wrote and directed a picture for Sampaguita, and played a part in it. The piece caught on. It is called Estrellita, has had a take of about P100,000 already, and is still in Sold Everywhere -- (V RIZAL PORTLAND CEMENT "The Builders' Choice" The CEMENT that insures maximum strength in minimum time and cost; backed by guarantee of satisfaction in product and in service. STRENGTH - BEAUTY - ECONOMY are the outstanding qualities of RIZAL CEMENT MADRIGAL AND COMPANY 8 M. del Banco Nacional Phone 2-19-62 MANILA i I OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. 30 Tae American Chamber of Commerce Journal July, 191l (

I I popular demand in the provinces. Covit's parts aren't as egotistical as this may sound. They are comedy relief; he takes the part of an American, talking Tagalog. His Tagalog may be ever so correct; no matter, everything he says wows the provinces, as well as Manila, even if he but asks for a drink of water. His fitrst picture under regular contract \ith Sampaguita (the owner is the Hon. Pedro Vera, the Assemblyman) is titled Lolita. He began shooting it Friday, June 13, when he shot 13 scenes with a black cat on the lot all the while. Such is his faith. Before essaying to write a Philippine script, he studied hundreds of Philippine pictures scientifically. This taught him exactly what the public wants, and that's what he tries to put in his ovwn pictures. As this magazine pointed out a year ago, melodrama and song must be plenteous in every picture, else it's no hit, and virtue and long-suffering must always be rewarded. The villain need not live to perpetuate his crimes. Even the heroine may die, but she should sing first. The people like the melodrama of their own lives brought before them on the screen. Director Covit will make a minimum of 3 pictures a year for Sampaguita, probably he will be able to make 4. There are 3 other directors, F. B. Icasiano, also newly employed, Manuel Silos, and Lorenzo P. Tuells. Silos's Tarhata is at the moment (June 18) packing 'em in at the Dalisay, on Rizal Avenue-a great hit. So was Tuells's latest, Tampuhan: Broken Friendship, approximately. Tarhata purports to be a dramatization of the career of Princess Tarhata of Sulu; there is Moro fighting in it, to stir the blood. A Philippine picture has a limited outlet; you may sell a few copies in Hawaii, perhaps one in Los Angeles, for the rest you have to get your money back from the circuits in the Philippines. A picture of more than average popularity may gross P80,000 to P120,000. A year's good luck hardly brings more than P60,000 a picture, for the average. To play safe a director should keep all-in costs below P30,000 per picture. Some companies have come croppers by making pictures at costs of P60,000 to as much as P100,000 and found themselves losing money, or making nothing, though their pictures were actually Popular sell-outs. There's been a lack of practical business management, not at all surprising in such a capricious industry. Some of the stars have worked up to bonuses of P1,000 per picture and salaries of P500 to P600 per month, work or play. These are few, of course. Girls popular in Philippine pictures include Carmen Rosales, Corazon Noble, Lota Delgado, Mila del Sol, Rosa del Rosario, Norma Blancaflor. Popular men include Rogelio de la Rosa, Eli Ramos, and Angel Esmeralda. The oldtime vaudeville ham, Ocampo, is a natural on the lot as a comedian. Cris Soto rivals him without imitating him, and Pugo and Togo, baldheaded, are slapstick kings. The theaters out in the provinces and the suburbs clamor for more Philippine pictures than they are ever supplied, because the boxoffice says the people want them. Hundreds could be used, we are reliably assured, but a top of about 3 dozen will be the year's output-and these by no means all the right type. We got interested in all this when we went to see Mrs. Harries, to find out how Theatres Supply Corporation of the Philippines, Inc., was faring. Mrs. Harries is the wife of Lieutenant Colonel H. L. Harries, U. S. A., retired. She went into the organization of Theatres Supply in 1932 with the late Guillermo Bosque when it was chiefly a supply house for theaters changing over from the silents to the talkies, then in their third year. She was interested in the ads in the theater programs at the M I See Our New SERVEL NEW CONVENIENCES NEW STYLING,~S U a NEW ARRANGEMENT f^ 2 l _of INTERIORS -T \ — NEW TEMPERATURE CONTROL NEW BEAUTY 41 9, 15y |but retaining our precedent- breaking 10-YEAR UNCONDITIONAL GU=RrNTEE I More than One and a Half Million are in daily use and the demand is growing. It pays to buy a SERVEL 0 MANILA GAS CORPORATION I The American Chamber of C.rmw Jowr l July, 194t 31

garrisons. But the business grew, and the company expanded into theater management and ownership. More capital came in. J. L. Fernandez, Photo Finishing owner, is now the company's president. Attorney Charles A. McDonough is the vicepresident, Mrs. Harries is the secretary, and Miguel Fernandez is the treasurer. Their string of theaters, that commenced with one or two at the larger garrisons 9 years ago, now numbers about 65, some owned outright, most of them held under leases. Philippine films commonly run up the largest take, but American films are most used because enough Phil ippine films are never to be had. Some theaters, where a new program comes on daily, take more than 360 pictures a year; others require double features about 3 times a week; we gather that there are few spots in the provinces where a program is good for more than 2 days. You can see, then, that the Philippine films, less than 40 a year, are a mere drop in the bucket. Theater people tell us that there is plenty of room for more, malarkey and all. It would then seem to us that from the material viewpoint there should be a close tie-up between the movie lots and the dramatics department at the Univer sity of the Philippines, because the acting we have seen in local films could be much better without pulling any stars out of the heavens. Out..right mugging is the commonest offense. It's awful, but the moniey rolls in. There's an American cameraman in the business, too. He is Williramn E. Jensen, who first worked here with Filippine Films. His laboratory is on calle Inverness, Paco, and he works independently among the various studios. He shot the underwater pictures in Zamboanga for Filippine Films. Frank Capra cut that picture and gave it the final touches for the screen, and his verdict was that Jensen's underwater work was the best he had ever seen. Sugar Market Report INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. - THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents 1. i. tELSIL, INC. Thirteenth-and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 I (May 16th to June 15th, 1941) --- By Warner, Barnes & Co., Ltd. The liquidation of parcels of sugar in more or less distressed positions continued during the first part of the period under review, and sales were made at down to 3.35~(; the decline was aggravated by the unfavourable war news and rumours of peace moves. However, when these distressed parcels were out of the way, a firmer tone became apparent, particularly on the part of Puerto Rican holders, who were reported advancing their ideas of price due to fears of a doubling of their freight rates, which have been on a low basis compared with rates generally prevailing. During this time, sales were made at around 3.45'. The refined sugar situation had continued to be rather disappointing, and poor withdrawals led to a reduction in prices to 4.95<'; however, this made no appreciable difference, and the market remained stagnant. In an effort to stimulate the movement of refined sugars, refiners next took the step of advancing their quotation to 5.05r, but two of the most important East Coast refiners failed to follow the general advance, thereby causing unsettlement of the situation generally. This was cleared up towards the middle of June, when the two refineries came into line with the general quotation. This settlement of the refined sugar market led to an improvement in the market for raws, which was also influenced by fears of a space shortage, and by reported cancellations of Philippine sugar bookings; as a result of this Atlantic Coast refiners took all offerings up the market, payingr 3.50 at the close of this period. At these levels, from 3.45i to 3.50, fairly heavey transactions in all sugars were reported. Labour troubles are anticipated at the Philadelphia refineries when the union cor t 32 The American Chamber of Commerce Jour7al July, 1941 (

tracts come up for renewal after June 15th, and it is also feared that the same misfortune may face some New York refineries at the end of the month. Quotations on the Exchange fluctuated as follows during the period: Copra And Its Products (Report for the month of May, 1941) By Kenneth B. Day & Leo Schnurmacher MAIL.......... Juiy.......... Seltember..... January 1942... Mal "... ~ ~ ~ Low 2.40( 2.41c 2.45e 2.48e 2.50c 2.53( High Latest 2.40(' 2.56c 2.56e 2.57C 2.57< 2.60c 2.60% 2.63, 2.63c 2.65< 2.65( The general betterment of prices of copra during April continued during the first half of May. The raise in ocean freight rates on coconut products was rescinded at the suggestion of the United States Maritime Commission and this had the effect of stopping all expectations of any large movement of copra so that buyers were compelled to withdraw from the market. In addition it became apparent that Congress was about to extend the Export Control Act to the Philippines, which would automatically stop exports of Reported sales of Philippine sugar during. the period amounted to 72,480 long tons at prices ranging from 3.35( to 3.50<, and re-sales to 30,100 tons at the same range. With reference to the reported cancellations of Philippine sugar bookings' mentioned from New York, it is confirmed locally that American owners have complied with requests of the U.S. Maritime Commission and have cancelled sugar bookings for an aggregate amount estimated to reach 100,000 tons; it is understood that the space thereby released is to be used primarily for strategic materials; in other words, the Maritime Commission's instructions are issued for reason of U.S. National Defense, and there is no move directed specifically at Philippine sugar shippers. Interested parties locally are reported to have filed a protest against these cancellations, but no further developments are yet reported. During the whole of this period, the market for export sugar has been limited and the only purchases reported are to fill space commitments of individual exporters. The freight cancellations above mentioned appear likely to cause some hardship to producers who had not sold their sugar earlier, since exporters will naturally concentrate on shipping stocks which had been shut out from prior commitments, before they again enter the market for renewed purchases. It is therefore considered unlikely that much business will be done in export sugar for some time. The market for domestic consumption sugat' has been more or less unchanged and quotations are down by five centavos to P4.05 per picul; little business is reported. Exports to the United States during the month of May remained at about the previous high monthly averages, amounting to 8.,303 tons centrifugals and 6,273 tons refined. Total shipments from November 1st, 1940 to May 31st, 1941, as detailed below, show about 250,000 tons still to be shipP'od: Centrifugals.............. 568,537 tons Relfined................... 24,644 " Total............. 593,181 tons 'lhe American Chamber of Commerce Journal July, 1941 Kenneth B. Day Leo Schnurmacher copra and coconut oil to Japanese and North China points. This also had the effect of withdrawing from the market those dealers who had been interested in this trade. The drought mentioned in our previous reports was broken during the latter half of May, but it is too early to determine the total effect upon the copra harvest of the drought. COPRA.-Arrivals both in Manila and Cebu were records for the month of May, but this was almost entirely due to the bringing in of copra which had been stored in the provinces, and was sold during the latter part of April and early May, and to the fact that very little copra could be moved from ports outside of Manila and Cebu. Arrivals in Manila were 37% over April, and 61% over arrivals of May, 1940, while arrivals in Cebu were 53% over arrivals of April and 38% over May of last year. The rapid raise in prices noted in April continued during the first week of May when prices rose from P9.00 to P11.50 per 100 kilos resecada Manila. This price held for another week and considerable selling developed mostly by dealers who were holding supplies accumulated in the provinces, and who unloaded much of their stock. By the 15th of the month, buyers had taken on all of the stocks they wished to purchase, the decrease in freight rates clearly made it impossible for exporters to expect to secure any copra space and the imminent extension of Export Control to the Philippines made the exportation of copra and coconut oil to Japan and North China extremely doubtful, and buyers generally withdrew. The market then dropped rapidly until the end of the month when quotations were P7.00 to P7.50, with buyers 33

I Southern Islands CPuises Cebu —)umnaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmariias Manila, P. I. Phone [phone] not heavily interested, and des ing contracts made at higher p: interested in further sales at t The Pacific Coast market fo to a peak of $4.25 on the basis freight rates, but as soon as it parent that the rates were no effect, prices dropped and closed with nominal quotati $3.25. One-half of the copra expoi North China and Japan, so th ports as a whole were fair, que ped to the United States were Statistics for the month foll Arrivals: Manila................. Cebu................... Shipments: Pacific Coast........... Atlantic Coast.......... China and Japan....... Total........... alers deliverrices and not he market. )r copra rose of increased t became apt going into the month ions around could be done at the Conference freight rates. Statistics for the month follow:Shipments: Metric Tonsj Pacific Coast.............. 7,697 Beginning End of Stocks on hand- of month month Tons Tons Manila and Cebu... 13,503 10,769 ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc.-New York Silver Line, Ltd.-London Java Pacific Line-Batavia Leif Hoegh A/S-New York Kawasaki Kisen Kaisha-Kobe Operating the Following Services: KERR-SILVER IRomnd Tlie World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) "K" LINE Express Service to Atlantic Ports (Philippines to U. S. Atlantic Ports via Panama) Stocks on handManila.......... Cebu............ Beginr of mo Tow 43,8! 32,1' COCONUT OIL-The coconu in the United States advanced first half of May, with a premium for prompt delivery. nut c.i.f. Atlantic Coast was high as 6-5/8 cents, and f.o. prices ranged up to 5/8 cent c.i.f. prices. With the colla market at the middle of the m reduced their ideas rapidly, an closed with buyers' ideas at c.i.f. without, however, any bu reduced price. Shipments to the United better and only 10% of si coconut oil went to North Japan. Statistics for the month fol Shipments: Pacific Coast.......... Atlantic Coast.......... China and Japan....... Total........... Beginn Stocks on hand- of mo Tor Manila and Cebu.. 16,U rted went to DESICCATED COCONUT-Shipments iat while ex- of desiccated coconut were 7,164 metric antities ship- tons, which is an all-time record. Desice very light. cators are continuing to work at full capaow:- city and the United States is continuing to Sacks absorb all of the desiccated coconut possible.633992 to ship. The desiccated consumers in the 514,861 United States are endeavoring to increase their inventories as it is feared that at Metric Tons any time shipments may be curtailed or 13,564 entirely cut off. There is therefore very... 2,032 little business done in future shipments and 15,620 desiccators are doing their utmost to produce as much of their product as possible.. 31,216 and get it on the way to the United States at the earliest possible date. ling End of mth month GENERAL- The month of May closed Tons with an outlook not at all favorable. The 81 33419 United States passed the Act extending the 79 33,122 Export Control to the Philippines and at the end of May the Act went into effect it oil market with no one knowing exactly how the I during the licensing system would be operated nor considerable exactly what effect it would have on the Bulk coco- market. quoted as Shipping space is becoming more and b. tank car more difficult to obtain. While space for above bulk coconut oil is still available in fair quanpse in the tities, there is very little space which can onth, buyers be secured for either copra or copra meal. d the month Priority products are taking increased 4-1/2 cents amounts of space which might otherwise be g at the available for copra products, and vessels lying at the are being withdrawn for other use, several having been withdrawn without adequate States were notice to shippers. hipments of China and low:Metric Tons Real Estate 3,310...,31515 By P. D. Carman 15,515... 2,113 Boulevard Heights... 20,6'8 _ May transfer ting End of exceeded in value sng End of onth month those of the same Ts Tons month in the last 361 20,647 23 years with Trade & Commere Bldg. 1 2-15-21 Tels. t 2-15-22 2-15-23 1 COPRA CAKE & MEAL-The cobra cake and meal market was very quiet throughout the month with little business done either for export or local consumption. Shipping space for copra meal to the Pacific Coast is becoming more and more difficult to secure. The cancellation of the freight increase dropped quotations on the Pacific Coast to the nominal figure of $30.00 per short ton c.i.f., but no business three 1935, 1938. - - - - - I exceptions, 1937 and Manila MANILA b~~~~~~~I-q i' t.~~~~~~4.J s t r o n g-material construction last month was valued at P31T,210. April, P377,680. -- 34 The Amerncan Chambe, of Commerce Journal July, 1941 (

Sales City of Manila 1941 Sta. Cruz...... Sampaloc....... Tondo........... Birnondo........ San Nicolas...... Ermita.......... Malate.......... Paco........... Sta. Ana........ Quiapo.......... San Miguel...... Sta. Mesa....... Pandacan....... April P 276,032 588,051 237,479 250,000 16,500 38,500 99,209 52,890 66,200 16,115 42,995 12,025 May P 183,439 346,469 107,687 231,000 199,164 28,491 81,1112 40,521 58,687 40,287 30,000 111,465 31,887 Shipments to provinces by water (Sacks) Month Quantity May, 1941.................... 76,186 May, 1940................... 169,825 April, 1941.................. 44,505 PALAY Drawing no encouragement from the rice market, buyers of palay continued bidding P2.45 for ordinary varieties against P2.50 of the NARIC for Macan ordinario or its equivalents delivered at Cabanatuan. (May, 1941) -By Alhambra Cigar & Cigarette Mfg. Co. TOBACCO: During May harvesting of the 1941 crop in the provinces of Cagayan and Isabela was terminated. In Easterr. Visayas, Pangasinan and the Ilocos provinces limited buying of the present crop was started. Prioes paid were about the same as in 1940. However, as some very important overseas markets are now practically closed on account of the war, lower prices for certain export grades are anti Tobacco Review P1,695,996 P1,490,270 Rice Review *1 pl 1 1 p) (May, 1941) By Dr. V. Buencamino Manager, National Rice & Corn Corp. RICE AMP forOV The maxket was still vulnerable to any feeY i:I ble selling presby its inability Ilocano rice was /.. offered at scalerespectively thruout the first fortnight, but receded 5 when Ilocano rice began selling at P4.95 in the third week and 10~ lower in the last few days. There were similar offerings of red rice at 40t less. The market closed quit with indications of underlying strength capable of recouping past losses and moving into higher ground when the pressure is rerelieved. For in addition to the strong statistical position of the market, should be considered the fact that the price of palay justifies a modest increase in the price of rice. The NARIC did not revise its price of P5.00 for imported rice, but it placed on the market a much higher quality of grains from the same stock at 60~ higher. Arrivals in Manila To UNITED STATES - -- A Vessel........ Middle Ju *A Vessel.......... Middle Ju A Vessel........ Late July A Vessel........... Late July A Vessel........ Late July A Vessel........ Late July ily ily I *A Vessel........... Early August A Vessel.......... Middle August '"Freight only FOR FURTHER INFORMATION REGARDING SAILINGS APPLY TO (Sacks) Month Rail May, 1941.... 141,145 May, 1940.... 103,411 April, 1941... 118,089 Water 13,033 11,199 Total 154,1', 3 103,411! 129,288 7he Am7erican Chamber of Commerce Journal July, 1941 35

cipated. Comparative export figures follow: are: China.......... Hong Kong.... French Indochina Straits Settlemeni United States.. Rawleaf, Stripped Tobacco and Scraps Kilos.... 57,099... 6,613 L.. 103,178 ts. 1,154.... 266,817 434,861 62,033 465,145 1,840,045 2,756,355 May April May January-May January-May 1941 1941 1940 1941 1940 Ciga' 10,989, 8,927, 17,112, 52,639, 78,739, Translation From Dr. P May April May January-May January-May 1941 1941 1940 1941 1940 Continued from page 13 CIGARS: Business with the United States still shows no improvement, amounting only to about two-thirds of the corresponding 1940 volume. Comparative figures of shipments to the United States ing everything to Manila was an arrangement. Products of north southern Luzon, of the Bisayas a of Mindanao had to be sent to Ma there exported, entailing no little expense and delay. Finally, at th( of the Philippine government, a i cree of September 29, 1855 opened een da le geaice g& 2a/it Cte4 54 CARSI CARMELO & B UERMANN, INC. J2~lik(zi^e 1 Pc Pz4 /2ca Mcae' Sl/4 Sgc'eet Pi ce * 1 7eli/e P/idia of Sual, Pangasinan, Iloilo, and Zamboal. rs ga, and in 1860, Cebu. Many Manilans 225 had looked on the abolition of the galleon 701 commerce with Acapulco with utter di.s 118 may, feeling that it signified the ruin and 148 commercial decadence of the Philippinles. 783 With the opening of ports to free c(ml. rmerce and navigation, quite the contrary was true, the Islands enjoyed tremendous 'alma economic progress. Sinibaldo de Mas had written of Philippine commerce in 1810: "Philippine commerce chiefly consists in ackward receiving funds from New Spain and relern and mitting by the return voyage articles from ind even China and India; the importation of fornila and eign goods consumed in the Philippines needless mounts to the value of P900,000, and the e request exportation of native products such as suroyal de- gar, indigo, hides, etc., does not exceed the port P500,000. The gains, therefore, of the traffic, of which Manila is the sole entrepot, are distributed among the merchants who monopolize the galleon space, but the country's resources are not benefited." The situation changed entirely with the advent of free commerce. Exports consisted of Philippine products, in contrast with oriental manufactures; in 1839 the / value of Philippine exports was P2,674,220 against only P500,000 in 1810. In 1872, sugar claimed the chief attention of planters and 300,000 piculs were exported, a quantity to be compared with 146,661 piculs in 1840, 566,371 in 1845, and 714,059 in 1847. Exports of Manila hemp to England and America enjoyed the same progress: 83,790 piculs in 1840, 102,490 in 1845, 123,410 in 1850, 221,518 in 1853, 327,574 in 1357, and 412,502 in 1858. (The Crimean war greatly stimulated staple Philippine exports.-Ed.). Similar impulses were felt at the other ports. In 1857 Sual exported 12 cargoes of rice and sent 225 cargoes to Manila. She exported 60 cargoes in 1860, and sent 192 to Manila. Iloilo's exports were valued at P82,000 in 1858, and at P100,000 C in 1863. Free commerce not only gave Philippine planters increasing prosperity but enabled them at the same time to imnprove their methods of cultivation. As late as 1857, Jagor found not a single steel mill for the manufacture of sugar; everything was wood, but in 1860 he noticed that many steel mills had been installed, replacing wooden contrivances. The foreign competition that brought with it the opening of the ports to commerce induced many men who found they could not conmpete with the Chinese in selling foreign imports, to devote themselves to the production of sugar and other products. Thus were founded the sugar plantations of I1,ilo and Negros, the hemp plantations of southern Luzon and the Bisayas, and tle, coffee plantations of Batangas-by reason of the ready profits to be gained. krea (A further translation from Dr. Palnm-' will appear next month.) I Luzon Stevedoring Co., In Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port A w, -- 36 The American Chamber of Commerce Journal July, 19.'1

COIMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING MAY, 1941 WITH APRIL, 1941, AND THEIR AVERAGE FOR THE LAST TEN MONTHS Groups of exports May 1941 April 1941 Average per month, July, 1940 to April, 1941 TOTAL EXPORTS.......... Anrnals, edible, total............ Meat products, total.............! Fish and fish products, total..... Animal products, inedible, total.. Other animals and animal products, to tal........................... Grnins and preparations, total.... Ve,:etables and preparations, total Fruits and preparations, total..... Nuts, total...................... Coconuts, coconut oil, copra, and other coconut products, total... Cacao and coffee, total.......... Sugar and related products, total Beverages, wines, and liquors, total Gums and resins, total.......... Ht'rbs, leaves and roots, crude, total Oils, other than coconut, total... Rubber and manufactures, total Plant dyeing and tanning extracts, total.......................... Seeds, total.................... Tobacco and manufactures, total.. Miscellaneous plant products, total Fibers and manufactures, total... Cotton, textiles, embroideries, and miscellaneous fiber products, total Logs, timber and lumber, total... Wood, bamboo, reed, and rattan manufactures, total............ Minerals and metals including gold and silver, total............... Medicinal and pharmaceutical preparations, total................ Chemicals, total.................. Explosives, total................ Soap and toilet preparations, total Miscellaneous, total.............. Foreign merchandize (re-exports), total........................... (Pcsos) 36.218,764 1.392 65,678 313,711 250 31,007 2, 00 140,952 60,147 7,688,714 10,564,483 16,79? 148.410 1.613 5,330 62.611 13 100 549,205 641 3,911,177 839,756 671,085 87,452 9,719,382 1,244 112,698 16,303 85,999 1,119,619 (Pesos) 32,961,443 88 6 82,028 80,237 600 34,746 372,417 818 4,621,926 8,909,577 10.532 46,758 4,869 46,958 579,918 342 3,731,085 846,313 775,997 40,043 10,973,914 1,859 90 25,595 92,610 1,682,117 (Pesos) 26.754.354 508 42,48 42,488 58.7-9 370 14,123 3,269 286,101 31,045 3,558,864 1 7,577,662 31,174 37,712 4.111 4,629 81.280 4 212 770,293 1,331 2,834,887 852,157 694,697 58,735 8,690,727 2,987 13,927 20 15,909 72,603 1,009,654 COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORTS DURING MAY, 1941 WITH APRIL, 1941, AND THEIR AVERAGE FOR THE LAST TEN MONTHS Average May April per month Groups of imports 1941 1941 July, 1940 to April, 1941 (Pesos) (Pesos) (Pesos) TOTAL IMPORTS.......... 26.790,464 20,542.576 20,787.969 Animals, total.................. 3,668 11,884 11,745 Meat products, total............. 140.418 173,824 191,682 Animal oils and fats, edible, total. 3,522 5,280 2,718 Dairy products, total............ 1,286,616 643,430 843,444 Fish and fish products, total.... 294,996 240,804 243,373 Other edible animal products, total............................ 7,722 2,766 20,044 Animal products, inedible, total.. 487,846 372,004 304,900 Other inedible animal products, total........................... 35,724 33,776 19,892 Grains and preparations, total... 1,506,264 958,500 1,057,907 Vegetables and vegetable preparations, total.................... 266,852 334,624 356,139 Fruits and fruit preparations, total............................ 251,390 204,386 262.826 Nuts and nut preparations, total. 3,950 4,922 13,800 Vegetable oils and fats, edible, total............................ 16,642 26,116 37,306 Cocoa, coffee, tea, total.......... 319,618 280,256 313,608 Spices, total..................... 1,166 3,796 5,023 Sugar, molasses, syrups, total.... 165,030 127,492 117,021 Beverages, wines, liquors, total. 223,928 107,106 100,048 Rubber and manufactures, total. 772,882 419,096 482,297 Gums, resins, oils, total......... 104,038 72,026 58,124 Roots, herbs, barks, etc., total.... 61,064 26,302 46,652 Tobacco and manufactures of, total 1,630,578 1,269,994 1,277,747 Seeds (except oil seeds) and nursery stock, total.............. 10,280 5,256 7,672 Miscellaneous vegetable products, total.......................... 28,404 14,990 21,615 Manufactures of straw, rushes, and palm leaf, total............... 3,598 3,156 3,816 Textiles, fibers, and manufactures of, total...................... 6,668,622 4,693,736 4,157,435 Wood and manufactures of, total 86,414 86,482 72.762 Cork and manufactures, total.... 2,194 7,156 5,500 Paper and manufactures, total... 1,476,750 777,126 986,693 Non-mnetallic minerals, petroleum, etc., total...................... 2,373,932 2,848,144 2,411,444 Metals and manufactures of, total 5,777,248 4,408,528 5,099,606 Chemicals, drugs, dyes, medicines, total...................... 1,179,566 650,280 698,151 Fertilizers, and fertilizer materials, total........................... 10 35,884 389,994 Explosives, fireworks and ammunitions, total.................... 34,718 638,762 241,823 Pigments, paints and varnishes, total...........234,754 174,408 152,885 Soap and toilet preparations, total 448,526 367,840 219,979 Miscellaneous, total.............. 882,634 512,444 553,309 TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: MAY, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Nationality of carrying vessel Value Per cent of TOTAL EXPORTS........... 36,218,764 100.0 American........................ 11,931,499 32.9 Norwegian....................... 7,396,717 20.4 Mail............................. 6,859,894 18.9 Japanese......................... 5,918,279 16.3 Philippine........................ 2,528,963 7.0 British........................... 482,835 1.3 Dutch............................ 452,881 1.3 French........................... 393,219 1.1 Swedish......................... 106,687 0.3 Russian.......................... 85,558 0.2 Greek............................ 41,750 0. Danish.......................... 12,263 (1) Aircraft......................... 6,881 (1) Panaman......................... 1,338 (1) (1) Less than 0.1 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: MAY AND APRIL, 1941 M a y April Per cent Port of origin Value Per cent incVeaskto Value of Value April to (Pesos) total (Pesos) May TOTAL EXPORTS........... 36,218,764 100.0 32,961,443 9.9 Manila........................... 18,734,792 51.7 19,451,618 - 3.7 Celb............................. 5,351,116 14.8 3,614,508 48.0 Ilolo............................ 8,406,957 23.2 5,462,106 53.9 )avao........................... 1,647,984 4.6 2,579,127 - 36.1 Leaspi.......................... 160,473 0.4 477,066 - 66.4 Jol............................. 2,4 (1) S8,274 - 97.3 Zamboanga...................... 432.089 1.2 310,352 39.2 J( 'e Pafiganiban................. 1,483.008 4.1 978.392 51.6 ~~~~.......... TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: MAY, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL IMPORTS........... 26,790,464 100.0 American........................ 13,276,124 49.6 Norwegian....................... 6,562,150 24.5 Philippine........................ 2,344,272 8.8 Dutch............................ 1,594,478 6.0 British........................... 1,113,214 4.2 Japanese......................... 900,520 3.4 Mail............................. 485,636 1.8 Swedish......................... 239,854 0.9 Panaman........................ 178,666 0.7 Aircraft.......................... 58,272 0.2 French........................... 37,278 0.1 TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: MAY AND APRIL, 1941 M a y April Per cent Per cent increasePort of entry Value Per cent Value increase of April to (Pesos) tot (Pesos) May TOTAL IMPORTS........... 26,790,464 100.0 20,542,576 30 4 Manila........................... 24,560,704 91.7 18,810,45.1 30.6 Cebu............................. 1,444,776 5.4 1,160,366 24.5 Iloilo............................ 502,856 1.9 365,242 37.7 Davao........................... 259,742 1.0 79,088 228 4 Legaspi.......................... 6,414 (1) 6,060 5.8 Jolo............................. 3,832 (1) 10,106 - 62.1 Zamboanga....................... 11,990 (1) 31,578 -62.0 Jose Pafiganiban................ 132 (1) 79.595 -99.8 Aparri........................... 18 (1) 86 -79.1 @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. "' I American Chambher of Commerce Journal Jl/1, 1941 37

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company FREIGHT REVENUE CAR I INUMBER OF COMMODITIES FREIGHT CARS I U'RPT TONI The freight revenue car loading statistics for four weeks ending May 24, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of February, March, April, and May, 1941, via the Manila Railroad Company is as follows: R ice................ Palay.............. Sugar............... sugar Cane........ Copra.............. Coconuts............ Molasses............. Hemp................ Tobacco............. Livestock........... Mineral Products.... Lumber and Timber Other Forest Product, Manufactures........ All Others includ; n, L.C.L.......... TOTAL.... 1941 1940 503 363 71 42 191 358 582 585 199 73 12 - 8 1 37 18 203 402 344 379 10 3 311 295 2,793 2,680 1941 7,187 850 5,869 7,029 2,583 101 49 415 2,525 9,080 102 4,314 LOADING IGHT Increase or,'AGE Decrease 1940 Cars Tonnrl 5,020 140 2167 435 29 415 11,209 ( 167)1i 5.340) 5,191 ( 3) 1.838 791 126 1,792 - | 12 101 5 7 44 142 19 273 3,564 ( 199) (1,039) 9,332 ( 35) 252) 27 7 75 4,513 16 1 9 9) 20,663 113 7.227 60,892 65 7,102 -_ _, ~ _ I 27,890 5,264 5,1991 67,994 COTMMODfITIES FEB. MARCH APRIL MAY Rice, cavanes.................... 107,508 155,913 124,236 140,315 Sugar, piculs................... 706,520 744,382 173,159 48,753 Copra, piculs..................... 172,206 105,163 107,447 178.108 Desiccated Coconuts, cases....... 52,593 61,869 61,982 85,078 Tobacco, bales...................... 2,563 848 68 781 Lumber, board feet............... 2,026,558 2,970,101 2,535,167 2,898,630 Timber, kilos..................... 252.000 499,000 1,774,000 1,734,000 SUMMARY Week ending May 3, 1,099 1,215 13,545 13,1211 ( 116) 424 10, 1,317 1.401 16,058 17,888 ( 84) (1,830) " 17, 1,416 1,296 18,819 i 15,741 120 3,078 24, 1,432 1,287 19,572 14,142 145 5,430 TOTAL....... 5,264 5,199 67,994 60,892 65..102 NOTE-Figures in parenthesis indicate decrease. Foreign Exchange Review (May 24th to June 23rd, 1941) By J. Rapoport Throughout the rest of May the undertone remained easy and the dollar- peso r a t e continued on the same level as during the end of the preceding period. T he market opened with small sellers of ready dollars at 1/8% pr., July-August at 1/4%/o pr. and October-November at 3/8% pr. Buyers, being few and far between, were offering 1/16% pr. for ready dollars, at which rate isolated interbank transactions took place. There was also a small business done in July and August dollars at 1/4% pr., indicating general anticipation of an improvement in the dollar rate in the near future. Generally speaking, cash position of most of the banks has eased off throughout the first half of June, but banks remained very reluctant to part with their pesos, anticipating large demands for cash for payment of real estate tax and dividends declared by various companies for the second quarter. During the first week of June interbank dollar transactions were closed at the following rates: prompt 1/16% and 1/8% pr., July delivery-3/16% pr., October and November 3/8% pr., the volume of sales being moderate. Towards the middle of the month pressure for ready cash has somewhat increased, and banks resorted to change-overs in order to obtain ready pesos. The penalty for change-overs was the highest paid so far: 1/4%o for 3-1/2 months and 1/8%l for 1-1/2 month, in favour of buyers of ready dollars, which works out at a little over 3/4% per annum. This penalty may not seem high at first, unless one remembers that the penalty has usually been paid by the buyer of ready dollars and not by the seller. Towards the end of the period under review offerings of ready dollars have slackened and since cash position showed definite signs of improvement the undertcne of the market became considerably stronger. Dollar rate moved up to 1/4% pr. for spot and July on a fairly large turnover, and three and four month future dollars were quoted at aroond 7/16% pr. Banks' selling rate for clean T.T. to merchants rose from 1/4% pr. to 3/8 and 1/2% pr., and buying rate from par to 1/8% pr. lbL BUSINESS AND PROFESSIONAL DIRECTORY CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorney-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships i Investments Collections Income Tax 560 Taft Avenue Manila, P. I. I 38 The American Chamber of Commerce Jour2al July, 1941

i t p f I 11 THE AMER'CAN CHAMBER OF COMMERCE~~~~~~~~~~~~~, I. OU NAL~~l0'Ot'l,*1 MANIL~~A, PHILIPPINES. XI, No, 8 '[ T(-' I " SI' I 9 ' -A i I.! _4 1 IXI, NO. S AII(U1ST 19il ~~~~~~~~~~~~~~~~~~3'5(TT()

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BANCO HIPOTECARIO DE FILIPINAS Banco Hipotecario Building 3-9 Plaza Cervantes, Manila o SAVINGS ACCOUNTS Accounts opened from P1.00 up with interest computed quarterly. FIXED DEPOSITS At rates which may be had on application. 0 ANDRES SORIANO E. VAZQUEZ-PRADA President General Manager nk * ~ Robert Clauson -Former school superintendent in the Philippines, retired and living at 3537 61st St. Huntington Park, California. "I am inclosing a post office money order to cover 2 years. I find the Journal good reading, as do quite a few of my friends here. It gets some queer readers, from a church janitor, Protestant, to a Catholic priest, and from a steel worker to a professor, in a college of business administration." (Reader Clauson is much improved in health of late, a turn of fortune that will please his friends here). R. Renton Hind -President, Hind Sugar Co., Manaoag, Pangasinan. "Was much interested in your reference to the wreck of the KINAU and to her sister ships of ancient vintage now plying in Philippine waters under "Just Little Things" in your July issue. Any ship, large or small, that served Hawaiian interisland trade for 45 years and was able to fight her way across the Pacific to serve us for another 13 years before stubbing her toe on a sunken hulk is worth a drop or two of printer's ink. "It would be a unique experience for one to step aboard a ship-his first-as a lad and nearly 40 years later purchase that very ship. That experience was mine. "In 1892 my father took me-a boy of seven-from the Island of Hawaii to Honolulu. I had never been on a sea-going vessel before, much less a whale boat that took us from shore to ship. Upon boarding, we proceeded to the purser's office (the radio room at the time she was wrecked) and father paid over a couple of gold pieces to "Commodore" George Beckley (a truly "Ancient Mariner") who deposited them, against the issuance of a receipt, in the drawer of a safe. I recall that I could barely see over the "half-door" counter across which the transaction took place. "Nearly 40 years later I represented a group of investors which purchased the KINAU in Honolulu and brought her out here under the command of Capt. Manuel del Pan. George Bradford of the Everett Steamship Corp. took over her management and operation and as the purser's office was to be turned over to the radio crew I prevailed upon him to let me have that famous Beckley safe which had transported millions of dollars in payroll money from Honolulu to the Hawaiian outports during her 45 years service there. That safe, which was an important factor in my first ocean voyage, now reposes in my office here at Manaoag! Page Mr. Ripley." (As our readers know, Reader Hind is one of the leading sugarmen of the Philippines.) ELIZALDE & CO., INC. Sole Distributor For P. I. Muelle de la Industria, Manila — ~ ~ ~~ 2 The American Chambe'r of Cotmmerce Joi'tlual August, 1.' l (

< Henry E. Neibert — Civil engineer and prospector, "In the Hills", Zamboanga Province. "Your letter dated the 1st instant reached here day before yesterday (July 12), having come by special messenger sent for the specific purpose of bringing mail. This usually nappens but once a month so you readily observe that mail facilities of the quickest kind are not what we have the most of here. "Radio Press Bulletins preserved for me by the Chief Clerk at Overseas Club, Zamboanga, from May 12 to June 30, 1941, also came. The special messenger during June failed to make connection to get these bulletins, so we were behind but a matter of a little over two months' time on war and other world events. We are quite up to date now, being but fourteen days behind. Obviously, the war doesn't seem to stop because of this failure of ours to be properly informed about it. "Both you and Mr. Boericke have been extremely nice in preparing for publication in your Journal material from my MSS on prospecting. The impulse back of writing it was the hope that it might be indirectly helpful to the mining industry; but there was little expectation that it would receive any attention. Its publication in summarized form gives it an unexpected prominence which, to be quite frank, is pleasing. "To do my part and not delay your plans, I am going to Zamboanga on Wednesday, July 16, to dig up the photo and include it with the biographical sketch in a letter to Mr. Boericke. The letter to him with both the biography and photo will be in the mail in Zamboanga on Wednesday afternoon and should go on the mail per M/S DON ISIDRO, arriving in Manila, Sunday, July 20th. Arrangements have already been made for the vinta to take me down the coast tomorrow night, Tuesday, thus trying to keep faith with you two gentlemen." (See our miningnews section.) From Fortune Magazine "Of the two ways of compelling Russo-German collaboration, diplomatic pressure has now given way to armed force. The first method, which was that of making Stalin a Nazi Gauleiter for the Ukraine and the Caucasus, no doubt failed on the score of efficiency: the Russians presumably just couldn't deliver enough grain and enough oil to make the Nazi-Soviet pact a useful means of carrying on the war against England. Stalin certainly did not court the attack of June 22, but he may have brought it on himself by stalling on delivery of goods to the Germans and on letting Nazi efficiency experts take over in the Ukraine and elsewhere. The need to settle matters once and for all on his eastern front before attacking or asking for a peace in western and Mediterranean theatres of war apparently compelled Hitler to undertake the defeat of the last important army in Europe. "At best, the war can give England and America more time to arm and perhaps allow the British added op - ----- -- - - ------- -- — ~ --- ----- --- - --- --- RESTAURANT DE PARIS French Cuisine Direction of Madame Savary Isaac Peral at Dewey Blvd. Tel. 2-89-35 I - - -- WISE & COMPANY, INC. Cebu MANILA Iloilo FOUNDED 1826 EXPORTERS Coconut Oil, Copra, Copra Cake & Meal, Lumber and Gum IMPORTERS Agents For: Pillsbury Flour Mills Co., J. & P. Coats' Thread, Jacob's Biscuits and Crackers, Crosse and Blackwell's Products, Haas Bros. Groceries, Slazengers' Tennis Balls, "IXL" Carbide, Cotton and Linen Textiles, Khaki "Wigan", Etc. REAL ESTATE INSURANCE Fire, Marine, Life, Automobile, Workman's Compensation, Bonds Wise Building, Juan Luna MANILA OFFICE Cable Address "SAPIENS" Standard Codes Ll. - ----- Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL - - - P 2,000,000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. O. Box 3369, Manila, Philippines w - - ---- The American Chamber of Coimmerce Journal ~Au.g.u st, 1941 3

HANSON, ORTH & STEVENSON, INC. MANILA CEBU DAVAO IMPORTERS * EXPORTERS STEAMSHIP AGENTS INSURANCE AGENTS portunity to bomb western Germany. At worst, if the U.S.S.R. proves to be another France, it will result in Hitler's getting the grain and oil he needs-provided, of course, he can organize the delivery. And in the event of the total defeat and dismemberment of Soviet Russia, Hitler-dominated governments may appear on the borders of India and Iran-and even in eastern Siberia, where Nazi or Japanese airfields could be set up within close range of Alaska. While it is barely possible that Hitler may be repeating Napoleon's error of 1812, readers should be warned that the development of the motor truck and bombing and reconnaissance planes makes it extremely unlikely that the Russians will be able to retreat and retreat in a long delaying war-and so avoid demoralization of their army by Hitler's Panzer divisions. All signs point to Russian and German forces meeting in decisive head-on conflict, with Hitler the victor. And the attack on the Soviet Union plays into Hitler's hands from the psychological point of view: not only will certain disaffected Russians-Ukrainian and Caucasian nationalists, army officers who hate Stalin-hail the Germans as liberators, but Hitler will now be able to pose once more as the defender of Europe against Asiatic Bolshevism. This will certainly have its effect in Catholic Portugal and Spain; it may also have its incalculable effects in Britain and the U.S." (Not altogether supported by events at this date, July 22.) COOL OFF! with a glass of ice - cold San3 iiguel The BEST of GOOD BEERS Since 1890 WI VI2gue BuelPerM L 4 The American Chamber of Commerce Journal August, 1941

I Days of '98! And some men who played prominent roles in America's acquisition of the Philippines - as they then looked to the camera. For Auld Lang Syne! Major General Wesley E. Merritt, U. S. A., commanded the American forces that on August 13, 1898, occupied Manila. President William McKinley defeated William Jennings Bryan of Nebraska for the presidency in 1896 in a gold vs. silver campaign and had been in the White House 2 years when events precipitated war with Spain. Theodore "Teddy" Roosevelt was acting Secretary of the Navy when Congress declared war on SFain, and he ordered Dewey, commanding the Asiatic Squadron, to find the Spanish fleet and destroy it. Commodore George Dewey, U. S. N. Through Roosevelt's and Senator Henry Cabot Lodge's influence, he. had been chosen to command the U. S. Asiatic Squadron on the eve of the certainty of war with Spain. He found Montojo's flset at Cavite and destroyed it, then had to stay on. [Continued on next page] The American Chamber of,Commerce Journal August, 1941 5

John Hay As McKinley's Secretary of State, he found acquisition of the Philippines assisting his open-door policy in China, that he had maintained against the other Powers. George Frisbie Hoar Senior senator at thie time from Massachusetts, Lodge his junior, Senator Hoar was strongly opposed to taking over the Philippines. William Dean Howells Through all the clamor of "Imperialism" and "Anti-Imperialism", William Dean Howells, then dean of contemporary American letters, continued writing novels and editing Mark Twain. Henry Cabot Lodge Junior senator from Massachusetts at the time (Hoar his senior), Lodge helped Roosevelt and Dewey with the preliminaries to acquisition of the Philippines and backed McKinley's retention policy. In 1896 he stood on a "silver" platform for the presidency, and in 1900, when he came the nearest in his experience to being elected, on an anti-imperialism platform. Samuel L. Clemens (Mark Twain) Mark Twain was often at the White House when Theodore Roosevelt was president, until, when he was dictatinlg his autobiography, the "Bud Dajo" fight in Sulu was reported. That ended it all for Mark. He was a great benefactor of Philippine commerce, in that the phonograph, of his invention, was, until the radio era, a major item in American manufactures in demand among Filipinos. Helen Miller Gould Daughter of the railroad king Jay Gould, her interest was in the welfare of the American troops. She furnished many thousands of a folding camp cot, and the "Helen Gould Cot" is still on Philippine duty. Major General A. R. Chafee, U. S. A. He had been promoted from the ranks and in the relief of Peking legations from the Boxers, commanded the American forces. He also had commanded at Fort Santiago. His annual reports are important Philippine documents. Major General H. W. Lawton, U. S. A. An active and able campaigner against Aguinaldo, sharpshooters identified him by the white horse he rode. He was killed in action, the only officer of his rank who was. Major General Arthur MacArthur, U. S. A. On July 4, 1901, as the last of the military governors, he introduced William H. Taft at the inauguration ceremonies on Plaza McKinley, Taft taking office as civil governor. Arthur MacArthur (himself later raised to a lieutenant generalship) was the father of Lieutenant General Douglas MacArthur, U. S. A., of whom a note elsewhere. Richmond Pearson Hobson Assistant naval constructor He and 7 volunteers sank the Merrimac in Santiago harbor to bottle up Cervera's fleet, everybody knows. Less known is the fact that in 1903 he raised the ships of Montojo's fleet, sunk by Dewey, off Cavite. He died only recently.

Philippine Farm Progress Under America Philippine exports are discussed more than is usual this year, because freights are high, ships are comparatively scarce, and since June 16, export control has applied to Europe and to European businessmen and business houses in the Philippines. This control has now been extended to China and Japan, and to Chinese and Japanese. However, the first half of 1941 makes no poor showing beside the same period in 1940. Business overseas is by no means stagnant. From the census bureau we have some data, in a table on this page, comparing principal Philippine exports by values and quantities during the first half of 1931, 1936, 1940 and 1941. The products are sugar, copra, copra meal and cake, coconut oil, Manila hemp,. Philippine tobacco leaf and scrap, Philippine cigars, lumber and logs. Total values below the tables are therefore not to be confused with total values of all exports in the same periods; interest is in the principal exports, minerals excluded, from which the larger portion of the people makes a living. The table shows that the value of these principal exports during January-June 1941 was more than 10 million pesos above the same value during the first half of 1936. Perhaps more significantly, it is less than 2 million pesos below the same value during the first half of last year. More sugar (that brought less money) was exported to the United States during the first 6 months of this year than during the same period last year. There's even a better side to it all. While World War I by-passed the Philippines and World War II may not do so, the Philippines have a brace of major farm products that are likely to move to market even under convoy, if necessary. One is Manila hemp, fiber for cordage, the other is coconut oil with its high content of glycerine for munitions. (Among Philippine metals, incidentally, 2 fall in the same category, manganese and metallurgical chromite). The Philippines may not be assured as generous markets in the United States for everything they have to sell as they have in peace times; ne vertheless, worse come to worst, they will sell America fiber and oil. For the occasion of Occupation Day month, we looked up some other data at the census bureau showing growth of production of principal export crops of the Philippines during the American period, commencing in 1903. Manila hemp, enduring prolonged depression until well after World War II began, has declined in area of total plantings since 1918. The same holds true of production. The hectarage of hemp has grown only some 70,000 hectares PRINCIPAL EXPORTS First Half 1931 First Half 1936 Commodities Unit Quantity Value (Pesos) Quantity Value (Pesos) Sugar............ Kilos 565,459,544 75,113,348 279,068,596 34,548,348 Copra............ " 85,662,189 10,083,562 144,001,960 13,558,408 Copra Meal & Cake " 45,102,517 1,353,329 52,896,189 1,543,369 Coconut Oil...... " 83,789,736 17,135,202 74,236,516 11,76'7,863 Hemp............ Bales 589,190 10,774,269 583,222 15,199,027 Tobacco & Scrap.. Kilos 1,025,023 591,001 540,335 193,682 Cigars............ Number 79,109,736 2,998,773 89,486,848 2,745,954 Lumber & Logs.. Bd.Ft. 30,013,559 1,659,688 82,705,931 2,876,332 TOTALS......... 119,709,172 82,432,983 First Half 1940 First Half 1941 Commodities Unit Quantity Value (Pesos) Quantity Value (Pesos) Sugar............ Kilos 458,392,572 48,575,022 463,125,054 44,333,473 Copra............ " 191,876,980 12,569,149 157,346,363 10,441,022 Copra Meal & Cake " 57,895,092 1,885,557 37,398,481 683,633 Coconut Oil...... " 98,311,054 12,028,862 111,541,872 13,236,140 Hemp............ Bales 657,265 11,815,120 710,007 16,927,771 Tobacco & Scrap.. Kilos 1,708,590 491,347 1,270,623 613,654 Cigars............ Number 101,829,613 3,350,689 76,525,521 2,289,853 Lumber & Logs.. Bd.Ft. 96,446,182 3,502,980 97,951,663 4,410,621 TOTALS......... 94,218,726 92,936,167,!w Sugar The Americam Chamber of Commerce Jounl August, 1941 7

during the American period, though much larger in 1918. The figures are all from the census, 1903, 1918, and 1939. The hectarage of coconuts in the Philippines has been multiplied by 7 during the American period, and production by about 11. Tobacco areas have been increased by 2/3. There is great variation in tobacco yields one season with another; 1939's yield was about double 1903's. The Philippines sugar area of 71,855 hectares in 1903, rose to 229,698 hectares in 1939. There is no forced cropping in the Philippines, where the largest crop, rice, is not grown for export but for domestic consumption and is never enough to keep pace with rising wages and the rising population, though encouraged, strangely, by a customs duty making the domestic price usually about double the ruling world price —something comparable to an American duty on sugar, but with more far-reaching effects. Free cropping in the Philippines makes a poor statistical record. The people do not produce beyond their desires, the basic conditions of tenancy have not changed materially. The old argument persists that the debtor tenant is indolent, while he says debt is the cause of his lack of enterprise. M. Kobayashi, a former Mitsui Bussan Kaisha executive here, compares Philippine farming with Formosa's in the Free Press of July 12, and says that the Philippines, if guided properly, can turn out 20 times the products they now do, or the value of 10 billion pesos a year. Even sugar, he says, has only to reduce costs 30% in order to survive, presumably in the American market chiefly, after independence in 1946. He says the Philippines can multiply their rice crop 5 to 7 times by following Formosan methods. Formosa's population is 6 million, that of the Philippines about 17 million. Yet the value of Formosa's farm products exceeds that of the Philippines by 20 %; on 65 % as much land, Formosans grow 1.4 times as much sugar as the Philippines do; from a hectare a Formosan farmer gathers 49 cavans of hulled rice, a Filipino farmer only 18 cavans; and Formosa grows 166 piculs of sugar to the hectare, where the Philippines grow 71 piculs. Filipinos, never crossing bridges till they reach them, reckon freedom an offset to all this. Their progress under association with the United States can't fairly be taken up item by item. Its full scope is that of their general welfare, as free citi. zens. If the country remains free (as in its association with the United States it essentially is), it will reach the obvious potentialities of its natural resources slowly. This should, for men with a sense of democracy, be a happy prospect: it leaves something new and inviting for every oncoming generation. Stripping Hemp at a Davao Plantation Douglas MacArthur Lieutenant General, U. S. Army In Field Marshal uniform, his rank in the service of the Commonwealth of the Philippines. President Roosevelt in tightening up American defense in the western Pacific appointed Douglas MacArthur to the rank of Lieutenant General and put him back on active duty in command of the U. S. Army forces in the Far East including the Philippines where the strongest force numerically is the Philippine Army he planned and created for President Quezon. The appointment is of course recognized as an excellent one and its approval by the United States Senate was of course unanimous. Our pictorial section in September will carry a picture of Lieutenant General Douglas MacArthur in his new uniform, and pictures of ranking officers in the Philippine Army. The editorial section will include an outline of his career. ABACA COCONUTS TOBACCO SUGAR Census Copra Census Area Production Area uts o Ae Production Area Production | Ha. | KKilos Ha. Gathered K s Ha. Kilos Ha. Kilos H a. K ilo s.__ _ _ _ _ _ _ _-__ _ _ _ _ _ ___lo 1903 214,862 64,989,46; 150,4 205,567,900 42,924,75'. 31,417 17,009,291 71,855 10,217,383 1918 392,995 301,692,342 399,859 1,219,947,982 210,152,692 71,899 180,217,38 147,016 640.375,409 1939 291,531! 144,130,51l 1,051,215 2,303,077,909k 504,391,986 57,921 32,114,862 229,698' *1,028,878.500 * Includes the approximate weight of 56,486.453 panochas. 8 The American Chamber of Conmmerce Jcairnal August, 1941

A. D. Williams's Philippine Career After 33 years in public works administration in the Philippines, "A. D." takes retirement pay and envisions himself going to his Virginia farm and building and improving things for himself. Alpheus Daniel "A. D." Williams left the Philippines in July on the ss pesident Madison with retirement pay in his pocket and but one more public errand on his mind in behalf of the Islands. This errand will be attended to in New York, at the office of the Insular Purchasing Agent, IH. L. Hershey. With Mr. Hershey, whom Williams highly respects, for a few weeks Williams will help buy P10,000,000 worth of emergency stocks for the Philippines-some P5,000,000 worth of staple food supplies, some P5,000,000 worth of sundries, including certain steels, water pipe and other items not heavily stocked at Manila at any time. After this, it is possible our eminent neighbor of so many years will establish a home at his farm near Culpeper, Virginia. One of his sons* manages the farm, 500 acres including the family homestead that have claimed much out Williams's savings in the Philippines. It is a dairy farm, delivering certified milk mornings in Washington, by truck. The cows are Guernseys and Holsteins. Williams plans to double the herd, meantime rebuilding the house, a colonial structure, and providing a Philippine suite for Philippine furniture shipped down there long ago. Fine pieces of reed furniture comprise parts of the lot. We can readily imagine the wide veranda and sunny sittingrooms in which all this stuff will find appropriate space. For Williams, having largely built the modern Philippines, is at last going to build a little for himself; he left here with the resolution, at least, of putting into the tangible certain dreams he has had of just what the farm should be and just what the house should be. So it was not, this time, just the routine going-away on leave. A. D. Williams has retired from the Philippine public service. His health was the reason he could do this; when he left here his health badly needed building up, and this may involve time. Though he never once admitted it, even to himself, and so it wtas never noticed... good gracious! had he not been doing enough, * The other son is in Texas teaching flying. and times over enough, to wear the best man down? He went away in sore need of rest and change. But probably the next heard of him will not be from the farm, as likely as not it will be from the public service homeside, some spot at Washington. Like other American engineers here, he has a reserve commission in the navy; some of his associates think it may be that. We will write just enough about his Philippine career to give posterity the hint to do more. A graduate of Virginia Polytechnic Institute, with a year's postgraduate work and a year on western irrigation surveys for Washington, he came here 33 years ago as a subordinate in the newly organized irrigation division of the Bureau of Public Works. Governor Leonard Wood appointed him director of the bureau in 1922, when the former director, Jose Paez, was made general manager of the Manila Railroad; and he remained public works director until 1935, 13 years, when, at the outset of his own administration, President Quezon named him a technical consulant to the president, with particular regard to public works. For nearly 6 years, therefore, his place at Malacanan was highly influential, confidential in countless circumstances, and unique. And the population affected is 17 million souls, and the funds expended, hundreds on hundreds of millions of pesos. And never once the lieutenant in the limelight to the hurt of his chief, in 33 years, and these 6 latest of the those years. Let's just see how many chiefs of Williams's during 33 years we can count up (besides cabinet secretaries whose dignity he never once encroached on, and, until 1922, bureau directors): In 1908, Governor James F. Smith; from 1909 to 1913, Governor W. Cameron Forbes; and from 1913 to 1921, Governor Francis Burton Harrison; and from 1921 to 1926, Governor Leonard Wood. But meantime a number of vice governors, in the capacity of acting governors: Henderson Martin, Charles Emmet Yeater. Now come short-termers, we don't even recall their order: Henry L. Stimson, Dwight F. Davis, Theo Alpheus Daniel "A. D." Williams -An inspiring civil engineer whose professional services to the Philippines during 33 years were of the highest order of excellence. dore Roosevelt, Jr., Frank Murphy, and again vice governors, Winship, Hayden, and more, with a persistent contention, sometimes in the open, bound to get men's scalps, and sometimes in the back lots more quietly, prevailing between the executive on the one hand and the legislative element on the other-because the progress of the Philippines under the McKinley policy was always underway, leading toward what came in 1935, the Commonwealth. Dealing with so many men, and drafting and handling large publicworks appropriations every year with an archipelago-wide organization of engineers, and projects numbering in thousands, no single word out of turn from Williams can be remembered. During the 13 years Williams was Director of Public Works (under President Quezon he had office there too, an adviser to the Director), there was the senate of 24 members, under Quezon, and a lower house, under Osmena and later Manuel Roxas, of, we believe, 96 members. Each of these legislators was jealous for his share of the public-works funds; men of great influence had, of course, frequently to be disappointed of their hopes. They were so disappointed, but in a manner marked at once with frankness and politeness that carried no offense. One lone legislator, in all that time, pilloried Williams from the floor of the house. [Continued on page 32] The Amnerican Chamber of Cowimerce Journal August, 1941 9

American Chamber of Commerce of the Philippines DIRZCTORS: S. F. Gaches, Presi E. D. Gundelfinger Robert E. Cecil, Ti P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secr EXECUTIVE COMMIT Samuel F. Gaches, Preside E. D. Gundelfinger, Vice-I Robert E. Cecil, Treasurer FINANCE COMMIT' J. L. Headington, Cha E. Byron Ford Robe] LIBRARIAN S. A. Warner RELIEF COMMITT: Geo. L. Rickard, Cha E. C. Ross A. M. LEGISLATIVE COMM] C. M. Hoskins, Chaii Horace B. Pond Benjamin J. H. Alley A. J. Gi I. A. Perkins E. Byron E. E. Selph BANKING & INVEST] COMMITTEE H. J. Belden, Chair A. D. Calhoun E. E. W E. Byron Ford J. W. 1 ENTERTAINMENT COM E. D. Gundelfinger, Che H. M. Levine E. G. W. P. Lane L. E. J. C. Rockwell H. L. PUBLICITY, PUBLICATI ADVERTISING COMM P. A. Meyer, Chairs C. G. Clifford J. L. SHIPPING COMMIT W. T. Goodwin, Cha F. H. Myers T. C. V. Morton L. ALTERNATE DIRECTORS ident C. M. Hoskins r, Vice-Pres. GM. Ivory reassrer E. Byron Ford A. P. Ames retary COMMITTEES: rTEE FOREIGN TRADE COMMITTEE nt N. H. Duckworth, Chairman Dresident E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meachef TEE E. C. Anderson T. L. Hall airman CORDAGE & FIBER COMMITTEE rt E. Cecil H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Hellis, Chairman EE J. H. Alley G. T. Herrmann:irman M. Igual M. S. Kestler Easthagen MANUFACTURING COMMITTEE ITTEE G. M. Ivory, Chairman (Desiccated rman Coconut) i S. Ohnick G. T. Herrmann (Desiccated Coconut) bbs Herbert S. Frieder (Tobacco) i Ford E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather-Rattan) MENT S. M. Jones (Sugar) J. L. Headington (Buttons) man Reuben Margulies (Embroideries) ing M. S. Kestler (Coconut Oil) dcFerran C. A. Fossum (Lumber) [MITTEE MEMBERSHIP COMMITTEE airman H. J. Belden, Chairman Hoffman William Burrell F. M. Satterfield Moote T. R. Worthen E. S. Turner Suarez G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen [ON AND F. A. McCarthy R. S. Rogers [ITTEE S. S. Schier J. L. Morgan man B. H. Silen.. P. McPherson Headington H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers 'TEE F. C. Bailey G. M. Ivory irman W. J. Bunnell H. Dean Helli O. Myers T. Kevin Mallen A. P. Ames G. Hubele L. M. Hausman H. L. Suarez Build them! Epidemics need fighting? Fight them! Possess your heritage, young Easterner! Leave sheer vegetation of society to the past, and a dead past will bury its dead! There never was a pageant like that! There never was a conquest (so they style it, for want of better words!) flowering so early in liberty! Yes, at one time, when General Chaffee's troups were through at Peking, through with the Boxers, when the regular cast and supernumeraries in the Philippines, playing under America's direction the drama of her own conception, Democracy in the East, numbered more than 100,000 lads. And what lads they were! Not making homes for themselves, but for others; not found. ing peace for themselves-they had peace at home!-but for others; and not winning fortune for themselves espe. cially, but more for others! Prometheuses all! winning from heaven the jealous secrets of the gods for the general welfare of mankind, and in these Islands and on this distant stage of human drama, for Filipinos.... to that moment despised Indios, outside the ambient spirit of the universal church. Now, fewer than 10,000 of these last pioneers on the last frontier remain here. So indeed they were not making places for themselves; thousands came along at intervals, after that first 100,000 in the Aguinaldo campaigns, and the record is therefore that not 1 in 20 of all who undertook the bold crusade, for it was nothing short of that! even had the afterthought of staying here to make homes and contend for work. Even these for the most part were tutors, stepping aside from their habitual means of livelihood when Filipinos could supplant them; they changed, tried new things, when Filipinos were skilled in what was old to them. The story of it all has never been written, there is no space for it here. It is Sandburgian in scope: to write it would employ the energy of a lifetime; and the writer would have to have Promethean vision, and be willing to be chained to his volumes like Prometheus to his crag. A CHANGE REMARKED IN MAN The zenith of individualism seems to have been nearly contemporary with America's occupation of the Philippines. Lamps and candles were yielding the field to electric power plants; backyard wells succumbed to water systems for entire cities, the sources of this water perhaps hundreds of miles away. Model T was but a few years off, Dobbin's stable would soon be a garage. The Wright Brothers would fly at Kitty Hawk in 1903, the world would verify it all in 1908. Applied knowledge advanced further from 1880 to 1903 than in all previous recorded time. Today there can be nothing but intimate interdependence among the members of a people, or say a nation, and interdependence among nations is almost equally clear. It is a paradox then, contrary to reason, that nationalism exhibits in both hemispheres an angry and exaggerated growth. Hitler found it possible to scare the whole German nation, a large and virile nation, into the most deadly battle ranks conceivable. He could say someone was crushing Germany, and find himself believed to the point of the hardest sacrifice, to defy this fancied enemy. They call it mastery of mass psychology. It is of course made easy of achievement because man today is not what man was 40 years ago. Man today is a complex of anxieties, the very sources of which, 40 years ago, did not exist. A threat to an oilfield, hardly known 40 years ago, is a threat to a whole nation using motorcars. A threat to a water source today is a frightful menace to the lives of millions of people in some city or cities getting water there, none of whom have either bucket or bar TRIBUTE TO US AMERICANS Here it is! August 13, 1941! Fortythree years (and Armageddon on the world!) since America ordered up the curtain for the drama, Democracy in the East, the opening scene the occupation of Manila by her troops, some 10,000 boys, mostly western boys. Colossal! The Show of Shows! Among the most challenging chapters ever written by mankind! Think! We really think it surpasses the 16th century Spaniard in Mexico. He went there valiantly-O so valiantly! the great infantryman, that great priest, that great Flanders captain of divisions!-to implant a faith; and he implanted it ineluctably. But these Americans (they came to be 100,000) were so many Prometheuses, bent only on implanting in Filipinos faith in themselves. A farm is to clear? Clear it! A stream is to be canalled for irrigation? Do it! A forest is to yield up lumber? Then here are axes, make it yield! Ores reposited in the pagan mountains need mining? Mine them! Schools need building? 10 The American Chamber of Commerce Journal August, 1941

rel at hand with which to fetch water for themselves from the nearest stream. None knows how to sink a well, or build a cistern. All therefore are frantic the moment they hear from their radios that the source of their city's water is vulnerable to an enemy. It is the same with power, now all electric, perhaps hydroelectric and transported scores of miles to cities that consume it; since if this powler, from mysterious mechanisms the average man knows nothing practical about, were once to fail, no member of any modern household could improvise a lamp, and factories would shut down by dozens and hundreds, entailing general calamity. Even let the telegraph fail, fail too would the day's newspaper. Beset by such gnawing anxieties, man of today lives; and since his fears are terrible, terrible too are his wars. This will last till politics, ever sluggardly, catches up with polytechnics. Heaven knows when that will be. NOTHING ELSE COULD BE BETTER Of course nothing else could be better for American defense in the Philippines and their littoral than President Roosevelt's choice of Douglas MacArthur to command U. S. Army forces in the Far East and his elevation of MacArthur to the rank of a lieutenant general. The largest contingent in the whole command will be the Philippine Army, that General MacArthur created and is supervising the organization and training of; and besides that, and besides even the fact of his superior ability as a military officer, General MacArthur has known the Philippines since his nonage and has ties here that make them practically a second home to him. If it comes to fighting, he is sure to fight doggedly. However, we know he is devoted to peace. That boon cannot nowadays be secured by weakness; firmness in behalf of rights and of desires in international policy is the one possible course that may by-pass war in the western Pacific. It is a part of firmness to make such an appointment. But firmness, on the part of the our homeland, is not synonymous with bluster nor associated with it. Keeping as firm as steel, we perceive a possible move by the United States respecting the western Pacific that if taken immediately might extricate Japan from her irrational association with the Axis powers and win her back to the right side of the sheet. It involves a little work of the amateur, and should be praised, if anything, rather than decried, on that account. Have you perhaps reflected on how much our lives and destinies are affected by amateurs? Our chief activities are work and recreation: we devise all manner of games for exercise, basketball came out of the bean of James Naismith in 1891, a student at the Springfield (Mass.) Y. M. C. A., 20 years after Walter Camp at Yale had begun working over Rugby into football. There are of course scores of sports and games, but we think of only 2 well-known ones in which the rules must have been laid down by professionals, baseball and billiards, Men go professional in many other competitions, but abide by the amateur rules. The peculiar worth of the amateur's services is the freshness of his viewpointthere isn't red tape enough about him to pipe a pair of shorts. But the amateur's skill is ubiquitous, you can find it in statecraft. Here we were about to make selections, but it would be unfair, they would be but invidious comparisons. We suggest that in support of Ambassador Joseph Clark Grew at Tokio, whose ability we esteem equal to that of Charles Francis Adams at London during our Civil war, that Roosevelt search among the universities and choose a Commission to the Western Pacific, the purpose of such a commission being to ascertain actual conditions and men's inner, moving feelings, and submit to President Roosevelt its findings, perhaps with recommendations. To select such a commission, that need not number above 5 members, would be ease itself. America all but swarms with qualified men. It would of course have to be ascertained first that such a commission would be welcome in the countries it would survey, but we think the response would be instantly favorable. But we have not snapped this suggestion out of the air. We recall how well amateur commissions have done special tasks of statecraft for our country right along, at critical intervals. John Adams was concerned with one, that made our first treaties of amity and commerce with Europe. Through another, Jefferson bought Louisiana in 1803. Fiftyfour Forty or Fight was every word of it meant by James K. Polk in speaking for the presidency in the middle '40s, but a special commission ar-. ranged a more southern northwestern boundary between ourselves and Canada and both Downing Street and the White House cooled off. In our Civil war, Lincoln sent Henry Ward Beecher and one or two others to England, who appealed from the platform directly to British public opinion. It is not this type, a speaking commission, that we suggest for the western Pacific now, God forfend! but it was what then was needed in England, for it helped, perhaps decisively, avert war with her. Then there was the Schurman commission to the Philippines, on whose report President McKinley was able to formulate clear views at last and proclaim the McKinley policy for the Islands. If ever a juncture of events called for a special commission, the situation in the western Pacific so calls at this moment. A Refreshing & Healthful FRUIT DRINK LIBBY'S Grapefruit Juice AMONG OTHER Tomato Prune Orange ARE Concord Grape LIBBY JUICES Pineapple Peach Apricot The American Chaniber of 'Conmmerce Journal August, 1941 11

Translation From Dr. Palma Third installment of the late Dr. Palma's commentary on Philippine Economic Progress. NOTE-The translation from the late Dr. Rafael Palma's chapters on Philippine economics, that appeared in our pages in July, brought the narrative down to the Crimean war from the end of the galleon commerce in 1815, a period of more than 35 years during which Philippine ocean commerce was established bolth by the activities of the Royal Company chartered and invested in by the crown of Spain, and by the opening of ports to free international trade and to European residents engaged in commerce. From that point, the narrative below proceeds. "The presence," says Leroy, "of foreign merchants in the Philippines, introducing agricultural machinery and advancing' against growing crops was the chief stimulus to the opening of new lands to cultivation, to the betterment of methods of cultivation, and the preparation of products for market. In truth, one may say unequivocally that certain American and English commercial houses were the means of life to the sugar and abaca industries of the Philippines. And the pioneer work in this respect was done even before the opening of the Suez canal brought the Philippines into intimate contact with Europe by means of steam navigation, when the American influence had begun to decine." The growing prosperity of the foreign mercantile houses was looked upon with envy by the Spaniards, and with the purpose of fostering Spanish commercial interests the Banco Espaniol-Filipino was created in 1852 to provide credit facilities that had been sadly wanting. (Isabel II had other motives in founding what is now the Bank of the Philippine Islands, one was that the bank might administrate the confraternity funds, and might bring together, in the bank, the entities to which these funds pertained.-Ed.) Active exploitation of the country's natural resources raised a natural demand for better means of communication and transportation. On this point Dr. Pardo de Tavera says"The conveniences of commerce sought not by the poor but rather by the power. ful were given attention, for this reason roads and bridges were built and new means of communication were opened. Public security was organized more effectively, abuses were exposed to more public criticism, and came to be fewer in number and less tolerated, the postal service was improved, both Spaniards and other Europeans moved further inland, changing their residences, and Filipinos came in contact with the civilized world, abandoning a long and injurious sequestration, thanks to the play of economic forces." And Leroy says"It was in the decade 1830-1840 under Governor Enrile and his principal lieutenant Pefiaranda that the Philippines felt the stimulus of the construction of roads and bridges and other public improvements of a more general character..." Economic progress during the last century of Spain's dominion over the Philippines brought with it an augmentation )f the population. Buzeta says that in the later years of the 18th century the Philippines' population was 1,552,321, and families subject to the royal tribute were 12,251. By 1808 the population stood at 1,741,034, and by 1845 it was 3,488,258. (Today's Philippine population approximates 17 million. Proportionately, it is believed It is increasing faster than any other national population in the world, and this almost entirely by birth and only negligi AL See the BUG THREE for 1941 MORE ROOM BETTER COMFORT GREATER VALUE Economy? FORD Tleasure? MlERCURY 11 "THE GAME OF A THOUSAND THRILLS" ^i JaiyTi Alai 214 TAFT AVENUE MANILA EVERY ' NIGHT AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM I * 4 BARS * CONTINENTAL CUISINE SPORTS A> * GYMNASIUM Air Conditioned For Your Comfort Luxury? LINCOLN -ZEPHYR "After We Sell We Serve" Manila Trading & Supply Co. Port Area-Manila ( 12 The American Chamiber of Comrnlerce Journal August, 19.41

bly, from the numerical viewpoint, by immligration.-Ed.) The rising production of crops owed to improved methods of cultivation had its effect on the population by increasing the well-being of the people, and so satisfying their requirements; it also raised their standards of living and developed desires in them for luxuries that quickly came to be daily necessities. Nicholas Loney, British vice consul at Iloilo, referring to this phenomenon in that region, said that the prevailing opinion among older people there was that a notorious change had come about in a few years in the manner in which the people dressed, and in the general appearance of the pueblos, owing to the relative facility with which the people obtained articles that either were not formerly imported at all, or had been so d at high prices that but few could afford to pay. The same change came about in the home, in the way of furniture and other articles, and the evident desire to supplement the most necessary things with the purely ornamental. Dr. Pardo de Tavera also mentions the growing facilities for the education of the young, saying: "Filipinos gave proof of their intelligence and their aspirations for their children by sending their sons to Manila to be educated, buying furniture, French mirrors, and other articles of luxury for their homes and their persons, buyi-ng pianos, carriages, and goods imported from Europe and the United States brought conveniently to the Philippines through the activities of foreign trade." France's campaign in Cochinchina was yet another means by which Filipinos came in contact with the outside world. France wished to ally herself with Spain to avail herself of Spain's resources in the Philippines. A royal decree of 1857 authorized the sending of a force of 1500 men from the Philippines to Cochinchina, many of whom were Filipinos, and the French consul in Manila organized a further contingent of 900 Filipinos. These Filipinos had a brilliant share in the war, and consequently when the peace was ratified and France obtained dominion over those vast Asiatic possessions, many of the Filipino soldiers remained there. In summary, Filipinos' economic progress during Spain's sovereignty over the Philippines may be reckoned up as slow and retarded owing to the initial error of establishing an official monopoly over the Islands' commerce; the greatest obstacle in the way of the tapping of the fountains of riches in the archipelago was the galleon commerce between Manila and Acapulco, Mexico, that endured 250 years. Though the Philippine government derived some revenue from this source, the public welfare was prejudiced out of all proportion to such benefits to the treasury. Filipinos in general had not the slightest opportunity to participate in the trade, that favored only a limited element of privileged Spaniards. They remained moribund in their primitive agriculture for want of markets for their products, and continued unchanged in their mode of life, redolent with scarcity and privations, without disposition for further effort than their daily necessities required. Meanwhile, the Chinese who traded with the Spaniards in textiles and oriental manufactures making up the galleon cargoes, furnished Filipinos what they were able to buy in exchange for products from their fields; and with the passing of time the Chinese attained a place as middlemen between Filipinos even for the exchange of products between one island and another and monopolized the retail business that yields such fat profit to merchants who engage in it. Filipinos were left to the management of their fields to provide the necessities for all, but their labor was not sufficiently remunerated for want of overseas markets for their products; they suffered from many abuses and injustices uncorrected or restrained by fault of the political regimen under which they lived. It is true that they never lacked for defenders among the missionaries and occasional high functionaries, but the abuses were not abated, and the Filipinos reverted to indolency and want of initiative and stimulating influences to encourage effort toward a life [Continued on page 41] I Emerson with MIRACLE TONE Model 336 r WALNUT Model 336 IVORY AC- DC Superheterodyne * Standard American Broadcasts and Police * Electro Dynamic Speaker 0 Automatic Volume Control * Inclosed Super-Loop... no outside wiresjust plug in * Figured plastic cabinet, streamline styling; telescoping carrying handle. Model 330 =1 _3W AC-DC Superheterodyne 0 ti{#}tgs~~a~ ~Standard American Broadcasts c; o and Police 0 Electro Dynamic Speaker 0 Automatic Volume Control 0 Inclosed Super-Loop... no outside wires-just plug in 0 Walnut figured bakelite cabinet. Hand-rubbed, polished finish. ABOVE ARE TWO FAVORITE MODELS Many other Models to Select from - WRITE For Catalog and Prices FRESH STOCK eews! errrtcf s of q a li 9 BURGESS BATTERIES L|00 JUS'TFOR RADIOS JUST ARRIVED Sole Distributors F. H. STEVENS & CO. 227 DAVID-MANILA The Acr-ican Chawber of Commerce Journal August, 1941 13

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Staking and Recording Mineral Claims in the Philippines Abridged for the Journal from the original manuscript: by Henry E. Neibert, the author, whose address is In the Hills via Zamboanga, where he is mining. There are 2 kinds of mineral claims, lode mineral claims and placer mineral claims, so designated by law. The manner of location is different for each, and the location notices are specific and mandatory in their directions. To be a beneficiary under the law means strict compliance with the law. Partial compliance is not enough. Personal observation has shown the writer that few mining claims in the Philippines have been staked,with any degree of care; that the Declarations of Location have been made out so carelessly and with such disregard of truth that basis could be found for prosecution for falsification of public documents. Such difficulties have presumably resulted from an almost complete ignorance of the provisions of the Mining act. The act has definite provisions regarding the manner of laying out the claims and the wording to be placed on the notices, that have often been disregarded by both Filipinos and Americans. The important cause of failure to stake properly has been due to the locators not being willing to spend the money to do the job right. It is taken for granted that the mineral in place has been discovered. This is the important thing, called for in Sec. 29 of the act, that reads: "The right to locate a mining claim shall in all cases be based upon the discovery of mineral therein." The first part of Sec. 30 says: "The finding of mineral in place or position where originally formed in the rock, whether assaying high or low, shall constitute a valid discovery for the location of a lode mineral claim." In making a claim location, it is strongly urged that the discoverer should bring with him to his location at least 3 of the most reputable old residents of the locality for an inspection of the ground, who may later be witnesses in behalf of the locator. They should be able to state truthfully that each of them examined the ground on a certain date, and that at that time there was no evidence whatever of any lines having been cut through the forest, nor were any posts or notices observable within the area, and that there was no knowledge of anyone having done any work at staking claims within the area mentioned. It is suggested that each declaration be made out separately, and signed by the declaring witnesses. By following this procedure, much litigation may be avoided, in case the claims turn out valuable-litigation with alleged locators who may aver that their notices were removed and that the posts and mounds set up by the valid locator had been put up by them. Steps to be taken in staking out a claim consist of1. Marking distinctly the line between Posts 1 and 2, and setting up the Discovery Post where mineral is actually in place. 2. Laying out the claim by 2 posts, approximately on the vein, numbered 1 and 2, that shall be 300 meters distant one from the other. This is the Location Line. Posts 1 and 2 should have written on them the name of the claim, the name of the locator, and the date of the location. On the initial post, the direction to Post 2 shall be given, as well as the number of meters claimed to the right and left of the line respectively. 3. In the Mining act there is a distinction between post and corner. The word post has particular reference to the 3 posts put up on the Location Line: the Discovery Post, Post No. 1, and Post No. 2. Corners may be marked by posts, stones, or trees, but the position is designated as a corner and not a post. The original location of a claim is not presumed to require a highly technical survey; all that the law contemplates is that the location shall be made in good faith, as accurately as possible with crude instruments. To get orientation in laying out a claim, a small hand compass will suffice, and for distance, a 50-meter steel tape. If a claim is believed to be really good, it is urged that a rough topographic survey be made, indicating the streams, the top, or ridge, etc., that may be tied into the points of location. Attention to complete detail shows good faith in acts of location; and in conflicts and disputes, when the topographical features show, the umpire is much influenced The place is near the top of the pit at the Placer Gold Hydraulicking Plant of the Curuan Mining Co., Curuan, Zamboanga. The spray from the giant shows in the left background; and the pipes show along the border of the deep gravel pit. Mr. Neibert's likeness is on the right in the picture; on the left side is the younger Mr. Fleshman, a member of the mining company operating there. Th,; Anierican Chamber of Commerce Journal August, 1941 15

thereby. An experienced mining engineer has declared, "In staking, a man cannot be too accurate or collect too much information. If the claim turns out to be valuable, every means will be taken by rival parties to get possession of it and try to prove that good faith was not shown in staking it, and it is then that detail and tabulated information count on the Declaration of Location." Sec. 44 of the Mining act reads: "The Location Line shall govern the direction of one side of the claim, upon which the survey shall be extended according to the provisions of the act." At right angles to the Location Line from Post No. 1, the distance to the right is measured as shown by the notice, and the position of the corner is marked at that point. Correct notations should be made in the field book of all data to make out the later Declaration of Location. The corner should be located by bearing additional to some natural object. If a stone is used for the corner, a cross should be placed on it; and if a post, its size and length should be noted, as well as the mound around it. Similar procedure is then followed to the left of Post No. 1, the distance corresponding to the notice on it, and the corner likewise marked as described. Similar corners are located to right and left of Post No. 2; each corner must have its proper notice. The ground now included in the claim will be the boundary lines extended vertically downward, provided that trees shall be blazed along the boundary lines by clearing or marking the same with other readily distinguishable signs, as provided by law. In Figure 1 a rough sketch is presented of an imaginary claim and suggested location. The law says that all measurements must be horizontal irrespective of the lay of the ground. The crude way to put notices on posts and corners is to cut a flat surface on the posts themselves and write the necessary notices on with pencil or crayon. Then galvanized iron sheets lettered with black paint may be used instead, or white duck cloth, coated with varnish. Sometimes a bottle containing the record is buried at the bottom of a location posthole, for more positive identification. The Declaration of Location is a printed form with space for giving information in regard to post locations, corners, size of posts, depth set in the ground, the diameter and height of each mound, marks placed on trees, the wording on each post,,', pOST No.l deemed to have been abandoned. The regular form for the Declara. tion of Location, both for lode and placer, provides for 4 corners only. Where there are more than 4 corners, it is necessary to buy another form for that specific purpose. If this special form cannot be obtained, cor. rect information can be made out with a typewriter (or by hand, Ed.), but it is always preferable to be pro. vided with the right form in advance, from the Bureau of Mines in Manila. On the closing leaf of the form there is space for an affidavit, to be executed before a notary; otherwise the mining recorder must refuse to accept the declaration for record. If the facts sworn to are not true, it is perjury subject to heavy penalty under the penal code. Furthermore, if the claims are "staked on paper" and recorded, even if the work on the ground is done later, procedure has not been according to law; in any subsequent dispute over ownership, it is believed that the courts would rule against the fraudulent locator. Field records should be made and kept in a good well-bound field book, and all pertinent data should be entered immediately, without reliance on memory. The mandatory provisions of the Mining act for staking and locating placer mining claims differ in many respects from what is required for staking lode mineral claims. The shape of placer claims may follow the meanderings of stream, or may be approximately rectangular if the claim extends beyond the banks of a stream. There is no limit to the length or width of a placer claim, but its total area must not exceed 8 hectares for an individual, 64 hectares for a corporation. Each placer location must have posted somewhere on the claim, what is known as the Main Placer Notice. This must state the name of the claim, designated as a placer, the name of the locator, the date of the location, the number of corners of the claim, and the number [Continued on page 181 Fig. I Layout of a Hypothetical Claim As the dip of the vein is toward the right of the location line, the greater portion of the surface of the claim must also be to the right, hence 288 meters have been laid to the right and only 12 meters to the left. corner, etc. If the locator has done his job right, this document is not hard to fill out. Ten copies should be made for each separate location. The original is filed with the mining recorder, as well as the most legible copies. When the recorder has signed the declaration and placed his seal on it, the claim has been legally recorded. According to law, the claim that is not recorded within 60 days from the date of location, shall be I JUST LIKE FINDING MONEY Be Oil Wise.... Use PENNZOIL! Here's a new easy way to save money: Get Pennzoil with its extra margin of safety that cuts driving costs right to the bone! With non-lubricating elements completely removed, Pennzoil permits valves and piston rings to work freely. You get better compression, more power, and big savings on oil, gas and repairs. Distributed by MARSMAN TRADING CORPORATION Port Area, Manila Telephone 2-48-11 - 16 The American Chamber of Cnommerce Jourl"al August, 1941 (

LI OXY-ACETYLENE - I The Amateur Investor was whistling cheerfully as he came into the Engineer's office. It was evident that all was right with the world and the Engineer remarked accordingly as he greeted him. "Yes," said the Investor, "things are going pretty well. That Lilibulero mine of ours is going to town. The 100 level is still in good ore and the crosscut that we drove where you suggested has cut some high grade. In fact, the outlook is so encouraging that our board has decided to order a compressor and some drills right away." "I think that's warranted," the Engineer agreed. "Have you decided where you will place the order?" "Just about," returned the Investor. "One of our directors is acquainted with the salesman for the Colossus Rock Drill Company, and the young man came up to see me yesterday. He seems to be exceedingly well informed and gave me a lot of splendid information about his company's line which practically dominates the field. His company simply doesn't recognize any competition. Colossus drills are characterized by rugged construction, low air consumption, tremendous hitting power. They hold all records for fast drilling and are the favorites of miners all over the world." "They should give you a job on the sales end," grinned the Engineer. "Well, it's true," argued the Investor. "That's what it says in the catalog." "The Colossus Company makes a good drill," acknowledged the Engineer. "Whether it's the best on the market is debatable. But don't let them tell you that the line is so good that competitors give up without a fight. There are several other good drills, among them the Invincible, that has made a pretty good record at the mines. I think you ought to give them a chance to talk to you at least." "All right," said the Investor somewhat reluctantly. "Whom do I see?" "Just call up the company," said The Amateur Investor Buys Some Mining Equipment L Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. I I ENGINEERING EQUIPMENT AND (INCORPORATED) SUPPLY CO. Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal MACHINERY AND SUPPLY DEALERS Agitators, Thickeners Air Conditioning Equipment Aluminium Castings Babbitt Metals Ball Mills Belt Hooks Blasting Supplies Blowers, Drill Press Bronze Bushings Cable Clips Carbide Lamps Centrifugal Pumps Chains, Winches Crushers, Screens Circular Sawmills Compressors Concentrating Tables Concrete Machinery Concrete Vibrators Conveyors Cutting Machines, Contour Steel Diesel Locomotives Dredges of all kinds Drill Steel Drilling Machines Duplex & Triplex Pumps Electric Motors Electric Tools Electrical Apparatus Explosives Fire Fighting Equipment Flotation Cells Gasoline Engines Generators Grinders Hacksaw Machines Hoists, Chain & Electric Hoists for Dump Bodies Leather Belting Logging Blocks Logging Equipment Magnetic Separators Marine Diesels Mechanical Packing Melting & Tilting Furnaces Mine Hoists Mine Wood Tanks Mineral Jigs Mining Picks Mining Shovels Nautical Instruments Oil Burning Equipment Outboard Motors Pil'e Hammers Pneumatic Tools Power Boats Precipitation Equipment Propellers Punches, Shears Recording Instruments Refrigeration Equipment Road Rollers Rock Drills Rotary Filters Saws, Sawteeth Shapers, Lathes Sheet Metal Tools Shovels, Buckets, Cranes Stationary Diesels Steel Tanks Stuffing Boxes Surveying Equipment Thermometers Trolleys Truck & Mine Scales Turbine Pumps Tubular Boilers Vacuum Pumps Valves of all kinds Vee-Belts Water, Oil & Gas Meters Welding Equipment Welding Rods Woodworking Machines Zinc Dust 1 The American Chamber of Commerce Journal August, 1941 17

the Engineer. "They'll do the rest." "I'm amazed and horrified," said the Investor a few days later, when he saw the Engineer, "that a young man who appeared to be as candid and honest as that Colossus representative could have unblushingly have told me so many untruths. Why, I wouldn't consider having one of his poorly designed, weakly built, wasteful, power-consuming drills in my mine. The drillmen would probably quit in disgust before they would attempt to operate a Colossus drill, and if they didn't our company would be bankrupt trying to keep enough spare parts on hand to get a shift's work out of them. No, Mr. Engineer, we are going to lay in a complete line of Invincible machines." "I take it," said the Engineer, "that you must have mentioned inadvertedly to the Invincible man that you were contemplating installing Colossus equipment and he pointed out to you that it would be a deplorable error to do so." "Precisely," said the Investor. "He didn't deny that the Colossus had managed to get a few of their machines into the mines, entirely by high pressure salesmanship and more or less unethical methods. But whenever an Invincible drill was matched against a Colossus in a fair competitive trial, there was only one result. He had the performance record of his drills in dozens of mines and they outclass them all. And as to repeat orders-dozens of them. That's the real proof of superiority, isn't it?" "Not necessarily," said the Engineer. "I haven't the slightest doubt that the Colossus salesman could have shown you the same thing. Once a mine puts in a certain manufacturer's line, they like to standardize on it. The men get used to running it and the company doesn't like to carry spares for two different types of drills if they can help it. So they send in repeat orders, more as a matter of convenience than endorsement, provided of course, that the drill gives satisfactory service. You won't go far wrong in buying either a Colossus or an Invincible." "I saw the Colossus saleman again," said the Investor the next day. "Perhaps I was wrong about him. He told me confidentially that the Invincible salesman had deliberately stolen business from him time and again by distorting facts and conveniently forgetting to recall the numerous times that Colossus drills had won drilling contests against the best Invincible machines, and he had clippings to prove it. He said he was getting well fed up with the unethical conduct and selling methods of his competitor and the next time he saw him he was going to use the only sort of argument he could appreciate, and in his own words, he was going to beat his block off. As I remember it now, the Invincible salesman also said to me as he left, that it was a pity that selling couldn't be done along fair and honorable lines, without exaggeration or misrepresentation, and if he met a certain competitor who had been knocking his drills, he would proceed to wash him up on sight. I certainly hope those two young men don't meet. Something ought to be done about it." "Well, the boys both want your order," said the Engineer, "and I guess they're not pulling any pun. ches. If you want to go over to the Club, I'll buy a nightcap before we go home." The Investor ratified this amiable offer, and together they walked over to the College Club and entered the lounge room. Within there was indeed a sound of revelry by night. Grouped around the piano were half a dozen carefree young men giving vociferous encouragement to the one who was industriously picking out dubious harmony from the ancient instrument. Steins in hand, all were joining in the refrain with heartfelt accord"If I had a million pesos, I'd call up the boss and say, I'm leaving the Islands tomorrow, 'Cause there ain't a boat sailing today." "My God!" gasped the Investor, "there they are!" "Who?" inquired the Engineer. "Those two rival drill salesmen," said the Investor hoarsely. "Those two young men who were going to tear each other to pieces next time they met." It was indeed true. Arms draped affectionately around each other's shoulders, the two bloodthirsty competitors were putting their hearts into a fair job of harmonizing with results satisfactory at least to themselves. "Must be Armistice Night," remarked the Engineer, as he and the Investor tiptoed away to the bar. "And I thought they were sworn enemies," said the Investor bitterly. "They're classmates, from the same engineering school," said the Engineer. "In fact, they're both Pi Etas." "How do you know?" asked the Investor, now thoroughly disillusioned. "Easy," said the Engineer as he signed the chit. "You see, I'm a Pi Eta myself." Staking and Recording... - - LOVSTED PRODUCTS FOR PHILIPPINE INDUSTRIES MO-LO Piston Ring Bushings, Solid Rounds and Cylinder Liners. TIGER BRONZE Bushings, Solid Rounds and Solid Hexagons. TIGER BRONZE Mill Bearings, Locomotive Bearings, Car Journal Bearings. LOVSTED Babbitt Metals & Solder "Pioneer Nickel" Babbitt "Armature" Babbitt "Railroad" Babbitt "Anti-Friction" Babbitt Guaranteed 50/50 Solder Guaranteed 40/60 Solder CUMMINS-Diesel Engines. BUCKEYE Diesel Engines. STEEL BUS Bodies, Lindsay Structure. RAILROAD Equipment and Cars, Track Materials, Car Springs, Wheels. TRANSMISSION Equipment, Roller Chains, Sprockets, Gears, IXL Speed Reducers, Pillow Block Bearings. TOOTS-E Signal Systems, for Mills, Mines, Loggers. 1 Continued from page 16 C.M.LOVSTED & CO. (MANILA) LTD. 215 Thirteenth Street, Port Area, Manila of hectares claimed. Corners must be marked distinctly, and notices on corners must be inscribed with a series of consecutive numbers, in clockwise direction. (Note: The Neibert Ms. from which this abridgment is made is, we believe, intended by Mr. Neibert for publication as a text in the Philippines on the subject covered.-Ed.) P. 0. Box 1193 Phone [phone] The American Chamber of Commerce Jowrnal August, 1941

The Stock Markets By Ovejero & Hall MANILA-July 15th It is said that Bear Markets do not last forever, and it currently appears as if the local market is seeking to prove it is no exception to this old saying. For the past month or two it has been showing all of the signs that the major downtrend which commenced at the end of 1936 has finally flattened out and turned upwards. Historically, the maximum duration of depressions in the economic sphere is accepted as four and half years. During this period of time, the causes of a decline manage to eradicate themselves leaving the way clear for a change in direction. The long downtrend here was the inevitable aftermath of the 1936 speculative boom, the liquidation of which has been protracted beyond the usual period. This is probably a result of twice having resorted to price pegging and other panaceas which merely result in prolonging the necessary period of readjustment, which can never be avoided. The outbreak of war between Russia and Germany during the month was interpreted bullishly by local investors, and since then prices have worked higher despite occasional profit taking. Activity has increased to a marked degree. Total number of shares traded from June 16th to July 15th inclusive amounted to 115,619,095 shares valued at P3,278,675 compared with 27,946,707 shares valued at P2,102,530 the previous month. As in the past two months market leadership has been in Mindanao Mother Lode. The June production figure for this mine is worthy of special mention with 6,950 tons milled, production reported was P703,842. The average recovery value, we believe, sets a new record for a Philippine Gold Mine. The following are today's closing quotations as compared with a month ago in the nine active issues: June 14 July 15 Change of hostilities between Russia and Germany which was interpreted bullishly. While the rapidity of the German advance has subsequently induced profit taking and hesitation, closing prices have registered a moderate advance over the month on expanding activity. During July 8th and 9th more than a million shares were traded in each session for the first time this year. Market fluctuations as registered by the Dow Jones Industrial and Rail Averages have been as follows: Jtne 1 High Low July 15 Changr Industrials 122.04 128.19 121.95 128.19 + 6.16 Rai ls 28.81 29.64 27.93 29.64 + 1.88 The dominant near term market influence is the Russo-German conflict. The weight of expert opinion has tended to believe that Russia, is unable to resist the German Army and that the latter will secure a quick victory. Development thus far indicate that this may not prove such an easy undertaking, and tangible Rus[Continued on page 2S] I — ~ ~~~~ ACCLAIMED BY EVERY INDUSTRY "The Ultimate in Efficient Transmission" GENUINE TEXROPE DRIVES Texrope Drives are positive, silent and slipless. I Short, centers, besides re-. quiring a minimum of space, result in a maximum utilization of power. Being, flexible, they do not transmit vibration but are shock absorbing and a protection for the motor. But most important of all, it is practically impossible for a Texrope Drive to break down. Even in the event of one of several belts failing, the machine can be operated with the remaining belts until it is convenient to make a replacement. Acoje..................... Atok Gold................. Benguet Consolidated.... Itogon..................... IXL................... Lepanto lasbate Consolidated...... Midlanao Mother Lode.... Surigao Consolidated....... United Paracale........... 160 32 3.10 171/ 22 171/2 9 311/2 21 151/2 19~ 35 3.20 181/, 22 181/2 91/4 371/2 18/2 17 +3 + 3 + 10 + 1 Unch. +1 + 1/ + 6 - 21 + 21/2 THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines NEW YORK-July 15th P. 0. Box 282 Tel. 2-32-13 Cebu Bacolod The outstanding development during the past month was the outbreak he American Chamber of Commerce Journal 4sUynlst, 1941 * b 19

Producing Mines Statistics in Graphic Form By Ovejero & Hall Records shown on the accompanying charts are for 1940. complete and for the first 6 months of 1941. The upper half of each graph shows tonnage (unshaded) and value (shaded). In the lower half of each graph is shown the average pesovalue of the ore being worked. IXL MINING CO. NORTH CAMARINES BAGUIO GOLD BIG WEDGE IPO CAL HORR EAST MINDANAO SURIGAO CONSOLIDATED 11w001fltfrl tr — BKt --- 1,00

SUYOC COCO GROVE DEMONSTRATION 'QS fo: i- 1 1 / L MINE OPERATIONS CAPSAY PARACALE GUMAUS zoo! - z2ooC -r\ r The Mining Industry-Tabulated Statistics Courtesy-Chamber of Mines of the Philippines MINES MAY 1941 JUNE 1941 TOTAL PRODUCTION CAPITAL DIVIDEND Tonnage Value Average Tonnage Value Average 6 months 1941 6 months 1940 nthnrized Paid Up 1941 1940 Antamok Goldfields 19,556 P 208,576.64 P10.66 19,287 P 250,553.29 P12.99 P1,314,557.65 P1,217,201.57 P 3,000,000 P 2,750,000 - - Antipolo 771 27,164.25 35.23 706 30.395.59 43.05 171,43,9.33- 1,000,000 417,192 - - Baguio Gold 12,895 201,685.78 15.64 12,200 197,254.70 16.17 1,173,688.18 942,361.14 2,000,000 1,299,950.02 - Balatoc 67,600 1,172,496.20 17.34 65,510 1,195,169.40 18.22 6,899,666.04 6,622,776.02 6,000,000 6,000,600.40 - Batong Buhay 4,461 158,325.22 35.49 4,319 146,295.63 33.87 876,859.16 2,000,000 1,661,703 - - Benguet Consolidated 41,062 927,965.26 22.59 39,868 923,705.62 23.17 5,405,854.40 5,430,149.17 12,000,000 12,000,0040.30 - Benguet Goldfields 1,536 22,258.00 14.48 1,585 23,649.00 14.92 167,031.23 322,436.11 200,000 200,000 -.005 Big Wedge 4,865 238,554.60 49.03 4,530 192,275.52 42.44 1,181,826.06 924,624.08 2,000.000 777,692 02 Cal Horr 6,332 123,666.07 15.51 6.290 98,247.84 15.62 703,018.65 675,174.28 Owned by Benguet Cons. - - Capsay 7,975 68,089.78 10.75 5.312 72,807.88 13.71 377,667.80 450,057.00 300,000 175,000 - Crown Mines 729 9,277.00 12.72 840 10,147.00 12.08 39,157.51 57,407.03 1,000,000 636,000 - Davao Gold — 2,922 75,030.58 25.68 75,030.58 80.000 80,000 - - Demonstration 5,225 73,532.00 14.07 4.705 71,826.00 15.27 430,507.98 257,414.28 1,000,000 1,000,000 - - East Mindanao 6,038 91,777.41 15.19 5,740 93,142.93 16.23 542,584.07 358,469.32 1,000,000 1,000,000 - - Gold Creek 1,018 24,279.35 23.85 1,365 33,633.91 24.64 117,350.84 1,000,000 700,000 - Ipo Gold 5,044 44,966.26 8.91 4,900 58,767.57 11.99 291,467.18 426,253.85 1.000.0nn 819.794 - - Itogon 28,962 505,859.25 17.46 27,232 494,824.10 18.17 2.870,560.83 2,577,082.56 2,500,000 2,500,000.02 - l. X. L. 13,508 247,840.56 18.35 13,214 223,813.18 16.q4 1,469,515.54 1,531,974.64 1,500,000 1,500,000.02 -- Layog - ---- - 1,313 10,982.76 8 36 10,982.76 - - Macawiwili -- - 224,143.25 -- - - Shevlin (Mapaso) -, 70 500.00 7.15 500.80 --- - -- Masbate Consolidated 113,929 572,147.22 5.02 98,983 521.547.96 5.22 2,2'6.187.64 2,167,090.75 5.000.0n0 5,000,000.01 - Masbate Goldfields (Aldecoa) 170 3.269.40 19.05 195 2.725.64 13.98 10.330.92 -- 500,000 164.080 - - Mayon Mining 1,769 30,856.15 17.44 1,501 29,796.70 19.85 180.644.91 100,000 100,000 - - Mindanao Mother Lode 7,446 563,947.00 75.73 6,956 703.842.0N 101.1 2.237.177.02 2,000.nnn 2,000.000.01 Mineral Resources 3,109 37,180.69 11.95 3,469 33,208.65 9.57 275,013.08 166.482.56 2.000.000 1,351.920 - - North Camarines 3,204 71,825.95 22.42 3,137 70,455.19 22.46 476.465.39 1,015,425.70 1,000,000 995,802 - - Northern Mining 2,333 57,115.61 24.48 2,281 54.434.04 23.86 330.658.30 295,453.46 1,000,000 840,041 - - Paracale Gala (Gumu Gold) ' 19.280.44 19,280.44..- Paracale Gumaus 6,654 164,427.00 24.71 6,24!3 145,621.56 23.33 972,661.46 801,266.52 500,000 500,000.04 Paracale National 1,004 17,402.15 17.33 1.219 25,813.44 21.18 121,623.15 1,000,000 959,165 - - San Mauricio 16,677 448,751.28 26.96 16.004 407.200.53 25.44 2,622.785.13 3.123.16f9.67 2.000.000 2.000,00n.015 ~ Santa Rosa 6,027 132.126 22 21.92 5,907 128.744.20 21.80 670.582.79 379,042.16 1.50n.0 1,500.000nn - - Surigao Consolidated 12,120 247,500.00 20.25 11,237 234,400.00 20.86 1,392,709.00 921.200.08 1,200.000 1,023,400.02 Suyoc Consolidated 7,870 187,781.16 23.61 7.991 189.489.46 26.1 1.106.132.77 965,364.27 1.250,000 1,250.000.01 - Treasure Island 7,715 188.577.00 24.44 7.272 199.611.88 27.45 1.260.421.52 546.403.80 2,500 sharps 66,940 - - United Paracale 11,025 291,046.82 26.39 11,133 294,350.34 26.44 1.745.732.66 1,566,744.40 1.300,000 1,300.000.02 - PLACER Coco Grove 323,080 143,220.06 0.44 333,470 116.624 10 0.35 799,620.23 603,007.52 1,500.000 1,500.000.01 - Mindanao Mining - - 82,490 24,885.52 0.30 24.855.52 - - - North Mindanao - - -- 10.000 13,460.68 1.35 13.460.68__ - - Tambis 31,936 14,007.00 0.44 32.676 13,335.00 0.41 91.589.60 400.000 390.643 - _ R ASE METAL -.epanto 13,520 283,222.89 20.93 12.843 285,297.04 22.21 1.592.539.13 1.140.225.17 1,750.000 1.050.000.01 - Ilxcbar 3,496 122,235.44 34.96 2.428 106.734.10 331.73 805.457.40 293,553,85 600.00n 274.360.03 rnqnolidnted Mines 12,500 150,000.00 13.60 9.600 115,200.00 12.00 778.800.00 5.000,000 4.121.246 - - Since 1929 the United States has pro- material for national defense by the Army cutting metals. The admixture of tungsten duced only about half the tungsten its in- & Navy Munitions Board, and restrictions in these alloys is but 2%, and if you will dustries require. During this period, too, have been placed on tungsten exports. read Thurman Arnold in Reader's Digest there has been a tariff on imported tungs- Steel alloys containing tungsten retain for July you will learn why Germany is abundantly supplied with these tungsten ten ores and concentrates equivalent to 50 hardness and temper even at dull red heat, a an A i v so o tem alloys and America is very short of them, cents per pound of the tungsten content. hence tungsten is indispensable in the ma- though we may assume she is bettering her The metal has been designated a strategic nufacture of high-speed tool steel used for position in this respect every day.

Leslie Bruns, chief geologist at Itogon, is recovering in a Manila hospital from an operation, and will shortly return to bis position. * * * Wendell Fert.g, until recently general superintendent at Samar for the Elizalde interests, has advanced in the U. S. Army. Now it's Major Fertig. * * *i Pb PLYMOUTH LOCOMOTIVES DIESEL, ALCOHOL, GASOLINE FROM 2/2 TO 35 TONS 132 PLYMOUTH LOCOMOTIVES IN OPERATION IN THE PHILIPPINES 132 SATISFIED OWNERS Sole Agents KOPPEL (PHILIPPINES) INCORPORATED a W. F. Boericke and N. N. Lim of the Bureau of Mines, were in Baguio on professional work. * * * J. B. Stapler of the Marsman Company has returned from the East Indies. * * * Ralph Marsden, acting chief of the Geological Survey of the Bureau of Mines, is making a prolonged trip to the Palawan group of islands. * *, R. D. Wynne, one of the best known mining men of Surigao, who for the last few years has been prospecting in New Guinea and Borneo, has returned to the Philippines for service with the Army. * * * George Goodier, formerly at Mapaso is now mining coal in Mindoro. * * e George H. Miller, chief of the Safety division of the Bureau of Mines, and W. F. Boericke, visited the Acoje Mine in Zambales. * * e E. Montilla, who has been interested in the Southern Mining and Development Company of southern Surigao, conferred with J. Fife regarding plans for developing the property. * * * J. L. Fleming, mine superintendent of Balatoc, has been seriously ill in a Baguio hospital. * * * J. W. Brady is now in the new Bir Wedge mill, having been transferred from underground work in the same mine. * *.iC J. B. Harrison, general superintendent of Surigao Consolidated Mining Company, has been in, Manila to meet his wife who returned by Clipper from the United States. * * * L. D. Hubbell, who has been at Balatoc for over a year, sailed with his family for a vacation in the United States, where he will remain in Berkeley, later returning to the Philippines. * * ~R T. Jurika, in charge of operations in Bohol for the Luzon Stevedoring Company, has been in Manila for business with his company. * * * Raoul Bergman, general superintendent of the Santa Rosa Mine in Paracale, is spending his vacation in Manila, and will make the Southern Islands trip with Mrs. Bergman. * * * Major J. H. Stevenot, identified with the successful work at the Treasure Is land Mining Company, has returned by Clipper from the United States. * * * Paul Schaefer, chief geologist for Balatoc, read an important paper on geology of that mine before the Baguio section of the AIME on July 11. At this meeting, which was largely attended by I LOI LO MANILA C E B U 22 The American Chamber of Commerce Journal August, 1941

local mining engineers, the following were elected officers; R. L. Lile, chairman, J. S. Peterson, and Ward Graham, vice chairman, and B. C. Elsley, secretary-treasurer. RH. H. Sherk, mine supeilintendent at Suyoc Consolidated, took the usual postman's holiday in Baguio, when he visited Big Wedge as the guest of Douglas Strachan, inspecting the new developments on the Keystone vein. * * * J. Scheer is superintending the construction of the new mill at the Antipolo mine in Batangas. Carl Huhes, a mining engineer of wide Carl Hughes, a mining engineer of wide experience in the Pennsylvania coal fields, arrived by Clipper from the United States to take the position of supervisory engineer of coal operations for the National Development Company. Mr. Hughes will be stationed at Cebu or Malang'as. The Stock Markets... Continued from page 19 REMINGTON CUTLERY A complete line of POCKET KNIVES, KITCHEN KNIVES, HUNTING KNIVES, etc. America's Finest E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 A sian successes could easily set off a good rise in the market in its present strong technical position. Of almost equal importance marketwise, is the new Tax Bill, with latest reports to the effect that it may be expected during the early part of August. It is also anticipated that specific proposals as to price, wage, and rent controls will be laid before Congress in the near future. Little by little, therefore, investors will be better able to gauge the outlook for stocks as Official London and Washington circles now incline to the long war view point. To revert to the market action over the past month, it is to be noted that with the exception of the Auto & Auto Accessory Groups, almost all sections of the market participated in the advance. Possibly the Oils fared best, but Rails, Steels and Aircrafts were also in demand. As regards the technical position, ever since the top of the market was reached last November at 138.12 for the Industrials and 30.29 for the Rails, every rally up to the present one has fallen short of the immediately preceding top. During the recent rise, the Industrials bettered their April highs of 124.65 but the Rails have so far fallen short of their corresponding mark of 29.75 by 11 cents. Should the latter push through, accompanied by expanding activity, it would be decidedly bullish, and would indicate the likelihood of a full bull market confirmation in due course. The Homestake Mine The Homestake Mine at Lead, South Dakota, was discovered on April 9, 1876. Since incorporation with others, November 5, 1877, as the Homestake Mining Company, it has become "the greatest gold mine in the world." Since 1932 a gigantic 3-compartment shaft, 13 x 19 feet, has been sunk 4/5 of a mile deep. The company's 557 lode claims have 75 miles of narrow gaugetrack underground, and 20,000 electric lights in continuous service. The milling plants require 7,000,000 gallons of water every 24 hours. From 1876 to 1936 the mine paid dividends of $97,062,202 and added $321,508,038 to the world's supply of gold and silver. -Dictionary of American History: Scribners. L Savings! Profits with Fairbanks-Morse Two Cycle Diesel Engines AIRBANKS- MORSE Diesel power instal-... lations are contributing. to the success of Philip-.. pine industry. The record of every FairbanksMorse Two Cycle Diesel plant shows savings realized and profits at- tained. ET the benefit of Fairbanks-Morse experience in the manufacture of Diesel units. Enjoy dependable, continuous performance and notable economy with Fairbanks-Morse engines. Pacific Commercial Company-Distributor The American Chamber of Commerce Journal August, 1941 23

Here's how to get Manilas, Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! List of D i strib ut or s furnished upon request to 0 1 I I R I Dictionary Of American History On the day we got this set, 5 volumes with a separate index volume, Arthur Menken, the news photographer, newswriter, Paramount newsman, and platform lecturer was in town-wondering whether Santo Tomas University is really the oldest university under the American flag. Someone had suggested that something in St. Augustine, Florida, might be older, and had asked us what we knew about it. Duck soup! For these precious books from Scribners needed only to be unwrapped and put to service. St. Augustine was founded the year Cebu was, 1565, by Pedro Menendez de Aviles, whose business was the driving out of French Huguenot settlers and not the founding of schools. The Jesuits who came along, and might have founded schools, went back into Mexico in 1571. The one Dominican who got into Florida, Luis de Cancer, was martyred immediately, 1549. Later missionaries, more successful, were Franciscans, and the founding of universities did not fall within the purview of their work. In the English colonies, Harvard did not come along till 1636. Santo Tomas is first. A triviatum, but how much of the pleasure of our reading hours is made up of triviata. Charles M. Cotterman came in to admire the books, and we handed him down the volume where he could find Nebraska, state of his youth and early manhood, state where his farms are. Presently we heard a "Hum-m-m-mr!" from him, very typical, starting high and trailing off lower, a kind of animal-cry of satisfaction. And what was it all about? A sheer trifle, but one he had forgotten, when he should have remembered: it was some fact about a change, in early years, of Nebraska's boundary. "I should have remembered that!" he said. "Now I recall it well." And he a veteran railway-mail clerk. But Scribners and Dr. Adams and the managing editor, Dr. R. V. Coleman, and their imposing advisory council * have not compiled in these volumes little matters like that, except as detail. In fact, they have not compiled the volumes at all, in the ordinary conception of the term. They have had each article written by a specially qualified contributor. These contributors number more than 1,000 of the leading living historians of America, and their contributions comprise 6,425 distinct papers, duly signed, with a bracket of further references below each principal one, that is to say, be low thousands of 'em. For example, the subject Florida is right here at hand. The state history is by W. T. Cash. British Florida is by Kathryn T. Abbey. French Florida is by A. J. Hanna, and Spanish Florida is a further paper by Mrs. Abbey, while our own Dr. James A. Robertson (employed by Florida to write her history since he left the directorship of the National Library here) writes on the Spanish missions in Florida. What the editors and publishers have done has not been loosely to compile this golden material, toss it together like the sheaves of a shock of wheat, but rather to collate it so that it all fits as snugly together as a mosaic and is a veritable delight to the eye as well as the soul. For here is the vitality of America from her beginnings down to date, as readily accessible as it could possibly be made. Aside from the index, cross references are faithfully inserted; you may as suits you, read as thoroughly or as casually as you like; while of course, what you do read is encyclopedic and not opinionated. You have here a dictionary of your country's history, beginning with the A. B. Plot and ending with the Zunii Indians of New Mexico. For our part, we'll soon find out about both, for at this moment we know next to nothing about either. But Copperhead, now. When that epithat flashed from the White House, about Charles Augustus Lindbergh, whose father [Continued on page 33] * Advisory Council: Randolph G. Adams, Director, William L. Clements Library of American History, University of Michigan. Paul M. Angle, Librarian, Illinois State Historical Library. Eugene C. Barker, Professor of History, University of Texas. Theodore C. Blegen, Professor of American History, University of Minnesota. Herbert E. Bolton, Sather Professor of History: Director of the Bancroft Library, University of California. Julian P. Boyd, Librarian, Princeton University. Solon J. Buck, Director of Publications, the National Archives. Carl L. Cannon, Associate in Bibliography, Brown University Library. Christopher B. Coleman, Secretary, Indiana Historical Society. Dixon Ryan Fox, President, Union College; President, New York State Historical Association. Douglas Southall Freeman, Editor, the Richmond News Leader; President, Southern Historical Society. Wm. Starr Myers, Professor of Politics, Princeton University. Allan Nevins, Professor of History, Columbia University. Milo M. Quaiffe, Secretary, the Burton Historical Collection, Detroit. William W. Sweet, Professor of the History of American Christianity, University of Chicago. Robert W. G. Vail, Director, New York State Library. Malcolm G. Wyer, Librarian, Denver Public Library; Director of Libraries, University of Denver. The great House of Scribners puts out the crowning current reference work on America's past, 3 centuries of it, under the editorship of James Truslow Adams and the authorship of more than 1,000 eminent contributors: 5 copious volumes and an index. PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Product4 "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;..." 24 The American Chamlber of Commerce Journal August, 1941

L( and Sta P4.00 I For Subsc $3.00 Curren Subscl 'A Single Copies: Unites: per year reign, //7WALTER ROBB ription: Editor and U. s. Manager icy, per ription August, 1941 Vol. XXI, No. 8 Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things Hilton Carson, dean of automobile salesmen in the Philippines, has accepted the post of manager of Pacific Motors, 827 calle Hidalgo, where he took charge of his desk July 15. Pacific Motors has the Philippines for Chevrolet, both cars and trucks, an agency formerly held by Pacific Commercial, with whom Skipper Carson worked for many years, and was, in recent years, managing their usedcar department. What with drouth, what with accident, and what with extraordinary demand, Manila has recently been short of electric power. Four weeks ago (repairs will have been made before this reaches the reader), lightning struck a large generator at the steam plant of the Manila Electric Company on the river, here in Manila, and put it out of operation. Day and night shifts set to work to put it back into working order, but its capacity is 12,500 K. V. A., and this is more than 25%o of Manila Electric's full capacity. Manager J. C. Rockwell called immediately for econo mies in demands for light and power. General response was good. Movies staggered the hours for operating their air conditioning, to moderate the peak load; air conditioning in offices was mostly turned off; cooler weather made it easier to dispense with the use of electric fans; ranges were given up in favor of gas; conscientious housewives kept sharp watch on lights in the home, using as few as possible; and on the streets, except during peak hours mornings and evenings, the company itself substituted motor busses for its trams, while neon signs were turned off up and down the river and the Escolta. Factories also played the game. At intervals during programs, movies ran a line or two in the film saying they were cooperating with Meralco in conserving juice. The public universally acquiesced. The situation was aggravated by the fact that drouth in the eastern mountains had dried up the water at the Botocan hydroelectric plant-a condition that seems to have no precedent. Manila grows, and so does her demand for power and light. The usual annual upping of demand is about 5,000 K. V. A., but in 1940, with demands from the military establishment increasing, the total increase was about 12,000 K. V. A., almost the capacity of the lightningstruck generator. The relief in sight, but not at once, is the new government hydroelectric plant under construction at Caliraya. Its capacity will be about 20,000 K. V. A., and the Manila Electric is to buy the whole of it. It is presumed to come into operation in January, but June might be a safer bet: hope for January, depend on June. Meantime, there has been rain in the mountains, though nothing like the rains at Manila, and Botocan helps out once more. KEEP 'EM FLYING! The best way to do that, for the duration, will be to economize demands for light and power. * * * When the German consul general got himself away for Shanghai, on Washington's closing up his office here, he gave out figures on the num WARNER, BARNES & COMPANY, LONDON-MANILA-ILOILO-CEBU-BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGERS OF LTD. COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY INSURANCE DEPARTMENT Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT Suar Machinery, Diesel Engines and Mining Machinery Agents for: Hongkong & Whampoa Dock Co., Ltd., Honfkong. i MINING DEPARTMENT General Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines, Inc. I X L Mining Company Masbate Consolidated Mining Company North Camarines Gold Mining Company Paraeale Gold Mining Company Paraeale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUILDING, Plaza Cervantes. SHIPPING DEPARTMENT Agents for: Nippon Ysen Kaisya Conard White Star, Ltd Bibby Line Specia Representatives of BRITISH OVERSEAS AIRWAYS CORPORATION AGRICULTURAL DEPARTMENT All Classes of Fertilizers IMPORT DEPARTMENT Sperry Flour Suamr l"a Ist ~, I The American Chamber of Commerce Journal August, 1941 25 '.I i

ber of Germans in the Philippines among whom were several hundred religious. This sent us to His Grace, Archbishop Michael J. O'Doherty, who got out the diocesan directory and made a check-up. There are about 90 German priests of the Roman church in the Philippines, members of the Society of the Divine Word whose work began here in 1906, or thereabout. They are in parish and mission work, most: of them in remote parishes. His Grace does not believe there is a Nazi among them; in his opinion, no Christian can be a Nazi. He handled us 3 several tracts against Naziism, that he plies the diocese with all the time. There are also some 150 Benedictine Sisters here, who are Germans. This order began its work here about 1910, schools, of which there are 13 in the diocese. Then there are 80 Holy Ghost sisters here, who are Germans. This order began here in 1914 and now has 14 schools in its charge. The sum-up is 340. In addition, there are a few Benedictine fathers who are Germans at San Beda, but more Americans are going there. Such Benedictines as we know are, we still think we can say, violently antinazi. The 3 orders mentioned all established here under Editor in Chief JAMES TRUSLOW ADAMS Managing Editor R, V. COLEMAN Advisory Council RANDOLPH G. ADAMS Director, William L. Clements Library of American History, University of Michigan PAUL M. ANGLE Librarian, Illinois State Historical Library EUGENE C. BARKER Professor of History, University of Texas THEODORE C. BLEGEN Professor of American History, University of Minnesota HERBERT E. BOLTON Sather Professor of History; Director of the Bancroft Library, University of California, Berkeley JULIAN P. BOYD Librarian, Princeton University SOLON J. BUCK Director of Publications, The National Archives CARL L. CANNON Associate in Bibliography, Brown University Library CHRISTOPHER B. COLEMAN Secretary, Indiana Historical Society DIXON RYAN FOX President, Union College; President, New York State Historical Association DOUGLAS SOUTHALL FREEMAN Editor, The Richmond News Leader; President, Southern Historical Society WM. STARR MYERS Professor of Politics, Princeton University ALLAN NEVINS Professor of History, Columbia University MILO M. QUAIFE Secretary-Editor, The Burton Historical Collection of the Detroit Public Library WILLIAM W. SWEET Professor of the History of American Christianity, University of Chicago ROBERT W. G. VAIL Director, New York State Library MALCOLM G. WYER Librarian, Denver Public Library; Director of Libraries, University of Denver THE DICTIONARY OF AMERICAN HISTORY under the general editorship of JAMES TRUSLOW ADAMS is now complete. More than a thousand historians contributed to the making of this work. Each aspect of American history is treated separately, in a brief article, by the historian most familiar with it. From the A. B. Plot to the Zwaanendael Colony there are 6425 separate articles. The article on the American Expeditionary Forces is written by Gen. John J. Pershing; the article on the Tennessee Valley Authority is written by Dr. Arthur E. Morgan; Admiral Byrd wrote the article on Arctic Explorations. Every aspect of our history is treated by an expert. There are articles on the Monroe Doctrine; there are articles on our foreign relations. Side by side with these are brief articles on battles, on political campaigns, on barbed wire. There are articles on neutrality; on our neutrality legislation; on freedom of the seas; on contraband; on blockade. In the five volumes of text the articles are alphabetically arranged. Cross references are inserted constantly and, in addition, there is a separate index volume (being Volume VI) of 158 pages which guides the user to the last fact desired on any particular subject. The work may be had through any book store or authorized representative of Charles Scribners Sons. Full *information will be supplied upon request. The price of the six volumes is $60.00. CHARLES SCRIBNERS SONS 597 Fifth Avenue, New York = I Archbishop Jeremiah Harty, Arch. bishop O'Doherty's predecessor; imembers have gone back to Germany, or elsewhere, and others have come to succeed them, at intervals during subsequent years. The 1939 (January) census shows 1,049 Germans to have been in the Islands at that date. More have come here since, the number up to July 20 being 480 according to the census bureau. Departures from January 1939 to July 20 this year were 282, so the increase in the number of Germans in the Islands since January and this, added to 1939's figure, 1939 is, from immigration, net 198, 1,049, makes the present total 1,247, to which births are still to be added. In contrast, we had harbored the impression that Germans here were thinning out. * * * Vice President Clifford P. Billings of the Islands Gas & Electric Company, owners of the Manila Gas Corporation, came with Mrs. Billings to Manila July 7 by clipper, and on July 10 relieved 5 German employees from the company's service: Plant Superintendent H. Gruening, Mains & Services Superintendent 0. Rother, House Installation Superintendent R. Frencke, Water-gas Plant Superintendent H. Zimmermann, and Repair Shop Head S. Ohnhaus. Manager Arthur Hoyer was shifted to a place as consultant, Mr. Billings taking temporary charge as manager and saying that in some instances Filipinos would be promoted, in others Americans would succeed to the Germans' positions. Mr. Billings also said (Tribune, Tuesday, July 15) that in making the change the company had consulted with United States and Philippine Authorities. The military establishment uses a material portion of the company's gas, and gas is a key industry subject to close surveillance in war times. Three of the men affected have decided to go to Shanghai, following the German consul there. One had made no definite plans when we checked up, and one was on leave. The company is understood to have made generous settlements on the men's contracts, taking longevity of service into consideration. Commissioner Sayre's office acted in the same spirit concerning travel funds, under the Frozen Funds Control. But the mechanics of the change-over were abrupt, of course; there was not the least interruption of service, not a gas-jet flickered, and 20,000 patrons went ahead with no misgivings whatever. President of Manila Gas is Luke C. Bradley, public utility magnate, who 26 The American Chamber of C'stmerce Journal August, 1941

is also president of Consolidated Gas, the Delaware corporation, and vice president of Stone & Webster, utility managers. He was here in 1939 for an extended visit, and he was born in Tennessee, of English parents. (Commerce, October 1939). The gas company here was originally a Swiss corporation. The building of the plant began in 1911 and service began in November 1913. Mr. Hoyer has been with the company from the outset. The service, from the beginning, has never been interrupted. The Swiss holding company was the Zurich Gas Works, head offices at Glarus, near the City of Zurich. An investment banker by name of Bruppacher, of Zurich, was the chief shareholder. Zurich Gas Works at one period owned dozens of such plants, which it built, mainly in Spain, Italy, the Canary Islands, and Palma de Mallorca; and the plant in Manila was the last of these to be sold off. Manila Gas services the Manila metropolitan district, a community of not less than 1 million population. Its premises are a tract of 8 hectares of land on calle Otis, Paco, well within the city boundaries, and convenient to water transportation. There are some 700 employees, the yearly payroll summing about P500,000. The capital is $1,500,000. A small issue of bonds is held in the Philippines. Assets as of 1939 were stated to be P12,400,000; it is evident that the company is conservatively capitalized. Plant capacity is ahead of demand; 12,000 cubic meters a day for 525 patrons in 1913, in 1939 it was 6 times that much, for nearly 20,000 patrons, "meaning that for several years to come the company with its present equipment will be able to give Manila adequate gas supply." * * * In the first week of July 3 Japanese freighters engaged in hauling from the Philippines to the Atlantic seaboard of the United States were requisitioned by the Japanese government with little warning, as governments have the right to do with ships of their own registry. Two of these ships were at or nearby Janan when the order reached them. One had a cargo of Masinloc chromite, Propertv of Lovino & Co.. of Philadelphia. bigest chrome dealers in the world. This chromite was shinned under f. o. b. terms. Most of the cargo on the second shin caught at Japan, of the Osaka Shosen Kaisha company, had been shipned c. i. f. It included 5.000 tons of Philinpine sugar, 1,070 tons of coconut oil, and some odd lots of Manila hemp and general cargo, all billed for the AtTh( American Chamber of Commerce Journal Au.qust, 1941 lantic coast, and in addition, a considerable hemp cargo for Japan. The ship caught at Manila was loaded similarly, but in this instance the cargo was unloaded at the steamship company's charge. The ships caught at Japan, frustrated of their purpose to deliver cargoes on the Atlantic coast as they undertook to do in their bills of lading, came back on the shippers and owners of the cargoes for full payment of the freight to the United States; and if a consignment could later be sent by some other ship, charges for unloading, handling and reloading would have to be met. An alternative may be any market existing in Japan for the products involved. It certainly would not pay the Philadelphia buyers to reembark the chromite, at special expense running to many times its original cost, and Japan might buy such a cargo. "Delay, detention, or deviation arising out of or consequent upon the employment of any vessel in any service of the Japanese government" is one of the contingencies for which an N. Y. K. ship, for example, will not hold itself responsible, so stipulating on the back of its bills of lading. In a general way, this is common ocean practice. The proviso here quoted is supplemented nowadays by a War Risk Clause attached to the company's bills of lading. Taken over, a ship calls its contracts for that voyage closed forthwith, and holds the cargo for all freight not prepaid, 27

while it also holds all prepaid freight funds, "without being liable, for any loss or damage whatsoever." Such incidents are most regrettable, we commisserate every victim of them. They are also of the most abrupt injury to Philippine ocean commerce. But they are not, in these times, unique; they will stretch out, we imagine, into long claims, in most instances, that time and diplomacy will resolve, and shippers suffering acute losses now will one day long hence find themselves recompensed with claims payments tantamount to windfalls. Which signifies that no claim should be left unpressed. * * * Oil executives with longevity at overseas stations comprise a body of minor diplomats, often after retirement from active business. Two years ago at Haiphong, we found no American vice consul there but did find Austin Glass, retired from Standard-Vacuum Oil and with a jewel of a home in the mountains a few miles out of town. For Americans passing through Haiphong, he was doing, unofficially, little courtesies that consuls sometimes do. He was full of knowledge of the country and making his permanent home there, liking the people. They say that Colonel Vernon L. Whitney, at Calcutta, the general manager for Standard-Vacuum for India, does much the same thing. Then there's Fred Noble, retired from management in the Philippines, back here with a suite at the customhouse, in charge of Export Control. And A. P. Drakeford, recently retired assistant Socony manager at Manila, has been mentioned in newspapers as under consideration for the management of Manila Gas. Colonel Henry Gilhouser, another retired Socony man, has been tagged by Commissioner Sayre to administrate fuel and transportation control in the Philippines. It turns out that many such men, retired under longevity clauses in their employment contracts, don't streak out for home but rather continue living where their work has been done. Colonel Whitney was retired at Calcutta early this year, but his friends say that wild horses couldn't drag him away from India, where he manages to do countless favors for fellow Americans. Like Colonel Gilhouser, he had a career in early manhood in the Philippine Constabulary. From an exploit at Camp Bual, when, in 1913, he was governor of Sulu, he holds a medal for valor. He was on patrol at Bual, looking for his interpreter, who had been wounded, when 2 juranen. tados attacked him with barongs shouting the mad cry Ismali! Ismali! Whitney, a large man, grappled the man nearest him and used him as a shield while he shot the other chap dead over his shoulder, then emptied his pistol into the midriff of the man in his arm. In the scrimmage, all over in an instant, Whitney acquired some souvenirs, a cut under the left arm and another in the abdomen, neither serious. In another phase of the encounter, someone else shot dead the outlaw Johandal. Socony's present Philippine manager, L. L. Rocke, was in the Har. vard class of '17 that went to World War I. He too gets genuine satisfaction out of life in the East. He was in the service until 1920, and toward the end was at Fort Bliss, El Paso, at the time the 2nd Division was being reorganized there for a proposed expledition, long since forgotten about, into Mexico. In World War I his outfit was the 82nd Division, longest commanded by Major General George C. Duncan. He went with Standard Oil (not then Standard-Vacuum) in 1920, and after 3 months at 26 Broadway came to Manila in June that same year. In 1937 he was transferred to Hongkong in the ca Philippine American Drug Co. BOTICA BOIE In continuous business on the Escolta since 1830 Leading American Drug Store of the Far East 0 Drugs - Medicines Chemicals Hospital Equipment -Perfumes Toilet Articles - Prescriptions Photographic Supplies and Boie's Soda Fountain "Where All Manila Meets" TAKES THE HELM FOR SERVICE —LUXURY-SPEED THE DE LA RAMA STEAMSHIP CO., INC. MANILA, PHILIPPINES Telephone 2-49-53 P. 0. Box 2319 -- -- -—, -- 28 The American Chamber of Commerce Jour'al August, 1941

pacity of marketing expert, and he came back to Manila from that billet a few months ago, to succeed Fred Noble. * * * We met a straight-shouldered oldtimer with clipped gray mustache at Heacock's a few weeks ago, thinking we must have known him at some time or other. It turned out that we had not, but amends were made over a cup of coffee. Do you know May Scott, the soda-fountain girl at Heacock's? He is May's father, Frank D. Scott, who believes that Albert Easthagen, Henry Foss, George LeDuc, and himself, are the only surviving veterans in the Philippines from the 13th Minnesota Volunteer Infantry that arrived off Cavite from America in July, 1898, and was one of the outfits that participated in the occupation of Manila a few weeks later, August 13. It was also the outfit that did provost duty 8 months in Manila. Scott was then 28 years old, he is now 71 years old; and never having been homeside since shipping for Manila with his regiment, is nevertheless in robust health. Once, years ago, for 6 months he was at Sternberg General with a compound abscess of the liver, but by the 8th day after the operation he was convalescent enough to get some exercise in a wheel chair. Colonel Norman T. Kirk, of the medical corps, then a major, performed the operation and attended personally to the dressings every morning-besides having doctors in to discuss the case. (Colonel Kirk is now at Army Medical Center, Washington, D. C.) This was in 1928, 13 years ago, and Scott thinks that before he'd go through it again he'd beg for the black bottle. Scott's big job here has been raising a family, 10 children, 7 girls and 3 boys. Five of the girls are at Heacock's. May is at the soda fountain. She also opened the fountain at Botica Boie. Evelyn is a stenographer in the general office. June, Ida, and Ruth are clerks in the basement department. The boys are all following the sea. Fred, the youngest, a sailor on the President Madison, was in port only a few weeks ago. Henry is a marine officer, and Morris a marine engineer officer. Mechanics runs in the family. May is married, her husband is R. H. Booth, with the army. Charlotte lives in California. She is Mrs. Don Vorhies and her husband is an airplane mechanic in southern 'California. Francis's husband, Louis J. Bachleder, is an airplane mechanic at Nichols Field, here. The bent of the Scott boys for working with machines is not surprising. It's in the blood. Scott has it in him. Born at Columbus, Ohio, he was, at the time of his volunteer enlistment for duty in the Philippines, a full-fledged railway engineer on the Canadian Pacific on a mountain division. On reading the call of President McKinley for men, both he and his fireman made straight for Minneapolis, the enlistment station closest to them, to enlist. At Manila, too, he got the same work. His fireman was Roy Brown and they were on the only division of the Manila Railroad then extant, Manila to Dagupan, for the army. Discharged from the Minnesotas August 16, 1899, Scott joined the 6th U. S. Cavalry and served in Batangas and Laguna under General J. Franklin Bell. By special order of December 11, 1902, he was discharged from the cavalry in order to take a lieutenancy in the Philippine Constabulary then in the period of organization under General Henry T. Allen. In the constabulary, Scott served in Albay, Mindoro, and Samar; in Albay he had some brushes with General Simeon Ola, a guerilla leader, still living at Legaspi, and in Samar, with Pulahan IL I A HOUSE IS NOT AN ARK A residence or building is not like a ship. Storms, typhoons and floods are among their worst enemies. Fires rank first, of course. But a typhoon or flood can do a lot of damage to merchandise stored in bodegas and buildings. A windstorm can wreck a house and tear up the countryside. Lightning too, takes its annual toll in life and property. You cannot foretell the day it may happen. Now is the time to insure your property and wordly possessions against these destructive forces of nature. Besides fire, flood, typhoon, windstorm insurance, Filipinas also can supply you with coverage for the following: Automobile Collision, Theft, Third Party Liability and Damage to Property, Fidefity and Surety Bonds, Rent Insurance, Airplane, Marine Insurance, Riot and Civil Commotion Insurance, Earthquake, Hurricane and Explosion Insurance. A good businessman avoids all risks. A Filipinas representative will gladly help you. Call or write 3 ~~FUREA TIIT FIDEIUTY 7 _SUlsty BONDS - FIRl IORTGAGE LOANS T7he American Chamber of Commerce Journal A (igust, 1941 29

bands then notorious in that province. Scott gave up military life in 1905, to go with the Public Works bureau, where he worked until 1912, largely supervising road and bridge construction, when he went contracting in the same general line of work. He had married in 1905, and in 1918 he moved to Manila to school the children, sending them to Central (now Bordner) School. When he moved back to Albay, it was to take up farming. He has 3 farms, 1 of 12 hectares at Camalig, 1 of 50 hectares at Guinobatan, and 1 of 130 hectares at Oas, where he lives. The Camalig and Guinobatan farms HAMILTON * BROWN'S QaaLt/y 4/JAat foz t / Enztiy JamniLy M A N H A T T AN Shirts HOLEPROOF Hosiery H I C K O C K Belts & Suspenders C n 0 P E R w S Underwear JOHNSTON-MURPHY Shoes ALLIGATOR Raincoats TAILORING Department FASHION Salon 0 The "Best Dressed" in Town-Shop at HAMILTON-BROWN:ml are planted to hemp and coconuts; sharecroppers get half the hemp for stripping it, and a third of the copra for preparing it-about the standard arrangements in that province. The place at Oas is but little developed, but is gradually being put to upland rice-in default of irrigation for lowland rice. Here Scott finances the sharecroppers, charging no interest, and provides them plows. They provide buffalo, and Scott's portion of the harvest is 20%, 1/5. It is no fortune, but it entertains him and the constant improvements add to the worth of the land. The sharecroppers pay him in kind. He's quite a worthy pioneer. In Manila he dabbled in transportation, getting certificates of public convenience and running busses from Manila to Calamba, Indang, and Cavite. Illegal competition was ruinous, he sold out before losing too much. In one haul the constabulary rounded up 54 carriers in Scott's territory, with no right to be there; and 3 years after he had sold out and gone back to Albay, Scott was notified that the cases against these men were coming up for trial. He smiles about it now. Such is life, he says. And he fries other fish. * * * We have delved a little in the esoterics and arcana of the Frozen Funds Control administered in the Philippines at the High Commissioner's office. Our first discovery was that it is not confiscation; the funds are controlled, not sequestered, and the control is for the purpose of keeping money from reaching Europe except for legitimate purposes. No aid must reach Hitler, on whom America has thumbs down. Within the objective of the law, everything possible is done to simplify the working of it and especially to place no obstacles in the way of business transactions, in those regions of the world where America will still do business. In the case of a corporation, for example, a 30-day permit is procured at the Commissioner's together with supplementary forms. At the end of the 30 days, a complete report of all transactions goes to the Commissioner's for scrutiny. If all is shipshape, a further permit is forthcoming. Everyone will probably try to make the grade, since the penalty for not doing so might be 10 years in a Federal hoosegow besides cancellation of the permit. Preparation for compliance includes a listing of what a man has, or what a company has; and where it all is, and in what form. For business wholly within the Philippines, compliance is easy; for exporting and importing, the way of the transgressor would be hard, but the way of the company on the up and up is convenienced at the Commissioner's as much as possible. The law may have loopholes in it. Still, there are always that $10,000 fine and 10 years in stir in the offing; and for companies especially, cancellation of their permits. Cooperation is what we hear reported. We thought of, say, a German who might own wealth here in form of JL IZAL PORTLAND CEMENT "The Builders' Choice" The CEMENT that insures MAXIMUM STRENGTH in minimum time and cost. 0 M MADRIGAL AND COMPANY, Inc. 8 M. del Banco Nacional Telephone 2-19-62 MANILA 109 Escolta P. 0. Box 1630 Tel. 2-26-44 Manila 30 The American Chamber of Com7n erce Journal August, 1941

stocks, who in going away would leave these securities with some reliable friend, nominally sold to him, and that when the dividends came this friend might send the money to sonme neutral capital in Europe, whence the real owner of the securities might withdraw the money to Germany. But it can't be done. The money could only be sent to the neutral European capital for merchandise, and the bank there would have to certify that the merchandise had been bought, while payment would be on the showing of invoices that the goods had come to Manila. There are companies in Manila most of whose shareholders live in Europe, and some of these shareholders are habituated to considerable dividends on their holdings. All these shareholders are now on a regimen of forced savings, under Frozen Funds Control. Among the foreigners, an individual is allowed a maximum of $100 a month, and $25 a month for each dependent, up to a sum not exceeding $200 a month; anything over that merely accrues to the individual's credit here in Manila, for the duration, and is of the nature of a forced saving. Filipinos and Americans so situated in Europe are allowed up to $500 a month, but nothing on account of dependents. Aliens leaving the Islands are also liberally treated; since it costs money to travel, an individual may take with him $2,000. More than 1,000 individuals are affected by the control of remittances just described, most of them in Spain. For more than actual needs, absentees and head offices just have to wait out the duration. While about it, we inquired about the $30,000,000 in the United States recently released to the Instituto Espairol de Moneda Extranjera. We gather that this is not cash, but exchange bills, and that it has been released to Spain for purchases in the United States; that is to say, released for trade and not for flight. And that's as far as we got in the lesson, when the bell rang. You can see that a chiseler, unaware how little tolerant Uncle Sam is of informalities, might get a draft for a monthly remittance to his family at one bank, and repeat at other banks that same month, and try to get as much as $1,000 through. You can also see that he'd be caught in no time. Such things are double checked. When it all started, back there one blue Monday, June 16, and banks wouldn't even let customers get to their safety-deposit boxes, an anxious septuagenarian applied at his bank about 11 o'clock and said he simply had to open his safety-deposit box before noon. Since it required permission of the Commissioner's office, the bank said this was impossible. However, curiosity was at last aroused and the bank relented enough to let the customer open the box under supervision of one of its clerks. It turned out that what the customer had to have from the box before noon was his teeth, he had left his plates in the box. A New York business house writes to Manila as follows: "In accordance with Executive Order No. 8785 of June 14, 1941, American firms are prohibited from effecting commercial transactions with individuals or firms of continental European nationality, wherever these firms may be located within or without the United States. A fine cf $10,000 may be imposed for each violation. Commercial relations with such firms as the above are permitted only on the basis of a specific Treasury Department License in each instance." Our dope is that for such transactions would have improved the phraseology. General permits allow Europeans and companies to operate here, specific permits validate their transactions; and though a company here has secured a 30-day general license for normal business, payments and [Continued on page 38] - --— I Dansalan Hotel Cottage, Dansalan, Lanao: P6 a day-Manila Hotel Management. I All Rooms with Private Baths: P6 a day-Manila Hotel Management. Such an oasis breaks the trip from Manila to Davao, while Lanao itself is well worth a visit because of its Mohammedan crafts and market. Assistant Manager Francisco Mendoza of the Manila Hotel opened this hotel to patronage a few weeks ago very successfully, the larger number of visitors coming from Cebu. The American Chamber of Coimmerce Journal Augu.st, 1941 31

Quezon at once convened a joint meeting of the legislature, had Williams over to speak for himself, and so expunged publicly, from the record, the reflections against him. The legislator, Williams felt, must have acted in good faith. He himself would have let it pass without attention, but Quezon was too loyal for that. A distinction should perhaps be drawn in behalf of readers homeside between public-works administration in the Philippines and their administration at Washington. At Washington they are the concern of various offices; in the Philippines they are the concern of one office only, the Bureau of Public Works, under the cabinet Department of Commerce and Communications. Everything built for the public in the Philippines, with public funds, above a nominal maximum value, is a job for the Bureau of Public Works. Thus while Director Paez began, and Director Williams brought far toward completion Manila's South Port, and Williams (Paez doing the railroad's part) got well along with the North Port, irrigation projects and huge waterworks were under construction, and also a myriad of village markets and public schools. Nearly 90,000 hectares of paddy lands were put under permanent ir A. D. Williams's Philippine... Continued from page 9 rigation at a cost of P200 per hectare, half the cost of similar work in India. Laws had to be drafted, one for floating the P20,000,000 worth of bonds in the United States. But out of this, P5,000,000 was conserved and shifted to the revolving bridge fund, the result being hundreds of permanent bridges in the permanent roads of the Philippines. The way the fund revolves is by means of tolls; when the cost of a bridge has been returned to the government in form of tolls, that bridge becomes a free bridge and the money goes into further bridge construction without additional action by the legislature. Money has been borrowed for the same purpose, often from the postalsavings bank, and repaid by tolls. The definition of National Highways, by law, was a further great step in this branch of public works. The Highway Commission, Williams the chairman, has at least made a beginning in routing cart traffic in Manila to leave main ways more open for motor vehicles. We dare say also that Williams must be charged with the high levies on gasoline and fuel oil that make large portions of the bridge and road funds of the country; his hand may be seen in the way in which the law distributes these funds, allowing so much, under a far-sighted cabinet secretary, that, though largely paid at Manila, goes into highway and bridge construction in Mindanao, opening an expansive and fertile wilderness to settlement. Should we touch the earlier part of Williams's career in Philippine public works, we would find him reopening the Kennon road for Governor Forbes in 1911.... with nearly 4 kilometers of bridges in a roadway 34 kilometers long. He did this while a committee studied the feasibility of it, and had the road ready for the holiday exodus from Manila to Baguio. Forbes then made him mayor of Baguio, an 8-year job in which E. J. Halsema succeeded him and did much both for Baguio and the whole province. In 1918, down from Baguio, Williams was made chief of the bureau's irrigation division, and after intermission for World War I (in which he did not get overseas), he stayed at that post until promoted to the directorship and a place as consulting engineer at the Metropolitan Water District. Once in all these years, of course, he managed the Manila Hotel as an AMERICAN INTERNATIONAL UNDERWRITERS 6, FOR THE PHILIPPINES, INC. Writing All Kinds Of General Insurance MARSMAN BUILDING TEL. 2-33-47 PORT AREA, MANILA P. 0. BOX 3341 I 32 The Amlerican Chavmber of Comnmcrce Joaurtral August, lI41

off-hours job, the Hotel being government-owned. He remained a dire(tor of the Hotel, and its consulting engineer, up to the end of his service, and also kept the place at the Metropolitan Water District. President Quezon paid him well, dividing his services among the entities already mentioned and the National Development Company; and not a place in all this round, and more that space excludes from mention, was a sinecure. (Since its creation, Williams has been the active spirit of the Civilian Emergency Administration, meetings almost daily, and dozens of acute problems resolved). A. T. Sylvester succeeds to much of Williams's work, another old hand in the bureau. There are some things in the Williams code for young men to know. Its first precept, never broken, is no gossip; no personal remarks about anyone, to any third person. Another of its precepts is no equivocation: don't answer, until you know what the right answer is, so you will never have to back water. Another is frankness. In illustration of the vital importance of this precept, we are reminded by the calendar that we covered Williams's office as a reporter during 23 years. When you went in, either he was poring over blueprints alone, or he was talking them over with some man, or men, with personal interest in them. A goodly number of these men, it was inevitable, had to be disappointed: only complete frankness could send them away with the feeling that if Williams was not doing the right thing, he was doing the right thing as he sate it and he had no ulterior motive. One good despedida for him was held at Dr. W. H. Waterous's home, by Dr. Waterous and ex-Senator Ludovico Hidrosollo. There we sought the opinion of 3 other men round a table. One said that he had long thought, and often said, that the services of A. D. Williams to the Philippine government would be cheap at a million pesos a year; because, he said, on the whole volume of public works, he saved the public several times that sum. This was a man who for many years had been in the government, in a position to know whereof he spoke. His belief was at once confirmed by a member of an engineering firm that does much business with the government, and then by the third man, an outsider like ourself. We have saved the prime Williams precept to the last. In all his 33 years of public service here, he never Put as much as one word on paper that could not be seen by the whole world. He might mark a document confidential; nevertheless, his part of it was open to the universe. It is the writer who fails in the Philippines, not the doer; not the man whose speech is halt and whose mind is dynamic. Let a set of London chaps get at a man such as Williams, and they would have him Williams of the Philippines in no time, and bulking larger in the world's attention than their Lawrence of Arabia, for far more work, done unexceptionably. "Mr. Williams, have you any investments here in Baguio?" Forbes asked in appointing him mayor there. "Only P2,000, sir, in the Mountain Trading Company, with Mr. Heald-in fact, I bought it only a day or two ago." "Well, you'd best sell it." " Yes, sir." And before the sun went down that day, Mayor Williams owned nothing in Baguio. He needed no word from Forbes to know the honorable thing to do. He has worked hard and been well paid here, but he leaves the Philippines neither a poor man nor a rich onewith the self-satisfaction of a fully examinable record. Dictionary of American... Continued from page 24 Lincoln, without stopping to remind you that the said great Abe had the War of Sections to fight on the one hand, and congress, from 1863 on, to fight on the other, with a general of the Army of the Potomac giving up his command to contest the presidency with him, and up to August, just about certain to winl Of course, Sandburg's recent 4 volumes on Lincoln are definitive on that subject; and yet, right here in the pages of what deserves soon to be called among men of accurate conversation, the Dictionary, just as we say the Bible, or the Britannica, or Shakespeare, every essential of the Maen and the Period turns up concisely clear. You get it in Chase, Salmon P.; Seward, Wm. H.; Stanton, Henry M.; Johnson, Andrew; and references like that-the pillars of the war cabinet, the border-state governors, the commanders in the field, and battle and campaign descriptions: pointed, crisp, factual. The page format is parallel columns about the width of a column in a London newspaper, the type similar to that of the London Times. Though the volumes are generously large, the pages 10 inches by 6 3/ inches overall, the books are not heavy in the hand; we gave them the reading-abed test and they scored an exceptional IQ. (Books below normal are those that when you read them abed, a pillow a fulcrum for the elbow, weigh comparably to a Virginia ham and excite a pseudo-ague in the arm dedicated to the torture of holding them. Such are law books, for instance, and by design, no lawyer wanting it convenient for a layman to learn the law and how to keep out of court). It need not be added that alphabetical arrangement of reference works is not to be improved upon, save with index and cross indices, the conveniences that cap these volumes. Our set so engrosses us that we are leaving it at the office for the time being, where readers may drop in and appraise it for themselves; and we are sure that even during the current paucity of Pacific tonnage, the publishers (or Philippine Education Co.) will get sets through from New York to Manila promptly enough, by the homeland mails. in congress would not vote for America's getting into World War I, kids asked their dads at home what a Copperhead was and why Lindbergh was one. Naturally, even the Dictionary of American History can't copper that second question, but the firstit's there. Copperhead, Butternut; mighty strong in 1862, when Lincoln lost control of congress. You knew that difference between him, Woodrow Wilson, and Franklin D. Roosevelt? Yes, 0 yes indeed. Wilson could snap the White House whip and congress would promptly curtsy and leap through the fiery hoop; and it's that way with Roosevelt now; but ordinarily history simply gagas on about Lincoln, the great A. A: ASIA LIFE INSURANCE COMPANY AFFORDS TO ITS POLICYHOLDERS REINFORCED SECURITY I. An American legal reserve company, incorporated and operating under American laws. II. Supervised by the efficient Insurance Department of the Philippine Commonwealth, with investments in Philippine securities, and network of provincial branch offices at your service. INSURE WITH ASIA LIFE INSURANCE COMPANY PAUL R. DANNER Manager for the Philippines Perez-Samanillo Building, Escolta, Manila 1 The Americam Chamber of Commerce Journal Augcust, 1941 33

Sun Yat Sen Republished We have been leafing through the late Dr. Sun Yat Sen's The International Development of China, 1922, recently republished at Chungking and Hongkong by the China Publishing.Company. We find Sun Yat Sen to have been something more than a Thomas Jefferson in his scientific approach to vast plans of public works, improvements in communications, and the exploitation, reclamation, and conservation of natural resources. He desired, in this book, that an international body be effected, for China, comprising the great organizers of allied defense in World War I, and to apply to the problems of peace in China, and coextensively throughout the world, the ability, and perhaps half the capital, that had during 4 destructive years been poured out in futile war. The nationalization of industries, he reckoned to have been the second industrial revolution, as the shift from manual to mechanized labor had been the first. He said that China would be going through both revolutions at one period, and by all the prophets! we can see today that she stands at least at the threshold of this era! The Burma road, the road also from Russia, the refugee industrial cooperatives, nuclei of many a great future Chinese industry. These are but 3 of dozens of portents of tomorrow's China, more than twice her present size through absorption of Mongolia and Jehol, carrying out Sun's railway plans until-who knows?-either railways or motor highways actually do reach to Capetown, for such was his conception, as well as Europe. Though a single generation of 450 million Chinese could do it all, inertia retards even economic force: the job is one for 3 generations. Everything will be subject to amendment; the great engineers, whom Sun proposed to employ, with Chinese in training under them to take their places when the debts were cleared, will, if ever employed, find that their plans will be trimmed to the pattern of prevailing politics and diplomacy. We foresee all that with the naked eye. It's human nature, the more certain to be a decisive factor in modern times because of the degraded level of the modern popular press. But China has the common sense to revere Dr. Sun's genius; duly modified and occasionally maimed, his principles, as he styles them, will no doubt prevail. Meantime however, for many a year, we fear, there will continue to roll down the Yangtze 100 million tons of fertile silt a year (the estimate of the Whangpoo Conservancy Board), sufficient, as Sun points out, "to cover an area of 40 square miles 10 feet aeep." The necessary reaf — forestation of the headwaters region, the embankment and jetty construction, the works on the Whangpoo will all be subject to postponements and delays such as characterize similar projects everywhere, because popular decisions are entailed in every one, besides temporal vicissitudes such as wars. "The world has been thrown back to the prewar condition again," wrote Sun Yat Sen in 1922. "The scrambling for territories, the struggle for food, the fighting for raw materials will begin anew..... Our militarists and reactionaries... are going to Japanize China, so that, when the time comes, they will start another Boxer Movement once more to defy the civilized world. I, therefore, begin to utilize my pen, which I hope will prove even mightier than the sword that I used to destroy the Manchu Dynasty, to write out these programs for organizing China for peace.... I desire to have China organized for peace." Well, the denouement will be peace: it is China's social philosophy; but the interim, as Sun Yat Sen foresaw 20 years Current scenes in Free China ago, is world war. He said then, in this book, that unless China was relieved by implementation of her for international commerce (trade balances were gigantically against her every year), the provocation latent in her helpless situation would invoke another world war. His successor, Chiang Kai-shek, also claims to see the war in China as only a phase of the general conflict. Sun seems to have had an immortal prescience in human affairs. Vehemently he denied the doctrine of Darwin, Marx and Wagner-the scientist, the sociologist, the musician: the genii of modern paganism-that force is the fundamental power that influences mankind and achieves its purposes. Greater than force, he placed cooperation, a thesis in itself that is worth the deepest reflection of the civilized mind. Marx gave every war its economic cause, pretext for Hitler to demand Lebesraum and march out to seize it. Darwin taught him the specious rule of the survival of the fittest, while our civilized nature gives the soul its innings in this word fit. Wagner inspired him with the glories of the victories of the strong. But when his wars have all been fought, whether he has won or lost, such cooperation, such law as man has found salubrious in his social environment, will resume supremacy-because it is supreme. 34 THE AMERICAN CHAMBER OF COMMERCE JOURNAL Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. Subscriptions.4 a year - Foreign?6 The American Chamber of Commnnerce Journal August, 1941 (

Sugar Market Report (June 16th to July 15th, 1941) -- By Warner, Barnes & Co., Ltd. At the very beginning of this period, the distribution figures for May were announced, and consideration of them brought realization to the Trade that refiners would need additional supplies of raws; as a result, holders increased their ideas of price, and refiners actually paid 3.55~ for one parcel, other sellers asking for 3.60~. Immediately thereafter, however, the market broke sharply under the influence of an announcement from the A.A.A. that the increase in distribution over last year of 897,000 tons did not necessarily mean that consumption had increased by that amount. This announcement was interpreted as an effort by the Government to keep prices down, and buyers withdrew from the market forthwith. For the whole of the rest of the period up to the middle of July, the market for actual sugar in New York remained extremely quiet with very little business doing, although East Coast refiners bought small parcels in convenient positions at 3.55~. Continued indications of Government intervention to curb rising prices have caused buyers to restrict to a minimum their purchases at these advanced levels. The sugar refiners at Philadelphia and one refinery in New York have had to suspend operations due to strikes and labor troubles, and this has interferred with normal business. In late June, the Philippine deficit (the difference between our full-duty and dutyfree quotas) was reallocated to the fullduty paying countries; this amounts to ap proximately 47,000 tons. There has been considerable activity in the No. 4 or World Contract on the Exchange during this month, caused by increased interest in the purchase of Cuban sugars by the U.K., as well as other developments in the war situations such as the occupation of Iceland; this last was expected to help in assuring the arrival in Britain of sugar supplies from the West Indies, which should lead to larger purchases of Cubas, particularly since the question of dollar exchange has been ameliorated by the operation of the Lend-Lease Act. The actual advance in quotations in the No. 4 Contract during the period under review is approximately 30 points from (for September delivery) 0.934 to 1.23~. Quotations on the No. 3 Contract on the Exchange fluctuated as under during the period, and activity in this market was restricted by reports that the Administration was disturbed over the increasing speculative activity in foodstuffs and was proposing to investigate unregulated commodity exchanges (including sugar) in order to prevent undue speculation: Japanese vessels from the Philippines/U.S. Atlantic trade by order of the Japanese Government. One cargo of 5,000 tons of sugar which had arrived in Japan en route to the United States was ordered discharged there, together with other commodities on the same vessel; it is understood that this cargo may be picked up by an American vessel. The details of shipments during the month of June are given below, but they do not give the full picture, since shipments during the first half of that month were heavy, amounting to 40,000 tons; on the other hand, shipments of centrifugals during the second half of the month were only 7,000 tons. Shipment of the refined sugar quota is expected to be made in full and there is July........... September...... January 1942... March "... May "... July "... Low 2.47~ 2.500 2.55~ 2.56~ 2.600 2.660 High 2.580 2.590 2.640 2.660 2.680 2.700 Latest 2.58d 2.59~ 2.63~ 2.650 2.68' 2.70C Reported sales of Philippine sugar during the period amounted to 32,130 long tons at prices ranging from 3.45~ to 3.55~, while no resales were reported. The shipping situation locally remains extremely difficult, and the shortage caused by withdrawal of American tonnage, as reported last month, has since been aggravated by cancellations and withdrawals of Ii I I,.......!/.. WE CONVERT CARS INTO "SUPER-SILENT SPECIALS" I RM i INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents I. t. tLSi h, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 Besides doing an errorproof Shellubrication job, we give your lights, cooling system, spark plugs, fan belt, tires and many other points a careful checking-over. Honest, we don't overlook a thing! The result? Your car will sound- act- and literally be a "SUPERSILENT SPECIAL." We're here to do a lot of other things for our neighbors, too. Try us and see. SHELLUBRICATION SERVICE STATIONS Taft & Herran.............Tel. 5-75-22 Luneta......................Tel. 2-11-31 Ayala Bridge................Tel. 2-10-25 Calle Morayta..............Tel. 2-40-39 Also in Baguio — oO~ —. THE ASIATIC PETROLEUM CO. (P. I.) LTD. P. 0. Box 441 Tel. 2-2541 MANILA El l The American Chamber of Commerce Journal August, 1941 35

space in sight at present for about 30,000 tons of the balance of the raw quota, but prospects for shipment of the remaining 155,000 tons are very uncertain. Efforts are being made, through local Government authorities and the Resident Commissioner in Washington, to have additional tonnage allocated, but demands for the carriage of defense materials are paramount and the outlook for the future is far from promising. The domestic consumption market was a little firmer during the second half of June, and showed further gains in price during July; this was caused by the typhoon conditions which prevailed, causing a heavy reduction in shipments of this commodity from the southern islands. At the close, buyers are reported willing to pay up to P4.20 per picul. Exports to the United States during the month of June amounted to 46,923 tons centrifugals and 5,703 tons refined. Total shipments from November 1st, 1940 to June 30th, 1941 are: Copra And Its Products (Report for the month of June, 1941) By Kenneth B. Day & Leo Schnurmacher The fluctuating market noted during the previous few months continued during June, with various rumors bringing the market f down at one time and other rumors bring- t b" o ing it back later. COPRA-Copra arrivals in Manila were again a record for the month although less than arrivals during May. In Cebu, arrivals were considerably less. Arrivals in Manila were 28% under May but 16% over June, 1940, while arrivals in Cebu were 38% under May, but 22% over June of last year. Kenneth B. Day The decline in prices during the latter Leo Schnurmacher part of May carried over into the first week short-covering and replacing stocks sold at of June and buyers reduced their quota- the May peak. With the rapid advance in tions gradually to P6.50 per 100 kilos rese- values of domestic fats and oils in the cada. It soon became apparent, however, United States and the absence of selling that production was lighter than expected interest, the market rose until June 27th, due both to the effects of the drought and when P11.25 was reached. Advices were to heavy harvesting during May, which re- then received of the imminence of the essulted in competition by dealers who were tablishment of a price-ceiling for cottonseed oil in the United States, which caused buyers to reduce prices, and general selling MYV02 0developed which threw the market down to P9.00 at the close of the month. Volume of ~F ~IIOLD trading was very much smaller than that BLACK which developed in May because of the Centrifugals................. Refined...................... Tons 615,460 30,347 645,807 Total.............. i "BLACK & WHITE" I I [I ALHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA I SCOTCH WHISKY KUENZLE & STREIFF, INC. Main Office: MANILA Branch Office: 343 T. Pinpin CEBU ILOILO 44-48 Isaac Peral Tel. No. 2-39-36 ZAMBOANGA Tel. No. 2-17-62 36 The American Chamber of Commerce Journal August, 1941 f

rapid decline from the top. The Pacific Coast market followed the sanie pattern, dropping from $3.25 to $3.10 at the beginning of the month and rising to a high of $3.90, but with the possibility of a cottonseed oil ceiling, buyers withdrew and the month closed with no accurate quotation. It will be noted that very little copra was exported to points other than the United States, and shipments to the United States were the heaviest in any month this year. Statistics for the month follow:Arrivals: Sacks Manila.................... 456,428 Cebu...................... 317,321 Shipments: Metric Tons Pacific Coast............ 13,294 Atlantic Coast........... 3,048 Gulf Ports.............. 5,620 China & Japan.......... 233 Other Countries......... 279 Total............... 22,474 Beginning End of of month month Stocks on hand: Tons Tons Manila........... 33,419 36,109 Cebu............ 33,122 26,697 COCONUT OIL-The coconut oil market advanced throughout the month with the advance in values of domestic fats and oils. Towards the end of the month spot business was reported up to 61/2 cents c.i.f. Atlantic Coast with futures at 1/2 to 3/4 cent less. Shipments to the United States continued good. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 4,389 Atlantic Coast........... 12,941 Gulf Ports.............. 1,852 Other Countries.......... 151 Total............... 19,333 Beginning End of of month month Stocks on hand: Tons Tons Manila & Cebu... 20,647 17,634 COPRA CAKE & MEAL-The local copra cake market was weak throughout the month. There was no shipping space available so that no new business could be done on copra meal to the Pacific Coast and local business for fuel and fertilizer was light. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 4,831 China & Japan........... 20 Total............. 4,851 Beginning End of of month month Stocks on hand: Tons Tons Manila & Cebu... 10,769 10,976 DESICCATED COCONUT-Shipments of desiccated coconut continued very heavy although 5% under shipments during May. Total shipments were 6,756 metric tons. There is no change in the desiccated coconut market. All desiccators are working at full capacity and shipping as fast as space can be secured. GENERAL-Any attempt to foretell future conditions of the market is very risky. The severe drought during the first five months of the year has certainly curtailed copra production to a considerable extent. On the other hand, the export control leaves practically no market for Philippine coconut products except the United States and it is difficult to see how the United States can absorb all of Philippine production even if space can be secured to carry the coconut oil available under the quota and the balance of the crop as copra. The shipping situation is becoming more difficult each month and until such time as additional American tonnage is allocated to the Philippine trade, there is no relief in view. The Administration in Washington has stated that if domestic fats and oils continue to advance in price, a ceiling will be established and it is expected that any ceiling would be set up at lower values than the present market. We cannot expect that values of coconut oil will increase above the values of domestic fats. Therefore, it would appear that we cannot expect values appreciably higher than what we have already seen during the past six months and any further curtailment of shipping space will definitely depress the market. I The next time you light a match... stop and think of the havoc a tiny flame could cause if it got beyond control! It could destroy your house and everything in it. Some things you could replace, but others-never. Take no chances with fire. Keep your valuables in a safe deposit box. Rates are very low. PEOPLES BANK AND TRUST COMPANY 605 DASMARIFAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac - - m -M The American Chamber of Commerce Journal August, 19/1 37

Tobacco Review United States.... 118,056 161,461 434,861 June 1941 May 1941 (June, 1941) - By Alhambra Cigar & Cig. Mfg. Co. - TOBACCO: The market for local and export grades was inactive. Shipments abroad were very small. Comparative figsres are as follows: Rawleaf, Stripped Tobacco and Scraps Kilos June 1940 656,538 January-June 1941 2,001,506 January-June 1940 3,412,893 CIGARS: Shipments to the United States compare as follows: June May June January-June January-June Cigars 1941 24,837,010 1941 10,989,225 1940 23,548,949 1941 77,476,158 1940 102,288,732 China............ Hongkong........ India............ 32,105 6,010 5,290 Real Estate By P. D. Carman Boulevard Heights The first half of 1941 P8,249,. 804 shows a heavy drop il, Manila transfeen as compared with the same period of 1940 or P12, 805,485 but is not so far below the first hbzlf of 1939, P9,366,~ 529|3020. The January 1940 total of P 6,289,667 was j nearly double that of the highest month on record. A better comparison would possibly be the February to July 5-month totals which were P7,001,569 this year and P6,515,818 in 1940. Strong-material construction in June was valued at P429,170 and in June 1940 P529,230. The half year totals were P3,043,900 and P5,271,920, a drop of 42 % CHINESE BUSINESS FIRMS DIRECTORY Dy Siu Bazar Importers & Manufacturers' Agents on General Merchandise Tel. [phone] Soler Street Uy Su Bin & Co., Inc. General Merchandise Tels. 4-75-50 Store 4-75-25 Manager "ZEN-GUI" Lim Siong Tiu & Sons General Merchandise 183-185-187 Rosario Go Singco Sons & Co. General Merchandise Tel. 4-86-12 Cosmos Bazar, Incorporated General Merchandise Tel. 4-70-98 P. 0. Box 2389 Manila, P. I. P. O. Box 2391 203-207 Rosario Manila, P. I. 127 Rosario 217 Rosario a this year. Sta. Cruz......... Sampaloc......... Tondo........... Binondo.......... San Nicolas...... Ermita........... Malate........... Paco............. Sta. Ana......... Quiapo........... San Miguel....... Sta. Mesa......... Pandacan......... Intramuros....... Sales City of Manila 1941 May June P 183,439 346,469 107,68f7 231,000 199,164 28,491 81,173 40,521 58,687 40,287 30,000 111,465 31,887...... P157,452 216,867 107,780' 40,000 85,132 40,533 57,667 44,137 33,714 6,817 87,180 22,481 878 23,800 P1,490,270 P924,438 Just Little Things Continued from page 31 Panciteria China For Health and Comfort Eat Always our Balance Diet Tel. 2-18-52 701 Ongpin b Gandara 584 Ideal Cafe Tel. [phone] Plaza Goiti 409 Rizal Avenue Chicago Cafe Tel. 2-41-01 Tel. 2-44-61 N Tel. Hotel-2-34-05 Rest.-2-16-83 Central Hotel & Restaurant Corner Azcarraga Z Rizal Avenue purchases outside the Islands must be covered by separate licenses. However, if a customer evidently a European comes into your store to buy at retail, you are not laying yourself liable to the law in selling to him and taking his cash. You are permitted to assume that he is on all fours with the law, and that the money he proffers is within his allowance. That's all we've learned about it, save that Treasury Form TFR 100 has been substituted with TFR 300, which is probably critically important, but we wouldn't know in what way. ew Chicago Hotel & Restaurant 613 Rizal Avenue 38 The American Chamber of Commerce Jourtial August, 1941 (

Rice Review Arrivals in Manila (Sacks) Month Rail Water June, 1941...... 123,266 25,023 June, 1940..... 93,877 3,611 May, 1941..... 141,145 13,033 Shipping Review (June,.1941) By Dr. V. Buencamino Manager. National Rice & Corn Corp. RICE Total 148,289 97,488 154,178 Following the usual statistical trend, the period under review witnessed a broadening demand for rice accompanied by important appreciations in price. A net gain o s f of P0.35 for Macan was made during the month. Aided by reports of a relative scarcity that exists in the different centers of consumption, and with stocks in the producing areas, particularly of Macan reported quite low and in the hands of strong factors, the market is expected to register noteworthy changes in the coming month. The month opened quiet with secondclass Macan selling at P5.20. A modest improvement of P.05 was made during the first week. This was followed by another advance of P.05 in the second week. The third week saw the market move up by another P.05. This was followed by further appreciations which carried prices to P5.55 at the close, the market displaying unusual strength. In our opinion the developments were a faithful reflection of the true position of the market. While it is admitted in all well-informed circles that the last harvest was decidedly a very poor one, it has not been realized until lately and only by a few people that the demand would outbalance the supply. This erroneous belief was premised on the fact that during the first five months prices reached very low levels, in fact lower than during years of more plentiful harvest. With that background the trade thought that the supply was quite ample. We have always held, however, that while demand was not up to normal in view of the impaired purchasing power of the people, supply will sooner or later lag behind. The improvement of the market was further strengthened by the report that the NARIC stocks of imported rice were almost exhausted. As the following figures will indicate there has been a comparatively heavier movement of stocks from the producing centers to the consuming areas. While receipts at Manila were smaller, shipments to the consuming markets were heavier, a condition which had a firming effect on the market. Shipments to provinces by water (Sacks) Month Quantity June, 1941..................... 90,697 June, 1940..................... 118,905 M ay, 1941..................... 76,186 PALAY The market move in sympathy with the rice situation. With the bulk of the supply already in strong hands, business was comparatively small. The month opened at P2.50 and closed at P2.70 in Cabanatuan. (May, 1941) _ By Associated Steamship Lines The total Revenue Tonnage figures for May 1941, are 435,045 tons, for a total of 105 sailings. Compared with figures for the month of April 1941, the tonnage shows an increase of 37,777 tons. SUGAR: Tons Centrifugal/Raw............. 83,378 Refined...................... 6,254 Total May................... 89,632 Total April.................. 100,152 Decrease..................... 10,520 I — ~ You Can Always Depend ON THE MRR When you travel by rail during bad weather or good there is nothing more dependable than the MRR System. The MRR System as the leader in the transportation field in the Philippines for a half century has always carried its passengers safely, dependably, comfortably, speedily and economically to their destination. More than that, the MRR System has done the most to promote the steady development of the transportation business. These have won the public's full confidence, friendship and loyal patronage. When you travel via the MRR System, you can depend on it. Daily expresses from Manila for provincial terminals, San Fernando (La Union), San Jose and Cabanatuan (Nueva Ecija), and Legaspi (Albay); Luzon Bus Line for Batangas. For points beyond the MRR territory, daily trips of Norlutran, Pantranco, Rural Transit and Alatco connect with outbound trains. For schedules and fares See Your Railroad Agent MANILA RAILROAD COMPANY Tutuban Central, 943 Azcarraga, Manila, Philippines -~~~-~ --- — '~~~~ I - - The American Chamber of Commerce Journal August, 1941 39

Southern Islands Cpuises Cebu-Dunlaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 COCONUT PRODUCTS: Di follows: United China & E States Japan Tons Tons istributed as Tons Total Tonnage May............ 200,397,urope Total Tonnage April........... 177,588 Misc. TTons ons Increase....................... 22,809 4 CONCENTRATES: Distributed as follows: Desiccated Coconut.. Coconut Oil. Copra..... Copra Cake & Meal.. 13,391 18,726 13,735 7,967 2 3,008 15,033 2 I United States Tons Copper.. 827 Gold.... 108 Lead.... Zinc..... China & Misc. Japan Europe Port8 Tons Tons Tons 53,819 18,045 4 Tons.... 71,868.... 58,274 Total Tonnage May....... Total Tonnage April....... ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc. New York Silver Line, Ltd. London Java Pacific Line Batavia Leif Hoegh A/S New York Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) oOoo Trade I 2-15-21 & Tels.. 2-15-22 Commerce B1dg. 2-15-23 Increase..................... 13,594 HEMP: Distributed as follows: Bales China & Japan............... 56,743 United States................ 124,949 Europe...................... 8,418 Misc. Ports................... 10,629 Total Bales May............. 200,739 Total Bales April............ 102,378 Increase...................... 98,361 LOGS & LUMBER: Distributed as follows: Bd. ft. China & Japan............. 5,918,094 United States.............. 2,774,925 Europe.................... 1,017,495 Misc. Ports................ 328,490 Total Board Feet May..... 10,039,004 Total Board Feet April.... 8,314,820 Increase.................. 1,724,184 ORES: Distributed as follows: United China & Misc. States Japan Europe Ports Tons Tons Tons Tons Copper. - 4,382 - Chrome 20,200 15,100 - Iron... - 151,615 - MIhfnroT.ra~QO1., 9 10 935 Tons Total Tonnage May.............. 935 Total Tonnage April............. 4,076 Decrease........................ 3,141 OTHER COMMODITIES: TONS SHIPPED May April Inc. Decr. Leaf Tobacco. 852 Cigars & Cigarettes 542 Rope Shipment 1,153 Embroideries.. 310 Kapok.... 368 Furniture 1,749 Gums..... 295 Molasses. 2,622 Vegetable Lard Margarine 1,411 146 706 - 929 - 387 856 297 - 228 2 450 179 7,586 1,315 82 366 1,299 116 4,964 96 - Other Commodities not listed above 16,905 Tons (May), 15,367 Tons (April), Increase 1,538 Tons. SUMMARY OF TONNAGE DURING Honolulu Pacific Local Pac. Overland Atlantic Gulf MAY, 1941 U.S.A.,],, y y May.1941 Tons 632 46,664 4,560 152,399 18 May 1940 Tons 452 25,821 6,940 83,308 10,858.lJ.,tll~ llA >.t.oU. 29,300 171,097 LUZON BROKERAGE CO., INC. Derham Building MANILA P. 0. Box 591 Port Area Tel. 2-24-21 Licensed Cusroms Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen MANILA -- -- 40 The American Chamber of Commerce JoWr714 August, 1941 (

pacific Coast Canada Atlantic Coast " China 15 Japan 204 N. E. Indies Stiraits India 5 Eur'ope 3 Australasia Africa W. Indies, Central America, South America 1 1 1],( 2 i' 188 126 150 427 )51 6,700 859 141,404 260 853 144 688 173 20,931 878 1,055 59 1,525 importers, and distributed them for sale in all the provinces by means of a system of transportation and organization that pacifically placed in their hands all the resources of the country's economic life. Their stores came to occupy the most central streets of Manila and the provincial towns, giving them the aspect of a bit of old China herself, with the characteristic unkemptness and nauseating odors. Despised by all, contemned and maltreated by Filipinos of all classes, the Chinese attended strictly to his business, until he came to be so essential in the country's economic life that without him it was altogether para lyzed, like a stilled pendulum. The economic progress of the Philippines initiated and brought to measurable fruition by Filipinos during Spain's last century in the Islands, was stimulated by the liberal political regimen implanted in the Islands by America. Americans with their genius for the practical saw at once the importance of the Philippines' economic problems and consecrated their greater attention to their solution, with excellent and marvelous results. The Schurman Commission that came to the Islands in 1898 in the very midst of the Aguinaldo Insurrection effected,010 Total number of sailings during May, 1941-105 vessels of which 27 were American vessels. Translation From Dr. Palma * I L m~~~~ Continued from page 13 of comfort and the enjoyment of a higher type of existence. This condition changed at the close of the 18th century when through British pressure Manila became a port of free ocean commerce. The new foreign merchants negotiated directly with Filipinos for their products, and farmers received their share of the benefits originating from the advent to the Philippines of foreign capital. Spaniards were quite dismayed by the new trade and competition, the galleon trade succumbed; Spaniards organized instead, agricultural and industrial enterprises where Filipinos found employment, contributing little by little to the economic progress associated' with the latter decades of Spain in the Phi ippines, the foundation of relative social well-being that Filipinosi enjoyed in that period. Though Filipinos had sometimes been successful individually both in farming and in trade, it cannot be said that they learned from the Spaniard modern systems of organization and competent administration. Farming for the most part continued with its routinary methods of cultivati)n. and harvest; though it is true that sugar benefited by the introduction of modern machinery, there was much of the primitive in the system of extracting the juice from the cane and in the employment of hand labor. Nor did Filipinos learn the value of integrity in trade and the administration of corporate capital, and many corporations they founded perished like the blossom of a single day, the capital dissipated so that none could say where it had gone. Filipinos who took as models their neighbors in the Philippines, copied their defects and shortcomings. By default of the Filipinos and the Spaniards, Chinese monopolized the domestic commerce of the Philippines and constituted themselves the most indispensable commercial element in the archipelago. They controlled farm products by advancing funds to the farmers, and sold these Products to the foreign exporters; in exchange they bought stocks from the foreign T'he American Chamber of Commerce Journal August, 1941 41

a reconnaissance of the country's natural resources and noted the backward means with which they were exploited. The first steps of the American government were directed by choice to the advancement of the country's economic welfare by every possible means, additions to railway facilities, repair and construction of roads and bridges, the building of quays, wharves and warehouses for the loading and discharging of vessels of commerce, and other similar incentives that served to liberate the Filipino from the bonds of a tedious and backward economy. The constant increase of cultivated products in the Philippines and the volume of exports and imports demonstrate that the Filipino has not remained inactive, but has responded with enthusiasm to the new facilities offered his industry. America maintained liberty of commerce in the Philippines with all the w a protective policy respect mercial products, giving to the Philippines and fi on foreign goods that mif those manufactured in the Philippine products we entry into the United St; complete reciprocity, bec were imposed against the terial in Philippine me might be of foreign sour quantity of the exportatio tariff not wholly satisfac does not lack an explanai the interest of the sove: favor its commerce at th lony. (The maximum qu material admissible in a: pine manufacture marke the United States is 20' rorld, but adopted ing her own comthem free entry xing high duties ght compete with United States. 3re granted free ates, but without sugar and tobacco were under quantity limitations-so high that they never inter. fered with the expansion of production; and of course when the Commonwealth was created by congress in 1934, to be inau. gurated in 1935, some changes were made of which the Palma manuscripts take io account.-Ed.) ause restrictions The application of this tariff had the quantity of ma- effect in a few years of making America anufactures that dominant both in the imports and the exce, and the total ports of the Philippines. For example, n. This disequal while in 1900 China and Britain figured,tory to Filipinos at the head of buyers of Philippine exports, tion, it is always since 1905 America has had that position. reign country to In 1901, the value of Philippine exports e cost of the co- to the United States hardly reached P15,. antity of foreign 000,000 and in 1915 it was P100,000,000, rticles of Philip- while in 1920 it was P300,000,000. (Dr. ted duty-free in Palma is quite wrong here and has con%. For a time, fused total Philippine exports, or some data of that sort, with those to the United States - alone. In 1901, Philippine exports to the United States were valued at P9,000,000; in 1915, at P47,000,000, and in 1920, at P210,000,000.-Ed.) 2 eencda4le hSewce & 2"ali.a WA 54 J /g7RS/ A CARMELO & B UERMANN, INC. Adiiko~yiz. Pa* * / Pape4 &Lc Mi eAed Our commerce with Japan has also increased considerably, surpassing that with England with whom we have always had extensive trading because of our abaca, Manila hemp. Sugar formerly sold to China goes to America and Japan. Copra formerly taken by France now goes to America. America has also taken supremacy from Spain in the buying of Philippine tobacco. (In normal times, not of the leaf itself, but only in the purchase of cigars.Ed.) I I I Id4 gcmCeew PAxce"t 0 7ezk, k k. I= Luzon Stevedoring C( Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a nd Provisions SIMMIE & GRILK Phone 2-16-61 MANILA (The reader will not fail to note that Dr. )Pg I/^ ^ ~ Palma wrote some years ago, Japan no longer buys Philippine sugar, even in peace times, because the Philippines get the pre- - mium of the tariff America charges Cuba, in selling their sugar in the United States. Dr. Palma's contention that the tariff acts as they concern the Philippines explains the dominance of America as a buyer of ). iliC, Philippine exports and an importer of manufactures to the Philippines is the orthodox view taken in the Philippines, by Filipinos especially, but is not our view. Cultural influences have a lot to do in the case of the imports from America; the Philippines have become an English-speaking country, Filipinos naturally want the things appertaining to that culture. As to the exports, America simply needs them, or, in Ci)~~ ~ the case of sugar, will still buy, though she no longer needs, because years ago when 1i;~~ ~ she did need this sugar she encouraged its production. (Further translations from the Palma manuscripts will appear in later numbers of this magazine. This one is peculiarly suited to the August number serving as a commemoration of the date, August 13, 1898, on which America occupied Manila and Port Area Kaiser Wilhelm II was balked of his purpose to snatch up the Philippines as they fell from Spain's relaxing grasp.-Ed.) 42 The American Chamber of Commerce Jaurnal August, 1941 (

COMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING JUNE, 1941 WITH MAY, 1941, AND THEIR AVERAGE FOR THE LAST ELEVEN MONTHS COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORTS DURING JUNE, 1941 WITH MAY, 1941, AND THEIR AVERAGE FOR THE LAST ELEVEN MONTHS Groups of exports June, 1941 May, 1941 Average per month, July, 1940 to May, 1941 Groups of imports June, 1941 TOTAL EXPORTS.......... Animals, edible, total............ beat products, total............. Fish and fish products, total..... Animal products, inedible, total.. Other animals and animal products, total........................... Grains and preparations, total.... Veretables and preparations, total Fruits and preparations, total..... Nuts, total...................... Coconuts, coconut oil, copra, and other coconut products, total... Cacao and coffee, total.......... Sugar and related products, total Beverages, wines, and liquors, total Gums and resins, total......... Herbs, leaves and roots, crude, total Oils, other than coconut, total... Rubber and manufactures, total.. Plant dyeing and tanning extracts, total.......................... Seeds, total..................... Tobacco and manufactures, total.. Miscellaneous plant products, total Fibers and manufactures, total... Cotton, textiles, embroideries, and miscellaneous fiber products, total Logs, timber and lumber, total... Wood, bamboo, reed, and rattan manufactures, total............ Minerals and metals including gold and silver, total............... Medicinal and pharmaceutical preparations, total................ Chemicals, total.................. Explosives, total................. Soap and toilet preparations, total Miscellaneous, total.............. Foreign merchandize (re-exports), total........................... (Pesos) 28,239,743 1,230 56,592 32,214 6,765 4,202 2,840 139,067 72,320 7,523,483 4,227,932 29,540 56,268 4,900 28,545 64,460 2 630,269 1,040 3,300,189 799,387 466,697 59,780 9,735,837 716 82,743 42,164 87,160 783,401 (Pesos) 36,218,764 1,392 65,678 313,711 260 31,007 2,700 140,952 60,447 7,688,714 10,564,483 16,792 148,410 1,613 5,330 62,611 13 100 549,205 641 3,911,177 839,756 671,085 87,452 9,719,382 1,244 112,698 16,303 85,999 1.119.619 (Pesos) 27,614,754 588 97 45,505 81,936 359 15,658 3.217 272,906 36.445 3,934,305 1 7,849,191 29,867 47,775 3,883 4,693 79,58.3 5 202 750,194 1,271 2,932,732 851,030 692,550 61,346 8,784,241 2,829 22,906 18 15,945 73,825 1,019,651 TOTAL IMPORTS.......... Animals, total................. Meat products, total............. Animal oils and fats, edible, total. Dairy products, total............ Fish and fish products, total.... Other edible animal products, total.................... Animal products, inedible, total.. Other inedible animal products, total............................ Grains and preparations, total... Vegetables and vegetable preparations, total.................... Fruits and fruit preparations, total............................ Nuts and nut preparations, total. Vegetable oils and fats, edible, total............................ Cocoa, coffee, tea, total.......... Spices, total..................... Sugar, molasses, syrups, total.... Beverages, wines, liquors, total Rubber and manufactures, total Gums, resins, oils, total....... Roots, herbs, barks, etc., total.... Tobacco and manufactures of, total Seeds (except eil seeds) and nursery stock, total.............. Miscellaneous vegetable products, total........................ Manufactures of straw, rushes, and palm leaf, total............... Textiles, fibers, and manufactures of, total...................... Wood and manufactures of, total Cork and manufactures, total.... Paper and manufactures, total... Non-netallic minerals, petroleum, etc., total...................... Metals and manufactures of, total Chemicals, drugs, dyes, medicines, total.......................... Fertilizers, and fertilizer materials, total.......................... Explosives, fireworks and ammunitions, total.................... Pigments, paints and varnishes, total........................... Soap and toilet preparations, total Miscellaneous, total.............. (Pesos) 27,356,818 202 149,854 2.734 885,758 285,528 26,398 418,904 25,432 1,805,364 398,896 250,428 6,580 78,298 233,932 5,362 119,650 220,160 572,222 94,114 95,564 1,745,582 10,300 32,050 3,452 6,127,680 73,976 1,574 1,077,020 3,250,738 5,747,912 1,158,838 59,824 1,210,946 250,094 208,226 723,726 May, 1941 (Pesos) 26,790,464 3,668 140,418 3,522 1,286,616 294,996 7,722 487,846 35,724 1,505,264 266,852 251,390 3,960 16,642 319,618 1,166 166,030 223,928 772,882 104,038 61,064 1,630,578 10,280 28,404 3,598 6,668,622 86,414 2,194 1,476,750 2,373,932 5,777,248 1,179,566 10 34,718 234,764 448,526 882,634 Averas per month July, 1940 to Mav. 1941 (Pesos) 21.33,682 11.011 187.022 2.791 883.732 248.066 18.924 321.531 21.831 1,098.576 348.022 261,786 12,905 35.418 314,063 4.672 121,868 111.310 508,714 62.298 47.056 1,309,823 7,909 22,232 3,795 4.385,725 75,008 5,199 1,081,244 2,408,084 5,161,210 741,916 354,541 222,995 160,328 240,756 583,329. I I I TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: JUNE, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL EXPORTS........... 28,239,743 100.0 American........................ 11,859,922 42.0 'ail............................. 8,536,343 30.2 Norwegian....................... 3,322,142 11.8 Japanese......................... 2,914,554 10.3 Philippine........................ 822,939 2.9 British........................... 442,489 1.6 Dutch............................ 338,907 1.2 Aircraft......................... 2.447 (1) (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: JUNE, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL IMPORTS........... 27,356,818 100.0 American........................ 18,439,214 67.4 Norwegian....................... 4,026,624 14.7 Dutch............................ 1,767,138 6.5 British........................... 992,926 3.6 Japanese......................... 850,312 3.1 Mail............................. 755,174 2.8 Philippine........................ 420,410 1.5 Panaman....................... 77,246 0.3 Aircraft.......................... 26,364 0.1 French........................... 900 (1) Chinese.......................... 510 (1) (1) Less than 0.1 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: JUNE AND MAY, 1941 June May Per cent Per cent increase(Port of entry Value of Value May to (Pesos) total (Pesos) June TOTAL IMPORTS........... 27,356,818 100.0 26,790,464 2.1 Manila........................... 25,252,344 92.3 24,560,704 2.8 Cebu............................. 1,128,898 4.1 1,444,776 - 46.4 Iloilo............................ 269,330 1.0 502,856 - 21.9 Davao........................... 98,534 0.4 259,742 - 62.1 Legaspi.......................... 7,614 (1) 6,414 18.7 Jolo............................. 25,334 0.1 3,832 561.1 Zamboanga....................... 42,170 0.2 11,990 251.7 Jose Pafiganiban................ 532,594 1.9 132 (2) Aparri........................... 18 - 100.0 @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. (2) Over 1000 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: JUNE AND MAY, 1941 June May Per cent Port of origin Value of Value May to (Pesos) total (Pesos) June TOTAL EXPORTS........... 28,239,74. 100.0 36,218,764 - 22.0 Manila........................... 18,454,977 65.4 18,734,792 - 1.5 Cebu............................. 3,503,322 12.4 5,351,116 - 345 Iloilo....................... 2,083,213 7.4 8,406,957 - 75.2 Davao........................... 1,842,475 6.5 1,647,984 11.8 L.gaspi.......................... 593,675 2.1 160,473 270.0 Jolo............................. 5,019 (1) 2,345 114.0 Zamboanga...................... 477,733 1.7 432,089 10.6 Jose Paiganiban................. 1,279,329 4.5 1,483,008 - 13.7 @ A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. the American Chamber of Commerce Journal August, 1941 43

FREIGHT REVENUE CAR LOADING RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company -1 --- -- I I --- S o The freight revenue car loading statistics for four weeks ending June 21, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of March, April, May, and June 1941, via the Manila Railroad Company is as follows: NUMB COMMODITIES FREIGH 1941 Rice................. 517 Pal: y................ 69 Sugar................ 277 Sugar Cane......... Copra.............. 502 Coconuts............. 148 Molasses............ Hemp................ 5 Tobacco.............. 2 Livestock............ 41 Mineral Products.... 195 Lumber and Timber. 331 Other Forest Products Manufactures........ 336 All Others including L.C.L.............. 2,574 TOTAL.......... 5,002 ER OF T CARS 1940 426 48 201 576 60 24 17 371 375 3 199 2,523 4 823 I F'tEiGHT'l TONNAGE 1941 1940 _ 7,535 6,052 1,045o 598 8,3771 6,233 5,768 5,807 2,168 569 47 - 17 213 343 149 2,500 3,172 9,113 8,776 40 42 5,270 2,777 24,625 19.795 66,848 54,183 Increase orDecrease Cars Tonnage 91 1,483 21 447 76 2,144 ( 74) ( 39) 88 1,599 5 47 ( 22) ( 196) 24 194 ( 176) ( 672) ( 44) 337 2 ( 2) 137 2,493 51 4,830 179 12,665 3 3 COMMODITIES MARCH APRIL MAY JUNE Rice, cavanes.................... 155,913 124,236 140,315 123,382 Sugar, piculs.................... 744,382 173,159 48,753 126,624 Copra, piculs................... 105,163 107,447 178,108 128,744 Desiccated Coconuts, cases........ 61,869 61,982 85,078 99,664 Tobacco, bales................... 848 68 781 1,170 Lumber, board feet.............. 2,970,101 2,535,167 2,898,630 3,823,493 Timber, kilos.................... 499,000 1,774,000 1,734,000 1,707,000 SUMMARY Week ending May 31 1,328 1,224 16,587 14,9571 104 1,630..." June 7 1,177 1,197 14,578 11,976 ( 20) 2,602 14 1,244 1,274 17,279 15,035 ( 30) 2,244 "_ "_ "_ 21 1,253 1,128 18,404 12,215 125 6,189 TOTAL........ 5,002 4,823 66,8 18 54,183 179 12,665 NO'TE-Figures in parenthesis indicate decrease. Foreign Exchange Review (June 24th to July 23rd, 1941) By J. Rapoport The period under review was featured by a rapid improvement in the dollar-peso rate, which continued to rise almost as fast as it dropped during the preceding period. There were two major factors responsible f o r t h i s; improvement of the cash position of the banks and the shrinkage in the value of export bills offered, particularly sugar bills. Lack of shipping space continued to be the big problem facing exporters and until it is solved there will not be much exchange cover available to the banks. It will, no doubt, have an adverse effect on the import trade as well, though not to the same extent, since a boatload of imported cargo consisting of manufactured and semi-manufactured goods is worth in value several times that of a boatload of sugar. The market opened with good buyers of ready dollars at 1/4% pr., moderate interbank business being done at that rate. Sellers were generally quoting 5/16% pr. for ready and 3/8% pr. for three and four months forward delivery. During the following days persistent buying of dollars by several banks pushed spot rate up to 5/16% pr. then to 3/8% and at the end of June there was even an interbank transaction recorded at 7/16% pr. Meanwhile forward rate advanced to 1/2% pr., thus narrowing the difference between spot and forward quotations to only 1/161%. Beginning of July witnessed return of the old interbank rate of 1/2% pr. sellers of ready dollars, with buyers at 3/8 and 7/16% pr. Interbank transactions became small and isolated and with the exception of a few change-overs the market became stagnant. Four and five month changeovers were closed at even rates, i.e., without any penalty whatsoever. Towards the end of the period under review the market showed sign of easiness, as there appeared more sellers of ready dollars at 7/16% pr. at which fairly large interbank sales were booked. The market closed with the following interbank dollar quotations: Small sellers at 7/16% pr., good buyers for spot at 3/8% pr. and good buyers of future dollars at 3/8% pr. Merchants' rates 5/8 to 1/2%' pr. for clean T/T selling, 1/4%c pr. for clean T/T buying and 1/4% discount for 60 days after sight bills. I BUSINESS AND PROFESSIONAL DIRECTORY I CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Investments Collections Income Tax 560 Taft Avenue Manila, P. I. I I -I I 44 The Amercan Chamber of Commerce Journal August, 1941 (

i THE AMERICAN CHAMBER OF COMME RCE: J OHUR NAL 0E.: MAN ILA, PHI LIPPINES. XXL, NO. 9 SEPTEMBER 1941 f:::::II.:: ~.: ii: 35: C

* I 10 Full Years Of Trouble- Free Economy ~~C~-~J~ Io~o The 10Year Unconditional Guarantee which accompanies the SERVEL Electrolux Refrigerator is based on the actual experience of far more than a million families who have used the SERVEL. Add to this every modern convenience, greater flexibility in interior arrangements, varying temperatures for different food products, and exquisite beauty. No wonder people prefer it. I Here's to your greater enjoyment! A grand drink that brings you new delight because it's different. Made with Schenley's Golden Wedding - the finest American Whiskey. Ask for it anywhere! Si(ie Agents: TIIlI MAn NILA WINE MERCIIAN'TS, INC. l.argest Wholesale and Retail l,iqtor Dcalers tn the 1'. 1. Head Office Retail Brnnch Office 174 Juan Luna 87-39 Calle Alhambra Tels. 4-90-57-4-.(0-58 Tel. 2-17-61 m a Il I~rll MANILA GAS CORPORATION I __ I I I

P3RIDICAL ROSM MINERALIARPANVU UNIV. up au 1.-.- t e-7, D. H. Soriano -Division of Publications, Department of Agriculture and Commerce. "A few years ago you published a series, written by you, of historical articles on old towns and churches around Laguna Bay, particularly those in the province of Laguna. We want, with your permission, to refer to these articles and wish to get the correct date and volume of the Chamber of Commerce Journal in which these articles appear." (As a man's life is reckoned, it was more than a few years ago that we wrote our series of papers from authentic chronicles of the friars and the Jesuits on the Philippine Mission Trail, a portion of which leads through Laguna. We have referred Mr. Soriano to our files and told him to help himself.) Eloise ReQua -Director, Library of International Relations, 86 Randolph St., Chicago, 11. "We have been receiving issues of the American Chamber of Commerce Journal spasmodically from Carroll Binder of the Chicago Daily News. I wonder if it would be possible for you to put us on the mailing list to receive that Journal regularly? It is very useful and also very attractive, so we regret having missing issues when we come to binding the periodical. "I enclose a list of some of our publications on Central and South America in order that you may have an idea of the type of collection we are building up. "Hoping that you will be able to send us the Journal and if other publications come your way which you think would be of interest here we would be very glad indeed to have them." (We are sending the Journal, suggesting that this is a most worthy and useful library and that other publications place it on the complimentary list). Clara M. Brewster -Diet and Health Digest (Beverley Hills, Calif.) (Because of the emergency situation we give our letters space to Miss Brewster's soy bean tract.-Ed.) Perhaps as old as man's search for the Fountain of Youth is his quest for the Perfect Food, that magical substance which would bring back strength to bodies worn by labor, and which would replenish the blood, hone and muscle used up in the battle for existence. Furthermore, it would do all that alone! Like the Fountain of Youth, the Perfect Food is a myth. There is, however, a well-nigh ideal substitute. It is 5,000 years old, yet fully appreciated only so recently that it can well be called the food of to L LUZON BROKERAGE CO., INC. Derham Building MANILA P. 0. Box 591 Port Area TeL 2-24-21 Licensed Customs Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen A a I HALLICRAFTERS WORLD'S LARGEST BUILDERS OF COMMUNICATIONS EQUIPMENT --------- - ' f The SKY BUDDY I The new SKY BUDDY is an amateur receiver in SIX MODELS TO SELECT FROM every respect, covering Model No. Description Tubes Retail everything on the air S-19 R Sky Buddy 6 P150.00 from 44 mc. to 545 kc., S-20 R Sky Champion 9 215.00 including the 10, 20, 40, SX-25 Super Defiant 12 460.00 0 and 10 meter am SX-28 New Sky Rider 28 15 730.00 80 and 16 meter ama - 29 Sky Traveler 9 245.00 teur bands. It now em- EC-I Echophone 6 100.00 ploys the same electrical bandspread system used in higher priced Hallicrafter models. The more important features are: Electrical bandspread, broadcast band, BFO, AVC switch, phone jack, pitch control, built-in speaker. Liberal Discount for Cash F. H. STEVENS & CO. Sole Distributors 227 DAVID-MANILA I I I1'1 I I IIII I I III I I -]i. I The American Chamber of Commerce Journal September, 1941 1

LL HANSON, ORTH & STEVENSON, INC. MANILA CEBU DAVAO IMPORTERS * EXPORTERS STEAMSHIP AGENTS INSURANCE AGENTS A morrow. This food is the Soya Bean -a four-qstar tiny seed, with one star for its exceptionally fine and and healthful chemical composition, one star for its cheapness, one star for its taste and the final star for its adaptability which makes it a blessing to every health-minded housewife! In the Orient, the Soya bean takes the place of meat, eggs., milk, cheese, butter and wheat. Over its supply, wars have been fought. On a diet of it entire races have been nourished and have thrived. To approximately half the population of the world, it is food and drink day in and day out. And it is no wonder. An analysis of the chemical composition of the Soya bean shows that it is composed of 40 % protein, 20c% fat and the rest is balanced carbohydrates and minerals. Also, recent research has shown that the Soya bean contains all the vitamins, both the fat-soluble and the water-soluble. This explains two things: First, why the Soya bean can be eaten by the very young as well as by the very old, by the very sick as well as by the healthy. Secondly, why it can be prepared in such a variety of ways that one could feast on several very different tasting dishes at a single meal and still have eaten nothing but Soya beans. The Soya bean is a complete vegetable protein containing all of the amino acids in assimilable form; one Li - Know before you paint what the result will be ELIMINATE guesswork when it comes to the important matter of redecorating your home. Consult the Sherwin-Williams Color and Style Guide and see for yourself exactly which color scheme will look best. This guide shows giant color illustrations of scores of home interiors and exteriors. SHERWIN-WILLIAMS PAINTS To obtain a beautifying, enduring finish choose, Sherwin-Williams Paints, Varnishes, Enamels and Lacquers. American Hardware & 125 Escolta W, Plumbing Co. I, _ __ 2 The American Chamber of Commerce Journal Septeember, 194

pound of Soya beans equals the protein value of two pounds of beef, which is much more expensive. Also, quite the opposite of meat, which is highly acid forming, the Soya bean is alkaline, possessing more than twenty times the alkalinity of cow's milk. Milk made from Soya beans not only resembles cow's milk in appearance and food value but is actually richer in calcium, phosphorus and iron. Not only does Soya milk contain more calcium, but during the process of digestion it breaks up into finer curds, thus furnishing more assimilable calcium. Also, this complete vegetable milk contains no putrefactive bacteria, and, contrary to all other proteins, does not putrefy in the intestinal tract. Instead, it actually combats putrefaction of other foods by supplying the protective bacteria, bacillus acidophilus, in liberal quantities. Soya bean milk is easily made, may be used in any way that ordinary milk may be used, and may be substituted, cup for cup, in any re'cipe calling for cow's milk. For example, clabbered Soya bean milk makes delicious flapjacks; it gives these the so-called "flannel texture" which is so greatly desired and so seldom attained. Perhaps our youngest children, our infants, will be introduced to the Soya bean before we make its acquaintance. Some babies, every mother knows, are sensitive to any kind of milk-mother's milk as well as cow's milk. These babies cannot assimilate milk and break out in nasty rashes when parents or physicians unwittingly force it upon them. But now science has perfected a milk substitute, the basis of which is Soya bean meal, that these peculiarly sensitive children can tolerate. The oil of the Soya bean is very palatable and may be used in salads or in cooking much as one would use butter. Soya oil under intense heat, however, becomes a bit "gummy" and if used for frying or oiling baking dishes may often result in the food sticking to the pan. Solidified Soya oil looks like the finest of snow-white cooking compounds and used in pastry is a perfect substitute for lard and other kinds of indigestible shortening. Being rich in the "butter vitamin" A, this white Soya compound, if colored with a bit of carrot juice and seasoned with a little Vege-Sal, will have, in appearance and in food value, the essential virtues of fresh butter. Delicious flour is made from Soya beans. When combined with whole wheat flour, or flour made from other natural grains, it adds richness of flavor and food value. A cook in one of the big lumber camps told me, in an interview, that she always adds Soya bean flour to everything she bakes. She said, "Men like it better when I add this flour to everything, including pancakes." She knew nothing of food values, but she appreciated the importance of taste and flavor! Soups may also be made richer by the addition of Soya bean flour. Toasted Soya beans resemble peanuts in flavor and are very popular as a crunchy pick-me up at luncheons and bridge games. They make a delightful novelty in children's lunch boxes and, when finely ground, make a delicious "nut butter" for sandwiches. They also add character to salad dressings. Coffee and chocolate substitutes, alkaline in reaction and minus all harmful stimulants, can- be made from the toasted Soya beans. Toasted Soya flour has a nut-like flavor and may be added to muffin, waffle and "flap-jack" recipes, as raw Soya flour requires more cooking than is usually g~iven to "quick breads." Sprouted Soya beans are an excellent food. When the plant is three quarter ripe, the seeds are palatable and nutritious green vegetables, used in the same way as peas or litna beans. They are easy to shell after boiling in the pods for five minutes. The boiled beans may also be served split in soup or served cold in a salad. They make delicious backed beans. Since they have no starch, they do not fall apart. Wilt some of these sprouts three minutes in melted butter, then fold them into an omelette and you will have a new and exciting taste thrill. One of the most popular foods made by the Chinese from Soya beans is "Tofu," a cheese much on m E --- The next time you light a match... stop and think of the havoc a tiny flame could cause if it got beyond control! It could destroy your house and everything in it. Some things you could replace, but others-never. Take no chances with fire. Keep your valuables in a safe deposit box. Rates are very low. PEOPLES BANK AND TRUST COMPANY 605 DASMARIRAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac The American Chamber of Commerce Journal SPfte,,leer, 1941 3

the order of our cottage cheese. Pressed into small cubes to combine with stews and casserole dishes. Or it can be sliced, rolled in egg yolk and crumbs and browned in butter. The latter dish, served with a slice of lemon and a sprig of parsley is delicious and a good imitation of fillet of sole. Soya cheese, made in curds, like cottage cheese, may be used in salads and other recipes calling for cottage cheese. There are 250 varietes of soya beans! Also, there are new health values discovered for them all the time. The latest of these is that the soya bean takes the laurels away from egg yolks by supplying, inexpensively, that rarest of all oils, lecithin, which is essential for the nutrition of brain and nerve cells and which. is found in only a few other foods on this earth. In China and Japan the soya bean has been a bulwark against deficiency diseases-it has given our Oriental neighbors a resistance and longevity which can be in large measure attributed to the nutritive and health protecting values of the Soya bean. We in th-e West should take a cue from the East which pays tribute to the Soya bean as a four star food. L - Here's how to get Manilas! -II Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! List of D i strib u tors furnished upon request to -I PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the 'actories of Tobacco Products "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". - 4 The American Chamber of Commerce Journal September, 1941

I 1.,..R 'l-,-;.'...:.. i., 1. I.., I.: -.-e I 11.. A I - `:~~h ~~ j,: r X: x:".PI~ 149 -- I 1.:. 't, 114 a Mavnila Tribune Photo Lieutenant General Douglas MacArthur, U. S. A., commanding the Army in the Philippines and the Far East, at salute as the Air Corps of the Philippine Army is mustered into the United States service, the first step in assimilating the Philippine Army into The Americamn Chamber of Commerce Journal September, 1941 5

the Far Eastern Forces. This was followed by induction of 25,000 troops of the Philippine Army into the service. Step by step the 2 armies will be amalgamated into one, the American army in the Philippines, where General MacArthur heads the largest number of army commanders of general rank that has been on duty in the Philippines in the past 35 years. The great body of his command is the army he created for President Quezon while heading, for 5 years, the U. S. Military Commission to the Philippines. It is about 125,000 men, not only already here and fired with patriotic zeal to defend the country, but rationed on rice, and able to campaign on this tropical diet, and at least from the viewpoint of health, in tiptop condition. Below appear the pictures of American officers of general rank on duty with the United States Forces in the Far East, in the Philippines. On the opposite page appear pictures of Major General Basilio J. Valdes, P. A., and officers of his staff. Mention of General MacArthur's career appears among our editorials. Photo., on this paqe bh U. S..A -— I~- Mlrr _. Maj. Gen. George C. Grunert, U. S. A., commanding the Department of the Philippines. Brig. Gen. Richard K. Sutherland, U. S. A., General MacArthur's chief of staff. Brig. Gen. Henry B. Clagett, U. S. A., commanding the air force of the U. S. Army Forces in the Far East. Brig. Gen. George M. Parker, Jr., U. S. A., infantry adviser, Philippine Division, U. S. A. 'i~- -— r --- AW Major General Jonathan M. Wainwright, Brigadier General Edward P. King, Jr., U.S.A. U. S. A. Commanding General, Philippine Division, General King commands Fort Stotsenburg. U. S. A., Fort Wm. McKinley. Brigadier General George F. Moore, U. S. A. General Moore commands the harbor defenses of Manila and Subic bays. 6 The Amcrican Chamber of Com nercc Journal September, 1941

Major General Basilio J. Valdes Chief of Staff Brigadier General Vicente Lim Deputy Chief of Staff Colonel Mateo Capinpin Commanding Officer, Ist Reg. Diy. Colonel Juan C. Quimbo Assistant Chief of Staff, G-2 Colonel Pastor Martelino Assistant Chief of Staff, G-3 Colonel Miguel Aguilar Assistant Chief of Staff, G-4 *,: s... ' v. ' *.... Lt. Col. Luis Ramos The Adjutant General Lt. Col. Irineo Buenconsejo Assistant Chief of Staff, G-I Lt. Col. Simeon de Jesus Assistant Chief of Staff, WPD Captain Donato M. Halili Assistant Chief of Staff, BD 2'Th Amcrican Chamber of Commerce Journal Bc'Ptemtbcr, 1I41

Progress Of The Large Estates Question The large-estates problem in the Philippines is among the more involved problems confront. ing the administration. Many factors in it are old, reaching back in memory and hearsay. This page summarizes how it is be handled. Under authority of the Commonwealth constitution and a number of laws, Malacafian has got well into the business of acquiring large estates, a number of them from the Church, and dividing them into plots, or lots here in town, and selling these fields and homesites to the occupants on long-term payments. The movement began in actual earnest October 7, 1937, when Administrative Order 49 created the Landed Estates Survey Committee with Ex-Senator Ramon J. Fernandez in the chairmanship. Through recommendations of this committee, a number of estates have been acquired. The work continues, there will of course be additional purchases and expropriations. Senator Fernandez is widely, recognized as a happy choice for such exacting research. He is rather' well versed in land values and land earnings in regions of Luzon where many of the estates exist, and is a good man at bringing opposing parties to terms. Other phases of the problem required the services of full-time men, these phases relating to actual administration of the estates, getting them surveyed and plotted up, and contracting with tenants to purchase the plots. Politics was not absent here, also Old Grudge put in a frequent appearance; and tenants would often balk at buying, alleging, for example, that anciently the land in question had belonged outright to their forefathers and that they were rightful heirs. In this predicament President Quezon got hold of the services of a couple of confreres from the oldtime Bureau of Non-Christian Tribes, young Jose Sanvictores, and Ex-Senator Ludovico Hidrosollo. A new entity was created, Rural Progress Administration, March 2, 1939, where Senator Hidrosollo was placed as general manager. (Act 378: Executive Order 191). Sanvictores tackled the big estate, Buena Vista, in Bulakan, embracing practically 3 towns, San Ildefonso, San Rafael, and Bustos and comprising 27,408 hectares. Nasugbu, in Batangas, is the only estate we know of that at all matches Buenavista in size. Here the government didn't go the whole hog. It leased Buenavista (an endowment of the Hospicio de San Jose) for 25 years, with option to buy during that period. It paid P100,000 rent the first year, a sum that increases by P2,000 a year during the lease. Then it sublet to tenants on similar terms. There are 3,400 lessees, of whom 1,547 have San Ildefonso tracts, and 1,853 tracts lying either in Bustos or San Rafael. But the intention is to buy the estate, and sell it of in plots to tenants; out of 3,400 tenants, Sanvictores has procured agreements from 2,824 of them to buy when the time comes. Under terms of a financing contract effected between Rural Progress Administration and Buenavista Farmers' Cooperative Association, the association administers the estate through a board of 15 members, 3 tallied off by Malacaian, 12 elected by the stockholders, that is, the lessees in the association. Aside from this there is a manager: there is Dr. Jose Sanvictores, the nominee of the Rural Progress Administration. The association has a number of cooperatives going: poultry, swine, fish, fruit trees, ricemills, warehouses, and a store. A growing satisfaction seems to prevail among the tenants, but we believe Dr. Sanvictores has his hands full in managing the whims and honest desires of so many claimants. Rural Progress Administration gave a million pesos outright for Bahay Pari estate at Candaba, Pampanga, rice lands of 2,189 hectares worked by 400 tenants. If this estate is all fit for rice, it will domicile more than 400 families. Subletting was followed during the past crop season, but it has been decided to sell plots to bona fide farmers on the estate. Buenavista's cooperatives are not duplicated at Bahay Pari. There may be some interest in how the purchase of an estate gets turned down. An estate in Manila was offered at P170,000. Administrative costs in, Rural Progress Administration would have had to ask P9.26 per meter for lots in this estate. The finding was that more than 90%, of the tenants could not buy at such a figure, and thumbs went down on the purchase of it. Up to May 21, Rural Progress Administration had the following: Marikina Homesite, in Marikina, nearly 109 hectares in 2,435 lots, cost P304,405.64, from the Tuasons, a rate of 28 centavos per square meter. Dinalupihan Homesite, at Dinalupihan, Bataan, around the shoulder of Manila bay, by expropriation from the Monte de Piedad and Savings Bank. This comprises almost exactly 100 hectares; including damages paid certain planters on the property, it cost P100,028.82. It has been subdivided for resale into 2,250 lots. Tunasan Homesite, in San Pedro Tunasan, Laguna, 217 hectares acquired from San Jose College for P414,855 and divided into 2,912 lots for resale to occupants. Bahay Pari Estate, already mentioned. Santa Clara Estate, in Sampaloc, Manila, acquired from the Clare Nuns, for whom it was a support, for P142,350, an area of a little more than 5 hectares, 50,533.8 square meters. Under escheat or expropriation proceedings are the following: Baclaran Estate in Paraiaque, 330,758 square meters. Ana Sarmiento Estate in Malate, 231,397 square meters. Nuestra Seiora de Guia Estate in Tondo, 22,948 square meters. Capellania de Tambobong in Malabon, 900,532 square meters. A homesite parcel of land in Tuktukan, Tagig, Rizal; also Laryuhan, a similar site in Gapan, Nueva Ecija, 10,565 square meters, and further, 36.52 hectares of the Lian Estate in Lian, Batangas, used as the homesites of a village. (The Lian Estate deal has since been consummated). Distribution of Marikina homesites began in October 1939, P57,000 had been collected from long-term buyers up to May 21, this year. At San Pedro Tunasan, P2,705.92 has been collected, and P1,317.89 at Di-, nalupihan. Bahay Pari, divided into 690 lots, is being distributed by the estate manager to buyers in a certain order of preference set by the directors, a crypticism that we believe may signify that tenants have the refusal of their lots. Publicity has almost ceased that bore on problems with the tenants on these various estates, indicating that the management is making a go of it. 8 The American Chamber of Commerce Journal September, 194'

Hazards Of Philippine Coal Mining By George H. Miller * The Philippines are undergoing a coal boom due to World War II, in particular Cebu. Other sections too, where coal is being mined, share the benefits of the boom, but not to the same extent. Cebu yields the largest tonnage. The increasing production augments the inherent hazards of coal mining out of proportion to the additional coal produced. While to the layman all mining is of a similitude, regardless of the product mined or the method used, there is in fact vast contrasts between coal mining and hardrock mining. The principal hazards of coal mining in the Philippines classify under 5 general headings-mine explosions, mine fires, bad ground conditions, gases, poor ventilation. Due precaution will reduce to a minimum the hazards of each. The most tragic hazard is the explosion of a mine, attended as it is by the most general disaster and the greatest toll of life. It is caused by ignition of an explosive or volatile mixture of gas, methane, or by ignition of coal dust held in suspension in the air, or by a combinaction of these conditions. Often, a pocket of gas is ignited and explodes; it may be very limited in the mine area, doing slight damage and only snuffing out the lives of miners in its immediate radius. But a rapid expansion of air follows the concussion, and if the mine is dry and dusty, coal dust is thrown into the air in suspension, and it ignites and explodes. Coal dust is as explosive as gunpowder when held in suspension in mine air, and an initial explosion stirs up more coal dust which in turn explodes. Thus will an explosion gather momentum and travel through an entire mine, especially if the mine be dry, killing or maiming all in its path and spreading property destruction and havoc in its wake. First you have the explosion, then a second and perhaps a series of exPlosions that all sound as one. Frequently, and very fortunately indeed, certain sections of the mine are wet -the explosions do not spread into them. If a miner escapes the violence of the explosions, there is the probabil-:George H. Miller is the chief mine insl)ector of the Philippine Bureau of Mines, and has had wide experience in his professional capacity in coal mines in the United States, Alaska, and the Philippines.-Ed. ity that he will succumb to what is termed after damnip, the gas generated by the explosions. It consists largely of a mixture of air (oxygen and nitrogen), carbon monoxide, one of the most deadly gases known, and carbon dioxide, with small portions of other gases depending on what material has been burned. It is the carbon monoxide that kills, when it is breathed it displaces the oxygen in the body and the victim passes slowly into unconsciousness, then death. It is painless and hardly perceptible; men have been found in the attitude of eating their lunch in mines, dead from carbon monoxide. They never knew what happened. The force and violence of an explosion in a mine are inexplicable. This is evidenced in what they do to bodies and inanimate objects. At the scene of one explosion, 2 25-gallon drums lay within 5 feet of each other. One was blown up like a balloon, the other pancaked almost flat. Similar instances are of record in which human bodies were dealth with in equally erratic manner, unbelievable and unexplainable. What could cause a spark that would engender such catastrophe? Carelessness, principally, is the answer Someone's sneaking off to a dead-end or somewhere else, to steal a smoke, and in lighting his fag, setting off the lurking gas; or an electric spark from a shorted wire or defective equipment; or a blownout shot; or a spark generated by metal or some other hard surface; or fire itself, from spontaneous combustion of the coal. In 6 explosions that occurred in the United States during 1940, 276 men were killed. In all 6 explosions, some methane played an active part. In fact, investigation indicated that no less than 5 of the explosions probably resulted from the ignition of methane, and 1 was caused by someone's smoking. Four were set going by electric arcs, and 1 by a heavy charge of explosives, a blownout shot, igniting coal dust and some methane; and of the 276 victims, at least 80, and probably more, were killed by carbon monoxide. Mine fires are often as disastrous to property as explosions are, and sometimes more so, though they take fewer lives. They too may be started by explosions, shorted wires, carelessness with an open light (carbide lights are used in nongaseous mines), blown-out shots, burning dynamite in a drill hole, or by spontaneous combustion, as has been witnessed in the Philippines. There is a dirt streak in several of the major coal seams in the Philippines. It is a mixture of dirt, shale, carbonaceous material, and pyrite-this last a form of sulphur. If mixed with the coal, this dirt streak ups the ash content and lowers the thermal units or heat value. When the coal is not washed, the dirt streak is generally mined separately and hauled out as waste. If gobbed, i. e., allowed to remain inside the mine, by [Continued on page 20] Washing fine or slack coal by crude trough washer. The Amlerican Chamber of Commerce Journal St'lPtck'bcr, 199 5 9

American Chamber of Commerce of the Philippines DIRECTORS: ALTERNATE DIRECTORS S. F. Gaches, President C. M. Hoskins E. D. Gundelfinger, Vice-P'res. C. M. Ivory Robert E. Cecil, Treasurer E. Byron Ford P. A. Meyer A. P. Ames J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary COMMITTEE S: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Oundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chai)rman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs 1. A. Perkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY. PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman E. Bradley Fairchild J. Traynor J. P. liggett J. A. Meacher F. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. T. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE IH. Dean Hellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Ilerbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoe —Leather-Rattan) S. M..ones (Sugar) J. L. Hlendington (Buttons) Iteiibhn Mnrgulies (Embroideries) M. S. Kettler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. T. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. I. Silen J. P. McPherson H..T. Heesch M. S. Kestler R. IL. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W..J. Bunnell H. Dean Hellis T. Kevin Mallen A. P. Ames L. M. Hausman H. L. Suarez be considered in the large, and by every means the sugar should be moved to market, to avoid a credit calamity such as descended on this country 20 years ago and made it hard for even the banks to carry on. It is also of course true that the Philippines must take the large view of the question, they cannot hope for timely commercial tonnage for their remaining 1941 sugar if it is not to be had. But we lay before Mr. Grady the sociological phase of the question, just plainly how stomachs are to be appeased if sugar is not sold from the provinces where sugar is the crop of life. To say that this sugar should have been supplemented with other crops years ago gains nothing by way of solutions, time is water under the bridge. In the circumstances, sugar-marketing has its claims as a war measure. Now to go back to the current public revenue. If we recall rightly, the budget supposed that the fiscal year's revenues would be off from 1939-1940 figures by at least P10,000,000. It was seen that customs collections would be lower than 1939-1940's by quite a lot because shipments from Europe would not be arriving in quantity and those from Japan would be lower, the volume duty free from homeside would be higher. Here is the actual comparison: 1939-1940 customs collections were P50,382,993, and 1940-1941 customs collections were P43,098,641. The difference is P7,284,352. That constitutes no crisis. But instead of being lower during the fiscal year closed with June, internal revenue collections were actually a great deal higher than for the previous fiscal year. They were a round total of P80,437,816, as compared with P74,858,920. The difference, here in favor of 1940-1941, is P5,578,896. Customs and internal revenue together, commonwealth revenues were off only P1,705,456; that is, they are off about 1 %~ from the previous year instead of the 102.c that was feared, and the internal revenue bureau is to be congratulated on its work. A great deal of the collections increase derives from collection of delinquent taxes. Income tax collections were P15,565,879 against the previous year's P11,991,954. Our data are from Paul P. Steintorf, the American trade commissioner. We take them as official. Higher values for exports during the fiscal year (especially January to June) were due in part to higher commodity prices, and in the case of minerals, both to higher prices and to larger tonnages and gold shipments. Imports were almost equal in value in 1940-1941 to imports during the previous fiscal year. Here are the overseas figures from the Bureau of the Census & Statistics, January to June, 1940 and 1941: BUTTER The Philippine government took a gloomy view last year of the probable revenue the fiscal year July 1940 to June 1941 would yield the public treasury. This magazine did not. It estimated in January this year that barring a visitation of war, overseas business would be up 20% in value over overseas business for 1940. It seems now that this estimate will prove to have been conservative, though sugar is a great factor in the exports as it has been for more than 20 years. No doubt the sugar industry got the ear of Henry F. Grady during Mr. Grady's visit here, because he is representing the federal treasury as well as RFC and was not here in his capacity as president of the American Presidents Lines (shipping: the oldtime Dollar interests). The basic factor in Philippine defense, for example, is the loyalty of the Philippine people. Sugar can have a lot to do with that, concerning as it does the living of several million Filipinos besides the survival of a large conversion industry, the centrifugal mills-the centrals. So there's more to the question of getting the quota tonnage to America than just its value. The question should Imports....... Exports...... Totals........ 1940 1st Half-year P143,337,398 157,601,529 P300,938,927 1941 1st Half-year P135,901,992 177,754,390 P313,656,382 The 1941 increase in the value of overseas trade during the first 6 months was P12,717,455 over the same period of 1940. Minerals account for it; as we said much earlier this year, besides being a farming country the Philippines are now a mining country. The value of minerals shipped in the first half of 1940 was P44,688,219; the value of minerals shipped during the first half of 1941 was P58,724,534; the increase by values was P14,036,315, or an uppage of 32%,. Such differences promise to widen during the second half of the year, notwithstanding cessation of sales of iron ores to Japan. General business too will of course improve during the second half of the year, so it is gratifying to find the government was ultra conservative in casting the budget. Perhaps it had in mind disasters that to this writing, September 3, have not actually appeared. 10 The American Chamber of Commerce J(niLral September, 19 i

MORE ABOUT MACARTHUR Last month we promised our readers (at least for sake of the record) a little more comprehensive review of Lieutenant General Douglas MacArthur's life and military career than space permitted last month, because the appointment of General MacArthur to his present rank and the command of U. S. Army forces in the Far East came too near our dead line then. He is a general who has had long as well as extensive Philippine service and experience. Roosevelt showed an appreciation of his Philippine experience when, the commonwealth being created in 1935, he appointed him the head of the U. S. Military Commission to Manila to bring into existence, for the Commonwealth, the Philippine Army. The National Defense Act, from which the Philippine Army springs was the first act passed by the commonwealth legislature and a bit of General MacArthur's work. After that, on practically nothing a year-for what after all is an annual army appropriation of P16,000,000 to P20,000,000?-the business of founding cadres and training conscripts was pursued with the result that to help with their own defense the Philippines now have a potential army of some 125,000 men among their own young citizens that will be mustered under General MacArthur into U. S. service for the emergency. Both the common sense and economy of this are too obvious to require comment. It indeed suggests a thought-out plan older than the commonwealth itself and dating into the time, a period of 5 years 1930-1935, when General MacArthur was Chief of Staff at Washington, 3 years under Hoover and 2 years under Roosevelt. Before his West Point days, when he was graduated with honors at the head of his class, Douglas MacArthur in his nonage was in the Philippines with his father, Arthur MacArthur, the last of the military governors. After West Point he returned here a lieutenant and campaigned in the south. Major generalship came in World War I, where, at the close, he was commanding the Rainbow Division. Line and special duty brought honors from many countries: war, though he hates it, is plainly the man's trade; his attitude toward it is that of the martial philosopher Clausewitz, war is a continuation of peace. He's been in enough of it, and wounded too, to need no Remarck to teach him its brutalities. Following World War I he came back to Manila and lived at his favorite headquarters, No. 1 calle Victoria, on the western wall of the city, commanding the Post of Manila. A few years later he was back again, department commander, residing at Military Plaza. When he came back as head of the U. S. Military Commission to the Philippines in 1935 he made the old Victoria place the Commission's headquarters, and when Roosevelt gave him his present appointment and rank, he stayed at the Victoria place and continued to live at the Manila Hotel-we understand at the personal request of President Quezon. Major General George Grunert, directly in charge of the Philippine department, U. S. A., occupies Military Plaza. It all works out handsomely, especially with the enthusiasm of the Philippine Army, slated to eventually be the largest contingent in the command. I The Grady Visit The visit here of Henry F. Grady representing federal credit offices has been most acceptable to Philippine industry concerned with Philippine products necessary for modern war. Tangible faith was observed the very morning the newspapers published his initial press statement, in an upward swing of the stock exchange market. It had been enough for Mr. Grady to say he was interested in chromite and manganese. Then the tensity of the western Pacific situation seemed to ease somewhat, and wide interest in good gold shares reappeared. Mr. Grady managed his conferences well, one industry at a time, and probably reached bedrock as to facts. He will be back through Manila after visits in the Dutch East Indies, Singapore and Malaya having to do with rub Henry F. Grady ber, tin, tungsten, quinine, perhaps even spices and silver. We like it that he's a former state-department man, and now heads up American President Lines: his recommendations as Roosevelt's own emissary should have telling weight. A Refreshing & Healthful FRUIT DRINK LIBBY'S Orange Juice AMONG OTHER Tomato Prune Grapefruit ARE Concord Gral 1 ape LIBBY JUICES Pineapple Peach Apricot -

Manila: Center Of Eastern Communications William J. Dunn, originator of radio news reporting for Columbia Broadcasting, after a score of broadcasts from Manila and study of the Far East, picks Manila for the coming news capital of the Far East, including international-advertising sponsored programs. We run the following interview with William J. Dunn of the Columbia Broadcasting System (affiliated here with KZRM) because Mr. Dunn as a pioneer in radio reporting did not come into the business just yesterday, and because when he sees a new part of the world to him, it's still, even in the East, just a new part of the world: he has seen other parts, -studied, and reported them. Of course he graduated into broadcasting from newspaper work. His reporting career began in 1923, just after Harding's death under dramatic circumstances at San Francisco. (If only they had been doing radio news then!). A South Bend, Indiana youth, he worked on a South Bend newspaper until 1926, when he went to the United Press Associations Staff at Indianapolis, and in a few months, after transfer to Detroit, switched over to the Detroit News. Then he doubled back to the UP for a few weeks on what he calls a national air tour, winding up at UP's New York office until they promoted him to Washington to cover the House of Representatives. By this time it was 1930. If prosperity was around any corner at all, it was none in Washington; it might possibly be some Michigan Avenue intersection in Chicago, so Dunn, now seasoned to everything including the Mayflower and the New Willard, went to Chicago and did some work with the Associated Press and some with International News Service until a billet in advertising and publicity offered, and he took it. Aviation was in its teens, and wanted publicity to win it long pants and an acquaintanceship in the ward. Dunn berthed himself with American Airlines publicity in 1932 and stayed with them until 1938, ending as their publicity director. He was now ripe for his love, and she appeared, radio news. He joined CBS in 1938, was made their first news editor, and helped organize their news department -the largest, he says, in the radio field. Told off for the Far East watch, he first landed in Manila January 30, by clipper, having left New York January 14. He spent February in Manila, then nosed on through Dutch East Indies, Malaya, Straits Settlements, and Indochina, doubling back here in April only to hasten away again in quest of news in China and Japan. July found him back in Manila, and now, ladies and gentlemen, we turn you over to our guest speaker, our sapient and genial guest, William J. "Bill" Dunn of CBS. Take it, Bill. "Manila enjoys an enviable geographical location in the Far East-a location which, combined with the Far East's most complete and modern communications facilities, should advance the Philippines capital to the position of news headquarters for the entire Orient. "This position, in the past, has fallen to the lot of Shanghai, that was, and still is, the eastern headquarters for such worldwide news gathering and dissemination organizations as the United Press Associations, the Associated Press, Reuters, New York Times, New York Herald Tribune and Chicago Daily News foreign services. There is considerable doubt right now as to how long Shanghai can maintain this position. Already steamship communications with the rest of the world have been reduced to the barest minimum. Cable and PLOMB HAND FORGED Automobile & Aviation Tools FIT for the work they are built for, and GUARANTEED to do it PLOMB TOOL COMPANY Los Angeles, Cal. Represented exclusively by E. VIEGELMANN 460 Dasmarifias-Manila, P. I..,.~~~~~~ 12 The Amerioan Chamber of Commerce Journal September, 1941 (

radio facilities are limited and, in many cases, subject to Japanese censorship..'Here in Manila we have the distinct advantage of clipper service to the United States, as well as to Singapore and Hongkong. Part time plane service is available to the Netherlands Indies, and steamship service, while admittedly limited under the critical conditions existing in the Far East, is more complete than that to North China, and promises to remain in operation long after the North China services are suspended, should the Far Easterr situation make this necessary. "No other city in the Far East can boast the completeness of radio, cable and telephone service that makes Manila outstanding. Telephone service outside Shanghai is nonexistent, except to Japan under the most rigid censorship. There are still a few uncensored radio services from Shanghai but these can be wiped out in an instant if Japan ever decides to take over the International Settlement in the Whangpoo metropolis. "The Manila correspondent has almost unlimited facilities for moving his news to almost any part of the world not yet under German domination. He can file his hottest news by radio or cable, or he can telephone it direct to his office in the United States. "His mailers can move by clipper or by boat and, if he happens to be a radio correspondent, he will find in Manila transPacific broadcast facilities second to none in the world. Only Tokyo and Batavia in the Far East, and Sydney in the South Pacific, can boast comparable facilities. "In between eighteen and twenty broadcasts I have made from Manila in my three visits here during the past six months, not one has failed to get through and only two were of poor broadcast quality due to atmospheric conditions. "Already one of the world's largest press associations is seriously considering transferring its Far Eastern headquarters from Shanghai to Manila, and it is highly probable that the others will follow soon, from necessity if not from choice. Once they make the shift, it's doubtful that they'll ever return to Shanghai because there really is no logical reason for their location there, and there will probably be less once the Far Eastern situation is settled and the Orient begins to function on the entirely new basis which is almost certain to follow allied success in the World War. "Manila, too, can easily become the broadcasting capital for the Far East, once the war is ended and the world settles back to a semblance of normal commercial activity. Manila, thanks to its geographical location, can broadcast direct to nearly every radio receiver from Japan, on the north, to Australia on the south, as well as great areas of China. "Here, in normal times, is a ready made market that can be of inestimable value to the radio advertiser with an international product to sell. A great portion of this market can be reached by long-wave transmission (not nearly as much, of course, as by short-wave) and the history of commercial radio 'broadcasting has proved that long-wave programs are more widely accepted than the short-wave. "At the conclusion of the present warand it will have to end some day-the international radio advertiser will welcome facilities which will enable him to reach such a potential market as the entire Far East through a single outlet. Manila alone is so situated as to provide that single outlet. If the Commonwealth and the Americans whose futures are premanently linked with the Philippine Islands, have the vision, the foresight, and the ability to act swiftly at the conclusion of world host.lities, the past commercial history of these Islands will pale in the light of their unlimited future possibilites." THE AMERICAN CHAMBER OF COMMERCE JOURNAL Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. Su &rption P4 * imr Foreigs P __ - - --- - -- I WE CONVERT CARS INTO "SUPER-SILENT SPECIALS" I Hongkong & Shanghai Banking Corporation Authorized Capital...... H.K.$50,000,000 Issued and Fully Paid... H.K.$20,000,000 Reserve Funds:Sterling................. ~ 6,500,000 HIongkong Currency Reserve $10,000,00 Reserve Liability of Proprietors................ H.K.$20,000,000 Board of Directors and Head Office in Hongkong Sir Vandeleur M. Grayburn, Chief Manager. London Office-9 Gracechurch Street E. C. 3 Manila Branch-Established 1873-Agency in Iloilo Agents at Cebu:-Messrs. Ker & Co. The Bank negotiates and receives for collection bills of exchange; issues drafts and telegraphic transfers on its branches and correspondents in the Far East, the British Empire, the United States and South America, and transacts banking business of every description. Current accounts are opened in Philippine Pesos. Fixed Deposits are received in Philippine, British, or U. S. Currency, on terms which will be quoted on application. C. FARNWORTH, Manager i Besides doing an errorproof Shellubrication job, we give your lights, cooling system, spark plugs, fan belt, tires and many other points a careful checking-over. Honest, we don't overlook a thing! The result? Your car will sound- act- and literally be a "SUPERSILENT SPECIAL." We're here to do a lot of other things for our neigh. bors, too. Try us and see. 'Ei SHLLUBRICATION SERVICE STATIONS Taft & Herran.............Tel. 5-76-22 Luneta......................Tel. 2-11-81 Ayala Bridge................Tel. 2-10-25 Calle Morayta..............Tel. 2-40-89 Also in Baguio THE ASIATIC PETROLEUM CO. (P. I.) LTD. P. 0. Box 441 Tel. 2-2541 MANILA I I The American Chamber of Commerce Journal September, 1941 13

F. I~lllllll~, BRONZE BUSHINGS THESE PHOTOGRAPHS SHOW YOU HOW MUCH TIME AND MONEY YOU SAVE BY BUYING KINGWELL MACHINED BAR STOCK. f rVI Jf Iho6 BRONZE BAR STOCK * COMPLETELY MACIIINED-BOTH O.D. and I.D. * O.D. CONCENTRIC WITH BORES * THE FAMOUS S.A.E. #660 BAR BRONZE (83% copper, 7% tin, 7% lead, 3%c zinc.) 25% SAVING IN WEIGHT! NO COSTLY MACHINING! NO UNDERSURFACE DEFECTS! The photographs at the left illustrate graphically how much material must be taken off of rough bar stock during machining. By buying C"THOR" machined and finished MACHINED AND FINISHED BARS I -1.1 BEFORE MACHINING bronze bar stock you save 25% in W _ purchased weight, and costly machining time and expense. "THOR" bars are completely machined, both O.D. and I.D. and on ends, and are turned on centers, assuring you that outside diameters will be concentric with the bores. "THOR" bars are unconditionally guaranteed. You need never fear sand inclusions. under-surface casting defects or other flaws when you buy "THOR" machined bronze bars. Every bar is perfect! WE SAVE YOU THIS MUCH MATERIAL AND MACHINING TIME! "THOR" bronze bars are poured from ingot metal and held to a guaranteed analysis of 83 % copper, 7 % tin, 7% lead and 3% zinc, (S.A.E. 660). From our 84 years of experience we have found that this formula is unequalled for performance, and nmost fully meets coefficient of friction, pounding, and wear resistance factors. 46 Sizes Carried in Stock, Solid and Bored, Completely Machined - 13" Lengths. The Edward J. Nell Company No. 1 T. Pinpin, Manila, Philippines 14 The American Chamber of Commerce Journal September, 19Dt

The Acoje Mining Company The Acoje Mining Company now ranks as the premier producer of high grade metallurgical chromite ore in the Philippine Islands, and holds an enviable position industrially in supplying this essential strategic mineral for the defense needs of the United States. The increase in its production of chromite and in the value of the chromite shipped since the outbreak of the war in 1939 is strikingly shown in the accompanying graph. From a comparatively obscure producer in 1938 the output has expanded to 76,784 tons in 1940, and it is anticipated, will amount to over 170,000 tons for 1941. Similarly, the value of the shipments has risen from less than half a million pesos annually in 1937 to an anticipated value of over P3,000,000 for 1941. Acoje is fortunate in possessing chromite ore that is of metallurgical grade, averaging over 50 per cent chromic oxide. For such ore there is an insistent demand from the United States which possesses virtually no reserves of chromite within its own boundaries. Under normal conditions the consumption in America is about 550,000 tons annually. Defense needs have spiralled this demand upward. It is estimated that about 1 ton of chromite is required for every 100 tons of steel production. With steel mills in America working at a war-time rate, it is easy to see why Acoje has expanded its payroll to over 3,000 men; why 150 huge ore trucks move endlessly down the 37 kilometers of mountain road from mine to ocean pier; why hundreds of men toil un TONS CHROMITE ORE SHIPPED AND VALUE OF SHIPMENTS 1937 1941 ACOJE MINING CONPANY P4,000,00 - ____ ____ 3.00,0000 I P3I,000,000 Estmated 2,000,000 200,000 - le000, ~150,000 //70 P1.070.000 1.UUU,3000 I- / I —, - -,1000, 4 0554,000 Val O 1602,000 447, - - 0,000 Ch,1 1 1.t 520 227 1937 1938 1939 1940 1941 been located on the few claims that have been adequately prospected. Not all of these are being mined today for the company has found it possible to supply its contract requirements by mining relatively few of them. Ore is supplied from three sources at Acoje; by regulation underground mining from lens 2 and lens 16; by surface or open cut mining from about a dozen other lenses, and from sluicing operations on the chromite sands near the surface. This latter work is seasonal and can only be done during the period of heavy rains which furnish an adequate water supply for the sluiceboxes. While the rainy season lasts, work goes on unceasingly as chromite concentrates can be produced with a minimum of capital and labor expense. Sluicing operations are a picturesque sight at Acoje. Crude as the methods appear to be, they are surprisingly efficient and the chromite obtained is of excellent grade and finds a ready market from the chemical trade where it is required for such purposes as dyeing and tanning leather, for bleaching oil, and for paint pigments. Hundreds of men shovel the loose decomposed talus that results from decay of the chromite rock into long sluice boxes through which a stream of water runs. Other men work as puddlers, turning over the material until the soil and impurities are washed away, leaving the heavy chromite sands at the bottom of the sluice box. These sluice concentrates are remarkably uniform in grade and assay over 50 ceasingly on the road, repairing, rebuilding, moving sudden treacherous slides, to let the ore go to the sea and be hurried across to the mills of Pittsburgh and Cleveland and Gary. Acoje Mining Company controls 53 claims in the Zambales mountains about 2,000 feet above sea level. A large amount of development work has been done and many chromite lenses have been discovered but there doubtless remain many others to be found. These are often accidentally discovered by the road construction gangs in the course of their work. At the present time upwards of 23 separate chromite lenses have Concentrating chromite sands by sluicing. Highgrade concentrates are obtained by this simple means. The American Chamber of Commerce Journal S'ptctmber, 1941 15

Surface mining yields large amounts of chromite ore. per cent chromite. It is ultimately planned to treat this surface ore at a central washing plant with a capacity of 600 tons a day. Many of the lenses furnish high grade chromite ore which can be mined by ordinary open cut methods and in some instances the ore is rich enough to be loaded direct in the trucks without sorting. Mining is simple and often pick and shovel work suffices. Where the rock is harder, hand or power drilling is employed. Lenses vary in width and length and while the chromite may be pockety in character, the lenses are recurrent and persistent along a general north-south strike direction. At one place on the property the chromite bearing area has been developed for more than one kilometer in length. Perhaps the richest chromite deposit that is being worked on the surface is lens 15, where the ore occurs in layers that can be taken out with pick and shovel and loaded immediately for shipping without any beneficiation. On some occasions a 4-1/2 ton truck has been filled to capacity in 10 minutes. Large tonnages of medium grade ore have been indicated that will provide adequate mill feed for a 1000-ton concentrating mill that is now under construction. While surface mining operations have up to this time provided the major part of the ore for shipment, it is probable that in the future more and. more dependence must be placed upon ore obtained from underground work. As the area of the open cuts becomes enlarged, it will become increasingly difficult to handle overburden and to mine safely as the open cuts are driven further into the slope of the hill. This is recognized by the management and plans are al ready made for increasing the scale of underground work. Trained miners have been brought in from Baguio and Paracale for this purpose and experienced foremen are laying out the work. Judging from the excellent results obtained from underground development on lenses 2 and 16, where in the case of the former, the chromite ore has been shown to persist from the surface to the 420 level, there is good reason for optimism regarding ore reserves. The 1000-ton concentrating mill now under construction will handle the lower grade ore, below 48 per cent chromite, that must be beneficiated before shipment. The metallurgical tests on the ore have been made by two well known American engineering concerns and the ore dressing problem is believed to be relatively simple in character, offering no difficulty. For some years the Acoje company has had a small 25-ton pilot mill in operation that has been entirely successful in concentrating precisely the same kind of ore as will serve for mill feed in the 1000-ton mill, hence there is little reason to feel that any unforeseen metallurgical troubles will be encountered in the larger plant. In brief, the flow sheet for the new mill will consist in crushing and grinding the ore in rod mills, and after classification of the fine ground product, recovery of the chromite concentrates on concentrating tables and hydroseparators. In short, all that is planned is a simple gravity concentration taking advantage of the fact that the greater specific gravity of the chromite will make separation from the silica sands corn. paratively easy. The essential difference between the Acoje type of chromite ore and some other chrom. ite producers is that the chromite grains in Acoje are essentially high grade and impurities are mechanically mixed with the ore and can therefore be removed. In other types of ore the impurities are chemically combined with the chromite by replacement, hence mechanical beneficiation is unable to improve the grade, which in most cases remains little better after treatment than it was in the original crude ore. Construction of a 1000-ton mill under the disturbed economic conditions of today is no easy undertaking. The difficulty of obtaining prompt delivery of machinery and equipment needs no emphasis. However, much equipment has already been secured and is on the ground, or has already been shipped from the United States. It is believed that the new mill may be in operation by the first of the year. In the meantime the company in addition to maintaining shipments of ore to the pier to fill its contracts with ore buyers in the United States, is accumulating a large stockpile of lower grade ore which will be available for mill feed when the concentrator is ready. Transportation of its ore is by no means a negligible problem at Acoje. The topography of the country is rugged and no little engineering skill is needed to lay out the roads on suitable grades for the ore trucks. The main road to the mine from the provincial highway is 27 kilometers in length, and at its highest point Mining chromite from one of the numerous lenses on the property. 16 The American Chamber of Comnmerce Journal September, 1941 (

reaches an elevation of 2,300 feet. F[? There is an additional 10 kilometers from the turn-off at Lucapon to the loading pier at Baluarte near Santa Cruz. A good portion of the mine road has been widened to accommo View of the Acoje campsite. date two-way traffic, and eventually it is planned to complete the job. Bridges are being replaced by concrete culverts wherever possible. Movement of the oretrucks along the mine road is controlled by gates and telephones, and traffic move s smoothly. Visiting cars must have special permits before being allowed to go over the company's road. All of the trucking is under contract, though the Acoje company owns a considerable fleet of trucks of its own at the mine. This is only part of the transportation problem. There is a net work of other roads around the property, winding up the mountain sides, crossing bridges, and crawling up the valleys, that must reach the various lenses on the property which are so scattered as to cover several square miles. It requires a good half day of travel in an automobile merely to inspect the various chromite lenses from which ore is being mined and to spend a short time at each one. With the completion of the new mill, the problem of safe, fast transportation from the working places to the mill will become more vital than ever. At the Acoje pier there are six storage bins which have a capacity of some 10,000 metric tons of ore. The ore is taken from these bins in mine cars, much the same as drawing ore from chutes in a mine stope. The cars are run over the pier to shipside for loading. The pier has berthing facilities to accommodate ships of almost any draft, with depth of water at low tide exceeding 32 feet. At the present time, with mine production of 15,000-19,000 tons per month, the pier is seldom unoccupied by a freighter loading ore for the United States. Construction work at Acoje goes on continuously. The steady influx of new laborers requires adequate F-,- -.........A"..v........ '1LLL ' a 1e$ >*~ '1,L.LL -- i;' '" Loading chromite ore for the United States at the Acoje pier. housing facilities, and this in turn means maintenance of a water supply, sewerage disposal, hospitalization, a central store where food sup[Continued on page 23] ENGINEERING EQUIIPMENT AND SUPPLY CO. (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal Office Tel. 2-41-41 LIST OF AGENCIES AND CORRESPONDENTS Acm'e Tank Manufacturing Co. Akron Brass Manufacturing Co. Aldrich Pump Company Alloys Company, The Aluminium Union, Ltd. Ameresco, Inc. Anchor Packing Company Atlantic Metal Hose Co. Auto Engine Works Baker Oil Tools, Inc. Bay City Boats, Inc. Bendix Aviation Corp'n Bonded Scale Company Buffalo Forge Company Card Iron Works, C. S. Central Automatic Sprinkler Co. Chicago Pneumatic Tool Co. Cincinnati Lathe & Tool Co. Columbian Bronze Corporation Continental Machine Specialties Dayton-Dowd Company Deister Machine Company Denver Equipment Co. Dietzen Company, Eugene Electric Steel Foundry Co. Eureka Metal Products Farquhar Company, A. B. Filtration Engineers, Inc. Fred R. Belt Company Gar Wood Industries, Inc. Gates Rubber Company General Electric Co. Graton & Knight Mfg. Co. Harasta, Robert W. Henry Hughes & Sons, Ltd. Hercules Powder Company Hult Bruks Aktiebolag James Manufacturing Co., D. 0. Johnston Pump Co. Melchoir, Armstrong, Dessau Co. Mckiernan-Terry Corp-'n Monarch Engineering & Mfg. Co. Mundet & Company, Ltd. National Meter Company National Steam Pump Company National Supply Co. Novo Engine Company Oregon Brass Works Owens Bucket Co., The Peerless Machine Company Peck, Stow & Wilcox Co. Perkins Marine Hardware Portable Lamp & Equipt. Co. Portable Light Co., Inc. Powell Company, Wm. Pratt & Whitney Co. Ramsey Machinery Co. Ransome Concrete Machinery Co. Refinite Corporation Rex Metal Works Ridge Tool Co. Robins Myers Co. Safety Belt Lacer Co. Sandviken's Jernverks Aktiebolag Seagrave Corporation, The Shanklin Manufacturing Co. Smith Engineering Works Spear & Jackson, Ltd. Star Drilling Machine Co. Stearns-Magnetic Mfg. Co. Stearns-Roger Mfg. Co. Stockham Pipe & Fittings Co. Superior Engine Co. Tagliabu'e Mfg. Co., C. J. Toledo Pipe Threading Mach. Co. Uddeholms Aktiebolag Universal Motor Co. Viber Company, The Wallace & Tierman Co. Welter Kidde & Co. Western Machine Tool Co. Yates-American Machine Co. York Oil Burner Co. The American Chamber of Commerce Journal Fcptember, 1941 17

The Stock Markets By Ovejero & Hall MANILA-August 14th The resignation of the Konoye Cabinet reported on July 17th was temporarily overshadowed by the rescinding of "Pegged Prices" by the S.E.C. effective on the opening of trading two days later. This was construed bullishly and resulted in net price gains for the week ended July 24th accompanied by the greatest activity in eighteen months. The Indo China situation influenced nervous but unimportant selling during the last days of the past month, but losses were easily recovered. Latterly, press dispatches from abroad have stressed the very serious attitude adopted by the U. S. and Britain towards the Far East situation, while reports from the Eastern Front indicate continued Russian retreat in the face of the latest German offensive. WE ARE PLEASED TO ANNOUNCE THAT WE HAVE BEEN APPOINTED SOLE AGENTS FOR HALE FIRE PUMP CO. BUILDERS OF HIGH PRESSURE, TRAILER MOUNTED FIRE PUMP UNITS 0 TWO 500 GPM X 120 LBS. PRESSURE UNITS ARRIVING FOR OUR STOCK 0 WRITE US FOR PARTICULARS KOPPEL (PHILIPPINES) INCORPORATED =I These factors have combined to produce an atmosphere of uncertainty and nervousness in the market, and during the past week prices have slipped off easily. Activity has dried up as buyers for the most part have retired to the sidelines. Selling pressure has been absent and market quotations have been made by scattered liquidation on the part of small holders. While it is not our intention to prophesy what the future may hold, we are inclined to observe that the outlook, as judged by the price movement, is satisfactory. Following a rise in values to the accompaniment of a sharp increase in the volume of trading, prices have declined on a small turnover. This has all the earmarks of a correction in a bull market and indicates a resumption of the main advance on any improvement in the tenor of the news. It is quite possible, of course, that the latter may be delayed, and a period of consolidation around present levels may be witnessed. As in recent months, Mindanao Mother Lode continues the most active individual issue. Actually the best performer over the past month was Acoje which moved against the trend on its excellent earnings outlook. This high grade chrome producer is working at virtual capacity. During July two outstanding gold productions were reported. Mindanao Mother Lode improved on its June record with P765,964 from 7,547 tons, while Big Wedge produced P350,935 from 9,729 tons. Total number of shares traded from July 16 to August 14 inclusive amounted to 65,262,867 shares valued at P3,256,181.- compared with 115,619,095 shares valued at P3,278,675.- for the previous month. The following are today's closing quotations as compared with a month ago in the more active issues together with highs and lows registered during the period. Acoje..... Atok...... Benguet Conso.... Itogon..... I. X. L..... Lepanto... Masbate.. Mindanao Mo. Lode. San Mauricio..... Surigao Con...... Suyoc..... United Paracale.. July 15 19~ 35 High Low August 14 230 19~ 230 40 35 35 3.20 3.95 18-1/2 20 22 22 18-1/2 19-1/2 9-14 9-1/ 37-12 39 3.25 17 18 17-1/2 8-1/2 3.60 17 18 18 8-%4 32 32- 1 20 24-1/2 14 15 18-1/2 20 18 10-1/2 12-1/2 10 18 10 ILOILO MANILA CEBU 17 18 16 16 18 The American Chamber of Commerce Jcarnal September, 1941 (

NEW YORK-August 14th \Vith the failure of such conventional leaders as U. S. Steel and General Motors to display greater strength and activity, it became increasingly evident that the forward movement in prices which had its inception at the beginning of May appeared to have lost its vitality around the end of July. During these three months, the Dow Jones Industrial Average had gained approximately $15, while the Rail Average succeeded in establishing new highs since the 1940 lows were made. Market fluctuations as registered by the Dow Jones daily closing Industrial and Rail Averages have been as follows: July 15 High Low Aug. 14 Change Industrials 128.19 130.06 125.63 125.96 -2.23 Rails 29.64 30.88 39.40 30.09 +.45 Since July 28th prices have been in a slow featureless downdrift which, up to the present, exemplifies the old axiom that a market which cannot advance can usually decline. It is not possible to attribute the market's recent reactionary tendencies to any single factor. Certainly the focussing of attention on inflationary factors during the past month or two aided the rise. Latterly, however, the strong application of business controls and the ever closer approach to a total war economy have caused this factor to remove itself to the background, for the present at least. The situation is complex, and, as far as the market is concerned, meantime resolves itself into questioning the traditional inflation protection afforded by common stocks. On the one hand, it is undisputed that the general price level will rise further than it has up to the present unless it is more rigorously controlled. On the other side of the picture, increasing taxation and wages can force deflation in corporate earnings and dividends and, consequently, upon the market value of equities. Probably the answer to this question lies somewhere between the two extremes, as capacity operations will permit the absorption of increased costs in most cases without causing too heavy inroads on the profit factor. When and if this becomes more apparent at some future date, the inflationary angle, for the present in eclipse, will again assume importance. Reviewing the market action over the past month from the technical viewpoint, it is to be observed that while the establishment of new highs for the Rail average carries considerable bullish significance, it does not represent a Bull market signal. As intermediate movements generally last from three weeks to three months, and the rise which commenced in May reached full ihtermediate proportions a correction involving one-third to two-thirds of the rise would be a natural occurrence. In closing, it is of interest to note that the London market averages have, in the writer's opinion, clearly established a Bull market signal according to Dow Theory. That they have been able to do this in the atmosphere of a full wartime economy reflects British investors' belief in the continued efficacy of the common stock as a protective medium. The United States Bureau of Mines reports a record-breaking consumption of copper during 1940. The output of refined copper from foreign sources was the largest ever known; refinery production of new copper reached almost 1-9/10 billion pounds valued at $205,500,000. In addition, 236,338,000 pounds of secondary copper were produced. I '1I IL ~I Z W THE MOST COMPLETE LINE OF PUMPING EQUIPMENT, SINGLE STAGE, AVAILABLE FROM OUR MANILA STOCK, FOR VERTICAL, SINKING AND HORIZONTAL SERVICE CAPACITIES Size Type Speed CAPACITIES GPM Head GPM Head 4 x 3 SHH 3500 550 180 300 250 4 x 3 SK 1750 700 150 400 175 4 x 21/2 SKH 3500 600 275 250 425 3 x 21/2 SK 1750 325 130 150 145 2 x 2 GS 1750 160 108 100 120 11/2 x 11/2 SSUHH 3500 120 40 50 110 11/2 x 11/2 SSJL 1750 120 35 65 60 21/2 x 2 SSL 1750 200 90 100 110 4 x 3 SSN 1750 450 90 150 110 5 x 4 SSN 1750 950 85 500 120 6 x 5 S'SUE 1750 1800 100 300 180 INCLUDING TOTALLY ENCLOSED FAN COOLED, MOISTURE PROOF ELECTRIC MOTORS MANILA STOCK THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu M --- M The Amriean Chamber of Cemmere Journal September, 1941 19

Hazards Of Philippine... Continued from page 9 being piled behind lagging or used as back fill, it soon starts fining from heat generated by oxidation of the pyrite, and within a short time a serious fire ensues. This is called spontaneous combustion, as the fire starts from no artificial stimulus. If rooms and entries are opened too wide without adequate support for the heavy roof, it frequently happens that the increased pressure on the dirt streak will cause heat sufficient to ignite the coal. Sub-bituminous or lignitic coals are more subject to fires by spontaneous combustion than are bituminous coals. The lower the grade of the coal, the more subject the mine is to firing. Constant patrolling, strict supervision, plenty of water and good ventilation-all these precautions are necessary to keep fires at a minimum. To put out a mine fire, fight it directly with water if possible. Water failing, seal it off with airtight seals of clay, when the oxygen will gradually be expended and the fire will die. Bad ground conditions are not so widely feared as mine explosions and mine fires, though they are equally as dangerous and costly in lives and capital. Bad ground exacts a higher loss of life among American miners in the bituminous coal regions than explosions do. Glaring headlines bla HERE IS NEWS: - ON THE NEW McDONALD SHAFT AT UNITED PARACALE MINING CO. A RECORD OF SINKING 188 FT. IN THIRTY WORKING DAYS WAS ACCOMPLISHED [:j zon the story of an explosion that has taken the lives of 100 men or more, but of miners killed or maimed by falls of rocks -here, there; yesterday, today-the sto. ries are brief or not published at all. Vie. tims of bad ground, the men go 1 at a time, or no more than 2 to 3 at a time; but during a year, the number so killed is amazingly high among coal miners honme. side, far exceeding the number killed by mine explosions. Danger from bad ground is ever present in the whole mining industry. It requires and is being given, more and more attention and strict supervision. Generally speaking, accidents due to bad ground are caused by carelessness; want of attention and watchfulness, ignorance, and, as in many regrettable cases, by the fatalism latent in the outburst, "O hell! I can get the hole drilled before that comes down!" Or this, "It does sound drummy, all right, but it won't come down!" Or yet this cocksureness, "I've worked years underground and you try to tell me where to put a stull!" Sometimes the ground has not been properly timbered. Sometimes it is heavier than has been estimated, or the men have taken in timbers that were not standard, and used them because they were lighter and easier to carry and put in place. However, safety records from many mines in various mining regions and countries show that accidents due to bad ground can be, and are being, reduced to the minimum by correct instruction, constant supervision, proper roof control, and systematic and adequate timbering. Further study of roof action, roof formations, mining methods, and better timbering offers hope of further reductions of fatalities and lost time from such accidents in the future. Mine gases are the hazard most difficult to get the general run of miners to know, fear, and respect. Most coal miners homeside have this knowledge, fear, and respect. Mention it to the metal miner and the chances are he will scoff at the idea -one reason why hard-rock miners dislike coal mining and rarely make good coal miners. I've seen the Filipino miner, though, go blindly and fearlessly, through ignorance, and driven by innate curiosity, into old workings that have been shut down for months and even years. Fortunately, most of these miners have an acute sense of smnell that frequently warns them of impending danger, and they get out before disaster overtakes them. Coal miners have vernacular names for various gases they encounter in their calling: fire damp, black damp, stink damp, white damp, and after damp. Fire damp is a mixture of air and methane gas, CH4, a highly inflammable and explosive gas given off by coal and adhering strata. Methane has no distinguishing odor, but small admixtures of other gases of the same family, always found with it, impart an identifying odor to it. It is not poisonous, and being lighter than WE ARE PROUD TO ANNOUNCE THAT THE DRILLS USED ON THIS JOB WERE SULLIVAN PRODUCT THE L-57 THE LATEST AS ILLUSTRATED DESCRIPTIVE CATALOGUES ON REQUEST EXCLUSIVE REPRESENTATIVES MANILA MACHINERY & SUPPLY CO., INC. 675 DASMARIIRAS MANILA TEL. 2-24-58 TEL. 2250 BAGUIO 20 The American Chamber of Commerce Joprnal September, 1941

air rises to the higher places in mines; it will build up in such places, and dead ends, or in poorly ventilated mines, displacing the air and entailing oxygen deficiency. Thus it causes discomfort, and decreased Working efficiency; and it proves fatal, causing asphyxiation, when it drives the oxygen below 10% to 127%. Methane is readily detected by the flame safety lamp. When a testing flame about 1/4 inch high is used, methane gives it a blue cap and the depth of this cap determines the percentage of methane up to 5%, or the lowest point in its range of explosibility, which is 5%/c to 15%. There are also mechanical devices for detecting methane. Black damp is carbon dioxide, CO0. Often given off by the coal, more frequently it is generated by rotting timbers or other decaying materials, the breathing of the miners and the oxidation of the coal. It is not inflammable, explosive, or poisonous. Heavier than air, it is always found in low places. Small percentages cause an increased rate of breathing with perhaps some ill effect on the lungs. When bodies of this gas build up they cause oxygen deficiency, explained above. The flame safety lamp detects it, not by a distinguishing blue cap, but by the flame's going out when the oxygen content falls to 18%. Stink damp is hydrogen sulphide gas, H2S. It is generated by action of aciduous water on sulphur or any of the compounds, such as pyrite common in the coal mines of Cebu. Very poisonous, it is deadly in exposures of 20 minutes in percentages below even 0.1%. It is heavier than air, hence always found in low places or in old abandoned or worked-out sections of mines. It is frequently found in hard-rock mines, generated as already described, or given off from the tapping of underground streams, or, depending on the ground structure, from fissures in the rock. It has of course a very distinctive odor, that of rotten eggs, in very small percentages; higher percentages paralyze the olfactory nerves, so the nose alone cannot be relied on to detect it. A detector has been perfected recently by which its presence in mines can be determined quickly and accurately, according to the skill and experience of the operator. White damp is carbon monoxide gas, CO, formed by incomplete combustion of carbonaceous materials, therefore it is formed in coal mines after explosions and during fires, and in lesser quantities in dynamite smoke. It is explosive and poisonous and will prove fatal on exposures of 30 to 60 minutes in air contaminated with as little as 0.2% of it. Escape from it depending much on effort made and the physical condition of the person it attacks. It is an accumulative gas; that is, it builds up in the body from constant inhalation of it in small quantities, and when the point of 70% to 80% saturation of the blood is reached, death comes. There is a mechanical detector to determine its presence in mine air. Other methods are also used. Animals, guinea pigs, white mice, and Japanese waltzing mice have been experimented with and found very unsatisfactory as indicators of the presence of this gas. Canary birds are more satisfactory and are used extensively, though they too cannot be altogether relied on. Affected by carbon monoxide, the bird falls from its perch. This was carefully explained to a Filipino youth in the fighting of mine fire. He did not grasp the idea in its entirety, and emerged from the mine a few minutes later, with his bird, and said, "Sir, this canary bird is no good. It is dead." What he expected the bird to do was more than he could explain. But he did expect something else of it than flopping over dead. Gas accumulated in mines after explosions is called after damp. It is really an agglomeration of air, carbon monoxide, carbon dioxide, methane, hydrogen, sulphur dioxide, sdnd possibly hydrogen sulphide and the oxides of nitrogen gases. Nitrogen is an inert gas supporting neither life nor combustion. It has no effect on life M- - III aHE picture on the left shows a Size 25 SUMPUMP pumping out a working place. On such jobs as these, and for many other smaller pumping jobs in and around a mine, this unit has no equal. Operated by compressed air, it is a light-weight, strongly built unit which can be easily carried to all parts of the mine by one man. It is more than just a handy pump. It requires no more air than a '1Jackhamer." It can handle 200 g. p. m. against a 25-foot head. It is designed to be completely submerged. It is easily and inexpensively madntained. Size 25T Tandem Sumpump Two Sumpumps can be furnished coupled together as shown to act as a two-stage pump for higher heads than the standard pump will handle. This twostage pump known as the 25T Tandem Sumpump is good for heads up to 200 feet with 100 Ibs. air pressure and is very useful for dewatering shafts, etc. It will pay you to know more about this remarkable pump. Call or write to our nearest branch office and ask for a demonstration. LARGE CAPACITY 200 gpm. at 25 foot head LIGHT WEIGHT Easily carried by one man LOW AIR CONSUMPTION Requires no more air than one "Jackhamer" INEXPENSIVE Low first and low maintenance cost SELF-PRIMING Pump submerged in sump E*1=1 M a a a a~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The American Chamber of Commerce Journal rfeptember, 1941 21

except as it replaces oxygen and causes oxygen deficiency. Small quantities of hydrogen form after mine explosions, and larger quantities during mine fires, especially if the fire is fought with water, heat breaking down the water to form hydrogen and oxygen, and this hydrogen is very explosive over a wide range. Sulphur dioxide forms from the burning of coal, and some coal is always burned during explosions. It is not combustible nor explosive, but is extremely poisonous in small quantities. Oxides of nitrogen gases form by the burning of high explosives, something that frequently accompanies explosions. In relatively small quantities, these gases are very poisonous. Poor ventilation, though mentioned last, is one of the largest contributors to the hazards of Philippine coal-mining. The purpose of mine ventilation is to provide sufficient air for every employee underground and to dilute, to render harmless, and to carry off all dangerous and noxious gases. Good ventilation is that which is planned and systematic, by which a current of air is maintained through every entry and working face, and returned to the outside by airways. This may be effected by natural ventilation which, at its best, is not very satisfactory. Ventilation is best effected by a fan, or fans, mechanically driven. With little or no ventilation the mines are hot and this, combined with the high humidity prevailing in the Islands, has a bad effect on the men underground. It causes excessive perspiration, unduly weakening miners by driving salt from their bodies. Reduced to this condition, miners are not fully alert and are unable to do the normal tasks set for them, and their chances of injuring themselves are increased. Poor ventilation increases the presence of methane and other debilitating gases in the mines, which also has a bad effect on the miners during their shifts; as the gases are not diluted, made harmless, or driven away. This too increases the liability of accidents happening, since it decreases the miners' working efficiency. The greater danger is that bodies of methane are allowed to accumulate, with the possible chance of ignition and a mine explosion. Above all is the hazard in the ill ventilated mine to the Filipino miner. He knows how to pick coal and he does an excellent job of it. He has learned it from years of practice in mining outcrop coals, as is still commonly done. But he has no knowledge of gases in mines, of dangers from explosions, mine fires, or coal dust, nor methods of ground control, mining methods, and mine ventilation. These he will learn, must indeed learn with the passing p I Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL - - - - P2,000,000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. 0. Box 3369, Manila, Philippines Transporting coal from coal mine to main road by cargadores. rI KEEP YOUR NEW CAR NEW Be Oil Wise.... Use PENNZOIL! You can have a motor that runs like new for thousands of extra miles. The secret is in using an oil that won't break down under heat and pressure-an oil that won't gum up valves and piston rings. That oil is Pennzoil! Use Pennzoil from the very first oil change, and your car will' give you better performance-longer mileage and lower costs. Distributed by MARSMAN TRADING CORPORATION Port Area, Manila Telephone [phone] The American Chamnber of Commerce Journal September, 1941

of time and the ever growing demand for more production that will revolutionize the Philippine coal industry, causing it to pass from control by the small paquiao (sharepay) producer to the larger commercially operated mine. But doing this he will have to pay the price, high in life and misery. Other mining fields have done so, and have done it by paying the price, and the Philippines are not different from them in this respect. For the Philippines even in their limited experience have not been immune from disasters caused by the typical hazards of coal mining this paper mentions. One of the first was a fire in the Dofia Margarita at Uling, Naga, Cebu, about 1860 -1870. Recent development work broke through some of the Dofia Margarita's old workings. Part of one of her tunnels in rock was opened and made use of. Doing this work, another entry was noticed, going to the right. Three big boulders were found at the entrance to this tunnel. There are many legends extant about Dofia Margarita, one that she buried a fortune in the mine-a fortune in silver doubloons. Seeing the boulders, the miners grew quite excited over their discovery, thinking surely that beyond lay the hidden treasure. In no time at all they had opened up 10 feet of the old entry before they were stopped. Closed examination discovered a complete seal of board walls 2 feet apart with clay between the boards; then round sticks, about 3 feet long, laid longitudinally in the tunnel, and packed with clay, and then another clay wall, then 2 to 3 feet of sand. There was more, but as the work was stopped, it was never learned what else it was. It was a perfect fire-stopping, or seal, but the thought of a fire was never entertained. Later it turned out that Doia Margarita had a fire in her mine, and her hiding place for buried treasure was in reality a fire seal. This was learned when a raise entry was driven into the area back of the stopping, and old charred timbers, charcoal, ashes, and burnt rock were found. Superstitions of the place speak of spirits that were in the Dona Margarita, ca'ling them the Flaming Spirits and the Walking Fire; and old Naga folk tell of friends and kin who were burned and killed by by these mysterious spirits. They wanted all knowledge of gases, and so in their credulity transmuted methane into fiery ghosts. The terms Walking Fire and Flaming Spirit are completely descriptive. Old miners have seen the blue flame of ignited gas travel up and down a drift until the gas burned out, walking fire, and have also seen the sharp, quick, il'uminating flame of a small gas explosion, a flaming spirit. There are no recorded data of the number of victims of Dona Margarita's fire. The late Major R. R. Landon, mining in the sanle locality 20 years ago, experienced similar difficulties. Even during the present war period, fires have visited some of our coal mines. The industry must have trained coal men, not only in the operating branch but in combating the hazards here reviewed with strict adherence to the safety rules. The Acoje Mining... Continued from page 17 Imports of chromite ores into the United States increased 107%c in 1940 from the 1939 total. The 1940 imports averaged 46 %A chromic oxide. The highest grade was from New Caledonia, 53 %O chromic oxide, and the lowest from Cuba, 33 o%. plies may be purchased. Machine shops are needed for the mill and mine, additional power must be installed, bodegas must be erected and maintained. The mine stopes require timber and the company must operate its own saw mill. There is little time for rest at Acoje today. The chromite must go to America. I,i TIDE WATER ASSOCIATED OIL COMPANY Refiners and Marketers of Flying ~A~ Gasoline Tydol and Veedol Motor Oils Mabuhay Kerosene Avon Diesel Fuel Oil -il LL PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SURETY COMPANY OF IHE PHILIPPINE ISLANDS executes and covers BONDS Court, Customs, Firearm, etc. Plaza Goiti and Escolta INSURANCE Fire, Life, Marine, etc. P. 0. Box 150 Tel. 2-12-55 -- -- The Anlerican Chamber of Commerce Journal SQltm,,her, 19b1 23

The Mining Industry-Tabulated Statistics Courtesy-Chamber of Mines of the Philippines JUNE 1941 JULY 1941 TOTAL PRODUCTION CAPITAL DI)VIDEND Tonnage Value Average Tonnage Value Average To Date 7 months 1940 Authorized Paid Up 1941 1940 Antamok 19,287 P 250,553.29 P12.99 17,697 r 280,832.87 P15.87 P 531,553.16 P 250,233.89 P 3,000,000 P 2,750,000 - - Antipolo 706 30,395.59 43.05 692 34,052.53 49,21 64,448.12 1,000,000 417,192 - Baguio Gold 12,200 197,254.70 16.17 13,566 203,597.20 15.01 400,851.90 184,912.50 2,000,000 1,299,950.02 Balatoo 65,510 1,195,169.40 18.22 68,170 1,147,683.68 16.84 2,342,853.08 1,118,915.26 6,000,000 6,000,600.40.Batong Buhay 4,319 146,295.63 33.87 4,441 137,004.56 30.85 283,300.19 2,000,000 1,661,703 - - Benguet Cons. 39,868 923,705.62 23.17 42,035 925,538.92 22.02 1,849,244.54 921,494.56 12,000,000 12,000,000.30 Benguet Gold 1,585 23,649.00 14.92 1,044 14,841.00 13.87 38,590.00 73,515.11 200,000 200,000 -.005 Big Wedge 4,530 192,275.52 42.44 9,729 350,935.16 36.07 543,210.68 170,040.38 2,000,000 777,692.02 Cal Horr 6,290 98,247.84 15.62 6,475 116,691.52 18.02 214,939.36 126,402.22 Owned by Benguet Cons. - Capsay @ 5,312 72,807.88 13.71 5,900 64.184.44 10.88 136,992.32 93,146.08 300,000 175,000 - Crown Mines 840 10,147.00 12.08 802 8,940.00 11.15 19,087.00 1,072.46 1,000,000 636,000 - Davao Gold 2,922 75,030.58 25.68 5,029 132,543.78 26.38 207,574,36 80,000 80,000 - Demonstration 4,705 71,826.00 15.27 5,704 84,852.00 14.88 156,678.00 33,914.43 1,000,000 1,000,000 - East Mindanao 5,740 93,142.93 16.23 - — 93,142.93 34,000.00 1,000,000 1,000,000 - Gold Creek 1,365 33,633.91 24.64 1,057 23,193.77 21.94 56,827.68 15,685.56 1,000,000 700,000 - Ipo Gold 4,900 58,767.57 11.99 780 22,789.40 29.22 81,556.97 54,164.34 1,000,000 819,794 - Itogon 27,232 494,824.10 18.17 28,204 478,597.92 17.00 974,422.02 442,781.54 2,500,000 2,500,000.02 IXL 13,214 223,813.18 16.94 12,802 242,406.80 18.94 466,219.98 239,968.20 1,500,000 1,500,000.02 Layog 1,313 10,982.76 8.36 - --- 10,982.76 - Macawiwili - - 32,718.28 -32,718.28 51,472.16 - Aldecoa (Mapaso) - - 213 2,420.42 11.36 - Masbate Cons. 98,983 521,547.96 5.22 125,335 532,234.24 4.25 1,053,782.20 492,970.04 5,000,000 5000,000.01 - Masbate Gold 195 2,725.64 13.98 - -- - 500,000 164,080 - Mayon Mining 1,501 29,796.70 19.85 - 29,796.70 100,000 100,000 - - Mind. Mother Lede 6,956 703,842.00 101.18 7,547 765.b64.10 101.49 1,469,806.10 173,256.14 2,000,000 2,000,000.01 - Mineral Resources 3,469 33,208.65 9.57 3,345 33,556.26 10*03 66,764.91 31,598.60 2,000,000 1,351,920 - - North Camarines 3,137 70,455.19 22.46 2,618 52,811.26 20.17 123,266.45 147,017.66 1,000,000 995,802 - - Northern Mining (Tuba) 2,281 54,434.04 23.86 2,494 59,654.05 23.92 114,088.09 56,150.00 1000,000 840,041 -- Paracale (Sta. Barbara Gala) - 19,280.44 - 1,150 34,804.17 30.26 54,084.61 _ Paracale Gumaus 6,243 145,621.56 23.33 6,123 164,798.72 26.91 310,420.28 146,928.14 500,000 500,000.04 Paracale National 1,219 25,818.44 21.18 1,101 33,374.65 30.31 59,188.09 22,684.52 1,000,000 959,165 -- San Mauricio 16,004 407,200.53 25.44 15,665 401,134.47 25.61 808,335.00 500,030.34 2,000,000 2,000,000.015 Santa Rosa 5,907 128,744.20 21.80 5,817 132,298.21 22.74 261,042.41 58,416.99 1,500,000 1,500,000 - Surigao Cons. 11,237 234,400.00 20.86 11,713 241,500.00 20.62 475,900.00 153,246.00 1,200,000 1023,400.02 Suyoc Cons. 7,252 189,489.46 26.13 7,505 185,561.13 24.73 375,050.59 167,151.22 1,250,000 1,250,000.01 Treasure Island 7,272 199,611.88 27.45 8,090 209,183.28 25.86 408,795.16 90,377.60 2,500 shares 66,940 United Paracale 11,133 294,353.34 26.44 11,217 290,768.18 25.92 585,121.52 272,927.03 1,300,000 1,300,000.02 PLACER Coco Grove 333,470 116,624.10 0.35 278,415 115,020.70 0.41 231,644.80 122,449.54 1,600,000 1,500,000.01 Mindanao Mining 82,490 24,885.52 0.30 - -- 24,885.52 North Mindanao 10,000 13,460.68 1.35 20,618 13,588.18 0.66 27,048.86 56,150.00 Tambis 32,676 18,335.00 0.41 33.792 14,708.00 0.44 28,043.00 400,000 390,643 - BASE METAL Lepanto 12,843 285,297.04 22.21 12,530 286.522.80 22.87 571,819.84 170,615.64 1,750,000 1,050,000.01 Hixbar 2,428 106,734.10 331.73 1,489 60,006.31 40.29 166,740.41 52,838.24 600,000 274,360.03 Cons. Mines 9,600 115,200.00 12.00 11,043 132,476.00 11.99 247,676.00 5,000000 4,121,246 - Creosote Is An (Antidote for Ants White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY 24 The American Chamber of Commerce Journal September, 194 r

I 71!ll r Iil.iVE MENTSSw —m i D NN MEN - i spent several weeks in Manila recently on company business. * * * Ben Meek, a geologist at the Bureau of Mines for the past several years, has resigned his position to join the operating staff of Lepanto Consolidated at Mankayan. * * * W. F. Boericke and N. N. Lim were engaged in valuation work in Marinduque during August, as well as examining other properties on the island. * * * Ralph Marsden is back in Manila after making a geological reconnaissance of Palawan. F. H. Kihlstedt, chief geologist for Philippine Iron Mines, has been in Manila conferring with company officials. $ $ clipper. I D. McKay, general superintendent of Mindanao Mother Lode mine in Surigao, Don Young, general superintendent of North Camiarines Mine, in Paracale, was a Manila visitor in August. * * * J. Calderon, superintendent of Hixbar mine on Rapu-Rapu, has been in Manila awaiting a new assignment from his company, since Hixbar has suspended operations due to export restrictions. * * * C. A. Mitke has made a visit to the Acoje, a chromite mine in Zambales. * * * J. E. Fife, who has been engaged in exploration work in Mindanao, is now in the government service at Cavite on construction work. L. Cushing, who is developing a small but successful gold mine in the Abra district, spent a few days of August in Manila on business. * * * Robert Carleton, with the Tubon Mining Company in Baguio, has been ill in Notre Dame hospital there, but is now rapidly recuperating. Bob recently contributed a valuable paper to the Journal. * * * John O'Day, on the operating staff of Acoje Mining Company, spent a recent vacation in Manila. * * * Leslie Bruns, chief geologist for Itogon Mining Company, has completely recovered from a recent operation and returned to his position at Baguio. * * * L. W. Shaner, formerly mine superintendent at Antamok Goldfields, has resigned that position and is now on the staff of Acoje in Zambales. * * * R. Shade, made a professional trip to Zambales investigating chromite properties there. * * * D. Forrester, for the past year in charge of milling operations at Davao Gold Mines, has returned to the homeland by - THE INTERNATIONAL HARVESTER LINE - Motor-Power Units Corn Machines Motor Trucks Planters and Drills Farm Tractors Listers Industrial Tractors Cultivators Crawler Tractors Lister Cultivators Diesel Tractors Binders Orchard and Grove Ensilage Cutters Tractors Ensilage Harvesters Cane Tractors Ensilage Blowers Golf Course Tractors Pickers Power Units Huskers and Shredders Diesel Power Units Shellers Engines Cotton Machines Grain Harvesting Machines lters Binders Middle Busters Tractor Binders Middle Busters Rice Binders Push BindersDusters Harvester-Threshers Strippers Windrow Harvesters talk Cutters Pickup Attachments Choppers Headers Haying Machines Reapers Mowers Threshers Side Rakes and Tedders Rice Threshers Rakes Beet Tools Loaders Seeders (Beet and Bean) Sweep Rakes Cultivators Stackers Pullers Tedders Tillage Implements Baling Presses Tractor Plows Pickup Balers Riding Plows Alfalfa Threshers Walking Plows Clover Threshers Middlebreakers Bunchers Disk Harrows Eccentric Disk Harrows Other Farm and Tractor Harrows Industrial Orchard Harrows Equipment Harrow-Plows Cream Separators Spring-Tooth Harrows Milkers Peg-Tooth Harrows Milk Coolers Ridge Busters Air Cooling Units Field Cultivators Walk-In Coolers Rod Weeders Reach-In Coolers Rotary Hoes Industrial Coolers Cultivators Beverage Coolers Soil Pulverizers Feed Grinders Subsoilers Hammer Mills Land Packers Potato Planters Plow Packers Potato Diggers Basin Listers Manure Spreaders Listers Farm Wagons,& Trucks Cotton Choppers Lime Spreaders Bedders Lime Sowers Cane Plows and Fertilizer Distributors Cultivators Cane Mills Seeding Machines Knife Grinders Grain Drills Binder Twine Broadcast Seeders Tractor Trailers Endgate Seeders Crop Dusters Alfalfa and Grass Drills Stalk Cutters Write for Catalog on any of these machines in which you are interested. INTERNATIONAL HARVESTER Keeps them on the Job! Any fine mechanical product is finer still when it has dependable Service close at hand. That fact is a strong factor In the success of the International tractors and McCormick-Deering farm machinery. Behind every International stands a service policy of lasting value to every owner. Provincial branches are maintained, supplemented by dealers throughout the Philippines, all carrying stocks of International trucks, McCormick-Deering tractors and farm machinery as well as repair parts. An unrivaled network of Service is always and instantly available to users of International Harvester products. INTERNATIONAL HARVESTER CO. OF PHILIPPINES MANILA Cebu Baguio Bacolod Legaspi Davao W

President Gaches Speaks On Cooperation By invitation of President S. F. Gaches of the) American Chamber of Commerce, Manila Rotarians held their weekly luncheon at the Chamber of Commerce Thursday, August 14. Mr. Gaches delivered the after-luncheon address, on the subject of Philippine-American cooperation. President Hugo Miller of the Manila Rotary Club presided. Rotarians and their guests numbered 107 at the meeting, where a roastturkey menu did full credit to the Chamber's cuisine. President Gaches's address, run in the next day's newspapers in full, is repeated here. We are fast approaching what appears to be the parting of the ways. Since 1910 there has been free trade existing between the Philippines and the greatest consuming country in the world, the United States of America. This free trade has brought progress and prosperity to the Philippines for the obvious reasons that there has been a market for our prime products,-hemp, copra, tobacco, sugar, lumber, and such small articles of industrial manufacture as adventurous capital has produced. In 1946 this great market will be closed to the Philippines, and the relationship between the United States and th-e Republic of the Philippines will be the same as that of the "most favored nation" unless some new form of government is, devised by the thinking statesmen of both countries or from this world chaos some new form of world administration and world relationship may be evolved. The parting will be with regret on the part of many Filipinos and Americans. This regret will not only be personal but The following letter from Attorney Jose G. Flores is typical of many President Gaches received both from Filipinos and Americans congratulating him on his Rotary Club address: "I have read with interest in the Manila Daily Bulletin of last Friday the speech you delivered before the Rotary Club on August 14. You made a clear and interesting portrayal of the beginning and development of American-Filipino cooperation in the Philippines. Personally, I believe that such a cooperation has no parallel in history. "The importance you gave to the American school teacher in connection with the development of the Philippines is a true and just appraisal of the work of those pioneers who taught us the fundamental principles of liberty and democracy. Your advice that 'the Filipinos must participate in business as the small retailer, the wholesaler and the manufacturer' reveals a deep interest in the economic welfare of the Filipino people. Allow me therefore, to congratulate you for the frank and honest expression of your views on Philippine-American relations and to acknowledge with gratitude, as a Filipino citizen, your unselfish interest in,he economic situation of our country." rSa. Gac Samuel F. Gaches the name "Manila rope" with the City of Manila and through that with the Philippine Islands. The Spanish-American War, a war for freedom, brought the Philippine Islands very vividly to the American people in the American homes because on May 1, 1898 cables were received from Admiral Dewey that he had defeated the Spanish fleet in Manila bay. The news of this naval victory, together with the call for volunteers, caused the examination of geographies in the schools and homes of the United States to determine "where was Manila" and "where was Cuba." In the cause of freedom thousands of men were sent across the great Pacific and after the excitement and smoke of battle had disappeared, these same soldiers became teachers in schools and the principles of Amer[Continued on page 33] national. Prior to 1898 the Philippines were unknown to the American people except through the indirect association of Former Manila Americans at Their Annual Dinner, Los Angeles. Many of our readers will recognize more of these faces than we do ourselves. C. M. Cotterman, fourth from left, standing, gave the use of the picture. 26 The American Chamber of Commerce Jourval September, 1:?1

L and Sti P4.00 For Subsc $3.00 Currei Subsc 7.al / Single Copies: ocaited 35 centavos U ntes d reign / / / j WALTER ROBB ription: Editor and U. S. Manager ncy, per;ription September, 1941 Vol. XXI, No. 9 Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. Just Little Things We should have taken notice in this department last month of the first issue of the Journal of Philippine Statistics, the July number, a review to be published monthly by the Bureau of the Census and Statistics where Dr. Leon Ma. Gonzales is the acting director since the departure of Ray Hurley from Manila to resume duties at the census office at Washington. The new re'view is mimeographed, but stapled and bound in stout gray cover paper of a convenient size for filing. Supplemented by special studies undertaken at the bureau, it covers exports, imports, labor, population, birth, deaths, marriages, agriculture, banking, and finance, "in an effort to bring into intelligible and usable data the mass of statistical information secured from various primary sources." We find the review most helpful, and were glad to see that in July data up to the end of June were included. The demographic table by provinces pleases us particularly, because we wince every time we see it published that the population of the Philippines is 16 million. That omits about 1 million, a large percentage; the round figure for the Philippine population today is 17 million. As of June 30 it was 16,971,100 in exact figures. We compliment the census bureau for the excellence and timeliness of this review and the legibility of the data and tables. * * * Wanted: 100,000 bales of cotton, 500,000 bushels of wheat, 700,000 bushels of soy beans, and 500,000 bushels of corn, by the Ford Motor Company, Dearborn, for the making of 1 million Ford automobiles. The item conveying this information appeared in Manila newspapers of August 16, under a United Press Associations byline. The item said that Ford had just unveiled his first plastic automobile. "Mounted on a tubular welded steel frame, it has a superstructure composed (queer word that) entirely of plastic fiber which is considered superior to steel in all but tensile strength." Well, as automobiles are not ordinarily pulled apart, but are more often, in accidents, telescoped, let the tensile strength of Ford's new plastic of wheat, beans, corn, cotton and maybe such sturdy substances as air and water pass as unimportant. "Engineers said the plastic car was able to absorb a blow 10 times as great as steel" (could absorb, no doubt is meant). The plastic comes of 12 years of research by Robert Boyer, a Ford chemist. We have no doubt that it is all that is claimed for it, and that it represents a novel departure in car manufacturing. It saves steel, chrome, manganese, and one thing and another in the metal and alloys field. It probably conserves labor costs, and it offers a considerable new market for the farm products utilized. But what of its acoustics? If that is wrong, all is wrong. When you thump a door, or slam it soundly, what is the response? The public ear is attuned to the sound of tin in a car, thin alloy sheets. Unless Doc Boyer's plastic echoes that, we're pessimistic over its success. * * * When we dropped in at Henderson's, the Independent Shoe Shop, we found Henderson almost weeping. He was certainly in a cursing mood, only he is not that kind of an old soldier and reservist. The trouble was, Cohen, in San Francisco, can't get him any more Barbour's Irish Flax Sinew. He has a goodly stock of it, that Cohen shipped out ahead of U. S. priority demands, but when this is used up he will have to fall back on cotton cord, Barbour's Red Hand Cotton, for the duration. Before Hitler set the "world afire, he used to get the McCoy itself, that'is, the good flax sinew, a heavy shoemaker's thread, at $1 a pound roll; but he paid Cohen, $3 a roll for the latest shipment, and might today sell it at Hongkong for $5. He says that Barbour cures his flax fiber in water by a process that makes it waterproof. He uses it for heavy shoes and boots, especially for miners' shoes and boots, sewing the soles and the blucher seams of the uppers and so proofing them against water and mine slush. He doubts that the cotton will do the trick as well as linen does, and he hates having to skimp a job for any reason. But Washington is taking the linen-cord supply for aviation, it's cotton or nothing for shoemakers.. Ailerons on the wings of planes, and the elevators of the empannage, the flaps that make planes rise and descend, have, many of them, a coating of fine linen over their metal. However, that doesn't use up much Irish flax. The use that is taking the flax is in parachutes, Barbour's Irish Flax Sinew is used to sew the harness that buckles round a parachutist. That's where it's going, and by the ton. * * * About this time next year Time is going to write up the auto dealer who went fishing along early in July, this year, and getting back home in September, made lazy and elaborate preparations for moose in Canada, an excursion from which he hardly got back home for Christmas. From June 1941 on, the story will run, he just serviced his customers' cars. He had nothing on the floor for sale at all, but rumor was, and rumor was right, he had leased Old Johnson's warehouse and had it stacked to the top with cars not unpacked, and all paid for: either the bank was carrying him, or he had a kitty of his own. He was a good man, this dealer; he agreed with the local minister and Henry Wadsworth THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign P6 27 The American Chamber of Conmmercs Journca September, i941

Longfellow of Bowdoin and Harvard that life is real and earnest and not an empty dream; but he went farther in his own philosophy, revised for present times, and believed life to be also quite a gamble. He was no big shot; he had no delusions of grandure, and didn't get the notion that he made cars just because he sold them. The fellows that made cars would right away be making fewer cars, of different materials than the 41s in a lot of cases, and making more munitions, armaments and armament parts instead; and these he, a car dealer, would not be selling. So he figured it all from his angle, no sin, since it didn't interfere with preparedness, and when the 42s came along, he broke out his handsome 41s and cleaned up in a =j few weeks. We really think some wiseman is going to do this very thing. Ah, there's the word, thing, plural things. In face of inflation, turn to things; good things, naturally. What better things are lying round loose than the 1941 automobiles, whose like you won't see again till after World War II is history? Their metal and alloys, their finish, everything the best that applied science can give a public taking 5 million cars a year; and all bought in the raw far below 1942 prices, including labor. Running all this through our mind as a theory, we came on a friend who bought a good car early in World War I, used it several years, and toward the close of the war sold it for P200 more than its original cost; and he had no such bargain to start with as the 41s of today. The 42s made in America will be good, that goes without saying. They will also be up in price, and replete with substitute materials. (Time, July 14, page 60). If looking for things as a hedge against inflation, some dozens of 1941 cars are still at the dealers. * * * During the past year the Philippine National Bank has gone modern in a big way. It has remodeled its building and garnished it with native marble. It has removed its customers' department from fronting nowhere, but backing on Muelle del Banco Nacional, to frontage on the Escolta, where use of marble in the general lobby is elaborate indeed and imparts a sense of coolness even in April and May. It has installed the latest procurable type of vaults, such as are known on Wall Street, at a cost of at least P350,000. (It also turned a 2 million peso profit last year, when much of this extraordinary expense was being met). But we're not through. Topping all, Philippine National Bank has imported a brace of armored cars in which to haul its cash around as need requires under surveillance of uniformed armed guards, sport. ing rifles. Crated for shipment, these cars weighed 8,800 pounds each. The first to be set up has been in use about a month, say from the first of August. The bank uses the cars for customers' transfers as well as its own: Manila Railroad, Metropolitan Water, and other entities banking gobs of currency every day will, it is anticipated, use these cars instead of other transportation and open-policy insurance designed to cover possible losses from holdups or accidents. The bank says that no such loss has ever occurred, it is just anticipating the day one might occur. Heretofore, money transfers have been effected in Manila in automobiles, carromatas, or even carretelas, Manila's market carts; and 40 years ago, when it was all silver, it was carried in sacks by porters, like commodities. There is little formality in its transportation even yet, but now, with these armored cars, there will be. In 1923 a friend of this magazine's collected P40,000 in Sorsogon for the Pacific Commercial Company, a sum that was nearly all silver and had to be taken to Legaspi on a journey that because of a break of 7 kilometers in the highway would last into the night. A string of carriers was hired for the business, and over that 7-kilometer mudhole got badly strung out, all in the night. However, every peso turned up safe at Legaspi; each carrier got his half peso for his work. Philippine National says the fact that it is the clearing house for the banks of Manila was not a factor in its buying of the armored cars. It needs the car chiefly for exchanging currency with the treasury. It M. * A precision-built motion picture camera which combines the convenience of magazine loading and the instant readiness for every picture opportunity afforded by a turret head. Head mounts three lenses and their matching viewfinder objectives. Come in and see the latest product of the makers of Hollywood's professional equipment. Representatives for the Philippines Philippine American Drug Co. BOTICA BOIE On the Escolta since 1830 r,q - -- - -- ~ T-he. American Chamber of Commerce Journal September, 1941

often has large sums in bills of large denominations to be changed at the treasury into smaller ones; the cars will be used for these errands, also by the treasury when it sends remittances to the bank to cover its balances. As long as we were at the bank, we inquired about its character loans venture aimed at usurers in Manila's public markets. Ideas that this magazine had mulled over were put into effect last April, with excellent results. For their loans, stall owners make one visit to the bank. This is to impress them with the fact that they are dealing with a public bank and not an individual. After that, bank collectors go to them, not occasionally, but every day, just like the usurers do, collecting a bit of the principal and a bit of the interest. Loans run from P30 to P100 for 100 days, 1/100 part being payable, with interest, each day. The lowest interest the bank has been able to figure out is 1 centavo a day, so everyone, whatever the loan, pays that 1 centavo, at least, which compares with the usurers' 20 centavos. The market woman who borrows P30, pays back at the rate of 31 centavos a day; she who borrows P50 pays 51 centavos a day, and she who borrows P100 pays P1.02 a day. There are 350 such loans, and the bank makes below 12 % a year on them. No payment is delinquent. Every humble borrower is up to date with her payments. And now that they know where such loans are to be had, they are no longer timid; they are turning the usurers in, and have turned them in at 3 of the markets. There are about 5,000 of these market folk in Manila, the bank believes it will eventually have 3,000 of them for its customers. It is now studying the day loans, the loan of P5 of a morning, for which P6 is returned of an evening. It thinks it will be able to beat that racket, too. Its collectors don't work Sundays, the borrowers make it a habit to pay double on Saturdays, or in rarer instances, on Mondays. * * * Say that a heavy year's production in the Philippines of Manila hemp is 1,400,000 bales of 275 pounds each, 3 bales to the measurement ton in a ship, 8 bales to the long ton by weight. In peace this fiber sells widely throughout the world, heavily in England, America, and Japan. There is no satisfactory substitute for it in prime cordage; even where steel cable replaces a Manila rope, often its flexibility is due to a core of specially treated Manila hemp. But World War II has reduced the outlet for this hemp to America alone, with cordage factories there largely occupied with war orders. America buys for England, and also carries for her as far as the Atlantic seaboard, and Japan, until recently permitted to buy waste and lowgrades, is finally excluded from the market altogether under the operation of export-control orders. Nevertheless, there has been such competition for hemp and such duplication of effort to get it as to send prices up very materially, engendering in growers' minds memories of World War I and prices as high as P45 a picul (% bale) for grade F, a standard grade in the American cordage trade. There is buying in behalf of the navy. There is buying for the federal stock pile of crude materials, because, for one thing, the army's use of Manila hemp exceeds even that of the navy, and with new merchant ships off the ways every day, these too must be outfitted. There is buying for England, as already mentioned, under the lend-lease authority or some other arrangement, and finally the buying by the great cordage factories to fill the orders of both peace-time demands and those of war. So the market is more than good, though all, or practically all, limited to the United States. More than 3 million Filipinos are better off this year than last, on that account. Manila hemp is the third Philippine commodity on the preferential shipping list: chrome, manganese, hemp is the order in which these commodities run. A ship in which the Maritime Commission has an interest will be told off to load hemp homeward at $18 a ton, when sugar, which stows much closer, is waiting to be carried at $30 a ton. It's orders. Now as to production. If, as is true, 1,400,000 bales a year are a big Philippine yield of hemp, more than 50% of it is produced in Davao, where the prime producers are some 8,000 Japanese planters and farmers; some on their own farms and plantations, some on leased farms and small plantations, and some share-cropping for Filipinos and Americans. Davao's production this year from January to June inclusive was 400,000 bales, indicating a year of 800,000 bales that would excel the highest previous production by 50,000 bales; but production may taper off during this second half of the year; stripping, for one thing, may have been overdone during the first half. It may be estimated that Davao yields 55 %6X of the country's annual hemp crop. Actually however, of the grades wanted INSIDE ADVERTISING inE MERALCO STREET CARSAN DBUSES 4,500,000 PASSENGERS MONTHLY * COVERING THE AREA WITH THE HIGHEST PER CAPITA BUYING POWER IN THE PHILIPPINES: CITY OF MANILA, PASAY, SAN JUAN, PASIG. CALOOCAN AND MALABON: AT THE LOWEST RATE PER 1000 READERS OBTAINABLE THROUCH ANY ADVERTISINKG MEDIUM IN THE PHILIPPINES* i q MANILA ELECTRIC COMPANY 1-4 SAN MARCELINO TEiL *-19 t1 -I —~ — — ~ ---. --- The American Chamber of Commerce Journal September, 141i 29

and used in the United States, Davao produces 90% or more of the whole output, and of this it may be said that Japanese produce more than 50 %. There is no indication to date that the arrangement will be disturbed. (While there are far more than 8,000 Japanese in Davao, when we visited there 5 years ago we found only about half of the whole community domiciled in farming, others being in industry, business, and the crafts). About the first of August even the American market ceased activity, while everybody concerned went into a huddle at Washington about what to do. In the circumstances, America wishes to pay neither too much nor too little for Manila hemp; as things had been going, she would, she thought, soon be paying too much. The federal stock pile counts vitally in the problem, it seems, the trade being under some sort of obligation to assist in its liquidation when peace ensues, so the trade, quite naturally, doesn't want unit costs of hemp in the stock pile to be far out of line with what the normal hemp market may be when the fighting is over. Probably understandings will have been reached and a market will exist again before these comments reach the reader. What the understandings mnay be is anybody's guess. The reason America hauls hemp to the Atlantic seaboard for England is that America has more ships, including transports, touching here than England has, and from stocks accessible on the Atlantic seaboard England can more quickly supply her needs than she could by routing ships to Luzon. Some degree of practical cooperation has also been attained by the navy and the NAFCO, National Abaca (hemp) and Other Fibers Corporation. The corporation has managed to raise the quality of a good deal of Luzon and other hemp, so the navy has been able to buy it. Ordinarily, Luzon and the Bisayas strip the coarser grades in demand in England and on the continent; Luzon has not, as Davao did long ago, mechanized the stripping of hemp. It takes about 6 tons of Manila hemp to outfit the average merchant ship. For 6 hawsers 8 inches in circumsference and 125 fathoms in length, 4 tons, or near it650 kilograms to the hawser. For boatfalls, about 1 ton; and for general purpose cordage, cargo slings, flag lines and the like, 1 ton more. New shipping alone, in America alone, must be taking about 18,000 to 20,000 tons of Manila hemp a month, exclusive of naval requirements. The whole demand has been such this year that until the market stopped for readjustments there was probably not a day when less than 30,000 tons of hemp were afloat, enroute to the homeland; yet a seasoned Manila businessman, retired, and living at the time in Los Angeles, which may have had something to do with it, wrote in a book the bald assertion that the Philippines produced nothing that America required. On the contrary, the war turns up here 4 required products as this magazine remarked months ago: in agriculture, Manila hemp and Philippine coconut oil; in mining, metallurgical chromite and manganese. Repetition is for the sake of the record. * * * Reverend R. I. Stebbins and Mrs. Stebbins, and 7 children, 3 boys and 4 girls. From Massachusetts, their mission at Hue, Annam. Reverend P. K. Snead and Mrs. Snead, and 2 children, a boy and a girl. From New York, their mission at Dalat, the business of teaching the children of the missionary families at that invigorating mountain resort. Reverend R. P. McNaughton and Mrs. McNaughton, and 2 children, a boy and a girl. From St. Paul, their mission at Sontay, Tonkin. Reverend G. H. Smith and Mrs. Smith, and 3 children, boys. From Toronto, their mission at Banmethuot, far inland, high in the mountains and wild elephant country, among pagans resembling the pagans of Mountain Province here. Reverend and Mrs. H. S. Clingen, no children. From New York, their mission in Laos, at Vientiane, over against Thailand. Reverend A. L. Hammond and Mrs. Hammond, and 2 children, boys together with 3 children of missionary colleagues in Indochina going back to America with them. From New York, their mission at Phnom Penh, Cambodia. Miss M. Bethge, of Brooklyn, and Miss A. Heikkenen, of St. Paul, teachers from Dalat, and Miss Preston, a nurse. Miss Bethge is leaving the mission because of ill health. Mrs. Harry Taylor and Mrs. Harold Sechrist, for reasons of health going back to America, their husbands staying on at the missions. Such is the group of missionaries, Americans and Britishers, of the Christian and Missionary Alliance who came from Indochina to Manila a few weeks ago on the French ship Marechal Joffre and were, when this was written, August 23, living in Intramuros at the Oriente Hotel awaiting passage to California by some ship or ships of whose names and movements and dates of departure agents were saying nothing. They are not by any means all the Alliance missionaries in the Indochina field. They are not evacuees, much less refugees, and they resent its being said that they left Indochina because of pressure brought to bear on them by the French pro-Vichy authorities or something the Japanese are doing there. In ordinary circumstances they would have been among other passengers on a boat touching at Manila and going on to California via China and Japan; they would have lived aboardship and nothing would have been thought of it, no one would have paid the least attention to it. It was having to come ashore and wait for ships that made them newsworthy to Manila reporters, something not altogether to their liking. They are except Miss Bethge, Mrs. Taylor, and Mrs. Sechrist, going homeside on furlough. Their furloughs were due, or overdue, or nearly due. No American or British ships were conveying between Saigon and Manila, but French ships were still running, so, in a political situation constantly tightening up, all whose furloughs were due or nearly due decided to make a party of it and leave Indochina together, bringing with them such women and children of other missionary families of the Alliance who wished to come along, Some women preferred to remain behind with their husbands. Like other Americans and Britishers in Indochina (as well as here in the Philippines) they received consular advices about a year ago that it might be advisable for women and children to leave the country. It seems that British consuls A LHAMBRA CIGARS continue to be the recognized leaders of Philippine QUALITY cigars CORONAS DE LA ALHAMBRA I..a -~ ~ ~~~~~~~~~~~~~~~~ 30 The American Chamber of Commerce Journal September, 1941 (

renewed this suggestion recently, but American consuls did not. These missionaries say the French authorities in Indochina still exercise authority and are friendly toward the missions; they don't wish to leave the impression that this feeling is not reciprocated. Japanese troops are now, of course, everywhere in Indochina that is of strategic importance; naturally they are in Banmethuot, Sontay, Dalat, and so on, as well as Saigon, Tourane (where they have a new airfield) and the other well known cities. But these missionaries say they have been most correct in relations with the missions; they have defiled no churches, seized no property without due payment, or due rent for the period the property, such as a church or chapel, may have been occupied. We gather the opinion that the missionaries think this is partly their due, since they are strict evangelists and punctiliously aloof from political entanglements. The Christian and Missionary Alliance, founded some 75 years ago by Dr. Albert B. Simpson, is nonsectarian in character: its missionaries come into the organization from Baptists, Methodists, Presbyterians, indeed a number of the Protestant churches, and being amalgamated into the organization are all one in faith. They are fundamentalists, their missions are purely evangelical. French policy in Indochina permits no large scope to missions: they can have no schools for neophytes or hospitals there, these are responsibilities of the French government alone, and the missionaries say they are well discharged. News is another matter. The French have their peculiar view of that, too. Practically speaking, there is never news abroad about Indochina, in Indochina; neither now nor years ago when there was no Hitler, no Vichy, no De Gaulle, no Axis, no Japanese demarche. These missionaries, from stations thousands of miles apart, have had their news from Don Bell broadcasting here at Manila. Their French neighbors have had it from them. Our talks were with Reverend Hammond, at Phnom Penh for the past 20 years, and with Reverend Smith of the pagan mission. Both spoke in praise of the work of the French in Indochina, that is to say, the French government there, articulated with the people's own governments, and Reverend Hammond said he thinks the French the best colonizers in the world. (Reverend Smith, as a Britisher, may not go that far). But Indochina is huge, hardly touched throughout most of its area by population or development. Chinese do the business of the country as here, the indigenous peoples adhering to farming and their traditional peasant cultures; and the Annamese, of vast Annam, are at once somewhat progressive and the most eager for religious enlightenment because Christianity encountered their ancient religion in decay. The Japanese found the French driving a military road straight from Saigon to Hanoi (the capital, in the north), and have kept right on with it with the same objective in view, military advantage. This road crosses high ranges and is a most handsome highway, that opens tracts of elephant country (tiger and lion country too) to settlers that will swarm in there just like Ilokanos, Cebuanos, and Boholanos swarn into Mindanao over the new roads there. In allusion to big game, driving in from Banmethuot the Smiths counted tigers and lions gazing curiously at them by dozens; on the train, a large elephant herd lined up and stood at blinking attention as puny man sped by to his cities. The Smiths know the great guides, Nicolas at their station, and La Fage at Saigon; and this simian fancier Dr. Carpenter, Cornell anthropologist, recently one of the rime's feature subjects, studied apeland at Banmethuot also. Only old or crippled tigers and lions are dangerous to man. Reverend Smith likes hunting, otherwise the missionaries pay them no attention. Other missionaries are ready in America to go to Indochina, some to take the places temporarily of these who 'are off on furlough, but if they come now the men must come ~alone because visas for women and children are out pro, tempore. The ministries are carried on in the native vernaculars. Reverend Smith has mastered a number, the principal one Rhade, the speech of the folk of Banmethuot, but not of a number of the out-stations, where other local speech prevails and the missionary has to know it. Formerly also, in coming out to station FOR THE FIRST TIME IN G. E. HISTORYA LOW PRICE "TROPIC-PROOF" 5 TUBE, LONG & SHORTWAVE RADIO! P6500 CASH PRICE AT OUR MANILA STORE BIG SET FEATURES IN THIS 5 TUBE RADIO specifications for model X-105 5 Tubes; 2 Reception Bands (540-1780 Kc., 4.5-18.0 Me.); Specialized Tropic-Proof Construction; 5-in. Dynapower Speaker; Beam Power Output 4 watts; 8-in. 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the first time the missionaries all went to Paris to study French intensively a year at the Alliance Francaise, the ecole for foreigners studying French. With the war, this of course is out. Yet it is imperative that French be known, and well, and if the missions are recruited during the war some new arrangements for French studies will have to be effected. Reverend Hammond emphasized to us the fact that missions of his organization are faith missions. There is a reliance among the missionaries on God, and folk who love and fear Him, and acknowledge His son, to keep things going. Funds? He said no thought is given to them. There is a maximum allowance, but no minimum. Funds come on from head quarters at New York, and even during the prolonged depression they never failed of arrival. But now they have failed, though not at New York, and the missionaries assume it is the war again. Their allowances, so styled, are remitted from New York monthly, and so they receive them-through the convenience of the banks. But now for 2 months they have not received them, and they were trying when we saw them to ascertain where and what the delay was. It was possible that they were frozen at Hanoi or Saigon. There was just no word at all about them. One of our purposes in talking with these earnest folk was to learn something about There was a man in our. town, And h-e was wondrous wise, He swore (it was his policy) He would not advertise. But one day he did advertise And thereby hangs a tale, The "ad" was set in quite small type And headed "Sheriff's Sale". iron deposits in Indochina. Reverend Hammond, from Cambodia, flat along the Mekong, knew nothing of Indochina's minerology. Reverend Smith knew only general facts; though he is from the mountains all right, ethnology is his suit. He reckons Indochina immensely rich in all manner of minerals; he knows of large iron deposits that have been mined under the French in Tonkin, where there is also much coal, and he has heard of the Japanese going ahead with this, also with tungsten in the same region. We had heard that one reason Japan sends no more ships for Philippine iron is that she now gets it from Hainan, the massive island off Hainan strait that she took from China 21/2 years ago. Reverend Smith thought this might be true, Hainan being so mountainous and also little explored in its mountainous interior by the Chinese. The Chinese in Indochina everywhere are highly spoken of by the missionaries; they are ubiquitous there, as here, and no mission is so remote as to be removed from the services of some Chinese general store stocking staple groceries and household needs. Our own cursory impression of French Indochina, from a trainride from Saigon to Hanoi via Hue 21/2 years ago, just as Japan took over Hainan, was that it is roughly about 2 Philippines, with the advantage of being all in a single piece. This is not to belittle the Philippines, either; it is just an effort to comprehend what Indochina, where the French after all have done prodigies, yet comparatively so very little, really is. Before leaving the missionaries we learned that some are staying here, to go to Zamboanga. Miss Preston goes there, and Miss Heikkenen, and Reverend and Mrs. Snead, and Reverend and Mrs. Clingen. Savings deposits in United States banks reached $25,750,050,000 at the close of June, 1940, according to a report of the savings division of the American Bankers Association. This was an increase of $669,103,000 from June 30, 1939, and marked the seventh successive yearly gain. FILIPINOS A full-value and timely book of Philippine sketches and studies by the editor of this magazine. P5.00 postpaid Manila agentsPHILIPPINE EDUCATION CO., INC. Escolta 32 The American Chamber of Commerce Journal September. 1941 (

President Gaches Speaks... Continued from page 26 ican democracy became the theme of education. At no time in history has there ever been such wholehearted cooperation between the conqueror and the conquered as has existed in the Philippines since 1900. America had no thought of conquest; no intention of taking over and enforcing a government on an unwilling people. Throughout the history of the United States, her expansion had been with the consent of those occupying the annexed territories. In the case of the Philippines, President McKinley, after days of turmoil and thought, rose from prayers to state that we would remain in the Philippine Islands for the benefit of the Filipinos, to give them the freedom which we Americans enjoyed. From that moment cooperation between the Americans and the Filipinos became a growing thing until it has today resulted in the granting to the Philippines in 1946 of an independent government. This cooperation was brought about by two great factors: (1) The long studied desire of the Filipino leaders for a democracy patterned after that of the United States. (2) The intensive educational policy of the sovereign power in which the English language was taught and emphasized. In the first case, history points out that in 1896 a Constitution was written in Kawit for the formation of a Philippine Republic. The Constitution was patterned after the Constitution of the United States. Later a Republic was established in Malolos having a similar constitution, again patterned after the Constitution of the United States. Years before, the great filipino patriot Jose Rizal prophesied the coming of the great western republic to the Philippines and the establishment of a government in the Philippines of the people, for the people, and by the people. Rizal predicted United States would remain permanently in the Philippine but would leave when the work of establishing a government was finished. America therefore found herself inadvertently associated with a people whose ideas were fundamentally democratic and who were anxious and willing to learn and accept the complete theory of American government. The establishment of the schools, however, and the teaching of the English language as a national language intensified the desires of the Filipinos for self-government under a democracy. Unity of ideas and ideology are brought about only through understanding, confidence and faith. These three requisites become intensified when taught through a common lan guage. With the intensive instruction in the English language in all schools, millions of Filipinos began to read American magazines and books written in the American or English language. Through these books they became further acquainted with the ideals of American democracy. They recognized that there existed certain fundamentals in democracy without which it could not exist. These fundamentals were freedom of speech, freedom of the press, freedom of assembly, the right of the individual to his personal and real property, and the right of habeas corpus. The Filipinos having adopted these principles advanced rapidly. They cooperated with the American authorities. Autonomous government became a reality beginning with municipalities and working its way upward through provincial governments to insular government. This was not a hasty advancement. It was a steady movement forward where both Americans and Filipinos working for the same ideal cooperated. Roads, bridges, buildings, all material things advanced. A prosperous era has extended for forty years, one of the longest eras of uninterrupted prosperity in the modern world. Some day there may come a writer who will gather together the trials and tribulations of the American school teacher of 1900 in the Philippines and will write the "Saga of the American School Teacher" which will be real history of the Philippines since American occupation. To the American teacher belongs more honor than to the Army and Navy in the development of the Philippines. So much for the past. The future "Watchman tell us of the night, what the signs of promise are." The future looms uncertainly before us. Under the Tydings-McDuffie Act our roads separate on July 4, 1946. Under conditions existing when this Act was passed, we could forecast with considerable certainty the economic future of the Philippines when separated from the free market of the United States. The outlook was stormy in the extreme. The imposition of export taxes and the quota system became felt and efforts were made sometime ago to remedy this, but without success. All thinking men could see in the future a decline both in production and in standard of living as the people of the Philippines would be compelled to compete with the cheap cost of production of the same articles in neighboring countries. There would not be the open market for Philippine goods after 1946 as exist today. This situation has been aggravated by the World War. A shortage of ships to carry oil and sugar, added to restrictions under the TydingsMcDuffie Law, makes clear today what would be the result of a closed market in 1946. Coconuts continue growing without aid of man. Nature herself is the agriculturist. Man may refuse to harvest, but nuts continue to grow, free except for taxes. With sugar it is different. Man must plant and harvest. At this moment sugar planters are seriously considering the crop for 1942-1943 and what lands should be planted for they do not know -where they can sell the sugar. The Tydings-McDuffie restrictions are secondary to the problem of transportation. It is against human nature of work without pay or profit. The Philippines are early beginning to feel the effects of possible separation from American markets. Time will cure the shortage of transportation, but how and when may the markets be found. Efforts are now being made to liberalize the Tydings-McDuffie Act as far as quotas and export taxes are concerned. Undoubtedly this effort will be successful but it will not change the ultimate economic situation which will come upon us in 1946 unless some adjusment is made whereby I I GETZ BROS. & CO. 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the Philippines become a part of the American Commonwealth. How and if this can be done is a matter which we little men have practically nothing to say. Statements have been made that at the end of this war there will be such a demand for raw products of the Philippines that we need not fear so greatly the taking away of the American market. This to my mind is fallacious in the extreme. Such ideas fail to take into consideration that other countries have huge surpluses of sugar, copra, coconut oil, tobacco, and other products produced in the Philippines. There is no single one product, not even hemp, on which the Philippines have a monopoly. Every export product may be produced cheaper in other countries for marketing in the United States than it is produced in the Philippines and marketed without the tariff protection. The problem therefore remains as it was. There must be further and more intensive cooperation between Filipinos and Americans. This cooperation must express itself unselfishly. Statesmen must come forward with a well-thoughtout program for the benefit of the present sixteen million Filipinos and the future fifty million. This problem must not be solved for today only but for tomorrow so that the same smiling faces may be seen in the Philippines after 1946 as are seen today. The cooperation between Filipinos and Americans must be more intense than before and must be expressed in terms of faith in the future of the Philippines regardless of the form of government to be established. We need today the cooperation of Filipino capital with American capital. We need a monetary expression on the part of the Filipino capitalists of their faith in the future of the Philippines. Their sons must be educated in business. Business is a profession more exacting than that of any doc tor or engineer. The Filipinos must participate in business as the small retailer, the wholesaler and the manufacturer. To obtain this participation the young Filipino must study. He must learn that the businessman never sleeps. He must learn that the businessman must have patience, frugality, courtesy, financial acumen, and above all, a will and a courage which carries him over obstacles which result in a defeat of weak men. It is a great thing for Philippine capital to buy new hectares of land for abaca, copra, rice or tobacco. It is a wonderful thing to see Philippine capital erecting reinforced concrete buildings along the principal streets of cities. It is an expression of unquenched desire for better things to see magnificent homes built in the capital cities. These evidences of security of capital do not express progress. The real expression of progress is the daring adventurous spirit of the businessman, the distributor, without which there would be no great buildings, no great haciendas, no great factories, no civilization. Within the next five years the Filipinos must cooperate more than ever before, and at this time the cooperation must be between the wealthy Filipino investors, as well as between the workers, and the Americans who have faith in the future of the Philippines. If the retail business, which is the greatest problem of distribution, throughout the Philippines is to be placed in the hands of Filipinos, it must be done with thought and experience, otherwise there will be a tangled skein which cannot be unraveled without tremendous loss and inconvenience. The Filipino must be educated for business. He must ue taught the rudiments of business and then, backed up by his capitalistic friends who have faith in his judgment and in his experience, carry on distribution to a successful issue. In other words, the cooperation of the future must be a practical cooperation based on an understanding that the untrained man cannot be successful in business and that a college education in coinmerce is no better than a college education in medicine or engineering. The graduate in engineering is very glad to be a chain man on a surveying party. The college graduate in medicine is anxious to serve an interneship for years before he takes up the practice of medicine or surgery. Therefore the graduate in commerce should be anxious to obtain a small position in some commercial firm where he can learn the practical end of business and apply wherever possible some of the theories which he has learned in school. It is this cooperation that today is required. Fulfillment of this cooperation will give the Filipino more opportunity of success after 1946 than any other measure. This, however, cannot be accomplished without intensive education and experience and faith in the future of the country. The cooperation between Americans and Filipinos during the past forty years has been one of studying for maturity. The school days are now over. The Filipinos must now begin to face actual life as it will be for them in the future. They must serve their apprenticeship in the school of experience without the aid of government influence or governmental money. They must remain individuals and willingly and cheerfully encounter the hazards which individualism and democracy bring them. If they once fail, let them rise from their failure stronger in experience and in tenacity of purpose than before. They can learn from the experience of Americans in the Islands many things and in the learning avoid the road to failure and travel freely along the road to success. I I 1 11 INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents E. I. LSEIL INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 A Meca is rightfully included in any list of strategic war materials, on account of its use in the manufacture of heavy duty spark plugs for airplanes, for which there can be no substitution. Phlogite meca possesses many valuable properties, including a high degree of mechanical strength, toughness, and ability to withstand heat and thermal shock without deterioration or breakdown. The chief source of high grade meca is in Canada. According to statistics of the U. S. Bureau of Mines, more than 94,000 tons of salt are used annually in the United States for baking commercial bread, biscuits, and pretzels. The total does not include salt used in home baking. Salt mining as conducted by the International Salt Company is big business. This concern mines salt at a depth of 1,073 feet below the surface, by the usual underground methods, and the mine workings extend for many miles. Production is 3,000 tons of Salt a day. The United States added iodine to the export-control list April 15, 1941. Iodine is an essential in medicine and photography. The bulk of the world supply is a byproduct of the Chilean nitrate industry. 34 The American Chamber of Commerce Journal September, 1941 (

I Magazine Digest For July Parallels The Following Factors For And Influences Against Inflation: FACTORS POINTING TO INFLATION 1. Defense program started with national debt about $16 billion above the World War peak. 2. Expenditures for defense and leaselend program, already projected to a total of about $40 billion, seem destined for further expansion. 3. Action of pressure groups forcing extra-budgetary expenditures indicates sizeable deficit on "normal" accounts. 4. Administration policies foster large increases in labor costs; settlement of practically all labor disputes by granting wage advances encourages additional demands. 5. Price controls have been applied only to a limited number of industrial goods; farm products are advancing rapidly. 6. Probable 1941 tax program will have relatively little effect upon mass buyers of consumers' goods. 7. Legislation empowering the President to issue greenbacks and further devalue the dollar apparently will be extended. 8. Money supply, already at a high level when defense program started, is showing further large increases (demand deposits and money in circulation rose about 20 per cent. in last 12 months). 9. "Velocity," or turn-over of money, is accelerating. 10. Relatively small sales of U. S. Defense Bonds to individuals suggest further large scale bank credit inflation (large part of deficit will have to be financed through expansion of banks' holdings of U. S. Government bonds). 11. Prospective decline in manufacturers' production of non-defense lines will create competition to obtain available supplies of civilian goods. 12. Lack of any indication that the Federal Reserve Board's anti-inflation recommendations will be adopted. INFLUENCES AGAINST INFLATION 1. Orders establishing price ceilings usually cancel most or all of previous advances in free markets. 2. Administration is preparing for more comprehensive price controls. Hints that rents and even wage levels may be included suggest possibility of drastic and all-inclusive control system. 3. Declaration of war or a full national emergency status would facilitate the imposition of far-reaching control measures which would not be considered practicable or expedient under existing conditions. 4. Conservative elements in Congress, backed by the Price Administration Office, may succeed in checking the present trend toward higher non-defense expenditures. 5. Pressure to increase non-institutional sales of U. S. Government bonds will probably be applied. 6. Some form of compulsory savings may be adopted. 7. The incidence of new Federal taxes is uncertain, but the total burden is sure to be heavy. 8. Curtailed spending of middle income groups could offset a large part of increased demand from lower income brackets. 9. Exceptionally heavy purchases of consumers' goods (notably consumers' durable goods-automobiles, electrical appliances, etc.) have probably anticipated a significant part of the demand which would normally become effective over the next year or two. 10. Although gold imports have tapered off, existing monetary gold stocks afford ample coverage and reserve against circulation and bank deposits. 11. The great productive capacity of American industry. 12. The availability of new monetary, credit and other controls based upon the experience of the last war. due chiefly to difficulties in obtaining materials, but in part to concentration on defense contracts. Priorities are spreading at an accelerating rate. The number of items on which preference ratings are issued is now well over 300; and the smaller list upon which 'the Government has taken over full or partial allocation of the available supplies is increasing. These are significant of tightening situations which require the industries, particularly those using metals, to make troublesome adjustments. Import controls are adding their difficulties. In certain necessary materials where no present shortage exists the Government is taking precautions to protect future requirements. It has ordered all users of rubber to restrict their operations and has constituted itself the sole buyer and importer of rubber, for the purpose of controlling supplies. All supplies of zinc have been made subject to government allocation, and copper producers will hereafter be required to furnish part of their output to the priorities division of the O.P.M. for distribution to defense uses. The steel trade reviews say that 65 to 70 per cent of all steel orders now carry preference ratings. This is duplicating the experience of the last war. The supplies of commodities available are vastly greater than twentyfive years ago, but requirements also are greater. This country will experience fewer shortages of non-defense goods, and come closer to having both guns and butter, than any other. It still has reserves of labor available, which can be drawn into the industries as rapidly as skill and training can be imparted. Plainly, however, there are other bottlenecks than labor. At present the chief bottleneck is in the critical materials and machines. There is no assurance that others may not appear, perhaps in transportation, fuel, or power. It should not be inferred that the appearance of production difficulties has resulted in any curtailment of aggregate production, for on the contrary industrial operations are still expanding. Even manufacturing companies which are meeting difficulties in filling non-defense orders are busy with defense contracts and instances of actual curtailment or layoffs of labor have been few. Awards of defense contracts continue to run into hundreds of millions monthly-the total for May was $879 millions-and of the new defense plants started during the past year far more are still under construction than are in production. This portends further expansion as time goes on. Meanwhile, the Federal Reserve index of industrial production has soared to record figures, 149 in May (1935-39=100), compared with 140 in January, and 115 in May a year ago before the defense effort was started. June and July figures are expected to be still higher. Supplementary National City Bank View (From their monthly review) In many quarters attempts are being made to reappraise the position of this country. It is plain, however, that our fundamental policy of arming ourselves and giving aid to Britain will in no way be altered. The influence of the defense program is dominating business increasingly as time goes on. For a year the country has been expanding its armament production, and making preparations for further major increases, without requiring any considerable diversion from non-defense output; but the developments of recent months have made it plain that this condition cannot continue indefinitely, and that the coming increases in armament will be more and more at the expense of normal industrial operations. Shortages of materials are beginning to tell, as stocks on hand run down and substitutions become more difficult to make. A survey among manufacturing companies made by the National Industrial Conference Board shows that more than one-fourth of those covered are now reducing output of non-defense items, while nearly 80 per cent expect such curtailment within a few weeks or months, The American Chamber of Commerce Journal September, 1941 35

Sugar Market Report (July 16th to August 15th, 1941) By Warner, Barnes & Co., Ltd. Developments in the sugar market during this period have been of a very far reaching nature and the future is far from clear at the time of writing. On July 19th, the U.S. sugar import quota was increased by 502,002 tons and again on July 31st by 379,213 tons; these two increases brought the amended total quota up to 8,006,836 tons, which is estimated to be about a million tons over one year's normal consumption. However, these increases are in part offset by the probability of offshore areas (particularly the Philippines) being unable to ship their full quotas to the United States, and another important factor in this regard is the heavy stocks of so-called "invisibles" which all dealers are carrying in these days of uncertainty. These quota increases did not have the result of preventing a further rise in prices, to avoid which was reportedly the Administration's intention in making the increases. At the close of our last report, business was reported being done at 3.55~, but by the end of July, refiners had paid 3.65~ and prices rose further, with sellers holding off throughout, to 3.80~ by August 11th. __ _ __ _______ Wales... C tzects... Co lectiots... The Market Guide for the Philippine Islands sales, credit, and collection work. will aid you in all 1941 Edition Fully lists 1,510 active business firms in all parts of the Philippines, giving complete name, address, and line of business. Each listing rated as to capital and credit, based on information and ledger experience compiled during our 20 years' activity in serving American exporters. -- $15 U.S.. Thousands of manufacturers and exporters of the United States and Canada have found our Market Guides, which we have published for 20 years covering Latin America and other markets, indispensable in the careful planning and handling of their sales. If desired, we will gladly send you, without obligation, full particulars and specimen page of our Guide. AMERICAN FOREIGN CREDIT UNDERWRITERS 84 William Street New York, N. Y. R.. _.~~~~~~~~~~~~ Similarly, prices of refined sugar showed increases to 5.20~ and later to 5.35~ with the demand continuing extremely heavy. Quotations on the domestic contract on the Exchange advanced in sympathy with the firmness of the raw market about thirty points from the lows of the period with fairly substantial transactions taking place. On August 12th, Mr. Leon Henderson, Chief of the Office of Price Administration and Civilian Supplies (OPACS), issued an announcement fixing a price ceiling on sugar at 3.50~ duty free New York. This price was some thirty points under transactions consummated the previous day and caused a complete suspension of all business pending clarification of the ruling Further concern was caused by the fear that the price ceiling was retroactive to contracts closed prior to August 14th but not delivered by that date. It was reported that sellers were appealing to Washington for a hearing and that a meeting would be held to clear up the situation generally. In the meantime, trading in the No. 3 Contract was suspended indefinitely and no further quotations are available at time of writing. Transactions on the No. 4 or World Contract on the Exchange have been extremely heavy throughout the whole period and there has been more evidence of purely speculative activity; quotations at the beginning of the period (for September) were 1.23~, and at the close 1.6250 after having reached 1.83~. The belief is held in some quarters that the price for world sugars, f.o.b. Cuba, may approach the equivalent of the domestic price, c.i.f. New York. Quotations on the No. 3 Contract on the Exchange for the period fluctuated as follows: July.......... September.... January...... March........ May.......... July.......... Low High Latest (Aug. 13) 2.504 2.60~ unquoted 2.50~ 2.82~ 2.69~ 2.56~ 2.894 2.72~ 2.58~ 2.89~ 2.72~ 2.60~ 2.93~ 2.75~ 2.62~ 2.95~ 2.774 Reported sales of Philippine sugar during the period amounted to 19,290 long tons at prices ranging from 3.55~ to 3.80~, all of which may be subject to the retroactive feature of the OPACS ruling. The local situation as concerns export sugar is unchanged, and the shipping position is very tight, but some amelioration is expected as it is believed that some exporters whose previous space contracts were cancelled in June have secured the release of a small number of ships. It is now thought likely that between 75,000 and 100,000 tons of the Philippine 1941 dutyfree export quota will remain unshipped, which compares with previous fears of anywhere up to 150,000 tons being left behind. The local consumption sugar market 36 ( The American Chamber of Commerce Journal September, 1941

eased off during this period due to heavy arrivals causing an overstocked position in Manila; buyers' indications fell from P4.20 in the middle of July to a maximum of p4.00 by the close of this period. Exports to the United States during the month of July were very small, particularly for raw sugar, amounting to 10,091 tons centrifugals and 5,220 tons refined. These figures include one shipment of about 3,000 tons on a vessel which later sustained damage and had to discharge her cargo for storage in Manila until repairs to her have been effected and she can return to pick up her commitments. Total shipments from November 1st, 1940 to July 31st, 1941 show nearly 190,000 tons still to be shipped, and are as follows: Tons Centrifugals................. 625,551 Refined...................... 35,567 Total................. 661,118 Real Estate By P. D. Carman Addition Hills and Boulevard Heights Probably due to war uncertainty June and July transfers have been lower than in recent years although both were higher than in 1932, 1933 and July in 1934. The following are the July figures during the past ~,.. ten years: 1932 P 700,595 1937 P1,453,433 1933 797,175 1938 3,302,679 1934 683,129 1939 2,006,615 1935 3,710,535 1940 2,837,317 1936 1,217,026 1941 982,796 Manila strong-material construction was valued at P591,120; in July 1940 P325,460. Sales City of Manila 1941 Copra And Its Products (Report for the month of July, 1941) By Kenneth B. Day & Leo Schnurmacher Market conditions during July followed along the same lines as the market during June, with shipping conditions and rumors continuing to affect the market. COPRA-Copra arrivals were heavy both in Manila and Cebu. July is normally a month of heavy arrivals, but with the exception of the year 1938, arrivals this year constituted a record in both ports. Arrivals in Manila were nearly 12% over June and 8% over July, 1940, while arrivals in Cebu were 65% over June and 55% over July of last year. Leo Schnurmacher Kenneth B. Day The month opened with open quotations of P9.00, but rallied during the first week until P10.50 was quoted. This improvement in price was largely due to additional space provided for shipments of copra on Danish boats which were taken over by the government and which were planned to leave for the United States during July. When this copra space was taken up, buyers began to back away from the market and prices eased off slowly. Considerable sales were made all along the decline down to P8.50, but at the end of July, buyers were quoting P8.00 with practically no business being done at this level. The Pacific Coast market was fairly strong throughout the month for copra in space supplied by sellers, ranging from $3.60 to $3.85 per 100 lbs. The space available to Philippine shippers was, however, very quickly taken up and Pacific Coast buyers, with space in hand, gradually forced the market down to not more than $3.00 at the close. The lack of shipping space is forcing a double market for copra; offers in "sellers' space" commanding a premium, = -- Sta. Cruz.......... Sampaloc.......... Tondo............. Binondo............ San Nicolas........ Ermita............ Malate............ Paco............... Sta. Ana.......... Quiapo............ San Miguel........ Sta. Mesa.......... Pandacan.......... Intramuros......... June July P157,452 P113,528 216,867 256,707 107,780 96,413 40,000 6,600 85,132 73,759 40,533 12,237 57,667 76,010 44,137 73,494 33,714 55,220 6,817 29,291 87,180 157,180 22,481 28,896 878 3,461 23,800 P924,438 P982,796 SMOKE for Satisfaction and Economy LA YEBANA CIGARS & CIGARETTES MANILA Sold Everywhere OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I..0 The Americam Chamber of Commerce Journal September, 1941 37

while bids in "buyers' space" are much less, and the difference in value amounts to 20% and even more. Copra shipments were comparatively light for the season. Statistics for the month follow: Arrivals: Sacks Manila................... 509,101 Cebu...................... 524,445 Shipments: Metric Tons Pacific Coast............ 9,175 Atlantic Coast........... 4,494 Gulf Ports............... 4,231 China and Japan........ 786 Other Countries......... 258 Total............. 18,944 future, were worrying the local mills, but the space provided by the Danish vessels for shipments during July and August took care of the production during July. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 5,652 Atlantic C.oast........... 5,969 Gulf Ports............... 8,713 China and Japan......... 39 Total............. 20,373 Shipping Review (July, 1941) By Associated Steamship Lines The total Revenue Tonnage figures for July 1941, are 244,471 Tons, for a total of 78 sailings. Compared with figures for the month of June 1941, the tonnage shows a decrease of 38,846 Tons. SUGAR: Tons Centrifugal/Raw............... 9,909 Refined....................... 5,663 Total July.................... 15,572 Total June.................... 52,729 Decrease........................ 37,157 COCONUT PRODUCTS: Distributed as follows: Beginning of month Stocks on hand: Tons Manila & Cebu.... 17,634 End of month Tons 12,816 Beginning of month Stocks on hand: Tons Manila............ 36,109 Cebu............. 26,697 End of month Tons 38,438 31,903 COCONUT OIL-The coconut oil market on the Atlantic Coast remained practically unchanged throughout the month with bids for future shipments at around 5-3/40 c.i.f., and prompt shipment commanding a premium. Reports that Norwegian ships, which have been carrying much of the coconut oil from the Philippines to the Atlantic Coast, were being withdrawn in the near COPRA CAKE & MEAL-A few local sales of copra cake were made at unchanged prices but no Philippine meal could be sold to the United States because of the entire lack of new shipping space for this product. Shipments of meal to the Pacific Coast were very light and present outlook for future shipments is even worse. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 2,255 China and Japan......... 96 Total.............. 2,351 United States Tons Desiccated Coconut.. 8,063 Coconut Oil. 17,322 Copra..... 21,929 Copra Cake & Meal.. 3,248 50,562 China & Japan Europe Tons Tons Misc. Ports Tons 12 773 96 881 - 250 - 250 Beginning of month Stocks on hand: Tons Manila & Cebu.... 10,976 End of month Tons 9,139 ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc. New York Silver Line, Ltd. London Java Pacific Line Batavia Leif Hoegh A/S New York Operating the Following Services: KERR-SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) -Oo Trade I 2-15-21 & Tels. 2-15-22 Commerce Bldg. L 2-15-23 MANILA DESICCATED COCONUT- Conditions remain unchanged with desiccated coconut. All desiccators are continuing to work at full capacity and to ship as fast as they can secure space. Shipments during July amounted to 5,124 metric tons. GENERAL-The market for copra and its products remains practically unchanged and entirely dependent upon shipping space. Each month there are rumors of vessels being taken from the run, the particular point at issue at the present time being the imminent withdrawal of Norwegian bottoms, which have been the mainstay for shipments of coconut oil and copra. On the other hand, the taking over of Danish vessels may leave sufficient additional tonnage to take the place of any Norwegian vessels to be retired. With present freight rates, copra is decidedly not wanted by any shipping company, and normal shipments cannot be expected to be maintained without some definite allotment of space for this commodity. It is believed that a normal supply of copra is essential for the United States, since legal enactments definitely restrict the amount of coconut oil which can be shipped. There has, however, been no move to put copra on a priority basis, and no such move is in sight at the present time. 38 Tons Total Tonnage July............. 51,693 Total Tonnage June.......... 54,714 Decrease....................... 3,021 HEMP: Distributed as follows:Bales China & Japan................. 14,985 United States.................. 82,348 Europe......................... 1,623 Misc. Ports.................... 9,638 Total Bales July................ 108,594 Total Bales June............... 96,376 Increase....................... 12,218 IL Southern Islands CPuises Cebu-Dumaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 il The Amencan Chamber of Commerce Journal September, 1941 (

LOGS & LUMBER: Distributed as follows: SUMMARY OF TONNAGE DURING JULY, 1941 China & Japan............... United States................ Europe...................... Misc. Ports................. Bdft. 7,974,334 3,208,458 442,519 Pacific Coast Canada Atlantic Coast " China Japan N. E. Indies Strait India, Indo China & Siam 340 38 17,776 86,091 7,148 Total Board Feet July........ 11,625,311 Total Board Feet June........ 11,426,320 Increase..................... 198,991 ORES: Distributed as follows: Honolulu U.S.A. Pacific Local " Atlantic Intercoastal via Pacific Pacific Overland Atlantic Gulf July 1941 Tons 534 43,104 3,010 4,991 64,117 12,944 July.1940 Taos 414 28,684 3,252 92,407 3,858 2 179 790 13,850 122,040 596 1,084 9,682 795 1,429 Europe Australasia Africa West Indies, Cent. America, South America Total number of sailing 1941-78 vessels. 2,324 203 397 658 802 721 rs during July United States Tons Copper. Chrome. 29,243 Iron.. Manganese 3,702 32,945 China & Japan Tons Misc. Europe Ports Tons Tons 80,230 -26 - 80,256 - D I Tons Total Tonnage July............ 113,201 Total Tonnage June........... 124,992 Decrease..................... 11,791 CONCENTRATES: Distributed as follows: U Copper.. Gold.... Lead.... Zinc.... Inite State Ton 1,5,d China & Misc. Os Japan Europe Ports s Tons Tons Tons 502 -- 81 - - 1,583 Total Tonnage July.............. Total Tonnage June.............. Increase........................ Tons 1,583 311 1,272 OTHER COMMODITIES:TONS SHIPPED Leaf Tobacco Cigars & Cigarettes Rope...... Embroideries... Kapok.... Furniture Gums..... July June Inc. Decr. 59 335 - 27 942 881 532 942 344 248 219 462 657 1,344 124 207 61 96 392 243 687 83 Molasses.. 124 112 12 Vegetable Oil Products 413 985 - 572 Other Commodities not lested above... 21,221 9,241 11,980 A, I I I I I T 1-1 k, PORT AREA MANILA The American Chamber of Commerce Journal September, 1941 39

Rice Review (July, 1941) By Dr. V. Buencamino Manager, National Rice & Corn Corp. RICE July was a sellers' market market featured by substantial price increases a n d brisk trading for actual and speculative requirements prompted by dwindling supply and heavy demand f r o m consuming centers. In an un interrupted upswing the price of Macan No. 2 reached P6.10, the maximum price fixed by the government, an increase of 55~ in three weeks' time. The other grades, for which no price ceiling had been fixed, continued to register material enhancement in value until the last week, Elonelon No. 1 rising from P6.05 to P6.90. Further price appreciations could have materialized with the realization of shortage in supply had it not been for the NARIC's pegging of its price of Macan No. 2 at P6.00 and the government's decision to bring in rice from abroad. These steps taken by the government served as a wet blanket over the market. Apprehensive of the possible adverse influence of imported rice, millers started to mill full blast and relieved the momentary scarcity. Under pressure of more liberal offerings prices eased off 5~ for all grades on the last few days of the month. Arrivals in Manila Month Rail Water Total Sacks July, 1941.... 209,261 34,545 243,806 July, 1940.... 149,038 4,512 153,550 June, 1941... 123,266 25,023 148,289 Shipments to provinces by water Month Quantity Sacks July, 1941..................... 91,750 July, 1940..................... 142,888 June, 1941.................... 90,697 PALAY Prices worked higher all around in a strong market virtually bare of supplies. Bids for ordinary varieties underwent a succession of upward revisions touching the 3-peso mark in Cabanatuan the last week. But as the rice market softened, buyers reduced their ideas by 5~ on the closing days. epe da le ASehuce 8 2uaalt, Tobacco Review Oa 4^ 54 ~~CAR / AL CARMELO & BAUERMANN, INC. FUJit F/9e *. Pwdie o Pawpe4 L^z McVae* e Si/ S cee4e PAce&i * hei/e P/zidii (July, 1941 ) By Alhambra Cigar & Cig. Mfg. Co. TOBACCO: The market in local and export grades continued dull. Shipments abroad reached a record low in July, partly due to temporary lack of shipping opportunity for United States destination. Comparative figures are as follows,: Rawleaf, Stripped Tobacco and Scraps Kilo's China............... 24,691 Other Countries...... I h Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats July 1941 June 1941 July 1940 January-July 1941 January-July 1940 24,691 161,461 3,180,345 2,026,197 6,593,238 CIGARS: Shipments to the United States compare as follows: July June July January-July January-July 1941 1941 1940 1941 1940 Cigars 14,091,054 24,837,010 20,526,022 91,567,212 122,814,754 Shipbuilders a n d Provisions Gypsum run of the mine values in 1940 were $1.41 per ton in the United States. When gypsum has to be imported into the Philippines (for manufacture of cement) it sells for about $28 per ton today, on account of the increased ocean freight rates. In recent years there has been a strong trend toward use of chrome-magnesite refractories. It has been found that these materials in combination are vastly superior to either of them alone. A ratio of 60% to 75%o chrome ore to 40% to 25% burned magnesite is preferred for general basic refractory purposes. SIMMIE & GRILK Phone 2-16-61 MANILA Port Area I 40 The American Chamber of Commerce JournoJ September, 1941 (

COMPARATIVE VALUE OF PRINCIPAL GROUPS OF EXPORTS DURING JULY, 1941 WITH JUNE, 1941, AND JULY, 1940 1941 1 9 40 Percent@ ____ _____ increase or Article Group July June J decrease (P ) (Pesos) (Pesos ) Pe July, 1941 TOTAL EXPORTS.......... 28,615,358 28,239,743 24,585.583 16.4 Mirnerals and metals, total........ 10,821,147 9,735,837 7,328,141 47.7 Coconuts, coconut oil, copra and other coconut products, total... 6777,360 7,523,483 3,232,017 109.7 Fibers and manufactures, total... 3,693,986 3,300,189 2,218,866 66.5 Sugar and related products, total. 1,830,592 4,227,932 7,673,145 - 76.1 Logs, timber and lumber, total... 1,290,101 466,697 755,954 70.7 Cotton, textiles, embroideries and miscellaneous fiber products, total 1,004,608 799,387 774,124 29.8 Fruits and preparations, total 975,072 139,067 862,298 13.1 Tobacco and manufactures, total. 678,020 630,269 686,588 - 1.2 Fish and fish products, total 92,821 56,592 28,417 226.6 Miscellaneous, total.............. 85,415 87,160 54,959 65.4 Rubber and manufactures, total. 59,699 64,460 41,501 43.8 Wood, bamboo, reed and rattan manufactures, total.......... 49,258 59,780 28,638 72.0 Soap and toilet preparations, total. 49,244 42,164 (2) Nuts, total..............48,705 72,320 102,019 - 52.3 Gums and resins, total....43,27 56,268 43,323 - 0.1 Beverages, wines, liquors, total... 32,740 29,540 19,987 63.8 Animal products, inedible, total.. 18,619 32,214 46,692 -60.1 Herbs, leaves and roots, crude, total........................... 5,580 4,900 (2) Meat products, total............. 2,926 2 (2) Oils other than coconut, total.... 1,902 28,545 2,763 -31.2 Medicinal and pharmaceutical preparations, total................. 1,330 716 (2) Vegetables and preparations, total. 1,187 2,840 3,563 - 66.7 Animals, edible, total............. 770 1,230 100 670.0 Chemicals, total............194 82,743 17,043 - 98.9 Other animal and animal products, total........................... 150 6,765 (2) Seeds, total..................... 11 2 (2) Grains and preparations, total... 3 4,202 278 - 98.9 Miscellaneous plant products, total. 1,040 231 -100.0 Re-exports....................... 1,050,642 783,401 664,9341 58.0 COMPARATIVE VALUE OF PRINCIPAL GROUPS OF IMPORTS DURING JULY, 1941, WITH JUNE, 1941, AND JULY, 1940 r l I Group of import TOTAL IMPORTS........... Metals and manufactures, total... Textiles, fibers and mangufactures of, total........................ Non-metallic minerals, total...... Grains and preparations, total... Tobacco and manufactures of, total Paper and manufactures, total... Dairy products, total............. Chemicals, drugs, dyes and medicines, total.................... Rubber and -manufactures, total.. Miscellaneous, total.............. Explosives, fireworks and ammunitions, total..................... Cacoa, coffee, tea, total.......... Vegetables and vegetable preparations, total..................... Animal products, inedible, total... Soap and toilet preparations, total Pigments, paints and varnishes, total........................... Meat products, total.............. Beverages, wines, liquors, total... Fruits and fruit preparations, total Fish and fish products, total..... Roots, herbs, barks, etc., total.... Sugar, molasses, syrups, total.... Gums, resins, oils, total.......... Wood and manufactures of, total.. Miscellaneous vegetable preparations, total..................... Other inedible animal products, total........................... Vegetable oils and fats, edible, total Other edible animal products, total Spices, total..................... Seeds (except oil seeds) and nursery stock, total............... Nuts and preparations, total..... Cork and manufactures, total.... Fertilizers and fertilizer materials, total.......................... Animal oils and fats, edible, total. Manufactures of straw, rushes and palm leaf, total................ Animals. total.................... July 1941 34,009,484 7,099,234 7,061,274 5,381,658 2,126,448 1,859,264 1,785,744 1,448,314 1,414,168 1,074,864 733,678 557,110 466,854 413,310 373,178 296,522 293,630 248,630 228,592 212,616 198,868 173,440 145,896 135,400 82,098 48,142 June 1941 27,366,818 6,747,912 6,127,680 3,260,788 1,805,364 1,746,582 1,077,020 885,768 1,158,888 572,222 723,726 1,210,946 213,982 398,896 418,904 208,226 250,094 149,354 220,160 250,428 285.528 95,564 119,650 94,114 73,976 32,050 Is July 1940 26,004,788 6,840,802 4,806,802 8,242,860 11,212,728 1,674,496 1,436,880 1,630,666 978,824 677,454 721,066 121,788 270,692 390,890 354,576 807,672 268,912 165,930 51,588 190,532 194,214 66,684 149,292 77,814 81,464 22,038 16,904 60,332 23,298 5,912 3,850 2,448 9,906 632,506 1,298 4,870 9,010 Per centt increse or decrease over July, 1940 80.8 12.0 46.9 66.0 '75.8 11.0 24.s - 11.2 44.6 86.1 1.8 857.6 72.6 5.7 5.2 - 8.6 9.2 46.8 843.1 11.6 2.4 160.8 - 2.3 74.0 0.8 118.4 175.6 - 51.1 18.9 113.7 287.5 816.9 - 36.3 -- 99.2 168.9 - 59.9 - 83.8 (a' Minus sign (-) indicates a decrease. (2) Over 1000 per cent. 46,582 29,526 27,712 12,634 11,306 10,206 6,414 4,286 3,426 1,954 1,456 26,432 78,298 26,398 6,362 10,300 6,580 1,574 59,824 2,734 3,452 202 TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: JULY, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL EXPORTS.......... 28,615,358 100.0 American........................ 13,868,084 48.5 Mail............................. 7,158,615 25.0 Norwegian....................... 3,940,511 13.8 Philippine....................... 938,610 3.3 Panaman........................ 699,980 2.4 Japanese......................... 653,883 2.3 British........................... 523,919 1.8 Dutch............................ 390,128 1.4 Swedish.......................... 239,863 0.8 French........................... 197,796 0.7 Aircraft......................... 3,969 (1) (1) Less than 0.1 per cent. (@ Minus sign (-) indicates a decrease. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: JULY, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) Value Per cent of Nationality of carrying vessel (Pesos) total TOTAL IMPORTS........... 34,009,434 100.0 American........................ 15,043,062 44.2 Norwegian....................... 7,587,382 22.3 Philippine........................ 5,570,582 16.4 Dutch........................... 1,773,720 5.2 Japanese......................... 1,340,604 3.9 British........................... 1,015,120 3.0 Panaman........................ 902,174 2.7 Mail............................. 606,204 1.8 French........................... 141,820 0.4 Aircraft......................... 28,766 0.1 TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: JULY AND JUNE, 1941 July June Per cent@ Port of entry Value Per Value incee ofesValuef June to (Pesos) total (Pesos) July TOTAL IMPORTS.......... 34,009,434 100.0 27,356,818 24.3 Manila........................ 30,881,550 90.8 25,252,344 22.3 Cebu............................. 1,823,712 5.4 1,128,898 61.6 Iloilo............................ 572,208 1.7 269,330 112.5 Davao........................... 90,190 0.3 98,534 - 8.6 Legaspi.......................... 85,164 0.2 7,614 (2) Jolo............................. 24,986 0.1 25,334 - 1.4 Zamboanga....................... 52,650 0.1 42,170 24.9 Jose Pafiganiban................. 478,954 1,4 632,594 -10.1 Aparri........................... 20 (1) (2) (1) Less than 0.1 per cent. (2) Over 1000 per cent. @ Minus sign (-) indicates a decrease. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF ORIGIN: JULY AND JUNE, 1941 Port of origin TOTAL EXPORTS......... Manila.......................... Cebu............................ Iloilo............................ Davao.......................... Legaspi.......................... Jolo............................ Zamboanga..................... Jose Pafiganiban................ July June Per cent@ Per cent increase, Value of Value June to (Pesos) total (Pesos) July 28,615,358 100.0 28,239,743 1.3.17,389,736 60.8 18,454,977 - 5.8 5,684,241 19.8 3,503,322 62.3 895,087 3.1 2,083,213 - 57.0 2,210,134 7.7 1,842,475 20.0 134,202 0.5 693,675 - 77.4 4,164 (1) 5,019 - 17.0 822,362 2.9 477,733 72.1 1,475,432 5.2 1,279,329 15.3 @ Minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. The American Chamber of Commerce Journa September, 1941 43

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending July 19, 1941, as compared with the sanme period in 1940, are given at right: The volume of commodities received in Manila during the months of April, May, June, and July 1941, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING I NTTMIRRR O.5I I F i DRR'Tf'LI'1' ---,-Z — COMMODITIES FREIGHT CARS TONNArEI 1 TONNAGE increase or Decrease Rice................. Palay................ Sugar................ Sugar Cane.......... Copra................ Coconuts............. Molasses............. Hemp................ Tobacco.............. Livestock............ Mineral Products.... Lumber and Timber. Other Forest Products Manufactures........ All Others including L.C.L............ 1941 683 70 108 450 204 2 1 12 35 163 360 282 2,478 4.848 1940 601 74 207 581 71 5 9 19 296 340 186 2,468 1941 11,232 1,105 3,316 4,554 2,622 59 7 118 359 2,230 9,713 4,585 26,388 66,288 1940 Cars 8,350 82 1,117 ( 4) 6,461 ( 99) 5,738 (131) 701 133 - 2 35 ( 4) 94 3 205 16 2,479 (133) 8,480 20 2,731 96 19,306 10 55,697 ( 9) Tonnage 2,882 ( 12) (3,145) (1,184) 1.921 59 ( 28) 24 154 ( 249) 1,233 1,854 7,082 10,591 TOTAL.......... COMMODITIES APRIL MAY JUNE JULY Rice, cavanes..................... 124,236 140,315 123,382 206,970 Sugar, piculs.................... 173,159 48,753 126,624 64,299 Copra, piculs.................... 107,447 178,108 128,744 186,347 Desiccated Coconuts, cases........ 61,982 85,078 99,664 74,828 Tobacco, bales................... 68 781 1,170 3,049 Lumber, board feet.............. 2,535,167 2,898,630 3,823,493 3,285,188 Timber, kilos.................... 1,774,000 1,734,000 1,707,000 1,636,000..................................1,170 1 SUMMARY Week ending June 28, 1,198 1,193 15,802 13,282 5 2,520 s, July 5, 1,020 1,118 13,592 13,557 ( 98) 35,, 12, 1,223 1,275 17,331 14,462 ( 52) 2,869,,,, 19, 1,407 1,271 19,563 14,396 136 5,167 TOTAL........ 4,848 4,857 66,288 55,697 ( 9) 10,591 NOTE-Figures in parenthesis indicate decrease. Foreign Exchange Review (July 24th to August 23rd, 1941) By J. Rapoport August generally being a slackmonth for business proved to be of no exception as far as foreign exchange market was concerned. Throughout the whole period under review the volume of ex extension of the Foreign Funds Control to China and Japan by the Executive Order of July 26th, 1941. The latter by limiting transfers of funds to China and Japan to not more than P200.00 a month effectively curtailed the volume of local exchange business with these countries. The interbank market opened with small sellers of ready dollars at 7/16% pr. and buyers at 3/8 % pr., several isolated transactions being booked at the latter rate. Undertone of the market remained uncertain though it was felt that any tension caused by the political situation would result in a lower dollar-peso rate for there would be a strong demand for ready pesos. Throughout the first half of August interbank sales of ready dollars were continuously booked at 7/16 and 3/8% pr. with the volume being very small indeed. Merchants' rates, however, showed that the banks were not good buyers of dollars, the rates being 1/2%7 pr. for selling clean T.T. and only 1/4% pr. for buying. From the middle of August pressure I sell ready dollars has somewhat increased and they were offered freely at 3/8% pr. with buyers quoting cautiously 5/16% pr. It is quite possible that cash position of the banks had something to do with this easiness as there were fairly larg-e payments made to the Government on account of the second installment of the income tax which fell due on the 15th of August. Throughout the remaining period the dollar rate dropped to 5/16% pr. at which fairly large interbank transactions were booked. Forward rates generally followed the trend with sales closed at 3/8% pr. for October and 7/16% pr. for February 1942, thus making the change-overs possible at 1/16% difference for three months and 1/8% for five and six months. At the close of the market interbank rates stood at 3/8% pr. sellers and 1/4% pr. buyers. Merchants' rates continued unchanged.... '.. change transactions remained at a low level due to small trade requirements and also to the I II, BUSINESS AND PROFESSIONAL DIRECTORY a CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships!I Investments Collections Income Tax 560 Taft Avenue Manila, P. I. -,, 42 The American Chamber of Conmmerce Journal September, 1941

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Ltt "i7kE volunteered their services in assisting the Boy Scouts of the Emergency Service Corps." (We reckon that the Boy Scouts of America, in the Philippines, will not count financial contributions to this emergency effort at all amiss, but rather that they are urgently needed.-Ed.) Warren D. Sargeant -Chairman of the health and safety committee, Boy Scouts of America, Manila. "At a recent meeting of the Executive Board of the Coordinating Committee of the Boy Scouts of America, a plan was evolved and adopted for forming an Emergency Service Corps as an integral part of the Health & Safety Committee. Briefly, the plans were to train the Boy Scouts in: 1. First Aid 2. Sanitation 3. Traffic Control 4. Communications (Visual, Morse and Radio) 5. Storage and issue of supplies 6. Typhoon, fire, evacuation and other disaster relief service. "The Emergency Service Corps has for its purpose the preparation and training of Senior Boy Scouts for complete emergency service in the community which they may render as a Patrol (of approximately fifty Boy Scouts), or as a unit (of five to ten Boy Scouts) in their scouting capacity. In the present national emergency, it was decided to extend the training to all the American Boy Scouts in the Manila area because an acute shortage of American boys exists at this time. Each applicant to the Emergency Service Corps first secures his parent's and his Scoutmaster's approval, then presents these with his application for a medical examination to further determine his fitness to execute the responsibility for service which he voluntarily offers. Simultaneously, it is intended to supervise or direct the activities in such a manner that no Boy Scouts will be overworked or his health and safety endangered. "Through the cooperation of the Philippine Red Cross officials and the Health & Safety Committee, Boy Scouts of America, a course in special First Aid Training is being conducted by Doctor Romeo Y. Atienza on Saturdays from 10 to 12 and Mondays from 2 to 4 p. m. The purpose of this training is to form the Boy Scouts into units of at least four each for special preparation in ambulance service. "KEEP 'EM FLYING" "Other courses are envisioned in the above subjects with the cooperation of other organizations or individuals. "Boy Scouts are a definite and valuable asset to any community. In Manila, much credit is due them for their valuable help during both the Tondo fires and the recent evacuation of British refugees from Hongkong. Every citizen should learn to know that the Boy Scouts are always well informed, capable, and willing to help in any occasion of public activ ity or in any emergency. "The present members of the Executive Board of the Coordinating Committee namely, Mr. Harold N. Wilson, Mr. Robert N. Miller, Mr. Lesleigh H. Davis, Mr. Richard C. Corkle, Dr. Warren D. Sargeant have KLEIN Electrician's Pliers and Linemen's Equipment REPRESENTING THE HIGHEST STANDARD IN THE FIELD E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 ji THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. Subscriptions P4 a year - Foreign P6 - -1_ HALLICRAFTERS WORLD'S LARGEST BUILDERS OF COMMUNICATIONS EQUIPMENT --------- Aaft -11I.1 The SKY BUDDY The new SKY BUDDY is SIX MODELS TO SELECT FROM an amateur receiver in every respect, covering Model No. Description Tubes Retail everything on the air S-19 R Sky Buddy 6 1 50.00 from 44 mc. to 545 kc., S-20 R Sky Champion 9 215.00 including the 10, 20, 40, SX-25 Super Defiant 12 460.00 80 and 160 m er a - SX-28 New Sky Rider 28 15 730.00 80 and 160 meter ama- aveler 9 245.00 S-29 Sky Traveler 9 245.00 teur bands. It now em- EC-I Echophone 6 100.00 ploys the same electrical bandspread system used in higher priced Hallicrafter models. The more important features are: Electrical bandspread, broadcast band, BFO, AVC sw:tch, phone jack, pitch control, built-in speaker. * Liberal Discount for Cash F. H. STEVENS & CO. Sole Distributors 227 DAVID-MANILA I. The Amierican Chamber of IColmerce Journal October, 1941 3

!, -- IL LUZON BROKERAGE CO., INC. Derham Building MANILA P. 0. Box 591 Port Area Tel. 2-24-21 Licensed Customs Brokers Heavy Trucking Foreign Freights Contractors Forwarders Warehousemen Li F A grand drink any time a L Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! Here's how to get Manilas! List of D i stributors furnished upon request to 'I $?an *itiuel 9ale 9ilsn The Best of Good Beers Since 1890 PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avellue N. W., Washington, 1. C. or COLLECTOR OF INTERNAL REVENUE tManila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco 'Products "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;...". 4 The America), Chamber of (in,,,,,rcce Jouriva Octobcr, 19.i1

Officials of The Department of Finance Their chief duty is to collect Seventy Million pesos every year for the government. They also supervise financial and credit institutions and operations within the country. Hon. Serafin Marabut Secretary of Finance Mr. Bibiano Meer Collector of Internal Revenue [Continued on next page] The Amrcican Chamber of Commerce Journal October, 194i 5

:Mr. Apolinario de Leon Treasurer of the Philippines Mr. Pedro de Jesus Bank Commissioner Mr. Pablo Lucas Director of Printing Mr. Cipriano Unson Purchasing Agent Commonwealth Government Mr. Fabian Millar General Manager Philippine Charity Sweepstakes Office Capt. Manuel del Villar Deputy Insular Collector of Customs Mr. Crispin Llamado Deputy Collector of Internal Revenue Mr. Generoso Graw Assistant Treasurer of the Philippines Mr. Felix de la Costa Assistant Bank Commissioner 6 The American Chamber of Conmmerce Journal October, 19l! (

The Philippines New Crop: Ramie A war need of the United States and Britain, ramie (china grass) is being extensively planted in Mindanao from Japanese beginnings at Davao. Natural fiber is a wonder of nature. We suppose, from examination of botanical lists of the Forestry bureau at Manila, that few regions of the world are as richly endowed with good fiber plants as are the Philippines, where they number in the hundreds. Yet there are always selections to be made, and among all Philippine fibers, Manila hemp tops the list. However, war demands what peace neglects. Just now, war demands flax substitutes. Manila hemp is none of that, and ramie is. So ramie, Boehmeria nivea, or china grass, rapidly spreads in Mindanao from the original Japanese experiments in Davao-a new commercial fiber crop for export. The Irish flax supply is short of the needs of war. Ramie substitutes flax nicely. It substitutes many things. Cotton, a renowned fiber, may be king in the textile world, but ramie is certainly the queen of the ersatz world, the world of industrial substitutions. And ramie is a natural in Mindanao, from all reports it grows there as if it were indigenous to the soil. The illustration we use is a scene on Kling Plantation, Cotabato. The foreground shows young ramie, the left background shows a mature crop. Of the abundance of this crop there can be no question. If you know canton linen, you known the kind of thread ramie fiber spins into. It's great. It is reported from Koronadal, Cotabato, that Bisayan planters, many from Negros, have gone down there and are getting hold of good ramie lands; and some of the govern ment settlers have caught the enthusias;m. There is of course Federal encouragement of all this, the need for the prepared fiber being urgent. Major Howard S. Reed, U. S. A., is at Koronadal lending verbal counsel and encouragement to eager growers. Has the United States snitched another industrial secret from the Germans? It would seem so, or at least that she is about to do so. For heretofore, Chiina has been the big source of c1iina grass and Germany has bought about 90% of the portion fit for export. Germany knows ways of processing ramie fiber, to make it soft as silk, almost, while it bleaches completely white and keeps its toughness and tensile strength. How to do this is supposed to have been learned in the United States, either through laboratory experiments or through transplanting Germany's secret to America. It is a secret heretofore closely guarded, as it gave Germany a monopoly on ramie processing for textiles. But the secret is supposed to have leaked, by way of southern France. Of the actual truth of this, we can say nothing. Let's all hope that not only is America able to process ramie for all sorts of spinning and weaving, but that her ways of doing so surpass the German ways. For ramie is rated 7 times as strong as cotton, 2-1/2 times as strong as silk. Not only is ramie reported much stronger than cotton, but it is claimed that it resists higher temperatures and moistures. Strand for strand, it is reported more than twice as strong as Manila hemp. What will farmers get for ramie? The Army says, plenty. (We of course consulted Dr. Arthur F. Colonel Fischer, U. S. A., long-time director of the Philippines forestry bureau and more recently adviser on natural resources to Malacafian). Dry ramie fiber as marketed from the farm currently brings P30 to P32 per picul of 140 pounds. When processed as alluded to above, ramie brings about the price of Irish flax, or 1/2 to 1/3 of the price of fine wool tops. There's very little art to be learned in the business of growing ramie. You prepare a field for it much as you would prepare a field for any crop, and sow the seed and await a harvest. It ratoons, too, so that a new crop comes on about every 60 to 70 days according to the season. The fiber as the farmer prepares and dries it is known to the trade as ribbon. Its cellulose binder is generally removed by a decordicating machine, but ramie may also be retted like maguey and sisal, with aid (of running water. Thus roughly processed, it is sun-dried and baled. The Philippines are by no means the only place outside China where it will grow well, but they are among the best of these places; and the acreage is here for the job, and the ships for taking the fiber to New York. Fiber experts at Washington estimate 300 pounds of ribbon an acre from new ramie, an average of 775 pounds per acre during 4 years, when, presumably, it is time to subtitute ramie with some rotation crop and choose another field for additional ramie planting. Japanese did the pioneer work, on Davao plantations, where 6 piculs of ribbon per hectare were averaged during 6 years. Ra, mie has many peace-time uses, so here's a new Philippine fiber crop, Current ramie crop, Kling plantation, Cotabato, where the field in the background is mature and the plants in the foreground are young. The American Chamber of Commerce Journa October, 1941 7

Big Dollars, Little Dollars And Sure Dollars By Dr. Edward L. Hall Past President, Manila Rotary Manager, The Manufacturers Life Insurance Co. In the first place, there are various kinds and degrees of inflation, but the usual laymen's view of the matter pictures an extreme inflation of the character suffered by Germany after the last World War, when prices measured in marks went to astronomical figures. I do not believe for one moment that our situation is analogous to that of Germany. In essence inflation merely means an increase in the price level. Ups and downs in the general level of wholesale prices, and therefore in' the purchasing power of the wholesale (and to a lesser extent, of the consumer's) dollar have occurred throughout the history of the nation, and may well be expected to continue. (See the chart.) Those who look forward apprehensively to a substantial reduction in the purchasing power of the consumer's dollar as a reason for curtailing their life insurance programs, forget their history. For instance, consider what happened during the World War and its immediate aftermath. Statistics show that the advance in the cost of living was so substantial that $1.00 in 1920 would buy at retail-in food, clothing, house rent, etc.-only half as much as $1.00 provided in 1913. There you had a 50 per cent change, just as is now being suggested as likely, but the people took it in their stride. What was the reaction of the public to life insurance during that period? The combined legal reserve life insurance companies of tha United States and Canada found that their customers increased the amount of life insurance in Iorce trom 21 billion dollars at the end of 1913 to 45 billions at the end of 1920. It just happens, then, that during that period when the purchasing power of the consumer's dollar was being halved (and without insuilerable results) tne amount of life insurance, in force was more than doubled. Our resources are vast. North American productive capacity, wealth and other economic resources are sufficiently strong to make the continent far more resistant to inflation than were some of the European countries. We have available also much stronger positive controls now than were ever available before. Your current magazines and newspapers will tell you what these are. I think I can say that a Life Insurance contract is practically inflation-proof. If you buy a bond or a share of stock today you pay for it in full in today's dollars. When the bond matures or you dispose of the stock you receive back your investment in the dollars then current. However, if you buy a Life Insurance policy you usually do not pay for it in full immediately. You make one payment in 1941 dollars, another in 1942 dollars and continue a series of payments of varying value so that it may be said that you acually make ihe investment in terms of dollars of average worth. When the policy matures by death or otherwise the proceeds of the contract may be taken ulder settlement options which permit the payment of the funds over a period of years. This makes possible the payment of the proceeds in dollars of varying value and consequently the whole contract stands an excellent chance of being completed in dollars representing the average value of money over a period that may range up to 50 Dr. Edward L. Hall years. No other form of investment offers ihis opportunity. Perhaps the best way for us to face this problem of inflation is to ask ourselves why we want to save and invest money. For at least 90% of us the answer will be found to be that we want to provide finan. cial security for ourselves and families. That being the case, the question of inflation should have little more than an academic interest for us. The real hazard against which, we must hedge is death, not inflation. We may be able to predict the business cycle but we cannot foretell when death will strike. The Grim Reaper pays no attention to man's monetary policies; he rudely brushes aside our economic theories and gets right down to the hard facts of life —and death. A widow deprived of her breadwinner or an old man no longer able to work will not care much whether he gets "big dollars" or "little dollars",-as long as they are "sure dollars". Only life insurance can give that guarantee. In conclusion I would say, "Buy all the life insurance you need, which is the best hedge over a long period, and then invest the other portion of your surplus as you will. If your investments prove successful your life insurance will be so much velvet. If your investments are not profitable, then your life insurance will provide a guaranteed security for you and for your family when it is most neded. *;::: Twenty-five Years of Inflation and Deflation The man who today is afraid to buy life insurance because of the possible variation in the purchasing power of the dollar may be surprised to learn that during the last twenty-five years he has lived through a very real inflationary period as well as an equally real deflationary period. Yet during this period he continued to pay premiums upon his life insurance, undisturbed by the fact that at the particular time, [Contitined on page 29] 8 The American Chamiber of Comrnmerce Journal October, 194I f

Pioneering Public i Edited summaries of the vivid ago, of School Superintendent quarters were Malaybalay, car of Bu There used to be employed in the education bureau one George C. Kindley whose reports as a supervising teacher and acting school superintendent of Bukidnon are the raciest official documents in the bureau's files. Since we have a copy of some of these reports in hand, we propose to summarize them for our readers. They begin with Kindley getting away horseback to visit a school at Maramag where one Aniceto Ykat was teaching. He overtakes a Monobo whom he fees with a cigar to trail along with him. They converse in gestures. The Monobo swims I.indley's pony across the Kulaman river and ferries Kindley over, and then, after talk with other Monobos met up with, signals that a turn should be made to the right. Kindley takes it that the man knows a shortcut to Maramag, and follows the suggestion: "We had not gone more than 300 meters till we rode up to a treehouse high up in the branches. Here the Monobo halted but made no remarks. I could hear voices, but believing that the unusual silence of the Monobo meant something I waited for results. On making about the fourth attempt to see the occupants of the house, I met the pleasant smile of the Maramag schoolmaster. The ease and dexterity with which he scaled down that 30-foot bamboo pole suggest that he is probably the right man for that settlement. He was spending,Sunday with friends, doing work in the higher branches. Though a Bukidnon, he 'made the Monobo understand when I told him to thank him for his trouble and kindness to me. He learned that the man lived far down the Palangui river and knew little Bukidnon." Kindley found everything going well at Maramag, "even up to the taste of North school man at bureau headquarters. The H. Foreman," a reference to a vocationalschool had been opened the previous April by a teacher later transferred to Damolog. He had got 6 hectares of land fenced and most of it into crops: "corn, cowpeas, ubi were planted so nicely and kept so clean that it really looked beautiful." Kindley always carried Washington coffee with him, otherwise let the teachers provide as they were able. The Maramag teacher sacrificed a chicken and boiled some rice while Kindley prepared the coffee-the Americano maestro enjoyed a good meal. Then he took the teacher with him to Danoolog, fearing language troubles on the Way. They reached Miaban that afternoon and camped beside a kind of resthouse, schools In Mindanao field reports of about 20 years George C. Kindley, whose head)ital of the wilderness province kidnon. where they found shelter from a downpour during the night. Next morning, Kindley's old trail friend the Monobo who guided him to Maramag was on hand with a companion to join the party setting off for Dankagan, where chicken and rice were to be cooked for breakfast. Here they passed strips of wooded land and saw the grazing places of herds of wild buffalo, where the slaty beasts came out at night and pastured on the cogon. Dankagan was a disappointment, just a clearing with only a shed and a house poorly built, with crows the sole sign of The school superintendent's report from Bukidnon that makes up the accompanying story dates about 25 years ago when the primary and vocational schools for pagans and Mohammedans of Mindanao were just being founded. The story tells of schools so founded in Bukidnon, at Maramag and Damolog. The reader will be misguided if he assumes the conditions described by the Kindley report as contemporary, since they are, happily, far in the past. Transportation has greatly improved, public revenue is larger for use of the schools, the very peoples themselves, of the Mindanao tablelands, have made great progress materially and cul'turally. To bring this out in part, we have inquired of the education bureau as to school enrollments at Damolog and Maramag, the communities mentioned in the story, where girls, when Kindley wrote, were not enrolled at all. Damolog's central school now enrolls 109 boys and 45 girls, and Maramag, 150 boys and 50 girls. There are good buildings and dormitories, surrounded by well tilled fields and useful gardens. Pioneer Kindl'ey worked not in vain. School here comprises 21 Monobos, 2 Bukidnons, 2 Moros (Mohammedans), and 7 dogs attending their ambitious masters. "Some of the pupils were very well clothed while others as long as a hoe handle were as nude as the stork had landed them in the settlement. On questioning the teacher as to the cause of no girls in school his answer was, 'They have no clothes.' I then told him to explain to the parents that in the clamor for education clothing is not, in Damolog, an absolute necessity, and was in fact as far away as the third stem among civilized people; in fact, I told him, clothing had all but disappeared along the Atlantic coast of the United States, and that we would be glad to have the girls come to school robed just as their brothers were." This seems to have made no permanent impression. The headman at Damolog rigged a banana leaf in which to visit Kindley, and presently the people began laying gifts of rice, chickens, eggs and other edibles at his feet, the headman explaining that thus Damologians welcomed the stranger. Kindley replied that his practice was to par for everything he used, and after selecting offerings enough for supper and breakfast and paying for them, he had the teacher tell the donors they might take everything else back to their homes. This was the most primitive school in the district; nevertheless, Kindley thought the teacher, there only 2 months, had done remarkably well to have any school at all; he had cleared 2 hectares of land and had part of it planted a second time, deer having eaten the first planting. To get anything through to Damolog from Malaybalay cost exorbitantly; to get the carpentry and academic equipment inhas cost P72 in porters' charges, and it would cost P40 at least to bring in the garden tools. Laces and tattings were among items the bureau then expected Damolog girls to make during their home economics hours. Leaves, preferably of the banana, were the favorite Damolog costume, when dress was thought of at all, and Kindley believed that no satisfactory results could come of adorning such garments with lace. But Damolog was healthful, there were old men in the settlement who had the appearance of Rip Van Winkle, and Kindley thought they had all outslept that celebrated somnipathist. Kindley here describes a wild fowl at Damolog that these pages have already invited attention to in Davao. Kindley doesn't give its name and we ourselves sup ply it, tabon, a kind of woodshen. The constabulary commander first called Kindley's attention to this remarkable birds, without exhibiting specimens, and the district engineer, another American pioneer in Bukidnon, confirmed what the constable said and added something on his own account-so that Kindley believed 3 of the [Continued on page 30] life; Kindley would not stop to breakfast here, where not even a pot for boiling rice existed, but pushed on to Kibawe 3 hours ahead, where, in the center of a clearing of about 10 hectares some ten rudely built houses were standing and people were living. Two pots were commandeered and breakfast served at noon. When at 1 o'clock they pushed.on for Damolog, the village headman of course advised waiting until morning as Damolog was very far and they might be benighted. However, they reached that clearing by 4 o'clock, through heavy rain, and here were "twelve primitive sheds and houses, a teacher's house, and a house for school that goes under the assumed name of 'municipal building'. The teacher's house is a very good one, better than the one I call home in Malaybalay." The American Chamber of Commerce Journal Cctober, 1941 9

American Chamber of Commerce of the Philippines DIRZCTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth H. Dean Hellis C. G. Clifford, Secretary,A Il'I'RNArE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Gundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman X. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs i. A. Perkins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele FOREIGN TRADE COMLMITTEE N. H. Duckworth, Chairman E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meachet E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Hellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather-Rattan) S. M. Jones (Sugar) J. L. Headington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen J. P. McPherson H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean HelUl T. Kevin Mallen A. P. Ames L. M. Hausman H. L. Suarez of these products bolsters the validity of China's cur. rency and thus aids the entry of supplies for China through other means than the Burma road: round-about means perhaps, but effective just the same so long as the yuan is in demand as valuta. So Arnstein doesn't believe in taking a dollar from China for the expert administration of the road, but he does believe in experting the job, with Americans, because they know such jobs from long experience. If therefore the expert administration is remunerated by America, America will wield the boss hand at a very strategic front in the war. Arnstein senses, naturally enough, that Chiang Kai-shek is going to win China's part of the war: in 5 years, 10 years, 20 years, or whatever time it takes; and more significantly, with whatever allies will stand by him to the end. World War II will not turn decisively in the direction that the Russo. German front may indicate. It is going to turn, finally, in the direction that China turns. Arnstein, you see, is a realist as well as) a sentimentalist. He gives his sentiment a practical backing-up. He also remains American. During the few weeks he spent in China and Burma he thought he detected a lot of lotus-eating among old China hands that had undermined their sense of responsibility to a couple of wellknown documents: the Declaration, naive thing that it is, and the Constitution and Bill of Rights, not quite so fallow. In other words, Arnstein believes there is a de. fined American character; when you no longer have it, you're washed up so far as doing your country any good at foreign posts is concerned, and you're pretty well washed up generally. With these views, Arnstein and his associates sat in conference at Chungking with the Chiang Kai-sheks evening after evening, mulling over the report and correlated subjects, with the utmost admiration for their hosts, the Chinese people, and their country. Far from decrying administration of the Burma road as he found it operating, he was astounded that the Chinese were able, with no previous experience, to do so well. His background was truck transportation in America, with which he has grown up from its beginning; he had but to look back a decade or so to find in America most of the muddles that were now holding up things in Burma. He is very wealthy from his transportation interests. He has been in transportation since 1908 with John Hertz, a partner in Lehman Bros., the investment bankers. It was in 1908 that Hertz and Arnstein founded Auto Livery, in Chicago, that in 1915 became the Yellow Taxicab Company, branching to New York in 1923, and going to General Motors in 1926 for a fat sum of millions. With the organization of Yellow Taxicab, the manufacture of cabs had been undertaken. General Motors bought the Yellow Cab Manufacturing Company (cabs and trucks) in 1926 for $43,000,000. The Terminal Cab Company (N. Y.) was organized in 1930. Arnstein bought it in 1935. It operates 600 cabs and has the railway-depot stands; when you go to New York by train, Arnstein gets your first 50 cents. Another Arnstein interest is the Metropolitan Distribu tors; organized 15 years ago, it operates 2,200 trucks. Still larger is Associated Transport, Inc., 8,000 trucks up and down the Atlantic coast. Then there's a nascent holding company; and at Manila Arnstein's staffs were able to cable him, "Best July ever." He was on his way home then, in August, and had left Captain James Wilson in charge at Burma until Washington and Chungking should have time to digest the report and work things out to a permanent basis. Fifty young Americans were already slated for Burma and 30 were enroute over. Captain Wilson had doubled the daily tonnage over the road, and was about to triple it. Schedules had gone DANNY ARNSTEIN'S BURMA ROAD JOB Notice taken by Manila newspapers of the few-days sojourn here of Daniel Arnstein in his return by air from his expert survey of the utilization of the Burma road was most inadequate. Correspondents at Chungking were more alert, learning perhaps that Arnstein's report was so cogently to the point that it had gratified General and Mrs. Chiang Kai-shek more than any other expert's report they had ever received. It was also known that Arnstein had left his business in New York and made the Burma trip, with 2 of his top executives, wholly at his personal expense; and it was further known that to stay on in Burma he could have commanded any pay he wished to specify-he could have written his own ticket. What he actually did was to recommend that America administrate traffic over the Burma road, at her sole charge, and he suggested the men to do it; because he feels that the battlefront in China is America's battlefront just as much as it is China's, and since China gallantly provides the men, the least America should do would be to provide this supervision of the road's heavy traffic. The products leaving China via Burma over this miraculous highway are chiefly war necessities of the / United States and Britain; and besides, the marketing

into operation: if a truck reported out of one station was more than a few minutes delayed in showing up at the next, a wrecking car was off up the road after it. (It is Arnstein's view that Hitler's efficiency is not one-twothree with America's potential: it's forced, America's is voluntary). Chinese drivers took to the schedules like sports, seeing how they got results. But Burma road can't standardize its trucks; there isn't time; it has to take whatever offers and maintain shops under competent mechanics to use parts interchangeably. What's the odds, thinks Arnstein. The business in hand is the winning of this man's war and to hell with the few extra dollars even millions of dollars, non-standard equipment entails. The men he brought to the East with him are Marcos F. Hellman and Harold Davis, tagged among many volunteers in the executive organization that wanted the chance to come along. Hellman is a son of the wellknown Hellman family of the Wells Fargo National Bank, at San Francisco. Harold Davis, in his regular job manages Consolidated Motor Freight. All three old stagers got some genuine thrills in going over the road, especially at the Salween river, where you descerd and ascend by gradients summing elevations of 7,000 feet and the roadway is scant of 8 feet in width. The whole road, a Chinese hand job at marvelously low costs, is rapidly being asphalted. It's a 700-mile stretch from Lashio, the border point in Burma, to Kunming, the dumping point in Yunnan. Trucks run fully loaded both ways, and, aside from military supplies, exports are rather more than imports. Airplanes need no trucking, they fly in; but high octane gasoline is a job for the trucks. Daniel Arnstein was on a holiday at Miami, fishing, when Harry Hopkins got him by long distance and got him to promise to go to Washington to analyze the reports there on Burma road conditions. When he had done this, they said gosh! they wished they had a guy to go out there and put some of those ideas into effect, only... In other words, Hopkins hooked his man. But no New Dealer. Arnstein is just thoroughbred American, not New Deal. No man, he says, who has $2.50, is New Deal. He lives on Park Avenue, at 58th street, and he and Mrs. Arnstein have a son and a daughter in New York's public schools. He was glad, when we talked with him, to be getting home for the World Series. He wanted it to be Brooklyn because he was going to be in there, rooting for the Yankees. He golfs a good deal, and has a place up in Canada where he likes to fish and hunt. Marcos Hellman, in his regular job, runs Associated Transport. Supra: 8,000 trucks. Starting in business as a kid, Arnstein has had to educate himself, and has done it well. However, it is not a system in which he believes; what he believes is that every boy and girl should have college advantages, if they want them; he wanted them, still wants them, but was never able to have them. When he was 7 years old he was a veteran newsboy in Chicago's slums; when he was 13, he was at work in the stockyards at $2 a week, 10 hours a day and more if they thought of it. He works men under a different system, is addicted to bonuses all round-"the more the men make, the more they make for me"-and no man that works for him is ever discharged. ^t^^ a;A NEW EDITOR Editorship of the Journal commencing with the November issue will be in the charge of Robert S. Hendry. The present editor has been granted leave for 6 months. During that period Mr. Hendry will be the acting editor, and the editor-on-leave has every confidence that Mr. Hendry's administration of the magazine will be most successful. He is a Manila publisher of many years' experience; it is unnecessary to enlarge on that fact, since proof of the pudding will be in the eating. Illness takes the older editor away, to the homeland. It has been a pleasant association, of 20 years' duration. That implies a certain age, perhaps an age when the older man should step out and let the younger man step in. So let it be. The fellow stepping out of the picture is grateful for the consistent support given the magazine under his editorship, and confident that this support will continue under Mr. Hendry. He hopes too that the reader feels the editor has seldom let him down or sold him short. Anyway, the record is in, and closed. This is goodby. -W. R..Z A Refreshing & Healthful FRUIT DRINK I LIBBY'S Orange m Juice Concord Grapes AMONG OTHER Tomato Prune Grapefruit ARE LIBBY JUICES Pineapple Peach Apricot LIB B Y JUIC ES Pineapple Peach Apricot

Translations From Dr. Palma We continue translating from the late Dr. Rafael Palma's progress from Legaspi, and prior native times, paper on Philippine economic to our own.-Ed. One of the first steps taken by the American government in the Philippines was the 'stabilization of the currency. The Mexican peso that was current in the later Spanish period in the Philippines, constantly fluctuated in value on the arrival of the Americans in the Islands, owing to changes in the value of silver, especially as it was affected by the demands of the market in China. By an act of congress of 1903, the present monetary system based on gold was established and the situation, after some years, was remedied. Another important measure of the American government was the solution of the agrarian question involved in the ownership by religious corporations of large plantations. It was learned that one of the causes of the revolution against the Spaniards was the hostility that motivated Filipinos living on the friars' plantations, who believed themselves badly treated and abused by the plantation administrators. The American government wishing to obviate such sources of discontent without delay, arranged the purchase of the plantations by the Philippine government to resell them in suitable areas to the tenants on long-term payments. The number of tenants was 60,000 to 70,000. The area of the estates was 425,000 acres, 275,000 in the vicinity of Manila, 25,000 in Cebu, and 125,000 in Isabela and Mindoro. The Pope authorized the sale, for $7,000,000 that was raised by sale of Philippine public bonds (the Friar Lands Bonds.) in the United States, at a low interest rate, so that former tenants on the estates made themselves owners of the fields they tilled and the sites of their humble homesteads. Effort to aid Philippine agriculture was for some years unsuccessful, given the little familiarity the Americans had with the difficulties of the situation. The rinderpest that reigned among the cattle and buffalo.of the Philippines cost a great deal of money in experiments to overcome it, and these experiments were for a long time.only partially effective. The same may be said respecting food crops, augmenta tion of which was lost sight of in the desire of the personnel of the agricultural bureau to introduce new plants and acclimatize them. The government founded various experimental stations, but given the reluctance of farmers to adopt new methods and improve cultivation, little was gained until the experts found it more practical to demonstrate to farmers on their own lands what could be done by utilization of scientific methods. Agricultural production has advanced constantly under America, if somewhat slowly, but this is due rather to the overseas demand for Philippine products than to aid extended by the government. (This is true, in the broad sense. Nevertheless, rinderpest was conquered 20 years agothe provinces now swarm with healthy livestock, a condition that affords the plowman a low-priced buffalo and the village low-priced beef. Similar work on swine has also made pork widely plentiful and of good quality, fit to be sold under sanitary regulations in Manila herself. Poultry has similarly multiplied, raising the / Manila north port as recently photographed. The American Chamber of Commerce Journal October, 1941 (

supply of fresh eggs and fowls in village and city markets. In the aggregate, the Philippine husbandman has thus been directly helped by the government to add many millions of pesos to the value of his livestcck and domestic fowls; and an animal-husbandry expert, long on the faculty of the agricultural college at Los Bafios, heads the University of the Philippines. -Ed.) World War I created a special demand for Philippine commodities overseas, and stimulated a larger production. The following statistics demonstrate the increment in production during the past 30 years. From the time that Filipinos came to have the major intervention in the management of their government under the Jones law of 1916 (the Philippine Autonomy Act), more attention was paid the country's problems of economics and the development of their natural resources. For more production of rice, large appropriations were made for construction of irrigation systems to the end not merely of insuring the harvest and not to be dependent on the weather, but also to make the country self-supporting as to rice and to eliminate importation of rice from Saigon. The results have been highly satisfactory during some years, but it can not be said that rice enough is grown at home to supply the country and that further importations are unnecessary. Rural credit associations were established to inculcate in farmers the habit of saving and the spirit of cooperation, the objective of the associations being to accommodate their members with small loans for the making of crops. Much was hoped of these associations as means to help small farmers and liberate them from usury, but whether it came of faulty administration of the law, or from the people's poor understanding of it, the advantages obtained in other countries through similar laws have not been realized in the Philippines. The Philippine National Bank was established (1916) with the objective of extending credit to Filipinos, its original capital fixed at P10,000,000. When it had operated satisfactorily for some years, and finding itself with much capital accumulated during the World War, it turned to speculation and offered liberal credits without sufficient security, so that when the postwar depression ensued it had many uncollectible loans outstanding and its activities were so reduced as to leave it practically bankrupt, its credit in the commercial world much undermined.* The government also embarked in commercial enterprises of doubtful outcome, with the idea of exploiting the mineral resources of the country. Finding it impossible to interest private capital in ventures requiring considerable outlays of funds, the government created the National Coal Company, the National Cement Company, the * Under Governor General Leonard Wood the Philippine National Bank was, about 1923, rehabilitated and capital restored to it from sale of bonds in the United States for the purpose, and the follies enumerated by Dr. Palma have not been repeated. In the process of placing the bank on sound new foundations, loans it had extended, to a value of many millions of pesos, were transferred to profit & loss and written off as uncollectible; but good times ensued almost at once, when most of these loans turned out ultimately good, and from collections on them year after year have come substantial portions of the bank's annual net profits. More immediately however, some P40,000,000 ventured as actual capital in 6 large sugar mills turned profitable. The 40 millions, plus additional advances to save them, plus annual interest, were all repaid in full, and in the interim the bank transacted the mills' exporting business and much business naturally incidental to such a situation, the bank in the capacity of a factor and fiduciary agent for its clients, who from nominal ownership in the 'mills advanced, by means of payments, to actual ownership and became a newly wealthy element in the cane valleys. Meantime, of course, there were dismissals and prosecutions, and the bank management was changed: the profligate years were lived down long ago.-Ed. National Iron Company, and the National Petroleum Company, all under auspices of the National Development Company, that financed them. These companies had varying fortunes; while the cement company prospered, the coal company stood a total failure. The plan was not so much to find new sources of public revenue in the various companies as it was to demonstrate to capitalists the possibilities latent in the exploitation of Philippine natural resources, and to sell the companies to private capital once they had been placed on a paying basis. The outstanding success to be attributed to Filipinos is the expansion of means of communication such as the extension of [Continued on page 22] LL A LOCK IS NO PROTECTION... Fire is no respecter of locks. Fire is the arch-enemy that works from within... Like a thief in the night... when no one is on guard... Fire ravages and destroys, sometimes the savings of a life-time. Don't let down your guard. Stay protected... Stay insured with The Philippine Guaranty Co., Inc. If you are not insured, insure at once and be safe. Your inquiries are welcome. There's no obligation. ^^^PHILIPPINE J UARA NTYCh!! INSULAR LIFE BLD6. TEL. 2-2 4- 1 P.O.BOX 128 MANILA, PHILIPPINES,Os r: I %1. 1hil.-. ARATVIOU-50 -1C-! 4"N 1 " ~~~~~~~~ / U I -RA.J CERAMIC LNDJSTRJBW Ia'isaal^f i- |ilW I i OF THE PILWPPJNES Proposed cerami~u Bungalow for Mr. Robeto Gotsales The American Chameber of Commerce Journal October, 1941 Filipinas Bldg. Tel 2-71-00 Manila 13

The New High Production (Semi-Automatic) Jackbil Grinder Cuts Regrinding Costs to /3 of What They Were. The gauging operation is automatic, while the operator is doing the forming operation. This new J-5 grinder is now being used by a number of mines, quarries and contractors. Exacting tests and hard usage for more| than a year show the following impressive results. * 60 average hardened bits can be ground per hour. * 100 average annealed bits can be ground per hour. * Average grinding costs reduced two-thirds. I-R JACKBITS have gained a world-wide reputation as the most, economical detachable bits for drilling rock. The combination of this new, high-production bit grinder and JACKBITS with their low-cost drilling qualities gives you a real costi cutting team. It will pay you to use both. For further information write for Form 2534. It describes the sturdy construction and the automatic features of the J-5 Grinder. IngersollRand 11 BROADWAY, NEW YORK, N. Y. 14 The American Chamber of Commerce Journtal October, 1941

Gypsum In The Philippines By W. F. Boericke Gypsum and anhydrite are both calcium sulphate minerals that differ only in their water content. Deposits of great size of both minerals are widespread in most countries of the world. The United States is particularly fortunate in this respect, and in such states as Nevada and Utah deposits of massive gypsum as much as 200 feet thick and extending for miles have been reported. Gypsum rock therefore commands an extremely low price at the mine. Under normal condition it sells for about $1.60 per ton, according to the Minerals Yearbook of the U. S. Bureau of Mines. This value of run-of-mine gypsum is a sort of "transfer" value that may represent only the actual cost of mining including depreciation and depletion, as there is no open market for this material. Large quantities of crude gypsum are imported into the United States from tidewater quarries in nearby Nova Scotia and New Brunswick, and this material brings only 98 cents per ton, c. i. f. shipping ports. Unfortunately, to date no large gypsum or anhydrite have been discovered in the Philippines that are comparable in any way with the huge deposits elsewhere in the world. Consequently, practically all gypsum supplies must be imported. It results that costs of highgrade gypsum laid down in Philippine ports are out of all proportion to the price obtaining in other parts of the world, as the delivered price must include the freight, handling, insurance and other overhead charges that just now may amount to more than P30 per ton, even if shipping space were obtainable. Gypsum rock finds its principal use in the Philippines as a retarder in the manufacture of portland cement, Bed of impure gypsum rock in Camarines Sur. for which purpose it is essential. Cement producers generally specify that the SO, content of the gypsum shall be between 36% and 427%, corresponding to rock gypsum of 75 % to 90 % purity. A large cement manufacturer in the Philippines has corrected a cur drite contains a higher percentage of SOa than gypsum. This manufacturer states his willingness to purchase gypsum rock guaranteed to contain a minimum of 85%o gypsum plus anhydrite. Even material containing 75%o of both minerals would be acceptable at a lower price as this could be utilized by mixing it with higher grade imported gypsum. There are no restrictions on the size of material that is acceptable. It may be furnished in lump or in fine sizes. Pyrite, however, if present in the gypsum, makes the material unsuitable for cement manufacture by producing sulphuric acid through atmospheric oxidation that has a deleterious effect on the cement. Gypsum is not particularly hard to recognize in the field. When pure it is colorless to white, but impurities may change it to gray, brown, or pink. Gypsum is quite soft with a hardness of 2 in the Mohs scale and can be easily scratched with the finger. This distinguishes it easily from quartz, that is much harder. Calcite is also harder than gypsum and can be further distinguished by the fact that acids cause calcite to effervesce, while gypsum is inert. Anhydrite is commonly white in appearance and of about the same hardness as calcite. The acid test quickly differentiates the 2 minerals. Pure gypsum is sometimes found in the Philippines as white alabaster, much used for sculpturing. The crystalline form known as selenite occurs in some mines in Baguio, often translucent, with well defined platy cleavage that is highly characteristic. Unfortunately, neither variety has been found in commercial quantities. Geologically there appears to be no good reason why large deposits of gypsum should not be found in the Philippines. The presence of abundant limestone that might be acted on by water containing sulphuric acid or another sulphate in solution, should give rise to gypsum deposits. Both these conditions occur in the Philippines. Gypsum has been reported in many Chutes for moving gypsum rock from quarry to trucks. rent misconception by stating that anhydrite, the unhydrated form of gypsum, is just as suitable for cement manufacture as the hydrated variety. As a matter of fact anhy-; Pier for loading gypsum rock mined in Ca marines Sur for shipment to Manila.

places in the Islands, and as a gangue material it is frequently encountered in the gold mines, particularly in Baguio. Small amounts have been mined from time to time in Batangas, Cebu and Camarines Norte. None of these deposits, however, give much promise of any large tonnage of good-grade gypsum, to date. At present, gypsum might be termed a strategic material for the Philippines, as any curtailment of imported ore would probably have a serious effect on the manufacture of cement. It is not only good business, but a service to the country, to be on the lookout for sizable deposits of gypsum. It should be borne in mind that quantity is just as important as quality. Gypsum mining is in fact a tonnage proposition, and what is needed is a deposit that can supply the ore when mined on a worthwhile scale, say 25 tons per day or upward. A few tons that may be exposed in an isolated lens will not pay for exploitation and operation. The gypsum should be reasonably pure, as if mixed with impurities the sorting cost might prove to be prohibitive. Reasonably close access to a shipping point, preferably tidewater, is also highly desirable. Gold Dredging With Dragline In Surigao The Mindanao Mining Company is operating successfully a dragline and floating scow for gold recovery on its property near Surigao, Mindanao, about 7 kilometers from Km. 14 on the Surigao-Butuan highway, on the Tugunan river. This type of equipment known familiarly among placer mining men as. a doodlebug, reason unknown, has found wide favor in many gold dredging regions of the United States, especially in California, and accounts for a large proportion of California's total gold production. So far as we know, Mindanao Mining's is the only installation of this type in the Philippines. The placer area being worked by Mindanao Mining has been known for many years to contain gold in the river gravels. Native miners there have engaged in hand panning for generations, and managed to eke out a living at it, with occasional strikes when good-sized nuggets have been found. On such small-scale work they have been quite content to make wages. Not far from where Mindanao Mining is operating its dragline, the North Mindanao Mining Company has been hydraulicking the gravel on the ridge with fair success, when not handicapped by want of water supply. The area has been tested extensively by engineers, and found to contain sufficient values to make a profitable mining venture if worked on a large scale. Mindanao Mining's dragline and diesel, that provides the power, weigh about 110 tons. Operating, a 21/2 cubic-yard bucket serves to excavate the gravel from the banks of the pond on which the scow floats. The bucket is lifted and swung over to the scow, where the gravel is discharged in a grizzly. The boulders are rolled off to one side, while the fine gravel containing the gold flows through a series of sluice boxes equipped with riffles for saving the gold particles. Mercury is added between the rif fles to promote amalgamation of the finer colors that might otherwise escape with the tailings. The tailings are stacked at the rear of the scow by a conveyor belt. To be profitable, dredging work must go forward on a large scale with no interruption. The capacity of a dragline should be upwards of 1,000 yards a day and 2,000 yards would not be excessive. Chief difficulties are handling the boulders that occur in the gravel, that may be too large to be removed by the bucket. Much skill is required by the shovel operator, to make a clean cut to bedrock, where most of the gold is usually concentrated. Tremendous strains are placed on the shoveling equipment, occasional breakdowns can't be avoided. Repair facilities must be provided on the ground, along with an adequate stock of repair parts. The test of a good dredge operator is his ability to keep the gravel moving. Actual recovery of the gold is generally not a difficult matter-if the gravel contains a sufficient amount of it. While ordinary riffles are usually sufficient, some more elaborate methods are now being introduced with success in various fields, such as jigs and concentrating tables. Dragline layout of the Mindanao Mining Co., Surigao. Washing plant floats on pontoons, tailings are stacked to rear. Capital cost of this type of equipment is much less than for the connectedbucket dredge.

Present Aspects Of The Manganese Situation (Condensed from Minerals Yearbook, United States Bureau of Mines) The war in Europe, a 27% increase in American steel production, and stock-piling of strategic minerals by the United States government have exercised an outstanding influence on the Philippine manganese industry. The U. S. S. R., British India, Union of South Africa, the Gold Coast and Brazil continue to produce more than 857% of the world supply. Cuba and the Philippines, whose ores have the advantage of entering the United States duty free, have stepped up their yield to meet the American demand. In 1940 the proportion of manganese exports from the Philippines to the United States rose to 89%, compared with 32% in 1939, while exports to Japan dropped to 10%, from 65%o in 1939. Manganese mining in the United States has improved somewhat, but in 1940 was able to supply only 3 % of the domestic demand and less than 1%I of the world output. Brazilian manganese deposits will be far more accessible when railroad service from the mines to the coast is rehabilitated. At the close of 1940 it was estimated that the United States possessed manganese in stock piles or afloat equal to 2 years' supply at maximum requirements. For 3 principal reasons, manganese is one of the most vital strategic minerals for the United States: first, because about 13 pounds are needed for every ton of steel manufactured, second because 97 % of the quantity needed must be imported, and third because substitution would be extremely difficult. Only highgrade ore (48 %o or more Mn) is considered strategic. The United States possesses large supplies of lowgrade ore, but cost of mining and beneficiating such ore has been prohibitive. Under the Strategic Materials Act of 1940, that authorized expenditure of $100,000,000 over a period of 4 years for the purchase of strategic materials, contracts were signed with domestic and foreign producers for delivery of ferro-grade ore over a period of years. It is noted that the Philippines have contracted to deliver 53,000 tons to the Metals Reserve Company, 27,155 tons to the Treasury Department, of which a total of 30,655 tons have been delivered. Imports of manganese ore into the United States increased 104% in 1940 over 1939 and comprised 1,254,674 long tons of metallurgical ore valued at $17,635,000. All contributing countries made large shipments, but especially large increases were noted from South Africa, Brazil, and the Philippines. Prices for domestic metallurgical manganese ore averaged in 1940 about 50 cents gold per long ton unit for ore containing 35 % or more Mn ($25 per ton for '50% ore). A duty of ~, cent per pound of contained manganese is imposed on all imported manganese ore except that I ENGINEERING EQUIPMENT AND SUPPLY GO. (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Shop Tel.?-67-75 Mandaluyong, Rizal Office Tel. 2-41-41 DEALERS IN: DUPLEX AND TRIPLEX PUMPS SHOVELS, BUCKETS, CRANES MINE WOOD TANKS STEEL TANKS AGITATORS, THICKENERS ROCK DRILLS PRECIPITATION EQUIPMENT MERRILLITE ZINC DUST PUNCHES, SHEARS WOODWORKING MACHINES ROTARY FILTERS MARINE DIESELS EXPLOSIVES POWER BOATS OUTBOARD MOTORS WELDING RODS MELTING & TILTING FURNACES HACKSAW MACHINES TROLLEYS DIESEL LOCOMOTIVES DRILLING MACHINES CONVEYORS RECORDING INSTRUMENTS ELECTRIC TOOLS ELECTRIC MOTORS BALL MILLS CONTOUR STEEL CUTTING MACHINES AIR CONDITIONING EQUIPT. MECHANICAL PACKING LEATHER BELTING VEE-BELTS BRONZE BUSHINGS CARBIDE LAMPS PNEUMATIC TOOLS TUBULAR BOILERS ALLUMINIUM CASTINGS SURVEYING EQUIPMENT LOGGING EQUIPMENT MINE HOISTS STATIONARY DIESELS BLASTING SUPPLIES PROPELLERS ROAD ROLLERS WELDING EQUIPMENT WATER, OIL & GAS METERS VALVES OF ALL KINDS SHAPERS, LATHES BELT HOOKS MAGNETIC SEPARATORS SAWS, SAWTEETH THERMOMETERS GRINDERS GENERATORS OIL BURNER EQUIPMENT CABLE CLIPS REFRIGERATION EQUIPT. ELECTRIC WELDERS TRUCK AND MINE SCALES CENTRIFUGAL PUMPS CONCENTRATING TABLES FLOTATION CELLS MINERAL JIGS VACUUM PUMPS FIRE FIGHTING EQUIPMENT BLOWERS, DRILL PRESS COM PRESSORS CIRCULAR SAWMILLS PILE HAMMERS GASOLINE ENGINES NAUTICAL INSTRUMENTS STUFFING BOXES TURBINE PUMPS ELECTRIC HOISTS SHEET METAL TOOLS BABBITT METALS DRILL STEEL CHAINS, WINCHES CRUSHERS, SCREENS MINING PICKS MINING SHOVELS CONCRETE VIBRATORS ELECTRICAL APPARATUS DREDGES OF ALL KINDS LOGGING BLOCKS CONCRETE MACHINERY HOISTS FOR DUMP BODIES The American Chamber of Commerce Journal October, 1941 17

from Cuba and the Philippines, that enters duty free. Philippine manganese ore imported into the United States increased prodigiously in 1940, both in tonnage and value, as appears in the following table: of manganese. Highly indicative of how closely information on production of this strategic mineral is guarded, is the fact that the Bureau of Mines of the Philippines is able to furnish data for only 5 countries outside the United States. The Stock Markets By Ovejero & Hall MANILA-September 15, 1941 P. I. MANGANESE TO U. S. Year Tons Value 1938 4,002 $ 44,075 1939 6,966 89,784 1940 43,515 627,243 Values in dollars. Tons, long. The United States Bureau of Mines has estimated that from 1493 to 1935 throughout the world 1,191,717,210 ounces of gold have been mined. The Americas provided 38% of that gold. The United States alone provided 1/5 of the world's supply. -From Dictionary of American History, Scribners, 1940. More than 40 countries throughout the world are listed as producers ROEBLING WIRE ROPE "WORLD'S STANDARD SINCE 1840" Ir CARRIED IN STOCK 0 ROEBLING BRIGHT HARD BASIC STEEL WIRE FOR FILTERS No. 10, 12 AND 14 CARRIED IN STOCK Sole Agents KOPPEL (PHILIPPINES) INCORPORATED I Writing in this column under date of July 15th, we quoted the old saying that "Bear Markets do not last forever" and added "for the past month or two it (the market) has been showing all of the signs that the major downtrend which commenced at the end of 1936 has finally flattened out and turned upwards". On that date the market averages stood at 48.38. One month later, on August 14th, the averages had declined to 43.83, and relative to this sell off we expressed ourselves as follows:-"Following a rise in values to the accompaniment of a sharp increase in the volume of trading, prices have declined on a small turnover. This has all the earmarks of a correction in a bull market, and indicates a resumption of the main advance on any improvement in the tenor of the news." It is hoped the reader will not misunderstand our intentions in thus delving into the past. The conclusions cited above represented studies of price movements in relation to market activity when they were written. The sole reason for so reverting at this time is to emphasize the value of such studies to investors and speculators alike during these difficult periods when news blow hot and cold at short intervals. During the past month, prices have broken through all previous resist, ance levels on the upside accompanied by a tremendous increase in market activity. At today's closing level the market average was 61.19 up 17.36 points over the period. Total number of shares traded from August 15 to September 16 inclusive amounted to 256,677,472 valued at P10,410,972.- compared witth 65,262,867 shares valued P3,256,181 for the previous month. The price movement thus clearly establishes a Bull Market, but it should be noted that the very rapidity of the advance can bring on a sharp correction at any time. While several factors have operated to bring about this remarkable improvement in share prices, the most important has undoubtedly been the replacement of previous fear psychology by general optimism. This latter feeling is 'based on the belief that Japan must try to im The American Chamber of Com7erce Joarnal October, 1941 Iloilo MANILA Cebu 18

prove its relations with the U. S. at the expense of its Axis commitments. This has resulted in hoarded cash pouring into underpriced equities. The visit of a special R. F. C. representative from Washington greatly increased public interest in base metal issues under the leadership of Acoje whose earnings potentialities had been overlooked up till then. As in recent months, however, the main attraction continues to be Mindanao Mother Lode whose August production of P1,005,484 from 8,505 tons again establishes a new record, substantially above the previous month. August also witnessed the first full mlonth's production of the enlarged Big Wedge plant, and output (;f P476,354 from 12,836 tons came up to best expectations. The following are today's closing quotations as compared with a month ago for the more active issues, together with highs and lows registered during the period: period under review, selective demand for special groups has resulted in good gains in Air Transports, Amusements, Aviations, Packing and Rubber Manufacturers. Rails have shown easing tendencies on the wage negotiations, but chemicals have remained firm on record business prospects. Motors have remained very narrow. In contrast to the lack of vitality displayed by the American market has been the continued rise in British share prices to the highest levels since just prior to the May 1940 Blitzkrieg decline. This probably reflects increased optimism in the ulti mate war outlook and the persistent inflation factor, which we have already drawn aattention to in this column. From the technical standpoint there is little to be said. The Rail averages have gently sagged through their mid August low, but the Industrials remain comfortably above their corresponding low point of 124.90. In the event of their confirming the rails the next known resistance levels are 115.30 and 26.54. As volume indications during the past few months have favored the bullish side, we would say there is nothing [Continued on page 36] Aug. 14 i i I ACOJE. 23: ATOK.. 35 BAGUIO GOLD. 15l/ BENGUET CONS. 3.60 ITOGON. 17 I. X. L.. 18 LEPANTO 18 MASBATE 83/ MINDANAO MO. LODE. 321/ SAN MAURICIO. 15 SURIGAO CONS.. 18 SUYOC.10 U. PARACALE. 16 High 491/2 59 22/2 4.20 31 261/2 261/2 101/2 76 Low Sept. 15 ~ 24~ 47~ 36 57 151/2 21 3.60 4.20 171/2 31 18 26 17 25 81/2 101/ 33 75 24 141/2 2212 241/ 1812 24~1/ 1512 101/4 15 261/. 16 261/2 I * Controlled New electrically operated feeders provide positive control of the rate of feed at all times. The amplitude of vibration is readily changed over a wide range... by simple manual adjustment of a hand wheel. Utah feeders handle both large material and fine. Dual magnets give positive action in both directions. Positive Eectro-Magnetic Heavy Duty Feeder Positive Electro-Magnetic Heavy Duty Feeder NEW YORK-September 15, 1941 Wall Street has experienced a dreary month of light dealings. Possibly the best illustration of speculative apathy is the fact that in almost a month General Motors has not shown fluctuations in excess of one point. Market fluctuations as registered by the Dow Jones daily closing Industrial and Rail Averages have been as follows: Aug. 14 High Low Sept. 15 Change Industrials.. 125.96 128.31 124.90 127.20 +1.24 Rails....... 30.09 30.40 29.04 29.25 -.84 While the market in general has proved a trendless affair during the THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Branch Offices: P. 0. Box 282 Bacolod, Occ. Neg. Tel. 2-32-13 Manila, P. I. Cebu, Cebu The American Chamber of Ceommere JouErn October, 194j, 19

The Mining Industry-Tabulated Statistics Courtesy —Chamber of Mines of the Philippines MINES JULY 1941 AUGUST 1941 TOTAL PRODUCTIOIN AI'I'AL DIVIDEND Tonnage Value Average Tonnage Value Average To Date 8 months 1940 Authorized Paid Up 1941 1940 Antamok 17,697 P 280,832.87 P15.87 17,384 P 276,536.10 P15.91 P1,871,926.62 P1,732,508.04 P 3,000,000 P 2,750,000 Antipolo 692 34,052.53 49,21 573 30,229.34 52.76 235,721.20 - - 1,000,000 417,192 - Baguio Gold 13,566 203,597.20 15.01 10,865 205,260.02 18.89 1,582,545.40 1,450,098.82 2,000,000 1,299,950.02 Balatoc 68,170 1,147,683.68 1C.84 68,077 1,137,971.52 16.72 9,185,321.64 8,967,190.84 6,00,000 6,000,600.40.Batong Buhay 4,441 137,004.56 30.85 3,899 135,939.36 34.87 1,149,803.08 - 2,000,000 1,661,703 - Benguet Cons. 42,035 925,538.92 22.02 35,296 741,145.70 21.00 7,072,539.02 7,332,086.10 12,000,000 12,000,000.30 Benguet Gold 1,044 14,841.00 13.87 679 9,151.00 13.49- 430,622.78 200,000 200,000 -.005 Big edge 9,729 350,935.16 36.07 12,836 476,354.32 37.11 2,009,115.54 1,337,496.84 2,000,000 777,692.02 ~ Cal Horr 6,475 116,691.52 18.02 7,067 103,366.98 14.63 923,077.15 919,868.99 Owned by Benguet Cons. - Capsay 5,900 64.184.44 10.88 4,504 57,753.68 12.82 499,605.92 794,781.16 300,000 175,000 - Crown Mines 802 8,940.00 11.15 581 6,590.00 11.34 54,687.51 71,569.31 1,000,000 636,000 - Davao Gold 5,029 132,543.78 26.38 5,578 141,408.00 25.35 80,000 80,000 - Demonstration 5,704 84,852.00 14.88 5,465 70,785.00 12.95 586,144.98 333,641.96 1,000,000 1,000,000 - _ East Mindanao -, - 5,991 61,630.76 10.29 604,214.83 512,623.13 1,000,000 1,000,000 - Gold Creek 1,057 23,193.77 21.94 1,834 42,018.43 22.91 182,563.04 121,212.16 1,000,000 700,000 - Gumaus Goldfields 780 22,789.40 29.22 - 30,801.91 -345,058.49 535,160.98 1,000,000 819,794 - - Itogon 28,204 478,597.92 17.00 27,976 500,635.40 17.89 3,849,795.15 3,506,850.72 2,500,000 2,500,000.02 IXL 12,802 242,406.80 18.94 14,311 265,197.84 18.53 1,977,120.18 2,050,974.58 1,500,000 1,500,000.02 - Layog --- - 0 Aldecoa - 32,718.28 - 799 3,207.92 16.12 Shevlin (Mapaso) 213 2,420.42 11.36- ____ Masbate Cons. 125,335 532,234.24 4.25 124,616 508,877.66 4.08 4,277,299.54 4,063,731.64 5,000,000,000,000.01 -Masbate Gold.,- 29- - 4, -63,731.6 500,000 164,0 80 - - Mayon Mining- - - 100,000 100,000 - ~~~Mind.Ipdind.~~~r^~~~~ 1 -i _ l00,000 100,000 -^ ^ - Mind. Mother Lode 7,547 765,.964.10 101.49 8,505 1,005,484.00 118.22 4,008,625.12 1,342,301.96 2,000,000 2,000,000.01 Mineral Resources 3,345 33,556.26 10.03 3,431 35,140.75 10.24 343,710.09 245,018.90 2,000,000 1,351,920 - North Camarines 2,618 52,811.26 20.17 1,961 41,294.69 21.06 570,571.34 1,180.973.34 1,000000 995,802 - Northern Mining 2,494 59,654.05 23.92 2,226 48,849.93 21.95 439,162.31 435,127.65 1.000,000 840,041 - San Mauricio 15,665 401,134.47 25.61 13,366 397,775.40 29.76 3,421,695.00 4,082,511.07 2,000,000 2,000,000.015 Santa Rosa 5,817 132,298.21 22.74 6,168 136,407.89 22.12 939,288.89 579,453.78 1,500,000 1,600,000 - Surigao Cons. 11,713 241,500.00 20.62 11,380 237,970.00 20.91 1,872,179.00 0 Suyo — ~5 --- —~ —~-~ --- —— ~___ 1,200,000 1,023,400.02 Suyoc Cons. 7,505 185,561.13 24.73 7,556 185376.01 24.53 1,477,069.91 1,294,133.98 1,250,00 1,250,000.01 Treasure Island 8,090 209,183.28 25.86 7,683 221,330.44 28.81 1,690,935.24 - 2,500 shares 66,940 United Paracale 11,217 290,768.18 25.92 11,000 290,922.89 26.45 2,327423.73 2,126,776.87 1300,000 1,300,000.02 - Sta. Barbara. __ - __ 1,600 48,000.00 30.00 - PLACER Coco Grove 278,415 15,020.70 0.41 345,520 76,078.10 0.22 980,719.03 880,274.60 1,500,000 1,500,000.01 - Mindanao Mining - - 78,440 18,782.98 0.24 North Mindanao 20,618 13,588.18 0.66 Tambis 33,792 14,708.00 0.44 28,038 13,505.00 0.48 121,802.60 ---- 400000 390,43. - BASE METAL,000 90,4 Lepanto 12,530 286,522.80 22.87 13,964 376,381.65 26.95 2,255,443.58 1,673,477.93 1,750,000 1,050,000.01 Hixbar 1,489 60,006.31 40.29 -— 423,134.20 600,000 274,360.03 Cons. Mines 11,043 132,476.00 11.99 28,450 341,400.00 -- 1,252,676.00 - — 0 5,000,000 4,121,246 Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY

,N. Fittinghoff of the International Engineering Company has returned to Manila by clipper from the United States. * * * George Dankwerth, treasurer of Marsman & Co., after spending several months in America has recently returned to Manila. * * * T. IMalmesbury, superintendent of the Tuban mine, a pronmising new development in the Baguio district, came to Manila early in September to confer with his principals. J. J. Dunbar, also interested in the property, returned to Baguio with Mr. Malmesbury to visit the mine. * * * J. W. Brady has left the employ of the Atok Mining Company and has been in Manila during the past few weeks.:* * * W. F. Boericke and N. N. Lim were in Baguio early in September accompanied by R. Hernandez of the Gold Star Mining Company, on examination work for the Bureau of Mines. They later spent a week in examination of the new chromite deposits in Cagayan, Oriental Misamis, Mindanao. * * * George H. Miller attended the Safety Meet in Paracale, representing the Bureau of Mines. *e * * D. A. Willson and J. Calderon of the Hixbar Mining Company have left the Philippines for the United States.,* * * S. C. Faneuf, formerly with the Treasure Island Mining Company, is now consulting engineer for Benguet Exploration Co., at Baguio. * * * J. Boswell has accepted a position as geologist for the Demonstration Gold Mining Company in Baguio. i* * * T. J. Fagan has resigned his position with the Acoje Mining Company and expects to engage in mining in Borneo. * * * David Minnich, interested in one of the small gold mines in the Abra country, was recently in Manila. * * * Dr. H. Foster Bain has returned to Manila by clipper after having been on war work for several months in Washington with the Secretary of the Interior. i* * * A. H. Booker has resigned his position as mine superintendent at Demonstration, to accept work in a similar capacity at Antamok Goldfields. i* * * R. L. Lile, general superintendent at Demonstration for many years, has resigned that position to join the Marsman interests in Manila. i* * * S. W. Ladic, formerly with the Balatoc Mining Company, is now at Demonstration as mine superintendent. I* * * Enrique Biel, who has been head of the mining engineering department at Sto. Tomas University for several years, has resigned his position to join the operating staff of Balatoc. * * * Byron Ellsley, junior geologist at Balatoc, has left that position to join the Itogon organization. * * * F. S. Small, formerly mill superintendent at IXL mine, Masbate, is now assayer at Balatoc. * * * Gilbert Whitehead, geologist for the Atlantic, Gulf & Pacific Company, has been engaged in examination work in the Zambales chromite fields. I* * * Cam Middleton, who has been on the operating staff of the Capsay mine, Masbate, has resigned his position and is now with Benguet Consolidated in Baguio. i * * Douglas McKay, general superintendent of the fast-moving Mindanao Mother Lode of Surigao, has been in Manila accom;panied by Mrs. McKay. IC * * H. M. Parfet, general superintendent of Treasure Island Mining Co., at 1Lahuy, has been in Manila for a conference with company officials. He was accompanied by Mrs. Parfet. * * * George Scholey, well-known general superintendent of Nielson & Company before he left Manila to represent the company's interests in America, returned to Manila by clipper early in September for a few weeks' stay. * * * It looked like boom days in the Manila Hotel lobby last month. Such well-known mining men as Ward Graham, Jerry Worthington, George Scholey, L. R. Nielson, Dug McKay, H. M. Parfet, Clarence Weekley, Nick Fittinghoff and others were seen exchanging news from homeside and recent developments here in the Philippines. L JUST LIKE FINDING MONEY Be Oil Wise.... Use PENNZOIL! Here's a new easy way to save money: Get Pennzoil with its extra margin of safety that cuts driving costs right to the bone! With non-lubricating elements completely removed, Pennzoil permits valves and piston rings to work freely. You get better compression, more power, and big savings on oil, gas and repairs. Distributed by MARSMAN TRADING CORPORATION Port Area, Manila Telephone 2-48-11 ~~)f - I / The Anerican Chamber of Commerce Journal October, 1941 21

Translations From Dr. Palma Continued from page 13 roads and modern bridges throughout the provinces. Governor General William Cameron Forbes initiated this policy, Filipinos not only adopted it but greatly accelerated it, convinced that material prosperity depended on rapid means of communication from one province to another, aside from the influence of such improvements on the ideals and sentiments of the inhabitants. Railway extensions received similar attention from the government. In Spanish times an English road had been built from Manila to Dagupan, Pangasinan, through the central Luzon valley, a line of some 200 kilometers. This property was bought by the Philippine government in 1916. The line was doing little business, while the government guaranteed its bonds; and at the same time, it was felt that the road should be bought up as a national defense measure. Since this purchase the road has been extended another 100 kilometers to San Fernando, La Union. (The company's southern lines now connect to Legaspi, Albay, a port, and branches ramify Batangas and other points nearby Manila; so that Dr. Palma's description is by no means adequate to the usefulness to which the railroad has been put since its purchase in 1916, though the Batangas branch then The next time you light a match El existed, and portions of the southern line. Negotiations to buy the bonds still held in London have just broken down.-Ed.) In addition to the Manila Railroad, the Philippine Railway Company was established to construct lines in Panay, Negros, and Cebu, under an arrangement whereby the Philippine government guaranteed 4 % interest on the invested capital. This company maintains a service on Panay and Cebu without as yet being able to subsist without aid of the government. (This charter came along at the onset of the automobile age in the Philippines, just ahead of Governor Forbes's good-roads policy, and so seems to have been a little out of date.-Ed.) Other attractive industries aside from farming had their origin during the American period. Thanks to the founding of the Bureau of Forestry, not only was the production of lumber for local consumption greatly advanced but lumber came to be an important item of export vital in our overseas commerce. Interisland maritime communication has not progressed equally with land transportation, because of want of capital essential for the operation of steamships in our intercoastal waters. The maritime companies that existed during the later years of Spanish sovereignty over the Islands have continued operating, but their old ships have not been substituted with new ones. On the other hand, coastal shipping laws of the Islands forbid acquisition of new tonnage except by Filipino and American companies, a disability that discourages foreign companies from investing capital in the business. At the beginning, the government bought a fleet of coastguard vessels to ply to such ports as were not visited by ships of private companies and so facilitate the transportation to market of the products of isolated regions of the provinces; but with the passing of time these vessels were retired from service. (Revision of coastal traffic laws since Dr. Palma wrote, and material port improvements, have combined with other factors to put many new ships into the coastal service. Completion of the Manila north port will give berthing outside the river to intercoastal vessels, and bring larger ones into the business.-Ed.) The government has contributed a great deal to the safety of interisland and ocean navigation through construction of additional lighthouses and the charting of the waters and coasts by the Coast & Geodetic Survey bureau jointly sustained by the United States and the Philippines. (Be ginning under the United States, the Philippines were offered 2 partnerships in necessary research work, the coast and geodetic work one of them. This they accepted, and it has been most successful. The other was an offer to share the expense of agricultural research, that was, unfortunately, not accepted by the Philippines.-Ed.)... stop and think of the havoc a tiny flame could cause if it got beyond control! Some things you with fire. Keep very low. It could destroy your house and could replace, but others-never. your valuables in a safe deposit everything in it. Take no chances box. Rates are PEOPLES BANK AND TRUST COMPANY 605 DASMARIARAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac 22 The American Chamber of Commerce Journal October, 1941

Local and United States: P4.00 per year Foreign Subscription: $3.00 U. S. Currency, per Subscription Single Copies: 35 centavos WALTER ROBB Editor and Manager Entered as Second Class Matter May 25, 1921, at the Post Office at Manila, P. I. -CLIIIIIIIIIIIII Just Little Things The United States Consulate General and Trade Commissioner's offices have been removed from the Trade & Commerce Building on calle Juan Luna to the Second Floor of the Tourist Bureau overlooking Legaspi Landing in the Port Area, the whilom site of Legaspi Gardens, a spot that is now on 13th street in the Port Area. There is convenient parking space round Tourist Bureau. Telephone numbers do not change. Consul Thomas A. Hickok's number remains 2-33-20. The commercial office's number, that of Trade Commissioner Paul P. Steintorf, remains 2-35-95. Consul Hickok has gone on leave to the United States, and when consuls go on leave they never know where they will next be sent, so Tom Hickok, very popular here, doesn't know whether he will be assigned back to Manila after leave. There are 2 new vice consuls, Eric Hoffmann and Charles W. Whitaker. Trade Commissioner Steintorf will be in charge at the consulate during the interval between consuls. Our readers know how much their magazine is indebted to Paul Steintorf, as it has always been to the trade commissioners. * * * Abraham Manuel Fox is a former U. S. Tariff Commissioner and noted economist now teemed up on behalf of the U. S. Treasury with the China Currency Stabilization Board. If yotu recall Messrs. Dorfman and Waring, tariff experts who put Philippine economics through' the ringer about 8 years ago, and then were on the joint commission that reported to congress and the Philippines on the economic features of the Tydings-McDuffie act of 1934, just add that they are colleagues of Mr. Fox's and it will help you gauge the latter's calibre. He is greatly relied on at Washington, even as to matters of policy. A month and more ago he came to Manila from Chungking to do some telephoning, and took time out to help treasury men get started on frozen-funds administration here. He thinks and works like chain lightning, and talks quite as rapidly. After talking with him, you realize that American aid to China is no idle gesture. That board he's on for the duration is a mighty force in China's defense. We found he had already acquired high admiration for the ability of his Chinese associates on the board: Chairman K. P. Chen, of the Shanghai Commercial Bank; Tsuyee Pei, Bank of China; and Hsi Temou, Cential Bank of China. The British board member is E. L. Hall-Patch, formerly Far Eastern supervisor for the United Kingdom treasury. Some board. And some work for it to do. * * * William E. "Bill" Fisher of Time (and Life and Fortune) for his huge assignment in covering the Far East makes permanent headquarters in Manila at the Manila Hotel, but is off just now-has, just gone, or will soon go-to India for a look-see perhaps lasting months. Manila is a convenience to the Luce publications because there is long-distance telephone service to New York, because of the cable and wireless services, because of the clipper service, and because there is no censorship. The Philippines in their own right are also frequently newsworthy. Bill Fisher reports a lot, carefully and alertly. Time uses a good deal of all he sends. The ar WARNER, BARNES & COMPANY, LTD. LONDON-MANILA-ILOILO-CEBU-BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGE R.S OF COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY NSURANCE DEPARTMENT I MINING DEPARTMENT SHIPPING DEPARTMENT Il Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT General Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines, Inc. I X L Mining Company Masbate Consolidated Mining Company North Camarines Gold Mining Company Paracale Gold Mining Company Paraeale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUILDING, Plaza Cervantes. Agents for: Nippon Tusen Kaisya Cunard White Star, Ltd. Bibby Line Special Representatives of BRITISH OVERSEAS AIRWAYS CORPORATION AGRICULTURAL DEPARTMENT All Classes of Fertilizers IMPORT DEPARTMENT Sugar Machinery, Diesel Engines and Mining Machinery Agents for: Hongkong & Whampoa Dock Co., Ltd., Hongkong. Sperry Flour Sugar Bags The American Chamber of Commerce Journal October, 1941 23

rangement was of course helped by Mr. Luce's 2 visits here this year, with Mrs. Luce, Clare Boothe. Miss Boothe has been making her third visit of the year here. Her book about the East is well along toward completion. It will certainly be lively, since Miss Boothe is never dull, and promises to have a good deal in it about the Philippines. One of Miss Boothe's last-season Broadway hits, Kiss the Boys Goodbye, has just been filmed at Hollywood. While there, she sold Hollywood 2 more stories; and on her way out to Manila by clipper, dashed off a new play. * * * Samuel Maurice "Sam" Berger died in Manila August 5, Mrs. Berger and their daughter Miss Ethel Berger having been able to come by clipper from America and be with him during the later 'weeks of his illness. A thrombosis was the immediate cause of death; old friends will recall operations Mr. Berger had undergone years back, whence this condition may have developed. Sam Berger was among the earliest American businessmen to arrive in the Philippines after the occupation of Manila in August 1898. He came out that same year, with experience in the tobacco business in Cuba, and was finally attracted to that business here. He was always an importer of something in special demand. When our newspaper career began 23 years ago, he was still importing Australian horses. In I. CHRISTMAS IS COMINGREMEMBE R TH E FOLKS AT HOME! To the Alhambra Cigar & Cigarette Mfg. Co. P. 0. Box 209, Manila Gentlemen: Please send me your illustrated folder and price list of ALHAMBRA CIGARS to be mailed, ALL EXPENSES PREPAID, to the United States. Name............................... Address............................. ACCJ A box of ALHAMBRA CIGARS will be a much appreciated Christmas present from the Philippines. Available in many attractive packings. those years he took active interest in rac-. ing and maintained a stable. Lately a specialty has been theater supplies and equipment. As new movie theaters are built, S. M. Berger & Company often equip them, even to the curtains on their stages. The Times on Quezon Avenue swas a recent job of this sort. The Berger companies, on a large and valuable lot onl calle Azcarraga, are S. M. Berger & Co., Acme Films, Inc., and La Minerva Cigar Company. Acme Films distributes Republic and RKO pictures in the Philippines. The Berger company does general importing and exporting, theater supplies a principal import, also Florida wrapper tobacco, and Philippine leaf tobacco a principal export. La Minerva cigars are sold chiefly in the United States and China. Formerly they had wide vogue in Australia, where more recently prohibitive tariffs have cut them off. With businesslike versatility, Mr. Berger managed this dilemma by turning to the American market. It was characteristic of Mr. Berger always to be able to shift to something else, to a new market, or to a new line of merchandise: flour followed horses, textiles followed flour. With trade to be had, Sam Berger could claim his share of it. He built a beautiful home for his family on calle V. Mapa in Santa Mesa and gave his children, Maurice and Miss Ethel, every advantage of education and travel. Maurice is now in aviation engineering at Wichita, Kansas. Miss Ethel Berger is associated with broadcasting at the KZRH studio here in Manila. For many years S. M. Berger & Co.'s New York office has been managed by Mr. Berger's younger brother, W. H. "Bill" Berger, who is now in.Lanila during the settling up of the estate, if not to stay on permanently. He had business experience here during an earlier visit, which has since been matured at New York. Karl Nathan, more than 8 years with the company, is in charge of of S. M. Berger & Co., and a nephew, S. R. Springer, 3 years with Mr. Berger before the latter's death, is in charge cf Acme Films. Sam Berger was a member of a number Manila's clubs, where bridge and dominoes were his principal relaxations. We knew him best as a kindly neighbor, and will so remember him. * * * For a long time we had wanted to meet Dr. Daniel Goodwin Beebe, of Basilan. When he came back to Manila by clipper in September from a summer's visit to the United States we seized a chance one morning to interview him at the Manila Hotel. Now we know a little about him. He took his medical and surgical work at the University of Minnesota and hung out his shingle as physician and surgeon in 1896, and also spent a year prior to 1898 as a state-prison doctor at Stillwater, Minnesota, under Warden Wolfer, one of the earlier and one of the better modern L I INSURANCE For Every Need and Purpose ATLAS ASSURANCE CO., LTD. CONTINENTAL INSURANCE CO. THE EMPLOYER'S LIABILITY ASSURANCE CORPORATION, LTD. ORIENT INSURANCE COMPANY INSURANCE COMPANY OF NORTH AMERICA General Agents.. I LSE L, INC. Thirteenth and Boston Streets, Port Area, Manila, P. I. Telephone 2-24-28 P. 0. Box 598 A I, I _ 24 2'I.'e Ameirican Chamber of Commerce Journal October, 1941

penologists. But in 1898, the call coming for volunteers, Dr. Beebe joined the navy in June and in due course reached the Philippines. He was a junior surgeon, and on the eve of becoming a Basilan planter without as yet realizing it. During his Philippine tour a detachment of 180 Marines was stationed ashore at Isabela, Basilan, and Dr. Beebe was detailed there as medical officer. Dr. James W. Strong (not then graduated in dentistry and medicine and surgery as he finally was before quitting the navy) was the hospital steward. Duty being insufficient to occupy these young men much, they spent their days exploring Basilan, area 181 square miles, and studying its climate, flora and fauna. It soon loomed to them a paradise, and so it practically is: heavily forested mountains, alluvial coastal plains, well-drained arable lands, extreme fertility, distributed rainfall, rare drouths, and the location well south of the typhoon belt, across the channel from Zamboanga, to which port Basilan is politically attached. Young Strong dreamed of rubber on Basilan. In later years he made the dreams come true. He founded first the Basilan Rubber Company, and when this was sold to Swiss interests, the American Rubber Company he still manages-the first and second rubber companies in the Philippines chronologically and on a basis of annual production. Dr. Beebe wasn't dreaming yet. The Beebe attraction to Basilan grew out of red tape and gold braid. On navy transports the surgeon is attached to the captain's staff and the captain often has the surgeon substitute for him at table. If not, then the surgeon presides at his own table. Dr. Beebe liked none of this; already he was coming to be shy in society. In 1901, going home by way of Suez on the bit of a transport called the Marietta, the voyage was 121 days altogether, with many stops at little foreign ports where the local officials deemed exchanges of international courtesies de rigeur. Dr. Beebe came in for more than his just share of this sort of thing, and in December, back in Minneapolis, resigned his commission. Inside of 2 months more Dr. Beebe was living at Zamboanga, loaning money and buying and selling copra, awaiting opportunity to buy what he wanted on Basilan island. One American who already had a place down there was the late R. A. McGrath, the shoe maker, later the shoe manufacturer, Hike shoes and the United States Shoe Company on calle San Marcelino at the intersection with calle Isaac Peral, Manila. After 10 years, bringing time up to 1912, McGrath wanted to sell his Basilan place, and Dr. Beebe bought it and moved over from the mainland. It has been his home ever since; it is 650 hectares, not perhaps all bought from Mc Grath, and something over 1/5 of it is planted to coconuts, the remainder still undeveloped. Dr. Beebe and a sister still living are wealthy in Minneapolis business real estate. This summer's trip back there was partly on matters of business relating to the property, partly to see whether Dr. Beebe could take root any place in America again. The business was over with in a week, and Dr. Beebe abandoned Minneapolis as a place too eternally hot, during summers, to live in. Then he explored other cities, and at last Los Angeles. His hobby is good reading, and Los Angeles has the famous Huntington library. He was beginning to think he could make Los Angeles tolerable to him, when a vacant seat turned up on one of the clippers making off for Manila. Then his delusion that he could be content away from Basilan vanished, he bought that reservation and told California goodbye. The Beebe plantation is back a, few kilometers from Isabela, Basilan's chief port, and 11 kilometers from Dr. Strong's place. But unlike the Strong place, Beebe's is not a show-place always cordially open to visitors. Alone, and now 71 years old, Dr. Beebe likes to choose his visitors; he has a comfortable house, nothing fancy, he says, and he emphasizes it that his friends are welcome. At the head of the stairs leading to the house, that is of course on the second floor of the building, a gauntlet.,.,,r.PU The Americam Chaxmber of Commerce 7Yourna October, 1941 25

has to be run-a trap door. Mail comes over from Zamboanga, chiefly bundles of new books: history, but not historical novels, travel, reports of scientific expeditions, prime narratives of all sorts, and a few choice novels each year. Dr. Beebe is one of the most liberal patrons of publishers in all the Philippines; his eyes are strong and his glasses have not been corrected for 8 years. He still reads a great deal during the night, awaking perhaps at 1 o'clock with rain on the roof and a veiled moon over the fields, and reading on to false-drawn hour when the Southern Cross has sunk below the horizon; but he does this less often now than when he was younger. He is convivial company in Manila or any place he may be, outside Basilan; his health is sound and he is not averse to whisky-and-soda as early as 10 o'clock of a morning, if the conversation is interesting that goes with it. But on oasnlan, never a drop. The stuff is not even in the house. Dr. Beebe holds that a fellow alone can't afford the risk. Besides, there is a manager at the plantation and the example must be set. Even to this day, Dr. Beebe remains disinterested in rubber, ideal as Basilan is for that popular commercial plant. The production of the Beebe place is 30 tons of copra a month, currently bringing about $75 a ton. You have to figure something for expenses, but what remains is quite enough. Copra has ups and downs d I Philippine Bank of Communications Trade and Commerce Building Manila, Philippines FULLY PAID-UP CAPITAL - - - p2,000,000.00 Every description of Banking and Exchange business transacted. Savings and Fixed Deposit Accounts accepted in local as well as foreign currencies. Loans granted on approved securities. This Bank, with Correspondents throughout China and in all principal cities of the World, offers excellent facilities and service for foreign remittances and import and export bills. Further information will be furnished upon application. Cable Address: "KAOTONBANK" P. 0. Box 3369, Manila, Philippines A but is, on the whole, a steady proposition. Dr. Beebe gets exercise by supervising his groves, a task that entails a good deal of walking. This gives him such appetite as health requires, and tires him enough to make reading pleasant and sleep enjoyable. * * * Mr. and Mrs. Jack Percival have settled in Manila, Jack the representative of the Sydney (Australia) Morning Herald, whose circulation runs about 450,000 copies a day and whose repute, comparable to that of the London Times, is that of the second newspaper of the British empire. It is the oldest newspaper in Australia and owned in a very rich family whose sons are apprenticed to the paper at birth; at the right age they take their places at the bottom in the organization, and learn everything, from sweeping out and cleaning up to the full responsibilities of editorship. The Sydney Morning Herald therefore has traditions such as the old New York Sun had in Charles A. Dana's day: When you see it in the Sun, it's so. Is not Manila of growing importance in the news, when such a newspaper stations a full-time man here? It follows closely on Henry Luce's stationing William E. Fisher here early this year for Time-Life-Fortune and the Architectural Forum. (Bill Fisher may be off to India by the time this reaches the reader but he is based here, as it were, for the Far East). Percival says the Australian public is becoming daily more conscious of its Pacific relations, and desires to establish and maintain friendly relations with surrounding democracies. The Australian public is extremely interested in the Philippines as the "A" in the "ABCD Line", America, Britain, China, Dutch (Netherlands East Indies), the front against western Pacific aggressions. He says that Australia's war effort is enormous. In the brief time of 18 months it has become highly industrialized. It is making De Havilland Tiger Moth trainers and engines, NA 33 trainers and Pratt & Whitney 450 hp engines, and now, twinengined Beaufort bombers (fitted with locally-made 1,050 hp Pratt & Whitney engines), antiaircraft guns, Brenn guns, field artillery, rifles, Brenn-gun carriers, bombs, shells, rifle bullets, and mines. Australia is also buiding corvettes (war ships) and merchant vessels, some of which have already been launched. She has sent a large force to Malaya, which she maintains and supplies, and another large force to the Middle East. Next year she will have 600,000 men under arms, the 14th part of her population. Under the Empire Air Scheme she has offered to train more than 50,000 pilots and ground staff, and is well ahead of schedule. Percival has some colleagues from the Herald in the Far East. M. Standish covers Singapore and Malaya, and R. K. McDonald covers Free China at Chungking. The Herald foreign-news report is syndicated to leading Australian newspapers in Brisbane, Sydney, Melbourne, Adelaide, 1. 11 26 The American Chamber of Cknnmerce Journal October, 1941

Tasmania, and New Zealand. Percival began a comprehensive Far Eastern trip last January. Then the Herald loaned his services for a while to the Australian Associated Press, and took him back a month ago. In Sdyney for many years he has been the Herald's aviation correspondent. The world is of course aware how airminded Australia is, but is less aware of the fact that the Wright Brothers were anticipated by an Australian box-kite flyer, one Hargrave, who also had designed an air machine to run by engine, and that when the Wrights applied to him for use of patent rights, he waived royalties in behalf of aeronautics and sent the Wrights everything he had thought up. The Wrights were duly grateful. Percival has participated in a number of pioneer transocean flights that led directly to Australia's fortunate loss of her sense of helpless isolation. These flights were those of the late Sir Charles Kingsford-Smith, and the late Flight Lieutenant T. P. Ulm. Kingsford-Smith turned in his time over the Bay of Bengal 6 years ago, trying to break the Mildenhall-Melbourne record of Messrs. Scott and Black in the Melbourne Centenary Air Race of 1934. Ulm disappeared off Hawaii about the same time, pioneering from San Francisco to Sydney via Honolulu and Suva (Fiji Islands). Percival has also worked with Captain P. G. Taylor, now delivering flying boats from San Diego to Sydney for the Australian government. Pioneer flying in which Per cival participated includes: The first mailpassenger flights between Australia and New Zealand in the Fokker FVII Southern Cross in 1933 and 1934; early flights between England and Australia, the last of them the Trans-Indian Ocean Survey in 1939 from Wyndham on Australia's west coast to Mombasa on Africa's east coast via Cocos Island, Diego Garcia, and the Seychelles Islands, in the Consolidated Flying Boat Guba that Australia and Britain jointly chartered from the American anthropologist, Dr. Richard Archbold, of the American Museum of Natural History. The survey was in the charge of Captain Taylor, wvho did an admiral job. This flight was in the charge of Captain Taylor, who reported to Australia and Britain on the suitability the island bases for use for a commercial airline as well as for naval and military aircraft. Percival's enthusiasm for aviation (obviously the means of redemption of the western Pacific from entail to the future) once carried him into pictures. He produced and directed the feature called The Old Bus, a story of Kingsford-Smith's airplane The Southern Cross that made the first Trans-Pacific flight in 1928 and subsequently carried the first mails between Britain and Australia, first flew the Tasman sea between Australia and New Zealand, in 1928, and also flew the Atlantic in the pioneer period of that adventure. The picture was quite written a book. However, he is rather certain to write one (all correspondents do), and when he does, we surmise he will say good things about the Philippines and relate their destiny with that of democracy more generally throughout that vital region of the world place-named originally by this humble magazine, the western Pacific. If we've made no other contribution to world thought, we have at least done this. * * * Louis Weinzheimer, former vice president and manager of the Calamba Sugar Estate bought recently by Vicente Madrigal, is now a beet grower in California where friends report he makes a handsome job of it. Louis would. Besides, he has sons now to help him. From the Christian Science Monitor of July 15 we learn the beet-growers' attitude in California (as reported from the Salinas Valley unit of the Central California Beet Growers Association) toward renewal of AAA. The growers want it renewed, but with provisos thatThe beet quota.be upped 15%; that clauses having to do with conservation, fertilization, cover-cropping and related matters be taken out and placed in the general conservation act; that labor restrictions be deleted, because they are not imposed on other crops; that a tolerance of 3% be exercised in measuring plantings; that the sugar act be amended to permit the founding of cooperative factories; and a hit. We do not see that as yet Percival has U= -- PHILIPPINE REFINING COMPANY, INC. MANILA CEBU Producers of Coconut Oil, Copra Cake and Copra Meal THE SEAL OF QUALITY We Solicit Direct Shipments of Copra Manufacturers of SAMPAGUITA SHORTENING CHAMPACA MARGARINE CAMIA EDIBLE OIL 1035 ISAAC PERAL - TEL. 5-69-51 - MANILA 0 L "THE GAME OF A THOUSAND THRILLS" iy Alai 214 TAFT AVENUE.1/7~ //// / MANILA / {7 ^ EVERY AT 7:00 GENERAL ADMISSION P1.00 & P0.50 Jai-Alai Added Attractions: * ORCHESTRA * BALL ROOM * KEG ROOM *4 BARS * CONTINENTAL CUISINE * SPORTS * GYMNASIUM Air Conditioned For Your Comfort The American Chamber of Commerce Jourina October, 1941 27

that the sugar beet seed industry, grown to much importance in California, be protected by tariffs to keep it in the country and not have it go back to Europe after this war like it did after World War i. If Louis' fine hand is not in some of these suggestions, as we think our readers will agree with us it must be, then California is to be congratulated on the high IQ of her beet growers. * * * Herbert and Janet Walker's Tropic Products Company is enjoying a steady export trade in Cocohoney, exported to Hawaii and the homeland under the name Mandalay Coconut Syrup. It's a neat little home industry, the factory, spick and span, adjoining the Walkers' beautiful home in San Juan del Monte. The combination, concern F -- KEEPING FOLKS WELL When your physician writes a prescription, he specifies exactly what drugs he wants and the amount of each ingredient. But the problem of compounding these substances so the best results are obtainedthat is left entirely to a pharmacist. How important it is, then, to choose your pharmacist with care and take your prescriptions to one who is properly qualified by law, by education, and by experience to perform the important task of compounding. All the accumulated knowledge brought to bear by your physician in writing prescriptions may go for naught unless the compounding is done in accordance with approved methods. When your prescriptions are dispensed by us, you are assured of getting exactly what your physician specifies. Further, the compounding will be properly done by an experienced pharmacist. Only the highest quality medicaments are used-made by the most reliable makers of pharmaceutical products. BOTICA BOIE Philippine American Drug Co. 95 Escolta Since 1830 MANILA ing which Dr. Walker says there is no secret, is fresh coconut emulsion procured by shredding and centrifuging the fresh coconut meat, and sugar. The trick is consistency: a product from which, in time, the sugar does not crystalize. How that is done, though it is, represents years of research by Dr. Walker, so he keeps it to himself. The domestic market is also good. There is also room for expansion, since as yet there is no New York agent, nor any at Chicago for the Middle West. Mandalay, in Owens-Illinois bottles specially designed, comes in 10-ounce and 17-ounce quantities. By tins for the wholesale trade it sells in single gallon and 5-gallon quantities. (Owens-Illinois have been sending packages of 4 cartons of the bottles boxed in corrugated paper; they say now that no more of this heavy-weight stuff is to be had till after the war). Bear Creek Orchards, Medford, Oregon, who specialize in gift baskets, are good Walker customers taking 10,000 bottles in a shipment, more than 6 tons by measurement. Service Cold Storage Co., Chinese, at Honolulu, handle the Hawaiian trade. May Co., subsidiary of Macy's in New York, are agents at Los Angeles whose recent orders have also been for 10,000 bottles. * * * A friend has asked for a note about William H. Whitney, long an American resident of the Philippines, who died after long illness at St. Paul's about 3 weeks ago and is survived by Mrs. Whitney, whose home in America is San Francisco, California. Memorial Services were at the Elks Club and attended by many friends and club brothers. The fatal illness was anticipated by a fall, on the Escolta. There may have been internal injuries, as Mr. Whitney's weight was about 325 pounds and he was 73 years old. When we called at St. Paul's with Mrs. Robb's flowers, and chatted with him as much as we dared, it seemed beyond hope that he could recover. We suspect that he thought he might be an invalid, if he got well, and that he didn't want life on those terms. He was a man of unostentatious courage, with naught to fear from death. William H. Whitney was an upstate New Yorker, though it may be, as has been stated in the press, that Iowa was his native state. His early career was in the street-car business. When he went west to California, he was for some time a motorman in San Francisco. When he came to the East, it was to Korea, where he was an official in a tram company. Before he left Korea he was for some years with a British gold mining company there. From Korea he went to Shanghai and established himself in the hotel and cafe business, the same business that he followed in Manila on coming here 30 years ago. About 1914 he took over the management of the Oriente Hotel, where most of his American friends came to know and like him. He sold the Oriente Hotel, about 1918, to the Cantonese who had been running it for him, the well-known Mr. Johnny. lie then got into the employment of the Motor Service Company (its shares owned by a number of land-transportation men), and remained in that employment until he retired from work, 3 years ago, when he was 70 years old. For many years, until his retirement, he ran Motor Service's Azcarraga branch. He always spoke quietly, and was extremely sedentary because of his huge weight, but he had the faculty of commanding an alert loyalty from men working under his charge. He was also highly esteemed by his business colleagues. Twenty years ago he and Mrs. Whitney bought the Charles Heffington home in Pasay, a beautiful place near the bay, still in the Whitney ownership. Mr. and Mrs. William H. Whitney were a devoted couple; out of business hours, where one was there was the other. * * * International Products, Inc. will be making soya milk by the Dr. Miller patented process for the Philippine and export markets about October 1, we learn from Alfonso SyCip, the company's president and well known Chinese businessman of Manila. Meantime, for the Manila market, milk is being made from soy powder, the pulverized desiccated beans, and 5 delivery trucks are busy meeting demands of the house trade. This milk is bottled and requires icing or cooling like fresh cow's milk. So here is a new industry in its baby clothes, so to speak. Dr. Harry Miller, the Adventist goiter COMMONWEALTH OF THE PHILIPPINES Department of Public Works & Communications BUREAU OF POSTS MANILA SWORN STATEMENT (Required by Act. 2580) The undersigned, Walter Robb, Editor, Business Manager of the American Chamber of Commerce Journal, published monthly in English in Manila, after having been duly sworn in accordance with law, hereby submits the following statement of ownership, management, circulation, etc., which is required by Act. 2580 as amended by Commonwealth Act No. 201. Editor, Managing Editor and Business Manager, Walter Robb, P. 0. Box 1638, Manila. Owner and Publisher, American Chamber of Commerce of the Philippines, P. 0. Box 1638, Manila. Printer, Carmelo & Bauermann, Inc. 2057 Azcarraga, Manila. Office of Publication, Room 510, Heacock Bldg., Manila. Owners or Stockholders, American Chamber of Commerce of the Philippines. Bondholders, mortgages, or other security holders of one per cent or more of total value: NONE. WALTER ROBB Editor, Business Manager Subscribed and sworn to before me this first day of October, 1941 at Manila, affiant exhibited Residence Tax No. 12506 issued at Manila on January 11, 1941. SANTIAGO MACAPAGAL Notary Public My Commission expires Dec. 31, 1941. Doc. No. 188, Page 9 Book III, Series 194,1 28 The American Chamber of Commerce Journal October, 1941 (

specialist well known in Manila from several professional visits here, holds the patents involved in the industry and has, Mr. SyCip tells us, granted use of them to Mr. SyCip in the Far East. With success at Manila, other factories are contemplated at Singapore and Hongkong. The Manila factory is under the management of Paul SyCip, a graduate chemist of the University of the Philippines who returned to Manila a few months ago from a year's professional apprenticeship at the Miller laboratory at Mount Vernon, Ohio: International Laboratories, Inc. Mr. SyCip says the factory, calle Nagtahan, will produce 1,000 gallons of Soy Lae, the name under which the drink sells, daily, or 2,000 gallons if working 24 hours. Retail prices, he says, will be 10 centavos per half-pint, 20 centavos per pint, 30 centavos per quart, all in bottles. For the grocery trade the drink will be tinned. A month ago Mr. SyCip visited the government homestead settlement at Koronadal, Cotabato, Mindanao, where, he reports, a lusty crop of soy is coming on for harvest about November. The project imported 750 bushels of soy seed from Ohio, Mr. SyCip says, from which large fields were planted. Mr. SyCip expects to buy these beans for his factory, and talks as if the factory might be the means of introducing a new farm industry in the Islands. Another possible source of the beans is, of course, China, but Julian Arnold, U. S. commercial attache at Peking for 3 decades, advises the Philippines to grow their own and swears they must greatly profit by doing so. Philippine importations of dry soy beans sometimes reach the value of 2/3 of a million pesos a year. A bibliography on the subject may be procured either from the Bureau of Science or the Bureau of Plant Industry. (Or from our office). Here are 4 varieties: Variety Macoupin Dunfield Manchu Otamao-o Str. 3 All said to mature in after planting. Fat Protein 20.86 33.00 22.28 32.25 18.03 37.50 16.47 39.69 85 to 110 days that year bought 7% units, 7% eggs or 7% loaves of bread. In 1932, the wholesale dollar became worth much, much more, being able in that year to buy 12% units. This means that from 1920 to 1932, the purchasing power of the dollar varied by more than 50 per cent. By 1937, the dollar-value had changed to the point at which it would purchase 7% units, almost the exact purchasing power of 1922. Dollar-value is a constantly changing factor. By 1940, the dollar carried a purchasing value of 9 units. 1941 will have a different purchasing power, 1942 another change and so on through all the years ahead. If we were to allow the fact that the value of the dollar is constantly changing to govern our financial plans, then we would do nothing, buy no life insurance, Farmers' Circular No. 12, Bureau jf Plant Industry, Manila, by Dr. P. A. Rodrigo, assistant agronomist, gives rather a full account of soy and its manifold utility. The Ami variety grown in Batangas during generations back is, to date, the variety most widely cultivated here: Batangas, Laguna, the College of Agriculture, and Ilokos. It yields 15 to 25 cavans of dry beans per hectare (2-1/2 acres). Breeding work on soy plants has also been n progress here for years. Yet at this writing, soy may not be said to be a commercial Philippine crop. Maybe this factory has been wanting. Big Dollars, Little... Continued from page 8 the period might have been inflationary or deflationary. Inflation is a condition under which the dollar buys less in commodities; deflation is a condition under which it buys more. The value of a dollar always is relative. A study of the wholesale price index of the past twenty-five years indicates the sharp and radical periods of inflation and deflation through which we have lived. Assuming that in 1915, the dollar would buy ten units of any given commodity, then in 1920 the same dollar would have bought less than half the number of units. For example, the dozen eggs of 1915 became the half-dozen eggs of 1920; the loaf of bread of 1915 became a half-loaf in 1920. By 1922, the value of the dollar with relation to its purchasing power in commodities advanced so that the dollar of ftn* ep NO SQUEAKS, NO SQUAWKS, No GRUNTS In your car I,~ ^M!~~^ Our "neighborhood car care" service is much more than a lubrication job. Squeaks, squawks, grunts, all such "bugs" are neatly eliminated-without extra cost. And you can expect a lot more from us in the service line-including complete travel data-free. Right here at our station we've got what it takes to make your driving safe, smooth, pleasurable. Call on us today. SHELLUBRICATION SERVICE STATIONS Taft & Herran.............Tel. 6-75-22 Luneta......................Tel. 2-11-31 Ayala Bridge................Tel. 2-10-26 Calle Morayta..............Tel. 2-40-39 Also in Baguio THE ASIATIC PETROLEUM CO. (P. I.) LTD. P. 0. Box 441 Tel. 2-25-41 MANILA l I The American Chamber of Commerce Journal October, 1941 29

start no businesses, make no investments, simply stand still, without planning for the future or attempting to build for it. But we go ahead with our plans regardless of the constant change in the value of the dollar and that policy which has brought men financial success in the past will continue to bring them financial success in the future. Pioneering Public Schools... Continued from page 9 world's biggest liars were employed in the public service of Bukidnon, one the constable and two the district engineer, until he himself saw tabons at Damolog. "The bird," says Kindley, in behalf of science, "is about as large as a chicken, black in color, and has a bunty tail. It can fly about as much as a chicken and digs a hole perpendicular in the ground from 1 to 2 meters deep and usually at the taproot of a tree. It lays eggs much larger than goose eggs, somewhat pink in color, which after a few days becomes very white. Excepting a thin white coating, yolk fills the entire egg; the white resembling that of a duck egg and the yolk being a pale yellow. Digging, the bird scratches the dirt loose and then wallows its feathers full of it, then makes for the surface and shakes it out, husband and wife working as a team. The eggs are deposited at the bottom of the hole so they won't touch each other, and when the hen __ _____ _ _____ Cgo 0 0 e 90 0 0 cc 01450 0 0 The Market Guide for the Philippine Islands sales, credit, and collection work. will aid you in all 1941 Edition Fully lists 1,510 active business firms in all parts of the Philippines, giving complete name, address, and line of business. Each listing rated as to capital and credit, based on information and ledger experience compiled during our 20 years' activity in serving American exporters. -- $15 U.S. - B finishes laying she fills the hole up with sand and abandons it to fortune. The small birds hatch, time of incubation not known, scratch their way to the top and light out on their own." From Damolog Kindley doubled back through constant rains for home at Malaybalay, where he arrived in 3 days and reports: "I took off my muddy clothes, edged into my house (which comprised office, storeroom, sittingroom, swearingroom, etc., all in one) between cases of lard, salmon, coal oil and my typewriter, climbed over a few sacks of rice and stretched out in a reserved corner called bed. My thoughts drifted back to Baguio to the superintendents' convention and a certain resolution presented by an honorable committee that read something as follows: Re. solved: that each division superintendent be furnished a janitor and chauffeur. These gray hairs of mine were not caused by fright. For years I have pushed my fingers among them in the solution of private and official problems, but never before was the conglomerated mess of sawdust beneath their roots so puzzled as it has been in this instance, trying to find ways to utilize these two equipments when they arrive at Malaybalay. If that resolution had been extended to include cook and lavandera (male or female at the discretion of the superintendent), then my elastic smile would have buttoned behind the ears; or if I were eligible to either position mentioned in the resolution, I might apply for promotion to it, but as I have never studied mechanics and cannot conduct correspondence in Tagalog or Spanish, I am unfit. But 'it is natural for man to indulge in the illusions of hope, etc.,' so if any of the superintendents with palatial modern offices should ever be so unfortunate as to need a bull-driver, I can probably qualify: I have had 5 years' experience and speak the requisite vernacular fluently. "Taking it all and all, I thoroughly enjoyed every hour of this inspection trip, but 'Quoth the raven!'" Thousands of manufacturers and exporters of the United States and Canada have found our Market Guides, which we have published for 20 years covering Latin America and other markets, indispensable in the careful planning and handling of their sales. If desired, we will gladly send you, without obligation, full particulars and specimen page of our Guide. AMERICAN FOREIGN CREDIT UNDERWRITERS 84 William Street New York, N. Y. Sugar Market Report (August 16th to Sept. 15th, 1941) _ ---- By Warner, Barnes & Co., Ltd. Trading in the No. 3 Contract on the New York Sugar Exchange remained suspended for seven business days and was resumed on August 23rd; since that date, transactions have been very light and quotations are slightly higher than those ruling prior to the suspension of trading. Exchange officials were requested by the Office of Price Administration and Civilian Supply to announce that that Office would regard sugar transactions at prices in excess of the ceiling of 3.50~ fixed by it as violations of its order. In consequence, there has been no business re 30 The American Chamber of Commerce Journal October, 1941

ported at over this price. Refiners, however, have been extremely anxious to secure supplies of sugar, fearing that melting operations might have to be suspended due to lack of raw stocks, and several sales have been made on the basis of a guaranteed 3.50~ minimum, with any advance in the price ceiling before arrival date for account of the seller. On August 29th, the AAA announced a further large quota increase of 996,140 short tons, which brings the total U. S. consumption quota to the record figure of 9,002,976 short tons. The larger portion of the increase has been granted to the beet producers and to Cuba, the latter country being allowed an additional 375,000 tons for entry against the U. S. import quota. Shortly after this announcement, it was reported that 275,000 tons of Cuban sugar were sold to Atlantic Coast refiners at 2.22~ f.a.s. Cuba, with the stipulation that freight over 38~ was to se for account of the producers. At the same time, the U. S. Maritime Commission announced maximum freight rates from Cuba to North Atlantic ports at 34~ and 36~. No freight space is available at the Maritime Commission's rates, shipowners being uninterested, and there appears to be some difficulty in arranging for the transportation of the sugar sold in this transaction. There have been many rumours regarding an increase in the price ceiling, but no authoritative information has been issued and it seems unlikely that OPACS will alter their previous decision. Rumours have also been circulating that the Cuban duty will be reduced to.75~, also without confirmation, although hearings on the subject have been held in Washington. The No. 4 Contract on the Exchange has continued very active, with quotations advancing fairly steadily throughout the period. The cause of this has been partly that the increased amount of Cuban sugar made available to the U. S. would apparently result in a decrease in the amount available for the "world" quota, although this is not certain, since Cuban producers have apparently been unwilling to sell at the price ceiling fixed by OPACS. Throughout the period also, there have been sales of Cuban sugar to the U. K. at prices advancing from 1.75~ f.o.b. in the middle of August to 2.10~ f.o.b. during the second week of September. Refined sugar prices were reduced by ten points on September 12th to 5.25~. There have been speculative reports that Iraq and Iran were making ready to bid for U. S. refined sugars, but there 'is no confirmation thereof. Two of the Philadelphia refineries resumed operations early in September, but the third one is still suffering from the strike. Quotations on the No. 3 Contract on the Exchange for the period fluctuated as follows: September....... January......... March........... May............. July............. Low 2.600 2.680 2.700 2.720 2.740 High 2.750 2.800 2.820 2.84. 2.870 Latest 2.74# 2.78# 2.770 2.800 2.824 The market for local consumption sugar remained more or less unchanged throughout the period, quotations ranging from P3.95 to P4.05, closing at P4.00 per picul. Exports to the United States during the month of August were larger than those for the previous month, amounting to 44,711 tons centrifugals and 6,800 tons re. fined; the increase in shipments was chiefly due to two large cargoes of centrifugals destined for the Pacific Coast. Total shipments from November 1st, 1940 to August 31st, 1941 are as follows: Reported sales of Philippine sugar during the period amounted to 18,000 long tons on the basis of a minimum price of 3.50~, subject to an increase if the priceceiling is raised; 15,000 tons of this is for 1942 arrival, which means that only 3,000 tons is present crop sugar. Sales of 1941 quota sugar have been restricted by the continuing lack of freight space; no transactions in export sugar have been made locally for the same reason. Centrifugals............ Refined................. Total............... 670,262 tons 42,367,, 712,629 tons -- 5 REASONS Why You Should Prefer THE MRR 1. Safety 2. Comfort 3. Speed 4. Economy 5. Precise Transportation THE MRR System takes pride in transporting every passenger safely: You will agree the railroads are the safest transport anywhere. You are sure not only of your safety but also of your comfort in spacious coaches provided to meet every personal convenience. Schedules are wellmaintained and you enjoy speed that only a precise transportation concern can give. And for all these you pay so little-especially for long trips. Daily expresses with bus connections for outlying points. In Manila call Information, Tel. 4-98-61, for schedules and fares. In the province see your station agent. MANILA RAILROAD COMPANY Tutuban Central, 943 Azcarraga, Manila, Philippines I The American Chamber of Commerce Journal October, 1941 31

Copra And Its Products (Report for the month of August, 1941) By Kenneth B. Day & Leo Schnurmacher During August, the copra market improved steadily throughout the month from the low point registered at the close of July. COPRA-Copra arrivals were fairly heavy although not as heavy as has been expected in view of the practical cessation of shipments from outports. Arrivals in Manila were nearly 16% over July and 4% over August, 1940, while Cebu arrivals were 15% less than July but 39% over August of last year. The month opened with open quotations of P8.00 per 100 kilos resecada delivered in bodega, with practically no sellers. The: Leo Schnurmacher Kenneth B. Day market slowly rose throughout the month with considerable selling all along the rise. During the last two days of August, the market reached P10.00 and there was fairly heavy selling at this price. The Pacific Coast market was steady and business was accomplished during the second half of the month at $3.85 and $3.90 in sellers' space. For shipments in buyers' space the market improved from $2.75 to $3.00 towards the close, but very little business was reported due to the limited amount of space which buyers, were able to obtain. Shipments of copra can be termed heavy and especially so from the port of Cebu which accounts for over 70% of the exports. Statistics for the month follow:Arrivals: Sacks Manila.................... 588,901 Cebu...................... 446,962 Shipments: Metric Tons Pacific Coast............ 23,328 Gulf Ports.............. 6,901 China and Japan........ 355 Total........... 30,584 Beginning End of of month month Stocks on hand: Tons Tons Manila.......... 38,438 33,441 Cebu............. 31,903 31,042 COCONUT OIL-The coconut oil market on the Atlantic Coast was steady throughout the month whenever offers could be made, with a decided premium for spot delivery. An increasing amount of coconut oil is being shipped through the West Coast and the mid-western markets are being supplied from this source instead of from the Atlantic Coast as formerly. Nominally the coconut oil market remains unchanged at around 5/4 cents c.i.f. Atlantic Coast for future shipment, but f.o.b. cars on the Pacific Coast for fairly prompt shipment commands about the same figure. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 8,995 Atlantic Coast........... 4,915 Other Countries.......... 35 Total........... 13,945 Beginning End of of month month Stocks on hand: Tons Tons Manila & Cebu.... 12,816 21,420 COPRA CAKE AND MEAL-The market for copra cake and meal was extremely dull throughout the month as local requirements appear to be fairly covered for the time being, and no space can be secured for sales to the Pacific Coast. Values are nominal, entirely dependent on the position and method of delivery. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............ 1,980 China and Japan......... 152 Total............ 2,132 Beginning End of of month month Stocks on hand: Tons Tons Manila & Cebu.... 9,139 14,100 DESICCATED COCONUT-The desiccated coconut market remains active and all desiccators are working at full capacity and shipping whenever they can secure space. Shipments for August amounted to 6,178 tons which would normally be a heavy shipment. GENERAL-The copra market has been much better during August than July, and the month closed with a distinctly firmer tone than has been the case for several months. The market is, however, entirely dependent on shipping conditions and there continued to be insufficient space for shipment of copra as such. There are rumors of shipments of copra to Vladivostok to aid Russian food situation, and these rumors have had a decided effect in strenghtening the general tone of the market. How much copra and coconut oil will be shipped to this outlet remains to be seen. There are apparently no vessels now operating between the Philippines and the United States which will be diverted to Vladivostok and only such shipping as Russia can furnish will be available for this service. ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc. New York Silver Line, Ltd. London Java Pacific Line Batavia Leif Hoegh A/S New York Operating the Following Services: KERR- SILVER Round The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) -'Oo — Trade 2-15-21 & Tels. 2-15-22 Commerce Bldg. ( 2-15-23 MANILA Southken Islands Cpuises Cebu-Dunaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano —m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmariflas Manila, P. I. Phone 4-98-91 Packaged fuels are a novel development in the United States to promote coal sales. The advantages of the cleanliness and of buying fuels in less than ton lots appeal to small householders. Packaged fuels designed primarily for local consumption come in 3" to 4" cubes, usually 6 to the package, weighing about 10 pounds, wrapped tightly in heavy paper and sealed with gummed tape. 32 The American Chamber of Commerce Journal October, 1941 (

Rice Review (Aiugust, 1941) By Dr. V. Buencamino Manager, National Rice & Corn Corp. The market gained further strength during fic n the month covbroadened considerably. In spite of the arrival of a cargo of rice from Rangoon for the National Rice and Corn Corporation and the comparatively heavy receipts by rail from the primary markets, the market remained bullish throughout. We interpret this to mean that the stocks both in the centers of production and consumption have run unusually low without the trade taking notice of the situation. When scarcity began to be felt and the merchants looked around for supply to replenish their stocks there was not much to be found. This was particularly true of the Macan variety, the price of which has been fixed by Executive Order No. 233 at P6.10 per cavan in Manila for second class. Were it not for the stabilizing influence of the National Rice and Corn Corporation and the maximum price fixed by the government, there was no doubt that prices would have advanced more substantially. First class Macan, however, and the fancy grades which are not regulated by the government registered more important appreciations in price. The market opened quiet with second class Macan selling at P6.00, first class at P6.15 and Elonelon at P6.70. Influenced by the reported shipment of NARIC rice from Rangoon scheduled to be received sometime during the month, the trade adopted a very conservative policy', buying only to meet urgent requirements. The result was that inventories in the hands of dealers and distributors were unusually low. When the shipment of rice from Rangoon arrived, the trade was anxiously awaiting announcements as to what price it was to be sold. In the absence of such announcement, the trade continued to adopt a watchful waiting attitude. Under such circumstances the appearance of any appreciable demand would likely produce important advances in price. The closing quotations were P6.10 for second class Macan, P6.30 for first class, and P6.90 for first class Elonelon. Arrivals in Manila Month Rail Water Total Aug., 1941... 190,485 22,710 213,195 Aug., 1940... 143,714 977 144,691 July, 1941... 209,261 34,545 243,806 Shipments to provinces by water Montht Quantity August, 1941.................. 65,480 August, 1940.................. 111,142 July, 1941.................. 91,750 PALAY With supply nearing exhaustion and mainly in strong hands, the market remained very firm at a price beyond the parity of the rice market in Manila. Sales have been reported as high as P3.00 for Macan and P3.30 for Elonelon in the principal provincial markets. Tobacco Review (August, 1941) - By Alhambra Cigar & Cig. Mfg. Co. TOBACCO: The market in local grades continued featureless. Some improvement was noted in shipments abroad, particularly 4,000 bales shipped to the Spanish Regie via New York. Comparative Ex I To UNITED STATES A Vessel............ Late October A Vessel........... Late October A Vessel.......... Early November A Vessel.......... Early November *A Vessel....... Middle November A Vessel.......... Late November A Vessel.......... Late November *FREIGHT ONLY FOR FURTHER INFORMATION REGARDING SAILINGS APPLY TO rI I~~IAn PORT AREA MANILA I m - The American Chamber of Commerce Journal October, 1941 33

port figures are: Australia and New Zealand. China......... Hong Kong..... Indochina...... Java........... Spain.......... United States... Rawleaf, Stripped Tobacco and Scraps Kilos total for this year is still some 20% below the corresponding 1940 period. Comparative figures are: 2,572 13,550 2,360 125,193 7,040 715,851 226,750 August 1941 July 1941 August 1940 January-August 1941 January-August 1940 Cigars 18,157,127 14,091,054 12,666,733 109,724,339 135,481,487 the market. Local prices fluctuated daily on receipt of news from U. S. with a more or less downward trend throughout the month. NOMINAL PRICES OF LOOSE FIBER IN MANILA (Per Picul) August July August January-August January-August 1941 1941 1940 1941 1940 1,093,316 24,691 101,188 3,119,513 6,694,426 to the United Manila Hemp By H. P. Strickler Manila Cordage Company During the first three weeks of August, local markets were easier and prices declined due to the proposed government price control ceiling in the U. S. and all manufacturers having withdrawn from August 1, 194.1 F - P21.00 I - 18.50 J1 - 14.50 G - 10.00 H - 8.00 K - 7.00 August 31, 1941 F - P19.50 I - 17.00 J1 - 13.00 G - 9.50 H - 7.50 K - 6.75 NOMINAL PRICES OF LOOSE FIBER IN DAVAO (Per Picul) CIGARS: Shipments States show some improvement but the A - - -.L 4 I... August 1, 194i.1 F - P22.00 I - 21.50 J1 - 20.25 G - 17.50 August 31, 1941 F - P20.25 I - 20.25 J1 - 19.25 G - 16.25 epe da le Sewice g -2aaiit^ jf o4v"e54 Z/C~c / Real Estate By P. D. Carman Addition Hills and Boulevard Heights CARMELO & BFUERMANN, INC. 2hit~^ * j~hee' * Pcape4 Le Ma Zeu gdk S%4ee~z /cce~i t * HZde Pntiu I ii PS~~~~~~~~~~~~~~"~~ Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port Area iy o M i I City of Manila totall u August transfers improved considerably over the June and July totals altho lower than in July of last year (P1,653,062). The August figures during the past ten years show five considerably smaller than that of last month. August strongmaterial conlstruction in the ed P296,530 as comin July. Sales City of Manila 1941 July August P113,528 P 199,865 256,707 270,808 96,413 206,001 6,600 293,509 73,759 1,762 12,237 76,010 134,284 73,494 31,190 55,220 52,251 29,291 40,086 157,180 16,032 28,896 80,000 3,461 9,600 pared with P591,120 i Sta. Cruz........ Sampaloc......... Tondo............ Binondo.......... San Nicolas....... Ermita........... M alate............ Paco.............. Sta. Ana.......... Quiapo........... San Miguel....... Sta. Mesa......... Pandacan......... P982,796 P1,335,382 L i. 34 The American Chamber of Commerce Journal October, 1941

COMPARATIVE VALUES OF PRINCIPAL GROUPS OF EXPORTS DURING AUGUST 1941 WITH JULY 1941 AND AUGUST 1940 COMPARATIVE VALUES OF PRINCIPAL GROUPS OF IMPORTS DURING AUGUST 1941 WITH JULY 1941 AND AUGUST 1940 Article Group 1941 August July (Pesos) (Pesos) TOTAL EXPORTS.......... Minerals and metals, total....... Coconuts, coconut oil, copra and other coconut products, total Sugar and related products, total Fibers and manufactures, total Tobacco and manufactures, total Cotton, textiles, embroideries, and miscellaneous fiber products, total......................... Fruits and preparations, total... Iogs, timber and lumber, total Animal products, inedible, total Wood, bamboo, reed and rattan manufactures, total........... Miscellaneous, total.............. Gums and resins, total........... Rubber and manufactures, total. Fish and fish products, total..... Grains and preparations, total... Beverages, wines and liquors, total Nuts, total....................... Soap and toilet preparations, total Herbs, leaves, and roots, crude, total........................... Seeds, total...................... Oils other than coconut, total.... Meat products, total............. Chemicals, total................. Medicinal and pharmaceutical preparations, total................ Animals, edible, total............ Vegetable and preparations, total Misc. plant products., total........ Other animals and animal products......................... Re-exports, total................ 35,221,297 10,016,845 7,580,330 6,563,717 5,697,469 1,005,532 931,194 875,235 869,722 98,880 86,279 71,136 68,078 59,507 47,800 36,974 33,608 21,436 18,098 12,384 6,945 5,327 2,352 1,550 1,480 1,077 590 48 1,107,704 28,615.358 10,821,147 6,777,360 1,830,592 3,693,986 678,020 1,004,608 975,072 1,290,101 18,619 49,258 85,415 43,276 59,699 92,821 3 32,740 48,705 49,244 5,580 11 1,902 2,926 194 1,330 770 1,187 1 9 4 0 August (Pesos) 23,568,072 6,910,276 3,596,954 7,372,490 1,933,010 639,620 879,280 395,356 507,573 39,608 40,542 54,876 46,496 125,405 40,568 8,413 41,248 72,489 15,029 332 1,430 47,445 7,367 1,185 114 1941 | 1940., Per co incre ov Aug., ent ase er 1940 49.4 45.0 110.7 11.0 194.7 57.2 5.9 121.4 71.3 149.6 112.8 29.6 46.4 52.5 17.8 339.5 18.5 70.4 20.4 (2) 272.5 96.7 79.9 9.1 57.9 40.0 TOTAL IMPORTS........... Metals and manufactures........ Textiles, fibers and manufactures of Non-metallic minerals............ Grains and preparations.......... Tobacco and manufactures....... Papers and manufactures........ Explosives, fireworks and ammunitions........................ Fertilizers and fertilizer materials Dairy products................... Chemicals, drugs, dyes and medicines....................... Rubber and manufactures........ Miscellaneous................... Vegetables and vegetable preparations......................... Animal products, inedible........ Cocoa, coffee, tea................ Fruits and fruit preparations.... Soap and toilet preparations..... Meat products................... Pigments, paints and varnishes.. Gums, resins, oils............... Sugar, molasses and syrups...... Beverages, wines and liquors.... Fish and fish products........... Roots, herbs, barks, etc........... Wood and manufactures of...... Vegetables oils and fats, edible Other inedible animal products Miscellaneous vegetable products Other edible animal products.... Spices........................... Seeds (except oil seeds) and nursery stock................. Animals......................... Nuts and nut preparations...... Animal oils and fats............ Manufactures of straw, rushes and palm leaves.............. Cork and manufactures......... Article Group August (Pesos) 26,785,464 6,886,800 4,604,606 4,181,310 2,755,760 1,302,768 1,090,368 1,002,582 862,628 809,216 648,668 622,308 627,960 376,592 357,704 339,138 238,062 227,464 198,356 189,176 120,610 98,926 84,376 55,302 47,652 40,296 37,530 18,676 17,866 10,416 9,882 8,706 3,918 3,326 2,450 2,252 1,944 July (Pesos) 34,009,434 7,099,234 7,061,274 6,381,668 2,126,448 1,869,264 1,785,744 557,110 4,286 1,448,314 1,414,168 1,074,864 733,678 413,310 373,178 466,854 212,616 296,622 243,630 293,630 135,400 146,896 228,592 198,868 173,440 82,098 29,526 46,582 48,142 27,712 12,634 11,306 1,456 10,206 3,426 1,954 6,414 August (Pesos) 24,459,676 6,862,926 4,611,392 2,236,810 1,604,008 1,839,420 1,292,474 686,616 1,044,476 668,274 842,870 632,866 609,866 318,900 326,160 200,476 173,454 179,552 166,884 183,628 82,900 78,962 164,532 74,302 36,384 121,104 91,314 10,618 42,608 44,384 3,180 6,236 23,538 622 3,052 3,060 4,938 Per cent increase over Aug., 1940 9.6 - 14.2 2.1 87.0 83.2 - 2.7 - 15.6 46.2 - 17.4 21.1 - 23.0 16.8 - 13.4 18.1 9.7 69.2 37.2 26.7 26.4 3.1 45.5 25.8 - 48.7 - 26.6 84.7 - 66.7 - 58.9 75.9 - 58.1 - 76.6 210.8 39.6 - 83.4 434.7 - 19.7 - 26.4 - 60.6 150 1,050,642 790,966 A minus sign (-) indicates a decrease. (2) Over 1000 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: AUGUST AND JULY, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) August July Per cent - increase Nationality of carrying vessel Value Per cent Value July to (Pesos) Of (Pesos) August total TOTAL EXPORTS.......... 35,221,297 100.0 28,615,358 23.1 American........................ 10,342,740 29.4 13,868,084 25.4 Mail............................. 8,433,511 23.9 7,158,615 17.8 Philippine....................... 6,489,959 18.4 938,610 591.4 Norwegian....................... 5,574,359 15.8 3,940,511 41.5 Panamanian...................... 2,318,748 6.6 699,980 231.3 Japanese......................... 499,562 1.4 653,883 - 30.9 French........................... 479,588 1.4 197,796 142.5 Dutch............................ 470,863 1.3 390,128 - 20.7 Danish........................... 250,375 0.7 (2) British........................... 237,478 0.7 523,919 - 54.7 Swedish.......................... 122,733 0.3 239,863 - 48.8 Aircraft.......................... 1,381 (1) 3,969 - 65.2 A minus sign (-) indicates a decrease. A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. (2) More than 1000 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: AUGUST AND JULY, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) August July Per cent Nationality of carrying vessel Value Per cent Value July i (Pesos) of (Pesos) August total TOTAL IMPORTS........... 26,785,464 100.0 34,009,434 - 21.2 American....................... 13,194,880 48.3 15,043,062 - 12.3 Norwegian...................... 6,413,804 23.9 7,587,382 -- 15.5 Philippine....................... 2,262,884 8.4 5,570,582 - 59.4 Dutch........................... 1,505,538 5.6 1,773,720 - 15.1 Panamanian..................... 950,956 3.6 902,174 5.4 British........................... 863,398 3.2 1,015,120 - 14.9 Mail............................. 651,692 2.4 606,204 7.5 Swedish.......................... 514,474 1.9 (2) Japanese......................... 251,596 0.9 1,340,604 - 81.2 French........................... 155,656 0.6 141,820 9.8 Aircraft......................... 20,586 0.1 28,766 - 28.4 A minus sign (-) indicates a decrease. (2) Over 1000 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: AUGUST AND JULY, 1941 August July Per cent Port of entry Value Per cent Value July to total (Pesos) total (Pesos) August TOTAL IMPORTS.......... 26,785,464 100.0 34,009,434 - 21.2 Manila........................ 24,846,226 92.8 30,881,550 - 19.5 Cebu............................. 1,405,894 5.2 1,823,712 - 22.9 Iloilo............................ 371,064 1.4 672,208 - 35.2 Davao........................... 106,798 0.4 90,190 18.4 Legaspi.......................... 2,452 (1) 85,164 -97.1 Jolo............................. 6,560 (1) 24,986 - 73.7 Zamboanga...................... 46,428 0.2 52,650 - 11.8 Jose Pafganiban................. 2 (1) 478,954 -100.0 Aparri........................... 40 (1) 20 100.0 A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF DEPARTURE: AUGUST AND JULY, 1941 August July Per cent Per cent increase Port of departure Value of Value July to (Pesos) total (Pesos) August TOTAL EXPORTS.......... 35,221,297 100.0 28,615,358 23.1 Manila........................... 22,624,435 64.2 17,389,736 30.1 Cebu............................. 5,313,792 15.1 5,684,241 - 6.5 Iloilo............................. 3,320,822 9.4 895,087 271.0 Davao........................... 2,835,824 8.1 2,210,134 28.3 Legaspi.......................... 248,337 0.7 134,202 85.0 Jolo............................. 2,501 (1) 4,164 - 39.9 Zamboanga...................... 403,448 1.1 822,362 - 50.9 Jose Pafiganiban................. 472,138 1.3 1,475,432 - 68.0 A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. The American Chamber of Commerce Journal October, 1941 35

RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for five weeks ending August 23, 1941, as compared with the same period in 1940, are given at right. The volume of commodities received in Manila during the months of May, June, July and August, 1941, via the Manila Railroad Company is as follows: FREIGHT REVENUE CAR LOADING I -1 — -- I I COMMODITIES Rice................. Palay................ Sugar................ Sugar Cane.......... Copra................ Coconuts............. Molasses............. Hemp................ Tobacco.............. Livestock............ Mineral Products.... Lumber and Timber. Other Forest Products Manufactures........ All Others including L.C.L............ NUMBER OF FREIGHT FREIGHT CARS TONNAGE 1941 1940 1941 1940 990 784 18,360 10,878 39 63 568 1,025 314 373 9,387 11,721 1,020 923 11,500 9,060 375 88 5,185 874 17 2 191 15 31 17 372 127 71 26 774 240 271 435 4,180 4,147 544 399 12,559 10,281 5 - 50 - 371 264 5,828 5,277 3,181 3,174 32,418 28,472 Increase or Decrease Cars Tonn ge 206 7,82 ( 24) ( 4-.7) ( 59) (2,334) 97 2,440 287 4,311 15 176 14 245 45 5:4 (164) 33 145 2,278 5 O0 107 551 7 3,946 COMMODITIES MAY JUNE JULY AUGUST Rice, cavanes..........,14....... 140,15 123,382 206,970 191,14 Sugar, piculs.................... 48,753 126,624 64,299 335,184 Copra, piculs.................... 178,108 128,744 186,347 226,606 Desiccated Coconuts, cases........ 85,078 99,664 74,828 82,1 Tobacco, bales................781 1,170 3049 4 Lumber, board feet............. 2,898,630 3,823,493 3,285,188 5,828,791 Timber, kilos.............734000 1,707000 636 2,413,0001. 170,00 163,,002,13_0 TOTAL...........- 7,229 I 6,548J 101,372 82,117 I 681 19,255 SUMMARY Week ending July 26, 1,441 1,369 19,518 15,950 72 3,568 t" " Aug. 2, 1,474 1,342 20,503 16,521 132 3,982.". " 9, 1,476 1,193 20,328 13,844 283 6,484....." 16, 1,437 1,324 20,732 18,550 113 2,182 " " " 23, 1,401 1,320 20,291 17,252 81 3,039 TOTAL....... 7,229 6,518 101,372 82,117 681 19,25 NOTE-Figures in parenthesis indicate decrease. Foreign Exchange Review (August 24 to September 23, 1941) By J. Rapoport The period under review was featured by extremely quiet conditions on the exchange market with dollar peso rate remaining unchanged around 5/16 and 3/8 % premium. Merchants' business continued I a i rly brisk though t h e r e were very few sugar bills offered. How ever, exchange cover was available thru export bills drawn against various strategic materials sent to the United States. The market opened with sellers of ready dollars at 378% pr., buyers at 5/16% and small interbank sales being booked at 5/16%. Dollars for future deliveryNovember, December, were offered at 3/8 % pr. but these found no interest on the part of the buyers, except for an occasional change-over booked at 1/16% difference for two and three months. Throughout the month of September rates continued unchanged, with buyers at 5/16%o becoming more numerous. Sellers, however, were holding off for 3/8%c with the result that only small interbank business was closed. There appeared some demand for ready cash, possibly on account of anticipated heavy requirements for dividend payments and several banks resorted to changeovers. The latter were closed at 1/16% difference for two and three months and 1/8%/ difference for four and nve months, which works out at around 3/8% per annum. Merchants' T. T. rates were 1/2% pr. for selling-1/4 % pr. for buying, and 60 day sight bills 3/8% discount. The Stock Markets Continued from page 19 to suggest that either average is at present in any danger of testilg these latter levels. If, on the other hand, the averages should jointly resume their rise and better 130.06 and 30.88 with an increase in activity the implications would be favorable, and would suggest the likelihood of the Industrials going on to penetrate 138.12 and so establish a Bull market. BUSINESS AND PROFESSIONAL DIRECTORY I CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. O. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrey-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships U Investments Collections Income Tax 560 Taft Avenue Manila, P. I. I I 36 The American Chamher of Commerce Journal October, 1941

THE AM RIC N fA5 MERCE r T I'' / A L, I 4 -i w.1 r. 4 ' --- L. I I,,,~ ~~ ' I V 3 3, i ' 'I: I MANI LAf P H I LI PPI NE S XI t. x1of. I, N' 0 - I I x x;. N O. H >$ O~~~iN U 1.I( 190 35 (A K NIA\ ( 3 5 C, 1:1 N'l - A N C'

0I...and next month brings CHRISTMAS Not too soon to think about practical gifts now. GolIen Wllea ing Consider These Gift Features Modern Beauty Conveniences Adaptability Economy plus a 10-YEAR Guarantee I Here's to your greater enjoyment! A grand drink that brings you new delight because it's different. Made with Schenley's Golden Wedding - the finest American Whiskey. Ask for it anywhere! Sole Agents: H-, /B I- _-^^^K^^^^^uE^ THE MANILA MERCHANTS, WINE INC. largest Wholesale and Retail liquor Dealers in the 1'. 1. Head Office 174 Juan Luna Tels. 4-90-57-4-90-58 Retail Branch Office 37-39 Calle Alhambra Tel. 2-17-61 MANILA GAS CORPORATION I 0 ~ ~ ~ M p I r~~~~~~~~~

M THE AMERICAN CHAMBER OF COMMERCE JOURNAL Vol. XXI, No. 11 November, 1941 Derham Building Port Area MANILA P. 0. Box 591 TeL 2-24-21 Heavy Trucking Contractors Warehousemen LUZON BROKERAGE CO., INC. - m Table of Contents Licensed Customs Brokers Foreign Freights Forwarders Page Officials of the Department of the Interior.......................... Walter Robb Goes on Vacation...... More Wings for Manila............ Recent Trends in Philippine Foreign Trade, by H. Jacoby............ Facts-Plain and Fancy........... Editorials: Mining and Aviation........... The Government as Buyer...... Free Speech................... Antipolo Mining Company-Manila's Nearest Gold Producer........ Lesser Known Ores in the Philippines. The Stock Markets................ The Mining Industry-Tabulated Statistics........................... Movements of Mining Men......... Gold: Master or Servant?, by W. Adams Brown, Jr........... What About Silk?.................. The Civilian Conservation Corps and National Defense................ 5 6 7 8 9 10 11 11 15 17 19 20 21 23 29 30 I i 1- ME M Reviews: Sugar Market.................. 31 Copra and Its Products........ 32 Rice.......................... 33 Tobacco....................... 34 Manila Hemp.................. 34 Real Estate.................... 34 Rail Commodity Movements..... 36 Foreign Exchange............. 36 Imports and Exports Statistics: Comparative Values of Groups of Exports During Sept. 1941 with Aug. 1941 and Sept. 1940...... 35 Total Export Trade of the Philippines by Nationality of Carrying Vessels: Sept. and Aug. 1941. 35 Total Export Trade of the Philippines by Port of Departure: Sept. and Aug. 1941............ 35 Comparative Values of Principal Groups of Imports During Stept. 1941 and Aug. 1941 and Sept. 1940 35 Total Import Trade of the Philippines by Nationality of Carrying Vessel: Sept. and Aug. 1941 35 Total Import Trade of the Philippines by Port of Entry: Sept. and Aug. 1941..................... 35 The next time you light a match.. stop and think of the havoc a tiny flame could cause if it got beyond control! It could destroy your house and everything in it. Some things you could replace, but others-never. Take no chances with fire. Keep your valuables in a safe deposit box. Rates are very low. PEOPLES BANK AND TRUST COMPANY 605 DASMARIRAS MANILA BRANCHES: San Pablo, Laguna Baguio, Mountain Prov. San Fernando, Pamp. Tarlac, Tarlac I, M The American Chamber of Commerce Journal November, 1941 3

IL KLEIN Electrician's Pliers and Linemen's Equipment REPRESENTING THE HIGHEST STANDARD IN THE FIELD E. VIEGELMANN 460 Dasmarifias Manila, P. I. Tel. 2-26-64 =11 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 0 Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. 0 Subscriptions P4 a year - Foreign P6 I -- A grand drink any time: Genuine Manila Long Filler Cigars in cellophane are obtainable in your city or nearby! Here's how to get Manilas! I List of D i stributors furnished upon request to I $ian;liluel 9aIe 9iosen The Best of Good Beers Since 1890 PHILIPPINE TOBACCO AGENCY 2362 Massachusetts Avenue N. W., Washington, D. C. or COLLECTOR OF INTERNAL REVENUE Manila, P. I. MANILAS made under sanitary conditions will satisfy your taste! (Health Bulletin No. 28) Rules and Regulations for the Sanitary Control of the Factories of Tobacco Products "Section 15. Insanitary Acts.-No person engaged in the handling, preparation, processing, manufacture, or packing of tobacco products or supervising such employment, shall perform, cause, permit, or suffer to be permitted, any insanitary act during such employment, nor shall any such persons 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 moistening agent;..". - -- -- - 4 The Ameirican Chanber of Commerce Journal November, 1941 (

Officials of the Department of the Interior the oldest department in the government Their chief duties are the preservation of law and order and the supervision of the provincial and municipal administrations Hon. Francisco Zulueta Secretary of the Interior Hon. Arsenio Bonifaco Undersecretary of the Interior Judge Teofisto Guingona Commissioner for Mindanao and Sulu Dr. Bienvenido Gonzales Chairman, Board of Review for Moving Pictures Brig. Gen. Guillermo Francisco Chief of the Philippine Constabulary Dr. Marciano Roque Delegate and Administrative Officer Gov. Ciriaco Raval Assistant Commissioner for Mindanao and Sulu Col. Telesforo Martinez Assistant Chief, Philippine Constabulary Dr. Rufino Luna Vice Chairman, Board of Review for Moving Pictures

Walter Robb Goes On Vacation How often is a man entitled to a vacation? At least once every twenty years was Walter Robb's sudden decision one morning not long ago. And he forthwith went down and engaged steamer passage. The board of directors of the American Chamber of Commerce agreed with Walter's conclusion, and so a few days later he and Mrs. Robb sailed away on the Doiina Aniceta. His departure was so unexpected (even to himself) that his many friends of all nationalities were thwarted in their natural desire to give expression in the customary ways to their respect and afiection for him. The many letters that were received in his office during the few days preceding and following his departure were eloquent testimony of the unique position held by Walter Robb in this community, and throughout the Philippines. U. S. High Commissioner Sayre expressed the general sentiment when he wrote, "You have made for yourself a very real place in the Community of Manila; everyone speaks of you with regard and affection. We shall all miss you." Walter Robb's first signed article for the Journal appeared in the March, 1924 issue. The title was "American Sovereignty and Trade Development in the Philippines." In June of that year he became the edi tor, which position he has held continuously ever since. This means that he has been responsible for the editing and publishing of more than 200 numbers of the Journal, each one of which has born the clear imprint of his deep understanding of the many vexatious problems that plague the peoples of the world today and his unswerving devotion to the principles of democracy as their only possible solution. His leave of absence is for six months. We shall miss him of course and shall be more than glad to see him back at his battle-scarred old roll-top desk. In the meantime he carries the best wishes of all for the kind of a vacation that he desires, and deserves. IL I ATTENTION! Sailing schedules not available. Don't be embarrassed by having your Christmas greetings arrive in the middle of January. CHOICE SELECTIONS of PHILIPPINE VIEW Christmas Cards on display now. Buy and address your cards as soon as possible. A PHILIPPINE EDUCATION CO., INC. 101 ESCOLTA MANILA THE AMERICAN CHAMBER OF COMMERCE JOURNAL P. 0. BOX 1638, MANILA Every number contains searching suggestions criticised before being printed, helpful to the Commonwealth's economy. Subscriptions P4 a year - Foreign P6 il 6 The American Chamber of Commerce Journal November, 1f941

More Wings For Manila Pan American Airways Enters Seventh Year of Service in the Orient by Inaugurating Important Extensions. The Hong Kong Clipper takes off on her first scheduled flight from Manila to Hong Kong. power plant consists of four engines which develop 800 horse power each, a total of 3,200 horse power-sufficient to give her a comfortable cruising speed of 150 miles per hour. She carries a crew of six, and has ample accommodations for 25 passengers. Her schedule calls for two roundtrips per week to Hong Kong, thus providing the public with 50 seats each way per week. With an eye on the "commuting" trade between Manila and Hong Kong, her owners have established a round-trip fare of P158. The ticket is good for 30 days, which gives the traveller ample time for a run up to Chungking or to some other part of the continent of Asia before returning to the quiet of these "blessed isles." With the Hong Kong Clipper on this regular twice-a-week schedule to Hong Kong, the large trans-Pacific Boeings and Martins are left free to include Singapore in their regular runs, thus providing Manila with an important and much-needed air-link with that city. Under normal conditions, that means one round trip per week between Manila and Singapore. It has often been noted that trade [Continued on page 27] On October 18th, the Hong Kong Clipper flew from Manila to Hong Kong with 19 passengers aboard. The next day she flew back to Manila, carrying 20 passengers. Not much of a story in that-we have become so accustomed to clippers flying to Hong Kong, and returning the next day. But this particular trip, prosaic though its accomplishment might be, held special significance. It marked the beginning of a new and important air service, and thus emphasized Manila's growing position as the "Hub of the Orient" as some of our more rhapsodic friends phrase it. Since this clipper is to be based here, Manila has now become the permanent home for a trans-oceanic clipper,-one of the great winged carriers of the air that have made of minor importance those tremendous distances that through the ages have been both a challenge to and the despair of man's adventurous spirit. That this important event should almost coincide with the sixth anniversary of Pan American's inaugural flight to the Orient is no doubt accidental, but none the less worthy of note by us who have benefitted the most from clipper service. A few days before October 18th, there had arrived from America almost unheralded and entirely unnamed, a flying boat listed anonymously as a "Sikorsky S-42B." With the same nonchalance with which Meralco puts a new bus on the run to Pandacan, Pan American sent the Sikorsky on her first scheduled flight over the choppy China Sea. Her owners did, however, first give her a name-Hong Kong Clipper-and thereby a personality of her own. This latest addition to the fleet of clippers serving the Orient is not of the sensational type. She does not make us gasp because of her size, or her speed, or her power, though the story would have been different even 7 short years ago. She is slightly smaller than the China Clipper, her gross weight being 21 tons. She is 68 feet long and has a wing spread of 118 feet and 2 inches. Her 19 passengers and 6 crew-members I made the first flight on October| The American Chamber of Commerce Journal November, 194 1 7

Recent Trends In Philippine Foreign Trade By H. Jacoby Recent months have witnessed the publication of an unusual amount of statistical information of great value. First came the Census of 1939 with its vast amount of economic and business information; next, the new monthly Journal of Philippine Statistics, the first issue of which appeared in July of this year; and finally there appeared the splendid "Yearbook of Philippine Statistics," representing an attempt on the part o-i the Bureau of Census and Statistics to furnish the public with important classified statistical information regarding the Philippines. The statistics given us by these media enable us to develop a picture of Philippine trade during these last few years that is interesting in itself and that should help us in our constant attempts to gaze into the future. That the general structure and nature of Philippine trade will be subjected to important changes in the next few years is recognized by every one. The exact nature of the changes to come is however still hidden from view. An examination of the recent trends in that trade may serve to give us at least a hint of what to expect in the future. First, let us take a look at the trade figures for the last eight years. These were the years of slow rearmament in the United States. The following table indicates the typical character of this period. constituted 61 %o, and imports 38 % of the total trade. In an almost uninterrupted development, the ratio of exports has decreased and the ratio of imports increased until in 1940 exports accounted for 52%0 and imports for 46% of the total. Even the record export year, 1937, does rot change this picture entirely. Exports in that year did account for 60%o of the total trade, but this is still a bit short of the figure for 1933. This development demonstrates very clearly the increasing importance of the Philippines as an importer and consumer. Table II illustrates clearly a more recent trend in the foreign trade of the Philippines, a consequence no clearly seen by business men both here and abroad at the beginning of this year, had its effect during the early months. When export control was actually instituted, its influence was at once apparent. While in May, 1941, exports amounted to P35,099,000, during the following month they declined to P27,456,000, approximately the same as during the same month in the preceding year. During July, there was no material increase in the amount of exports, over June. But in August, there was a particularly strong increase, the figure being little below that for May, which was the record export month for this year. 91.6 per cent of the August export went to the TABLE II for the Years 1939, 1940, and Jan.-Aug., 19.41 Philippine Trade Figures Year: 1939 1940 1940 Jan.-June 1941 Jan.-June 1941 June 1941 July 1941 August Exports: (Pesos) 313,580,000 305,320,000 155,872,000 170,554,000 27,456,000 27,565,000 34,114,000 Re-exports: (Pesos) 2,200,000 6,529,000 I,729,000 7,200,000 783,000 1,051,000 1,108,000 I Imports: (Pesos) 245,130,000 269,463,000 143,337,000 135,902,000 27,357,000 34,009,000 26,785,000 Total Trade: (Pesos) 560,914,000 581,312,000 300,938,000 313,656,000 55,596,000 62,625,000 62,007,000 I I Total Value of the TABLE I Export and Import Trade of the Philippines 1933-1940 Exports: Re-exports: Imports: Total Trade: (r:Pesos) (Pesos) (Pesos) (Pesos) 1940 305,320,000 6,529,000 269,463,000 581,312,000 1939 313,580,000 2,204,000 245,130,000 560,914,000 1938 291,130,000 2,872,000 265,235,000 559,237,000 1937 331,483,000 2,438,000 218,069,000 551,991,000 1936 293,583,000 1,771,000 202,258,000 497,612,000 1935 201,693,000 2,159,000 171,070,000 374,922,000 1934 230,598,000 1,878,000 167,230,000 399,706,000 1933 219,700,000 1,543,000 134,734,000 355,977,000 United States to help meet the growing need for raw materials in America. On the other hand, the import figures-as a consequence of war conditiors no doubt-show a decreasing tendency during recent months. July, 1941 was a record import month but this was caused to a large extent by emergency imports. Exports during the first six months of 1941 were 12.8% greater than during the same period last year. Imports for those two periods show a decline this year of 5.27%. During the first six months of 1941 Philiprine trade had a consistently healthy balance, amounting to a total of P41,852,000. July, 1941 does not show a similarly favorable picture. Although exports were 1.37% higher than those of the previous month, and 16.4% higher than those of July, [Continued on page 12] While these figures show the general increase in "total trade" (which resulted from increasing trends in both "exports" and "imports"), closer examination of the figures discloses a changed character that is of particular interest. In 1933, exports doubt of war conditions. Exports are increasing, especially re-exports, while imports (with the exception of July, 1941) show a decreasing tendency. Various reasons are given for the increase in exports. Probably the impending export control, 8 The American Chamber of Commerce Journal November, 1941 (

Facts -Plain And Fancy An annotated list of available reference books on the Philippines. Introduction:-The modern man needs facts. He has to have them in his business, in his profession, and for the satisfaction of that insatiable curiosity that his modern education has given him. The purpose of this annotated list is to provide a convenient guide for the man who wants or needs facts about the Philippines. It is indeed amazing, the amount of factual material that has been published on the Philippines. It is just as amazing that most of this material cannot be found by the average or casual searcher without the expenditure of an inordinate amount of time and energy. It is hoped that this list will prove a useful saver of such time and energy. Census Reports Of 1939.' Here is the great grandfather of all sources of factual materials regarding this country. That is, in size it is the great grandfather. In age it is the baby of the lot, as its volumes are just coming off the presses now. One quickly notes from the catalogue of the Bureau of Printing that it is in 5 volumes. This is a bit mis-leading, as Volume I is itself made up of 4 distinct and very large books. The complete census can be bought for P18. But if you insist on full cloth binding, it will cost you P27. Volume I-Census of Population by Provinces Each province is treated separately, and in its proper alphabetic order. First, there is an outline map of the province, showing the boundaries of municipalities and location of barrios. Then come 32 tables of facts regarding the people of that province. Table 1 gives the population of each municipality by barrios. Table 32 classifies the families in each municipality by the kind of lighting they use, and the source of their water supply. In between, are tables that classify the people in each municipality by race, by sex, by ability to speak Tagalog, English, and Spanish, by religion and newspaper and magazine reading habits, etc., etc. Each book, or part, of this volume has an index of subjects by provinces, which is a great help to the person seeking specific information about the people of a specific locality. Volume II-Summary for the Philippines and General Report for the Censuses of Population and Agriculture A 38 page introduction gives complete information about the census itself. Then comes Part 1, which deals with "Population" in 892 pages, divided into 14 chapters. The 14 chapters cover such subjects as the distribution and growth of population, sex and age distribution, literacy, religion, race, occupation, wages, radios owned, kinds of houses people live in, etc., etc. The information is given by provinces and by means of charts and tables. Each chapter has a table of contents. Part 2 deals with "Agriculture" in 859 pages, divided into 6 chapters. Detailed information is given by provinces regarding farm areas, land tenure, types of farms, livestock, crops, fruits, and nuts. Each chapter has a table of contents and gives its information by means of charts and tables. At the back of this volume (the 2 parts are bound in one volume) is a useful index in 8 pages. Volume Ill —Reports by Provinces for the Census of Agriculture This is a complete and thorough analysis of the agriculture of the Philippines, by localities and by produce. Each province is dealt with separately. First comes an outline map of the province. Then come the tables, page after page. The number of tables for each province seems to depend on the variety of its agricultural products. Abra has 64 tables; Agusan 42 tables; Albay 51 tables; Iloilo 48 tables. There is an index for each province, and at the back of the volume is a general index of the reports by provinces. The volume has' 1,816 pages (bound in one book). Volume IV-Statistics and Reports for the Censuses of Forestry, Mines, Transportation, Electric Light and Power, Manufactures, Commerce, Professions, Fisheries, and Climatology Not published at this writing. Volume V-Census Atlas of the Philippines This is more of an atlas than you can usually buy for P4. The size of the volume is 131/2 inches by 181/~, inches. However, the maps are printed on two pages, giving each map a size of 171/2 inches by 22 inches. There are 24 large sectional maps of the Philippines printed in color. These maps start with Batanes and end with Palawan. The scale is uniform, being 1:500,000. This results in what seems to be a disproportionate emphasis to various sections of the country (Cebu and Bohol are on Map No. 12, while Palawan occupies Maps Nos. 22, 23, 24), but the cartographers cannot be blamed for that. Map No. 25 is a map of the Commonwealth of the Philippines. These first 25 maps are followed by 2 population maps, 4 climate and weather maps, and 4 economic maps, several pages of them. Then comes a section called "History of Philippine Cartography," which contains reproductions of some of the famous maps of the Philippines. This section starts with 5 of the earliest charts of the Philippines by Pigafetta, companion of Magellan. Pigafetta couldn't be expected to know very much about the newly discovered land, and he didn't, as his charts show. Then follow reproductions of maps made in 1654, 1659, 1734, 1762, and 1792. The map of 1762 is of Manila and Cavlte only. It was made by W. Nichelson during the British occupation. The balance of the Atlas (which is 95 pages long) is taken up with lists of municipalities by provinces and lists of the islands and of the lakes of the Philippines. The area of every municipality, island, and lake in the country is given here. Out of the 7,100 islands listed, 2,773 have names. The named ones are listed alphabetically, from Abanay to Zoe. How To Buy:-The census volumes can be ordered from the Bureau of Printing, Port Area, Manila. The four parts of Volume I, Volume II, and Volume III cost P2.00 each if bound with pressboard sides, and P3.00 each if bound in fabrikoid. Postage is 50 centavos each, extra. The Atlas volume costs P4.00 and P6.00 in the two types of binding. Postage is the same. Yearbook Of Philippine Statistics: 1940 Gathered together in the 482 pages of this volume are up-to-date statis[Continued on page 13] The American Chalber of Commerce Journal Novcw ober, 1941 9

Published monthly in Manila, Philippines P. 0. Box 1638 Tel. 2-11-26 The American Chamber of Commerce Wa of the Philippines, Publishers Robert S. Hendry, Acting Editor & Manager alter Robb, Editor (On Leave) Entered as second class matter May 25, 1921, at the Post Office at Manila, P. I. Subscription rates: One year in the Philippines and United States, P4.00; Foreign, $3.00 U. S. currency. American Chamber of Commerce of the Philippines DIRECTORS: S. F. Gaches, President E. D. Gundelfinger, Vice-Pres. Robert E. Cecil, Treasurer P. A. Meyer J. L. Headington J. C. Rockwell N. H. Duckworth 1-I. Dean IHellis C. G. Clifford, Secretary A LTERNATE DIRECTORS C. M. Hoskins G. M. Ivory E. Byron Ford A. P. Ames COMMITTEES: EXECUTIVE COMMITTEE Samuel F. Gaches, President E. D. Oundelfinger, Vice-President Robert E. Cecil, Treasurer FINANCE COMMITTEE J. L. Headington, Chairman E. Byron Ford Robert E. Cecil LIBRARIAN S. A. Warner RELIEF COMMITTEE Geo. L. Rickard, Chairman E. C. Ross A. M. Easthagen LEGISLATIVE COMMITTEE C. M. Hoskins, Chairman Horace B. Pond Benjamin S. Ohnick J. H. Alley A. J. Gibbs 1. A. Perlins E. Byron Ford E. E. Selph BANKING & INVESTMENT COMMITTEE H. J. Belden, Chairman A. D. Calhoun E. E. Wing E. Byron Ford J. W. McFerran ENTERTAINMENT COMMITTEE E. D. Gundelfinger, Chairman H. M. Levine E. G. Hoffman W. P. Lane L. E. Moote J. C. Rockwell H. L. Suarez PUBLICITY, PUBLICATION AND ADVERTISING COMMITTEE P. A. Meyer, Chairman C. G. Clifford J. L. Headington SHIPPING COMMITTEE W. T. Goodwin, Chairman F. H. Myers T. O. Myers C. V. Morton L. G. Hubele FOREIGN TRADE COMMITTEE N. H. Duckworth, Chairman E. Bradley Fairchild J. Traynor J. P. Liggett J. A. Meacher E. C. Anderson T. L. Hall CORDAGE & FIBER COMMITTEE H. P. Strickler, Chairman N. H. Duckworth J. D. Conrad COCONUT PRODUCTS COMMITTEE H. Dean Hellis, Chairman J. H. Alley G. T. Herrmann M. Igual M. S. Kestler MANUFACTURING COMMITTEE G. M. Ivory, Chairman (Desiccated Coconut) G. T. Herrmann (Desiccated Coconut) Herbert S. Frieder (Tobacco) E. E. S. Kephart (Steel-Metal) H. P. Strickler (Cordage) F. H. Hale (Shoes-Leather-Rattan) S. M. Jones (Sugar) J. L. Headington (Buttons) Reuben Margulies (Embroideries) M. S. Kestler (Coconut Oil) C. A. Fossum (Lumber) MEMBERSHIP COMMITTEE H. J. Belden, Chairman William Burrell F. M. Satterfield T. R. Worthen E. S. Turner G. H. Bissinger R. N. Miller S. M. Jones C. L. Larsen F. A. McCarthy R. S. Rogers S. S. Schier J. L. Morgan B. H. Silen.. P. McPherson H. J. Heesch M. S. Kestler R. L. Reynolds F. H. Myers F. C. Bailey G. M. Ivory W. J. Bunnell H. Dean Helli T. Kevin Mallen A. P. Ames LI. M. Hausman H. L. Suarez mining industry expanded and new districts in various sections of the archipelago were opened up by mining men, rapid and safe transportation was needed. The commercial aviation companies, headed by far-seeing executives, accepted the challenge issued by the miners and extended their airlines to every section of the Philippines. Today, it is possible to fly to any mining locality in the Islands, and as a result, air transportation facilities have reduced trips throughout the Philippines from days to hours. In the mining industry, this saving of time in transport means the saving of thousands of pesos. For instance, a mill in the Surigao mining district has a damaged piece of equipment which needs speedy replacement. A wire to Manila suppliers will make this particular piece of equipment available almost immediately. Before the days of aviation, it would have taken at least a week to get this equipment to Surigao. Now it can be delivered by air within a comparatively few hours. The cost of air transportation is a small item in the transaction compared to the loss entailed by a suspension of operation. When it is realized that daily operating results from each mining property throughout the Philippines means the production of P5,000 to P30,000 worth of gold or base metals-a delay of one week in getting necessary parts means the loss of a large amount of money. And it must be remembered that this loss of time in operations cannot be made up, as most mines are now running on a 24-hour basis. Some promising mining discoveries reported in the Philippines during the past 10 years would have remained as promising only if it were not for the facilities established by local commercial aviation concerns. The opening of an entirely new gold district two years ago was made possible by air transport. This district could not have been developed without the expenditure of hundreds of thousands of pesos for road construction. However, due to the fact that all mine and mill equipment and supplies were transported to the property by airplane, the mine was brought into production years sooner and with less initial investment than would have been possible even if a road could have been built. Aerial photography has also been a great boon to the mining man in the Philippines. An aerial survey of a district can be made in a matter of a few hours. The results of this survey can then be studied by a mining geologist and a plan to explore and prospect the area made up from the report rendered by the geologist. In this manner, mineralized sections of the Philippines have actually been discovered and mapped from the air. Subsequently, regular prospecting parties have been sent to promising localities in order to explore possible mineral deposits. In these particular instances, months of hard and expensive preliminary exploratory work have been saved the mining companies by the use of aerial photography. It is, therefore, evident that aviation has played a prominent part in the development of the mining industry in the Philippines; and, the mining industry on the other hand, by its need of rapid transportation, has made it possible for commercial aviation companies to extend their air routes to every mining community in the archipelago. MINING AND AVIATION By L. R. Nielson Air transportation, having attained its inevitable position as an integral part of the transportation system of the Philippines, has had an important bearing on the industrial and economic development of the Islands in general. Furthermore, its importance in relation to the development of the mining industry cannot be overlooked. On the other hand, the mining industry has contributed more than any other one industry to the development of commercial aviation in the Philippines. The development of the Paracale mining district, to give one outstanding but not isolated instance, was directly responsible for the inauguration of an airline connecting the cities of Manila and Paracale. And, as the ( RESOLUTION OF CONDOLENCE WHEREAS, God Almighty in His Divine Wisdom has seen fit to remove from our midst Anna R. Clifford, beloved wife of our secretary, friend, and co-worker, Carl G. Clifford; THEREFORE, BE IT RESOLVED: That we, the directors of the American Chamber of Commerce of the Philippines, express to our friend, Carl G. Clifford, our deep and abiding sympathy with him in his great loss. October 22, 1941

THE GOVERNMENT AS BUYER Some of the relationships between government and business are so clear and distinct that comment would be superfluous, and perhaps trite. For instance, the relationship involved in the direct taxation of business. Just as distinct, though perhaps not quite so dramatic, is that relationship resulting from indirect taxation. Again, the control of currency by government creates a relationship that at times becomes more dramatic than either of the first two. But there are certain other relationships which though they are obscure constitute a challenge to the statesmanship of political leaders that cannot be ignored. in the Philippines one of these obscure, somewhat neglected, relationships is that arising out of the dominant position of the government as a buyer. Just how dominant this position is, the following figures will indicate. These figures are for the period, July 1, 1940 to June 30, 1941. During this period the government bought through the office of the Purchasing Agent goods and materials amounting to P18,511,927.99. This figure does not include purchases made by the Manila Railroad, the Bureau of Public Works, and the Philippine Army through other channels. Out of this total of eighteen and a half million pesos, a little more than half a million was spent through the New York purchasing office. Less than one thousand pesos (P880.60 to be exact) was spent in foreign countries. Approximately 96%o of the total orders were placed locally. Can it be denied that the position of the government as a buyer of goods and materials is a dominant one, and that the policies of the government with respect to its buying are of great concern to local business? But the picture is not completed. Other facts help to make this particular relationship between government and local business still clearer. Of the eighteen million pesos spent by the government through the Commonwealth Purchasing Agent, at least twelve million were spent locally on a basis that called for the delivery of the goods or materials within eight days. The significance of this fact is that local businesses in the Philippines had in stock, through import or manufacture, some twelve million pesos worth of goods or materials ready for sale to the government. The needs, and resulting purchases, of the government for supplies and equipment have been regular and predictable. And it has become a general practice for local business, through importation or local manufacture, to provide for them. Our purpose is to call attention to the fact that any sudden or unpredictable change in the buying policies of government, any sudden distortion in this relationship which has developed through the years between government and local business, is sure to have almost immediate economic repercussions. Changes in the established routine in settling the numerous individual transactions that develop from this relationship also have their effect. For example, if the method of payment is altered, and an unfamiliar method is substituted for one that usage has made familiar to local suppliers, confusion and delay in payments will probably result that in turn affect unexpectedly and sometimes disastrously the financial condition of the supplier. Again, the sudden, unheralded application by the government of an "economy" program which means its withdrawal from the market as the buyer of certain usually purchased materials, supplies, and equipment will probably leave the importer or manufacturer with his bodegas full, and commitments coming due at the bank which can be settled only in cash. If the supplier is a manufacturer, his laborers will be discharged and his plant shut down. As a buyer, government cannot operate on the same basis as a private person or corporation,-its transactions are of too great a magnitude, its position in the local market too important. Every move, every change should be carefully studied, and its effects closely calculated to the end that the economic well-being of its suppliers, so far as possible, be protected. FREE SPEECH Our isolationist leaders (Wheeler, Lindberg, Nye, et al.) are indignant. Of course they are not alone in that. The world is pretty well filled these days with people who are indignant over one thing or another. But the indignation of the above gentlemen arouses our interest because of the things that cause it. Are they indignant because American ships have been piratically attacked on the high seas and American lives lost? Are they indignant because of the wanton and savage destruction that has been loosed upon the world by the totalitarian powers? Are they indignant because innocent Frenchmen are ruthlessly killed (without any reference to those rudiments of justice that mean so much to us), to pay for the crime of unknown assassins? Are they indignant because of these and the many other things that cause the indignation of most of us? No, not these. These are not the things that anger them. What makes their blood pressure go up is the fact that the American moving picture industry has helped to inform the American people and the world of the horrors that have become the daily experience of a large share of humanity. These gentlemen protest, yes, how they protest! They protest angrily against the production and exhibition of such pictures as March of Time, Escape, The Great Dictator, even Sergeant York as being "war-mongering propaganda." What do they wish? What would they have? A censorship to keep Americans ignorant of true conditions in Europe, to deprive Americans of the memory of the deeds of a great hero? Is that what they wish, these constant demanders of the privilege of free speech? I J JUST OPEN A CAN ----Breakfast is different! and LIBBY'S is the Brand Libby's Family of Juices includes: I Grape Apricot Tomato Prune Grapefruit Loganberry Peach Pear Pineapple Orange Orange & Grapefruit Delicious-Refreshing I -

0 -- Recent Trends In... Continued from page 8 1940, the balance of trade for the first time since September, 1940 was unfavorable. This was due to the unusual quantity of imports of an emergency nature during July. The August balance shows again a favorable picture. There is every indication that the export figures will show a continuous increase. This is born out by the August figures. The demand for raw materials, now supplemented by Russian needs, will be responsible for this trend. The "re-export" figures given above are worthy of more than passing attention, for they have increased tremendously since the beginning of the war. The re-exports for the first 6 months of 1941 amounted to more than three times as much as for the whole year of 1939. As compared with the monthly figures for 1940, the percentages of increase per month during 1941 have been as follows: January, 93.9 %; February, 523.9%; March, 450.7%; April, 641.6; May, 456.7%; and June, 126.1%. The turning point in this development was caused by th'e re-export control instituted by the United States in April, 1941, whereby re-exports could be made only under license. The months of July and August, 1941 show a renewed but gradual increase. Re-exports seem to have developed into a special branch of the foreign trade of the Philippines, a branch of increasing importance even under the limitations of re-export control. Public statistics for the years 1939 and 1940 show an increasing flow of commodities through the Philippines to Hongkong, Dutch East Indies, and French Indo-China. These reexports served no doubt to replace part of the imports that those countries, during normal times, received from Europe. Unfortunately the details of the re-exports during the first 6 months of 1941 (the most interesting period) are not yet available. The increasing participation of the United States in the foreign trade of the Philippines is clearly shown in Table III. During recent months the month of June. The war has had a distinct influence on the structure of the Philippine export trade. The rapidly increasing demand for raw materials led naturally to increased export figures for Minerals: 1939 1940 1940 (Jan. to June)1941 (Jan. to June) P85,300,000 92,300,000 44,700,000 58,700,00( TABLE III Comparative Value of Imports and Exports by Country of Origin and Destination for 1939, 1940, and January-July, 1491 Imports: in Thousand Pesos Country: 1939 1940 1941 1940 1941 1941 Jan.-June Jan.-June June July Total...... 245,130 269,463 135,902 143,337 27,356 34,009 U.S.A. 167,383 210,371 110,329 113,030 22,753 27,658 Japan 15,216 12,063 5,618 5,959 0,738 1,258 China 5,243 6,212 4,417 3,081 1,056 1,662 Exports: in Thousand Pesos Country: 19Country: _ ____ 1940 |1941 1940 1941 1941 1939 1940 Jan.-June Jan.-June June July Total...... 315,784 311,849 177,754 157,602 28,240 28,615 U.S.A. 259,659 258,308 145,156 129,893 25,271 24,959 Japan 15,989 17,594 14,511 7,707 1,061 0,536 China 2,001 3,687 J 5,360 1,339 0,400 J 0,690 this participation has amounted to more than 90 % of the total. Exports to Japan increased sharply during the first six months of 1941, the amount of the increase being about the same as that for re-exports during the same period. The export control measures made their influence felt in the trade to Japan in July, 1941, the figure for that month beirg little more than half that for A similar but stronger growth can be noted in the export of Fibres and Manufactures: 1939 1.940 1940 (Jan. to June)1941 (Jan. to June)An increase can also P28,000,000 30,000,000 14,300,000 19,700,000 be remarked I ---— — WARNER, BARNES & COMPANY, LONDON-MANILA -ILOILO-CEBU BACOLOD IMPORTERS & EXPORTERS GENERAL MANAGERS OF LTD. COMMONWEALTH INSURANCE COMPANY, ILOILO WAREHOUSING CORPORATION, RAMONA MILLING COMPANY INSURANCE DEPARTMENT Transacting: Fire Life Marine Automobile Workmen's Compensation Fidelity & Surety Bonds MACHINERY DEPARTMENT Sugar Machinery, Diesel Engines and Mining Machinery Agetynf for: Hongkong & Whampoa Dock Co., Ltd., Hongkong i MINING DEPARTMENT;cneral Managers of EASTERN DEVELOPMENT CO., INC. INTERNATIONAL ENGINEERING CORPORATION Operating: Antamok Goldfields Mining Company Batong Buhay Gold Mines, Inc. I. X. L. Mining Company Masbate Consolidated Mining Company North Camarines Gold Mining Company Paracale National Gold Mining Company Cable Address: "WARNER" - Standard Codes. Manila Office: SORIANO BUII,DING, Plaza Cervantes SHIPPING DEPARTMENT A.qents. for: Nippon Yusen Kaisya Cunard White Star, Ltd. Sp'ccial.cw)pr.('.stati,'r.s of British Overseas Airways Corporation Booklizg A/lg(cns for: Philippine Air Lines, Inc. AGRICULTURAL DEPARTMENT All Classes of Fertilizers Ramie and Derris IMPORT DEPARTMENT Sperry Flour Sugar Bags Anhydrous Ammonia I -- 12 The American Chamber of Commerce Journal Novcmcn)r, 194 1

in the export of Logs, Timber, and Lumber: 1939 1940 - 1940 (Jan. to June)1941 (Jan. to June) P 6,400,000 7,200,000 3,500,000 4,400,000 Of special interest is the fact that the Philippines have been able to increase the export of certain groups of articles, which previously were of negligible importance. During the first 6 months of 1941, the following increases appeared in the figures: Inedible animal products -119.2%C Miscellaneous plant products - 745.9% Medical and pharmaceutical preparations - 424.4% These figures demonstrate the ability of the Philippines to develop new lines of export. Sugar exports show a different tendency from that noted above, a tendency downward instead of upward, as can be seen from these Facts-Plain And... Continued from page 9 tics on almost every conceivable aspect of life in the Philippines. There are 137 tables grouped into fifteen chapters. There are chapters on Geography, Population, Education, Vital Statistics, Labor, Agriculture, Mining, Manufacturing, Transportation, Banking and Finance, Imports and Exports, etc. The volume measures approximately 91/2 inches by 12 inches. The price is P3.15. It is published by the Bureau of Census and Statistics and may be ordered from that bureau or from the Bureau of Printing. *: -: * Maps And Charts Of The Philippines Do you need a large scale map of some particular section of the Philippines? You may not know it, but the chances are that the U. S. Coast and Geodetic Survey have the very map you are looking for. If they don't have it, they will make a blue print of the particular spot that interests you, giving the most up-to-date information about its topographic features. However, their Catalogue (which can be secured free if it is available at all) lists almost 200 charts and maps for the Philippines, among which you are pretty sure to find the very one you want. The office of the Coast and Geodetic Survey is on Engineer Island, and so a little inconvenient to get to. However, with considerable thoughtfulness for the convenience of the public, those in charge of that office have made arrangements that permit their charts and maps to be secured (at the regular official prices) from the Luzon Stevedoring Co., Port Area, the Philippine Education Co., Escolta, Hoskyn & Co., Iloilo, and the Pacific Commercial Co., Cebu. There are 12 Sailing and General Chlirts of the Philippines. The first one is of the entire archipelago, on an approximate scale of 1:1,600,000. There are also four sectional charts on a scale of 1:800,000, "Manila Bay to Taiwan," "Philippines, Central Part," "Philippines, Southwestern [Continued on page 26] figures: 1939 - 1940 1940 (Jan. to June)1941 (Jan. to June) P99,500,000 94,500,000 48,600,000 44,600,000 This little analysis of the foreign trade of the Philippines shows that up to the present the difficulties of war conditions in the world have been met successfully, which leads us to hope that the graver problems and sterner difficulties of the future will also be met and solved with equal success. 7 I -I 1= I Also sold in the convenient 1 kilo cellophane package and in the economical BA 10 lb. bag. i '1Joe Produced by VICTORIAS MILLING COMPANY, INC. operating raw sugar factory and refinery at VICTORIAS, OCCIDENTAL NEGROS i HURRAY! This is how you will feel on discovering yourself properly insured after your loss has occurred. The rainy season carries the threat of damage by flood, windstorm, rain, typhoon and other dangers. Are you amply insured against these? How is your automobile and fire insurance? Are they ample and up-todate? If you are uncertain about all these, or not insured, Filipinas Compaiia de Seguros will gladly assist you by providing you with an analysis of your present policies and with the right kind of insurance. Do it today while there's still time. 11 _i r(4 FIREARM -TRUST - FIDEtlITY i~1 I-dSURETY BONDS - FIRE I ErA.QUAK~ M-rOtOR CAR 1 MOTltOA6 LOANS _ " _ —~ --- —--- The Amciiccan Clhambcr of Commerc Journal Nov(,bcr, 1941 I.)

LEAilxn1il rA xAllU; _ MECHANICAL LEATHERS Hydraulic packings and mechanical leather specialties. Chicago Belting Company's leather packings and mechanical leathers are used the world over. Like their belts, these mechanical leathers are products of quality, designed to last longer, to save money for the user by reason of their fine service. There are no similar products made of higher or more uniform quality. Our leather packing engineers have complete data on correct design and best application of all kinds of leather packings, straps and textile leathers. Write for special literature or send us your inquiries or problems. We specialize in hydraulic and pneumatic packings. MADE BY THE CHICAGO BELTING COMPANY CHICAGO THE EDWARD J. NELL COMPANY No. 1, T. Pinpin, Manila Philippine Distributors (

Antipolo Mining Company- -Manila's Nearest Gold Producer When the Ipo Mining Company suspended mining operations in Bulacan early this year (after a long and honorable period of production), the distinction of being the gold producer nearest to Manila passed to the Antipolo Mining Company. The property of this company is only 105 kilometers south of Manila in Matasnapulan Taysan, Batangas. It can be easily reached over a first class road through the fertile fields of Laguna and Batangas. The road is practically level all the way; the campsite at the mine has an elevation of only 700 feet. Even an observant mining engineer would probably never have guessed that a deposit of gold ore lay below the cultivated fields that are unscarred by any outcrop. Actually the Antipolo vein was discovered purely by accident. A farmer's plowshare turned up some quartz that had been covered by the surface soil. More out of curiosity than with much hope of finding a profitable vein in so unlikely an area, the rock was sent away for assay and gave a high return in gold. Test pitting followed and the main Antipolo vein was located. This was in 1937. Vigorous development work followed and a 2 -compartment shaft was sunk, ultimately to the 300 level, with development work on the 60 and 160 levels as well. A small 25-ton amalgamation mill was erected and the mine went into regular though limited production. During the three year period that followed the start of development work on the property, comparatively ly obscure Antipolo mine was showing much promise as a gold producer. The grade of the ore had started to advance sensationally and monthly production mounted. Improvement continued steadily. According to official statements of the company, the production for the first 9 months of the year has been P269,398 from milling 5,752 tons of ore. This production is more than 21/ times as large as the production during the entire year of 1940, when it was P108,717. These encouraging results came from the marked improvement in the grade of ore in the Antiuolo vein below the 300 level. When a winze was sunk on the vein from that level, high values in gold were cut across a good mineable width in the ore shoot, which have persisted for 108 feet thus far below the level, with no indication at the present time that the limit of the ore shoot is in sight. The vein has maintained a width of from 6 to 9 feet, and appears to be very strong structurally. Regular sampling on both sides of the winze has shown that the high values are consistent, and not erratic in character. Whether this satisfactory state of affairs will continue for any adequate distance on either side of the winze can of course be determined only by development, but the chances favor an optimistic view. With the improved outlook for the mine the company determined to erect a larger and more efficient mill to replace the amalgamation plant, which was making an unsatisfactory gold recovery, amounting to only 60 per cent of the head values. It is hardly Amalgamation mill of Antipolo Mining Co. little was heard of the mine by the general public. The company has always been privately owned and has sought no outside funds. Consequently there has never been any speculative interest in the shares in which the public might participate. The property has been developed as a straight business venture in gold mining by men primarily interested in making a mine. Early in 1941 alert mining circles began to realize that the comparative New 75-ton cyanide mill of Antipolo Mining Co. View of Antipolo Campsite. The Anmericn Chamber of Commerce Journal Nov(,mbtbr, 1941 15

necessary to state that the company engineers were fully aware of the situation and of course the tailings, which average over P30 per ton, have been impounded for future treatment in the new mill. Ore tests were made to determine the most satisfactory metallurgical process to employ for the ore, and it was found that all-cyanidation would give a 93-95 per cent recovery of the gold. A contract was given to the Engineering Equipment and Supply Company for the construction of a 75-ton mill and work was started early in the year. Delays in obtaining machinery and equipment due to war conditions have postponed the date for completion but it is anticipated that the mill will start grinding before December. The flow sheet has no unusual features as the ore is simple to treat. The conventional crushing and grinding in cyanide solution is followed by thickening, agitation, and filtering. The Antipolo mine furnishes an excellent example of the merit in starting to mine on a modest scale and expanding operations as the mine develops. Unlike some other mining ventures in the Philippines the mistake was not made of erecting a big expensive mill before the mine was ready for it, and without any justification at all for a huge capital ex penditure that could not possibly be amortized by a small ore deposit. It is better business obviously to accept a 30 per cent return annually on an investment of P200,000 and amortize the capital than to get a 5 per cent return on P1,000,000 with no provision for capital amortization. Yet too often just that sort of mistaken optimism has wrecked the chances of many mining properties. With the construction of seven newt plants to produce aluminum in the United States, as authorized by O.P.M., the aluminum-manufacturing capacity of the United States will be raised to 1,400,000,000 pounds annually. Demand for aluminum for the last half of 1941 is estimated at approximately 400,000,000 pounds, which can just be met by using all primary and secondary output. A IL~~~~ TRUCK OWNERS! Come in and let us tell you how you, too, can get 25 % more truck tire mileage with the B. F. Goodrich Speedliner! See its thicker, heavier tread. Let us explain the four new construction features that make the Speedliners give you longer mileage and save you money! Chromite consumption in the United States is now estimated as between 750,000 and 800,000 long tons, an increase of about 200,000 tons, or 45% over normal consumption. Most of the American supply comes from Africa, the Philippines, and Turkey. Approximately 21/2 tons of metallurgical ore are required to make 1 ton of ferrochrome. According to Mineral Trade Notes, published by the U. S. Bureau of Mines, British Malaya has considerable iron ore resources and exports 1 /2 to 2 million tons of iron ore annually to Japan. There is little chance to establish an iron and steel industry there on account of the absence of cheap sources of coking coal. India has huge deposits of gypsum. According to official sources, the mineral is found over an area of 23 square miles, wifth reserves estimated at 15 million tons. Cement plants are the largest consumers. The United States has the only known commercial deposit of helium gas, at Amarillo, Texas. The plant is operated by the Bureau of Mines, and its use is strictly supervised, reserves however are said to be large. Bolivia today is of special interest to the United States as a potential source of tin, tungsten, and antimony. No other country is so dependent upon the mining industry for its economic life. Mineral products make up 90% of Bolivia's total exports, of which about 75 % is tin concentrates, valued at 2bout $30,000,000 annually. Gold mines in Australia employ about 15,200 men. More than 4,100,000 tons of ore are milled annually, average value $9 per ton. The total value of the gold annually produced exceeds $37,000,000 and is slightly below the figure for the Philippines. * BG-Coodrich * SPEEDLI/ER TRUCK TIRES __ I I 16 The American Chamber of Commerce Journal November, 1941 (

Lesser Known Ores In The Philippines Suggesting What To Look For. No country is entirely self sufficient in minerals. Even the United States is short of supplies of chromite, manganese, and tungsten, and is totally lacking in deposits of tin ore. Canada has little or no iron ore; most of South America has little coal; Japan is deficient in both iron and coal; Germany possesses virtually no copper or lead; and Italy is lacking in nearly every metalliferous ore except perhaps aluminum. The list could be extended indefinitely. The British Isles have had a wide diversity of mineral wealth-iron, coal, lead, and tin, but no precious metals are found there and zinc and copper must be imported. So it is no disparagement of the mineral wealth of the Philippines to admit frankly that despite the rich gold mines existing here, and the impressive deposits of chromite, iron ore, and manganese, to date at least some of the ores of the common metals have not been found in sufficient quantity to make them commercially valuable. This is not to imply that such deposits will not be found. There are vast areas in the Philippines that have not yet been prospected, and on any map there are areas marked that have not even been explored. But there is no gainsaying the fact that during the last 10 or 20 years there has been a lot of intelligent prospecting in the principal islands for mineral deposits by native prospectors and by trained engineers and geologists. While most of this search was devoted to prospecting for gold, it is hardly likely that any really worth while outcrops of the base metal ores would have been passed unnoticed. Hence it is probably true that if large base metal deposits do exist, they are not adjacent to the known gold areas nor within easy distance of any travelled roads or trails, or they would have been reported upon. This applies especially to the two great base metals, lead and zinc. Copper deposits are known in many provinces in the Islands, but with the exception of Lepanto Consolidated at Mancayan, which may properly be ranked among the notable copper de posits of the world, no other deposits of large size and adequate grade have been reported. Small copper deposits are numerous, and copper is associated with gold ores at many mines but in such cases the copper has strictly a by-product value and could not be mined for itself alone. Large areas often show the distinctive green discoloration of copper in the country rock, but it takes very little copper to color a large outcrop and assays are apt to be disappointing. Yet it would be very misleading to suggest that the Philippines may not produce a considerable amount of copper in the future; certainly the chances favor optimism. Not so much can be said for lead and zinc. The ores of both these metals are quite distinctive and easy to recognize-lead ore or galena on account of its great weight and high lustre, and zinc ore, sphalerite, or "jack", on account of its resin-like color as well as its weight. Occasional fine specimens of both ores have been found in the gold mines. The gold ores of Surigao Consolidated - -- ~~~~~~~~~~~~~~~ --- —----— ~~~~~~~~~~~~~~~~~~~~~~~~ T1 ENGINEERING EQUIPMENT AND SUPP.LY CO. (INCORPORATED) Engineers - Contractors - Machinists - Machinery - Mechanical Supplies General Office: 13th & Chicago Streets, Port Area, Manila Engineering Shops: Mandaluyong, Rizal Office Tel. 2-41-41 MACHINERY AND SUPPLY DEALERS Agitators, Thickeners Air Conditioning Equipment Aluminium Castings Babbitt Metais Ball Mills Belt Hooks Blasting Supplies Blowers, Drill Press Bronze Bushings Cable Clips Carbide Lamps Centrifugal Pumps Chains, Winches Crushers, Screens Circular Sawmills Compressors Concentrating Tables Concrete Machinery Concrete Vibrators Conveyors Cutting Machines, Contour Steel Diesel Locomotives Dredges of all kinds Drill Steel Drilring Machines Duplex & Triplex Pumps Electric Motors Electric Tools Electrical Apparatus Explosives Fire Fighting Equipment Flotation Cells Gasoline Engines Generators Grinders Hacksaw Machines Hoists, Chain & Electric Hoists for Dump Bodies Leather Belting Logging Blocks Logging Equipment Magnetic Separators Marine Diesels Mechanical Packing Melting & Tilting Furnaces Mine Hoists Mine Wood Tanks Mineral Jigs Mining Picks Mining Shovels Nautical Instruments Oil Burning Equipment Outboard Motors Pile Hammers Pneumatic Tools Power Boats Precipitation Equipment Propellers Punches, Shears Recording Instruments Refrigeration Equipment Road Rollers Rock Drills Rotary Filters Saws, Sawteeth Shapers, Lathes Sheet Metal Tools Shovels, Buckets, Cranes Stationary Diesels Steel Tanks Stuffing Boxes Surveying Equipment Thermometers Trolleys Truck & Mine Scales Turbine Pumps Tubular Boilers Vacuum Pumps Valves of all kinds Vee-Belts Water, Oil & Gas Meters Welding Equipment Welding Rods Woodworking Machines Zinc Dust — Ii I The American Chamber of Commerce Journal November, 1941 17

mine are often found associated with galena and this mine ships a considerable quantity of lead concentrates rich in gold. Some zinc is found in the Paracale gold mines but no attempt is made to recover it as metal. The only lead-zinc mine in the Philippines where mining was done primarily for base metal recovery was the Mineral Resources mine in Marinduque which operated unsuccessfully for a time. According to a paper published in the Engineering and Mining Journal by the superintendent, the lead and zinc content of the ore was low, averaging only 0.7%7 and 2.0% zinc. This, according to the author of the paper was not sufficient to make the ore profitable at the metal prices then prevailing, and subsequently the mine was shut down. It may be noted that this ore content was just about the same as that of the zinc ores in the great Tri-state zinc area of the United States, but mining conditions there permit costs to be achieved that are notably low. In every other zinc-lead area of the world, percentages of the metals must be appreciably higher to permit profitable mining. Ores of antimony, tungsten, and tin, are far less common throughout the world than copper, lead, and zinc ores. It is singular that the main sources of the world's supply of the former are found in the Far East. Malaysia, Siam, and the Dutch East II II i I i Ii I i I Indies furnish most of the world's supply of tin, and China has a virtual monopoly on antimony and also furnishes large amounts of tungsten ore. It might reasonably be hoped that similar deposits might be found in the Philippines, for the geology is not unfavorable for them. None of these ores offer any particular difficulty in recognition. Tin occurs as the oxide, cassiterite, a heavy mineral usually found in stream beds where it is mined by placer methods much the same as in gold dredging. It is rarely found in lodes. Some cassiterite has been reported in Palawan, but little is definitely known of its occurrence there. Antimony ore, or stibnite, is very distinctive in appearance, occurring usually with long needle-like crystals with high lustre, making handsome cabinet specimens. Some stibnite has been found with the gold ores in Baguio and in Mindanao, but no deposit has been located that might be worked for antimony alone. The common ores of tungsten are wolframite and scheelite. The former may be confused with magnetite, the iron ore, but it is only feebly magnetic. Scheelite may be similar in appearance to calcite or barite but its great weight distinguishes it from the first, and a chemical test from the second. Neither mineral has been reported in the Philippines to date. Both mercury and sulphur deposits might be expected to be found in the Islands on account of former volcanic activity and favorable geology. Sulphur in fumarolic deposits has been found near the Batong-Buhay mine in Mountain Province, and has been reported in southern Luzon and in Mindanao. Lack of easy transportation would make exploitation difficult, but there may be a limited emergency supply. Cinnabar, the ore of mercury, has a distinctive red color and a simple blowpipe test reduces it to mercury. No commercial deposit is known in the Philippines, altho it has been reported in a few localities. No pessimistic attitude is warranted for the possibility of finding commercial deposits of any or all these minerals in the Philippines. Butte started as a gold camp; its tremen dous copper production did not come until years later. Wisconsin was originally known for its lead, back in the early part of the nineteenth century, while its substantial zinc production did not come until a century afterwards. Other instances could be cited. The foregoing has been written not to discourage, but to encourage search for ore deposits of the metals not yet exploited here. The Blade Mill shown here is a development in Ore Preparation. It is specially adapted to washing materials carrying large percentages of clay and primary slimes. The Blade Mill will handle rock up to 14 inches. Capacities and sizes ranging from 25 to 200 tons an hour. Allis-Chalmers build a complete line of Scrubbers, Log Washers, Sand Washers, Scrubber Screens, Straight and Conical Trommels, and Vibrating Screens. THE EARNSHAWS DOCKS & HONOLULU IRON WORKS 60-118 Second Street, Port Area Manila, Philippines P. 0. Box 282 Tel. 2-32-13 Bacolod Cebu 18 The American Chamber of Commerce Joairnal Novenmber, 1941 ( I i I I

The Stock Markets By Ovejero & Hall Itogon IXL Lepanto Masbate Mindanao Mo. Lode 31 31% 21 26^ 25 26 1014 10Y 21% 21 20 8% 23 22 22% 09 during the period: 75 MANILA-October 15, 1941 79 56 61 24 18% 2i The apparent improvement in U.S.Japanese relations was reflected in early firming tendencies, with the market, however, unable to make much progress upwards. Subsequently, we have witnessed a gradual deterioration in the Russian war outlook under large scale German offensives. During the latter days of September, this resulted in a narrowly irregular market. Subsequently, as the seriousness of the Russian position has become more apparent, the pro-Axis elements in Japan have again come to the fore, and there has been a noticeable increase in nervousness over the possibility of a Japanese attack on the maritime provinces, which might involve the U.S. in an Oriental war. The latter has caused a gradual tendency to lighten speculative commitments during the past two weeks. Prices have sagged off slowly as buyers have gravitated towards the sidelines. Selling pressure on the decline has not been in evidence at any time, and activity has, on the whole, been of small proportions. During the past month, a more comprehensive market average has been instituted. In our last month's review we used the old indicator which closed on September 15th at 61.19. The corresponding figure on the new average was 70.84. At today's closing level of 61.90 it is off 8.96 over the month. Total number of shares traded from September 16th to October 15th inclusive amounted to 150,532,398 valued at P8,875,584.-, compared with 256,677,472 valued at P10,410,972.- for the previous month. There have been some noteworthy accomplishments in the Mining Industry during September. Mindanao Mother Lode once again established a new record with 8,600 tons milled for a production of P1,130,100. Big Wedge also reported another new record with 12,270 tons for P556,636. Domestic considerations, however, are not likely to exert any great influence on the market until the international news improves. It is likely therefore, that we shall witness an irregular and nervous market over the near future. The following are today's closing quotations as compared with a month ago for the more active issues, together with highs and lows registered Acoje Atok Bauuio Gold Big Wedge Benguet Consol. Sept. 15 47c 57 21 65 High 491, 62 22 73 Low 38 50 16 59 Oct. 15 410 59 16 71 San Mauricio 22'/2 Surigao Consol. 24 ', Suyoc 15 United Paracale 26 1 25 17 19 20 13 /2 141 26 /2 20 22 4.20 4.25 3.85 4.10 [Continued on the next page] __ I TODAY'S MOST MODERN DIAMOND CORE DRILL IF you've done diamond drilling, you have probably asked yourself "Why doesn't someone build a drill with oil-hydraulic feed and sensitive controls; with one gauge to read bit pressures, with a drill head that swivels through 360~? A drill with two drilling and hoisting speeds, using an automotive type transmission. A drill using ball and roller bearings throughout, and available in all types of drive." Ingcrsoll-Rand presents herewith A that drill. COROC has all of these and many more desirable features. L 1.'.......:.. l -... ~kva iI; I s1I FASTER DRILLINGWITH MORE TIME FOR PRODUCTIVE DRILLING By employing a duplex pressure gauge in which both scale and pointer rotate, the Master Gauge reads directly the pounds pressure on the diamond bit at all times. No other diamond core drill provides the spindle driving power, the smooth and precise bit-pressure control, and the diamondsaving accuracy of the I-R Master Gauge. The high drilling speed of this machine insures many more feet of core per shift. In addition the hoisting and lowering of tools is speeded greatly by COROC's fewer and more practical hoist controls, and by the convenience of the two-speed transmission. I. - The Americn Chamber of Comemre Jourmal November, 1941 19

The Mining Industry -Tabulated Statistics Courtesvy-Cllcr ber of Mines of the Philippines AUGUST 1941 SEPTEMBER 1941 TOTAL PRODUCTION CAPITAL DIVIDE4NL MINES -%whnilzed t-'aid Up 1941 191 MINES Tonnage Value Average Tonnage Valul Average 1941 1940 - uhoized,aid Up 941 19 Antamok 17,384 P 276,536.10 P15.91 16,485 P 257,971.88 P 15.65 P 2,129,898.50 t'2,000,029.91 P 3,000,000 P 2,750,000 - - Antipolo 573 30,229.34 52.76 628 33,377.23 53.15 269,098.43 - 1,000,000 417,19 - Baguio Gold 10,865 205,260.02 18.89 11,585 203,905.45 17.60 1,786,450.85 1,640,220.28 2,000,000 1,299,950.02 Balatoc 68,077 1,137,971.52 16.72 66,125 1,189,341.66 17.99 10,374,663.30 10,064,778.14 6,000,000 6,000,600.40 Batong Buhay 3,899 135,939.36 34.87 5,167 130,046.10 25.17 1,279,849.18 2,000,000 1,661,703 - Benguet Cons. 35,296 741,145.70 21.00 41,192 916,975.00 22.26 7,989,514.02 8,186,256.50 12,000,000 12,000,000.30 Benguet Gold 679 9,151.00 13.49 1,234 22,933.00 18.58 486,946.83 20(.000 200,0o,, -.005 Big Wedge 12,836 476,354.32 37.11 12,270 556,626.34 45.37 2,565,751.88 1,516,814.38 2,000,000 777,692.02 Cal Horr 7,067 103,366.98 14.63 6,768 104,795.76 15.48 1,027,872.91 1,044,722.81 Owned by Benguet Cons. - Capsay 4,504 57,753.68 12.82 5,363 56,418.36 10.52 556,024.28 868,144.14 300,000 175,000 - Crown Mines 581 6,590.00 11.34 319 3,275.00 10.27 57,962.51 86,300.63 l.000,000 6:6,.000 -) Davao Gold 5,578 141,408.00 25.35 6,599 139,147.00 21.09 80,000 80,000 - Demonstration 5,465 70,785.00 12.95 5,957 46,369.00 11.72 632,513.98 368,312.51 1,000,000 1,000,000 - - East Mindanao 5,991 61,630.76 10.29 5,930 71,942.30 12.03 765,525.56 579,210.93 1,000,000 1,000,000 - - Gold Creek 1,834 42,018.43 22.91 1,660 43,009.53 25.91 225,572.57 130,688.60 1,000,000 700,000 - - Gumaus Goldfields - 30,801.91 - 58,053.42 - 403,111.91 582,222.00 1,000,000 819,794 Itogon 27,976 500,635.40 17.89 26,744 482,848.59 18.05 4,332,643.74 3,940,870.43 2,500,000 2,500,000.02 IXL 14,311 265,197.84 18.53 13,501 245,023.24 18.15 2,222,143.42 2,299,823.52 1,500,000 1,500,000.02 Layog --- 1,110 7,287.52 6.57__ -_. Aldecoa 799 3,207.92 16.12 173 2,912.36 16.83 -300,974.84 - Masbate Cons. 124,616 508,877.66 4.08 114,575 521,466.60 4.55 4,798,766.14 4,585,417.70 5.000,000 5,000,000.01 - Masbate Gold. - -500,000 164,080 - Mayon Mining ---- 1,344 60,280.09 44.85 358,254.87 100,000 100 000 - Mind. Mother Lode 8,505 1,005,484.00 118.22 8,600 1,131,180.00 131.53 5,139,805.12 1,543,196.88 2,000,000 2,000,000.01 - Mineral Resources 3,431 35,140.75 10.24 3,368 29,939.03 8.89 373.649.12 292,501.13 2,000,000 1,351,920 - - North Camarines 1,961 41,294.69 21.06 2,414 39,719.94 16.45 610,291.28 1,267,664.58 1,000,000 995,802 - Northern Mining 2,226 48,849.93 21.95 2,047 41,450.46 20.25 610,291.28 490,946.65 1000,000 840,041 - Paracale Gumaus 6,156 142,933.09 23.22 6,657 152,640.80 22.93 1,433.034.76 1,305,724.65 500,000 500,000.04 Paracale National 1,079 25,560.17 23.69 1,366 38,861.79 28.79 219,419.76 265,249.21 1,000,000 959,165 - - Sta. Barbara 1,600 48,000.00 30.00 1,870 53,000.00 28.34 San Mauricio 13,366 397,775.40 29.76 12,804 397,417.24 31.04 3,819,112.24 4,556,463.57 2,000,000 2,000,000.015 Santa Rosa 6,168 136,407.89 22.12 5,620 136,085.16 24.21 1,075,374.05 6'8.506.10 1,500,000 1.500,000 - - Surigao Cons. 11,380 237,970.00 20.91 11,160 250,803.00 22.47 2,122,982.00 1,520,855.08 1,200,000 1,023,400.02 Suyoc Cons. 7,556 185,376.01 24.53 7,521 190,389.36 25.31 1,667,459.27 1,454 896.62 1.250,000 1,250000.01 Treasure Island 7,683 221,330.44 28.81 7,195 237,098.47 32.95 1.928,033.71 454,038.46 2,500 shares 66,940 - United Paracale 11,000 290,922.89 26.45 11,236 289,317.48 25.75 2,616,841.21 2,407,278.41 1,300,000 1,300,000.02 PLACER Coco Grove 345,520 76,078.10 0.22 338,690 114,390.43 0.34 1,095,109.46 1,082.604.16 1,500,000 1,500,000.01 Mindanao Mining 78,440 18,782.98 0.24 78,156 26,952.92 0.34 -_ Tambis 28,038 13,505.00 0.48 15,192 5,711.00 0.38 127,513.60 __- 400.000 390 643 - - ~A -\ r V:MI ETA l, Lepanto 13,964 376,381.65 26.95 8,305 222,955.56 26.85 2,478,399.14 1.964.128.13 1.750,000 1.050,000.01 Hixbar 8600,000 274.360.03 - Cons. Mines 28,450 341,400.00 21,600 259,200.00 12.00 1,511,876.00 5.000,000 4,521,246 - NEW YORK-October 15, 1941 Rumors that Japan was contemplating abandonment of the Axis caused the best demand in some time for good grade stocks on September 17th. One week later Secretary Morgenthau's statement, advocating a total levy on all corporate profits exceeding 6% on invested capital, thoroughly dampened sentiment. Notwithstanding informed Washington t. 3i~i-~:Ms;7T b~ WI- I gi - r~~~r dw.. —;5w -.-w9k-mA CR1 JSHERS PULVERIZERS FURNAC Made by the BRAUN CORPORATION, Los Angeles are preferred by Assayers the world over because of their Ruggedness Efficiency Economy Sole Agents for the Philippines BOTICA BOIE Philippine American Drug Co. MINING DEPARTMENT 102 Escolta, Manila;ES i opinion that such a proposal would have no chance of passage, coming as soon as it did after the passage of the stiffest tax bill in history the mere threat was sufficient to induce a moderate selling wave. Subsequently, the growing seriousness of the Russian situation has accentuated the tendency to lighten speculative commitments, thus stocks have lost ground on balance over the period under review. Market fluctuations as registered by the Dow Jones daily closing Industrial and Rail averages have been as follows: Sept. Oct. 15 High Low 15 Change Industrials 127.20 129.32 120.52 120.52 -6.68 Rails 29.25 29.49 28.33 28.34 -.91 Looking back over price movements since the present conflict began, it is clear that actual war developments are the dominating market influence. Until the spectre of an Axis victory is definitely removed from the Democratic world, stocks are unlikely to make sustained progress upwards, notwithstanding advancing commo[Continued on page 25] 20 The American Chamber of Cohmmrerce JdornuJ November, 1941 (

S. i. Bowditch, formerly with the Benguet Consolidated Mining Company, is now located at Little Rock, Arkansas, where he has a position with the Reynolds Aluminum Company. * * * George H. Miller, chief Safety Inspector for the Bureau of Mines, has been making an extended trip through the southern islands, where he inspected among others, mining properties in Cebu, Leyte, Samar, Siquijor and Surigao. * * * W'lliam Toels has returned to the Philippines from the United States and resumed his position with Lepanto Consolidated at Mancayan. Cotinued on page [Continued on page 80] Director D. A. Abadilla of the Bureau of Mines, accompanied by W. F. Boericke and N. N. Lim, visited the Antipolo mine in Batangas.: Douglas McKay, general superintendent of Mindanao Mother Lode mine has been in Manila on company business.:::'.::: Frank Johnson, general superintendent of the Liguan Coal mine, spent a week in Manila on company business. O. M. Bishop, mine superintendent at Lepanto, sailed for the United States on leave. He was accompanied by Mrs. Bishop. * * * George H. Worthington, chief geologist of Benguet Consolidated, spent some time in Manila on official business. B. Salonga, chief metallurgist of the Bureau of Mines, was at Lepanto mine for several days on professional work. * * * P. A. Durkee and D. G. Headley, formerly on the Balatoc staff, are now with the Davao Gold mine in Davao.:I * g: Byron C. Elsley has resigned his position at Balatoc to become chief geologist of the Itogon mine in Baguio. * * * Harry Barr, general superintendent of the San Mauricio mine in Paracale, resigned from that company, and is now engaged at Mariveles. *.,: Raul Bergman, until recently general superintendent on the Santa Rosa Mine in Paracale, has resigned that position and joined the staff of International Engineering Corporation. H. D. Weidman, mine superintendent for Masbate Consolidated, has reutrned here to resume his position at the mine after a vacation in the United States. R. Brooks, who finds time outside of his work with the Philippine Packing Corporation to become interested in several mining ventures in that country, has returned from a vacation in America.;.: * * R. Kleenfeld, petrologist on the staff of the National Development Company, has returned to Manila after several months in the United States. * * * H. Foster Bain has been away from Manila for several weeks on an inspection trip of the coal mining properties of the National Development Company. * * * M ---- - - - W_ For the Peak of Diesel Operation and Economy, Choose from 4 Sizes of INTERNATIONAL TIAcTRZAcTORS International Harvester's full line of TracTracTors can do a real job of speeding up farm work for you all the way I^ ZES7 from plowing to harvest. And Interna4_ S ~ZE S tional Diesels do it at a minimum fuel cost that is amazing! TD- 6 30-36 H.P. TD- 9 38-46 H.. For ease of operation, dependable perTD- 9 38-46 H.P. TD-14 54-4 H.P formance, and ready adaptability in every TH.. farm season, International TracTracTors TD-18 70-84 H.P. are in a class by themselves. Stop in and look them over; we'll be glad to demonstrate the one that fits your requirements. INTERNATIONAL HARVESTER COMPANY OF PHILIPPINES MANILA CEBU BAGUIO BACOLOD LEGASPI DAVAO The American Chamber of Commerce Journal November, 1941 21

-- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~- L~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SlERwJ/IW/*IUIAAS An Announcement of Importance to Paint Buyers EFFECTIVE Nov. 1st, 1941, Theo. H. Davies & Company, Ltd. became the representatives in the Philippines of SHERWIN-WILLIAMS COMPANY, leading American manufacturers of ready-mixed paints, enamels, lacquers and varnishes. Transfer of all stocks of SherwinWilliams Products in the hands of the former representative, Pacific Commercial Company, has already been made. To ensure continuity of service the staff of the Paint and Oils Department of Pacific Commercial Company has joined Theo. H. Davies & Company, Ltd. at the Perez Samanillo Building, who solicit your inquiries and orders for SherwinWilliams Products. Telephone your orders or inquiries to Nos. 2-38-76 or 2-38-77, or, by mail, address Theo. H. Davies & Co., Ltd. P. 0. Box 287, Manila I= THE BRAND Fire-Resisting I OF QUALITY Rust-Proof ASBESTOS- CEMENT ROOFING AND SIDING Corrugated and Plain DEFENSE against FIRE, RUST, RAIN and HEAT DEFENSE against ANAY and all other INSECTS DEFENSE against all ENEMIES of ROOFING and LUMBER Manufactured in the Philippines by Philippine Asbestos Products Co., Inc. GENERAL AGENTS Theo. H. Davies & Co., Ltd. Perez Samanillo Bldg. Telephones MANILA 2-38-76 & 2-38-77 P. O. Box 287 I 22 The American Chamber of Commerce Journal Novembber, 1911 f

Gold: Master Or Servant? A digest of an article which appeared in Foreign Affairs, July, 1941. By William Adams Brown, Jr. Clearly the debate over the "gold problem" has come to grips with ultimate issues. It now centers around the most fundamental question that can be asked about gold: "Has it become an obsolete form of money?" This question cannot be dismissed with a resounding "No" based on tradition and emotion, nor by a resounding "Yes" backed up by pointing to the record of the past six years. It must be recognized as an open question to be debated in the light of the historical record and of the alternative policies with respect to gold which will be open to the Powers after this war... In the last quarter-century the United States has been a party to seven different methods of international gold distribution. A summary description of all seven will help to sift out possible and probable uses of gold in the future from those which are impossible or improbable. 1. Before the first World War gold movements were in general responsive to the ebb and flow of trade and to the needs of the world's banking and currency systems. In the short run they were useful in maintaining exchange stability; and in the long run they enabled rapidly developing countries to satisfy their expanding currency requirements without checks due to inadequacy of gold reserves. This system was dominated by London and was profoundly influenced by British capital exports. The United States was a member of what was in effect a world-wide sterling exchange standard. We bought and sold gold at a fixed price in order to share with other countries the advantages of a confident international movement of long-term capital; in order to enjoy the benefits of an efficient and cheap machinery for financing international trade; and in order to avoid dislocations in our prices from trends established elsewhere. 2. During the first World War the foundations of this system were destroyed. Gold moved and credit was extended in total disregard of longrun consequences. The sharp distinction previously existing between the movement of gold and goods in international exchange was blurred. Gold ceased to be a purely financial instrument facilitating trade, and became part of trade itself. The aberration L Editor's note:-What will be the position of Gold in the post-war world? Will Hitler's somewhat hysterical cry that it will have no place as money prove to be an accurate prophecy? Or, as most American economists believe, will it regain its important functions as a general medium of exchange and a universal standard of value? Out of a total world reserve of some 30 billion dollars, the United States holds approximately 22 billion. In 1930, the total world reserve was 11 billion dollars, of which the United States held 4 billion. It is apparent from these figures that the problem of Gold is one that not only demands solution, but demands a solution by America. tablishing by international agreement some new system of exchange rates they embarked on a struggle to return to "Par with Gold." In the early stages of this struggle the United States became the sole effective buyer of gold for monetary purposes. For four years we exchanged goods for gold on an unprecedentedly large scale. All countries except the United States hoped that this would lead to gold inflation in the United States. But then, as now, our power to absorb gold was exceptionally great, and the inflation was delayed. 4. After 1924 the general "return to gold" brought other buyers with bids competitive with ours. But we did not occupy the same position in the international distribution of gold as we did prior to 1914. The former nearly world-wide sterling exchange standard had shrunk to a segment of the whole. The relative importance of London in influencing the world distribution of gold was much reduced. There was now an important "dollar area" existing within the framework of the international gold standard; and France, after 1926, attained a temporary position of great power. With Britain's abandonment of the gold standard, there developed a fierce battle to shift economic burdens both within was regarded as temporary, to be succeeded after the war by a restoration of the old order. 3. After the war, the gold content of the various standard monetary units as defined by prewar law ceased to have current significance. But statesmen and bankers did not think of replacing an obsolete international convention by a new one more suited to existing conditions. Instead of es IL TIDE WATER ASSOCIATED OIL COMPANY Refiners and Marketers of Flying -A~ Gasoline Tydol and Veedol Motor Oils Mabuhay Kerosene Avon Diesel Fuel Oil The Americcn Chamber of Commerce Journal Novemober, 19. lt 23

and between countries, the weapons being exchange depreciation, exchange control, deflation, repudiation of debts, tariff warfare, bilateral and barter trade, and devaluation of gold in some countries while others continued to make sacrifices to Par. 5. The general aim of the devaluation of the American dollar in 1934 and of the gold purchase policy which preceded it was to break the vicious circle of declining prices, to raise farm prices relative to other prices, and to cancel the advantages of British relative to American exports assumed to have followed the British abandonment of the gold standard. The use of gold in this way as an in strument of economic warfare had grave defects as strategy in the campaign for lasting economic stability and peace. It started the "golden avalanche," first by making gold imports the technical means for forcing the new system of exchange rates into existence, second by adding to the internal difficulties of France the element of grave uncertainty concerning the future of currency, and third by providing the greatest stimulus to increased gold production in history. A crisis in French finance provided the occasion for the sixth stage in the evolution of America's relationship to the international distribution of gold. 6. In the autumn of 1936 the HALE TRAILER MOUNTED FIRE PUMP AS ILLUSTRATED AVAILABLE FOR IMMEDIATE DELIVERY FROM STOCK ii United States obtained British consent to a French devaluation without retaliatory action on the part of England and the United States. A tripartite agreement was negotiated, avoiding permanent commitments to any given system of rates. This wvas not regarded as a return to gold. Yet, in a sense, the stabilization was dependent on gold, for without the buying and selling of gold it would not have been technically workable. Under this agreement gold became a generally acceptable asset which could be exchanged at an agreed price, thus providing a means whereby the financial authorities of a country with a weak exchange could strengthen their position. This principle was later extended to include Belgium, Holland, and Switzerland. Under this system the United States continued to receive gold for three years at the rate of about one billion and a half dollars a year. The situation of 1919 to 1924 seemed to be reestablished. This gold inflow may to some extent have stimulated productive effort in the making of export goods. It fitted in well with the philosophy of our government in providing cheap and abundant supplies of money. On the other hand it gave rise to difficult banking problems and was a potential inflationary threat. We had become the central cog in a machine that maintained, in a period of unexampled crisis, a very considerable degree of stability in exchange rates and preserved free exchanges in a large part of the world. Had this time of chronic crisis been followed by peace rather than by war, gold might have resumed its useful service as a balancing item in international exchanges under the mechanism then in force. 7. We recently have been buying gold chiefly because it is something which Great Britain could offer us in exchange for war materials. Though a considerable part of our exceptionally large gold imports in 1939 and 1940 was sent to us for safekeeping and is held under earmark, the golden avalanche is, in the main, resolving itself into a gigantic exchange of goods for gold. Gold has once more, for the time being, lost its character of a financial instrument in interna tional trade and has become a type of merchandise which we accept at a certain price on grounds of high national policy. AN EIGHTH WAY OF DISTRIBUTING GOLD The question now to be resolved is: "In the world as it is likely to be organized after this war, will gold be HALE TRAILER MOUNTED FIRE PUMP 500 GPM AT 120 LBS. PRESSURE WITH FORD V-8 ENGINE, 85 HP. Sole Agents KOPPEL (PHILIPPINES) INCORPORATED Ioilo, MANILA Cebu 24 7Th.e American Chamber of Commerce Journal November, 19.i 1

able to perform a genuine service as money that no other means can render as well or better?" With the end of this war, the United States will have to accept the fact that in international affairs the policy of exchanging goods for gold can no longer serve a useful purpose. There will be in operation a nearly world-wide system of exchange controls covering both goods and capital transactions. The essence of these controls is that exporters are obliged to surrender the proceeds of their exports to government authorities, who distribute them to importers in the order of the urgency of their imports. The character and amount of American exports will be determined, not by the quality and price of the services which we can render, but by the decisions of governmental authorities elsewhere. The question of payment will be extremely difficult. The economic difficulties arising from this situation will probably be met in part by the formation of larger economic units than those defined by prewar national boundaries. Trade will be controlled and the rule will be applied that those who will not buy cannot sell. From a long-run point of view it will be to the interest of all countries to substitute for the detailed control of individual items entering into in ternational trade a more flexible and more general type of exchange control, thus releasing the individual importer as much as possible from a rigid system of priorities, and the individual exporter from uncertainty as to his ability to convert the proceeds of his shipments into his own currency. Gold clearing between the large economic units is an appropriate instrument for accomplishing such a purpose. The techniques worked out from 1934 to 1938 can probably be adapted to provide it if the nations decide that exchange stability between the larger currencies at agreed rates is preferable to official control over the proceeds of exports or to violently fluctuating exchanges. There will then be a technical place for gold in the financing of international trade; for a general stabilization of exchange would be extremely difficult unless the control authorities were able to convert foreign credit balances into some generally acceptable asset. The Stock Markets depreciating asset, but even its declining purchasing power is so far an insufficient inducement to exchange its liquidity for stocks when faced with other and more dread prospects. During the past few days, the Industrial average confirmed the previous movement of the Rail indicator by declining through 124.90. This confirms the secondary trend as downwards, and it now remains to be seen whether both averages can hold above 115.30 and 26.54. While late volume indications have been more bearish than bullish, activity accompanying the downside penetration of the preceding three months Continued from page 20 dity prices, and the rising cost of living in the U.S. Cash under the present outlook is a CUMMINS "DEPENDABLE" DIESELS Cummins-Diesel Model HGD-601, Capacity 45 to 50 kilowatts DIESEL GENERATING SETS Alternating Current or Direct Current Capacities from 15 to 100 kilowatts Sales and Service by C.M.LOVSTED & CO. 215 Thirteenth Street, Port Area, Manila P. 0. Box 1193 Phone 2-35-19 I L NO SQUAWKS, No GRUNTS In your car Our "neighborhood car care" service is much more than a lubrication job. Squeaks, squawks, grunts, all such "bugs" are neatly eliminated-without extra cost. NO SQUEAKS, And you can expect a lot more from us in the service line-including complete travel data -free. Right here at our station we've got what it takes to make your driving safe, smooth, pleasurable. Call on us today. (SHEL SHELLOUBRICATION SERVICE STATIONS Taft & Herran.............Tel. -756-22 Luneta......................Tel. 2-11-31 Ayala Bridge................Tel. 2-10-25 Calle Morayta..............Tel. 2-40-39 Also in Baguio -o0o — THE ASIATIC PETROLEUM CO. (P. I.) LTD. P. 0. Box 441 Tel. 2-26541 MANILA l The Amnerican Chamber of Commerce Journal November, 1941 25

very narrow trading range has not accelerated. This at least is a negatively favorable factor. In our opinion, joint penetration of 115.30 and 26.54 on any considerable increase in activity would require to be observed with considerable misgivings by investors, as it would probably indicate a further decline of some extent. Facts-Plain And... Continued from page 13 Part," and "Philippines, Southeastern Part." Seven additional charts cover the country from Southwestern Luzon down to the Sulu Archipelago. These are on a scale of 1:400,000. These charts give water depths in fathoms, and land elevations in feet. The 12 charts are sold at a uniform price of P1.50 each. Next in the catalogue comes a list of 152 Coast and Harbor Charts. These vary in scale from 1:2,000 (for Culion Landing) to 1:200,000. The majority are from 1:10,000 to 1:40,000. The prices also vary from 50 centavos (for "Harbors on the Northeast Coast of Luzon") to P1.50 (for the "Pasig River, Luzon Island"). Most of them sell at the latter price. There is one Aeronautical Chart which covers Southern Luzon and Northern Visayas on a scale of 1:600,000 (price, P1.50) and a Strip Airway Map which runs from San Jose, Mindoro through Iloilo to Malabang, on a scale of 1:500,000 (price, P1.00). The latter was made in 1934 however, and is probably outof-date. Eight additional and up-to date Aeronautical Charts will be completed in the near future. The military authorities have not decided yet whether these charts will be available for purchase by the public. Last, but not least, there are 17 Topographic Maps and 4 Outline Maps. The topographic maps are printed in colors, and are kept thoroughly up-to-date, the one for Southern Luzon (central sheet) having been revised in 1940. All features of the topography are clearly delineated, rivers, creeks, marshes, plateaus, mountains, lakes, roads, etc. Fifteen of them are on a scale of 1:200,000. Mindanao is given on a scale of 1:600,000, and the Philippine Islands on a scale of 1:1,000,000. The prices range from P1.00 (for Masbate) to P3.00 (for Samar, or Central Luzon, etc.) and P4.00 for the Philippine Islands in 4 sheets. * * * Soil Survey Reports By Provinces Before leaving the subject of maps, attention should be called to the excellent Soil Survey Reports of individual provinces that are appearing under the authorship of Messrs. Alicante, Rosell, Marfori, Hernandez, and Isidro of the Division of Soil Survey. These reports are being published by the Department of Agriculture and Commerce, and can be secured from the Division of Publications of that department at the nominal cost of 6 centavos each (for postage). Eight of these reports have been published to date, covering the provinces of Bulacan, Rizal, Cavite, Batangas, Pampanga, Tarlac, Pangasinan, and Nueva Ecija. Each report contains an excellent soil map of the province in colors. The maps come from the U. S. Coast and Geodetic Survey. They are on a scale of 1:100,000 and give you practically complete information as to the nature of the soil in various parts of each province. They also show municipalities, barrios, roads, rivers, and lakes. The report on the province gives brief discussions of the history of the province, its agriculture, climate, physiography and geology, etc. The reports are pamphlet size. The map is folded into a special pocket at the back of each report. * * * Mineral Resources Of The Philippines For The Years 1934-1938 This is also called Technical Bulletin 13 of the Department of Agriculture and Commerce. The last previous bulletin on this subject was published in 1936, and covered the years 1926 to 1933. This bulletin begins with the year 1933 and extends through the first quarter of 1939. It is divided into two separate parts, Part I being sub-titled "Gold Mines," and Part II being sub-titled "Base Metals and Nonmetallics." In size, the two parts are a bit larger than the usual bulletin, measuring 71,/ inches by 101/4 inches. Part I sells for P1.20, and Part II for P1.30. They may be ordered from the Division of Publications, Department of Agriculture and Commerce, Manila. Part I, Gold Mines is 135 pages long. It contains sketch maps of the chief gold producing areas, and ten text figures, which are either graphs or tables. There is a brief 5 page introduction to the general subject of the gold mining industry in the Philippines. Major emphasis is given to the five most important mining districts, Mountain Province, Paracale, Masbate, Surigao, and Central Luzon. Brief, but separate and distinct notice is paid to Zamboanga, Davao, Camarines Sur, and Leyte. The property and operations of each producing mine is described in some detail. There is a table of contents for the material, but no index. Part II, Base Metals and Nonmetallics is 156 pages long. There are 9 illustrations, 8 of which are maps, and 36 tables. The material is divided into 7 sections. First comes the section on Iron and Steel (28 pages). Then follow Copper (24 pages), Manganese (28 pages), Chromite (12 pages), Fuel Minerals (15 pages), Gypsum (5 pages), and Structural Materials (24 pages). William F. Boericke and Nestorio:U 26 The American Chamber of COonmerce Journal November, 19.' (

N. Lim were the authors of Part I (Gold Mines) and of the sections on Copper and Manganese in Part II. The sections on Iron and Steel and Chromite in Part II were written by Dean F. Frasche. The article on Coal was contributed by R. C. Fleming, the one on Petroleum by H. Foster Bain (both being part of the section on Fuel Minerals in Part II). Ramon Abarquez wrote the sections on Gypsum and Structural Materials. Directory Of Industrial Establishments Of The Philippines (1940-1941) This directory was compiled by the Commercial Division of the Bureau of Commerce, and can be purchased from the Division of Publications of the Department of Agriculture and Commerce. The names and addresses of "reliable industrial establishments of the Philippines" are listed in alphabetic order under a comprehensive system of classification, from "Abaca Cloth" to "Zippers." The directory is 120 pages long and costs P1.00. The classifications of "Dressmakers," "Electric Light Plants," "Drug Stores," and "Furniture" seem to contain the most names, of the approximately 150 classifications given. (To BE CONTINUED) and efficiency of the service they maintained soon led to the fulfilment of their intentions. When November 15, 1941 comes, these clippers will have completed 545 crossings of the Pacific Ocean, and the Anzac Clipper should be en route on the 546th crossing, which means an average of 90 crossings, or 45 round trips, per year. The postal authorities consider a scheduled flight as completed when it arrives at destination before the next fastest means of transportation. On this basis, Pan American clippers have made a record of more than 90% of scheduled flights completed on the Pacific run during the six years of operation. Can more be said regarding "dependability" and "efficiency"? To all of us -who have either personal or commercial interests in America, clipper mail service has become commonplace. To the community as a whole, it has become as necessary almost as the telephone, radio, or cable. To some members of the community, the passenger service has become just as essential. Pan American's list of "clipper commuters" from the Philippines is a growing one. At this writing top place is held by Dr. Hilario Moncado with 14 crossings. Next come Major J. E. H. Stevenot and Mr. Grant Corby with 10 crossings each, followed by Mrs. Ina Ohnick, Don Andres Soriano, and Mr. J. Arthur Duff with 6 crossings each. During the first several months of passenger More Wings For... Continued from page 7 and commerce are quick to follow in the path of improved means of transportation and communication. It may be confidently expected therefore that Manila's trade with her sister cities, Hong Kong and Singapore, will be stimulated by this inmproved service. It was only six years ago that clipper service was extended to the Orient. That first flight of the China Clipper in November, 1936 (following on the heels of the inauguration of the Commonwealth) was drama indeed. Her progress across the great stretches of the Pacific was followed with breathless interest. People marvelled and stood amazed at the smooth perfection of the performance. But quickly and quietly, Pan American proceeded to "dedramatize" their service. They intended that clipper passage, clipper mail, clipper express should become commonplace but integral parts of our everyday commercial lives and activities. And the dependability. The American Chamber of Commerce Journal November, 1941 27

operations, loads were very light, four or five passengers per crossing being considered good. But today even the large Boeings are transporting capacity loads-often between 30 and 40 passengers between Manila and the United States, and as many as 57 passengers on the short run between Manila and Hong Kong. Passenger travel has increased to such an extent that the company reports that its Clippers have flown approximately 17 million passenger -miles across the North Pacific during the past twelve months. This does not include the flights to New Zealand, or the local service between Honolulu and San Francisco. Mail and express loads have developed proportionately. During the first year, clippers often left Manila with 150 pounds of mail and 40 pounds of express. On a recent trip (which was not exceptional) one of the big clippers carried with her over a ton of mail (2,807 pounds to be exact) and half a ton of express. According to Customs reports, the value of the imports and exports carried by clippers during 1937 was, P94,660. Compare with this the figure for 1940-P225,990. Embroidery firms and indent houses have found the air express service invaluable. The increased speed with which samples, patterns, There was a man in our town, And he was wondrous wise, He swore (it was his policy) He would not advertise. But one day he did advertise And thereby hangs a tale, The "ad" was set in quite small type And headed "Sheriff's Sale". etc. can be transported from one side of the ocean to the other has proved of great help to them. But samples and patterns are not the only things carried. A recent outward express manifest is five pages long and lists a variety of products that reminds the reader of Masefield's poem, "Cargoes." Here are a few items picked at random:-buntal hats, snakeskin billfolders, gum copal sample, one vanity case, master phonograph records, bamboo rakes, candy, pifia luncheon sets, artificial eye sample, wood carvings, earrings, shell pins, etc., etc. Bound for Honolulu on the same ship were exposed and undeveloped camera films, 3 pairs of silk stockings, and (of all things!) $40 worth of Russian caviar. To Wake Island went $400 worth of Philippine assorted merchandise; and to Guam, almost $400 worth of coca-cola concentrate. An incoming manifest of recent date is fully as long, and lists an equal variety of items-cork gaskets, radio tubes, liver extract, pharmaceuticals, engine parts, two bell cranks, internal combustion parts, sulfathiazole, ice making equipment, 149 watches, and samples and printed matter, and samples and printed matter, again and again. At this anniversary time, it is but fitting that we of Manila should add our modest word of appreciation to the universal applause that time and again has greeted the growing accomplishments of Pan American Airways. Working quietly but efficiently, concentrating always on the most important factor, safety, with no bombast nor spectacular publicity, they have built for us a system ot transportation and communications that of its kind is unexcelled throughout the world. According to the Census of 1939, the center of population in the Philippines lies inside the eastern border of the municipality of Magdiwang on the island of Sibuyan. For the first time the center of population appears on dry land, the two previous censuses having fixed it in the Sibuyan Sea. Since 1903, the center of population has moved steadily to the east and to the south (34.5 miles to the south, and 14 miles to the east). The southward movement has slowed down considerably, the average rate since 1918 being.6 miles per year which is less than half the average rate during the period from 1903 to 1918 (1.4 miles per year). The movement east has continued at a pretty constant average rate of approximately.4 miles per year. i II I I _ 28 The American Chamber of Commerce Journal November, 1941 (

What About Silk? This question, "What about silk?" has always dominated every discussion concerning the possible effects of a complete stoppage of trade relations between the United States and Japan. And rightfully so, for in recent years silk has accounted for about two-thirds of the total value of American imports from Japan. Furthermore, this $100,000,000 trade has constituted the basis for a large and important American industry, the hosiery industry which regularly employs some 100,000 workers. Whereas in the past the question has been of a purely theoretical character, recent developments in AmericanJapanese trade relations have given it a practical importance of considerable urgency. For the answer, we can fortunately turn to a recent study by the United States Tariff Commission ("United States Imports From Japan") and to the September bulletin of the National City Bank of New York, from which sources we glean the following information. The Army and Navy Munitions Board classifies silk as one of the 14 strategic raw materials. The mflitary value of raw silk lies in its use in the manufacture of parachute cloth. Data is not available as to the number of parachutes already at the disposal of the army and navy air forces; however, at the time of the freezing order, domestic warehouse stocks of silk amounted to approximately 50,000 bales, sufficient for the manufacture of some half a million parachutes. Substitutes for silk, the most notable being nylon, can also be used in making parachute cloth. Silk waste has long been used in the fabrication of cartridge igniter cloth and gun-powder bag cloth. Cloth for such uses must burn quickly and completely, leaving no hard residue. However, in August of this year, the U. S. Army announced that processes have been developed which enable the use of cotton, wool, and mohair in the manufacture of most powder bags. So far as the defense program is concerned, it appears that the effects of a complete stoppage of silk trade would not be of great importance. But when we consider domestic American industry, the picture is somewhat different. In recent years, 80% or more of the imports of Japanese silk into the United States have gone into the manufacture of hosiery. In 1940, of the 500 million pairs of full-fashioned hosiery manufactured in the United States, only 1 %c was of cotton, rayon, or mix tures. While it is true that substitutes for silk can be used in this industry, it is likewise true that at the present these substitutes are not available in sufficient quantities to preserve the hosiery industry. Rayon yarn plants are already operating at full capacity, a large percentage of their products being used in the allimportant defense program. And the productive capacity for cotton yarn sufficiently fine to make sheer hose is very limited. Consequently sharp reductions in employment in the silkthrowing and hosiery industries appear inevitable for at least the immediate future. The picture, both for the defense program and for domestic industry, would be far gloomier were it not for the recent development of successful substitutes for silk, the most notable of which is Du Pont's new product, Nylon. According to the report of the Tariff Commission mentioned above, it is to this unusual synthetic product that we must turn for the solution of most of the problems arising from the cessation of silk imports, for nylon can take the place of silk in the manufacture of parachutes and of full-fashioned hosiery. The only difficulty lies in the present limited productive capacity, and steps are being taken to remedy that. Commercial production of Nylon was commenced in 1938 but did not assume important proportions until the completion in December, 1939 of a new eight million dollar plant near Seaford, Delaware. This plant, however, with a full operating capacity of eight million pounds a year can supply yarn for the manufacture of not more than 25 % to 30 %o of the normal annual output of full-fashioned hosiery. However, a second plant is already in process of construction in Martinsville, Virginia. This plant will commence production before the end of the year, and will attain its full capacity of eight million pounds a year by this time next year. The two plants combined will give employment to more than 2,000 workers. Nylon is truly a wonder product. To say that it is made of coal, air, and water sounds like a fairy tale. But that is the case. First known as fibre "66" its discovery came after ten years of arduous research in the laboratories of E. I. du Pont de Nemours & Co. It was the first fibre made entirely from materials of the mineral kingdom, other synthetic fibres being constructed partly from the raw materials of the animal and vegetable kingdoms. While silk is the most important item in the list of American imports from Japan, the U. S. Tariff Commission analyzes many other import items with relation to the defense program and the economy of the United States. Listed in order of importance, these other items are "Fish and Fish Products," "Cotton Goods," "Chemicals," "Porcelains," "Teas," etc. The final conclusions as to the The Amnerican Chamber of Commerce Journal November, 1941 29

effects likely to follow a complete cessation of imports from Japan are summarized as follows: "1. The aggregate effect on the economy of the country as a whole would be slight. "2. The United States defense program would not be interfered with to any appreciable degree. "3. The health of the population would not be affected. "4. Certain domestic industries would be adversely affected, while certain other domestic industries (fish canneries and the manufacture of electric lamps, for example) would be benefited. Most of the resulting unemployment would probably be short-lived because of the increased demand for labor in those industries that would benefit. "5. Public interest might require that the government take measures both to facilitate necessary readjustments and to prevent unwarranted increases in prices by those domestic industries which are in a position to profit from the stoppage of imports from Japan." Movements of Mining... Continued from page 2.1 George Scholey, who arrived some time ago by clipper from the United States, has decided to remain in the Philippines until later in the year before returning to the United States. He has been actively engaged in visiting the various Nielson mining operations and in particular, with L. R. Nielson, he inspected the Gomoco gold mine in Agusan, Mindanao. * * * Mark Hubbard ha-s; resigned his position as general superintendent of the Capsay mine in Masbate, and accepted a position with the Soriano interests. He left for Cagayan, Oriental Misamis to inspect the new chromite deposits there. His place at Capsay has been filled by L. L. Kerkley. A. C. Skerl, chief geologist of Masbate Consolidated, who has spent several months in Cagayan directing exploration and development work on the chromite deposits near Manticao, has returned to Masbate. OBITUARY Wallace A. Coltrin, for many years mine foreman at the San Mauricio mine in Paracale, was killed by a cave-in on Oct. 19, at Mariveles, where he had been engaged immediately after his leaving San Mauricio. Mr. Coltrin was one of the best known and most respected mining engineers in the Philippines, and his death is mourned by the whole engineering fraternity. - ___ ____ _ Scese 0 0 e~~ed oftsee The Market Guide for the Philippine Islands sales, credit, and collection work. will aid you in all 1941 Edition Fully lists 1,510 active business firms in all parts of the Philippines, giving complete name, address, and line of business. Each listing rated as to capital and credit, based on information and ledger experience compiled during our 20 years' activity in serving American exporters. ~ — $15 U.S. - Thousands of manufacturers and exporters of the United States and Canada have found our Market Guides, which we have published for 20 years covering Latin America and other markets, indispensable in the careful planning and handling of their sales. If desired, we will gladly send you, without obligation, full particulars and specimen page of our Guide. AMERliCAN FOREIGN CREDIT UNDERWRITERS 84 William Street New York, N. Y. I -~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The Civilian Conservation Corps And National Defense In a rousing front page editorial, a recent issue of the National Tribune (which speaks weekly for the powerful veterans' organizations of the U.S.A.) calls for a molre vital role in national defense for the CCC. This is not a new stand for the veterans' organizations to take. From the very inception of the government's organization for the young men of America, the veterans have not only supported it to the fullest possible extent but have also waged a consistent campaign for military training in all the CCC camps. This particular editorial was occasioned by a recent move on the part of the government in the "right direction." In August of this yea~r, Director McEntee of the CCC ordered that the CCC boys be given 15 minutes a day of simple close order dirill, five days a week, without arms. This, says the National Tribune, is not adequate, and states its position in the matter as follows: "In the past there has been some real argument against military training for the lads in forest-green uniform... It was believed that the inclusion of the manual of arms was not the most effective method of attracting young men in the conservation service... Calisthenics and marching would furnish a good substitute... "There was then no form of compulsory selective service. The cost of erecting firing i I 30 The American Chamber of Commerce Journal November, 1941 (

ranges was involved. The boys were under civilian, not military control... "These arguments are now out of date... On Aug. 18 President Roosevelt signed a declaration of Congress that the Nation is in peril... (and) held in the service for another year and a half selectees (already in service). On the same day the President approved legislation that will release from the armed services men who were 28 years of age... At about the same hour, Secretary Wickard announced that... CCC boys would be released to farms where there is a labor shortage... "The veterans' organizations wish to point out emphatically that there appear to be other shortages in the offing. Important ones are a shortage of manpower for the national defense, and a shortage of the will to bear arms for the country which has nurtured a few millions of today's eligibles. The men who have already given themselves to their country ijl its hour of need believe that the time has come to short-cut arguments and teach the CCC how to handle a rifle... "The country's ex-service men suggest that the getting away from mob formation is fine. The McEntee order means primary training in discipline, order, sanitation, and basic health needs... Mr. McEntee believes that the training now ordered will give the boys a better chance of survival if they are later called to bear arms... If he wants to give these boys a better chance... let us teach them more than the elements of infantry drill regulations for a few minutes a day. And let us put that training in charge of competent officers... Sugar Market Report tember on rumours that the U.S. and U.K. were negotiating for the purchase of the whole of the next Cuban crop. The lack of developments to follow up these rumours caused a falling off in quotations, and at the close, the January quotation was 2.38c'. Prices for Cuban sugar for world distribution have also risen further, the highest point reached being 2.180 f.o.b. to the U.K. and Spain; however, further sales appear unlikely due to the diminishing quantity of Cubas available to the world market. There have been no further developments regarding any change in the Cuban duty or in the price ceiling. Notwithstanding the large sale of 275,000 tons of Cubas to East Coast refiners advised in our previous report, there has been a shortage of shipping space and very little of this sugar was delivered; at least two Gulf refiners are reported to have had to suspend operations, and it is feared that this development may extend to some of the plants north of Hatteras. It was, however, announced on October 15th that a large vessel would load in the near future against the above-mentioned contract, the space having been released specifically therefor by the U.S. Maritime Commission. There is no change in the refined sugar price situation, and the demand continues in substantial volume. It is reported that the third and last Philadelphia refinery has now resumed operations after the strike. Quotations on the No. 3 Contract on the Exchange fluctuated as follows during the period: ing the period amounted to 11,600 long tons on the basis of 3.50~ minimum, all of this sugar being afloat at time of sale. No transactions in export sugar are reported locally during the period. There has been a sharp rise in quotations for domestic consumption sugar, and at the end of September, dealers were paying P4.30 per picul for mill-run centrifugals, up about thirty centavos since our last report. Considerable interest was evinced by Manila buyers, which seems to have been due chiefly to speculative buying, since there is no apparent statistical basis for optimism. During the first half of October, however, interest waned, and at the close of the period buyers have retired completely. One other contributory cause of the buying interest was the temporary shortage of interisland freight space. Dealers by now, however, are filled up with stocks and contracts not yet arrived, and appear unwilling to increase their commitments-mostly made at the advanced prices which had ruled. Exports to the United States during the month of September amounted to 26,864 tons, chiefly the result of shipments on vessels allocated to the trade by the U.S. Maritime Commission to assist those shippers who suffered from the cancellations of freight contracts made at the Commission's request last June. It is now expected that the Philippine quota will only be short about 75,000 tons. Though this is not a happy result, it is at least an improvement on fears earlier expressed that the shortage would amount to between 100,000 and 150,000 tons. Total shipments from November 1st, 1940 to September 30th, 1941 are as follows:Centrifugals......... 696,268 tons Refined............ 43,225 " Total........ 739,493 tons. September...... January....... March......... M ay........... July........... Low 2.600 2.780 2.76~ 2.78~ 2.82( High 2.750 2.950 2.930 2.950 3.03~ Latest 2.880 2.85, 2.81~ 2.85~ Reported sales of Philippine sugar dur (September 16th to October 15th,.1941) By Warner, Barnes & Co., Ltd. Dull conditions in the New York market as regards duty-free sugars have continued throughout this period, chiefly due to the shortage of carrying vessels. A certain amount of Philippine sugar has, however, been sold at intervals on the basis of a guaranteed minimum price of 3.500 (the ceiling price) with such concessions as absorption of insurance premiums and ability to fix an amended price in the event the ceiling is raised or removed. Reports are also circulated of Puerto Rican sugars offering for November/December shipment. Transactions in the No. 3 Contract on the Exchange have been very small, and on several days no business was done. On the other hand, interest in the No. 4 Contract on the Exchange has continued and transactions have been fairly heavy throughout the whole of the period. Opening at 2.101/2~, the January position in the No. 4 Contract rose to a high of 2.60~ at the end of Sep L- PHILIPPINE TRUST COMPANY sells drafts and cable or radio transfers for the payment of money anywhere in the United States, the principal cities of Europe, China and Japan. It receives checking accounts in Pesos, Savings Accounts in Pesos or United States Dollars, Fixed Deposits and Trust Accounts. FIDELITY AND SUREIY COMPANY OF IHE PHILIPPINE ISLANDS executes and covers I BONDS Court, Customs, Firearm, etc. Plaza Goiti and Escolta INSURANCE Fire, Life, Marine, etc. P. 0. Box 150 Tel. 2-12-55 I II The American Chamber of Commerce Journal November, 1941 31

1- - M Copra And Its Products (Report for the month of September, 1941) By Kenneth B. Day & Leo Schnurmacher The copra market continued to improve during the month of September, and the month closed at the best quotation which has been seen during the present year. COPRA-Copra arrivals were heavy, especially in Manila, where arrivals surpassed all previous records for any one month by a wide margin. Arrivals in Manila were 43% over August and 74% over arrivals of September, 1940. In Cebu, arrivals were 16% over August and 35% over September of last year. The improvement in copra prices was fairly constant throughout the month and at the close of September P11.50 per 100 Leo Schnurmacher Kenneth B. Day kilos resecada was available. Considerable sales were made periodically all along the rise. Some additional shipping space for copra became available during the month, which helped the improvement of the market although most of this space was for shipment during the last quarter of the year. The Pacific Coast copra market also improved during the month from a nominal low of $3.00 at the beginning to $3.40 towards the close in "buyer's space". For "seller's space" prices ranged from $3.85 to $4.25. Copra shipments were light and over 70% of the shipments were from the port I' I of Cebu. During September, more shipping space for copra was arranged than had been available. Most of this space will be for shipment from Cebu, although it s stated that some will be for shipment from outports. It will be noted that one shipment of copra was made during September to Vladivostok, but there is no definite information as to whether a regular movement will develop in this direction. Statistics for the month follow:Arrivals: Sacks Manila................... 839,794 Cebu..................... 518,244 Shipments: Metric Tons Pacific Coast........... 15,272 Vladivostok............. 1,484 Total........... 16,756 Beginning End of of month month Stocks on hand: Tons Tons Manila.......... 33,441 50,457 Cebu............ 31,042 37,857 COCONUT OIL-The coconut oil market on the Atlantic Coast improved, but trading has become very irregular as it is becoming exceedingly difficult to secure Atlantic Coast space. Prices vary considerably according to the position of sales, with premium for spot deliveries. Quotations ranged from 6-3/4 cents per lb. c.i.f. Atlantic Coast to perhaps 7-1/4 cents. On the Pacific Coast, trading is more regular and prices ranged from 6 cents to 6-1/2 cents per lb. f.o.b. tank cars during the month. Statistics for the month follow:Shipments: Metric Tons Pacific Coast............. 3,732 Atlantic Coast............ 8,608 Other Countries.......... 346 Total........... 12,686 Beginning End of of month month Stocks on hand: Tons Tons Manila and Cebu. 21,420 27,323 COPRA CAKE AND MEAL-The market for copra cake and meal remained practically unchanged. This product commands approximately $35.00 per short ton c.i.f. Los Angeles, with San Francisco offering perhaps $3.00 per ton less, but as space for this product is limited, the Pacific Coast values have little effect on the local market. There were some small sales made during the month to the Pacific Coast, but more meal was sold for local use as fuel and fertilizer at nominal values. Statistics for the month follow: Shipments: Tons Pacific Coast................ 1,598 China and Japan............ 254 Total................... 1,852 Beginning End of of month month Stocks on hand: Tons Tons Manila and Cebu.. 14,100 14,942 DESICCATED COCONUT-Conditions remain unchanged for desiccated coconut. All desiccators are working at full capacity. Shipments for September totalled 7,475 metric tons, which is a record shipment for the Philippines. While desiccators are securing all the nuts that they need to continue full operation, the advanced price of copra has made their business much less attractive, as desiccated values in the United States have not risen to correspond with the cost of raw material. GENERAL-While the month of September showed a better average value for copra than we have seen during the year, the outlook at the close of September was distinctly unfavorable. The increase in price has come precisely during the period of very heavy production and there is apparently no possible means of moving the crop in its entirety. While copra production is expected to ease off considerably during the last three months of the year, there is ample copra still to come in, as shipments from outports are still practically non-existent and interisland vessels have been overloaded and unable to carry 'he copra offered for shipment to Manila and Cebu. Although copra arrivals during September are the heaviest of record, there are large stocks of copra in provincial warehouses awaiting shipment as soon as space can be obtained, and it is expected that heavy arrivals will continue for at least a month, and probably for a longer period. ROOSEVELT STEAMSHIP AGENCY, INC. REPRESENTING Kerr Steamship Co., Inc. New York Silver Line, Ltd. London Java Pacific Line Batavia Leif Hoegh A/S New York Operating the Following Services: KERR-SILVER RIound The World Service (Philippines to U. S. Atlantic Coast Ports via Panama Canal) SILVER JAVA PACIFIC LINE (Philippines to U. S. Pacific Coast, also to Java, Straits Settlements, Bombay, Persian Gulf and Calcutta) Trade f 2-15-21 & Tels. 2-15-22 Commerce Bldg. i 2-15-23 MANILA IL Soulhern Islands Cpuises Cebu-Dunlaguete-Zamboanga Cotabato-Jolo Twelve days through the Sulu Sea P112.50 Sailing Every Thursday New m/s. Elcano-m/s. Legazpi EVERETT STEAMSHIP CORP. 223 Dasmarifias Manila, P. I. Phone 4-98-91 A f 32 The American Chamber of Commerce Journal November, 1941

Rice Review however, it is expected that the supply will be more liberal and may afford relief to the present situation. Arrivals in Manila (September,.1941) By Dr. V. Buencamino Manager, National Rice & Corn Corp. The month under review wit-. s i i nessed important developments. In line with the usual statistical have advanced much further were it not for the stabilizing influence exerted by the National Rice and Corn Corporation as well as the price control being enforced by the Emergency Control Administration. In spite of these restraining influences, however, there was a persistent tendency for prices to advance. The situation was bolstered by reports of a very thin supply both in the primary sources and in centers of trade and distribution. While the prospects for the early crop appear quite favorable, this would not be available in commercial quantities until about the first week of November. It is anticipated in well-informed circles that there would be further tightening of the situation with the consequent hardening of prices during October. While every effort is being done by the various agencies of the Government to keep prices within the limits fixed by the Executive Order, we understand that violations are being committed which, however, have been looked into and proper action taken. The month opened quiet with second class macan selling at from P6.05 to P6.10 in the open market, compared with NARIC price for the same quality of P6.00. Under the old Executive Order then in force, second class macan should not sell beyond P6.10. Before the first week was over, prices moved to P6.20, then to P6.30, about the middle of the month. Meantime, the NARIC continued to sell at P6.00, but in view of the fact that the sale of NARIC rice was confined to nationals, and in limited quantities, it could not control prices in the open market very effectively. As the month was drawing to its close, further gains were made the peak having been reached at the end, with second class macan hitting P6.40 per sack. This price was thirty centavos in excess of the maximum fixed in the Schedules of the Executive Order. We understand that the supply of macan and other ordinary varieties is unusually scarce. Certain sections of the country are begin ning to harvest limited quantities of the early crops. The supply, however, is consumed mainly in the producing localities and cannot be moved to the consuming areas as yet. By the first week of November, Month September, 1941 September, 1940 August, 1941 Rail 117,881 130,422 190,485 Water 22,913 1,107 22,710 Total 140,794 131,529 213,195 September, 1941................ 83,859 August, 1941................... 65,480 PALAY According to reliable reports, the supply of palay in the primary sources is almost exhausted. What little remains is milled and consumed right in the producing areas. Very little is destined for the consuming centers. We have heard of sales reaching as high as P3.20 for macan and P3.50 for elon-elon, which, certainly, are above the parity of rice prices in Manila. Shipments to provinces by water Month Quantity September, 1941............... 68,862 D 11 'p I ~ - - M - - The American Chamber of Commerce Journal November, 1941 33

Tobacco Review (September, 1941) -By Alhambra Cigar & Cig. Mfg. Co. TOBACCO: The market in local grades was very quiet. Shipments abroad continued in small volume. No improvement in this situation may be expected, there remaining only some 300,000 kilos to fill the 1941 United States quota of tobacco. Trade with other countries is either greatly restricted or impossible. Comparative export figues are: Indochina......... United States..... September 1941 August 1941 September 1940 January-September 1941 January-September 1940 19,125 121,577 176,879 1,093,316 244,097 3,296,392 6,938,523 CIGARS: Shipments to the United States picked up somewhat. The unfilled balance on September 30th of the 1941 (full year) quota for the United States amounts to some 60,000,000 cigars. Comparative figures are: Manila Hemp By H. P. Strickler Manila Cordage Company The New York market remained firm throughout the entire month of September with practically no change in reported prices. The Government Procurement Division and Navy were the principal buyers. Local markets were exceptionally firm and prices advanced steadily, gaining from P.50 to P2.00 per picul over opening prices. Production is reported on the decrease with stocks on hand at the close of the month down 38,000 bales. NOMINAL PRICES OF LOOSE FIBER IN MANILA (Per Picul) Rawleaf, Stripped Tobacco' and Scraps Kilos China............. 33,177 Hong Kong........ 3,000 September 1941 August 1941 September 1940 January-September 1941 January-September 1940 Cigars 19,879,551 18,157,127 12,558,925 129,60; 148,04( 3,890 September 1st. ),412 F - P19.50 I 17.00 - J - 13.00 G 9.50 H 7.50 K 6.75 September 30th. F - P20.50 I - 18.00 J1 13.75 G - 10.25 H 7.50 K 7.00 Benegda le Se9ice & -2aaldt NOMINAL PRICES OF LOOSE FIBER IN DAVAO (Per Picul) O awe 54 zrcAc / September 1st. F - P20.25 I - 20.25 Ji - 19.25 G - 16.25 September 30th. F - P23.00 I - 22.50 J1 - 20.75 G - 17.50 A CARMELO & B'rUERMANN, INC. Jltw*. P ade'z. Pae4 L>( AMaVe44 Real Estate ~ By P. D. Carman Addition Hills and Boulevard Heights gdle gowew P cejjit 0 ~7i/e Pzk4k 4 Luzon Stevedoring Co., Inc. Lightering, Marine Contractors Towboats, Launches, Waterboats Shipbuilders a n d Provisions SIMMIE & GRILK Phone 2-16-61 MANILA Port Area A~~~ September trans f e rs exceeded those of August and September of last year although lacking many very large individual transactions. Strong-material construction in the City of Manila was valued at P530,780 in September and P584,920 in September J of last year. Sales City of Manila 1941 August September P 199,868 P 524,960 270,808 120,913 206,001 120,054 293,500 4,001 1,762 61,500 124,424 134,284 174,168 31,190 242,513 52,251 60,787 Sta. Cruz........ Sampaloc....... Tondo........... Binondo........ San Nicolas..... Ermita....... Malate.......... Paco............ Sta. Ana....... I! I [Continued on page 36] / 34 The American Chamber of Commerce Journal November, 1941

COMPARATIVE VALUES OF PRINCIPAL GROUPS OF EXPORTS DURING SEPTEMBER 1941 WITH AUGUST 1941 AND SEPTEMBER 1940 COMPARATIVE VALUES OF PRINCIPAL GROUPS OF IMPORTS DURING SEPTEMBER 1941 WITH AUGUST 1941 AND SEPTEMBER 1940. ---1-~~~-:~-~~~-I Ier e _ i I I 1941 Article Group September (Pesos) August (Pesos) Per cent increase Se or decrease September over (Pesos) Sept. 1940 Article Group TOTAL EXPORTS.......... Minerals and metals, total....... Coconuts, coconut oil, copra and other coconut products, total Fibers and manufactures, total Sugar and related products, total Cotton, textiles, embroideries, and miscellaneous fiber products, total......................... Tobacco and manufactures, total Logs. timber and lumber, total Fruits and preparations, total... Rubber and manufactures, total. Fish and fish products, total..... Animal products, inedible, total.. Soap and toilet preparations, total Wood, bamboo, reed and rattan manufactures, total........... Miscellaneous, total.............. Gums and resins, total.......... Beverages, wines and liquors, total Grains and preparations, total... Nuts, total....................... Oils other than coconut, total... Herbs, leaves, and roots, crude, total........................... Animals, edible, total............ Medicinal and pharmaceutical preparations, total................ Other animals and animal products......................... Vegetable and preparations, total Seeds, total...................... Meat products, total............. Chemicals, total................. Misc. plant products, total........ Re-exports, total................ 26,261,852 9,780,087 5,909,189 4,513,521 2,149,955 1,099,471 618,838 568,720 358,102 135,637 109,721 89,664 80,634 73,297 68,647 66,141 35,501 32,729 27,137 14,169 3,400 2,292 2,052 792 712 408 521,936 35,221,297 10,016,845 7,580,330 5,697,469 6,563,717 931,194 1,005,532 869,722 875,235 59,507 47,800 98,880 18,098 86,279 71,136 68,078 33,608 36,974 21,436 5,327 12,384 1,077 1,480 590 6.945 2,352 1,550 48 1,107.704 24,179,580 8,961,951 3,029,078 1,844,383 7,558,395 742,095 538,082 422,495 2,214 37,992 44,339 40,025 13,226 35,904 58,721 25,746 32,157 17,622 650 439 4,098 478 210 21,548 267 747,465 8.6 TOTAL IMPORTS........... 9.1 Textiles, fibers and manufactures of Metals and manufactures........ 95.1 Tobacco and manufactures....... 144.7 Non-metallic minerals............ - 71.6 Paper and manufactures......... Grains and preparations.......... 48.2 Dairy products................... Chemicals, drugs, dyes and me15.0 dicines....................... 34.6 Miscellaneous................... (2) Soap and toilet preparations..... 257.0 147.5 Rubber and manufactures........ 124.0 Animal products, inedible........ Vegetables and vegetable prepara509.7 tions......................... Fruits and fruit preparations 104.1 Fertilizers and fertilizer materials 16.9 156.9 Meat products................... 10.4 Cocoa, coffee, tea................ Pigments, paints and varnishes.. Beverages, wines and liquors.... 54.0 Fish and fish products.......... Sugar, molasses and syrups...... Wood and manufactures of...... 252.6 Gums, resins, oils............... Roots, herbs, barks, etc........... 367.4 Miscellaneous vegetable products. 1941 September August (Pesos) (Pesos) 26,515,482 26,785,464 7,094,278 4,604,506 6,077,838 5,886,800 1,901,896 1,302,768 1,763,920 4,181,310 1,347,762 1,090,358 1,129,746 2,755,760 935,048 809,216 893,702 648,658 832,894 527,960 688,932 227,464 626,092 622,308 534,358 357,704 467,852 376,592 357,442 238,062 301,760 862,628 283,204 198,356 204,626 339,138 185,818 189,176 157,930 84,376 160,900 55,302 125,458 98,926 110,722 40,296 108,914 120,610 103,406 47,652 38,382 17,866 25,260 37,530 19,038 18,676 13,702 1,002,682 12,212 9,882 8,484 8,706 7,958 3,326 5,092 10,416 2,666 2,450 4,540 2,252 2,350 3,918 1,3CO 1,944 1940 September (Pesos) 17,060,364 3,545,486 4,329,536 765,490 2,426,130 789,530 717,290 670,620 460,598 401,186 193,366 287,488 248,942 261,414 181,360 943,162 177,948 147,922 116,858 31,904 47,614 75.014 42,110 29,462 16,070 15,904 17.198 13,256 47,724 5,716 16,450 3.244 33,704 1,412 3,840 1,028 5.398, I rer cent increase or decrease over Sept. 1940 55.4 100.0 40.4 148.5 - 27.7 70.7 57.5 39.4 94.0 107.6 266.3 117.8 114.7 86.1 97.1 - 68.0 59.1 38.8 59.0 395.0 217.0 67.2 162.9 269.7 543.5 141.3 46.9 43.6 - 71.3 113.6 - 48.4 145.3 - 84.9 221.5 - 30.6 128.6 - 75.9 - 82.6 - 14.6 -100.0 -100.0 -100.0 - 30.2 Vegetable oils and fats, edible Other inedible animal products Explosives, fireworks and ammunitions......................... Spices........................... Seeds (except oil seeds) and nursery stock................. Nuts and nut preparations...... Other edible animal products.... Animal oils and fats............ Manufactures of straw, rushes and palm leaves.............. Animals......................... Cork and manufactures......... A minus sign (-) indicates a decrease. (2) Over 1000 per cent. A minus sign (-) indicates a decrease. TOTAL EXPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: SEPTEMBER AND AUGUST, 1941 (Note: Total value of exports does not include the value of personal effects and household goods of passengers departing nor of currency exported from the Philippines.) I I Nationality of carrying vessel TOTAL EXPORTS.......... American........................ Mail............................. Norwegian....................... Panamanian...................... British........................... J. aianese......................... Russian......................... Dutch............................ Swedish.......................... French........................... Philippine...................... Aircraft......................... Danish........................... September August Per cent increase Value Per cent Value Aug. to (Pesos) of (Pesos) September total 26,261,852 100.0 35,221,297 - 25.4 10,014,152 38.1 10,342,740 - 3.2 8,449,849 32.2 8,433,511 0.2 4,872,671 18.61 5,574,359 - 12.6 1,674,392 6.4 2,318,748 - 27.8 531,434 2.0 237,478 123.8 196,101 0.8 499,562 - 60.7 163,588 0.6 (2) 157,968 0.6 470,863 - 66.5 84,063 0.3 122,733 - 31.5 75,887 0.3 479,588 - 84.2 36,462 0.1 6,489,959 - 99.4 5,285 (1) 1,381 282.7 250.375 -100.0 A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. (2) More than 1000 per cent. TOTAL IMPORT TRADE OF THE PHILIPPINES BY NATIONALITY OF CARRYING VESSEL: SEPTEMBER AND AUGUST, 1941 (Note: Total value of imports does not include the value of personal effects and household goods of passengers arriving nor of currency and notes imported into the Philippines.) September August Per cent Nationality of carrying vessel Value er cent Value Ag. Value of Value Aug. to (Pesos) ttf (Pesos) September TOTAL IMPORTS........... 26,515,482 100.0 26,785,464 - 1.0 American........................ 16,152,036 60.9 13,194,880 22.4 Norwegian....................... 4,064,808 15.3 6,413,804 - 36.6 Philippine........................ 2,470,548 9.3 2,262,884 9.2 Dutch........................... 1,456,206 5.5 1,505,538 - 3.3 Mail............................. 782,872 3.0 651,692 20.1 British........................... 719,044 2.7 863,398 - 16.7 French........................... 311,976 1.2 155,656 100.4 Swedish....................... 296,852 1.1 514,474 - 42.3 Panamanian..................... 170,702 0.6 950,956 - 82.0 Japanese......................... 69,532 0.3 251,596 - 72.4 Aircraft..................... 20,906 0.1 20,586 1.6 A minus sign (-) indicates a decrease. TOTAL IMPORT TRADE OF THE PHILIPPINES BY PORT OF ENTRY: SEPTEMBER AND AUGUST, 1941 September August Per cent Port of entry Value Per cent alue increase Value of vame Aug. to (Pesos) total (Pesos) September TOTAL IMPORTS.......... 26,515,482 100.0 26,785,464 - 1.0 Manila........................ 25,010,220 94.3 24,846,226 0.7 Cebu......................... 1,070,462 4.0 1,405,894 - 23.9 Iloilo........................ 295,222 1.1 371,064 - 20.4 Davao.......................... 36,786 0.1 106,798 - 65.6 Legaspi......................... 2,452 -100.0 Jolo............................ 17,092 0.1 6,560 100.6 Zamboanga...................... 22,800 0.1 46,428 - 50.9 Jose Pafiganiban................. 62,900 0.2 2 (2) Aparri.......................... 40 -100.0 TOTAL EXPORT TRADE OF THE PHILIPPINES BY PORT OF DEPARTURE: SEPTEMBER AND AUGUST, 1941 September August Per cent Port of departure V e Per cent --- increase Port of depaltue |Value of Value Aug. to (Pesos) total (Pesos) September TOTAL EXPORTS.......... 26,261,852 100.0 35,221,297 -25.4 Manila........................... 16,591.079 63.2 22,624,435 -26.7 Cebu............................. 5,200,593 19.8 5,313,792 - 2.1 Iloilo............................ 850,372 3.2 3,320,822 -74.4 Davao......................... 1,901,045 7.2 2,835,824 — 33.0 Legaspi.......................... 257,625 1.0 248,337 3.7 Jolo............................. 632 (Ii 2,501 -74.7 Zamboanga................. 488,178 1.9 403,448 21.0 Jose Paiganiban................. 972.328 3.7 472.138 105.9 A minus sign (-) indicates a decrease. (1) Less than 0.1 per cent. A minus sign (-) indicates a decrease. (2) Over 1000 per cent. The American Chamber of Commerce Journal November, 1941 35

___ RAIL COMMODITY MOVEMENTS By LEON M. LAZAGA Traffic Manager, Manila Railroad Company The freight revenue car loading statistics for four weeks ending September 20, 1941, as compared with the same period in 1940, are given at right: The volume of commodities received in Manila during the months of June, July, August, and September, 1941, via the Manila Railroad Company is as follows: FREIG rHT REVENUE CAR LOADING NUMBER OF FREIGHT Increase or COMMODITIES FREIGHT CARS TONNAGE Decrease 1941 1940 1941 1940 Cars Tonnage Rice................. 639 709 11,253 10,274 ( 70) 979 Palay................ 28 32 408 477 ( 4) ( 69) Sugar................ 351 470 10,955 14,946 (119) ( 3,991) Sugar Cane..........- - - - Copra................ 1,012 672 11,435 6,924 340 4,511 Coconuts............. 325 110 4,771 1,148 215 3,623 Molasses............. 1 - 28 - 1 28 Hemp................ 7 3 103 31 4 72 Tobacco.............. 13 16 196 127 ( 3) 69 Livestock............ 54 18 507 162 36 345 Mineral Products.... 141 343 2,075 3,630 (202) ( 1,555) Lumber and Timber. 467 283 12,223 7,326 184 4,897 Other Forest Products 12 1 174 11 11 163 Manufactures........ 312 210 4,428 4,607 102 ( 179) All Others including L.C.L............. 2,683 2,558 28,029 24,518 125 3,511 TOTAL.......... 6,045 5,425 86,585 74,181 620 12,404 SUMMARY Week ending Aug. 30, 1,662 1,303 26,916 17,944 359 8,972 Sept. 6, 1,352 1,234 17,773 15,634 118 2,139 13, 1,555 1,395 21,831 18,825 160 3,006.20, 1,476 1,493 20,065 21,778 (17) ( 1,713) TOTAL....... 6,045 5,425 186,585 74,181 620 12,404 NOTE-Figures in pare.thesis indicate decrease. COMMODITIES JUNE JULY AUG. SEPT. Rice, sacks...................... 1123,382 206,970 191,145 118,675 Sugar, piculs.................... 126,624 64,299 335,184 149,538 Copra, piculs.................... 128,744 186,347 226,506 283,843 Desiccated Coconuts, cases........ 99,664 74,828 82,461 78,931 Tobacco, bales................... 1,170 3,049 4,776 2,492 Lumber, board feet.............. 3,823,493 3,285,188 5,828,791 5,570,101 Timber, kilos.................... 1,707,000 1,636,000 2,413,000 3,092,000 Foreign Exchange Review (September 24 to October 23, 1941) By J. Rapoport The period under review was featured by very favourable cash position in all the banks resulting partly from an ever increasing circulation of money in the Philippines. The latter by October 8th reached P234,641,512 which also included P3, 705,875 available in the Treasury for circulation. Existence of strong cash position in the banks naturally precluded the necessity of banks selling T. T. on New York as they have done in the past, in order to provide ready pesos. The market opened with sellers of prompt and forward dollars at 3/8% premium, and buyers for all deliveries at 5/16% pr. The volume of interbank business remained negligible with isolated transactions made for near at 5/16% and January at 3/8%. Throughout October the undertone of the market became a little firmer due to some scarcity of ready dollars and although beginning of the month witnessed some sales at 5/16% pr. the rate soon rose to 3/8% pr.-buyers for near and forward deliveries, with sellers asking 7/16%. The total volume of interbank business during the period under review was extremely small, th( aggregate being in the neighbourhood )f 3/4 million dollars. Merchants' rates were as follows: Clean T/T 1/2% pr., buying T/T 1/4 and seldom 3/8% pr.. 60-day sight L/C par, and 60 -day sight clean bills at around 1/4% discount. Real Estate Continued from page 34 Quiapo........ San Miguel...... Sta. Mes...... Pandacan....... Intramuis...... Sales City of Manila 1941 August September 40,086 9.000 16,032 11,000 80,000 9,500 9,600 13,505 32.429 P1,335,382 P1,508,754 A I BUSINESS AND PROFESSIONAL DIRECTORY CHINA BANKING CORPORATION MANILA, P. I. Domestic and Foreign Banking of Every Description P. 0. Box 1394 Telephone 5-34-87 J. A. STIVER Attorrney-at-Law-Notary Public Certified Public Accountant Administration of Estates Receiverships Investments Collection& Income Tax 560 Taft Avenue Manila, P. I. ( 36 The American Chamber of Commerce Journal November, 19.i i

ml Increase Your Range A /'' y of Business Contacts T HE business man who uses "Long Distance" to keep in contact with out-of-town customers has the advantage over his competitors. A business talk over the telephone is more than a message-it's a conversation. It works both ways. Nothing gets there so quickly as a telephone call. Nothing brings back an answer so fast; nothing sweeps distance aside so easily, so eco- SAN FRANDS O nomically as the telephone. "Long Distance" puts tact into every contact. It adds the persuasive power of personal- ity. For list of places reached by your\ T D home or office telephone, see page IV in s A the front of your telephone directory. Ai Toll charges can be added to your 4 S monthly telephone bill. For telephoning out-of-town, ask for LONG DISTANCE (Dial 09 in Manila) cci' C _ <~~~~~~~~~~~~~~~~~~~~~~.,:. 1.`~.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The American Chamber of Conmerce Journal November, 1941 1

__ I I II HANSON, ORTH & STEVENSON, INC. MANILA CEBU DAVAO Insurance Agents For: Scottish Union & National Insurance Co. Yorkshire Insurance Co., Ltd. British Traders' Insurance Co., Ltd. New Zealand Insurance Co., Ltd. Marine Insurance Co., Ltd. Connecticut Fire Insurance Co. Crown Life Insurance Co. Fire, Marine, Baggage, Motor Car, Workmen's Compensation, Personal Accident and Life Insurance. 4TH FLOOR, CHACO BLDG. TELEPHONE 2-20-66 ALHAMBRA IN CIGARS Fox ATL CONI continue to be the recognized THE leaders of Philippine QUALITY cigars ASSUR ORIE] INSURANCE COlRONASDEDELA | |X* L. Thirteentl ALHAMBRAone 2 -Telephone 2-2 - i OXY-ACETYLENE Welding & Cutting Equipment Philippine Acetylene Co. 281 CALLE CRISTOBAL, PACO MANILA, P. I. r - I;URANCE r Every Need and Purpose AS ASSURANCE CO., LTD. rINENTAL INSURANCE CO., EMPLOYER'S LIABILITY:ANCE CORPORATION, LTD. NT INSURANCE COMPANY: COMPANY OF NORTH AMERICA General Agents tEMLSL, INC. h and Boston Streets, Port Area, Manila, P. I. 24-28 P. 0. Box 598 2 The American Chamber of Commerce Journal November, 1941

L Want to reduce the "THE GAME OF A THOUSAND THRILLS" cost of your motoring? -w^ True economy comes only when your S/-'0 J; - - spark plugs are giving strong, hot sparks. When fuel is burned U a J Ki ^ ^ completely you get full value -- * I U I~ in speed, power and brisk ac- '~/ /t#l.z, * | f 1 celeration. Let new Champion --::: A / a i ^ ^ J Spark Plugs bring this true econ-'".::: I '__.~' u omy to your car's opMANILA ally pay for, themselves in.i!~~ EVE' fuel savings. N lo n N ld H T Fa c t o r i e s, 1I Ni^TGPHMT MFeltham, Eng. Sillment seals Chamin. \\ ^r\,AV '7* Windsor, Can. | pions against troubleAT lendsor USA. some leakage, at the A T 7 0Tlshoulder and past the center electrode, corn. GENERAL ADMISSION P1.00 & P0.50 centr electrode, cosr plugs. This patented uneven and wasteful ~Jai -oAlnai Added Attoractions: hengine operation caused by leaky, over* ORCHESTRA heated spark plugs. ~ BALL ROOM * KEG ROOM I0EG BAOOM S Install new * BARS * CONTINENTAL CUISINE ~ ENTAL CUISINE P TS Champion Spark Plugs! * SPORTS ~ GYMNASIUM DISTRIBUTORS The BACHRACH EMOTOR CO., INC. PORT AREA, MANILA Air Conditioned For Your Comfort OR RE and MOTOR SERVICE COMPANY Creosote Is An 'Antidote for Ants' White ants simply will not associate with creosote or anything that has creosote in it. Taking Advantage of this knowledge it will pay you to use nothing but CREOSOTED LUMBER Rot is another problem that causes large losses. Again creosoted lumber brings a great saving. Actual use of this has proven that it will prolong the life of lumber for many more years. We have ample stocks for all purposes, including piles and ties. ATLANTIC, GULF & PACIFIC COMPANY I 1 I

- -- - - - -, -, I ~~~~. P. IL I- -— % t ~DEPOSITS with The National City Bank of New York are protected by total resources in excess of $3,000,000,000.00. Special rates of interest on deposits for six to twelve months will be quoted on application. The National City Bank Of New York il CONNELL BROS. COMPANY (Philippines) IMPORTERS AND EXPORTERS MANUFACTURERS' REPRESENTATIVES Representing CONNELL BROS. COMPANY LTD., SAN FRANCISCO Shanghai - Hongkong - Tientsin Singapore-Penang KNOW YOUR ABZ's 'Z' the last letter of the alphabet, also identifies the last word in quality motor oils from Pennsylvania. There are many 'Penn' oils, but there's only one PennZoil...spelled with a'Z'. Sole Distributor-MARSMAN TRADING CORP..

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