Issued on May 3, 1932. Unwatermarked. Perforation 11.

2c Mayon Volcano
Yellow Green
354

4c Post Office Manila
Rose Carmine
355

12c Pier No. 7, Manila Bay
Orange
356


18c Pagsanjan Falls
Red Orange
357


20c Rice Planting
Yellow
358


24c Rice Terraces
Deep Violet
359

32c Baguio Zigzag
Olive Brown
360
Illustration Error: 18c depicts Vernal Falls in Yosemite National Park
instead of Pagsanjan Falls in Laguna Province as labeled.