The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-16


marine insurance, have done very ex-
tensive and profitable business in Japan,
but some of the managers of these CON-
panies have been greatly concerned lately
by order from the Japanese government
which practically requires them to deposit
with the government treasury a sum equal
10 the reserve against policies and COM
pliance with the order would tie up almost
the entire working assets of the companies,
making ii impossible TO continue In bust
ness. 1t is hoped. however. to have this
order modified. Life insurance companies
carry risks on the Japanese amounting 10
about sloo.O00co. The fire risks assumed
in Japan amount to about S165. 100000 and
1866. coo. 0o0 in marine insurance is In force
In that country
The industrial situation In Germany seems
to be improving. there being increasing OPP
portunity for employment. notable de-
crease Of unemployed men on the streets
and employment bureaus at Berlin is the
result OF greatly increased activity in the
building trades and at some points the de-
mand for labor has exceeded the local sup
ply There is considerable increased activ-
ity in the mining and metal industries. A
number of the leading German iron and
steel companies are said to have booked
orders that will keep their works in opera
ton beyond the close of the year.
The expected relapse in the textile indus
tries which was predicted has not yet oc-
different lines are selling their products at
home and for export at prices which are
disproportionately low. On the whole, how
ever, the volume of business is steady and
large and traffic in the great German sea-
ports is active and promising. There has
been serious shortage of freight cars on
the railways, which is considered very
good sign of the increasing activity of
business.
Consul Skinner, at Marseiles, France.
says there is again serious complaint at his
port with respect to the carelessness of
American grain inspectors and he says that
local French millers are hardly in a mood
to receive American propositions. In writ
ing to the State Department in regard to
this matter Mr.. Skinner says:
II have detailed information respecting
one lot OF 10000 tons of red winter No. 2
shipped from one of our Southern ports.
receipt of which refused by the buy
ers on arrival at Marselles because the
| grain did not conform TO the certified de-
scription given by the inspecting authori-
ties at the port of departure. At auction
| sale this same wheat brought some 3 cents
less than the price at which IL had been
purchased and the case is now in the local
courts. European buyers find our Ameri-
| can inspection plan admirable in theory
| but unsatisfactory in practice for the rea-
| son that no guaranty whatever accompa-
MES the certificate. No United States Off
| cial is authorized to fix crop standards and
| undetermined standard by which they I'M
dertake to grade grain coming before them"
The commercial relations between France
| and the United States are found by the
| American agents abroad to be thoroughly
| unsatisfactory and will continue long
| as imports from the United States are
dutiable. with few exceptions. at the maxi
| mum rate of the tariff, while competing ma
tons. without important exception, secure
the minimum rate This, of course. is due
to the failure of the reciprocity treaty with
! France negotiated by the State Depart
ment, but which was pigeonholed' by the
| United States Senate.
To this very serious tariff obstacle is added
another in the fact that If American mer-
| chandise is exported to France with an in
| termediate transhipment at some European
port penalty tax is added, intended to
| benefit French shipping. If, however, Brit
| ish, German or Austrian goods happen to be
| forwarded over land routes by way of Italy,
| Russia or any other country the shipper
| continues to enjoy the minimum tariff rate.
| Nor is this all. Early in July amend
| ment to the French tariff law was passed
| by the national legislature whereby sailed
rate, the increase being practically pro-
| hibitive.
For these and other reasons there has
| been a steady decline in the volume of i'm
! ports into France from the United States,
4 the decline amounting to $4,000 900 in a total
considerably less than 100000 900. The total
! value of merchandise exported from France
to the United States does not include the
many millions of dollars worth of articles
| purchased by American tourists annually, a
| trade that is counted on by French manu-
| facturers and which has acquired enormous
proportions within the last four or five
| years.
| Consul Skinner seems to think that, as
| matters stand. 1t is surprising that the
| United States trade in France has done so
well. He, is persuaded that. even with
| things as they are. we shall do much better
| In the future when the Americans under
stand the French colonies present an invit-
| ing field for export trade. The general
| character OF American exports to France Is
such as to arouse no particular hostility.
| Taken generally, they consists of American
J food products, of raw materials Of which
| this republic is in serious need, and Of agri-
cultural implements and machinery, the i'm
portation of which is rapidly strengthening
the resources Of this country.
| The potato crop of England is a failure
this year. and English buyers are already
securing the continent to supply the threat
ened deficiency. Prices have gone up in
| England to a marked degree and as the
| potato is a staple article of diet for large
| proportion of the working class, the situa-
ton will be seriously felt during the COM
ing winter.
| XXX
beet and cane sugar factories of Spain all
except two or three have just been merged
In a sugar trust. The former finance min
lister, Lopez Puigcerver has been elected
| chairman of the board of directors. The
| beet-sugar industry of Spain, although
l. comparatively young, Is already far more
| important than the cane-sugar industry
The two together produce almost 100 OO(
metric tons annually, some of which is ex-
| ported.
There is no change in the depressed con-
diton of the cotton trade in England The
American shipments are still very small
and 1t is expected that things will grow
worse before they grow better. The opera
tives in the Manchester district have been
idle for two months and the suffering in
some of the small towns Is almost incredi.
| BILE. Relief committees aiding between
two and three thousand people In each OF
these places.
One peculiar feature of this situation is
the accurate knowledge possessed by the
cottOn-factory wcrkmen as to the real con.
dition of their trade and it's needs Almost
without exception any one OF these mer
can talk intellgently as to the cotton stua.
ton throughout the world. especially in its
relation TO their own employment. Sufh-
cient cotton from the United States to re.
lieve the most acute need Is expected with.
I'm few weeks, but IL will be some time be-
fore a normal stage of operation is reached