New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-23
EXPORTERS HEAR
FARRELL ON TRADE
Steel Man Advocates More
Liberal Navigation
Laws.
A. B. JOHNSON WOULD
DEVELOP SHIPPING
Douglas Says South American
Situation Has Been Basis
for Much Lying.

Present opportunities Of American
trade in other countries received thor
ough discussion at the fifth annual con-
vention Of the American Manufacturers'
Export Association yesterday. At the
dinner at the Hotel Biltmore James A.
Farrell, president Of the United States
Steel Corporation, pleaded for more
American shipping, saying:
AT present there is no lack Of ship
| ping facilities, as there are more ships
/ than cargoes to all parts of the world.
| Our trade is not halted through lack Of
transportation, but we should analyze
this apparent security.
"The greater part 0f our oversee
commerce is still being carried in for
eign ships, and is therefore vulnerable
! to the hazards Of war. Up TO the pres
ent seventy-seven foreign built vessels,
aggregating 275,000 tons, have been
/ transferred to American register, a
comparatively small number when it is
considered that upward of 100000 of
foreign flag tonnage is owned by Amer
leans; but many more vessels would
doubtless be transferred to the Ameri-
can flag if prudent revision Of our navi-
cation laws were made, rendering OPP
Grafton of American vessels possible on
a basis fairly competitive with ships of
other nations.
Zone week of the European war did
more to convince the American people
that foreign trade is necessary 10 our
( domestic prosperity than ten years OF
academic discussion" he continued.
Two other speakers were II. K. Ed.
ridge, vice-president of the National
City Bank, and Professor jeremiah W.
jerks, of New York University.
At the morning session William II
Douglas, president of Arkell & Doug
las, Incorporated, said he resented the
criticism that American manufacture
ers had not developed foreign trade
more than they had.
Australia, New Zealand, South
Africa and the East are the places for
American trade now" continued Mr.
Douglas, mot South America, because
South America is bankrupt. You have
heard lot of rot about South
America. More lying has been piled
into your ears in the last sixty days
about South America than | thought
I COulu Ot liHdBlntu. OHe way we might
help South America would be for our
bankers to send a commission there to
investigate her resources. Undoubted.
ly they would find securities in the
shape Of natural resources that would
warrant them in lending that country
between s250,0O0,000 and $500, 100000. )"
Two other speakers were Edward
Ewing Pratt, chief of the Bureau of
Foreign and Domestic Commerce, and
Franklin Johnston, publisher of "The
American Exporter" Alba b. Johnson,
president of the Baldwin Locomotive
Works, was elected president to sue
coed Charles Z. Jennings, of c. T..
Jennings e. Co.; A. n. Hargrove, Of
the J. G. Brill Company, was elected
second vice-president; W. F. Adam.
of the Clarence Whitman Company,
third vice-president, and Z. II. Hurley,
of the United States Rubber Company,
treasurer. James A. Farrell, president
of the United States Steel Corpora
! ton, and NJ. A. Oudin, of the General
Electric Company, were elected d.
/ rectors for three-year terms.