The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-31
NEW TARIFF BRINGS
RUSH OF IMPORTS
December Increase Of $29,687,.
294 to S188,732.738 Makes
High Record.
WOOLLEN FIGURES DOUBLE
Merchants Studying Foreign
Markets, and Steady Gain
Is Predicted.

Importations Of foreign products as
the result Of the new tariff are expected
by bankers and merchants in close touch
with the foreign trade situation to IN
crease In large proportion as the year
continues.
The sudden squirt in imports In Deem
Der. an increase Of S2s.s37.2s4 over the
December Of the previous year. was ac-
cepted as conclusive evidence by bust
ness men yesterday that the wave Of for
eign importauons has set in.
Il look for a largo increase I'm i'm
portations Of foreign goods" said Max
May, vice-president OF the Guaranty
Trust Company. "lmportations have not
been largo thus far. But our merchants
are examining the European Held In prep
aration and undoubtedly there will b. re-
suits have not heard yet Of large
movements on the part of European
manufacturers to invade this country, and
this naturally will be slower process"
MI. May IL regarded as an authority
on foreign trade and money markets. As
the head OF the foreign exchange depart
ment Of the Guaranty Trust Company ne
handles business yearly which he testi-
lied short time ago before the Federal
Reserve Bank organization COMMITTEES
amounts to S2.S6S.0o0,0 900 in bills OF ex-
change, or approximately one.third OF the
entire foreign exchange business Of the
country.
First feet Of Tariff Eject.
The December report OF trad. was the
irst real indication that the tariff IL op.
Grating to bring in goods To compete with
the home product. For October, the Iirst
month under the new tariff. imports were
Tess than IN the corresponding month Of
the preceding year, dropping $4,000. 900
TO Sl32.e0O.0O0. During November the
recession was continued In a drop OF
100000 from November OF the year be-
fore to S1iS,000, 900
The December Increase OF nearly s3c,-
100000 In total !mportations Of Sis:.33e,.
,3s was thus the more convincing OF the
turning tide December importations
We're so.'4o.O00 greater than the record
in October. 1912. Imports for the year.
however, amounting TO sI.7s2,1s3,6&5,
were s:S.000.o00 less than those OF 1912
the record year for Imports December
imports were sl7,0oo.oo0 higher than
those OF any other month OF 1918.
The articles imported In the present
movement are illustrated best IN the ns-
ires OF the New Iorl; Custom House
comparing amount Of importations IN bond
waiting withdrawal Oh January this
year with last. These figures show an in
'rease OF si3.oo0.ooo over last year.
RasA 81 wooiien Goods.
Wooilen goods are being brought IN with
rush There were 10.SSU53s square
ards OF woollen dress goods in bond on
January l awaiting the reduced duties eff
'ective at the first OF the year, aeains:
,.s6o.S02 square yards the year before.
With value OF S2.Sl,,s94. agains; half
hat sum n year previously. Increases OF
l!most like proportion In other parts OF
he woollen department are -ecorued. The |
american Woo!en Company sent two men
lbiOad week ago TO study foreign mar
,ets.
The way In which foreign producers of
'ane sugar are preparing to take ad- /,
'antase OF the lower tariffs that 20 into
fleet on March 10 Indicated in the fact !,
hat on January l there Were la,e35,045 [,
Wounds OF cane sugar valued at nearly ST. !
100000 In warehouses awaiting entry as
ompared with only 1913 pounds IN |
tore year previous In the first three /
weeks of this month about $4,000
100 pounds additional were brought in. An
demand for sugar. however. has |
compelled refiners 10 withdraw almos: So |
10000 pounds over a month ahead OF the /
!me when the tarfr advantages begin to !
perate.
Bleached cotton goods to the amount Of !
2s3.505 vera In store at the first OF this I
ear. against $5+.iS0 last year. Meat prod
lets amounted to $se.ll4, against f6a.l0e
ast year.
Steel forginss were s247.ss&. against
st.,2l year ago; steel !ngots and bars
1915, against ss5,e21 machinery.
ass.iSo. against s1s7.s7o, Lead ores. on
which the tariff was cut IN half amounted /
n January to S5t.s73. against none tho
ear previous. and lead bullion to s27s.-
80. against s2.50l a year previous
There is also the active importation Of