Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-08-23
A Years Effort for Foreign Trade.

The National City Bank has Just COM
pleted one year of its efforts to win, or
rather aid in the winning of, foreign
trade for the business interests of the
United States.
y year ago the bank took steps to
open its first branch in Buenos Aires.
a branch at Rio de Janeiro followed,
then branches at Santos and San Paulo.
MonteNideos branch will begin to do
business this month. A branch will be
opened in a few days in Havana, Cuba.
One representative of the bank is now
in Chile and two others on their way
10 Europe, while a department has
been inaugurated in the home bank for
Russian business.
An Important volume of acceptances.
the highest grade of commercial paper,
something new in the United States,
has resulted in bringing millions of
dollars worth of coffee paper to the
American financial market, and there
.7has been a large advance in the es-
Establishment of dollar credits, wher-
ever the bank has branches"
The branches have furnished all in
formation needed as to commercial
conditions: credit reports on 1000 lead
ing South American concerns have
given detailed particulars as to de-
mand and supply. stocks. tariff rul-
ings. samples catalogues. statistics,
fresh information on opportunities for
: business connections and general adj
svice on foreign business. All informa-
exporter gratuitously on request.
Other banks not large as the Ma
ttonal City would like to be useful in
I this line of endeavor, but the ruling
against joint stock branch banks. home
4 banks in operation to hold the stock,
1has prevented their efforts
;, Financial Notes.
e The White Company, manufacturer
',of automobiles, has called 100000
~ per cent cumulative stock, for re-
ttrement at rs and dividends to No
vember l. The company will issue
100000 new preferred stock. 1t has
7sa.440.00e of common stock and no
> bonds outstanding.
Further advances are being reported
in steel products. Standard rail spikes
will BE advanced 81 h ton. and pig
iron continues to advance.
. Thes retirement of the du Pont Pow
der Company's bonds by an exchange
for 6. per cent preferred stock is an
s,nounced.
: II is reported that Germany had been
buying Dutch gulders in the American
market rather freely. The selling of
American securities by Dutch holders
us also accountable for the inquiry for
gui!ders. in the event of trouble be-
tween 'effndnS ana the United States
'>the purchase of guilders would be the
=. only way that the former could get any
: cash from this side of the Atlantic
= All the large cities but St. Louis
showed gains in bank clearings last
T.. week. New York gained SOS. 1000 900,
largely due to the fact that year ago
the stock exchange was closed. Boston
gained S5,00U,0G0. probably because of
/. the same fact with regard to the Bos-
F. ton exchange. Comparisons are with
the same week of last year.
= The saving habit is spreading In
o. New York state the savings deposits
increased during The fiscal year ending
June 80 last s1S.5T2. 202 The par value
of stocks held as Investments by saw
.e1ngs banks in the state increased dur
ing the same year by S12765, 900
. Illinois Ceutrals August loadings to
date have fallen off about per cent
Indications point to heavy grain load
s.iHgS in the near future.
Coal is said to he moving more freely
the expiration of agreement with op-
cratives in both hard and soft coal
fields next April being responsible for
:, speeding up Settlement of labor
troubles in ohio helped the movement
there. Grain frcights are not expected
to show very heavily i'll the August
20 abroad earnings. but are expected to
p feufe very largely in September's
Negotiations are going for the re-
turn OF bonds sold in France by the
New Haven and the st. Paul roads. as
Wen as the balance of the PENNSYLVANIA
rompanyS franc iSSue-to be used as
collateral for a dollar bond issue to
, heip the exchange situation.