The Washington times., 1915-03-21

News developments during the past
week have not been of a character to
either materially promote or retard gen
eral business and commerce. ana con-
seouently the United States continues
to watch anod wait upon the progress Oh
the European war.
In the stock markets of the country
trading was extremely dull, and the re-
ports show the mercantile business to
be irregular, and collections extremely
backward. AS has been the case for
mora than a month, the section OF the
nation that shows most Improvement
and tends to further progress Is .he
West and Southwest, where the hlSh
prices commanded by the grain crops
have filled the farmers pockets.
The peace talk that two weeks ago
was being generally INDUCED in In flnan-
cial circles Is not SO frequently heard
now. and the depressing effect suffered
by the wheat market on reports OF sue
cesses enjoyed by the allies in their
bombardment of the Dardanehes nus
been dissipated in part by the reports
Yesterday of the loss Of three ships from
the allied fleet. thus indicating that tho
forcing of the passage to Constantl-
NOBLE will be slow, difficult, and COSTLY
Americans are predicting that iuli
opportunity will be given for the expor :
tation of every bushel of wheat thal
this nation can spare before the bottled
up Russian supply is released
Trade Balance Large.
Meanwhile, the heavy expectation oi
| foodstuffs and munitions of war con-
tinue. while imports, Oh the other hand
are slumping sharply, thus making the
trade balance of the United States I'M
duly large. The custom house at New
York reported yesterday that during
the week ended March 13 both genera
| imports and dry goods decreased pS
unusual amount. the FORMER pelnt
81, ,OO0, 900 less than the week before "hii'
the latter fell off s763.S2S.
With the outbreak of war in Europe
| American business men and financlers
Immediately realized the opportunity 10
this country to build up with the Latin
| American countries an enormous forelsl
trade and much discussion has beeI
indulged in In financial. diplomats. ant
other Government circles as to tn
methods of procedure to be pursued II
the effort to obtain this trade;
| The National City Bank of New Yorl
entered the South American field. ant
yesterday announcement was made tina
the bank of the Americas, S5'OOo'oV
corporation, is now being 1orlneu i
New York for the sole purpose of fnanc
ing commercial operations betWee
South and Central American countri,e
and the United States. A substantia
mart of the capital already has bee
subscribed by bankers and exporters IN
terested in the South American trade
According to the announcement Of IN
plan the bank will be created FOR IN
purpose of carrying on a regular bank
ing and financial business with the dill
ferent countries of the northern par
Of south America, as well as the cour
tries of Central America. and besides
promote the interchange of produce an
Commodities between the different couI
tries where branches will be estaollsf
ed.
Guarantee of Credits.
The bank will act as agent and supei
wise the granting of credits to mel
chants of those countries. and. II
desired, will act as guarantor
such credits against percentage to
l fixed accordingly
An effort will be made by the ban
.Lo aSta hli oh bnpnt