Evening star., 1915-06-06
OUTLOOK FOR TRADE
IN LATIN AMERICA
Benefits to Flow From WASH
ington Conference Is Be-
lief of Financiers.
NEW BUSINESS POSSIBLE,
RESULT OF WAR IN EUROPE
Review of Conditions In U. S. With
Suggestion of Improvement.
All Products Considered.

NEW YORK, June 5.-Throushout
the last week in May, the proceedings
Of the pan-American financial confer
ence III Washington aroused the widest
and most intense interest. There have
been ran-American financial confer
ences before. but these gatherings were
marked mainly by a smooth and easy
flow of talk which began in words and
ended in nothing. This latest gather
ing, however. differed from all its prede-
cessors in the fact that it was held
by serious men actuated by a distinct
purpose to accomplish something sub
stantial for the countries which they
represented. These delegates recog-
nized that the world was undergoing a
tremendous upheaval and that after
peace had succeeded the great world
war things could not settle back into
their former state.
obviously, the commercial relations
of the different countries will undergo
radical changes and those nations now
at war with one another for many years
to come Will not engage in trade with
one another. but seek new markets and
new sources of supply Inevitably
south America will sustain entirely
changed relations with the European
resume its former South American con-
nections and for a time Great Britain
and France will be too heavily bur-
dened with domestic financial ques-
nons TO resume the position formerly
held by the United Kingdom and the
French Republic in Latin America.
Interruption to Business.
When the great war broke out, the
South American states were deprived
of that financial support formerly OBJ
tanned from Europe. This financial as
Sistance was indispensa BILE to their in
dustrial and commercial life, and the
United States must fill the vacuum
created by the retirement of the Euro
pean states Quite naturally, American
hnanclers were asking the question
whether, If they financed the business
OF South America, this new position for
them would be permanent or would
cease as soon as Europe was prepared
to resume its former fiscal functions
OF course, If American backing of
south America enterprises was ONLY
temporary they would be less inclined
TO come forward than would be the
case II the tasks which they undertook
were permanent.
OF necessity. the formal conference
mas oeen a season of discussion and the
results of that discussion will be indi-
cdteo oy the action which will follow
the conference. There must be EXTEND
ed and exhausted investigation of the
needs and conditions of South Ameri-
can trade, and during the years that
are to come. it may be expected that all
the commercial requirements of the
Latin countries will be thoroughly un-
oerstood and every question relating to
Its trade and industry will become fully
known. In the light of this accurate
and definite Information on all inn
portant points. American financiefs,
merchants and manufacturers will be
able to act intelligently and effectively
and to secure for the United States a
hnanclal and commercial pre-eminence
on this continent which will never be
disturbed.
Evidences of Improvement.
Further statistical evidence of i'm
proving business conditions is found in
the record of commercial failures,
which has shown a steady reduction
month by month. and in May made
much the best exhibit of the year. Total
insolvencies during that period, as re-
ported to r @. Dun & Co. numbered
l,'oI. as against 2,0S3 in April, 2O90 in
March and 2.21s in February, while
there was decrease of 1,l4l suspen-
slons from the January figures, or fully
40 per cent. Moreover the s21O532l2
OF liabilities involved by defaulting
concerns last month were not only the
S!l4aliesl oi the Eedr-ShoWlng a mark
ed contraction as compared with Janu-
airy, February and April-but were also
less than those in May, 1914, when the
amount was s23.i47.496. In point of
number. on the other hand the insol-
Nency returns still indicate mortality
above the average, last months returns
disclosing increases of 4s6, 46l, 5o3 and
'el defaults. respectively, in compari-
son with the four Immediately preced-
ing years.
one OF the largest of New York's
hudncIal institutions, which maintains
an extensive system of correspondents
IA the strategic trade centers has com
piled the results Of an extensive in
4alry INTO the basic conditions which
prevail in these districts, particularly
with respect to crops and the effects OF
the European war. While reports vary
IN detail. very promising situation is
portrayed This may be briefly sum
married. as follows:
General Situation Reviewed.
The general situation and outlook in
the southeast is stated as encouraging
and hopeful. in the southwest sound
and GOOD The Pacific northwest shows
Improvement. accompanied by an en-
coUraging outlook. In the inter-
mountain country conditions are i'm
proved and encouraging, while in the
Tons are good. with greater prosperity
anticipated
To sum UP the entire situation brief
u. crop conditions as whole might
De termed very good, while the fnan-
cial situation is satisfactory. The ef-
rect OF the eSta blishment of the re-
gional reserve bank system is reas-