Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-09-19

present work of the Buenos Aires and
Rio de Janeiro American banks is ex-
amined. The Argentine branch, being
the one that is at present the more
firmly established, serves the better to
illustrate.
The American bank at so Gale San
MARITIME, a new location, Buenos Aires,
is near the Plaza de Mayo, wherein is
located the Government Palace. The
palace which is the residence of the
President of Argentine, is at the east
end of the Avenida de Mayo the Penn
sylvania avenue of Buenos Aires. At
the west end of this beautiful thor
oughfare is the capitol building mod
eled after the Capitol at Washington.
bank of the nation. head of more than
40 branches in Argentine, in build
ing which is one Of the most beautiful
structures in South America. Within
practically all the great banking in
stitutions of Argentina, holding deposits
of about 1,500. 000,0 900 pesos. or nearly
$3.50, 900, 900 gold
The manager of the new bank is John
Fl. Allen a young man who is not only
well qualified by experience and ability
for his place, but who, in addition, pos
sesses social qualifications which are SO
requisite for success in all South Ameri-
can countries. The managers Of the for
eign banks in most South American cities
have well recognized social standing,
semi official. in the community. and it
can carry off gracefully this lighter side
of the responsibilities of the position.
The other principal officers Of the insti-
tuition are A. V. Edwards, manager of
the credit department, and NJ. D. Carrel,
manager of the department of CONNER
cial investigations Kermit Roosevelt,
who became charmed with South Ameri-
ca on his famous trip with his father
through the Brazilian wilds and with his
two years residence in Sac Paulo, Bra
iii. is learning foreign banking in the
foreign exchange department
The banking department proper of the
new institution is conducting a BUSH
ness essentially similar to that trans
acted by any bank in the United States.
1t is seeking large and small deposits,
and the published balan ces show that it
is getting both. It's early achievement
In securing the $15,OOO,OOO Argentine
loan last winter has already been noted.
Since that time it has successfully mar
keted in this country another Argen-
tine government loan of $25,000,000.
Individual loans are made and COM
mercial paper is discounted Foreign
exchange has developed into the big
gest feature of the banks purely f1nan-
cial activities. This business is con-
stantIy growing until 1t has become one
of the chief sources or proht FOR the
The most stress, however, is laid by
the institution on it's two departments
of credit and commercial information,
as these departments are the ones OF
chief value to American exporters
seeking to enter the South American
field The matter of credit informa ton
is one of vital Importance to Ameri-
can manufacturers. Until the advent of
the National City Bank in South Amer
lea it was virtually impossible for any
American manufacturer, without main
tanning an extensive organization of
his own in South America, to secure an
authentic report on the financial re-
sponsibility of any South American
customer.
In South America credit information
has been collected almost exclusively
by the banks, and principally by the
foreign banks. There has been little or
no cooperation between them in the
gathering of this sort of information.
Each banking institution has collected
it's own data. which have been most
carefully guarded as one of the banks
most valuable secrets.
If an American business man APP
preached foreign bank with a request
for credit Information he was usually
refused point-blank. At any rate, he
could not rely upon information that
might have been vouchsafed to him.
Incidentally, query of this sort COM