Evening star., 1916-07-13
GOSSIP ABOUT MONEY.
BY JOHN M. osKIsoN.

NEW YORK, July 13-What a sum-
mary OF our trade and financial prob
lens was made by President Wilson in
MS speech to the worlds salesmanshin
congress at Detroit!
| Ihe Presidents mastery of words
never showed more clearly Take his
picture of American business genius
supreme in the world, yet afraid to
venture beyond the borders-"afraid
OF touching too intimately the great
processes of international exchange i"
1t is true and courageous etching.
Again: america. which ought to
have had the broadest vision of any
nation, mas raised up an extraordinary
number of provincial thinkers. men
who thought the United States was not
ready to take her competitive part in
the struggle for the peaceful CONQUEST
of the world.
has gone by. We must play a great
part in the world, whether we choose
! it not
| The President sees the country as the
greatest creditor nation of the world.
| pledged to finance the world in large
measure. We shall have to supply the
world with goods "by running our in
telhgence ahead of our goods" What
we have been hearing on the study of
foreign markets.
| This worlds salesmanship congress.
| OF course. is only one of the many re-
cent attempts to crystallize the grow
or world career. If it delivered one
definite opinion it was this:
FIND out what the world outside of
America wants and sell that; discover
service and get ready to render that
service. Forget that American, ways
and American goods are the best in the
world-if they are-and make sci
entific study of the art of selling the
stranger what he wants"
| Meanwhile the practical plans of
| financial leaders for reaching out over
the borders are bearing results.
! Item: The Interna tfonal Investment
Corporation. of American parentage.
has arranged a $4,000, 900 loan to China
with the purpose to extend and improve
the railways of that country. At the
same time negotiations are going for
ward for another loan to China sort
of reorganization loan-amounting to
/ S20.000,000, with the possibility that it
may be increased to $50, 10000
Item: The huge syndicate of bankers
and Investment dealers who handled the
$500, 100000 AngloFrench loan has
made its final distribution of profits,
s163S per $4,000 of bonds to those who
withdrew their allotments and s5.O5 per
$4,000 of bonds for those who did not
Item: The American Interna tional
Corporation, organized by the City
Bank interests about a year ago to de-
velop foreign trade, has organized n
special subsidiary corporation (capital
S1,000.o00) to study the business which
has already been offered from South
America.
Item: The rush of American business
statesmen to Russia following the or
atsyrf tTt,
Chamber of Commerce has uncovered
what is reported to be almost a bound
less market in the cars empire
Item: The newly organized American
International Terminals Company is
taking up one of the most annoying
problems that has arisen in connection
with our foreign commerce-that of the
delays due to congested terminals at
our shipping points.
Stories of the great masses of for
eign-owned American securities that
have been shipped to our market con-
tinue to fall upon ears now used to
prodigious figures.
In the first stories concerning the
arrival of the German merchant sub.
marine at Baltimore, what more nat
ural than to say that a considerable
part of her cargo space was occupied
by German n-owned bonds and stocks to
he used here for esta blishing a credit?
That report turned out to be unfound-
ed. and certain German-American bank
ers informed US that Germany has al
ready marketed in this country about
all the securities that are likely to be
sent to U.S.
However, the flow from England con-
tinues. The other day a representative
of the Bank of England arrived with
eight strong cases, of ba ggage. in which
were packed S25,000.00O of securities
for sale. 1t was the third consi gnment
within a week-two other ships bring
ing over S45,O00.000 of paper to pay
for purchases here.
We are beginning to note the decline
of the war order stocks'-and to un-
derstand that until the war is over the
belligerent countries will supply their
own munition needs.
The Steel Corporations report of un-
filled orders shows falling off for the
first time in a year. though the de-