The Washington herald., 1917-08-28
HOLLAND LETTER
The Biggest Daily
Financial News Feature Of
the Country's Best Newspapers

Stephen PomDo. who is esteemed
one of the leading banking forces Of
Colombia, South America. arrived at
New York yesterday with intent to
undertake some large financial and
commercial transactions. MIR. Pombo
reports that Colombia has already
begun a large trade with the United
States which Is sure to be greatly
increased and is likely TO be main
tanned after the European war is
ended. Colombia has been stripped
of almost everything in the form Of
supplies. excepting food. Of which
she had plenty. Before the Euro
pean war began this republic i'm
ported very little from the United
States, her chief purchases being
made in Austria and Germany. No
longer do German or Austrian i'm
ports reach Colombia so that IL is
now essential that her people turn
| to the United States for commodities
Of which they stand in great need.
On the other hand Colombia will
be in a position to export TO this
country other commodities, among
them being beef cattle, of which We
in turn stand in need. As an ex-
ample of Colombia's necessities for
household articles and the rapidity
| with which the United States is
meeting these needs, Mr.. Pombo
speaks of table knives. Formerly
these were imported from Germany,
but the supply has been about ex-
hausted. American manufacturers
were asked If they would furnish
Colombia with these table utensils.
After examination of specimens
which were sent to the United States
the American manufacturers agreed
to furnish all the knives that were
needed. They have already sent to
Colombia. several thousand dozens
and will continue to export these
utensils until the Colombia market
is fully supplied.
Before the European war Colombia
imported her chinaware and porce-
lain chiefly from Austria, but since
the war the Colombian people have
peen unable until recently to OBJ
tain fresh supplies of these wares.
Her representatives approached
| American manufacturers. One manu-
facturer in Indiana OF chinaware un-
til recently did not export a dollars
worth of his products. This manu-
facturer was appealed to and re-
sponded willingly and is now max
ing and shipping to Colombia china
ware in large amounts as are also
other American manufacturers.
Presumably Mr.. Pombo has some
! important financing under considera-
| ton. But, OF course, there are no
| disclosures respecting this purpose
that can be made at present. Amer
lean capital which has been invested
in the business OF exporting commodi-
ties to Colombia has since our imports
increased accomplished something
| which at one time was thought impos-
| sible. The merchants OF Colombia
have in the past been accustomed tc
make payments on account Of pur'
| chases in four months time. The
notes which they gave. however, were
found not TO be negotiable in the New
| York markets. After some argument
the merchants were persuaded TO &C
/ cept drafts drawn against bills of lad
ing which were returned TO the United
States and found ready discount in the
| banks of New York City. This ar
rangement has greatly facilitated oui
increase OF trade with Colombia
Some OF the best authorities regard
Colombia as unsurpassed by any other
| South American republic in the wealth
of her resources. Much Of these await
American capital for development and
! il is believed that Notwithstanding the
strain caused by our own great financ-
ing. capital will be found In the United
States for the development OF Co
| lombia's resources. The republic hai
| immense cattle ranches and little care
! of the cattle is necessary. It is eN'
pected that these ranches will, to some
extent, make good the deficiency ir
our own meat supply.
An English company some years ag,
began dredging some of the river
! beds in Colombia for the purpose o
securing gold deposits. The success
OF this work has been phenomenal ant
the shares in this company are hel,
at prohibitive prices. When under
taking to develop some of the mine
| in Colombia it was found necessar.
TO cut away underbrush, part o
which consisted or a certain specie
of small rubber trees. There eXudeC
| from these small trees when the!
were cut a gum whose characters
tics were not recognized although !
seemed to be in some respects simils
to the gum obtained from the grea
! rubber forests OF interior Colombia