The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-19
FOREIGN TRADE IS
REVIVING RAPIDLY
Reestablishment of Relations
With Other Nations Is Most
Favorable Development.
MUCH ECONOMIC ADVANCE
European Demand for Prod
ucts Of United States Is Ur-
gent and Increases.

gent and Increases.
The reestablishment Of trade relations
between foreign countries long isolated
is considered one of the most favorable
developments In the trade situation OF
the last weak Labor troubles are
viewed by business men with no little
concern, but that development L. over
Swallowed, 1t Is declared. by the increas-
ingly urgent demand for American
products from abroad
$50 numerous are the evidences OF
economic progress" says Dun's Revteto,
that a generalization sufficiently broad
to adequately cover the situation Is in
creasingly difhcult- Features made ia
miliar by war times are again conspicu-
ously present, and the statement that
business activities are widening at
period when contraction Is usually wit
messed does not suffice as a summarize
ton OF conditions which hold many ex-
uaordinary elements and significant in
dications for the future. Second to no
other single factor in Importance is tho
reestablishment of trade relations be-
tween countries that have long been iso-
lated from one another or whose inter-
course has been restricted by emergency
regulations and the expansion of this
nations overseas commerce, while re-
Gently impeded by labor troubles in
shipping circles. has already been such
as to demonstrate that foreign buyers
are largely depending upon the markets
here for urgently needed commodities
THAT few interests now hesitate to
purchase, notwithstanding prices in
many instances beyond all precedent. is
a striking commentary alike on the
pressure of requirements and the reversal
of policy among those who thought that
waiting for price declines would provo
profitable, and some sellers have become
Indifferent to accepting contracts that
would have been eagerly taken before
competition for supplies developed such
sharpness. The fact is that buyers SEQ
more clearly that signs point to grow
ing shortage of goods in most lines
rather than to Accommodations, and even
now some products are practically I'M
obtainable for immediate shipment. and
the movement to allot outputs Is spread
ing.
Few Summer shutdowns.
with order books rapidly filling UP.
summer shutdowns through lack OF busi-
ness will be virtually absent in leading
industries. and not only are manufacture
llIS IdClllllcS DelH6 eAttilucu III val iouo
quarters but many new enterprises are
also starting. Yet some of the plants
that have long been under a great strain
have found temporary suspensions for
repairs and overhauling imperative, and
shorter working hours and further
strikes have been added obstacles to the
attainment of capacity operations at not
| a few establishments. The prospect
seems remote of production overtakin8
demand. and continuance of noteworthy
strength In commodity markets is re-
| flected in the preponderance Of advances
| In Dun's List Of Wholesale Quotations
THAT a complete return to normal
| economic conditions Is yet some time in
! the distance has been made plain by the
action of the foreign remittance market
| Depression in this quarter has been no
novelty, having extended over long
period but this week the situation
! reached a state of decentralization and
new low records were established in sew
eral instances. or overshadowing i'm
portance was the further violent break in
! sterling exchange to a point never before
touched, at about s4.26 on Thursday, and
| French, italian. Spanish and some other
classes of bills were also conspicuous
| for weakness. The bottom point for
| sterling represents a discount OF mora
than 60 cents from parity. and the weeks
decline alone exceeded 20 cents, while the
months extreme depreciation has been
no less than 33 cents. Such movements
as these are a striking commentary on
the great financial upheaval wrought by
the war. and It is not clear now in Just
what way or how soon the chaos in for
eign exchange Will be remedied."
| Business Momentum Is Great.
Business momentum Is SO great. says
BrddStreet's State Of Trade, land de-
mand is so heavy and 80 eager that re-
Election Is hardly yet visible In trade or
industry. The crop situation. however.
| finds an almost complete balance in the
much improved reports as to corn and
| cotton, which have continued the gains
previously noted. The labor situation is
serious first, because of the practical
tying up of shipping on the upper At
lantic coast holding threats OF serious
interruption of export trade already feel
ing the bad effects OF demoralized ex-
| change markets and next. because tho
threats of a lockout of building hands
st Chicago is a sign OF unrest OF this
class of labor at a time whom building
construction the country over was
never so active.
Additional unrest Is noted In other
sections. as in eastern Massachusetts.
where strikes OF trolley car workers have
interrupted traffic and where cotton mill
hands are dissatisfied. Other strikes in
clude agricultural implement workers at
Chicago and cigar makers and some
clothing workers at New York.
"As indicated, the country is so pros
porous and demand Is so far reaching
that these troubles exercise as yet only a
slight influence. From East West,
North and South the general report Is
OF fall buying being earlier than usual.
OF buyers OF goods complaining only OF
slow or partial deliveries and of manu-
facturers Of staples and OF luxuries
strainIng to I'LL orders while handicapped
by lack OF wholly or partially manufao-
tured materials for their Industries
more than ever the list Of things ao-
tive is practically a roll call OF the coun-
try's products, such few lines Is iron
and steel, which Jagged earlier in tho
year. showing growing strength In buy
ing, in prices and in output. At most
iron and steel manufacturing centres
old material is higher and pig IRON shows
a firmer tone. despite increasing output
while in finished lines, wire products
pipe and plates, the latter largely for oil
trade uses, tinpiates and bars arc In
active"
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