New-York tribune., 1919-05-23
BUSINESS NEWS BUREAU,
Tribune Building
154 Nassau Street
Will Exchange
Goods for Tobacco
With Near East
Formation of American For
eign Trade Corporation,
withS2O, 900, ,OO0Capital,
Announced by HI. nj. Day

To establish channel through
which manufactured goods can flow
regularly from the United States to
The Near East, the American Foreign
Trade Corporation has been formed in
Virginia, with a capitalization of $50,
100000. 1t is sponsored chiefly by
American tobacco men, who buy at
least $25 100000 year of raw tobacco
in the countries to which the new trad
ing organization purposes to ship
products of American factories.
The first shipload, laden with gen
eral merchandise, The Tribune learned
yesterday, Will leave about the middle
OF June, and others will carry the
goods of the New World into the an
cient countries of the East every forty
DAYS. Twenty-eight large American
manufacturers, it is said, have already
joined forces with the new instrument
g. commerce.
Turkey aud Smyrna. having been
lescd TO Allied commerce during the
war years, are in great need of mer-
chandise of all kinds, and officers OF
-he new corporation declared yester-
day, the impulse for the working out
,f the new trading technique came
rom the people there, as we'll as brsl-
anss men in Greece, in the Black Sea
ports, and the Balkans generally.
Plan of Operation
The plan is to take samples and
f.ooks Of merchandise TO offices IN the
,lear East which the corporation has
oncned, and to charge the manufacture
crs a commission for acting as their
agents. To obviate exchange difficult
tes and the necessity of the formation
Of a complicated credit structure,
hmerican manufacturers will receive
naynlent in New York in dollars Man
featured goods Will be bartered Tor
,hacco and other raw materials pro
iced IN the Near East. Officers of
,s,e new corporation said that the plan
sa~ been approved by the United
.lfes government.
Henry Mason Day, president OF the
,Een,y NJ. Day Company. IS also pfes'-
..ent of the American Foreign Trade
'crporation During the first SIX
months of the war he acted as pur-
chasing agent for the Quartermaster'
7,o.,srtment and then went to Europe
act as link between the frencn
nd American services Of supply. Inc
..-;c -;c,-presidents are George A. Harder
.ce-presidont Of the Iron Products
onpaav William II. Butler, former
al.cr Of Pail Mall cigarettes and now
director Of the Tobacco Products
orporation. and George l.. storm a
...;re-nresident Of the Tobacco Products
orporation John B. JeNries, treas
,ser Of the Tobacco Products Corpora
cn, is treasurer, and William A. Fer
,-on. secretary Of the Tobacco Prod
rs Corporation, is secretary In ad-
fion to those already named, the
rectors are r. NJ Ellis, director of
,,. Tobacco Products Corporaton' r.
- Castelii, son Of the vice-president
X the Oriental Carpet Company, OF
enstantinople: Malcolm Sumner, q
cw York Attorney, and Ernest NJ.
a.Ss,ll. vice-president Of the a. H. Bull
taamship Company.
VIII Use Own Ships
Sir. Day said that the corporation
.tfi oHerate its own ships. and has
ready acquired some 1000 ton steam
IS, which Viii sail under the American
sac. He added that the Near East,
1ut off from general commerce during
ne war period, was in tremendous
ICED of such articles as hardware,
.tchen utensils, leather goods and
gtiles. Before the war, Germany and
nstYia-Hungary got the largest share
business from this part of the world.
-.eat Britain, however, supplied most
the textiles. Turkey alone in pre-
e- years imported 100000 worth
merchandise year and exported
$4,000 600
Inc temporary Offices of the new cor
,9ration are at present 1890 Broadway