The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-13
Far Eastern Trade Notes
From the Bureou Of Foreign and Dc

Ut6SttC commerce..
Visitors to Shanghai will be pleased
to hear that a first class hotel. costing
| about s1.500.000, will be constructed in
| the suburbs of Shanghai, near the race
course, to I'LL long felt need. 1t Is 10
be under American management, and
will be conducted both on the American
and European plan, with a cabaret grill,
ballroom. theatre and all the latest con-
veniences. The new plan will be tried
of conducting the billiard. bar and sup
per rooms like a private club.
The use of motor cars has been made
possible in Foochow. China, by the enter
prise of the provincial officials, who have
spent recently $3.50, 900 in improving the
roads, which has enhanced the value Of
the land and caused the construction of
modern buildings.
The suggestion has been made by
prominent men in China that 1t. would
pay combination of motor car COM
panies to finance loans to the different
provinces to be used only in road con-
struction.
There are apparently good oppor.
tunities for the sale of cotton spindles
and looms in the city of Kao Yang, thirty
miles from Pau Ting Flu, China, as the
textile business of this place is esti-
mated at over s12,000.000 a year. Cot
ton is shipped hence to Japan, where 1t is
spun into yarn and returned for use In
thousands of hand looms. As the city is
wealthy and wages are fairly high local
authorities think that cotton mill ma
chinery could be introduced without diff
eculty.
Many Australian importers prefer to
buy from American manufacturers, as
they like our goods. but trade is I'M
peded by the high rate of exchange with
New York ($4.5o to the pound sterling
In Adelaide in June and $3.50 in Mel
| bourne). Some of them even say that
IL this situation Is not rectified imports
from America will decrease very ma
terially. A plan is under consideration
to sell Australian gold in New YORK TO
sirens then exchange.
It Is suggested that branch OF an
American bank in Australia could grant
credits to local importers. upon approved
paper, ut current interest rates, and ar
range to have the proceeds made avail
able for payment in New York for goods
shipped BY American manufacturers,
who would thus receive cash upon ship
ment, while the importers would not
have to pay their notes until the goods
had arrived and had been sold.
II IN encouraging to note that a prom
inent New York bank (whose name VIII
| be given upon application to the Bureau
| of Foreign and Domestic Commerce)
has recently established branch in
sydney for the purpose of promoting
American commerce.
The unsatisfactory condition Of ex-
change with Australia Is largely due
| to the fact that most Of the tonnage
allotted to this country must be used
| to carry the wheat, flour. wool. &C.
| which has already been purchased by the
| Imperial authorities. AS these cargoes
have been paid for they do not help the
exchange rate by the creation OF credits
| in London as these balances were ex-
| hausted long ago.
There are now ready for shipment
very large quantities OF wheat meat.
skins, hides, leather, tallow and many
other commodities which are urgently
needed by other countries and as soon
as vessels are available the proceeds of
their sale will establish large credits
| which Australians can use to make pur-
chases Of all kinds in American and
European markets.
A promising new trade seems TO be
| TO weave and spin the native cotton,
clean rice, and grind -four. Very large
quantities of cotton yarn are imported
| to be woven in the native hand looms
and small power looms and there are
numerous inquiries for small spinning
plants to cost not more than few thou
sand dollars, to be operated by crude
oil or kerosene motors.
II is understood that the manufactur-
ers OF other countries have put on the
Chinese market small -four grinding
mills, run by hand power, which sell for
only 500. There is. however, a demand
for machinery operated by coal, cleo
| tricity, fuel oil and gasolene. The diff
culties of transportation and the general
lack of combined capital cause small.
cheap units to be most desired. though
standard plants are being successfully
conducted in some of the larger cities.
GhanRhal