The Birmingham age-herald., 1920-05-01
Daily Wall Street Gossip
BY HOLLAND.

New York, April So-(Special. )-IIow rapidly commerce between the United States and the far east has been deyel- ored within a few years, is proved by an ofncal statement that the total inter I'atiollal trade between the United States and the Orient Is approx imately of the money value of $2,O0c,OOoOO0 A wear If IS thls trade which explains in mart at least. the rapid growth of New Orleans as Pacific port.
 Years ago C. P. Huntington yentured tne predlctlon that New Orleans and Ne"pcrt News, a city which he created would command a very large mart of o,,,. foreign commerce. The Panama Canal was not coIlg'leted when Mir Hr1ntinpton thus predicted, and he was known not to be very strong advocate of the canal NeNertheless, he was certain that the s-u- penoous resources of the Mississippi Val ley ana or the Gulf States of the south would furnish the basis for a vast trade, With South America, Central Aneric, r..sss the west Indies and ultimately the Ori- ent. o VI T.
 day or two ago intination ca,,s +o New York that five or six vessels are ,,,,x,, sahing from New Orleans every month ioaoeo with the I1oducts of the Mis- Ssippl alley, for which markets will De round in the far east One of tba unexpected results following the openine or the Panama Canal has been the devei- opnlent of New. Orleans as a Pacific nort poSSioly at the partial cost of San Fran CISCO and Seattle. But Capt. Robert Dollar Of San Francisco whose mama in ohina IS a synonym for all that is best anu hohoIaoIe Tn American business life Las been quoted as having said. when on a recent visit to New York that there would be Pacific Ocean commerce enough TOT both San Francisco and also for New orleans Captain Dollar forecasts an. enormous increase in the international commerce between the United States and the far east.
 JAMES J. HILLS PREDICTION
 Neariy tive nty years ago James J. Hill forecasled an enormous commerce he. tween the United States and the far east especially Ckina- He undertook to stirnu- late that commerce. He built two large steamers for the Pacific trade He ex- pected that his railroad would reach far into the south for raw materials produced Ill that section of the country and would transport them as well as the lumber of the Northwest to China, bringine, back cargocs of teas silks and other commodi- ties
 MT. Hjli, however did not dream that New Orleans might become perhaps a rival Of Seattle for the commerce of the far east. He was obliged to abandon his pio'ii bcSeioEt liit lllL6TSL<iLe commerce Commission objected to the railroad rates which he adopted. But the Inter state Commerce Communication cannot in- terfere With the operation of steamers plying between New Orleans and the far east. It is a perfectly normal and not artifciaaly stimulated trade which is de- veloping New Orleans into so great a port that it may at last stand second to New York alone
 The far east wants various commodi- ties produced in the Mississippi Valley whereas. on the other hand, in that great section of the south there is always a constant and increasing market for bur- laps, jute. hemp, vegetable oil, teas spice 8 and silks This international trade will when conditions become normal. be car- r.ed out on an ideal basis. In other words, our exports will offset our im- ports It is estimated each Oriental ship that makes port in New Orleans ex- bends about S60,O00 for fuel. fees and