The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-01-19
|0UIl16k !
INDUSTRIAL ltlllll|

- - -
The January Is issue Of "Anseri<
Goods ana Foreign Markets.
semi monthly publication q
Guaranty Trust company. o. 49,
York devoted to foreign trade. 49,
that 1.-The prospects at the hegfnntA
of the new year in this country;ta
|, all for. sustained industry saftllR}
and for continued demends Tor e&NsX
toll on large scale. The newar9eG n
OF turnover made last year aAA
shortage OF both consumpfion4 n
capital goods which still Uhtatn
seems clearly to Indicate this 49,
present condition Of large Solun1oec
domestic and foreign untitled 0FaSe
viii hold over for su.ne time siQMs%Sa
ltinuing, the bulletin says: -
Foreign trade statistics show Tt
| in all probability the yalne Of the tCtMA
exports for the year 1919 reachAs1@A S
| billion dollars; that of total imp9
4 billions. or the s billion doiIAras0t
exports. those to Europe sccounted
! for more than billions. or nearly
/ two thirds; of the billions az stEi-aR
! ports. less than 500 millions. on. o4e~
| fifth. came from Europe. opfno1s y I
I general That the vea:@ / sZ8 VIII, SEQ
a marked reduction in exports Sand
increase in imports. The lattersatiIs
| be influenced chiefly, perhaps. M. ING I
| degree of improvement that ~ A5Asct-
1 ed in European Industry, the faFner 4
by the same factor, by conditions tn
| the goreign exchange market. by the
amount OF financial aid exte ndalf TO
our European custofnedS and. not
least, by the character of the setEic0i
rendered ty our exporters, and.sAe1
character and prices Of taefr Eoeds-ss
The time is fast approaching whAIsss
| with normal conditions uf tnteFHatio
al commercial competition. Af&sTaAn%
goods must. as of old. sell! strict ys . III 1.
thei merits, not because buyers mast
have them AT almost any. cost: "
other words, when d BUYERS market.
4 will replace a sellers market.
SIGNIFICANT FOREIGN TRADE
STATISTICS
= "Of peculiar interest, as oanphAsiz-
ing the needs of Europe for our. geefs.
and her ability 10 continue tAksHG
them, are certain November Efrfx
trade statistics. The total exports Tor
exports for that month exceeded lin
value those of October by 1903 millions
but this increase was more than ac-S
count for by an increase of ia hIil-
lions in the value Of the .expotts .bf
crude materials for use in nlanAfAc-
turing The latter amounted tos3S0s
millions out of total of 740 nltllinn1
4 for all exports. or, meme than 81 PER
cent, whereas in the preceding ten
months of 1919, the value OF such
cent OF the total Just so tar as3
Europe is able, or enabled. to if-S
crease her purchases of this claas Of.
our Goods, she will be in a good Nay
to restore her industry to normal son 4
ditions and bring about the allrimpAT
tant increase in her exports OF maM~-
features that is Indispensable. toSAErg
/ economic salvation. Imports from
Europe during November wereavaia&d
! ITO millions. as against 90 hniilionas
for October. 1919, and onlyssa nm 4
lions for November, 1919, Gaina stn
IMPORTS from all the important former
belligerent nations were regtst@fed.s
These statistics and oSher evfdenAes
afford reasons for distinct hppefm-s
ness in regard to the European sitAA Il
ton.
CORPORATION ~ ~ 80
''Announcement~ has, been -m64es
that the war finance corporations cut
of it's fund CREATED. for that paarpe1e,
has advanced. or Is about TO advance
seventeen million dollars TO AmeFIckh
exporters who are selling maehiHery
abroad Announcement Of fHf 5Ar
loans by the corporation Is expected
} though 1t is not certain whethas HE
policy now initiated win be contfIf1ed
indefinitely, or whether it wiltaAh2D
lin tied to the time when sufficient
number OF Edge Law, or similar ora
ganizatfons. will" have -beea 7forA34d
and will be functioning satisfactorilys
DEaiEsr1C DEMAND FOR NEsH
s''rhat I'm arU aid for n txKA
Finance corporation in solving the
the problem of financial assistance 40
Europe will be welcome. la cleaEs4yaFn|
a persual of certain statistics recently
made public. These show that dur
ing the year 19I9. in the prihci&aI
states of the Union, charters were OBJ
tanned for corporations with am au-s
thorized capitalization of fneressthAn
IL LIZ billion dollars, an increziaesp<
Ala per cent over ibe correspoAHtA9
figure for 1918, and well wore tAfeo
times the figure for 1907, the .ynar3
Of the Incorporation Of the E1nftk0
States steel corporation. To be sn<e.
the figures are of authorized ca,pfoE3-s
ixation only, not capital issues, a1Ad
they include congratulations htalA
may involve little or no actual In
vestment of new capital. lnasnauch,
however, as the same holds. frIa Oh
J previous years. the figures CONSTITUTES
an index of remarkable domestic nv
dustrial activity and suggests atsfaHx&
ON important reason why loanx ~
Europe have not been forthaonAtn&
in the volume that had been sH86hd
= for; especially when it is considS5Ed
that the great volume of indu<AS3al
financing inyilved mere is In addiGlhn
to heavy borrowings by the federal
government and by other-gop1&n
mental units
-----------------