The Birmingham age-herald., 1921-06-10
WORLD ECONOMIC
 SITUATION SHOWS
 BUT FEW CHANGES
Financial improvement in El- rope Shown, But Trade and Shipping Dull, Summary
 Indicates
By Associated Tres.

Washington, June s.--World eco homie conditions during May pointed to no immediate general business re- vival, according to the monthly sum maries from it's foreign representa- tives issued tonight by the bureau of foreign and domestic commerce.
 Considerable improvement finan- cially was noted in Europe. but trade and shipping were dull with marked industrial difficulties apparent In some countries. In the far east inn provemcnt in conditions was reported slight and in South America the situa- ton was reported practically un- changed but with less confident tone to future prospects.
 Varying conditions in the cotton markets abroad were reported. In- quiries relative to American cotton was reported to be increasing in Bel- gium and slight increase was not ed in France. Stocks of America n cotton at Havre May 19 totaled i17,- 900 bales and 37,000 bales ssere re- ported afloat The cotton market in | 1@OflukdI WAS utChdIcu JO DG QHuCI stocked while notable decrease in the stocks of cotton in Great Britain was observed during the month. These amount to s5,o0o bales as com pared to fso,oeo bales on hand at the same time last year.
 Prices Are Declining ! In England during the month a downward tendency in price was shown. A general strike in the cot ton industry there is expected, the report said, because of proposed wage reductions.
 Demand for cotton in China was re- ported dull because of overstock ed markets, though there was a notable increase in the imports of cotton mill machinery, cotton spindles and cotton yarns while Chinese and Japanese in vestment capital was going into cot ton mills.
 While money is easier in Great Britain, the coal strike has caused a general stagnation of trade and in- dustry, the London report declared. The industrial situation probably has never been worse, the report contin- ued, with over 2,o0o,000 persons idle and all industries not shut down op- erating on part time.
 The French government appears satisfied with the success of the i00,- 000, 900 pound loan f1pated in the United States and feels it will per- init the payment of debts previous ly contracted in this country, the Paris report asserted.
 Revival Indicated
 Evidences of revival in Belgian industries affected by the British coal strike were reported from Brus- sells. together with an increase in the imports of American foodstuffs and cotton.
 A decreased foreign trade to- gether with an acute industrial crisis resulting from decreased prices were regarded as the outstanding developments in Italy during the month. Splendi4 crop prospects. however were reported.
 The financial situation appears to be improving in Germany, the Ber- lin report declared. but the indus trial situation is being seriously bampered by the Silesian trouble and consequent coal shortage. Marked activity in establishing agencies in Austria by British, East Indian and Japanese interests, was noted
 There were no signs of improve ment n economic conditions in the Scandinavian countries, the advices said. Slight Improvcmen A revival of industrial, activity iE China was offset by q pressed cont modity markets and nall silk crop, according to tn report. while economic condf ln Japan were said by Tokio ads.-~s to show only slight improvement, though the financial situation was better. Except for improvement in the government finances, economic con ditions in Mexico were reported prac- tically unchanged.
 Argentine financial conditions were reported as about~> the same but with decrease in commercial failures. Imports from Great Britain except textiles, were observed to be de- creasing and German competition was reported keener.
 Little change in the commercial situation in Brazil was noted The Belgian economic mission was said to be actively promoting trade rela- tions with Brazil, while Germany was making every effort to regain it's former position, being favored by it's liberal credit terms and low ex- change rates.
 The financial position of the Chilean government was reported as still critical and continued unsettled economic conditions in Peru were shown.