The courier-index., 1921-05-27

that the law of supply and demand rules; but, depending as it does upon one industry, the business life of the community is mora or less left open to unusual perils when that one in- dustry fails"
 Bulk Of Business Life.
 This business man was engaged in the wholesale supply of sundries and novelties. His point of view may be accepted as that of such traders in general-those who buy in Europe America or Japan and import the goods to Egypt for local consumption. This work constitutes the bulk of the business life of the community. It is not the greatest in point of wealth, however, when one figures the i'm mense amounts involved in the col lecting, ginning and exportation Of raw cotton. Egypt's normal cotton crop is handled by about dozen large British and Levantine firms, with headquarters in Alexandria. These latter have been the biggest sufferers, but only from lack of some thing to do. They rarely invest their money in cotton before the. selling sea son opens, when the goods come from the field.
 As the drop in cotton prices began almost at the beginning of this sea- son, the big brokers were thus not caught with a great amount of stock on hand. The merchandise dealers on the contrary, continued their buy ing right up to November and are even now being loaded up with stock. if paid for before shipment, or with obi ations if shipped against docu- ments. This is spelling ruin for some of the largest houses. Many serious failures have occurred, and In Cairo alone three department stores have gone into bankruptcy. It Is the gen eral opinion that the worst period has passed. Those who have gone through the crisis, either honorably or dishOn- orsbiy, will, 1t is believed, live to see another period of fair business weather.
 It is common talk here that in busi- ness morality Egypt does not compare very fsvorably with any other big colonial market. ApolOgists for the country point to the large number of races engaged in commerce. Synans and Armenisns, Jews from Spain, Rus sia. Germany, Greece, Smyrna and Palestine; Arabs Greeks, British. Americans, French aud Italians all go to make up the commercial life Of the place It is s 6ve-language couB- try in business First and most i'm come French, Italian, Greek and Bng- fish.
 Growth of American Trade.
 American trade with Egypt has made wonderful progress, considering the fact that before the war this mar ket rarely knew American goods. The bulk of the shipments arriving from home, however in 1920 consisted of coal from Newport News and -four from the North. American automo. piles have captured the market but no high-priced American cars are in evidence. It is explained that the cheaper to middle priced American car is more attractive purchase to the Egyptian and Levantine than similar | ly priced cars made in England or on | the continent. Prompt deliveries, of | course, were largely responsible fer | the American conquest of this field. When vessels from New York or Bos- ton were arriving weekly with con | signments of automobiles, only one Or two cars month were coming in from Europe,
 | American sundries and patent food products have made marked progress. On. every hand one sees America's favorite breakfast dishes advertised and displayed. American chewing gum has become the craze of the na- 1 Hvea
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