New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-02
Europeans Getting
Most of Business
I'm South America
u. S. Concerns Closing OF
fees in That Section, Com.
merce Department Told;
Improvement in Argentina

WASHINGTON. Aug. i.-~-Except for
Improvement in Argentina, business
conditions were pictured as depressed
during July In the reports of economic
conditions from its trade representa-
tives made public to-day BY the Bureau
of Foreign and Domestic Commerce
Foreign competition to American com
mercial activity was reported strong.
particularly from the Germans and
beigaans:. Prices ranging from 20 per
cent TO 10 per cent less than those on
American commodities were beino
quoted 1T was said, and numbers Of
american concerns were closing their
South American Offices.
The commercial situation in Aroen-
tina showed Improvement in that i'm.
ports were decreasing and exports in
ereasing, Commercial Attaehe FeeIv at
buencs Ayres, declared. Imports from
the United States, he added. were still
showing marked decline, and because
OF the exchange rate there was little
prospect OF placing orders for Ameri-
S srs gooos. except some necessities
Anere were few statesmen from this
country III Argentina, he said. and
many American branch houses have
gone into liquidation and the American
goods that had been congestinr the
custom House were being disposed of
slowly or returned to the United States
fcrt congestion was much imnroyed.
ne reported, the dispatch of vessels
being normal, while labor troubles
We're decreasing.
In Brazil conditions of extreme de-
preston continued during the month,
according to Commercial Attache
Schurz at Rio de Janeiro. Little coffee
was being bought by Europeans. he
SAID, although Germany was reexport-
ing comparatively large amounts and
thereby helping her export trade. Gus
toms receipts at Rio de Janeiro. he
continued, were approximately so per
cent less than last year, and the in
terror districts refused to purchase to
repienlsh their stocks. German i'm
ports have been reduced, but their
trade representatives were reported
very active. On account of the depres-
sion, five important American houses
are closing their offices at Rio de
',anelro, but this policy, he declared.
dld not seem advisable, as the Brazil
ian Congress was discussing measures
TO remedy the economic crisis.
A temporary suspension of further
sales campaigns in Peru on account
OF the general situation was recon-
Henueo py Trade Commissioner Smith
at Lima. Many importers were with
drawing from the market, he reported,
because of low prices for export com
modities, falling exchange and ac
cumulation Of merchandise. Credit
arrangements were becoming difficult,
ne added, although money rates were
stationary. 1t was currently said. he
continued, that unemployment would
increase and the lowering of wages
was expected. Stevedores and rail
way employees at Callao threatened
a strike, but its occurrence was i'm
probable, he declared. Mr.. Smith con
ciuded thai the cost of living was
decreasing and said political condi-
lions were quiet.
Increased unemployment, reduction
of government revenue and stagnant
markets continued to feature the
economic situation in Mexico, accord
ing to Trade Commissioner Connsll at
Mexico City. The financial situation
was about the same, he asserted.
Reduction in the wages of railroad
employees was said to be the cause
of threatening strikes. The high cost
Of living, Mr.. Connell declared, was
maintained by transportation difficult
ties, although he said railroad con
gestion was improving and railroad
repairs and maintenance construction
were active.