The Washington herald., 1921-08-07
South American Outlook.


NJ ica showed slight gain in activity for Ar
eentina. depressian still ruled in Brazil Chile.
Mexico and Peru, according to monthly cable advees
received at the Department of Commerce.
The commercial situation in Argentina shows inn
provement in that imports decreasing and exports
increasing Exports European counties and to Brazil
made up primarily Of wheat and corn. have increased
notably. Imports from the United States are still
showing marked decline. and on account OF the ex-
change there is little prospect of placing orders
for American goods except for necessities such as oil
well equipment, railroad supplies. textiles, and office
supplies Belgian and German quotations for future
delivery averaging 50 cent less than American
quotations and large orders have been placed in the
former countries for textiles, steel paper and hard
ware There are few statesmen from the United States
and many American branch houses have gone into
liquidation The American goods that have been con-
gestng the custom house are being qudated slowly or
returned to the United States
n Stocks and Prces
Continued liquidation has reduced the stocks on
hand that the amounts of steel paper. chemicals.
cotton textiles lubricants foods and hardware. less
than At this tic last year. Retailers still reducing
the volume Of goods carried; however, stocks Of
Of the leading export commodities such wheat corn
wool and hides are greater than last year The SUR
plus wheat and available for expectation
% soooooo Prices Of nseed corn, and oats are
lover those Of. wheat wool and hides are about the
same last month. Lower prices for materials
and for imported manufactured articles predicted.
Se~d stocks sufficient and planting is progressing
normally
Bank rates are lower. being quoted at per cent
on July a7 compared with per cent at this time
last month. Outward tonnage exceeds demands and
rates expected to 60 lower The freight nseed
is now $3.50 per ton. and hides $aI.so Sixy-fou
ships arrived At Buenos Aires last week thiryfour of
which came in balasts Port congestion is much inn
Of bunker coal and oil normal Labor troubles in
general are decreasing
Conditions Of extreme depression have continued
during the month Of july. Stocks on hand are not
reduced sufficiently to force buying at present ex-
change rates The interior districts refuse PURCHASE
to repenish their stocks Custom house receipts at Rio
de Jancro approximately 80 per cent less than for
the period last year. The operations of the reds
count department Of the Banco do Brasil for the period
February to July IA amounted to I377o3ooo mreis.
German imports have been reduced but the trade rep
resentatives are very active: They continue to offer
prices to rs per cent cheaper than those offered
BY american firms especially electrical goods iron
and steel products, and chemicals Bclgnns quot
ing very low prices on iron and steel products
Although FIVE important American houses are clos
ing their offices at Rio de Janeiro on account Of
fhe depression. this policy does not seem to be ad
visabe. Congress IS discussing measures designed
remedy the economic crisis. The finance committee of
the lower house proposes suspension of public work
that Is not urgent. and advocates increasing in
porting. Amy radical relief measures is improbable.
Exchange shows signs of strengthening after the
depression about the middle Of the month. More,
coffee bills in the market but there is small de-
mand. The average sight rate for dollars for the
week ended July 70 was 1000 milreis. The rate on
july ~ o,sso milreis.
Brazilian Trade. .s
Brazilian exports for the first FIVE months for 1870
valued at 6o376oooo mlreis as compared with
value OF 8oSaooo mreis for the same period of last
year and imports were valued at s73768ooo milres
compared with s866ooooo mreis for 1870. Imports
for May alone amounted to I54.ISoooo milreis Ex-
nors Of sugar Amounted To 81 snz metric tons and