The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1921-06-22
Despite Many Big Failures, Busl.
ness Men Hope the
Worst Is Past.
GAINS FOR AMERICAN TRADE
low.Prleed Automobiles Have Effecsed
Conqueat-So Aaa American
Che"ing 6um-Patent Food
PRODUCTS Also Popular.

tention to the political situation. TYley
adnat OF course, that the unsettled
cohdluons OF year ago, as we'll as
the general lack Of knowledge of what
the future holds for Egypt, is q deter
rent to free commercial intercourse.
The chief cause for business worry
at this writing Is the decline in cot
ton prices plus the general interna.
honai slump In trade. The two events
coming at the same time work moro
than ordinary hardship to the business
life Of Egypt.
One business man remarked that
people In Egypt realized that the
trade of the world was in bad state;
That prices were falling the whole
world over, and that there was gen.
eral atagnation in buying. But, he
continued, "other countries have
usually more than one industry upon
which to exist Here in Egypt we
must live or die at the whm Of King
Cotton. This whIm Is not left in our
power to control We grow the cot
ton. and Lancashire and Manchester.
as well ms your big tire fabric centers
at nome, manipulate the buying price.
of course, every one in Egypt with
q grain OF common sense, realizes
that the law OF supply and demand
Kules; but, depending as 1t does upon
one industry. the business life Of the
community is more or less left open
TO unusual perils when that one in.
dustry fails"
Bulk Of Business LIE.
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
generai-those who buy In EuroDe
America or Japan and import the
goods to Egypt for local consumption.
This work constitutes the bulk Of the
business life Of the community. 1t Is
not the greatest in point Of wealth,
however, when one figures the i'm.
mense amounts involved in the col.
ecting, ginning and expectation 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
thing 20 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 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
obligations IL 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. 1t Is the gen
crnl opinion that the worst period has
passed. Those who have gone through
the crisis, either honornbly or dishon-
orably, WILL 1t Is believed, live to see
another period OF fair business
weather
1t is common talk here that in busi-
ness morality Egypt does not compare
very fnvorably with any other big
colonial market. Apoogists for the
country point to the large number OF
races engaged In commerce. Syrians
and Armcnans, Jews from Spain, Rus.
sin, Germany, Greece, Smyrna and
Palestine; Arabs. Greeks British.
Americans, French and italians all go
to make up the commercial life of
the place. 1t Is fvelanguage coun-
try in business. First and most i'm.
portant, of course, is Arabic; then
come French, Italian, Greek and Eng.
lish.
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 flour
from the North. American automo.
biles have captured the market, but
no high priced American cars are in
evidence. 1t Is explained that the
cheaper to middle-priced American car
ls more attractive purchase 20 the
Egyptian and Levantine than similar
~ priced cars made In England or on
the continent. Prompt deliveries, of
course. were largely responsible FOR
the American conquest Of this field
When vessels from New York or Bos.
ton were arriving weekly with con
signments Of tomobiles. only one or
Two cars q month were romng In from
Europe.
American sundricS nno palent food
nIndIIEtS hnNn Innln rl,nL