New-York tribune., 1921-11-17
George Post Informs Jap
anese Mission Of Arneri-
can Desires at Luncheon
of the Silk Association

Divergent views upon the raw silk
situation we're expressed Yesterday by
George A. Post, vice-president of the
Silk Association of America, and MEM
bers of the Japanese commercial mis-
sion, now in this city, at luncheon
given by the association in honor OF
the members of the mission at the
Hotel Astor, attended by about two
hundred and fifty members of the local
raw silk and silk manufacturing trade.
Mr.. Post in his address requested that
the Japanese Imperial Syndicate.
formed in September, 1920, for the pur-
pose OF pegging the price of raw silk
and preventing collapse in the mar
ket, take the American manufacturers
more into confidence. ave are very
much afraid,~ said Mr.. Post, chat this
silk IS going to depreciate in value and
quality On account of the long time
that it will be stored. 1t might be a
good policy to keep changing this silk,
selling 1t at times and buying new silk
at other times, but gradually liouidat-
ing"
Takashi lsaki, president of one of the
largest insurance companies in Japan
and chairman of the Yokohama Cham
ter of Commerce. defended the forma-
tlon of the syndicate and its present
holding of $4,000 bales of raw silk, as
serting that the action of the syndicate
IN buying silk and pegging the price
had prevented an utter COLLAPSE of the
market, which would have been re-
fiected here. and at the present time
was acting to prevent d violent rise in
raw silk prices, which are being in
nuenced upward by the poor CROP
Mr.. lsaka also made plea for the
formation of a silk association in Japan
to take in all branches of the raw silk
trade, from cocoon raisers on through
to brokers and manufacturers, with
adequate representation of the Ameri-
can manufacturing trade, the largest
consumer Of Japanese raw silk
Mr.. Post was emphatic in stating that
all in the silk trade must be careful
not to orerstimulate business at pres
ent. The silk trade here" he said,
has again overproduced and is now
suffering a reaction, which we hope will
be short lived
kaneo Nanjo, another member of the
Japanese mission and managing di-
rector of Mitsui & Co., the largest raw
silk house in the world and one OF the
largest commercial enterprises in
Japan, also defended the Imperial Silk
Syndicate, and asserted that il was the
desire of all silk men in Japan to see q
stabilized raw silk market. He also
lauded the efforts of the disarm arnent
conference, and forecast a reawaken-
ing of business life in both Japan and
America should the aims of the CON
ference be realized. He also reviewed
Japan's interests in China, asserting
that England, the United States and
Japan must work together in develop
inc China 6 natural resources
DR.. Takuna Dan, head of the jap
anese mission. made brief address. in
which he sketched the growing com
mereial relations between this country
and Japan
Following the luncheon some of the
visiting Japanese delegates visited the
salesrooms of silk manufacturers here,
including Cheney Brothers. H B. Nal,
linson Il Co. and William Skinner &
Sons. A visit also was made to the
United States Testing Company's plant,
at $40 Hudson Street.
DR.. Dan, together with Baron Shi-
busawa, Japanese capitalist, will be
guests Of honor tonight at the 153d
annual banquet of the Chamber of
Commerce OF the State Of New York at
the Waldorf Astoria.