The Washington herald., 1921-03-12
STOCK PLEADS FOR
LOCAL SUPPORT Of
FINANCE COMPANY
Foreign Trade Corpora
ton May. Die Unless Lib
era1 Aid Is Given.
DEBATE IS COSTLY
Britain with Half Our Re-
sources, Extends Credit,
Says Financier.
DEBATE is COSTLY


Pointing out that there is grave
danger that the 100000. 900 Foreign
Trade Financing Corporation VIII
die aborning unless II receives more
liberal support from the people OF
the limited States, Z. l. Stock d.
rectdr Of the International Finance
Corporation. Fat = meeting Of the
Merchants and Manufacturers As
sociation last night called upon all
local business men 10 do their share
in putting this new organization
over the top"
Busine.. Must be Mobiiised.
american business must be mo-
bilized to nght for international
trade the same az the young men
of the country were mobilized 20
protect our honor in var" declared
Mr.. stock. IF America Is to main
thin the enviable place she gained
in international commerce during
the war" he said. I'VE must all
contrihute our mite TO achieve that
end. Zone way to gain'that goal Is
10 EspportS this new organization
which was formed for the purpose
of enabling American concerns to
sell goods to the people of other
countries on long term credit, ana
thus keep our factories and mines
~saA-~furnaces and railroads and
ships busy. and our wage earners
zenp3eyed.-------- -
While we are debating what We
shall Ao,z British bankers, without
half otr. resources. are stepping in
9arAN ~
slsft, helping British manufacturers
To. sell their goods on longtime
credits. Meanwhile we have an un-
employment problem that is grow
ing more serious every day.
Other speakers were H. II. Mckee,
banker. and Gray Silver, Washing
ton representative Of the American
Farm Bureau Federation. These
three men comprise a committee
representing the organizers of the
Foreign Trade Financing Corpora
tion in the District Of Columbia.
Mr.. Stock represents the COM
emerciap interests on the committee,
; and while there are practically very
few manufacturing plants in WASH
= ington. Mr.. Stock pointed out that
= ms place on the committee was i'm
Portant because foreign trads
meant a great deal TO washington
merchants.
Foreign Trade Affects All.
Mr.. Stock emphasized the point
that everybody in the. country is
either directly or indirectly affect
Cd by foreign trade. Interstate
eommerce." he said. rs nothing more
tnan an exchange OF surplus prod
uets of one country for the sur
Plus products of another. and when
ever situation arises, like the
present time, when we can't send
our surplusage abroad and receive
the surplus of other countries in
> return. then our whole economic
? foundation is disturbed Doa.
anyone doubt that IL we could -seII
the billions OF dollars worth of
wheat and manufactured products
stored up In the country. abroad
that we should find relief from the
Z existing business slump?
- And that is one thin1 that
wIil be able to do IL the right kind
OF support Is given to the FOREIGN
ATraoe Financing Corporation. That
corporation will provide the credits
which Will enable American farmer.
ana manufacturers to ship their
-ssoods to foreign markets"
IN conclusion. Mr.. Stock made q
strong appeal to the local business
men 10 get behind the new corpora-
oons and help TO make 1t a success.
.s-s Local Securities.
91i Recent activities in local securi-
ties were renewed on the wash
inston Stock Exchange yesterday
lWhen comparatively heavy trading
was INDUCED in. A somewhat easier
'ntoas. prevailed and quite a few DE-
: -e4tnes over the previous close oc-
cscned.
washington Railway and Electric
per cent bonds proved themselves
l3eaeers of the session. sales aeere-
z eating $4,000. face value. being re-
= ssrded. This security opened at
sssA, at which quotation $4,000
worth were disposed of, then drop-
ping to ssh. ARacossia and Potomac
RailFnad 5s, sold to the extent of
$4,000, opening at 81 and sIroppinr
back to 66 on the closing sale. wssbe
ineton Gas IN per cent notss CO..
tinnkd to sell at 1904. ana C.ni,.,
Iraefion es continued TO rule steady
T-Sssitsl Traction shares scored an
fvxnce Of y Of a point. this stock
opening at sSk and advancing to
80 In a-twenty-fve-share lot sale
made after call. Sales totalling as
shares were recorded. Continental
Trust Company stock slumped from
lo7 to 1oeh on two sales aEgreeat-
yng. 20 shares Railway preferred
Wares sold at So.