New-York tribune., 1922-02-04
Cables From Latin America
to the Commerce Depart
ment Advise Caution in
Mexican Trading Field

WASHINGTON, Feb. 3.-Tmprovcd
conditions in Argentina and Peru. an
unfavorable outlook in Mexico and 1T
tie change in the situation in Chile
and Brazil are reported in the month
~ cables sent by United States com
'ncrclal attaches in those countries to
the Department of Commerce.
Commercial Attache Feely. at Bucnos
Ayres, states that Argentine exchange
or on all countries is moving moro favora-
biy, due to the increased exports and
stationary imports. A big mprovemcn,
has occurred in exchange on New Yor],
which has dropped from 1873 a month
ago to l.22. about what it was at this
time last year. This improvement is
likely to continue. The Ranco de la
Nacion says that the recent $50, 900 900
lean obtained in New York was an inn
portant factor in lowering and stabl-
izlng the exchange rates.
AS result Of the Improvement in
exchanges there has been resumed to
some extent buying in all lines al.
though prices FOR staple and special
ties are lower than they were a month
ago. importation Of American auto
mopllcS mas begun again, and there is
an improved demand for hardware, tex
tiles and specialties
stocks Of raw products on hand arc
considerable, and there is a large
amount OF wool lii the central market.
Prices Of raw products are GENERALLY
higher than those ruling month aco.
and still higher prices arc widely nre-
dlcted. Large crops are expected The
harvesting Of the last years crop is
normal. Some Improvement has taken
place in the shipping market, but rail
way receipts have fallen off 10 per cent
from 1920. State railway construction
is active.
The number of American statesmen
continues to decrease, and there have
| been mum Der Of withdrawals of Amer
lean houses.
Peru improvement Slight
The Improvement in Peru is slight,
according to Acting Commercial At
tache Dun at Lima. Some Wholesale
nrms are reporting renewals of in
qulry IN certain lines to deplete stocks.
Collections and new orders for Ameri
can goods are still hampercd bv ad
verse exchange.
. Although little change in the situa-
ton in Brazil is reported by CONNER
clal Attachc Schurz, the tone of mar
kcts there is improving No important
/ dcvelopmcnts are noted in coffee, the
political situation is quiet and money
! is somewhat easier.
NO change is expected in Chile until
/ nitrate consumption in European and
American markets increases, which may
occur in the spring.
The industrial depression in Mexico
continues, according to Commercial At
tache Alvin Hovey~ King, who advises
American shippers and business inter
csts engaged in Mexican trade to pro-
coed with caution.
Exchange Fairly Steady
While exchange has been fairly
steady during the month holding
around 40, with occasional drops to ap-
proximately AZ, loan money has grown
tigher, carrying interest rates Of Is
per cent as a minimum. Some banks
report increased deposits. Difficulty IN
making collections, however, seems to
be growing worse. In the rural dis
tricts payments are being made in
small currency.
The payment Of the oil taxes on pro
duction January 25 amounted to $780,
coo pesos, the total petroleum being
approximately 100000 barrels. a
decrease in petroleum production fol
the coming months is predicted in some
circles
Retail buying still continues dull
with little demand. Mexico City is re
ported to be doing more business than
other districts but the Chamber of Com
nerce report the total sales to be 70 per
cent under those Of last year. Business
men in general are pessimistic and an
economic crisis is feared. Census re-
turns from 90 per cent Of the districts
in Mexico show a loss of approximately
100000 since the census OF 1910.