The Washington herald., 1922-07-02
ARGENTINE TRADE
UNCHANGED SINCE
MAY IMPROVEMENT
Exports Decline Inter
est Rates Falling-Bank
Loans Improve.

Total imports into Arrentsps
during June about equal those Of
May. Exports however show a DE-
cline. according to q cable report
from Commercial Attache FeelA
Buenos Aires. The government "A
considering the ezchaase VI A-ren-
tine meat for German manufactures
products in oro-r 20 relieve the de-
precision In the live stock Industry.
The request Of the privately owned
railway companies for an increas,
OF rates. previously denied. has NJ
last been granted
Imperss and Exporta
American representation IN Ar.
sentina continues to be augmented
by Increasing numbers Of American
saiesmen. During the month two
steamers discharged 10000 tons Of
cargo from the United stste, I'm.
ports Of coal totaled ITO, 900 tonk
practically all Of which came from
Great Britain
Argentine exports for the month
OF June TO date have been as fol-
lows: 100000 tons Of wheat, $50.
900 tons of corn. $4,000 tons OF lin
seed, I'll, 900 tons of oats, and $1,000
tons Of flour. Shipments OF wool
during the last nine months show
remarkable increase over those
during the same period OF lsio-isfi.
amounting TO $4,000 bales as COM
pared with $4,000 bales. Shipment,
Of beef during the last four month";
evidence a considerable decline. to-
falling 1.36s.O0o quarters: exports
during the same period Of 1921 were
100000 quarters. Hide shipments
on the other hand show a great in
crease. amounting 20 tf5s.OOo dur
In gthe last four months as CON-
psted with $4,000 during the same
four months OF 1871.
Stocks Of commodities available
Tor export are generally less than
they were at the close OF June last
year. There was on June %. 1921
a surplus for export OF 60o. 900 tons
OF wheat. 100000 tons OF linseed,
and s3o. 1000 Of oats The stock of
wool in Buenos Aires on Jure ~
amounted to 1000 bales as compares
with $4,000 bales at the same time
last year. The carryover OF corn
has been estimated at 100000 tons
The prices OF staple export COM
inodities have not varied much from
those Of last month.
ExchsnEe. Banking and Irvcstmert~
The average Of exchange for ths
first twenty-four days Of June was
l.i3 gold pesos TO. the dollar. The
average of May OF i.2o gold pesos
per dollar shows a fall IN the value
OF the peso. while present bs NJ
rates Indicate a further deprecis-
tion. The exchange for an cur
rencies has been steady during the
month, marks and pfennirs eTi
cepted.
Interest rates are falling ana bank
loans show an improvement. Check
ing deposits in the banks. however,
are less than those Of last month
Serious failures continue TO occur.
Foreign capital is stifi finding an
outlet in the exploitation Of the
petroleum fields, while national
mortgage certificates, the thirteenth
series OF which was issued durins
the month. have furnished an sddi-
tional outlet.
A loan for 10000. 600 paper pesos
for the purpose OF converting the
public debt and 20 construct public
works has been recommended by
the governor OF Buenos Aires
Farming. Employment. Trsnsports-
tfon
The planting Of corn and the hsr-
vesting OF winter crops has been
greatly delayed owing to continued
hot weather. The marketing of
crops and the railroad movement
have shown no change since last
month Immigration is on the in
crease and unemployment is much
in evidence.
while outward tonnage exceed
the demand shipping rates are re-
naming normal. and the demand for
American cargoes Is witnessing an
improvement.