New-York tribune., 1922-06-04
sp.e,ai Ts-,,s- F,ro-e,ai co-r,,po-d,-cs

Sreeiai f0~~i7r Firorci1i Corre'roHds~es
BUENOS AYRES. May i6.-The
several loan foiations in New York
for account of the Argentine ma
tional government appear 70 have
given this republic a healthy adver-
tisement among those who have
funds for investment in foreign Sc
curities. and apart from any general
participation by American citizens
in these loans il is interesting 10 note
quite a keen demand for other stocks
and bonds Of Argentina.
The representative Of large Ameri.
car financial Institution states that
plenty Of money is available from the
United states for such stock a.
"eedulas"-the Argentine Treasury
bond Buenos Ayres municipal bonds
and those Of the Province Of Bucnos
Ayres Il is calculated that "cedulss'
CIV, not interest Of 6is per cent,
ard there is the added prospect Of a
substantial gain on exchange. Wide
awake investors got In early last year
when the dollar had local value of
ur 20 so per cen, above par, and
Argentine stocks were comparatively al
a low price. To-day the investment
is still quite attractive, though
"cedulas" have risen considerably and
the dollar has dropped TO Sl.2i (par is
sio3sl. Money RENTED from the
United States FOR the purchase and
local holding Of Argentine stocks earns
good interest on safe securities. and H.
as ve expect. the gold peso comes back
20 par within a reasonable time, sale
and conversion back TO dollars give
promise even now of direct gain Of
nearly % per cent. Buenos Ayre'
City finances are considered n be IN
n sound condition. and the man re-
sponsible. Dr Luis Cantillo. is nov
Governor Of the Province 81 Bueno'
Ayrcs hence the interest in the bonds
o; that province.
Situation Better
Al the annual meeting OF the United
States Chamber Of Commerce. held
In Bucnos Ayres last week, the follow
ing were elected 20 constitute tne
beard Of governors for the ensuing
year: President. Wallace K. Lee
Baldwin Locomotive Works; vice.
president. ". r. Clark. Henry Peabody
& Co.; secretary. n. r. Watkins;
treasurer. J. " Barker. First National
Bank Of Boston; governors, G. q
Cobean. L. Thomas. l.. o. Barr K. $
Love. y. r. Tribe. c. " WhitterDre
5. A. Allchin. r. a. Heath and c
n Abbott. The report FOR the last
year dwclt on tho difficulties which
had ATTENDED American commerce with
this country owing % the unfaYorable
exchange, and concluded with an
cptimistic forecast 90 which most
American business men here subscribe
While IL is not easy 10 say that gen
cral conditions in Argentina have ma
terislly improved in the last few
weeks there is widespread opinion
that the situation to-day Is much bet.
ter than ~ has been a. any time dur
ing tho last twelve months. and there
is A strong tone Of confidence in com
merciai circles For tho month OF
April tho business failures were les'
than those for March. and showed 4
substantial Improvement over th'
figures for April. 1921.
An Official statement Of Custom
House receipts FOR 1927 speaks elo'
quentlv of the substantial reduction
of our import trade during that year
The total received in duties was 23s,-
055.52l paper pesos. ~ against S2sh'
6s5s4S the previous yeard, and wa
S3s.s4s.47a less than the budget esti
mate Of revenue from customs.
Learning Thrift
4 common charge against the Ar
gentino is that he does not know wnat
thrift means. but the returns given oy
the Bank OF the Nation regarding saw
ings hank operations do not support
the charge. especially when taken IN
conjunction with statements OF the