Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-12-10
BUSINESS At HOME AND
ABROAD

One would scarcely arrive at the
conclusion the world had gone to the
bow-wows from reading the reports
sent out by the department Of COM
merce from data obtained by it. The
production of gasoline, for instance,
was 659,O6i 900 in October as COM
pared with 566,279,o00 gallons for
that month year ago. The pro-
duction of pneumatic tires increased
and stocks declined, so someone is
buying and the shipments abroad in
creased over last year. The sales OF
two large mail order houses in Nov
ember were thirty-four and half
million dollars as compared with
about thirty-one and a quarter
year ago. From May to September
this country received over forty-two
millions of German gold. Our ex-
ports Of perfumery and cosmetics
are increasing. There was decrease
in exports of farm machinery. about
fifty percent in the item of wheel
tractors. Americans are getting the
major portion of Guatamala's trade
in high grade Of felt hats, whatever
that may signify, and we are having
a good trade in hot water bottles in
the British Isles. and our lumber and
wood exports the past ten months
were Al percent greater than in like
period of 1922. Moreover money
seems to be comparatively easy in
some of our circles as during the first
nine months of this year from
Shanghai alone came mahjongg sets
to the value of ss49,s33, an increase
of 80 percent over like imports in a
like period last year.
OF foreign trade the department is
sues the following summary:
European cables to the Depart
ment of Commerce show continued
improvement in British industry, re-
covery in a number of Czecho-
slovakian industries excluding iron,
steel and lumber, depression in the
Italian iron and steel industry, and
continued excess of Swedish imports
over exports. An important encour-
aging factor in Great Britain is the
end Of the seven months boiler max
ers strike and its favorable effect on
shipbuilding and allied industries.
Unemployment in Great Britain has
appreciably decreased. Increased
Italian inquiry for American machin-
cry has followed the rise in German
prices. Italian government finances
the year being now estimated at l.
2CO,000,0 900 lire, less than half the pre-
vious estimate. Cabled advices from
South Africa report gold production
for October the largest since March,
1916. An important diamond find in
South Africa Is reported, the wool
market is strong and demand for al
most all lines of imported commodis
ties, especially for automobiles, is
good. Continued Improvement in
India IS indicated by Calcutta cables.
The unfavorable trade balance Of re-
cent months has been reduced, retail
trade is picking up and more optim-
ism Is apparent than at any time this
year."
It y interesting to note that Peru
has all arrangements made for mon
opolizing the exports of nitrates; that
Russia is willing gold and silver
should be imported freely but will is
sue only through its commissariat of
foreign trade licenses to import mer-
chandise; that she il selling consid-
cradle wheat to France and buying
merchandise in exchange; that Aus
tralia is buying more goods Of us;
that the moving picture business in
Mesopotamia right now is rather dull
in sympathy with general depres-
sion. there.