Evening star., 1923-06-11
IMPROVED CREDIT
IS SEEN ABROAD
.
J. S. Exporters Pleased Over
Austrian Loan---Cotton-
seed Mill Men Worried.
BY j. c. ROYLE.

Special Dispatch 10 The Star.
~. NEW YORK, June 1.-THE speed
with which the $25,oo0,0 900 public Of
fering of bonds of the new Austrian
government loan was absorbed by
the American public today brought
Increased confidence to aGriculturists,
manufacturers and producers for the
stabilizing of export demand for
their products.
But a short time ago the financial
condition of Austria appeared almost
hopeless. The kroner had fallen so
low in comparison with the dollar
that the ability of that country to
absorb and pay for American goods
seemed nonresident. Recovery, how
ever. under conditions imposed by
other nations which had been APP
pealed to for help. has been phe-
nominal and the Willingness of in
restors not only in the United States
but in eight other countries which
will participate in the loan totaling
$126,000,000 altogether, has encour-
aged American exporters to hope that
the credit condition OF other war-torn
countries is not by any means hope
less.
AS to credit conditions in this coun-
try, the concenSuS of opinion eX
pressed today by credit men repre-
senting the largest manufacturing
and mercantile houses in the country
gathered at Atlanta was that the re-
cent slight lull in business activity
had been overemphasized This atti
tude was voiced by j. II. Tregoe, Sec
retary treasurer of the Credit Men $
Association. who said: Our credit
situation is absolutely sound and at
present there is not a single germ Of
imitation anywhere"
Confidence Among Retailers.
To- e =
by business leaders and heads of large
department stores throughout the
country. In fact, the contrary is the
case. according to Farde Mcfarland
porting Company, wholesalers OF
jeweiS''s' snAcialties beads, objects of
art, porcelains and pottery.
We liIIa our business 80 per cent or
more ahead of last year" Mr.. McFar-
land said. and this is practically the
middle of the season. AS we sell to
80 per cent of the department stores
in the United States II is obvious that
our business represents pretty ac-
curately the conditions obtaining in
general throughout the country.
THE better and broader buying by
merchants in the central west. in H.
linois. Indiana and Wisconsin, for ex-
ample, is especially noticeable. There
is constantly increasing demand
from those sections for Asiatic and
European merchandise
Cotton Seed Mill Men Worried.
Cotton seed crushers are facing a
crisis and must fight for their ex-
istence, f. r. Eismann, president Of
the Interstate Oil Mill Superintend-
ents' Association, stated today. Mills
have been hard hit by the reduction
OF acreage. the boil weevl and labor
shortage" he added. we must look
for other products to manufacture
or many of us will have to go out
of business. Our one best bet at
present is in taking advantage of the
increased production of peanuts and
soy beans, which make good COM
mercial oils"
Thousands of peanut growers in
Virginia, the Carolinas and Georgia
have already signed contracts with
their cooperative marketing organi-
cations for this seasons crop. ORR
entail wood and vegetable oils are
now being imported In record break
Ing quantities through northwestern
Pacific ports and SHIPPED in tank cars
throughout the remainder of the
country for distribution.
Many Cotton Fields Barren.
Texas presented better prospects
than other states for cotton crop
large cotton buyer of Houston, who
has just returned from a swing
through the south. Il saw few clean
fields" he said, and few good stands
outside of Texas. In the Lone Star
state, however, conditions are prom
Using. Great prosperity will come to
Texas should the general crop be
short"
Copyright, 1921