Evening star., 1924-09-16
|C|v|[ WARS HURT
u. S. FOREIGN TRADE
Tobacco, Fruit and Coffee
Suffer-Chinese Invest
in U. S. Securities.
BY j. &. ROYLE.

special Dispatch to The Star
NEW YORK. September 16-The re-
wis revolutions, political disturb
ahees ana civil wars now in prog
iess IN various pars of the world
are not bringing anv general benefit
20 american foreign trade even
'noush they have temporariIy slim
u'a'ihs effect on some lines. They
nave checked more business than
theE have produced
thousands OF ounces of American
produced silver have gone to China
Tor coinage. since payment in hard
caSh is deemed essential in holding
together the soldiers of the rival
armies there. In return, millions of
'hlnese capital is being hastily
changed INTO American securities
tabie advices to international bank
ing hrIns in this country report that
thousands of Chinese from interior
points are rushing to Shanghai and
Canton bringing their total wealth
with them.
*.0.000.0OO in L. =. Securities.
They are investing this money
largely in American and other for
eign bonds and real estate in the
foreign concession district of Shang
hal IN fear that their wealth will
be confscated 10y one or the other
of the warning factions if they place
it in Chinese banks or if they re-
main at home. About $50. .000. 900 has
been invested in American securities
in the last week
Import and export business
throughout China. however. is almost
at standstill. There is little buy
ing of American grain, -four or lum-
Der. and steel shipments have been
halted. Prices for Chinese eggs and
atbumcn. one of the principal exports
rom china to America. hay" ad-
Nanced nearly - per cent, hut AnerI-
can dealers are not pleased because
they are uncertain whether or not
they viii receive shipments. They
fear that il prices advance further
exporters V i'll use the MAR as an eN-
cuSe for failing to fill contracts at old
prices. These .S2S are extensively
used in the baking trades here.
RIow to Tobacco Trade.
The American tobacco industry is
on" of the chief sufferers. \ very
considerable portion OF the six and Il
half billion cigarettes mad" monthly
iii this country find their way tu III"
Par East. which is the heaviest for
"isn cons >umer of the American prod
u"I For Tn" first SIX months OF this
year cigarette exports trtai"d 1.S2i,-
III" revolutionary activities III Hon
duraS have resulted in a distinct cur
iIiilntnt OF trade to that Central
f;Lecicau country. Shipments Of
ruit and other Hnnduran products
have fallen off. American merchants
hesitate to send shipments OF goods
to dealers there because OF the dan
ger of contscation or damage due to
the unsettled state of affairs and to
the fact that insurance on such ship
ments does not cover damage due to
political disturbances III all cases.
Buying II turtailed.
West coast shipments and com
mercc have not been benefited by
tn" recent political disturbances in
Ecuador and chilr. although these
have not been attended by active en-
rloymnnt of armed forces These
conditions do not promise to he Of
long standing. This is especially
true in the ease of Chiic, long known
as on" OF the most buSiness-like of
the Latin American nations. But
trade in American goods has been
hampered by the natural disinclina
tion of merchants to buy heavily at a
time political happenings are likely
likely to disturb their markets.
This applies also to Brazil, where
complete recovery from the unrest
of the Sac Paulo revolt has not Yet
taken place. conditions there have
been of sufficient Importance /"
arouse wide discussion as to the
future pr'c" of cup Of coffee in this
country. coffee experts. however. ex-
l,rcsS Il" rear of a failure Of a suf-
nri"nt supply of raw coffee despite
the exceptional growth in c"usumr-
tinu.
They are not q unit in declaring
the 5-ceut cup of coffee can con
tInue to bc sold here. but explain
that transportation, fuel, rent. serv-
ice and other factors enter into this
question to an equal extent with the
cost of coffee in the bean.
Coffee Demand Very Heavy.
During the last crop year ending
June 80. coffee consumed in the
United States totaled 1.463312.225
pounds. Excluding coffee re-eXportcd
this means per capita consumption
of 1873 pounds. an increase of over
IA per cent as compared with the pre-
viouS crop year. Imports of coffee
for the year reached the highest level
in history with 1,432, 2,109,313 pounds.
The average import price was l4.45
cents d pound. OF this amount 9Jo-
95D.l67 pounds came from Brazil.