Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-13
TRADE RECOGNITION
Of RUSSIA IS SEEN
IN SECRET PARLEY
Vast Importance Attached
to U. S. Bankers Banquet
to Soviet Leaders.
By the Associated Press.

d
NEW YORK, December 12.-
American bankers and Russian indus
trialists gathered at a banquet at the
Bankers Club in New York Thursday,
and, in view of the commercial posi-
bilities of Russia, the meeting of bank
ers and Russian business men took on
unwonted significance.
Absolute secrecy, however. sur
rounded the proceedings, so far as
American newspaper representatives
were concerned, but the Russian semi
official news agency was able TO ob-
tain some of the details which were
forwarded to Moscow and published
there.
Though information was refused to
the American representatives., as the
banquet was declared to be of prl-
vate nature, the Associated fress III,
structed it's Moscow bureau to send
hack to the United States the account
of the dinner as made public In Rus
ria and is thus able to present an out
line of the proceedings.
Importance of Trade.
THE most significant indication OF
the increasing Importance OF SOVIET
American trade" says the caoled ac-
count from Moscow, was banquet
today (Thursday) at which Reeve
Schley, vice president of the Cnase Ma
tionai Bank. entertained officials OF the
Soviet trading organizations, together
with representatives of the most I'M
nortant American financial and IN
dustrial concerns.
.Nominally the banquet celebrated
the awarding of prizes to American
manufacturers whose automoplles sue
cessfullv participated in the SOVIET
road endurance tests last Summer Ac-
tuallv the real significance OF tooay
events greatly exceeded this incidental
circumstance The banquet was tne
fret or1tspoken recognition by Amerl-
nan tinance and industry of the I'M
nortance of Soviet trade and the std
hilitv of the Soviet government.
.'The Chase National Bank, "nlch
,bou,ad the earliest initiative IN nnanc-
ing the Soviet textile syndicate poI-
chases of American cotton, and Whlch
largely and profitably participated IN
this and other Soviet commerce III tne
last two years, took this occasion 10
nxpress confidence in SOVIET trdails
institutions and thus increase the coil-
fdence of American manufacturers, IN
this way prompting lncredSeu 'i"ue
with the Soviet union.
Unions Economic Progress.
"Mr. Schley, who presided. spoke OF
the economic progress of the SoVle'
union in the last two years IN over
coming the effects of war, blockade
and famine. He described a Visit
which he made to the Soviet union
last Summer, when he was greatly
Impressed with the general order, es
necially the excellent condition OF the
RAILWAYS. Charles M. Schwab, chair
man of the board of directors OF the
Rethlehem Steel Corporation, eX-
pressed satisfaction over the fact that
Russia was again trading With
America.
MIR. Schwab said that the Bethle-
hem Steel Corporation had sold much
! steel to Russia before the war and
| hoped to sell more in the future.
American manufacturers, he declared,
| welcomed business with the Soviet
| trading organizations, and ne ex-
dressed confidence that the economic
| and commercial relations between the
| United States and Russia would de-
velop greatly despite all obstacles.
Paul Ziev, president of the Amtorg
| Trading Corporation the Soviet pur-
| chasing agency at New York; spoke
| with reference to the recent develop
| ment Of Soviet-American commerce
and described the future possibilities
of increased trade.
! "Prizes were awarded to seven
manufacturers whose automob1les,
entered through the Amtorg Trading