Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-17
MINING STOCKS.
Washington Ticker
BY the Associated Press.

| 4 > |
! BY the Associated Press.
| The foreign exports Of the United
States are viewed by Assistant Secretary
Klein of the Commerce Department as
paramount mainstay of the present
high position of this Nations business.
From statistics and reports received
by the department. American indus
cause in recent years there has been
rising tide of shipments to foreign
countries. Prior to the World War
the export trade constituted. only a
small part of the total volume of Amer
lean production, in the past few years
it has amounted to 10 per cent of
the total. but in the opinion of DR..
Klein this foreign commerce now forms
nearly is per cent of the Nations pro-
duction
Assistant Secretary Klein, who aptly
characterized the export trade as Amer
ica's prosperity balance" said today
that the Nations business men and
induStrialiSts were exhibiting more
serious consideration of distributing
their products In the markets of other
He said that inquiries on foreign
trade conditions and opportunities in
recent months had been pouring into
the Commerce Department at the rate
OF 1000 daily from both large and
small industries" This figure, he added,
is not only unusually high for the Sum-
mer and early Fall season, but repre-
sents an increase of 20 per cent over
the number received at this time last
year and IS per cent greater than in
1927.
Americas production is booming"
Or. Klein said. The manifestation Of
mergers of industries and the large
scale production efforts are clear signs
OF the healthy and growing condition
Of the Nations business. But distribu-
ton must keep pace with the produce
ton facilities. So American business
men with their efficiency aim are seek
ing outlets abroad for their products.
not assimilated by the domestic demand.
The foreign commerce, of course, for
the main part Is the surplus Of Amer
lean production after the domestic de-
mand is filed. But this trade Is Of
vast importance--it is the stabilizer and
balance wheel of American business
It is the filler OF the yawning chasmS
that exist or threaten to exist in the
economic Photography of the Nation"
The Assistant Secretary in discussing
the trend OF export trade disclosed what
he termed the present tempo of BUSH
ness" which is resulting in q new class
OF American goods for foreign shipment.
This tempo of business Is the fast
changing living standards in the
United States" DR.. Klein said. Amer
lean industry with the swift pace Of
new designs and products often finds
that 1t has on hand products which
have been supplanted in popular appeal
oy new inventions or improved designs.
For many of these supplanted products
way has been found for their dis
posal as often they meet with the APP
proval OF foreign consumers and are
forming substantial part Of Arneri-
can exports. AS an illustration, So per
cent Of the bicycles made in the United
States are exported"
Recent published reports that the adj
mlnlstration was considering the forma-
Gion OF large committee of business
men TO study improvement of foreign
trade were discounted by DR.. Klein, The
Assistant Secretary believes that the
organization, set up under the direction
OF President Hoover while he headed
the Commerce Department, possesses
excellent facilities In the securing of
cooperation, advice and guidance from
leading American business men. He
pointed out that the Bureau of Foreign
and Domestic Commerce has as CO.
operating and advisory agencies some
70 committees of key business men.
Each major commodity and practically
every phase of export trade, such as
credit facilities and selling organization,
Is dealt with by committee which aids
the bureau In its work.
One Of the major investigations of
the Federal Trade Commission into
American tndustry-that into the news
print paper induStry-has been prac-
tically completed. But the commissions
important inquiry into the final struc-
ture of electric power and gas utilities
has been retarded by the refusal of
several large utility concerns to permit
scrutiny OF their accounts, particularly
those relating to recent important
mergers, and by the delay of q number
OF holding companies to respond to the
commissions QUESTIONABLE.
In the news print investigation, which
was upon the practices of manufac-
turers and distributors of this product
tending 70 create q monopoly. the COM
mission has finished its field work and
expects to transmit its findings to the
forthcoming regular session of Congress.
In other activities the commission
apparently Is meeting success and found
satisfaction in a recent decree of the
Sixth Federal Circuit Court of Appeals
prohibiting Grand Rapids, Mich,
varnish company, with the concerns
consent, from engaging in the practice
of Commercial bribery" This was said
by commission officials to be the first
time q Federal court has defined COM
mercial bribery as an unfair method Of
business competition.
Commercial bribery was one of the
trade practices strongly promulgated
against by the commission In a trade
practice conference with the paint,
varnish and lacquer industry year
ago. The latter industry readily agreed,
and. in fact, opened the books of its
leading concerns to the commission to
eliminate this form of competition, be-
ing practically the only industry to CO.
operate to this extent with the commits
sion
In its investigation of the white
pine" caseS-alleged INSTRUMENTATION
of lumber-the commissions work is
proceeding rapidly during this week
! Two hearings, at Detroit and Indianap-
oils already have been held and an
other is slated tomorrow at Chicago. The
ton.
The inquiry is into the use of the
words white pine" In the description
of products made from Western yell
low pine" The commission contends
that white pine and Western yellow
pine are botanically dissimilar.
! Onicials of the Department Of Justice
| estimate that approximately 100 merg-
ers are confronting that governmental
| agency for its scrutiny and decision.
| The department apparently Is receiving
| the submission of merger plans faster
than 1t can render decisions for the