Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-10
Washington Ticker
BY che Associated Press.

year, commerce Department officials
are confident that the 1929 foreign
trade of the United States will be the
greatest since the peak World War
years.
Through its increasing foreign trade,
too, the Nation may expect a continual
ton of good times" for business and
industry, in the opinion of Assistant
Secretary Klein, who is probably the
most expert analyst of commercial con-
ditionS in the Government. DR.. Klein
characterizes the exports as Americas
prosperity balance" although they only
constitute 10 per cent of the Nations
production.
Foreign trade is the stabilized which
fills up the gaps in the business struc-
ture," the Assistant Secretary said IF
export trade booms 1t helps us to be
prosperous. If it should lag times might
not be so good"
An analysis of the latest foreign
trade figures, published by the Com
merce Department, presents most in
teresting picture of American and
world industry. In the seven-month
period Tor this year the two continents
of Asia and South America, rich with
natural resources and huge agricultural
producers. were the only two of the six
grand divisions" of the world to show
greater imports into the United States
than in purchases of American goods
and the imports were practically all
raw materials and agricultural products.
In Europe half billion dollars worth
more OF American goods was sold over
that continents products shipped into
this country and in the rest Of North
America, Oceania' and Africa American
exports topped imports.
The principal feature of the de-
partment's report was the gain OF ap-
proximately $88,000,000 over the first
seven months in 1928, in this Nations
exports to South America, most Of the
increase having been recorded in the
second quarter of this year since the
preinauguration good will tour OF
President Hoover through that CONT
nent. While the exports increased ire
mendously, South American imports in
to this country likewise showed a sharp
rise of $38,000000. Among the South
American nations trade figures. Amer
lean Government officials gained the
greatest satisfaction from the rather
phenomenal increase of $31,000,000 in
the exports to Argentina over last year.
This gain was recorded in the face OF
stiff competition from other nations,
especially from Great Britain, which
now has a commercial mission touring
that country Brazil, Chile and Vene-
zuela also recorded large gains in pur-
chase of American goods, ranging from
$10,000,000 to $17,000,0o0 for the seven
months.
For the other continents Asia re-
corded an important increase over the
last years period in imports OF $751;
600 900, mostly from Japan, which sold
SAC, 900 worth more of her products
in this country. Canada bought $76,-
600 900 more of American products, but
her sales in this country likewise in
creased by S19OO0,000. Germany show
ed a decrease of S24000,000 in Ameri-
can purchases. but her sales here gain
ed S26,o00,0oO. Canada and Great
Britain were the best customers TO
American industry, each buying approx.
imately a half billion dollars worth OF
goods.
In an analysis of Americas foreign
commerce, which is to be published in
the near future, experts of the Cham
Der Of Commerce of the United states
have made a number of startling finds.
The most interesting is that in the first
half of this year automobile parts and
accessories led all other exports and for
the first time in our foreign trade his
tory, king cotton has been relegated to
second place after an undisputed lead
ership since the civil war;" Finished
manufactures constituted more than
half of the exports, according to the
chambers survey, and in this category
of goods 81 per cent Of the exports in
crease over the same period of last year
was recorded. Increased shipments OF
machinery, automobiles and iron and
steel manufactures were said by the
chambers experts to be largely respon-
Sible for the gain
A 80 per cent gain also was noted in
crude foodStuffs exports, with corn and
apples registering the principal In
creases. Apples showed an increase OF
269 per cent, while corn gained 95 per
cent. A 10 per cent decline in crude
materials was due almost entirely to a
1919 per cent falling off in unmanufac-
tuerd cotton. The imports into the
United States, the chamber reported
were the largest in recent years, ex-
cept in 1925, when high prices prevail
ed for crude rubber. Raw silk, sugar
furs, wool, tin, copper. cotton, gasoline
and meats figured prominently in the
increased imports.
That its acquisition of the Mobile 6
Ohio Railroad Co. was before the
enactment of the Clayton antitrust
act is an argument advanced by tbs
Southern Railway Co. in a motion filed
with the Interstate Commerce Com
mission seeking the dismissal of the
commissions complaint that the road
was illegally acquired. The Southern
claims that the acquisition was made
in 1901, many years before the Clay.
ton act was enacted and said act il
not retroactive" The commission has
taken the motion under advisement.
In regard to another line, the New
Orleans g. Northeastern Railroad Co.
also named in the complaint, the
Southern said that the former carrier
was "a necessary feeder line" to the
other competing roads in the South.
ern territory and therefore should bt
excepted from the provisions of the
Clayton act.
The utilization of a pension plan
for the retirement of aged employees
has become to be realized by many
American employees as essential to the
efficient and economic operation OF
their business, survey just made b.
the Chamber of Commerce of the
ported that its survey showed APPROX
imately 10000 retired employees are now
receiving pensions from almost 500 in
ported that its survey showed approx
duStrial and business establishments
which employ about four million work
erS. 1t added that 10 States so fal
have enacted old-age pension legisla-
ton, while the legislatures of more thar
20 other States considered similar pro-
posals at their sessions this year.