Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-24
LOSS OF RUSSIAN
TRADE THREATENED.
Business Men Watch Inquiry
Into Activiti S of Am
torg Corporation.
By IOHN 2. sINCLAIR.

BY JOHN r. SINCLAIR.
Special Dispatch to The Star.
NEW YORK, July 24.-Peter A. Bog
danov, head of the .Amtorg Trading Cor
poration, occupied the center of the
stage yesterday at the Congressional
Committees investigation of Soviet ac-
tivities in the United States and uttered
yelled threat to withdraw Russian
purchases unless persecution of the AM
tory ceased" :
Unless the charges made by various
Americans that the Amtorg has used its
powers for propaganda are thoroughly
Investigated and found baSeleSs," saio
this Russian business man even the
continuance of 'Soviet-American trade
will be an almost impossible task"
Rusisa's trade with the United States
has been growing In 1924-25, the
United States sold to Russia $82, 000, 900
worth. In 1928-29, $13S, 100000 worth,
and in the first nine months of the pres
ent fiscal year to June 10, the American
exports to Russia exceeded $4,000, 600:
Hamilton Fish, jr., Al, chairman OF
the Congressional Committee, is one OF
Harvard's honor graduates.
He turned to politics early and became
a member of the New York Assembly in
1914. When Edmund Plat resigned
from the House of Representatives to
become a member of the Federal Re-
serve Board, Mr.. Fish was elected to
succeed him
During the war, he was captain of q
New York colored Infantry, which took
part in several important battles in the
great war
American trade with Russia may
cease. That is why the committees
investigation is being followed closely
throughout the country with keen In
| terest.
Germany was hard boiled Ameri-
| can films, using American equipment,
! had lost out The German courts
had passed the death sentence. Soon
not an American Aim would be shown
| in Germany.
Then last May. Adolph zukor, presi-
dent of Paramount-Publix, arrived in
Berlin. He had a few confidential
conferences with leading German mo-
ton picture officials.
Upon his return to the United States
| 10 days later he announced that 1t
was possible for the German and the
American groups Ito quit fighting and
get together"
Within two weeks, Will Hays had
| left for Europe, followed by j. z. otter
son, representing the Electrical Re-
| search Products; G. j. Ross, represent
ing the r. G. A. Photophone. and J.
c. Graham, representing most of the
other motion picture companies. In
Paris they met with the German rep
| resentatives.
| After five weeks of negotiations the
Ratchet has been buried with the pool
| ing of the German and the American
! patent rights. The German groups
| get the right to manufacture motion
| picture equipment under the pooled
| patents for nearly all of Europe,
American interests for North America.
| Australia, New Zealand, India and Rus
STA
The rest of the world. including
| France, England, Italy and Spain. is
open to the competition of both groups.
The purpose of the arrangement"
says the official statement, sis to pro-
vide for the widest possible use of
patent rights and technical information
controlled by German and American
interests. These rights are available
now, not only to American and Ger
all other nations
The automobile industry. after being
harassed for years by patent lawsuits,
pooled their various patents for the
good of the trade and built up the
greatest industry in the world. The
motion picture industry, learning from
experience, has decided to do likewise
1t is big step ahead.
why did the City Of New York
this week issue $3.50, 100000 in short
time obligations (not exceeding nine
months) to secure funds for it's various
longtime construction programs? Why
mt LONG .fiY,na ntNIinot cnlA i.z
stead of short-tinne ones?
The answer is that the short time
issues are in great demand by the
banks at this time. Witness the in
terest rate of ga to ga sper cent
annually record price.
longtime bonds are not yet selling
with any particular briskneSs. Why?
Because the banks are loaded up with
them and they have dropped in price
to point where they cannot liquidate
without suffering substantial losses.
Until the future trend of money be-
comes clearer short-time obligations
will remain in the center of the pic
tlire.
Too many longtime bonds were sold
in the boom hysteria. These have to
be "digested" before the market can
absorb any further substantial volume
of them.
To the suggestion of the five Sem
ators-Capper and Allen of Kansas,
Manchester of South Dakota, Pine of
Oklahoma and Howell of Nebraska
urging the purchase of 100000 bushels
of this years ~wheat to export to China
and India, Chairman Legge has turned
deaf ear.
Senator T. H. Caraway of Arkansas,
another farm relief champion, interprets
the present farm policy as city, rather
than farm. relief.
1.-THE Farm Board is seeking to per-
suade farmers to reduce production.
The real purpose of this is TO relieve the
world market of the burden of Americas
SURPRISES of farm products. so that ex-
ports of industrial commodities will have
a clear field abroad.
THE board also is endeavoring to re-
duce costs of farm marketing and
production. The idea of this is to pro-
vide cheaper food for the consuming
centers. The whole thing" continues
Senator Caraway. conforms closely
with the big city mans idea of relief.
But II wholly justif1able from the in
dustrialist's point of view, 1t is a per-
fectly harmless program from the stand
point Of agriculture, because the pros
perity OF the farmer is entirely incident
al in the whole scheme
AZ least 90 per cent OF the big BUSH
ness leaders that / have spoken with IN
the last so days oppose the Farm Boards
policies. The National Chamber Of
Commerce. led by Julius II. Barnes has
condemned 1t. Nobody seems to be
for II.
Farm Board, is fighting Its battle almost
single handed.
II he succeeds In getting wheat and
cotton acreage reduced Is per cent and
i In effecting cooperative marketing