Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-23
Exports and Imports in IAN
uary Throw Light on
Buyer Situation.
UNTITLED STEEL ORDERS
FURNISH BRIGHT SPOT
Merchandise Prices Sag in SYM
pathy With Decline in
Raw Materials.
BY JOHN F. SINCLAIR.

NEW YORK, February 22.-"How
about business? Do the figures indicate
a business recovery? Give us the facts"
writes a Georgia reader.
This correspondent, who evidently
likes figures, probably knows that the
United States exported $487, 1856, 900 in
January of 1929, as against s417,0o0,000
this year-a drop of more than 70,000,-
900; imports we're $685., $3.50, 900 in jan
uary last year, as against s312000,o0O
this year-a drop Of more than 56,000,-
900. So both imports and exports are
OF.
Bank debts for January, 1929,
amounted to $82 ,845,000 as against $780,
$4,000 this year-a decrease again of
S22, 391 900. Building construction, ac-
cording to F. W. Dodge. has declined
from $409 900 in January, 1929, to
S343,975,000 last month.
Auto production showed 4o2,154 units
a year ago January, as against a pre-
lim1nary estimate of 100000 in January
last; the United States consumption of
cotton was 668, 1886 bales in January.
1929, and SIT ,235 bales for January this
year. Pig iron production in January,
1929, amounted to 3,442, 900 tons and
1927, 600 last month.
Steel ingot production amounted to
4,49o,000 year ago and 3,786,000 this
year.
But the unified steel orders at the
end OF January one year ago were A.
190,487, and 4,469, 900 this year. This is
the bright spot.
With very few exceptions, the prices
OF merchandise have tended downward
since January. The decline In exports
has hurt both business and agriculture
Harry w. Hosford of Cleveland states
the situation in nutshell when he says
there is more merchandise being pro-
duced than the public can consume"
Natural Gas Business.
Probably the largest distributor of
natural gas in the world is the Columbia
Gas Sc Electric Co., with SO per cent of
its revenues derived from the produc-
ton and distribution of gas
The consumption of natural gas has
increased 408 per cent during the last
"a years, and at present it represents
about IS per cent of the total gas pro-
duced. With the development of bet
ter quality of pine, which resists rust
and corrosion and prevents leakage, the
natural gas business has Jumped ahead.
The more recent movement to con-
serve the gas of the oil wells has like
wise had its effect, because natural gas
as fuel has twice the heating value of
coke oven gas, its closest competitor.
or all the natural gas produced last
year, 80 per cent was diverted for IN
dustrial purposes and only 20 per cent
went into domestic use. Columbia Gas
& Electric's big gas fields are in West
Virginia and Ohio. In the next year or
two the extension of gas pipe line into
the leading industrial centers of the
Eastern seaboard is expected to be very
rapid, parelleling the expansion of the
electric light and power industry during
the past decade.
The electrical industry will continue
to grow and develop, but the gas field is
only in its infancy.
Merger idea in Sweden.
Tvar Kreuger of Sweden, head Of the
firm of Kreuger & Toll. has gone a long
way in business since he landed as a
green country boy In New York looking
for a job and experience.
The merger idea in Sweden began 81
years ago when Mr.. Kreuger, who with
his partner Paul Toll, combined IL
Swedish factories into the United Swed-
ish Match Factory. Then in 1917 he
Joined all the important match COM
panies of Sweden into the Swedish
Match Co.
Now, in order to obtain match con-
cesSions in the various countries. it is
the custom of Mr.. Kreuger to make a
loan to the various governments at rates
much more favorable than can be OBJ
tanned from the bankers. A short time
ago he loaned $l25, 100000 to Germany.
while bankers were dubious about the
proposition. But he got the match
monopoly for all Germany which, over
period Of so years. is a most valuable
concession.
Already Mr.. Kreuger has loaned va
rlouS European governments more than
$500, 100000 and stands today as the
most powerful match figure in the
world.
No American Peasants"
Bertrand Russell, British philosopher
and writer after a personal swing about
the United States, sees vast difference
between the South and all other sec
tions.
The South. he views as agricultural,
aristocratic and retrospective, while the
rest of the country he calls industrial,
democratic and prospective.
"A peasant as he exists in Europe and
Asia is practically unknown in the
United States. This is an immense boon
to America and perhaps its most i'm
portant superiority as compared to the
old world, for the peasant everywhere is
cruel avaricious, conservative and inefi-
Gent"
This British philosopher believes that
the civilized world will continue to be-
come more standardized and mechanical
and that these two forces together will
make 'internationalism become easier
as the differences between nations d.
minish" ...-.
1t is uuon such an enonhasis that
American industry has rendered its most
valuable service, according to Mr.. Rus
sell.
Gold Port Tax.
The port Of Rio de Janeiro charges
2 per cent gold port tax, payable on
all shipments in and out The port of
Santos, its competitor city, has no such
tax.
So Rios trade Is diminishing and San
toS' Is increasing. A commission ap-
pointed to investigate found that the
per cent tax had already paid for the
cost Of constructing the Rio port. Then
why not abolish the tax? Not SO easy.
The tax will probably remain as long as
the present concessionaireS continue to
operate the port. Rio, in the meantime
finds the tax, paid in paper, represents
about per cent of the Official value of
the merchandise clearing the port.
World shippers, other things being
equal. favor the ports that are tax Frss
(copyrieht 1850. by the Nor Se Az a.l trss.
...., Neysuaper Aiilance