Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-07
ITALY IS SHOWING
/ TENDENCY TO BUY
Credits and Collections Re-
main Difficult, Says Com
merciaI AttaChe.

italy is showing "a decidedly increased
inclination to buy If terms are at all ar
rangeable," Commercial Attache Mowatt
M. Mitchell today notified the Com
merce Department. Credits and collec-
tions, however, remain extremely diff
cult. according to Mitchell's cabled re-
port.
The Rome representative of the de-
partment reported business or an up
ward trend. He CT. I'd combination Of
factors which have caused what he
termed a slightly more optimistic out
look throughout Italy.
The apparently assured stability in
Ira exchange, the decreased adverse
trade balance, coupled with the prctec
ton given domestic products by the
newly imposed Is per cent ad valorem
tariff and the belief that the new pro-
gram for public works will meet ade-
quately the Winters unemployment
problem were named by Mitchell as the
principal factors.
Lira Exchange Steady.
He said in Italian trade circles there
are no serious fears Of the market being
flooded because in most lines the depre-
citation of the pound sterling and other
currencies has been offset by the new
duties. He also reported the exchange
on the Ira has been steady.
During September a favorable foreign
trade balance was returned, the excess
of exports over imports amounting to
3l,000,000 lira. Commenting on this,
Mitchell said this situation is considered
as unusual in view of the fact that there
have been but two other months in the
past decade which have shown favor
able balance-September and october,
1927.
He reported the budget deficit for the
first three months of this fiscal year
was 864 100000 Ira.
Lower production totals" according
to Mitchell's report, "were registered in
the manufacture of sheet, pig, steel, fer
rous alloys, zinc, mercury, cement and
marble. Car loadings were also lower
than those of last year.
Local automotive production STANDS
at 20 to 80 per cent capacity, with
further reductions in both personnel and
wages in prospect.
Unemployment at the end of Sep
TENDER stood at TAB 900, which is $4,000
greater than at the end of August and
nearly double the number unemployed at
the end of September last year. The
public works program contemplate5 the
expenditure of $500, 100000 Ira and
the employment of $4,000 men through
out the Winter months.
British shippers are now in control
of the local coal market because sterling
depreciation has neutralized the bur-
dens of the new 10 per cent duty and
it is expected that they will remain in
control unless mine prices are raised
considerably.
Lumber Sales.
RUSSIAN lumber is selling at prices
which are injuring imports from other
European countries. Cotton Spinners
are now buying more freely, but the
general position of the industry is un-
changed, with spinners and weavers
operating at IS and 20 per cent capac-
ity, respectively. There is no improve
ment in the raw silk lines and Amer
lea is practically the only buyer. The
rayon industry is improving.
1.-THE leather lines generally and tan
ners, particularly sole leather, are very
depressed. Chemical lines are quiet,
with increased purchases in heavy
chemicals and dyes from the textile,
rayon, paper, paint and varnish trades.
THE demand for fertilizers is show
ing an alarming decline, which Is being
fought by government propaganda and
industry. Agricultural results, particu-
1arly in the south, are exceeding eXpec-
tations. The wheat yield is ABOVE last
year
''The filbert crop is normal and quail
fly good, with considerable demand,
particularly American. The tomato
pack has just been completed and is
about 40 per cent of that Of last year.
1t is believed to be sufficient, however.
though American purchases are in
creasing."