Evening star., 1932-01-31
MERCHANTS WATCH
SITUATION IN EAST
War Scare Closely Affects
Various Elements in
Business Center.
BY JOHN A. CRONE.
Special Dispatch to The Star.

special DlSpatcn 10 Inc star.
NEW YORK, January s0.--The
echoev u war in the Orient t~souutad
in New FORKS business AND financial
districts today.
Up Nsug Fourth avenue, the silk
goods district, makers of silk Stockings
talked about the possible limitation Of
imports as just another one of the
troubles now beSetting the trade. Down
in Chinatown, sellers Of tea indicated
that favorite brands of that beverage
from the land OF the dragon might go
higher. Along Whitehall and William
streets shipping quarters watched with
interest cargo freight and insurance
rates.
Silk imports during 1881 were about
100000 pounds more than in 1880,
and, as any maker Of silk stockings
was willing to explain. part of this was
the direct outgrowth of the Nah
churian conflict, which caused China
to declare an economic boycott against
Japan and forced the latter to seek
other trade outlets and means of meet
ing international payments.
Silk Shipments Heavy.
In order TO establish balances here,
Japan shipped silk as fast as possible
In fact, it mixed two seasons crops of
silk, which was unprecedented. Since
no two cocoons spin exactly alike, and
since two crops were mixed, the silk
stocking manufacturer here had plenty
Of worries aside from a mere business
depression.
Mixing Of two crops produced irreg-
ularitieS which showed up in silk stock
ings in the shape of rings. These rings
never appeared until the stockings were
dyed, and since the ladies insist on
colored hose, the maker, thereof, had
a tough problem. Apparently it is
being solved by the use of greater silk
content. Then. to aggravate the hose
manufacturer, the ladies showed pref
erence for sheer stockings. which make
the avoidance of rings difficult. To-day
between 81 and 80 per cent silk goes
into stockings instead of 88 or 80 per
cent heretofore.
Down along Front street and over in
Chinatown, the trade bought some
what more freely of China green's and
congous, just to be prepared for
Spring requirements, should warfare
shut off such exports. China wood oil
flrmed in news from the Far East.
Prospects of additional cargoeS OF
raw materials for war purposes brought
some slight firming Of shipping rates
ing to advices from Whitehall street
around which cluster most of the
marine offices. Insurance agents foI
marine underwriters talked of higher
rates on ships clearing for the Orient
Somewhat farther down on William
street, where the National Metal Ex-
change is located, disappointment was
expressed today that demand for silver
futures remained rather quiet. Shang-
hal, however, is the leading speculative
market in silver, Bombay, London and
New York merely following moves initi-
ated in the Chinese city And silver
spectators around Shanghai probably
were more interested in dodging bombs
and bullets than in scalping profits to-
day. Money has tightened in China
advices to local banks with Far East
ern connections stated.
Manufacturers of printing machinery
evinced interest in the military devel-
opments, since China has been one OF
the industry'S best customers. Home
of the art of ink and printing, China
nevertheless turned to this country for
printing machinery. American print
ing presses and composing machines
dominate in the Shanghai publishing
business, though the use of native
products inland continues to increase
Most of the larger printing plants are
under foreign managements, which
claim they save money by the use of
machinery despite the cheapness of
labor in the larger Chinese cities.
Copyright, 1922