The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-01
RUSSIAN TRADE
ACCORD AWAITED
BY EXPORTERS
Domestic Manufacturers
See 600 MiIIion-DoIIar
Business Available.
BY HOWARD CARSWELL
Times Special Writer

NEW YORK, Dec. 1.-American
export trade continued today to ex-
pectantly await developments in the
negotiations toward settlement of
the veXatious Soviet debts. Export
ers generally incline to optimism on
this point and feel that. granted
favorable lCng-term credit arrange
ments on CT pital goods purchases,
the SovietS may be expected to
spend more than $600,000,000 in this
country during the next two or three
years.
The American Manufacturers Ex-
port Association now has an observ-
er in Russia, who advises that pros
pective Soviet purchases of Amer
lean goods are by no means exag-
gerated.
More Gold Ore Shipped
A second cargo of $500 tons Of
gold ore consigned to a Tacoma,
WASH, smelter. was announced this
week by the Amtorg Trading Corpo-
ration. A third shipment will be
dispatched from Leningrad soon.
The first two shipments to the
United States total $4,000 tons and
are valued at $1,7OOOOO.
American reTiners are negotiating
f0,. ct1koctoyofioI r,t,o,,f;fioc IF oaooa,1
trateS produced il Soviet nonferrous
and gold refining plants, such as
precipitateS, electrolytic shines,
chlorides, etc. The Soviet Union has
found these more profitable to ex-
port than to refine domeStically.
This comparatively new develop
ment in Soviet export trade previ-
ouSly had been conducted mainly
with Germany and England.
Ivan V. Boyev, who is to be the
new chairman of the board of AM
tory Trading Corporation, is due to
arrive here soon from Russia. Arn-
tory is the Soviet trade agency
here. Mr.. Boyev has been assistant
peoples commiSSar for foreign trade
in the Soviet government. He will
succeed Peter A. Bogdanov, who has
headed Amtorg since 1880 and who
is returning to Russia.
Textile Men Coming Here
Moscow advices that another buy
ing mission of important Soviet tex
tile officials had left for a tour Of
the United States England and Ger
many were construed today as an
other good sign. So far this year
more than fifty Soviet missions have
visited the United States for tech
nical study and possible purchases
of machinery and equipment. Some
400 technicianS anc industrialists
have comprised these missions.
The only statement from official
sources on prospective Soviet pur-
chases was that made by Maxim
Litvinoff, commissar of foreign
affairs, about seventeen months ago.
He declared that Russia was ready.
granted favorable credit arrange
ments, to buy $1,000, 100000 worth
of capital products abroad. Out Of
this roughly so or 10 per cent would
be spent in the United States.
Big Field Available.
Russia could use 5000 100000 of
ferrous metals; $100,000,00 of raw
materials for her textile, leather
for machinery, including 100000
O00 railroad equipment; $35,000,0 900
for agricultural goods; $4,000, 900
for consumers goods such as tea,
coffee, herring etc., and $4,000, 900
for new ships for ner fishing, seal
and and mercantile industries.
Amtorg Trading Corporation pur-
chases here are currently running
about 100000 a month. Four
years ago they ran $10,0OO,00O
monthly. Recently inquiry was made
for steel rolling machinery which
would cost several million dollars.
While the Soviet steel industry is
rapidly expanding, the demand ex-
ceeds the supply and the rolling
and fabricating capacity is tagging
behind the blast furnace capacity.
The Soviets direly need all kinds
of speciality steels as we'll as stand
ard iron and steel products. Russia
also needs non-ferrous metals such
as aluminium, copper, lead, zinc,
vqnadiIIT1 and S0 IN