Evening star., 1940-05-26
Danger Of Attacks
On London Raises
U. 5. Problems
Trade and FinunciuI
Circles Worried BY
Germun Advance
BY FRANK MacMILLEN,
Associated Press Business Writer.

German Advance
BY FRANK MacMILLEN,
Associated Press Business Writer.
NEW YORK, May 25.-London,
the crossroads Of the worlds busi-
ness. is IS miles Gmaybe closer by
the time you read this) from Ger
man-held territory.
The nearest reaches of the 20
mile long port Of London are less
than is minutes, bomber time, from
Frances Cap Girls Nez.
Let that sink in. Then you will
realize the host of questions crowd
ing to the fore among Wall Street
bankers, in the great planning head
quarters of Americas industries,
among foreign traders and crop ex-
perts. No one can know whether
the British Isles will be invaded, or
how disruptive air attacks might
prove on London and other great
commercial and financial centers OF
Great Britain.
Yet here are some reasons why
American business, from the banker
to the farmer, have been calculating
possible effects Of Furnishing attacks
on the island empire.
Vast Trade Involved.
More than 125, 5000, 900 tons Of
cargo, valued at upward of $6,0O0,-
100000 In a normal year, move in
and out Of British ports. Last year
the share of the United States in
this commerce was more than half a
billion dollars sold to Britain, or
about 16 per cent of all our ex-
ports making her our best customer,
and about $l5o,000,000, or 6h per
cent, Of all our imports.
This still is a tremendous piece
OF business, even though Great
Britain has been slipping for three
decades in its share of United States
total exports. In the period 1911-
1920 (Which included World War No.
- 20 per cent Of all our goods sold
abroad went to England; from
l92l-30 the percentage was 10.
Less Immediately susceptible of
dollars-and-cents measurement, but
still of great Importance in the dis
cussions in Wall Street and else
where. are such facts as these:
The tight little center of London
contains by far the largest stock
market in the world, in point of the
number Of individual securities
traded. While at times since the
last war Wall Street has appeared
to challenge the superiority OF the
City" as number one securities
market, most financial men still
consider London the granddaddy
Of them ALL"
World Prices Fixed.
The prices of some of the worlds
most important commodities and
foodstuffs are determined primarily
by the opinions of London's traders,
including tin, rubber, wool, jute,
cocoa, tea, copper. lead and spices.
Liverpool cotton and wheat mar
kets are the largest single factors
in setting the ultimate returns of
many farmers in Americas bread
basket belt and the deep South, as
well as in Manitoba, Brazil, the
Argentine and Australia.
Yet calculations here also are
taking into account that United
States exports of many farm prod
ucts, and especially cotton, have
been on the wane for q long period,
because prices here have frequently
been above world levels.
Ships literally by the thousands,
including such American vessels as
have not found trade routes dis
rupted by war. sail the seas insured
by the greatest marine underwrit-
ing industry in the world, centered
around historic Lloyds of London.
Based on Sterling.
OF the Importance of the pound
sterling in conducting business
around the globe, one commentator
said: Il might repeat what Met
ternich said Of the Austro- Hun
garian Empire: Had it not existed,
it would have been necessary to
invent it,"
For Americans, the British Isles,
with their $4,000 900 people, in 1899
represented customers for $65 900. =
600 of textile hbers, mostly cotton;
$4,000, 600 of gasoline, nearly as
much Of lubricating oil, $35 lot 900
Of raw tobacco, $14 4,s01 900 Of wheat,
$40, ,779, 900 Of lard, $7,245 900 of steel
ingots, $33 1854 900 of metal-working
machinery, $10,474,000 of aluminium
manufactures, $21 800 900 of wood
and paper and $8,538, 900 of auto
mobiles and parts.
Some of the major items which
the British Isles have sold directly
to us include whisky, woolen goods,
tin, flax and manufactured linen.
fine steel articles. platinum, rayon,
jute and hemp, palladium and
chemicals.
Analysts pointed out that nearly
Ill