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Show AMERICAN TRUST COMPANY FORMED Organization. Similar to Netherlands Overseas Trust, to Handle American Products Abroad. Washington, Oct. 23 Formation of an American Trust company, sfuiUar in organization to Tho Netherlands Overseas Trust, to handle Amorlcan products abroad with assurances that they will not reach tho belligerents, was announced today by Secretary Rcdfield of tho department of commerce. com-merce. The company will have the unofficial recognition of tho government. govern-ment. Secretary Rcdfield said that It was contemplated to have tho company handle all export shipments from tho United States to neutral countries. He said that whilo the government would not officially guarantee to belligerent countries in Europe that tho goods shipped under agreement with tho American company would not reach their enemies, the government would exercise such supervision as would insure in-sure their complete neutrality of the commerce carried on by tho now American company U. S. to Assure Safety. Secretary Rod field said that tho company Itself, under tho unofficial recognition of the government, would, mako such arrangemouts with the belligerent bel-ligerent European countries as would assuro the safety of American seutral-bound seutral-bound commerce from interference by belligerents. In considering unofficial recognition by the government for the new concern, con-cern, it was made a condition that tho new company must handle tho export business of all American firms which might make application, provided they could meet tho conditions laid down by the belligerent countries with which the concern might operate. Tho understanding was reached that agents of the treasury department in export cities in tho United States and commercial agents of the department of commerce abroad would co-operate to assure tho complete neutrality of all transactions' handled through the concern. |