OCR Text |
Show I NATIONS MAiT " , Financial Weakness of Other, Countries Bars Placing of Orders Here ' WASHINGTON. Jim. 10 Better trade conditions between the United I states mid South Ann uid lh( far ! Bast cannot in- eXpectod until low H nates of exchange and labor condition I In foreign countries have been IrQ- II prOVfld, according to a sumniar.v of I i world business made public loilay by I the department of commerce. The statement was lh first of monthly h Summaries tho department will IMUO. H i In pruc'ieallv BVSrjj! bountrj of H South America and the i n BaSI im H I ports have fullcn In the lesi fow H months and money haa become very H hard to obtain, cablegrams to the !- H partment said. B Australia re pi iwall H ing lower prlcec before much H In the American markets, ORIENT IN Itl BHAP1 H The Japanese financial condition is H most 'unsatisfactory." Commercial H i J Attach: Janus K. Abbott, cabled from Toklo and he predicted a severe drop kv ' lr. tho Japanese exchange rule. Sir, H. Abbott reported banks have tight- tied H I tho money market by racing H Japan, he said, finished the year with a large balunco of trade against her B and there are large stocks of unsold H goods In warehouse.--. Tnc stagnation of business, li tint B brought about a situation which will B. result in the cutting of waves. H; Failure of many buainesS houses" H in China, Ik foreseen B Attache Julian Arnold. Peking, H who cabled that tin- ancient Chinese B uslom of paying all debts on the h year, February s, win many B places to close. II Low exchange rales lias lesulted In an overstocked piatket In India, according ac-cording to Commissioner - Bach-i Bach-i elder, at, CHleutta He adviaetl J Amorican business houses t" exercise care in granting wedlte. soi i ( AMl.ltlt AN REPORTS l Argentine exports and Imports have become very tight, Commercial Attache At-tache ; I'eeiv. at Buenos Aires, reported- December failure doubled thOUBS of the same month In 1H1!. and, many others were threatened, he. said. In Chll, both exports and Import! were reported to Se decreasing and the exchange rate Is unimproved, Creat care should be exercised In; granting credits, the department was( a h Ised. Venezuela w.is reported as still In I the midst of a financial decline. Commissioner vteiie cabled that the face of th unfavorable financial, situation, are establishing agencies in Venezuela. Commercial Attache Carlton Jack-! son reported that many huslneas fall-' ures Were expected in Mexico and that i to- money market Is unfavorable. He i , srted government finances were uii-BOUnd, uii-BOUnd, the cost of living was lnTOus- iil'. and lowering of wages had begun be-gun an,i Unemployment was general. |