AMERICAN TRADE

Waipa Post, Volume XXIV, Issue 1578, 25 November 1924, Page 7

AMERICAN TRADE

U.S. STEEL DEVELOPMENT. Imports of cotton cloth in the United States during August showed a decrease of 1,500,000 square yards as compared with July, according to Reuter’s Trade Review. A drop of more than 1,000,000 square yards in the imports of unbleached poplins and broadcloths during August accounted for most of the decrease in the movement during the month. Bleached poplins and broadcloths, however, showed an increase of about 200,000 square yards and increases were also recorded for sateens and ginghams. The most important development in the United States steel market has been the announcement that the unfilled orders of the United States Steel Corporation on August 31st totalled 3,289,577 tons, an increase of 102,505 tons compared with the end of the previous month and the first increase reported by the steel corporation since February. The output of steel ingots during August showed an unexpectedly large increase; the calculated production of all companies was 2,541,501 gross tons against 1,869,41,6 tons in July. Manufacture of mining equipment report that while businesses still slow the outlook for the next few months is more encouraging. Recent despatches from Mexico state that the larger mining companies in tihe Pachuca district are carrying out extensive plans of development, which will involve the purchase of additional equipment. The extension of rural credit banks in Brazil has made remarkable progress as a result of the special commission appointed by the Brazilian Minister of Agriculture to promote the establishment of such institutions. The Brazilian Government has authorised the disbursement of 1,400,000 milreis to be expended immediately upon port improvements at Ceara (800,000 milreis); Natal (400,000) and Parahyba (200,000). Contracts for the whole of the construction materials and for part of the engineering work will be allotted to foreign tenderers.