Some of our export houses are beginning to find that the official advocacy by the Board of Trade of direct dealings by British manu-foe with overseas consumers is telling upon the merchant trade, will assuredly result in business being lost to this country, says the "Metal Bulletin" (London). We s a batch of correspondence before us now bearing upon this matter. A London export merchant firm with an overseas inquiry for certain steel material sent it forward in the ordinary way of busi-reco +a the selling agents of the manufacturers who, in reply, informed the merchants that they were "not permitted" to quote intermediaries. The merchant firm in reply pointed out that they were direct. shippers, and purchased for large foreign importing houses domiciled abroad. This brought another letter from the selling agents, stating that their principals only permitted them to quote to. "actual consumers," but adding that if the merchant firm cared to hand over the names of the overseas importers for whom they acted, they would see what could be done. Here for all practical purposes the matter ended. except that the order will follow a good many others to America.
'A everyone knows, the importing houses abroad distribute material all over their respective countries at delivered prices in local currency, and frequently on extended credit. It is inconceivable #h-t any manufacturer here can hope successfully to do this sort of business. The only practical method is for an overseas importing house to buy on ¢.i.f, terms from an export merchant house here which purchases direct from the makers, pays cash for the goods, also the freight and insurance, and which attends to all finance. This is the only economically sound way of doing the busi-
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