In an official publication dealing: with Great Britain's foreign trade during the first quarter of the year the following remarks occur wich reference to the question of production additional factor tending' materially to improve the rate production lies in the increasing efficiency of plant. One of the Francisco. The most' interesting part to China of the report of the General Convention Committee is the concluding phrase which deals with the federal incorporation of American companies in. China. This states American companies in China. must operate under American laws, owing to extraterritorial treaties with China. The I present American laws do not give our Corporations the same opportuni corporations of other nations ith Greatest hindrances to improved! we must compete for trade in China, output during the past year was) Under the Hongkong ordinances our the war-time depreciation of plant! British competitors optate a China comand the difficulty of repairing or panies without income tax. American replacing worn-out machinery. This! Companies that have process of renovation or renewal of; the Hongkong. ordinances are by recent British "Orders plant. has proved long drawn-out, ito replace American directors and but the situation is now generally Lecutives by British, easier, and the cumulative effect of, Bills now pending in Congress, if en-such operations carried out out last acted, will permit such companies to ré- year and, more rapid]; during the turn to the protection of the American past quarter, is becoming marked-fag and will encourage the formation of ly visible in many directions. While new American enterprises in China for} conditions vary with each industry, Hfarther dovslopment of foreign trade. These Bills provide for Federal incor-there is no room for doubting that poration, and will enable American com-production on the whole is steadily panies to compete with corporations of if occasionally very slowly, increas-; other mitionalities on even terms with ing, although in few, if any, cases! respect to taxation, can it be said to have reached 1 ments, volume consistent with require-
The Home demand continues one,
Text read from the printed page and cleaned; old type leaves the occasional error.