In a paragraph in the July-August bulletin of the American Express Ca. dealing with the foreign trade of the United States the following occurs Reports from our offices abroad indicate that the large quantities of American merchandise refused by foreign buyers, now stored in Customs and private warehouses in foreign ports, are being liquidated toa greater extent than heretofore.
Many American shippers by this time have become convinced of the futility of further postponing definite action, and have realized the good sense of disposing of the disuressed goods as quickly as possible. While such goods remain on hand in foreign ports, future business is automatically shut off, charges accumulate, in many cases goods deteriorate in value. Then, too, there is the pressing question of merchandise being sold by local customs authorities for charges Several plans are being used to ports seem to indicate that the great proportion of Tiquidations already effected have been handied for account of American shippers either by banks or by some repute able American house having a branch in the city in which the merchandise was located. This has been due largely to the fact that original buyers can seldom be prevailed upon to accept deliveries, direct sales are practically impossible, and the expense of sending a special representative is, in most cases, disproportionate to the value remedy the existing situation. Re- involved.
Text read from the printed page and cleaned; old type leaves the occasional error.