Word: amtorg
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Embargo On. Fortnight ago Assistant Secretary of the Treasury Seymour Lowman, once in charge of Prohibition enforcement, now of Customs, precipitately slapped a tariff embargo on Russian pulpwood, imported chiefly by International Paper Co. through Amtorg Trading Corp. from Archangel (TIME, August 4). His authority: Section 307 of the Tariff Act of 1930 which prohibits importation of "all goods, wares, articles and merchandise mined, produced or manufactured wholly or in part in any foreign country by convict labor." His reason: secret evidence that Soviet political prisoners were logging the forests of North Russia. Pressed for details, he would only...
Taking his cue from the White House, Assistant Secretary Lowman reopened his pulpwood embargo which had already held up six vessels in U. S. ports, had blocked 68 others in transit. Big U.S. Business, the Soviet's good friend, hustled to Washington. Representatives of Amtorg, International Paper and the foreign shipping companies fairly swept Mr. Lowman off his feet with categorical denials that any of Russia's 1929 pulpwood had been produced by convict labor. Soviet officials in charge of the Russian Export Trust cabled that the pulpwood workers were free "to leave any time at their own will," that...
Boycott Threat. Comrade Bogdanov denied that Amtorg indulged in Communist propaganda or served as a money conduit between Moscow and Communism. Said...
...accusations against the Amtorg are absolutely without foundation. . . . The Amtorg has built up a substantial credit position. The accusations against the company have undoubtedly harmed its reputation with some firms. The further development and even the continuance of Soviet-American trade will be an almost impossible task unless the accusations against the company are . . . as we confidently expect them to be, found to be baseless...
Into this last statement might have been read a threat of Soviet bovcott against the U. S. unless the Fish Committee exonerated Amtorg. In Moscow, Soviet Commissar for Foreign Affairs Litvinov enunciated this threat explicitly. If the committee was not impressed, the business world that does a $100,000,000 per year business with Russia was. The New York Journal of Commerce took the committee to task for trampling about in a field of international trade where it had no business...