Word: amtorg
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...plausible Josefowitz biography said that the family was originally neither Lithuanian nor Swiss but Russian. They were said to have engaged in a wide-scale business of discounting Soviet bills. From 1924 to 1931 U. S. exports to Russia totaled about $600,000,000. These purchases were handled through Amtorg Trading Corp., the Soviet purchasing agency in Manhattan. Amtorg paid some cash, gave notes for the greater part of the Soviet obligations. Many a U. S. industrialist, suspicious of Soviet credit, was willing to sell his Soviet notes at a large discount. The Josefowitz', confident that Russia would...
Despite blast and counterblast between President Roosevelt and Soviet Foreign Minister Litvinoff, each of whom remains convinced that the other is a liar,† Russia's Amtorg Trading Corp. continues to buy in the U. S. much as if there had been no quarrel-making diplomatic recognition of Moscow by Washington (TIME, Nov. 27, 1933). Last week bustling Amtorg Board Chairman Ivan Boyeff signed in Pittsburgh a contract with Pittsburgh's United Engineering & Foundry Co. to buy more than $3,500,000 worth of electric-powered, roller-bearing equipment for the $700,000,000 Zaporozhstal (steel) Works, most...
...Hull might even interpret the Johnson Bill to stop the sale of Soviet bonds to U. S. citizens-a sale which is reported to have netted about $5,000,000 in the last few months. Furthermore if Mr. Hull chooses to treat the Soviet's export company, Amtorg, as part of the Russian Government, he can stop Amtorg's getting any commercial credits, all but bottle up Russian trade with...
...bales of U. S. cotton to the Soviet State and the cotton will begin to move within a month. The R. F. C. loan, expected to total between $3,000,000 and $4,000,000, will be made for one year at 5%. secured by notes of Amtorg (the Soviet State trading corporation in the U. S.) and further "unconditionally guaranteed by the Soviet State Bank." This tended to confirm Wall Street's impression that the R. F. C. will soon be financing all sorts of U. S. exports to Russia. While this cotton deal was pending Comrade Litvinov...
...dare they? In Manhattan one Basile W. Delgass, former vice president of Amtorg but now its foe and an informant to U. S. businessmen (TIME, Sept. 29, 1930) termed Amtorg's reference to easy European credits "a song of days that are past...