COMPETITIVE CONDITIONS IN INTERNATIONAL TRADE. 49
In Brazil are five branches of the Brasilianische Bank fiir Deutschland,
 founded in 1887 by the Disconto-Gesellschaft and the Norddeutsche
 Bank, with main office at Hamburg.
In Chile are seven branches of the Bank fiir Chile und Deutschland,
 or Banco de Chile y Alemania, which was founded in 1895,
with main office at Hamburg, by the Disconto-Gesellschaft and the
Norddeutsche Bank in connection with several business houses.
In 1886 the Deutsche Bank organized the Deutsche Ueberseebank,
and this was superseded in 1893 by the Deutsche Ueberseeische Bank.
The last-named now has 28 branches—2 in Spain, 9 in Chile, 6 in
Argentina, 4 each in Peru and Brazil, 2 in Bolivia, and 1 in Uruguay.
In Spanish-speaking countries it operates as Banco Alemén Transatlantico;
 in Brazil as Banco Allemao Transatlantico.
At Medellin, in Colombia, is transacted most of the business of
the Deutsche Antioquia Bank, or Banco Aleman Antioquefio, which
was established in 1912, with head office at Bremen, but specifically
to do business in Colombia.. Local merchants of Medellin contributed
 about 25 per cent of the capital, and German merchants,
principally of Bremen, about 75 per cent.?

FRANCE.

In comparison with England and Germany, France has a much
less extensive financial organization for foreign business, and to a
greater degree makes use of the banking organization of other
nations. Even the European connections of France are largely
effected through foreign banks. Thus numerous British banks have
branches in France, and most other European countries have at least
one bank of their own with branches in France. Italy is thus conpected
 with France by the Banco di Roma; Austria by the Allgemeine
 Oesterreichische Boden Credit Anstalt and the OQesterreichische
 Liinderbank; Hungary by the Ungarische Bank und
Handels-Aktiengesellschaft; Russia by the Banque Internationale
de Commerce a Petrograd, the Banque Russo-Asiatique, the Russian
 Bank for Foreign Trade, and the Russian Commercial and
Industrial Bank; Turkey by the Imperial Ottoman Bank. The
Banque de Paris et de Sudde, at Paris, was established in 1913 by
Swedish capital, to foster commercial relations between France and
Sweden. The United States is represented at Paris by branches of
the Farmers’ Loan &amp; Trust Co. and the Equitable Trust Co. of New
York, as well as by the American Express Co. and by several international
 houses, such as Morgan, Harjes &amp; Co., closely connected with
J. P. Morgan &amp; Co., of New York, and Morgan, Grenfell &amp; Co., of

1 william H. Lough, Banking Opportunities in South America, Bureau of Foreign and
Domestic Commerce, Special Agents Series, No. 106, 1915, p. 62,
27241° —16———08