288 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE.

heir export trade would be increased if they could join with all, or a
large part, of the other independent producers in a company organzed
 along lines similar to those of the United States Steel Products
Co., and empowered to fix prices. Another concern which favors a
voluntary export combination or association in its line advocated that
activities should be confined strictly to joint Selling.
Among the advantages which were hoped from such increased cooperation
 is a broader market, which would stabilize prices, keep the
furnaces and mills in more continuous operation, and by running the
plants at capacity lessen overhead expenses. Lower selling costs
sould also be expected through the greater economies resulting from
a» common selling organization.
By such an organization and the economies and activities possible
thereunder, the smaller producers in the United States believe they
sould materially extend their export trade, and could obtain a larger
share in the foreign trade in iron and steel products.

MACHINERY AND RAILROAD ROLLING STOCK.

In addition to the products which may roughly be classed as blast
furnace and rolling-mill products, iron and steel enters into a large
number of highly developed finished articles, such as machinery
of all kinds, railroad rolling stock equipment, etc. International commerce
 in such lines, in point of value, far exceeds that of the semifinished
 products, and of rolling-mill products ready for consumption.

European manufacturers of many kinds of machinery and railroad
 rolling stock equipment have established various forms of combinations
 for the control of their domestic and foreign markets.
They comprise such articles as machine tools, weighing machines,
shoe, brewery, textile, and printing machinery, motor vehicles, typewriters,
 sewing machines, locomotives, cars, and rolling equipment
parts.

GERMANY.

Machine tools.—There were about 250 works manufacturing mashine
 tools in Germany before the war, representing a capital inrestment
 of nearly $210,000,000.*
The total exports of machine tools in 1913 were 77,000 tons, a
slight increase over the corresponding figures for 1912.2 The
makers are organized in the Association of German Machine Tool
Manufacturers (Verein Deutscher Werkzeugmaschinenfabriken, Diisseldorf),
 which was formed in 1898 and has about 100 members.
This is a highly important organization. It has actively opposed
"iron and Coal Trades Review (London), Aug. 13, 1915, p. 190,
q . Statist abstract for the principal and other foreign countries (London), 1914,