SPECIAL REPORTS FOR FEDERAL TRADE COMMISSION, 129
members of the union, and its expenses are paid, pro rata, by the
members,
Buying combinations.—In Finland there are two large buying combinations,
 the Finland Metal Industry Office, described above as a
selling organization, and the Finnish Paper Industry Office, Helsingfors,
 consisting of 85 wood pulp, paper and cellulose factories,
for the purpose of greater economy and efficiency in buying all sorts
of a This office works in cooperation with the Finland Metal
Industry Office, and a number of the members of the management
are, unofficially, common to both. It is only of recent foundation,
and so far no statistics are available as to its capital. Both the
above buying organizations, far from being a hindrance to American
 trade in Finland, can be of the greatest assistance and are, in
fact, anxious to buy in America.

PORTUGAL.
Bpselsl Leport of Consul General W. L. Lowrie, Lisbon, Portugal, November
, 1 Y

Portugal is an agricultural rather than an industrial country, and
the comparatively few manufacturing establishments which do exist
do not unite in cartels, syndicates, or combinations for the promotion
of trade. Each individual or corporation operating a factory acts
separately. Modern methods have not yet made any great impress
upon either manufacturing or agriculture.
Only two concerns which may be called international syndicates
are engaged in business in this market: The Vacuum Oil Co., of
New x) and International Mercantile Co. The latter is engaged
 in promoting the importation and exportation of foodstuffs
and colonial goods in a small way.
The Vacuum Oil Co. has a monopoly practically on the sale of
petroleum and gasoline throughout the country. It supplies western
 Africa and Gibraltar from the storage plant at Lisbon. The
company operates two small tank steamers under the Portuguese
flag. It does not have any special concession from the Government.
There are no combinations of buyers of different lines of American
 goods. The importers act as individual purchasers and are
not associated. The usual requirement of opening credit in the
United States prior to the shipment of merchandise makes the extension
 of this vos ll most difficult, as the credit in most instances
must be effected through London.
Almost none of the industries of Portugal depends on foreign
capital, and the investments are not such as would affect the import
trade. One large English firm, Graham &amp; Co., own paper and cloth
factories and are, of course, large buyers of raw materials. This is
a private corporation and operates independent of any other.
One of the presidents of the Lisbon a Association, who
is active in promoting trade with America, states that he believes
“foreign capital will find here a vast field for investment in manufacturing,
 agricultural, and commercial enterprises, not only in a
direct, simple way, but also in the form of cartels, syndicates, or
trusts. :
The Portuguese Government has shown some activity in an endeavor
 to increase its oversea trade. It has created in the foreign
27941°— pr 2—16—89