REPLIES TO CARD AND SCHEDULE INQUIRIES. 371
A prominent hardwood lumber manufacturer of Memphis, exporting
 about 20 per cent of his product, wrote:
It is quite possible that the larger manufacturers and producers in America
could compete successfully with foreign producers and manufacturers, but we
ilo not believe it is for the public interest that the business should be left in
such shape that this large field can only be occupied by the largest concerns
in this country, but we believe it is in the public interest that combinations
should be permitted so that the smaller, as well as the larger manufacturers
and producers, can share in the benefits of foreign trade. In short, we believe
this is the only means by which this trade can be secured.
A large manufacturer of photographic apparatus and supplies
wrote

In our opinion cooperative organization solely for export might be to the public
 interest, as through such organizations a number of small manufacturers
combining could secure representation and business in territories where they
are not now selling, bringing trade to our own manufacturers which had formerely
 gone to foreign manufacturers.
A small coal producer wrote:
Being what is known as one of the smaller producers of bituminous coal and
coke, I believe I am at a distinct disadvantage in attempting to do any export
business on our own account, but a cooperative selling agency, that had the
product of several mines with the capacity that we have, would be able. to
handle large contracts for export, which is not practical for the small concern,
Securing market and- credit information.—About 190 replies assigned
 the reason that combinations facilitate the study of foreign
trade conditions, the gathering of complete and detailed information
regarding foreign markets at less cost, the exchange of ideas among
members, and the securing of better credit information; and that they
are able to give longer credit, make for greater security of payment,
ste. About 75 replies out of the 190 have to do with the credit or
payment ided. A prominent New York lawyer wrote in part:
Through such selling agencies or organizations solely for export business it
would be possible to build up a bureau of information of technical conditions of
‘rade in different parts of the world such as could not be developed by any
Individual manufacturers, owing to the tremendous expense which would necessarily
 be involved; in other words, to learn minutely as to all countries and
districts with which business is undertaken, particularly as to methods of
delivery and credit which appeal to the possible purchaser in any such countries
or districts and which, at the same time, will give safety to the seller.
A well-known railroad financier wrote, in part:

I think combinations or cooperative organizations for export business among
American manufacturers and producers are desirable and in the public interest
 * * * because such associations can provide for their members better
and cheaper information relative to markets, credit and selling facilities. than
he individual can probably provide for himself.
The president of a motor-truck company, exporting nearly onethird
 of its product. wrote :

We believe cooperative institutions in foreign countries who could give us
credit information concerning buyers, act as our financial agents in collections,
and serve as distributing headauarters for advertising matter. would be of great
astistance to us.

Ability to meet foreign combinations.—Another group of about
180 replies includes those stating, in substance, that combinations are
m the public interest, because they better enable Americans to compete
 against foreign combinations of either buyers or producers which
are not subject to legal restrictions at home, in that they have oreater