From Financial Information Service May 21st.
A subtle but slickly planned campaign to spur more foreign investment in American industry is now being conducted throughout the free world and is being aided by many of the largest companies in the United States. Object of the drive, which was created by a conmittee of the more knowledgeable insiders in the U.S. financial community ,is to improve the U.S. balance of payments position. The major part of the program calls for the listing of U.S. securities abroad in order to facilitate their purchase by:‘overseas investors. The campaign calls for publication of company reports in several languages, when being distributed to shareholders. Already, 200 companies listed on the New York Stock Exchange have listed their shares abroad. Among them are Hastman Kodac, International Business Machines, General Motors and Standard Oil (New Jersey).