Business: End of Cosach

President Alessandri of Chile last week decreed the liquidation of Cosach, the Chilean nitrate monopoly. Organized to enable the big producers of natural nitrates to pool their interests in the battle against synthetic nitrates and to give the Government a strong voice in exploitation of Chilean reserves, Cosach has been crippled by Depression. Two representatives of the Government and one of the Guggenheim Brothers will direct the liquidation.

Before the War the U. S. was entirely dependent on Chile for nitrates—basic ingredient of explosives and fertilizers. Last week France announced that U. S....

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