Amtorg Trading Corporation

Amtorg Trading Corporation

 

a commercial organization operating as an intermediary for the export of Soviet goods to the USA and the import of goods from the USA to the USSR. It was established in May 1924 in New York as a private joint-stock company of the USA and the USSR. It was formed by means of the merger of Arcos America Inc. and Products Exchange Corporation, two companies which existed earlier in the USA and which engaged in export-import operations. The share capital of Amtorg was initially $1 million; subsequently, it was increased to $3 million. The main shareholders were the Bank for Foreign Trade of the USSR and the Central Cooperative Alliance. Amtorg fulfills the commissions of Soviet foreign trade organizations in the USA.

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May 11 -- Xport Trading Company of the Port Authority of NY & NJ, City University of New York, Amtorg Trading Corporation, and the U.