Bisbee daily review., 1914-11-05
HUNGARY STAGGERS
 UNDER HARDSHIPS
 BROUGHT ON BY WAR
Industry And Commerce Are At a
 StandstilI; Big Interests Ap- ! peal To State For Aid Army 1, AbSOrbS Most All The Workers l

VENICE, Oct. 31-Austria Hung | ary's industry and commerce have been brought to a sudden standstill ] by the war Exports have ceased. 1 manufactories, with few exceptions, i have been shut down and merchants l and storekeepers are without custo- ! mers. The army has absorbed the great majority of the workers, and | of the remainder many thousands l have joined the ranks of the unem- ployed
 Agricultural interests are in al somewhat better position, with prices of corn and cattle steadily advancing l Although the majority of farm labor | CTS have been called to the war, the harvest for the most part had been gathered before they left But the land proprietors and peasant farmers are now confronted with the difficulty of finding labor for the autumn field work and sowing, which cannot all be done by the women and the few old men left at home.
 Finding the ordinary moratorium in- sufficient to protect ,he business and financial interests of the monarchy, the government has been forced to resort to other expedients to prevent total collapse of the industrial and mercantile fabric. War credit banks and loan institutions have been found ed to finance necessitous business en- | terprises, and a system of official supervision of insolvent firms has been inaugurated to prevent an over whelming number of bankruptcies.
 The first of the war credit banks is being opened in Vienna with a capital of S1,2OO.O00 dividend Into shares of S20O The purpose of this bank is to lend money to manufactur- CTS and merchants to enable them to meet current obligations in bills and acceptances and other commercial pa per falling due, and it's operations are limited to Vienna and Lower Aus tria
 For smaller manufacturers and the traders chain of local institutions is being organized under the admln- istIation of the AusIo-HunParian bank, and in general for ali payments not specifically required to be made in currency. Their chiei objec Is 10 iida usiness houses over the war by gaddus loans on merchandise lrd '.. tnd commercial paper
 ! To cases where a bushes shouseis temporarily insolventaspecialpro temporarily insolvent a special pro visional system of official supervision has been instituted to enable the bus ] mess tc be continued On the appli- cation of either the trader or his ] creditors the courts are empowered to appoint experts to act as guardians : or trustees. to supeuntend the carry ing on of the business in the general 'interst of th creditors so as to pre- vent unnecessary bankruptcies.
 The greatest commercial interests in the country have already been forcd to appeals to the state for aid. The sugar industry will take up near ly one-half of the issue of the loan
 hanks. They and india-and nbw they are at their wits end to know how to dispose of the enormous stocks suddenly accommodating on their hands
 The great textile industries in Mo lrayia and Bohemia are in not much better position. With the bulk of their operatives in the army they have, had to shut down many of their factories. and those which are still running are finding difficulty in pro- curing raw material Efforts are be- ing made to procure cotton direct from America through Italy.