The sun., 1916-12-27
GERMANY SEES END
OF LABOR SHORTAGE
Rational Industrial Service
Plan Expected to Help the
business Boom.
INCREASE IN BANK NOTES
Embassy at Washington Be-
gins Bulletin Service for
Benefit Of Z. 8.
INCREASE IN BANK NOTES

The German Embassy at washington.
N order to enable American business
mon 10 keep In more or less intslligsnt
,ou,h with business conditions In Ger
man, and to nullIfy the mall Censorship
and the confscation OF newspapers. has
undertaken to publish commercial bulls.
tins At regular intervals. They will
contain facts and figures about German
Nusiness life cleaned from Government
and other reliable busine,s sourcss.
The fret bulletin, Just issued. con-
,.,ns n brief review OF general business
conditions. together with the earnings
a, ron and steel companies In Germany.
This 4. followed by the status OF the
German E%eichsbank and . summary Of
German hnance
In It's discussion OF German Business
ambitions the bulletin says In part:
General business conditions In Ger
n.ny are dominated by that great sx-
esnslon OF domestic trade. visible In all
telligerent countries. which may aptly
N called war BOOM Reports from all
sdes show that trade 10 brisk In Ger
many, as II Is In all countries. The
Mormon consumption OF all kinds Of
materials for military purposes kesps
ros, industrial plants At full blast. Thu
chief difficulty Of German industries IN
the shortage Of labor. which will be
r,medied by the forthcoming system OF
NATIONAL Industrial service"
The report points out that the October
PRODUCTION Of iron and steel compared
fayorably with the average monthly pro-
Auction prior to the war that prices are
hlsh and that most of the big iron and
steel plants have reached high water
marks In output.
big Iron and steel Earnings.
A table shows that the combined earn
ms OF sixteen iron and steel companies
FOR the year l9i5-1sis as $50, sac, 900,
compared with s44.2i0.000 for isi3-isiS.
Only two Of these concerns decrearsd the
amount distributed in annual dividends.
while two maintained their rates OF pay
mspt unchanged. The remaining COM
psnies increased their Disbursements
from . per cent. TO - per cent.
Pointing out that the bank I cir
~rula,ion in Germany has increased from
Sl;o.:l:,sie on July 80. 1914. TO O.ss2.'
Sll,UUU AZ OF tkGCS"pST " Nv ~ y
port explains that some OF the special
causes OF this note expansion are:
The great domestic trade expansion
brousht about by increased demand Tor
= goods and resulting high pricss. both due
10 war: the withdra wal Of gold from
circulation and the necessity to MI IT.
place by notes: the greatly incrsassd
area for which German notes have "a
serve. II has been estimated that n IA
two billion marks are needed for the &C.
cupied territories In Belgium. France
Poland. Cohriand and Servia."
In a brief discussion OF German
finance, the report says:
Up to October 81. 1915. the I'm
per!al Parliament had voted $780,
100000 t5?, 600, 0o0. 900 marks>. On that
DAY a new credit Of Sa.ss0.ooo. 900 wa
granted by the Reichstag. For . long
time the monthly expenditure for val
purposes was about $500 900, 900. The
entrance Of Rumania into the war raised
that monthly expenditure during the last
four months to about sS24.sso.ooo The
new credit will be SUFFICIENT for sp.
proximately ave months. In September
the Nth loan was offered to the people
s:.S36. 900, 900 being subscribed.
q the Si2.3s0.0 zoo. 900 $4,000. 000..
eto marks) voted up to October ~. So.
rlAOOo,ooo c5,Ooo. 900. 900 msrks) have
been provided by long term loans. Thu
rest is financed by Treasury bills which
are taken up like commercial paper
especially by banks and big industrial
concerns.
Though the last instaimert on the
Ahh war loan does not fall due until
February 8, 1917, SIS per cent. Of the
total amount subscribed had been paid
W by November II OF the current year
The number OF subscribers was some
What less than for the two previous
loans, yet the hfth loan too can be called
q 'people's loan"