The Washington herald., 1920-12-28

being made by Austria Hungary
and other European nations toward
can be CLEANED from
the following extracts from foreign
presses, compiled especially for the
financial and business circles Of
by The Washington
Herald. Data pertaining to the
leading financial institutions, chief
and leading business sub
jects is given:
Neue Freie Press-The note cir
culation of the Austro- Hungarian
bank reached 73 milliards on No
vember z. OF this amount 25.5
milliards is chargeable to the Aus
trian republic. The railway
strike. which assumed very large
proportions and during which
only trains for foodstuffs and coal
were running on the lines to VIII
ZACH, Kiagenfort. Jugo-Slavia,
Italy and Salzburg, has now been
settled.
Financier-owing to lack of
coal and raw materials the Buda-
pest Iron and Engineering Works
employ only about one-half their
pre-war staff OF 10000 workmen.
1Hc
able to supply internal require
ments, as IL is only by export of
a part OF its production that ii
can obtain necessary raw mate
rials. A number of foreign inves-
tors. particularly British, have re-
Gently acquired participation in
Hungarian iron and engineering
industry.
E.A.s,E-rn
states that the Minister OF Finance
of Czecho-Slovakia has announced
that Czechs in America have sig
nified their willingness to lend
their mother country 100000 at
6 per cent.
Neue Freie Presse-A Polish
loan has been fioated in America
and $4,000, 900 has been subscribed.
This amount will be used for pay
ing all previous loans and for pur-
chase of cereals and munitions.
Basler Nachrichten-The trade
agreement between Austria and
Bulgaria, which contains the
most favored nations" clause. Is
valid until August 81, 1921.
impending Meet Important Factor.
Neue Freie Presse-The object
of recent conversations between
economic representatives. of Aus
tria and Hungary is to lay down
a program for future negotiations,
which will probably take place in
Vienna. The compensation agree
ment between the two countries
expires at the end of this year and
a new agreement must be made.
The new agreement will probably
be similar to that between Austria
and Roumania, taking into con-
sideration peculiar conditions pre-
vailing in Hungary and the close
relationship between II and Aus
tria.
The fall in exchange has had a
stimulating effect on export.
Clothes and household effects have
been sold to England; fancy goods.
leather and bronze have been
bought by America. and quantities
of technical goods and machines
have been sent to Poland. The
only country which has not re-
sumed buying on a large scale is
Italy; the furniture trade, which
used to be very considerable, being
at a standstill.
The savings deposits of the
larger Vienna banks reached s.
223,000,00 kronen in October; an
increase of 55,oOo,0o0 over Sep
tember. This is due to the deposit
of large amounts, whereas smaller
deposits are being withdrawn, and
the number of depositors is
diminishing in nearly all banks.
1t is ascribed to the high cost of
living which forces small capital
lists to use their savings.
Berliner Tageblatt A Dutch
Austrian syndicate. consisting of
the Oesterreichische Creditan-
stalt. the banking firm of S. NJ.
Rothschild, the Nederlandsche
Handelamaatchappij and Hope
and Company has established the
"Amstelbank" in Amsterdam. The
new bank has a capital OF S.00O.-
600 guilders, OF which 10000
has been paid up. and IL will
concentrate on operating in for
eign exchange. The bank will
start business in January, 1921.