The Washington herald., 1922-01-16
LESS TENSION AIDS
GERMAN FINANCIAL
AND TRADECIRCLES
Important Changes In
Economic Situation
Lacking, Report.
INITIATION EXISTS
Mark, Fairly Steady Lately,
Embarrasses Importers of
Raw Materials.
INITIATION EXISTS

A certain lessening of tension is
noted In German financial and in
dustrial circles. although no i'm
portant change in the economic sit
uation of the country Is apparent.
says Commercial Attache Herring
at Berlin in a cable to the Depart
fment of Commerce. The feverish
activity c< industry, as we'll as the
unusual speculation on the stock
exchange, which characterized the
situation a few weeks ago, has
somewhat abated. Industry Is ex-
periencing difficulties on account of
the shortage of coal and raw ma
terials, and on account of general
increased production costs, while a
falling or in orders is becoming
noticeable.
Currency Imitation Continues,
The German mark has remained
fairly stable since December 10,
averaging $50 to the dollar. The
huctuation, however, has been suffi-
cient to embarrass the operations
of importers of raw materials. The
Reichsbank circulation, whi C b
amounted TO approximately 1Ol,-
100000 marks on November 3. has
increased to 10s.995. $50, 600 on De-
cember 22. The Government, Loan
Office notes show a check in their
long gradual decrease; they
amounted to 7.9s2,200.00O marks on
December %. which was over 60O,-
100000 more than the figure given
at the end of Noyember. The float
ing debt of the German govern
ment. discounted treasury bills, Is
given as 237.S70,o0O,0 900 marks for
December 20.
New capital issues in December
amounted to 2,453,500.000 marks.
while capital Increases came to
2.6S9, 100000 marks. This capital
was absorbed mainly by the metal
and machinery industries, food
stuffs. textiles and banks. The
Krupp Works Increased their cap
ital from 250.000,00O to 1000. 900
marks. The Alfred Nobel Dynamite
Company, of Berlin, has increased
its capital from 130,00O.0O0 to 211.-
100000 marks, and the Benz Auto
mobile Company from -6S.O00,0O0 to
100.000.O00 marks. Bankruptcies in
December, $50 in number, showed a
decrease from the 1876 reported for
November.
Panic buying is not so much In
evidence in German business cir
cles as during the last two months.
and industry shows quieter and
more even tendency than before.
The stock market also is less
disturbed as the speculative fever
seems to have been quieted by the
fall in December. The Frsnkfur-
stock index for January
1. 1922, showed 3O.071 against 80
$40 on December l, and 26.S55 on
December 22. The index of domes-
tic bonds is stationary.
Unemployment and Labor Trouble.
On December l there were about
$4,000 unemployed workmen re-
ceiving aid from the government.
although the actual unemployment
figure was considerably higher.
Unemployment has increased somes
what since that date. There Is
some part-time work in the German
industries and very little overtime.
The more serious labor disputes in
December included a lockout in
Berlin of 1900 men in the building
trades, on account of demands for
very large wage increase: IT,
matter has not yet been settled.
ANong the lesser strikes was that
of the toymakers in Thuringia.
Also in this region a strike OF
powerhouse employees left many in
dustries without power for some
DAYS.