Evening star., 1925-06-07
SHINES INTERESTS
RETURN TOC0AL
ResGGt6 From Difficulties
by Berlin Banks, Family
Is RetrenChing.
By the Associated Press.

BERLIN June with an ample
volume of six-month credits at its dis
posaI the SHINES family, in the opin-
ion of banking and Bourse circles, will
be >nabled calmly to carry out it's pro-
grssn of Capitalization and retrench-
mf1t. This viii include the liquida-
tiol of such undertakings as repre-
sent the So-called imitation investments
of the late Hugo SHINES.
For several days there has been n
furry about the SHINES interests and
several big Berlin banks came to the
rescue by an accommodation of some
40, 900 900 marks to meet the eXigenCy.
According to statement given out
by the family spokesman today, any
thing that is not actively connected
with coal, which is the radiating point
of the family fortunes, will be disposed
of. If a buyer is found for the over
seas enterprises and steamship lines,
they will he sold, but only on
straight business basis.
Muelheim Headquarters.
Muelheim, on the Ruhr, where the
late magnate's grandfather laid the
corner stone for the family fortune in
1882, will henCeforth be the headquar-
ters of the SHINES interests. Berlin
and Hamburg will be made way sta
tions, instead of being active operating
The new orientation adopted by the
SHINES interests is looked upon as
general signal for German industrial
activities in general and the SHINES
crisis, therefore, is interpreted as
symptomatic of the prevailing need of
retrenchment and curtailment in many
lines which were created during the
imitation DAYS
The SHINES program is designated
NnCSinhn Tnif of
'defiation" made necessary since the
advent of sterilization of German cur
rency and the more obvious require
ment of liquidation. This newspaper
believes ii is no disgrace if reputable
German undertakings lay their cards
on the table and openly set about to
bring their affairs into harmony with
the new economic standards.
A prominent banking leader. in re-
sponse to a direct inquiry, said that
all the major banks which came to the
voluntary aid of the SHINES family
were convinced that its assets were
unfmpaired and that it's properties
more than sufficed TO meet all its OBJ
legations. The Reichsbank neither di-
rectly nor indirectly participated in
the general advancement of the cred
sympathetic approval. Most of the
credits are on a siX-month basis.
Tided Over Crisis.
1t became known today that when
rumors were heard concerning the diff
fculties of the SHINES. Hjalmar
Schacht, president of the Reichsbank,
convoked a meeting of the major
banks. both as courtesy to the fam
lily and in the interest of the German
financial situation. 1t was then re-
Vealed that the crisis was precipitated
by the expiration of a long line of
short-time credits for various under
tak1ngs. The temporary credit strin-
Sency was promptly relieved through
the advance of longtime accommoda-
ton, which il was stated this morn
ing, will safely tide the family over
the crisis.
Although the banker believed the
SHINES fortune still was of ample pro
portions, he observed that it never
quite attained the dimensions pictured
by the outside world
SHINES was a popular fetish
abroad, but he was not the croesus
he was represented" he said
The family's new slogan will be
Back to coal" Coal brought early
fame and later fortune to Hugo Stin-
mes, and in this connection il is re-
called that the late magnate admitted
that of all his undertakings he liked
coal best, because Il know l under
stand it,"