Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-27
FOREIGN INDUSTRY
|. IS STILL HES|TANT,
CABLES DISCLOSE
Bottom of Depression Seen.
Relaxation of Capital
Held Necessary.
GERMAN-U. S. MOVIE
PACT HEADS EVENTS
Series of Other Negotiations for
Cartelization Stands Out in
Reports.
Special Dispatch to The Star.

special Dispatch to the star.
NEW YORK, July 26.-Cable dis
patches to The Business Week give
the following survey of business abroad
for the week ending July 26:
Europe.-Without any Significant
actual improvement manifest any
where, belief that business is scraping
the bottom of the depression curve Is
finding notably wide. though cautious,
expression Levels reached by COM
modify prices and interest and dis
count rates certainly now fulfill aca-
demic premises to general revival.
Exhausted purchasing power, how
ever, awaits fulfllment of two further
conditions before it will be able to
respond to a favorable buyers market;
first, there must be greater relaxation
of investment capital, still obviously
hesitant to respond except to unusually
good offerings; second, a proflt-earning
crop must be harvested to offset last
years non-profitable bumper crop
Present crop indications, fortunately,
are favorable except IN France and
Italy. Here and there greater CONN.,
dence in a future revival is promising,
but it is unlikely that it can be trans
lated into an appreciable actual i'm
provement much before next year at
best.
Motion Picture Agreement.
The event of the week was the
initiating OF the German-American
motion picture agreement, Lawyers
are now drafting the actual contracts
whereby patent disputes, hitherto
blockading international exchange OF
both apparatus and pictures, VIII De
converted into an international part
nership tantamount to world leader
ship if sustained and based on fun
;nterchangeability within the mutually
accepted ALLEGATION of specific markets.
So far as American pictures and Inc
German market are concerned, une
benefits of the agreement remain Inn
tied by the failure of efforts to mitlgate
German import contingent RESTRICTIONS
intensified last week by new laws
passed by the Reichstag.
A series of cher cartelization, pro-
duction regulation, or price-flxing con-
ferences and negotiations feature cur
rent developments. They range through
stel products, railway rolling stock,
chain manufactures, nitrates, tin, zinc,
rubber, sugar, and from merely national
agreements to Continental and even TO
world integration of community inter
ests. One section of the steel prod
ucts cartel-bars, plates, sheets-has
world economic crisis. A second sec
ton -semi-manufactures, beams - Is
barely holding its own. The nitrate
conference continues in Paris with any
real possibility for world understand
ing between the major natural and
synthetic producers hampered by the
obstinacy of Holland, Belgium and
Poland to make any production con-
cessions, while France and Italy are
holding out for quotas which are
equivalent to present domestic con-
sumption. Because this exceeds pres
ent productive capacity, other repre-
sensations declare they would lose good
markets In the deal. The combine OF
European zinc interests is faced by
demands from the overseas producers,
now combined to demand an agree
ment for a uniform scaling down OF
both European production and over
seas shipments.
Agricultural Entente.
Delegates from Rumania, Jugoslavia,
Hungary. Poland and Czechoslovakla
are meeting in Rumania to discuss the
possibilities of forming a Danublan
agricultural entente, which eventually
NAV be extended to include all Eastern
Europe between the Baltic and Black
seas and aimed to procure adoption
by industrial Western Europe of prefer
entail duties on European versus over
seas agricultural products, notably
grains. Representatives imply that
Eastern Europe will offer in return
preferential duties on European manu-
features. Although there are many
difficulties to impede the realization OF
this agreement, it is the first tangible
action towards realizing the sentiment
of Europe for the Europeans" which
characterized the recent Geneva tariff
truce conference, and it may give spe-
cial application to Brands proposals
for European solidarity.