Evening star., 1930-06-15
France, Sweden and Jugo-
SIavia Are Exceptions to
the General Trend.
GERMANS TRY TO SOLVE
RECENT LABOR TROUBLE
Britain Enjoys Revival of Business
With Soviet Russia Under
New Agreement.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 14.-Cable dis
patches to the Business Week give the
following survey of business abroad for
the week ending June IA:
Europe-Only three countries still
show a net relative improvement over
a year ago-France, Sweden and Jugo-
slavia. Three others are more or less
holding their -Czechoslovakia,
Switzerland and Denmark. The re-
mainder reflect various degrees of acute
depression, particularly marked in Ger
many. 1t should be noted, however,
that business thought is less worried
now over further accentuation Of the
depression than over its duration.
Rapidly souring markets, necessitat-
ing immediate action, forced a final
midnight agreement on the Young bond
offering between representatives of the
German government, the international
bank and the treasures Of the respec-
tive creditor powers and underwriting
bankers in Paris Thursday. Business Is
relieved now at the prospect of prompt
completion of an operation which has
disjointed money markets and held up
other capital issues for the last fve
weeks
Authoritative French sources posi-
lively assert that the reported British
Belgian steel export sales agreement
does not mean Britain's side-door entry
into the international steel cartel.
Labor Truce Planned.
Germany-Business interest Is CEN
tered in the conference among indus
trial and labor leaders. If a truce Is
conSummated between capital and la
Dor, it will facilitate price readjuSt-
mentS, restore the confidence of busi-
ness leaders and strengthen the posi-
tion of German industry in foreign
markets. This cooperative move is
seconded by government plants now un-
der way, including a scheme for the
construction of 10000 apartments, most
ly small houses, and providing work for
10000 men. Further plans call for the
speeding up Of the award of building
contracts for federal railroads and post
Offices.
While the business community pins
its last hopes on the issue involved at
the industrial peace conference, current
indicators deepen the general feeling Of
pessimism. Coal production has de-
clined 20 per cent since January, with
stocks at the pithead doubling Steel
reports current orders 40 per cent, cur
rent production 10 per cent of last
years figures. Textiles make the largest
contribution to the general gloomy out
look, cotton barely maintaining pro-
duction on hand-to-mouth orders Car
loadingS is the only indicator showing
slight improvement during the last
week in April, though it is still IL per
cent below loading for this time last
year.
British Russian Trade.
Great Britain.-Lack of confidence
continues to dominate the business sit
uation. Commodity markets are dull
on falling prices, industry is becoming
more stagnant, stock markets are idle
Three of the key unions which have
been holding out in the wool dispute
have surrendered to the owners, de-
clared the strike ended and accepted
the Macmillan wage rates. More than
$4,000 members resumed work June 4
Other unions are expected to follow.
Lancashire Cotton Corporation in
creased its capital by a further two
millions and now controls 10000, 900
spindles.
British-Russian trade is active. So
Wet orders this week in London for fer
tilizers totaled S1,000,O00 and for cleo
trical equipment $5,00o,0O0. other big
contracts are pending. Technical as
Slstance contracts, now largely held by
united States and German engineers,
are anticipated by British experts. The
Soviets are opening a London engineer
Ing office, in which they plan to draw
up working plans for technical projects
IN collaboration with British industries.
manufacturers foresee materials orders
being turned to British producers un-
der the new arrangement.
Unemployment has increased nearly
1000, making the total figure in all
categories nearly 100000
Business Better in France.
France-Business conditions are still
generally satisfactory, despite curtail-
ment of production In the key indus
tries, but anxiety for the immediate fI-
ture Is increasing. April coal, iron and
steel production are all lower, with fur
ther contraction predicted. Depression
IN cotton and textiles continues Silk
producers are sharply curtailing, be-
cause of reduced American consump-
ton and the growing Japanese compe-
tition, but wool is active and automobile
sales are almost equal to those of last
year. -Four months trade reports show
that imports from the United States
are down $10,oOo,OOO and exports down
$7,000,000. There is also a decline in
British trade, but imports from Ger
many are up S32,000,000. Crop pros
poets are less favorable since May.
Sentiment against the American tar
III is increasing among trade and in
dustrial organizations, and both groups
are publicly demanding retaliation in
cooperation with other European coun-
tries.