Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-04
FOREIGN BUSINESS
CONTINUES QUIET.
July Activities Quiet in Prin-
CipaI CenterS Abroad-Un-
employment Grows.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, August 4-Cable dis
patches to the Business Week give the
following survey of business abroad 1or
the week ending August 2:
Europe-July has brought no recovery
to business in Europe Rather business
has lost ground virtually everywhere
according to month end reports. Hopes
were beginning to be expressed that de-
preston had reached the bottom, put
continued Summer weakness IN COIL
modify prices has disappointed the pe
lief that the worst is past. Reports OF
incipient improvement in the Unlteo
States are eagerly noted, since the opln-
ion is widely held that the united states
must lead in any recovery.
Local problems absorb the 1ntrospec-
tive attention of individual countries.
England IS approaching the time 10 oe-
cline either to continue or 10 apanoon
the traditional policy OF free trace
Germany is wrestling with fiscal prop
lens and price wage ratios. france now
Is beginning to experience disturbances
in the price structure. First crop re-
ports from nearly all countries molcaVe
no more than average totals. In France
and italy crops are not expected 10 De
even average.
Eastern European countries are con-
/ tinuing negotiations towards the IorLlla-
ton of an agricultural entente.
Representative nitrogen producers,
after holding prolonged sessions IN Paris
are reported to have reached an agree
ment on production quotas which Is not
unlike the arrangement in the steer
! cartel. German, British, Belgian, 1tal-
| ian, Polish and Czech manufacturers
were represented.
Earliest reports received indicate that
Germany and Great Britain, as the
largest exporting countries, would re-
duce their output, while France is LETT
free to develop French production OF
nitrogen to the full limit OF internal
consumption. .
A Significant development of the con-
| ference is the creation of a joint fund
| which will be established among the
| participants. Payments Will be tur-
nished on a percentage assessment on
production. 1t is intended that this
| fund will compensate and equallze the
inability of any producing nation fully
to meet production quotas. It it is
possible to inaugurate the scheme 1T is
expected that some agreement will be
reached with the Chilean natural
nitrate industry. Delegates from Chile
are already in Europe.
Business conditions are universally
! featureless
Great Britain-General business is
| fiat. with no demand and no confidence.
Unemployment is increasing in the
major industries. Commodity prices
are falling. The slight improvement in
cotton continues. Engineering in gen.
eral is down, but locomotive builders
are holding their ground. The Horden
Galleries, employing 1000 men, have
closed. June exports to the United
States were 20 per cent below June
| last year.
Home railroads show decreased traffic
for the first half year. All were able
to maintain interim dividends, but the
London, Midland 81 scottish is paying
a low record dividend of l per cent,
compared with per cent last year. A
wage-cut war with the unions Is an
ticipated.
The city is attaching considerable
| significance to the offer by the Royal
| Bank of Scotland to buy the Williams
| Deacohs Bank of Lancashire. Readiness
of the cautious Scots to back Lanca-
shire's future was unexpected but not
unwelcome. A government mission
which includes representation from
| the cotton manufacturers financed by
Lancashire interests, will leave in mid
September for survey OF business in
the Far East. The rayon industry Is
disturbed over the price cut by Amer
lean Viscose and the proposed increases
in the Spanish tariff British produc-
ton at the end of June was 24.2 million
| pounds in comparison with &c millions
in 1929 and 27.1 in 1928. At least sc
per cent of this decrease is due to the
decline in exports of yarns and fabrics
France-Economic conditions-espe-
| cially the price Structure-are becoming
more unsettled and disjointed. Though
general wholesale prices are following