Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-02
Seasonal Activity Is Declared
Greater Than First Re-
ports Indicated.
INDUSTRIAL ADVANCES
ARE SCORED IN OCTOBER
Commodities Prices Display Ten
dency to Firmness After
Long Decline.
Special Dispatch to The Star.

dispatches to the Business Week give
the following survey of business abroad
for the week ending November /:
Europe.-BuSiness reports continue tc
be more cheerful. Scrutinizing them
carefully, economists are convinced that
seasonal activity has been greater than
peSs1mistical minded business mer
and observers have been disposed tt
admit, or that the pickup in the last
few weeks is belated Fall revival. Most
notable among the optimistic indicators
Is the British Board of Trades retail
index, which shows that September sales
not only surpassed those of August, but
also exceeded sales volume in Septem.
Der, 1929. Industrial quarterly reports
and foreign trade returns, If translated
into today's lower price levels, are not
materially below those of last year and
they show an upturn over August. Re-
placement orders. particularly for en-
cheering and textile products, are
from Far Eastern and South African
markets have frightened.
Prices on basic commodities have
either advanced further or have held
last weeks recoveries. Political tensions
are largely relaxed Sentiment, however
remains hesitant, realizing that Winter
will prove a strain. Another possible
relapse in Wall Street is q source Of
worry to business in almost every fnan-
cial capital.
Labor Strike Suspended.
In Germany suspension of the strike
OF the metal trades workers in the
Berlin area has removed the most i'm
mediate cause of concern. In Great
Britain the Imperial Conference ha:
reached the inevitable deadlock of any
effort to weld into an economic whole
through reciprocal trade advantages Q
political empire possessing TO inherent
economic unity.
Both Germany and France, as a re-
suit OF developments this week, are
expected to proceed with long-consid.
cred plans for major conversion OF
a huge mass of war loans. These con-
version operations are expected not
only TO improve fiscal conditions ir
both countries, but to reduce genera
levels OF capital costs and to enlarge
capital facilities and stimulate new
financing.
Soviet developments have cropped ur
In three regions. Unable to collect fol
export as much grain as they antici.
pated, the Soviets are reported to be
canceling part of the bottoms char.
tered for these deliveries. Belgium Is
upset over the drastic reprisal which
the Soviets have ordered since Brus.
sells enacted anti-dumping regulations
against the Russians. A two-millior
order for nickel from a Belgium firm
is reported Cancelled and % ships car.
rytng Soviet goods have been ordered
to shift their terminus from Antwerp
to its rival, Rotterdam, Holland Con-
f1rmation comes from Rotterdam, where
the Soviets this week leased another
elevator fVA cfA ole IL
rumored that Moscow is considering
moving its naphtha tanks from Client
| and its wool washeries from Antwerp.
French Conditions Static.
France.-Despite a further relaxa.
ton of political tensions and fewer ex-
presSions of pesSimisfn, there was nc
significant change in actual business OF
general conditions this week. Tariff
negotiations with Spain, since Spain
is firmly refusing any tariff conces-
sions unless France relaxes restrictions
on wines, which France refuses point
blank to do, are at standstill.
Domestic business resentment is slow
ly gathering over the recent policies
of the government to favor farm in
terests unduly, to the exclusion of any
aid to commerce or industry. The
French department of commerce L
States tariff on French exports as af.
fording a basis for Representations
likely to be made to the Tariff Com
mission and as q basis for reprisals
If this seems wise.
Germany.-Berlins rather desperate
strike situation came to an end thi
week when the 100000 metal trade
workers who walked out last weel
agreed to return to work on the ole
basis of wages and hours while a spe.
cially constituted Arbitration Commit
tee attempts to draw up some agree.
ment which will be satisfactory to botl
labor and capital. Because both side.
have shown a willingness to bargain
Germany Is hopeful of the outcome, ex.
pected in an award from the arbitrator:
early in November.
In the meantime foreign exchanges
have returned to normal levels anC
money markets are quieter. The cyclica
rise OF unemployment, however is &C.
centuated by seasonal factors and con-
tinues to be a nightmare to business
and government alike. A number of the
cartels have already virtually given ul
any attempt to control prices. Others
notably the cement cartel, are threat
ened with actual disruption.
Alcohol Monopoly Threatened.
The alcohol monopoly is in financia,
difficulties, owing to the tendency oil
the German people voluntarily to "gc
dry" at an alarming rate.
Great Britannia better tone pre-
walls in Britain, both In business groups
and on the stock markets. There are
few actual evidences of increases In
trade, but strengthening inquiries are
interpreted as an optimistic sign of in
creasing volume in the near future
Slight stock market improvement in re-
cent weeks has spread from gilt-edgec
securities to industrials. Decreased out.
put of coal still exceeds demand, but
Cardiff and Sheffield report improved
outlook.
Political uncertainty continues tc
overshadow business. Philip Snowden';
fiat refusal to consider any change In
the fiscal system is driving all shades
of the tariff party to closer co-opera-
ton. Even conservative opinion ir
London anticipates success for tariff
advocates In the coming election, though
the policy Is likely to be advocated only
as a means of reducing unemployment
from more than 1000, 900 to something
less than 500 900, after which time the
tariff might be withdrawn and Other
means relied upon to absorb the bal
ance of the unG8ployed.
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