Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-14
REACTION IN FRANCE.
FOUND FAVORABLE.
b. S. Reports Small Trade
lJpturns Elsewhere From
Debt Negotiations.

By the Associated Press,
Debt moratorium negotiations were
reported today by the Commerce De-
partment to have produced favorable
reaction in France. but brought little
1,plift In business conditions in most
other countries.
The progress of the debt mora forum
negotiations" said the departments
weekly review. produced favorable
reaction in France tending to relieve
business tension. Commercial condi-
tions, however. did not improve in June
and labor difficulties continued.
Except for seasonal increases in
certain industries, Danish business
showed little change throughout the
last quarter although the threat OF
serious labor trouble has been elirni-
mated and the foreign trade balance is
more favorable than last year.
Depression Continues In Spain.
Business depression has continued
to prevail in Spain and there has been
a considerable degree of labor unrest.
Portuguese business as yet shows
no recovery from depression, but OPP
timism has been increased by satisfac-
tory crop reports. political tranquility
and the expectation OF beneficial results
from the currency Sterilization pro-
gram.
Optimism over favoable crop pros
poets wes reported from Mexico. a
more buoyant tone in Indian CONNER
cial circles vas attributed to morator-
ium developments and there was re-
vival of trade activity in the Nether-
land East Indies.
Little change was reported in Greece,
Canada, Argentina. Brazil. Chile, Haiti
Japan and the Philippines.
u. s. Has Two Billion at Stake.
American Business with S2,00o,o00 900
or more at stake kept close watch on
the German financial situation.
Between $1,35o.o00,000 and $1,000
900 900 worth of long-term investments
in Germany. most Of it acquired since
the World War, are held in America
These figures co not take into consid-
Grafton short term credits estimated at
between $500 600 900 and 81 900 900. 900.
The largest single item OF American
investment is $425, 100000 worth OF
bonds of guaranteed cor
porations, including banking and pub
lie utilities. The next largest is invest
ments in German private corporations
of all kinds estimated at from S36O,0OO,-
Oco to s380000,000.
A census Of direct investments OF
Americans in Germany in 1929 showed
s21e 600 900 invested in branch plants
and other properties. This was in
creased during 1880. Though no definite
figures ere available for 1880 4 was said
direct Investments could be figured nov
at S240. 600, 900.
Central German government bonds
held IN his country are estimated at
from $4,000. 900 to S2l0,000,00o. Ger
man states and provinces owe Amerl-
cans between 500 100000 and 100000,
600, and municipalities between slOo,-
100000 and sl15,oo0'ooo
Interested In 70 Concerns.
Americans own an interest in IS Ger
man concerns. 1t is estimated that this
type of investment accounts for ap-
proximately s1360o0,000.
The financial situation in Germany
was the cause of deep concern today In
administration circles.
Although the decision of the World
Bank for international Settlements a:
Basel had the recommendation OF its
directorate to extend rediscount credit
of 500, 900, 900 to the Reichsbank some
what eased the anxiety. President Hoo
Yer continued to watch every develop
ment
While the American Government can
take no direct action, President Hoover
has been assured domestic bankers would
place their powerful influence behind any
Plan that would bring about Germany's
economic restoration.
Americas ambassador at large" this
week will set up new temporary quar-
ters in London to represent the Gov
eminent of the United States.
From his official post as Ambassador
to Belgium, Hugh S. Gibson will cross
the English Channel to become Presi-
dent Hoover's special emissary to the
meeting of technical experts Who will
work out details of an intergovern-
mental debt moratorium plan. He will
attend as official observer of the Amer
lean Government