Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-09
FOREIGN TRADERS
4 REPORTED ACTIVE
Prospect of Higher British
Tax Rate DivertS Funds
to Wall Street.
BY JOHN F. SINCLAIR.
Dispatch to The Star.

BY JOHN F. SINCLAIR.
special Dispatch to The Star.
NEW YORK, March 9.-From re-
sponsible source comes the information
that the present stock market activity
is very largely due to foreign money
which has been arriving In New York
at the rate of several million dollars
week.
''If you check carefully you will find
that the stock market activity began
within three days after Chancellor
Snowden made his prediction in the
British House of Commons that Brit
ish taxes must be increased" said my
informant.
"From that day to this large British
financial interests, as well as those from
other nations, have sent a great deal q
money over here for investment and
speculation in the United States. My
guess is that 90 per cent of all the
stock buying today is due to this money
and credit from abroad"
This Is an interesting and, If true,
most important observation. 1t would
indicate that the long-suffering Amer
lean public has not yet recovered Its
nerve and its pocket book sufficient TO
resume optimistic operations IN wall
Street.
French Lending.
France is leaving no stone unturned
in an effort to become world banker.
A few days ago 1t was an italian loan.
Now a s26,O00,0 900 loan to Rumania has
been arranged in Paris.
It is understood that the loan will
be offered to investors at 81 and bear
interest at ~ per cent. This Is In
contrast to the first Rumanian stabil1-
zation loan issued two years ago, which
bore per cent interest and was issued
at 90.
While the French government denies
having any official participation in this
loan activity, there Is no question but
that the government has been co-operat-
ing in every way 1t can, to secure the
business for French bankers.
AS soon as this is out of the way
and about S4,000,O00 of the Roumanian
loan is expected to be sold in the United
States-a loan to the Greek govern
nent will receive close attention in
Paris. The Greek representatives
recently, seeking $4,000 900 for the
completion of a public works program.
Paris is working hard to take the
lead away from London, as the financial
center of Europe.
The appointment of DR.. otto Kiep,
counselor of the German embassy at
Washington, to be consul general at
New York City, comes as good news TO
the thousands of business men through
out the United States
For many years, DR.. kiep has mad MS
finger on the pulse of world business.
He has been instrumental in many
cases in working out delicate German
American problems.
After graduating from German
schools and universities, DR.. Kiep con-
tinued his studies in economics at
oxford University. He then entered
the governmsn t service and spent some
years In Scotland in the consular SER
vice.
The doctor has been counselor of the
German embassy In Washington tor
the last 10 years.
ArnOId's Retirement.
The retirement of Lord Arnold from
the British cabinet is big loss TO the
Labor party and to Prime Minister
Macdonald personally. For LORD
Arnold is one of Mr.. Macdonald
closest friends, as well as his political
adviser.
Some years ago, when Premier Mac
Donald was the leader OF the opposition
in the House Of Commons, asked him
what member of the Labor party had
the most comprehensive grasp on BTU
ish financial problems.
expected the genial Scotchman 70
say Philip Snowden. But he surprised
me- by saying: Sidney Arnold Is the
man. He's not so technical as Philip
Snowden, but the sweep Of his mind is
very wide and omprehensive."
At my request, Mr.. Macdonald made
an immediate appointment with Lord
Arnold for me. I found him a small,
modest man, who answered questions In
an unhurried, careful manner. He was
on familiar ground, for he had been
the Liberal financial secretary OF the
treasury at SO.
Sidney Arnold was made member OF
the House Of Lords by Prime Minister
Macdonald, to enable the Labor gov
eminent TO have an able champion In
the Upper House.
Now at SO, he retires from active po-
Itical life. He was Liberal member
of Parliament from 1912 to 1921. In
1922 he Joined the Labor party, and
when the Macdonald government came
into power in 1924, he became under
secretary for the colonies.
In the present government he be-
came paymaster general without pay.
Lord Arnold accompanied Premier
Macdonald to the United States last
year.
Advertising Light.
Alfred Gauthier of New York has
been working for the last six years
perfecting a 1-million-candle power
searchlight, 10 project advertising mat
ter for so miles in colors on the sky,
without a background.
The Gauthier light operates from a
carbon arc, and has a 24-inch lens.
The rays pass through a stencil, and
at certain distance the letters appear
etched in the beam.
To read the sign reasonably well,
when the small light is being used, one
must be about a mile away. But the
large nght-the 91-million- candle-pow-
er earchlight-throws the advertising
through space from New York over
into the New Jersey sky.
Mr.. Gauthier is an Alsatian, who has
been in the United States for the last
20 years. Every night this 9l-million-
candle-power light pierces the heavens
above New York City and New Jersey.
L. has power enough TO illuminate
every apartment in New York City. Yet
IL costs but AZ cents an hour to operate
and $20. 900 TO install
And MFR. Gauthier says that it will
penetrate mist, snow and fog without
diflculty, and its pure white rays are
without glare.
Copyright, 1891. by North American News
paper AllisnceD