Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
IrreguIarity of Commodity
Markets Fails to Shake
Hopeful Outlook.
EMPLOYMENT INCREASES
AS EASTER TRADE GAINS
Disturbing Political Factors Re
moved-German Crisis Seems
Safely Passed.
Special Dispatch to The star.


NEW YORK, April Gable dis
patches ID The Business Week give the
following swift survey of business abroad
for the week ending April 4:
EurOpe.-The week has been char
acterized by further irregularity on COM
modify markets, which so far. however,
has failed to shake growing business
confidence. The hull in activity is I'M
changed and general conditions are
likely to remain the same till the close
CT the Easter holidays.
Wool and rayon, and to less extent,
cotton, continued strong and active.
Iron and steel showed signs of improve
ment and forecasts for April anticipate
further expansion. But non-ferrous
metals developed pronounced weakness.
This weakness, and the further relapse
of rubber, while partly attributable to
market conditions, Is due more to I'M
certainties arising in connection with
current production restriction schemes.
Whether they will be contaminated
either for rubber or lead, or whether
they can prove effective. as for copper,
remains open to question.
Security Markets Quiet.
Security markets are listless except
for the further advance in Berlin. In
fact the most promising factor in the
general picture is the continued inn
provement in Germany, until recently
the center OF depression Both domestic
and foreign confidence has strengthened
markedly, as reflected in German Sc
curities and the influx of capital which
has strengthened the reichmark to the
point CT permitting gold purchase in
Paris this week. and gradual relaxa-
| ton Of money stringency.
Employment picked up on signs of
somewhat stronger demand on German
domestic markets coupled with the
maintenance Of exports and further
symptoms of the improved trend. In
ternal political conditions have greatly
strengthened, rejecting the able leader
ship of Chancellor Bruening. and with
six months respite from political friction
ahead, as the Reichstag adjourns for
the Summer. and with the budget bill
sharply reducing expenditures, the crisis
seems safely to be passed.
Prices Firmer in Britain.
Europe is not a little surprised over
I Franco-American eagerness to back the
| Spanish credit relative to stabilizing
the psseta, particularly in view of
political uncertainty in Spain. England
| frankly criticizes lending such large
sums with SPANS huge gold reserve
| lying idle.
LondOn.-Business has not improved
but prices are f1rmer and there are
many evidences Of confidence behind the
present temporary lull Wool and rayon
are better. Cotton has suffered a slight
| setback Coal has responded to Spring
| demand Failure Of lead producers to
| reach an agreement at their conference
| in London sent lead down. Trading
| continues to be cratic. The non-fer-
rous group generally is unsettled.
There is again marked money strin-
gency in Lombard street. Stock mar
kets reacted downward to the threat
| OF default in Australian bonds and to
| the uncertainty of the Outcome of the
India congress. other adverse factors
| include the passing of the Cunard diVi-
dend and the sharp fall in the price
| OF molasses.
Gain in Employment.
| Labor, conditions have improved I'm
/ employment decreased $4,000 for the
! second consecutive week. Strike threats
are vanishing. Acceptance of the wage
reduction award. by the railway unions
| brings q promise Of IL months Of peace,
but dissent in some sections OF the in
| dustry is still strong and is causing
| trouble. A virtual work to-rule" atti-
tude has been adopted, which may
cause employers many worries even be-
lore the new truce ends. In the build
ing Industry, strikers have agreed to a
| six months truce to reconsider new
| terms. Electricians in the London area
are still on strike, but settlement seems
near.
Paris-Poor business, poor prospects
| this is a fair summary of the eco
| f0r Ha,at maat'e
featureless developments are devoid of
any real significance.
Retail activity is seasonably expanded,
but basic production and the uF1al
business indicators continue downward.
February pig iron production dropped
IL per cent below January output. Steel
was of per cent, touching the lowest
output figures since November, 1927.
! Compared with lat blast furnaces in
in blast. In April, 1929 (peak month";
l58 were III operation.
Hitherto Movement Waning.
Passport and visa requirements, for
the first time. since the war, are to be
Colonial EXposition-May / to october
3l-with the hope that Paris can at
tract even more than the 100000 Wis
itors who came in 1880.
Berlin.-Passage of the budget before
the close of the fiscal year, also the
passage OF the program for East Ger
man farm relief, with subsequent adj
journment of the Reichstag until Oc-
tober. marked the termination of an
agitated period IN German politics and
an important ster forward u political
and economic consolidation. with Chain
cellor Breuning in undisputed control
for the next halt year. Business is
greatly relieved The Hiterite wave
shows definite signs of subsiding, their
tactics since Withdrawing from the
ReichStae being a complete failure