Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-15
Preparations and Debts Re-
vision Question Are Still
Disturbing Factors.
SPORADIC IMPROVEMENT
IN INDUSTRY is SHOWN
Wage Disputes Affect Cotton Trade
in England-Metals
Higher.
Special Dispatch to The Star.

NEW YORK, February 14.-Cable
dispatches to the Business Week give
the following swift survey of business
abroad for the week ending February IA :
Europe.-Fftful conditions since the
beginning of the year give signs this
week of steadying.
| debts revision is growing warmer and
| may shortly come to a boil. In his
| important and well received speech be-
fore the Reichstag, DR.. Bruening de-
clared the policy of the government
was to collaborate in seeking compre-
hensive and organically sound solution,
but he served notice that the govern
ment Is ready to incur every unpopu-
larity in opposing all provocative or
precipitate proposals designed to attain
merely a fractional solution to this
worldwide problem. European discus
sion momentarily is occupied with the
d 'Ormesson proposal, suggesting on the
one hand so per cent reduction on
both unconditional reparations and war
debts in the next two years; on the
other hand, reduction by one-twelfth of
the Franco-German military appropria-
tons.
Commodities Still Irregular.
Day-by-day business changed but lit
tie during the week. Trade and in
dustry here and there show sporadic
improvement, but so far this fails to
match the greater financial vigor al
ready noted, or to substantiate more
sanguine views. Commodity markets
continue to be irregular. The uniform
advance in textiles, noted a week ago,
has broken up. Wool continues strong.
The lockout in Lancashire is taking on
deeper stubbornnesS and becoming a.
dispute of first magnitude. Jute has
again relapsed Calcutta year-end
stocks of cloth total 243,000,000 yards,
compared with $4,000, 900 at the end of
1929. Proposals now current would
paddock part of the Bessian looms.
All non-ferrous metals, on the other
hand. began the week with a rebound
from 10 days of steady decline, led by
tin on the reported overwhelming vote
of the Malay producers favoring re-
striction, with the Malayan government
ready to sign quota scheme. Silver
futures, however broke an even shilling
an ounce, with India reported planning
to unload $50,000,000 of retired silver
currency in China. At present levels
this metal loses monetary significance,
raising the question as to what is its
industrial value.
LOH0OH.-GOITlLIlOQlLI dlC uAAiAh-
proved, with the only bright spots in
the business outlook increased sales of
pig iron and small movements in steel.
London wool sales, after a flat opening,
recovered spectacularly.
Cotton Wage Dispute.
The cotton stoppage continues with
weavers refusing to negotiate after the
belated statement from employers aSsur-
iy1rr h %1aa% k1n SuCfpY11
means less hard work and more money,
that the displacement of labor will be
arranged by joint group of owners and
union representatives. An important
Lancashire group has announced plans
to build mills in India to lower the
tariffs and to overcome inability to re-
duce English costs. Finance experts are
leaving shortly to choose sites and to
supervise buildings, all with the hope
of being able to recapture the indian
market for piece goods.
Paris.-The depression cycle continues
to widen and deepen. Industrial activ-
ity Is being further restricted. Railway
receipts and car loadingS have dropped
to new low levels. Business is much
concerned as to how the 1880 40-mil-
lion-dollar railway deficit will be COW
cred, and is strongly opposed to any
increase in rates at the present Juncture.
Unemployment, hitherto only frac-
tionally represented by the 10000 per-
sons receiving government relief (France
is among the few countries in Europe
DO far to have resisted the introduction
of federal unemployment inSurance), is
now declared by the French delegate to
the International Labor Bureau at
Geneva to be $50, 1000, to which 1,00O,0 900
short-time jobleSS can be added This
total is based on a recent industrial
survey and does not include agricultural
unemployment or workers in establish
ments employing fewer than 100 work.
ers. Part-time unemployment has gen.
eralized in the textile industries, and is
spreading to the northern coal mines
and steel plants. The Alsatian potash
basis.
Agricultural Conditions.
Agricultural conditions are unsatis-
factory. Winter wheat Is reported in
poor shape, with acreage reduced. No
further development is proposed for an
additional increase in the wheat duty.
The years sugar excess, due to a
bumper crop, is placed at 100000 tons.
France did not participate in the Chad
bourne plan and refiners now are ne
gotiating with beet growers for joint
storage of this excess.
BERLIN.-BuSinesS sentiment, which
improved early in the week on evidence
of political sterilization and reports of
the first French participation in Ger
man government credit, which is con-
sidered a sign of returning foreign con-
f1dence in German finance and indica-
tive of the possibility of an influx of
French capital, again hesitated after
Tuesdays upset in the Reichstag.
The weeks outstanding event is the
announced participation of French
banking consortium, headed by the
Banque de Paris ct DIES Pays Bas, up to
80 per cent in the $50, 100000 in inter-
national credit for financing the pur-
chase of an equal amount of preferred
shares in the Federal Railway Co. sold
by the treasury to employees of the In
surance Board. The latter originally
were expected to pay monthly install
mentS until December, 1882, but the
present trancastion will make the pro-
ceeds available to the treasury irnme-