Evening star., 1932-04-17
BRITISH BUSINESS
IS ENCOURAGEDBy
GAINS IN EXPORTS
Decrease in Unemployment
Noted During Week-Pol-
itics Affect Securities.
SEASONAL TRADE UPTURN
IN FRANCE is REPORTED
Germany Still Apprehensive Over
Threat of Further Activities
by Hitlerites.
Special Dispatch to The Star.


NEW YORK, April 16.-Cable and
radio dispatches to the Business Week
give the following survey of business
abroad for the week ending today:
London.-BritiSh business found
grounds for announcement in a num-
Der of factors this week. March for
elgn trade returns are good. Imports
are well below the February total and
exports are up. Unemployment was
i35, ,84l below the February total. and
l2,106 below the total for a wear ago.
important in the export increase
were textiles. British piece goods went
IN increasing volume to India, Eeypt
Switzerland, West Africa, Australia
Iraq and shipments to China were
nearly three times what they were a
year ago.
Disturbing Political Factors.
Securities markets are affected still
oy worries over the possible outcome of
Ine kreuger affair. by the prospect of
large Hitler gain in Forthcoming Ger
man state elections, by disappointment
that the Danube conference has as vet
accomplished nothing constructive and.
IN the delay increased the prospects
OF turther defaults in Austria Hungary.
Bulgaria and Greece. However. money
is easy and further cut in the bank
rate is expected.
Par1s.-France experienced a genuine
II not widespread. Spring pickup this
week, but optimism is lost in the gloom
Oh International uncertainties which
have developed
Unemployment has continued its slow
decline for another week. Rail receipts.
though II per cent below the level at
tnlS time last year, are the best since
December
The flourish of new issues this week
brought out plenty Ct subscribers despite
the uncertainties which political can
didates and the press have been PLAYING
up. Included in the list was the French
goVernment-guaranteed Czechoslovakian
issue OF S24 900, which carries S per
cent interest
Resentment is spreading, and not q
little uneasineSs has been occasioned
by the rumor-mongering campaign
which Is being waged against the dollar
and against American bankers. In Paris.
II is attributed to unknown spectators.
Certainly it is not representative of the
general attitude Of French f1nanciers.
The Bank of France is actively support
ing the dollar.
Berlin.-Business lacked confidence
this week. The presidential elections
came out as expected, but the increased
Hitler majority sent stock quotations
down, had generally depressing effect.
After being closed since the bank
crash in July, except for a period Of
three weeks late III August and early
September. official quotations were once
more permitted on the bourse this week.
They were disappointing, and trading
was dull
When February public revenue was
revealed, totals were IL per cent below
those of year ago, despite new taxes.
Railroad receipts were down % per
cent. And March foreign trade returns,
due soon, are sure to be disappointing.
Unemployment Decreased.
Not all developments are unfavorable.
Unemployment is down $4,000 in the
faint Spring revival in the consumer
industries. Money is easier. Savings
ing the return, slowly, of public
confidence. Bankruptcies in March were
down appreciably
Far East-BusineSS at Shanghai Is
still mending, but the outlook for China
is more and more cloudy as prepara-
tionS go forward for civil war The
country narrowly averted a moratorium
on government loans during the recent
strife. Now the servicing of domestic
loans has been put in the hands of the
marine customs all interest has been
cut to per cent, and the revenue from
the salt tax, stamp duties and factory
excise taxes has been conserved for
government expenses.
japanese business, except those
branches of the heavy industries which
are filling orders from Manchuria, is
still slack Banks are still under a
strain. Specific duties up to 40 per cent
will almost inevitably be levied when
the Diet meets in May.