Evening star., 1932-09-18
FOREIGN ECONOMIC
OUTLOOK IMPROVED
| BUT TRADE |SSLOW
Public Interest in London
Stock Market Has Shown
an Increase.
FRENCH ARE WATCHING
0AN-C0NVERSION PLAN
German Business Situation Is Ap-
parently Unaffected by Dissolu-
ton of the Reichstag.
Special Dispatch TO The Star.

Special Dispatch to The Star.
NEW YORK, September 17.-Cables
and wireless dispatches to the Business
Week give the following survey Of bust
ness abroad for the week ending today:
London.-The British continued to be
optimistic this week over the general
business outlook. The stock market
was bit irregular, but there were no
serious setbacks. Public interest, in
fact, continues to expand. Industrial
shares gained In popularity during the
week. Commodity prices also were
steady, except for the setbackS suffered
by tin and silver
Industrially, despite the serious strike
among the Lancashire textile workers.
which has affected more than 10000
men, there are a few hopeful develop
ments. Electric output for August was
up IA per cent. Air traffic in the first
six months Of the year doubled the
volume in the same period last year.
Foreign demand for cotton goods and
rayon is good. though there is some
doubt how much this will help the tex
tixe industry unless the strike is settled
soon.
Indian Import Duties.
Similarly questionable is the benefit
which the British will reap from the
new and improved preference on the
Indian cloth market unless peace is
returned to the industry. The Indian
government has decided upon an i'm
mediate increase in the import duties on
all non-British cotton goods from 3ll4
to so per cent ad valorem. This 6e-
cision will chiefly affect japanese goods,
which will now have to stand duty of
so per cent against Is per cent for
British goods The Lancashire pref
erence Is increased from Ga per cent
to 25 per cent.
Paris.-Reaction marked the security
markets in France this week. but there
were no serious unfavorable develop
ments. A part of the downward move
ment was due to the tendency of the
French Bourse to follow Wall Street
trends. Another factor was the uncer-
tainty caused by Germanys arms de-
mands and by the dissolution of the
Reichstag in Berlin. And finally. there
is inaction In stocks pending compile
ton of the loan conversion operation
which was approved by the parlia-
ment today. The public has en-
tered the market Fundamentally with
in the last month and it is likely
that the conversion will receive wide
popular support as a patriotic measure.
AT heart, the Frenchman is reluctant to
accept another writedown on his in
vestments in government securities
Fortunately the week revealed some
encouraging developments. Unemploy-
ment is still declining. The coal, iron
and steel and textile industries con-
tinue to register small gains in the
volume of orders coming to them. There
are fair prospects that the Stresa con-
ference will reach some agreement to
revive international trade in Central
Europe.
Berlin.--This weeks dramatic disso-
luton of the Reichstag has not affected
the basic strength of the Won Papen
government, because its opposition is
still too heterogeneous and disunited to
be effective. German business is aware
of this condition and refused to be
strongly influenced by developments. A
good share of the stimulus from the
Won Papen plan for industrial relief,
however has been lost, at least tempo
rarily. 1t seems now, that the govern
ment will adhere to the constitution
and that there will be another election
within 60 days. This uncertainty viii
reflect itself on business.
In motivating these increases, at least
as far as American Office appliances
were concerned, the fact was stressed
that, in spite of the depression. imports
of American typewriters into Germany
have increased rapidly In the first
seven months of 1882, l4,212 machines
were imported. in contrast with 2,473
in the same period in 1881.