Evening star., 1932-11-06
German Industry Shows
Signs of Improvement Dur
ing Past Week.
ENGLAND is CONTINUING
LOAN CONVERSION PLAN
French Export Figures for Nine
Months Reveal Contraction in
Trade With This Country.
Special Dispatch TO The Star.

Special Dispatch TO The Star
NEW YORK, November 5.-Cables
and wireless dispatches to the Busi-
ness Week give the following survsy
of business abroad for the week enulns
today:
Berlin--GermanS are more or less
apathetic over the election TO the Reich
stag which will be held November s,
but they have been unable TO prevent
the traditional prediction uncertainty
from affecting business.
From Berlin. however, it is possible
TO point out several distinctly favorable
factors. One IS the election itself. 1t
Will be over at the END OF the week.
| Whatever the result, business is likely
TO carry on unoer the present Won
Papen government
Signs of Recovery.
More encouraging are the reports
from industry Steel has shown signs
of recovering for several weeks. A
fresh impetus came recently when the
SoVietS placed orders for another So
600 tons. Government railroad orders
are coming through in the prescribed
volume Of about 10000 tons a month.
To this news, cotton and Woolen mill
operators this week reported a re-
markable upturn in business
Even the increase in the number of
jobless in the first two weeks in October
IS not accepted pessimistically. 1t is
pointed out that the Won Papen plan
to create new Jobs in industry is work
ing and that the increase is due only
to the ending of the very seasonal
Summer work. Trade union statistics
support the contention.
Finally every informed observer {r
Berlin confidently expects that the
Reichsbank rediScount rate will very
soon be cut another !. per cent to 81
per cent. making available TO slowly
reviving industry cheaper credit. The
report Of the Reichsbank for the last
several weeks has shown a steadily
improving position.
London.-Britain, like the rest Of the
world is waiting for the American
elections to get out of the way so that
! progress can be made on major ques-
tions Of disarmament, monetary policy.
! tariffs and war debts
The week brought few outstanding
| developments. Stocks were generally
lower, but bonds were steady An
nouncement that the Treasury plans to
| redeem the S378000 900 Of S per cent
bends due on February l indicates
continuation of the policy of convert
ing national obligations to interest rates
in gear with current prices.
Sterling is still unsteady, but the pre-
cipitate drop of last week has been
stopped
Electric output is slightly up. New
castle is rushing an order for $4,000
tons Of steel plate for the Soiets. and
Manchester is busy on an order for 28
tank locomotives for Soviet steel plants.
Both are encouraging signs that Soviet
; business has not come to a standstill
following the breaking of the old trade
agreement. Russian credit guarantees
are not to be extended. however. unless
there are signs that the gap between
the huge volume of British orders placed
in Russia are more or less balanced
with Soviet business coming to British
industry.
Paris.-There was more of talking
than of acting in French business this
week due obviously to the tendency in
Paris as in most other European capi-
tails to mark time until the results of
the American elections are known.
Exports to L. S. OFF.
Foreign trade figures for the first nine
months shows that French exports to
the United States were down Al per
cent compared with the same period
last year. while imports declined only
80 per cent. The balance in favor of
the United States totaled S5l 100000.
Only Germany-with $4,000 000-had
a more favorable balance of trade with
France.
The metallurgical and coal industries
| continue dull. but textiles hope to bene-
fit slightly from the orders that may
be turned from Britain. now that the
textile strike has been renewed there.