Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-06-12
Employment Increases and
Railroad Receipts Gain
in Past Week.
BRITAIN PINNING HOPES
ON LONDON CONFERENCE
German Business Receivers Some
what After Sudden Change
in Government.
Special Dispatch to The Star.


NEW YORK, June 1l-CahIe an
wireless dispatches to the Business
Week give the following survey of bust
ness abroad for the week ending TODAY:
Paris.-The economic trend in France
Is momentarily slightly better. The
nuinoer OF employed has increased dur
ing the week. Rail receipts are again
up. consumer industries show some
Improvement though 1t is counter
balanced by further depression in the
metaIIurgical industries. The country
Is deeply concerned over the steel tariff
IN Britain which is the largest market
LOT french steel products.
1nere Is uneasiness, but no hysteria
over developments in Germany. con-
eiEueo skepticlsm regarding the United
! SCaIes, and little expectation of any
oenent from Lausanne or from the
economic conference at London if debts
are to be excluded from the apenda
New Government Approved.
Business throughout the country an
proves the new Herriot Liberal govern
ment and the policies to which 1t has
pledged itself Fiscal policies will be
watched carefully No change of pres
ent policy is likely until a COMPLETE
financial inventory has been taken.
Lonoon--Br1tain is gripped with In
creasing pessimism this week. Only the
wan nope that the projected London
conference can do something to raise
prices has offered encouragement.
Local Factors had as much to do with
the lreSh uIeasiness as the increasing
OF Lazarus g. Sons, important metal
dealers. upset the market. The sus-
pension was announced on the London
metal exchange. Lazarus & Sons was
one OF the Oldest firms on the exchange
ana was said to have been heavily
committed in tin.
Unemployment rose 80 900 in MAY
though part of the increase was die
10 the holiday stoppages. In the cot
ton industry, where there has been the
threat OF strike for some time. de-
Velopments are conflicting. A ballot
among the workers shows a majority
IN favor OF strike as against no strike,
put also q majority In favor of first
carrying on further negotiations With
the owners. Most regions anticipate
mat some sort OF working truce viii be
arranged pending further negotiations
berlin.-Business this week recovered
from its first shock following the change
OF government. 1t Is becoming increas-
lngly evident in Berlin that the Won
Papen government is intended only as
an interim government and that in the
Relchstag elections at the end of July
the Hltlerites are likely to win a clear
majority which will put them in power.
The Bourse reacted favorably during
the week when the new government de-
clared 1t had no plans for attempting
imitation. The fight of money from
bonds to shares, which followed the
hrst news OF the fall Of Chancellor
Bruening. has been stopped. The
downward trend of industrial prodlc
ton has not changed. Prices generally
are lower
LOAF Payments.
Export trade Is increasingly dif6cult
as restrictions mount and depression
spreads. Unemployment is only slight
~ down. Relief, particularly in the
cities is becoming increasingly diff
cult as funds are depleted. The change
OF government removes the possibility
OF two Bruening plans being enacted
to affect the unemployed: Large
estates of bankrupt landlords will MOI
be parcelled out to the UNEMPLOYED.
and veteran pensions are not likely to
| be reduced despite the drain on the
national treasury. Railroad earnings
are p per cent below the figure for
1881.
1t is increasingly probable that Ger
many will not much longer be able to
| meet payments on foreign loans. With
the prospect of complete failure at
Lausanne, and the dwindling hope of
any success at London, no way out of
the situation is in view. The spread
| OF this knowledge in Germany, together
with rapidly intensifying distress Of
the unemployed. is behind rumors of
military dictatorship, and of grum-
| blings in the southern states, where a
separatist movement is even being dis
! cuSsed