Evening star., 1932-04-03
Other UnfavorabIe Trade
News Dampens Optimism of
London Business Circles.
FRENCH ARE SKEPTlCAL
OF L0NG-TERM PROSPECT
Apparent Check to Unemployment
Is Noted During Week in
German Situation.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April Gable and
radio dispatches to the Business Week
give the following survey of business
abroad for the week ending today:
London.-Though still in better eco
nomlc condition than continental coun-
tries, Britain this week was absorbed
WIN important new problems which are
aHectlng business. Bankers and ex-
porters in particular have been absorbed
In sterling fluctuations. London con-
tlnues to show a keen demand for new
capital issues, though offerings have
oeen light over the Easter holiday
period. Money remains plentiful. Hopes
for final satisfactory settlement of
the textile labor troubles were virtually
blasted this week when cotton workers
refused TO ratify the agreement on the
more-looms system. Further co-opera-
i've bargaining now seems impossible.
Railroads Protest Tax.
Something has to be done to aid
British railroads. All of the four group
companies which handle the great bulk
OF the country's traffic show smaller
receipts this year than last. The rail-
roads are urging that they are unfairly
taxed In comparison with the motor
transport interests and that, as public
utility services, they are bound to main
tenance Of their service as a whole ir-
respective OF whether this or that par
ticular part Of it pays.
Paris.-In long-term prospect, eco
nomlc conditions in France continue
unfavorable, though currently there are
two or three slightly favorable develop
ments. Unemployment last week for
instance, increased less rapidly, railroad
receipts showed a slight pickup, and
there was modest resumption of activ-
1ty In the northern textile areas. These
are the first evidences of any seasonal
recovery, but they are too meager to
offer much encouragement.
Commodities were generally weak and
volume OF sales restricted due to the
expectation of further defiation. Easter
noldays accentuated the inactivity on
Discussion of the future of the
French Line continues in Paris. Not
w1thstanding opposition in the Senate
1t Is assumed in authoritative quarters
That arrangements will surely be made
for the continuance Of operations, It
Is also thought that there will be no
further delay IN work on either Of the
TWO liners under construction. French
national prestige is so bound up with
the line that neither its disappearance
nor any falling OF In the quality of
its service can be contemplated.
Berlin.-Germany put business on
the shelf last week and entered whole
heartedly into the Easter holiday cele-
brations. Trading on the Boerse was
slow and prices were weak So far
this year there has not been a single
sign of any seasonal upturn.
Steel Production Low.
Gloom followed the reports issued
at the recent annual meetings of the
stockholders Of big banks and large
firms and was accentuated by the re-
ported insolvency Of the famed Junkers
a1rplane and engine factory. There is
no prospect of a revival in the steel
and machinery industries. Iron and
steel production is now scarcely IL per
cent of normal
Encouraging developments are insig-
nif1cant. Unemployment has not in
creased. The total number of inSol-
vencies is somewhat below the total for
March last year. In the industrial sit
uat1on, the only reassuring factor is
the decision of employers in the coA
and steel industries not to avail them
selves of the right to denounce pres
ent wage agreements when they termi-
nate April l, which implies an end of
wage deflation.