Evening star., 1932-10-16
Thousands Return to Work
as Mills and Factories In
crease Operations.
RUM0R OF PARIS DRIVE
ON DOLLAR DISCREDITED
British Are Optimistic, but Busi-
ness Men Fear Unfavorable Re-
suits From Tariff Debates.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, October 15.-Cables and
wireless dispatches to the Business Week
give the following survey of business
abroad fer the week ending today:
Berlin.-German business optimism,
struggling against tremendous odds for
many months, consolidated its position
this week. Scanning Developments, even
the Skeptics had to admit that there
was marked improvement
Unemployed showed a decline Of
10000 compared with mid-September.
Savings deposits we're on the increase.
The coal and steel industries were
mere active. Textile and rayon mills
called back large numbers of workers.
Even the paper and jewelry trades
found 1t necessary to increase their
staffs Freight returns were better than
a few weeks ago, and the number OF
chips tied up in German ports declined.
Hamburg especially reflected the in
crease in export sales. September bank
ruptcies were fewer than in August.
Retail trade. however, was still 20 per
cent below the same period last year.
Strikes Subside.
There were other signs of recovery.
Strikes, which have threatened in
numbsr of industries because of the cuts
which the Won Papen plan allowed en-
plCyers TO make if it would allow re-
employment on large scale, have SUBJ
sided. and there is a prospect that fur
ther difficulties will not get out Of con-
troi Securities listed on the principal
Bcurses were hopefully resistant in spite
of various bear attacks.
The most discouraging development
rl,iri y-aek the threat tn the
export business. When Germany de-
creed the latest import quotas, which
hit vast lists of items exported in fair
volume from a large number of coun-
tries. exporters warned that there would
be r-etaifat1on. There is. Holland and
Italy refuse to accept the plan and
have raised serious barriers to German
imports. After week of arguing, the
Germans definitely have lost their
point These markets are Importantly
reduced unless the Germans ease their
barriers.
There is another threat to German
foreign trade. All Scandinavia refused
calmly to accept the German exclusion
DEGREES Denmark particularly, resented
them and has gone after the British
market and offered to transfer Danish
orders to London. Stockholm is in the
same frame of mind. Britain, naturally,
is eager to capitalize on this co-opera-
tive spirit, is backing lavish displays OF
British products in the various Scan
dinavian capitals.
Paris.-The weakness of the dollar
on Paris money markets last week was
precipitated by Hoover's speech con-
cerning dollar vulnerability during the
period of gold loss last Spring, but 1t
was substantially aided by combina-
ton of other circumstances. The accusa-
ton that Paris is maneuvering an oHen-
sive against the dollar. however, is
wholly unwarranted since the technical
position of the dollar now renders 1t
safe except in the case Of an exodus
of domestic capita, which still is not
expected.
On the other hand, Londons forced
selling of accumulated dollar holdings
on behalf of her own valuta, the reac-
ton on the New York Stock Exchange
causing further European liquidation,
and principally the present lack Of
foreign trade which is great exchange
stabilizer, sent the dollar again to the
region of the gold export point.
London.-British optimism ran amuck
this week Markets we're fairly steady.
and there was no open break. Labor
troubles loomed again in the textile
business. Business men are bit upset
by the prospect of political squabbling
over the tariffs in final discussions in
Parliament, and there is considerable
uncertainty over the items to be includ-
ed on the import preference list The
country generally is beginning to doubt
the wisdom of tariffs in view Of the
threatened rise in food prices.
Will Scrap Obsolete Ships.
The Council of the British Chamber
of Shipping has decided to foster plan
for the scrapping of from one-third to
one-half of the 100000 tons of idle
British bottoms now tied up in various
ports. Old-time shippers declare that
many of these vessels are obsolete. that
they cannot possibly be operated profit
ably in world competition again. At
the same time there is discussion of
plan for financing the building of the
most modern type of new vessels to
compete with modern foreign tonnage
launched in the last five years.