Evening star., 1932-05-08
BRITISH BUSINESS
SHOWS EXPANSION
DURING PAST WEEK
New Tariffs Are Expected to
Prove Substantial Aid to
Recovery.
FRENCH TRADE AFFECTED
BY POLITICAL FACTORS
German Industry Continues Stag
nant-War Threats Disturb
the Far East.
Special Dispatch 10 The Star

Special Dispatch to The Star.
NEW YORK, May 7-Cable and
! radio dispatches to the Business Week
give the following survey of conditions
| abroad for the week ending today:
L0ndOn.-Several factors shook Brit
lsh confidence, as reflected in the stock
market this week, but the general tone
remains good. Behind all the Com
ments, pro and con, on the new tariffs
there Is a broad feeling of confidence
that they will do much to help Britain.
The volume Of business concerned has
surprised even the British general pub
lie.
There was a second cheering factor.
The announcement of the new treasury
bond issue of unlimited amount at 8
per cent is received most favorably in
Lombard Street. Most significant. the
| issue IS looked upon as a trial balloon
before the government definitely goes
ahead with plans for the extensive war
loan conversion operations.
Stock Market Irregular.
Less favorable factors crowded into
the picture during the week. The stock
market was particularly nervous over
| the general European situation. Ru-
mors OF impending trouble IN certain
| industrial and investment houses have
| apso spread. The city looks on the
Anglo-C Chilean default as the beginning
Of bust-up of Cosach, in which much
British money is invested, and there are
rumors that important tin interests are
in shaky condition.
Paris.-French business had a bad
case of the jitters when the reports of
the preliminary election returns were
published and showed distinct gains
for the Left. Prices on the Bourse de-
| clined sharply and sentiment turned
| peSsimistic
In the meantime, little attention is
being paid to the continued decline in
the number of unemployed, reports of
| briscker retail sales and continued
larger orders in some Of the light in
dustries.
Americans doing business in France
| were cheered by the favorable decision
| of the government toward eliminating
| double taxes on foreign business, but
saw themselves further Disseminated
against in the new iodine import quota,
which gives the largest quotas to Japan
| and Germany.
Berlin.-Germany's precarious situa-
| tion has not improved this week. Un-
| employment has failed to show any
| satisfactory seasonal decline. The steel
| and coal industries continued stagnant
during the week, but the chemical,
glass, clothing, wod and knitting goods
| industries showed slight signs of i'm
| provement. Financing arrangements
have been completed for 300, 900 tons
of Russian steel orders, and there Is
hope that Germany will be able to book
a Soviet order for freight cars. Other
export business is slack
The Far EaSt.-Business is still very
much in allegiance because OF military
activities and the threat of further
troubles. Signs of business dullness in
China are spread over a wide range of
activities. Retail trade Is slack. In
Shanghai three Of the larger depart
ment stores are operating at less than
half their normal volume Old con-
struction projects are being pushed, but
little new construction is being started.
Import and export business is small.
The domestic bond market remains
officially closed. Money is plentiful, but
credits are tight and are expected to
| continue so.
japanese Trade Improves.
Japan, on the other hand, was buoy
| ant this week. Markets were favorably
affected by the conclusion of the sale
by the government of indemnified silk
by the governments decision to enlarge
the currency issue allowed on the gold
base and by the prospect of salts
factory settlement at Shanghai.
Foreign trade for the last 10 days Of
April continued to show a large un-
favorable balance, with imports Of raw
cotton still very large.