Evening star., 1933-11-05
britain WATCHES
R00SEVELT'S GOLD
| PROGRAM CLOSELY
Issue of Paper Money Likely
Before Long, Believe
London Leaders.
new MINISTRY EXPECTED
TO END SOON IN FRANCE
Both Germany and United King.
dom Report Continuation of
Industrial Gains.
Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November Gables
and wireless dispatches to Business
Week give the following survey Of
business abroad for the week ending
today:
LONDON N-Britain's chief interest all
week has been the Roosevelt plan to
push UP prices by pushing down the
dollar through the purchase of gold
on the world market at prices fixed
in Washington we'll above the preyail-
ing world level.
At the end of the week the country
is almost as baffled over the outcome
as at the beginning Some sections
OF the city believe that the R. F. c. will
buy sterling against dollars and thus
absorb gold coming into the London
market. Others believe that. after a
nouncement Will be made TO the effect
that the new policy Is no better than
the old and a varying statutory price
will be fixed for gold imported into the
United States.
And London believes that outright
issue of paper money in the United
States can be expected before very
long.
Business Tone Excellent.
The general business tone Is excellent
The London and North Eastern Railway
has announced that. as a consequence
of a return to better trade conditions
throughout its system, it will spend
f2.3 millions for new locom ctiyes, roll
ing stock. and bridges so as to be ready
to meet the greater demands which will
develop as business expands.
The Austin Motor Co.. which spe-
cializes in 8. TO- and IL horsepower
M cdels, reports increased sales. during
in the home market and 81 per cent
in the export trade Continental con-
SO per cent over the previous year
Dividends for the IL months amount
to 20 per cent on preferred ordinary
and a bonus of IS per cent e ton On ordinarS sS;
shares, making a total distribution Of
100 per cent on the latter!
Completion during the year of pen
ness plans for employees was announced.
to which the company is making large
contributions. Austin cars are built in
so models the lowest price being GlO5.
or about $500.
Germans Indifferent
BERL1N.-Roosevelt' new dollar
cheapening policy is watched more or
less alphabetically in Germany The
mark has for so long been artifcally iso-
lated that this new complication will
have little more effect on 1t than have
previous crises
Germany is only technically on the
gold standard. There are, in fact, two
curTencles in Germany, one for internal
use. the other for foreign trade. In
ternally. the mark is worth as much as
1t ever was. Also, Germans paying debts
abroad offer marks valued at their gold
par rate. But when they sell abroad,
Germans accept payment in blocked
marks" which can be purchased by for
elgners at discounts ranging up to SO
per cent. This is the policy Germans
ports fair chance in a world market
where they must compete with quota
lions in deprecated dollars and sterling.
industrial production in Germany this
week Is well maintained with the usual
downward trend demonstrably
by governmental measures.
On the stock market the weakness in
shares contrasts with the steady ad-
vance in bonds, which has resulted in a
decline in yield since September of
per cent.
Paris Effects New Crisis.
PARIS.-France is not impressed with
the new ministry headed by Albert Sar-
raut and fully expects that it is too
weak to last for long in the face Of the
knotty budget problems and the newesS.
threat to the French franc from Wash
ngton. It is popularly believed that the
next government formed will be a sort
of coalition Of center parties despite the
TACT they are not widely popular. 1t is
\ matter Of choosing the least objec-
tionable, and France is likely to show
preference for this group over either ex-
RENE right or left control Of the gov
eminent.