Evening star., 1933-09-24
Fate of Dollar and Events in
Central Europe Are Chief
Worries.
STERN FRENCH STAND
FOR GOLD is EXPECTED
Germany Issues First DEGREES Fix
ing Prices for Farmers and
Curbing Acreage Strictly.

NEW YORK, September 23-Cables
and wireless dispatches to Business
Week give the following survey Of bust
ness abroad for the week ending today:
London-The most interesting as
pect of British stock and share buying
in recent weeks is that good industrials
are still subject to selective buying on
recovery" motives. although many OF
the favored securities already have had
at least years progress discounted by
the optimists.
same two imponderableS: What is to
happen to the dollar? and what is to
be the immediate course of events in
Central Europe? Behind these two
questions turks the third: Can the
franc stay on gold?
Expert and informed opinion Is that
the dollar will be devalued the weeks
erratic exchange fluctuations were
caused by renewed rumors that deval-
uetion Is imminenD; that Central Eu-
rope will remain in its present state
Of uncertainty for some months to
come; that the franc will make a stern
fight to remain on gold. but that de-
valuation by 20 per cent is likely before
the end of the year. All these conjec-
lures are preventing business from NOV
ing ahead with any certainty.
Some confirmation of the belief that
American capital interests are selling
their securities abroad is to be found
in the news that, following the recent
sale Of the Boots drug chain by Drug
Tn yv,tf fnfn Nd thn hi v>lo
ing Of (American) Woolworth shares
the share held by the international
Combustion Engineering Corporation OF
New York in International Combustion
Ltd, of London. international Com
bustion. Ltd, was originally called
Vickers & International Combustion
Engineering: was registered as a private
company in December. 1928; designs
and builds power plants Of all kinds;
has authorized and issued capital OF
81 10000 in FL shares: has for some
years been affiliated with the Interna-
tional Combustion Engineering Corpora
ton of New York;
Reich Helps Farmers.
Berlin-The government came to
the aid of the farmer again this week
with the first Of a series of DEGREES
guaranteeing prices and restricting
acreage Farmers who sell their prod
ucts below the minimum prices will be
severely punished.
The announcement was made by Hit
ter Dare A minimum price for the
sale of wheat and rye Is named, and
it is slightly above the prevailing mar
ket quotations Other grains are ex-
pected to be covered by another de-
cree in a short time.
Further to protect the farmer. acre
age was ordered to be held to the level
of 1882 Products not raised in suffl-
cient quantity to supply the domestic
market will be subsidized until produc-
ton is increased. Flaxseed. partic-
ularly, will come under the protection
of the government and farmers in GER
tain regions will be urged to turn from
the raising of wheat and flax.
Germans look for the complete G-
ganiZation Of agriculture under q sort
Of farmers syndicate. In control vii
be the Nazi minister of agriculture with
his agricultural and economic advisers
There will be special divisions within
this big syndicate to handle the spe-
cial problems of various agrarian
groups. Working through this organi-
Zation, the NaZis expect to carry out
their program Of making Germany as
self-sufficient as possible in the pro-
duction of foodstuffs Economists ex-
pect the plan must be made to cover
industry also if it Is to be successful.
Paris Watches Exchanges.
Paris-Foreign exchanges again con-
sumed all interest in France this week
Dollars dropped to a new low and
sterling was depressed, causing q
growing group in the French financial
capital to turn bearish on both these
currencies. Feeling is spreading that
the United States will soon embark on
an open devaluation policy.
A financial writer on the PariS-Midi
summarizes paramount French inter-
ests neatly: Several great nations
now are renouncing pre-war capital
ism to venture perilously into the un-
known. They are calling it expert
mentation. The word ought to be revo-
luton. There is the Hitlerite revolu-
tion and the American revolution just
as there was the Soviet revolution"
Attracting only little less interest
are the various speculations on
budget balancing. France is going to
end the year with a deficit Of at least
six billion francs. There is as yet no
provision for making up this delin-
quency. The French budget totals
about so million francs. nearly IS per
cent Of which goes toward public debt
service and military expenditures, both
of which are pretty much fixed items.
Out Of the remaining 80 billions,
France needs to save at least six
billions.