Evening star., 1933-06-25
BRITISH BUSINESS
STILL GAINING, BUT
At REDUCED PACE
Leaders Hope for Ultimate
Sterilization of Dollar.
Uncertainty Felt.
FRENCH JOBS INCREASE,
.REICH LULL APPEARS
Official Paris Newspaper Calls Par
ley Disillusion-German Slump
Laid to Politics.
Special Dispatch to The Star

special DlSpatcn 10 ne star.
NEW YORK. June 24-Cables and
wireless dispatches to Business Week
give the following survey of business
abroad for the week ending today:
London-British business is under
the influence of the conference and so
is less buoyant this week than it has
been, though the tone still is good.
Both stocks and commodities Jagged
during the days when stabilization of
world currencies was rumored. but both
scared later as the dollar sagged. This
new price rise is largely artificial. Un-
employment is declining slowly, and
iron and steel production is slightly
up, but progress is slow. Most en-
couraging signs of recovery are still
the reports from the northern manu-
featuring regions that industry, long
depressed, is steadily improving.
Pessimism was general when the sta
bilization rumor was blasted. A good
deal of interest now is attached to the
coming visit of Prof. Moley. It is hoped
that there will be some agreement
among the central banks to keep the
dollar. unofficially, within an agreed
price range.
French Disillusioned.
Paris.-French reaction to the World
Economic Conference is expressed typ
ically in LIE Temps, official daily news
paper, this week: 1T would be diff
cult not to recognize that the London
for those who have placed any hope
in it of arriving at a solution of the
international economic puzzle"
Frances stubborn demands for re-
turn to the gold standard as pre-
requisite to all other accomplishments
at London have brought no results.
Sterilization, which for a few days
was reported possible, has again fallen
into the background. The uniting of
efforts to raise prices now occupies
first attention.
Business meanwhile is unchanged.
Unemployment continues to decline
slowly. Industrial activity is greater
than year ago, but there is no marked
activity The Bourse was quiet this
week.
Berlin Trading Lags.
Berlin.-Germany has been strongly
influenced by political developments
this week Securities have sagged as
a result. and industrial recovery Jagged.
Outstanding developments from the
domestic point of view were the de-
fiant moves by Chancellor Dollfuss OF
Austria to curb all Nazi activities
within his country Penalties for any
breach Of the chancellor's demands are
drastic: Germans are enraged. The
Dollfuss government represents, to the
Germans. the French influence in Aus
tria which prevented the Anschluss
two years ago and which now prevents
closer ties between the two countries.
Foreign trade returns for May. just
announced. show vast unexpected
Improvement. Despite tho various boy
colts against German goods, exports
are up II per cent. Imports increased
per cent. showing a reviving de-
mand for raw materials for industry.
Americans in Berlin are considerably
interested in recent WoolWorth adver-
tising There are more than 80 stores
in the Woolworth chain in Germany.
Several new stores which were to be
opened this Spring were not allowed
to open due to the Hitler ban prohib-
iting all new retail stores, but particu-
larly new department stores and new
units in a chain.
Woolworth Plea Issued.
From the first there has been no
special prohibition on Woolworth as
foreign store. Legislation has applied
equally to all chains. Woolworth, nev-
ertheless, is making definite appeal
for German sympathy in recent ad-
vertising Featured in advertisements
this week were the reports that the
Woolworth Co. bought more than
$1,000 900 worth of German goods for
consumption in Woolworth stores in
other countries; that more than 80
per cent of the goods sold in Wool
worth stores in Germany are of Ger
man origin; that Woolworth pays Ger
man landlords each year in rent more
than sl.000,0 900: that WoolWorth pro-
vides Jobs for more than 1000 German
employees.