Evening star., 1933-03-26
GERMAN BUSINESS
LOOKS FOR PICKUP
IN SEASONAL LINES
Stock and Bond Markets Ad.
vance Sharply After Victory
of HitIerites.
ROOSEVELT PROPOSALS
WIN FAVOR IN BRITAIN
French Industrial Gains Are Re.
ported, With Resulting Decline
in Unemployment.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 25.-Cables and
wireless dispatches to The Business
Week give the following survey of busi-
ness abroad for the week ending to-
day:
Berlin-Imperial regalia in old Ger
many'S most imperial Surroundings
Potsdam-marked Chancellor Hitler's
rise to the dictatorship of the Reich
this week. Almost absolute legislative
power, as well as control of the budget,
has been voted to the Hitler cabinet.
German business showed none of the
uneasineSs felt almost everywhere out
side Germany. Both shares and bonds
advanced spectacularly. Even shipping
shares were in demand on the prospect
Of indirect government subsidies.
Drive On Stores.
Department stores and chains Of
"one-price" stores (among which the
German Woolworth chain with its 80
units occupies first place. are having
a difficult time. Hitler no doubt cap
tured an extra million votes of inde-
pendent retailers by his promise to de-
clare war on department and chain
stores which are running the honest
retailer"
After the victory, his ardent ad-
herents did not wait for organized ac-
ton by the central government, but
went out Immediately for direct ac-
ton" Groups of the Nazi storm troops
picketed outside department and other
stores urging the Germans to Buy
German" and not to support Jewish
shops. In some cases. they took re-
course to less innocent means to pre-
vent the public from entering the be-
sieged stores. Finally, where tempera-
ment prevailed over reason, windows
were broken and fixtures demolished.
Facing this situation, many stores
preferred to close voluntarily" for q
few days. In some towns the police
ordered the closing of all department
and chain stores on the ground that
order and safety"
This direct action" on the part Of
Hitler's brown shirts raised q storm Of
protest not only on the part Of the
trade itself, but also in-the part of
supplying industries which faced can.
collation. of orders and Of labor unions
threatened by mass dismissals Of per-
Sonnel in the stores affected.
These appeals from disfranchised and
helpless trades did not fail to impress
Hitler who issued proclamations to their
followers through the press and the
radio-urging them to abstain from
such "disorganizing" actions which,
besides affecting innocent people. dis
victory Germany Is celebrating
The wave Of individual action is
receding. But the government will now
have to meet its promises, previously
stated, and take some concerted action
on this delicate problem. Apparently,
by way Of Introduction, department and
chain stores will be subject to q higher
trading tax" Ga tax levied in proper
ton to pay rolls) on top of the higher
sales tax which was imposed by Bruening
under NaI pressure.
Industrial activity is unchanged this
week, but there Is feeling in Germany
that the Spring pickup Is going to be
well above normal. Germans are
optimistically looking for new DEAL"
which Is going to do every one some
good
London.-British business has been
sensitive this week to developments In
the United States and in Germany.
Boom Distrusted.
The small boom in Wall Street which
followed the banking holiday was dis
trusted from the first. Besides this, the
British fear that troubles in the railroad
financial structure, and eventually in
insurance financing, will develop to mar
the present signs Of recovery in the
United States. This pessimism Is offset
by confidence in the policies of Presi-
dent Roosevelt. 1t already seems possible
that the World Economic Conference
has better chance for meeting during
the Summer and for accomplishing
something.
There is less dread over what Hitler
may do within Germany than over the
possibility that his nationalism will lead
to some major outbreak in Central
Europe. The change from Luther to
Schacht as head of the Reichsbank was
received calmly in London. DR.. Schacht
Is recognized as an able banker and he
has very recently assured foreign
bankers that he will back no currency
experiments in Germany.
Parist-The four-cornered Mussolinf
peace club" plan has received the OFF,
cial' cold shoulder of the French. Un-
like other international plans recently
evolved which called forth at least "ac-
cord in principle" or scme illusion of
international cordiality, the present
Italian plan Is suspected of being a
concerted attempt against the French
status quo principles under the disguise
of a European dove of peace
For the first time since October, un-
employment has declined, while numer-
GUS branches Of industry are reporting
better than expected conditions. Cotton
mills are especially active Some of them
have returned to 48-hour week, though
many Of them are working only 80 to 40
hours. The cost-of-living continues high.
however, and with wages contracting
there are rumblings of discomfort.