Evening star., 1933-06-11
MARKETSSTRONG
ABROAD, DESPITE
PRElPARLEY LULL
London Exchange Follows
Wall Streets Lead With
Firm Prices.
FRANCE MAY ABOLISH
SURTAX ON EXCHANGE
Hitler's Four-Year Program Spurs
Enthusiasm in Germany and
Ends Many Worries.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, June 10.-Cables and
wireless dispatches to The Business
Week give the following survey of busi-
ness abroad for the week ending TODAY:
LONDON-BusineS has been quiet all
week due to the Whitsuntide HOLIDAYS
last week end and to excited anticipa-
ton over the World Economic Confer.
ence which opens in London Monday.
The tone remains good, however, with
the Stock Exchange more or less follow
ing the lead of Wall Street, and with
commodity prices firm or rising. Gold
mining shares were the only strikingly
volatile issues on the market during the
week.
Recent signs of trade recovery, par
ticularly in the distressed northern IN
dustrial areas. have been augmented
this week by the better bank clearing
figures and the unexpectedly good half
year report Of the Lancashire Cotton
Corp. In the case Of the cotton report,
1t Is admittedly due in part to reor-
gantzation economies, for directors are
still dissatisfied with the outlook for the
immediate future.
Markets Uncertain.
The commodity position continues to
be good, but the current rise is at
tributed almost entirely to the American
imitation program, with the result that
markets are uncertain. Rubber, tea,
and tin price advances are partially due
to renewed hopes for large-scale restric-
ton. Where statistics show increased
consumption, they are regarded more as
a sign Of necessity buying to cover stock
exhaustion than as any genuine re-
covery of demand.
PARIS-Rumors persist In Paris that
foreign exchange surtaxes are going
to be removed. Particularly In the
case Of Britain is this expected. Not
a few disguntled Frenchmen are de-
manding to know whether or not this
stipulation was made by London when
the recent 130-million advance was
made to the French treasury. The same
Frenchmen would have preferred to see
France abandon the gold standard
rather than accept this support from
London II strings were attached to II.
Economic conditions have changed
little during the week. Unemployment
has declined slightly. Iron and steel
output remains steady on fairly good
domestic demand, but competition for
exports Is sitter.
Hitler Bares Plans.
BERLIN-Hitler has announced the
first projects In his "four-year plan"
for economic recovery In Germany.
They are not spectacular, but they have
dispelled lot of executive worries and
created a fair amount Of public en-
thuSiasn.
with unemployment onacially abovs
five millions popular estimate Is seven
millions), Htler,s major aim IN this
first section Of the plan" is to get as
many men as possible back to work.
There are four schemes to create jobs,
and Hitler thinks one million men will
find employment when the plan gets
under way. .s,.
"a Backbone of the scheme is q pub
lie works program expected to absorb
400, 600 men,
(2) Industry win receive certain
of business resulting from this
public works demand and from the
slight increase in buying power.
CD A marriage premium" is being
offered to couples when the bride has
been q salaried worker for at least
six months and gives up her job to keep
more jobs for men-poSsibly 100000 In
a. Household servants can be count
ed as members Of the family when tn-
come tax Is figured. This Is expected
10 encourage many families to re-em-
ploy girls. It Is estimated that at least
800, 600 girls have lost their jobs be-
cause families have felt they could not
Keep servants during the depression.
Investors Cheered.
II Industrial and the general public
are pleased with the labor absorption
the investing public Is doubly
.heered by the announcement that bond
interest Is not going to be slashed.
Mortgage interest Is cut to ~ per
cent for the debtor, but the investor
will continue to receive 5h per cent,
he government making up the differ
ence
This puts an end to the uncertainty
which has persisted for some months
among bond holders who feared do
nestle interest rates would be slashed
10 2 per cent by decree. It Is VIC
ory for DR.. Hugenberg over the more
'adical NaI element.
He was supported by Dr. Schacht
who declared that cut to AZ per
,ent was the most the credit struc-
ure Of Germany could possibly stand,
md once more Hitler sided with his
financial expert rather than with party
riends.
These two favorable DEVELOPMENTS
lave given fresh impulse to business
md stirred considerable new confidence
n the government. Stock prices have
Arm during the week. Auto
mobile production continues to increase
More than $4,000 workers have been
e-employed since March.