Evening star., 1933-09-10
REICH TRADE DROPS
AS NAz|S CONTINUE.
IN Strong CONTROL.
Foreign Orders Off Sharply,
but Early Change Is
Held Unlikely.
GAINS ARE MAINTAINED
BY BRITISH BUSINESS
France Clears Way for Bargaining
With Other Countries on
Tariff Restrictions.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 9.-Cables
and wireless dispatches to, Business
Week give the following survey Of
business abroad for the week ending
today:
BERLIN.-German political interest
this week has been centered In the
return of Hitlers Brown Shirts from
the great party rally at Nuremberg.
More than 100000 supporters have
enthusiasm of 1.-The leader"
While the Nuremberg meeting was
wholly political, two or three observa-
tions should not be ignored by even
the most politically minded execu-
tiyes. Whatever the good or bad points
Of Hitler and his Nazis. they are in
Germany to stay for a considerable
period. They have the backing of the
mass Of Germans. They will probably
pull through a long, tough Winter be-
cause neighboring nations are only a
little better of. And Importantly, de-
spite the spreading boycott against
them. they are going to continue their
campaign against the Jews.
This last observation at the Nurem-
berg meeting is especially significant
that Germany's current economic situa-
ton is seriously affected by outside
reaction to this anti-Semitic movement
Foreign orders are declining alarmingly
part Of this Is due to the boycott.
A part IS due to the growing national
ism In Europe.
Hollands Stand Cited.
Hollands renunciation Of the world
tariff truce was more q protest to the
new German quotas restricting Dutch
sales to Germany than to restrictions
In any other great Dutch market.
Securities also are affected. During
the week. the Boerse has been dull
Is blamed largely on selling by for
eigners and by Jewish emigres, eager
to liquidate their holdings before they
leave Germany. The Boersen Zeitung
frankly admits that there is little In
clination on the part of the Nazis to
relieve these emigres of their securities
at high quotations" The market,
without official support, simply cannot
absorb the volume Of share being
dumped on 1t.
In the face of the startling decline
Of foreign trade a proposal has been
made to put all export trade in q ster-
ling basis and have it handled entirely
through a specially founded export
bank. This would make the German
mark only a domestic currency, but,
now with the special blocked" marks
accounts selling at a heavy discount for
all foreign business
There is a distinct economic slump
this week which the Nuremberg meet
ing has pretty well concealed from the
casual observer. German executives,
watching the weeks reports anxiously,
are not happy over the outlook.
British Gains Maintained.
LONDON. - Holiday makers have
been pouring back into London this
week. but business is not yet free from
the holiday spirit. Stock markets have
maintained the abnormal activity which
characterized them late in August, but
other business Is not yet swinging along
at full tilt. Industrial activity for the
second quarter of 1888, according to
the official index just published, was
IL per cent greater than In the first
quarter Of 1888, and II per cent great
er than In the second quarter Of 1892.
In view of the new sales drive by
motor car makers, the figures for pri-
vate car registrations in Britain are
Of special interest. For the nine
months ending in June. registrations
totaled 142,859, compared with Ill, ,987
in the same period Of the previous
year. II the new registrations are
maintained at the same relative level
for the three months, ending September
80, they will bring the total to 182, ,489,
which will be a record which compares
with 143,053 last year, and with 1877
SIT In the previous record year ending
in September, 1929. In an analysis
Of horsepower, there is no question
that the trend has been toward cheaper
models. Average horsepower in the
present nine months has been 116,
compared with IL year ago, and 1873
in 1929 The Austin Co. now is be-
lieved to account for more than quar-
ter Of the total British sales output.
French Policy Clear.
PARIS.-France pretty definitely de-
fined her foreign trade policies this
week. Beginning October l. France,
instead of allocating entire quotas on
various products. will allocate only one
fourth Of the quota on the old per-
centage basis. The remainder will be
held in reserve. AS other nations seek
to sell to France, the Paris govern
ment will try to drive bargain. As
fas as possible, the French are going
to make it an eye-for -an-eye trading
arrangement: If you buy 500 worth
of French goods, I'll buy 500 worth
OF your goods. France, almost always
selling less abroad than she buys, has
a sharp bargaining weapon in this ar
rangement.