Evening star., 1934-03-25
Orders From Both Russia
and China Create Stir
in Markets.
FRENCH PRESS STARTS
ATTACK ON BOARDING
Dutch Loan Taken as Indication
of Apprehension at Home
Over Situation.
Special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, March 24.-Cables
and radio dispatches to Business
Week give the following survey Of
business abroad for the week ending
| today
British business recov-
cry is strikingly reflected in the coun-
try's iron and steel industry. Five
more furnaces were blown In during
February, bringing the total to 80.
Daily steel ingot production increased
7.8 per cent, pig output jumped 4 per
| cent. Sir Arthur Balfour, in a recent
statement to a small group in New
York, is reported to have declared
that the British steel industry faces
a scrap shortage of about one million
tons
stock markets have rallied from
their first shock, and prices are firm
following further encouraging reports
from large industries. Chemical, tobac-
CO. and motor shares are in demand
Oil and rubber shares are firm.
Foreign orders created a stir in
the market this week. From Moscow
three big British firms have secured
order for steel tubes worth fl 100000,
with an option of an additional 81 ,000.-
900 later. Manufacturers recalled this
week that Russia. according to terms
Of the recent Anglo-Soviet trade pact,
agreed to increase orders in Britain
or expect to lose at least a part of
the favorable balance of trade which
it has enjoyed with England for many
years.
ALSO received this week by the
steel industry was an order for 10000
tons of rails for the Canton Hankow
Railway in China, and another for
1000 tons of rails for the Shantung
railways both for June delivery. In
this case also there is a probability
Of further order. possibly for as much
as 100000 of machine TOOLS"
France Fights Hoarding.
PARIS-"Condition in France are
less favorable this week, without any
new factors having developed.
Internal boarding has developed to
the point where the press is undertak-
ing campaign to drive wealth back
into circulation. The announcement
this week that the Dutch. through
MendelSSohn & Co. of Amsterdam.
have undertaken TO place 100,000,000
forms worth of 3-month French
treasury bonds on the market may
have been engineered with the in
tention of reviving French confidence
in the franc, but it is at the same time
an indication of the apprehension
at home over the national situation.
Contributing to the problem of
national finance is the new announce
ment from the government that it
will again attempt to aid the farmer
in disposing of a bumper wheat crop
by offering an export bounty. Tax
payers are alarmed and only a few
farmers expect much relief from the
offer. Every prospect now points to
third bumper wheat crop in as many
years. Last year, with a government
bounty of almost 81 (gold) a bushel,
French farmers were able to dispose
Of less than 100000 quintals abroad
out of a total wheat surplus of 40
100000 quintals. This is, in fact,
half the yearly consumption in France
Confronted with these facts, French
politicians blandly reply that they
have provided everything but the buy
erS for the surplus, and it will take
two or three months for the farmers
to realize that the situation is no bet
ter than 1t was last year."
Hitler Extends Plans.
notwithstanding dramatically in
a dump cart and surrounded by 5000
recently unemployed Germans now
attached to one of the great road
building projects not far from the
Austrian border, Chancellor Hitler
this week, on the anniversary of the
Day of Potsdam,' revealed his re-
employment program for the second
year of Hitlerism.
There were no new ideas; only
new funds to enlarge on plans which
have been worked more or less sue
cessfully in the last year. Another
$50 0,000,0 900 is set aside for loans to
young couples who wish to marry.
almost $120,000,000 is set aside for
tax loan certificates, which Is another
way Of providing German business
with credit of drawing more men into
jobs through the governments tax
refund subsidy to industrialists who
will re-employ men.
Finally, another $260,O0O,00 is set
aside for public works, largely road
construction.