Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-12-09
BRITAIN EXPECTS
YULE BUSINESS TO
REACH NEW HIGHS
Royal Wedding Launches
Most Liberal Spending
in Many Years.
new DEAL IN FRANCE
TO FOLLOW U. S. PATH
Flandin Hopeful Despite Signs of
Trade Crisis-Louvre Loss Is
First in 70 Years.
Special Dispatch to The Star.

Special Dispatch to The star
NEW YORK, December 8.-Cables
and radio dispatches to Business
Week give the following survey Of
business abroad for the week ending
today.
LONDON. -"Christmas shopping,
which got an early start this year
when the crowds which came up to
London to view the royal wedding
utilized the visit to buy in the capital,
is expected to touch new highs this
year. Spending is freer than in many
years. And in the PROVINCIAL centers
there is revival of the old custom
of pantomime casts in the shops and
in the social centers.
Aviation shares are buoyant on the
continuing pressure from the public
for better organization of civil avia-
ton. The Parliamentary Air Com
mittee has now taken up the plea and
proposed the appointment of an I'M
dersecretary for civil aviation, pro-
vision Immediately for more landing
fields and better ground organizations
at airportS.
London has been considerably
stirred over the announcement last
week of plan to form British COM
pany to go after cheap transatlantic
passenger business, and over the gov
ernment's firm opposition because Of
the subsidies granted to the Cunard-
White Star Lines. Project of the new
company was to purchase the three
old Red Star liners now on the mar
ket CPennland, Westernland and Bel
genland) and build two new vessels
before 1887. With these five ships,
it was proposed to offer $50 crossings
Although the project has been banned,
it has done good by emphasizing the
possibility of cheap competitive At
lantic fares"
PARIS.-"In the same week that
the great Paris department store
Louvre-announced the first loss in
10 years Of business, thus rejecting
the seriousness of the economic crisis
which has finally reached France, and
control of the great Citroen automo-
bile works passed to creditors, Premier
Flandin told his fellow countrymen
over the radio that sdehation in
France is nearly over that France
must work by every means to adjust
her internal production and consump-
ton in such way that all producers
should reap equal benefits that agri-
culture will be regulated as severely
as industry for the good of the coun-
try so that our gift to poor children
can be cheaper bread
"Flandin's new deal for France will
frankly follow the example set by
President Roosevelt's N. I. r. A. In
dustries will be grouped under codes.
Production will be regulated. Credit
will be extended. with or without the
aid OF banks. Surplus wheat will be
purchased by the government through
a $500 million franc loan whose serv-
ice charges will be met with proceeds
from a processing tax of 7 francs a
quintal for flour, paid by mills.
Colonial trade will be pushed fol-
lowing great colonial conference now
in session in Paris. Foreign trade
will be encouraged in a series of new
trade agreements to be negotiated as
soon as possible. Soviet orders are ex-
pected to double following the trade
conference now in session. Special
credits are likely soon to finance Soviet
business"
Being at the debtor end
of the agreement, Germany's salts
faction over the Saar pact is registered
with little more reserve than in the
rest of Europe. The settlement Is,
nevertheless, the best bargain that
Germany could expect, and is an i'm
portant move toward the improvement
Of Franco-German relations and gen.
eral easing of European tensions. 1t
is also considered in Berlin a good
omen for the armament parleys.
Securities tended to react favorably
to the Saar settlement, but were held
back by the simultaneous announce
ment Of drastic new government reg
ulations Of the banking system and
limitation of dividends to per cent.
Banks are not to be ma, 'nalized. de-
spite a Nazi tendency in this direc-
ton in the last two years, but they are
to be strictly regulated by a central
government Office. Stock exchanges
will be reduced in number. Dividends
will be limited to per cent and the
balance of profits beyond this figure
must be deposited in the Gold Dis
count Bank, through the purchase of
government bonds. 1t is estimated in
Berlin that this regulation will bring
100000 marks into the hands of the
government for relief purposes"