Evening star., 1934-12-23
Nearly a Thousand Extra
Trains Take Shoppers
Into London.
FLANDIN POLICY SPURS
CONFIDENCE IN FRANCE
Holiday Trade in Reich Is Best
in Several Years Despite
Political Tensions.
Special Dispatch to The Star.

opcClal DlSpatcn 70 Tne star.
NEW YORK, December 22.-Cables
and radio dispatches to Business Week
give the following survey of business
abroad for the week ending today.
LONDON.-"England is on a spend
ing spree this Christmas. Nearly a
thousand extra trains are running the
crowds into London and other metro
politan centers to do Christmas shop
ping. Rail passenger traffic is already
$4,000 above the figure for last year.
Airmail loads have reached record
highs, and note circulation Is far
ahead of last year. Record employ
ment to handle this rush Is creating
new buying power.
THE market for gilt-edged securi-
ties showed new strength this week on
the latest announcement from the
Treasury that cheap money is a vital
part Of government policy It is now
expected in London that there will
soon be q new government Offering of
f200, ,000, 900 to meet maturities next
April and the conversion of other out
standing issues to rates in line with
the present reduced interest levels.
Completion Of this financing will prob
ably turn fresh volume of idle funds
toward industrial investment"
France More Confident.
PARIS.-"Every one in France, ex-
cept possibly the farmers, is looking
forward to Christmas with more con-
fldence than at any time in several
years. The new premier is turning
out to be something of the strong
man" France wants. He has forced
through the chamber a bill which
frees the government from its expen-
sive policy Of supporting the price of
wheat. Other similar economies are
likely soon to reduce the cost of liv-
ing. The more hopeful expect 1t to
drop as much as 10 per cent in the
next few months. His cabinets for
eign policy is firm but conciliatory.
His thorough knowledge of economics
has won the confidence of executives.
"The true budget position is likely
to be revealed soon, and may cause
some dismay. The Senate committee
investigating tax income in recent
months. has intimated that they are
down more than was publicly admit
ted in the recent budget discussions
and that the deficit for 1885 may run
as high as 4,000, 900, 900 francs instead
Of the half-billion mentioned last
month. Treasury borrowing, it is esti-
mated, will run as high as 12,000,-
00o, 900 francs"
Reich Business Scars.
BERLIN. Religious and political
tensions in the news coming out of
Germany probably are hiding from
the world the fact that Christmas
trade this year is brisker than for sew
eral years. The boom is not confined
to Berlin. Crowds are thronging to
every big shopping center. Money is
circulating in vastly increased volume.
Only textiles are selling in slightly
smaller volume than a few months
ago. This is due to the fact that the
public is no longer panicky over the
prospect of a clothing shortage this
Winter. The strict regulation of i'm
ports has not been lessened, but the
public has more confidence now that
domestic stocks of raw materials are
larger than were at first believed and
that imports of such an important
item as cotton will be facilitated.
"The German steel industry, in fact,
is prospering, and dividends are being
resumed by some companies, though
on q modest scale because Of the Nazi
ban on dividends above 6 per cent.
1.-THE great Krupp works Is booking
q number of foreign orders on bar
ter basis. One of the largest is a
50, ,000, 900 order from Turkey for rail-
road materials, steel, machinery and
electric equipment, for which payment
will be made in Turkish hides, fruits,
ores and wool, which will be utilized
by the Reich. South American and
Far Eastern business has been booked
on q similar basis"