Evening star., 1934-10-07
BRITISH EXPRESS
DOUBTS DESPITE
ROOSEVELT TALK
Industry Sets Faster Pace.
Rush of New Issues
Expected Soon.
FRANCE is WORRIED
BY BELGIAN TROUBLES
Gold Bloc Leader Watches Threat
to Smaller Nation, but Home
Sentiment Improves.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, October 6.-Cables
and radio dispatches to Business Week
give the following survey OF business
abroad for the week ending today:
LONDON. - THE British were
disappointed in President Roosevelt S
radio address. They had hoped for
definite answers to recent criticisms
on monetary policy. and official infor-
nation on administration and new
N. r. A. plans, agricultural tariffs and
foreign affairs. His announced inten-
ton to convene a national conference
of capital and labor to work out the
truce plans is the one encouraging
note in his speech as far as the British
are concerned. Talk in London this
week indicates that most people feel
that he is leading the United States
toward state socialism following in
f1ation.
THE tone of British business is ex-
cellent since the settlement of the
dispute among Welsh coal miners and
operators removed the only serious
threat. Half-year revenue figures
when they were released were salts
factory. Customs and death duties
are furthest ahead of budget estimates,
and excise taxes are tagging because
of too optimistic estimates OF beer and
spirits consumption. All trades re-
port more spending and the London
luxury trades are enjoying small
BOOM Prospects are for an even bet
ter year in 1885 when King George S
25-year jubilee is celebrated.
Iron and steel has entered the last
quarter buoyantly and already at
levels equal to the 1929 peak. All
plants are busy with fresh inquiries.
The motor boom has brought big de-
mand for special steel parts in which
Ford, with his big furnace at Dagen-
ham, is participating. Rail trafic Is
expanding.
Leading company results are en-
couraging, with the full effect of
business revival, which started year
ago, beginning to be traceable in
profits. So far. plant extensions are
mainly being financed from resources.
but London expects a rush OF new
issues SOON
Cabinet Again in Danger.
PARIS.-"France as the nucleus OF
the gold bloc, has been concerned this
week over the financial and economic
difficulties in Belgium. With a popu-
lation equal to scarcely one-seventh
that of France, Belgium has as many
unemployed as France. Even with the
dictatorial powers granted to the gov
ernment in July, it is proving difficult
to bring the Belgian budget into bal
ance, with the result that the position
of the cabinet is again in danger.
within France. business is un-
changed though public sentiment is
generally better than it was a month
ago. The 10-billion-fra public
works program started this week with
the beginning of construction in Paris
of buildings for the 1887 exhibition.
About two and quarter billion francs
will be spent in the Paris district. A
slightly larger amount is to be in
vested in transport improvement, in
cluding equipment for night flying on
French lines, extension of the Paris
subway system. and installation of a
new and improved safety on French
railways. More than one billion
francs will be spent on local roads,
electrification in rural districts and
Improvement of the water supply in
farming areas.
"a new treaty was signed with Can
ada, during the week, which will allow
concessions on the entry into Canada
of certain commodities, chiefly wines.
liquors and perfumes, while Canada
is given the French minimum tariff on
wheat, oats, barley, rye. whisky. lead.
zinc, fresh Holsters, certain timber and
chemical products"
Reich Control Studied.
BERLIN-"The economic situation
in Germany has changed little this
week, the new import control scheme
occupying all attention.
Theoretically export industries are
to be given first consideration in de-
livery of raw materials Actually, there
is a lack of raw materials Of the quail
ity Germany needs if they are to
maintain their competitive position in
export markets. And there are fears
that available import supplies will not
meet demand.
"Supplementing this import control
over foreign exchange, DR.. Schacht
this week announced that Germans
would not be allowed to take more
than 10 marks out of Germany. Since
the mark is worth only about 40 cents,
this makes it practically impossible
for Germans to travel outside their
country.
Industrial activity is holding up
well. August index figures, just re-
leased, show that production is main
tanned. Retail sales were up Is per
cent, due largely to panic buying of
textiles in preparation for cold
weather.
Developments in Rumania and
Yugoslavia, indicating that Frances
hold over these satellites is weakening,
have not gone unnoticed in Berlin.
Though outwardly these nations are
simply working in closer cooperation
with Poland, Germans realize that this
ultimately means closer economic CO.
operation with the Reich"