Evening star., 1934-04-08
CHEERED
BY TRADE ADVANCE
RECORDED IN YEAR
Production Gains Average
5.3 Per Cent-0nIy Coal
Lags Behind.
Special Dispatch to The Star.

NEW YORK, April Gables and
radio dispatches to Business Week
give the following survey of business
abroad for the week ending today:
LONDON.-"There were reasons for
optimism in Britain this week. Board
of Trade data on industrial produc-
ton for last year showed that Brit
iSh industry as a whole had Speeded
up So per cent during the year, that
only coal-of the various categories-
was operating at smaller capacity at
the end of the year. Even this was
down only l per cent. Iron and steel
production, boosted by protective
tariffs and general recovery demand,
topped the list of individual indus
tries with a gain of "a per cent. Tex
tiles, responsible for large employ
ment, was ahead 5la per cent, with
rayon and jute sections in better con-
dition than cotton.
Statistical wizards insisted on
pointing out that Britain's gain of So
per cent compared with gains of 121
per cent in industrial output in Ger
many, of 159 per cent in the United
States. Alert industrialists retorted
that British output had dropped only
II per cent between 1929 and 1882
while German production was off 40
per cent and American 46 per cent in
the same period.
Automobile production is expand
ing steadily and nearly all motor
manufacturers are reporting record
Spring business. Registrations in
January, latest figure available, showed
a gain of so per cent. VauXhall Mo-
tors, controlled by General Motors,
more than doubled its profits last
year and was able to clear off seven
years of preference dividend arrears.
Rolls Royce. interested in airplane
engines as well as automobiles, in
creased profits and raised its dividend
from 10 per cent to II per cent.
Work on Liner Resumed.
more than shipbuilders are happy
over the renewal of work this week on
the giant Cunard liner which is being
built along the Clyde. After a delay
of two years, workers returned this
week to the task of completing the
huge liner. More than 5000 will be
employed in a few weeks on the task.
Another 5000 will be affected in the
demand for materials. The total
number of jobless in Britain declined
more than 10000 during March.
THE British treasury launched its
latest conversion this week and drove
a closer bargain with the investing
public than Washington in attempting
in its current move to reduce the cost
of loans Britain is offering $780,
100000, carrying per cent and issued
at SO. The issue will be known
officially as the "3 per cent funding
loan of 1959-69." 1t will allow a
saving of G1,OOO,OOOOOO in interest.
A part of the loan is being made
specially available to small investors
in f10 units to be distributed through
the post Offices. In the face of a
budget surplus, and with the pound
! dollar exchange rate at new highs
due to the rumor that the United
States will initiate, the loan sold we'll"
| Cheaper Mark Expected.
BERLIN.-"German generally ad-
NIT to themselves that recent drastic
moves to control imports have been
taken to prepare the stage for effective
bargaining with creditors at this
months meeting in Berlin. There is
nevertheless growing belief that the
move is probably one of the last
'convulsions before the country openly
goes in for devaluation of the mark
something which is bound to come
sooner or later. In private conversa-
tions a devaluation of 20 per cent
to 25 per cent was for some time dis
cussed. This, it was thought, would
restore Germany's competitive export
position. Lately, however, there is a
growing opinion that If it must be
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