Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-18
REVEALS
LOWEST J0BLESS
TOTAL SINCE 1880
Smallest Number of Idle
Ships Since 1929 Also
Held Recovery Sign.
ANXIETY STILL FELT
FOR GOLD CURRENCIES
Guilder and Franc Believed Near
Fresh Crisis-Ethiopian Dis
pute Watched Closely.
snecial Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 17.-Cables
and radio dispatches to Business Week
give the following survey of business
abroad for the week ending today:
LONDON.-"Then number Of insured
persons employed in Britain now is
at a new peak of 10000 900, an in
crease of 10000 for July. Unemploy-
ment now stands at 100000, lowest
since 1880.
las another indication OF business
recovery, only $50 ships of total of
$4,000 tons are IDLE, lowest number
OF empty bottoms since 1929.
stock markets are maintaining the
marked activity of the last few
months, and prices are firm-all this
In spite of the exceptional holiday
exodus from the capital. Spending
on travel is more lavish this year
than since 1929. The general mood
Is buoyant. with anticipations Of strong
trading during the Autumn and
Winter Only anxieties are the out
come of the Ethiopian dispute
and the fate Of the guilder and franc,
both Of which are believed to be ap-
preaching a fresh crisis. Britain's
general election date is still undecided,
but there is increasing pressure for
November balloting.
Many department stores have an
nounced bigger second quarter divi-
dends, or. like Harrods, have main
tanned the previous rate. Even bet
ter results are expected as business
continues to recover.
Mote issue Is at new high level
for the latest week reported being
100 million pounds greater than for
the comparable week a year ago."
Paris DEGREES Mount.
PARIS.-"Decrees follow DEGREES.
This week there were SO new ones. all
aimed primarily to cut the cost Of
living. And there were cuts in %
import quotas, designed. as much to
revive foreign trade as to cut the cost
of living. Items most Importantly
affected by the import quota reduc-
tons include cotton hosiery. plows,
and razor blades.
1T should be noted abroad that the
Laval government is very much OPP
posed to the trade quota system. 1t
IS the opinion of the small group of
special advisers which surrounds the
premier that customs duties, however
high they may be. are always pref
cradle to import prohibitions. Rumors
that the whole quota system would be
abandoned have always stirred SO
much emotion among manufacturers
that the idea is not likely to be
adopted at one time. There is no
doubt, however, that the import quota
system, like the international clear
ing agreements, Is on the decline
Ultimately, they will disappear.
THE wheat crop is slightly below
consumption demands, but old stocks
are depressing prices. Compared with
May, wholesale prices in July were
down 10 per cent, retail prices only
S per cent.
Industry is seasonably slack. Re-
Idn SdlcS, OIL LIE Quiet IldIlQ, dIlQ
travel lines are more active"
Danzig Gives Up Fight.
BERLIN-"The Danzig Polish
compromise over the customs war
means the surrender by Danzig on all
essential points. and implies an early
introduction of the Polish currency
into the Danzig Free City territory.
The London agreement conceding
to Chilean nitrate interests an annual
export quota of IA million tons COM
pletes the world nitrogen sales agree
ment for another three years.
THE Reichsbank subsidiary, the
Gold Discount Bank, Isl developing
into a major factor in short-term
recovery financing: has absorbed $780,
100000 marks of employment bills in
the last two months, proportionately
relieving the Reichsbank's discount
portfolio The number of jobless work
ers was further reduced by 1926 in
July, but the leveling of incomes and
rising prices are mainly responsible
for noticeable lowering of the stand
ard of living, already manifested in
the declining volume of retail sales.