Evening star., 1935-07-28
SLOWER PACE SET
BUT BRITISH TRADE
KEEPS FIRM TONE
Flood of New Capital Issues
Continues Unabated.
War Still Topic.
ial Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July 27.-Cables and
dispatches to Business Week give the
following survey of business abroad
for the week ended today:
LONDON.-"The heat and the peak
of the vacation period (Which comes
in late July and in August in Eng
land) is causing some Slackening OF
business activity in Britain, but the
tone is remarkably firm. and there is
no let-up in the flood of new capital
issues. Londons electric transport
loan of $4,000 000-which has gov
ernment backing and is the first of
further extensive public works de-
velopments was heavily oversub-
scribed. Further big issues will be
offered soon, including f13,000,000 for
Australia.
Lloyd Georges dramatic appeal
for his new deal has failed to i'm
press the coalition government now
in Office. The government contends
that recovery is now making steady
advances at a healthy pace and that
there are plenty Of funds available
to advance sound new undertakings.
To embark on the vast spending pro-
gram advocated blythe war-time
prime minister would be foolish in
the eyes of most officials. Undaunted
by this rebuff. Lloyd George has an
nounced that he will lead a new party
in the coming general election cam
paign. This is bound to draw some
votes from the national government
constituency, and in this way play
into the hand of the Labor party.
"War continues to be topic of con-
versation in London. The end OF the
silver jubilee celebrations, with the
extensive naval, military and air re-
views, has focused attention on the
dangerous obsolescence of Britain's
equipment and is likely to bring more
votes to the arms moderIiZation'
candidates"
LavaPs Plans Well Received.
PARIS.-"Laval's emergency econ
omy DEGREES have to date been COM
paratively well received in France,
though the program is so far reach
ing its ultimate success cannot yet be
definitely determined. There is al
ready an opposition, but so far the
government has been able to control
it. The immediate cuts in rentes (by
decree) will do much to compensate
for the loss of salary among govern
ment workers and other moves to cut
the cost of food essentials are ex-
pected soon. Meat is next on the
list, the government having an
nounced this week that it would at
tempt to cut costs to consumers by
building local slaughter houses as
paying public works projects. and on
this new base to reorganize the entire
meat redistribution system"
1.-The slump on the Bourse this
week was directly due to the situation
in Holland. The present government
is pledged to maintain the Dutch
guilder on its gold base, but is run
ming into trouble carrying out its de-
flation program. This caused some
uneasiness over the ability Of the
cabinet to handle the situation. With
only Holland, Switzerland and France
remaining on the gold standard, the
threat of any one of them depart
ing from it is bound to influence the
Others
Reich Trade Suffers.
BERLIN.-"BusinesS Is suffering
from the renewed purging which the
more radical wing of the NaI party
is carrying out now, especially in the
capital. At the same time the press
reflects an emphatically anti-capital-
iStic turn on the part Of the Nazis.
while business Is worried over
probable repercussions from these de-
velopments, the stock market con-
tinues active except for the slump in
the shares of the two great North
Continued on Third Page.)