Evening star., 1936-02-09
BRITAIN PREPARES
CURB FOR COTTON
TEXTILE INDUSTRY
Measure to Reduce Surplus
Mill Capacity Backed
by Owners.
BOARD WOULD PURCHASE
FOURTH OF SPINDLES
Funds for Scrapping Would Come
From Tax Levied on All
Remaining Mills.
Special Dispatch to The Star.

special DlSpatcn TO Tne Star.
NEW YORK, February 8.-Cables
and wireless dispatches to Business
Week give the following survey of
business abroad for the week ending
today:
LONDON.-"Britain is planning to
regulate the cotton spinning industry
along lines similar to the United
States NJ r. A. regulations. The cot
ton spindles bill, which has passed a
second reading in the House of Com
mons, is designed to rid Britain of
its surplus mill capacity.
1T would create a spindles board,
which would be provided Immediately
with funds with which to buy up,
to roughly one-fourth of all British
spindles.
THE loan would be repaid by levy
ing tax on all remaining textile
mills.
"Scrapping will take place during
the next two or three years. Repay
ment of the loan will not be required
for IS years.
hppcdicu lUT heueI.
"The British textile industry was
helpless in the face of japanese COM
petition and had appealed for financial
relief. The government finally pro-
posed the legislation. which now seems
likely to become law.
The British bill has the backing of
the textile mill owners anu the strong
opposition of labor, which is thinking
of the workers who will lose their jobs
when fourth of the British mill ca
pacity is closed. In the United States
the Ellenbogen bill is designed to regu-
late hours, wages and production. but
not to wipe out great section of the
industry, and labor is supporting it,
while the owners are opposed to the
regimentation feature"
Paris Markets Active.
PARIS.-"Paris has been a scene of
feverish activity all week. Economi-
cally, markets have been active and
prices rising. Share prices gained as
much as Is per cent for some stocks.
Only bonds have been weak. This in
dicates the conviction of the public
that imitation is ahead and that now
is the time to prepare for it.
Politically, France has been en-
gagged in intensive negotiations with
diplomats and kings. representing most
of the countries of Central and South
eastern Europe, in a new effort to
revive the system of alliances which
will prevent German expansion through
Austria to the east.
Russians Invited.
Russia has been invited to take the
place of Italy as a guarantor of the
new Danubian bloc, but has not yet
accepted.
France expects to fill all of her
needs for coffee in the colonies by the
end of 1910. Behind the inducement
Of high protective tariff France has
encouraged several of the African
colonies to turn to cultivation of coffee.
1t is admitted that within the next 10
years the same protective system is
expected to foster rubber production
in Indo-China adequate to meet all of
Frances domestic needs"
Berlin Is Tense.
BERLIN.-"Berlin is tense this week.
Not since the Italian campaign started
in Ethiopia and split old European
alliances wide open has Germany felt
so keenly the threat of 'encirclement
by governments antagoniStic to Ger
man expansionist ambitions.
There are no signs that Germany's
foreign trade is going to expand this
year. For the first time in many
months Germany's heavy industries
are suffering a relapse in activity
greater than the relapse in the con-
sumner goods lines. This is proof of
the slowing down of public expendi-
lures on work-making projects"