BEAU GESTE.

Auckland Star, Volume LXII, Issue 166, 16 July 1931, Page 7

BEAU GESTE.

FRENCH CONCESSION.

Unconditional Pavments to be

Suspended-

CFBEAT RELIEF TO GERMANY

(United P. A.—Electric Telegraph—Co^yrirnt)

(Keceived 11.30 a.m.) LONDON", July 1-5. It is officially announced in Paris that France to-day telegraphed to the Bank lor International Settlements foregoing the unconditional annuities due from Germany. This sesture is regarded as a most helpful influence. Apart irom the main question which faced the German Government there was the monthly instalment of £33,000.000 for the unconditional annuities, which was dne to be deposited with the Bank for International Settlements to-day. Tbotign the Government appeared to have abandoned hope at present of a loan from France, "Germania," the organ of the Brnening party, appealed to France to assume the lead now in regard to credit without making petty political demands. Such action, the paper says, would in.' 1 be lorgotten by Germanv. Newspapers compare the festivities of France's national day with the glum depression in Germany. Following on the return to London from Basle of Mr. Montagu Norman, Governor of the Bank of England, who had attended the meeting of the directors of the Bank for Jnternational Settlements with Dr. Luther, president of the Eeichsbank. a secret meeting of the leaders of the money market" was held at the Bank of England. "The Tunes'' said all the indications pointed to the conclusion that unless the demand for political guarantees was abandoned, there would result a complete impasse, which would imperil the whole economic stability of Europe. The '"Daily Herald" says France has pnt up her terms, and she now demands the disbandment of the Steel Helmets. The German Government is reported to have advised the United States that Germany ,is willing to suspend the construction of a second pocket battleship if the other nations make similar concessions. The directorate of the Eeichsbank has announced that it has allocated £30.000,000 to business houses for wages at the week-end. The "Giomale dTtalia" publishes the statement that Italy is willing to coocerate hi saving German finances.

DARK HOURS.

Pessimism of Dealers on Paris Bourse. SELLING OEDEES PLENTIFUL. * (Received 1 p.m.) , . - PARIS.. July 15. Thstßourse, reopening after four days, is faced with an accumulation of selling orders, "but there is no panic, though all quotations fell heavily. Dealers are expressing pessimistic views on the future of Germany.

MORE HOPEFUL.

AMERICAN OUTLOOK

(Eeeeived 12 noon.) WASHINGTON, July 15. At the White House on Wednesday, it was regarded that the German situation was much more hopeful.

BANK RATE RAISED.

CHANGE IN" BERLIN.

CSeceived 12,30 pjn.) BERLIN, July 15. Tie bank rate lias b€en raised to 10 per cent.

STOCK MARKETS.

DULL AND HESITANT.

(British Ofacial Wireless.)

(Received 11.-30 a.m.) RUGBY, July 15. The stock markets continue to be dull aJid hesitant pending news from the Continent of the progress of the German financial crisis. The mark was slightly weaker. ■