BARTER TRADE

Press, Volume LXXII, Issue 21975, 26 December 1936, Page 11

BARTER TRADE

♦ LONDON BANKS FORM COMPANY EXCHANGE OF GOODS # WITH GERMANY EMPIRE raw .materials fob STEEL (UNITED PRESS ASSOCIATION—-COI - 1 (Received December 25, 9.30 p.m.) LONDON, December 24. The city editor of the "Daily Mail” says that important London financial interests have succeeded i.. evolving a scheme to facilitate barter trade between Germany and the British Empire. An official announcement is expected shortly. The “Financial News ' understandthat a new company called Compensation Brokers, Ltd., has been formed by two London banks to bring together business men in Britain and foreign countries interested in barter trade. The company will act purely as a brokerage concern, effecting introductions between interested parties on a commission basis. It will not finance transactions, and there is no question of loans. The company's first efforts will be directed to encouraging barter trade between Germany and the British Empire, in which important factors are Britain’s rearmament programme, and Germany s need 10. raw materials. Many British merchants are unable to fulfil commitments, especiaily from iron and steel deliveries, because of the precedence given to armament orders. These commitments, it is felt, could be fulfilled in Germany against the delivery of Empire raw materials. The British Government has been kept informed of the company s plans. OFFICIAL OPINION IN CANADA MOST OF TRADE EXPECTED TO BE WITH COLONIES (Received December 25, 11.25 p.m.) OTTAWA. December 24. Official opinion of Compensation Brokers, Ltd., which has been organised in London, is that barter with Germany will be more with the colonies than with the Dominions. The Government has received no request for co-operation. Canada’s present trade with Germany is not on a barter basis.