GERMAN SLUMP
Hitler To Take Drastic Measures FINANCIAL CRISIS Banks Ordered To Buy Up Shares By Telegraph.—Press Assn.—Copyright. LONDON, August 18. The Berlin correspondent of the “News Chronicle” says that Herr Hitler conferred with the Minister of Economy, Dr. Funk, the Minister of Food, Dr. Darre, and the financial expert, Herr Schacht, and decided on drastic measures to end the slump. He is ordering the banks to intervene and buy up shares flung into the market. It is reported from Berlin that, contrary to expectations, industrial shares rose slightly when the Bourse opened, and a general improvement continued throughout the day.
The Berlin correspondent of the “Daily Telegraph” says financial circles are not inclined to regard today’s slight recovery on the Bourse as the turn of the tide. Company reports in the past few days help to explain the slump. For instance, the Friedrichschafen CogWheel Company, which last year paid 8 per cent, on smaller profits, announces no dividend as all the available cash has been swallowed up by demands under the four-year plan and the needs of private investors must yield to those of the State.
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Dominion, Volume 31, Issue 278, 20 August 1938, Page 11
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187GERMAN SLUMP Dominion, Volume 31, Issue 278, 20 August 1938, Page 11
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