IMPORTANT SCHEME

Evening Post, Volume CXXII, Issue 153, 26 December 1936, Page 14

IMPORTANT SCHEME

COMPENSATION BROKERS

(By Telegraph—Press Assn.—Copyright.) (Received December 26, 9 a.m.) LONDON, December 25. The "Daily Mail's" city editor states that important London financial in-1 terests have succeeded in evolving a scheme to facilitate trade by barter between Germany and the British Empire. An official announcement is expected to be made shortly. OTTAWA, December 24. Official opinion of Compensation Brokers, Ltd., is that barter with Germany will be more with the Crown Colonies than with the Dominions. ■ The Government has received no request for co-operarlon. Present trade with Germany is not | on a barter basis. LONDON, December 24. The "Financial News" understands that a new company called Compensation Brokers, Ltd., has been formed by two London banks to bring together business men in British 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 are being directed to encouraging barter trade between Germany and the British Empire, in which important factors are Britain's re-armament programme and Germany's need for raw materials. Many British merchants are unable to fulfil commitments,. especially iron and steel deliveries, owing to the precedence given 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.