REPARATIONS

Hawera & Normanby Star, Volume XLII, Issue XLII, 2 May 1923, Page 5

REPARATIONS

«■■ » — THE NEW OFFER,

HERR CUNO BUSY.

UNEASINESS ON BOURSE.

BY CABLE—PEEFB ASSOCIATION—COPYBIGHT BERLIN, May 1. It is now considered doubtful if th* German note covering a suggested solution of the reparations question will be despatched before the week-end. The Federal State's deliberations on Tuesday may easily extend over two or three days, while a more significent factor is the eleventh hour intervention of Herr Ebert. He, after giving most serious attention to Lord Cur^iv s speech, left matters largely to Herr Cuno, and during his absence from Berlin his communications with Herr Cuno were mainly made by telephone. Herr Ebert's emergence is due to the arrival in Berlin of neutral personalities from Paris, who stated that while French opinion is desirious of an understanding—M. Poincare also was not disinclined in this direction—ni settlement was possible which looked like defeat for France. Herr Ebert is be- , lieved to be influencing the note, which •vfttflows strongly the views which these personolities. Herr Cuno was feverishly busy during the week-end. He held conferences with ambassadors, including Mr Houghton (the American. Ambassador), who said he had received a momentous communication from Washington, which will be among the recipients of the note itself. There is reason to believe that Borne, through her ambassador, advised the omission of the Ruhr evacuation issue from the note entirely, or alluding to it in terms which would suggest the advisability of reaching an understanding. Both Berlin and Paris are indulging ; in an. orgy of speculation respecting the contents of the note, but all this is valueless. Paris opinion, however, is firm on one point, and that is that the ■ note will be acceptable. Foreign opinion, it is said, should be prepared for the failure of the German proposal and the continuation of the present situation for some time to come. There is an uneasy feeling on the Bourse, attributed to the probability of this summary rejection. Financial circles contemplate another shake-up in the mark; but cherish the hope that if politicians fail a solution may be found by French and German industrialists. The uneasiness on the Bourse is increased by the Eeichbank announcement that more of its gold is being sent abroad, and that it has already pledged for borrowing purposes a portion of its gold reserve in foreign banks to the value of eighty five million gold marks. A further cause of disquitetudo is.ithe publication of the fact that neW paper money to the value of 258 thousand million marks was issued in the third week in April, bringing the face value of the notes in circulation to 6096 milliards.—Aus.-N.Z. Cable Assn. ,