RUHR RESISTANCE.

New Zealand Herald, Volume LX, Issue 18455, 19 July 1923, Page 9

RUHR RESISTANCE.

CRISIS v DRAWS NEAR.

INDUSTRY RUNNING DOWN.

MENACE OF UNEMPLOYMENT

By Telegraph— Association—

(Received 9.8 p.m.) A. and N.Z. • LONDON. July 17.

. The Dusseldorf correspondent of the Daily Telegraph reports that what appears to be a formidable economic crisis in the Ruhr is practically certain within eight or ten days. The '■ great foundry owned by the Bochumer Verein, employing 20,000 workmen, has closed and the Krupp Steel Works, employing 4000 workmen, , have also ceased. The textile trade is seriously affected owing to the fall of the mark. Manufacturers are unable to purchase English coal and declare that the situation ;3 so grave they will be compelled to close their mills.

With thousands thrown out of work there are doubts whether the authorities will be able to keep the huge number of unemployed quiet. The German Government has met the situation up to the present, but it is now grave.

Official statistics issued in Cologne show that the cost of living has doubled in the period from June 20 to July 11.

BLOCKADE EXTENDED.

ANOTHER TEN DAYS.

REFUGEES TURNED BACK.

A*, and N.Z.

LONDON. July 17.

The Berlin correspondent of the Daily Express states that the blockade of the occupied territory, which was expected to end on Sunday at midnight, has been extended for ten days. Thousands of German women and children, finding that there were no trains, attempted to walk across the frontier, many with their belongings in handcarts. The French sentries, however, allowed none to pass.

GOODS TO FLOOD WORLD.

PRODUCTION IN RUHR.

A DISTURBING OUTLOOK.

Times. LONDON. July 17. Sir Basil H. Thompson, formerly Chief Commissioner of Police, in a special article in the Times, draws attention to the industrial danger to other countries when the Ruhr impasse ends. Many German factories have continued to work full time throughout the occupation, making for stock. Factories and storehouses are blocked with all kinds of goods, and some day these are going to be let loose on the market at a price at which no manufacturer will be able to compete. It would be difficult to mention the kind of goods not being produced. The French have scarcely commandeered anything but coal and chemicals, but there are already indications that French firms hope to secure a reversion of the products at extraordinarily low prices, and axe prepared to dump them on the world. If the French do not the Germans will. Unless all are ' heaved into the Rhine there will be a serious disturbance of trade. One firm alone has been employing 68,000 men continuously, imagine what that means in output.