HERR HUGO STINNES

Otago Daily Times, Issue 18455, 17 January 1922, Page 6

HERR HUGO STINNES

«w» ■ ■ MYSTERY OF HIS LONDON VISIT. i RUSSIAN RECONSTRUCTION. NEGOTIATION OF A FOREIGN LOAN. (From Our Own Correspondent.) LONDON, November 30. Herr Hugo Stinnes, the German industrial magnate, has been to London. His visit has provided food for speculation in London, Berlin, and Paris. Most journals have given a reason for his visit, but nobody seems to have, any authentic information regarding his intentions in this country. Apprehension, • too, is mingled with curiosity. It is not that British good faith is impugned in any responsible quarters, but it s ' is impossible to forget the brusque gestures of the German "mystery millionaire " at the Spa Conference, just as it is also impossible to ignore the prevailing sentiment that Herr Stinnes is the ringloader of a plot. to induce the bankruptcy of the Reich. The Wast sensational reasons assigned to Stinnes' appearance here are that he sought to extend his influence in shipping and that he has his eye on Welsh coal. in pre-war days this German magnate bad very extensive connections in the South Wales coal trade, and it is an open secret that he aspires to fill the place in the German shipping industry that was occupied by the late Herr Ballin. No doubt very energetic attempts are being made to restore the German merchant marine. Owing to low running costs German shipping could compete very successfully providing the ships could be obtained at a reasonable figure either bv charter or The coal trade has not long remained in American hands, and Herr Stinnes. as .well as other people, can see that Great Britain is going to regain her pre-war position of coal-sup-plier to Europe. The Welsh coal trade is not governed by sentiment; thus it is quite on the cards that Herr Stinnes and, his numerous subsidiary concerns will once' more bulk largely in the receivers of British coal duxinjr the next year or so. " It is known that Hen- Stinnes is seeking to acquire more tonnage for his shipping enterprises" (says the Financial Times), " and no doubt he has been able to pick up all he wanted at quite a modest figure. There is not much fear, however, of him or anybody else obtaining for Germany or any othor Continental Power anything that the United Kingdom shipping interests cannot,do without. The Government has often been blamed for dumping ex-enemy, shipping on the market when 'freights'were wealc, but the German tonnage that is now British would have been a very serious menace to our shipping con.- ; nections had it been allowed to remain in j German hands and run at cut-throat rates, j The German-American shipping alliance I has turned out to be a fiasco, and following j on the adoption of some scheme of dis- j armament it is not at all unlikely that a working arrangement in regard to mer- j chant shipping wili be come into force with Britain, American, Japanese, and French interests uppermost." REPARATION PAYMENTS. From Berlin comes the statement that Stinnes' visit has caused considerable curiosity and speculation. Although i the reply of his acquaintances to any inquiry' as .to the object of his visit in invariably that of "private affairs," the generally accepted view in financial circles is that he went to London to see what could be don© by way or raising l a foreign loan to meet the reparation, payments. Some support is given to this view by a statement of the Chancellor that Germany will try to raise the money abroad by loan, and that to do so it will heed foreign political support, in return for which. German industries will furnish ibe necessary guarantees. "The visit of Herr Stinnes to London," says the Berlin correspondent of The Times, "is being watched with an interest here out of proportion to that which would be paid to the journey of a private person, as it- was originally stated to be. ' It is, of course, nothing of the kind. The Chancellor still keeps up his polite fiction, but only half-heartedly. " ' The journey of Herr Stinneß to London is the journey of a private person, ;-.nd naturally the Government can have no influence upon iti It is truo that Herr Stirmes previously informed the Government that he would undertake it. The cultivation of relationship with foreign countries on the part of leading circles in Germany is very much to be welcomed, and I wish wider circles of German economic life, especially the leaders of trade associations, -banks, and industries, would take the opportunity of doing the same.' * ' 4 "INVITATION FROM LONDON. "My inquiries go to Bhow that| the invitation to Herr Stinne* first came from Irfnidon, and it is said that it was a definite part of the invitation that there should be a meeting between Herr Stinnes and the Prime Minister. It is stated, here that some part ol h's business in, London is in continuance of that begun recently by Herr Havcnstein, since he has at his disposal the information on German industries desired by the financial groups which have been approached. This matter is intimately connected with the jroposals for the reconstruction of economic relations with Russia. Herr Stinnes is a participator to a large extent in German undertakings that have already begun to resume trade with Russia, and he wasi said last spring to be in negotiation with a British group for more extensive operations. These negotiation* failed to mature at the time, though it appears that the matter was never entirely dropped. The combination between British and German capital for this pxvrpose has from the first had strong opponents, especially among Germans, who had hoped to go in with the United States. It is stated here that there are prospects of combining . the twoschemes." COLONISING RUSSIA. According x to the Morning Post, Herr Stinnes is seeking a way out of tho industrial and financial tangle." Germans of his way of thinking," says the Post, "are convinced that the Soviet Government has come to stay, though the system it stands for is being, and will continue to be, changed by the play of economic forces. Indeed, it is quite clear that the Bolshevists themselves arc quite incapable of ' putting the Russian financial system on a sound basis. For one thing, as Russia is unable to obtain credit to any substantial amount, she is therefore without any medium of exchange for carrying oh international trade. A powerful German group therefore proposes that Russia should be again colonised *n the way that Great Britain originally colonised Australia—namely, that a. start should be made at the sea coast towns; that, to begin with, a system of barter should be instituted, and that gradually the zone of influence should be extended until in time Riussia, on the. one hand, becomes again a great consumer of European manufactured goods, and, on the other, exports her produce, such as grain, flax, etc. The Germans regard it as certain that the moment, that Russian peasants and others find that} the products of their labour can be exchanged for farming implements, boots, cloth, etc., the economic life of the country will again rc/ive. By this stepso the Germans argue—new markets will again be opened for the products of manufacturing countries, unemployment will diminish in Europe, particularly in England, and Germany will be enabled to pay reasonable reparations." BEGAN LIFE AS A PITMAN. Herr Stinnes' fortunes are founded >n coal. Ho began life an a pitman, and, after working underground for some time, was employed in tending the su.rface machinery. When he was 19 years old he was sent to the mining school, where he studied for two years, and was then taken into the firm. Two years later he established himself as Hugo Stinnes (Limited), and struck out for himself, retaining, howevor, tho direction of tho family coal rhinos. From that, time Hu~o Stinnes (Limited) has been the founder himself. ' Hugo Stinnes is 51 years of age. His appearance is that of a man of work, and at tho first glance he might be taken for a foreman or oven a miner. lie is without | any po?e. and simplicity itself in liabits and demeanour, as well as in clothing. ITo is short in stature, wears his black hair clipped short, has jet black moustache and heard, a pule face, deep-set eyes, and a hooked nose. He reminds one of the pictures of Assyrian . kings. Herr Sitinnes >s a master builder, who not only appoints the properly qualified man to the head t.f each department, but who has an intimate and accurate knowledge of all the building material. His collaborator? are mostly men of grat energy, experience, and ability, mid very maiiy of them have for years been at the head of great enterprisess but his is the directing will. lie is quiet, almost expressionless, has no time to be nngry, and has not intere«t whatever in gaiety or festivities; he lives as simply as he dresses. He is always ready to listen lo downright, business talk: he rarely speaks in public, for he is no orator, but after his collaborators have expressed their views and opinions he merely says that a certain course should be or a certain policy adopted. His judgment is rarely wrong.