CRISIS IN GERMANY

Poverty Bay Herald, Volume LIII, Issue 16492, 9 November 1927, Page 7

CRISIS IN GERMANY

MAY YET BE AVOIDED HOW AMERICA VIEWS IT (Australian and N.Z. Cable Association.! NEW YORK, Nov. 8. There is evidence hero that the State Treasury Department is in full accord with Sir Parker Gilbert’s warning to the German Government. It is understood that the State Department policy of supervising loans iloatod in the United States by foreign interests would be employed to the lull in the event of later developments transpiring. It is indicated that the German Central ancl State Governments are not prepared to effect reforms which Sir i’rkcr Gilbert feels are essential. Emphasis is laid by the Treasury Department. on that portion in his statement which points out that there is still time for a readjustment of Germany’s financial policies to avert a crisis and it is apparently hoped that Germany will accept tlie warning m the helpful spirit in which it is offered and set its fiscal house in order. SHARES DEPRECIATE REORGANISED POLICY NEEDED (Australian and N.Z. Cable Association > BERLIN, Nov. 7. The GlanzstolT Artificial Silk Co. shares fell from bfil points to 515, and (he depression is accent unfed by (he announcement dial the German' Steel 'Trust expressed the opinion that Germany must, reorganise her financial policy if iin economic and industrial catastrophe is to be avoided. Higher wages and shorter hours are reducing the profits, despite technical improvements m the coal, iron and steel industries. Steel Trust shares are at a record low point, 9t>J,. Apparently the ’Trust is refraining from deciding oti a dividend until it knows whether the eight, hours day will ho introduced at the. new year.