DEBTS OF GERMANY

Taranaki Daily News, 13 October 1934, Page 7

DEBTS OF GERMANY

FUTURE NEGOTIATIONS SOUND BASIS DESIRABLE TRADE’S STEADY DECLINE FEW TOYS FOR CHRISTMAS (British Official Wireless.) Rec. 5 p.m. Rugby, Oct. 11. The conversations which have recently taken place in Berlin between representatives of the Governments of the United Kingdom and Germany on the question of the outstanding commercial debts and the financing of future trade between the two countries were considered by Cabinet on a report from Mr. Walter Runciman, President of the Board of Trade. It was stated that the Ministers were anxious that the. question of future trade relations betwec ". Britain and Germany should be put on a satisfactory basis at the earliest possible moment and the newspapers understand that Sir Leith Ross, financia. adviser to the Board of Trade, will return to Berlin within th* next few days with broad general instructions as to the lines on which tj>> conversations should proceed. Purely provisional arrangements io± the conduct of trade, pending the negotiations and a satisfactory agreement were reached last month in view of the introduction of the new German exchange regulations and in order to avoid disturbance of trade during the negotiations. Official figures show a steady trade shrinkage in Germany. Imports have been: March, £33,166,000; August* £28,500,000. The exports were: March, £33,416,000; August, £27,835,000. Exports of Christmas tree deocrations and toys are 25 per cent, below those of last year. A more confident tone prevailed on the Stock Exchange to-day and business Was on a wider scale. A feature this /morning was the strength of German bonds on news to the effect that interest on the 7 per cent. Dawes Loan, due on Monday, will be met in full. The issue immediately rose 3% to 56 J /i and the Young Loan 1% to SG’/a.