MARK COLLAPSES.

Timaru Herald, Volume XCVIII, Issue 18029, 18 January 1923, Page 7

MARK COLLAPSES.

316 FOR A PENNY.

RATE TOUCHES 80,000.

REICHSBANK STOPS HOT. By Cable—Press Association —Copyright. (Received 11 p.m., January 17.) BERLIN, January IT. The Sterling Exchange in Beilin collapsed, and closed at about 70,000, after touching 80,000. Wlien the mark reached 78,000 the Reichsbank placed some of its reserves of foreign currencies on the market and stopped the rot. At one time, 85”,000” marks were offered to the £l. The Reichsbank is daily printing 25,000,000,000 of new bank notes. Even these fail to meet the needs of Germany. Tuesday’s crash was partly due to the wholesale buying of foreign currencies in order to meet payments for British coal.—A. and N.Z. Cable. MINE OWNERS MOVING. SOME FULFILMENTS. By Cable—Press Association —Copyright. (Received midnight, January 17.) ’ BERLIN, January 17.

French advices from Essen claim that the prohibition against the execution of coal requisitions has not been generally observed, as some mine-owners began to fulfil them to-day. It is officially confirmed that a mob of young Communists attacked the French post at the Bochum railway , station. Some shots were fired; upon which the French replied, and two demonstrators were killed. The French entered Dortmund at noon yesterday.—A. and N.Z. Cable. BAVARIAN FASCISTS.

By Cable—-Press Association —Copyright. (Received 11 p.m., January 17.)

BERLIN, January 16. Political circles are professedly most alarmed at the development of the Fascist movement in South Bavaria. Their . propaganda favours a dictatorship, and, it is stated, it has been enormously aided by the occupation of the Ruhr. The Fascist leader, Hitter, is credited with endeavouring .to effect a general rising. The “Frankfurter Zeltung” cites January 20 for a coup cl’Etat which Hitter is contemplating.— A. and N.Z. Cable. THE FRENCH THREAT.

By Cable—PresS Association —Copyright. (Received 11 p.m., January 17.)

BERLIN, January IT. Referring to the French General’s threat to arrest recalcitrant owners, a coal director declares that this will not induce owners to comply with the French demands. The “Daily Express” learns that all Frenchmen are being expelled. Tho “Morning Post” says that the German view is that French action in the Ruhr is designed to create a vast All-Europe trust, for the fusion of the French and German steel industry, including coal, iron, and ore supplies, with power to manipulate the international labour market.'- —A. and N.Z. Cable. FRANCE IS FIRM.

By Cable —Prose Association —Copyright. (Received 11 p.m., January 17.) PARIS, January 16. The French i attitude has considerably stiffened as a result of German obstructionism. There are signs that the occupation of the Ruhr is likely to become less invisibie, and less purely economic; and that German resistance will meet with very visible military pressure. Already there is talk in the Press of‘taking hostages among business men and high officials, in occupied territory. Le Matin” foreshadows the making of tho Ruhr and Rhineland a buffer state in the event of continued German recalcitrance. Advices from Berlin show that the Boxing League lias decided, owing to the occupation of the Ruhr] that French and Belgian boxers are not to bo allowed to appear in Germany.—-Reuter s Telegrams.