IN GERMANY

Timaru Herald, Volume CXLVIII, Issue 21819, 23 November 1940, Page 4

IN GERMANY

PROFITS SOAR BUT WAGES ARE DOWN (From Our Own Correspondent) LONDON, September 21. Details of soaring profits in Nazi Germany are disclosed in the latest reports reaching the English headquarters of the International Transport Workers’ Federation. "In spite of camouflage,” the report states, “war profits have risen enormously. Dividends are intentionally kept low and the greater part of net profits is concealed in undistributed income, reserves and depreciation.” The report quotes figures showing enormous concealed profits for the I. G. Farben, the chemical trust, for the coal mining trusts, and for the manufacturers of small arms. Early in the war the Nazis imposed a war profits tax, but under pressure from industrialists Hitler cancelled it. « “The Nazis increased the pressure on wages.” states the I.T.F. “Polish were paid 15 to 20 per cent, below standard rates. Czech. Dutch, Belgian. French, Norwegian, Danish workers all are subjected to wage pressure.”