DRASTIC CHANGES.
Germany Amends Financial Laws. BERLIN, December 12. Twelve German Stock Exchanges, including Konigsberg and Bremen, will be closed on December 31 by order of the Minister of Economics. In future there will only be nine, those at Berlin, Breslau, Hanover, Stuttgart, Munich, Hamburg, Leipzig, Dusseldorf and Frankfurt. State supervision of banks and other financial institutions is the principal point of a number of economic and financial laws adopted by the German Cabinet. One of the most significant of these laws limits all dividends to 6 per cent, any surplus being depositable in a gold discount bank to form a “ loan reserve ” which will be used for relief works and building projects. I Funds deposited in this reserve cannot be reckoned as part of the capital of the concern making the deposit, and interest cannot be claimed until four years have elapsed.
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Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20537, 12 February 1935, Page 9
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143DRASTIC CHANGES. Star (Christchurch), Volume LXVI, Issue 20537, 12 February 1935, Page 9
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