THE WORLD’S MARKETS

Waipa Post, Volume XXIV, Issue 1578, 25 November 1924, Page 7

THE WORLD’S MARKETS

FOREIGN ORDERS FOR GERMANY.

Leading German industries have

been able, owing to the reductions in freight rates and interest on credits now distinctly in view, to bring their price calculations down considerably so that many German goods are now in a stronger position as regards competition on the world markets. As a result, foreign orders have been increasing. Several large German shipyards, for example, have been able to obtain important orders for new constructions, especially for American and Scandinavian account, in the face of the keenest British and Dutch competition. Moreover, Argentina and Chile have given large orders to German manufacturers for waggons and locomotives, and in Rhineland-West-phalia substantial orders for rails for Servia, and building materials for Holland and Great Britain have been received. The Soviet Trade Representation in Berlin has also concluded several contracts for the supply of industrial machinery and technical articles for various State economic organisations, amongst them being orders for printing machines for the Russian State Publishing Department. Demand is very lively on the part of German firms for Russian export goods such as flax, bristles, horsehair and furs. Further, negotiations are also proceeding with German firms for the delivery of petroleum, while the arrival at Hamburg is expected shortly of a consignment of petroleum from Baku.

Hardly any business has been registered on the Belgian iron and steel market. There has been a noticeable accentuation of foreign competition. On the coal market German consignments are heavy, and those from Great Britain are increasing. The coke market is weak.

A solution of Spain’s railway difficulties seem likely to result from the Railway Council’s nationalisation scheme. The State stands pledged to find the funds necessary to complete at once six new lines and to commence work upon three others. The sum of 1530 million pesetas has been allocated to existing companies for improvements, while within the next twenty years 12,853 kilometres of new line, to cost 4868 million pesetas, have been arranged for.