HEADED FOR RUIN

Wanganui Chronicle, Volume LXXXIII, Issue 19993, 9 November 1927, Page 9

HEADED FOR RUIN

A SOLEMN WARNING Germany’s Financial Policy Must be Re-organised PANIC ON THE BOURSE (By Telegraph—Per Press Assn.—Copyright.] (A. & N.Z.) BERLIN, Nov. 8. Received Nov. 8, 7.55 p.m. Glanzstoff artificial silk company shares fell from 561 to 515 points, and the depression was accentuated by the announcement that the German Steel Trust had expressed, the opinion that Germany must reorganise her financial policy if an economic and industrial catastrophe is to be averted. Higher wages and shorter hours are reducing profits, despite technical improvements in the coal, iron and steel industries, and Steel Trust shares are at the record low point of 95|. Apparently the Trost is refraining from deciding on a dividend until it knows whether the eight hours day will be introduced at the New Year.

AN URGENT MESSAGE COURT’S DECISION RADIO EMPLOYED (A. & N.Z.) SYDNEY, Nov. 8. For the first time in Australia radio was used to convey an important decision of the Court from Sydney to New Zealand. The case had reference to the sale of shares in plantations there. The Judge in Equity granted an order restraining defendant from selling shares ami 'directed, as the matter was one of urgency, that the decision of the Court should be served on defendant by radio.