GERMAN NEWS.

Hokitika Guardian, 28 August 1922, Page 2

GERMAN NEWS.

REUTER’S TELEGRAMS. GERMAN FINANCE. BERLIN, Aug 25. It is reported that Sir F. Bradbury’s delegation to Hermes has failed to come; to an agreement. Cabinet thereupon evolved a proposal to establish a reserve fund of foreign currencies to be placed at the disposal of the Reparations , Commission if Germany falls behind with supplies of coal and timber. It is understood the delegation refused, but negotiations are continuing. NEW GERMAN GLIDER RECORD. BERLIN, Aug 25. A glider competition in the Rlioe Mountains has terminated with a new record by Hentzen, he exceeding throe hours in a flight. He landed 350 metres above his starting point. At Claremont, France, the best performance in motorless flights was by Douchyfi who sailed for nine minutes, and covered a quarter of a mile.

MARK SLUMPS SENSATIONALLY. LONDON, Ang 25 The rate of German exchange has slumped more. The mark touched 11.000 to £l. It then recovered in the afternoon. The recovery', apparently was affected in the hope of the Allies and German Government taking joint action to find a way out of the reparations deadlock. The mark closed at about 7,800 to £l.

A Berlin advice states that there is a surcharge on Customs fixed at 210 per cent, for the period from August 13th till September sth in consequence of the depreciation ef the German mark.

ALLIED MISSION FAILS. BERLIN, Aug. 25. The Allied Reparations envoys, Sir Fl Bradbury and M. Mauclere, have left Berlin, without, concluding any arrangements with the Gorman Chancellor, Dr Wirth. The next steps will lie with the Repa rations Commission.

i ECONOMIC CHAOS FEARED. BERLIN, Ang. 25. The German Federation of Trade Unions has telegraphed to the British Trade Union Congress stating that the collapse of the mark signifies the beof economic chaos, with mcolculahle consequences for Europe, anileertainly extending unemployment in Britain. GERMAN UNIONS APPEAL BERLIN, Aug. 25. The German Federation of Trades Unions has telegraphed to the Trades Union Congress iri London asking it immediately to intervene with a view to averting grave effects on industry everywhere in consequence of the collapse of the German mark.