GERMAN NEWS.

Hokitika Guardian, 20 May 1924, Page 2

GERMAN NEWS.

iL'HTRAI.IAN AND N.Z. CAULK ASS')UJ,'TIO v. COMMUNISTS AND POLICE CLASH ;!tg~?ivcd this day «t 8 a. in.) BERLIN. A!ay 18 Hand to hand combats occurred at l''uorstilwiildor, twenty miles from Berlin, when six thousand Communists arriving for a demonstration which was prohibited, found hundreds of police assembled at the station. They chased the Communists from the town at the point of the revolver and manv were wounded on both ride.".

(! EH .MANY’S PLIGHT. Rpeeicfij tins dav at ft. 25 n.nt ' ' LONDON. May Ift. The “Daily Chronicle's” Berlin correspondent says the whole commercial and financial structure of Germany stands in imminent peril <:f a col lapse. Representative city business men agree that tit present, there is almost a complete lack of credit and the numerous haul; failures, and alarmingly increasing commercial hankriiplne.ss. are undoubted portents of a crisis which may •shake the country to its foundations. The credit situation is .aggravated by the heavy losses sustained by the banks and industrial concerns in T'rencli francs speculation, which since the first April have put forty banks, including .some of the oldest, out- of action. Money is only available at four to eight per cent per month. Credits have been used heavily for the importation of large quantities of luxuries. Germany’s exports are only one sixth of the lftli) figures, while the (Imports are two thirds thereof.