REPARATIONS.

Taranaki Daily News, 26 August 1922, Page 5

REPARATIONS.

MISSION IN BERLIN. REPORTED OFFER. COLLAPSE OF MARK. By Telegraph.—Press Assn.—Copyright. Parisj August 24. Although there is the utmost secrecy in Berlin with regard to the outcome of the mission of Sir John Bradbury and M. Mauclere, several newspapers state that the German Finance Minister onlyoffered in default of payments in kind to guarantee two and million «ter]ing. which would be supplied by the German banks. The newspapers allege that the delegation considered the offer ridiculous. London. August 24. The Berlin market is deluged with marks from foreign holders who have flung them on the market jvith no other object than getting out at any cost, but the holders of foreign money, especially of dollars, are most unwilling to sell. Consequently the volume of business done at present at the mad prices is very small. The collapse is attributed locally to the complete loss of faith in the recovery of the mark, also to pessimism regarding the outcome of the present negotiations of Sir John Bradbury and M. Mauclere with the Government. The absence of news in that connection has created wild rumors, including reports of the imminent departure of Sir John Bradbury and M. Mauclere.

The panicky excitement on the exchange is largelv due to rumors, therefore it is not altogether warranted, but evidently stiff bargaining is proceeding. The violent fall in the exchange is regarded as a danger signal of the political storm.