GERMANY’S DEFICIT.

Taranaki Daily News, 3 November 1922, Page 5

GERMANY’S DEFICIT.

REPARATIONS burden. BLAMED FOR POSITION. COMMISSION’S INQUIRY. By Telegrajjh.—Press Assn.—Copyright. deceived Nov. 2, 7.45 p.m. Berlin, Nov. 1. The Government and the Reparations Commission -decided to icsue joint communiques relating to the negotiations. M. Barthou, in the first statement, says the commission was not intended for violating Germany’s- sovereignty, but had to seek precise details of the German finances. Herr Shroeder, replying to the commissioners, declared the deficit in the current Budget would probably total 440 milliard marks, due solely* to the reparation demands.—Aus.-N.Z. Cable Assn.

CAREER OF THE MARK. BOOM IN SECURITIES. ACTIVITY ON BERLIN BOURSE. Received Nov. 2, 11.20 p.m. London, Nov. 1. The Berlin correspondent of the Daily Express states the first of November has been christened “Millions Day.” On the Berlin Bourse shares rose by thousands per cent, and stocks in the Stinnes Company increased more than a hundred times their normal value. The Bourse thus discounted the possible effects of the negotiations with the Reparations Commission for stabilising the mark. The Daily Telegraph’s Berlin correspondent says the fantastic boom in securities, variously ascribed to foreign orders and restriction on speculation in exchange, is liberating hoards which would otherwise be used to buy foreign currencies. It is also suggested that large quantities of marks held abroad were being invested in the hope of getting, at any rate, some small return. It is stated on the Bourse that a German 3 per cent, loan, which advanced to a thousand, is entirely held in London.— Aus.-N.Z. Cable Assn.