TIDE NOT TURNED

Wairarapa Times-Age, 19 August 1938, Page 6

TIDE NOT TURNED

THE SLUMP IN GERMANY STATE DRAIN ON PRIVATE RESOURCES. COMPANIES BADLY PLACED. By Telegraph—Press Association. Copyright. (Recd This Day, 12.25 p.m.) LONDON, Aug. 18. The “Daily Telegraph’s” Berlin correspondent says financial circles are not inclined to regard the day’s slight recovery on the Bourse as a turn of the tide. Company reports during the past few days help to explain the slump. For instance, a Friedrichschafen cogwheel company, which last year paid eight per cent on smaller profits, announces no dividends. All available cash is swallowed up in the demands of the Four Year Plan and the needs of private investors must yield to those of the State.

ORDERS TO BANKS. HITLER DECIDES ON DRASTIC ACTION. (Recd This Day, 12.55 p.m.) LONDON, Aug. 18. The “News Chronicle’s” Berlin correspondent says Herr Hitler conferred with Herren Funk and Darre and Dr Schacht and decided on drastic measures to end the slump, ordering the banks to intervene and buy up shares flung on the market.