Wabash Awards $7 Million in Freight and Passenger Equipment
Wabash Railway awarded contracts totaling about 7 million dollars for freight and passenger equipment. The orders include 2,800 freight cars and other rolling stock, announced by vice-president W C Maxwell. The deal aims to bolster capacity and service, with delivery schedules to be set by the railroad.
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Germany Faces Financial Strain Without Aid Says World
Financial postings warn that Germany must secure foreign funds or risk catastrophe, with hopes that France and other powers will understand. Germany cannot print gold or indefinitely buy currency, relying entirely on Entente for relief. The Rapallo treaty is viewed as overstated, focusing on Germany and Russia’s wartime exit rather than broader German ventures in Russia. Russia needs large foreign capital but cannot provide guarantees, while Germany has little capital to invest.
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London Bank Rate Cut Aids Market Rally
London markets rise as the Bank of England trims rates, boosting stock prices and easing fear of trade collapse. Analysts note renewed optimism but warn that durable recovery hinges on Europe’s finances and reparations talks, with Berlin warning of deeper economic strain. Leaders in Germany contemplate debt relief and monetary reform amid looming deficits.
France Turns Hopes to War Debt Board
Paris reports a shift in banker sentiment as a Reparations Commission moves to tighten control over German finances. Measures aim to strengthen the Reichsbank independence and curb monetary inflation, while planning tax and subsidy reforms to stabilize public finances and back Austria with currency support. Public belief backs continuing reparations payments to finalize the Wiesbaden accord, despite industrial objections. France seeks tax collection efficiency and tax record checks to cover massive government deficits and reconstruction costs.
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