Twenty Million Pounds Worth of Textile Machinery for Germany, Berlin, Sept. 21.
It is estimated that, £20,000,000 will be expended in Greft Britain in the next ten years for the purchase] lof textile machinery under 2 scheme of financing by which the purchasers] will deposit twenty per cent. of the purchase price and pay off the remainder by instalments over a period of several years.
Germany imported British textile! machinery valued at £320,000 in the] first half-year of 1927—Reuter, Berlin, Sept. 21.
'The German Sewing Silk and 'Thread Manufacturers' Astoci which is obtaining credits has gotiated with a British company, named the General Trading Finance Ca., Ltd, after unsuccessfully approaching American and German machinery firms, which required high interest rates.
The British concern, which is stated to be backed by important British banks, proposes to grant] Jeredits over a period of four years at Gb to seven per cent.
German machinery firms are very, much annoyed at the orders. going} past them and declare that the prospective orders have been highly: exaggerated. They argue that the British are showing short-sightedness by creating severe competition against their own industry.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.