Germany's reliance on continuing and increasing oil imports is a factor conducive to the avoidance of war, or at least to economy in the use of aeroplanes in war. The average twin-engined bomber of today has a petrol consumption (on a very conservative estimate) of round 56 gallons per hour of flight. At a speed of 250 miles per hour, which is that of a standard type of British bomber, a flight to the east and' south-east coast of England and back to the nearest point in Germany means using up not less than 140 to 150 gallons of petrol (the latter figure being half a metric ton).
But bombers could obviously not all be concentrated at the nearest given points to England; the groups would have to be scattered and many would start from well beyond Germany's western frontier. It is as far from the centre of Germany to Germany's western frontier as it is from that frontier to the English coast. Hence flights to the English coast and back from bases in Central Germany would use up twice as much petrol, or one metric ton.
Last September Germany was said to have at least 2,000 bombers and, whatever may be the true number, she has since increased the total very considerably, and is continuously doing so. It would be rash to say that Germany has not the petrol to fly these machines, but it is evident that to keep them continuously employed in war would eat up petrol, and Germany is not yet in a position to be indifferent to petrol consumption.
Berlin, June 18.
The firm tendency on the share market that set in at the end of last week did not continue during the current week. The share market was exceedingly quiet with little stock changing hands so that prices kept declining daily. The cause for the listlessness was the continued demand by bank customers for tax credit certificates Nr. 1 though certificates Nr. 2 were also asked. Prices for these continued firm with certificates Nr. 1 touching 102.50 and certificates Nr. 298.45 yesterday. The turnover of the latter yesterday amounted io 550,000 Marks. Other fixed interest Securities remained quiet during ihe whole week.
The "Frankfurter Zeitung" share index for June 16th was given at 128.59 and the bond index at 101.70. The wholesale price index for the past week was 107.
Call money was in demand during the week for the semi-monthly settlement, the rate rising to 2% to 3 but dropping again to 2% to 2% per cent. 3
An official statement issued by ihe Reichs Finance Ministry showed that ihe Reichs revenues for 1938 aggregated 17,700,000,000 Marks. Although no new taxation is to be imposed, the revenue expected for 1989 is estimated at 22,000,000,000 Marks and that for 1940 still higher, the increased figure being expected because of the anticipated rise in national revenue. m The following are the quotations of some leading stocks at the beginning and end of the past week respectively Reichsbank 17830 Una. German Dye Trust 15100 19040 Sáizdetturth Potash 13850 19850. United Steel Works 102.50 100125 Mannesmann Pipes 10487. Harpener Mining 130.00 German Mineral Oils 119.50 Continental Rubber Ung. Siemens & Halske 18640 General Electrics A.E.G.
113.75 Rhenish-Westphalian Power 113.50 Hamburg America Line Ung. North German Lloyd 50.15, Bemberg Rayon 128.125 Deutsche Bank 111.50 Deutsch-Asiatische Bank Ung. 377.00 Young Loan 102.75 102.75
—Trans-Ocean.
Text read from the printed page and cleaned; old type leaves the occasional error.