Word: moratorium
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...Capital, apart from the necessary call of respect on President Paul Doumer, was to get in touch with German Ambassador Leopold von Hoesch. As fast as possible the two statesmen will elaborate plans for Germany to take the "initiative" toward an extension of the Hoover One-Year Moratorium or some actual cancellation of Reparations and War Debts which President Hoover and Premier Laval agreed Germany must take (TIME, June 29). "President Hoover stressed and I agree," declared bubbling, vigorous M. Laval, "that recovery depends on helping Germany to get on her feet...
...that the Premier won a touch: "The initiative in this matter should be taken at an early date by the European powers principally concerned"-i. e. President Hoover promises not to "force" Premier Laval a second time, as he did when he demanded that France sign his One Year Moratorium (TIME, June...
June-July: A rush to withdraw credits from Germany becomes frantic as France blocks the Hoover One-Year-Moratorium-to-save-Germany for 15 days (June 21 to July 6), but signs Moratorium Accord July...
...Hoover and M. Laval are understood to agree that further fiscal relief must be extended to Germany; but the President is supposed to favor a further moratorium, while the Premier inclines toward a temporary cut of 50% in War Debts...
...came some news. Taking up the situation of the Stock Exchange in the past few months. President Whitney produced Exchange figures never before made public, gave the actual size of the short interest. On May 25 it amounted to 5,589,000 shares, declined abruptly after the Hoover debt moratorium, rose to 4,480,000 shares on Sept. 11, stood at only 4,241,000 on Sept. 18. At its peak in May the short interest was .4% of the 1,305,516,000 shares listed on the Exchange. The long account carried by brokers on the same date...