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Show GERMAN INDUSTRY LOSES BOOM SPEED WASHINGTON', June 16. Gloomy prospects for German Industry and greatly Increased activity in Austria were noted in reports issued Friday by the commerce department from its representatives in those countries. German Industry, according to Commercial Com-mercial Attache Herring, is facing a discouraging outlook with production costs rising rapidly, foreign orders for commodities falling off and many cancellations can-cellations of contracts explained by the approach of German export prices to world market levels. "The lllusorv nature of the present industrial activity." Mr. Herring said. is becoming Increasingly apparent: temporary advantages of fresh currency curren-cy depreciation are progressively less effective " During May, Trade Commissioner Upson at Vienna reported Austria experienced ex-perienced a sharp rise of foreign exchange ex-change which surpassed all previous records, effecting an Increase of prices. Exports are advancing, he stated, many new orders are belnc placed, profits urt- apparently high and there is great activity in most industries, resulting In the re-employment of many workmen. work-men. oo |