The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-10-20
MONEY CONDITIONS
DOMINANT IN FRANCE:

NEW YORK. Oct 10 - Henry o'e"S
Money conditions during the week
have been dominant In Their !'npot t,'' ~, ,
csn rates have been as alSh as - P.. :
cant and have lately ruled aroUhu ~
10 per cent There has been gro ~
IN me volume OF rediScounts at feuerN'
Pescryc Banks and an apparent 1ispoSr ,
- an Tho part OF Some member OF
hanks 10 try to make money py tak'hr
advantage OF the situation ks"~hs ~
~ a high call rat" paraliciled ny ~"
rate for loans collateral ny tIoE.rniu Ut, ;
,bIrations What with the industry as
,urbanccs the uncertainty or the pnnt |
cal situation and the anxiety growing
out OF money conditions II is NOT
strange that there have been wide nuct-
nations in stock value. Although during
the preceding w"ck there WAS very
general and marked gain IN prices or n
dustrial shares especially those or the
more reliable sort. there has during the |
mast week been reaction which mas !
wiped out some OF tho gains that Eao
been registered few days Garnet ms
re5uction Of values could hardly have
heen avoided except through the pres
nnce Of large supplies OF easy caIi
money which, as already noted: ala NOT ;
extst, As things stand. therefore. the 1,
further progress Of tho market seems
70 depend very largely upon the indus
trial and political announcements from
day to day since definite monetary
support is lacking and il is the known
noiicy of many Of tho banks 10 dlscoUr-
ago speculative commitments through
refusal Of call funds beyond a certain
point or through the eAaction or h'sh
rates.
Although stock exchange valuations
have been unsettled during the week II
has been noted with interest that cN-
change is holding lfs own unexpectedly
we'll. Most OF the European exchanges
arr Of course at low cbb. but they
have not Of late exhibited the extreme
weakness which had been predicted by
many sterling exchange has been hrn
around S5iS and tho export figures
which have boon made public by the
Government Of Great Britain have been
encouraging because they have shown
recovery Of British ability TO establish
an export surplus. On the other hand.
rho Continental exchanges, although not
dtsCoHracinE. hay" evidently been less
firm than Great Britain as a result or
This Very dltfcrcnc" in their position
their smaller ability 70 promise r"cov-
ery Of export power. German exchanso.
with itS low valuation Of 3.65c. or there
about. is by many regarded as n good
Investment and large balances or Ger
man marks have been accumulated.
Others. however. recognizing as they do
the uncertainty Of the German situation.
predict Il Still lower fall Tor the mark
An Interesting feature Of IN" weeks
DEVELOPMENTS has been tho renewal %
The effort Of banking interests 70 obtain
Government support. moral or material
or both for an export credit designed
70 re-eStablish the position OF the EN-
crican exporter in foreign market. Tho
fact that Great Britain has already in
PRODUCED on n limited scale q system
whereby export credits are to he guar-
anteed has strengthened tho argument
of the bankers for action designed TO
giyeto our shippers competitive power
II, the contest for trade. As yet there is
no Indication. however. Of any disp0S-
ltion on the part Of IN" Government 10
help in this matter with actual funds.