Evening star., 1919-12-07
COMMITTEE ON EUROPEAN - -
FINANCE IS ORGANIZED
Is Result of Conference to Press Plans of
Assisting Acute Situation Now
Existing.

buying power of the public. AS a
matter of fact, buyers, in the opinion
of observers in widely separated sec
tions of the country. are becoming in
different to comparisons of present
prices with those which obtained a
few years ago. Work is plentiful and
good wages are being paid. In view
of the serious labor troubles in some
parts of the country, and the contin-
uancc of a technical state of war. the
sustained buying power and the heavy
orders for future delivery in basic
lines are little short Of remarkable.
Iron and Steel Output Limited.
1t was evident that the coal shortage.
necessitaung the drawing on reserve
supplies Where they bave existed. would
hamper iron and steel manufacture, and
reports Of the partial or complete sus-
pension of operation at some works have
become more common. A leading steel
concern in the Pittsburgh district, to
mention one conspicuous instance. has
been compelled to bank four blast fur
naces because of lack Of fuel, and, one
prominent company in Chicago territory
has been forced to bank five furnaces
and has blown out another. In view of
these adverse developments. the market
gain in pig iron production during No
nearly 200 900 tons above the low point
reached on the October slump, due to
the strike within the industry. loses
much of its significance, and the Iron
Age says that indications point to an
appreciate lapse from last months per-
formance. With the output of iron and
steel further curtaiied. it was obvious
that prices would go still higher. and
pig iron this week, following the recent
sharp advances, is up an additional 81
to SO.
!. Commodity Prices.
There has been no perceptible check
to the upward trend of wholesale
prices for"the principal commodities.
there being forty-four advances this
Dun's Review, as compared with
thirty-two recessions. Considerably
stronger conditions prevailed in the
grain markets, largely rejecting re-
stricted receipts as a result of reduced
transportation facilities, caused by the
coal strike, and more or less increase
was established on corn, oats. rye and
barley. In live meats, sheep and hogs
were similarly affected. but beef was
slightly easier, and provisions dis
some products rising while others de-
elined. The demanS for dairy products
was welr maintained, in spite of the
extremely high price level, and. with
supplies hardly equal to requirements.
eggs sold at a new record, while but
ter tended upward.
Watching the Markets.
A prominent New York brokerage
house sends out the following: Tech
nical conditions, more powerful in the
stocks that have been the center of
bearish operations, are materially
helping a recovery in the market. 1t
is quite evident that the men who de-
sire to sell to establish losses for tax
purposes have largely completed the
operation-that is, both the sale and
the gepurchase. While this recovery
may go further in the next few days.
it is doubtful if the market is yet Sc
cure against the operation of broad
fundamental considerations. Watch
railroad news from Washington with
particular care, for the position of
some carriers is precarfous. While
money is easy for a time. it may be
stated emphatically that men in con-
troll of the federal reserve do not view
the future through rosy glasses. A
further material decline in exchange
is expected. To properly interpret it's
consequences will be the traders
chief burden. 1t is felt that, some
how. labor and Mexico will adjust
themselves as market considerations"