Free trader-journal. (Ottawa, Ill.) 1916-1920, 1920-02-05


finance here stated today that it i
thei- opinion that inflated cost O
clothing. food and other necessities o
life Is at an end and already there Il
marked decrease in the basic pric:
OF many ommodities.
New York, Feb. d Old HI Cost il
being seriously menaced and faces
overthrow as the result of a record
breaking slump experienced on the
New York Exchange yesterday OF for
elgn coinage values. Termed as the
most disastrous collapse in the his
tory OF the foreign exchange market
British, French lelgian and Italian
coinage showed their effect upon the
market in general, by creating a %
per cent rate tor demand loans
The slump swept the market in ger
eral, quotations dropping on all the
larger stocks Experts on Wall street
expressed themselves as pessimstic
over the outlook for the future. Some
looked at the skidding OF foreign ok.
change as the forerunner of general
drop In the high cost Of living.
Demand sterling fell to so.16 a de
cline OF II cents from Yesterdays low
and 81 cents under last weeks final
quotation. Translated into American
dollars, the pound sterling showed a
loss OF considerable more than o3 per
cent from its normal or pre-War price
OF s4.s69.
French Belgian and Italian remit,
tances at new low quotations of 1872
lt"2 and lJ,10 respectively. were at
cunts extending from GS to ~ per
of their normal quotations of
Il to the dollar
)unter movements which reflected
local conditions included new
premiums for bar gold and silver
he London market and a higher
alton for New York exchange at
ldian points.
the stock market the movement
one OF almost continuous decline
AlS sustaining extreme losses of
IL points. with few unimpOrtant
rs in the later declines. The close
ed few stocks without net losses
he day, and declines ranged from
l4l2 points at the close.
peclal features of weakness in.
I'd General Motors, Stutz. Stude.
T. Chandler, and Pierce Arrow,
can and Pan-American Petro-
$, Texas Company, Middle States
.rucible, Republic Bethlehem and
States Steels, Baldwin Iocomo.
Worthington Pump, American
en-, American Tobacco Iorillard
eco. Snmatra Tobacco, Associat.
y Goods and the various shipping
lood shares.
rpsaptionc pf 40,
represented the largest total
the crash of last November. and
per cent rate for call money re
nted the maximum quotation for
orm of accommodation since Nov,
len as much as 20 per cent was
eminent Withdrawals were nee
Ell by payments this week of
ng treasury, certificates and ap-
10 be the major factor in
money stingency.
of all descriptions paid toll
days reversal, several of the
issues both victory notes and
Il the International war flota.
tablished new low records on
err par value of S22.750, 900.
on the local cotton exchange
from 1925 to about 50 per
closed down $3.50 to S. a
lie at New Orleans there was
ne fall OF SO bale and the
down about $50 bale. |
igo grain and provision mar.
suffered losses
around noon when the min. |
citation of $40 for sight |
recorded and at this time |
ed messages from Lo1don, |
o rumOred joint action by !
orters. acting presumably !
nment approval to discon.
nportation of cotton for an
eriod The report was sui-
use an abrupt rally in ster-
but the movement evi.
scented little besides short
l shortly the decline was
ictims cackIe7
Feb. Victims of the
living were given cause
al chuckling today when
It's showed that eggs re- I
cold storage at 80 cents I
being thrown on the '
ces ranging downward
cents wholesale. {
was reported 20 have AT 5
sh egg market, bringing s