Omaha daily bee., 1920-10-22
Financial
Tbe Nem nork Gimes.

Chicago Tribune-Omaha Bee Leased Wire.
New York, Oct. 2l.-The markets
were influenced today by unsettling
events abroad which have direct
bearing upon American exports.
The move of transport workers
unions in England to force the gov
ernment's hand in the wage contro-
versy with the coal miners, was i'm
mediately availed of by the profess
sional traders in stocks to bring
about reactions running from large
fractions to more than point. The
threat OF the British railway men to
help the miners had been hinted at
from the start of the mine strike,
but the selection of definite day
to cease work clinched the bearish
import of earlier conjectures.
Stocks fell back after the morning
had brought some sizable ad-
vances. Sterling, also, belied an
earlier appearance of firmness by
declining sharply in late transac
tions, the demand quotation retrac-
ing its course from 3.45A@3.42A
for net recession of "a cents.
Wheat futures quotations fell 5 cents
a bushel at Chicago and cotton pur-
sued its decline with reactions OF
IS to IS points. The connection be-
tween possible widening of British
labor difficulties and the marketing
of our cotton and grain is sufficient
" obvious to explain why prices
should recede under speculative urg-
ings.
Unbalanced Trade Position.
The question may be raised In the
what may be temporarily adverse condi,
tons In England were more influential
In the markets than Information from
ent decline Of Argentine and Brazilian ex-
change of late until the present deprecia-
tion of about 22 and rs per cent In terms
Of the American dollar was recorded, tells
its own story Of an unbalanced trade po-
siton.
But 1t remained for dispa tches, which
were received today. to make conditions
ing to cooperate in limiting Imports from
the United States to the barest neces..
stiles. Supplementing this evidence of
slackening Of sales in export channels,
was news that bankers of Colombia were
considering the advisability of morato.
rum. AS Idr as hrazH IL CohcefHeu, ~
Is likely that exchange will be supported
shortly through loan Of $3O.oOO,000 to
$40 O0o. 900 In the United States. and no
surprise would attend overtures by Ar
sentina for accommodation here.
A task In which the South American
countries is engaged no less than japan.
Holland, and the United States, is one
world decline Of commodity prices
and the inability of consumers to buy
on the scale Of six months ago Whether
or not security prices here have dis
counted a large part Of the after the war
readjustment processes" 1t stands to
reason that they will be unable to ignore
new events as they occur.
Time Funds Easier.
Call money lent at per cent during
the business session, with an advance re-
ported for specially arranged loans aft
ly easier, although old rates did not
change In actual transactions. The abii-
ity Of the investment market to absorb
large offerings was again demonstrated
by the appearance of Denmark as bor-
rover of $25.000.000 at per cent for 25
years. Denmark is another country whose
strong position In the exchange market
the loan is for the purpose of financing
the purchase of needed goods and ma
terials.
AS the steel industry is now the center
Of much debate over the future course of
commodity quotations., a great deal Of In
Iron and Steel Institute to be held to-
morrow. 1t is possible that the exchange
of ideas between the leading producers
Will have a bearing upon the market that
will shortly be expressed In changes of
some prices.