The New York herald., 1921-02-14
LIFTED EXPORT BAN
IS BOON TO FRANCE
Firm in Belief That End of
War Ruling Will Improve
Financial Outlook.
PREPARATION MAIN ISSUE
Stabilizing Of Exchange and
Discounts Must Await War
settlements.
Special cabi. 60 THE New York HERALD.

Special CGble 20 THE New York HERALD.
Copyright. 1921. by THE New YORK HERALn
New York Herald Bureau.
Paris. Feb. 13.
The partial lifting OF the pan on ex-
portation of French products has been
the cardinal feature in the economic
il is sure to have a widespread effect
on foreign as well as domestic markets.
BY the Government decree potatoes.
beans and other products OF the soil
can now be exported in accordance with
the natural laws OF supply and demand.
The Government also indicates that the
lifting of the ban on wheat, coal and
sugar exports viii follow shortly.
The Government decree is designed TO
augment production of these commodi-
ties. France thus is relieving herself OF
the artificial restraint placed ON her
commerce by the war; in the firm belief
that this move will ameliorate her ex-
terror financial situation. The repara-
tons problem however. still is the pre-
dominant factor in the financial situa-
ton here, and until this has been set
tied, nothing stable in the way Of ex-
change rates. discounts and the de-
velopment Of International finance can
be expected.
Although business here has shown a
halting tendency. subscriptions to the
new issues of the Credit Fonciere have
been better than expected and 1t is now
assured that the whole issue of 1850
100000 francs has been taken. thus
giving the French Government consid-
cradle relief in meeting its interior and
exterior financial obligations
The French Parliament soon viii be
asked to authorize the first lndo-China
loan OF 5000 900 piasters at ~ per
cent, for which 1t Is believed there will
be considerable demand. The Credit
National has just authorized another
loan of 100000 francs to industries
in the devastated regions. This is espe-
cially significant as showing that an
effort is being made by this institution
to restore the invaded areas, as during
the month Of January the Credit Ma
tional. in cooperation with the Ministry
of the Devastted Regions, advanced
1870. 100000 francs on reparations claims
from it's ordinary cooperative transac-
tions.
The Mexican Eagle Oil Company still
holds first place in the activities on the
Bourse. falling from 30S to 292 francs
during the week. This was influenced
partly by indecision as to what arrange
ment would be arrived at between the
United States and Mexico and also by
the fact that the new issue has not yet
been quoted on the Paris Bourse.
Oil operations have been somewhat af-
fected by the news from Russian sources
that Standard Oil and other interests
have been negotiating for the control, IL
not for the outright purchase. of the
Baku oil fields. II was announced here
that English engineers are now in Mos
COW negotiating for the complete ex-
ploitation rights to the Black Sea oil
areas. and that British interests already
have concluded an accord with the So
viets regarding expectation from the
Baku and Grosnyi naphtha reserves.
Generally the money market here dur
ing the past week mas been very tight
discount rates as well as call rates de-
pending entirely Ipon the capacity of in
dividual organizations to renegotiate
their surplus paper.