The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-10-30
- THEODORE ~ PRICE.
H4iitor Commerce. aud ifnanrr. New Y.rL


Ths secretary ~ agriculture. SIR Wal
lace. delivered al address last week IN
which ha Was sffy emphatic "a demand.
tng lower ffright rates far farm prod.
uets As it 10 unlikely that tbs secretary
Of agriculture would have spoken so f0fci.
bly, without the approval ~ the preal'
asnt bis speech u perhaps the most inn
portant utwa u he week 10 ia relation
10 domestic affairs
The appeal far lower Rates voiced by
Mr. Wallace came Just aA tha rennkyl.
wants. the Norfolk s Western and some
other railroads announced the resumption
OF pffNaf dividends and since cheaper
transportation Tor goods ant passengers
is not consistent Win Increased difldrnda
unless tho costs ~ operation can be re-
ducTd b. consolidation it Il not surprising
that Tho flif9ad combinations for which
the Each umnibs hIli provides are again
being tetluuHly discussed, Tho old plan
under which tho northern Pacific tbs
Great h hem and the Burlington would
be operated ~ one system u again being
diaf ussfd i Il reported that the View
York control viii take over the Western
Maryland nhh many other amalgamatipns
are beng suggeated
- they take shape II va probably be
discovered thHt many railway securities
nov selling 81 DIX discounts have a value
hitherto unrfalihfds 1his explains the
relative fTmness of railway shares in tho
securities mArketE which have been
oth,faihEe supported ~ somewhat lower
range ~ values FOR both bands aud stocks.
The Libsrly issues have continued 20 re-
heft tho hardening " the money market
and even secretary Melons new. as are
below tho i1tue price Taxable bonds
have OF course taken their tue from gov
eminent securities fheyi Too, afe cheaper
Tho auto mobile stocks are distinctly
liver chi.fiB az a result ~ the Ford
cut in pfiris. ana the reat Of the list
has been rather droopy despite the roHtin-
ued declaration ~ stock dividends by
some u the Oh companies and he flagsl-
latiph 81 the market by those who have
hoped thht fumuaiiOn Of activity
would reattfact speculation.
Commodities Firm.
Commodltiss Oh tile other hand have
been finn sHd IN many Important staples
an advance over laat weeks prices has
been reported cotton and cotton goods
have bcrn conapicuously strong, So have
wool ana Weoien goods. Rubber has held
nioft Of this advance recently recorded.
Tho tendency IA the cereal markets IL stili
upMafd Coffee tea aud rice have been
relatively firm old crop sugar has again
advanced. statistical scarcity until the
new crop IL nyailabl" IL Indicated as the
unsold stocks IN Cuba have dsir1led to
only $4,000 tons
Among the metais copper Ia the only
hazard Iron. steel zinc ana TN are ali
- good demand ~ full prices. II may be
that some ~ the staple commodities are
nrarng d price level al which consump-
ton VIII b. checked but this II doubtful
Tor oDtimlHm - general and in tho cities
al least there IL no unemployment. Good
wakea are 70 be had ~ oil those who are
willing 10 work
Gold Initiation.
The theory ~ gold Initiation 10 which
have previously referred, Ia becoming
generally accepted ~ explaining the con
tTasting strength Of tho commodity mar
kets and The weakness Of the security mar
kotH Tho laieet authority Of distinction
10 accept this theory A the Harvard
committe Of economic research. Its
chairman predicts steady and advancing
prices for he next decade. because an an
nual increase Of 1850 900 900 In the worlds
stock ~ monetary gold for the next eight
years 10 Ind, ated, Sir George PalEh Of
London, who Is over here lecture tour,
IS talking in the same strain aud many
conservative merchants and financiers
who formerly we're disposed 10 pooh pooh
what they called college profesgor's view
of economic questions, are now coming to
realize that tho purchasing power OF gold
as expressed in other commodities. is
declining and Wll probably continue to
decline as long as the United states re-