Evening star., 1922-10-22
SEVEN B|GFACTORS:
IN WEEKS FINANCE
Prices for Farm Products,
Marks Slump and Oil Divi-
dends Play Part.
- =. =.
! SURPRISE IN BONDS ALSO
Payment Of First British Interest
on War Debt Another
Development.
SURPRISE IN BONDS ALSO
By the Associa ted Press.

By the Associat ted Press.
!; NEW YORK, October 21.-Higher
prices for farm products, strengthen
ing of the sterling exchange. decline
OF marks to another now low record.
declaration OF stock dividends by tho
Vacuum and Ohio OIL companies of
the Standard OIL group. payment of
tho hrst British interest on the war
debt, and irregular trend in stock
prices and = further shading. of bond
values were the outstanding devei-
opments in this weeks financial mar
keta
While trading in stocks was quite
heavy. the bulk of the dealings were
Of professional nature. SPECTATORS
for the decline forcing halt to the
rapid advance which reached its
peak on Monday, when the industrial
average was at its highest point Of
the year. One Of the significant fea-
lures Of the upward trend was the
shares. which have been tagging be-
hind the rest Of the list
Bond spurt Surprise.
Liquidation by the large institu-
tionS to provide funds either to meet
tho expanding credit demands or to
purchase the new government bonds
was responsible for the most of the
selling in the bond market; One Of
spurt in the 3h per cent liberty
bonds. which carried them above }lo5.
Free marketing OF the cotton crop
has not halted the advance In the
principal cotton futures, which are
collapse Of 1920. Wheat has been
sold above $1.15 z bushel. due 10 re-
ports of a shortage In the European
crop.
There is little change in the domAs-
statistics on car loadiaEs show a
, slight decrease. but they are still
we'll above those Of last year.
Soft Coal Price Softens.
Soft coal production is maintained
around 100000 tons weekly, and a
softening in. price has been noted.
Steel production is between 10 and
75 per cent of capacity. equal to the
that it will remain that way until
the first of the year. The domestic
copper business IL getting batter, but
little buying is being. done abroad.
The motor industry is entering q,
production is materially above, that
High rates for call money in the
| early part Of the week were due. to
shifting Of funds arising out Of heavy
governmental and other midmonth
| operations Business in the time
money market was unusually good.
new loans totaling $20.000.000 being
| made from four to six months at the
per cent rate. A large amount of
the money placed earlier in the week
is reported to have come from west
ern sources.
Vital Factors Abroad.
Financial interest in the foreign
situation 10 again conferred on Ger
man reparations. The further de-
probation Of the German mark was
/ not unexpected, with the Reichsbank
statement showing another increase
of 10000. .o00. 900 marks In the note
circulation, despite the ofncial decree
prohibiting purchase Of foreign Sc
curities with paper marks Rssigna-
| tion of the Lloyd George cabine ct
| caused a temporary setback In the
| advance in sterling, while the ap.
preaching German reparation crisia
and Secretary Hoovers speech on in.
| ter.allied debts were blamed for the
reactionary tendency of French ex.
change.