Omaha daily bee., 1922-04-11
Financial
Che Mem uork EimeS.
BY ALEXANDER DANA MOVES
om.ss Nee LEASED wbs.

]
New York, .APFll I0-lhs re-
spouse oi hHsRelal markets 10 the
assembling ai the Genoa economic
conference Was voiced primarily IN
iegelgn exchange rates, French aud
Italian exchange went above the
highest rates reached ~ the last adj
vance and sterling, though not
I touching the SEASON maximum OF
si,ii lss, MAS quoted Al one time
al Nis IL, 4 rise OF ! l-ie over
last weeks closing. I l-se since last
Thursday and OF IL J-ie from the
low point OF last months reaction.
lhls movement oi tie marke, Is
not At all unnatural; indeed. IN view
ol eAlsting circumstance and the
chances Tor an unexpected turn ~
deliberations a. benoa. IL would
have been surprising II speculation
AT any rate had not taken a hand.
IL Is safe 10 say that the foreign
exchanges ate not rising because
the markets expect the conference
10 stabilize them. IL has 10 such
expectation and II Il had. the belief
would as logically send rates down
as up. he preliminary cables from
Genoa have contained more or less
absufdiiy in the way OF prediction.
but the exchange market knows an
absurdiiy. when II sees Il.
o., MAY rsspes. Credits.
II is rot lhsss fsndem happy though,
Ha.zn nnnaan 80 Haa.
when IN. s,shsnss market has fi,.d rs
s3s. hut the board Of international ga
psrts who. for two or three weeks past
hHye hssn working On tho proposals for
Genoa a. the British beard af trade. Now
GENES the ssmi'nfficiai intimstion. pub
iishdd IN the London papers. that tins
hoard nf experts viii propose tho granting
Of credits 10 eastern and central Euro
pssn countries which are prepared 10
offer security" aud that the character
of the security must vary In accordance
with the financial aud economic eondi.
tian Of the country" This program. ssps-
market. will introduce into the discussion
the element Of practical common sense
quite M the opposite pole from the
imaglnin.s Of the fassei group.
The stock exchange tndulged IN an.
other million share day" the seventh
such achievement in the five-hour business
days, Prices went higher. though with
irregular reaction In the later hours That
kst of this character: II reflected. first
the large purchases against "orer sun
day orders at the opening and next the
professional sales on the subsequent rise
Of prices.
Increase In Orders.
To tho markets carly strength the
steel corporations monthly statement of
orders on the books was u contributory
influence The Increase In March was
555. 600 tons. ths first increase since De-
cembsr. and the largest which has oc-
CURED In any month since April, 1920.
Railway shares moved less actively than
at the end of last week. and their net
changes were small. The weekly ear
loading figures. whose publication had
been delayed. showed for the last week |
Of March an increase over 1921 OF 15s.- |
4ss cars. or 2Si. per cent For the whole !
of March the increase II 1sA pcr cent. |
as against an increase OF something like |
Of the pace must now be an
with traffic from the coal mines
largely stopped.
Although Liberty bonds did not touch |
the seasons highest prices, nearly half
dozen Of the foreign government loans
did. among them the new Czecho-Slova-
khan SIS and the United Kingdom 5i7s with
the shorter maturities. Todays London
bond market was in some ways more in
teresting than our own. The war loans
and the old consolidateds moved up
bringing them to
points above their prices of month ago.
A sharp advance in the wheat market.
carrying the May 4Sc above Saturdays
cause It was admittedly based on foreign