Evening star., 1924-11-27
LOAN STAb|L|zES
F|NLAND'S MARKET
Timber Sales Gain, Prices
Hold Up as Result of
Credits From U. S.

The condition of. the money market
in Finland has undergone some i'm
provement as a result of the $7.000,-
900 loan to Finnish municipalities
made by the National City Bank dur
ing October. and the demand for
foreign exchange has diminished re-
Gently, according to cable to the De-
partment of Commerce from Assis-
tant Trade Commissioner Kekich at
Helsingfors. Another. cause for the
easement of the money situation is
found IN the fact that the Bank of
Finla. has recently succeeded in
obtaining s10,000,000 credits for Fin
nish exporters with American banks.
The extension OF these loans is of
considerable importance to timber
exporters, who for some time past
have been obliged to cope with one
of the most depressed timber markets
Of recent years. The $7.000,000 loan
to Finnish municipalities is likely to
be followed soon by a $4,000, 900 loan
for the power plant project at Imstre.
Much Timber UnsoId.
Timber sales have Increased con-
siderably of late following the col
lapse, of the sellers resistance to the
efforts of buyers to lower prices. By
the end of the first week in October
sales from Finland were estimated at
740. 900 standards U.465,200 NJ. board
feeD. Despite the increased sales of
timber the past few weeks. which for
the most part have been effected at
prices Instantaneous to the saw
millers. it is estimated that fully 200,-
coo standards of this years produc
ton will remain unsold. A restriction
of operation has already been agreed
upon. by several sawmill owners, and
the general opinion is that the telling
of timber for 1925 production will
have to be limited by % TO 80 per
cent. 1t is feared that so consider
able a restriction in the output of
Finland's foremost industry will
cause serious increase in the
amount of unemployment.
The market for both paper and
pulp continues lively. Pulp prices
are firm and even show rising
tendency. Prices for paper. on the
other hand. have not followed the
lead of pulp.
PIywOod Market Improved.
Production and export OF plywood
is showing very considerable gains.
The production in the current year
is expected to reach about $4,000
tons, valued at 110,000,000 marks, as
compared with 10000 tons, valued at
so, 100000 marks, in 1928 Market
conditions are very satisfactory.
prices having increased about one
third over last year.
The balance of trade for September
is reported to be even more favorable
than that of August. which attained
195.500,o09 marks. The exact figures
for all of Septembers trade are not
yet available. Exports of butter dur
ing September were unusually lively,
amounting to 544 metric tons. valued
at 20,213,111 marks, as against 2S0
metric tons, valued at 9.S61,2SS marks.
in September. 1923. Exports Of tub
butter in the period January to Sep
tember amounted to 6.346 metric tons,
valued at 2l1,541.6l7 marks. an in
crease over the corresponding period
of 1929 of GIL metric tons in quantity
and of 6,221, ,466 marks in value.
The rye, barley and oat crops have
been gathered and are above middling g
as regards quantity and quality. The
harvest generally is regarded as sat
isfactory.