DROP IN PRICES

Dominion, Volume 14, Issue 18, 16 October 1920, Page 7

DROP IN PRICES

COMMODITIES FORCED ONTO MARKET

END OF SPECULATORS' LONG INNINGS

By Telegrapß r Preaa Association-Copyright • London, October 11.

Much space in "The Times" is devoted tij the break in prices. The- paper says:

"In onp quarter it is suggested that calling attention, to the fall in the price of commodities will:make-it difficult for holders to market goods at all, but the. public is not likely to waste sympathy upo'n those speculators who turned a deaf ear to the -warnings not to hold back, but to sell even at loss. They would have.' sustained no loss if they had heeded' the advice persistently given by bankers during the past "two years. The fact is that sellers of goods, especially the I speculative element, have had a remarkably long innings,' and the consumer is now hoping that his turn is beginning to arrive."—Aus.-N-.Z. Cable Assn. UNITED STATES "EXPORT TRADE ONLY TO BE MAINTAINED BY , INCREASING IMPOBTS New York, October 14. Mr., Mark. Sheldon (Australian Corn'tnissioner in tho United States) said the time had come for American business men to decide, the momentous question of how to maintain the United States oxpe-rt trade. Foreign gold for. the purpose of paying for American goods is virtually exhausted, and foreign investments in America have been either re; deemed or bought up. . The American exporter, therefore, can accept long-time, notes or foreign Government bonds in payment, but .these are not. liquid enough. The only way out of the matter is for tho United States to increase her, imports to a fair ratio of her'exports, and reduce prices hero for commodities. The United States can well'turn to Ausr tralia for import's finding a good market in America,".thus tending to an cquajity of ! balanco in trade between the United States' and Australia.T-Aus.-N.Z. ■ Cable Assn'. " SLUMP IN COTTON PKICES. * . Washington, October 14 The Agricultural. . Commissioner ,of Georgia has announced that tho South is facing.'a-loss of more than 500 million dollars as-the result of a drop in cotton prices', frorh"forty, cents to"" less than 'twenty cents.—Aus.-N.Z. Cable Assn. PRICES OF AMERICAN FARM PRODUCTS _. \_ ■ REVIVAL' OP WAR FINANCE CORPORATION REFUSED. (Rec; October 15, 9 p.m.) Washington, October 14. The Secretary.of the Treas-uTy, Mr. LV F. • Houston,-.. rejected the farmers' demandrfor a revival of the War Financo Corporation for tho purpose of financing American farm products. Mr. Houston stated that tho Treasury, had no money ■ to lend to'persons wishing to hold products for higher prices.—Aus.-N.Z. Cable Assn. ■ ■