FALL IN COMMODITY PRICES.
Not the least interesting development of the past week has been the publication of figures showing a further general decline in wholessie prices of commodities. The Economist index number, which has long been regarded as the standard number in this country, shows a further decline of 107 points for the month of June as compared with the end of May, and on this occasion the Pall appears to have been connected with the general Nmakness of the industrial position accentuated by seasonal reductions in certain commodities. The index number for the month is 4,351, which is the lowest point touched since October, 1923, and for the past six months there has now been a fall of over 500 points. The general level of commodities, it may be noted, now stands at about 69f per cent. above the pre-War level which compares with a rise at one time shortly after the Armistice of something like 2257 per cent. Even the present level, however, does not touch quite the lowest point reached since the Armistice, which was in July, 1923, when prices were only about 63 per
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