London, By Mail:—The first six months "of war have decisively changed the functioning of the European commodity markets. Germany the world's largest commodity importer, is virtually cut off from overseas sources, although minor supplies reach the country through Russia and Italy. Berlin's agreements with contiguous neutrals are now complete, but transport difficulties have curtailed deliveries, states Hour Heyman in the "New York Times.
Imports by European neutrals were heavy in the first two months of war but later were sharply curtailed by the Allied control. Some neutrals have concluded trade agreements with the Allies, but the rest still are negotiating. These agreements allow adequate imports for domestic needs, but limit re-exports and stock accumulations. Neutral overseas purchases thus are likely to be limited for the duration of hostilities.
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