The Washington herald., 1914-08-30
GREATER AREA
TO BE PLANTED
Western Farmers to ATTEMPT
to Raise Wheat on Immense
Scale This Winter.
FOREIGN HOLDINGS BIG
Authority Estimates American Stocks
Abroad at Five Bilions-Sep-
TENDER Cotton Contracts.

With wheat selling during last week
at the highest Level In more than two
years, there is no little enthusiasm over
business prospects in the great wheat
districts Of the Southwest
Ransa, Nebraska, Oklahoma, and Mis-
souri, alone have wheat crop Of 27.-
10000 bushels this year. Probably no
more than 100000 bushels OF the grain
were sold before the recent rise began.
An advance Of, say, . cents, therefore,
has added fully 81, 10000 to the value OF
the crop held by farmers in the four
States alone.
Notwithstanding the high prices now
prevailing. there is no tendency among
growers to rush wheat TO market. Pro-
dAcers appear 10 be generally bullish.
Many are expecting the market to adj
vance to a level that will enable them
to obtain $50 or more on farms in the
near future.
The extraordinary rise in the market
already is stimulating extensive blowing
Of fields for winter wheat and indica-
tons now are that the acreage planted
to the crop this fall will be fully as
large. IL not larger than the immense
area Just harvested Recent rains have
put the soil in excellent condition for
blowing. Millers in scattered portions
o. the Southwest are urging farmers to
extend their wheat acreage, pointing out
to the growers the probability of ex-
trsmely short crops in Europe next year,
owing to the lack OF labor for blowing
and sewing in the countries now at war.
Grain experts say Russia and Rou-
mania are expected to resume wheat
exporting very soon. 1t must be re-
membered that Russia is cut on from
Germany, her second-best customer,
and. therefore. will have more wheat
than usual to sell to England and
France when her railroads and river
boats are able to handle II. Any en-
barge on exports VIII apply only to-
trade with Germany and Austria, and
there is every reason to believe that
Russian crops have been fairly good
The Russian system provides for the
care of crops in war time more per
fectly than is possible in any other
country. Russia can put 100000 SOL
diers in the field without reducing the
volume of her agricultural products
through scarcity Of labor.
FOreIEn stock Holdings.
Having most important bearing on the
date when the stock exchange may re-
open is the extent Of possible European
liquidation Of American securities What
the amount Of American securities in Eu-
rope may be has Seen estimated at va
Tious intervals. some Of the estimates
naming more than IS, 900 900 900. par value.
Nobody expects the sale Of more than
q fraction Of so vast an amount. even
in the greatest emergency. but the ex-
tent Of possible selling forms the base
OF much conjecture.
As an indication Of the securities which
Europe might sell. II il chose to clean
itself absolutely OF American issues. some
very significant figures were presented
yesterday by the Wall Street Journal
These figures showed the amount Of
ment, Of four representative corpora
tons. One Of these corporations was
the American Sugar Refining Company.
OF SO,OO0O 900 sugar stock outstanding. Eu-
ropean holdings on June 30 totalled S1S2,
500 Delaware and Hudson was another;
of S42.50O.0o0 stock outstanding. Euro
pean holdings on June % were S2sS. no.
alarm in the possible liquidation from
abroad in these issues
Partial figures only are given for the |
Reading Company; 1t is shown that Of
6, 700 stockholders registered on that COM
pany's books on June 30. no more than |
as were European. This means that s |
per cent of Readings shareholders are |
foreigners; applying this Percentage to |
the total amount Of Reading stock in |
existence, would signify a total OF S, 4OO.- |
600. since Readings stock issues amount |
In all to S1400OO.OOO.
The fourth corporation of the list is the |
Pennsylvania Railroad The total OF |
Pennsylvania stock is S4s9. 265. 900; of this |
European investors held $4,000 on |
June %. Here is an impressive amount |
of stock which might be sold. But after |
all. the question, is presented whether |
Europe would choose TO sacrifice one Of |
the best railroad stocks in the world. |
merely in order that it might obtain |
ready cash.
September Cotton Contracts.
Announcement was made yesterday |
by z. K. Cone, president of the New |
York Cotton Exchange, that notices |
for deliveries of cotton on September |
contracts in the New York market
could be, started Monday, August 81.
OF course, deliveries can be made only |
on sales of September contracts which l
were made prior to suspension OF busi-
ness on the exchange July 81. It Is
not believed that there are many such /
outstanding as September Is
not as a rule a month of large de-
liyeries, so that few notices are ex-
pected. Deliveries on such contracts
car De continued at the sellers option |
the month
Contract stocks of cotton in New
York total "a, S5S bales against $4,000 |
on. August FL The total stock in IL
censed warehouses Is 71,712 bales, COM
pared with 96.103 bales a week ago.
Aside from President Cones an
an authority gives a con-
dition report which makes the average
ST.. II this is correct it
represents great Improvement in the
condition of the crop during the past
month for the governments report as
Of July rs made condition average only
1914 per cent. ~
CRbnn Bills of LadIng.
After series of meetings the past
Tek. during which the subject was con-
'idered and discussed from a number OF
the railroads in the Trunk
Line Association have decided to at once
resume the acceptance. Of through bills
" ladfng 10 Cuba and Porto Rico and
Ill European ports. and lines in the West
nave been duly notified to this effect.
With respect to the Cuban bills the ac-
,eptanees will be without qualifications
TO all other ports they viii be subject
% certain war clauses and in all in
stances prepayment OF inland charges will
De required, this being exacted BY, the
steamship lines and not the rail carriers
The present rate Of exchange as named
n the bills will be ignored. agents be-
ng instructed that they must Insert This
o correspond with shat II Is on the
lay the bills Of lading are issued. the
to be ascertained from the