The Washington herald., 1914-08-13

Thompson on Cotton.

W. B. Thompson, former president of
the New Orleans Cotton Exchange, ad-
Vises the mobilization OF the cotton crop
| by the farmers of the South. He saws
if the crop is moved and marketed in
normal volume the effect will be dis
astrous and believes that the initial step
in any plan of relief should be IAN
insistent and compelling appeal to cotton
producers and merchants warning them
not to offer cotton for sale for the time
being, but to hold back at all costs until
the opportunity has been given to per-
feet measures for relief"
Mr.. Thompson urges the cooperation
of the government in providing Southern
banks with whatever funds will be re-
in suspension. He estimates that such
an amount will be under 100000.
He brands valorization as absolutely
impracticable and says the only safe
and workable plan is for the govern
ment to supply the banks with adequate
funds to distribute in loans on good cot
ton securities. In order to make this
plan effective and prevent surplus cot
ton from being sacrificed either through
ignorance or fear, Mr.. Thompson pro-
poses that at the earliest possible mo-
ment, a conference OF the governors Of
the cotton producing States and repre-
sentative bankers, planters, merchants b.
called; and this convention issue a def
mite statement OF the conditions through
which the situation may be worked out.
A B. Leach and Company to Lewis
Johnson and Company.--There are three
or four German cruisers at present re-
ported in Atlantic waters, and a like
number Of English cruisers have also
been reported. Germany will be greatly
handicapped in her misEion of inter-
rupting commerce on account of the
fact that they lack the coaling facilities
enjoyed by the British We can I'M
doubtedly look forward to a campaign
Of at least some months with the land
forces, but We are in hopes that British
vessels will be able TO clear the trade
lanes. AS soon as this IS accomplished,
our wheat and cotton, which has been
up for export, can be transported to
England and Francs and thus enable US
to materially relieve the principal trade
lines of this country. Shipping at this
port may be said tn be practically at a
standstili. Fifty per cent of the team
sters have been laid off and the termi-
nails are elogged with freight. The out
look for the United States. along none
tary lines, is good. Our Federal reserve
system will go into effect on schedule
date, October L
ACCORDING 10 reports received mere, an
Eastern syndicate headed by G. T.
Bishop. president Of the Washington, Bal
timore and Annapolis Railroad, is about
to take over the Missouri, Oklahoma and
Gulf line and also has in view the pur-
chase Of the Trinity and Brazos valley,
the latter line peing now in the hands
o. receivers, The Missouri. Oklahoma
and Gulf runs through a rich part Of
Oklahoma, and has its Southern terminus
at Sherman, Tex. Between Sherman and
the Northern terminus Of the Trinity and
Brazos Valley is q gap Of about seventy
five miles that will have TO be filed IN
by construction Of an extension Of one
or the other Of the lines or the purchase
OF a connecting link. Mr.. Blshnp recent
~. visited Oklahoma and Texas and made
careful inspection Of the two properties
he was accomnanisd on his TRIP BY o. @.