The Washington herald., 1914-08-07

= ed, and no trouDie IN the nnancial WOrlc
/ is looked for. There appears to be a feel
r lie In the ability Of American financiers
! and statesmen to handle the situation
i without dificulty.
One Of the most important elements
in the situation at this time is the abil-
: ity TO make arrangements for shipping
American products TO England This will
be accomplished, 1t is believed. within a
comparatively short time. Once the nee
essary arrangements have been made
there will be an immediate shipment of
twenty-five or thirty boatloads OF grain to
the other side, il is stated Every ef-
fort Is now being made on the part of
this government and bankers Identified
with the situation to bring about an ad-
1ustment of this phase OF the situation.
1t is understood that the British gov
eminent is making arrangements to in
| sure cargoes consigned to England in
| English bottoms assuming all war risk
on the shipments. This will minimize the
| liability to insurance companies here, and
facilitate the movement OF produce to the
other side for relief OF those who already
| are reported to be suffering from the cf-
fects OF the demoralized state OF COM
merce in England. American bankers are
cooperating with Great Britain in the
matter and all haste will be made in per-
|
The European situation has resulted in
marked increase in the demand for
news print paper in the domestic mar
kets. The International Paper Company's
orders last week showed an increase of
| fully Is per cent over the normal, and
most OF the extra demand took place in
the last three days of the week, when
an increase Of nearly 40 per cent was
experienced. The company's normal
business represents from s. to 90 per cent
| Of full capacity. so that present orders
are running well above possible capacity
output.
So far no demand has been experienced
from Europe, but It is expected that the
closing down Of European mills which
must ensue from the war will result
in such demand very shortly. The main
difficulty, however. in this respect will
be in securing bottoms. The demand from
South American countries with which the
company does a good business usually
has shown a marked increase within
the past few days.
So far there has been no increase in
prices. as all Of the company's principal
customers are covered for the full year
at about 25 cents per pound. 1t is an
ticipated, however. the demand from
other customers will result in a stiffening
OF prices IN the near future.
Trade experts estimate that as long as
the European war continues the demand
for news print will keep up somewhere
between 8 and 40 per cent above normal.
and this will guarantee capacity business
and higher prices for all concerns max
ing this kind of paper. There is no diff |
Guilty expected in getting supplies Of raw
material, as the companies here get their |
material in this country or in Canada.
The Boston News Bureau says: c. c. |
Lane, who has charge of the cotton de-
partment Of Hayden, Stone & Co. has
just returned from an extended trip
through the cotton belt He says:
THE eastern part of the belt is inl
splendid condition. Cotton examined in
the field through Southern Georgia is the
finest crop which that State ever pro-
duced. Progressing South to Mississippi
the crop averaged exceptionally well. In
the vicinity OF Houston the plant shows
some signs of wilt. and the crop through
Southwest Texas is spotted, but as a
whole 1t looks as il the drought damage
had been over-estimated. In the vicinity
Of Ennis and Dallas there are any guam
tity OF fields which VIM produced a bale
and a quarter to the acre. providing, Of
course. the season from now on is a nor
NAL one.
las every one knows, August Is the
critical month in the year and Il is i'm
possible TO predict the size OF the crop
with any degree OF accuracy until we
get some sort Of line on the August
weather. but with average climatic con-
ditions the yield this year will be not far
from our last crop"
Reports from various shipping quar-
tiers in both hemispheres prove that the
worlds shipping is completely democrat
iZed-for the time being-by European
war activities. Incoming ocean passenger
steamers are ordered to proceed without
lights. and as far as possible without
noise. Even in dense fogs commanders
refuse to sound the fog horns. all lights
are extinguished. and port holes are COW
cred over. In British ports all foreign
steamers are being held up, and orders
have been issued from the war office that
any steamer falling to comply with war
regulations shall be fired upon.
Financial Digest says: THE cost of
living factor is again being considered.
Banking interests call attention to the
fat that II shipments Of food products
from the United States are reduced to
minimum the cost OF living will not ad-
vance as it would under competitive for
eign war bidding; so that loss of such
foreign war trade receipts would to
some extent, be Offset by the holding
iown Of prices at home Overbalancing
this consideration. however Is the fact
that If Europe cannot get food products
from America, the combatants will be
literally starved into peace in two
months.
Lewis johnson and Company yesterday !
eceived the following London cable:
The Pail Mall Gazette today prints re-
'orts that heavy selling orders from 5
Germany during the past week or two
II both stocks and cotton were really
deliberate attempt to smash the Lon ,
lon market, and cause a scare in the :
financial and commercial world. so as
o keep Great Britain out of the waS
The paper says that it hears $1,000 600
vas expended or was arranged for to be
expended for this object with the cogni- ,
ance of the German government" !
Randolph to w. B. Hibbs and Com
ans-An interesting fact indicating the
haracter of the buying on Tuesday Is
pat on the morning of that day We sold
600 brooklyn Rapid Transit. When the {
Tearing house returns came in. this stock :
7as all going to Carlisle Mellick & Co.
nd Decoppet & Doremus, who are deal :
RS in fractional lots. Investors and
mall operators had absorbed the whole q
lock. S
1t is announced that the war will not
fleet Tobacco Products Corporation so y
ar as its supply of leaf is concerned.
ha M fvUn 9 q