The sun., 1914-08-26
SOUTH WORKING FOR
MORE WAREHOUSES;
Cotton storage Capacity Likely
10 Bc Greatly Increased
This Year.
Insurance RESTRICTIONS
Effort 10 Limit Fire Loss and
Method Of Settling the
Claims.
JNsI RANCE RESTRICTIONS

Interest tp cotton circles yesterday CEN
tr.l un the outcome OF the Washington
conference which, together with sugges-
tors coming from various sources re-
r,rI.ne methods TO increase the South's
warehouse facilities. constitute the most
.ri3or,ar' tasks to be accomplished In the
way of handling the Souths staple crop.
Z, .,,u- Go he a foregone conclusion that
there VIII he no attempt to adopt any
81 ,,Ior.za.ion scheme and that the amount
81 O. r-y to be loaned on cotton will be
.,N '. 'Nr discretion OF individual bank
,-s !. is also assured that safeguards
o.n O., thrown around the distribution OF
,.e emergency currency TO prevent 1t from
bong used FOR other purposes than the
handling NJ cotton and other commodi-
n looks ~ IL awakened public senti-
IN or vii I've fully capable OF dealing with
49, warehouse question, which after all
N trgs.N local matter. Advices from
Texas report numerous mass meetings in
var ous counties. with subscriptions taken
.p frr ,lo building of warehouses. In Hill
court, alone Ave different communities $
eve completed arrangements for the i'm
mediate construction OF warehouses. At
=.
N build a warehouse with 10000 bales
capacity At Mertens, Tex, another
holding o' 5000 bales capacity IL in
,ours. o. construction. II seems safe to
predict that Texas Interior points will
'1rr their warehouse capacity more than
poun-d before the season Is over.
Insurance companies are urging tn
Construction OF warehouses OF capacity
United 10 $500 bales in order to restrict
Nrr 4 ~ tn
snran'e men at conference with
',1k,rs IN that state took the ground
lat The insurance companies would be
,ely TO stand upon their privileges Of
ronaoing cotton that had been burned
instead OF paying the fire loss. The pol
'cv contract also will require records and
provide that the manage re- of warehouses
or cotton Yards shall keep account OF each
h'le Of cotton In their charge. showing
'Ie name OF the owner. the bale marks,
ne weight and the grade
There were no further developments 9
yesterday In regard to the local contract
situation. Exchange officials nre inclined
20 await the coming OF the Liverpool
delegates. who are due here on Saturday.
tnon IN" arrival OF the English commit
'or steps will be taken Immediately 10
come 10 some conclusion in regard 10 the
LIQUIDATION of the straddlc between the
'VO markets. Details OF the way in
which the Liverpool situation was cleared
m Indicate that more drastic steps were
taken in the English market than here.
\ circular which arrived yesterday re-
ported these provisions:
"ND member is allowed TO make ind
viual trades with another and no new
business OF any kind can be- entered into,
al trades being for the liquidation OF old
'riu~g ot!ous. The transfer of all futures
% January February 1915, has facilitated
sueh lquidation tremendously. There Is
no compulsory closing except In cases
w1en the client cannot pay. and OF course
~ all German and Austrian contracts"
william Tattersall In his review OF
Lancashire trade conditions says: "Busi-
."ss IN piece goods has been brought 20
s,ands,il shippers have instructed
r1nutacturers TO stop all deliveries for
me time being All kinds OF arrange
mont- are being made AZ TO contracts on
the books. on the whole mutual for
besrance Is showing itself between the
makers and exporters. II Is thought by
some people that we shall be able TO con-
t'Nue. even II only on restricted scale,
some shipments TO our big Eastern out
ats"
The weekly weather report was generally
regarded ar favorable. The summary says
IN the cotton belt the weather was mostly
favorable. showers over eastern and
northern districts and drier weather
over much OF Texas favored plant growth,
End as rule the crop IL promising.
Ficling ~ progressing over southern
districts. but has been interfered with in
some localities by too much wet weather.
Some shedding Of cotton is reported from
rearly all the states and damage from
.rns' and weevil continues In few