The Washington herald., 1914-09-15
new YORK FIRM
HELPING COTTON
Us. Bache & Co. Offers Serv-
ices Free to Assist Buy
a-bale-movement."
WEST EXPECTING BOOM
Wheat Sales to Assist Banks-Local
Change Governing Board
Meets Today.
WEST EXPECTING BOOM

The diminished demand for American
cotton, resulting from the war abroad.
may compel the planters to carry over a
considerable part OF this years crop,
estimated as likely to exceed 15,0O0o0O
bales, until consumption revives. Efforts
have been made by the South TO induce
a general public buying Of the commodity
in order to reduce the surplus.
The stock exchange firm OF J. s. Bache
& Co., of New York, has decided to ofter
its services In the purchase OF cotton
without charges. except those necessary
to cover the actual cost OF the transac-
tion. The firm has issued the following
circular and appeal. q copy Of which
reached here today:
"As a result of the European war, our
country faces q temporary surplus OF
several million bales OF cotton. The price
Is already below the cost of production,
and the prosperity Of the whole country
Is affected. cotton being the mainstay OF
our gold reserve.
Cotton does not deteriorate with age.
It can be insured for its fun value.
Every person with public spirit in his
heart and the price Of one or more bales
Of cotton owes II to the whole country 10
buy one or more bales Of cotton, and,
moreover, We unhesitatingly recommend
it as q safe investment.
me COST one Ddlet weighing dp-
proximately 800 pounds, will not be in
The cost to store and insure one bale
for twelve months will not be in excess
Of cent per pound.
President Wilson has set the example
by buying one bale OF cotton, so II Is
reported in the public press.
"It is our belief that many whose at
tention has already been brought to this
situation would be inclined 10 show
their patriotism by helping along In the
movement; but they are unfamiliare with
the commodity, and owing to their not
knowing how to go about il. are pre-
vented from doing their share.
I'VE therefore think that this Is an
appropriate moment for US to offer our
facilities to the public to start this
movement in q serious, buslness-like
manner.
1T is our intention to make no charge
whatever for our service in buying this
cotton, nor for the work which will be
done by our clerical force; any actual
expenditures on our part will naturally
be charged to the cost of the cotton. 1t
is our opinion that some OF the larger
corporation may be induced To help in
this movement by furnishing free stor-
age facilities This would considerably
reduce the cost Of carrying this cotton.
I'VE will do everything that We can
to help make this not only a patriotic,
but profitable movement and we sug-
gest that all who sympthiZe in 1t shall
forward their money to US in sums OF
not less than $50 each, and when pur-
chases have been made. and when pur-
obtainable. they will be reported, and any
surplus funds over the actual cost will
be returned.
Tn, IfdNFfdafinp Nha r0ftnn Cngf
which may have arisen against the same
in the way Of insurance, storage. etc,
will naturally be charged"
West Expects Boom.
The return Of dollar wheat has given
an impetus to confidence in business for
the next three months throughout the
Middle West. Farmers who were holding
their wheat, both because they expected
higher prices and because Of the uncer-
tainty in shipping facilities, are now
hurrying their thrashing and trying to
get their grain on the market before
there comes a break.
The banks, which had been unable to
make large collections during the late
summer. are now looking forward to
having their loans reduced rapidly, espe-
cially all notes carried on account of
farmers. Bank examiners have been
lDtEdl d4IOHlHB hGdNS AO1lA6 VI AAAA5
kind. knowing that there was back Of
them grain worth real money and in
creasing in value daily.
II, as is estimated, Kansas alone has
yet some $4,000, 900 bushels of wheat in
farmers hands. the increase OF 30 cents
a bushel from the low price of last July
means an enormous gain. nearly equal
to the entire receipts of the wheat crop
in an average year Of the past decade.
=. 81. Az-
pecting liberal deposits and plenty OF
money later in the autumn. 1t is ex-
pected that October and November will
see the banks in easier condition in the
country sections than in corresponding
months in several years.
Brewers Never Shirked.
The United States Brewers Associa-
ton takes exception to the statement sent
out from Washington on Friday to the
effect that when the Spanish war tax
creased the price on beer 81 keg where
as the tax was only 80 cents and that
when the tax was removed the price
Of beer was not reduced.
"As a matter of fact and official rec
ord" said Hugh F. Fox, secretary OF the
association, ''the Spanish war tax was
81 and not so cents. The brewers paid
tax Of % per keg on beer. instead of
the usual tax OF 81. Most of the brewers
stood fully 40 per cent Of this additional
tax personally, placing the remainder on
the trade, and In every instance. when
the tax was removed, the price Of beer
was Immediately reduced.
when the Spanish war tax was under
discussion, it was stated on the floor of
the House that the brewing industry was
the only industry that did not protest
against the increased tax, but freely Of
fered to aid in raising the amount