The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-09-14
HIGH PRICES HELP
TO MEET SHORTAGE
Every Other Industry Shows
Figures Never Before
Attained in Nation
Experts All Agree That Cotton Crop
is Not Sufficient to Meet the
Worlds Demand for the
Staple
BY HOLLAND

BY HOLLAND
| New York, September 3-(Special. I'm
one respect, and one alone, there is I'M
Reproduction throughout the United
States. The best Information obtained By
| leaders in the financial district reports
that substantially all of the Industrial
| companies of the United States have now
! reached the limit of their capacities. If
they are taking new orders, these are ac-
cepted with the understanding that the
commodities will be manufactured and
delivered at the earliest opportunity.
| A condition of this kind throughout the
| United States represents unexampled
prosperity. Probably there never was
a time when all of the industries Of this
country were so completely occupied as
they are at present. This is true not
only of the Industries which are manu-
featuring materials of war, but also Of
the industries whose output is purchased
by American manufacturers, merchants
and farmers
Another interesting feature of a pros
perity which did not begin until year
and half ago is the fact that, SO far as
is known, profits continue to be excellent
| notwithstanding the prevalence of high
prices There is, of course, point in the
scale of high prices which, if 1t he
| ached, will tend to limit consumption
but that point is distant.
One of the reasons why 1t is believed
that the maintenance of high prices will,
not materially affect consumption is found
in the fact that the belligerent nations
must continue to buy war materials and
other commodities in large amounts. And
as the necessity for purchases of this kind
lis imperative, they must pay the prices
the American manufacturers ask
for the commodities. The presumption is
that the demand for raw material will
not only be maintained, but will be in
creased each month for at least the next
u months.
The one commodity in which there is
depreciation or falling off in production
is the crops of the United States. This de-
probation Is in great part due to climatic
conditions, although in some parts of the
country especially the remote northwest,
the farmers are believed to have peen a
little reckless in their cultivation of wheat.
If the production of wheat this year
matched the output of American indus
considerably in excess of 1000, 100000 bush.
els of wheat. Instead of that, the harvest
will be not greatly in excess OF 900 6)0,v0d
bushels. If it were not for the possession
of considerable SURPRISES of last years
crop this harvest might cause embarr;lss
ment, for it would not provide enough for
export.
So, also. with corn. In the spring.
some of the estimates fixed the amount
TO 1o l,o cd &c ,ar Of
approximately 100000 900 bushels. The
latest estimate puts the harvest at about
300, 900, 900 bushels less than this high fig
ure There will be qualification if the
farmers harvest 2,70o000,000 bushels Of
corn There is also considerable falling
off in the harvest of cotton although
the planters may receive such high prices
as will go far toward offsetting the small
crops. The one crop which has been sat
sfactory is hay, of which 100000 tons
will be cured, most of it having been al
ready harvested.
There will be renewed interest in the
comparison of the money value of the
hay crop and that of the cotton crop, eX-
elusive of the by-products of cotton. The
chances are that the hay crop this year
will prove to be of larger money value
than the cotton crop, although this can
not be accurately known until the plan
I6TS nave received pay LOT Their HARVEST.
1t would have been regarded as re-
markabe phenomenon had the harvests
of this year matched those of 1914 and
1915 Had that been the case the United
States would have harvested agricultural
products of a money value considerably
in excess of $4,000, 900 900, What the
money value of the harvest this year will
amount to cannot be known until the
crops have all been marketed.
M t. IL H.,
vesting a wheat crop below the average.
Last year. our own harvest of wheat
added to the worlds harvest, made the
largest record ever reported considerably
in excess of 4,O00.000.00o bushels. Those
who have given study to the worlds
wheat harvest say that the aggregate
this year will be nearly 1000, 100000 BUSH
els less than the aggregate for 1915.
ENGLAND'S EXPORT TRADE
Early in September, the British Board
of Trade reported that the exports for
Great Britain for the month of August
were increased by nearly $75,000,OO0 in
comparison with the exports of a year
ago. These figures show that Great Brit
ain, Notwithstanding the magnitude of
her industrial occupation in making mu-
nitons Of war, is nevertheless striving
to maintain some part Of her world
trade. For the United States the most
interesting detail of the British foreign
trade report is the statement that the
exports of cotton fabrics in August in
creased by nearly $25, 000, 900. Great Brit
ain did import about s15,O000OO worth of
cotton. Much of this came from the
United States. Evidently her textile fac
tories are well occupied and presumably
will continue to be well occupied for an
other year. Therefore. Great Britain will
be large importer of American cotton
The cotton of the south was impaired
by weather and other conditions so
greatly that there is now no chance of
any Improvement. Frequent comparison
is made with the conditions of the cot
ton harvest as they were in 1909 In that
year. only a little over 100000 bales
were harvested. There may be a slight
excess over that figure in the harvest
Of this year Possibly the European war
is in part responsible for the poor har-
vest OF cotton in the south, for it is re-
ported that there was lack of fertilizer
The tropical storms did some damage in
the south, and on the whole climatic
conditions Nave not been very favorable
AL L