The daily times. [volume] (Wilson, N.C.) 1902-1936, 1919-03-24
BRIGHTER TONE IN
SEED INDUSTRY
The Conference in Washing
ton Results in More Optim-
ism. Hoover Orders
22,5 100000 POUNDS LARD

Raleigh, March 24-K w. Bar
! riculture and John Paul Lucas, ex-
ecutive of the Food Administration,
| returning from Washington yester-
day brought an optimistic report
from the cotton OIL refiners, cotton
seed crushers, cottonseed dealers,
farmers and Food Administration
officials held at the Food Admins
tration office at Washington on
Wednesday.
There has been rough shedding in
the unanimous opinion of those in
attendance at the Washington con-
ference that the turning point has
been reached and that from now on
there will be a steady and increas-
ing demand for crude oil and oil
products. A brighter tone prevails
throughout the industry.
There is still necessity for pa
tience on the part of crushers, cot
tonseed dealers, ginners producers
who have not been able to move
their products as rapidly as they
would like. According to Mr.. Lucas
the facts are clear and simple and
are these:
Cd Crushers are not going to
take cottonseed any faster than they
can dispose of the oil from the seed.
(2) Refiners are not going to
faLo orudo From, tho or,cbor. aru
faster than they can dispose of lard
compound and refined oils.
Two days previous to the confer
| ence Mr.. Hoover had sent an order
for 22,5OO,OOO pounds of lard COM
pound. This huge order was allo-
Gated among the various packers
and refiners. The 1ef1ners and pack
ers in turn are placing orders for
crude oil with those oil mills which
are in greatest distress, and the oil
mills in turn are purchasing addi-
tional seed. Mr.. Hoover announc-
ed in his cable that other large Or
ders would follow, this practically
assuring steady movement of oil
products and complete relief to the
| industry, every factor of which,
from the farmer to the refiner, has
been under burden of uncertainty
and anxiety during the last few
months.
Other significant and encourag-
ing facts are these: Hog lard has
advanced in price during the past
two months from 22c. to 28c per
pound. Hog lard packers are sold
up to 60 days ahead and are quot
ing no hog lard for immediate de-
livery, and, in fact, they are tempo
rarily urging the use of lard COM
pound. Stocks of cheap imported
soybean and peanut oil have been
largely exhausted and Domestic
bean and peanut oil have advanced
rapidly in price during the past two
weeks. Corn oil has advanced from
TIC. to 21c. pound in the past ten
days and manufacturers of this pro-
duct are bversold already.
The entire afternoon session of
the conference was devoted to dis
cussion of the matter of allocating
orders for lard compound and 9TH
er oil products among ref1ners and
packers, and of crude oil among
crushers. The discussion hinged
upon the following resolution which
was introduced at the beginning Of
the session by Mr.. Lucas:
Resolved that it is the sense Of
this Conference:
"(1) That the United States
Food Administration in allocating
orders for lard compound and re-
fined oils should place such an or
der, insosofaras ppossible, only with
those concerns which are actively
| in the market for crude cottonseed
oil or who will agree to purchase
crude cottonseed oil sufficient to re-
place the stocks sold; or with those
who by their records can show that
they have already shouldered their
share OF the burden.
"(2) That In allocating orders