The Washington herald., 1919-03-15
BACK TO LAND
SLOGAN REVIVED
Farmers Realize Hopes Of
Wealth in Big Crops
and High Prices.

Herbert c. Hoover expects to be-
come a private citizen after July /.
devoting himself TO private business
so that he may earn a suitable in
come. At least this Is the report that
has come from Paris. Therefore II
ne retires on July l he will not be IN
position as Food Administrator to
take advantage Of the harvest Of
wheat In 1919 which may be so large
as TO affect his prediction that the
price Of wheat per bushel may be AS
high as $3.50 bushel.
or course II the farmers can get
$50 a bushel for their wheat they can
ignore the government guarantee OF
f2.$ a bushel. But the wonder is
whether immense supplies OF wheat
can be marketed at this price or even
at the price fixed by the government.
s2S a bushel
Already reports are coming to NeEg
York from various parts Of the coun-
try. especially the Northwest. which
say that there is now fairly good
promise OF large increase in the
wheat, as compared with the amount
of wheat that was harvested last year.
In the far Northwest. especially the
eastern half Of North Dakota and in
Minnesota, the forecast made by COM
wheat acreage OF 10 per cent as com
pared with the acreage OF last year.
OF course this increase reflects the
plea OF the government to the far
mers that they continue to increa Sc
their wheat acreage, but II also re-
fleets the certainty that no matter
what the market price for wheat may
be. the farmers will get S22s a bushel
delivered at Chicago.
Montana Farm Reports.
From Montana come encouraging
reports which serve to increase the
impression that this great State is
speedily to rival in her agricultural
products. and also in the production
OF meat cattle. her mineral indus
tries.
Last fall the farmers Of Montana
planted an Increased acreage of
winter wheat and its harvest prom
ise is excellent. And in Eastern
Montana the conditions are favor
able for n heavy planting Of spring
wheat. The Federal government is
encouraging the farmers OF Montana
by seeing to it that they are well
provided with necessary seed.
There comes to New York today
a statement made by an influential
and experienced banker OF South
Dakota in which he says that the
farmers OF that State are beginning
to turn their attention to stock rails
ing. This may seem strange in view
OF the fact that in 1918 the money
gained by the farmers for their
wheat was greater than any ever
before secured by them. Many
farmers took as high as $4,000 to
. $1,000 from q single quarter OF
wheat land. So also the president
Of a bank OF Minnesota who has
been for years a careful observer OF
crop conditions. reports that in his
county everv available piece of land
will be cropped in 1919.
From other parts Of the country
come reports OF a similar nature.
We hear that Kansas expects TO
harvest . greater rumber Of bushels
OF wheat than before garnered in
that state. So also in the south
the promise OF an excellent wheat
harvest Is now even at this early
season looked upon as encouraging.
Apparently then there may be a
large surplus Of 1919 wheat and Il
there be then il is regarded as
doubtful whether the government
would deem II exDedient to buy the
entire crop at S2.26 q bushel and
then dole II out to the -four manu-
facturer and others at the market
price. For II is reasoned that il
would be cheaper for the govern
ment to pay the farmers the DIFF
ference between the market price
or wheat and the price guaranteed
by the government.
An Unmatched Gift.
Those who are fortunate enough
to own stock in the Texas and
Pacific Coal and Oil company are
to receive, il they choose to take
advantage OF the offer. new stock
for which they will be obliged to
ray only 4 small part of the market
price. This corporation whose ca
reer has been one OF the most ro-
mantle and peculiar of any assO-
ciated with oil production is about
to increase it's capital stock by a
million dollars. II Is to offer to
give to stock holders as many OF
the new shares as they already
hold. That is to say. II a stock
holder has ten shares he can re-
ccive ten shares OF the new stock
by paying a hundred dollars a share
for IT, The latest quoted bid for
this stock Is $3.50. Therefore this
proposition looks like a gift Of the
equivalent of $1,000 to the holders
Of the stock. Nothing like this was
ever known excepting possibly IN
some one or two OF the fabulously
rich sold and silver mining cor
poratiOns.
Undoubtedly the stockholders are
figuring upon what thep can get II
they dispose Of their rights. One es-
innate is that they may sell their
rights for $40 for each share. II
that estimate be correct then who
ever buys ten shares. for example,
would receive S2,400 II he cared to
sell his right.
, Those stockholders who gave heed
TO the warning of President Marston
when bids for this stock began to
Jump from about $50 a share up to
500 or $500 a share will undoubtedly
be gratifed and will hold President
Marston in high esteem. Almost all
Of them did heed this advice. he
earnestly counselled them both by
circular letter and by advertisement
not to part with their stock no mat
ter what bids might be made for 1t.
Since he thus advised, the bids for
the stock have advanced until one
quotation of an offer Of Sl.700 share
was made. OF course If stockholders
sold their stock at these advanced
prices they would not receive the full
amount Of the advance, for the gov
ernment would step In and take a
considerable part of 1t as excess
profits
In days that have passed there
were men at the head Of corporations