The New York herald., 1921-07-26
CANADA PREPARING
FOR GRAIN HARVEST
Financing Western Crop Do
minion's Task of Para
mount Importance.

Special Despatch to THE New YORK HERALD.
MONTREAL. July 25.-The matter OF
financing the coming wheat crop or
western Canada is the topic OF para
mount Importance in the Dominion.
With every indication pointing TO the
martial closing of the United States
market TO Canada's wheat this year. the
burden of the problem will rest with
Great Britain. The final arrangements
in that connection are not definitely
known. but it is presumed that little
difficulty will be encountered in the
matter ana that the new grain Will move
forward as steadily as it has done in
the last year.
Reports from the West continue Of
hopeful nature. although some sections
still report prevalence of the dreaded
black rust At the same time those re-
ports are being exaggerated by specu-
lators. 1t is reported officially that In
Saskatchewan no black rust has been
found except in isolated sections in the
southern part of that province.
The harvest is being prepared for and
probably will be general throughout the
West by August. No fears are held out
of a shortage of labor. 1t Is estimated
the operation. The major portion Of
them will be supplied by the East, thus
relieving to a large extent the unem-
ployment situation. Excursion trains
will be started by the railroads as soon
as required
The situation of the steel companies
has changed little in the last week. The
outstanding deterring force at the
moment is the high cost of coal and high
wages. 1t is impossible for most COM
panies to operate their steel plants
profitably until costs make further de-
clines. The necessity of reducing the
cost Of coal production in the East Is
slowly being realized by labor. The coal
companies operating in the eastern
Canadian markets are meeting smart
competition in distressed coal from the
United States and consequently their
sales are reduced.
In view Of the drastic manner in
which the United States Congress has
treated the matter of tariffs, numerous
predictions that Canada will adopt
next year much higher tariffs are be-
Ing made. Such action would have
been taken last year by the Finance
Minister but for the fact that he
preferred to base Canadian rates in
keeping with those adopted by the
United States.
The fact that the Canadian Car and
Foundry Company was able to an
nounce last week $4,000, 900 order for
oil tank cars placed by the Russian
Soviet Government created consider
able interest. 1t Is the first substan-
tial order placed by Russia in this
country since the cessation Of hostili-
ties. but it is predicted that more such
business Is available to Canada If the
manufacturers will go and get it. In
the matter of payment it is understood
that it will be done direct through
gold shipment until Russia will have
piled up a sufficiently large credit in
America, which she hopes to do through
expectation of her Black Sea oil The
company will complete that order in
November.
The reverses which the theatrical
business in Canada is suffering is IL
lustrated by the fact that the dividend
on the preferred stock of Loew's Thea
tres, Ltd, Toronto. has been passed.
That companys common stock dis
bursement was cut out late in 1920.
Theatres throughout the country are
having more difficulty in meeting ex-
penses, and many cities have a large
surplus seating capacity. That situa-
tion will do much to kill business
which has been most flourishing here
In the last five years.