The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-06-19
Business-Industrial Resume.


~ FIRST part Of the week with interested groups in
the grain industry agreed upon plan OF marketing
and financing designed to be OF far-reachng beneht
The plan deals with the making Of storage GER
thcates available the farmer thus giving him greater
financial mobility Various farm organizations. eleva-
and grain Dealers insurance companies and other
interested associations represented.
All parties to the conference considered the plan
practical and to promise great advantages. II was
agreed that the plan requires Federal legislation
and differs entirely from all Others hitherto proposed
revoves upon insurance OF the certificates as to
quantity and grade by the liability companies and
provides freedom Of movement of commodities from
local to terminal wareh sses congestion requires
1t supplements and in way replaces or, completes
with the farmers cooperative storage and marketing
plan. The will be developed in detail by each
Of the interested groups
. Our Trade With Russia. (.i..
Trade between the United States and Russian ter
rory controlled by the Soviet is increas
ing steadily according confidential advices received
in official channels. Owing to the position Of the
American government. Withholding official sanction of
trad: with Russia until alleged conditions have been
complied with by the Soviet authorities and also to
the disturbed economic situation existing in Russia
the total volume IS far below what it should be:
Although private trading between the United States
AID Soviet Russia has been permitted for consider
able period of time only limited trade has developed.
according the advices received The bulk Of ship
ments between the two countries classified as
COAL leather goods. sanitary supplies flour and other
food commodities
Weather Hurts Crops
An analysis of the government crop report for
june by the Bureau Of Crop Estimates shows that
there has been radical change in crop reports in this
country Unfavorable weather is largely responsible
for reductions in the estimates of crops both. in the
United States as whole and in the State Of New
York
month ago it looked as il the favorable weather
which had prevailed up to that time would result in
national crops rather larger than the AS the
quantity Of hay and grain held the farms far
greater than usual large supply Of farm products
seemed improbable. and in consequence prices of
nearly all farm products dropped heavily.
During May; however, the weather was unfavor-
able in many Of the important States and the
forecast Of the winter wheat crop dropped 100000
bushels, per cent The forecast of the hay crop
declined to the extent Of 100000 tons, indicating
total supply only about equal that of last year
Oats and barley also in rather poorer condition
than usual
This change in prospects has checked the steady
> decline in the farm prices of grains and on june
they were all higher than they the previous
month The same is true Of cotton and few other
products This in itself will do much to encourage
Mmcrs who have the price of grain drop steadily
month by month since June of last year The latest
figures the farm prices of livestock and livestock
products are for May IS. On that date these items
again showed general decline compared with the
preceding month
Cotton consumed during May totaed 43oss4
bales, compared with s4I.377 bales during May last
year, the Census Bureau announced last week
OF this z6S. 1871 bales were consumed in cotton
growing States, compared with ,ro,sr6 bales during
May last year.
Other comparative figures for this May and last
May were: Held in consuming establishments May
ST. I77o3I4 bales this year, I6oS833 bales last
held in public storage and at congresses %73o,85I
bales this year. 2s86s6s last year. imported. Io4s2
bales this year. 1907 last year; exported. including
tntcrs. 473o4o bales this year. ,64.oo4 last year
Lintcrs consumed this Nav totaled 47.3os bales
szo72 last May; held in consuming establishments,