The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1922-12-28

missioner a, Manchester England
as follows:
Tie marketing ~ wheat IN he futur,
vii ee eharaeierizei BY much uncertainty
regarding consumption and prices NAM
countries 40 the continent of Europe val
b sorely ln need ot wheat. but i is moi
known how they can possibly psy Tor a
II shippers are reluctant 10 export 20 coun
tires With dubious funds. naturally there
VII Be 20 much the largef quantity on offer
60 countries whose credit Is sound. with
the consequent effect upon prices
Grain Congestion
The marketing situation In the
west has been complicated by a
congestion Of offerings at the
country railway stations beyond
the ability Of the railroads 10 han
die II. The congestion seems to
have been the worst ever known,
over 400 country elevators in Kan
sas beng at one time closed be-
cause their bins were full. But the
congestion has not been simply at
the railroad stations in the west.
but all along the route 10 the sea-
board.
The Northwestern Miller saws
that millers in Minneapolis have
been paying premiums Of 5 10 10
cents per bushel for wheat in cars
that could be rc-rouied Eastward.
and employing carpenters for re-
pairing out-oi-order cars.
One milling company has had a
crew Of about one hundred carpen-
tiers at work. and estimates that
each car u gets is costing the COM
pany hfty 20 seventy-hve dollars
Tor repairs. Grain dealers. partie-
ularly exporters, have had great
losses through failure TO hll con-
tracts on account OF the car situ-
alton.
The effect Of the blockade has
been TO keep the price Of wheat in
this country SIX 10 ten cents per
bushel below the normal parity
with prices at the seaboard and in
Europe. Ocean transportation is
abundant and rates down 10 about
level.
IL must not be supposed, how
ever, that the railroads have not
been moving large quantities OF
grain. The receipts OF wheat at
the twelve primary markets" from
July ] 20 November IL. 1922, were
go COS. 900 bushels. against 244.-
97S.000 bushels in the correspond
ne weeks al last year. and OF other
grams about the same as last year.
Exports OF United States wheat.
including -four as wheat. in Oc- ,
.obcr were is.2S2.i40 bushels
against is20s.oo6 bushels in Oc-
ober. 1921. same July TO Oc,o-
Der 81. 1922. li4.97s.0O0 bushels.
against l6l.S2.o00 bushels in the
corresponding period OF 1921 and
1851 600 bushels 10 1920.
Furthermore. IL must be consid- /,
red that 4 an the grain offered al
'silway stations in the last three ,
months had been promptly moved !
. The terminal markets, prices OF +;
he latter might not have been sus- :
ained AZ the hgurcs that have
ulcd. and even Liverpool prices ,
night have been affected.
The cotton crop IS short. not Z
'ver 100000 bales. and prices :
re more than double the pre-wzr :
rvcl The worst Of Il is that until :
ONE way IS discovered Of master /,
ng the boil wccvil. we are des- !,
ined 70 have short crops and high
rices. The short crop OF this year !
, not due 70 small acreage or an :
specially bad season. but chiefly !
o the insect pest :
Railroad Situation
The value Of railroad stocks has n
a marked decline in the 4
7st month. which is generally at $
rbuted 20 the results Of the re- a
eni election. and the strengthen RI
x OF the snii-railrozd element in y
'ongress. IL is supposed that the v
rsi effort BY this element will be o
y the repeal OF the so-cziicd b
guaranty" clause Of the Esch- L
'ummins law. which directs the II
Interstate Commerce Commission c.
D 50 adjust rates ss 10 yield a fair n
sturn upon the value OF aggregate \
,rssiment y railroad property. e