New Britain herald., 1922-12-11

missioner at Manchester, England
as follows,
Tie marketing Of wheat IN the tutur
will be characterized by much uneeTtAinf
regarding consumption and prices Man,
countries 10 the continent Of Europe vii
be rorsly N need Of shesi, but u ~ no
SHOWN how they can posnbl, pay ioI y
n shippers are reluctant to export 10 coun
iries with dubious funds, naturally 'hsf'
will be 40 much the larger quaniiiy on one
10 countries whose credit 10 sound. Will
the consequent effect upon prices
Grain Congestion
The marketing situation in the
west has been complicated by Z
congestion of offerings at the
country railway stations beyond
the ability OF the railroads to han.
die II. The congestion seems to
have been the worst ever known
over 400 country elevators in Kan.
sas being at one time closed be.
cause their bins were full. But the
congestion has not been simply al
the railroad stations in the west,
but all along the route TO the sea-
board.
The Northwestern Miller says
that millers in Minneapolis have
been paying premiums OF TO 10
cents per bushel for wheat in cars
that could be re-routed Eastward,
and employing carpenters for re-
pairing out-of-order cars.
One milling company has had 4
crew OF about one hundred carpen-
tiers at work, and estimates that
each car il gets is costing the COM
pany fifty to seventy-kyc dollars
for repairs. Grain dealers, partic-
ularly exporters, have had great
losses through failure to fill 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 to ton cents per
buslel below the normal parity
with prices a. the scaboard and in
Europe. Ocean transportation is
abundant and rates down to about
pre-war level.
II 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
,Iuly.l to November II. 1922. were
220.h05.000 bushels, against 244,-
975.000 bushels in the correspond
ing weeks OF last year. and Of other
grains about the same as last year.
Exports of United States wheat.
including -four as wheat. in Dc
tober were l8.2S2,l40 bushels
against lS.205.ooo bushels in Oc-
tober. 1921: same July to Octo-
Der 81, 1922. ll4,97J,000 bushels,
against l6l.572.000 bushels in the
corresponding period OF 1921 and
1881. 900 bushels in 1920.
Furthermore. it must be consid-
cred that If all the grain offered a.
stations in the last three
months had been promptly moved
to the terminal markets, prices OF
the latter might not have been s.s-
tanned at the figures that have
ruled. and even Liverpool prices
might have been affected,
The cotton crop is short. not
over ln,0O0,000 bales. and prices
are more than double the pre- war
level. The worst OF il is that until
some way is discovered Of master
ing the boil weevil, we are des-
tined to. have short crops and. high
prices. The short crop. OF this year.
is not due to small acreage, or an
especially. bad season. but chiefly
TO the insect pest.
Mn Railroad Situation
The value of railroad stock, has
suffered a m,riied decline IN. the
past month. which IS generally at
iributed, to the results Of the re-,
cent election. and the strengthen
ing OF the anti-railroad element in
Congress. it'is suppoted that the
frat effort. by this element Viii be
for the repeal Of TIN. .so-called
guaranty clause of the Esch-
Cummins law, WHICH directs the,
Interstate Commerce Commission
to so adjust rates as to yield a fair
return upon the value Of aggregate
in railroad oroperty.
4. 4