Evening star., 1923-09-05
RICE AND COTTON
J: !. READY FOR JAPAN
Most Of Nations silk Mills
Unharmed-Rush of Trade
With U. S. Certain.
BY j. G. ROYLE.


Special Dispatch to The Star.
NEW YORK, September 5. - Al
though the loss of life and property
In the japanese earthquake and nre
still is uncounted, it is sure that the
empire and its cities and industries
will rise from the ashes with almost
miraculous speed. The immediate re-
sponse by American banks. corpora
tions and individuals to the first ap-
peals for aid has established that fact
without question. SO far as the enect
on American business is concerned, 1t
Is being lost sight of in most cases,
the only regret being that gains
which might ensue should be at the
cost of d sister nation.
This attitude has been exemplified
by the immediate steps to prevent
spectators from taking undue advan-
tage of the demand for foodstuffs.
Four hundred thousand bags of Cali
fornia rice is the prize for which these
spectators now are struggling. This
represents about fourfifths of the
supply most readily available for Jap
aneSe relief 1t is in the possession OF
California rice farmers who are mem
bers of the California Rice Growers
Association and who have been mar
keting their crops under cooperative
arrange
Offering Fabulous Prices.
The spectators, sccenting opportu-
nily are offering growers more than
double the market price which pre-
vailed up to last Saturday to induce
them to abrogate their agreements.
while the association is fighting to
hold the growers in line and prevent
-
dered all sales of rice stopped until
u-->t Saturday, by which time 1t hopes
to ..ave brought to bear sufhcient
pressure to offset the lure of higher
prices.
In addition to the 100000 bags there
are approximately 100, 900 more in the
hands of millerS. Some of this supply
has been bought up by spectators
at prices around cents pound. UP
to last Saturday growers were glad
to ge S2.To per hundred pounds. The
amount in California represents
about one sixth of the total crop.
Much of the remainder has already
been shipped and is in storage In
Japan.
Other Supplies Available.
In the Louisiana rice districts there
is also a much better tone to the rice
market as result of the inquiry
sent out by Gov. Parker asking how
much rice could be supplied for i'm
mediate shipment. 1t is believed In
New Orleans that over 100000
bushels were destroyed in Japanese
warehouses; About 100000 bags are
believed to be in the south.
The five large Japanese houses
which annually purchase from one
fifth to one-fourth of the Texas cot
ton crop are awaiting definite infor-
nation from their home offices. They
estimate that one-fourth of the Jap
anese cotton mills were located In
the devastated area. These mills
were large users of American cotton.
mixing II with staple. from India and
China. The Japanese represe sentatives
in Texas believe most OF these mills
were destroyed, with large amount
of manufactured goods and that
about $4,000 bales of American cot
ton in the ports also were destroyed.
Cotton Nearing japan Ports.
Two or three shiploads of American
cotton now are nearing Japan ana
will be diverted to Kobe. Future
shipments Will be held up until the
needs of the remaining Japanese
mills are ascertained. This will mean
diverting or holding several Japanese
ships loading at Houston and CAL
dealers of Texas are apprehensive
that the large amount of cotton re-
Gently bought by japanese houses
may come back on the market. but
of this stock was purchased much
cheaper than Is possible today. In
addition, buying by large spot houses
of Alabama, Georgia and the caro-
linas. where the crop Is small. is
counted on to offset japanese with
drawal from the market.
Raw SILK Already Higher.
The raw silk situation continued
to occasion alarm among American
Silk houses, but what trading took
place was of small proportions,
although at considerably higher
silks through Seattle, which for the
first seven months of this year
amounted to s113,921.170, will be con-
tinued after a brief interruption. ac-
cording to Tsunetaro lnoye, Seattle
bank. August imports through the
Seattle gateway are estimated at
$40, 600. 900 in value. Inoye said that
the silk mills of Japan are located
mostly outside the destroyed zone
continue to come through by way of
Osaka and Kobe.
The reeling machinery In use. is
extremely simple and can be quickly
replaced, and 1t is now thought by
many silk men that the effect on the
American market will be confined in
part to the loss of the stocks in
storage at the destroyed ports. Many
A
out their requirements with Italian
silk, temporarily.
Japan to Rush Reconstruction.
Already dealers in building materials,
lumber and steel have been Hooded
with inquiries from Japan. which indi-
cate that no time will be lost IN erect
ing new structures. The lead in this
move is being taken by American firms
having interests in the empire. Japa-
nese officials are making study of
building materials. One Japanese ex-
porting house alone received forty
cables inquiring for steel Tuesday:
The heaviest demand is for galvanized
scheets, used largely for roofing, wire
nails, galvanized wire and wire rods
and reinforcing bars.
offers of Japanese drugs, such as
camphor and menthol. have been with
drawn until it is known what stocks
were destroyed.
Shippers already are clamoring for
cargo space, and ii is expected that ad-
ditions must be made to steamship
lines operating in the Pacific to handle
the traffic. Much of the volume of sup
plies from the Atlantic will be routed
through the Panama canal.