San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-09-07
Aid From United States
Will Be Big Help to
Orientals.
FIGHT ON -PROFITEERS
Raw Silk Situation Causes
Alarm to American
Houses.
BY j. G. RONLE.

nese earthquake and fire still is uii-
counted, it is sure that the empis.
and its cities and industries will rise
from the ashes with almost miraculous
speed.
The immediate response by Amer
lean banks, corporations and indlvld-
uals to the first appeals for aid has
Established that fact without question.
SO far as the effect on American
business is concerned, it is being lost
sight of in most cases, the only regret
being that gains which might ensue
should be at the cost of sister ma
ton.
This attitude has been exemplfie3
by the immediate steps to prevent
spectators from taking undue adj
vantage of the demand for foodstuffs.
-Four hundred thousand bags of Ca
ifornia rice is the prize for which
these spectators row are struggling.
This represents about fOurfifths of
the supply most readily available for
Japanese relief.
1t is in the possession of California
rice farmers who are members of the
California Rice Growers Associatio |
and who have been marketing the.r
crops under cooperative arrange
ments.
War on Profiteers.
The SPECTATORS, seeming Opportu-
nifty, 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
profiteering.
The association has ordered all sales
of rice stopped until next Saturday.
by which time it hopes to have
brought to bear sufficient pressure to
offset the lure of higher prices.
In addition to the 100000 bags
there are approximately 100000 more
i'm hands of millers.
Some of this supply has been bought
up by spectators at around Z cents
h pound.
Up to last Saturday growers were
glad to get $50 per hundred POUNDS.
The amount in Californja repre-
sents about 'One-sixth of the tota!
crop.
Much Of the remainder has already
been shipped and is in storage in
Japan.
In the Louisiana rice districts there
is also a much better tone TO the rice
market as a result of the inquiry sent
out by Governor Parker asking how
much rice could be supplied for imme-
liate shipment.
1t is believed in New Orleans that
pver 100000 bushels were destroyed
i'm 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 office.
They estimate that one-fourth OF
the Japanese cotton mills were locat-
I'D in the devastated area.
These mills were large users OF
American cotton, mixing it with staple
from India and China.
The japanese representatives in
Texas believe most of these mills
were destroyed with large amour.
bf manufactured goods and that about
900 bales of American cotton IN
The ports also were destroyed.
To Hold Up Shipments.
Two or three shlploads 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 Japa
hese mills are ascertained.
This will mean diverting or holding
several japanese ships loading at
Houston and Galveston.
Some of the spot cotton dealers OF
Texas are apprehensive that the large
snount of cotton recently bought by
Japanese houses may come back or
he market, but this is considered
doubtful as much of this stock was
purchased much cheaper than is pos
Bible today.
In addition buying by large spot
houses of Alabama, Georgia and the
Carolinas where the crop is small, is
counted on to offset Japanese with
lrawal from the market
The raw silk situation continues tol
occasion alarm among American sikh
houses, but what trading took place
vas of small proportions although at
considerably higher prices.
Imports of japanese raw silk
through Seattle which for the first
even months of this year amounted
10 S113,291 40, will be continued aft
r brief interruption, according -
rsunetaro Inoye, Seattle manager OF
he Yokohama Specia Bank.
August imports through the Seattle !
gateway are estimated at S4O,000,O00
In value.
Inoye said that the silk mills Of
apan are located mostly outside the
destroyed zone and that manufactured
ilks would continue to come through |
~ way of Osaka and Kobe.
The Keeling machinery in use is ex-
remedy simple and can be quickly re-
placed and it is thought now by many
ilk men that the effect on the Amer !
can market will be confined in part
% the loss of the stocks in storage at
he destroyed ports.
Many American firms are preparing |
% fill out their requirements With |
american silk temporarily.
Already dealers in building mater |
als, lumber and steel have been flood
! with inquiries from Japan, which |
-;cate that no time will be lost IN
new structures.
The lead in this move is being taken
V American firms having interests III
he empire.
japanese officials are making a
Of building materials.
One exporting house alone received