San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-09-06
Aid From United States
Will Be Big Help to
Orientals.
FIGHT ON PROFITEERS
Raw Silk Situation Causes
Alarm to American
Houses.
Ry i. C. ROYLE.

New York. Sept. 6.-Although the
loss of life and property in the Japd-
ncse earthquake and fire still is un-
counted. it is sure that the empire
and its cities and industries will rise
from the ashes with almost miraculous
speed.
The immediate response by Amer
lean banks, corporations and indiyid-
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 regrst
being that gains which might ensue
should be at the cost of sister ma
ton.
This attitude has been exemplifie,,
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 when
these spectators now are struggling.
This represents about four-fifthS 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 AsSociatloI
and who have been marketing thelr
crops under cooperative arrange
mentS.
War OH 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
held 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 1000 more
in hands of millers.
Some of this supply has been bought
up by spectators at around I cents
pound.
Up to last Saturday growers were
glad to get $2.75 per hundred pounds.
The amount in California repr.-
sents about one-sixth of the total
crop.
Much of the remainder has alreads
been shipped and is in storage in
Japan.
In the Louisiana rice districts there
is also 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-
date 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. $500
3. 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-
ed in the devastated area.
These mills were large users Oh
American cotton, mixing it with staple
from India and China.
The Japanese representatives in
Texas believe most Of these mills
were destroyed with a large amour;
of manufactured goods and that about
$4,000 bales of American cotton IN
the ports also were destroyed.
To Hold Up Shipments.
Two or three shiploads of American
cotton now are nearing Japan and
will be diverted to Kobe.
FIXTURE shipments will be held up
until the needs of the remaining Japa-
nese 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
amount of cotton recently bought by
Japanese houses may come back or
the market, but this is considered
> doubtful as much of this stock was
purchased much cheaper than is pos
sible 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
drawal from the market.
The raw silk situation continues to
occasion alarm among American silk
houses. but what trading took place
was of small proportions although at
considerably higher prices.
Imports of japanese raw silk
through Seattle which for the first
seven months of this year amounted
to S113,291, 40, will be continued aft
err a brief interruption. according t.
Tsunetaro Inoye. Seattle manager OF
the Yokohama Specia Bank.
August imports through the Seattle
gateway are estimated at S40,OOO,OOU
in value.
Inoye said that the silk mills OF
Japan are located mostly outside the
destroyed zone and that manufactured
silks would continue to come through
BY way of Osaka and Kobe.
The reeling machinery in use is ex'
tremely simple and can be quickly re-
placed and it is thought now by many
silk men that the effect on the Amer
lean market will be confined in part
TO the loss OF the stocks in storage at
the destroyed ports.
Many American firms are preparing
TO fill out their requirements with
American silk temporarily.
Already dealers in building mater
ials. lumber and steel have been Hood
ed with inquiries from Japan, which
indicate that no time will be lost IN
erecting new structures.
The lead in this move is being taken
by American firms having interests IN
the empire.
Japanese officials are making a
study Of building materials.
One exporting house alone received
- cables inquiring for steel Tuesday.
The heaviest demand is for galvan-
lied sheets, used largely for roofing,
wire nails. galvanized wire and wire
rods and reinforcing bars.
Offers Of japanese drugs such as