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Topeka, Shawnee County, Kansas
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Chicago Board of Trade appoints committee to support St. Lawrence deep seaway project, promising 5-10 cents per bushel added value to Central West grain and $183 million in agricultural income savings on transport to Europe, benefiting 16 states.
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Chicago, Sept. 29.--A committee to represent the grain trade in the St. Lawrence deep seaway project has been appointed by Robert McDougal, president of the Chicago Board of Trade.
"Full development of the inland seaway," said Chairman George S. Bridge, in announcing the committee's plans today, "would add from five to ten cents a bushel to all grain grown in the great productive area. This is based on surveys by transportation experts."
"It is estimated that a five cent a bushel saving on transportation cost to European countries would add $183,000,000 to the agricultural income of the Central West. This benefit to the farmer as well as to the public generally readily can be seen. Transportation has long been a prime factor in distribution costs. A deep seaway would be a logical solution. The Chicago board of trade will work for the consummation of the waterway the same as it has supported all other sound movements in behalf of greater returns to the farmer."
Benefit Sixteen States.
"In the district that would benefit directly by the deep seaway are sixteen states that pour part of their agricultural products into Chicago. These states produce three-fourths of the wheat of the country, and more than 400,000,000 bushels of wheat is handled every year by the Chicago board of trade. These same states also produce 70 per cent of the corn, and half of the cattle, hogs, horses, butter, eggs, cheese and wool. They mine 85 per cent of the iron ore, 40 per cent of the copper and coal, 75 per cent of the zinc and 45 per cent of the lead."
"Chicago is the focal point of the great production area, a world rail center handling in its terminals 15,000,000 carloads of freight a year. Therefore an open water lane to the ocean would be of inestimable value to the entire nation."
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Domestic News Details
Primary Location
Chicago
Event Date
Sept. 29
Key Persons
Outcome
would add five to ten cents a bushel to grain value; five cent saving on transport to europe estimated to add $183,000,000 to central west agricultural income; benefits sixteen states producing major agricultural and mineral products.
Event Details
Committee appointed by Robert McDougal, president of Chicago Board of Trade, to represent grain trade in St. Lawrence deep seaway project. Chairman George S. Bridge announced plans, stating full development of inland seaway would enhance grain value based on transportation expert surveys and support greater returns to farmers.