The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-23
ParLADEIrHrA, Sept 81, 1868.

Our last Circular was that of July IS. The
new tsx-bill had just become a law. and its
provisions were but imperfeCtly understood.
Enough was known, however, to reassure the
trade that nothing but continual prosperity
could be anticipated. At that time we again
INDUCED in our accustomed, we might almost
say chronic, prediction 'that another extra
ordinary advance in bonded fine WhislSies
would take place" For two or three weeks
after the issue Of our Circular, large operations
were by no means general. The trade had
been in suspense and uncertainty, as to the
workings of the new law, too long to suddenly
take hold of large lines of goods with their
usual boldness. Besides, the most unparalleled
daily advance in common Corn WHISKY seemed
to absorb the attention of the trade to the ex-
clusion of nearly every other interest. The
cheated term" was also at its height, causing
a more general fight from business than, per-
haps, was ever known before. Late in August,
with the advent of cooler weather, and most of
the absentees being again at their posts, q
marked change began to be perceived. Fine
Pure Rye Whiskies but few months
before had been new-were now improved by
nearly full Summers sun. The ever-recur-
ring demand prevailing at this season of the
year for Whiskies Of fine qualities, having
one, two, three, and more Summers, had
fairly begun. Prices at once quiokened.
Transactions daily became larger and larger.
1t seemed that with each sale came an addi-
tional advance. During the last two years we
have become so accustomed to see these ad-
vances, that we have almost ceased to look for
anything else. We must confess, however,
that as strong as has been our faith, we can
not be but surprised at the magnitude of the
operations that have taken place and which
still continue.
The great bulk of the transactions that have
come within our notice have been in Pure
Ryes of the most approved brands of 1867 and
of this year. Pure Ryes of 1866 have been
going so rapidly into consumption, and have
become SO reduced in stock, that no large lots
make their appearance on the market. We
nave 10 quote Pure Ryes Of 1868 in bond as
follows:-July, 81 80 to $l'65; June, $14O to
$1'75; May, $3.50 to $l'S5; April, s1'6O to
$500; March, February, and January, $1'65 to
1926. These according to lois, brands, aud
whether in heated rooms, or otherwise, but all
at Distillery Warehouse, snd Of the produc-
tions Of Pennsylvania, Maryland, Virginia,
and Kentucky. Productions of other States,
with one or two noted exceptions, have met
with little favor, and range in price from 25c.
to 75c. less, according to quality, location,
age, etc. We quote Pure Ryes of 1867, in
If
September, $1'75 to $500; August, July,
June, May, and April, 1925 to $3.75; March,
February, and January, $3.50 to $500. These,
as usual, according to location, brand, age,
and length of time in heated oarehouse, but
stored generally in class warehouses in
Philadelphia. Pure Ryes of 1866 in bond
vary from $2'75 to $4'75 while those OF 1855
are nearly extinct. In thus giving these quo
tations, it is necessary to remark, that they
refer almost exclusively to Whiskies made
solely from Rye and Rye Malt, or from Rye
and Barley Malt. Whiskies pwporting to be
fne but distilled from mixtures Of Rye and
Corn, have been constantly becoming less
priced, and transactions, with the exception OF
one or more noted brands, have either been on
80 small scale, or at such low prices, as to be
almost unworthy Of notice.
The magnitude of the traffic in Fine Rye
Whiskies is now such, that it has become all
important to every one interested in the
article, not only to consider the present aspect
of the market, but to seek for all the light
that can be cast into the future. We propose
briefly to discuss the question in most of its
bearings. By reference to our Circulars pub
licly issued since early in January, 1866, 1t
will be seen that the past and present extra
ordinary high prices are due to few palpably
plain causes. Having gone over the ground
so repeatedly in this connection, we shall con-
tent ourselves with making few extracts,
rather than to state over again the same facts,
with but change of language. In our Cir
oular of October s, 1867, we stated: "We have
repeatedly urged upon our customers, and the
trade in general, their consideration of the
fact OF the almost utter extinction of Free Old
Rye Whiskies Of great age, and the no less
growing scarcity of those in bond. AS now
our predictions have become realities, and
our opinions being shared by nearly every
one interested in the trade, it is no wonder that
prices of all kinds Of Fine Whiskies should
still continue to advance. 1t must be ever
remembered in reasoning on this subject, and
the fact cannot too often be repeated, that
during all of 1865 and for the first three months
| of 1866, not more than three or four thousand
barrels in all Otreally fine Rye WhIskies, I'll
J 4 L., =