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

much enhanced value by It's Improvement Of
one, two or three summers, as the case
might be-" .
II can thus be seen that the present high
range Of prices Is entirely owing to an In
sufficient supply Of Fine Old Rye W hiskies,
commensurate with an increasing demand.
| The Law Of "supply and demand is too
| well understood for us to expatiate much on
that subject, but as an apt and most peril
nent illustration, we may be permitted to
instance the astonishing price that Common
Corn Whisky has recently attained. In the
city Of Chicago, ordinary Corn Whisky, that
In olden times could be manufactured at 20c.,
and st the present moment at 45o. or 50c., is
selling at goo. In bond, subject to a tax Of 600.
per gallon ! There Is no improvement by
age In this article, no matter how long 1t may
be kept, and the only reason therefore for so
extraordinary price is, that owing to the
recent stoppage of the Distilleries there is
''more demand than supply" While noticing
the operations in Whiskies of one or more
Summers, we must not neglect to notice ope-
rations that will extend into the future. We
understand one of our eminent Pennsylva-
mia Distillers has contracted for his entire
product under the new law for twelve months
to come. Others again have contracted
largely, while some hold their manufactures
at such prices, as fairly to induce the belief
that they desire to choke of the demand, so
that they may hold their stock for improve
ment by age themselves, instead of selling
their new product ahead to the trade, as they
of late have been accustomed to do. The bar
gains that have been oonsummated, have been
Of so recent date that we are unable to gene
rally ascertain prices. We understand, how
ever, that while no Pure Ryes, of known ex-
cellence, have been contracted for under $l'10
in bond, at Distillery Warehouse and subject
to SOC. per gallon tax, some Distillers are
holding out for as high as 81 '35, with every
prospect of obtaining that figure.
1t has become a most interesting subject
for the trade to consider how long the large
profits in holding stock will continue to take
place. 1t would be unwise in us to predict
that prices, to certainty, will rise to as great
an extent hereafter, as they have Of late
years. While we have been all along confident
that handsome profits would accrue in all ju-
dicious purchases Of Fine Pure Rye Whiskies,
yet our estimates having fallen always short
of actual realizations, we see no reason why
another such carnival should not ensue. In
| olden times the trade were satisfied to carry
| Whisky, if they realized Is or 20 per. cent.
per annum over cost. Because, Of late, they
have realized about as much profit in month,
as they formerly did in year, they naturally
enough now begin to wonder how long such a
thing can last. There are many reasons for a
belief in continued high prices. The trade
have faith, as instanoed by their operations.
Three years ago, at the close Of the war, for a
seasou, tt,oy se.erany held back from pur
chasing, to their great sorrow. The "Fins
Old Whisky question" is now better under
stood than ever, and those who were timid
but short time ago, are now among the
boldest. They understand the important axiom,
that, "Any well-made Fine Rye Whisky
purchased at reasonable price will ALWAYS
pay, over all expenses, better interest than
any other steady investment" Always work
ing On a surety, there can never be any loss
The trade are strong in means, their accumu-
lations having been heavy as well as rapid
|
price to-day it will more than do so perhaps
IN month. The trade is also constantly re-
oeiving accessions from the Importers of
French Brandy and other Spirits. Many OF
these Importers, understanding the custom in
Cognac Of holding Brandes for many years, at
but moderate profits, esteem it no bugbear to
invest largely in an article paying four-fold as
much profit as holding Brandies. If these I'm
porters show only half as much enterprise in
encouraging the Fine Old Rye Whisky bust
ness of this country, as they are wont to do in
importing Brandies, etc., the future of the
trade must be brilliant indeed.
Again, there are no more Distillsrs of really
fine Rye Whistles in the country than there
were years ago. The Distilleries that have
sprung up of late, were started solely to
manufacture Common Corn Whisky. By far
the most of these turned out but miserable
stuff, the proprietors generally caring for
nothing but spirit, no matter what the
quality. To make a Fine Rye Whisky requires
such water, together with experience, care,
and peculiar knowledge on the part Of the
Distiller, such as few establishments can pro :
cure. While it is true some Of the larger
Distilleries have enlarged their capacity,
many of the small ones have remained closed,
and under the onerous conditions of the new
law, many more will be compelled to close.
Upon the whole, there is likely to be distilled