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

age all over the North, Bast, and West.
Prior to the war, It's use there, except In
Pennsylvania, was comparatively unknown.
In the South, Fine Old Rye Whisky had long
been extensively used and appreciated. In
fact at the outbreak Of the war, the stock in
the country was chiefly held for Southern
orders. After the war had commenced, and
for some time afterwards, business was para
lyzed. During this period but little Whisky
ofdns kind was made, especially Rye Whisky.
Ere long, however, the Old whiskies that had
been held, as above stated, chiefly for South
ern markets, began slowly to make their
way and to be consumed North. From Sep
tember, 1862, to January, 1865, during the
agitation of prospective increased rates of ex-
else, vast amount Of Whisky was manufao-
tured, but as the Old Southern market was
lost, and the object Of the manufacturers
being to make quantity not quality, very little
good Rye Whisky was produced. During this
period Old Whiskies had, however, been
steadily growing in public favor and into
rapidly increased consumption. When the
war ceased, the old Southern demand revived
and as there was just about sufficient stock to
supply the growing Northern demand, the
result is, that all the Fine Whiskies made
prior to January, 1855, certainly cannot ex-
ceed over six or seven thousand barrels in all
the United States, and Of which two-thirds are
held in Philadelphia alone. These Whiskies
are, of course, Free, and are not on the mar,
ket for sale at any price in lots as they
are, but are held by few fortunate dealers
for their regular trade. 1t would hardly seem
sumption going on, especially after the war
had ceased, and Southern trade was restored,
that such q few thousand barrels of Fine
Whisky, as above recorded, should only have
been manufactured during all of 1855 and
early part of 1866. This was induced by
very peculiar condition Of affairs. On January
1st, 1865, the two dollar rate Of tax went into
effect. The country was full Of Common Raw
Corn Whisky, mainly held by spectators
and the moneyed part Of the trade, who had
bought far below the then cost Of manufao-
turing. The competition to realize became
such that, although it paid large profits to the
holders at prices obtained, no one could sell at
cost price of Whisky to be made under the new
rate of two dollars for months afterwards.
This caused the market to be so excessively
dull that Fine Whiskies sympathized in the
general movement. Distillers of Fine Whis-
kies accordingly became discouraged, and
ceased to manu- facture. In the spring
of 1866 small portion of the trade
who had worked their stocks of, seeking to
replace, found that old stock, such as they
had been carelessly frittering away, had either
ceased to exist, or had been quietly gathered
in by the very few who had watched and
studied the course of the market. To buy
such old stock, and contract for New Whiskies
IN TINA for the ensuing summers heat. bacame
imme diate matters of necessity. 1t was not
long before the most of our larger houses
began to realize the effects of their suicidally
false management. The consequence was
scramble among the whole trade, to place
themselves in proper stock. Distillers of Fine
Whiskies who had remained idle for fifteen
months or more, soon had their Works in full
running. Whiskies, of great age, advanced
largely and continually. Popular distillers
were enabled to make, and did make,
highly favorable contracts for future de-
livery. By the fall of 1866, favorite brands
in bond of the spring, having but sir
months age, were sold at from rs to 100 per
cent. advance, while those of two Summers
brought prices in same ratio corresponding to
their greater age" Again, in that of April
9th, 1885, we stated: 'It requires no argument
now to convince the trade that the free old
stock of fine Whiskies, manufactured prior to
1865, ia very insignificant. In fact, that all
the houses in the land combined, have no more
of such stock than any single house of first
class means and heavy custom, to conduct its
business properly, should have alone. They are
aware that during all of 1865, and the early
part OF 1866, the Distillers of Fine Rye
Whisky made but hundreds of barrels when
they should have make thousands. They are
also aware, owing to scarcity and high prices
of older stock, that of 1866 and 1867 Whis-
kies, the consumption has been very great,
and that 1t is now becoming greater. Prior
to the war, the stock Of Fine Rye Whiskies
was hardly sufficient to meet the Southern
demand. This is proven by its then ad-
vancipg price. Since the close of the war, we
have the North, with its vastly greater popu-
lation, as well as the South, to supply. Place
these facts together, and it will be perfectly
apparent that the stock of 1867, 1866, 1855,
an bond, and the free older stock, is far below
what it ought to be for the trade to 80 hold as
to give requisite satisfaction to their custo-
mers. We believe the consumption of
foII