Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-09-15


been forced into system of outstanding,
and in many cases where they would gladly
have extended accommodations have been
compelled to decline selling where credit
was asked.
As with us, the principal markets, save
possibly Liverpool, which seems to be i'm
pressed with the expectation of an early
peace, have shown strength IN bacon, and
firmnes in d. s. meats; not, however,
without weakness in barrel pork, and rest
less anxiety to press the sale of lard. As a
consequence, bacon has advanced. the
confidence in dried sailed meats is recover
ing. Pork is steadily giving way, and lard
is continually fiuctuating, with preponder-
ance in favor of buyers. The disposition
to withhold part of the product from sale,
unless at an advance, and to press others,
almost irrespective of prices, has produced
an inequality of values, which cannot be
sustained, and will be corrected either by
an advance in barrel pork, or a concession
in bacon and dried sailed meats, and as the
last named are in small, if not inadequate
supply, the presumption, if not the con-
cession is almost irresistible that the mar
kets will adjust themselves by proper ad-
vance in mess pork. This position is
strengthened alike by reason and the ex-
perience of intelligent and observing oper-
tors, and yet it is not strong enough to
prevent the timid from sacrificing, nor to
induce the reflective to come forward, but
there is a growing conviction that such will
be the recovered position Of the market
within a short time. Thus thinking, mess
pork is the cheapest article in the market,
and offers the greatest inducements to
operators, now that the stock here Is re-
duced to 1850 bbls
The sdvices reaching here from the
South are encouraging; the fields are said
to be white with cotton, picking is pro-
crossing rapidly, and the deliveries at local
markets are increasing, showing that plant
ers are determined to place themselves to
in position to command whatever they re-
quire, anG as they are absolutely short of
supplies, their purchases are likely to be
materially increased, evidences of which are
found In the presence of an unusual num-
Der Of southern operators in Western mar
kets, and the very liberal orders daily
| reaching here direct from Southern CORES
| pondents. The West, at least that portion
lying beyond Kansas City, is daily mani
testing an increasing demand for proVis-
ions, and within the week has been liber-
| al buyer, the sales of one of our leading
packers having been larger to the extreme
West than to all other clients. At home
| the demand is good, and as stocks of ba
con and d. s. meats are being rapidly re
| duced, confidence is regaining strength
and dealers impressed with the belief that
no probable contingency will arise in which
| it will be necessary to make other than
temporary concessions, If any should be re-
quired.
The review of Francis W. Crane q Co.,
another leading packing house, under the
same date, has been received, which
touches upon subjects that will be interest
| ing alike to holders and consumers. We
copy, as follows:
The advantages to the provision trade,
| by the realization that the exciting war
news reported at the close of last week,
was an accomplished fact; that the French
army in the field had capitulated to King
] William, and the Emperor of the French
mad surrendered himself a prisoner of war
was of short duration. AS we anticis
| pated, this news gave new hopes to the
cotton trade, in view of the fact that an
! early peace would again open the avenues
| for its free expectation, and with better
prices and better feeling for the new cot
ton crop, it was believed there would be a
| greater demand and more yigOr in the ba-
con trade. This was accomplished, but
| another element must be considered which
is now beginning to weigh heavily against
any further advance in prices, and checks
the movement SO happily inaugurated.
Gold is gradually declining in value, and
getting back to the point it stood at before
France made thwar declaration. This is
having a powerful effect on the whole mar
ket. Pork and lard were the first to feel
the whitening influence, as their exporting
value was Immediately affected by the de-
cline. The same influence is now begin
ming t. be felt on the movement in bacon
through its effect upon the the price of cot
ton.
Cotton being largely an article of export,
it is patent that a pound of it, with gold at
Is to 20 q cent premium, will pay for more
bacon than will the same quantity at the
price with gold at 10 to IL T. cent premium.
These facts are operating with power ofin-
hUence that cannot be controlled Another
element of great power, and at the present
moment of commanding presence, is the
fact that we are rapidly approaching the
season of Strengthening and a new crop of
hog product at lower prices. II Is getting
now to be well understood that the man
who shall think of packing hogs the pres
ent year at last seasons prices, will be fit
subject for lunatic hospital. The realiza-
ton of the effects of the policy of last sea-
son (Which we at the time OF the slaughter
ing tried honestly to portray in adYance) is
now considered quite sufficient. All who
tried it are SO far satisfied that they want
no more of it and will have no more of
it. No high-priced hogs will be packed
this season In this vicinity, only so far as
necessity on immediate orders may require
at the start. This can be counted on.
With all these causes together operating, it
Is not wonderful that a check is given to
the impulse OF the bacon movement, and |
that such markets as Cincinnati should re- |
port ''quiet and weak" condition. The |
combination of occurring events is heavy |
and powerful against any further advance |
in prices, and if we are wise we shall con- |
slider them and give them due weight.
But will not all the stock of bacon be |
wanted for immediate consumption, which |
is reported small everywhere, and the mar
kets of the South nearly bare? That has /
been, and is now, the firm belief, but at |
what prices it will be sold is the question
of immediate importance. AT present it is
evident that there is disposition on the
part OF the nOluefS Oh uIy SdlG meats 10
meet the present prices at once. AS we
intimated in our last, Chicago is acting Wig
orously in this direction, so far as to be
getting rid of her surplus stock as rapidly
as is consistent; but buyers are acting with
much caution, and purchase onlyfo imme-
diate wants These opel atoms do not
show either courage or faith, and
give great color to the view that
the present strength of the market is more
apparent than real The movement
through the week, till near the close, was
quite active in bacon at advanced prices,
as will be seen by our quotations Mess
polk has steadily tended down, and is
weak More transactions have ensued
than previously, but at much lower figures
showing decided disposition on the part
of holders to realize at once. In dry salt
meats we note up to Friday evening sales
of $50, 600 pounds shoulders, in two lots,
at 125 and 13c, and $50, 900 pounds of clear
rib sides, III three lots, all at 15c. In lard
on Tuesday 300 tierces choice steam were
placed at 15tc but it could now be bought
for less. Tallow is in steady demand IN
small lots at 93c. In greases there has
been but slight demand at present prices.