The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-10
COMMERCIAL MATTERS. Etc.

Chinese.
1t is estimated that Western New Yor
probably produces over one.half of all tn
apples raised in the United States. The an
nuat product of several counties amount :,
100000 barrels.
The cows in many sections of the State O
Maine are being attacked with the epizootic
in some cases fatally.
Spencer, Milford, Hopkinton and all tn,
Brookfelds, and indeed about all the Massa
chusetts boot towns, are working on orders
these have been good for the season of the
year they are now, as a rule preparing
their new styles, taking an account of stoci
and fixing up their establishments.
The Lynn Mass. shoe manufacturers ar,
making better goods this season than the,
did the past one The fashions take theil
tone, IN some Instances, from the Centennia
movements; accordingly buckles are appear
ing OF large dimensions, and the rosettes will
snow combination of lace and beads.
Corners.o
IN. Y. Grocer, 9th inst.
The passion for specializing has become SC
general and widespread, thatth most i'm port.
emf products are now subject to the manipu
iatlon OF spectators. Of late years lard has
become favorite article with them, because
CT the variation in the supply and fuctuation
IN prices, and since the demand for the arti
Gle is yearly becoming greater, both from
home and abroad. the greater inducement is
offered for speculative operations. Through
the influence of the "bulls" and "bears y
prices are kept varying, the change depend
ing upon the power Of the opposing parties.
All this manipula ion is most damaging to
legitimate trade, and at times, owing to the
consequent uncertainty, the dealer is entirely
shut out from the market.
The bulls" are those who attempt 10 raise
prices, they being supposed to have stock to
dispose OF. The bears" on the contrary.
are those who have made sales at certain
figure and Wish, therefore, to depress values
In order to deliver at lower rate. The "bulls"
have recently been successful in making q
"corner in lard for October delivery. AS far
back as July last sales for October delivery
were made, the first one noted being July l6
at l3sc. Since that time until the very last
dsy OF October heavy sales were made for
October delivery. Up to the Goth Of October
Inclusive, prices fuctuated between 1910
l4tc, according to the stock and the success
OF the opposing parties in controlling the
market
1t is the custom ut all times to sell for fin.
ture delivery, but for October the trsnsac-
tons were very large, SO large in fact, that
the deliveries to be made were very far n
excess of the supply. The bulls have bought
largely and having control of the actual
supply, besides taking the arrivals as fast s
they came in, forced the price of lard abou,
&c per pound above its market value. The
shorts, or "bears," could not, therefore.
I'LL their October contracts except at heavy
loss, Tor the opposing eieme mt had eff.ctuaJIy
cornered lard.
The corner in lard is the result Of the M ani
pualon OF one firm, who controlled all th
stock But during the last week of October
there was 80 much lard attracted here by the
nigh prices, that aid was necessary to hold
the stock, and the assistance of another firm
was obtained. On Saturday last, tho day the
corner eliminated, the stock here was about
$1,000 to $4,000 tierces, being more than the
demand here would warrant, and the parties |
who controlled it were placed in somewhat |
difficult position, having to dispose of the |
surplus, which, prices having been raised to |
fictitious value and being now SO much lower,
may have to be done at ruinously low |
figures.
In this corner nearly all of TIE spectators
have been caught. They are all men able to
meet their loss but they contend that there
WIS great deal Of fraudulent practice in the
manipulation of the market, and that many
OF the contracts were " washed" mot cenu-
ine). They are, therefore, going to test the
right Of the "bulls to claim their contracts
at the high figure of Saturday, 17lc One
case has already been taken before the Arbi-
tra'ion Committee of the Produce Exchange,
the marker value being about 1876, and the
closing price on Saturday 17ic or differ
ence Of 3ic, which, in considerable pur-
chase, Is q great item.
The sales OF lard in July for October deliv-
cry were $500 tierces; in August II, 500, in
September 81, 700, and in October 81, $50:
delivered in October. The above is made up
from the off cial report OF the New York Pro-
duce Exchange. The stock here in October
ranged from 10000 tierces early in the month
to about Is, 900 or Is, 900 at the Close showing
the fictitious nature of the Sales since SO
Il uch more lard has been sold than had any
real existence. There can be little difference
between gambling, pure and simple, and this
pernicious system of doing business; yet
some parties claim that it is necessary to sell
ahead of delivery in order to make the market +
also contend that it is necessary, in order to )
bring the producer and the consumer to-
,ether.
The corner in pork was not as successful as
hat in lard, as on the last day of the month
he "shorts," by some means, obtained SUP
plies to meet their contracts, and there was
Immediately break in the market from 1923
Town to $22 SO, which was the closing price
N the 3Oth October. The sales for August, :
'cptemUtT anu OctoDtE, IOE OctOOcr delivery, |
to 1877, 900 bills AT no time in
october was the stock Of pork here over 5000
ibis: on the 22d October the ste cks of the
Jew York and Brooklyn warehouses amounted Il
o only 5000 bbls. On Saturday, October 80,
he day the corner eliminated, the stock was
900 bbls, showing that with 1876 900 bbls sold
0 be delivered in October, there were never =
acre than 5000 or 5000 bbls with which to ia
IL the orders, and proving conclusively the Ell
ctiious nature Of the sales. ct
The corner in cotton was very successfully =
Manipulated and by it much advantage has F
ccrued to the Southern planters, who have sold G
ae ''shorts" the cotton bought and brought IN II,
orWard to meet their contracts. The prices y
'r spot were forced up from IL 3-16c to 143c, HI
nd closed at IA 9,16c, while November cote n f,
as selling at Is 5-l6c The number of bales " y
Did to be delivered in October, during the M