Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-13
TEE "ACME SHIRT, "
IN THEIR OWN LIGHT.
A Word 20 Nashville Merchants about
Buying on Rising Market and not
Ountno- their RafIrOads.

A Word 10 Nashville Merchants about
Buying on a Rising Market and not
Owning their Railroads.
To the Union and American:
NASHVILLE, Tenn, Aug. u, 1870
Nashville merchants have peculiar customs.
L have given them a careful consideration,
and my observation leads me to say that
they are continually violating one Of the
plainest principles Of commercial economy;
They never buy pfOddcs or any article Of
staple quality when figures run low. The
indications of an aiVance Stirs them up
and usually their largest and readiest pur-
chases are made when the market calls the
highest price. TIE teseut Transactions in
wheat and -four fully exempiift this.
While -four was selling as $3.50 1t was
drug, and merchants refused to buy more
than enough to supply the daily demand;
but, so soon as our Northern neighbOrs
take the market at the low figures, and an
advance commences and goes two or three
dollars per barrel, all are rampant aud
eagerly buy all they can get at top figures.
IN wheat, the market was dull when 1t
rated from 75c. to 81; merchants refused il;
milleTs only bought sparingly. But the
Northern trader takes in the surplus at the
low notch; the price becomes higher and the
merchant becomes excited. Every man Of
them casts about to get what pays the
| highest price, and seems actually happy
when he has succeeded in investing his
money al the very highest prices. Both
wheat and flour then decline, and the aver
age Nashville merchant, with burnt fingers,
cody aud sadly calculates his losses, and
| 1aa-raa Nhaeafrtr This
has been the mOdus for years; merchants
here seem to realize no sign in these trans
actions to lead them in a different course.
| They should have the making Of prices in
| their hands, aud this they can do only by
managing the market as it comes, and not
/ by waiting to catch it on the bound.
In the same direction, the merchants lose
a large advantage by neglec.ing the railroad
interests surrounding them. As the roads
are at present run mainly in the interest OF
/ foreign communities, they are practically
Of small real benefit to Us. The purpose
| they should subserve is the benefit Of our
merchants and their customers. Take the
| Nashville, Chattanooga ard St. Louis rail-
way; its stock is not, but should be, largely
| owned by the merchants. By owning a
controlling interest in it, they might be
| able 20 take the reigns Of its government,
| and insure its interest and influence in be
| half of this city and its trade, and this, too,
IN a manner to largely increase the re-
ceip,s and profits Of the road. Now it
/ falls into other hands and a ruinOus policy
is pursued Of making high rates Of freight
and passage for local traffic and travel, and
low rates for through business. The
/ policy should be foTsaken as il initiates
against the best interests Of orr merchants
and their friends. These interests are OF
| Importance TO ell our citizens. Merchants
stand idle: only one Of their number is a
director in the Nashville, Chattanooga and
St. Louis Railroad. Therefore they are
nearly pOwerless in the way Of controlling
freigLts and other matters. Stock Of that
road is n0lg very low perhaps purposely
sol aud parties living over 500 miles from
Nashville have gathered two millions Of it.
Three Of its directors live out Of the Sjate,
and the majority Of the balance possess Sc
far as their individual objects are concern
ed, no common interest with our meF
chants, consequently Nashville is snubbed
because it has no voice in the direction Of
affairs. Our merchants should look into
and better this STATE Of facts not only f0l
themselves. but for the trading friends o
Nashville. OBSERVER.