The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-10-04
A CARD FROM THREE PROMINENT ToBAc'

co COMMISSION MERCHANTS.
The time being at hand for making ar
rangcments for the purchase of Tobacco
this Fall, we beg to refer you to the joint
circular which we issued on the 10Th OF
August of last year, wherein we took the
ground that the practice of early ad-
varccS during the Fall and Winter had
proved injurious TO the Trade.
In order to remedy this growing evil,
we Jointly concluded not to make any ad-
yanccs henCefOrth before the middle OF
March. and tins measure don tless had q
wholesome elect il the purchase OF the
crop last year, but still u has failed ID
afford the necessary security for their AZ
vances, which the present times and the
laws of equity demand.
As commission merchants, we have all
been assuming too much risk in advanc-
ing, rs we have heretofore done, before
the actual receipt Of the produce. The
commission of q per cent for selling
tobacco allows no margin to compensate
us for any risk whatever. AS matter
of fact. agents have found it inpracticable,
even when exercising their best judg-
ment. to discriminate properly as to the
parties deserving the unlimited conf
dence required under the recent system
of advancing. AS result, each OF US has
suffered losses by the failure OF certain of
our customers TO cover advances by pro-
duce
We need not dwell upon the insecurity
and distrust which prevade all branches
of trade at present, and which alone
would compel us To Use extreme caution
in self defense, but we have also to con-
tend against the existing bankruptcy
laws, which. although intended to equal
iZe all creditors, work AS hardship to
rs. 1t is well known that we have been
making advances, not upon the credit of
the party, rs is done in sales of goods,
but mainly upon gwen quantity OF to.
bacco. pledged TO us by word and letter.
Tobacco being an article Of produce that
requires several months to prepare
properly for market. if the owner should
tail in the meantime he is debsrred by
law from fulfilling his pledge of de-
hvering the tobacco TO us, and we have
to share alike with the general creditors,
who made large profit on their goods,
and whose dividends are increased by
the cash we advance on account of the
tobacco.
1t is our right in equity that the to-
bacco. pledged by word, honor and let
ter, should be secured to us under all cir
cumstance for the payment OF advances
made upon II, and inasmuch as the pres
ent laws consider tins as a preference. We
feel constrained to make no advances in
future, except upon tobacco in hand, and
we hereby pledge our honor to adopt and
uphold this measure.
This course is intended as much in the
interest of all conservative dealers as for
our own protection. Each buyer being
thus thrown upon his own resources, the
crop will be bought with due caution and
on easier terms than formerly. Small
payments only will be made down, and
towards April, with the main payments
during the following summer, when the
tobacco can be realized upon. On the
other hand, the crop can be better con-
troliCd here, as agents will be free to ex-
erciSe their judgment in selling, not be-
ing embarrassed by Obligations maturing
without value IN hand, and often without
even the pros pect Of receiving such value.
Our object is to place the business upon
\ safe basis for ourselves, as well as for
our friends, to encourage only legitimate
trade, and to see the business in the
hands of those who BY their standing
and character are entitled to it; and, to
this end, we rely upon the support and
co operation of all who have at heart the
true interest of the trade.
WIN. LAMPING 4 Go.
GIEsKE " NIEMANN
WILKENs i BEALL.