Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1880-01-08

AS@24AA
by the cotton seed oil men. The raw
material costs no more than last year,
freights are as cheap or cheaper, and
their products are largely increased in
value. Crude oil is now worth at New
Orleans 37a3Sc per gallon and refined
at 4Sa49c per gallon. Seed meal is
SIS to 5000 per ton and cake s22 to
$3.50 per ton"
1t is not our object in this article to
defend ourselves, as no defense is
necessary, and we do not propose to
make any but we wish to state some
facts which will show some of the
errors into which the writer OF your
editorial has fallen no doubt with
out any intention Of misleading
his readers. He states that the raw
material costs no more than last year"
The facts are that last season, during
most Of the month of November, all
the month of December, and part of
the month Of January, the price of
seed was seven dollars per ton, and
mills here did not want it at that,
and requested planters to withhold
shipments. Crude oil was then worth
81 cents per gallon, and cake SIS per
ton. AT the present time (and the
same is true since the commencement
of this season., the mills here have
paid no less than 50 per ton for seed,
and in some cases, from remote points,
and because of excessive freights, the
cost has been equal to $40 per ton.
his is exclusive of drayage, which
averages 90 cents per ton. 1t will thus
be seen that the advance in prices of
seed this season over last, and previous
to this date is fully thirty per cent.
The present value of cake, delivered
on boat, is about $l8 per ton, and at
that price most of the cake
made here has been sold. The market
is weakening and it may go much low.
er. You will see that the advance in
cake this season over last is about 20.
per cent. AS to crude oil, the present
value here is about 81 cents per gallon,
or about 10 per cent. oyer the previous
season. The sales of most of the
Memphis product has been at less
price. Now, with these facts before
you, it is not hard to tell which has
advanced most in value or current
price-the seed or their products. 1t
is a well known fact that the labor of
all kinds is greatly more this a
than previously, and the same is true
OF drayages, cost ofbarrels, and in fact
expenses Of all descriptions, while
treights on oil and cake to New
Orleans is % to so per cent. higher. The
annual loss of seed sacks by the four
associated mills is from 10000 to 1OO,-
OOO. 1t has been their object since
the association was formed to pay the
people all they could afford to pay
them for seed, and they expect to
continue to do so. IF they could afford
to pay more than the present price for
seed they would certainly do it, and in
crease receipts and lay in stock so as
not to have to lie idle for 4 to 6 months
each year at a monthly expense of
hundred to one thousand dollars
to each mill. A great error exists
amongst the people as to the profits of
oil mills. They loose sight of the
great losses and expenses while a mill
is running, as we'll as when it is idle.
1t is, perhaps, not amiss to here say
something about the cotton seed as
ISOLATION" which is composed of the
undersigned, and which seems to so
much trouble some parties who do not
understand it. The main object in
the formation and continuance of the
association was to enable us to more
cheaply and conveniently handle our
business and at the same time have a
central office which our friends could
conveniently reach for purposes of
settlement. tits composed only of
the undersigned, and has no connec-
iton with any other mill in this city,
nor with the mills at st. Louis, the
mills at Little Rock, Pine Bluff, Hell
ma, Friars Point Greenyille, Refuge,
Vicksbprg, Nashville, etc, Then how
could our association justly be called
a monopoly" and from which there
is no %appeal?" Do we not pay as much
for seed as those mills who each act
independently and for itself? Ship
pers have the right to sell or ship their
seed to those independent mills ifthey
so elect, but should not abuse us for
trying to handle our business in the
best and most economical way. If
our business has been made galfSua-
tanning with a moderate profit to
stockholders, it is no more than they
deserve for the great risks and respon-
sibilities they have taken, and we think
we should not be reflected on when
we are dealing fairly and justly with
the people,
Another reason the tables NAV turn