The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1880-09-30
Cnri0sities of Speculation.

1t is curious to note what men will do
to make money. Some months ago
there was quite brisk speculation in
hops, there being as usual two parties
the bulls and the bears-composed in
this case of the farmers, who naturally
wished prices to go up, and of the brew
ers, who lust as naturally wished prices
to decline. The contest ragged furiously
in this city and elsewhere for many
weeks, as there was really large
amount of money involved. A we'll
known circular, publishing the quota
tions of hops here, gave great dissatis-
faction to the bulls, because its prices
were not up to their ideas; and, as the
commercial reporters had been in the
habit of publishing circulars, it was re-
solved, at injecting of the farmers,
not to subscribe for any paper that pub
lished the obnoxious quotations, and q
printed notice to this effect was actually
sent to ali the great dailies of this CITY.
With the right or the wrong of this con
troyersy it is not our purpose here to
speak. Suffice it to say that hops can
stir up tempest in more than one way.
Then again, some years ago, when il
was proposed to put duties on tea and
coffee, there arose mighty speculation
in these articles. One speculator was
credited with holding about so, 900 bags
ofcoffee; and the speculation in tea was
equally important. At the time of the
famine in Bengal, Hindoostan, some
years since, there was great speculative
activity here in rice, aud some heavy
losses as well as handsome gains were
scored. 1t was trading on the distress
edness of others, for the inhabitants OF
Bengal depend almost entirely on rice to
sustain lite, and it was assumed that,
when the crop failed in that region and
famine ensued, there would be great
demand for rice; but this was no worse
than speculating in breadstuffs, whereby
the poor are often the chief sufferers.
Again, at the time of the Russo
Turkish war, when Turkey was invaded
it was the signal for immense transac-
tions in opium, which now comes
mainly from that country. And even
now there is large speculation in this
falling off in the next crop. A number
of large drug houses here and ir
Smyrna, Turkey, control the bull
of the stock, and have already
realized large profits on theil
venture. Turkish prunes, at tn;
time of the war alluded to, were
also bought up largely by spectators
aud for while proved profitable; bu
ultimately this article OF speculation
which few would think OF in such ,
connection, proved the ruin of more thar
one strong house. Fortunes have beer
made and lost in indigo speculations
and, for that matter, this article has fal
more commercial importance thar
might at first be imagined. Then a few
years ago, when we had the potato-bu!
invasion, there was Il large speculation
in paris green, and the market advance
materially, partly owing to the large
demand and partly through the exer
tions of speculators. Another curiou:
speculation was that in canary seed
two or three years since, when it wa:
supposed that the crop would prove ,
failure. A speculator, with a geniu
for statistics, actually prepared an esti
mate of the number of canary-birds il
the United States, and the quantity o
seed consumed per day, and consider
able money was really made in thi
strange venture. And yet the case
cited here are but a few among man!
that might be named where what woulC
be called curious sorts of speculation
really pay better than half the railroad
or mining stocks that are foisted on
credulous public.-Frank LeSlie'S Illus
rate " eWSpGper.