The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-09-17
COTTON SEED OIL.
A SPECULATION FOR THE GOOD
OF MANKIND.
The vigorous Growth Of One OF
the Young Giants OF
Monopoly.

New York Sun: When Archie
Worth, mild hammered in business
hosrs ss when he is teaching his Sun
day school clafs in an Ep' scopal
church in Brooklyn, sprung his
famous Corner in peanuts on every
dealer from the Satq OF Virginia to
Baxter street, New York, down town
business men said the acme of specu-
lative ingenuity had been reached.
They taid peanuts wound up the catG-
lou
But that was several years ago, and
developments since then have de-
monstrated that Yankeeland has no
limi, to its speculative field. People
now speculate in butter, cheese and
eggs, and dabb e ia molasses just as
other folks peg away at stocks, grain,
petroleum, faro, horse racing and
poker. 1t is 81 natural for n great
many New Yolkers to speculate as for
these tolid cd gentlemen down in
Kentucky TO drink Bourbon.
The very latest wrinkle in the specu-
la'ive oil is the American Cotton Seed
Oil Trust Certificate, better known rs
| Cotton Oil Trusts to the brokers' OF
Sock and Consolidated Stock and Pc
troleum Exchanges. Only q few years
ago the oil in tie cotton gins at the
South was given away by the owners
OF the gins. Sometimes men were
hired to dump IL into the bayou. 1t
was considered q nuisance about the
gins, and the owners were glad to get
rid OF i. Then some bright young
mar thought it good to moisten the
feed cakes given to cattle, and the
manufacture OF cotton seed oil cake
became all at once a recognized indus
try.
A little later ore of our philan-
thropic citiz ms thought he discovered
a peculiar { ste TO the Spanish and
Italian oils sent over to make u
salads more ~palatable. People who
liked good things to eat we're fond OF
olive oil. The philanlhroplc citizen
said that our cotton seed oil was just
as good as olive oil any dSy in the
week, and would bet on it, too. Per
haps we didn't know as well how TO
get 1t to the refined standard neces.
ssry for use on the table, but that wal
On insignificant difficulty TO overcome.
Lets 70 to work and manufacture
the OIL" said thephilantbrol list, "send
IL to Europe TO have II refined, il
necessary, bring it back, and there are
heaps OF money In it for folks with
the nerve and cash enough to run
amuck Of the foreigners who have
made caste and Rofd clothes out OF
the trade in olive oil"
The nerve and cash were found, end
when the famous year Of the nine
teenth century was ushefed in there
were nearly fifty mills In the country,
from New Orleans 10 Connecticut,
manufacturing cotton seed oil.
In q certain sense the mills are like
the petroleum wells Of Pennsylvania,
only their production is more uniform.
Several month ago New York capital
lists thought the production of cotton
seed oil really ought to be controlled
for the good OF mankind. A big COM
bination with that end in view was
formed. Vice President i. A. Bos'-
wick, OF the Standard Oil Company,
was prominent in the venture, and a
guod macy fulks down town have in
ferred from his connection with the
movement that the Standards money
has oiled the path Of the combination
to success. The majority on the big
Petroleum Exchange believe this 10
be 80 because Livingston Roe and
George H. Lincoln, the pet brokers' OF
the S andard, have done much 10 boom
the trust certificates OF the combina-
ton.
The Standard people, however, do
not care to say much about their con-
nection with tho new enterprise. Be-
tween thirty aud forty mills are now
In the combination. They have been
capitalized in ratio to their production
OF cotton seed oil, and the Trust GER
tiicates, which the brokers on the
Stock and Petroleum Exchanges have
made a iavorite, have been issued
against the capitalization. In a word,
the value, speculative or Otherwise, OF
the Trust certificate should be a bar
ometer Of the production Of oil by the
mills in the combination, just IS the
value OF petroleum certificates should
be governed by the flowing of the
Pennsylvania WE'LL.
The par value of Cotton Oil Truss
is 800, and speculation began in them
three months sgo. They started at
$40, and it was a rare day when 500 Of
them changed hands. More mills
joined the combination, and the capt.
talization was increased from S25, 000,-
600 to $4,000, 900. This was, in a
measure, identical with the watering
process said TO be familiar to many
railroad directories, but Cotton Oil
Trusts went up all the same. They
touched S5S a few days ago, and yes
terday were S56 70. As many as 1000
have been dealt in at a session on the
Petroleum Exchange, and brokers who
have sung themselves honse bulhng
and beariDg kerosene have shouted
with profit about Cotton Oil Trusts.