Savannah morning news. [volume] (Savannah) 1868-1887, 1886-09-09
THE RICE CROP ISSUE


A considerable excitement seems to pre-
vail in New Orleans over alleged misre-
presentations OF the rice crop, and the
feeling has become so intensified that the
Produce Exchange has issued the follow
ing:
NEW ORLEANS PRODUCE ExcHANGE,l
Aug. IS, 1886. !
In view OF the fact that reports have gone
abroad stating that the rice crop now being
harvested ls uhripe aud understandable, the
hNchange, after a careful and thorough in
vest CATION. pronounce all such reports false,
without foundation, aud calculated only 10
lnlure the rice interests of Louisiana.
Upon careful examination the incoming
crop Is found tn be exceptionally fine, well
maturcd and entirely safe to handle.
DENNIS LANAUX,
Chairman Rice Committee.
II. G.. SMITH, Sec rotary.
We gather, from long editorial in the
Times-DomOcrat, that Messrs. Dan. Tai
IMAGES Sons & Co. are the chief, if not the
only offenders. The Messrs. Talmage are
too well known in this city to need any
Endorsement. With forty-fve years Of
honorable commercial record, they will
undoubtedly be able to survive any at
tack. Mr.. Jonn f. Talmage. the senior
OF the firm, gave their side of the story as
follows: Mr.. Talmage said: "a mountain
has been made out OF mole hill. From
time to time we issue circulars to our
trade, and in them we give suggestions as
TO what we think will be the probable
course OF the market. They are not based
upon seli-interest entirely, for we
try 10 give a forecast that will
serve our trade in operating. There is an
old saying that Wise men change often:
fools, never SO our opinions have to be
varied according to the time OF year and
condition OF crop. When we prognosti-
cate rise we are called bulls and re-
ceiye many God bless you from the
rice grower and Spectator. When, on
the other hand, we advise caution or pre-
dict lower plane OF values, we are called
bears ana then receive the Condemna-
ton OF the aforementioned. 1t makes but
little difference TO us, however, what they
say, as we find, TO use Western phrase,
Talk is cheap, but it takes money to buy
land We have long since found that
our capital in trade is the good will of
our friends and patrons throughout the
country. Here is the head and front of
our Offending in this particular instance"
With this, MIR. ralmage handed the fol-
lowing circular:
NEW ORLEANS, Aug. 10 New crop has
been Offering IN limited way for past ten
days, but as many of the cuttings were green
we felt indispOsed to operate. Now the crop
is arriving in much more liberal supply, and
the present tine harvest weather has resulted
in more thoroughly cured goods. We would
not advi,e our friends to buy largely, Judging
1t safer to purchase sparinEly till the crop is
harvested and the market finds its proper
level. Price of new crop ranges from &c. TO
&c., quality good to prime. 'So-called' new
crop, we understand, has been offered for less
money, but on Investigation we find that some
enterprlsing genus is trying to work OF his
old remnants under the new name. An old
racket; it don't pay"
Mir. Talmage then continued: "We
consider that very temperate statement.
Rice always declines from the opening
pOint-sometmes very large item-this
year having been no exception. AS re-
CARDS the condition OF the crop, you will
note that we refer incidentally to the
fact that many of the cuttings were
green but in the next sentence-nOte
the presence of thoroughly cured goods
1t is hardly necessary for US to have any
statement of ours corroborated, still we
take pleasure in presenting certain evil
dence which will show that we were
warranted in making such. We have in
cur possession correspondence from
those largely interested in rice in
Louisiana, from which we gather
that the rice was being badly
damaged because of low water, the river
being too low to allow pumping. And in
reference to certain rice that was shipped
to this market, the comment made there
Oh Is, 'Ddulg DTOkSn anu CUdIkAs cut 700
green The quotation, by the way, to
which we allude is taken from letter
dated Aug. 49, while our circular was
dated Aug. 10, SO it is evident that others,
as wen as our manager, were aware Of
the condition of the crop. l dislike to
contradict any statement or the New Or
leans Produce Exchange, for they are an
honorable body; but they certainly have
been misled. IL states, upon careful eX-
H. 4
be exceptionally fne.' You Will note that
their circular is dated Aug. %.
call especial attention TO The date, for on
Aug. 81 we received from those who are
the equal of any IN rice. the following:
Have personally visited (day before yes
terday, 10Th the rice regIon, and with our
own eyes, have seen large quantities Of
rice that Will not pay to cut on account |
OF it's dried up n-yellow-scarce- |
ly any beads. You can surely say that |
all the young rice, about one-quarter Of |
the whole crop, is badly crippled, to what |
extent time will tell
II note that you state in your circular |
that some one is trying TO work off his Old |
remnants under the new name.'
"Thatw8s, and IS to-day, Il fact. There |
were carried over ABOUT 30 600 TO 90 600 /
barrels Of rough, which would perhaps 1
make 10000 to 20, 600 clean. These parcels |
o! course look UIlSuJ anu fresh. anu are |
really good rice, All that we objected to
was the untruth. We believe in calling |
things by their right Names"
"a report has been circulated here that |
a combination has been formed against |
you in New Orleans with view TO drive
you from the trade"
ave believe there was some attempt,
but like all foolish agreements 1t could
not be consummated. If ii were not ego
tsical we would say that we can do
more easily without New Orleans than
New Orleans can do without u.s."
ais it not strange that such warm ex-
ceptiOn Is taken TO your coursep
"Well, it would strike us as very odd
did we not know the true inwardness.'
The secret Of the great hue and cry is
this: When the crop opened we had
large number OF open orders by which we
weEe able to pay any reasonable rate for
early arrivals. These were picked up and
shipped 10 our thousand and one friends, |
but our pure bases evidently misled others,
as quotation from one Of our friends
in New Orleans states: our market
shows more life since yesterday. Since
the trade found out that your firm had
bought, they pitched in and bought nearly
ali that was offered. Prices are frmer.'
Having completed our purchases for i'm
mediate delivery We stepped down and
out. The Others who bad purchased in
of orders found themselves
without their host, and tire market hav-
ing declined nearly n cent "a pound are