The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-10-30
TONE OF THE RICE MARKET.
Rice Factors Say that They Will Not
Scale Down to Charleston Prices.

Rice Factors Say that They Will Not
Scale Down to Charleston Prices.
A Charleston rice dealer is quoted in the
Sunday Ne,os and Courier as saying: You
see the rice is being disposed of here at pri-
vate sale, and because we will not disclose
the prices, Savannah does not like it, and
says mean things about US" Another 'mer-
chant" Is quoted as saying "4OO barrels
were put on the market and sold to-day, ="
Saturday. while the commercial column OF
the NetcS and Courier says 1.-THE sales OF
rice to-day amount to 80 barrels" The
Philadelphia Inquirer of Saturday quotes.
Carolina is dull at So for choice"
leading rice factor of this city said
yestei day that Charleston had sold at 81.
Another showed MORNING NEWS reporter
number of letters from correspondents in
Philadelphia clearly showing that Charles
ton is undertaking rice, and one cores
pondent writing as late as Oct. 10 say that
he can place Savannah rice as soon as
Savannah factors scale down their prices as
low as the Charleston merchants are selling
at This Savannah rice men refuse TO do,
preferring to hold their rice at present que
tations, as the MORNING NEWS said last
Friday. That this also accounts for the
slow movement of rice at New Orleans is
sean by the commercial report OF the
Rcoyune. 1t says ''holders are firm in their
views and have withdrawn their samples
from the market Owing to the light crop
there Is feeling that prices Will go much
higher, hence holders are not anxious
sellers" This is the exact situation here
The mills, owing to the low prices. are not
pounding as freely as they otherwise would.
The disclaimer that Charleston is not I'M
derselling, rice men say is not a candid one,
nor is it made positively. That Charleston
is underselling, they say, is established not
only by the letters from Philadelphia cor
respondents to Savannah factors. but by
letters from Charleston Offering less than
the market quotations. ana q Is corroDo-
rated by the fact that when twitted with 1t
they say ''rice is being dispo ed of at
private sale, and we will not disclose prices"
Every indication points 10 present prices
remaining firm, and Savannah rice men
propose to wait until they get their price,
Tor they are getting for rice at nome what
Charleston factors have been laying it down
III Philadelphia for, and that sort of ''ac-
tivity in the rice market" is not desired here.
Messrs. Da1 TalInage's Sons ~ Co, at
New Orleans, in crcular of Oct. ", say:
The damage to our crop by the August storms
is becoming more and more apparent, not only
in curtaiiment of rough rice, but in the yield at
the Founders, which shows larger percentage
of loss than usual. The fine promise of mid
summer has entirely disappeared and it is now
questionable whether the crop VIII equal even
that of la t year Planters and all Interested
in the crop are beginning to realize the sltua-
ton and the market is hardening, and every
evidence favorable for marked advance, espe-
cially on lower and medium grades
There is another factor which it is thought
will tend to harden prices for the reclassifi-
cation of and advance of duty on uncleaned
Patna of 81 cents per pound, and practically
prohibit its importation. Rice men here
say that the figures quoted in the NeWs
and Courier are fictitious, as may be seen
by comparison with those OF the Journal
of Commerce of Saturday last, the NetcS
and Courier quoting prime at 5$4 cents
and cents when it is quoted in New York
at 5s4 cents as the outside figure. The rice
men have abundant evidence TO show that
they can sell all the rice in sight whenever
they drop down to the cut which Charleston
has made, but planters are advised of the
condition of the rice crop, and are willing
to hold for present market prices, and when
they sell they will have 40 reason to refuse
to disclose prices"