The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1891-04-30
PINHOOKED AND RN-BOUGHT.
Richmond Tobacco Journal


We have no way to estimate the
quantity of tobacco that:is bought in
barns before it comes to the warehouse
floor, nos of that pinhooked before :
sales when brought to market; but the
fact is apparent to any reader OF IN
terror exchanges that the practice IS
looked upon as an evil. We have
always regarded the pinhooker as an
expert often underrated: his talent
should be recognized, and surely has
its place in the commercial world. 1t |
cannot be said that he sstoils not" for
he does: first for profit and then not
to be detected as buyer or seller. The
next feature is deterrent: he sells
tobacco under planters names; that
is wrong-an injury 70 the planter
and it further throws the revenue
returns out, and a fictitious name is
species oflegalized fraud that the ware
hsuseman connives at, perhaps, too
often to turn a commission. One
warehouseman will squeal of the wrong
to the planter, and another will pro-
tect the pinhooker, and thus the
practice is perpetuated and protected.
Another evil is that tobacco sales are
thus often recounted, and actual re-
ceipts of the markets falsified with
returns, showing, by multiplied sales
of same tobacco, false market. 1t
is pity that tobacco is not openly
sold on merit, no matter to whom 1t
belongs-pity that prejudice is so
strong against one mans buying bis
neighbours tobacco, for its value; it is
this that has led to deception; open
fairness would be better for all. We
dare say that there are few men who
have not sold for one reason or anther
more or less tobacco under an assumed
name and how can these blame the
pinhooker when the regular buyer
does it at will, is question of con-
science.
We are justified, then, in assuming
that much tobacco sold in interior
markets is either shipped by specula-
tors from other markets, is owned by
a barn-buyer, or by the pinhooker,
or is pushed up by the warehouseman
or outside help of the order-man and
manufacturers. 1t is this class all
buyers have to contend with, and few
markets would be lively without such
side helps. Since much of this state
ment is confessedly true, and since by
no means all upland tobacco is planters
tobacco, it is obvious that our hogs
head buyer might as we'll buy specu-
lators' tobacco at home as elsewhere,
and all that they would have to do
would be to make market here and
their own market for it, for they would
stand better chance of buying it at
a real market value, and by their own
selection, regulating prices at their
will; but some prefer to be duped into
dubious ways by dozen markets than
to build up at home. Let the legiti-
mate buyer take his chances in inte-
rior and this market. There is no
merit in our buyers showing their
hands to spectators on dozen mar
kets and retaining from doing it on
our home market There was more
activity and prosperity in all the
markets when there was more visible
life in the market. This is what all
interior markets would be glad to see.
The competition to sell on the market
would be a self regulator. Those
markets which could sell here lowest
would sell most, and tobacco bid
high would seek its level here-the
balance wheel and regulator market,
that all smaller markets more or less
need. Resolutions from a dozen
leading men in our Richmond trade
would soon right the matter for the
best Of all the Virginia and North
Carolina trade, and the day is not
| distant when some action of this sort
! will be necessity, or else we must
yield to the combined influences of
all or any other market. Our capital
and low insurance and storage charges
now makes the trade we have, outside
of what is bought on interior markets.