The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-09
TRYING TO BEAR RICS.

An Impossible Decrease In Rice Fre-
dicted by Interested Parties.
The rice men are discussing in no compli-
mentary terms an attempt made by New
Orleans concern TO bear the market 10
most unwarrantable degree.
In the New York Shipping and Com.
nlercidL List of December was printed a
circular issued by the Consolidated Rice
Company Of New Orleans OF which Wtlmoe
D. Porcher OF Charleston Is president. 3.
B. Daniel Of New Orleans vice president
and manager, and H. G. Wess
of West g. Melchers, New York,
secretary. The circular was
printed by request Of the Consolidated Rice
Company.
The circular sndeavors 10 show that In
spite of the extremely low price OF rice an
examination of the figures proves that
there is obliged to be a still greater decline
1t gives figures endeavoring 70 bear out this
impression. Il states that about $4,000
sacks of the Louisiana rice crop have
already been shipped to New Orleans, and
places the amount remaining TO be shipped
at from roo, 900 TO l 200, 900 sacks.
IL estimates that with the visible amount
OF rice now held in New Orleans added 20
the probable receipts will give New Orleans
alone l $50 900 sacks of rough rice TO dis
pose of between now aud the new crop.
This would be 80 per cent more than the
whole Of last years crop. 1t also announces
an unusual accumulation Of rough rice In
Georgia and the Carolinas.
Upon these statements IL basis an argu-
ment that there must be q still greater de-
cline in the price of both rough and milled
aice, and unless this occurs 1t predicts that
large amount will have 10 be carried over
on next years crop. Ths discrimination Of
freight rates is given as a reason why there
will have to be decline of nearly one-halt
in he Ofo nFfN in trN
ply the wants of the Pacific slope.
The tenor of the article Ia to induce small
holders and shippers TO dispose Of their
holdings at once in order that the large CON-
Germs may gain control OF the crop and fix
prices 10 suit themselves.
In the same issue the Shipping and Com
| rnerciaL Last proceeds 90 contradict the state
ments made in the circular. IL the state
ments in the circular were allowed to pass
without contradiction, says the Ship
ping and Commercial List. they
might have a tendency to I'M.
settle the market and force the
prices Of American rice to an unparalleled
low plane OF values and far below those
| which, SO far as can be ascertained, are pre-
vailing, or have prevailed, in any part Of
| the world at any time 10 the history Of rice.
| 1t shows that equal grades OF rice are now
worth nearly the same in English and con-
tinental markets as In the United States,
notwithstanding the tariff.
The Shipping and Commercial Last gives
some data of the consumption or rloe in the
United States as going to show why there
| 10 not likely TO be any such decline Is pre-
dicted in the Consolidated Rice Company's
| circular.
The consumption Of rice In the United
| States, IL says, has for many years been far
beyond its production and importations
have been made during the past decade OF
SO, 000. 600 to 100000, 100 pounds per year.
This year, for the first time In the history
Of the domestic crop, IL somewhat approxi-
mates the requirements Of the United
States, but even now there can be no ques-
ton but what it will fall short, as present
low prices are stimulating the demand and
the movement up TO date indicates a prob
able deficit at the close Of not less than co.
900, 900 pounds and more than likely, with
the increased call for domestic for export
and In manufacturing channels,
than 100000 and possibly 49,
amount Of, say $4,000 barrels OF 800 pounds
net weight each, which cannot profltably
be imported under a cost OF say 4 to 81
cents per pound, quality at such range Gov.
ering common to head. The consumption
Of edible rice, year ending fail. 1891, was
1899. 232. 100000 pounds, and a
reasonable estimate, without any being
used outside Of the grocery de-
mand, is that requirements for pres
emit year will be not less than 250, 000, 900
pounds. To meet this there Is a production
now estimated of 225. 900. 600 pounds. OF
this amount, there has already been mar
keted during the past three months over 25
per cent, and IL the ordinary demand be
further augmented, as before suggested, by
any of the crop entering into export or
manufacturing channels, imports OF no
mean amount in foreign will be required.