The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-01-11
THE RICE MARKET LIvEN1Ne UP.
An Active Demand for the Grain, abu
No Advance In Price

An active Demand for the Grain, but
No Advance In Price.
The rice market is reported by the factors
TO have hvensd up considerably since Christ
mas, and there is now an active demand for
all grades Of rice. The prices have not in
creased any however, and the prospecte for
the planters getting their money back are
not much better
The receipts of rice at Savannah to Jan.
l were 4S7, 1852 bushels, of which 1S4,511
bushels had been pounded. The stock on
| hand was BOB, 22l bushels. The receipts to
that date exceeded those of the same date a
year ago, 119,27S bushels, and $4,000 more
bushels had been pounded than year ago,
while the stock on hand was only $1,000
bushels greater than the same period last
year. This makes very good showing for
! the output.
The prices that have prevailed this season
are lower than at any time since the war.
and, though trading is active, there appears
TO be very little prospect of an advance in
prices.
The New York Shipping and Commercial
Last OF last month contains an interview
with Dan Talmage Sons, the great rice
brokers, upon the subject OF the depression
In the rice market, in which some sugges-
tons are made to the planters and factors
that may be Of value. They hold that in
sponsible for the depression, not only this
fall, but every fall. They believe
this and not the large produc-
ton to be the cause Of an
nual depression and low prices Their
argument appears to be sound. The sgri-
cultural portion Of the rise business is well
developed they say. The planters have no
difficulty in raising large crops. But the
planters normal financial condition is that
OF debtor. AS soon as he can thresh his
crop he Is forced to ship to the nearest mar
ket to be disposed Of there by his factor at
the best prices then prevailing. The factor
VINO Is not strong enough financially him
self to carry the crops forced upon him is
forced to sell at once in competition
with any amount Of rice that may be upon
the market and in this way prices are de-
pressed. AS long as the present plan OF
dumping one-third to one-half the crop on
the market during the last three months Of
the year Is pursued, says Talmage, this
annual depression will always occur. Every
body takes advantage of the condition of
affairs TO buy as oheaplY as possible aud
there is no element to maintain prices.
This state of affairs Ialmage charges
largely to the factors who should long ago
have had the foresight to make provision
for the handling and storing of the crop so
that 1t could be disposed of in a more
advantageous manner.
The following suggestion is made: What
Is now needed-what has been a pressing
need for years-is suitable storage facilities
in elevators and warehouses distributed
along the rivers, bayous and railroads,
where rice could be received from the
planters, famed TO supplement the planta-
tion threshing process. graded. under gov
eminent inspectors, into say three qualities
each OF the various generic seeds, and re-
celpts given therefor showing the kind OF
Raa0 the Urana aud IN, hOrr
or bushels This receipt should show rate
OF storage per month. the amount of
charges III any advanced thereon, and
the amount OF insurance, and an agreed,
just and equitable allowance for shrinkage
so much per month for certain months,
should also be printed on this receipt. Thus
Its worth on the market any given day
could be ascertained as easily as computing
the interest on a note. In this shape tue
planter, instead OF shipping his rice to a
glutted market, could send his receipt to his
factor, who could put the receipt in the
bank as collateral for loan, or could sell il
TO some miller or Spectator; or IL the
planter be forehanded his rice is safely
housed, insured, and in the best possible
shape for him to dispose OF il when his ne
cessities or his judgment incline"
The advantage to buyers under this system,
II is also held, would be much greater than
by the present methods. The Shipping and
Commercial List says editorially upon this
| subject, that 1t is not the unusual produc-
tion that is responsible for the general de-
preston and the unusually low prices. The
crop OF last fall, as large as it is is said to
be less than half the consumption of the
United States and until the domestic pro-
| duction reaches more nearly to the amount
OF consumption, it argues that there is no
| reason why large crop should depress
prices to such an extent as at present