New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-30
A CORNER IN CAMPHOR.
THE MARKET CONTROLLED BY A sYNDI-
CATE OF LONDON SPECTATORS.
COLONEL NORTH. THE NITRATE KING" HEADS
THE PARTY WHICH CONTROLS PRICES
AND THEY ARE STEADILY ADvANC-
ING-EFFECT OF THE JAPAN
CHINA WAR.

CHINA WAR.
~. wholesale price OF camphor has been ad-
~.,cas between FIVE and ten per cent within the
,.s, week and further advances are expected 1t
.rrs,rs from conversations had with representa-
lives NJ several leading drug firms and importers
yesterday that the market has been cornered by a
London syndicate headed by Colonel North. 1.-The
Nitrate King" This syndicate. II is said has 81
800 900 worth OF csmphor locked up and is ready TO
increase the quantity stored rather than allow any
10 be sold excep; at increased prices.
When the syndicate began operations, few
months ago camphor from 81 10 IS cents a
pound. II Is from 80 TO 50 cents pound and
there are some sangulne spectators who predict
that within few months it will be from 80 cents to
8 pound
The opportunity TO corner caniphor Is one OF the
results OF the Japan-China war; which has cut
OF the supply of crude camphor from Formosa.
whence large quantities were formerly received
The camphor is indigenous 10 Eastern and
Southeastern Asia from Cochin China north
through the Chinese Empire, Formosa and Japan.
Fornosa was formerly the chief source OF supply
but nearly all the camphor consumed has come
from Japan for the last two years. Within the
last Ave years the japanese have refined camphor
extensively in competition with American rehners'
who. being protected by an al valorem duty OF only
10 per cent. have been unsuccessful in competing
win the Japanese refners whose wage-earners re-
ceive only about Is day. on account of cheap
labor and low customs duties the japanese rehners
are able 10 underscll the Americans.
The quantities OF camphor imported into TINS
country during the last four years the fiscal year
ending on June 60 follows: 1881. $50 ga
pounds 1892. 1865 pounds 1885 l72S'4@; iS'4'
! S23.9S2 pounds. The Wholesale price OF campnoI'
ger pound. June 80 1887. was 25i2 cents in lS*-
Is cents: in 1898 Il cents. and in 1894. 81 cents
Various excuses for advancing the price OF CAM
phor have been invented by willy SPECTATORS al
different times. II was once declared that camphor
was an important element in the compounding OF
modern explosives and must. therefore. become
very dear but. a leading wholesale druggs,
said yesterday Tina, game didn't work because use
A. was found that tho Iamphor decomposed 700
quickly TO be formidable ingredient of ex-
plosives ,. .,
Regarding the present outlook prominent mem,
Der OF the drug trade said: The principal demand
Sor camphor is in March April. May and June ana
when druggists begin to lay in their stocks ~ 40
doubt prices will considerably higher Inc
price Of camphor has been kept down WITHIN me
last few years by the extensive use OF ndpnthahne
balls as a protective against moths ON account
81 the disturbances in FDrmosa II may be year
or more before any camphor is shipped from there,
as II is quite likely that the Japanese Government
viii remodel the entire industry. While the price
o. camphor is likely to continue to advance 1t IS
impossible 10 say when or how much II VIII ga,
vance as the market OF the world is controiied
by the caprice of the foreign syndicate headed by
North"