The times. [volume] (Richmond, Va.) 1890-1903, 1895-08-01

why names of Parties Who sell and the
Figures Cannot lie Printed.

To the Editor of The Times.
Sir.-In response to your request that
/ should write TO you upon the subject
of the dcclination OF Tobacco cOmmis-
sion merchants to give the names OF
parties whose crops they sell and the
prices obtained for them. Tor Iublicators
together with the reasons for such re-
fusal upon the part of tobacco commits
sion merchants. and. indeed, Of all COM
mission merchants whether they be en-
gagged in handling tobacco or Otner COM
mOditles. TO give 10 the puDllc the terms
upon which they do their private trad
ing. / have 10 say. that ! have this day
interviewed several parties actively en-
gagged in the tobacco commission bus
ness, and also the secretary Of the Grain
and Cotton Exchange, IN this city, ana
give below, what all and singular Of
them have TO say in the pr ;mises-to-
wit:
A tobacco commission merchant says:
I'm the first place, the purchasers object
to a comm. ssiOn merchant giving the
names Of owners Of crops. or the prices
at which they are sold; and higher prices
are frequently obtained upon the conal-
tion precedent that prices are not TO be
quoted.
The second place. II would be imnolitic
to give prices at which crops are sold to-
DAY, because it would affect the prices az
which crops are 20 be sold tomorrow, aiId
void be in der)g atiOn of the Interests
of both the planter and the commission
merchant"
Another tobacco commission mar,h liant
says. "The main reason why We cannot
tell prices is that the purchasers object
If one purchaser can find out eNactls
what another purchaser is paying iof
goods such information would enable
him To more successfully comp IT. with
his opponent in trade, and II the con
sImers Of the raw material knew me
figures at whist the dealers ron whom
they. I'm turn. get their supplies, bought
such knowledge would enable them TO
heat down prices and be anything else
than liberal in their offers. thereby d.
recily injuEng the middlemen, and lu-
directly injurng the farmer.
A tobacco planter says: THE owners
of crops object to pr.ces being quoted
because of the rivalry between the pan
ters themselves. \ planter may think ne
has good thing and not WISH others 10
get on to it, or IL he makes poor sale
he does not care for his peigh5ois ana
acquaintance 70 pc Informed or me
fact"
The secretary Of the Grain ana Cotton
Exchange says: THE Grain and Cotton
Exchange has ret reported for me news
papers any private terms Ct. ID tfah,-
actions for the past two % years thoush
they do have sales on private terms
P t. on that Exchange al this time.
ore reason for not reporting the private
terms IS that all OF the sales male on
the Cotton and Grain Exchange are PIT
vatc that Is. they have no auction sales.
Several buyers may come 10 member $
table and make the same bid, and In
order not TO give offence 10 the buyers,
the seller having the option as 10 Which OF
all the bids made ne VIII accept, quotes
his sale p T.. Another reason Tor il II
that sometimes a bid may be lttlc over
the market. and therefore Is not quoted
sometimes sales are made AT hsuIes
higher than the market. and sometimes
at figures under the market quotations,
e. g. a man may be entirely out or a
certain line Of goods, AMI for that DAY
may be willing 20 give more than the
market price IN order 20 cut another
party out and supply himself ana not
wishing 10 force the market up so that
he will have 10 pay more Tor goods IMAM
he otherwise would. his necessities having
been supplied. he MAKES II CONDITION
precedent that sales 10 HIM AZ figures
above the market shall be quoted II. T..
or IL may happen that several commits
sion merchants have grain on the market
from the same shipper on the same Jay,
and In order that their competitors ~
business may not know the prices each
or any Of them obtains they quote their
sales p. r.
ing sales under market quotations, g. X,
condition of the goods. or 10 close out
the balance OF consignment, or lot
other cause. and that the market may no.
be affected by such sales. they are re-
ported. PIT
While much might be said on the other
side Of The question. II IS not without
DIRECTIONS.
formed that rehandler Of tobacco. who
resides i'm the city Of Petersburg. Va,
broIght samples Of tobaccos 10 Richmond,
Va. on Saturd ~ last and that the test
offer ne could get on the Richmond To-
tacco market was s. per hundred. VIII "a
he declined, and having his tobaccos re
sampled in the city of Petersburg he
sold them on that tobacco market for
Sll per hundred. Now varioIs reasons
NAV have operated 10 preclude his get
ting better offer on this market on
Saturday; a principal buyer may nave
been off the market on that day. or
those who saw the tohaccOs may have
had no place for them at that time; but
il would have been misleading 10 quote
only s. per hundred on such tobdccos
on the Richmond tobacco market, ana
sil per hundred on the Petersburg tobacco
market: 10 do so would be- unfair 10
Richmond and would give Petersburg q
prestige she does not deserve.
| hope that this explanation VIII be
satisfactory, If not. let me know your
views upon the subject. and ' VIII en-
deavor. as far as / can. 10 carry out
your wishes in the matter of prices cur
rent on tobacco.
Very truly yours.
CAZNrAT MCLEOD,
Sec'y Richmond Tobacco Trade, etc.
Richmond. Va, July 50. 80.