New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-15
THE BROKEN PEANUT TRUST.
A LEADING WHOLESALER BELIEVES 1T
TO BE DEAD BEYOND RESURRECTION"
ITS THIRTEEN MEMBERS FOUGHT LIKE KILKENNY
CATS TILL THERE WAS NOTHING LEFT OF
THEIR OBSERVATION-DISCLOSURES OF
THE DISSOLUTION.


Concerning the dissolution OF the combination or
trust known the Virginia Peanut Association, the
managing partner OF a leading wholesale fruit and
nut firm in this city said TO Tribune reporter yes
terday: The combination Is not only dissolved.
but believe It is dead beyond resurrection. as 1t
ought TO be- 1t of the most contemplate
and harmful combinations ever formed. There were
thirteen firms and companies in the combination an
unlucky number They situated mainly IN
Norfolk Petersburg and Smithfeld Among the
principal members were the VI. Levy COMPANY Oh
Petersburg the Norfolk Storage, Standard Peanut
Columbian Peanut and Merchants and Farmers
Peanut companies. OF Norfolk; Gwatney Bruins
wick, of Norfolk and Smthheld and c. F. Day q
Brother OF Smithheld. The association was organ
lied four or five years and has since dis
solved and together again three or four times
but meanwhile IT has controlled the peanut market
greatly TO the detrment Of trade
The members OF the combination were always
cutting one anothers' threats. and they kept on
fighting like Kilkenny cats. until now they have no
organization and are not likely ever 10 have an
other. The cause OF the present and, II Is 10 De
hoped final dissolution was as follows; In an elor'
To force prices upward and secure abnormal ana UNI
reasonable profits the members nave carried o'ei
large scxs in warehouses for the last three years.
and some have hand large supplies OF nuts
tina, ar. three wears old Some OF the members. III
order TO sell more than their prescribed proportion
OF nuts recently issued printed circulars 10 the gen
eral trade announcing that they mad no nuts eAoop
OF the crop OF 1885, while their competitors were
overloaded with old stock. Others VINO hau oiu NUS
in store took exception to this method OF seeking
business They denounced II unjust, unprincipIed
and contrary to the spirit Of the ASSOCIATION rom
which they promptly withdrew the cotnpltiias.o Ia
wen; to pieces last Friday. Since then the wnoiee
price OF peanuts which Is now from Si2 70 AZ -
a pound has declined onehalf OF one GEM pun, Si
Whether or not there will be any further ltnnled!dse
decline | am unable TO predict Dut there T. ''''
likely to be IA decline than an advance, .,,o ga >,
Don IN
be kept in storehOuses for a fui year ~ -,
eroratng more than from PIP TO per cen, ~
=, nm, when kept for three years the utterioidt
forms an Important item The supplies Oh M 49,,
nv formerly came almost wholly from Alrica' pus
row re- nearly ali come from Virginia. The new
crop begins to in about November l. anu 90
ce,n,s Continue TO arrive throughout the val, a.
Ia rpe oantjtes are always carried over IN virginia
stnreho'ses Usually the price is about "a ce1t a
Mound ar the opening and about cents pouliu, a.
ihe close Of the wear counting from the mrs. rec.pus
Of new crop the average annual suppl! II az IN,
& O0 10 % 0O1 sacks. contang II" poul"n' e'' -
.o,.I ., from ln ono 10 1900 900 pounds