The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-04

Greatest Organization OF the Kind in the
Morld-Camse. of the Dissolulion.

Greatest Organization OF the Kind in the
World-Causes ofthe Dissolution.
What was once the most gigantic trust
Of its kind in the world-the Virginia
Peanut Association-is now numbered
among the shattered dreams OF the past,
and the new year nnds the Individual
members of the concern facing the
fluctuations of the future alone and un-
supported. cr. as a member OF the trust
expressed if. each man Tor himself, ana
the Almighty for us all.
The dissolution Of the association
while il has been kept a matter OF eX-
IRENE secrecy, and only leaked out yes
terday. is by no means unexpected, as
some such action has been contemplated
for some time
The organization has been in running
operation since April d. 1894. ana may
Doe said never 10 have achieved the pur-
poses for which IL was formed. IL con-
frOiicd in a large degree, the peanut
market. but IL seems had no power over
Tine purchasing price of the product 10
was composed OF the following large
companies. The Gwaltney, the Column
hian Norfolk Storage Merchants and
Farmers. the Norfolk Virginia ana me
Standard. of Norfolk. Williams x son,
of Petersburg g.. r.. Day, Of smithheld'
Balm & Co. Of Wakefield. the Waverly
Peanut Company. OF WaYerly and ~
Levy d, Co, of Petersburg.
Up to the beginning of last fan the
affairs Of the association were marked
with some friction. and on the LIST OF
September the Columbian Gwaltney ana
williams * Son. becoming dissatl7nen
with the management, withdrew from
the organization. Since that time every
thing has been running smoothly enough
but the members got the idea 10 lhe-r
heads that they could make 70 better 10y
going b. alone. and on Monday they
met, every concern being represented eN-
cept Mr. Day. who Is M ar home. Tie
result Of the conference was unani-
nous vote 10 dissolve. The matter IL
seems, was not extensively discussed as
every one was ready for the question:
and even anxious 70 get out OF the trust.
Tho president Sir. *. 70. Elliott, OF the
Norfolk Storage Company, was empoW-
cred to wind up the affairs OF the Dig
concern. ..
A representative OF the Ne" baily
Pilot called on Mr. ID. Etheridge, presl-
dent of the Merchants and Farmers
Peanut Company yesterday ana a7heu
for q statement.
Il don't know as / can tell you any
thing more than YOU have already, SAID
that gentleman. I'VE simply met, agree
10 dissolve. and did dissolve. We thlilA
we can do better hy Ourselves-"ul Try
TO- any WAY NJ we don't then the Lord
help MS. for we haven't made anything
for year or SO. In fact, we nave he 7i
conducting business at a loss during lhdI
per,0d You see the association coHlou-
al the selling price Of peanuts uut eaoH
man bought Oh his own hook. Indt is
I.
81 but not al the price he wanted. me
producer has been getting too much tor
his pr0duct and this has been brought
about by some cranks IN the market VINO
have been dealing In futures, buying up
irons before they we're born. as II were.
I'm This yav they control the supply ana
we pay too much for the article.
"Whv don't you deal In a Few futures
vourself?" asked the reporter.
Excuse me-" replied Mr. Etheil'se'
Of got enough OF that some time as o.
II hasn't been many years since 9l"h {
any mere mind paying out S9lu" or
| srrn 40 any more than do 100000 now.
/ We'll an old fellow from Nansemono
| came fo me one day and asked me 10
/ take his crop at q certain hgure ne
declared that fl would amount 10 between
200 and -r3 BAGS. I closed with nm W neH
grooming time came around ne sent me
word. sent a boat up 10 bis place one
| lrorcht back $50 bags. Then she maze
another trip and her return cargo con-
.,..oI 81 i06 hays Ny friend wanted me
| 10 send back for another load. III" ! 90
80 No. sir. But ] Investigated ana ula-
| covered that De was buying up all tAe
| GRO, of his neichbors and paimine them
! ~, ON me- as his own This would nave
/ toan nm right. but the market was 4ah-
| inc and J was losing money on every
,CIrd Another time ] bought a crop
! f,foro ~ cot through sproutins THIS Time
/ the market rose. hut fate was as"ina.
! me and the entire crop was so dalnas el
! fbo+ I lost again. Since that ! only u'a'
! &, certainties-that Is. az TAR as cum.
| TO tell you the truth, Wou,u 49,,
! take stock in a flock Of nlacknit"7 ''''i'
/ deal with futures in peanuts.
.puf Won were asking me ABOUT lHa
/ o-socfaticn." said Mr. Ethefidse com
Inc back from these pleasing Iellil"i'
: .oross 81 don't believe there IS mlch
! ,,~~s to ten. We have CONSIDERABLE
,,-ncv out on the books, which VIII pa
/ 5fly collected. The dissolution OF 'ue
! association will not AFFECT the MAJ T.
! Tho Italians handle - per cent on 'D ~.
/ noanuts. and If any one ls dae,.'u !.
| will be them. ! am po7lp'-' 49,
! ftat There viii be- 10 change lh P'i-79
,-, i,,r,cdiatelv al any rate. peanuts
ave- selling at just 200 per cent more
,o-5av man they were q year ago ah'
Vim continue al the same rate dounlie.s
our prospects for this year are iai'iy
/ bright ,,,e ..., .r,,st
INST why the various concerns couia ho'
nril together may not be statea d is.a.,',
r. but one member Of the assocl"t I,l
| seated to the reporter that one Oh Ia,
,.rincipal causes was the jealousy lIla
/ rristed among certain OF the msll'. ~.
| However this may be. IL Is certain ne =,
~ any perrauercy or IN achiev
49, ,te ends which concerns OF this class
| strive for-NOrfOlk PILOT