The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-20
A BIG SLUMP In STAMPS
EVIDENCE THAT THE PHILATELIC
CRAZE is ON THE DECLINE.
Oh..inI Figures Show that Dealers
Who Tried to Corner the Market
Have Played Losing Game.
Washington Letter in Brooklyn Eagle.

two in the Stamp-collecting business. AL
though the government clerks are supposed
to strictly avoid all dealings with stamp
collectors. they are in a position to ac-
curately gauge the condition of the stamp
market and they are unanimous in say
ing that interest in this fad has fallen off
wonderfully of late
Hardly a day passes without the receipt
at the Postoffice Department letters from
dealers or amateur collectors, asking for in
formation regarding certain stamps Some
OF THESE inquiries for lists giving the
prices of rare stamps and others are for re-
quests of certain issues that have long been
out of circulation. The Postoffice Depart
ment does not recognize the fact that
United States postage stamps are worth
any more than their face value and
In fact, there is a heavy penalty for post
masters selling stamps above par Letters
from stamp collectors became SO na-
merous some time ago that Assistant
Postmaster-general Kerr Craige found II
necessary to get out circular letter i'm
reply to these queries. This letter starts
out by saying that the Postoffice De-
partment does not buy or deal in cam
celed stamps. No specimen stamps either
domestic or foreign. are sold or given away
by the department Newspaper and PERIOD
lcaI stamps, either perfect or cancelled are
not permitted to pass beyond the custody OF
the postal authorities and on no pretext
ment also fixed the penalty for postmasters
sslllng stamps for any larger or less sum
imam the values indicated on their faces
py ,decreeing that any official guilty of vio-
ssaung this law shall be fined not less than
Soo or more than $500.
DECLINE IN CoLUMBIAS.
Probably the greatest drop in the prices
OF stamps is that noted in the case of Co.
Iumoian stamps. Rare specimens of this
issue that eighteen months ago were avav
above par can be picked up almost any,
where at their face value On account of
the limited number of some of the denoni
nations OF the Columbian stamps that were
printed there was a slight rise in their
value, even before they had all been ex-
hausted from the various postofices Tho
one-doilar stamp was especially in demand
and there was big scurrying around to
secure them. New York stamp dealer
MADE big bid to gather UP all that had
overlooked the notice of the casual collec-
tors He contracted with the Adams Ex
press Company to have the agents of the
company stop at every postoffice on the
company's route and buy up all of the one
dollar Columbian stamps that could be-
round. This had the effect of again boost
ing up its price, and IT was not long before
this denomination was quoted at from Is to
~ each One Of the big banks in San Fran
as an investment and number of indiyid-
uais went into the same business. After
sell. with the result that the marlSet was ne
soon giutted. Another case is cited of two
Phiiadelphia men who bought up all the
two-dollar Columbian stamps available II
is said that they invested between $4,000
and $4,000 in their venture and secured a
pretty good corner on the stamp market
They ran the prices of this stamp IN 10 "a
and 10 apiece, but for some reason thew
We're unable to keep their grip, for the
fha srfa
cured without trouble for their face value.
In fact Columbian stamps in many
denominations that were bought up are of
no value, except to collectors, and as they
dispose of them at par. The reason assigned
Tor the slump in the prices of Columbian
stamps is the fact that so many individuals
invested IN them as a matter of specula-
ton. The majority of these people knew
nothing whatever of the relative value Of
stamps TO the regular collectors, and after
Ialimg TO realize them at once they
nave sold out and so fairly flooded the
During the time when the craze for Co.
lumblan stamps was at its height the POST
fars fr department was showered with let
ing to purchase rare specimens Assistant
Postmaster general Craige again found it
reply to these inquiries. The department
does not sell or buy stamps, as all pur-
OF the 1000. COO, 900 Columbian stamps that
We're printed by the government only the
some postoffices they are not to be secured
at ALL OF the smaller denomination, how
piled with several million, and, in fact
they are the only 1-cent stamps to be had
in this city. 1t often happens that mer-
chants desiring to purchase a large num-
Der OF 1-cent stamps. to be used in sending
out circular letters, will send to Baltimore
rather than to have to take the big Cos
lumbar issues that are on sale here
TRYING TO BULL THE MARKET
Several years ago, at the request of a
number of members of Congress who were
being importuned for stamps, the POST
office Department ordered a reissue of fac
SMILES of all of the government stamps
that had been issued since 1s47 in which
year the first United States postage stamp
was printed. This set included all the old
departmental stamps issued by the Treas
ury, Navy, War, State, Interior and JUS
tice Departments. and made very valua-
BILE collection. They were complete liz
every detail. and, in fact, were printed
from the original dies. the only difference
being that they were off heavy
paper. After these stamps became scarce
they developed market value. The last
Of them was distributed years ago. but
even now Congressman occasionally re-
ceives request for set of the facsimile
stamps.
local stamp collector is authority for
he statement that there Is soon TO be a
united effort made by the dealers to re-
1--WE the dropping stamp trade. This move
s to take the shape of an attempt to
,ring back the boy trade which is neces-
ary for the success of the business. 1t is
Iaid that the reason so many boys have
abandoned stamp collecting of late years
s because of the gradual increase in the
prices of rare stamps The valuation of
specimens of all grades was slowly and
steadily advanced. and by one the
Boys dropped from the trade. They took
% collecting cigarette pictures and tobacco
ags, and the dealers soon began to feel
he lack of interest displayed by their
youthful patrons. Now an effort is TO be
made to revive the boy trade in stamps
md the first move will be to prepare
lumber of special stamp albums. This
winter a simpiied album. which will not
,all for stamps of rarity will be placed
IN the market. and bundles of common
stamps to be put sale al moderate
prices. IT is thought that in this way the
rade can be stimulated although Ii Is
conceded that ii will be several years be-
ore the stamps will be at premium
lgain.
1t is a fact not generally known that
here Is a local stamp club, known as the
Washington Stamp Club This is a growing
organization. with a membership OF sixty.
". w. Carr. paymaster of the Smithson-
an Institution, is president of the club
md among the members are Secretary
Herbert and Professor Howard, of tho
Agricultural Department. The club has a
ute of rooms in downtown building
md holds Meetings twice a month