The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-28
People Puzzled Because the Peanut Market
Appears TO Be Normal,
THEY SAY THE CROP IS SCARCE
hut This Is Largely q Matter OF sur~
IN SEQ Few Pointers on tho Press
ent Situntion-wiiI tho Price Of
Goobers AdvnncoT-somo quotas
tfOns.

The peanut market has assumed
something like normal condition, and
as result both cleaners and producers
are more or less aSton.shcd. 1t has been
50 long since they have seen the market
In that fix they do not fully UNDER
stand 1t.
1t is harly the thing to say the situa-
ton is Interesting. Peanut situations
are always interesting.
In the past ten OF twelve days there
has been an increase of half Il cent in the
price of COOLERS. This is variously eX-
planned, most usually, though, by the
theory that developments have shown
the crop to be small. at least, that is
what is now asserted. No one can actu-
| ally tell about these things.
n well-known Norfolk cleaner recent
Is beat the bush around Suffolk for
stock, and bought, rs he believes, all
the peanuts In that section of the world
except seven hundred bags. should
the price go up To four cents this same
cleaner would be surprised if something
like thee thousand bags were not Of
fercd for sale from this same COM
munity. II is an oft told tale. ~ manu-
facturcr goes to !, farmer and asks him
how many nuts he has. ''Oh. about
'.wenty-1ivc bags" replies the Guilclcss
countryman. When the price advances
to about four cents this Identical guile
less individual discovers that he has
made a small mistake. He has aDout
five hundcr bags.
They We're up his sleeve.
1t is well known fact that when this
seasons crop was dug Il cry went abroad
through the land TO the effect ;hat il
was frightfully short When, however,
it was shocked, and it would seem that
fair estimate ought to have been
made, the report was disseminated that
the crop was the largest in years Now
it is stated, and pretty generally be
lieved, that peanuts are really and truly
scarce, and the half cent increase seems
to be justified by this alleged condi-
tion of things.
Certain it is that there IL we'll
grounded theory that the original adj
vance was artificial, the result of plan
on the part of certain operators to
squeeze firm which was believed to
be short. Said firm had nuts to burn.
however, and was right in the push
when the advance was made. Then the
price remained up, because of conditions
before limited at.
How long it will remain Is another
question. 1t Is The opinion of the ma
jorty OF cleaners that there will be no
decline, possibly an advance, though
the market al this junctu:e is not very
strong, at least not so strong as it was,
but :hcre IL no indication of n fall.
The operators are not selling any more
nuts than they can help, and this Is
an indication OF their expectations.
More than one big order was turned
down in Norfolk and elsewhere during
the day, and still others were curtailed.
On the other hand, buying is brisk in
certain quarters, and stocks are being
added to. This would seem to show
palmer than words that there is IA strong
belief that nuts will go still higher
l3u; 1t is 30 easy 10 break the market
easier than breaking into Jail. Let more
peanuts he discovered somewhere,
which would surprise no one let the
market get little shlky. and forth
with some cleaner who has been piing
up Soobc.S in his warehouse gets scared
and unloads. There is n slump; or else
this man. who has been outstanding his
stock, gets tired waiting for more money
and unloads. The same result of
course. Or perhaps the market may
so up quarter of cent. and the thrift
" operator decides that it is a good
chance TO sell. The chances are 1t will
so back three points before he can get
them all off his hands
It's fine life for n man who likes
excitement ana lots of IT, and is willing
to pay for il occasionally. But one of
the biggest peanut men in the State
said yesterday that while he did not
want 20 leave the business forever. he
would like 10 get out of 1t for just about
year and go away where he would
not hear Of peanuts for thai time, so he
could give his nerves n rest. He rather
yearncd to be a clerk in n grocery store.
or 10 he engaged in some other non-in-
toNicating businesS for awhile. He was
tired Of seeing peanuts wherever he
went, In his dreams, in his shoes, be-
mind the bureau-a sort of goobcrical
dcl.rium tremens. as /; were.
He Will get his wish some day, but his;
retirement will not be on the annual
instalimcnt plan.
If Virginia nuts arc scarce. the crop
OF Spanish is larger than usual. and
there is p!oba bilty Of n decline in
| them. North Carolina is planting more
of this variety this year, and an un-
! usually large crop was dug this Season.
The Norfolk market was quoted yes
terday as follows:
fancy Recommendations. 2ESGD 23i
strictly prime. ............... 2lI6l 2s&
!. &c., :. ................... l1"Hh 2M
lflack nuts '................... ! a .
Spanish. ......... (we1kl 571AGe0
The Gwaltncy Bunkiey people, Of
Smithftcld. however quote rs follows:
! Shields fancy hand-p!ckcd. .. 22i
Suns fancy hand picked ~,
| Quais fancy hand picked 3H
| Diamond extra hand picked. ~,
! Cooms extra hlnd-piclt ed
CEcuS'..... .,......... ~
| No. Spanish. shcllcd .... 3H
! No. Spanish, shelled. oX
Extra large Virginia. shclcd.. :. :. none
! NO. | Virginia, shcllcd. 2ai
no. virginia. Shci'ed.... ........ .