The daily journal. (Salem, Or.) 1899-1903, 1899-12-22
limitations

ket, the Oregon grower will save th
day and put the business once more oI
! its feet.
Last year when crops were short il
Europe the very house that IL now des
ignated by certain newspaper as tin
"short-sellers" was the biggest "bull'
on the market, and all through thu
season Of '9s and '99 they bough
"long" As late AZ the latter part o
July, 1890, these so-called short SELLER
furnished TO the growers, through the
columns Of the Salem Journal, state
ment, showing the statistical position o
the hop crop Of 1898. In this statement
they stated that the brewers all over the
world we're going into the new season
with lighter stock than ever known,
while everywhere stocks in dealers
hands were practically exhausted II
was this condition Of affairs that gave
us all hopes and encouragement for good
prices for the 1890 crop, II was figured
out and admitted that with only an
average crop Of hops in England and
Germany hops must sell for at least
twelve 10 fifteen cents on the Coast, and
in the event OF the least damage 10 the
crop or the slightest shortage or "scare"
of one, the prices would jump TO fifteen
and twenty cents per pound, and u
short crop in either country meant
prices ranging from twenty to thirty
cents.
The market was in sensitive state,
and everyone, growers, brewers and
dealers, was prepared for good pricss
and successful year.
During the anxious days Of August,
which is always a critical period, re-
ports of good weather and prospective
bumper" crops we're cabled from
Germany and America. The well post
ed dealers, with branches in the hop
growing countries OF the world, saw an
immense crop staring them in the face,
and they Immediately took orders from
the brewers for future delivery at the
then going market rates. Growers
would not believe the reports and the
dealers could not buy. from them at the
outset of the season, and they continued
to take orders from the brewers for fut-
ure delivery with the expectation OF
filling them at fair reasonable profit
when the time for delivery came.
In the meantime reports Of large crops
in the countries mentioned were pub
lished everywhere and the brewers
journals were soon eager TO grasp the
Information and publish IL. The brew
or may state in growers conventions
that he is willing to pay 25 cents for
hops, but when il comes TO trading he
wants 10 buy them AS cheap as anyone,
and even when he gets them at q and Z
cents II pound, a glass Of beer costs five
cents just the same.
On October u, the OIegonian pub
l!shed an article compiled from the adj
vance sheets of the vice consul Of sthe
United States, Nuremberg, which
showed the estimate of the worlds crop
for 1899 to be phenomenally large and
on October 10 the English Board OF Ag- |
riculture composed Of hop growers pub
lished nm official estimate OF the |
English crop, showing il To be G6l 900
cwt., as against 300, 900 the year before.
While the European countries were
having favorable weather. Oregon was
unfortunately visited with rains that
kept up during the greater partoi August
and September, causing mould to set in
as well ~ causing second growth
which gave the hops dull greenish
rolor. A great many growers made the
mistake OF picking hops thai contained a
'prinkling Of mould.
When the hop market opened il was
soon discovered that only those growers
who had choice hops could sell. The
market commenced TO decline aud there
Vas absolutely no demand aud 1t looked
rs ii the bottom would fall out OF the
market "when the "shOrt sellers"
topped in and commenced 10 buy, and
I was their purchases that saved the
market from going all TO pieces just as
he "shorts" saved the day few days
go in New York when the stock market
vas in panic. We're il not for the pur-
'hases made 10y the short. sellers our
oregon market would have gone TO
'ieoes The brewers who did not place
heir orders early are now hOlding-back
that by their tactics they will
ct hops at their own figures. The
newer is not compelled 10 buy except
5 he needs his hops, and ii he thinks il
ecessary he can buy from hand To
nouth thereby worrying the holder OF i
he hops until he is forced in despera- 9
On Ia sell for what he can get. But
nth the short seller who has agreed 10
oliver his hops at a certain time. the q
ase is different. He cannot order and =
ny few bales at time, but he is {
,rced 10 jump into the market aud buy !.
uickly before the best are gone, aud he &
ammo, wait because he has agreed to !
oliver at a certain period. =
As We said before il is a question Of a
apply aud demand, and ii the growers a
Oregon sincerely believe that there is ?
OF a surplus Of hops this year and that :,
he brewers viii require every pound \
Used then NE certainly advise them IN