The times. [volume] (Richmond, Va.) 1890-1903, 1901-10-26
LII. |! IERESl
NAR|KET
Stocks Were Dull and Trading Was
ListIess.
THE ALLEGED TOBACCO FIGHT.
What a New Yo,k Dealer Thinks About
the Ruinors-Much Unnecessary Ex
ci.emen:--No Price Cutting
Probable.
THE. ALLEGED TOBACCO FIGHT

peake anGs Ohio were one per Cent high
er, but eased Oft before the close q ~
o. showed an increase for the third week
in October of szo,UoG Several otner roSuS
showed substantial gains III earnings III
the same period
The market was so embarrassing tina.
the space is better occupied by the I'll
lowing from the New York Evening lost:
much unrso essary excitement nls been
reused by this entry of Americans into
the BRUSH manufacture OF tobacco.
said one OF the first authorities IN that
trade to-day. You must remember III
uE.s matter that the American Tobacco
Company has long had a good export
trade with Great Britain. That the Os-
den S, Limited, interests were thrown into
a panic by tile threat OF .ne YANKEES TO
open plants Of their own in the United
Kingdom was simply due to the fact that
competition in prospect is almost always
worse than reality. 1t has proved SO III
the New II rk stock market each time
the American and Continental companies
have been threatened with opposition
1t is altogether likely to turn out the
same way this time. Once the rival eS-
Establishments or rival interests. the COM
ing of which prompted.the formation OIL
the Imperial Tobacco Company, have pc
gun their operations, l look 10 see ti.e
British trade adjust itself 10 the new
|
serious disadvantage. Just now there IS
much SMOKE and i,ttle lire.
"Curiousv enough, it has been remark
ed that after each combination or ANAL
r;l1nation, though the general business
grows all along, the sales of combined
companies fall off from the totals which
Their combined sales reached before tiley
We're joined. The concern absorbed fails
to hold all the business it brought in
Competition in this aspect at any rate
is not an unmixed evil.
No fnIGE CUTTING.
NO doubt an aggressive campaign Tor
custom will be pursued abroad, but the
meas utes taken, II like those adopted here,
will be less in the line CT direct price-cut-
ting than of advertising and of coaNlng
| trade advertising on a large scale will be
! used to get over the heads Of jobber and
| dealer and at the consumer, with the view.
! to creating a new demand. With this de-
| l1and to help efforts will be directed to-
! wards filing UP the jobbers and dealers
| with large stocks. and. TO push the sale
| OF familiar goods, resort will be had to
! the bonus device. the sctc-lc OF giving
| the dealer a certain number of cigarettes
| free with each quantity OF tobacco
! bought. or d pound TO five pounds of
| tobacco free with each THOUSAND cigar
| cites ordered.
| when time temrers their first alarms
! it will be found that the British man
| utactu1ers are in excellent case. Their
| position is strong, on the sides OF finance,
| friendly relations with the distributing
| trade. and preferences and habits OF the
consumers. They may not be quite SO
! we'll supplied with labor-saviHS machinery
| as the American Company, for that con-
| Germ has been buying all the good pat
ents it could lay its hands on for years.
! But | am not aware that the English
| have been working on too wide a margin
] Of profits. Judging by the trade journals.
! they sell as closely as the American; in
| deed. the margin is probably somewhat
| narrower. They buy rs cheaplv too.
! Large quantities Of North Carolina and
| i>el.ucky tobacco are taken for the
| British manufacturers, while for their
| cigarettes they use considerable Virginia
| of excellent quality. The chief advantage
| had by the American here is the saving
! of freight but il the American is to work
up tobacco abroad it will lose that The
| principal sales of raw tobacco are at the
| auctions, where one buyer has as good a
| chance as another. The American does
get some by purclla ses of its buyers from
! the farmers. but il The Imperial is SO
| inclined it can pursue that method as
! We'll
ANNOUNCEMENT PREMATURE.
My own impression IS that the an
nouncemcnt Of an alliance between the
|
! al least. Surburg IS the American agent
| of the Wills OF London and Bristol. and
f! he is now in Europe. But likely enougL,
negotiations are pending. There WouiI
| be no object in attempting to push the
{ sale of British goods here, for they would
| have to contend with duties and double
ocean freights. On the other hand. the
! purpose said to have been announced
| by James &. Duke that he would spend
/ 5,0c0G00 in fighting the British interests,
| is not likely Of fuiilmcnt. He may have
/, said it, however, for such threats have
| seemed or other occasions to be Il regular
feature of the Americans methods OF
terrifying opposition.
III the Universal Company, which in
| cludes or viii include the McAlDin as well
as the Tlrco-Egyptian and Harry Weis-
singer plants, is patient, makes good
! goods, and is conducted with technical
ability and skill, there is no reason why
| 1t may not become a large and strong
! conc5rn. have always believed tina:
.ir. M i. l<itIer vas disappointed and
/ CHI, e5rilct BY ti>e absorption Of tFl; Union
I tfobaccc,s Company INTO the Trust Ths
/ Fi2liats1pllla. syndicate Wtlitrey. Widen
/ q. R:.a,as .aG E.lstts werc responsible
| for this and 1t was rartIy thNttgn the
/ LTnN1n si1at trcv ,.lauaSeti Ia ,fcu'irc
| their nreeent pas;:ion II The American
! Co,nnanr. u on t;,e contrary. those in
I CCTSf0t of -.tJ1r / rHftHrS;tl center tH11r
| attention upon av1'aiti1@ tho Wall Street
| en1 of Tie affeir. \ different result may
| be cSrected 'ln union with the FIararla
| Commercial Company, Sid to he under
I! consideration. is hardly calculated. to
| sire n"4nn's tho positinr of the Universal
| In a fight with the Trust
The Produce Market.
Receipts of all kinds of poultry have
! been rather light TINS week. The mar
ket IS in somewhat better shape. and
! prices are firmer. chickens We're very
active yesterday at II to Il IL cents per
| pouno. Ducks and large, fat turkeys are
also in good demand. the former selling
| at 9 to II cents per pouE..
Eggs, also, have been coming in SLOW
! " during the week. and the market closed
! yesterday with good pr'ces Crate eggs
! are selling in the neighborhood of IS
! cents per dozen.
Choice butter is in good demand an. is
selling ats to Is cents per FOUND. Other
! grades run between II and Is cents.
Apples are worth s. to S. per barrel.
| Onions sell for s2,25 to s2.75 per barrel.
A sugar barrel of ca bbage is worth s1.7o
to So