The daily journal. (Salem, Or.) 1899-1903, 1902-07-24
WILL NOT
BEAR" THE
MARKET
Lilienthal Bros. Answer the
Eugene Guard
Conditions UnfavOrable for
Depressing Values

DORi SOOlllb NdluCO
A reporter for The Journal this
morning called on II. ]. Ottenheimer.
the Pacific coast representative of
Lilienthal Bros, of New York whom
the Eugene Guard says are the hold.
ers of $4,000 bales of 1901 hops. Asked
as to the correctness of this state
ment, Mr. Ottenheimer said that such
a report is simply absurd, and that
there are not 10 600 bales of 1901 hops
in the hands of ell the growers and
dealers in the United States. Instead
of holding 10000 bales, Mr.. often
heimer says his firm has not 5000
bales of 1901 hops on hand. and If
there were 10000 bales of hops in
dealers hands they would not contract
the growing crop at 10 cents per
pound. The truth is said Mr.. Of
tenheimer, 1T is the scarcity of 1901
hops, and the complete exhaustion of
all the hops in general that has caused
the advance, combined with the fact
that, owing to the prosperity of this
country, the consumption of beer has
increased phenomenally, and with this
Increase there is a demand for a bet
ter beer, one containing more hops,
and furthermore in New York the hop
crop is the lightest known i'm the his.
tory of that state. 1t is estimated that
the crop will not exceed $4,000 bales,
against an average of 10000 to 10000
bales
"As for England cables report that
; vermin are still plentiful, and that the
; yield in that country will be less than
100000 cwt., against a crop OF 6GO 600
cwt in 1901. So that from a statistic
al point Of view, there is nothing un-
usual in 2O-cent hops"
The reporter asked Mr.. Ottenhcimer
If there was any likelihood Of his firm
dumping their holdings ON the market
and forcing the prices down or bear.
ing" the market as the Eugene Guard
puts IT,
"ln answer to that question / can
only say" said Mr. Ottenheimer, that
assuming the Guards statement or
prophecy to be correct, it would be a
most silly thing for us to do, What OBJ
! ject would we have in depreciating
the value Of our own holdings. to say
, nothing of our contracts? Having
bought our hops cheap, the only bust.
r nesslike course for us to pursue Is to
, get all we can for our hops. and that
r we intend to do.
Ever since last December the argu-
ment has been used with growers by
, certain dealers, who were interested
in seeing lower prices, that Lilienthals
would dump their hops on the market,
g but as yet we have not done so. and IL
Is not likely that we will, especially
q when we require every bale we have
, to supply the wants of our customers
We are the only dealers in the bust
ness who have not unloaded their
hops, and we have inquiries every day
from our competitors, who are aux-
ious to secure some of-Our holdings 10
supply their trade Growers need have
no fear that we will dump our hops ON
the market, and thereby depress val
ues, and they can rest assured that
every bale of hops of the 1901 crop
will be wanted by the brewers before
the new crop comes in."
Asked as to his opinion OF the prob
able value of the 1902 crop, Mr.. Of
tenheimer said that his firm is paying
70 cents, and at that figure he Is will
ing TO buy the crop Of any grower who
has not the confidence in values toI
wait until the crop is in the bale Mr.
Ottenheimer said that he thought itI
advisable, from business standpoint
for those growers who have not al
ready contracted 10 contract at least
half their crop at this figure, thereby
insuring 10 themselves a good profit
This is the conservative course, and
eliminates, in a measure. the gambling
feature Of hop buying" concluded Mr.
Ottenheimer
New York Crop.
Says the Wateryille Times: THE |
urarr, tu.atIav Of I..t s....lr aul