The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1903-03-11
YAKIMA HOP GROWERS
ARE HOLDING FAST.
1t is Expected That Either the Bulls
or Bears will Make Some Definite
Move in the Next Week.


are good holders and are not easily fright
ened by the clears" the indications
point to the hoped for advance in the
present flattering price.
The Sound market is still very firm
with the two factions apparently dying
hard and putting forth all available in
ducements to compass their respective
aims.
The Tacoma News says: An air of
quiet prevails in the hop market, but ac-
cording to dealers it is the quiet that
precedes storm. Something will be
doing soon. Either the growers will be-
come frightened and force their hold
ines onto the markets, or the brewers
will give in and there will be an advance
over present prices. 1t is safe to pre-
dict that prices will not remain at pre-
sent quotations for many more weeks
Tacoma dealers are of the opinion that
the future market depends entirely on
the Pacific coast grower. He is the bull
| in the hop market, the brewer is the
bear. Earlier in the season the odds
were decidedly in favor of the brewer,
for no one believed for moment that
many of the dealers would hold out for
many weeks with hops selling at %
cents. Pacific coast dealers did not be-
lieve it, and they sold most of their
holdings when the market reached that
figure, and they owned large part OF
| the crop.
But, the growers have displayed more
backbone than they were given credit
for having. They knew the size of the
worlds crop; they knew about what
the worlds demands would be, and con-
sequently they knew what their crop
was, or had ought to be worth, and they
held for that price. On the other hand
brewers bought the hops that were of
fered at their price and lay back in
their easy chairs, declaring they cared
not if they never got another pound
They had a supply to last them we'll in
to the spring and were evidently salts
fed that the farmers would become
anxious to realize on their crop before
| that time came. A letter from the
New York correspondent of one of the
largest Tacoma dealers says that many
of the brewers are practically out of
hops, and that in his opinion they cam
not stay off the market later than the
first of May
Meanwhile nothing is doing in hops.
Last week a few Of the Portland dealers
weakened and disposed OF 200 bales at
from 25 to 251a cents per pound, but
since that sale no other has been record
ed, and the lowest figure that any holder
of hops in this state will take is 26ls,
while most of them are demanding 80
cents. A. Elliott, one of the largest
growers of North Yakima, was in
| Tacoma few days ago leaving samples
of his crop with the dealers. He is the
holder of 500 bales OF strictly choice hops
which cannot he touched for less than
261a, and he says he is not particular
about selling at that price. Another
dealer who has a fine lot, 2l7 bales,
of choice hops, is NJ. p. Peterson of
Auburn. He was offered q cents for
his crop once and refused to accept, and
is holding for 80 cents. In recent con-
versation, Mr.. Peterson said 81 shall
hold for 80 cents, because | am satisfied
the market will yet reach that price.
recently gave up $500 deposit had
made on piece of land rather than sell
my hops at a lower figure to secure the
purchase money required"
There are several other large holders
in the Puget Sound and North Yakima
country, but the two cases given above
serve to illustrate the attitude of all Of
them. There is practically nothing
doing in contracts for next year. Deal
ers are offering to contrart next years
crop at from Is to Is cents, but there are
no takers. Some contracts were made
earlier in the season, but most of them
were with growers whose financial cir
cumstances were such that they had to
contract in order to care for the fields.
Growers who can afford to finance their
own crop through at least the earlier
part of the season are doing so. OF
course next years prices are consider
able of speculation at this time, but
there is so much talk about the roots
being dead in New York state that deal
ers and farmers alike are chary about
making any deals until something like