The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-08-20
MORE TOBACCO TALK
Difficulties Which Confront the
Present Crop.

Present Crop.
Some of the Causes Why Prices Are
Low-Conditions this Year Quite Dif-
ferent from What They Were When
the 1902 Crop Was narketed-flanu-
facturers, Spe culators and Indepen-
dent Buyers With Full Stocks of
Last Years Purchases Still OH Their
Hands and the 7oney Tarket Tight.
Raleigh Post
In an interview IL few days ago.
Col. }. Bryan Grimes, discussing the
present tobacco situatiOn-COlOnel
Grimes is himself IL tobacco grower
and keeps in close touch with market
cOndltlOns-made IL statement which
is no doubt true and which throws
much light on the difficulties con
fronting the present crop.
In the first place it must be remenl-
bered that the trust has on hand of
last years crop IL full iwO-year sup
ply. In OtlIer words the trust could
run all their factories right alon"
without buying Il pound OF the pres
ent crop, could wait until another
crop was raised and put upon the
market This of itself illustrates
what statistics that have been OBJ
tained and published show. that All
enormous surplus above the require
ment OF the trade was produced last
year. In addition to the supply now
owned by the trust bought ,Of last
years crop, Colonel Grimes intro
duced an additional element as fol
lows:
Tile competition between the
American and Imperial Tobacco
Companies l;tst fall caused tobacco
to command good prices and gave
til" Farmers Il highly prosperous year
anI mtlrh encouragement. The com
blnatiOn Oi these concerns destroyed
competition and toward the close OF
the season prices went down very
low causing loss and ruin to the
spectators and independent buyers.
Many OF these buyers still have to-
bacco on hand which, in the face of
the low prices fixed 10y the trusts
means bankruptcy to them and will
free the trusts from their competition
in future"
II a large number of Independent
buyers and spectators still have
large quantities OF last years crop
on hand, this but adds to the surplus
Oh hand to confront the present Or
new crop. We must assume that the
independent manufacturers were as
wise is the trusts and laid in their
supply last spring, certainly after it
had fallen below the price OF the pre-
vious fall: we assume this the more
readily because otherwise the indie
pendents would be Oh the market
after. not only that of the old crop
yet in the hands OF the spectators,
but the new crop if the offerings OF
the latter were suitable as to quality
They certainly would not hesitate to
buy at present prices if they needed
tobacco and that which has been
put on the market was fit for their
Use.
)" when the present crop, known
to be as large as to acreage as was
that OF last year, steps upon the floor
it is confronted by the manufacture
ers-trusts and anti-trut trusts
with full supplies OF last years crop
already on hand, enough at least for
another years work and to carry
them over to the new crop of 1904
1905. and, according to Col. Grimes,
spectators and independent buyers
glutted with unsold stocks still on
their hands.
Col. Grimes, with the Post and
Others, warned the farmers last
spring, long before preparations for
the present crop, of the true cOndi-
ton OF affairs and urged them to
materially curtail acreage or expect
| very much lower prices than even
obtained after the slump last winter.
The Post persisted in this advice.
| sustained by such clear-headed men
as Colonel Cunningham and Others
| closely allied with tobacco growing
and business But, while some plant
ers curtailed in some sections. this
was more than offset by increased
acreage in other and new sections.
thus making the aggregate certainly
as large if not larger than that OF
last year. And just us cotton is now
selling at 13 and t cents because Oi
its scarcity, just so tobacco is selling
| low because, first of the inferior
grades offered, nearly altogether
| primings or bottom leaves-and the
known quantity of production in the
face OF two-years' supply already
on hand
TO quote from Colonel Grimes fur
ther:
is there any hope? | think so.
The hope of the farmers and tobacco
men i'll North Carolina is an i'm
mediate organized fight for better
prices, CURTAlLMENT OF ACRE
AGE and the establishment of indie
pendent plants
True and sensible from start to
finish, emphatically so with reference
to the curtailment of acreage and the
establishment OF new manufacturing
plants. The curtailment and more
careful cultivation will result in bet
ter tobacco in such quantity as must
compel lair prices, and should the
plants not prove as manageable as
desired they could be sold out to the
trusts at a profit
Capt. f. NJ. Pace, one OF the most
experienced warehousemen in the
South, in q letter to the Wilson
Times of Monday, says. and we think
within reason, that prices will be
better inside of sixty days, and
adds:
so soon as the furry is over and
the money market resumes its wont.
ed place, tobacco is going to sell vel
and this will come about inside Of
sixty days. take it upon myself tC
say that you will get remunerative
prices for YOUR crop.