Daily capital journal. (Salem, Oregon) 1903-1919, 1905-02-09
BULL
HOP
NEWS

W. L. Tooze gives the following to
a Portland paper:
Woodburn, Feb. 3.-The statement
in your issue Of today, that from sp-
pearanees a change would likely soon
occur in the hop market, and that both
bulls and bears are on their mettle
with both claiming q victory, while
both bulls and bears agree that when
the market touches bottom a sharp ad-
vance will occur, represents precisely
the present conditions existing ia the
hop market on the Pacific coast. which |
today is eentered in Oregon--as Cali |
fornia and Washington being praeti- |
cally sold ont are only small factors
in the present struggle for such level
Of prices as are fully warranted BY the
tremendous shortage Of hops in the
United States and England. The hold.
ers Of hops are fully informed Of the
fact that thousands Of bales Of hops
have been sold short for February,
March, April and the summer months
by the bears in the market. In Jan
uary Mr.. Klaber Luce and other large
operators dumped 5000 to 1000 bales on
the market, which filed the short sales
for January, but now that the Chimes
grower has closed out for his new
years squaring of accounts, to whom
will the bears turn for their purchases
for February and the coming monthsi .
Nearly every bale Of hops held in Ore
gon is in the hands Of individuals who
are determined to see the end Of the
game.
Buyers in a strenuous effort 10 de-
press prices state that $1,000 bales vet
'emain on the coast; though il is well
Known that less than 10000 bales re-
main unsold in all hands in Oregon '
With possibly 1000 bales in California "
md Washington. These figures are an
xtreme estimate. Probably 1880 U
'ales on the Pacific coast would be a
nore accurate statement Some weeks 81.
inee our friends the bears represented =,
hat New Zealand, having gone into a,
he hop industry, would now supply A.
australia, and probably be exporting q,
ome to the United States in March. ..
g05. ~
To offset this ridiculous statement. a.
be Waterville, n. Y, Times saws: 4,
II is estimated by our dealers that Z,
poo bales Of hops have been shipped h,
his season from the Pacific coast 70 -,
ustralia, Japan, the Philippine islands y,
id the Hawaiian islands. thus opening -
for the first time a new market for
q hop growers Of the coast. Dealers al
Oregon are practically sold out. All =,
io are sold out are bears. Not a dog. -.
dealers in the state are holding ~,
ps, but those who do are holding +,
mly with the realization Of the con
ions and knowledge that eight
'nths are yet to pass before a single
lie can be grown and placed upon the ! be
.rkct " N,
Dealers who are sold ont are crying ma
prices because they desire TO get 60
* In the market and take the sharp
vance to which you refer in today's
ne. With a shortage in the United :
ties today OF $4,000 to 10000 bales
hops and our exports TO Europe last
ek OF nearly 1000 bales, is it any
ndcr that the growers Of the state 4
Oregon and Of the entire coast are =
'ng holders Of this commodity At
= time no doubt whatever exists that
local exports have to date aggre -
ed $4,000 bales and that our avail
. supply for home consumption does
exceed 10000 bales. As We use
900 bales az a lower estimate, il is a,
wonder that bulls aud bears agree 9.
there viii at "some time be
~ advance How sooa depends !"
D every holder Of hops. W
hsolute refusal 20 sell bale FOR ca
% DO days would efiectually silence
bears and their talk of substitptss