The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1907-11-22
TOBACCO BUYERS
ENGAGED In GAME
OF MUTUAL BLUFF
No One Can Answer a Lot of
Questions That May Suggest
Themselves to Mind, and All
are Waiting to Read Answer
in Conditions.
SITUATION ALL OVER STATE

Current gossip in tobacco circles
In Paducah is confined largely to ru-
mors and speculation. At no time in
years have so many factors entered
into the tobacco market to make a
definite opinion out of the question,
as have entered this year, and the To-
cal brokers and buyers are playing
waiting game which is more or less
involuntary.
When the money stringency came
practically all independent tobacco
buying stopped and now that fits on.
few buyers world. If they had the
available cash, undertake a large
purchase. They are waiting to see
what effect the stringency has on the
market, whether there will be a de-
cline from the abnormal prices now
quoted on tobacco, or whether the
bullish tendency will be maintained.
The situation reminds one of the in
ternational naval blum being played.
In which each nation is making great
showings on paper, but none knows
how efficient its neighbor mould be
in a showdown.
For instance. here are some of the
uncertain factors:
How much tobacco has the trust
on hand? How much tobacco have
the foreign governments bought?
How much tobacco have the local in
dependent buyers bought? Will the
hurley growers not grow any tobacco
in 1908, or is their move to that end
bluff to bull the market? How
long can the farmers hold off with
out throwing their tobacco into the
market to bring what it will? How
much tobacco Is still unbought? And
so on, questions that nc one can an
swer, come up to cloud the situation,
and no tobacco man has been found,
who would like to have a definite
lopinion quoted for him.
II has been a game of bluff all
around for the last two years. The
NipWSAS aoSvNAdNiOh hdNS maui us
claims; the trust has set rumors in
circulation about the enormous guam
titles Of the weed they had on hand;
the middle Kentucky growers are
pledged largely not to grow any crop
in 1908, yet they have until next
March to change their minds, and the
Independent buyers and manufactur-
ers have professed to haev the sit
uation well in hand.
May SEM ,asn mere.
Now rumor is current that the
italian government will send some
money to Paducah to pay for their
purchase, as It is reported they did
in the central part of the state.
What effect such a move would have
on the association pledges is not
known, because it Is not known how
hard up the association farmers may
be for cash II is known that the as
ISOLATION expected to advance some
cash to their farmers on their crops,
but the stringency would seem to
knock that plan into a cooked hat.
II is known that many of the new
members the association secured this
year were secured on promises to so
advance money as well as other prom
lses, and II these could not be filed
would any disloyalty result? These
are not actualities but no tobacco
man would estimate the situation
and its possibilities without consid-
ering such a contingency. If the
market through the stringency
should take a sudden slump. where
would the Independent buyers, who
bought at higher prices, stand?
Would all contracts be lived up to?
There is enough unbought and
unpledged tobacco in the country TO
effect the market price, should It be
thrown into the market for any
price It would bring? The associas
ton says IL. has so per cent pledged,
the independent buyers and foreign
governments have bought consider
able, and the amount left unengaged
might not be enough to make a
lslump, II II was sacrificed. But who
knows? How much is held by each
of these factors
Have Time to Change Mind.
Every tobacco grower in the state
might decide not to grow any tobac.
co next year, and the situation would
not be any clearer. These farmers
know well enough that severa
months will intervene before they
will have TO make a definite decision
to grow or not TO grow tobacco
That decision will be made when this
time comes for planting. Meanwhile
lii they can make the buyers think
there will be no crop in 1908, per
; lhaps they will begin to cover by buy
: ling all the available stock. Tha
! means that they might take the un
sold 1906 and 1906 crops of the