The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1908-03-20
NOTE BOOK SKETCHES


The secretary of the Cambridge branch
of the Society of Equity sends us the
proceedings of recent meeting with a
request that The Reporter give it publ
cation. The matter is largely clipping
from the daily press to the effect that
the Society of Equity had forced the
American Tobacco Co. to buy eighty
!; million pounds of pooled Kentucky to-
bacco at 15c pound. This would be
good news if it were true, but, unfor
/ tunately, the report has since been de-
MED and the sale did not take place.
Then the following appendix is added:
IF the Burley tobacco of Kentucky is
worth Is cents, then, it is claimed by
men who know, that the Wisconsin is
worth % cents per pound. Our growers
naturally inquire, why are we forced to
take from cents to cents for our to-
bacco?" This reasoning might be good
if the promises were not faulty, and Wis
| consin tobacco may be worth % cents a
pound-we wish it was-but who will
pay that price? Aye, that's the rub. Ii
| the growers were better posted on the
condi ton of the market they would
have far less reason to wonder why.
1t is generally conceded that it has
been long years since the cigar leaf mar
kets we're in a more thoroughly demoral
lied condition than at the present time.
The amount of money that has already
been lost through the decline of prices
and what must eventually be pocketed
by holders of old leaf would be an amaz-
ing sum if it could be figured. The de-
cline came so suddenly that dealers had
no time to get out from under and the
depressing effect goes clear back to the
manufacturing concerns. The swing OF
the pendulum has been carried back
clear beyond all expectations and pack
ers have been actually afraid to make
investments in new leaf until matters
became more settled. Here is to be
found one reason why tobacco that ap-
pears to be offered dirt cheap in the
country is still wanting buyers. 1t is
utterly futile to blame anyone for the
condition unless some individual can
hunt up the cause of the recent panic
tIff.b disturbed all values. The buyers
who might think the opportunity ripe
for an investment at the going prices
finds himself loaded up with high priced
leaf and his capital tied up so that credit
cannot be further extended. But better
times are predicted.
The Hartford Courant, one of the
ablest and best known newspapers In
the New England states, on last Friday
| devoted nearly two entire columns to
review of the tobacco situation in the
| Connecticut valley. It had communica-
tions from half dozen prominent to-
bacco growing centers, all complaining
| of the dullness in the leaf trade and in
most cases the blame was put on the
packers, who refuse to pay the prices de-
manded by the growers. AS rule, most
of the growers sell their crops by
March |, but this season not one-fourth
hes been bought. In none of these COM
munications is reference made to the
| changed financial situation and the we'll
known stagnation in the cigar trade. 1t
| is we'll known, also, that packers paid
| too much for their tobacco last year, and
| have in consequence been unable to sell
+! it, and, therefore, don't care to load up
with more. The growers complain they
can't pay for the fertilizer used in grow
ing the 1907 crop, which is now due,
but they forget the packers, at least
many of them, are in the same boat, hav
ing not yet repaid the money with which
they bought that crop. The rule is
working both ways this year, and one
side has as much right to complain as
the other. Then, again, they complain
| the prices paid when sales are made are
ridiculously low. Some years ago from
! ID to 80 cents was the usual price; now
they get 5, s, 10 and sometimes little
| more. Of course they grumble, but cir
cumstances and conditions have changed
and our New England friends must learn
to change with them.-LaLcaster New
! Era.
~
The big tobacco trust, It would ap-
pear, has not been bit very hard by the
| late panic when it can show net profit
| of over seven million dollars over all
| charges the past year. At the annual
meeting of the stockholders of the Amer
ican Tobacco Co., held in Jersey City
last "Wednesday, the report OF the treas