The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1917-03-08
|SPU.DS HIT TOBBOCAN
Slump Set in Last Week, and Drops
Have Continued Daily-Will
Market Strengthen?
Shippers Lose Thousands of Dollars as
Result of the Sharp Decline
Other Spud Notes.

TIC 3u0Clluc ScC Ill ldSC 1AuISudy, dllu
$2.45 was the market. Friday saw
another 40c drop, So to $2.05 was paid.
There was no change Saturday, but the
slump continued Monday, and spuds !!
went down to SITS to $1.90. Ordinar-
lily these prices would be extremely I
high, but they seem very reasonable.
just now.
Receipts were good last week, but
only a dozen loads or so were market
ed Monday. Since that time no loads 7
have been hauled in.
About SO carloads. Of spuds have left !
the Princeton depot since last Thurs
day, and shippers have pocketed some !
heavy losses. Immediately that the
bottom fell out of the market con-
signees in all sections of the country
rejected offerings. The potatoes had
to be resold at the prevailing market,
and in some instances the drop was a
dollar bushel. Local operators have
lost thousands of dollars.
Will the slump continue, or will the
market advance? No one can say for
certainty, of course, but you can
draw your own conclusions from the
paragraphs appearing hereunder.
The Chicago Packer received wires
last week from many points asking
about the potato market and outlook.
The situation was most unusual one
and was pretty we'll summed up by E.
Percy Miller of Albert Miller & Co.,
who stated last Friday:
t'The potato market has suffered
from an acute newspaperitus' as it
were. This has been proven by past
experiences, especially as relating to
the egg market, to be a disease not at
all fatal, but very quick. in it's action
land generally about as quick as it's re-:
coyesy. It does not attack the con-
Isumer to- any extent, he keeps onsdoing
business, but has disastrous effect
upon the nervous system of the retail
grocer, jobber and shipper. A most
effective remedy is to simply sit still,
take your medicine and look as pleas
ant as your general makeup will per-
nit.
"Some have said that it is easier to
learn to love the dandelion than it is
to get rid Of it. 1t is perhaps easier
for shipper to learn to accept rejec-
lions and cancellations in philosophy
cal frame of mind than it is to get rid
of them entirely and it sure does give
one a good line on the character of the
people with whom he is doing business
Now so far as the general situation is
concerned we do not believe there is
anyone in the trade, who is at all
posted, but firmly believes that there
are probably not enough potatoes te
last until the new crop comes in, even
with a materially decreased consump'
ton.
eve do not believe that the Pacific
Coast, that is California, Washington
and Oregon, will ship another 100 cars
of potatoes east. In fact doubt if they
ship anything more east, except few
cars that may be loaded or loading
now.
Gin Wiconsin, Michigan and Mime
sofa our leaders are making reports
similar to those which we general!
get the last Of April or early May
: namely, they can about count tn
amount Of potatoes left in the farm
ers' hands. Michigan is perhap
shorter than the other two states. AID
vices from our leaders in that state
giving the amount of potatoes on ham
at various stations as compared witt
year ago this time, show the amour
to be only one-fifth to one-sixth
s many as year ago. Practically al
k shippers have for the present discon
e tinued loading table stock. Of course
h many of them have few cars rolling
and they are looking for a place TO
t them, and potatoes can probably b
n bought today as cheap as they will b
: bought at any time the balance of tn
h season, probably cheaper.
h 11To sum up the entire situation tn
present depression is entirely mat
7, ter of sentiment not based on condl
e tions and we believe that the recover
S will be much more rapid than is gene1
r ally anticipated, and with it will poss
}, bly, come more confidence than hereto
q fore, whether prices will go as high 9
f higher, we will not attempt to say, bu
g we will say that it is impossible thu
! the government and that shippers an
'e the trade generally can be wrong
x their estimate as to the amount {
stock had. Also we are going to hay