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Catalog number 1997.2.1589
Object Name Clipping, Newspaper
Date 1921
New Price Five Cents Higher Than Present Level. ? Others Have Not Yet Made Change, but Intimate That It Will Be General.
Following hard on the advance in the other salicylates, one producer advanced methyl salicylate yesterday, naming a price 5c per pound higher than that quoted in other directions. Up to the close of the period, no action had been taken by the other producers, but it was generally conceded that they would fall into line and make a similar advance in price within a day or so. It is probable that the advance twill be general by the outset of next week. The market is still more or less unsettled and while all hands are now quoting at the same levels in salicylic acid and sodium salicylate, action in methyl has again put the market into a peculiar position. The action of the one producer who is apparently putting up trial balloons in an effort to determine just what the market will stand is something more or less novel in this group of products. A further fractional advance in the price of nitrate of silver completed the first hand changes of the period. Higher prices on quinine are being asked in outside quarters and it was difficult yesterday to do better than the 70c per ounce asked by the producers. Supplies of imported goods are very small and closely held, with the result that higher prices prevail in most quarters. Raw material supplies in the hands of domestic producers are said to be small owing to the fact that no replacements have been received recently.
The situation in quicksilver continues very strong; and some factors who have been on the bearish side have now been converted to seeing the firm side of the situation. Latest reports are to the effect that shipments from Italy are extremely tight, that one mine is sold up until the end of January and that other large interests have only a limited quantity of goods to ship during that month. At the same time exchange has advanced sharply and the landed costs of quicksilver for shipment are now something over $45 per flask.
Buying here has been moderately active. Yesterday's market was firm at $17 per flask at the opening and at the close it was doubtful if that figure could longer be done. Lower prices which were gained in some quarters were not borne out when tested by firm orders in fair quantity.
The general market position is fairly good despite the fact that business at the moment is in the throes of a real slump. This slump is due to the approach of the end of the year and the inventory season more than to any underlying conditions. In fact, conditions really point to better values and more trading. Stocks in outside hands are small and supplies in consumers and jobbers hands are no more than sufficient to carry them beyond the first of the year in most instances. In fact the market is all set for real action and opinion in general that such action will not be long delayed after the seasonal slump is past.
Cataloged by Boudreault, Art