Florida South Carolina And Canadian Phosphates Giving a Complete Account of T
Florida South Carolina And Canadian Phosphates Giving a Complete Account of T
C C Hoyer Millar
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Directly a company was organised its sponsors wanted to sell thousands and thousands of tons before a single labourer had been engaged, imagining vainly that merchants and manufacturers were even more anxious to buy than they were themselves to sell. Other companies had no working capital, and were endeavouring to make large sales in order to borrow money on the security of the contract and of the buyers' names. Each company had so many officers with their special friends and agents, and a doze...n different people were offering the same phosphate for sale. Besides this there w r ere plenty of speculative operators making large offers, hoping to secure the material at a lower figure after making sure of a buyer. It so happened that at the particular time when these offers were coming forward {i. E. , the summer months of 1890) the European market was prepared to receive large additional quantities of phosphate without prices being materially lowered. In order to understand the feeling of the market at that time it is necessary to look back a few years in the history of the prices and consumption of phosphate in Europe.
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