1
531
Mesars. Jassoon
+
January sale this year 850 chests were offered.
purchased the first 200 chests put up to auction, as soon as the representative of that firm said that he did not want any more every one cleared out and no bid was got for the other 50 chests,
no one daring to buy them, as they have no means of disposing of
the opium. The prices ruling in Caluetta during the past seven months have been the resultant simply of Messrs. Sassoon's
demand, tempered on the one side by the upset price and on the other by the extent to which, in the pursuit of figure gambling,
Me sare. the local Marwaris have deamed it safe to raise/sa 89000.
I would have brought this matter to notice sooner, but the real state of affairs did not become apparent till November and there was reason both in December and in January to expect that the other merchants would try to break Mesars. Sassoon's monopoly.
These expectations have not been fulfilled and a marked decrease in
the interest taken by the opium-exporting merchants generally hea
been a feature of the recent sales. I do not see that anything can be done at present, but I thought it necessary to acquaint you with
the position at this stage. If Mesars. Sasacon succeed in driving
all the other merchants out of the market, then possibly we shall
not get even our upset prices, as that firm might hold off until
We lower our upset prios.
Yours sincerely,
A. Marr.
A.C.Mo Watters, Faq., O.1.5. 1.0.3.