— 67 — 



porocchio, San Casciano, Val di Pesa, Castelfiorentino, Casellina e Torri, 

 Cantagallo, §c. 



As a matter of special interest we may point out that recently orris 

 root grown in Santa Catarina, Brazil, has been offered for sale. It is 

 claimed for it that it possesses all the excellent characteristics of Florentine 

 root. We hope, in our next Report, to be able to express an opinion 

 whether or not this Brazilian orris represents an article which may be 

 expected to compete seriously with the Florentine root. 



Patchouli Oil. There has been no change in this article, in this sense 

 that the advance in the price of the raw material during the last few months 

 has failed to make any perceptible impression upon the value of patchouli 

 oil; in other words, the selling prices of the oil continue to be below the 

 true cost of production if calculated on the basis of the present quotations 

 for leaves. Determined price-cutting on the part of some of the less im- 

 portant producers has made business very unsatisfactory, but on several 

 occasions we have derived some satisfaction from being able to prove by 

 chemical examination the inferiority of such "cheap" qualities. 



Pennyroyal Oil. During the period under review there has been no 

 alteration in the condition of complete neglect which has prevailed in this 

 article for more than a year. The supply is still considerably in excess 

 of the demand, and we do not think that there is any prospect of im- 

 provement within the near future. No fresh information is so far available 

 concerning American pennyroyal oil. 



Peppermint Oil, American. As early as the month of May our 

 New York branch had acquired the certainty that at any rate no fall in prices 

 was to be expected during the coming peppermint oil season. At that 

 time the fields were still very backward, for the abnormal drought was in- 

 juriously affecting the development of the plants and in parts had actually 

 destroyed the plantations, which had to be ploughed up. This unfavourable 

 prospect naturally offered special inducements to the speculative elements, 

 which, after first depressing the market to the utmost of their powers, 

 soon afterwards obtained control of the greater part of the new crop, 

 about 3 / 4tns °f tne entire output of 1911 being in their hands by the end 

 of July. This alone was sufficient to cause an advance in the prices, and 

 when it became furthermore evident that both as regards production and 

 available stock the conditions this year were decidedly less favourable 

 than in 1910, an upward movement in American peppermint oil set in, 

 which we, with others, have been compelled to recognize in our selling 

 prices, having previously, by suitable hints, given our customers an op- 

 portunity of cheaply covering their requirements. 



According to the data collected by the expert who has been appointed 

 by our New York house to represent our interests in the producing countries, 

 the plantations and stocks of oil in the U. S. are as follows: — 



5* 



