- 56 - 
be added the result of the coming harvest, which it is as yet impossible to 
estimate. It may roughly be taken at from 800 to 1000 tons, according as the 
market-quotations at the harvest-time may induce the producers in a greater 
or smaller degree to gather the two-years' roots. At the end of November, 
the prices cif. Hamburg were 40 marks for pickings and 44 marks for assorted 
roots, and in a few cases higher prices were paid, but with the increasing 
result of the harvest the speculating mood and gradually also the demand from 
abroad became more feeble, which reacted adversely on the quotations. As 
a consequence, the roots can now again be bought: 
pickings at 34 to 35 marks cif. Hamburg, and 
assorted roots at 36 to 38 marks cif. Hamburg, 
not large quantities, but at any rate parcels which impecunious owners now 
and again put on the market. A further depression in the prices is aimed at 
from French quarters, although in that case it is hinted pretty clearly, that 
large parcels would readily be bought at a few marks lower rates for delivery 
not only in 1903, but also in 1904 and 1905. But naturally nobody here 
wishes to expose himself for the future at such prices, whilst the already 
much - suffering producers are least of all desirous of encroaching upon the 
market at still lower selling prices, though these may possibly have to be 
conceded later on, whether the growers like it or not,, if the' foreign buyers 
remain passive for some time longer. The over-production during the last few 
years has unfortunately been disastrous to the producers and to all other 
interested parties, but it is clear that with a gradually diminishing production, 
normal conditions, and with the latter also normal prices, may once more come 
back, if not in the immediate future, at least before long. 
We have contracted for several hundred tons of the finest natural 
Florentine roots at the very lowest quotations of the day, and on the 
strength of these transactions have also sold very important quantities 
of orris oil. Never before has the perfumery - trade been able to 
procure this indispensable product at such incredibly low prices, and 
to use it on such a liberal scale, that violet-preparations can now be 
produced of unparallelled quality. 
In the event of making purchases or placing contracts, the liquid 
orris oil in tenfold concentration, which we were the first to 
produce and to place on the market, should be seriously taken into 
consideration, as, in consequence of decidedly lower manufacturing 
expenses, it comes cheaper than the concrete oil. Since we intro- 
duced it into commerce, it has been used exclusively by a large 
number of perfumers. It is a matter of special satisfaction to us, that 
we have created in liquid orris oil a product of the very highest 
rank, which is of such sterling quality, that it only requires a single 
trial and calculation in order to recognise at once the advantages which 
it offers. 
As has been the case with every one of the numerous new pre- 
parations produced by us in the last few decades, the great majority 
of our competitors have immediately appropriated also this new creation 
of ours. We desire to state this here once more, in order to avoid 
a confusion in the ideas. 
