102 
THE  TROPICAL  AGRICULTURIST 
[Aug.  I,  1896. 
W ith  the  adveut  of  keener  competition  and  larger 
yields,  the  time  is  close  at  hand  when  only  ailtodge 
fruit  will  sell  at  all — and  this  cannot  be  produced 
in  scale  infected  orchards. — ‘liural  Calitoi'niau. 

THE  CITRONELLA  UIL  .SPEGUJ.ATION. 
It  seldom  happeus  that  an  entire  trade  is  deceived 
on  the  position  of  an  article.  As  a rule,  a speculation 
cannot  be  under  way  very  long  before  some  one  in  the 
trade  discovers  the  nature  of  the  movement,  and  is 
guided  accordingly  in  making  his  purchases.  In  the 
case  of  citronella  oil,  however,  one  of  the  cleverest 
manipulations  recorded  in  any  article  in  recent  years 
was  started  a little  over  a year  ago  and  carried  to 
a successful  conclusion,  without  the  character  of  the 
movement  having  been  discovered  until  manipulators 
had  accomplished  their  purpose  if  the  realcharacter  of 
the  moment  is  now  understood,  the  entii’e  trade  was 
deceived  as  to  the  real  position  of  the  article.  The 
decline  in  price  which  commenced  a few  weeks  ago  not 
only  excited  comment,  but  on  investigation  brought  to 
light  a story  which  will  be  read  with  interest  at  this  par- 
ticular time.  For  several  years  previous  to  the  Spring  of 
1895  citronella  oil  had  ruled  at  a trifle  over  twenty 
cents  per  pound  in  large  lots,  and  the  consumption 
in  tnis  country  had  more  than  doubled  from  1893 
to  1895.  The  latter  part  of  April,  last  year,  the 
market  commenced  to  advance,  the  price  at  that  time 
being  twenty-two  and  one-half  cents  per  pound  in 
large  lots,  ft  moved  gradually  upward  until  some 
dealers  have  paid  as  high  as  fifty  cents  per  pound  in 
-January  of  this  year  for  January-March  or  January- 
July  shipment  from  Ceylon,  sellers'  option.  At  first 
excessive  rains  and  later  drought  were  given  as 
reasons  for  the  short  crop  which  was  reported,  and 
light  stocks  were  said  to  exist  in  Ceylon,  London, 
New  York  aird  in  other  important  markets.  Un- 
doubtedly the  stock  here  was  light,  unusually  large 
imports  liaving  gone  into  consumption.  Hut  it  now  ap- 
pears that  theadvance  was  really  “worked  ” by  a London 
house  with  a Ceylon  connection.  This  concern  began 
buying  oil  at  twenty -two  and  one-half  cents 
per  pound,  and  continued  buying  as  the  price 
advanced,  reports  being  circulated  at  the  pro- 
per time  to  account  tor  the  sudden  change  in 
the  situation.  They  purchased  the  entire  Ceylon 
stock,  and  so  manipulated  the  market  that  the 
impression  speedily  gained  currency  that  there  had 
been  a short  crop,  hence  that  there  was  a scarcity 
in  the  primary  market.  To  keep  up  the  delusion 
bids  were  made  here  by  the  above  mentioned  con- 
cern at  intervals  for  lots  to  be  exported  to  London, 
where  the  supply  was  said  to  be  insufficient  for  the 
demand.  When  the  price  had  been  advanced  to 
thirty-two  cents  the  speculators  quietly  sold  the 
large  consumers  in  this  country  and  presumably 
in  England,  without  the  knowledge  of  the  dealers, 
some  of  whom,  as  already  stated,  continued  to  buy 
oil  until  it  x-eached  fifty  cents.  In  their  eagerness 
to  obtain  a quantity  sufficient  for  what  they  con- 
eidered  their  requirements,  some  even  bought  back  con- 
tracts at  twenty-nine  cents,  paying  for  them  more  than 
forty  cents.  In  course  of  time,  when  consumers  failed 
to  make  their  usual  purchases,  it  began  to  dawn 
on  the  mind  of  the  trade  that  something  more  than 
the  business  depression  was  responsible  for  the  stag- 
nation which  had  prevailed  for  so  long  a time.  The 
discovery  was  made  by  the  dealers  that  they  had 
been  cleverly  hoodwinked,  but  it  was  too  late  to 
enable  them  to  recoup  themselves.  The  market  had 
already  commenced  to  decline,  owing  to  few  offers 
from  (Jeylon  of  unlimited  quantities  and  at  low  prices. 
Within  two  weeks  prime  oil,  standing  a well-known 
test  has  been  sold  in  London  for  steamer  shipment 
from  Ceylon,  early  delivery,  at  twenty-seven  cents, 
cost,  insurance  and  freight.  Other  sales  are  reported 
in  the  Loudon  market  at  thirty  cents,  steamer  ship- 
ment until  the  end  of  June,  and  at  twenty-nine 
cents  steamer  shipment  until  the  end  of  Aug- 
ust Since  these  sales  were  made  the  market 
has  stiffened  considerably,  the  latest  sales  reported 
bv  cable  Friday  having  been  at  thirty-three  cents, 
cost  iusurauce  and  freight,  for  shipment  from  Ceylon. 
Opinions  differ  as  to  the  situation  today.  By 
some  dealers  it  is  thought  the  position  of  oil 
warranted  an  upward  movement,  although  perhaps 
not  to  the  full  extent  which  the  manipulators  forced, 
while  still  others  are  of  the  opinion  that  an  at- 
tempt is  being  made  to  again  work  the  market.  If 
the  latter  conclusion  be  the  correct  one,  it  is  hardly 
probable  that  the  dealers  will  be  readily  included  in 
a second  scheme  of  this  character. — Oil,  1‘aiut  and  Drwj 
Iteporter,  May  18. 
THE  BOOM  IN  RUBBER. 
The  boom  in  rubber  goe.s  on  merrily.  The 
price  of  best  Para  has  gone  up  within  tlie  past 
few  weeks  from  about  2s  9d  to  3s  9d  per  lb., 
and  it  is  tliou^ht  by  the  trade  tliat  4s  or  so  may 
be  reached.  Owing  to  the  limited  sources  of 
supply,  the  article,  of  course,  easily  lends  itself 
to  the  manipulation  of  speculators  and  cornerers. 
But  neither  speculation  nor  demand  for  tyres  is 
altogether  answerable  for  the  pre.sent  hign  quota- 
tion. It  seems  that,  owing  to  the  recent  dry 
season  in  the  Brazils,  traders  have  not  been  able 
to  get  their  rubber  down  from  the  upper  reaches 
of  the  Amazon,  though  this  st.ate  of  affairs  may 
be  remedied  any  day,  when  it  is  believed  juices 
will  give  away. — Home  and  Colonial  Mail,  June  5. 
AGRICULTURE. 
Coconut  Cultivation. 
It  was  but  recently  I enjoyed  the  advantage  of 
reading  in  the  “ Agricultural  Magazine  ” the  article 
on  the  nitrogen  question  and  of  meeting  and  con- 
versing with  the  gentleman  whose  observations  on 
the  influence  of  the  sensitive  plant  on  coconut  cul- 
tivation are  referred  to.  The  problem  of  utilizing  for 
agricultural  purposes  the  vast  stores  of  free  nitrogen 
in  the  atmosphere  had  exercised  the  minds  of  agri- 
cultural chemists  for  a long  while,  as  also  the  well- 
known  fact  that  soil  in  which  legumes  and  in  particu- 
lar clover  was  grown  was  found  richer  in  nitrogen 
after  than  before  these  crops  were  grown.  The  re- 
searches of  Helliiegel  pointed  to  wart-like  excres- 
cences on  the  roots  of  these  plants  in  which  were 
bacilli  which  worked  this  all-important  change.  The 
benefit  of  this  discovery  to  the  European  agricul- 
turist was  not  great,  for  without  being  able  to  ac- 
count for  it,  observation  and  experience  taught  him 
that  clover  as  a rotation  crop  improved  his  land  and 
gave  him  better  crops.  To  us  who  grow  perennials, 
the  discovery  of  other  plants  as  well,  with  these 
root  tubercles  which  from  analogy  we  iufer  are  capa- 
ble of  converting  the  free  nitrogen  of  the  atmos- 
phere into  combined  nitrogen  for  the  use  of  vegeta- 
tion, is  of  great  practical  value.  But  there  is  one 
thing  which  must  be  decided  beyond  doubt,  that 
the  bacilli  in  the  tubercles  on  the  roots  of  plants 
other  than  legumes  perform  the  same  functions 
as  the  bacilli  found  in  the  roots  of  legumes.  So  far, 
I do  not  think  this  has  been  done.  Cultivated 
products  are  observed  to  thrive  or  grow  better  than 
otherwise,  in  the  neighbourhood  of  certain  plants 
or  trees.  The  roots  of  these  are  examined  and 
tubercles  are  discovered  on  them;  the  conclusion  is 
that  the  bacilli  in  these  tubercles  perform  the  same 
function  as  those  found  on  the  roots  of  legumes. 
It  is  interesting  and  profitable  to  know  that  the 
sensitive  and  other  plants  which  grow  wild  on  our 
lauds  as  weeds  have  these  tubercles  on  their  roots. 
But  has  not  the  question  yet  to  be  decided  that 
these  plants  exert  a beneficial  influence  on  the 
soil  ? That  coconut  trees  thrive  where  the  soil  on 
which  they  grow  is  covered  with  the  sensitive  plant, 
is  to  my  mind  no  conclusive  proof  that  the  im- 
proved appearance  of  the  tree  is  due  to  the  presence 
of  this  weed.  The  opposite  conclusion  is  equally 
sound,  that  the  j)resence  of  this  weed  is  due  to 
good  soil.  This  weed  is  always  found  to  grow  on 
roadsides,  which  receiving  the  wash  of  the  road 
