84  Varieties.  x'^-iZ-rl^^:'" 
36  baskets  old  Karahissar  opium,  @  252P. 
10      "       current  quality      "  @  252P. 
1  "                "               "  ®  253P. 
24      "                "                "  @  254P. 
2  "  Yerli  opium,  @  258  to  260P. 
5  "  selected  Karrahissar  opium,  (a)j  268P. 
4  "  Tschal  opium,  @  286P. 
2  "  Bogaditsch  opium,               @  348p." 
Now,  taking  the  extreme  figures,  or  say  2oop  for  Chicantee,  and  340P  for  Boga- 
ditsch opium,  we  have  a  difference  in  prices,  based  on  difference  in  quality,  of 
I40P  per  chequee,  equal  to  fully  ^4  per  pound  gold. 
'■'■London^  November  7.  Chicantee,  25/.  to  ids.  Old,  31/.  Prime  new  trade,  33/. 
Finest  soft,  40J'." 
Showing  a  difference  of  15/.,  or  about  $3.75  gold  per  pound  between  inferior  and 
finest  grade  of  opium  In  the  London  market. 
Turning  to  the  figures  quoted  on  a  broker's  list  published  in  New  York — and  such 
lists  are  considered  to  fairly  indicate  the  prices  current — we  find — 
"  Nenjo  York,  November  7.  Opium,  |8.6o  gold,  in  cases.  Jobbing,  $9.45  to 
$9'A7h  currency." 
And  this  is  all  it  says. 
Taking  Smyrna  quotation  of  same  date,  and  selecting  from  the  list,  say  Yerli  opi- 
um, @  258  to  260P,  which  would  cost  fully  ^^8.50  per  pound  gold,  duty  paid  5  or  Lon- 
don prices  and  base,  say  on  32/.  for  good  trade  quality,  equal  to  about  $9  gold,  duty 
paid,  it  seems  somewhat  strange,  especially  in  view  of  short  crop,  prospective  high 
prices,  etc.,  that  a  good  opium  could  be  afforded  in  this  country,  through  brokers,  and 
hence  subject  to  a  brokerage,  at  #8.60  gold,  and  we  cannot  see  any  inducement  to 
zVz/)or/ opium,  of  prime  quality,  such  as  "Yerli,"  "  Karahissar,"  or  even  "current 
quality,"  if  no  better  price  than  this  can  be  obtained. 
But  this  view  is  no  more  discouraging  than  when  we  come  to  consider  the  margin 
left  to  the  party  who  buys  "in  cases"  and  jobs  "as  wanted."    Thus — 
'■^Ne-tv  7'ork,  November  7.  Opium,  ^8.60  gold,  in  cases.  Jobbing,  (od  ^9.45  to 
^9.47 ^-  currency." 
Now,  the  large  dealer,  who  bought  opium  about  November  7,  paid,  we  will  pre- 
sume, say  ^8.60  gold  per  pound,  in  cases,  and  we  may  assume  paid  promptly.  The 
gold  rate  was  i.io,  hence  it  cost  him  1^9  46  per  pound  currency.  He  would,  in  all 
probability,  be  confronted  with  the  quotation  for  "jobbing  parcels,  say  ^9.45  to 
$9-47i  currency,"  should  he  have  an  order  for  ten  pounds,  and.  be  expected  to  meet 
these  figures,  and  thus  probably  have  to  sell  not  only  at  or  below  cost,  but  wait  for  his 
money  the  same  length  of  time  as  for  other  merchandise. 
We  think  this  peculiar  position  is  one  that  must  force  the  conclusion  upon  any 
mind  that  transactions  in  opium,  so  far  as  this  country  is  concerned,  are  not  very 
profitable  to  dealers  who  are  expected  to  buy  and  sell  at  the  same  price,  nor  to  im- 
porters of  fine  grades,  as  the  superior  value  of  such  seems  to  be  entirely  ignored. — 
Circular  No.  24,  Philadelphia  Drug  Exchange. 
Camphorated  Phenol. — Bufalinl,  in  "  Campagna  Med."  ("  London  Medical 
