Coin Machine Review (& Pacific ...)

says honey demand is still slow and prices
were lower in some areas; honey crop out-
look this year is for smaller production_
Honey producing states in order are Iowa,
Minnesota, California, New York and T ex-
as_
Milk- Presen t prices are at a record
level and current reports suggest they may
remain high for the year- Ice cream trade
is most worried about big decline in milk
producti on. Much of the experimental work
in candy is with dry milk solids, especially
on what dry milk powders have to do with
keeping qualities of candy. Output of dry
milk products ha s been showing good in-
creases.
Mint Oils - Prices on peppermint oil
were holdin g up even though reports on
new crop indicated a good supply. In June,
crop reports began to conflict and at the
time of this review, a definite suggestion
on probable price trends was not available.
Nuts-Outlook for new peanut crop gen-
erally favorabl e, some states even better
than last year; demand and sales light in
most areas, and prices steady. Nut market
in New York is season alit dull. Early re-
port on Calif. alm on d crop is that it will
be below last year, probably a 60 per cent
crop.
Raisins - Demand is increasing and
prices are advanc ing ; supply is said to be
below trade need; new pack moves in
October-
Soybeans - Price trend slightly down-
ward on basis of new crop. Some of the
experimen ts in the candy trade use soybean
products with dry milk and the outlook
is promising. Makers of soybean products
were active at the recent national candy
trade convention.
Sugar-Strike of sugar workers in Cuba
was recently postponed when the govern-
ment froze wages; this column has men-
tioned this explosive situation before. Sugar
prices are now advancing and some market
experts fear consumers may start buying
against higher prices this fall. Both raw
and refined sugar are holdin g at firmer
price levels. Price on 1949 futures are
slightly below 1948 futures which indicates
confidence in the next crop. One major
sugar firm says it is unlikely that sugar
will again sell at old-time levels.
Tobacco- Export of tobacco for the Eu-
ropean aid program and extension of gov-
ernment price supports indicates that leaf
tobacco prices will remain high. Crop re-
ports thus far are favorable. Rumors that
manufacturers may consider another price
increase on cigarettes, due to high tobacco
costs, are bein g revived.
Vanilla-Mexico has the largest vanilla
supply in history and candy and ice cream
trades are being told they need fear no
shortage this year. Dry weather has hurt
the outlook on the new crop for next year,
however.
Mfrs. Mum On Cig
Price Increase
NEW YORK-A blunt question on
whether cigarette prices might soon be in-
creased brought no information from J. W.
Andrews, president of Liggett & Myers
Tobacco Co., at a recent meeting of stock-
holders.
Andrews reported on estimated sales of
Chesterfields and other products for the
first half of 1948, being probably the first
cigarette maker to issue a report on the
first half of the year. Earnings of the com-
pany were at least as good as for the
period last year, Andrews said, and he
promised more data which will probably
be out by the time this issue is in the
hands of readers.
The stockholders of the firm making
AUGUST, 7948
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KEENEY
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Chesterfields had been told that leaf tobac-
co costs for the next crop would be hi gher
than on last year's crop, and that brought
the question on possibility of another in-
crease in cigarette prices at th e whole-
sale level.
Rumblings of possible price increase on
cigarettes at the wholesale level have been
current for some time, and readers of
AUTOMATIC VENDING have been informed
a t intervals of these rumblings. Such a
move would be the second increase by
manufacturers since the end of the war
(previous increase was in Oct. 1946) .
Prospect of a cigarette price increase
may have also been given some weight
when Bayuk recently announced price in-
creases on some types of Phillies cigars.
Other cigar makers are expected to follow
the example, a nd the move is certain to
CHICAGO 32, ILLINOIS
increase the price pressure in the cigar-
ette fi eld.
The recent action of Congress in extend-
ing government price support on leaf to-
bacco also has weight in the general prob-
lem of increasing cigarette prices. All of
the major cigarette compani es have empha-
sized the hi gh cost of leaf tobacco in their
reports to stockholders for the last two
years, and many have regarded this in-
formation as prepar in g th e way for prob-
able price increases.
A general price increase on cigare ttes
would begin to raise serious problems
for operators of cigarette vendors in
some states and cities, due to high
taxes on the product. A recent example
has occurred in Louisiana, when a
three-cent increase in the state tax on
cigarettes has made it n ecessar y to raise
51