A SMART TRANSACTION.
The “Bay of Plenty Times” of Feb. 24th, says :—“We hear that a Dunedin merchant, a Mr Wilson, has astonished the citizens of Nelson (known now as the Sleepy Hollow) by purchasing the whole of the hop crop of this season. This gentleman wired last week to his agent at Nelson, requesting to know the price of hops now being harvested. The reply was Is 6d per lb; the answer to this was “purchase all you can,” which was done, amounting to £IO,OOO. The next day the Nelson hop-growers awoke to the fast that hops had risen in price in London to 6s per lb, and that Mr Wilson had realised upon his bargains 200 per cent., or a clear gain of £20,000. The Nelson hop-growers, after this lesson, are now agitating for a co-operative association,, by which they will hold weekly markets, and so have their hops sold by auction.
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Bibliographic details
South Canterbury Times, Issue 3107, 17 March 1883, Page 3
Word Count
154A SMART TRANSACTION. South Canterbury Times, Issue 3107, 17 March 1883, Page 3
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