The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-10-18
THr foBAcco Caor.--lTobaeso has been 1T.

The ToBAcco CRoP.---Tobdeco has been at
tracing considerable attention recently, and
prices of both leaf and manufactured have ma
terially advanced, not only on the seaboard but
throughout the West. The inspections in Mary
land and Virginia during the year ending the 30th
ult., show material falling off as compared with
last year, and the recent heavy frosts have much
injury the growing crop. From the circular of
Messrs Mcclure and Crozier, tobacco factors,
at GAINESVILLE, Tenn, we make the subjoined
extracts:
We are of opinion, from information received
from all parts Of the country, that the present
crop of Western tobacco will not exceed 10000
to $4,000 hhds. The highest estimate Of the
Virginia crop is 10000 hhds., while many well
informed parties estimate it at $4,000 hhds.,
against an unusual crop of $4,000 hhds. The
Western crop of last season proved rather larger
than the general estimate, having reached so, 3O4
hllds., including about 1900 hhds., stems, which
would leave the actual receipts of tobacco about
$4,000 hhds. 4r@. ,...... ~. ...
The consumption of American tobacco has
been constantly increasing, while the production
during the last five years has been on a stand ;
this has caused u great reduction Of stocks in
Europa, and the governments and manufacturers
who had been holding back for two years past
for large crops and low prices, WILL in conse-
quence of their diminished stocks, be compelled
| to buy largely of the present crop. The home
consumption has also increased greatly, and the
stocks in the hands of manufacturers have rarely
| been so small.
The average receipts at New Orleans, during
the four years ending the lst Of September, 1886
We're 1888 hhds against an average Of 56,027
hhds., during the four years ending the lst OF
September, 1850. Showing an aggregate falling
/ :,,r tbn NJ
hhds and this too in the face of a constantly
increasing consumption throughout the world
| The Spanish contract, made two years since
for 5000 hhds annually for three years, has on.
ly been partially filled, having been deferred in
the hope of low prices this being the last year
they will be compelled to buy about double the
annual quantity from this crop. The French
| Government is in the same condition, and will
have to fill two contracts from this crop.
Two other governments that have been hold.
ing off, hoping the present crop would be very
large and prices low, must now come into the
market. This, together with the competition
:. of the manufacturers Of the United St ties
whose stocks are also small, must create q
brisk demand for the present crop, and causes
prices, which are already advancing, to reach d
point considerably above the highest point Of
last season. Planters now have itin their power
to dictate to greater extent their own prices
Hold firmly, there will be good demand, and
buyers must come into terms, Notwithstanding
they may hold back at first.
The shipments of Western tobacco to France
during the past year amounted to only 2O5t
hhds, against lO640 hhds. the year before
which has caused their usual stock to be greatly
reduced, and it is a well ascertained fact tha
almost every governlr ent in the south of Eu
rope has very moderate supplies of tobacco, ant
must enter into competition for the present crop
even at higher prices. 49,.
Taking all these facts into consideration, to
gether with the great abundance and cheapnes'
of money, which never fails to beget specula
ton, and we arrive irresistahly Mt the conclusion
that prices will rule higher than they have dom
since l839-40.