Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1852-02-12
Tobacco Trade.

We copy the following from Liverpool
circular, addressed to gentleman Of the vi
cinity. It is from reliable firm, and both
buyers and sellers can from this draw their
own conclusions
LvEnrooL, Jan. 2, 1862.
Dear Sir:
The obstacles 10 detailed monthly state. |
ments of business done in ToBAcco still con-
tinue; the sales Of last month are conjectured
to be 450 hhds., of which about $50 hhds.
were for Export, 40 Missouri Strips for
Ireland. Prices are very generally at a de-
cline of adto Id from previous nominal rates.
The singularly disastrous course of the
Tobacco Trade throughout the whole of the
past year, to the present time, is to be at
tributed to exaggerated accounts Of injury
done to the growing crops of 1850, with
delusive statements as TO their probable
amount; which ultimately proved to be short
of their actual yield by 10000 hhds. in the
West, and 5000 hhds. in Virginia; hence
arose the speculation that gave brief ex-
istence to those high prices which diverted
consumption into new channels, and induced
the inland trade of all Europe to stand aloof
from purchasing and keeping up their usual
stocks. The development of this revolution
in the most important elements of the trade
was followed by the eager efforts of all hold
ers Of Tobacco to effect sales, which, togeth-
er with the immense impending crops Of
1851, have been productive ofthe paralized
state of business which still continues. A
correct distribution of the Tobacco business
for the ensuing season would apportion a
very moderate share TO this port, which is
already fully provided for its home Trade,
and, exceptto Africa, can expect but little
export vent, particularly for Western Leaf,
the use of which, for home consumption, is
almost entirely transferred to Marylands.-
In our Circular of last month, we very much
moderated the danger of putting up Strips,
with view to this Country, where the
stock is already equal to nearly two years.
consumption. Liverpool holders of Strips
have generally hithertoo been denied an op-
portunity of doing wholesale business on
any terms; but in London large parcels Of
good Western Strips are said TO have lately
changed hands at prices equivalent to Sd. to
54d. here. Under circumstances much less
favourable than those now in being, the best
Western Strips, have heretofore descended
to 4d and AID; and it is more than probable
that an ascertained preparation for putting
up any considerable quantity of Strips this
season, will not fail to depress prices to this
or still lower point.
1t must be obvious to all experienced ira
ders acquainted with the overcharged state
of the Markets of this Country, with all de-
scriptions Of Tobacco suited to its consump-
ton, that nothing less than an almost total
abstinence from stemming can prevent a de-
preston of prices ruinous to the shippers of
new strips, however low the cost may be on
the other side. Since the reduction of, hith-
erto, nominal prices, the Irish demand, now
very limited, for Virginia Leaf has been
more for the best quality, the inferior descrip-
tons sinking into, the as yet, unsaleable
class of Exports. The sad results attending
the recent shipments to this port from Vir-
glnia of Leaf Tobacco, so strangely abstrac-
ted from healthy Home Market to be sacri-
feed in this, will, it is to be hoped, prevent
the further prosecution of such injurious
business. The large export of Tobacco last
year should not be taken as an index of the
export trade of this port Excepting the
portion taken for Africa, the rest of the ex-
ported consists chiefly of the damaged cargo
of Virginia Leaf and Strips, and of parcels
of very old low Marylands and Western
Leaf, taken by London and Continental deal
ers who attended the auction of the above
mentioned cargoto which these parcels were
appended.
In writing thus strongly against the pres
enr prospects of the Tobacco Trade, and en-
deavouring by so doing to deter our Cor
respondents from committing themselves to
losses, we discharge what we consider to be
duty paramount to that of consulting our
own interest by giving utterance to observa-
tons less frank and less revolving to the
; wishes Of interested parties.
Yours respectfully,
EYRE EVANS SEQ.