Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1858-05-25
For the Enquirer.
RICHMOND TOBACCO EXCHANGE.

AT n meeting of the Dealers III Tobacco, held at
the Tobacco Exchange on Saturday morning, the S2nd
inst, Mr.. John Jones, ESQ.,, was called 10 the Char and
James a. Scott. appointed Secretary. Benjamin u.
GRAY, ESD. on behalf of the Committee appointed TO
draft resolutions expressive of the views OF Tue trade,
presented the following report;
Whereas, the experience of a few years passed has
produced the opinion generally with the Tobacco
Dealers of the City Of j. chmond, that the increased
facilities afforded to the farmers aud planters of Vir.
yinia aud North Carolina, for the transportation OF
their produce to market. has induced them 10 SEM to
this market u larger proportion OF the Tobacco crop
than in former years, and whereas the great demand
created by the large numbero OF Tobacco Manuiactu.
rers of this city, and shippers who receive the prlnci.
pal orders, foreign and domestic, for the purchase OF
Tobacco, and makes II to the interest oil planters
generally to prefer the Richmond marker, and there
fore il lnost likely to induce hither a still larger pro-.
portion of the crop; and whereas the large and in
creasiny trade in this branch OF business has been al.
tended with great Inconvenience, II not TO all, at least
10 the greater number engaged IN II, and IL now iound
Ia bs almost impractic6ble with any degree OF conve.
nlence and satisfaction 10 those ot Us to continue the
old system Of attending the daily sales OF Tobacco at
three or more warehouses located at distant points OF
The city; and wh,rras il is deemed desirable to afford
the anpiest facility to the trade at large, and oellev.
ing that the interest OF buyers and sellers will be
greatly subserved in the economy 81 time rs well NJ
| condacive 10 The convenience and comfort 20 al! a.ike,
il ia therefore recommended that a suitable central and
commodious room be procured for the purpose Of con
cen.ra,ing and conducting the regular daily sales OF
Tobacco, both privately and paDllcly. in lieu OF the
former custom ot sales al the different inspection
warehouses 0i this city.
And, whereas. il has always been found conducive
| IA "a besl Interest Of the trade, that IL should be con
,iucted in accordance with such regulations ~ would
best tend Ia protect the interest of all. secure unity OF
sentiment aud action, and insure eGuaiiiy and harness
alike In al; therefore II Is recommended, that the
| following regulations bs adopted by the trade:
LAT. Resolved, Th.; III. room Oh The corner ~ Cary
and lS.h Streets, aud over the store OF Me-.rs. Ro
bcr;Son AMI Roberts, 10" !1r IN" present The pl"'- 81
resort for The trade. aud that tile IAN" h. eiyl-d The
| Tobacco Exchange OF the CITY Ut chmon an1
that The regular daily offerings al tobacco by private
and public aale BE- restricted 'll.renf.
~. Resolved. That the public anciion sales shall
be conducted by come individual familiar with the
ueagaa a. the trade. having n" conflicting interest Of
his own Incompatible with the province ci n TAR
and mining artisl aucrIoneer nj tobacco.
Sd. Resolved, UniiI farther ordered, that n" pr.
vale Gales o. ,dbacco BE- commenced before 10 o'clock.
\. NJ. Gri sl-p ia lie manner III" pubic sales shnll
begin daily 1T II O'Clock, a. VI.
18th. Resolved, Tint the former rusiorn of chance
taking for the %purchaae Of Tobacco" having been found
to operate uueQuslly, and ~ tbs disadvantage oi
/ many of the trade, u bs hencsforth abolished. and in
future tho ruIe u tie observed Tor the regulation ct
private Gales shull be- in thIa wise, VIA: When the
vender has placed his sGinples upon the ssle stand,
any buyer presenting himself and proposing to pur
chase, shall be entitled TO the privilege Of trading,
and when two or more make simultaneous proposals
TO buy, they shall determine between themselves by
lot. or otherwise the order Of precedence.
9Th. Resolved, That all private bids for tobacco be
regarded rs sacred between the buyer and seller, and
that no offer for tobacco not accepted at the time Of
fered, shall be considered as binding the buyer, un
less so agreed upon Il, such time, and in all cases the
! terms of private sales are not to be divulged without
the consent OF the purchaser and seller.
9Th. Resolved, That the former custom OF public
bids remain in ior2e, viz: when tobacco is being cried
out al a price below six dollars, no bid for less iHau
ten cents shall be entertained, Snd when over sI dol
-. -. -. tIar -aa t, ,,. nnpta q Nna 1nH
pounds, unless the bid be claimed by more than one,
! and the cryer is unable to decide which is entitled 10
! il; 10 that event, an advance bid Of half the cum in
eithes use IL to be received from either one of the
| parties, and in all cases the cryer, II practicable,
shall decide between claimants of fret bids.
9TH. Received, That whenever a ~hogshesd 0 ftobacco
il offered for sale at public auction and not disposed of,
| and the same be offered privately the re-
| fusal should be rendered 10 the last bidder, except in
such CAGES where, for uthclentiressons the .ender is
unwilling to sell to the bidder.
9Th. Resolved, That any tobacco that may be of.
fsred at public sale, cali be retired by the planter,
or his factor, should he be dissatisfied with the price.
This privilege, however, must be exercised directly
after the tobacco ia cried out or not at all.
9th. Resolved, That the same rule be applicable fer
private bids for tobacco. rs stated in the sixth resolu'
ton, regulating pubic bids, namely, q full advance
bid.
10Th. Resolved, That the interest of the trade re.
Quires that the inspectors and commission merchants,
respectively, describe upon their sample tables the
condition OF tobacco, when the sample ID drawn, whe.
Their the tobacco is passed stained, damaged, heated
or broken, in the cask, and also the gross or nett
weight, and accurately, as far 81 practicable, the pro-
portion of any mixed h%ogshead.
llth. Resolved, That during the progress of the
public sales all private trading for tobacco, at the eI-
change, be conducted exclusively at the stand OF the
commission merchants.
10Th. Resolved, That the auctioneer OF the exchange
provide himself with a list Of the inspections at the
several warehouses;, each day, and that the sellers be
.,IIad 90 tIa otupd bv said liaf in fhe order lprptOfOra
governing inspections-viz SeabroOk's on Monday
md Thursday, Shockoe on Tuesdsy and Friday, Pub
lie on Wednesday and Ssturday-DibrelTs always
following Seabrook's, except on Saturday, when 1t
will be called second in order.
The following amendment was offered by Mr..
Gooch, as a substitute for the 10Th resolution:
Resolved, That the proprietor Of the sales room be
required to make ont q lst Of all the commission
merchants and public inspections in the city OF Rich
,nond, in alphabetical order, and shall commence tie
public sales by calling the name first on said list, and
80 on, alternately, until each name has been called.
frat in the order thereon entered, continuing his call
from each commencement, in the order aforesaid, un
iii the list il gone through with, when he shall com
meuce nj the beginning.
The amendment being voted down, The original
resolution, as reported by the committee, was adopted.
18th. Resolved, That the regular public salAs of
tobaGco he made strictly Tor cash payments.
liih. Resolved, That it be the duty of the con.
ductor OF the public sales, as far as practicable, to see
that the Exchange room is kept in proper order, and
W WIN NhpNNih oHi ht ''itNi 'uNNNN SSSA
sistent with the comfort or interest OF visitors TO the
room, and also that the seats at the public sales bench
be reserved for the exclusive accommodation OF
buyers.
10th. Resolved. That the Inspectors at the several
Ware Houses, be requested TO begin tnair daily
breaks at the earliest hour of the morning practicable
and that the breaks be limited 10 such number OF
h~ogsheads as can BE- ~coopersd up, or secured from all
liability TO injury on the same day on which they
are broken.
10. Resolved that the Custom of ~reprizers marking
their Tobacco Tor inspection with fictitious marks, and
thereby opening wide the door to fraud by which
buyers have, and may he deceived or defrauded.
by false packing, be discontinued. and that they
pnt their own names upGl the same. and that
sellers announce at the time of Offering such tobac
CO thai i is repriscd with The name of the reprieer
thereof, protecting the innocent, honest repriser rs
w"ii ~ buyer against the lees ,crupuicus.
l.. Red, ed, rnat having u due regard TO the cccn-
"my OF tt;Is il The prompt Dispatch q! bGsiEess, il is
recommended that during the public sales all other
!uhtleTs ir.e.svn&. 10 such business as lar Is practical
ps avoided sul the attention OF buyers aud auc,iunesr
combined for The conduct OF speedy Gales.
lsth. is-sc,vtj, Ibat We eject aGnua!:y from our
nU.nge7, Z Committee %, Cve. i-..e .! wu:ch may aC:,
.rrreseutiU. the different interests OF the trade
manufacturer, shipper, seller-:o be called he Com
mittee q; Reference, 10 whom may be referred all
questions OF difference arising in the trade. and when
both parties agree 10 refer 10 The decision Of the com
mittae il shall be binding.
Whereup0n, The following resolution, az offered by
Mr.. VIM. Gw.tamey, was adopted by the meeting:
Resolved, Inst any p!autsr having his tobacco in
the hands OF inspectors, and who may pref: 70 have
il gold e, the Exchange when inspected, may DO SO,
suhjec; To he rules Of the Exchange.
On motion OF Mr.. John jones, Capt. VIM. Y, SLep.
pard uss elected Auctioneer.