The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-10-15
LETTER FROM PETERSBURG.
Correspondence Of the Richmond Dispatch.
PETERSBURG, October Is, 1866

Tn the various branches Of trade the
market has been characterized by gene
raj and increased activity during. the past
week. Notwithstanding the unfavorable
state of the weather. q number of country
merchants have visited the city, and made
their purchases on satisfactory terms-as
good, doubtless, as could have been had in
the northern markets, making allowance fol-
freight and charges. The want OF capital
however, acts as considerable restriction
on the trade Of the city. Men from the
country need some accommodation In the
matter of credit, which our merchants are
unable to grant to any considerable ex-
tent. Business, therefore, Is generally
transacted on o cash basis; nevertheless
many goods are sold on short time, in an
ticipation Of the cotton crop, which Is be.
ginning to arrive quite freely.
Our last report left the cotton market
with declining tendency. On Monday it
opened with but little activity, with sales
of good to prime at IS to 50 &C.; extra, 3Gc.
On Tuesday il was still more dull ct de-
cline Of one cent on the various grades.
On Wednesday sales were made at about
the same figure, say "a to $780,, the latter
for strictly prime. Owing to the stormy
weather on Thursday there were but few
transactions, but the news from New YORK
gave more confidence to holders. On yes
fcrday sales were made to fair extent at
sc To 3G3I cents for fair to prime, some
holders asking more than these quota
tions-indeed, very choice lots might pro-
baby have been sold at 81 to 81 cents.
Much of the cotton coming in is in damp
order, owing to the recent wet weather.
Ginning at such time breaks the fibre
and Injuries the quality of the staple.
Planters also have fallen into the bad habit
of having the picking done by the hundred
weight. The natural effect of this Is that
much is picked before the bOlls are fully
expanded, and therefore not in condition
for market. But the season is late, and
planters are in hurry to sell their crops.
II is hoped that by another year the i'm
proved gins will be generally introduced,
and that more care will be used in prepar-
ing the crop for market.
The market for tobacco has been de-
cidedly more active, and the prices show
an Improvement on oil grades. Good featy
sorts, suitable for manufacturing, are in
good request, and at very full prices. Sales
Of this description have ranged during the
week at from els to $50, aud of coal-cured
wrappers (new crop) at from S25 to 800.
Except for such wrappers, however, there
IS no disposition to buy new tobacco. The
receipts are very trifing, and the stock in
the warehouses for inspection is getting
very low. The inspections for the last
week were l20 hogsheads, and the reviews
81.
The transactions in wheat have been
light, the principal demand being for seed,
which commands very high price-say So
10 1926 for red, and $3.50 to 1926 foI
white.
An active business is doing in fertilizers,
with an advancing tendency. Guano is
getting scarce, and may be quoted at $40
to $92. so cash, otherwise S95. i.
Corn is In good demand, and the market
steady at $l.2O per bushel. ...l
Bacon firm; Virginia hog. round, 20 Ia
alc.; hams and sides, FL to &c. western
shoulders, IL to lsc. and sides, 2lc.
The following are the official receipts OF
shipments from Petersburg to European
ports from April /, 1866, to October /,
1866 400 hogsheads, 10 tierces, and $50
boxes of tobacco; zoos bales Of cotton
and 800 barrels Of -four. Il t
The receipts per Southern railroad since
the LIST Of October are 6Sl bales Of cotton
and 10 h0Gsheads Of tobacco.
From o'clock on Wednesday till about
the same hour on Thursday there was o
continuous fall Of rain--at times very
heavy. Tho river is consequently very
full, and still rising. Such storm is I'M
usual in October, and the farmers are seri-
ously retarded In their work. But We may
expect much fine weather yet until the
middle or Goth Of November. SN0wDEN.