The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-07-23
LETTER FROM PETERSBURG.
Correspondence of the Richmond Dispatch.
PETERSBURG, July 81, lSGC

PETERSBURG, July II, 1870.
Business during the past week is but
little changed from what it was during the
week preceding; that is to say, it has been
dull in all its departments. In produce,
the receipts have been light, and the mar
ket without material change in prices.
In cotton, the quotations vary but little
from those furnished you week ago. The
foreign news has had but little effect on the
markets, which has been without either
speculative or export demand for some
weeks. Sales have been made exclusively
for manufacturing purposes, for which the
demand has been limited. Middling, "a TO
35 cents; low middling, 81 to SO good Or
binary, 80 to 81 ordinary, q to 20.
The offerings of tobacco have been large
at all the warehouses during the week, and
the market has ruled steady for all sound
and good grades but for common tobacco
the prices are lower. Sweet, bright manu-
featuring tobacco, also dark rich to-
bacco, is in demand at good prices. The fac
tories have nearly all been reopened, and
are working with good force the consc-
quence of which is that the tobacco trade
shows more activity than any other.
OF wheat there have been but few Pc
ceipts, though the demand both for the
home market and shipment is considerable.
The experience of former years indicates
that very little of this grain is brought to
our market earlier than August. Best
new white commands about $3.50, and best
new red $3.50.
Reports from the country show that fine
showers have fallen in many places. In
this city there was very refreshing, but
not heavy rain last evening. The indica-
tons, however, are favorable for con-
tinued showers, which the parched con-
dition of the crops, consequent on the re-
cent heat, renders peculiarly grateful.
Your correspondent woud be gratified
to report more favorable condition OF
vigor and activity in this city than present
indications seem to justify. 1t IS to be
feared that her merchants have lost some
thing Of the spirit Of enterprise which
formerly distinguished them. The number
Of stores now closed on Bolingbrook and
other streets, with labels "For Rent" on
the doors, are significant of a downward
tendency in the prosperity Of the place.
inns may be caused in great part by high
rents, and doubtless is; or the cause may
DC temporary, and susceptible Of removal
on the revival Of business. But it GER
tainly behooVes the merchants to combine
together for the institution Of some mea-
cures looking ahead.
One such measure, calculated to have an
important influence, is now in agitation
the establishment Of . Produce Exchange.
a rather sickly institution Of this kind had
an existence here before the war; and a
large building, called the Exchange, was
erected many years ago to promote the in
terests OF trade; but want of steady
support has always been visible in such
matters: II the contemplated movement
shouid De carried forward, and the enter.
prise placed on stable foundation, the
enect cannot be otherwise than beneficial,
by bringing the merchants into more fire.
quent contact, and promoting that esprit
du corps which is requisite to success in
all public undertakings. SNowDEN.