The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-01-21
Foreign MsrEets-fBz tTruraa4sKl.

- LosDos, January q. --ErsnfTg. -IurpenIine,
SIS. iT sff - aTerfEf7r 5fs 94S9D
L1vERpooI, January: %. = Noon. = Cotton
firmer but, not higher; iupiands, lla@liHd.;
Orleans, l1agllad; TalloW, AIS ,.D Dd. a. tho
snot. lI6d. affoat, same; Orleans, 1lhd.;
sales estimated at $4,000 bales. Turpentine,
SOS. Cd. - sas-Sa Z 70 $50
steady; uplands, 11tSd,; Orleans, 1lssd.; sales,
10, 600 bales. ~ i
HAvnR, January ao.-Cotton-on the spot,
1885,. afloat, 1871. ~ ss.s@
FRANKFORT, January 90. United States
bonds quiet. zh - "a
AsrwzRr, January 2o,-Petroieum firner at !
6s959s. 1900 GcE @
a- lBr MaIIJ saa@sTs
John X. GilLtat1& CO.'S Circular.
re s- LosDoS,:4 Crosby Square,2
January 8, 1859. :.
We offer TO our friends a few remarks on
the commercial year just closed
Our own leading staple tobGcco) has been no
exception in the prevailing duilness Of all
re. action from the highly stimu lated market
of the time of the American war, when the
dread of ms efficient supplies rather than &C
tual scarcity of such tobacco as our trade
chiefly favor pushed up prices beyond con-
sumptive point. The result was downfall
Of the market when the artificial stimulus
was removed and the succeeding course,
though painful to holders, has been a healthy
process Of return to q scale wherein we may
at least congratulate our correspondents upon
the restoration Of American tobacco to its
proper position of preference in our manu-
fncture. .s ra4
1t cannot be said, however, that a fair equi-
libriun has been established between the mar
kets of supply and demand. Tobacco has lost
money during the year, Certain qualities, and
we'll prepared or we'll known brands, have
proved happy exception; but we think that
the disorganizatlon caused by the war, and
especially felt In the middle or tobacco grow
ing States. is still plainly perceptible In the
greatly increased cost of labor, resulting from
the destruction Of the old relations between
owner and slave. and the substitution Of that
free system between employer and employed,
which in so disturbed society cannot az yet
be said to be in its proper working order. 49,,
Add to this important item Of increased cost
of preparation the fact that much new and
experimental business has been and Is now
doing in the western tobacco States, and we
have some solu ton Of the difficulties with
which holders and consgnees have had to con-
tend through the past twelve months and
almost ever since the war. ~ +"
Our friends will not, however, fail 20 note
that In every description Of American tobacco
ercept Virginia leaf there Is q sensible reduc-
ton of stock compared with last year and
we may add that this clearing off has been
greatly Of low and generally unstable quality,
| forded the means. ... III
When we come to the subject Of Virginia.
tobacco it is difficult TO make any satisfactory
review or to offer practical suggestions for the
| future. We deeply regret the losses which
must have been incurred on much fine Virgil
| MIA leaf shipped to this market during the past
| two years. The cost has been extrayagantly
| high for the purpose and demand for which
| the tobacco has been designed. English
| shipping" means, in old parlunce, " Irish
| Leaf" and is the selection Of many of the most
| competent buyers in the Richmond market
but Irish leaf has descended from its old
| high requisites and many parcels OF well
| known brands-large, leafy, and supple, OIL
straight and roddy packed-haye been left high
and dry, while the Irish dealer runs past them
| to take his low priced filters or Missouri fac
| tory-dried instead. Export VIII, indeed, dis
| pose Of the supple leaf; but export demand
our friends know, is occasional, and the las
| year or two, unfortunately, rare; but the roddy
leaf has few friends 1t falls between the Irish
| demand and export; 1t satisfies neither.
| There Is our navy call, which Is less parti.
cular; but the Government required good
| tobacco and there have been many offers
| Nearly 400 hogsheads have, however, beer
| disposed of in this way during the year.
| We are therefore as little disposed TO en-
courage the indiscriminate shipment OF Nir
| ginia leaf as of nondescript western parcels
| Great care in selection will have TO be used
| and respect had TO the altered condition OF ou1
| market here.
but our Virginia friends must not forget tina
| they too have lost their old prestige as agains
westerns. Let them be laid down at the sam
| cost us western, and they will have fair play
| The stock ut the close of the year shows som
slight reduction on the last
OF MdryiandS the deliveries have been less
| and the stock is less than at this time last year
Our English markets have generally to put a.
| with q very second rate specimen OF the crop
| and colory quality, not mixed, sanded, or falls
| nka6 Ia hpSnrypdlv anOrppiatpd
| ufacturers, and realizes prices which W
should think would be satisfactory to tn
shipper. ,
We are glad to exhibit q considerable dimi
| mutton in the stock of NgrOhedd and Cuue1adish
which had accumulated to q fearful extern
during and after the war. There are now 800
packages less than last year; but shipper
| must be cautious not to presume upon TN
fact, nor repeat the inundation under whlci
they and we were overwhelmed before. Direc
trade with Australia has long ago destroyed
the old monopoly of this market for specia
brands of twist, and our store dealers are sooi
satisfied with very moderate supplies OF ga
yendish specially suited TO this market. Ther
| is however, @ considerable business in CaVen
dish for export.
Leaving TO our Liverpool house their regu
lar advices on the cotton trade, we would re
mark simply upon the disappointment OF IN
general ex peclation of lower prices in Liver
| pool thus far. 1t Is unintelligible that In
price Of the manufactured article should
| less now than when cotton was at nearly ha
its present value before the war. With man
data for calculation, the moving quantity Is {
| course the crop yet TO be determined. Their
seems to be disposition to operate in Anne
RIGA upon the basis of ability and determine
| tion OF planters to hold their cotton in the II
terror but 10 US, confidence upon such q four
, | datiop seems misplaced and dangerous. Their
may be inducements and even compellin
| causes to bring the cotton forward, and prov
| q crop larger than any average estimate now
: and we prefer deducing from the good season
rapid ripening, absence OF frost or much raj
TO spoil the crop, aud fair success OF the labc
system in the cotton States, the possibility 6
maintenance Of the present scale OF marke
here. .E
l is clear, however, that our view Is NJ
shared by many operators in Liverpool an
the American markets; and while we belle,
that our trade hold the key Of the position,
may suit the spinners (for time, at least,)
,, favor the speculation that may now be mad
and delay downfall which will certainl
come ii the receipts prove larger than seem
present TO be expected.
, Our latest reports on the grain markets sho
more tiTmness, with some little adyanc
chiefly in consequence of the continued W
. weather, which has prevented threshing on
, and caused the offerings OF English wheat TO
: light. There does not seem, however, mut
prospect OF any ma :erial advance on presel
rates being established; and If profits are
be made on shipments from America, the
must, we think, be based on q lower cost r:
Their than any immediate Improvement TO
anticipated on this side.
l The Baltic wheats, which usually commar
higher prices than American, are now depres
ed nearly to the same level, SO that America
. while compared with cost, Is actually low,
is with other growths proportionately high.
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