Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1870-05-21
THE resAcce TRADE.
Prescnt anomalous Csssditaen Of the
Market. r. r

THE TOBACCO TRADE. A
Prrscnt Ancsnsleur Csnditaen Of the
Market. III
From the New York Commercial Bulletin.
TIE position OF this important sta
Pile Is In many respects q novel one.
The season for general activity has
arrived, and yet transactions are not
large, and the market may be said to
open wrong end first" that IL, the
Western and interior markets are
higher than this, and this market Is
higher than the Europeon markets,
TO which our surplus must be SENT
The situation r., therefore, a critical
one, and requires careful considera-
ton, to avoid loss, while, to secure
the legitimate profits of trade, APP
pears to be work attended with ex-
traordinary difficulties. The ship
pers, or the dealer, or the manufactli-
rer, who buys now, must do so with
the probability amounting to almost
certainty, that, except through rise
upon prices already high, and the
continuation Of consumption al
ready large at these prices, he has no
assurance of profit upon his trans
action, while the danger of loss pre-
sents itself from many influences,
the precise nature and Importance of
which he cannot clearly perceive nor
accurately estimate.
There is no question that the crop
of kentucky tobacco Is deficient
say about 10000 hogsheads-and that
the quality of much that has been
H., Inf ~ ,,,s.
and Maryland offer only an average
yield. The stocks here and In Eu-
rope have seldom been smaller. The
crop has been placed at high prices,
and Is In the hands of Spectators or
commission houses who will make
every effort to relieve themselves at
profit, or at least without Loss
Money Is easy. The want of buyers,
If small, are certain and pressing.
General trade Is improving, and this
fact favors, under ordinary circum-
stances, o steady consumption at high
prices.
So much may be said In favor of
the seller. What Is the aspect of
affairs as they affect the buyers p
The time has arrived for the crop to
he marketed. 1t Is now coming for
ward with much freedom. Prices
are 80 high that many consignees
will feel timid about holding or car
rying the article. Some speculative
holders will he under the necessity of
selling. The demand Is of that cau-
tious, hand-to-mouth character which
Is so oftentimes fatal to the mainte-
nance of speculative prices. And not
the least Important consideration in
this connection Is the danger of adul-
teration and the employment of sub
stitutes. Tubacco Is peculiarly liable
to these processes, by which Its con-
sumption at high cost may be Sc
riously retarded. There is another
drawback to the strength of the mar
ket. 1t has been usual in April for
the Governments of France, Spain
and Italy to award contracts in this
market for several thousand hogs
heads, giving US assurance of an ex-
port demand to that extent at least.
These contracts were but partially,
or at best irregularly, awarded in the
month just passed, and the circum-
stances attending them this year are
such that they do not afford their
usual support to the market.
In view, therefore, Of the facts Of
which we have given hasty review.
we must repeat that the position OF
the tobacco market is n critical one,
requiring much care to protect this
important branch of the trade from
the difficulties which overlook cotton
and breadstuffs In the effort to main
tain prices I'm those staples The for
mer began to decline under q dull
trade, and the hitter became de-
pressed when stocks showed an undue
accumulation, Notwithstanding the
reserves to come forward were known
and admitted to he small. And yet,
1t must be observed that, thus far,
| prices OF tobacco show no signs of
weakness; In fact, the comparatively
moderate movement which began in
tthis market early in April, was lin
1 judiciously,3 we are inclined to be-
ilieve,) attended with some further
advance In the West, while, as to
seed leaf, the scarcity Of the old crop
4 has compelled buyers to enter upon
4 the new crop. We are in the midst
tof the annual excitement I'm Connec-
1 ticut tobacco, which opened at extra
Ordinary prices, of which we already
see the natural effect; manufacturers
are making seconds" supply to. a
large extent the place In which the
finest qualities properly belong. In
the lower qualities OF seed leaf, which
are grown in New York, Pennsylva-
mia and Ohio, the same course is
adopted; but its effect has not, as yet,
been fully demonstrated it must,
however, seriously embarrass the ex-
ecution of export orders, and compel
Germany to greatly curtail her de-
mands upon our market.