The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-10-03
THE TOBACCO MARKET As REPORTED
BY THE NEW YORK TOBACCO LEAF.
<uup.,Dr,u

Vyrgiaid Lent-Ata time when che financial in
tercst, of the cit: were wagering hetwen secufll!
and d,uupr AS they seemed 10 he dong the greater
mart of last week f. would have spen unreasonable
to anticipate Il large amount on ssls'ncsS III mtr-
cautiir and commercial circles. iAer' Is reason
rather p surprised that any haiutsS III III cou"
have been done oder circumstances OF so alS'hri-
ing aud dsnrgtnizin@ Il clirarsa7. lli"i..hcii. III
common With iinanci al Incll w.S most 81 W.. uc
far more concerned about tsr immediate iillnrc
than about the existing nresda' ana thcir poi
lev and actions were shaped -ESh'r with a view 10
wlr,liug off conii gent tngcf.. or. III othcr ""u
to ling their Houses in "rflir for the Storm 'iit
might vet be impending, tlEsn ro approrriatine me
traffic that panic or M p'tllt could ~ ntc.,siiH ~"
depended upon for Keeping ts'' wheels 81 trie III
morton The crisis s"anriS PIE such a Ia uchtlhi
prudence an vigilanc" ri!rS than enterprise an"
,n,rrtion ard accordingly. the exercise OF these
DrntcrrIu" attributes c"s.i lHted aud 'ypihcd he
principal Effort amt a:h%14eht o. INC Ht n. No
ioy appears Ia h'..e tried 10 q" much iisihcSS.
and mech business. tnGr2tnrs, was not done
In the tua""o ai.,sgE. aid in tie hranch ul'icr
the present teaG, - %II rs others: lhcrc Was IL
much doins-"rhlls lh" M ~
where: hut nnwl rc'tiS thcrc even ai aPp'""'H ~
Sbiipiug was almost ont of the question: and Tor
novelty not on accNant %! high or scarce trcish;s:
hut ON account of exchange, bills Of exchange he
ing almost uumarcLAt;Ic. not even nrafS SACRIFICES
| nriuS sufficient iutnccmcnt To "ntiit moheS "n
Them and asa consequence very llltlc protcc "t
| tnLr,ro was ~hilurt domestic trade WAS impcdcd
by the prevailing tstIisi Of mercantile paper noun
hlyrrs a.;d .cllers Appearing reluctant 10 handle
| eXcup: untcr the most favorable clrcniEsiih-s~'
which IT the best were anything but faforahle IS
ru dealer, preferred holding Their goods 10 Sll-
Ing than for other than cash or its rquivalcnt anu
buyrs,. rcaliuNg clearly the situation of aftirs,
cDiIstrratey refraincd from efforts to negotiate
| when not able satisfactorily TO meet the p auire-
| mcptSot holders. ,,., .
| The result OF all this wis, already in: atcd,
dInished volume business In all departments "i
| trad,.: OF which dnnuLion the tobacco E.dc par
| took Us a matter of course, though 2pt, to L re-
| markabte IL gree. -.
\ or Virginia goods there were m0tfERte sales l"r
domestic use, and possibly some of Fhica We nave
/ not heard for export. The marc, Il summarized
NAV b. said To have been noicc:ac plorc tor me
asruee of inquiry than for angling ese; steanl,
| ness continuing throughout tie whole evehtiu'
| week. -,
| Mrnuftctured.-l avendish ipa necessarily bef'l
affected seriously by the cp-4ArBo on Dill! Oh ~
| change, although We note sa'pe TRANSACTIONS III
| general assurtmants for pre,apt use.
The Journut 81 Commerce IN lis general iri ,,l
summary th,ss refers tn l2tacco affairs: me To-
baccO trade is getting alossg nicely. The ningmen
arr Golug very little business because TING virginia
manufacturers cannot get their drafts discounted
Usually Virginia manufacturer would sehu MS to
bacco Ii, re 10 i commission merchant, anu DRAW
against 1t ut sight, tow thirty, or sixty days. anu t
Virginia bank, would discount tho drafts. Now TN
banks refuse, aGq the tobacco ceases to come Tor
! warQ,N