New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-02
CROP OF RICE FOR l8I2-t3,

TOBACCo.-We commenced the year on
the first of September with stock on hand
including all on shipboard not cleared, of
S5l2 bids, against 4434 at the beginning of
the previous year, 1872 IN 1870, 1858 in 1869
2l83 in 1868 and 3l79 in 1862, showing the
comparative extent to which the supply had
been reduced by the demand for export.
The quantity ON sale was estimated at 1000
hhds, against 1000 in 1871, 1000 in 1870, 5000
in 1869 and 1850 in 1868.
The market was quoted at S1e 994c for
Jugs. GLE a 10l2c for low leaf, l0l2 q / lac tor
medium, - q l2lac for good, and 13 a lac for
selections. The receipts in September and
October were limited, and the sales for
these two months confined to barely 1000
hhds at prices indicating no quotable varia-
ton. The first hid of new crop reported
was early in October, followed by two hhds
on November 2. At the commencement of
the year the crop prospect was favorable to
a large yield of more than average quality.
but was subsequently, materially changed
by severe AID protracted drouth through
out the West, except on the upper Cumber
land. In GAINESVILLE and the western dis
trict, in particular, the es Inmates were ma
terially reduced, many putting down the
yield to 400 to 500 lbs per acre instead of
800 to 1000. Moreover owing to prema-
ture cutting it was apprehended that the
quality would prove inferior Early in Octo-
Der, when all had been cut and housed, it
was estimated that the receipts of Western
leaf would not exceed 10000 hhds, giving
with the stocks on hand and receipts up to
the close of the calendar year, supply of
$4,000 hhds, while the estimated wants
were little over 100000. Early in Novem-
Der there were some further light receipts
of new crop. At about this time, or the
representations of brokers and buyers. and
in order to place our market in that par
tlcular at no disadvantage compared with
New York the trade adopted the regula-
ton of allowing selling brokerage Of 81
y hid. The stock on sale was now esti-
mated at 6l00 hhds, and from inquiries
with regard to exchange and freights,
and a more earnest scrutiny of the stock
and sounding the market it became
manifest that the previous comparative
stagnation would soon be followed by
more active movement. Nothing, how.
ever. was done of any moment until the
reported destruction of 5000 hhds by a dis
astrous fire at Jersey City, opposite New
York, seemed to precipitate the demand.
and on Thursday, November u, buyers
came forward and took 1913 hhds. which
was followed by sales of 1858 on the TWEEN
ty-second, including one sale of 1000, max
ing an aggregate for the two days of 1896
hhds. AT about this time quotations were
reduced lac on Tugs and Sac on leaf, Tugs
being put at &C. low leaf at a9s4c, me-
dunn at 934 l034c, good at ia lilac.
and tine and selections at 1919 l3l2c. These
heavy operations reduced the supply on
sale to about 800 hhds. The market cow
relapsed in its previous quietude, until dur
ing the third and the early part of the
fourth week of December buyers again
game forward and took upwards of 800
hhds at prices indicating no quotable
change. With light receipts, and further
sales of about 500 hhds in January. the
supply on sale was now reduced to from
200 to 300 hhds, and the movement was
restricted accordingly. In the latter part
OF February the new crop commenced
coming in quite freely and proved superior
in quality to the early arrivals, especially
with regard to richness, color and breadth
of leaf, the heavy, dark descriptions being
still wanting. The receipts were still more
liberal in March, when they summed up
4345 hhds, but the movement being checked
by scarcity Of tonnage the sales con
tinued on very limited scale Early in
April, it having transpired that half the
Italian contract had been awarded. calI;nS
for about 10000 hhds, the moyemeHt
became more active and the months aales
summed up 5000 hhds against receipts Of