Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1874-08-22
LETTER FROM PADUCAH.

Il AtOuA l. ADSO<hhs
EDITORS CHRONICLE gave you,
after brief stay on this market, sort
of hasty sketch of the market and crop
prospects. Since which time | have
visited the Cairo market. [ attended
one of their large sales which went off
not only at very full figures, but very
pleasantly, except the excessive heat.
During my stay in Cairo, interview
ed some of the best posted planters
and dealers, who had made some effort
to ascertain the amount planted Their
estimates vary from % to 80 hhds. for
the State of Illinois. But should we
have a favorable fall they may have
one hundred hhds. This, however,
is very liberal calculation. Southern
Kentucky as yet has not had general
rains. They have been very partial,
drenching some localities, while others
are still dry.
The only tobacco In the Paducah
District, worthy of notice, is a strip of
country from here to Cairo, running
back from the Ohio river about 20
miles. Outside of this line there is
not enough planted to calculate. You
may travel twenty miles and not see
as much as an acre of tobacco.
We think this season (Which is un-
precedented even to the oldest Dealers
will result in a perfect revolution in
the tobacco trade. The last feeble ar
gument used at the seaboard to sustain
former wrong positions, is that the ad-
vance forced on them has been done by
western spectators (which is very
true) and will finally result in loss, and
present prices will not be sustained, as
the Reggie contractors can outwind the
i'll advised western Spectator, who is
held up as not being able to hold until
the Reggie contract will have to be filled,
and i'll order to weaken the western
men, we find letters claiming two thirds
of the Spanish, and two-thirds of the
French, and onc-third of Italian con-
tracts already filled, and that there
will not have to be another delivery
made for several months to come.
This may look all right on paper and
in circulars, but there has not been
tobacco enough sold at the seaboard
this season to furnish two-thirds to
two of the contracts and one-third to
the Italian. If western spectators
have taken eight or ten thousand. and
the home manufactors taken their
usual amount, it may be thatthe Reggie
men may hold off and Try to break the
western Speculation down but it is
hard to break men down while the
article dealt in is steadily advancing,
thereby Strengthening the holder rather
than weakening. A sale of small
portion of wheat each Spectator is
now holding could enable him to hold
indefinitely. So | consider the posi-
ion of the bears as weak, and it will
be weaker the longer they continue to
hold off, as each day renders the truth
of the failure of a crop more palpable.
The western markets have been steadily
advancing since the Goth of June,
and will continue to advance until the
first of January, and perhaps until
May or June next. This cannot, how
ever, be foreseen, as it is an unprece-
denied thing to have so near total
failure of crop.
With the best seasons from this
time until tobacco is housed, we can
not reasonably expect over 35 or 40
thousand hhds. produced, of which
but small portion will be suited for
home CONSUMPTION, as large portion
was planted III, July and those familiar
with the cultivation of the weed know
it seldom happens that any portion of
late planting will answer for manufac-
turing purposes, and should the whole
of the present growing crop be used
by the United States, they will have to
draw from the crop We are now hold
ing So thousand hhds. to supply the
! United States. The present crop will
| fall short of the estimate some ID or
20 thousand, which will not be shown
from the breaks ofthe western markets..
Our sale to-day was two-thirds re-
sales. and some Of them having been
sold two or three times before and
counted each time. When the heavy
stocks of the world Gas reported) are
called for to be placed into actual con-
sumption, it will be found much small
er than the figures now represent. The
time has passed that an agent of a
foreign government can come here
with types lettered A. B. & c. and tell
us what we shall sell them at, we have
been hewers of wood and drawers of
water for reggie CONTRACTORS long enough.
Yours truly,
W. A. BETHEL.
Paducah Aug. 18th.