The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-06-16
THE TOBACCO TRADE.
Extract from Gieske and Niemanu's
Cir, uIar OF June 11Ih.

Cir, uIar OF June llIh.
We are indebted to Aug. Pollock,
ESQ of this city, for Gieske and Me
maun's latest circular in relation
to the tobacco trade, from which
we make the following extracts:
Our market for Ohio Tobacco for the
past two weeks has shown more ami
m nation, the total ssles made during that
period summing about 1880 hogs
heads.
From the latest reports received from
all the Tobacco growing regions OF
Eastern Ohio, it is evident now that
the crop to be planted this year will be
small one, which cannot exceed
10000 hogshesds. We are verylslad TO
learn this, as very small crop is abso-
lutely necessary 10 prevent a further
heavy decline in prices. =,
While we have no duHbt OF q gradual
advance in prices from now on Tor the'
late inspections of all grades except
very common, aud believe that fiue
grades in good condition, will bring
last years prices, we can see no cause
for an advance on the early packed
common descriptions, and Tobacco IN
IN ore or less doubtful condition equal
TO the enhanced cost OF holding it. Oh
common Tobacco an overabundant
quantity has been produced for the past
two years all over this country as well
as 10 Europe, decidedly more than can
be absorbed by the legitimate and reg
ular demand o! the trade, and the still
very unsatisfactory state OF all markets
in Europe refers principally to the low
grades.
The inspections Of Ohio Tobacco
for the past twelve years have been,
Including re- inspections:
In 1862, 14,l52 hide; 1868, 1850
hhds.; 1864, II 032 hhds.; 1865, 81 ,96l
hhds. 1866. Is, 1896 hhds..; 1867, 81 sos
hhds. 1868, 9,644 hhds 1869, 49, 10
hhds. 1870, 1854 hhds. 1871, IA, 432
hhds. 1872. 24.l26 hhds; in all l97, 4S5
hhds or l6,457 hhds. average q year
which have been absorbed with the &C.
casional help OF Italy and Spain.
Taking now the productions OF the
past two years, which amount to "a. DOC
and $4,000 hhhs., and adding for the
new crop to be grown only 5000 hhds.,
we have quantity to supply the
demand for three years, Of $4,000
hhds., or over 10000 hhds. year; or,
taking the stock OF old Tobacco left
ursold in our market un January lat.
1874, sumo 1000 hhds.. together with
last years crop OF 10000 hhds and the
production Of the coming crop OF 5000
bhds, all OF which are low estimates
we have for a supply for two years
sc, 900 hhds., or $4,000 hhds. q year,
while, as shown above, but l6, 500 hhds.
year are wanted. even with demand
for ], 800 hhds. a year rom Italy or
Spain, which at present does not exist.
OF course, larger quantity than the
above may be absorbed, but only in
Gaze o. moderate and low prices COM
pared to Kentucky and other grades.
In the face OF such facts, it seems to
US. that to hold on and 10 refuse selling
the common and undesirable grades,
| which are 10 more or less doubtful con-
ditiou besides, would be the very policy
to defeat a gradual advance. Heavy
stocks would necessarily accumulate,
and the principal buyers, by combining
with any large spectators that might
turn up--and small ones wouldn't i'm
prove the situation materially, could
easily SO manipulate and work
on such large stocks, which at one time
or another must be sold anyhow, that
the buyers would reap the benefit ex-
cIusivrIy, and leave to the present own :
ers aud holders the privilege OF paying
the losses by interest, storage. &c.
The inspections of tobacco TO date
amount to 1925 hhds., against | i, 759
hhds last year.