Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-05-25
TEE TOBACCO TRADE.
It's Present StrGng Position and the
Prospect Of PFicss-An EncOuFRS.
ing Exhibit for Producers.
NtW lOrk ITlbunel May

TIE past year has been a most eventful
one IN the trade. Severe G-Outh last spring
burnt up all The plants, and the dry weather
continued So long IS 10 prevent any posi-
bility of rep.auting. About the lsJ Of June
a large speculative demand began, persons
in the planting districts having concluded
there could not possibly be more than one
third Of al average crop. At that time
".ugs' wee held at fIUm Il to D cents,
from which price they advanced rapidly,
under speculative manipulation and con-
tiUued complaints fIOm the West, TO 9 and
TO- cents. Medium leaf advanced from
J5 and g GEMS, until it reached
~ and Il cents, while good
and fine leaf and choice selections
advanced from s and ~ cents to Is and p
cents. This almost Unprecedented rise in
prices had Two etieCts-it checked cJnsump-
lion and drove exporters from the market,
leaving the speculaJ0Ts (neaTiy all from the
West) either tie alternative Cf selling out
TO one another, or Of putting up satisfactory
margins with their factors for the purpose
Of locking up tobacco aud compelling a rise
IN value. Exporters and contractors were
tlus naturally aEdyed against holders, both
sides waiting 10 take advantage Of any
weakness. The result was a very
quiet period during the winter, without
any material change In prices. This c0ntin-
Uad until recently, when reports Of frost
through The tobacco belt, and serious injury
to plants, had a stimulating effect, under
which some choice lots were sold to ex-
pOrteTs, who were in great need Of sup
plies. A scarcity Of plants this season will
be much more serious than ever before, as
IL has been almost impossible to procure
seed in sufficient quantities TO supply the
demand. In fact, there has been 50 much
difficulty ia this respect, that a leading
commission house, anticipating the neces-
sity. during tie winter, obtained as much
Gne seed as possible, and forwarded it to
The editors Of Western papers, TO be distrib-
uJed among the planters. The stock Of to-
baCcO uOty held in New York is more than
double the quantity on hand at a CORE
spending period for several years, but there
are large orders to be filled by contractors,
which have been extended from time to
time, and which vii consume a large pJr-
ton Of the desirable grades. The principal
portion Of stock now here is Of IN uudesiT-
able and n0ndescript character, and there
can be little doubt that really good grades
in sound condition would bring even better
prices than were obtained last fall.
The following table will give the prices
Of tobacco Tor The past two years:
1910 1874
Light. Heavy. Light. Heavy.
g'JIaEs..Io all u@122 4E@ o 40 5s
N Ms .l... 1, f,l2g ai4AI8gu 54@7s *
Good to fire
Leaf Ii @pEIcg-, @IO 3 @u
Choice Sc
Icctious ri as zlgg5 lo.Gu uEsI4
i is reported as a fact that .Regie" con-
tractors me -ioI5 ab8Gt -, 600 hcgsheads to
complete ex s'.u> 1u orders. The stock
In the fogr principal ports is now GG,GO)
hoosheais. OF which a large portion is OF
too low grsdes for their purposes. Under
jhese circumstance, tobacco may be con
siJered III A strong position, and good prices
may reasonably ne expected; but a quiet
tone prevails, and may continue for the
present, as luIdlss eyiHCe 10 disposition to
make any concession, while contractors are
taking advantage ct the extensions ganted
them.