The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1875-06-03
FHE TOBACCO TRADE.
It's Present strong Position ana the
Prospect OF Prfees--An EneOuragfnn
Exhibit for Producers.

Its Present Strong Position ana the
Prospect OF Prfees--An Encouraging
Exhibit for Producers.
The past year has been a most event
full one in the trade. Severe drouth
last spring burnt ND all the plants. and
the dry weather continued so long as to
prevent any possibility of replantipg.
About the 1st of June large speeuls
! tive demand began, persons ii the plant
| ing districts having concluded there
| could hot possibly be more than one
! third of an average crop. At that time
Tugs" were held at from Al to 81 cents,
| from which price Trey advanced rapid
| ly, under speculative manipulation and
| continued complaints from the west, TO
9 and 101 cents. Medium leaf advanced
from 81 and 8 cents, until it reached
123 and Il cents, while good and hne
leaf and choice selections advanced from
and 123 cents to IS and 25 cents,
This almost unpreced rise IN prices
had two effects-it checked consumption
and drove exporters from the market,
leaving the speculators (nearly all from
the west) either the alternaf i've of selling
out TO one another, or of putting up
satisfactory margins with their factors
for the purpose Of locking up tobacco
and compelling a rise in value. EXpoI {
GLb anu COubEdCLOL5 were Luub udEuEdllF
arrayed against holders, both sides wait
ing to take advantage of any weakness.
The result was a very quiet period dur
ing the winter, without any material
change in prices. This continued until
recently, when reports of frost through
the tobacco belt, end serious injury to
plants, had a stimulating effect, under
which some choice lots were sold to ex-
pOrters, who were in great need of sup
plies. A scarcity of plants this season
will be much more serious than ever
before, as it has been almost impossible
to procure seed in sufficient Quantities
to supply the demand. In fact, there
has been so much difficulty In this re-
spect, that q leading Cotomissioh house,
anticipating the Necessity, during the
winter, obtained as much fine seed as
possible, and forwarded it to the editors
of western papers, to be distributed
among the planters. The stock of to-
bacco now held in New York is more
than double the quantity on hand at
! corresponding period for several years,
but there are large orders to be fiJlc1
by contractots, which have been ex
tended from time to time, md which
will consume large portion of the
desirable grades. The principle portion
or stock now here IS OF en- undesirable
and nondescript character, and there
can be little doubt that really good
grades in sound condition would bring
even better prices then were obtained
last fall.
The following table viii give the
prices of tobacco for the past two years:
1875. 1874.
Light. Heavy. Light. Heavy.
Common to
goodiugs.1O @l2 l1@l2K 4k@ 4l@ 6K
Med. 216a142l1ae15 5K@ 7 @ X
Tsaf, Is a19591ea2o 3 @1O ) GIL
Caoice Sc
Iections..2I @25 21a95 lO<a1I t1Ka14
1t is reported as a fact that Reggie"
contractors are short about 35, 600 hogs
heads to complete extentions on orders.
The stock in the four principal ports is
now 66, COO hogsheads, of which large
portion is of too low grades for their
purposes. Under these circumstances,
tobacco may be considered in a strong
position, and good prices may reason
| ably be expe cted but a quiet tone pre-
walls, end may continue for the present,
as holders evInce no disposition to make
| any concession, while contractors are
taking advantage of the extensions
granted them.-N Y. Tribune.