The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1877-10-23
TOBACCO CIRCULAR,
BALTIMORE, October 6, 1877

CO with a reasonable prospect for grad
tial impfovetiient III prices; i'd view of
the very short crop Of Tobacco in the
field at the time.
However, the extremely seasohahle
weather since has greatly changed the
situation, and the same being the case
in all other States as well, Markets gen.
orally have felt the pressure ofsincreas.
ed offerings, and have weakened in com
sequences, low as prices were already
Turning especially to Ohio Tobacco,
some H8fders have been quite forward
to realize. but without succeeding, there.
BY to swell the volume of business, as
the buyers fer Duisburg and France
have 80 nearly secured the quantities re.
quired by them. and as Shippers to the
open Markets are not tempted to ven
lures as LONG as the general trade abroad
remains in Its present depressed condi-
ton. As it is, the transactions during
the past month will probably reach g..
500 Hhds., mostly for France and Duis.
burg, the open Markets participating
but little.
For France and Italy only some zoe
Hhds. are now required yet and the an
nual supply for Duisburg has beer
bought within few hundred Hhds ; the
demand for other purposes we estimate
at 1000 Hhds., making about 2.00(
Hhds., required yet this season. Tn,
present Stock in hands of Agents i.
about $500 Hhds., and at least 1,50(
Hhds Of last years Crop are still in tn,
country, making total supply OF 5000
Hhds, thus leaving stock of about Z,
900 Hhds in first hands to be carried
over to next season.
The New Crop we now estimate a
$4,000 to $4,000 Hhds, and adding tn,
above Stock of 1000 Hhds. to be car
ried over, we will have supply of Is,
900 to $4,000 Hhds. for the coming sea
son, while the regular annual demand i
only $4,000 to $4,000 Hhds. on an av
erage
As regards the character Of the Ne,
Crop. We are informed that the earl
planting on New Ground will probabl,
be of fair quality and good colors, bu
that the Old Ground Tobacco will hav
large percentage Of short, very com
mon stuff Of inferior quality and color
TIE crops in the other Tobacco grow
ing States are, on an average, large an,
good, while Stocks are heavy aud th
markets depressed; prices for Marylan'
and Kentucky are comparatively lowe
than for Ohio Tobacco and still lowe
range of prices is generally expected 70
the coming season, making heavy com
petition to Ohio Tobacco, particularl
on the common to medium grades.
+ Considering the esituatioaaHd.the pros
poets, we claim, that the new crop mus
be bought fully as low and lower tha
last year, say: at 81 for sound commo
to 81 for fine crops and at these figures
all damaged, frosted and unsound To
bacco should be strictly excluded.
With the experience of the past sea
son before US, we would particularly ad
wise our friends to closely disoriminat
in buying between good and poor crops
the former will always command fai
prices, while the latter must rule yer
low, as this class of Tobacco especial
has to stand the competition of cou
mon Maryland Tobacco, with which ou
market is now burdened to the extent G
5000 Hhds. held at from 81 so to So 0
per 100 pounds for sound Tobacco
without finding buyers II our friend
refer to their books, they will find tbs
they generally incurred loss on tn
common Crops; in Crop of this kin
there is always more or less of froste
and damaged Tobacco, which is tota
loss, as it hardly pays for tying, paci
ing and transportation; besides, thi
common stuff svelis the volume of th
Crop at the expense Of the better grade
and it should be the policy of buyers
discourage altogether the saving of sue
inferior Tobacco.
Spangled Tobacco will be in good d.
mand again the coming season, but o
lower figures, these being a much large
proportion of this kind in the preser
Crop, and Turkish Tobacco having n
Gently become very formidable con
1etitor in European markets; the ne
Crop of Virginia is also largely of th
Spangled order.
| On account Of the large exports {
Cereals and other staples, we are no
having high rates Of freight, and CO
respondingly low rates of exchang
with Gold tending towards Par. Q
Tobacco, these items now form diffe
ence of at least 30 cents per 100 pount
against the Shipper, and as these cond
tions will most probably prevail throug
. out the next season, it will restrict bus
{ ness and bear on prices, as is the ca
f at present
In retrospecting the business Of Il
past season, we must confess that it b.
not fulfilled reasonable expectation
the Crop was bought last fall at apps
emily safe figures and still the result
. not satisfactory, mainly on account
!. the excessive supply, and if the prese
o growing Crop had proved to be an a
!: ? erage one in quantity, prices would ha
MI declined still further. We took occ
sion to point out this contingency
our circular last fall, when we remarke,
). "unless the ne,o Crop is bought at such
. figure thatthe Production piU be decreo
s ed, 1t ,oiH proue to be an Improbable !
: uestment even at a price ,ohich at prese
, might be considsred safe" We dare So
q this remark is eminently applicable
: the present time, and we advise o
Q friends to act accordingly
ol The inspection Of Ohio Tobacco
to date amount to 2l,322 Hhds again
r7,205 Hhds last year; of Marvla
! there are 1896 Hhds against 3S 8
= Hhds The shipments Of all kinds
y Tobacco from this port are 9,57l Hh,
- against 50,524 Hhds and Stock in Wa
. houses are 28,9l4 Hhds. against 1914
- Hhds. lastyear.
n Yours very truly,
;" GIEsKE & NIEMANN
u