The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-01-24
Richmond an q Cotton Market.

Richmond an q Cotton Market.
RToHnoND, January 20, 1877.
Editors of tie Dispatch: Those OF your
readers who desire to see the material pros
perity of our city In all OF her commercial
and manufacturing interests have read with
pleasure your recent articles on the subject
OF making Richmond cotton market.
About two years ago the writer, with one
OF two other gentlemen, called o meeting OF
the businessmen OF the city, at the rooms
| Of the Chamber OF Commerce, to consider
the practicability Of making this cotton
market, and to devise the ways and means
of starting the enterprise. Though the call
was made through the press therewere only
six or seven present. Why this apathy andfn-
difference upon the part OF our citizens when
a subject OF such great Importance to The
future commercial prosperity OF our city Is
to be discussed? Are they satisfied to
remain among the non-progress1ves IN
| perfectly passive and Inert state and see
large and lucrative trade diverted to ether
points which can easily be controlled by
concert OF action on their part? Why at
tempt to extend our railroad lines beyond
the tobacco-growing region unless we IN
| tend (at least to attempt) to control the pro-
ducts Of the remoter sections? We all an
ticipated great results to Richmond on the
completion OF the Airline" railroad to
| Atlanta; but what arc we doing to open up
trade with the people OF that section ?
Their product is cotton, and their mer-
chants trade where that is sold. We all dc
sire western connections with the Chesa-
peake and Ohio railroad. But what adj
vantage will accrue to the trade OF Rich
mond particularly unless men OF enterprise
and capital open large wholesale houses
for the sale of pork, bacon, lard,
whiskey, flour, and grain, so as to- compete
with Baltimore and the more northern cities.
Unless we wake up to sense OF the I'M
portance of these enterprises We will see
the products OF those sections we have
already reached, and are trying now to
reach, pass by our beautiful city like the
waters OF the James, unutiliZed, and north
ern cities reaping the benefit OF our vast
expenditures for works Of internal improve
ments.
Petersburg, within twenty-five miles OF
rs. sells $4,000 to 10000 bales per year;
Cincinnati and st. Louis (much more I'M
natural markets} handle about 100000 bales
Der year each. We have the railroad from
here to Wilmington, n. c., to draw from,
and having much larger and more eXten-
siye stocks Of goods to select from than in
Petersburg, would get large portion OF
the cotton now sold there and sell the
goods. We have also the Richmond and
Danvlle railroad, with its connections to
Atlanta, Montgomery, Mobile, and New
Orleans, passing through the centre of the
cotton region. Last season there were 25,-
49,, 500 pounds OF cotton brought over that
line, equal 70 56,626 commercial bales, 49,
600 OF which were turned off at Burkville
for Norfolk, the remainder coming through
Richmond.
We could draw from the Atlantic, MissiS-
sippi and Ohio railroad, instead of the
reverse, as shown above, il we had
market here.
There were brought over the Chesapeake
and Ohio railroad from 1st October, 1875, to
1st December, 1876, 5,722, lis pounds, equal
to 12,7lS commercial bales. These are our
receiving avenues.
We have the Richmond, Fredericksburg
and Potomac, York River and Chesapeake
railroads, and the James river as our dis
tributing lines. Suppose we sold 10000
bales per year at fifty dollars per bale (Which
would be equal to about eleven cents per
pound average), it would amount to
$500, 900; and it is safe to say that twenty
five per cent OF that amount would be eX-
pended in the city for merchandise, in
surance, sc. \ bale Of cotton is worth as
much to the trade of city as hogshead OF
tobacco, though the latter may bring twice
rs much money, from the fact that the
growers Of tobacco pay more attention
to the cultivation OF cereals and the
raising Of stock than the cotton
planter. With sufficient capital to
control the cotton, I believe that in five
wears we could handle $4,000 bales, and in
the next decade twice that amount, giving
us o trade in that one article OF $4,000, 1000
nearly il not quite equal to the tobacco
trade which we have had since Richmond
was city. In 1872-'73 there were 81 1000, 900
pounds of tobacco sold in this market, and
take it that 50 per hundred-weight is a
pretty good average for tobacco. One
fourth OF this five millions for cotton Gas I
said before) would be expended in our
midst, every branch of business feeling its
good effects. Some ask, HWho would buy
the cotton ?" There is always money to
move cotton when and wherever offered for
sale The spinners and exporters would
have their orders here, and as there IL, COM
!, paratively, but little doing in tobacco during
the winter months, when the bulk OF the
cotton business is done, our tobacco-men
would also become buyers.
People once laughed at the idea OF Nor
folk ever being cotton market. In 1858
anu 1908 Lut fcCelplS tuelc NC1C ouly O,1tt
bales, in 1924 they amounted to 472, LAG
bales, and in 1S75-'76 to about 100000 q
have not the exact fgures), being the third
cotton port in the United States. Their
direct foreign shipments last season were
1OS, 172 bales, whereas in 1S71-'72 they were
only 4,GS7 bales; in 1874, 20,346; and in
1875, G7,212. There were actually handled
in that market during the past year 143, 292
bales. ..-..
What is true of Norfolk may to n certain
extent be OF Richmond. Cotton factories
will naturally follow the establishment OF
a cotton market, and in few years you
will see them dotting the banks Of the
James and hear the busy hum OF thousands
OF spndles. With view Of taking some
practical steps towards the inauguration Of
a business of such vital Importance to the
city would it not be well for the president
OF the Chamber of Commerce to call a
meeting OF the citizens and discuss the
question in all its bearings.
Is, There is not o businessman in the city
who could not afford to take stock in order
to raise q sufficient amount OF money to
control the cotton, organize cotton asso-
citation, and thereby utilize the resources
at our command, and make Richmond, what
by right she ought to be, cotton market.
/ ENTERPRISE.
The steam collier T. A. Nichols, OF Cam
| den, New JERSEY, was sunk in the Brandy