The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-04-17

LONDON, 4 CaosBY SQUARE,

April d, 1873.
The tone OF our tobacco market during
the past month continued extremely do.
pressed and comparatively little progress
was made In sale OF my ho,rs-trade de.
scriptions. For export there was some in.
qairy, and a few mixed lots Of old Virginia
leaf were sold at best prices obtainab.e, but
leaving, we Gear, heavy loss to shippers !;
and several parcels OF western leaf we're
also reported sold by Liverpool samples at
u to St-these, however, lying in Liverpool
will obably be counted in the sales there.
In western sfsipts we know OF sale Of
about forty hogsheads--a fine Henderson
MARYLAND some good Kentucky-River
bright stripts were placed at full prices, but
there was no general demand, or indeed
any chance OF tempting buyer with an
average run OF stripts. A few small par
cells OF bright Virginia leaf and stripts were
placed, but it is not probable that sales can
be effected to any extent at the price re-.
quired. as we understand, to nay profit.
All that can be said OF quotations is that,
for most descriptions, they are quite noml-
nal. We fear, however, we must admit,
that so far as the market has been tested
Except for few speclalties) it is lower all
round than it was month ago. We make
some alterations in our prices current to ac-
cord more nearly with actual values.
American advices do not help us much as
yet as regards the prospects for next crop !;
but another month will no doubt give clearer
indications on this very important point.
Some Of our correspondents have lately as
sured us that the make of stripts would not
come up to the early estimates. This will,
however, we Suppose, Depend very much on
the prices that may rule for the rest Of the
season. Our advice to stemmers would be
to rest content with their present purchases
Of what we may hope is fair stock rather
than increase their holding Of inferior to-
baeco simply for the sake Of reducing aver
age cost. The weight Of heavy import
will pull down the value Of good as we'll as
common tobacco, and we think, under any
circumstances, our markets will be suffi-
GENTLY crowded.
We will not venture any opinion as to the
probabilities OF peace or war in Europe.
Should war unhappiy break out in the
next month or two we do not see that it
would have any effect on our market eX-
cept indirectly in the inducement it would
give to larger planting Of cereals in the
place OF tobacco.
The advance OF the bank-rate from two
to three per cent. is rather an indication Of
precaution than actual necessity, arising
from internal demand or foreign drain.
The American and Continental Exchange
are in the direction Of import instead Of eX-
port OF gold. Political uncertainties still
hinder trade, and money is abundant on
this account. Gold is required for Ger
many, and its Withdrawal may again affect
the rate: but the question OF peace or war
is the main point of consideration, and
should the present agitation end in peace
full solution we may expect to see an i'm
petus to trade and speculation which would
absorb much Of the uninvested capital
waiting for such use.
Quot0tionS.-Virginfa Leaf: Common to
middling, 81 to sd. q d.; fair to good and
fine, 81 to 73d. % d.; bright fancy, 6s to 8
and 1Od. q Il. Stemmed: Common to mid
ling, 5 to I'd. % h.; good to fine and colory,
u to 10d. q b., and nominal.
Western Leaf: Common to middilng eX-
ports, 3 to sd. q b.. good to fine exports,
81 to I'd. q n. sound dry common, 8 to 4d.
q H.; middling to good, AZ to 63d. q B.;
fine and colory, SD, and nominal. Stem
med: Common to middling, A to 6td. q
b.; good to fine parcels, to SD. q h.;
bright Kentuky river, 8 to 10d. q b.
Maryland and Ohio s, So, and 93d. % h.
Negrohead and Cavendish 6, -, and 1Sd.
a Ii. JOHN K. GnLIAT & CO.