The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-09-15
John X. GiIIiat d CO.'s Circular rs 90
Tobacco.
LONDON, 4 CROSBY SQUARE, f. CO.
us~Ir. 4 1901

LONDON, 4 CROSBY SQUARE, +. CO.
September 1, 1881.
Sir,-Our market has undergone an i'm
portant change during the past month,
After a period Of prolonged depression we
have at last seen a revival Of activity, which
is refreshing to merchants, as no doubt II
will be TO shippers, who have looked on pa
tiently for months past while we have been
unable to ~ them comfort either by sales
or encouragement for the future.
The earlier cable reports OF drought had
but little influence on the market bnt aS
these wer0soon backed by instructions to
withdraw stock from sale, and orders ia
buy, a stronger tone was manifested, and
prices for low grades, which were chiefly
in request, quickly advanced, until it be-
came impossible TO fad a sound filler at 3D.
Some considerable orders at or about this
figure are still untitled, and as we now put
our lowest prices for fller.strips ct 81 moth
ing more is likely to be done in purchase:
for speculation.
1t is impossible to say what amount Of TO.
bacco changed hands last month, or to what
extent the trade have participated, but 50
far we cannot find that manufacturers have
been free buyers. A large proportion OF the
best stock appears to be "off the market
and so prices for anything above the filler
and low-medium grades must be regarded
as somewhat nominal; but we. raise on
quotations Id. all round for strips. Missouri
leaf has been sold In small quantities here,
and good wrappery parcels may be worth
to-day sad. to std.
Early in the month some large sales OF
Virginia bright leaf were effected at full
prices, but all this stock is now held at an
advance. Some mixed parcels Of dark
strips were taken for speculation. Good
qualities are very scarce, and will no doubt
command higher prices.
Our CORES pondenee and latest cable adj
vices, representing crop prospects at least q:
bad as in 1874, afford ground for believing
that at last holders may have their turn, and
be able TO realize a good profit on tbeiI
stock. But it is well to remember that We
are at present far removed from "starva,
ton -; that we have on the whole an infe'
rior stock to deal with, and, what Is OF most
importance, we have a bad harvest and H.
creasing agricultural distress, and cOnse,
quently a depressed state OF trade In the
country. Tobacco manufacturers must
suffer with others, and an advance In prices
at this time will make business difficult fol-
them certainly 1t viii have the usual re-
suit OF increasing the use OF substitutes,
which will be forthcoming from some quar-
ter Of the globe. Shippers will no doubt
give due weight 10 these considerations,
and not impose impracticable limits OIL theil
merchants.
We refer to our annexed statement oil
stocks and quotations, again observing thai
our fgnres Ia some cases must be taken al
nominal. 81.
Quotations Virginia leaf--Common Il
middling, 4iQ5d; fair to good and tine, "a
0st; bright fancy, 7t@1Id.
Virginia strips-Common to Middling, 81
CIT; good 10 fine and colory, SCOT anC
12d. $50 ~
Western leaf--C0mmon 10 middling ex
ports. 4@5d.; good to fine exports, 5t@7d.
sound dry common to mlddling. 4405d.
fair 10 good and tine, i4i@et; cOlory
i7@lQd,