The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-01-17
John X. Gsllias a Co.'S Tobacco Circu.
lar.
LONDON, 4 CROSBY SQUARE, +. c., I
January I, 1888.

January i, 1885. }
To ne Editor of the Dispatch:
Sir.-A review OF our tobacco market
during the past year must, we fear, on the
whole he rather disappointing TO holders
Of old stock. The advance established at
the close OF 1881 encouraged hopes which
have scarcely been realized, for although
certain classes OF leaf and strips, both Vir-
ginia and western, sold freely. and no doubt
paid good profits, the demand was by no
means general. and many old parcels re-
main on hand much rs they were year
ago.
The lowest grades OF western strips were
readily sold during the earlier months OF
the year ut full prices, and for medium to
fair parcels there was occasional demand,
business during the month OF June assuIn-
Ing some show of activity; but the transac-
tons included only small proportion OF
those parcels, either OF Henderson or
OweBsboro' factories, for which anything
like top prices were expected.
Holders, however, seemed justified IN
believing that when the poorness OF the
1882 import was made fully apparent by
the autumn sampling, manufacturers would
be more disposed TO turn their attention 10
the old stock, especially OF 1880 import,
tanned much lcafy and fairly useful tobacco.
In tins they have been disappointed. Re-
ports OF the good quality of the new crop,
and OF preparations for a large make OF
strips. would probably have sufficed TO
keep buyers quiet; but 1t is notorious that
other influences have been at work amongst
our manufacturers, TO which we cannot
directly refer, except TO remark that While
no good seems likely to accrue TO any one
from the attempt TO divert the ordinary
course OF our trade, much damage has, we
think. been done to the interests OF many
shippers who have stocks to sell on this
side.
There has been very little Kentucky leaf
of suitable quality for sale in this market
throughout the wear. Burnley OF good color
was placed without difficulty, but some
parcels Of duh. lifeless appearance, and
generally inferior qualify, have hung on
hand. and seem likely TO do so unless sold
At heavy loss. Missouri growth has met
with scarcely any demand here, and not
withstanding the small addition lately made
TO our stock we are not sanguine that we
shall be able to sell at the prices expected
by shippers.
Virginia bright leaf experienced good
demand throughout the early part of The
year, but latterly manufacturers who for
the most part held large stocks have been
unwilling buyers, and the new imports will
perhaps not meet with so ready demand
rs was expected. Prices for this tobacco
must be quoted decidedly lower.
BY this time no doubt all English ship
pers have determined their course OF action
for the present season and the probable
extent OF their business. Prices are
too high. we think, TO justify very
large operations. Stemmers may say
truly enough that our trade cannot expect
to get stock at low cost, and therefore
prices should be maintained, but II the
stock is sent here in such quantity as
largely TO exceed actual requirements, 1t
must eventually be sold at the price that
can be obtained, Irrespective of cost.
The reduction in strips since this date
last year is about 10000 hogsheads, and the
estimated stock to-day OF 29.500 hogsheads
is not very much in excess OF years full
consumption, so that the situation must be
regarded as q fairly strong one. Manufac-
turers, however, in their present temper
are not likely to be free buyers, and own
srs would be mwise to press sales.
QUOTATIONS..
Virginia Ledf.-Common to middling,
vi. W O.u. ptl ppuhh1 A'ai ~ SOON e~HN
fine, Cd. to I'D. per pound; bright fancy,
SD. to I'D.
Virginia StripS.-Common to middliDs
Cd. to I'D. per pound; good TO fine, Sd.
to Odd. and I'D. per pound.
Western LeGf.-Common to middling
exports, Id. to sd. per pound; good TO
fine exports, SD. TO 64d. per pound; sound
dry, common to middling, 45d. to sd. per
pound; fair to good and fine, sd. to 64d.
per pound; colory, I'd. to 10d.
Western StripS.-Common to middling,
Cd. to I'd. per pound; fair to good and
fine parcels, I'D. to sgd. and lOd. per
pound; selections and bright Kentucky
river, Odd. TO I'D. per pound.
MARYLAND and 0hio-546 to SD. and
Odd. per pound.
Neqrokead and CouendiSh-jd. to I'D.
and 16d. per pound.
JOHN X. GILLIAT q Co.