Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-10-03
TOUCHING TOBACCO.
Excitement In tho Connecticut and Uousa-
tonic-Nailey Market.

SrRINGFIEID. Mass, October The ex-
cltemcnt in the Connecticut and lIousa-
tOnic-Naliey tobacco market Is increasing.
During the past ten days the range OF
prices paid has advanced from 3 TO 3 cents
per pound over the prices current two
weeks ago. The crop has cured In perfect
shape and sales are being made mostly at
from Is 10 80 cents per pound for the en-
tire crop. TO be.delIverei in the bundle.
One sale ut IS cents per pound Is report
ed. Careful investigation indicates that
the situation IL much better for growers
than the most sanguine have expected,
and that a further rise in price Is. pro
bable.
The Nur England Homestead is conduct
ing an inquiry into the actual quantity
OF old domestic. Sumatra, and Havana Leaf
now in tho hands of dealers, packers, and
manufacturers throughout the United
States, aud t. preliminary estimate indl-
Gates that the 1850 domestic crop contains
n. 900 fewer cases Of wrappers than cigar
manufacturers absolutely require during
the current fiscal year, even admitting
that the supply Of Sumatra leaf III the
country is almost double what it is placed
at 10y the trade. The shortage in wrappers
of the present years crop is twice
~ large on most conservative es-
innate. The H0meS'cQishOws that the cigar
product for the year ending January 30.
1888, must be nearly 5000 90, 900 cigars, ex-
elusive Of those wrapped with Havana leaf.
This product Will require 10000, 0O0pOunds
Of wrappers, whereas the 1891 crop. with
which they must be covered, cannot pos
siblv turn out over 30,000,00O pounds OF
wrappers. Hence the 1891 crop IS 10000 10
III. 900 cases of wrappers less than Will be
absolutely required This means that
large quantities Of Sumatra wrappers
must be imported during the ensuing
twelve months. 1t also means that
IN order 10 fully supply the Ameri-
can market domestic growers must
wrapper leaf than they did this season,
This will enable them to increase their
acreage at least % per cent. without affect
ing prices. The present price 81 Sumatra
wrappers 80 to $40 per pound, duty
paid is equal 10 - 10 20 cents per pound
for domestic wrappers. As the COnnecu-
cut and HOusatOnio-Nall crops run 90
per cent. of fine wrappers. 1t Is believed
that the best crops are worth on tho ave-
rage 30 10 50 cents per pound. ana That
even at this price dealers and packers VIII
have margin OF 70 u JO per cent. iUr their
risks and profits.
The Homestead intimates that If the final
results OF its investlgationsd ono more than
bear out the preliminary indications 1t VIII
add another half million dollars TO the
profits of the Connecticut and 1ousatonic-
Valley growers, giving them fully two
million dollars more for this years crop
than they nave received tor the last few
years. The booming in prices has not yet
struck the tobacco-grOwlng sections OF
Central New York, Pennsylvania, ono.
and Wisconsin. but BUYERS are quietly
getting options on crops in those sections
al low prices. Onondaga and Bl.-t lats
growers will take nothing less than 20 TO
% cents for the new crop. Pennsy lvana
growers have similar expectations, but III
Wisconsin the situation IS quiet.