Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-01
yIRGINIA'S STAPLE.
REVIEW Of OUR TOBACCO MARKET
FOR THE YEAR JUST CLOSED.
New Warehouse Built and Many Improve
mcnts Made--Grow;h Of bright Loose
Stakeholder Features.

cause Of pccuiiaritics made necessary In
grouping statistics that only appear 70
advantage when taken as whole. For
example. the very large western tobacco
business done here IS hidden by private
transactions. unreported as consump-
ton OF leaf. the latter going through or
into private warehouses almost exclu-
siveiy. while the larger part OF sales made
by brokers and others TO manufacturers
docs not figure In our summaries. Most
Of such sales are even uninspected. ana
the quantity OF stock on hand Is prac-
tically unknown. Neither does the tax
paid on tobacco. as shown In the revenue
seturns. reveal the secret. for Richmond,
with Petersburg added. is the largest
exporting district IN the United STATES
doing nIne-tenths Of this trade In the
United States 20 that this great export
factor must be taken into account OF IT.
self 10 ensure an approximately adequate
idea OF the magnitude Of our transact
tons In tobacco Then, again, the Rich
mapd cigarette export trade Is very large
and lucrative so that the value In TACT
in labor, In outlay. and Importance or
this branch is underestimated, when
minimum tobacco consumption, with
max mum profit. appears here.
Again. compared with other markets
around us. the Tobacco Trade is con-
fronted with the fact that Richmond
does not count doubly or In scarcely
perccptible degree. by virtue OF resales'
the same tobacco offered over again.
Every relnspectlon OF a hogshead is ac-
counted for and tabusted as such and
not as n fresh transaction, while there
are very few loose tobacco reoferings.
Compiling data before the calendar year
Is ended and within three months OF the.
beginning Of the fiscal year makes n
necessarily incomplete report. so that the
fiscal year ending September 30. 1894. is
included as the basis of calculation.
DARK TOBACCOS.
Loose sales opened rather later than
last year, and low at that November
Gales averaged hardly over cents. De-
cember shows an improvement in price,
only with the offerings Of better grades
wrappers have sold for 5000 to $3.50 re-
spectvely. while Tugs Huctuate, but are
weaker at the Close OF the year. DARK
tobaccos of all grades are lower than
last years annual report by 30 cents TO
81 per hundredweight. Medium TO fair
leaf remains about the same so far as
last year. while fine dark leaf remains as
scarce or scarcer than at that period,
with prices notably higher on the finest.
Our old dark shipping and export trade
has been well maintained. without ma
terial change In Reggie demands. but to-
bacco was later at q lower range OF prices
all around from ! 10 cents per pound
on last years averages: and thus the
Interior shippers and rohanders have been
very much restricted IN profits on de-
clinng and dull market;
The foreign markets have offered the
least encouragement 10 shippers, who. be-
sides this. had many older and higher
priced stocks, In the declining scale and
duh markets 10 contend with, superln-
duced not only by general business de-
preston In all open tobacco markets
abroad, but by the agitation Of domestic
tobaccos ami additional foreign import
taxes in such countries. some OF which
were not without good-sized crops OF to-
bacco within their own borders. asking
legislation. protection. etc. Besides all
this, there was a large western crop "a
compete with. and starting 1894 with our
own stocks OF 5000 hogsheads on hand
the largest since 1858. when II was about
1900 hogsheads. For fine export, the
1893 crop. marketed in 1894. WAS not ~
desirable a. It's immediate predecessors
which restricted business of Itself In guam
THY as well as profits Old stocks nj
present are moderate. mainly nondescript
raj
demand only.
EXPORT MANUFACTURING
Our export manufacturing demand has
been good. and the preference has been
much more given to Virginia and North
Carolina tobacco, which ruled 90 low as
60 accommodate itself TO the low prices
OF western tobacco. largely exceeding the
use of Virginia on low grades. and with
the better grades business has been good.
OUR BRIGHT TOBACCOS.
The decline begun in March, 1893. and
was as well endured as possible. Great
losses were unavoidable. and many still
follow, yet the year 1895 Will find many
dealers IN better condition than they
thought for six months ago. when tobacco
was almost unsi liable. Good wrappers
are giving out fas,. Cutters. owing TO the
fact that the National Cigarette and To-
hacco Company and few other smaller
cigarette firms bought freely, have been
most active and the old and double old
crops are practically exhausted. leaving
very nattering outlook for those who are
ablesto buy and carry what Is permitted
or left by the great cigarette consumer.
the American Tobacco Company. the real
and almost exclusive factor of this grade.
Smokers have been in good demand, as
well as scrap, lately. Common bright NH
ers have been dull. and showed the most
decline.
As generally computed. the 1924 bright
crop ~ about three fOurths OF the ave-
rage, and for darks about the same.
As TO quality. the dark is measurably
good on an average, which estimate in
cludes that 60 come yet. a small part Of
which is called quite fine. The bright
crop shows n fair supply OF wrappers 50
far and Richmond has exceeded In this
respect any other market which our
buyers appreciate by paying good prices.
While prices nave been fully maintained
on other F.ades. such rs cutters, stem
ming. and smoking. Eastern North Caro-
Ina ard South Carolina tobacco par
ticularly have again given this market
an increased impetus in loose tobacco
IN most colory grades. and other States
pre becoming patrons OF our loose ware
houses The oldest and largest pro-
duclng brieht-tobacco belts show a de-
fciency in color in this crop. but with
fair supply OF wrappers only. and
sufficiency OF other grades wanted The
very good prices paid planters for the
1894 crop and the low price OF cotton.
81 is feared will over-s,imulate planting
In 1895. which certainly would not appear
20 the advantage Of either producers or
manufacturers. There Is now a snfh-
cheney In quantity and deficiency In
quality.
LOOSE SALES AND WAREHOUSES;.
Our loose sales are largely increased In
general. Particularly is this so In bright
tobacco. which has been the feature or
the year passed. showing % per cent. IN
crease over las; years sales a
stnl larger increase In lSo ,s'
therefore, confidently expected. Our
warehouse facilities have been en-
iarged by three new buildings. con-
structed on the best models. The South
srn Warehouse. built by Mr.. John Pope.
and occupied by the Davis d Gregory
Company, and the Stonewall. erected by