The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-08-24
roRAcco,s SECOND DAY.

! The Breaks Yesterday were sum "of'
Encouraging, Running the two Day
Sales up to 1000 Pounds at al
| Average of ten Cents per Pounds.
On Thursday, the opening day of th'
tobacco sales here, there were as wa'
stated in yesterdays NEWS AND Observer
only about fifty present.
Yesterday there were about one hun
dred and fifty.
A reporter of the News AND OBSERVER
talked yesterday with prominent Raj
eigh tobacco man, who said that the
offerings for the two days would foot VI
some 5000 pounds.
Thursday they were about 10, 0OC
pounds.
So that the market grows.
The same gentleman said that he est
mated the prospective offerings fol
the season at from 1000, O0O tc
3,000,0 900 pounds, and he thought
the price would average ten cents
per pound straight through. if not
more. He had not heard of any esti-
mate below 2,000,O goo pounds, so that,
striking a medium, there are $3.50, O0C
which will find their way into the pockets
of the farmers about this section within
the next few months
"This." continued the speaker, twill
represent almost clean money to the
farmer, for you must know that, hereto
fore, the merchants have confined their
advances almost exclusively to cotton.
Certainly tobacco has been tabooed, and
for possibly natural reasons. You know
so much cotton enables the merchant to
come pretty close to what he may lend
on the crop; not so with tobacco the
grade-values of which cover such wide
range of prices. So that the farmer
has been discouraged in many in
stance from raising tobacco, and intact
could not do so until he got a little
ahead, which, from one cause or an
other he has now done. Therefore,
the tobacco being brought here now has
been raised in spite OF the fact that nc
advances could be obtained, and comes
to market clear of lien, ready to be ex-
changed for money clean to its owner.
You may see what this means to both
farmer and merchant here"
After this manner this gentleman
continued, and referred to the beginning
of the market here IN 1885, and to its
gradual growth with occasional set
backs, but this season would be the best
of all for the new spirit infused, both by
the experienced warehousemen in charge
and by the interest being exhibited by
outside buyers.
The plucky tobacco men OF Raleigh
are to be congratulated upon the notable
success of the opening sales of yesterday
and to-day. Tie golden weed rolled in
continuously from Wake and adjoining
counties and changed hands to the en-
tire satisfaction of both seller and buyer.
The crop offered by Mr.. W j. Hobby
in the Meadows warehouse yesterday
brought respectively for different lots SO
cents, % 12 cents, 81 12 cents and 30
cents.
With DR.. Jack Meadows and his ware.
house corps, from Louisburg, and Mr..
Mangum and Mr.. Lea, from Durham,
and others (all new accessions from
rival markets) together with the old
regulars Messrs. Love, William
son, Fleming, johnson, Moore, Nc
Gee and Pogue, Raleigh's tobacco
market is destined to rapidly be-
come, what it should be, one of the live
Hest in the State. Let all our citizens
look to their interest and push it right
along.
The North Carolina Manual is being
sent out far and wide, and has been one
of the agencies through which outside
folks have become better acquainted
with the resources Of the State. This is
not the place to make any extended
mention Of the results except to call tG
mind the varied culture to which the
land Of the State is now being put,
markedly about Asheville, Weldon,
Southern Pines, coming more and
more and more daily to the
notice of those abroad The fertility and
versatility, one might say, Of the sol
bring to light every day large profits
from unexpected sources, as for instance
from grapes, and other small fruits
noting, by the way, the $4,000 of profits
on the $50 acres of Mr.. Van Lindley,
near Southern Pines mentioned il
Thursdays NEWS AND OBSERVER. It il
all good news, and the point Of it all is
that in accordance with the views express
ed by the tobacco man above referred to
it is gradually shifting the farming of tht
state from the old basis Of advances OF
cotton, of cotton brought to market, ant
of the proceeds received being turned
over to the merchant as payment of hii
principal and interest.
The deepest note of departure from
the old is struck in the new tobacco i'm
petus, $50, 900 pounds having been thu
sales at Wilson, alone, yesterday, 1876,
900 pounds at Greenville. The Tar Heels
with their dollars, will soon be singing
with the Georgia poet:
| "Its silver here, it's silver there,
It's silver, silver, everywhere!