Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-03-03
TO BUILD UP OUR TRADE.
The Tobacco Exchange Meets ana
the Loose Business IL Discussed.

There was most important ana sig
nifcant meeting OF the Tobacco TRADE
at noon yesterday. 1t was one OF the
largest sessions held on Change I'm many
months, and the question considered was
one OF most vital interest to the market.
The toplc under consideration was the
building up OF the leaf trade OF this city,
and after the object of the meeting had
been explained by President Hancock,
there was a full and free discussion.
Mr.. Shelburne, the warehous man, was
the first speaker. He said that this meet
ing had been called for the express pur-
pose Of Increasing the leaf-tobacco trade
of this city. Richmond should have
GOOD leaf market. Such a thing was
necessary, In order for her 10 maintain
a good storage market Trade naturally
came this way. The best bright tobacco
lands Of the world lay right around Rich
mond. Cities and towns all over tn
country were building up their markets,
and AIr. Shelburne said he believed that
now was the time for Richmond to infuse
new life into the leaf trade, and that Il
could be DONE If only the proper efforts
were made
Mr.. r. r. Crump spoke as a member of
the old committee appointed TO take steps
10 bring about renewed interest in the
trade. He said that the building up Of
the market was an immense undertaking,
and would require patience and hard
work Mr.. Crump was satisfied that
bright tobacco could be raised right
around Richmond He had no special
plan to present. but he averred that the
very best Of bright leaf could be raised
right on the north side of James river.
Mr.. Crump said that he was confid Mt
that by the expenditure Of $3.50 or S2oo0
In planting tobacco right around Rich
mond would place 100000 pounds Of new
tobacco on this market next year.
Major Gregory gave the history of the
work done by the committee TO which
Mr.. Crump had referred. Major Gregory
said that that body had started out with
the idea that Richmond was practically
In the heart OF the best tobacco region In
the world. He gave the experience Of
the colonies in Claremont and around
Suffolk We Ead as fine tobacco lands i'm
the eastern counties Of Virginia as there
were in Eastern North Carolina or any
where else. Major Gregory spoke OF the
distribution OF tobacco-seed, saying that
good results had been accomplished. He
never saw finer tobacco lands in his life
than there were right along the line OF
the 1Ork-klNer fdllrOdd between kiCn-
mOnd and West Point. He thought that
Richmond could build UP her market
If she would encourage this growing Of
the weed around Richmond and explain
To European and western. buyers that
they can secure the tobacco they want
here direct from the planters.
Mr.. James n. Boyd arose to say that
the vital point at issue had not been
touched. Agreeing TO all that had been
said previously, he reviewed the ups and
downs of the market from the start OF
the loose business. and dwelt on the diff
Guilty which the warehouse sellers had 20
contend with in not fully sustaining the
system of enforcing cash payment for
tobacco. collecting the day succeeding
sale, as is done elsewhere. A warehouse
business run on borrowed capital was a
great disadvantage. Live. aggressive.
trained. and successful warehousemen
from other markets should be secured for
Richmond, where all the material existed,
and every advantage but that of CO.
operation among the trade. acknowledged
by everybody. made II more imperative
that this market should succeed.
The matter was also discussed at some
length by Mr.. w. f.. Dibrell and others,
and the meeting resulted in a feeling of
stimulation which will rebound to the
interest of the trade