Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-01


have increased. bat need TO be very
much more largely so. which is the sem
timcnt Of practically the whole trade.
Very many interior markets have. 20
tho detrimcnt OF Richmond. adopted a
system OF inspection. sampling. and
storage warehouses. while western to-
bacco. so largely used here. forms only q
small part of the local Inspections Sales
and deliveries are made by western
samples and not by reinspcctions here;
hence thcse items do not show TO ad-
vantage.
While the Reggie agents and others in
sist on Richmond samples in their pur-
chasca there are many others who have
uo choice. influence. or rule in the mat
pr. but sell by sample from any and all
markets. Besides this, much tobacco
owned by Richmonds trade and others.
has changed hands i'm bulk from other
markets and has been shipped directly
and never touched this market. This
policy needs correction all of which is
the more conclusive that the loose market
is essential Co The prosperity and activity
and maintenance of the hogshead and
inspection market. IL makes both
INTEREST IN LOOSE TRADE.
IL is TO bo regretted that SO little Of the
fine shipping tobacco made near this
city finds its way here for preparation
Loose sales increased rOundy. showing
that Richmond. which has been so long
financially and as regards tobacco, kind
az clearinghouse and job5ins market 20
carry the surplus stocks Of other markets,
often long held and difficult Of
sale should reach out for more direct
trade and activity. IN THIS respect, how
ever. the local trnde is in far better
shape. with fresher and more desirable
stocks in every grade than formerly
Richmond's tobacco trade. Ike her
water power. needs only Harvesting and
gearing To- make IL the most powerful
and prosperous tobacco market IN the
world. The loose trade brings five times
tho employment and pay that the mere
h0gshead business does The banks and
al other institutions would fare better
with auction sales of loose tobacco turn
ca over daily. drawing planters and all
trade 20 this market
The Tobacco Exchange sales have IN
creased in 1897 and private sales con-
eiderably exceed those recorded In 1896
and If AN made were reported the in
crease would make q very much larger
The new firms who started bust
ness an 1897 were Gentry Moon.
the Montgomery Tobacco Company
and r. H. Mosby * Co. Dis
solutions-R J.. Norris & CO., in leaf.
Discontinued. y. Hickock x Co. manu-
facturcrs. Went into receivers hands
T. j. Neal. Jr. & Co.. leaf; United States
Tobacco Company manufacturers Out
Side. W. Saunders CO., jobbers
failed lately. also. the Felix Smith To-
bscco Company. retailers.
The few firms in the leaf tobacco bust
ness who have failed I'm 1897, or have been
} las successful. have been unfortunately
hurdeued with old stock, unstable at
h.gh rates al which once held so that
losses We're not attributable altogether
I'D adverse business conditions. The
lossened demand for high grade cutters
and substitution OF the lower grades with
unceasing demand is one OF the con-
spicuous changes that caused loss during
tho past year
THE ADVANCE IN PRICES.
The strong competition In the lower
and cheaper grades of tobacco IN leaf and
for manufacturing as we'll as export de
mand during the year, caused d neglect
for d long time OF the finer grades held
over. a. the lower grades advanced.
tho market became more and more ac-
tive. and this. aided by the large short
axe early made known in the western
crop caused advances Ia this market.
Planters and dealers profited by these
larger sales and the average Of trade IN
volume was thereby increased. large
prior surplus stock being held was then
disposed Of which heretofore had no
Quiet. resales soon paid profits, and the
lower and medium grades found fast
consumption.
With this volume Of business did not
come increased profits always; hence
there are many expressions IN the trade
20 the erect that they ala a larger and
more satisfactory business. but owing Ia
many low grades sold, profits were not
as large correspO ndngly, as In previous
wears. Economy and cheapening OF
living have. however. brought satisfaction
equal I'm effect 10 the higher profits OF
former years.
Tho retail trade Of Richmond has made
marked progress I'm all its appointments
and the stores are as modern and as
handsome and well stocked as in any
city OF Ike size.
A very successfully developed new ciga-
rctfe machine was completed by Rich
UUnu valentine " NAhN~ iAit- on Al4fi ma
chlne-under the manufacture OF the
weyanoke Cigar and Cigarette Machine
Company.
The local tobacco supply agents say
they have done a fairly good business.
HIGH MARKET FOR DARK.
Tho planters Of dark tobacco have
found "a fully high market I'm Richmond
with prices advanced over last year from
q 10 90 per cent. in medium and more
common grades. Sun-cured averaged
moro than a dollar a hundred over last
years prices For black wrappers and
fine dark shippers much higher prices pre-
vailed than in 1896 In brights there las
been activity. and in prices a well-sus-
tafued market. with a full corps Of buy
ers always on sales. Medium grades
have ruled high, while. as elsewhere. the
finer grades Of cutters have not been SO
high. and fine wrappers not in such
strong demand The advance in the
lower and medium grades has more than
Offset the decline in finer grades
The inspections Of hogshead tobacco and
stock on hand have constantly decreased
ana were the smallest I'm many years
and the same condition exists as 70 stocks
0f hosshead tobacco on hand. This de-
cline Is due largely 20 the inspection sys-
TEN In vogue in former solely loose mar
kots-to direct sales from then-and "a
the fact that the largely-used western
tobacco on this market does not pass
local inspection. but ~ sold by western
s.,,,fe GA g. ,okap directly 10 the fac