Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-13
F0RNEW WAREHOUSE
TO ESTABLISH ONE r01 AUCT ON
SALE OF TOrACeO
WILL HANDLE BRIGHT ESPECIALLY.
Company Soon TO BE Chartered-'
subscriptions 10 $4,000 of the
$4,000 OF Stock 10 He Issaed-Bene.
fits 10 BE Derived.
dts 10 he Derived

A warehouse In Richmond where bright
loose tobacco viii be sold by auction 10
now assured, and the efforts and antici-
pations Of years among leading tobacco
men in this city 49, about to be realized.
Ii was estimated that $4,000 capital
would be necessary 70 establish such
warehouse here, and $4,000 of that
amount has been already subscribed by
some of the most responsible manufac-
turers and buyers IN Richmond. Their
support in a monetary way. is enough
of itself to insure the success OF the un-
dertaklng a warehouse for the sale at
first hand OF bright tobacco in Richmond
will he OF untold benefit. Several at
tempts have been made VI late 10 con-
struct and operate such an institution
here but for some reason or other Shey
have all fallen through. few days aga
MIR. f. *. Victor, Of f. K Victor & CO.,
took the matter up and at much personals
sacrifice and with much zeal and laoors
has been able 10 raise about all the CAPT.
tai necessary. The other things Will tols
low. as q matter of course.
TOBACCO MAN DISCUSSES 1T.
A gentleman closely identified with the
Dispatch yesterday:
The company will be duly Chartered
and the business will be conducted by "
Board Of Directors, 20 be elected by thu
subscribers. az soon as the minimum capt~
tai of $1,000 has been subscribed
The new warehouse company expects tor
sell not only dark tobaccos, but intends
particularly to re-c9tabliSh loose sales Oh
bright tobacco in this market, for which
faf, of GItan
1t is a well known and undisputed fact
that the largest market for the sale or
bright loose tobacco is drawing over hair
of its receipts from other markets, ana
Is doing this In many respects at diss
advantage on account of It's railroad con,
nections. Richmond has a direct railway
line tapping South Carolira. az well as
Eastern North Carolina, where the btight-
est tobaccos are grown. and, there
fore, the tobacco can be loaded ac
any point IN those sections ard broashs
without change of cars direct &c the city.
We have here in Richmond a gooc corps
of active buyers, who have n"vcy failed
to attend the sales, and who are willing
to pay fun MARKET prices for all tina
tobaccos which can be brought here.
Anybody who viii take the trouble 10
look at the map can see that RIchmond
is so situated that sne ought 70 be ono
of the biggest tobacco markets In this
country. We have direct railway lines
connecting us with the whole West, and
there Is no reason why We should not
have a market here Tor Burley tobaccos.
The freights from points in Kentucky to
Richmond are not much higher, II enys
than the freights are from the local Poin1S
I'm that State TO Louisville and Cin-
cinnati We have here a large consump@
ton of Burley tobacco. and IL these to-
baccos were shipped TO Richmond and
sold over the hogshead there would be an
active competition for all suitable TOBACCO
by all manufacturers.
AUCTION SALES PREFERRED.
at is conceded by many live business
men in our Trade that auction sales are
J absolutely necessary, to not only hold
( what business we have here, but VIII Ia
| the only means Of increasing II. For
this reason the policy Of the nav ware
house company will be 10 encourage not
only auction sales of loose tobacco, bus
also 10 encourage auction sales OF tobacco
over the hogshead. All prosperous mar
kets I'm this country with the sole
exception OF Baltimore. Md have auction
sales.
THE commission merchan. has great
advantage in selling tobacco oysr the
hogshead that he has al tho huyera
competing together or eacn hogshead,
and ii is a we'll known fact that generally
the highest prices are paid for tobacco
at public sale. Another great advantage
for the commission merchant IA. that No
is In tosition at any time. even months
after nc sale has taken place, TO satisfy
the consignor as 10 tho prices thai have
been paid for his tobacco.
There are also advantage: aocrulng Ia
the buyers which are not Srns. as ono
mans bid at an auction Is as good as am
other mans. the large buyer has no dd-
vantage over the small. and the small
buyer has the same chance 10 NIL ne small
orders and requirements as large buyer
has 20 nh his orders. 1t seems, therefore,
that from the standpoint Of buyer, SELL
err. or shipper OF tobacco. auction sales
are the best and fairest way OF selling
tobacco, which will give to everybody
connected the most satisfaction; BESIDES
they Will save great deal Of time 20 buy
and sell, which Is now wasted by going
from one Office TO another. and by waiting
for turn TO look at the samples.
MANY OTHERS BENEFITED.
But not only to the Tobacco Trade %
this city Will 1t be an advantage for this
enterprise TO prosper. bur II this wares
house company Is successful. IL VIII very
soon have competitors in the field. We
shall build up a large market for tho
sales OF bright and dark loose sales 90
hogrhead tobacco. 1t will put a great
deal Of money into circulation In the citys
which will be or great benefit 10 tha
banks or bankers, which fact has been
acknowledged already by wideawaka
businessmen who have subscribed to
the stock OF this new warehouse companys
II will bring TO this city many farmers
from the South, who look upon Richmond
as pAHle in other sections look upon New
YorkNgho would rather make their pur-
chases here, even If their goods cost theus
as much as they have 20 pay at home.
They will bring their families 10 see this
sights In Richmond and 10 spend a pleas
SAINT time here. This will help the hotelss
boarding-hou restaurants, etc. proba-
bly, the retail stores will be the first tn
reap the advantage Of this movement, bus
It will also bring store-keepers and re-
tail dealers 20 this city. who can bo
reached tnat much easier BY the whole
sale grocer dealer in boots. shoes, hats.
&C.. etc. 1t will give employment 10 our
drays, and IL will help our warehouses,
as we will have 10 store the redried to-
baccos; It will help the transportation
companies. Ii will also make real estata
more valuable here. In short. IL viii help
every line Of business. which is carried
on In this city"