Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-06-13
TOBACCO PRICES UP, BUT
GROWERS PROFITS LESS
Buyers Estimate That Increased
Cost OF Production VIII Cut
Into 1920 Receipts.
FOREIGN DEMANDS FALLS OFF
Importation to Great Britain Re-
stricted, While Storage Room
Capacity and Foreign Exchange
Discourage Another Shipment.
Tspecialto The Times-Dispa,ch. !

Especial to The Times Dispatch
DANVILLE. VA, June 12.-During
the past tobacco season. lasting seven
months, los. 10000 pounds of tobacco
was handled in this city, this includ
ing the 100000 pounds which were
marketed here in open market.
Analysis OF the statistics which are
included in the annual report OF the
president of the Danville Tobacco
Association, which Is to complete its
business at an adjourned meeting to
he held on Monday afternoon. show
that over 5000 pounds of tobacco is
now held in private and public stor-
age in this city. much of this being
for foreign countries.
The tobscco trade has been inter
ested in the survey of the coming
season as gaugcd by the present
business conditions throughout the
world. The report. drawn by L. @.
Moseley. says:
Foreign Dcmnnd Falls on.
The foreign demand for tobacco is
not nearly so great as 1t was this
time last year. Most of the manu-
facturcrs abroad are largely stocked
at present: indeed. SO great has been
the congestion in England that the
British government was forced to re-
strict importation to very limited
quantity until conditions become
more nearly normal. In Holland the
receipts have SO much exceeded the
capacity of storage that thousands
of hogshcads are stored on the docks
awaiting disposition. In the orient
the quantity delivered has exceeded
the capacity to handle, and shipping
instructions have been cancelled until
provisions can be made to care for
it. The item of foreign exchange is
greatly against their buying more
than their trade demands The con-
sumption of cigarette grades of to-
bacco has very greatly Increased in
Japan and Caina during the past few
years: at the same time. however,
the area for the culture Of tobacco
has been greatly increased
Less Profit in 1920 Crop.
port tt that the demand for the better
grades of Old Belt Virginia cigarette
tobacco will continue for years TO
come, but that on account OF the
tae producers will not make as mucr
money out of the 1920 cop as they
did last year The 1920 crop bids
fair to cost more than did that of
1919. the report states. and the UNI
usual demand for farm labor by the
construction companies las caused
accept the extraordinary high wages
paid for UNSETTLED labor. on this
account. while the planters have
showed an eagerness to put out as
care for the acreage in the Old Belt
has not been increased and that
barring adverse weather conditions
between now and harvest time. the
crop should be in weight just what
IL vas last year.
increases Storage Space This SeRsOn.
Steps have been taken here TO bet
ter meet the congestion of the mar
ket, all Of the warehouses adding
TO their plants. II is estimated that
when the season. opens. September
90. one-thi-d will have been added
TO the floor space. In order to en-
i.ciitc the sclnng OF tobacco here. the
rate of selling has been increased
to 260 piles of tobacco an hour. In
midseason no pile less than twenty
five pounds in weight will be allowed
on the floor and tobacco auctioncd
and taken in cannot he sold more