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REVIEW OF THE TOBACCO TRADE OF NEW-YORK,

FOR THE YEAR 1886.

Kentucky or Western Leaf.-The receipts of this tobacco in the New-York market in 1886 amounted to 103,021 hogsheads. Including 24,574 hogsheads of Virginia leaf received here, the total receipts were 127,595 hogsheads. The receipts of the same tobaccos in 1885 were 143,991 hogsheads.

The sales in 1886 were 27,995 hogsheads, against 40,035 in 1885. The exports in 1886 were 124,632 hogsheads, and 131,732 in 1885. To tabulate:

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As is seen by the above comparisons, the receipts for the past year were considerable less than in 1885. The same applies to sales, and even exports show a decline.

The year opened dull, and continued so for six months; and during this time, quotations of prices were merely nominal. In April a slight revival was noticed, but it was short-lived and did not have the effect of raising prices.

On May 28 the Italian Government awarded a contract for the purchase of 10,200,000 kilos of Kentucky, (equal to about 14,570 hogsheads,) and on June 10, France awarded a contract for the purchase of 5,500,000 kilos of Kentucky, (equal to about 7,850 hogsheads.)

The types required for Italy are :

Kentucky A. Good leaf, 24 inches in length, fine texture, slightly mottled, fired. B. Medium leaf, 21 inches, very much like the A.

C. Common leaf, 17 inches, containing two lug hands.

And for France:

Heavy A. Common Clarksville leaf, 17 to 21 inches, narrow, coarse, good body, and neatly tied.

B. Low common Clarksville leaf, 16 to 21 inches, cigarish, has one luggy hand. C. Poor common leaf, 16 inches, cigarish.

Light A. Good common leaf, 20 inches, very silky, fine texture, light body, solid brown color, cigarish.

B. Common leaf, 15 to 20 inches, fair body, part slightly mottled.

Notwithstanding the buyers for the contractors are located here, they have shown a disposition to buy the required stock in Western and Southwestern markets. Their purchases here were meagre and at low prices, consequently the belief of factors, at the close of last year, that more would be done by Regie buyers in New-York in 1886 than in 1885, was fallacious.

The combination formed about December 1, 1885, to control 1885 lugs and low leaf and raise prices, did not result satisfactorily to

the pool. Both the syndicate and Regie buyers bought heavily in the West, but as the latter succeeded in securing sufficient stock to bridge the chasm, the syndicate ceased buying, and, if a sale of 11,000 hogsheads to the Spanish Regie buyer, which was thought to have been consummated, but for some reason or other miscarried, had been effected, would have at least incurred but small loss. As it is, the syndicate still holds its large stock, and its ability to dispose of same profitably or otherwise, depends on future events. About the middle of the year a drop in prices occurred. This is shown by the following quotation tables. January 1, 1886, to June, same year:

Lugs,....

Common,

Medium,

Good,.

Fine,..

Selections,..

Prices from

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For the sake of comparison, the quotation of prices in 1884 and 1885 are appended:

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As will be seen, prices have gradually declined for the past three years. The sales for 1886 and 1885 were distributed thus:

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Destination of Exports.-From New-York for 1886, (also 1885,) the destination of exports is shown in the following table:

1886. 1885.

Mediterranean,.

Great Britain,...hhds. 21,797 21,099
France,...
16,322 15,779 Italy and Austria,.
Bremen and Hamburg, 23,810 27,013 Other ports,....
Antwerp and Holland, 16,021 21,864
Spain and Portugal,.. 18,797 17,089

'Total, .....

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In summing up it must be said that 1886 was anything but satisfactory, and, in instead of being better, was still worse than the

preceding year, so far as this branch of the New-York tobacco trade was concerned. The drawbacks from which the trade is suffering are two-fold; the stock of tobacco is too large, and the purchasing power is concentrated in the hands of a few men and firms. A remedy for the latter complaint is sought through Congress, by the trade, which desires the tax on tobacco abolished. The former can be remedied by a reduction in production, and factors advise planters to set out only a half crop next spring. The market was characterized by entire absence of speculative feeling during the last half of the year. The Naval Stores and Tobacco Exchange, established February 4, 1884, has been practically wound up, there not being enough business to warrant its continuance.

The stock in inspection warehouses, January 1, 1887, was 38,709 hogsheads, of which there are 28,565 on sale, against 17,832 last

year.

Domestic Cigar Leaf-The year 1886 was anything but satisfactory to those engaged in this department of trade; not so much from limited sales, for they exceeded those of last year, but from the prices realized. The receipts, sales and exports are summarized below:

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The receipts were almost 10,000 cases less in 1886 than in 1885, but this does not signify anything more than that packers of tobacco find it less costly to store their goods in the country than here, and ship direct from their country warehouses. Sales show an increase that would be encouraging if the tobacco had always been sold at a profit, but the severe competition of Sumatra tobacco, 25,318 bales of which were imported, (equal to 4,000,000 pounds of domestic tobacco wrappers,) and which has almost displaced our domestic wrapper tobacco, much of the latter being disposed of for fillers and binders at the prices paid for such stock, unhappily made that the exception rather than the rule.

The effort to increase the duty on Sumatra tobacco has thus far proved unavailing, and the greater portion of it has been admitted during the past year at 35 cents per pound duty.

The subjoined table shows the monthly sales of domestic cigar leaf, with comparisons :

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As is usual, the heaviest transactions occurred in the early fall,

when the new tobacco has been sampled and is ready for use. appropriation of this tobacco was as follows:

The

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The above figures exhibit an export of only 5,545 cases, whereas the figures previously given indicate exports of 43,986 cases. seeming discrepancy is explained in the statement that the difference between 5,545 cases and 43,986 cases consisted of cuttings, and the above figures treat of leaf (or strips) only. There was a decrease in exports of leaf (or strips) of 7,763 cases compared with those of 1885, but the increase in the amount of cuttings exported almost balances this.

COUNTRIES AND PORTS RECEIVING DOMESTIC CIGAR LEAF AND CUTTINGS IN

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The stock on hand in New-York, January 1, 1887, was 15,920 cases, against 17,933 last year.

The following table indicates the scope of prices during the year:

HIGHEST AND LOWEST PRICES DURING 1886.

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Spanish Tobacco.-Trade in this tobacco in 1886 was quite satisfactory. The 1886 crop of Cuban tobacco was backward in curing and was not received here until two or three months after the usual time, and by reason thereof a scarcity of tobacco was caused, which, while not resulting in any considerable advance in prices, made business easier. The subjoined tables show the course of trade at this port for the year 1886:

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The stock on hand January 1, 1887, indicated by the above statement, is 49,331 bales, but of this amount probably 30,000 bales are unavailable goods that have been accumulating for years:

Havana.

Sales of Spanish tobacco for the year 1886,.....
..bales, 44,800
Same time, 1885,..

45,500

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COMPARATIVE STATEMENT OF MONTHLY SALES OF SPANISH TOBACCO IN 1886.

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Sumatra Tobacco.-Trade in this article continued good throughout the year. Prices ranged from $1.20 to $1.80 per pound. There were imported in 1886 25,318 bales, against 25,522 in 1885.

Manufactured Tobacco.-With the exception of smoking and chewing tobacco, the amount of tobacco manufactured in NewYork in 1886 was increased, cigarettes making a gain of nearly one hundred millions and cigars twenty-eight millions. The following is a tabulated statement of the production for the last two years :

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