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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 :

Increase. Decrease. 1886.

1885. 1886. 1886. Receipts,... .bhds. 127,595 143,991

16,396 Sales, 27,995 40,035

12,040 Exports,.. 124,632 131,732

7,100 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 högsheads.)

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. Prices from January 1, 1886, to June, same year :

Light.

Heary. Lugs,...

51 @ 61

6+ @ 77 Common,

71 @ 8

8 @ 81 Medium,

87 @ 91

89 @ 94 Good,

94 @ 10

10+ @ 11 Fine,

101 @ 111

111 @ 13 Selections,

12 @ 13

14 @ 16 Prices prevailing during the remainder of year 1886 :

Light.

Heary. Lugs,...

3 @ 5

4 @ 6 Common,

5 @ 6

67 @ 71 Medium,

61 @ 9

8 @ 91 Good,.

9 @ 10

10 @ 11 Fine,...

104 @ 11

114 @ 13 Selections,

111 @ 13

14 @ 16 For the sake of comparison, the quotation of prices in 1884 and 1885 are appended :

1885.

1884.
QUOTATIONS.

Light.
Heary.

Light. Heary. Lugs,... 54 @ 61 61 @ 77

71

88 Common,

17 @ 8
8 @ 81

81

91 Medium, 81 @ 91 84 @ 98

9

10% Good, . 91 @ 10 101 @11

10 Fine, 104 @ 111 114 @ 131

11

124 Selections,.. 12 @ 13 14 @ 16

12

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

To Manufacturers. Jobbers. Export. Speculators. Total. 1886,....hhds. 12,791 1,699 13,456

59 27,995 1885,.

16,755 2,238 20,358 684 40,035 Destination of Exports.-From New-York for 1886, (also 1885,) the destination of exports is shown in the following table : 1886. 1885.

1886. 1885. Great Britain,... hhds. 21,797 21,099 Mediterranean,

689

292 France,

16,322 15,779 | Italy and Austria,. 20,776 24,758 Bremen and Hamburg, 23,810 27,013 Other ports,...

6,420 5,975 Antwerp and Holland, 16,021 21,864 Spain and Portugal,.. 18,797 17,089 * Total, ...... 124,632 133,869

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

111

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:

1886.

1885. Receipts in New York,. .cases, 69,732

79,050 Sales,

98,395

84,841 Exports,

43,986

46,957 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 : 1885. 1886.

1885. 1886. January,....cases, 4,750 3,498 August, ....cases, 9,184 14,048 February,

7,971 4,790 September, 14,200 18,686 March, 3,073 6,647 October,..

10,232 7,020 April, 2,507 5,657 November,

6,372 7,455 May,

5,615 6,500 December,.. 4,583 5,012 June,

9,682 9,353 July,.

6,672 .. 9,729 Total,..cases, 84,841 98,395 As is usual, the heaviest transactions occurred in the early fall,

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

Manufacturers. City Trade. Out of Town. Export. January,

1,600
1,100

500

298 February,

1,900
1,100

990

800 March,

2,300
2,400
1,747

200 April,

3,000
1,200
1,684

373 May,

2,500
2,000
1,700

300 June,

4,000
3,400
1,578

375 July,.

4,500
2,500
1,929

800 August,

6,700
3,500
3,352

496 September,

4,000
9,586
4,500

600 October,

2,000
1,800
2,020

600 November,

2,450
2,680
1,872

453 December,

1,800
1,700
1,262

250

36,750
32,966
23,134

5,545 Total,...

98,395 cases. The above figures exhibit an export of only 5,545 cases, whereas the figures previously given indicate exports of 43,986 cases. This 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

1886. Germany,

.cases, 26,428 | Other European ports,..cases, 193 Holland, 3,584 West Indies,..

498 Gibraltar,

6,933 South and Central America,.. 314 Belgium, 3,375 | All other ports,....

186 Great Britain,

2,030 Denmark,

445

Total,...........cases, 43,986 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.

New Goods.

Old Goods. New England,

13 @ 25

13 @ 18 Pennsylvania,

98 @ 18

9 @ 15 New-York,

12 @ 15

84 @ 101 Ohio,

54 @ 9

8 @ 13 Wisconsin,

8 @ 121 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 :

6 @ 9

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Stock, January 1, 1887,.... bales, 48,683 100 494 54 49,331

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 :

Yara. Sales of Spanish tobacco for the year 1886,..... bales, 44,800

605 Same time, 1885,...

45,500

1,150

Havana.

COMPARATIVE STATEMENT OF MONTILY 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 :

1886.

1885. Tobacco, .lbs. 5,267,222

5,970,092 Snuff,

122,431

107,022 Cigars.... .number, 850,945,895

822,484,143 Cigarettes,..

638,833,020

544,753,300

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