Rensselaer Republican, Volume 16, Number 21, Rensselaer, Jasper County, 31 January 1884 — LEAF TOBACCO IN 1883. [ARTICLE]

LEAF TOBACCO IN 1883.

Recently published statistics regarding the leaf tobacco trade of Louisville, Ky., for the year 1883 show a decided increase in volume over any other year, and a correspondingly satisfactory outlook for the future. * /' . . The sales exceed the aggregate in the next largest year’s business, 1878, by 17,872 hogsheads, and are 27,460 hogsheads in excess of the sales of last year. The volume of business is 25,859 hogsheads in excess of the average of the preceding four years, a gain of 41 per cent. A reference to average transactions by periods of years demonstrates that the expansive tendency in the business of the Louisville market is a thoroughly established factor, though in 1883 the rate of expansion has been increased beyond all precedent. The average sales in the four years ended in 1871 amounted to 54,075 hogsheads. The average sales of the four years ended with 1883 amounted to 70,757 hogsheads, showing a gain of 16,682 hogsheads. But the sales in 1883 loomed away above the average, exceeding those of any year by 27,460 hogsheads. . The course of the market in 1883 has been remarkably favorable to the producing or selling interest. The business of the year was languid and tame at the outset, suffering as it did from the depression transmittedf romthelast quarter of 1882, and from the injurious influence of uncertaintv in regard to tax legislation. But courage soon began to assert itself among buyers, and the heavy offerings which began to come forward within a few weeks after New Year’s were taken with increasing avidity. The theory came to be genterally accepted that the tax would be reduced, but also the act would contain a rebate clause to indemnify buyers of manufactured tobacco under the old rates. The final passage of the law in accordance with these anticipation gave the trade an impulse which was both powerful and lasting, and the course of affairs since has demonstrated that, notwithstanding the high cost of leaf, the lower cost of goods to the consumer, which was rendered possible by a reduction of the tax, increased appreciably the rate of consumption. There were occasional lulls of demand during the remainder of the year, but none of much consequence, until the new crop began to appear. The offerings of this crop immediately created the most fa? vorable anticipations in respect to its character, and certain of the more undesirable grades of the old fell into temporary neglect and suffered a decline. This, was soon impart recovered. The prospects for 1884 are very encouraging. There is a crop to market of unexampled excellence and of fair proportions in quantity. “ The general position is such as to afford reasonable guarantees that good prices will be realized, and besides the character of the crop will help its sale materially. Louisville will probably sell as much or more tobacco as in 1883. Her popularity among sellers has steadily increased and extended, and her trade lines are -being lengthened in all directions. The annual report of Inspector Casey to the Cincinnati Tobacco association shows the year’s business in leaf tobacco to have been the largest in the history of the market. Since March 1 there has not been a dull day. The offerings exceed by 24,071 hogsheads those of any previous year. The sales amounted to $9,522,000. Within ten years the business has trebled. The specialty of the market has been the white burley tobacco. The crop of last year contained a larger amount than usual of inferior and common tobaccos. The average price realized per hogshead was $10.84, whiclris highwhen the quality of the offerings is considered.