The quotations above submitted in full detail show the average range of prices in this market in 1893 for Virginia and Burley tobaccos, which are so extensively used for manufacturing purposes, and probably indicate the range for the current year. CIGAR LEAF IN 1893. No account of the domestic or foreign leaf sold in New-York City last year for manufacture into cigars is obtainable, but it is generally asserted in the trade that the quantity was less than it was in 1892. The exports of seed leaf and cuttings in 1893 were as follows: Some of the crops of this kind of domestic tobacco grown in 1893 in Connecticut, Massachusetts, New-York, Pennsylvania, Ohio, Wisconsin and Florida, are reported as injured by drought, hail and heavy wind in the growing season, and a lighter yield than usual is predicted by buyers. The crop when brought to market will probably be an average one in quantity and quality. Under the tariff in force in 1893, and now in operation, foreign leaf tobacco was sold, and is selling, in wholesale lots in this market, at prices as above quoted. IMPORTED LEAF TOBACCO, ETC., Reported BY THE N. Y. CUSTOM HOUSE. A decrease compared with 1892 of 4,482,467 pounds, and $2,069,269 value. CIGARS AND CIGARETTES. Cigars and Cigarettes,... Pounds. 287,256 Value. Less in 1893 than in 1892, in pounds 46,699, and in value $212,586. Other manufactures of tobacco imported in 1893 were in value $26,084, a decrease of $12,468 as compared with 1892. FOREIGN TOBACCO EXPORTED FROM NEW-YORK IN 1893. Less in 1893 than in 1892, 303,510 pounds, and in value $106,710. The foreign cigars and cigarettes exported in 1893 were 1,460 pounds, valued at $4,487. Exports of other manufactures of tobacco amounted in value to $2,589. An increase in pounds of 935,083, and in value of $1,119,329, including all stocks in bond at the same date the last two years. DOMESTIC TOBACCO EXPORTED IN 1893, PER CUSTOM HOUSE REPORT. An increase in 1893 in pounds of 1,363,095, and in value of $607,553. The domestic cigars exported were in pounds 874, and in value $31,761; and the cigarettes 443,304 pounds, valued at $1,204,277. The exported manufactured tobacco was valued at $2,510,678, an increase in the value of the latter of $239,829. The increase in the exports of cigarettes in 1893, compared with those of 1892, was in pounds 122,162, and in value $232,238. Cigars increased in pounds 109, and in value $7,639. The quotations for domestic manufactured tobacco in bond, as reported by a leading exporting firm of this city, January 1, 1894, were as appended : Very common, twelves and fourths,. Good,. Fine,. Common to fair,. Dark. Good, Fine, 20 @ 22 25 @ 40 The trade in this staple possessed in former years is still invisible in this market, owing to internal revenue laws and regulations, and the changed methods of business incident to them. Instead of many in the trade, as there formerly were, only a few remain to continue the record of each succeeding year. A fair amount of business is, however, done each year by those who represent this branch of commerce, as the returns from the Custom House denote. MANUFACTURES OF TOBACCO IN NEW-YORK CITY IN 1893. .No. 142,312,500 574,391,926 REVIEW OF THE WOOL TRADE OF NEW-YORK, FOR THE YEAR 1893. OUR last report reviewed the most prosperous year the business had had for a decade, and gave equally promising prospects for the near future. Starting with the largest trade ever known and with mills crowded with work, the year 1893 has turned out, in sudden shrinkage of business, in commercial and financial disaster, and in long depression of industries, the worst in a generation. The year closes with average prices the lowest ever known, with thousands of men seeking in vain for work, and with charity struggling as never before with suffering and starvation. With this condition of general business the trade in wool and woolens could not possibly escape the universal prostration, and it has had to encounter its own peculiar trials in prospective tariff changes. The legislation recommended as to this schedule by the Ways and Means Committee is more radical than was expected. It has had its legitimate effect in contracting business to almost extinction, and in reducing prices of domestic wool so low that considerable purchases have been made for export to foreign countries, to compete with the free wool of those markets. The year closes without any signs of improvement or encouragement, as there are no indications of prompt action in Congress upon the question of free wool. The debate upon this in the Senate is likely to be prolonged far into the summer, and few are sanguine that any bill will then be passed, its opponents being so determined and its advocates so lukewarm. To go from generals to particulars: the decline in prices during the year has been quite phenomenal-say fully 30% on all grades of clothing wools. The following quotations show this more clearly: AVERAGE BOSTON MARKET PRICES, 1893. These panic prices for the raw material have been accompanied by a corresponding level in the goods market. To-day's values for most fabrics are as cheap as they are in any part of the world. The yield of domestic wool in 1893 is estimated at 365,000,000 pounds, the largest clip ever made. Much of the increase has come from slaughtered sheep, which are 40% in excess of the previous year. The stock of domestic wool unsold on hand in the United States, 31st December, 1893, was 106,362,000 pounds, against 68,354,000 pounds at the same time last year. The stock of foreign wool unsold on hand at the Eastern seaboard was 23,572,500 pounds, against 18,388,875 pounds. The woolen mills of America have hardly produced 20% of their capacity since the currency panic of early summer. This small production for so long a period must eventually be followed by great demand and lively speculation. This is the only encouraging feature in to-day's situation. In foreign wools there has not been experienced so manifest a decline, the market not having had to depend upon the United States, as in the case of domestic wools. However, January 1, 1893, found average combing Australian worth 70 @ 73 cents scoured, which to-day can be bought at 62 @ 63 cents. It is of interest to note the fact that this year the depression in Australian wool has been so great, in sympathy with domestic, that fully 5,000 bales were shipped to England to be resold at better values than could be obtained here. This movement occurred in August when the depression was very severe. The year closes with only a peddling trade in Port Philip and Sidneys, and with not to exceed 10,000 bales in Boston. Of Cape and River Platte wool there are only one or two small lots here. CARPET WOOLS show comparatively little decline, stocks carried throughout the year being of very limited quantity, and the demand abroad being such as to render that already held cheaper than duplicate wools would cost to replace them. Throughout the year manufacturers have bought scantily, except during February and early March. Prices throughout 1893 have held remarkably firm. The year closes with stocks light and with prices largely nominal. Probably not to exceed 20 per cent. of the carpet machinery in the country is in operation, and consequently the absorption of wool is small. Future prospects are more than proverbially difficult to forecast, owing to the financial and legislative problems which, as never before, are now confronting the country. With free wool and 40 per cent. protection on its products, it is the opinion of the most. conservative that the mills could not run successfully, unless at least a year's time were given them on their goods, to adapt new production to the novel conditions. But they are apparently not to have this, if the tariff passes under the present schedule. The whole question then of the prosperity or adversity of the woolen industry, and therefore of that of wool, in the immediate future depends upon the final result in the Senate. Of this it is difficult to form any opinion at the moment. |