James Madison Papers

Maury Latham & Co. to James Madison, 30 May 1829

Liverpool 30 May 1829

Monthly Tobacco Report

Prices of Leaf & Strips   Stock 30 April 1829 Hhds—7,979

James River d d d d   Imported in May  213

faded. . . . . . – 2½ – 2½     8,192

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ordy sound. . 2¾ @ 3¼ 3¼ @ 3½   Home Trade 307

middling. . . 4 @ 4½ 4 @ 4½   Coastwise 15

good. . . . . . 4¾ @ 5 4¾ - 5   Ireland 96

fine. . . . . . . none 5½   Foreign Export 124 542

Kentucky 2½ @ 4 3 ½ @ 5   Stock 30 May 1829 —7,050

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consisting of 2,245 Va leaf, 4,275 strips, 700 Ky leaf & 430 strips

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179 per Madison @ Virginia

20 per Jefferson @ N. Orleans

14 from Ireland

213 hhds imported

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47 Norway

22 Seville

1 Africa

45 Bourbon

2 Nfland

1 Labrador

2 St. Vincent

2 Antigua

1 Berbia

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123 & 1 Salt Man exported this month

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We cannot notice any material variation in our Tobacco market, though some sales of Strips have recently been made on speculation at a reduction of ¼ @ 3/8 pW; generally however holders will not submit to such terms & therefore we cannot alter our quotations.

The entire sales of the month amount to 676 Hhds, of which there have been to the

Home Trade 16 V. leaf, 224 strips___Ky leaf 103 strips & 2 kds.= 350

Ireland........100 V. leaf 30 strips___Ky leaf___ strips &___kds.= 130

Export..........80 V. leaf, ___ strips 36 Ky leaf___strips &___kds.=116

Speculation.___V. leaf, 80 strips___ Ky leaf___strips &___kds.= 80

The Leaf for Export was very ordinary & sold at 2½ @ 2¾; the Kentucky stem’d principally at 4 c ½, ___the Virginia at 4 5/8 & 4¾, tho’ some sales of the latter were effected as low as 3½ & as high as 5 & 5¾.

In Flour there has latterly been more doing at 31/ @ 32/- for Virginia in bond & 32/ @ 32/6 for Baltimore, Philada & New York. The enquiry has been altogether from speculators, as the Grain markets are steady & rather disposed to advance a little than otherwise. There is however no change in the average & the duties remain as before—13/8 on Wheat & 8/2 ½ on Flour.

Cotton has also begun to assume a better appearance, the good demand we have experienced of late having at last produced an improvement of 1/8 pW this week in the middling & lower classes of all descriptions of American. yours resply.

Maury Latham & Co

Ms (DLC).

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