March 2, i88 S .J THE TROPICAL AGRICULTURIST. 



C67 



consumer has ever felt the benefit. Low rubbishing stuff 

 is bought here to la) down at Gil. to 7d. per pound in bond 

 for mixing with Indian leaf. Apparently consumers are 

 taken in by what is known as the 2s. canister, but those 

 at home who have relations residing in China generally 

 gel their few packages direct, and say it is impossible to 

 buy such tea in England. The best Congou can be laid 

 down in London for 2s. ml. per pound, duty paid, and it 

 uumixed with Indian leaf nothing can beat it.— M. and G. 

 Express. 



♦ 



COFFEE AND CINCHONA : REVIEW FOR 1884. 



A DARK RETROSPECT REGARDING COFFEE— LARGE STOCKS- 

 CAUSES OF LOW PRICES— SCARCITY OF GOLD AND OVER- 

 PRODUCTION — ENORMOUS DELIVERIES FROM BRAZIL— BRA- 

 ZILIAN SYNDICATES- THE FAILURE OF THE O. B. C. AND 

 CEYLON COMPANY LIMITED— RISE AND FALL IN PRICES— 

 COLORY COFFEES— CROPS IN JAVA, BRAZIL, &C— IMPORTS OF 

 CINCHONA BARKS— PRICES OF QUININE— GREAT INCREASE IN 

 SUPPLIES OF BARK FROM CEYLON AND DIMINUTION OF THOSE 

 FROM SOUTH AMERICA— BREAK UP OF THE QUININE SYNDIC- 

 ATE—FLUCTUATIONS IN PRICES— THE FUTURE OF BARK AND 

 QUININE— PROSPECTS OF NEW AND OLD PRODUCTS IN 

 CEYLON. 



Coffee and cinchona are very lengthily reviewed by 

 Messrs. Rucker & Benoraft as to the movements 

 of those articles and their position in 18S1. We need 

 scarcely say that the retrospect is by no means cheer- 

 ful, especially as regards coffee, the stocks of which 

 at the end of the year were the largest on record, 

 there having been a surplus stock for four conseut- 

 ive years. The figures for European stocks at the 

 beginning of this year were 1S6.050 tons. Scarcity 

 of gold is suggested, in addition to over-production, 

 as the cause of low prices, but we think over-produc- 

 tion on the slave-cultivated lauds of Brazil need 

 alone be mentioned. The deliveries of coffee in 1S»3 

 having been " enormous," lowered stocks and better 

 prices were expected, but the actual result in the 

 first month of 1S84 was very disappointing. To quote : — 

 During March a great fall was established in Coffee, and a 

 great victory was won by the '■bears" on the terminal 

 markets. European .stocks on the 1st of March were re- 

 turned at 207,600 tons, showing an iucrease since January of 

 21,500 tons, and showing a surplus of 50,000 tons as compared 

 with the previous year. The Brazilian syndicates found 

 circumstances too strong for them, and their enemies 

 naturally played a winning game with great confidence. To 

 those, like ourselves, who only take an interest in Coffee 

 from the planters' point of view, it cannot be a duty of a 

 pleasurable character having to chronicle all these details re- 

 garding the transactions of speculators on the terminal 

 markets. Terminal markets, however, exist, and it is imposs- 

 ible to write anything about Coffee without constantly re- 

 ferring to them. In the long run, no doubt the actual beau 

 rules the market, but the influences of the terminal markets 

 exaggerate and distort every natural movement. 

 The record for April is : — 



Yet again a heavy increase in European stocks, 217,100 

 tons being now the figures recorded. Three months' bad 

 trade, with rapidly falling prices, practically destroyed all 

 hope for the more immediate future of the article. The 

 deliveries for the three mouths had only been 78,400 

 tons against 127,400 tons in 1883, a fact which seemed 

 altogether to knock on the head the hope that the 

 heavy deliveries of 1883 would be maintained during 

 1884, The great success, which had attended the "bear" 

 movement, was a complete surprise even to those who 

 bad started and nursed it, the statistical position having 

 assumed a far more unfavourable appearance than had 

 been anticipated. The failure of the Oriental Bank, and of 

 the Oejlon Company increased the feeling of depression and 

 the produce markets began to attract an amount of atten- 

 tion anything but pleasant, owing to the rapid fall in Sugar, 

 floe and other articles 



In May th6re was a rally, anil the deliveries were 

 the heaviest during the whole year, while Rio coffee 

 ceased to be sold at 8s. to 10s. per cwt. loss, anil 

 Plantation Coifees, which had experienced a heart rend- 

 ing fall, middling Coffees being quoted at 61s to 65s, against 

 77s to 82s in January, became held with great firmness, and 

 rose in value. 



But prices again gave way. Juno was a dull Hit 

 month. Of July it is recorded : — 



Early in the month another panic took place in Havre 

 and 40 francs was quoted for good average Santos, against 71 

 francs at the beginning of the year. On the terminal 

 market in Havre 10,656*000 bags good average .Santos were 

 said to have been turned over from July 1st, lts83, to June 

 30th, 1884. We reckoned this equal to about 12,787,000 

 cwt., and making the cost, at 50s, we got the extraordinary 

 figure of £31,967,500. In this month a large fire took place 

 at New Crane Wharf, and about 1,800 tons of Coffee were 

 destroyed. This produced a demand from the home trade, 

 and Coffees suitable for that trade rose 3s to 4s in value. 



Towards the end of the month markets hardened up a 

 little, but prices were all lower than at the commencement. 

 Good average Santos in Havre 50 francs. 



August. — This month will be remembered as the month in 

 which Europeau stocks totalled 226,300 tons. Such a stock 

 had never before been accumulated, and we very earnestly 

 hope it may be many many years before it is so again. In 

 December, 1882, Kio Coffees touched 28s c. k f. for ordinary 

 firsts. In August, 1884, stocks were 22i. r ,300 tons. We be- 

 lieve both these dates will long be remembered by the Coffee 

 trade. We hope that the events they chronicle will not 

 occur again in this generation. 

 September was not much better : — 



And with the exception of Plantation Coffees, (a trade now 

 of almost a retail character) the end of the month saw quot- 

 ations all lower. Good average Santos 49'50 fraDcs. 



October. — A month of great depression, in which the 

 quotations of Coffee were at about the lowest. 

 Middling Costa Rica ...50s against 67s at the com- 



mencement of the year 

 Middling Guatemala ...52s „ 6fis „ 



Good ordinary foxy Guatemala 45s „ 55s „ 



Good Channel Rio . .40s „ 56s 6d 



Good average Santos in Havre 48 francs „ 70 francs ,, 



Good ordinary Java in Holland 26J ceuts „ 35i cents „ 



Importations kept steadily behind those of tin- previous 

 year, but deliveries were also iu the same ratio, so no progress 

 was made as regards stocks. 



Iu Europe and the United States, during the nine months, 

 80.000 tons less Coffee had been imported as compared with 

 1883, and yet stocks in the two countries were 23 ,740 tons, 

 against 234,287 tons at the same time in 1883. Our Europ- 

 ean stock alone wis equal to 5 to 6 months' consumption, 

 the current Kio crop continued to give heavier receipts 

 than had been expected, and a promise of a large 1885-86 

 crop was generally expected. Only those who follow the 

 article closely can realize how excessively disappointing tin- 

 course taken by European stocks has been, and though 

 ably much sound work has been done behind the scenes, still 

 so little palpable effect, after so many months, h is upsi i all 

 calculations. Good average Santos in" Havre 48 francB 

 November gave somewhat better results, but D comber 

 was a very disappointing month: — 



In the first place as regards the current F. 

 is generally allowed that 3,500,000 bags will be shfppi d 

 at the least, this being .the maximum estimate put for- 

 ward originally by our friends. One large house talks of 

 3,750,000 bags export. Santos, instead of given 2,000.000 

 bags, will now probably give an export hardly Kiiib i tl 

 la6t year, say about l,900,n00 bags. 



The following quotations show roughly the result of the 

 year's work : — 



Fine middling Plantation 

 Ceylon . . 78s to 84s against 87s I 



Middling ,, .. 65s to 68s „ 77s to 82s. 



„ Costa Rica . . 53s „ 67s 



„ Guatemala . 54a „ 66s 



Good ordinary foxey 

 Guatemala , . 48s „ 



Good Chanr-el Rio, e & f . 41s 9d „ 56s 6d 



Good average Santos in Havre 62 francs „ 70 frc, 



Good ordinary Java ia Holland 29 cents 



35} ct, 



