132 COFI'EE. 



Based on out-turn weight of 130. 87 lbs. per bag (original weight ,133 lbs. ), cost 

 per pound is equal to (free of brokerage) 15-,^o%o-> cash, as removed according to 

 condition of London credits, i.e., the whole invoice, payable 'fifteen days prior 

 to maturity in London of the ninety days' sight drafts drawn from Eio on.day of 

 shipment. 



As previously stated, the rate of the Brazilian export duty 

 varies every week in conformity with the average of the brokers' 

 quotations of coffee for the preceding week. , 



For instance, on a basis of 424 reis per kilo., or 3$307 reis per 

 bag, the rate of duty would be with 



Good firsts, quoted at Keis 5$000 11 per cent. 



Eegular firsts, " 4$700 12 " i 



Ordinary firsts, " 4$300 13 " 



Good second, " 3$800 14^ '^ 



Ordinaiy, " 3$400 15^ " ■ 



The establishment of cable and steamer communication with 

 Jlio de Janeiro has done much to prevent the market from being 

 controlled by large importers. The Eio telegrams are a feature of 

 the market, and come to the public either through some import- 

 ing house, a broker, or the Associated Press, quoting either per 

 arroba or per 10 kilos. They state the average daily receipts in 

 Kio de Janeiro, give the quantity of coffee purchased for Europe 

 and the United States, the price of good average cargoes, stock at 

 date, shipments to different places, and the cost of exchange on 

 London. 



The true'^method of getting at the copt in United States cur- 

 rency is to multiply the price by the exchange. The result wiU. 

 be in English pence, which should be converted into •American, 

 gold in the ordinary way at the existing rate of London exchange. 

 The brokers, however, get a result accurate enough for all practi- 

 cal purposes by multiplying the price by the exchange, deducting 

 one-fourth of the amount so obtained, getting the free on board 

 cost in Eio de Janeiro, to which must be added freight and 

 charges. Samples of the coffee are placed in a broker's office as 

 soon after arrival as the seller elects, and it is by the broker sold 

 to the jobbers, the seller paying a brokerage of one-fourth or • 

 three-eighths of one per cent. 



