September i, 1887.] THE TROPICAL AGRICULTURIST 
195 
A fair amount of business was done during the 
m-inth (the reported sales reaching 317,000 bags) and 
prices at the end were 6ift950 per arroba with ex- 
change unchanged. Early in July the estimates of 
the 1886-87 crop were somewhat reduced and the 
probable outturn fixed at 3,500,000 to 3,750,000 bags. 
The month of August opened with Ordinary 1st quoted 
at 5$900 and exchange 21d. During the latter half 
of this month European buyers showed great 
animatioi', and the sales for the month were 
445,600 bags, the price of Ordinary 1st advanc- 
ing to 6$200 per arroba while exchange was 
quoted at 21Jd. September opened with the quality 
wo aro quoting at 6S400 per arroba, and the market 
seemed rather quieter. In the middle of the month 
prices were suddenly sharply advanced, under a 
large business kept private at the time, which ad- 
vance was followed by a slight reaction. The sales 
for the month were 330,800 bags and on the 30th the 
quotation was 7^150 per arroba for Ordinary 1st with 
exchange quoted at 22 l/16d. October opened with 
quotations reduced about 300 rs. per arroba and 
the market seemed quiet, but holders became very 
firm about the middle of the month and prices 
which had declined to 6§550, were advanced to 
7j)050, exchange also advancing to 22 3/16. To- 
wards the end of October it became evident that a 
great "bull" operation was commenced and since 
then the oourse of our market has been steadily 
towards higher prices with only an occasional 
slight reaction. The reported sales in October were 
318,300 bags, and prices had advanced to 7$>550, 
while exchange was quoted at 22. The early part of 
November was rather quiet, but the " bull " movement 
in consuming markets, or, we should say, on foreign 
coffee exchanges, became more developed towards the 
end of the mouth, and the sales reported for the 
month were 438,500 bags, with Ordinary 1st advanced 
to 7i$800 and exchange quoted at 22 3/16. During 
the first half of December great animation was shown ; 
receipts fell off, advices from abroad were stimulating 
and our market advanced rapidly, although exchange 
was steadily advancing. Towards the end of the 
month the market was quieter, but rains in the 
interior kept receipts very moderate, and holders were 
firm. The proposed "bull" movement had further 
developed. In December the sales reported were 
347,600 bags, prices of Ordinary 1st had advanced to 
80500 per arroba and exchange was quoted at 224 • 
Early in January we" called attention to the dis- 
parity between the reported sales and the shipments. 
This was later on corrected by the brokers, who 
have also adopted the very sensible plan of follow- 
ing shipments by sales, where purchasers are not in 
the trade. This action vi ill possibly prevent such 
differences as wc have thought it our duty to call 
attention to. Early in January there were torrential 
rains in both the coffee zones of Rio and Santos ; 
receipts were much reduced, prices advanced and the 
"bulls" were jubilant. About this time estimates for 
the 1887-88 crop appeared and the figures givon for 
Rio were from 2,000,000 to 2,750,000 bags. Ordinary 
1st reached 9$300 per arroba, but there was a slight 
reaction on the 21st, and the market closed at 9$100, 
with exchange quoted at 22 3/16. The reported siiles 
in January were 187,300 bags. Prices declined again 
slightly at tlu commencement of February, and to- 
wards the end of the month tho smartly increased 
r ceipts and less favourable advices from abroad pro- 
duced great quietness in tho market. For the month 
only 110,000 bags wero reported sold, and brokers 
Dad reduced quotations to 8j>600, whilo exchange was 
quoted at 22J. Ilolders showed little inclination to 
sell at tho decline and the quotations wero con- 
sidered somewhat nominal. Up to the middle of 
iUanh very little was doing anil tho quotations for 
both coffee and oxchango snowed no variations. To- 
wards tho ond of the month, however, groat activity 
was shown and buyers seemed crowding onch other 
in their ongerness. Tho reported sales in March 
were :t7:i,;,H() b^s iind the closing quotations wero 
93100 per arroba for Ordinary 1st and 21 11 Kid 
for commercial bills on Loudon. During tho early part 
of April the market was oxcited ; prices rapidly ad- 
vanced and the " bull " attack again became enthu- 
siastic. In April the sales reported were 279,900 bags 
— although a much larger quantity was known to have 
changed hands — and quotations had been advanced to 
10$}700, with exchange quoted at 21 15/10. May opened 
very firm ; there was not so much doiDg during the 
early part of the month, but quotations steadily ad- 
vanced and all sorts of prophecies were made as to 
where prices were to go. A large speculative interest 
was created in Rio and market was " booming." Dur- 
ing the latter part of the month tho market seemed to 
have gone wild ; quotations were almost daily advanced 
and the speculative purchases abroad increased ; the 
more experienced operators are said, however, to have 
quietly relieved themselves of their purchases, and those 
speculators not directly interested in the trade had to 
support the burden of the subsequent losses. The 
sales, reported in May were 355.800 bags, Ordinary 1st 
was quoted at 13$000 per arroba and exchange at 22£. 
Between the 1st and 3rd June prices were advanced 
1$000 per arroba, and as the reported sales to export' rs 
had somewhat exceeded receipts, our brokers declared 
that 50,000 bags reported sold had been resold to 
dealers, and added this quantity to stock. Early in the 
month the first mutterings of the coming storm were 
heard, and this broke in all its fury about the middle 
of the month ; foreign exchanges gave way, increased 
margins were called for, and when not met the pur- 
chases were sold out, and prices abroad were quoted 
at ruinous figures. Bio has kept firm, however, and 
June closes with nothing doing and prices nominal. 
Our usual tables furnish details of the year. 
PUMICE. 
Sir,— In reply to your correspondent, J. K. Gos- 
sain, I beg to say — (1) That Pumice is found in 
any quantity and of various qualities in Upper 
Burmah, the Central Provinces, and Aden. 
(2) That it is largely used in the preparation 
of cement for fortifications, harbour defences, and 
reclamation works. Also by shoemakers and builders. 
(3) Because, in consequence of its peculiar 
hydraulic qualities, and containing gypsum or 
natural sulphate of limo. 
(1) The essential constituents of every good 
hydraulic mortar are caustic lime and silica. 
Hem Chcndea Ddtta, 
Calcutta, July 19th, 1887. 
— Indian A griculturist. 
[The fragments which floated to Colombo from Kra- 
katao were gathered and sold to carriage builders, 
we understood for polishing purposes, in lie u of 
the cuttle fish bones, which are generally employed 
for the purpose. Becent experiments have shown 
that " volcanic glass " when burnt, resolves itself 
into pumice. — Ed.] 
DIRECT IMPORTATION OF INDIAN TEA. 
Some nine months ago a movement was set on foot 
for bringing Indian and Ceylou tea direct to Glasgow, 
and the measure of success which has been achieved 
in the tentative efforts already made has iuduced its 
promoters to believe that it has in it. all the ele- 
ments of succi ss. Today the first consignment of the 
new season's tea arrives in Glasgow by the "City of 
Bombay," and the occasion is therefore appropriate for 
calling public attention to the subject. 
The primary idea of tho inovemeut is to bring 
trade to tho Clyde, between which river and tho 
Ganges three first-class lines of steamers regularly ply, 
and in the matters of transit, warehousing, and sr> on, 
the facilities of Glasgow aro unrivalled. On the other 
hand, the charges for such accommodation in London 
have hitherto been excessive, and the economies which 
might thus be effect ed would, it is contended, be a 
sufficient inducement to planters to market their tea 
here. The following table shows the difference 
between the London and Glasgow charges at a recent 
date on a chest weighing from ICQ to 1901b.: — 
