Jan.  I,  1896.] 
THE  TROPICAL  AGRICULTURIST. 
49  i 
THE  COCONUT  OIL  SITUATION. 
Ill  tlie  lliportar  of  October  “28tli  «e  poiiite'l 
out  editorially  tiome  features  in  cumiectioii  with 
tlie  jiositiou  of  coconut  oils  which  seemed  t<.> 
warrant  the  coiiclusiou  that  the  market  for  both 
kinds  would  continue  favorable  to  sellers  during 
the  balance  of  the  year,  if  not  longer,  and  since 
then  the  course  of  events  has  fitlly  coutirmed 
th.at  view.  As  regards  Ceylon  oil,  the  situation, 
as  e.xplained  in  our  [irevious  article,  has  not 
materially  changed,  but  recent  develoi»ments  in 
the  market  for  Cochin  oii  have  lieen  decidedly 
interesting  and  important. 
It  has  come  to  light  that  •within  the  jiast  ten 
days  jiractically  all  the  Cochin  oil  on  the  spot 
has  jiassed  under  the  control  of  two  .strong 
local  houses.  .Small  stocks  are  still  held  by  two 
other  concerns,  but  the  ([uantity  is  compara- 
tively iiisiguilicant  and  cannot  possibly  become 
a disturbing  factor,  even  if  the  ]iarties  were  dis- 
jiosed  to  release  tlieir  holdings  at  |nices  below 
current  guotations.  Hut  they  are  not  so  in- 
clined, particularly  as  the  oil  is  in  demand  and 
saleable  at  full  figures,  and  the  immediate  out- 
look, at  least,  is  a promising  one.  The  nego- 
tiations which  culminated  in  the  acquisition  of 
the  supplie.s  of  Cochin  oil,  as  stated,  were  con- 
ducted sii  ([uietly  that  few  in  the  tiade  were  aware 
of  what  was  being  done  until  the  purpose  aimed  at 
had  been  accomplished.  In  making  these  )mrchases, 
the  houses  in  (piestion  were  guiiled  by  what  they 
deemed  a favorable  opportunity  to  make  a sale 
investment,  ami  since  the  deal  was  consummated 
the  market  has  responded  by  an  advance, 
supplemented  by  increased  firmness.  'I’he  (juantity 
that  changed  hands  and  the  i>rice  paid  for  the 
goods  have  not  been  disclosed,  though  several 
hundred  tons  are  said  to  he  involved,  and  it  is 
surmised  that  five  and  a half  cents  was  the  ligure 
agreed  upon.  What  lends  special  interest  and 
significance  to  the.se  transactions  is  the  fact  that 
virtually  all  of  the  Cochin  oil  due  here  this  season 
has  already  arrived  ami  passed  eithei'  into  con 
siini|)tion  or  under  the  control  of  the  three  or 
four  oi)erators  alluded  to,  leaving  the  market  at 
present  with  only  a moderate  supply.  Further- 
more, the  offerings  from  primary  markets  are 
\ery  limited,  and  prices  there  are  graduall}’ 
haulening.  According  to  cables  received  thi.s  week 
from  London,  stocks  there  are  considerably  re- 
duced, and  it  costs  all  of  six  and  a (|uarter 
cents  to  buy  there  and  lay  down  Cochin  oil  hero. 
Mail  advices  show  that  the  stock  of  coconut 
oils,  all  kinds,  held  in  London  on  the  1st  of 
November  'was  770  tons,  against  968  tons  on  the 
1st  of  October  and  1,1U7  tons  on  the  1st  of 
September,  thus  indicating  a steady  demand  with 
diminishing  receii>ts.  '1  he  imiuiry  for  coconut 
oils,  particularly  Cochin,  has  recently  iminoved, 
and  most  of  tln»se  dealers  who  are  usually  well 
e(|uipped  to  meet  all  requirements  have  liitterly 
been  inconvenicnceil  by  curtailed  sup[)lies  of 
Cochin  oil.  While  this  has  nut  been  true,  to  the 
same  extent,  of  Ceylon  coconut  oil,  the  market 
has  been  seasonably  active,  and  as  .stocks  are 
under  firm  control  prices  continue  steady  and  the 
general  situation  in  that  oil  is  characterized  by  a 
liealthy  tone. 
The  higher  quotations  now  ruling  for  Cochin 
oil  on  the  spot,  aie  therefore  due  partly  to  a 
better  consumptive  fleniand,  combined  with  in- 
creasing strength  abroad,  and  partly  to  the  fact 
that  local  supplies  have  been  concentrated  in  strong 
hamls.  ITesent  holders  contend  that  existing  con- 
ditions justify  still  further  additions  to  cur- 
rent values,  and  there  ate  reasons  for  believing 
that  by  degrees  the  price  will  be  raised  to  a 
point  more  in  harmony  with  the  import  cost.  In 
doing  this  the  trade  will,  of  course,  bear  in 
mind  that,  while  even  partial  relief  to  the 
market  cannot  immediately  be  expected  by  di- 
rect shipments  from  Cochin,  holders  in  London 
are  in  a iiosition  to  s^iare  moderate  quantities, 
jirovitled  they  can  obtain  satisfactory  i»rices.  It 
follows,  therefore,  that  should  the  movement 
here  continue  in  an  upward  direction,  the  limit 
will  have  been  reacheil  when  values  touch  or 
clo.sely  aj)|)roxiniate  the  cost  to  land  the  oil  from 
London.  At  that  centre  the  imports  of  coconut 
oil  for  the  first  ten  months  of  this  year  were 
8, HU)  tons,  compared  with  2,48(1  tons  for  the 
corresponding  period  in  1894;  2,464  tons  in  1893, 
2,70o  tons  in  1892,  o,(f7S  tons  in  1891  and  3,.345 
tons  in  1890.  The  returns  do  not  indicate  what 
proportion  of  this  is  Cochin  or  Ceylon  oil. — -New 
York  DriKj  lic/jorter,  Nov.  25. 
WYNAAU  PLANTERS’  ASSOCIATION. 
Proceedings  of  a general  meeting  held  at  Pootha- 
coolie  Bungalow,  on  Wednesday,  18th  December,  1895. 
Deputation  to  the  Viceroy. — A circular  from  the 
Secretary  of  the  V.  P.  A.  S.  I.  giving  the  Viceroy’s 
answer  to  the  deputation  was  laid  on  the  table. 
The  Honorary  Secretary  stated  that  after  the  de- 
putation to  tlie  Viceroy,  Messrs.  Acworth,  Hamilton, 
Sprott  and  himself  had  met  and  passed  I'esolutions 
to  tlie  following  effect:—!.  That  in  the  opinion  of 
the  deputation,  the  answer  given  by  the  Viceroy  was 
so  far  satisfactory  that  no  further  action  need  be 
taken  until  His  Excellency  had  returned  to  Calcutta 
and  had  sent  in  a definite  reply.  2.  That  inasmuch 
as  His  Excellency  the  Viceroy  had  staled  that  he 
believed  that  there  were  many  Weighty  opinions 
against  the  necessity  of  givi,  g advances  at  all,  we, 
as  representatives  of  the  community,  put  it  on  record 
that  m our  unanimous  opinion  thie  giving  of  some 
amount  of  advance  when  making  contracts  for  Ubor 
was  an  absolute  necessity.  13.  Proposed  by  the  chair= 
man,  seconded  by  Mr.  C.  A.  Mackenzie  and  carried 
miauimously  that  this  Association  endorses  the  actioit 
taken  by  the  Honorary  Secretary  and  records  its 
opinion  that  the  giving  of  some  form  of  advance 
is  necessary. 
TEA  AND  COFFEE  GROWING  IN  ElJt. 
AN  UNSUCCKSSFUL  KXI’EKlMENT. 
The  Fiji  Tiiiten  quotes  a reference  which  ap- 
peared ill  our  columii.s  regarding  a farewell  din- 
ner to  Mr.  Stephens,  eldest  son  of  the  Patriarch 
of  Doloshage,  on  the  occasion  of  hi.s  leaving  Fiji. 
Our  South  Sea  contemporary  says  : 
Mr.  Stephens  will  leave  Fiji  in  the  R.M.S  “ War- 
riraoo  ’ on  3rd  proximo  on  his  return  to  Ceylon,  a 
disappointed  man.  That  ho  should  be  so,  is  only  na- 
tural, considering  that  he  has  spent  about  fifteen  of 
the  best  years  of  his  life  in  this  colony  in  the  en- 
deavour to  grow  tea  and  coffee  at  a profit.  He  has 
finally  abandoned  all  hope  of  being  able  to  bring  the 
enterprise  to  a successful  issue,  labour  troubles  being 
the  chief  difficulty.  We  in  common  with  the  many 
well-wishers  of  the  colony  deplore  his  departure  ex- 
ceedingly. We  understand  that  he  has  been  offered 
an  appointment  in  his  first  home,  Ceylon. 
HFAFMPQQ  e.ssay  desciiliing  a really 
ULnl  ll  L GO  1 genuine  (Ain;  fur  Deafness, 
Ringing  in  Ears,  Ac.,  110  matter  how  .severe  or  lou«>-- 
staudiug,  will  lie  sent  [lost  free.  -Artilicial  Ear- 
qrum.s  and  similar  a])pliances  entirely  superseded. 
Addre.ss  THOMAS  KE.Ml’E,  VicioitiA  Cii.vM- 
cEEis,  19,  Southampton  Buildings,  Holbofn 
London.  ’ 
