January i, 1892.] 
THE TROPICAL AGRICULTURIST. 
473 
NOTES ON PRODUCE AND FINANCE. 
Indian Tea in Pbanob. — In BEother column we 
rcpro-lnoe a report of (lie first Btatntory luccliuif of 
tne I’alaie Infiien Tea liouece. Limited, which was 
belli at the regiitereil oflice, under the preeidency 
of Mr, U. 15 , fllagor. Wo would call the nttentiou 
of our rcadere lo the excellent work which la being 
done by this company. It ia with cugcct that we learn 
that the company has received but very limited sup- 
port from the niombera of the lea industry, and that for 
tluH reason it is in contemplation to appial for foitber 
anbscriptions, loither to the outaido public or lo the 
Oeylon tea growora. It wonld manifestly bo of immense 
advantage to tho I'.dian tea community to keep, mere or 
leas, in its own bands this enterprise, and utilise it for 
■la own purposes. If it is allowed to drop into the 
hands merely of a circle of shareholders, who may 
wiah to ulilieo it solely for prefit, or into the hands 
of thoOcjlon industry, its special 7 -uison d’etre, namely 
Ihe pushing of the interests of Indian tea only, will 
disappear, and it may ullimalely descend, some day 
into a mere Congou-selling establishment, or, at any 
rate, allogetbor lose its original and much to be de- 
sired character. Wo urgo on our readois — those who 
have been tardy in supporting it — to obtain a share- 
holder’s footing in tho company, either ns debenture 
holders or ns preference shareholders. The Hoard of 
the company ia a thoroughly representative one, tho 
secretary is a gentleman whose interest is altogether 
bound up in Indian tea planting, and should any one 
fail to be satisfied with what is known of tho ocm- 
pany’s work, ho has ouly to present himself at tho 
ofiioos of the company at 138, Leadenhall Street, to 
be furnished with the full iofotmalion regarding the 
whole working of the Paris business from its commence- 
ment to the present time. Our readers will observe 
that the next forward movement of the comtiany is to 
make a great show of Indian tea at the forthcoming 
Chicago Exhibition, an opportunity which, undoubtedly, 
should not be neglected. 
Losses in the China Tka Tbade.— A s many im- 
porter.i of China to» supposed to have been losing 
money for years it can only bo imagined that cither 
mat are not very large, or that the said 
porters can thrive on them. There are now rn- 
mours ID the “ Ijsiiu ” that furlher heavy losses have 
been made in the Ohinn tea trade. Those who know 
most about this business spenk of £750,000 as a mini- 
mum of the amount of loss to be made up between 
now and tho end of the year. It is quite evident that 
the game of Ivsing n oney cannot go on lor ever. In 
tim absence of any other result the present stale of 
aiM should at least lead iusomeiuterestiugiuforma- 
lon being given on the subject of “how to continue to 
trade on reputed losses.” 
Ceylon Tea Salk Days. — The largo supplies 
01 Ceylon tea which have reooiitly been placed 
on tho market have been the means of again rais* 
lug tho question as to wbotber some alteration in 
present arraiigementa oonld not bo made for regulatiag 
supplies. A meeting of tho IV.i Brokers' Association ia 
A*. ^ mday, when the question will bo considered. 
At tne last meeting of the Tea Committee of the Cey- 
°'*i A®“°®''}''°n the matter w«b under consideration, 
and tho following resolution was ndopted Ihal a 
letter be addressed to the chairman of the Wholesale 
ea Dealers Association enquiring if he has any special 
anggestiou to make on ttie aubjeot, and sskmg if it 
woidd tend to lessen the iiressuro if in each week two 
entire day^s were diyoled to Ceylon sales.” As an 
instance of the largo iuorcase, it may bo pointed out 
lat the sales for the ten mouths of the current year 
10 W0*000*lb'*'' 
Tea Sales without Rbsekve.— It used to be the 
us om, when tho words “without reserve ” were 
■ 1 1 ‘’*l*ln8no. that tea was sold intheCnra- 
•’lalo Booms, Mincing Laue, to the highest 
sumplaiula, says the Grocer, have been 
rooci tly of the inoonsiatt ncy of im- 
“P *6''" for sale with the xntiina- 
fo> and yet either attending the public 
sale themselves aud bnying the tea in, or protoctiug it 
by the bids of their representatives. Of course, every 
man has a right to do what be likes with his own. It 
be puts a tea up for sale by public auction in the ordi- 
nary way. and tho bids do not retch the prices be wishes 
toobttic.no one can object to his either withdrawing 
lbs tea or making a higher bid, eillier directly or ia- 
directly ; but when Ihe words “ to be sold without re- 
serve’’ are printed in the catalogue as an inducement 
to buyers to attend tho sale, the buyer has a right to 
expect the importer or bis broker will accept the bigh- 
o-t bid, Bud thus fulfil oue of the conditions upon which 
tho sale is attended and an offer made. There can only 
bo oDO end to such an inconveniont and irregnlar 
proceeding ; buyers will abstain from uttsodiog the 
sales of any broker who mikloada the public by having 
such words printed on a catalogue and does not carry 
them out faithfully. We oau hardly think importers 
have lolly oonaiderod the consequence of adopting sneh 
an ill-advised course, for they cannot wish to drive 
away their best supporters, and that they will assuredly 
do unlesi they maintain the correct principle of 
selling less strictly in accordance with the terms of the 
oalslogur. The reoognised conditions of public sales 
are already drawn Kp almost entirely in favour of 
the seller, and require amendment in several parti- 
culars. In the interests of the importers we advise 
them not to provoke bnyoca in the manner indicated, 
or they may have to consider tho whole subject of 
the public sale conditions, and this, without doubt, 
would nut be to their ultimate advantage. 
Last Week’s Tea ftALSs.— The Produce Markets' 
Revicie says ; — “ There has been a considerablo falling, 
off in the qaautiCy of Indian tea brought forward, 
but tho demand for all good grades remains steady, 
wiili a bardouing tondcLcy in some cases. Woll- 
sclccted teas of any grade continue to meet with 
good competition, and have probably now touched 
the lowest point; they are in many cases cheaper 
than at any lime last season. The excellent vilae 
offering, especially for really good liquoring sorts under 
Is, is sbuwu by tho increasing oonsiimptioo, aud 
although the exports from Calcutta will probably be 
8,000,000 lb. more than last year, molt of this increase 
has already been disposed of. At tho public sales 
39,360 packages were offered, against about 43,000 
last week, of which 3..500 were witbdrawo. There was 
a goo 1 enquiry for all good medium and tine descrip- 
tions at steady prices, while tho finest sorts fetched 
firm rate-. About 20,000 pickiges of Ceylon teas 
were offered at Tuesday’s sale, but the doslers showed 
little inclination to buy, e.xcppt at lower prices, and 
a ruduclion of from jd to Jd was established in 
common to medium teas. A etroiig impetus baa thus 
been imparted to the country demand, and most of 
the tea told has probably already passed into the 
bands of country buyers. Good teas, however, con- 
tinue to bo enquired for at fully lato rates, and for 
fine liquoring Bokoes st from lOd to la Id there his 
been increased competition. The quality of the toss 
shown baa again been disappointing, and it is to be 
hoped it will improve. The arrivals for the week are — 
The‘’Olan Sii olair,” “ City of Edinburgh,” “Dictator,” 
and “ 8cindia”from Oalculta;*' Yorkshire, “Massilia,” 
and “Oian McKinnon,” from Colombo ; •• Sutlej " and 
“Gaekwsr" fiom I’alcutta and Colombo; “Keemun,” 
from Yokohama Shanghai, Foochow, Hong Koiig, and 
Colombo; “Gloiitallocli,” from Shanghai, Foochow, Ilong 
Kong, and Ooh iiiVo; and the “Kadnorshire” from Uong 
Koi'g. Tiio Grocer says : — " Quite a low raugo of prices 
is now Icing established in Indian as well as other 
branches of tho tea trade, and tho only question 
left Undecided is whether the reduced values ruling are 
attributable lo a deterioration in the quality or to a 
feeling of heaviness iu tho market. We sre inclined to 
think lha'; both these facts may ha urged as a reason 
for tho present chenpuoss of Indian tea, which is likely 
lo co'^tinno so long as the plethora of supply exists, or 
at least until importers ooase lo press forwaril their 
oonsiguments to such an extraordinary degree as they 
have dniip of late. As an outcsima of the increasing 
pressure to sell Ooylou tea ou two days of the week it 
IS um’cr stood that a mieting will shortly be onlled’ to 
consider tho eipodionoy of having different arrange 
ments for holding public sales in (he future ” “ 
