Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-08-16
Cosfee and Tea Trade.

Coffee and Tea Trade
The effect of the war in Europe, in pros
trating trade, and Withdrawing purchasers
from the market is in no branch of bust
ness more seriously felt than in groceries.
The London Grocer refers to this release at
length, and speaks as follows Of coffee and
tea:
The sudden and alarming collapse in this
market is almost without parallel In the
records of the present commercial panic.
The export of these articles has always been
the foundation of an extensive and popular
trade between this country and the CONT
nent, and within the past few years it has
been expanded in an astonishing degree.
Moreover it has been kept exclusively IN
German and other foreign hands, who,
being closely connected with the war-hke
measures now approved of across the chan
mel, have in many cases been compelled to
break off all commercial dealings and start
at once for the defense of their ancient
fatherland The consequence of this unex-
pected interruption to business can be but
too easily conjectured. The withdrawal of
large and influential body of buyers at
moments warning and importers eager to
sell the abundant supplies that are pressed
forward in the middle of the season, must
result in the goods being pushed eff at
prices which more resemble those OF
sacrifice than decline. Plantation Cey-
lon, which is favorite description with
shippers whenever they are In the mar
ket), and is very plentiful at present, has
therefore been most severely deprecated
in value, as, besides the reduction that
took place last week, there has since been
another fall of los to Us z cwt; middling
quality, for example, not being now worth
more than about COS. Public sales during
the last three days have been quite sus-
pended, and the quantity sold (by which
the drop above noted was estabished) has
been such meIe trihe that the quotations
we give in our usual place must be con-
sidered as only approximate, and based on
the foregoing remarks.
The american Grocer also discusses the
subject from the same standpoint, and
says:
Already the effect of this depression in
the London market has been felt here in
those coffees coming from the East. But,
fortunately for us, our principal source OF
coffee supply-Rio-is not directly sub
iected to the difficulties presented above,
and hence we have not, and will not have
the fluctuations and depressions In our Rio
coffee market experienced abroad IN other
| kinds. Nevertheless, there is too much d.
| rect business connection between Rio and
Europe for US to expect that this market
will escape the influence.
The tea market cannot be so much af-
| fected by the war, except as the general
| ability of the people to buy is impaired.
| The English tea market has been extreme
| " dull for some time. and is likely so to
| continue while the London merchants and
dealers are quarrelhng over weights and
| tares Our own market is quiet and but
| little influenced as yet.
| Crops and Grain Markets in Eng.
land.
The Mark Lane E'rpress, of July 20,
says:
| The bright weather of the previous week
| has been followed by continued tropical
| heat. The meadows have once more lost
| their green, and those who deferred cutting
their grass with the hope of better gather
| inc have had about half load to the acre,
| instead of a quarter, as experienced by
those who moved early; but the produce is
more like oat straw than sweet hay, and
has been SO denuded of its seeds by waiting
that its quality must be very inferior, and
nearly ali hopes of a second crop have now
died away, The root crops will be serious
lv lessened, and though the early potatoes
have been of fine quality, they have yielded
badly. while the late are likely to be worse
But the corn which has reached maturity
will be gathered in the finest order, should
the weather keep dry, and wheat, we have
no doubt, will be full average produce, II
not more All spring grain must be short,
especially oats, beans and peas. In South,
arm Europe and France they are In full
swing with the gatherings, and the lament
in Hungary is want, not only OF hands, but
| of machines to do so mucE work at once,
II aver there was a season that exhibited IL
its tue light the suicidal and outrageous
character of war, this is the one-the smil
inc but scanty cornfelds being standing
nrotast AGAINST the murderous art; and yet
strange to say, the very countries on the
VERGE of this deadly strife do not show al
excitement in the corn trade equal to Wha
the last week has displayed In the BRITISH
Isles In peace we were the slowest coun
trv To move: and though happily not at wal
ourselves. we have so exaggerated the dlIn
culties of procuring supplies that oul
| Transatlantic cousins Will now ma w
| have exceeded themselves In What we nave
/ hitherto called going ahead. Several places
in the country reported rise OF lOs !
quarter on wheat, in spite OF the mos
favorable weather; but the average scarce
| " exceeds half that amount, ana prices
, must be considered as entirely unsettled
both abroad and at home, till events more
plainly Indicate the future. Much ram Il
due. and should this come during the
gatherings, a heavy rise might be Justlhed
J but why town millers should finally NIX OF
an advance of rs = sack, when some o
them thought IS enough, we must leave u
the depths of their Cabinet Council: :.
The arrivals off the coast since July l.
were 81 cargoes, of which 10 cargoes wer'
, wheat, sc maize, barley, and D miscel
laneous. Business was reported as follows
Flour, 10, 900 bbls, at 26s@27s Cd; wheat
} 81 cargoes in all, viz: Red winter 3zs sag
57s Cd; spring 46s 6d@56s; Berdiansk 4, ~ ~
@54s; Marianopoli 46s@54s; Ghlrka 4 y!
, 54s; Taganrog winter 5ls 1850; Ohnl la
55s; Saxonska sos 9d@52s Cd; Pollsh 90
Cd; Maize, 81 cargoes, at 29sGS6s Ioa
beans, cargo, black, at 35s Cd; Barley /
, cargoes and Y, 900 quarters, at 20 692Ss I'd
oats, Is cargoes, at 2ls 3d@28s. The sales
English wheat noted last week were 80, 81
] charters. at 49s Sd, against 9,36o quarter