New-York tribune., 1884-02-04
ACTIVITY IN THE TEA TRADE.
A SHARP ADVANCE AND LARGE SALES.
TALK AMONG THE MPoRTERs-THE BOOM OF 1879
AND ITS RESULTS.

TALK AMONG THE IMPoRTERs-THE BOOM OF 1879
AND ITS RESULTS.
marked advance in the price of teas in the last
few days. and transactions amounting 10 oetwecn
one and two million pounds day at the importers
and Grocers Exchange, have caused sohe eAcr.o in
ment among importers, brokers and dealers 1ne
advance has been about three cents pound anu ~
is believed that there will be further rise. A
leading member of the Exchange said day OF TWO
ago: " IL has been intimated that there is TO DE
another movement like that of 1879. In that year
there was general boom for nearly all merchan.
disc; tea was about the last thing 10 oe anected
and almost the rst 10 relapse Since then the trade
has been suffering from the i'll effects OF that un-
warranted boom. The importatlons last year were
"a OOc 900 pounds of Japans ls.OOO.O00 pounds
of blacks, and 100000 pounds OF green's total
of ca OOO. 600 pounds against 74,6O7 $40 pounds
I'm 1882, 79. .9S3, 719 pounds In 1881, and Sl,746-
4Ol pounds in 1850. Notwithstanding the excep-
tional statistical siua tion Japans have continued
TO decline, and good Japan teas by December, 1ss3
had touched the lowest point on record. The prln-
cpal reasons for this contradictory state OF things
NAV be that lier in the season many interior towns
as far west as st. Paul, had imported more
OF less, and were for short period competitors OF
New-York. This has changed, and the demand has
returned 10 New-iork China teas-Oolongs ana
preens-coming almost entirely into this port, nave
meanwhile advanced in fair proportion TO their I'M
proved statistical position. Japans had to wait i3r
the Exchange before being taken out OF the slougn
of despondency, and their steady advance Is hot
necessary consequence of altered circumstances;
and, in comparison with present prices OF green
teas they are still much below their value Hence,
greens are either too high or Japans 100 low;
In 1870 Standard No. ran mp 20 ~ UocentSS3
from July to September last prices ruled 80 10 70
cents which was considered moderate ana sa1e
value for the season. BY December. last year,
forced auction sales had succeeded In bringing NOM
inal quotations to u 1022 cents, with the larger
blocks in importers hands held at 24dZ6 cents, OF
at a loss on importation of from 10 10 20 per cent
A corner in tea through the medium of the Exchange
would be as undesirable for the future success OF
the Exchange as for the continuance Of the prosper
ity of the trade which, after years of disapp0nt-
ment has only this season begun to reap some tan
gible benefits"
Another importer said: Japan teas have been
going down since 1879, until in December they
reached their lowest point The decrease IN I'M
ports last year of about 5000 600 pounds together
with the increased consumption has started an ad-
vance in prices. Then there is an uncertainty as 10
the amount of stock hand but the importers and
warehousemen have consented to comply with the
requests of the Importers and GTOcers' Exchange
10 give q statement of the actual supply. When
this is done we Will be able to seejus how westand
The years supply reaches tins country nowadays
in three or four months time, and as the arrivals
begin in August the supply, the last years crop,
is positively known aud cannot be changed until
The 1854 crop begins to be shipped from China and
Japan during May quantities cannot reach here be-
fore july or August. All the Exchange as done thus
far is TO absorb temporary nominal surplus;
When the new crop begins TO arrive the demand
will decide whether the prices at which the teas are
now held are high or lOw."