The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-02-27
STIR IN THE RICE MARKET.
The Effect of Direct Importation
What the Dealers Say.

The arrival of the Norwegian bark Hos,
with cargo of 900 tons of Java rice from
Batavia, has created something Of a stir in
the rice market. This is the first cargo of
foreign rice ever brought direct 10 n South
ern port. 1t has frequently been brought
here from New York, in fact more or less
every season, but none direct from aforelgn
port. There are said to be five more cargoes
on the way across-two for Charleston, two
for New Orleans and one more for this port.
The Hos has been ordered here by New
York parties, and the vessel Will be toWed
up to the Lower Rice Mill. where she will
be discharged and the rice milled.
One prominent dealer said yesterday that
there is no cause for alarm in the importa-
ton, as the cargo was not brought here to
bear the market but for the purpose of OBJ
tanning the advantage of the present high
prices OF course the rice will come in
competition with the low grades and with
Louisiana rice, but the dealers generally do
not think that it will deprecate prices as
there is not enough on the way to make up
for the shortage in the domestic article
here, and after the freight, duties,
and cost Of milling are deducted, it cannot
be sold at less, if as low, as the poorer quail
ties of Carolina and Georgia rice.
1t will not affect the better grades, as at
present there is a scarcity of them, and the
bulk of the stock in rough is neld in the
mills and viii not be pounded for some time.
Holders are very stiff as to price and the
stock is mainly held on speculation.
The New Orleans Fjcdgtne says that the To-
cal trade of that city is considerably worked
up over the reports Of the importations
here and at Charleston and other Atlantic
ports that 1.-THE importation of a few car
goes of East Indian rice" it says, would
not of itself excite comment, but rumors
are current that other and larger cargOes
are on the way, and moreover, what is of
more serious import, that foreign goods are
beginning to undersell the home product,
although the parity of prices between
here and London would seem to
be still in our favor. 1t is this
fact taken i'll connection with liberal i'm
ports of so-called uncleaned' rice through
Eastern ports that is exciting the home
trade, the more so that goodstyleS of foreign
rice are being offered on the local market
at 415c. This rice, well-pOsted brokers
claim, would not have paid the full duty on
clean rice, and be handled probably at the
figure quoted. 1t is generally believed by
the operators in rice in New
Orleans that the recent impor
tation Of unclaimed at the lower duty
was really cleaned rice, and should have
paid the full duty of 2Hc per pound,
and an additional 10 per cent. ad valorem.
alleged attempt TO evade the tariff law
The Times Democrat says that protest
has been entered through Mr.. H. Ii. Smith,
Secretary of the New Orleans Produce EX-
change, and it has been numerously signed
by the rice brokers and dealers Of New Or
leans, calling the attention of Congress and
the Treasury Department to the evasion of
tariff laws by rice importers.
"Of recent date" it says, Several large
Cargces of rice have been received at New
York and some other ports on the Atlantic,
to supply a shortage in the home crop.
These cargoes, it appears, have passed
through the custom house under the classifi-
cation of 'uncleanricc, whilet the greater por-
ton of it was really clean This, it is
claimed, is done for the purpose of evading
the increased duty on clean rice. Passing
as 'mclean' the duty is reduced to three
quarters of a cent. With very little work
this rice is prepared for market and sold as
clean Thus far no rice of this kind has
been received in this market