St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-16
THE NEWS IN NEW YORK.
Coffee and Rubber Dealers Fear
a Panic.

New YORK, Nov. 15.-C. r. Flint.
a Southern merchant of this city, has
received the following cablegram from
his correspondent in Rio de Janeiro:
A revolution has broken out here. The
Brazilian armies are in control. The min
istry have resigned. The revolution is for
the purpose of forming a republic.
Messrs. Hard d Rand received the fol-
lowing from Rio de JaneirO:
A revolutien has broken out here. The
Brazilian armies are in control. The minis
Try have resigned. The minister OF marine
has been shot. This is an attempt To eStaD-
Gsh a republic.
Similar dispatches were also received
by Arbuckle Bros. and Joseph j. ODOD-
ohue & Sons. These dispatches were
received about O'Clock, just after the
coffee exchange had closed for the day.
The reports came like clap of thunder
to coffee dealers throughout the city,
who were made acquainted with them
tonight. and are likely to cause serious
trouble on the exchange if confirmed.
While the dealers generally spoke in a
hopeful strain, they exhibited signs OF
uneaSIneSS.
This is the first intimation we have had Of
any trouble of any kind in Brazil Tor year,
said J. j. O'DOnOhue tonight we received
pondenee from Brazil of a rumored uprising
of the slaves in various parts OF the country,
but no hing more was ever heard OF II ana,
since then, the news from Rio de Janelro
has been of the most cheerful character.
Money on the Brazilian exchange has been
at par for more than q year past, something
that had hardly been known in the history
of the country for years past. The
coffee exchange closed this afternoon
with coffee strong at 13.46e bid
patches were received. The new coffee crop
in Brazil is almost ready to be harvested. and
the supply on the market here is conse-
quently limited. If q revolution has broken
out and the ports of Rio Janeiro and Santos
are blockaded, 15 per cent of the coffee SUD
ply of this country will be cut off. This Will
be productive of very serious consequences
throughout the country. When conhrma-
ton of the report is received at the exchange
tomorrow from London, there is likely TO be
an uuheard-of scene on the floor"
William II. CrOssman, of CrOssman
Bros, had not received dispatch. but
had information through correspond
ence from Brazil at very recent date
which gave no hint of even an anticlpa-
tiOn of trouble in that country.
"If the report is tTue,'' said that gentle
man. coffee is likelv to advance to hitherto
unheard-of figures and when quiet is again
restored in Brazil the enormous shipments
are likely to cause panic"
The blockaGing of BraZilia ports at
tending a revolution in that country will
result in the cutting off of more than
three-fOurths of the entire India rubber
supply of this country and compel the
shutting down of nearly all the immense
rubber goods manufacturing concerns
in the United States. as the supply on
hand at present is not sufficient to last
two weeks. In speaking of the possible
consequences of the revolution upon.
Americo n trade. one of the best known
merchants in the city, who imports
largely from Brazil, said last evening
that they might be serious.
THE trade in coffee, sngar and India rub
ber,' be said. will be the principal interests
affected. The total importation of coffee TO
the United States is 60 900, 900 bags. of which
| 3 iOOU, 900 comes from Brazil. 1t is easy TO
see, without extended comment what effect
the cutting off of such an amount OF coffee
would have. / do not think that there is
more than a three-months' supply in the
United States at present. With regard TO
rubber IL might be even more serious.
Thirteen-ffteenthso of the total importation
comes from BAIL. There is at present not
more than enough here to last one month. so
that should the revolution last longer than
that time the effect would be serious indeed
TO those industries depending upon the rub
beF supply. With sugar IL is, of course, not
so bad. as we import only One-tenth OF our
supply from Brazil Still, the absence of
that amount would influence prices through
Out tho country