New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-28
THE PEOPLE TO PAY FOR THE TEA PARTY.
AN ADVANCE IN THE PRICE OF THE LEAP

AN ADVANCE IN THE PRICE OF THE LEAF
EXPECTED ALL ALONG THE. LINE
Drinkers of tea win not be pleased to learn that tho
price Of a grades OF the leaf from which their bey
erage 10 brcwed VIII be advanced from to cents per
pound IN consequence Of the destruction by fro In
Chicago on Tuesday night Of . large proportion Of
The stock held by American importers. George n.
Macy, Of the firm Of Carter. Macy Co., No. 142
PeArl-st, of the mist extensive tea importing
houses in this country, said yesterday that he and
other importers regarded advance Of from to 2
cents pound unavoidable The amount Of tea an
nusly imported TO the United States, Mr. Macy said,
Appropriated 100000 pounds During the last
year the supply has been falling short, while the de-.
mand maintained its average ratio of increase. At the
present time the imports aggregated over 100000
pounds less than usual. One Of tho for this
shortage the reduction OF the supply at the en-
port ports, caused by failures of crops, either COM
pete or partial in several Of the extensive producing
areas. Ordinarily the reduction Of the normal sup
ply, coupled with An increasing demand. would DO
sufficient 30 cause material advance In prices. Prices,
however. had been pretty generally maintained up 30
the present time In Wow Of expected additions to the
stock held by some Of the larger houses.
Tho information at hand, Mr Macy said, was to the
effect that the Central warehouse IN Chicago contained
something over 10000 cases Of tea, or moro than
100000 pounds. This stock was awaiting dIstrt
button when the entire quantity destroyed by the
burning Of tho warehouse 1t was the most extensive
supply held at any point In the country, and was
owned by importers in all Of the larger Cities from the
Atlantic to the Pacific coast. The burned stock was
cargo shipped 70 British Columbia from China trans
ported by rail to Chicago and held In bond there prior
to distribution to the various consgnees. 1t had been
released from bond only day or two prior TO the
fire. and permits had been issued for Its removal from
the warehouse. 1t was while awaiting removal that
It was entirely consumed.
The present supply. Mr. Macy said. was owned by .
comparatively few firms, creating not exactly cor
ner" but concentrating the stock in the hands Of
strong houses that the demand In the future must
necessarily be forcibly fot than If the supply
were distributed among larger number of holders.
All Of the holders appeared to believe that prices
would DO forced upward by the natural relation Of the
demand to the supply, but the few houses owning
stock had been strong holders for better prices for
some time and tfks all the moro reason for ex-
pecting an advance The other importers talked
with on the subject conceded with the views expressed
by Mr.. Macy The opinion was generally expressed,
however, that consumers would not md the contem
plated advance of from to cents per pound great
hardship In view Of the fact however that the adj
may remain IN force for year, or even longer
aggregate loss to consumers viii he considerable ex-
ceedng, it n estimated, 81 100000.
IL q great brew OF tea that Chicago enjoyed on
Tuesday night and teadrinhers all over the country
viii contribute their mites toward paying for It, The
Central Warehouse the teapot tho re department
the brew the fire thai burned up both tea and tea
NOT