The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1898-05-23
WILL COFFEE GO LOWER
w. II. CROSSMAN g. BRO. PREDICT
THAT IT WILL.
In their Latest Circular They Discuss
the Visible supply and the other
Elmcnts of Price.

IslllthtS VI Il'ts
W. II. Crossman d Bro. of New
York lay out the coffee situation very
thoroughly i'm their latest circular.
They consider that their estimates
made i'm the early part of the year
fell short of what may be expected
from the brazilian crop. This crop
they think now will not be less than
10000. 600 bags. II must he remem-
bered that in the beginning of the
year. from estimates based upon some
of the oldest established firms in
Brazil were put at not higher than
G,0OO,O 900. so that that estimate falls
short by four and one-haf million
bags.
The reason that the estimate fell SO
low. the circular continues. is be
cause both dealers and brokers are
under penalty of n boycott If they
do not conceal the actual facts. with
view of keeping up the market to
the topmost notch. The fact is that
not only will the crop of 1S91-S reach
ten and Il half millions. but the crop
of 1889 may be at least a million
bags larger than the crop of the DSri-
cd now drawing to a close.
w. II. Crossman g. Bro. assert h It
the chances of tariff on coffee are
very remote. Coffee is not contra band
of war and is therefore safe in Brit
ish and German bottoms. which car
nv the bulk of the Brazilian CROP.
They believe therefore that the pres
ent war can have no legitimate effect
on the price of coffee.
"The deliveries in the United States
for the month of April are likely to
reach a total of about 100000 bags.
the circular continues, (which is
much larger than ever known
for any single month in Europe. The
direct cause for these extraordinary
Withdrawals of the merchandise from
public wharves and warehouses -
which mean either shipments to the
interior or removals from nublic stock
to be stored away in private ware
houses in New York and Brooklyn
has been the agitation of a duty OF
coffee. This idea of n customs du,N
did not emanate from the government
itself. which is discussing means FOL
revenue, but came from the owners
of the coffee who were DESTROYS ci
having the government commence if,
legislation for war. by voting some
twelve to fifteen million dollars Sac
the pockets of these coffee owners
which would have to be paid by con
sumers, without the government dc
irving much, if any revenue, from
| such measure. The whole scheme
as is readily seen, results from Tia,
enormous over production of coffee
of the past two years, the owners o
! the surplus coffee naturally seekins
and desiring some means to recou1
! themselves on the large losses whic
4 have fallen upon the trade, which l
turn are attributable to .over-conf
/ dence in the statements publishes
| from Brazil regarding the crops.
For our part we refuse to believ
| that the present war can have any lie
| ultimate influence on coffee, and -afte
! the present furry is over and inter
ested parties look soberly into III
question, we think that they will al
rive at the same conclusion as we dc
when the current crop commenced
July |, 1891. the value of No. cole
was ~ cents concurrent with maxi
/ mum estimates of 1.50O.0CD bags, On
Wv y lNl' - dii'''''' W '"ih W w we
100000, and yet the price today of Nc
coffee is : cents. On the face Of
can anyone reasonably consider hi
! price to be low?
Notwithstanding the deliveries TO
the month of April in this countr,
are 100000 bags of Brazil coffee, IN
/ 100000 bags Of other growths, III
visible supply for the States continue
b, in excess of 1,000.000 bags Brazil col
fee and 100000 bags Of other growth'
to which must be added some $4,000
bags already bought and in course q
shipment from Santos, Rio. Nictori
and Bahia. All of this must surcl
convince the most inveterate buye
that there is no scarcity of coffee j
the near or far off future, and Will
the worlds visible supply will under
go some changes owing to the heiV
transfers from the visible to the in
visible supplies in this country, w
still adhere to the figures predicted i
our circular of December oath. of tn
probable quantity existing on the Is
of January. 1899. say some 100000
to $4,000 bags"
1t must be remembered, however
that this circular deals eXclusivel
with Brazilian coffee. and that tn
| predictions made refer exclusively (