Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-09-12

COFFEE IS VERY CHEAP.
Large Crops and New Fields Are Assigned al
the Cause OF the Low Price.

| Coffee has not been so low for a
great many years. 1t Is way down
| and from present indications will re-
main at the current figures for some
time. The cause Of this decline is as
signed to the large crops in the old
places, and to the many new com
panies which have commenced raising
coffee Our new possessions are in a
manner the cause of the low prices for
they have opened up markets which
We're before but little used
The Wholesale Grocer, a paper pub
lished in Chicago for the trade, in
speaking of the coffee market says:
The coffee market has shown no i'm
proVement and is. in fact, trfle
weaker than it was at the time of our
last report The c. and f. price for Rio
rs is today 5A cents, which is the low
est quotation for n number of wears
The condition Of Brazil naturally
affects the market here, and while a
few buyers are taking hold on the
above-named basis. the spot trade has
been quiet. The New York price for
Rio IS. invoice lots, ex-ship, is 5ss
cents and there have been q few sales
on this basis. Mild coffees Were. never
much cheaper than they are today, the
effect Of the low Brazil prices being
noticeable here. Wholesale grocers
and coffee roaStcrs are daily looking
for crop news, which does not materi
allie. and there are no Indications that
viii justify expectations OF any sharp
upward turn to the market. There is
still considerable talk about the plant
ers neglecting their plantations. and IT
is possible that this may result in
causing Il change in the mark within
the next six months. but the chances
ar" small for any apprcciablc change
III price. owing 10 the extremely Large
worlds visible supply.
.Iessrs +. johnson g Co, ia their
annual circular on the coffee crop,
issued from Rio under date OF July |,
have the following 10 say: The color
and style of the new crop coffees is
satisfactory. but up to the present time
the bean is small. There are however.
good grounds for hoping for an i'm
pruvement in this latter respect. The
Official estimate of the commissarios
for the lS99-l9o0 crop is 1900. 900 bags.
Fer the present we reserve our own
figures. The production OF the Rio
zonc is steadily decreasing and many
older plantations are going out OF
bearing 1t must be remembered also
that receipts depend to a considerable
extent upon price and not on crop yield
(,
i'll how much Of the present crop will
be gathered and delivered here. The
co npatitinn Of the sac Paulo fields IS
vert Fri u& c~d We're financial facil-
iii IS more easily obtained. the migra-
tiCn thither of coffee growers from our
district would be much more active
Our shipments to Europe have fallen
of to one-half what they were ten
years ago. while those If Santos 10
Europe have increased - per cent"
'fhe visible supply OF coffee for the
United States on September 6. was
.1-i.315 bags. as against 1.146.G36 bags
for the corresponding day last year.
The total stock Of Brazil coffee in the
United States on September was
S3U375 bags. The receipts of coffee at
Rio from July 1 to September l
$4,000 bags. as against ESQ.,
900 bags for the corresponding period
last year. Santos receipts July l to
September / We're 1,Ss0,00O bags, as
against 1,334.00O bags for the cores
ponding period last year.
Deliveries during August. 1899. were
S91l mats, of which 5o2S mats We're
Palang. Deliveries during August.
1875. We're 1884 mats. of which 2519
mats were Padang.