The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-11-17
HOUSTON WHOLESALE MARKET

and grinding is progressing under extreme
iy favorable conditions SO far"
Warehouse deliveries of Brazil coffee In
the United States for the past week
amounted TO 1898 bags. against 1882
the previous week and o6.510 bags CORE
New York alone were 1872 bags, against
l22,l24 bags the previous week.
In connection with fgs the London Gro
Ger says; Although we are as yet only
midway through the campaign the season
Of 19o1-o2 will long be remembered, firstly
on account OF the unprecedently low open
ing prices, and secondly. by reason Of the
large shipments at the commencement. The
cause OF both these features was the
weather experienced throughout the sum
ner and curing season in Anatola The
crop was very early--some two weeks pc,
lore the average-and promised TO be or
exceptionally good quality. But when the
Il uit should have been on the ground dry
Ing the weather became suddenly most un-
fay orable. damp, cloudy days, With a sea-
borne west wind, Instead OF cloudess
Gather with a north wind. The low prices
attracted the attention Of the trade a d6
vaHces on the other side. The later ar
rivals Of the crop, amounting to quite
seven.eighths thereof, have come on the mar
ket In an excellently sound condition. full
| filling the early promise. By the end or
| October all packing practically ceased and
the supply will be normal. This seasons
prices show difference OF los per ewt;
( under those OF last year and 1899. and
are such as usually obtain only Mt the
very end Of season, with shlpments
| amounting 10 1900 skeleton cases, and
also after the bulk Of the sales have been
affected at much higher levels"
Reviewing late DEVELOPMENTS in the COT
fee situation and prevailing conditions. the
Journal OF Commerce hns the following:
During the past month. and especially
within the last week or so, the coffee OK
change has witnessed an amount Of ex.
element and strength II has not seen for
| years Since October 1 prices, as indi-
| Gated by option quotations, have advanced
| about 40 per cent, and It Is this advance
! that has apparently been the main attrac-
! ton for the active outside speculation In
| the market
| ed Leaders In the upward movement. They,
| 1t will be recalled, began buying early in
! the year They have. according TO general
! trade belief. accumulated something like
| LOO 600 bags Of coffee. in contracts and
actual coffee.
The direct cause of the strength is the
news from Brazil of severe damage TO the
new crop-which does not begin TO reach
market In any considerable quantity until
| next July-by drouth. The drouth, 1t Is
| stated. finds the trees In a particularly de-
! bilitated condition as a result Of neglect,
the low prices that have for years been
! current rendering work on the small farms
| Improbable. Similar reports of damage
| have frequently been circulated at this
season during recent years, but they have
| this year come from houses having reputa-
/ ton for utmost conservatism. and they
| have consequently received attention.
! Those who do not accept the rise in prices
| as justified declare the entire specuia Ion
/ 10 have been much overdone, and they
| point to the large supplies as a safeguard
! against scarcity even should the new crop
! prove as small as the majority Of reports
| seem to Indicate
The worlds visible supply on November
! l. 1901. was 1894 665 bags, against 1902
| Ole on November ] last year