The San Francisco call., 1904-09-11
THE COFFEE TRADE.
The Brasikdn Outlook and CROP
Damage Reports.

The New York circular of Henry Nordlinger
& co saws strong believers as we are in a
much. higher range OF values 10 come for cOf-
Zee We dc rot Jock with favor upon the re-
cent bull movement largely engineered by spec
ulators. I'm our. opinion this movement IS ILL
tmea a1- sEeula not have been started until
talr psW ~ tho crop had found its outlet
into co1sgnline Countries Brazilisns would
thea not have derived the extraordinary bene-
o., promises 70 be the case now. of Oh
tanning about = per cent more money FOR TIE
lu-h ci Their crop These nGner prices leaFe
q good profit for the planters and Il would
have been much better for the future II a fair
part of The crop had once more been mar
IS now fairly wei under way and Is constantly
,etfirc h-Ca der and Broader SO much so that
opposifi-n % rhe advance fails 10 make more
than an occasional slight impression Il looks
very much as n an old time bull market is
.-Tle advance in price was helped along
by cables from Brazil reporting damage done
bv frost. We would most strongly urge our
friends 70 pay 10 attention Whatever TO such
cables, becaUse hrsrly Il is much too early TO
amount n damage was done % the trees. and
secondly one must bear In mind that hardly
g year passes without the receipt of similar
cables. EreZilians are only too fond of arous-
lur cors1 1srinE markets through damage
ports iur8 1iaEiuE higher prices for their crops
- stated in our report of the lst ultlmo.
frUir if the September Towering. We must
await the extent Of this Towering the char
acter cf The blossoms the weather conditions
prevailing during the towering period. and
then watch the setting % the fruit. before We
prospects for the next crop. Ordinary frost
prior e. the Towering period seldom does much
harm bur there car be no doubt that e
rer- frost Vouid do serious damage. specially
20 young trees. We have so far not received
any information that the thermometer had
fallen as low as that; x Il had we would
surely have received nuulerous cables 50 re-
THE BRAZILIAN OUTLOOK
Entirely 6lsreearding these reports how
ever We are ~ the opinion and this opinion
is basel on Information Of tie most reliable
character. thar the plantations IN Brazil are
not in a condition 70 produce large crops FOR
some years 20 come, and this is the main
reason why have 50 stOutly maintained
Tor months past that the article Is a good
purchase at about present figures and we re-
Teat that orr good oHinion Of the article for
considerable advance spread over a number
q years remains a. strong as ever Never
theiess, We must bear- 81 mind that the ex-
listing stocks in the world are enormous. al
though they are well held and wei financed:
furrherruCre that the receipts al Brazilian
shipping ports are much larger than they
should be ca tie basis OF . 9.0o6 0oQ bag crop.
and arc the means or adding daily t. the SIS
ilie supply existing In tie world These con-
tuQrs % not warrant sharp &C Tance in
price ~ fhe present time Griess some caism-
tty should happen 10 the 1906 crop. which
is now about to enter its biosEomng season.
or The receirts should fail Of suddenly and
lfIcepibly 70 as 70 again strengthen the be-
Lex u very snail crop. which has Of late
become a subject a doubt.
I'm this connection we would state that our
estimate o o.coO.OoC bare for the Rios and
hentos crop remains unchanged"