The San Francisco call., 1909-02-16
SYNDICATE PLANS
COUP IN COFFEE
Eastern Financiers Hope to
Realize Millions on the
Proposed Duty
Have Hands on Brazilian Supply
and Will Rush 1t to
> America
Continued From Page 1

clique are now busily engaged in Gre
ating sentiment in favor of the duty.
1t is coupled with demand for a duty
on tea. The argument is advanced that
Porto Rico, Hawaii and the Philip
pines. The subject has been presented
along these lines before members of
congress. Furthermore, an active cam
paign has been launthed among the
people of Porto Rico and big public
meetings are planned in the islands at
which memorials will be addressed to
the government asking for the tax
The people of Porto Rico are, of course,
sincere in their desire to secure protec-
from New York, that agents of the
financial syndicate are taking advan-
tage of the situation.
MUST PROVIDE REVENUE
Another argument that has been
called into play points to the govern
ment's deficit for the year. 1t is ar
gued that more revenue must be pro-
vided. and it is urged that coffee and
tea be made to bear the burden. The
coffee trade generally is opposed to
the tariff. The government imposed a
duty on coffee several years ago, but
1t has long been Cancelled.
The local trade has felt the effects
OF the movement since the first of the
year, and the situation has become
daily more acute. The local situation
is set forth with great accuracy by
the brokerage firm of C. E. Bickford
& Co. Their report says in part:
THE arrivals here during January
were about double the quantity re-
ceived during the same period of last
year and fully equaled the average
January receipts of this market. De-
liveries kept pace with the arrivals
and practically all receipts arriving
here prior to the steamer Indiana on
bags received here by this steamer are
this cargo has been sold on samples
taken on the wharf
Prices have advanced from one3
quarter to one-half cent during the
month. the heaviest advance being
made on the medium to lower CLASSES,
which are in shortest supply and in
very active demand, but all classes
and grades find almost immediate sale
at the higher range in values. Since
stocks of Central American coffees in
second hands are and have been for
some months past very small, indi-
cations tend toward an active and heavy
demand for offerings for some months
to come or until needs are temporarily
filed"
BIG JUMP IN FUTURES
With the advance in spot there has
also been jump in futures ranging
as high as 40 and so points.
Records for the year 1908 show that
local firms imported by sea alone 175,-
293 bags of coffee. San Francisco's i'm
ports from all sources average close to
s5,000,000 a year. The heaviest i'm
porter in the local market for the year
just closed was Haas Brothers. the
wholesale grocery firm. William Haas,
the head of the firm, said yesterday
that the trade was opposed to the duty.
There has been some discussion he
said, ''of a duty of cents a pound on
coffee and tea. The possibility, if not
the likelihood, that such a duty would
be imposed has caused unusual activity
in the trade. This condition has ap-
peared in New York and the local mar
ket has acted in sympathy. The talk
of the duty has been based on the ar
gument that more revenue is needed to
meet the enormous expenses of the
national government incident to such
works as the Panama canal, and that
we should protect our insular possess
sions.
The trade is opposed to the duty
We would rather not have it.. 1t will
be felt at the breakfast table, and we
fear 1t would give rise to a number of
substitutes for coffee"