OCR Text |
Show Coffee Futures. NEW YORK, Feb. 1. The action of trie food administration in requiring that Importers Im-porters and distributors of green coffee operate under government license caused great uncertainty and nervousness in the market for coffee futures today. In some quarters it was apprehended that this , action was aimed against trading In fu- ; tures or would arbitrarily control prices. 1 A statement from the president of the I exchange that the food administration had no desire to Interrupt business and I recognized the necessity of a hedging market served to allay nervousness to ! some extent, but liquidation was active i during the entire day and there was a very severe break in prices. The open-. open-. ing was at a decline of p3 to 31 points, with the market selling 59 to 70 points net lower in the late trading, touching 8:40c for May and 8.72c for September, compared with 9.0Sc and 9.50c, the recent re-cent high records. Last prices were at practically the low point of the day, showing a net loss of 63 to 69 points! Closing bids: March, 8.07c; May, 8.33c-July, 8.33c-July, 8.53c; September, 8.74c; October' S.SOc; December, 8.94c. ' Spot coffee was nominal. No fresh offers of-fers were reported in the cost and freight market. The official cables reported an , unchanged market at Rio, with Santos 1 spots 50 rels higher and futures 50 to 75 reis higher. Rio exchange on Londan was l-16d higher. Port receipts were 5s -000 bags. |