OCR Text |
Show COf FEE VALORIZATION PLAN IS SUPPORTED BY BIO MONEY ADVANCES NEW YORK, Sept. 27. Announcement Announce-ment was made today by the Journal of Commerce that the financing of Brazil's coffee valorization plan had been arranged. ar-ranged. Bankers and merchants, internationally inter-nationally known and all identified with the cofee trade are named who would advance the money needed, about t"0. 000,000. The bankers and merchants named are located in New York, liou-don, liou-don, Havre and Hamburg. The object of the coffee valorization plan is to. maintain coffee-at a remunerative remune-rative price to the grower by establishing establish-ing a minimum quotation at which it is to be upheld by purchases of coffee on account of the three coffpe States of Brazil, namely, Soa Paulo, Bio and Minas. Interest on the loans made is guaranteed guaran-teed and paid by a tax on every bag of coffee shipped. The three contracting States bind themselves to maintain in tho native markets a minimum price of 32 to 35 milreis per bag of sixty kilos for the first year.- This price is to be gradually raised after the first year to a maximum for 40 milreis. The contracting States bind themselves them-selves to restrict or discourage by discriminating dis-criminating taxation the exportation of coffee of inferior grades, and they further .bind themselves to pass laws preventing the extension of coffee acreage acre-age for two years after January 1, 11)07. |