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.'¦ft:"..íf. ¦¦ri '¦¦ é tífwinlp Redactor Responsável. • æ1" *-Sà-**??> ¦• ¦-'•»»'.'' Rpdacção, Administração ÍHÍF. ¦R ."';¦''. Rua Camerino 55-57, Río de Janeiro, íi WILEMAN. '¦¦•.•r \. .¦ . -*W7JJ*m

"¦«jj* IleuieRi*'''¦'' "'-ftf v. - A WEEKLY JOURNAL OF TRADE, FINANCE, ECONOMICS, AND SIIIPPINO

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22,000 TONS GROSS M V. ALCÂNTARA MAIL & PACIFIC LINES '*t*sT*T+S THE ROYAL 7^^ REGULAR SERVICE OF MAIL & CARGO STEAMERS. à{7**r*í5/ BETWEEN BRAZIL/EUROPE PLATE & PACIFIC PORTS. K.1S ALSO TO RIVER

THE LARGEST AND LATEST BRITISH MOTOR LINER 44 ALCÂNTARA" ¦»?*•.* iP TONS DISPLACEMEN1 22,000 OROSS TONS32,000 TO EUROPE FROM SIIIIÍOS, 11 lan. 1928 -- FROM RIO, .2.1 Jan. 1928

INFORMATION FROM. •Jl /Á r*m»wÊkwW Si".-* , PASSAGE RATES AND FURTHER JlftflW Ã'âK"V.' *--&^---> c^HBJr I RIO DE JANEIRO SUL Steam Packet Co. RIO CRANDE DO The Royal Mail VIÒTORIA ' SANTOS BAHIA J|ljB--^i-'--*99< The Pacific Steam Navigation Co. PERNAMBUCO SÀO PAULO

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'. "LocemotlYa" ¦\ Marca Registrada l^w,

WATBB PROOF CANVAS aotpgoor. FOR ÂLL PÜRP08E8 AWNINQS, HATOH CQVERg, SAIL8, TEyiTB, f QAT qOVgBg, RAILWAY WA99QN OQVERfl, ÇA&T QQVgSB, TftMWA» BLIKDB, MOTQR-OAB HOODS, SUNBUNP9, FILTEBS for 8ÜGAR FAOTOBIE8, ITO^

MANUFACTURED BY

»:¦ The São Paulo Alpargatas Company

SOLE SELLING AGENTS EPWARD ASHWQRTH Ã QQ. BUA *. 8EHT0, 26. gjjg SJS, RIO DR JANglRQ. SÃO PAMIsPPAHIApoeto intm Rua do Carmo, 13Rua Portugal, 5-1/ Anciar Rua doa Andradas, 259-MI CAIXA 559 CAIXA 43 CAIXA

Booth Liné, Liverpool %& *a Regular Service of Passenger and Cargo Steamers Between NEW Y0RK,N0RTI1,/v\IPa«(50UTI1 DRAZIL (calling at Barbados) also between LIVERPOOL, HAMBURG, ANTWERP, HAVR

VIGO, OPORTO, LXSBON, MADEIRA, PARA', MANÁOS, K MARANHÃO, CEARA', PARN AH YB A, IQUITOS. Ag©nts for NORTH mü SOUTH AMERICA PARA PERNAMBUCO Juiius von Sohaton 1 BAHIA MftNAOS NATALIRIO DB JANEIRO MARANHÃO Booth & Co. LtJ, CABEDELLOS. A. Wbarton Pedrosa SANTOS GEAR A (l/don) MACEIÓR. B. Pàtenam. RIO GRANDE DO 6DL PARN A HY BA VICT.ORIAArbuckle & Co. PELOTAS IQUITOS FLORIANÓPOLIS GáUhcrm* H. Chaplín PORTO ALEGRE PARANAGUÁ x Emprczd do Melhoramentos Urbanos áe Peranâtfná. ÊÃÔ F3AJ?CISCO DO SUL* R. ®^. &§áafi*?a. BARBADOS : LouHe à Co.. Ltd. OGTH AMERICAN SHIPPING CORPORArw% N 1T Baítery Placo - "U

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REVIEW. III January 5, 1928. WILEMAN _ BRAZILIAN

\ww ¦•¦ HIME & CIA. t 52, RUA THEOPHILO OTTONI, 52 Rio de Janeiro Lighterage Co., Ltd. (esquina da Rua da Quitanda). 1 Postal 593 — Endereço telegraphico MFERRO." Caixa Lighterage Contractors, Stevedores, Telephone 6075 Norte. Tug and Launch Owners, Saivage Operators. Import. de Ferro, Aço, Ferragens, Cimento, Tintas, Óleos, etc. Fleet—Over 200 Lighters: 22,000 total tons capacity. t Depositários dos productos da COMPANHIA BRAZILEIRA DE RAPID HANDLING OF CARGO GUARANTEED. UZINAS METALLURGICAS—com grande laminação de ferro "Emily" em barras, vergas e cantoneiras, fundição de ferro e bronse, Saivage Tug equipp<_ with Modern fabricação de parafusos, rebites, pregos para trilhos, ferros Saivage Appliances. de engommar, balanças, louça de ferro fundido estanhado e de ferro batido estanhado, de canos de chumbo, etc, etc. RIO DE JANEIRO — FABRICAS : — NOVA INDUSTRIA—Pontas de Paris, tachas para sapateiro, em ferro e latão, louça de ferro batido e esmaltado, etc. 75, Rua Visconde de Itaborahy, "_• 75 EMPREZA PROGRESSO — Fogões, caixas d'agua, ferraduras, portas de aço, gradis, etc. P. O. BOX 1164. "SOL." Phosphoro» marca — Metal Deployé. TELEGRAMS — "LIGHTERAGE RIOJANEIRO "JACARÉ." — Cimento "Saccadura," white Brothers. Coalho "NOBEL'S Codes—BENTLEVS, A.B.C. 4th Ed., LIEBER'S, A. 1 Dynamite e Gelignite da EXPLOSIVES Co., Ltd." LONDON — Dashwood House, New Broad Street, E.C. 3 Depositários do ferro guza das Uzinas Morro Grande ESPERANÇA, BURNIER, RIO ACIMA. ENQUIRIES INVITED. -MK>

THE LEOPOLDINA RAILWAY COMPANY LIMITED, Central Office, RUA DA GLORIA, 36— RIO DE JANEIRO Telephone Central 2404 — Cable Address: LATESCENCE Direct communication between the States of Rio, Espirito Santo and Minas Geraes, Length of Line, 1,856 miles, with 292 stations serving an área of 200 000 square miles. TRAFFIC IN 1926. Passengers, No. 21,636,170Parcels and Luggage, Tons, 107,911Goods. Tons, 1,747,756. TRATNS LEAVE FOR THE TNTERTOR. From Nictheroy. 6.30—Express—Campos, Miracema, Itape_iirim, Porciuncula and branche lines, daily. 7.00—Express—Friburgo, Cantagallo, Macuco and Portella, daily. 15.35—Passeio—Friburgo, Cantagallo Saturday. 16.40—Express—Rio Bonito, daily. To Macahé Mondays Wednesdays, Thnrsday, and Saturdays. 21.00—Night Express—Campos, rtap.jvrim and Victoria, Mondays and Fridays, Return from Victoria Sundays and Thursdays. 10.15—Electric illumination and ventüation. Single fare N:ctheroy/Victoria 59$400 Return fare, 938700, Sleeping cars bet- ween Nictheroy and Campos, Upper Berth, 22$40ü, Lower Berth 28$000. Lunch and dinner served on restaurant cars bet- ween Campos and Victoria. 21.00—Night Express—Campos only, Wednesdays until further notice. From Campos, Tuesdays 21.50. Single, 34$900; return ^l 558700. From Barão de Mauá. 20.10—Night Express—Petropolis, Entre Rios, Bicas, Furtado de Campos, Ubá and Ponte Nova, Mondays and Thursdays. Return from Ponte Nova Wednesdays and Saturdays 15.10 Single fare Barão dc Mauá Ponte Nova 54*000. Return fare 858.'500. Sleeping car between Petropolis and São Geraldo, upper Berth 228400, Lower Berth 288000. RTO — PETROPOLIS. WINTER. SUMMER. 'ils! From lst May to October. From lst November to 30th April. WEEK DAYS. WEEK DAYS. A. B. A. B. Barão de Mauá, Dept. 0.00 8.35 12.00 13.30 10.30 17.30 20.10 B. de Mauá, Dept. 6.00 8.35 12.00 13.30 15.30 16.30 17.S0 20.10 Petropolis, Dept 6.10 7.35 8.40 10.10 15.55 19.30 — Petropolis, Dept . — 6.10 7.35 8.40 10.10 12.50 15.55 19.30 SUNDAYS AND HOLIDAYS. SUNDAYS AND HOLIDAYS. Barão de Mauá, Dept. 6.00 7.30 8.35 10.30 15.30 17.30 20.10 '>. de Mauá, Dept6.00 7.30 8.35 10.30 15.30 17.30 20.10 Petropolis, Dept. ...0.10 7.35 10.05 15.05 17.00 19.30 20.30 Petropolis. Dept...... 6.10 7.35 10.05 15.05 17.00 19.30 20.80 A. Mondays, Wednesdays and Fridays only. B. Tuesdays Thursdays and Saturdays only. EXCURSIONS SPECIALLY RECOMMENDED. Petropolis.— 2.700 feet nbove sea levei, magnificent climate, beautiful views during trip; 1 hour, 40 minutes, lst class return 78500. SI one ballast no dust. Friburgo,—2,800ft. above sea levei, 3h. 25min. by passeio train. Fare 138300 lst class return, single 88300 (Saturday lo Monday.) GUIDE BOOKS AND TIMETABLES published half-yearly:—Price $300—containing useful information re: mileage books and prices; reduced fares for excursions, pxires, etc.: Company's Agencies in Rio; free storage time and demurrage charges on timber; illuslration and price of model poultry .coops; rates of advertising at stations and in this Guide; Deli very to dwelling*; map of L. R. system; advertisements, views, and sundry other articles of interest. r_t_ a__ __-»»l^_»iiB*_a™*U«_M!B&«_U<«P^JKt3sgB>Ç____*K&______è'',:Jíi , ¦ ,:;- -"tiTvH«H :w9 ¦

..* January 5, 1928. IV WILEMAN'S BRAZILIAN REVIEW.

LAMPORT & HOLT LINE I "DE THE LUXE" SERVICE KEW YCRK, BRAZIL AND RIVER PLATE FAST MAIL AND LUXÜRIOÜS PA$SEN€ER STEAWERS BETWEEN ind Scuth America, ani '¦ V " fleet were ali spectaily dealgned and bullt for travai between Horth ¦ h. animara farwlni fts famous bro,tf ""« "e'"' ¦»•¦••'¦¦•¦ »•'¦»•¦« «•"'• "urto- '•¦¦•••. *'¦"¦• »«|00B,< •¦"•"• li,.,•f" ^TTrtM»rocma, ••»••«• "••'•• •"» «•"'"•• and varanda* caias are parttcularly atíepicd fer trcpl"» cruislnç. "VAKLUK" "VCL1AIRE". "VAIBAN" CE "VESTRIS" TRAVEI TO NEW YOFK VIA TRINIEAD AND BAI EAlt£ CM UE

%»*•>.*¦ SAILINO EXPECTED ¦•.¦^•'.'ivi-v-'-.-'4"'^'.-;.'• FOR NEW YORK PROM NEW YORK -¦- •--•v-í-'-.-*:' *»,{•.*•¦ - -*¦: & $&&mm i*l VESTRIS .. 8th Jan. .. 23rd Jan. -*>'U VAUBAN ¦K&4- 7Me.-r'\, ;.;''v-'.;;'-H,.-^ VOLTAIRE . 22nd Jan. VANDYCK. 6th Feb. fr _1_a1 «fi ^-l.'1-.l;. . i^BíX, VAUBAN.... 19th Feb. 20th Feb. VESTRIS... VANDYCK.. 4th Mar. 4th Mar VOLTAIRE. VESTRIS.... 16th Mar. 2nd April. VAUBAN.. VOLTAIRE.. . I April. VANDYCK. . .. 16 Feb.

'VOLTAIRE" and "VANDYCK" call at Pernambuco Northbound.

Lamport & Eolt, Ltd* Síe Paulo: F.S. HAMPSHIRE I Co. Ltd. Peraimbuc : WIUIAHS I Oo. RIO DC JANEIRO Montevldco: tfl. REAL DE AZUA ¦ ahla : F. BYSVENSON S Sc, MO. Avenida Rlo Branco, 21-23 Suemos Aires 1 LAMPORT t HOLT, LTD. lulu ; 7. 8. HAMPSHIRE 9 C©., LIS. TEL. M. 1171

THE KOKWKGIAN SOUTH AMERICA LINE HegulBr nerrite between, & vice versa Norway, Denmark, Finland, Ealtic Forts, Brazil, River Plate

*^T^*^—ammtm—^H—w^^^^^**^^- FOR DENMARK, NORWAY, FINLAND & FOR RIVER PLATE: BALTIC PORTS:

7th Jan. m/s BORGLAND—loads Rio abt. m/s COMETA—loads Santos/Rio abt. Aires. for B. 23rd January.

abt. 15th Jan. m/s PARÁ—loads Rio m/s SALTA—loads Santos/Rio carly for B. Aires. February.

Fop furthep paptieulara apply to the Agent FRPITRIK FNÍiFI HARTRUA ohsAopedro no. o, rio de janeiro, I ÜLUIUIY LnULLlmlllpraça DA REPUBLICA 51, SANTOS. REDERIAKTIEBOLAGET IMORDSTJERNAN JOHNSON LIIVE W: FLEET: 14 MOTOR SHIPS, TOTAL TONNAGE, 91,000 TONS. Regular Berrice between: — Finland, Sweden-Brazll. Finland, Sweden-River Plate. Finland, Norway, Sweden-Chile and Peru. Sweden, Norway-North Pacific, and yice-versa. SAILINGS FROM SWEDEN: SAILINGS FOR SWEDEN & FINLAND: ":"'**'.'" From Rio: Suécia — 21 st January. Lima — 11 tli January. i-. ',' '' Pacific — 7tb February. Kronp. Margaretta — 30th January. San Francisco — 25th February. Kronp. Gustaf Adolf — lOtb February. Valparaiso — 27t h February, i For fnrther particularly apply to tbe Agents:—Williams & Co., Pernambuco; H. Gueudeville & Co., Bahia; Johnson Line Agencies, Santos; Edward Wigg & Sons, Rio Grande; or HJI2v CA1VÍF*C>?^84, RUA VISCONDE INHAÚMA, 84, RIO DE JANEIRO.

sons HBBHBBBl^HM «¦rawiimiiiiii^^ ' ¦ emerc v_l§;¦•¦¦¦_, ü_ SHIPPINO ECONOMICS. AND OF TRAD E* F.NANCE. -i£4- A WEEKLY JOURNAL %. No. 1 THURSDH, ÍMUàR. 5, 1928 Vol. 19 ~~ Mills & Granaries, Lm The Rio de Janeiro Flour - RIO DE JANEIRO. - OA QUITANDA, 106/110 ". OFFltbbOFFICES RUA UU/„LONDON H3.C. 48, MOORGATE HEAD O-m.<3-0S- RRANCHES. BELLO HORIZONTE SÃO PAULO Rua Curityba. 434 BUENOS AIRES Rua Roa Vista, ^ 443 Calle Sarmiento T^TT^rTmíI L S- Rua Gamboa No. 1 FLQUR Ml LUO-the MILLS MARKS ARE:-,.Cuarany» _____£___m._«5«B-ISÍl-«,a-U-a,U™™^-8.m.l.».ll T>.,,,,il_V1r_lBr.*l«»,\,Ucll^^ "Buda N-ional,N-do-.l." pr}ze BrazU 1908 1910 j_ur*pnq- Gold MedaV. Paris 1889First Prize Brazil àWUMjJtoU»st Louis 1904_ Exhibition of Brazü 1922. ^^¦ Cente„ary trisF Prize Tarin 1911™l*¦ V____ CJ>JI2!ÍJ_l!iÍ§Í C-ntcnar, E-hlb- WaB3m-Knuw" £B!%£?__J?__!£_

SOLE AGENTS FOR:

"¦- ™« COST. -«O™ BUT « (ÍUAUTV EQÜAL T0 «OU.. _ ,_««,*«, Co F6ra. Ut7. Gtand Pri,c Ç;~Xr Min" «JU,

¦- MflRSAS_aLiH.cn_BJ-jãmã_gBjjm i ".¦"<» sj v^^---—- dc ,,,,,, ,,27. '^^**,_,, «--»•** Ind..'tH. . &mercio. .'" „„. C—-^posição ,_xposiçao ut nfa línrhHors Concours Bello Horizonte, u^/.e Membro do Jury `, i,vfl_eilÍC maCIIlUery, with the «£•J* These lactories are equippea J-*eÇgfisS_-_

BfiAZILlAN wmmtj§lcyam^^ Capitai. . . * • £2,000,000 Á-ffSa©*^* £1,625,000 Capitai, Fai» -~p . .. . • «*!».!» HBA» OFFICE: 20. B-l _f &%.

—-.,-»-«..^.-è-^^ ENTS 0F THE BüAnum». ws,,'u"1 iMimiir iiiiibi!¦¦¦!¦¦ unir •^'^^^BSSaMmamattmtma« aanwe^^»^**3^^ ¦¦lll"IM.II

-» * 3. 'ím ' m January 5, 1928. P WILEMAN'S 3RAZILTAN REVIEW.

 ______m_m_m_m_m_m_m_m___t_m_m_t_t_m______m__^^ READ

' B THE BRAZAM EVERY SATURDAY The Pusiness Puilder of Brazil A Weekly Encyclopedia 50$000 per year in Brazil T0$000 » • Elsewhere BRAZILIAN AMERICAN Gloria Rua Cândido Mendes, 4-2, {Antiga Dona Luiza), 2057 Caixa Posta! 629 Phone Beira-i^ar

írjiiBB»B5aiatiA"ac«^fa3Bir.víi-ii6R; \______\\\\m\\\WmU ^«««¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦•¦iS

^¦¦¦aaBOHBHMKnHnMiM(. -piEtiisroES LiisrE BECULAE SERVICE OF FAST VEESSELS BETWEEN Orleans 13rassil9 New York, JPiiilaaelptaia and New ^jj-rmmars. 0_W_\__% Si..' W*fí_tfxa*tgV'%__iT____h

S.S."INDIAN PRINCE" due Rio from New Vork 5th January. 18th January S.S."CORSICAN PRINCE" loads for New York & Boston & CO., LIMITED. AQETNS HOULDER BROTHERS — Antônio, 35, SANTOS Rua da Quitanda, 149, RIO DE JANEIRO Rua Santo Tel, A d dl. i «»PKIJN CELIN BX* * *

ijwasKsum ¦ ' —-¦- - •**— - ² mmT*zsxss;-Mm\**wBex-,*%i*A*^ ,^^^^^ r___n______^___m__T._Ç_rmKXmSWWKMBriTZ*? IIIII M IWIIW lH^lli WKm\tÊmWm\\\\\VÊmm%\\\WtmÍmmm\tttMT ,.i mmt .m .-»—¦. » thêcIty of sam tos improv kmiojnts company, ltd. Estado de São Paulo Caixa 4—Santos CONTINUOUS CARBONIZATION PROCESS: ALSO GAS DEPARTMENT SPECIAL COKE AND TAU PRODUCED BY THE u AND OILS FOR 7 MANUFACTURE OF SOFT mCU FOB WATERPROOFING PURPOSES, CRUDE BENZOL

SUPPLY SYSTEM. SPECIAL CHEAP RATES FORM- WATERDDEpTBETMraTSDISTRlBUTION ON THE CONSTANT PURITY, AT THE RATE OF 156 TONS DUSTRIAL SUPPLIES. SHIPS SUPPLIED WITH WA: ER OF GUARANTEED FOR LIGHT AND POWER. CHEAP POWER ELECTRiaTYHDEPARTMEN?ra mSTALLATJONS OF ANY MAGNITUDE FOR LONG-HOUR CONSUMERS. MOTOR REPAIRS.«„.««, DURING 22 HOURS SEMON TR4MWAY DEPARTMENT. SEVENTY KILOMETRES OE BAPID ELECTRIC SERVICE, FOR LARGE PARTIES. PARCEL DELIVERY; TICkVtS WITH NON-STOP SERVICE AT NIGHT. SPECIAL TERMS MATERIAL AT CHEAP RATKS. SERVICE TO ALL POINTS. ELECTRIC TRANSPORT OF GOODS AND BUILDING "Companhia Denrio Saboc.'" GOODS FROM INTERIOR SHOULD BE DESPATCHED CITY, HOUSE, London WaULondon TELEGRAPHIC ADDRESS: — "CIDADE" SANTOS. HEAD OFFICE:—SALISBURY ¦!»¦¦¦ ¦¦p tfamwtm*mm—pw x..m* l. OiKVm —

' x- ¦*# J< ¦ ... M -¦-V3». . »^'pn»- "'_f.\~c- f^^iv/;'.T'." ¦ ..¦" .:/¦ ,"- ..¦_

3

BB*** «BVB* W1LEMAN'S É|fánunry 5.. l^H.^^______

¦¦t<_\ W^ EatablUUed h F*• Wileman. Editor-H. «A CAMBB1N0. 0FF1CES-. ^ mo ^ j>nelro. * J*. ^ *«- »«' - >-'J. . ' . ' ILvLWPBONK= "BBVWIW," «oi-»™- XeL Addrcsa. ROYAIJIOLUNOJ^B Bdltor. < to -he f Bl0 toj»^be addvcssed : Commuuic»t.ons \ AU ++++¦ Editor is nol in^uor NoUcc-lhe„ ,. , The Lar,g níline o MA1L F1XTURE5 EUROPE. § p.-_ • «*oC-„rilv a* FOR paeudonym* be held m Jan. ¦ r «praio Italiana, ••• CSÊ Uo.d, Jnn. GIUU° Noiriclcutschcc _% S1ERRA CORDOBA,10. \ . »^*rjs^to'10- jíi T»MPH^C'U.0„ «¦ MENÜÜZA, -^ '^Jan. „. \ MONTE OLIVA l-'";t'\Slu,1 OUESSANT, Jan. W \ marriages concernlng IWnlM^üG.>Jan. 11- , « , and ALCASVMAA \ DELFINO, —=ti'""»"": -"""""" ANTÔNIO fnenas STATES. íubscrihers and THE UNITEO : ','l-; F0R cíiarge.

IVA:( >- -*,--*' -$¦-' ,,. ' süirniEttN caobbjan Umpori- & TAí*E, LTD. VOi/lAlH^ fEATE. CAPEV/-""»-Rio Santos to THE .«VER RLOBllV janeiro and F0R '"^t de 8«"lce P"rt" i -lan- Cargo Afrlc» Bl' lJ'llv-',int> ,, Divoet a« ci Dlj»b^,,1*>,l »¦ I South AVELONA, ,,,„yiJ, Jan. sila JAPA-NESE Rojaiu THE FLANDR1A, Jai 13< ,,S1'\nA, H.S.D.G., ; MARU WAKASA WNAMBmCAM^^^uül.n..;.»»'"' 1VAOS1A, Nav.__^ (Under Conlract) DUCCA un Fchmary l'°r ti- s;,i,S"",- lot„ EnEastLondon, anaJ Bay, Port Ehznheth, Lea£ Ledgers Tosvn, Mosscl^Mosscl ^ Loose lf _. c;ipc ^ ^^ CARRV $tRANSE^W wp MAVAYS '^S^TcEB'^ BE Ek|'^ Forfi,nl,crpavt',culnrsaPP*'°'- ^ YOUNO TAL%SuUv. PHOKB OE SI CUMMING ' Cape V~£ ^ for lhe Blo 1NGEE7.A. ./ V Agent Sarai jMPBENSA Consemei- J 33, Hua N°llt - RIO DE JANElRO^clcphon' Telephone— 65-57,.i WO^ RUA CAME1UN0 :RiO DE JANEiRO: »

S^'%- ., { / w WILEMAJ-TS BRAZILIAN REVIEW. January _, 1928.

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The íremenclous success of the luxurious and excellence as to a new generosity "First put and super-moclern ships of the Blue Star meaning into the expression Class." Hi Line proves again thaí it to do things No emigrants carried. pays ªUai ' supremely I well. 1 he ships go directly into London, saving the ______cost and bother of a long railway journey f| The line carries first-class passengers only, after landing in one of the other and ————— ports, and has concenírated ali its efforts in make the trip to England in 2 weeks, ___ _! giving "quickest being the them accommodation, space and food in such route." _____ \W__\ rhe ships Toucli at B. Aires, Montevideo, Santos, Rio de Janeiro, Madeira, Lisbon, Plymouth, Boulojjne and London. II NEXT SAILINGS H¦Kg _^_. FOR EUROPE: FOR RIVER PLATE: Sr7_ ___¦ ANDALUCIA Jan. 10 AVELONAJan. 6 Eal. I AVELON\ ÁVILAfan. 20 ÁVILA ARANDORAFeb. 3

* Agente: WILSON, SONS cV: C< Ltd.—kio do Janeiro—Avenida Ilio Branco, ;.7. — R__P GORIFICO ANGLO S/A Sfio Paulo Rua Quitanda, 10 — Santos — Rua 15 Novembro -°r>-El .1/¦_¦*¦_ :r-___to______„ *^_^^-5?^*^BI______^fc__-__

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REVIEW. WILEMAN-S BRAZ1LIAN mary 5, 1928-

%._\ ê*__/ n1 ir*o CORRESPONDENC llklFrlfs- CAIXA 1391 «ELITE' «V CABLES

\_\_WÊSÊÊ^k ¦ AT: ,- _- KshMMh_____. .'¦"•-•^ - vm ú' p®35 ff_w« «_s_Ílã_____ BRANCUES lioNDON JANEIRO St. RIO DE W / 186 Bishopsgate mm, Hl 'ÍW-SI^ImIWmL n. Senador Vergueiro •ARIS ÍV ' 21 5 Av: de POpera Hua do Con.merc.0 "iA NEW YORK Broadway 760

_.*•*«* »«« .£** B_v-«Ji sj.-.-/' Sbi ^ta,!--*& ra PAULO ¦"-Js-c**-' ___ct - M _ DEPARTMENT MENS OUTFITTING TAILORING GOODS ..m"-; nnTFITTlNG TAILLEURS, KN1T TP,IMMv" GOODS requisite*, ROBES, GIRLS FASHIONS vt OWERS FANCY trIveluÍo CO-VTS & WRAPS, WEAR RTBB0N1S'J^TFRYMUSIC boots & shoes UNDER. 1VI...GLOVES, HOSIERY«AIRÜRESSING DRESS MAKING, BABY-UNEM FURS r>r."R-**.FTS "™( ,,íl,'l.lO MILLINERY -;f;.ri-————* s'salon_lnforraatIon . FÜRNtTÜRE* -—-<-• * x..«i —- Be...n5 FLOOR) ». D.p.xtm«ntB:_ _r_JOINING (3fc-

«^BESTAO^NTJ^-~-^^^COütrOl. ROOMS 11,0 Goilcef rr iii^*1»nu<->-TnstitutC^ a TEA B²..ii,. ,n;.< s„usuite,. otnl,r U»U1U^^. ..«« W» '»"nlhs, improvcmeol u do oot Qannum fol. Business conditions ,.a5".na s ^ NOTICES. is .Uh d,a, i'anUs lQ , e M,,n,.v .n . certaiu bani. is vet, tl^tt ?"IMPORTANT NOTICE. deposils, ,* c l""t',ms,(lia,„„,,^.^ 10% for 30 dnys |n som_ case3 -:__ - offcrcd a U,^ .n »»=." -"""" rate. nom.n. q prIyU , and (liscml„, disrf tJL^ The coffeo Bftnk f tl higher slill. lhe^^^ of lhe c.od,t . I „o»Ulon ln viesv ^^^ |iul)llsh. «wileitians Braziuan »*-*• Sao 1'aul bondou ,,, Coiloc bilis oii- Wilem»JANEIRO. Slale oi ^^____.0_ Editor columns. nus 809 -MO ªTE c(1 in lhese CAIXA POSTAL QF T11E taxa- OU ,-OSS nf '^Uladintí. «"»« . ""^r^li.*..;„„ n'11-llv Lo increascd ^^£?Zl\Z Xr^UVEIU* »f ." an^j,^,,.,..ThoGov.rn- *u Mnn.Cml taxaUon, t0 ABOVE ADDRESS Uon. pavlicularb" issues incon- OF CORRESVONDENCE^—• -',l1 hUcmls t0 total convcrtiblc and f-T m raisc thc al """"""" *""'""',i. 3,500,000 contos, cc.nival-nl «nJ ICU1'1- Uon to vcrliblc currency NOTES.( 1187,500,000 6d. exebange to ,* ! o(* vevenue bave been aulborised «m^ - - U» eX,, , áisaIíp0inting budBet ^ ü_e Dft VS ashington^ cslimates at ..r^rJrrr-.-oi,,u»« "uliturciéea whefher ¦«by *.- bis scrutiny.^^^^ of Ulis issue 1W Cngrc... up » slill pcndinn cQlumn voLd ,„„„, of revenue are gnçicQntog and . -unrf s Details gold moi-ent, abus.n_, ^ M Lt jHic in oi CtÍm:^Crbr™pa:.Ultb™ven».asr„no:!r: expcnditurc. lhe pa5 ~r nacessary -rr1;;;'^. *.-* -* «•« l,5u:..768 contos papei,^ (.()n,ns ()f Beis s. i.. fi»*» ^.-«n,: Déficit or ^â, ^"''s"'^';:ii;f„, is Inrsely r»-',., Surpíus § puWic »»•»¦ 11L^i/3'2d iate. Revenue Expcnditure hudact for nvIu»-^ *> drawmg + ^WlM ^tcbange ü™ » - «d.ange 182,382127,304 eontiu-s ,,,;ink ot ,!rMii. » ^ in v.rtuc o Gold . "' ,,.,, i I for lhe pe_._.i»S ycai-, *40U * it not ^los (htc pasl LOinc Premium on gold risen betore Uk ^ cc„sCS l() 638,337 nave °»~ . • ••••••• .^²—/n i would »>- ¦»' sveaUen and exebange . ns and lhe «."eo osch;m:,, will 1247,851 820 719 572,868 in icrm» of paper —249,506 Tota, gold 1,254.262 1,503,768 /

continue sUU i,n- Paper . ‡ —/...¦ rSdeCE0Iu,b"disaç"ao-* - 1.65 C'7L ¦^^T^Ä ,„„ Kepoi"t 2,074,981 2,076,6^ Santo, corre. Sanios Mavlcet of i>apcr as st^CÜand but Total in terms — The situation, higher pnees, pvovinií. lb. vc,," ^ll^VlrTJl laue piaec durin_ T* ^ts6to <-v f

-¦-¦£$

BRAZILIAN REVIEW. January 5;';,l1n

*$ SCOTT & URNER LTD. TIJE

ENGINEERING CONTRACTORS & BUILDERS m -m Anglo-Brazilian Chronicle

":Â (Generally known as the A. B. C.) Design 6) Execuíion ot Reinforced i Concreíe Buildings, Bridges, Piers, Wharves, is lhe Ideal Newspapcr for lhe Home. It is an( English Waíer Tanks, Silos, eíc. Weekly on sale regularly every Saturday\ morning in Rio, São Paulo and Santos, and- lias ? Projecís & Execuíion of Foundaíions & subscribers in every part of the countxyi as well as throughout Piledriving the world, serving thereby as a sure Work. link between the scattered British Colonies in Brazil. It its Projecís ¦& Consírucíion provides readers with ali the news of Cold of loeal amf foreign interest, and in the two and Síorages & Packing Planís. a half years of its existence bas secured for itself "delivering the rcpulation of always the goods". Design & Erecíion of Steel Framc Buildings & Bridges. IT PAYS TO ADVERTISE IN THE A.B.C

Hydraulic Eng-ineering Work. One year's Subscription: Abroad 35$000 Brazil 25S000 General Building Works of ali Classes. São Paulo:ríq Representative; Rua Boa Vista 8th Avenida Rio Branco, 109-5° Rna Barão de Itapetininga 1G, Floor, Room 9y D. S. Fox. 37-i Caixa Postal 2124. Tel. Central 4751 ' Rua Quitanda 161 RIO DE JANEIROSAO í PAULO

" ".'íjj "'.-¦ /¦ . .':-::- ... -:¦'.:: ESTABLISHED 1884 TTbe financial IBews Hamburg - Suedamerikanische DAILYTWO PINOE OPFICES: Dampfschifffahrts Gese^ílschaft ¦-.. 111, Victoria Street, London, 'V Quéen E. C. 4. (Hamburg-South American Steamsh ip Company) Telephone6830 City (4 Unes). Telegrama"Finews, Cent, London.9* Regular service with the well known, luxurious, express steamers "CAP POLÔNIO" THE FINANCIAL NEWS is the oldest "ANTÔNIO and DELFINO" and "CAI? NORTE" most influential Daily Financial news- in the world between paper ; It is acknow- T Hamburg, Boulogne ledgedto be the most Potent s/m. Vigo, Lisbon, Authority Rio dc Janeiro, Santos, "'¦' on Fínance, and an Advertising Montevidéo, Buenos Aires and vice-versa. Médium of unique value. — m li SPECIAL FEATURES Next sailing for Europo.. International Flnance; Banking; Insurance; Mining; Rubber j MONTE OLIV1A 10 Jan. Oll; Fíiolneerlntí; Shlppíng; ANTÔNIO DELFINO 14 Jan. Lantí and Estates; Mlscellaneous Industries ; LA CORUSA 27 Jan, with * COMPLETE MARKET REPORTS. Regular services with modem passenger and cargo steamers between Hamburg, SUBSCRIP7ION RATES (POST FREE) Brazil and Riv<-T P'i ite Ports. 12 months£3-16-0 1-19-0 AGENTS: \ d** •••••••••19-6 READ Theodor Wille & Co QH SANTOSRIO DE JANEIROSÃO PAt TLO v\ JFínancíal IRews The Great City 79, AVENIDA RIO BRANCO, 79 ¦^VmI

• \.y~- A i v t'^*1." 'O'' ?^?mm »í?í»-,-W' »'T l':-f:'_.!:

'¦¦ :J* " -W-*," ». r, WILEMAN'S BRAZILIAN REVIEW. ,. January fe - . \.- * *

balance déficit Estimate s oi 'gold revenue almost counter tlie ^¦«¦»»¦¦ dn paper. déficit in Even th\s Government .is impoterit to veduce the bo further increased by extraordinary paper, whict is likely to Thus, Dr. Washington Luiz/s credits openled during lhe year. affected seriously, for there Hon. CHAPLAIN—Ven. Archdeacon stabilisation I mechanism will be is Morrey Jones. be stijbility of the currency so long as there no financial cannot Seamcn's Institute We shall not. therefore, be snrprised to witness èquilibriumj Rua Saccadura Cabral. 61 during the current when no a fali in e*% hauge year, particularly Rio de Janeiro loans re forthcoming. next Subscriptions and donatious are badly needed Énore malysis of the Budget will he published in our F.urthei to defray the cost of upkecp of the institute. Another issue. five coutos of réis per annum would place us upon a sound financial basis. THE BUDG5T. If already why not 1028 have been you are not a subscriber, So far, only the estimates of revenue for become one? 6,474 seamen visited the institute last Republic. Wc understand, sanctionedby tbe President of the year and 526 meai Tickets were issued to the des- cre 'however, tha| the estimates of expenditure may bc sanetioned titute. we go to prrss. two final estim- It is noi!, possible, therefore, to compare the of revenue, as follows: ates in this íssue. We give, however, those

SUMMARY OF ESTIMATES OF ORDINARY, EXTRAORDINARY AND EATníARKED REVENUE.

iu tuinusui i wi.> 1028 1027Increase orDecrease ¦ i . GoldPaperGoldPaperGold% Paper% l Dcvived from Imports and Ship- 173,460118,007137,323103,552+ 30.1372(5.34- 14,54514-0 pínfl . . "Èxcise B377,347²350,500²²+ 17,8474.0 IX — dues B 25237,50020215.000-I- 25.0— 7,5003.0 Hl — íjtamp Dutics . S087,-100²71850+ 80+ 15,25021.2 — ]hcom<> Tax . jy B2,172²2,200²²-I- 27212.4 V — itatciv Tax . 2,8005.7662,2005.0814-, 00027.3-- 2153.6 VJ — Slindiv revenue . 14,48310,260— 4.78624.8 Futrmonial revenue . \rjf 788100235,101+ 2020.0-I- 47.32720.0 120282 YXXX — Tiidusrial revenue 7.0000.3 74564,73478171,743304.6 XX — EfdraVdinary revenue . 1.1,15103,0059,53041.180+ 3,02137.0+ 22 78555.3 X — Earmrkcd revenue 08.5208.5 100,3821.251.202149,955"1.155.7304- 40,42727.0+ Total réUmiíearmarked for paper mo- ²— Deduçt S.000²0.350— 1-35014.4 ney ginatidee fund 08.5208.5 182.3821.254,202140,6051.155 7304-41,77730.74 Rca|^ 41,777 ^Pótal _.182 382B1-10.005²²+ Gold bugold, 350% (6d.) in 1027 fâí Premium 038.337 102.117 + 140.22020.7 and ip8 -280.523 2.074,08! 1.788.458 16.1 of Total jiii rms paper are considerable shrinkages show an increase contos or 20 per cent. in paper. There óf ívenue for the current year Bi Estimates o in registration due, and 1 to 5 reis per kilo tax on merchandise compareci with those for the pasl year, | I™lo.s oc 8 dischargcd or loaded. ce,,. . in sold and 98,520 contos 40,4_/40 c'ò;;contos Ar in perA ^ __^ ,fold show increase in lhe aggregate of 17.847 contos ^^ ^ , 0 _ Excisc dues yújj n , -P._M1 changes under Ihis beading per eent. emlm paper or 4.0 per cent. The marked revenue derived from drinks. canncd foodstuffs, with lhe cstima.es for are inercases in aS compared in textiles. |fe sToXi 4-ase, impnrted wines, ele. and the rcmarknblc decrease contos or 10.1 per cent. lhe past vea-. of-56,523 and and nnpbta. six playing cards, gasoüuc enumerated above dutics ftablc UT) mjj- ten diiercnt items of revenue Estimates of revenue derived from stamp 0f tbe industrial ¦u tbeX most marked bemg ^ in Hu- aggregate of 7.500 contos paper or 3.0 show h increase! n.-ir moerpapei, show a shrinkage lun. i, <--^ ¦"- (47,3./iiipi" çwqsni ns or 2().(1 t,t_oi*i\pei per cent. revenue íln.ioO rontos^..inq oinr 21 2 Im ,- í npr cent.^) ncome tax Tncomc tax (tablc TV) sbows an increase of 15.250 contos ™*—-un pt cent.. which does noi auger well for lhe tax-payer. ::;::„rr',,..... i ."J»« olhes oi- 21.2 per or B5.8 per cant.i, and rx Sundry fVI^ show little change, whilst e—M-evc122,78, contos Lottery dues (V) and decrease of 4,786 contos paper nr 21.8 with smaller aniciits. patrimonial sbows a total revenue .. shows an increase of 17.327 contos increase in estimates of Rokl per cent. Tnduslrial revenue The stóstrnti and railway derived from imports anl sbippmg, or 20.0 per cenl., chiefly in post office. telegraph accooned\ nl.viVrcvniiic as compiired with revenue. amounting ^^to!,»6,M contos oi,,„„i Extraordinary revenue shows a shrinkage of 36 contos gold vear's cs!imate.* last and of 7.000 contos paper or 0.3 per cent.. chiefly the estimates of imports dues as or 4.0 per cent. The marked inreaso in seems lo ,nd,cate a in the issue of suhsidiary coin. I thãl follows. asain increase of 3.021 Í*o*n in the Itabf movement of tm- The estimates of earmarked revenue show a %view ew with regard to the ^^ somewhatZ optnnistontiinist! or 37.0 cent.. of 22.785 contos paper or 55.3 per the current yuu contos gold per Inorts and sbio^tigdunng cent. ' ff >*3»3ii- 't '";WILEMÀN'S Lnuíjtry 5, 1928." * . tf V BRAZILIAN REVIEW. 8

iTffiTWESTEBNXXXiJE-tib.ished TELEGEAPHlíÕMPÃNTrnirrED. Establlthed In BraiHBraxU 1874MA„MPNT1874_IT ONE MANAGEMENT. )MPANY DIRECT ROUTE UNDER EATERN TELEORAPH O Mooí gate E.C. 2 Cable Stations In South America. LONDON: Electra House, TELEORAPH COMPANY Bnil< l ngs. WESTERN Liverpool: K 13, Exchange Boulevard da Republica N. 48 Pará (Belém), 11 N. 24 Maranhão (S. Luiz), Av. Don Pedro Mancbester: 55 Spring Gàrdensj R. Floriano Peixoto N. 22 Ceará (Fortaleza), Oscar S Pefnambuco (Recife), Praça Oeneral Arthur Glasgow: 40, Royal Exchange iuare. Rua SÍ e Albuquerque. N. 95 Maceió (laraguá), N. 7 luildings, King Bahia (Sao Salvador), Rua Sao João Newcastle-on-Tyne : Maritime Pereira Pinto N. 6. Victoria: Rua 117. Street. Rio de Janeiro. Avenida Rio Branco N. Santos: Largo Senador Vergueiro Birmingliain: Guildhall Building de Novembro No. 39a. São Paulo: Rua 15 Pinto Santa Catharina (Florianópolis), Rua João Bradford : 4, Commercial Street. N. 94. Rio Orande do Sul: Rua Andrade Neves Lccds: 72-A, Wellington Street. URUOUAY:âin 33, Merchants' Exchange, Bute Docks Montevidéo, Calle Cerrito, 449. Cardifi: 13. RIVER PLATE TELEORAPH CO. Madrid: Calle de Ia Colegiata e 337 B?c°osNA.ící::Calle San Martin Nos. 333 Lisbon. Rua do Arsenal. WEST COAST OF AMERICA UNION TELEGRAPH TELEORAPH COMPANY THE WESTERN COMPANY. Antofogasta. La Serena AHc^Pisagua, Iquique, 195 Broadway. Coquiinbo, ConccpdW Coronel, Talcahuano. New York: Prat,217. Valparaiso: Calle 169, Congress Sb eet. Santiago: Calle Huerfanos, No. 944. Boston: PERU : Halifax: 140, Hollis Street Callao, Lima, Mollendo. YOUR TELEGRAMS:- PLEASE MARK To South America .ViaEistern-Madeira South America to ali Parts ORE AT BRITAIN...... Eiglani-Madeira From : Paris fr North Via Western. FRANCE Maíta-Madeira BRAZII South Madcin. Brazil >i" OERMANY Bjlgo-l/istern-Madère URUGUAY To " " &c Madeira BELGIUM Eisiern-Madère Europe " HOLLAND IValta-Madeiia PARAOUAY: To Brazil Rio de Ia Plata ARGENTINA & " Madeira- ITALY ,*•••••••< E-stcru-Madeira To Europe &c. Ascencion or Via SPAIN ?. Vincent I " Eastern PORTUGAl I CHILI-'••• CENTRAL AMBÜCA and WEST " " Radio-Eastern Sggffi AND- ••*•• • "" yesteni Union " Puntal'Uliia Arenas i.nuj^o,INDIES, ^-^•etc • • ¦__ ¦—_ — Cable West Coast -.-^^g. PERU &üc bouvja^^^BOLÍVIA.. i_% 58 Rne^^"Hammée; HAMBURQ; B_ÕKebez_strasse R H.B. Levack,. Roe ie Rlchelien, 73;.»»? Praça Senador Florencio. AGENdESappnpíPS- . PARU.JLPARIS* 41 SSi íim o ««fcgJWilson I ^^j ^EdlUcl.™JZ^_2_L_---~-~~~ L05D0HLE£J1„————— HEAD OFFICE OF THE COBIPANY: ELEC1 i^r_nr%|______HM*_*_ wi_n\m^s-www¦"i- • m ¦<0

ALL ABOUT COFFEE. THE P

BY WILLTAM H. UKERS, M.A. SCUMUm SlitPPIWC Gi)Zf~E "The Tradt> Journal. Editor of Tea «nd Coffee Head Oito: 29A., Amaliegade, "ViKme^" Telegrama: «nd Study in the Hei*. The Frnit of 20 year*' Rxyerlencc Codes: A. B .C. 5th ^

octavo pagea containing 50 A sumptutms volume of 860 royal including 17 page. .hapters and 415,000 words; 777 illustrationa, 29 maps and dlagrams, a co«« to colour and 102 portrait,, Pjaper 492 important dates ta The Leading Shippin thesaurus, a coffee chronology giving of 1.348 tlllea, apd 0„ tod» • eoHee hUtory. a coífoe bibliogruphy i *7ith more than 10,000 references. in Scandinavu

Published by ©¦—• Í0REM0ST AM0NC THE TRADE J0ÜRA18 Of mmm JOURNAL COMPANY THE TEA & COFFEE TRADE New York. 79, Wall Street, advertising Agent iq Irazü: Price $15.00 nett. plua mrriage "Wileniaa's Briiiiau ¥.mm" I5 H¦¦¦¦ F æ W1LEMAH, í V Agents for Brazil: RUA CAMERINO, 55-157 íi Wileman's Brazilian Review. O. B>x) 8*3 809. Caixa Postal (P. RUA CAMERINO, 55-57, CAIXA POSTAL (P.O.B.) RIO DE JANEIRC mC ÜE JANEIRO.

1 w g>^^«* ¦ir '"¦'¦ " ' " "v'¦"'--"-¦.¦ ,. . :

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Janu«iry 5. 1928. WILEMAN'S BRAZILIAN REV1EW.

R I Ti Gommercíal ITelegram Bureau; *\ ffbf *¦*-"¦ oontSÇ rr /) lí I t-ivunpooL\-q\ tl 07/ PAUIS HAVÍIE.Yi—W Reports and of leading American, ll Supply Quotations ali the Cul AMSTERDAMI il jOfficial I 21HCW VOIIK!-**^l| Indian \\^\ nio de jANKino /¦"¦f// Europeân, Brazilian and Markets to the Cotton, Coffee, Grain, V,^A s«nto» s.phulo J-^jl Tá OUKNOB AIHE3 \7J\ fjTjJl V' ° E^m»^^ Producé, Provision, Petroleum and Sugar Trades of Europe and Ame- \ ** S*-^- S// l*-/*v7*^'-JÍ*/ rica ; also re-transmit Private Despatches by Cable to multiple ad- dresses in Europe and North and South America.

ií Subsepibers fupnished with Intermediate or Closing1 American Reports at night by speeial arrangements with London, Liverpool, or Amsterdam Offices.

t-s For Terms, &c, applj to Chief Office: OOMTELBURO, Limited, 11, Tokenhouse Yard, London, E.C.2 (open day and night) Reç-ií-tered Telegraphic A.ddress: "COMTELBURO." Telcphones: London Wall 5060-1-2-3 (4 Unes) i London: 30 Miucing" Lane, E. C. 3. ÍClCpIlfllieS. Bahia: Larg-o das Princezas, 22.Caixa 203 Tá Liverpool; 7, Rumford Street. 1983 Central (two) R.de Janeiro: R. da Quitanda, 152 2° and. » 266 New YorS-34 Stoue Street Whitehall 6557 SantOS : Rua Cidade de Toledo N.° 4 > 243 B£31 Amsterdam: De Clercqstraat, 203268 Z São Paulo: Rua 15 de Novembro 17 A > 128L H Havre: Rue Victor Hugo, 136534 Monte Video: Calle Sarandi, 469Tel. 1093 Antwerp: 41, Reinpart Ste. Cathérine. 11852 B. Aires: Bolsa de Comercio, 239 - Tel. Pernambuco: Rua Bom Jesus, 35. Caixa 146 U. T. 31-2420 ¦\ vn

II -Excise Dues :—¦ The incre.íse ih the gold revenue under this hcadhig was duc Tobacco entirely to lhe coiisiderable addition of 5,000 contos in cventunls 70,000 70,000 Drinks and in papei- to 1 ie creation of the commercial roads fund. . 103.000 95,000 l The aüiliorisa ions which usually accompany the estimates Matches 30 000 25,000 of revenue ha.ve iot boen published so far. Salt 9.000 8,000 The Govem\rae-it is, as usual, authorised to issue 50,000 contos FoõtwêãF . 12,000 12.000 i iV. ,a nt ieipa tioi í o f rejvenue Pcrfumcry 15,000 14,000 The delails df stimates of revenue for 1928 are as follows:- Pharmaccutical Specialities 8,000 9,000 Canncd Foodstuffs 12,500 9.000 ORDINARV REVENUE. Vincgar and Oil 2,500 1.500 In contos of reis Candles 900 900 -1928- -1927 VValking Sticks 135 100 Gold Paper Gold Papei' Tcxtiles . 42,000 47.000 I—Derived I fron Impprts Haberdashcry . . 14,200 12,000 and Slgippii':— Importcd Wincs 15.700 1(1.000 Import Dues 1(50.1)00 5 000 124.00091.0(11) Paper and its derivatives. . . 1,100 700 .2 per cent. onl cerals 2,000 Playing Cards . 800 2,000 5.01 Kl (5,000 BRLegistratiori | '-xpedeti te) (Uiv 300 450 roo 450 liais . . '280 Landinjí (cap; (azia- dues. 400 Crockery and «Tl In ss 1.800 2.000 1.51)0 Warchouse duc 100 Ironmongery . 1.500 3 000 Stabislical duc 300 1.200 Tea and Coffee 3 300 1.200 Lighthou.se dut «soo sou Butter . . 1 200 ;; ooo I—E Dock dues 15 lá Ui Furniture . . 3,(500 Firearms . 700 ooo ,40% registratjon dues on duty free import.] ¦.ii 190 30 Kleelrie lanips, batteries and 800 (500 K % gold on officjlal value olhei- elect rie apparatus . . 2,000 2.200 of impo ris . 10,000 II 000 Chcesc 3,500 3,500 >ne to five rei pei*/* kilo ou Electric lighl and power. .. . 2 000 merchandise isch-^irged or Paints and inks 1,800 100 loaded 1,000 10 000 Fans . . 130 45 50 tdditional lax of 01.2 % on Furs, boas, skins, etc 200 ali imports or tí|*onsump- Gloves 315 2,000 1,000 tion 320 12\ 24-S 182 Manufactures of rubher .... 150 Razors and shaving brushes 500 ',','> 1.000 400 173,400 118.097 137,323 103,5.)! Combs. brushes and dusters -

¦ .; lj ',*-

¦ - Janii;ny 5, 1928. BBAZILIAN REVIEW. 10 WILEMAN'S

M^ In contos of reis -1928- 1927 Gold a per Gold Paper 150 Boxes of any shfipc 50 % 150 Toys 150 tl Manufacturcs of leather ... 1,800 500 1,500 Jcwelry, clocks, watchcs, etc. 850 '¦''¦•'W s of adornment 800 1.500 Objeel - and 000 1(1000 naphtho -¦ Gasolíne ;--,., 500 C. E. SCHMID Snnitary ware . 200 500 COFFEE RROKER Glnzed I iles . 700 500 solícited. Musical insl ruments G50 Coffee C.& F. Accounts New Orlcnns, La., U.S.A. Cinematographic apparatus & 800 31G Magazine St., photo câmaras . 250 SI oves 170 200 •) Cable Adress.—SEESCHMIDT. ¦;*. Souvenicr i ickets . Manufacturcs of tin, Alumi- pm ..iiWri i i»Xs0&e£3sa2, nium and cnamellcd ware. 100

•———-^ Bi In contos if reis 377 347359,500 -1028- 1027- Gold Paper Gold Paper ITT- Circulations Dues:— From lhe lease of ports of 120.000 SI ainps . . 25 120.00020 the property of the Union 8 000 12,000 Transporl (passenger") . ... 27.00027,000 Dividcnd and Interest on Ditto. merchandisc . 22500— 20.000 Lloyd Brasileiro's deben- .' Tax on Tcrme ( futures ) lures & shares 4,788 4,788 I ransat ions . . 4 00010,000 SaTc of merchandisc (Vendas 14,483 19,269 mercantis) . . 64,000— 08.000 VIII— Industrial Revenue: t£,_ r 245,000 25 237,50020 Posi Office . 41,500 32.000 Tclcgraph 120 24.500 100 15,700 WM IV—Tncomc Tax: — Governmcnl Printing Works \-:à

G5.000 850 - 1.000 ¦ Incomes . . 8080.000 and Officíal Ga/.elte /• 5% on Firc & Marinc insur- Government railways .... 208,055 178,110 nnce premiums and 2% on Mini . . 100 100 100 Jife, pensions, etc li.OOO 6,000 Arsenais . 100 10r; on fortuitous gains, dis- Dcaf, diiinb. blind asylums.. 2 ?! 10 tribution of prizes in mon- M iliiiiry schools 5 20 cy, etc. . .100 850 Prisons and reformalories . 5 Insanc Asyluni 80,— 80 SO 87.10071*850 National Laboratories . . . • • 280 250 í Inspection of railways and V—Lottcry Dues 2.172— 2.200 insurance eompanies —Fecs 2.000 ITigh Schools of Agriculture, 150 VI—Sundry Revenue :— Apprcnl ices. ete. . 70 6,000 Prcmiuns on deposils 120150 Water rales 5 000 public 88 .Indiciai tax 550300 Sundry ievcnne 91 Hydrometer lax - - 5 235-401 Acre Tcrritory revenue .... io 120 232.788! 11.00 10 % on exports of rubbcr "FVENUE froni lhe Acre Territory. . 3.3003 000 EXTRAORDINA^ 11001,500 Fund, Navy 5'• 000 :i050 ' Fiscalisation of Banks Fces. W>do\vs' ¦:'\ Consular dues 2.800 2.200 Ditto Army 1,150' 1.200 Registraiion of business of- Ditto, Civil Service 252,400 252,000 1 !005.500 fices . . G50 .)!!> Indemuities . . • • ¦ 2004.800 Government schools and uni- Industrial & professional tax 13,000 versities — Fecs 20400 — Federal District , 13,500 100 ²3,000 B2,500 Sundry . . 20— Snnitary Tax — Capital. .. . B1000 Sale of Federal Produce... . 10LOfHíi __200 2.800 5,7GG2 200 5.08, Policc Identification Dept. . "Patent -__000 Office i V VII—Patrimonial Revenue: Amortisation of loans to B80 1 1,100i.ioo public servants  31 National Beal Estate __40,000 Issue of subsidiary coin. .. . 30,00 \ Workmcn's dwellings rentals 5050 1 on investmcnts • • • • 500 Voofo 1505.000 Mona-zite sand 1 Interest Lease of "Torrens" . — 150— HO registry guaran- Foreshore right previleges .. * 230 tec fund . ‡ - Laudcmios :;on— Foreshore rights and marsh 745 64,71 lil781 71,743 land tax 5050 40 Fazenda Santa Cruz 44- ~V '" "i-"5-* tf* , . g¦;¦¦

' ' `WILEMAN'S BRAZILIAN REVIEW. 11 , January 5,1928. ______

In contos of reis-— —^4»~<$^—«$>^>» ++~6 11)28 1927 'Paper Gold Gold Paper 'Total Ordinary and Extra

~ 140,425 1,114 556 ¦¦:¦¦¦ •'. ordinary Revenue ...... 177,2111 1,190,297 Deduct revenue earn.ark.ed I for money guarantee -'fund paper 8^ _^_ J^ 1_ 1-'«'J" ¦¦" ":a '•l"r""1" Total nel revenue IWKU

EARMARKEÜ REVENUE. 1—Redemption of Currency Fund:— ,- ‡r-MR.0²12,000 Debt io thel mon l~"uuu- Eventuais,  . 7,000'»0í»0 l.),.)()019,000 i ² To be Sei in a 2—Guarantee of Currency •v ; Fund:— ew business building on ali duties on im- ,--Xó% gold be erected ports for consumption cie- About to dücted from ordinary Ke- 350 Visconde de Itaborahy - , venue . . sumo9 Rua Debt to the Union ! | 'â 5,050oU Corner of rua lheophiio Ottoni Eventuais, L. ² Groundfloorshop,20metresx7 metres^ Lr13,0519,1110 ——²~~"""" [ 25m,40 front to roads y—IhuhI for the withdrawal pf Apólices (bonds) issued 4 upper tloors oí same dimensions for the expropriation of — Rent of same AIS clear space - No columns railways -7r.0 g-e seen Hospital aid 'fund . ., Plans of the buildings may be Comniereial Roads building .. 1S.0II0 will be received "and upkeep fund and offers ,".~~~Z.12,8:15---¦"-'•, at the offices of

41,180 ,.,,-,-•¦•-•,1 b'(•.'. ü()5 9,5:,0 Total Eannarked . i ______. f COFFEE TRADE JOURNAL _$. THE TEA & fPi ífÜ 79, Wall Street, New York. Published monthly on the lOth, at Tea and Coffee Trade. The International Orga. ot the annum. By Subscription, $4.00 per Advertising Rates on Application. Bento n. 16 received by:- Rua São Subscriptions and Advertising (Agents for Brazil). i Wilêman^ Brazilian Review. >TX. ¦¦•'_:',Z uv» * . '

.:.¦.: v,» _ ~l ''' - . jf.-pv, _¦' _ 3» _* _'m-IU "* "V

5, 1928. 12 WILEMAN'S BRAZTLIAN REVIEW. January

4 TRADE OF BRASIL. FOREIGN TRADE OF BRASIL. FOREIGN by origin—C.I.F. value in £1,000 Exports by destinatTton—F.O.B.Value in £1,000. Imports —January- Mnrch. 1927. Thrcc months—Fanuary-March, 1927. Three months

19251926 11)27 192519261927 1.631 2,162 Gerraany 1.516 Germnny . . 2 S«02.6902,054 348 540 Bclgium . . :',;1 \ust ria . . 312517 JBulgnrin . ' Bclgium . 766724879 ' . Grcte . . — Bulganin ²— . À 1 Dantzig . . - Dantzig . . B²21 Denmnrk . 223 254 180 9812185 % lil) Denmnrk Finlnnd «« * Finlnnd 797922 ...•) | 2 . !• 1111111- 1,3401,1471437 2,528 2,160 Franco . Franco . . 2.584 United Kingdom 4,3784,1863,796 U. Kingdom 9n(' ,(l(l 761 1 * 8 Greece Grece . . 4 190121124 :,! 121 Spain Spain ' 337193-278 l**t 1.201 Holland Holland . 1'111 - '^ 024 Hungnry Iialv . / <^ 52 Irclnnd . . 3121— Nonvny . . 776780738 il 66 Itnly Portugal 208 2661— ‡ii •» 7 Luxemburg . Kumantn,, 136211144 6 462 Norwny c i rs257 9 46 — Swedcn ~7_ 10 Polnnd V Switzerlnnd ' in Portugal 281332275- Turkey in Europe " 138174150 " Swedcn . . ,Ji Slnvin """ Yugo . 11 Su it/i-rlanii. 238160226 ',".10,979 717410 fTUV,n V J. 11 868 9.472 Czcco Slovnkia l nited States. . .,,,,. — U** 1,192 Yugo Slnvin Argentino . 1',,,'° 'i Cuba ²— '" 102 United States of America 4.40316837,033 ciou- . n 36 México 271259195 /. 1 I ‡1 >' Colomhin . 1 Argentino 3.0452,4712,04i! ~ '., Pnrnguay . . 1 Bolívia . . 1 4 -. BDÕ 610 Chile v, !W 5113 I ruguny . . 'l 7 Pnrnguny li8 Turkey in Ásia .•~~ ²fc- 88 Ú 4 Peru* • • ™ 78 Uruguay . . 239291155 ÍTX] • i ²(54—' Eíyp» • 6 7 Venczucln Morocco 8 China . . 466324 T 1 . . / ' I iinis . . Jnpnn . . 413722 British Dominions:— 212 British Dominions:— Union South África279 202 ", 29 Union of Sontb África . . . 41 Canadá . , -1 Canadá . .  209672,18 Austrália! índia . . 162343163 índia . . ~7 8 New Foundlnnd . ... 215244301 Gibraltar 2l} ., . 3 Other 23 Opicr . . ò French Possessions 1 . æl80 fJJjHWi*»^;- ,„-, 142 Portuguesc Possessions . 22 1 American Possessions . . . 10²— 0ther ¦'•'•••.i\ 12 20 Dutcb possessions Portuguesc possessions . Sundry 1!)9 Possessions: — Spanish 12 ri 14 2041320,29120,467 Cananns l,í 8 Grand total ;; Othcr . . 6 Sundry . _^ J_____~_ 23,735 20,713 Ginnd , total, , L21.091) Imports by destinntion—C.I.F, value in Cl,000.

Thrcc months-—fanuary-Mnrch, 1927 Exports by origin—F.O.B.value £1,000 Thrcc months, Janunry-Mnreh, 1927. 192: 1926 1927

19251926 1927 Acre 673 936 072 Amazonas 94177117 Amazonas . ' 184 174 Parn . . 235340314 Parád  . . 456 , .. 392 Maranhão 605571 Mnranhão . . lJ_l _ Piauby 1518 U ¦•'1^5 249 Coará !;i:mhy _. 241 130220161 Ccarn . . 40 Rio Grande do Norte . . . 335353 do Norte »•] f Rio Grande '•' .! 71 Pnrnhybn 9289132 ,,ii. . i..._ i 4•' Parahybn 370 Pernambuco 9231,0671,099 . . ‡w, ... Pernambuco 1 o Alagoas 148199156 ,, . 22 Alngons Sergipe 4H1782 • • :"1.678 1 S07 1,55)4 Bahia . . 735.003740 ^g.ÍpCBahia . . _„_ ..,„. BJ9 117 Espirito Santo 896290 _ Espirito Santo . .... 56 2,737 Rio

àiJÉÉlrW«fir ..a i» v i rt_-,,," ":¦•-" ¦' ,; ¦':'WS&®8_Wy$QS>': ' 13 WILEMAN'S BRAZILIAN REVIEW. January 5, 1928.

United States. According to official Trade of Brazil with thc __ — United States from Brazil durm, the returns, imports Into the to 91,197,564 dollars, as against si; m( nths of 1927 amòunted t tho «rn. period i_ 1926, wh.«h t.r,. minW dollars during is déseriminated as follows:— —Jan. to June, 1927— \ \ VolumeValue //RADIOis-^f Ü lbs. Dollars 461,(.57.053 77,628,361 Coffee . . • ¦\^_]______=rfr- 21,181,258 6,724,204 Rubber . . 81,895,481 3,707.752 Cocoa . . •• 1,083,000 Nuts . - ••• 20^6,808 _f?70,574 1,577,111 Coai skins . ¦177,129 1,267,19(5 Sheep skins 100,004 Sundry . . 91,197,564 __®sL from Brazil during the first The volume of coffee imported 461,657,053 lbs., as against 174,8,9,9;,) mt 0f 1927 amòunted to of total value of imports K^íefacounted for 85.1 pev cent. Brazil m 192/. into lhe United States from ABSOLUTE PRECISI0N to »n.«.l d»r.n,| rtn- f« Exports from the United States as alam. 1927 amòunted lo 31.228,888 dollm-s six months of is same in 1926, which fn.t rates 27,841,984 dollars during lhe period Radiograms at deferreci articles) :- descri mi na ted as follows (principal handed ir) before midnight will Dollars be delivered witrjout fail trje 5,996,069 morning ir] any Aulomobiles- • • following part 4,276,010 Gasoline . . of Europe or the Urjited States. 2,789,109 Whcal Hour . - ¦ - 2,458,085 Motor Lorries . •• 2,438,416 Kerosene . . • • 2,3.64,887 DEFERRED RATES Locomotives . . - ¦onraDMn »™ 1,534,728 Coai 1,184,48:1 Pitch . 1$805 1,12:1,179 By word Jl YorK City. Pneumatic Tyrcs . 7,063,91 l . France2$600 Sundry . Engl. & Germany2$540 31.228,880 Total . . Italy2$830

first have of the last two The balance of trade during lhe - i YOUR ÍVIESSAGES years is as follows:— SEND .jau. to June Inc. or Dec. ²7 19271926 DollarsDollarsDollars -21.52W80 19.0 (rom Bra.il ÍU.197.5W U2,721,1H Impts. U.S. - I2.t I 27,841,1,81 ;U8.i,<,ü4 Lports U.S, to Bra.il. W«W -M.»»'.*» Brazil o^WTfi MXWM Bal. in favour of ^ lhe United States from There was a shrinkage in imports nto in exports to Brazil oi Brazil of 19.0 por cent., but an increase trade bclxvccn the Lniled States -S - 12 1 per cent. Nevcrlhcless, lhe 1. favour of the last numed, as shown ?T0ffices-Av.RioBranco--7?' and Brazil is greatly in the %k \ ,Tel.Norte436% above. % ?1 Cable advices from Ma- Financea of lhe State of Amazonas. the current year have nãos state that revenue and expenditure for Services of loans ,s pro- „èen estimated both at 13,855 contos. vided with 3,710 contos.

IMPORTANT NOTICE.

to Please note that ali correspondence, etc, posted BRASILEIRA "Wileman'8 Brazilian Review," whether to the Editor, | to IpkRADSOjaÊGRAPJÇA Manager, H. F. Wileman, etc., should he addressed "Caixa Postal 809, Rio de Janeiro." •"^ífSPSS"

January 5, 1928. \VILEMAN'S RRAZILIAN REVIEW. 14 ¦.•¦'¦¦¦•.** HOTEL Comer, Ruas MONTE ALEüRE & RlACHUELO CHEAPEST, NEW and UP-TO-DATE HOTFJ. IN RIO DE JANEIRO. !!_=-- also included our cepieciat.on account oi over one million, and OF COMPANIES. "t.w shown REPORTS & IYLEETINGS aeceptances lor cuslomers amounting to -2,147,000 fair compárison. separately, which again shows the diíficultj oi Bank of London and Soulh America, Limited. The sixly-fifth against Tbe last item, bank premises, stands at £1,484,634, ordinary meei ing of iliis Bank was held on December Kl, 1927, improve- £1,355,2:) 1, an increase oue to ceriam acquisnious and ai lhe Head Oif-ce, íi, . and 8 Tokenhouse, Varei, London, E.C. inents to our branches during this year. Mr, Lainhert \V. Midtllelon, who presided, explnincd that our Turning lo the proi.t ano loss account, and laking gross Mr. Bcaumnnt Peasc, was on a shorl business tour lhe Chairman, oi £i-__-,-.>- trom our gross pr.oluS £1,793,379, we íind lloarc, was charges in lhe Last. and ihe Depuly-Chnirman, Mr. Douro last of £149,024, a net profil oi £460,023, againsl a nei protil year confmecl by iilness lo his house. In this emergeney, as he (lhe an increase oi net profit Ihis year amounting to over £10,000, hail an opp.uiuníry in lhe earlier part of lhe year speaken had agree is a satisfactory result in view of Soulh wnich l.thiiiK you will of v-silinií most of lhe principal branches of lhe Bank in in lhe trade conuil.ons oi the pasi year. But as we broughl America, his rolleaguc_ had asked him li» take lhe ehnir. 1926, trom lhe foriner year only 131)0,605, as againsl £411,300 in flaving referretl to varonis chances in connection with lhe our net aváilable balance this year is £850,630, against £861,224 management. Mr. Míddleton prueceded:— Near. riom ihis amount we have taken £260,000 for de- report and ha lance sheet, iasl i will now a..k ;-ou 1" .uni lo the dividend last p.coatiun of capital and £141,600 tor our Ínterim and would first draw your altention to its two outstanding June; we recoininend a i urlher distribution of 7 per cent., making lealures. il cent. for lhe year, and absorbin.* £247,800, and we carry Th,. fi|-sl is lhe writ-ng-off, and, therefore, the total elimina- pér lurward £201,230. liou from our accounts of lhe depreciation tli.d has existed For lhe record harvest and lhe general prosperity of lhe Ar- maio years in lhe value of our capital employed in foreign cur- Hepublic during the past year are a matter of common rencies. We have effected this by providing £61-1,000 from our genline knowledge. There is no necessily, 1 am sure you will agree, for reserve, which nov, becomes a round three million, against a me io take up valuable lime by quoling sla.islics which capital ni £.1.5 I.i.nun. In laking £260.000 from undistributed profits, your appear in our "Monthly Review." For sixi.y-1'ive years the vicis- and by wriüni; ofl the balance from inner resources. development of lhe Argentine Republic have been By these transfers, which in no wa\ reduce your effeelive siludes ano closely accoinpanied by íliis Bank, and il is a pleasure and a resources, we are able to present you with a sheet elean of ali lejoiee in her suecesses. rjualifying notes, and this, we feel sure, will meei with your privilegc lo months a further of lhe historie npproA ai Dunng lhe lasl Iwelvc proof our own eounlry with Argentina, and of The second noticeable feature is that, in response ln modem friendship that imites lhe magnitude of our mutual interests, has been given by both tendencies, we give ilu publie more information ns regards lhe have lhe their representatives nnture of the Banks liabüities and asseis, and have divided our tiovernmenls, who raisetl slalus of We congratulate lhe two Governments advances from our bills and grouped our accounts under elearer io that of Ambassatlurs. also two eminent di- headings. on their deeision, und we congratulate lhe dislinetion has Our capital reinains nt £3,510,001., and our reserve, as 1 have plomals who represenl lhem on the which been said. becomes £3.000,0()(). conferred upon them. from a bank- Our currcnl accounts, depn.sits. ele., amount íbis year lo One of lhe oiitslaudiug evenls of the pasl year full funetions £37.950,700, as agninsl the Iwo separate items in last year's sheet mg point of view has been lhe resumption in of the war of CIU), 150,551 at our head officc. The difference is more apparcnl of lhe Conversion Ofiice. Since lhe beginning of Lhe the currency in exchange for when than real, and is partly due lo the rale of conversion, and also Office eontinued lo emit gold lo lhe fact that Ihis heading includes our Iransactions in forward required. but eeased lo give gold for CUlTcncy. Exchange, whieh are nalurall smaller now lhat stability of rales La-,1 August, however, lhe Olfice was authorised to give as demand currency, is more general. Vou will be glad lo know that lhe amount of well as lo receive gold on against lhe paper money enlrusted lo us bj the publie in current and deposit and fluctuations in Exchange are now limiled to the point at nceounts is. in facl, larger than last year. which il pays to export or import gold. The büls drawn upon us, whelher aeceptcd or in transit. âre For Iwo years the Republic has been entirely free from labour "Bills now shown in lhe one Uem, Payable," and amounl to uiirest. and lhe problem of uneinployment has presenteei no dif- £5,352,584. as against £5,229,044 last year. an increase of about fieully. The Argentine Government, by various means, are doing 11123,000, what lhey can to being lhe advantages of the country before Our aeceptances on accounl of our cuslomers amounl lo prospeetive setllers Lhroughout Lurope, and a very valuable eon- £1,639,271, against £2,117.5(37, and our bills for colleetion figure l ri but ion lo that end lias been lhe formalion of a Railway Con- at £12.519,751, againsl £13,145,131). lhe differences being ca used sorlium, wilh lhe full approval and assistance of the national by lhe less aetive trade conditions resulting. in great measure, authorities. It consists oi a Board on which are representatives from the General Slrike, and, of course, by Exchange also. of the railways, which lias legal status as a company, and which Turning lo the asseis side, ouv cash stands at £8,954,882, buys and prepares land siütable for settlement near lhe railways. againsl £9,90(1,9-8, a difference again largely due to lhe lower Such land is to be suh-divided. fenced, and provided with suilable rate of conversion. dwelling aeeomodation for the selected settlers', who -will be The next two items, bills receivable and advances and se- broughl lhere and given assistance in the purchase of stock, curilies. musl be compareci with lhe combined omnibus item in seeds and implenients. The general prospects of the schemé are last year's sheet. For purposes of compárison if we combine lhe most favourable, and an increase in lhe producüve population two items this year we get a total of £40.037,685, against last year\s of lhe Republic is hoped for in eonsequence. A cable from omnibus item of £44,546,322, but lhat item was swollen by lhe Buenos Aires received yesterdav stales:— kà .. '\

15 January 5. 1028. WILEMAN'S BRAZILIAN REVIEW.

slhuulaled by Lhe lower lhe Association, but the renewed demand ai advancuig value has allowed surplus stocks lo be disposed of -«•"_fí_*_-______»>_-. ^5^."^?? •»-* ' - and several oficinas to bc re-opened. rmos prices, demand With tbe easier political situation and lhe greater is looked for, and lhe outlook já_f2&-'-<'' .:'.**~-*' ; ¦ /.7>kP-íJJ85__Pr ror ,„,,,,,„, 0 relurn to prosperity &&?*.-_, • .: -*i_._- \$-.'*W^. de los hopeful than K -vas a year ugo. gcnerallv in Chile is much more a.u. rapid. sn much Colombhds progress has been consislent to tackle d, and ^i^^P so that her trade almost outstrips her facilities and Custom she is hiird-1-n.sscd for larger warehouscs, wharves "LOIDU" Italiano dc faina mu dial Quc. volume of Idílico producto houses tn dcal with tlie movement of lhe increased en las sienes. refuerza ei nervio óptico, fi-iccionando de lentes inerchandisc. cl canfiancio de los ojos. evita ei uso quita dias n. ihe Bank was opened at Cali. which septuagenários, recuperaudose eu poucos In Mav last a branch incluso ni syslem that radiates north, una vista enyidiable No mas miopes, presbitas is ,lu. cenll*c ()|- lhu Pacific Railway hope In «pen a sul.- vista debiles. soulh, cas! and wcsl. and very sborlly we EL the oi bank- PEDID HOY MISMO branch at Buenavcntura, where we shall be pioneers INTERESSANTE LIBRO GRÁTIS may he judged I mm mg ai that pari. whose growth iu importance UGO MARONE„ lherc to-day are, under Díreccion General: .. nriT _ the facl lha. llu- Customs duties collected Fal.-one al Vomero, 1 (Itaha) NAPOIJ four years ago. Plazi-a m * —* lhe sam.- tariff, si*, times as they were that nt llu- ___J_JL|__^)------_****MII<*l''*llIW»i»Wll*|W*'»rmr~*^—^— The credit of lhe Nal onal Government, and also rate nt Exchange indicates. "Economic conditions in lhe Argentine can bc considercd Provinces, slands high, as lhe present ravourablc fm- tlie oil-produc- materiais in good demand, especially wool and Large enfiei' exports, prospects satisfactory, ra\\ -,,., and hardwnrking rernuncrative to breeders, ia!1ds ., soUnd Government aiu! a pcaceable hides, cattie prices weaker, but still recent legislation reducing ali make for a continuai growth o\' Colômbia'* present sugar situation more promising dnv to population, of cereal crops proeceding under nornial 'Tour* production. Harvesting Antwerp, and surplus for export, branches in Paris- Lisbon, Oporlo and conditions and carcful estimates give probable lons, con- in New York and Mancvhestcr continue lo prove tons, linseed 1,700,000 tons. nals 100,000 your agencies whcat 4,200,00(1 business. and if continue., yield should valuable links with our Sm,! li American ditions for mai/.e so far exeellcnt, and, the Tlu. rcpor| .,,,., aeeounls were unanimously adopted, be exceptional. Influx of gold continues." been transacted, cordial votes of thanks of Idruguay are in a satisfactory condition, rornMl| business having The public finances aml In the d.rectors. .Jum* 30. revenue has were to lhe management and staff. anel it is reported that, for the year ended pnssccl continues to be The dum lerminaled again exceeded expendilure. The trade balance proeeedings for the first half in the countrvds favour. although the exports value as compared wit.i of tbe current year have decreased in is due rather to lower prices lhe first half of 1020. Tbe decrease Company. Ltd. The SLate of Bahia South Western Railway than to diminished quantities. Sl-tc of Itahla Sm.th Doctor Klizio -..._.l «.•..«ml v-,-,,, ... Ih. tbe able administration of lhe Prcsident, ri.lvU-cn.h LL/, Under Ltd.. was Ucld ou December 13, in cireles in Paraguay, Western IlaiUvn.. Company. Ayala, peace c< mtiuues to prevail political L.C. .,( s \rther Street King William Street, I affairsalta o.' the country show favourahlc progress ' lhe and ihe financial whn said: li is gralifying fo Bra dl lias cnjnycd internai peace and sir l« M Crisp, presided, During ihe pnst year accounts which. lhough showmg Washington Luiz. in supporl of linaril Io he a,ble again lo presenl order The Prcsident, Doctor *,, a satisfaclory result 1020, reduction n ,„,, revenue. dn discU.sc when de assumed offiee in November, ;, small ln his declarcd policv Tlie rcceipls amounted finances, and one nl tlie IV,,* ||u. liisl yeiir's working gross has given much atlention tn national lhe decrease of December ,7n.,.. 02 for lhe previous year, of his Administration was In nas., m lor tlie first official aets htly smaller tonnage nl cocou Lmler 11.is Law lhe milreis is __!d'-.i. being due In ;i slii last the Monctarv Reform Law. amounted i<> £37,411, aí approx.mately l')''l)-27 crop season Working expenses be stabilised, al least for tbe time being. expenses henig to in 1025-20. the ratio of working is not fully operat.ve, lhe rate m."<-l.'.:.!. less than 6(] f and, although lhe 1-aw yet cent. for the previous vear, figure \_ lhe Bank ri;tO,s"per cent., against W2.TA per has since been maintained al practically that Al»rl Ira» «»». ,..,rr some CUiUfi less. inflmmce nn the Kxchange market, and ,„.l „u- nc, 0f BraziVs conlrolling ã...!_7 lons in lhe tonnage earned, This Bureau, centred _,W_C_. dmwed a reduetum of the creation of a Stabilisatdm Bureau. increase. las- by in .,„ of revenue shmv a quite satisfactory Janeiro, is authorised In open branches s,ii;i,s', of in lhe capital. Rio de was showing an merease and hold the gold wh.eh ^.n.er traffic in particular good, U)Iulon and New York, and will receive lm- lhe stabi- ,h«„ ni» ,.«-¦-. —''d;;d-;" eventually lo provido lhe nietallic has.- „..r. ._.„*.ofVI 1 is destincd i-mp for llu- .lislrirl was «1.1.8,.. of recent externai loans has ,,i„ls. ...,.,...,_ lisatiou. Much of Mu- proeeeds ihe year wh c the uilos t,a,h, :1,aiusl ,;.).>,<><), bags for prev.ous been sbippcl ln Brazil. «'' »"'' ' already c-,n-i,,l by Mu* (1,->«? «- ^ the seas-m which began last July. is most ,„„„-,:,„, ]"'"«oi The coffee crop. for SI=.l,iH-«.li.m »«!. f.x.nB llu* voluc States havi- united to rc- ,,.,...<* ver».. Kxx-,«.* abundant, and al! the coffcc-grov.ing «.I **_» —"' "»'">f 'f "" substanUally Mu. ohlms „t r»_h..nlrl.v . -mlatt- Ncxl crop is expected tn he * ¦ i ll, ,",i i. h'is eon iiiued \ Cl > exports. year's since wnu-ii lhe i.dt nas¦ from this season would he linzili-.n Covernment. smaller, in which event du- surplus milreis. There appears lo He "I the slaple. steady al slightly uno\cv M. prr in undue inflation in tbe price with a corresdond- useful preventing ihai a permd talile raides, in Brazil, tn which reference was made everv iudication mo> The trade depression conditions generally m Bra.-l, such an acute form. Hial :ng improvement in business lasi vear, still persists, but no longer in is evidenced by lhe loans he looketl for. the credit of the country is impfoving whichabou! ;i iti io- very ... Ils f(M. lhe extension lo Itapira, effected. BraziPs resourees are he State which have been recently now been lormally approved I. bv nur Chairman last vear metres m lenglh, have and I share lhe view expressed couslruct,hould 1„ co,n- great, Gnvernment, and the actual work of developmení. wi eoiinec as to their steady coming monlh. This extens.on Bello Horizonte, capital menccil during lhe Avi branchi nt rm.toe 1*.,'*]-i-ani. \.asvm ",onened i ii*-u al of Ih, +" C.nla_ lhe „„. ,,:sli„, r-.il»-»>- -ill, llu* vullcv of Minas Geraes. on November 20 fertile one .n wh.cli Ihcie of lhe State through which il wül run is a /¦i -i n, ,,;ii-.l,. \í"ir 10,,íí-27¦ ¦ -¦•-' was one ni lhe district hc Turnmg to Chile, the niiia.ie >*-<" co.™ r.»,..!», Q*!ll,*.lnn.iinB preçcnl aml sales nt „„ ol,,,,l-, m-ny - that the industry has experienced, ho^vç-r. to K- deveio most difficult of lr.nsp._l ra-l.lli-s. '" Hon, recordei since 1022. Since June, 1-ck II the produet were lhe lowest country, lhe -Xl_n_.f¦¦! pl.e. ceased to dx he men. of .his inlormclintc the Association of Nüratc Producers do ..ni-tas and .leque >n when imp„rtan. cocoa-growing zones of Bio become more active; >t is Ime Hat cocoa crop selling price, the market has with the port of Ilhcos. Tbe than that hithcrto fixed by iljrcc1 conimiII1iCalion the actual per quintal is lower price \

.. .¦ -..-.¦ •-' 1 m

January 5, 1928. BRAZILIAN REVIEW. 16 WILEMAN'S -__'"\ *0*0 ²"-»¦" OSAKA SHOSEN KAISHA. ». s. "LA PLATA MARU" a will aail for«W^, NEW ORLEANS & GLAVESTON Los Angeles and Japan 16tk JANUARY NEW ORLEANS l:000$000 FIRST CLASS RIO / to— FIRST CLASS RAJL FARES, NEW ORLEANS B. C. S102.01, Toronto $47.56 Chicago Sa» Francisco $79.84 Vancouver New York $48.34 $33.76 a. Travei by railroad and see the U. to. - 6:200$000 ROUND THE WORLD TOUR Duration of Tour — 5 months. For full information apply to: and Santos Antunes dos Santos & Cia. - São Paulo Janeiro. Wilson, Sons & Co, Ltd. — Rio de

'jT ^ ^** £55,050, an increasc of nearly £12.500 over 90 days closing drawing rates:— of lnsl Rio-N.Y. cOrresponding period year. V The repor! uns adopted. Bk.ofBrazil OtherBks. Milreis N.Y.-Lond. Pence. Pence. to Dol. Dol. to £ 8*290 4.88 1/16 January -Bh, 1928 5 31/32 5 61/64 8*200 4.88 5/10 MONEY. Deccmber 28th. 1927 5 31/32 5 31/32 - 1/16 -rOírOlSO - 1/4 Officlnl Exchange Quotntiong, Camnra Syndical and Vales:— Rise or fali week ending PencePenceSightGohl The exchange market was undecided during the being 90 daysSight SovereignsDollarsVales this afternoon, with a tendency to weaken, rates quoted 15/10(1. to 5 31/32d., closing steady at Deccmber 29 5 01-fil.") .">7-<;i41S8008$3304$566 by foreign banks at 5 banks, or a decline of l/16d. from last Wednes- Deccmber 30 5 61-645 57-644l$8008$3454$566 5 lil/tild. in these Deccinher lil 5 61-645 .r>7-(')l11>3008Ç3554$56ü ' during lhe week was lhe consequence .lanuary 2 . 5 61-645 57-6441*8008|3534s500 The weakness registered impression left by the current yearV January :t á 15-10.") 7-84l$800K*3484|566 chieflv of the unfavourable understand that the President -1 57-6441S8008$8454*560 budget, which we anticipated. We January . 5 01-(il1. of .,f lhe Rcpublic will excreise bis power to veto the estimates expenditure in which case, lhe déficit may be reduced, Avcrngc . . . li 61-64 5 57-64 41*800 8|345 4$r>a:i parüally, íhere is a repor! to lhe effect that Dr. Washington Luiz Equivalent . 5.950.521 5.888.021 but inlends to incorporate an increasc in lhe pay of certain branches of. Public Services. If this report proves truc, it will be hopeless lo expect any improvemenl in lhe Budget. Thcre is uo doubt THE DAILY MOVEMENT OF EXCHANGE that ali branches of Public Services are disappointed at the failure Thurstiay, 29lh Deccinher. 1927, The Bank of Brazil posted oi lhe Government to grani lhem an increasc in emoluments, but, 5 31/32d. and forcign bnnks quoted 5 123/I28d., with money at at the same time, lhe financial position of the country cannot Cd. The market was quiel closing easy with buyers at 5 127/128d. counlenanec lhe enormous increasc that such a contingency would The New Vork-London rau- carne $4.88 5/16 and Paris-London cntail. On the other haml. pubBc servants have every reason 124.00 to the £. to claim an increasc in their pay in vicw of the low rate at which Friday, 301 h Deccinher. 1927. The Bank of Brazil posted exchange bas hecn established, When the President of the Re- with money the rate, he 5 81/32d. and forcign banks quoted 5 61/64d., at public sei his mind lo stabilise exchange at prcsent 5 127/128d. The market was easy and Business was done at apparently disregarded lhe cffecls of dei)rcciation on the cost 5 (il! (Mtl. The New York-London rate carne $4.88 1 1 and Paris- of living. London 124.00 to the E. With regard to prospects, wc are of the opinion that no mark- Saturdny, 31 si Deccmber. 1927. The Bank of Bra/.U posted ed change in the actual position of exchange will take place yet 31/32d. and forcign banks quoted 5 «i1 64d., with money at awhile in vicw of the faci lha! more gold proeceds of loans is G.'l/6-ld. The market was wcak and closed with banks at lo he shippcd to this country. We understand that another con- I5/16d. signment of £1,700.000 has heen shipped from Cape Town to Monday, 2nd January, 1928. The Bank of Brazil posted Brazil. With regard to the far future, we have nothing to add 31/32d. and forcign banks quoted 5 15/16d., with money at lo our remarks alrcady publishcd in these eolumns. 125/I28d. The market was quiel and closed wil.h buyers at The Minister of Finance has given a very important decision r> 31/32d. to an enquiry from a foreign company in connection with deposit "Caixa Tuesday, 3rd January, 1928. The Bank of Brazil posted of capital at the London branch of lhe de Estabilisação." 5 31/32d. and forcign banks quoted 5 15/10d.-5 121/128(1., with The Alliance Insurance Company, desiring to increasc its capital money at 5 125/128(1. The market was without interest. The in Brazil to 1,000 contos, asked to be aulhorised to deposit the New York-London rate carne 54.88 1/8 and Paris-London 124.00 difference in tiie Caix.Vs London branch in 8 per cent. gold honds to ihe £. of the last loan issucd by the State of Sao Paulo rcdeemable in Wednesday, 4th January, 1928. The -Bank of Brazil posted 1950. the amount in gold to bc deposited being the equivalent of 5 31/32d. and forcign banks quoted 5 121/128d. with money at 875 contos necessary lo complete lhe capital mentioned above, 5 G3/G4d. The market was quiel closing stcady with bank at which received the Ministcr's approval. Thus, ali doubt in con- 5 61/64d. and buyers at 5 127/128(1. The New York-London rate nection with the deposit of capital in the trances of the Caixa carne $4.88 1/16 and Paris-London 124.00 to the £. abroad is dissipaled.

'¦ -¦¦,,v>í;:^>í* ¦i'vi.4- -A,':- ;«:-h'y 3ti-t* .:¦':-.v.:-;.v .£W; • M ! Í <¦:¦ ' '" ' ¦ ¦ : '¦ '. '.'V JJ ' ||fjj s^^ ;^'?''--";-4; .'*'¦ .'¦''¦¦ -. J >\#. '"'.¦ .¦/'. '¦¦..¦¦' 17 January 5, 1928. WILEMAN-S DRAZILIAN REVIEW. :a--' EIO AND SANTOS, IN £1,901. Av. per Rice Hides Lard Sundry* Total dien? No. of days. CoffeeMang'eseMeatSugar Beans Cotton 237 1,350 1,000 1,131 29,64181 total, 12 months, 1918 18,0992,0463,230967 1.64T 2011283942,47081 Monthly average, 19181.50317126981 137 26192157081 Weekly average, 19183473?,6219 32 525 1,501 2,193 778 81,374 223 Total, 12 months, 1919 ...... 67,880939* ÍTÍ38 1,299 1,197 1,924 44 125 183 65 6,781 223 Monthly average, 1919 . /... 5,65778262108 100 160 10 29 42 15 1,565 223 Weekly average, 1919 1,305186025 23 37 2,853 1,116 432 362 66,392 182 Total, 12 months, 1920 51,037 Ü7Í 2^57 Í^Ü4~ 556 3,004 321 93 37 30 5,582 182 Monthly average, 1920 4,253164238100 46 250 74 22 8 7 Í.277 182 Weekly average, 1920 982376523 Vi 58 306 469 207 110 35,864 98 Total, 12 months, 1921 31,635 1,012 . 1,367362~ 391 26 39 17 9 2,989 98 Monthly average, 1921 2,6378411430 33 6 9 4 2 690 98 Weekly average, 1921 60720267 7 379 98 74 45,011 123 Total, 12 months, 1922 41,815631914W 796 23 2 31 8 6 3,760 123 M-onthly average, 1922 3,48453~"24 66 7 2 1 865 123 Weekly average, 1922 80413185 15 ~44Õ 56 473 461 76 47,655 131 Total, 12 months, 1923 4.V7ÍÜT *1^~ 294 780 6 39 39 6 3,971 131 Monthly average, 1923 3,0453711124 65 1 9 9 916 131 Weekly average, 1923 841266 15 "Í85 67,435 82 333 75 16 Total, 12 months, 1924 65.425 392 Í708280 28 6 1 5,618 185 5,452 33 901 7 Monthly average, 1924 1.297 1«5 2 7 1 Weekly average, 1924 1,258 8 21— 494 24 70,704 191 12 months, 1925 07 584 694 72912 1.100 Total, 41 o 5 892 194 5.532 58 611 97 Monthly average, 1925 1,359 194 22 9 Weekly average. 1925 12961314~ 1926. 6.439 208 — 16-23 §Month January 6.2019515 186 — ²²15 5.217 §Month February . 5.0841162 5,068 163 — B²16 4.95697— §Month March . B²12 4,886 163 §Month April 4.851 .22²— •213 4,629 150 5217221 — SMonth May 4 B²12 4,066 136 June3,024121 8 186 gMonth 151424 5,781 July 5,50710426 5,542 179 SMonth — D19 August 5.3946661 187 §Month 1924 6,607 of September 5.50057 2 5,784 187 §Month r 2030 gMonth of October 5.63293 Bâ 41 2 4,488 150 November 4,3586519 10 4347 118 gMonth — 43 §Montb December ..*4,74437^ 02,311 176 04 37 271 14 months, 192660.852945170 5,194 176 Total, 12 5 3 22 1 average •' n:'V}U % 1,198 176 Monthly 1 V4 % 5 Weekly average U7018~~ 5,739 185 - Pl §Month of January 5,66443— 19 4,498 166 §Month of February 4,444305 35 4,844 156 §Month of March 4,7023611 30 1 3,714 124 of April ^331436 119 gMonth 13 41 1 3,688 5703031 4,550 151 gMonth of May 3 5 11 31 5 June ,-*.3260200 149 §Month of 4 72 4,020 4,550 147 §Month of July 4,39331112 17 40 ¦•¦'.30747138 5.107 173 §Montb of August 48 58 September ... 5,0003940 6 2,116 301 gMonth of 3 9 October...2,09014- 1,232 170 Week ending 6th 4 10 October. 11722119- 218 Week ending 13th 1 1,452 October..1.12024 1,000 152 Week ending 20th 2 23 217 Week ending 27th October..1,017144 9 03 6,726 6,45):J92 343 §Month of October 62 •> 18 2 308 Week ending 3rd November.2.3323115 ²13 1,207 172 100 Week ending lOth November1,1384010 _ ²5' 600 216 Week ending 17tb November004— _ ²14 1,510 183 Week ending 24th November1 403207 B53 5,502 134 §Month of November5.3745617 ²12 035 Week ending 8tb December..002163 ²3 1,800 271 Week ending 15lh D-ceniher.1,81449 ²7 1.297 185 22nd December1.285²5 606 87 Week ending 27 29th December5589 4,504 150 Week ending 5 ²37 lst to 29th December1-38066 Meai 'Sundr.cscomprisçCocoa. \u hneco. Quito nseed ind Mandioca §Subject to alteration.

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January 5, Í928. REVIEW. \VILEMAN'S BRAZILIAN 18 THE STOCK MARKET '27 '27 *-'i^.£r 31 Dec. 24 Dec. 31 Dec.»26 BRITISH subscr»pt;8"r ubsabt Unlf ormisadas . 44cn00 140SO0O - 135S00O HUA SACHET No. 89 2nd Flobr 4o7$000 903/8 behind the Jornal do Commercio Building) 5 cent 93 (juoi Brazil Funding, 1898, per 831/4 78 1914 new••• 831/2 THE L1BRAR1AN FOR Ditto, 59 1 / 4 571/4 53 APPLY TO "íempornry Conversion, 1910, 4 per cent.. 77 1/2 cent.....-.- 94 3/4 94 12 100$P00 yearly or Ditto, 1908, 5 per 76 711/4 MEMBFJRSH1P, Dlstrict, 5 cent... 76 Membership oi special role Federal per 251/2 26 Brazil Railway 234 233 107 1/2 during your short síay' in Rio. Brazil Traction 190 182 S. Paulo Railwayín.ul'" 59 374 491/8 Railwayou MANY OLD fc VALUABLE B00__3 Leopoldina 6 3/4 6 3/4 8 1/8 Dumont Coffee, 6 per cent. pref. 9 BOOKS OF FICTION Mining Ord.. 10-3 10 LARGE BÜPPLY OP MODERN st. John dei Rey 86 83-9 Mills ..••• 85-9 DAILIB8 AND ILLÜSf RATED WESKLIES Río Flour Bank of London and South 91/2 & AMERICAN ffiAGAf.I-fBS IN CIRCOLâTION * 10 3/8 10 3/8 BRIf ISH America 93 73 83 Royal Mail Ordinary 5 cent, British War, Loan, per 101 100 S/8 "Caixa (Stabiliaation Office). 101 1/8 Gold In the de Estabilisação" 1920 55 3/8 54 5/8 54 "Caixa" its equivalent value in 21/2 cent The in deposit In the and Consols, per 61,60 60.00 55.60 gold .51 and rente, 3 per cent and "Caixa'* notes in circulation on December French 82.15 77.60 64.40 currency, Ditto, 5 per cent• 52.65 are as follows:— 67.50 64,30 24, 1927, Ditto, 4 per cent.. .»?..•'• Descriminntion Value of GoldEquivalent in milreis currency of ííold in respectivo currencies «Closing Rio Stock Exchange. 81 Specic -.v. bulliou: Dec. 24 Dec. 31Dec. 24Dec. 117.247:092.? THE RIO MONEY MARKET Sterling £3,619,580 £3,619,631 147.245:037$ 214.910:316$ U.S. Dollar- . .. $20.717,607 $25,711,127 5.14.973:4821 Exchange rates at sight, Rio on:— 14.565:885$ Dec. '26 Fra nes fcs.9,031,36a fcs.9,030,865 14.566:6915 31 Dec.'2724 Dec.'27 31 BB5.651:3573 5.651:760$ 57/8 6 Sundry . . . • ¦ • 57/8 5 57/64 5 5704 5 115/128 London pence $334- j Paris $329- $333 $328- $332 Ç339 382.436:567-* 382.384:053? c44i__ C445 $445 $380— $382 Total Specic . .. Italy S440— 1Í165- 1S173 1*165- 1S170 tt"8- 1*183 Gold Bul. (Har:) grs.íírs. Belgium $440- 53.175:08!? «414— $420 $414— $420 $445 . . • 0,571,676.602 0,571.676.602 53.175:081? Portugal 8$510- Fine gold New Sork.' 8S350- 8S360 8$330- 8S360 8$540 8S350-8$360 8$340- 8S360 8$S10~ 8$530 435.560:033? Canada. • • Total deposits . 435.612:548$ 8^197— 85360 8S195- 8S-00 8$130- 8$160 B. Aires, gold... 3$520- 3$524 B. Aires, peso.. 35582- 8$200 3*5570- 3S593 Sweden 2S261— 3$596 2S252- 2S263— Circulation:— 2$268 2S257— 2S261— "Caixa" Notes in Circulation 435.607:310? 435.554:620$ Norway 2$239_ 5:413? lanan*'.:.:::'.'... 3S910— 2$245 3SB78— 3S844— coins in circulation 5:238? ,apa" '3415-1S422 1S2Ô0- 1$300 Divisional Soain 1*415- 1Ç4221S39S-1S39S- 1S4061$406 18280- S055-S055— $060 §055§055 $060- 435.560:033? Roumania Total circulation 435.612:548? "__?_)?.*."!: .S996-2S0051S..0- 2S0011WB4- 2|030 "Caixa" week shows 8$6908,660- 8$67585ô78- 8$o90 The movement al the during lhe Montevideo 8S680- week:— Holland 3$380- 3S3943S370- 3$387- the following changes, as compared with the previous Dec. 24 on Dec. 31 Value oi f sterling rate... 40$421-40$58l40$421-40$581- Milreis at sight Gold Value of 1 sove- 2:055$ Sterling . . . £51 + reign, buyers.. 41$500 41S500 — ²54:166$ 4 5 16/o/o 4 1/2° .'o Dollars . . ..  $6,480 Discount London 4 5/16°/- — 806? üo. Bank of Eng- Francs . . • ¦ fcs.500 5°'o ²403? land 4 1/2V 4 l/2o/o Sundry Specic ¦' 3 7/áo/o Do New York... 3 3/8° Io 3 3/8% ²52:514? Total Specic . • _tlí;'ü Bullion . . S. PAULO STOCK EXCHANGE. ²52:514? S. Paulo, 3lst December 1927. Grand Total . SELLERS BUYERS "Caixa" There was little change in lhe movement at during "Caixa." Bonds. .. ²780S00O the week. Nevertheless, gold is still leaving the State of S. Paulo Treasury pasl Ditto, 1921 905SOUO890$000 S. Paulo Municipal Bonds 6 °/u 75S0OO — Ditto, 1909 88SO0O83SO0O TO THE ADVERTISER. Ditto, 1910 88$00085$00O 1913 81$500 is Ditto, Your nim in placing announcements in a paper primarily Ditto, 1913• —.82$õ00 because you know that what you offer mects the eye of persons Ditto, 1925 90$000 85S000 raost likely to he interested. Once readers are interested it Banco Commercio e Industria... 7405000725$000 the enquiry into business. Banco Coiniuer. do Est. de S. Paulo 309$000306$000 rests with the advertiser to push good °/o) B|25$000 "Wileman's numbers amongst its readers Banco de S. Paulo (60 Brazilian Review" Bank of S. Paulo 101S000ÍOO&OOO any standing North-Western every coffee, banking, export and import house of Cia. Armazéns Geraes ae S. Paulo. 180S000155$000 in three conlinents. It is rare for an advertisement to be with- Caixa de Liquidação drawn. The inference is obvious. Mogyana Railway Co 2O4SP0O200$000 Paulista Railway Co 281$t002798000 WILEMAN'8 BRAZILIAN REVIEW. Market active CAIXA (POST OFFICE BOX) 809. <( <." i. WILÈtàAfc-S BRAZILIAN REVIEW. jfanuaiy 5, 1928. _ » .

______J-_H-B3«~"~M»~»~~«»i I C&n PATTT ( RAILWAY - Time-table, until further notice Tra,n^ ^ ^^ Tra.n_ leaving SANTOS tor SAO PAULO¦ IS.Paulo Santos Remarks S. Paulo Santos Remarks depart I arrive depart arrive __— not avallaúle. 8.39 n.ilv Excursion tickets S. 2 6.00 Sundays & Holidàys. Buffet Car & 9.00 Daily. 745 9.55 Daily; ékcept s. 1 6.20 S. 4 numbered seats. s. 3 7.34 10.00 only. Pullman Sundays B^H«olidayB_--B»ill-!.a-i C;.r~~í3_" 10.19 K_aysU&d_?8rfollowing holidàys S.0S 10.03 Daily, except s. 5-A 8.15 seats.. numbered seatsT" Car and numbered lio- days, except Mondays & days follo.v.ng 10.34 Daily. S. 5 8.25 10.19 Week seats. S. 8 8.11 Car. lidays. Pullman Car & numercd 10 10.00 12.42 Daily. Restaurant S. Daily, Car only on Working 10.25 12.55 Daily. Restaurant-Car. S. 12 12.15 14.40 Pullman from April to Au- S. 7 Pullman Car on week days only. Days, and not on Saturdays S. 9 12.47 1524 Daily with Uuffet Car. 1627 mist Inclusive. uly, and S. 11 14.00 and Holidàys. Pullman Car only during April, May, June, 16.31 18.25 Btíl^cení Svmdays E. 2 | 14.00 16.05 SatuSays & lst class coaches only. S. 13 Car on week days on y & numbered August. Pullman Car S. 15 16.47 19.02 Daily, Buffet seats. Excursion tickets not available. Daily 14.30 17.12 Dail^^ S. 17 17.18 19.45 ••¦- «*»£* S. 14 ..nt ou Saturdays of Apnll to August. 21.05 Dâújj; , R-StorantKesiauram __.» . Excursioni_._v.u»^»w» .tlckefc i,.i;,..,»¦, Pullman Car S. 19 18.50 Ça,:-.seats. on Sundays & Holidàys Daily íxcept on Sundays e.lloüdays. ile. numbered S. 16 16.15 13.09 seats. only. tie inimbered S. 18 17.00 19.34 Excursion tickets not available. S. 20 18.50 21.11 SllíjíSSaurSltar.

Sundays and Holidaya only. '•¦: coaches only. only. F.5.508.OS 2nd. Class Sundays and Holidàys |j lst. Class coaches only. seats. )6.358.53 only. 8.15 10.25 Pullman Car & iiiiinbered _nd. Class coaches F. 1 numbered seats. F*7.109.29 co-cbes only. Buffet Car. 3 16.10 18.24 Pullman Car & lst. Class numbered F. coaches only. F.7.3Í)9.47 Class coaclies only. Pullman Car & F. 5 18.15 20.31 Second-Class F.IU8.0010-05 : lst. 21.54 seats. F. 9 19.25 only. Pullman Car & numbered Car. F. 11 20.05 22.10 First-Class coaches F.1419.201 21.4'J 11[| Pullman seats. — » .¦ .._ rnllorl th. «U«Chicano «^ of South America» and whose caUjd he , its b e have ample time to ascend SAO PAULO oiu_ -«u ªbreezvdate t, TR4NSIT PASSENGERS calling at Santos usually jo*prosperuy city, s tuated on a tab- TRANSIT PASatMfa-n» forest-clad mounlain range know conteniporary ~ls Ulcsl£ sof the named American "l~™widc or, lh. SOrns. trains will, at an Uour's ,lütlC0'^(.^ íeet above sea-levc , uu^JS^^^.nVtres, important as the «Serra do Mar» ; special leland 2,700 os. VAstreets, & bySâo Pano Ra. way tron Sant Possesse tlieatres, exce uiHopf, etchUccture public buildings, ,,--,-and ___ [loral _. each Peçon.^^^ .„ üme [or lunch at the top rr _,.i-üu„ ^ ^ 3 ^ aU> giv|ng terL,r.<^r__]s_i,_b«-;t da Serra»). climate bland.. .,n of the Serra («Alto usually visit the: city oi „i,.„t, ... .,_n Passengerers írivtaf firly at Santos can also Paulo leavL São ; „ for the rapid despatch ot ali des- ^\^^_r&_,8lffi-U^'^TK-io-_-_« cious Wareli0cuses0are perteiy 4-lpped "-"' "s!oaVl5ufoü M h, - bose IM .=ctto„ bega„ i. .860 IN MO P-UIO SfATE tf £_& ^ BUSINESS ^ftaUud^SÚÔte.! fi^h^^ftt^T^nl SZ »d°?»d Xl'--Wl,. - 6eCUrÍtyThe Sectiou» of this Department. I-.df.ed Planes on ^^r^^£^Vip^Sí S_aüogn SÍd PubSSatlon The Superintendeu.. science and perseverance. geológica?-charaeter-süeso:.tw'&°™railway unes ov u a t. A. JOHNSTON, render construcüon and maintenance of 1/5/27. such as to care. work demanding the utmost paüence, skill and COFFEE. l^8. RAILWAY NEWS. Rio dc Janeiro, 4 th January, LEOPOLDINA RAILWAY COMPANY. TH*! Closing Quotations:— RECEIPTS. ESTIMATED WEEKLY TRAFFIC SPOT. -New York- l I w TOTAL Receipts for Week Rio -Símtos- Bfrom Rio Santos Year Week Ended ---—— 4s 7s HUanuar,^ 7s 4s 73 | ^^ _s,er„ng "TTÍ-/128- ai$ooo 14% c 21 %c 19 %c "ifeí- 28, 1927 ~.«-r00OI 60.032 £ 2.326.420 December UVic 2Vác 19 %c 23S968 31$000 «_.-N. January -1, 1928 .. 6 20,3-2£ 39.277 £ 2.277.134^ „26 25thDcc. 1.-6=000» Rise . . §573 • «-286 1.2 7 _!.W 7.128 ,«J0.W Ditto, % ggg — Santos — New York Decrease.²a"" Rio OPTIONS. Mar.May. Jan. Jan. Feb. COMPANY. THE SÁO PAULO RAILWAY 328950 13.41c 13.29c 1027. 24$200 33$075 TRAFFIC HECEIPTS. December 28, 13-50c ESTIMATED WEEKLY 338500 338475 13.5Gc 4, 1928 .. 24$475 TOTAL January Week Receipts for 0.21c '.' from 8525 0.15c Year Week Ended 8275 8425 ExchangeSterling lst January Rise 1.1 1.6 Currency. i 1.1 1.31.6 mt Uo. 10 kilo.» New Vork, per £ 40,260-0- 6£ 2,837,864-15.2 Rio*»- Santos', por 1927 25th Dec. 1,860:0893000, 5 31/32 . , / . i, .n.iii... 29Lh December, 1027). 5 57/64 £ 38,850-13-8,£ 2,363,463-7-8 ., rc\"mt.|./»1 IWC__LC CnU.lI-fcj —ut-it 1926 26th Dec. 1,582:882*000 *& thaf the icndcnc, _.-_-" Th° ._:: í-StLvl £ 7.409-6-10; Increase.. 277:2075000 5/64 i\x:zp^-:¦;::::: 7':^:z^i 25.608-12-6 Decrease. "' '"' • np-ember 1027,•"*«, under the heading Errata. In,' our issue.,..—ne o» ucccinoci 22~--, Isl January Railway Receipts column of total from of Sao Paulo "decrease. "increase reado reading of £30,621-1-1," should

r-' :LM__ílÍ ™"-•jm.. v - --•_¦-• ¦'"¦ ':'•'wmm.

lf ¦>* ^m yf-.'.--_•' January 6, 1928. 20 WILEMAN'S BRAZILIAN REVIEW.

20fe cts. rqást, l.avo beon sold up to ,?¦¦•??»»•»•••••??? good-bean. stricüy soft, good the time of writiug 20% cts. per lb., selíers nsking at business in January The wbole sitUnÜOii poihts to very aelivc considcrably liigher nnd ue look for an improved de.naml and BANK OF 10ND0N i SOUTH markel does not let Santos down once prices, as lòng as the Rio now that the Federal again. a contingency which appears unlikely. 'BíS Government bas mntters in liana. 3 "Pauta" in Santos at 39000 per kilo, lt AMERICA, LIMITED ínsteÁd of fixíllg the 2|8Q0 kilo is now officially announccd uial the rale will be per of cpffec vrill be Authoriscd Capital. £. 4,000,000 and it is expcctcd thal very large quanütiés t>vo. Subscribed Capital. £. 3,540,000 dcspatchcd cluring the nexi das or and with the Capital . £. 3,540,000 Exchange ratiier qtiieler, witb Sferling at 6d. Paád-up Reserve Fund. . . • • • £. 3,600.000 boliar at 8*200.

O I Rio de Janeiro. 8 Tokenbouse Yard—London, E.C.3. 1 Companhia Registradora e Caixa de Liquidação do o HE AI) OFFICE—6, 7 & we

¦ "rr". HighestLowett MANCHE9TER PARIS f 'i^r.' Sellers Buyers Sellers Buyers S6 — Charlotte Street. —Rue du Helder 24*300 24*100 Deeember 24$700 24$500 24*200 24*100 BRADFORD ANTWERP January 241400 241250 24*250 35 — Hustlergate 10—Rue Nationale Febnutiy 24$500 24$425 241350 24$375 24*275 Ma reli . 2Í-Ç500 241500 24*400 24*275 YORK LISBON April . . 241600 24$425 NEW 24?400 24*275 —Wall 44 — Rua Áurea May . . 24$600 24$425 67 Street 24fl5o 24*400 24*850 June . 24$550 Total sales of futures during week 72,000 bags. OPORTO—9—Rua Infante Henrique. COFFEE PRICES CURRENT. During tbc week ended 29th Deeember. 1927. BRAZIL Rio de Janeiro, São Paulo, Santos. CurHyba, Porto Alegre, Ave- Dec.Än Pelotas, Rio Grande^ Victoria, Bahia, Maceió, Pernambuco, 232420272829 race ~ ~T|Tf~ Ceará, Maranhão, Mandos Pará. Juiz de Fora; Bello Horizonte. RIO—milrcis 10 kilos 7 T" T T per 24.376 24.376 24.4113 Market N. 6 24.172 24.376 24.649.24.649 ARGENTINA 23.752 N. 7...... 23^91 23.695 23.968 23.968 23.695 23.695 Buenos Aires, Rosário. Bahia Blanca, Tucuman, Mendoxa, N.  ... 227470 22707-» 22^946 22.946 22.674 22.674 22.730 Paraná, Concórdia, Cordoba. . N. ü futures, URUGLAY Spot Nn. 7 Montevidéo, Paysandú, Salto, Rivera. Deeember 24.17* 24.3CQ 21.325 24.100 24.300 24.300124.250 24.175 24.200 24-.26(1 24.250 24.250 24.200 24.220 Ínn>aryTcbruary 24. Ti 5 24.275 24.300 24.350 24.325 24.275 24.300 CHILE 24.325 24.350 24.400 24.350 24.333 March•• 24 275 24.300 Santiago, Vnlparaiso, Antofagasta. April 24 25(1 24.300 24.325 24.325 24.350 24.350 24.316 t May 24.201 24.250 24.275 24.27» 24.325 24.325 24.275 Sales -bags 11.000 nll 27.000 25. 3.000 16.600 17.C-0U PARAGUAY SANTOS-Milreis Asuncion. per 10 kilos. Spot No. -I 31.000 31.000 31.000 31.000 31.OCO 31.000 31.000 ot No. 7 30.000 30.000 30.000 30.000 30.COO 30.000 30.000 COLÔMBIA Futures. Deeember 33.100 33.100 33.000 33.100 33.000 33.050 33.058 Barranquilla, Bogotá, Medclün, Manizales, Cali. january... 32.9ÜÜ 32 900 33.000 32.075 32.950 33.000 32.962 1 :cdruary . 32.750 32.850 32.950 32.950 32.725 32.829 Pi 32.750 ° ° Sates nll nil 1.000 1.000 4.000 6.000 3 000 AGENTS AND CORRESPONDENTS IN ALL THE PRINCIPAL N YORK, cents .. CITIES OF THE WORLD. per lb. Spot Rio No. 6 .. 14 5/8 14 3/4 14 3/4 14 3/4 143/4 The Bank is affiliatçcj to ªNo. 7 .... 14 1/8 14 1/4 14 1/4 14 t/4 141/4 12"c Spot Santos No. 4 . 21 1/4 21 1/4 21 1/4 21 1/4 211/4 X ªNo. 7 . 19 1/2 19 1/2 19 1/2 19 1/2 191/2 LLOYD8 BANK UMITBD Oplion s: — , Marcli.. » 13.42 13.55 13.41 13-46 13.46 . May.... » 13.32 13 40 13.29 13-30 13.32 Paid-up Capital and Reserve Fund over £25,810,252. 13.17 22 > July— » 13 24 13.31 13.17 13 . » Septeinbcr 13.24 13.25 13.11 13.11 13.17 20.000 20.000 15.000 23.750 Sales 40.000 To which Bank is also affilialed •i HA VRE 50 Kilos franes ." i March 4S21/4 484 3,4 485 431 1/2 483.37 May 4671/4 469 3/4 470 465 1/2 468.37 OF LIMITED. 4521/4 THE NATIONAL BANK SCOTLAND July 4481/2 452 4493/4 450.62 Septcmbcr 4491/2 453 4531/4 4503/4 451 62 3.000 2.000 1.000 3.500 Sales 8.000 Paid-up Capital and Reserve Fund £2,450,000. HAMBURO- Rpfe 1/2 kilo per over 1850 Branches * Options: — The three Banks provide in ali 77 78 78 77 1/2 77.62 March the principal Trade Centers in Great Britain, South Am- May.. 74 3/4 75 75 1/4 75 1/2 75.12 72 1/ 72 july...•••• ••••• • 72 1/4 72 72.25 erica, Europe, índia, Burmah and Egypt. Scptember 71 1/2 72 72 72 1/4 71.93 Sales I nil 1.000 nil 3.000 2.000

¦ ¦ t *_?,:¦ i. , !$£<__ January 5, 1928. WTLEMAN'S BRAZILIAN REVIEW. 21

COFFEE CLEARED FROM THE PORTS OF RIO AND SANTOS. -Total Crop- Crop to 20 December Week ended 1925-26 1926-27 1927-28 Inc. oi* Dec. % 29 Dce. 1926-27 ' on 1926-27 * -f 87,477 United States . ... 6,768 390 6,985,37'.) 0.514,595 8 764,008 249,413 7. 1 -f 53.0 France 1,306,455 1,117,378 470 091 722,005 252,004 0.942 23.0 French Possessions 143,898 156.430 82,448 102.120 + 19.078 521,781 509.206 ²12.525 2.4 Italy . • • • • • 1,014,172 868,870 4,000 025 ²3,875 04.-1 Fiume 9,800 5,06:5 8 8 521 ²5,316 00.2 United Kingdom 18,005 13,780 810 9,303 6,437 ²2,866 80.8 íí) British Posses: (ex discriminatèd) 10,053 18,604 10.112 10 375 + 0,263 01.8 Canadá 28.460 22,237 Cuba . . 1,450 113 188 4- 75 00. 1 Tangiers 750 626 *.:ü 101,966 09.220 2.7-10 2.7 South África . 200286 187.601 40,125 55,78.8 -i- 15.018 88.0. Egypt 06,207 70,115 270,462 116,965 150,494 + 83.520 28. 7 005 Belgium 281,989 898,067 -lio 765 404 711 -l- 23,946 :.. i 438 Holland 97*1.088 185,894 102,407 84,860 17.007 17.2 2 938 Denmark 158,921 47,120 28.518 28,738 -I- 5*215 22.2 1,825 Norway . . 42,310 4 14,592 2 I! 220 2Í5,177 20.010 10.8 Sweden .  482,212 49,902 17 335 •18,025 • + 31,590 182.2 Spain and Colonies .. 29,197 34,972 17.882 19 787 + 1.905 10.7 210 Portugal and Islands 34.221 407 021 458,594 213.573 211,643 1,930 '100.00.0 8,710 Plate and Pacific ... 798 1,247 440 1.100 711 Japan aud East 33,022 101,370 111,884 82,201 48,639 40.9 8,0 7!r- Finland 1,001 488 50 388 80.0 Syria 500 Switzerland 29.8 23,055 24,849 16,104 11,810 4,794 Greece and Crete .. 1.085 27.5 5,375 8,950 6.138 4,453 Smyrna -fl 55.2 11,437 10,860 7.275 250 4,010 Roumania 00.5 1,575 3,120 2,875 988 1.487 Bulgária 25 Palestine 187 17.7 125 2,375 3.000 1.187 1 000 Port of 4,952 20'. 2 Dantzig, 21.015 37,068 24,569 29,521 Turkey -104.005 35,910 8.0 9.480 551,008 849,275 440,815 370 66.7 Germany 126 689 564 188 Tripoli . . 7,045,161 f 501,894 8.7 117,871 12.705.217 12.882,903 0,488 207 72,498 ²21,912 28 2 8,220 Total . . 158,887 171,110 94 110 Coastwise 7,117,659 • 580.082 121,094 12,859.134 18.004.013 0..")77.077 Grand Tol ai in lhe Rcgulating Ware- Interior of Sao Paulo Stocks. Stocks from the ports of Rio and Santos during Clearances overseas and Cruzeiro Warehouse on .November 30, and Cr-p to Date houses railway wagons the week ended 29lh December, 1927, against 11,040,475 bags on Week 1027 amourited to 12,271,821 bags, as bags on November 30, 1020. Crop to 29 December - ended OctoberO 81, 1027, and 1.108,18o 20 \)cc. Bags Flags:— Bags % Bags % 81.5 30,587 stocks British to U.S 844,010 Supply in lhe United States. The United States 5.8 75 Visible To Europe . . 55 416 supply on .lan. 3, 1028, were as follows, 13.2 800 deliveries and visible Sundry 130,077 deliveries 158,000 bags; in bags of 00 kilos: stocks 558,000 bags, 1,037,003 11.7 81,522 bags including afloat, as against. 504,000 Total . visible supply 1,264,000 28.8 54,210 on December 27, Other Flags—American 1,993,108 224,000 bags and 1,188,000 bags respectively 11.7 8,463 bags Brazilian . , 1,085.081 "593,000 150,000 bags. and 1,208,000 bags on Jan. 4, 1927. 8.7 ind bags, Italian . . 011.048 517.422 7.8 8,803 Scandinavian . . . •j 147 249 0.8 Dutch . . 00 548,082 7.8 3,842 December 31, were as follows, in bags of French . Havre Stocks on 525.145 7.5 10.087 sorts 152,000 bags, total German . . kllos- Brazil sorts 218.000 bags, other 203,800 2.0 "365,000 and 888,000 bags Japanese bags, as against 182,000 bags,, 150,000 bags 103,577 1..") 005 Belgian . . 21, aud 84,000 bags, 151.000 bags and 10 825 0.8 respectively on December Spanish . . 102 285,000 bags on January 1, 1027. Finnish . . 0-15.101100.0 117,87 1 Total 7 TO THE COFFEE TRADE.

"Wileman's Review" is subscribed by every coffee and Bahia on Deoember 29 (exeluding Brazilian Stocks at Rio, Santos it to say as compared with of any stauding ali over the world. Suffice interior stocks), show shrinkage of 14,733 bags. firm and "Wileman's Brazilian Review' circulates in 32 countries for by increase of 200 bags at Rm that December 22, accotmtcd in Brazil, 17 bags at Santos. in 120 different cilies and towns, including 31 5,826 bags at Bahia, but shrinkage of 20,828 and United Kingdom, 15 in Scandi- on the same date were dislnbutcd in the United States, 14 in the Total stocks at three ports 3 each navia, 0 in Finland, 4 each in Germany, Italy, Japan, as follows:— Belgium, in France. Holland, South África, 2 each in Argentina, Rio de Janeiro 350,655 Peru, Vene- Guatemala and Java and 1 each in Uruguay, Chile, Santos ª000,517 Latvia, Roumania, Aus- 60,745 zuela, Salvador, Áustria, Czechoslovakia, Bahia trai ia, índia and Dutch East Indies. in "Wilcman's Brazilian Review" will, Dec. 20, 1027.. 1,401 017 An advertisement Total stocks, three ports, important coffee importers and 1,410,050 therefore, meet lhe eyc of ali Ditto, December 12, 1027 above. 1,252,858 dealers in the countries mentioned Ditto, December 30, 1920 p*u »-» tv- » ,-- ,j|fa **¦« .'V

' ¦-.:¦'v ',:¦¦.'..'..-'•¦.-¦¦-.-,¦¦¦ '.-¦¦'; - - ¦ ' '•¦¦ ' "', ; .v.-¦.. '¦¦;--'""' ¦'¦'¦% "''¦ WyXt, ¦-¦'•¦-. !¦•'..--''¦".¦-. "' "' ,; *'¦¦:.':X.--Jxf'x¦;'¦¦':'¦¦".-'¦¦ ' *.'¦ - ¦" % .¦¦¦¦.- f;' January 5, 1928. WILEMAN'S BRAZILIAN REVIEW. 22

"¦ ¦'¦¦: ¦ COMPANY. THECALORIC DIESEL OIL 437 FUEL OIL 437, AVENIDA RODRIGUES ALVES, FOR 449Í FOR TeUphont Norte OÍTERNAL INDUSTRIES RK) *m JANEIRO. OOMBÜSTION "Petrolwrl*" RALWAYS TolofTaphlc Addroaa ENGTNBS 1 -?,;,!&' STEAMERS p. o. Box ms.

BAHIA .nd SANTOS F«l Oll «.««_ .tt-PAHX, PERNAMBUCO. DRüTffl STEAMER'8 BUNKERED Tank Trocki BARÕES "¦¦ PIPE LINE ALONG THE QÜAYS. Tank Cara j THROUGH Wall.t.0.,., I«- *** Marl*. ettltettet fom.ah.d Íor Bom.ng Comole,. g

CDST AND FREIGHT QUOTATIONS.

The quotations are os follows:— ';:•>;> and Freight Prices. American, Brazilian and Cost %Santos Rate Rio 7s. Rio 7s. Santos NearVictoria Victoria Rio7s. Cents 4. Reis 4. Cents Freight Month7/8s. 7/8s. f.o.b Re's Spot Per Per lb. Per Per lb. Cents -Exchange- Store N. YorkReis per Cents bag Arroba f.o.b. 10 kilos f.o.b. per N. York OptionsArroba Perlb. cents cents 1927.Pence Dollars 18.25 40.00 14.30 39*300 14.90 29*500 8*420 15 3/8 15.05 335500 18.15 60.00 January 7th 5 7/8 14.40 38*400 14.80 20*600 7/8 8$410 15 1/2 14.70 335000 18.50 60.00 January lllh . 5 14.25 37*800 14.80 29*000 8*380 15.00 14.58 31$300 18.00 60.00 January 21 st 5 29/32 14.15 38*200 14.80 27*200 31/32 8$290 15.00 14.54 31*500 60.00 January 28th 5 14.10 37*500 14.60 26*500 17.60 15/16 8$330 15.00 14.25 31$000 17.10 60.00 February 4th 5 100 14.00 37*400 14.60 26*400 8|290 14 7/8 14.07 30? 16.50 60.00 February llth 5 31/32 13.70 30*000 14.30 25*500 31/32 8*290 14 1/2 13.72 28*700 February 18th 5 14.00 37*500 14.60 25*800 10.80 60.00 31/32 81290 146/8 14.18 suooo February 25th 5 14.40 37*800 14.85 25*900 16.85 60.00 8$290 151/8 13.65 315500 March 4th 5 31/32 37*700 14.90 26*200 17.10 60.00 8$310 151/4 13.70 32f000 14.00 March llth . 5 61/64 38*200 15.10 20*400 17.20 60.00 8$310 16 13.00 33*000 14.70 March 18th 6 61/64 14. 70 38*400 15.00 26*000 17.00 60.00 8|310 161/4 13.98 32$500 March 25th 6 61 /64 38*800 15.00 26*100 17.10 60.00 ' 16 1/4 14.02 33*300 14 ,70 Aprü lst 6 15/16 8$330 38*000 14.90 25*500 16.75 60.00 8*340 16 13.83 325300 14 70 April 8th 5 59/64 14 .40 38^200 14.90 25*400 16.60 60.00' 15/16 16 13.81 31*800 April 13th . 5 14.20 38*000 14.50 25*400 16.60 60.00 8*350 15 7/8 13.58 31*800 April 22nd 5 59/64 13.90 37*000 14.40 25*000 16.30 60.00 59/64 81350 15 3/4 13.33 30*200 April 28th 5 14.00 30*500 14.50 24*400 16.00 60.00 8$350 15 5/8 12.73 30*200 May 6th . 5 59/64 35*100 14.15 24*200 15.90 60.00 8*350 15 1/2 12.48 20*200 13.80 May 12th 5 59/64 35*000 14.00 23*200 15.40 60.00 15 1/8 12.30 20*300 13.00 May 20th 5 119/128 8$340 13.80 23*400 15.65 60.00 15 3/4 12.75 28*700 13.30 35*000 May 27th 5 15/16 8$330 ,13.30 23*700 15.90 60.00 5/8 12.55 23*700 13.00 33*200 3rd 5 15/16 8Ç330 15 23*200 15.40 60.00 June 12.30 20*000 12.20 31*200 12.50 5 59/64 8*350 14 7/8 15.90 60.00 June lOth . 12.45 27*200 12.60 32*500 12.90 24*100 59/64 8$350 14 3/4 16.15 60.00 June 17th 5 28*300 12.00 32*500 12.90 24*400 29/32 81370 14 3/4 12.46 15.70 60.00 June 24th 5 27*400 12.30 31*800 12.70 24*000 55/64 8*410 14 1/4 12.43 16.10 60.00 June 30th . 5 27*100 12.40 32*200 12.70 24*000 59/64 8$360 14 12.87 60.00 July 8th 5 12.90 33*800 13.30 25*300 16.60 59/64 8*390 14 1/8 12.32 28*300 July 15th . 5 13.00 34*800 13.50 26*500 17.20 60.00 15/16 8*330 14 7/8 12.39 28*000 July 22nd 5 12.30 33*200 13.20 25*700 16.80 60.00 15/16 8$330 14 1/4 12.32 25*700 July 29th . 5 12.70 34*000 13.30 20*000 17.00 60.00 119/128 8*340 14 1/4 12.93 27*000 August 5th . 5 12.30 32*400 12.90 26*500 17.25 60.00 119/128 8$340 14 1/4 12. «0 25*100 August 12th 5 32*000 12.90 26*000 17.00 60.00 ',# 119/128 81340 14 12.54 25*000 12.00 August 19th 5 11.70 31*600 12.50 25*700 16.85 60.00 15/16 8$330 13 J/2 12.30 21*100 August 26th 5 11.60 31*600 12.10 26*100 17.00 60.00 tf. 15/16 8*330 13 1/4 11.59 25*000 September 2nd 5 11.70 31*800 12.40 26*300 17.20 60.00 15/16 8*325 13 1/2 11.83 24*700 September 9th 5 11.70 31*500 12.40 20*709 17.40 60. Oü 61/64 8|300 13 1/8 11.88 21*300 September lfith . 5 12.00 32*200 12.05 28*250 18.35 60.00 123/128 8$280 13 1/2 12.30 25*500 September 23rd . 5 12.10 32*400 12.90 30*150 19.40 60.00 5 31/32 8*270 13 7/8 12.85 25*400 September 30th 32*500 13.00 30*250 19.40 60.00 /:v~o 8$275 14 12.73 20*200 12.40 October 7th . r> 31 13.20 30*500 19.65 60.00 8$250 14 12.97 20*300 12.50 33*000 October 14th jj 125/128 13.90 33*200 21.25 60.00 8*220 14 3/4 13.78 23*000 13.15 33*800 October 21stK^rf 34*300 13.60 33*700 21.50 60.00 63/64 8$245 15 1/2 13.45 27*800 12.75 October 28th 13.00 34*300 13.70 34*500 22.00 60.00 5J 63/64 8$245 14 3/4 13.63 23*000 November 4th . 33*500 13.20 33*800 21.45 60.00 5 81/32 8$280 14 3/4 13.00 20*600 12.70 November llth 12.50 32*850 20.10 60.00 8$295 14 3/8 12.74 20*700 12.40 32*500 November 18th . ASHÍÍ. 12.20 >*275 19.20 60.00 88280 14 1/2 12.40 25*500 11 .70 32*000 November 25th . V2/«7 12.60 331000 19.60 60.00 8$240 13 3/4 13.02 25*000 11 .90 32*000 December 2nd . 6 63/6 32*400 20.25 60.00 8$250 14 13.27 261500 12 .20 33*400 13.00 December 9th ,•>] 125/128 31*150 19.70 60.00 8$200 14 13.16 20*500 12 .40 33*500 13.10 16th . 6 81*700 20.10 60.00 December 8$ 100 14 1/8 13.30 20*800 12..20 34*500 13.20 December 23rd . .^«/SL 13.40 31*950 20.20 60.00 2uo/2ob 8*215 14 1/4 13.43 20*800 12.40 34*800 December 30th . 5 •*-*-?-v*f''"-.'.f •- -•" •¦ *, i ':'j '-/;'¦'':•. '"¦ -**. ¦ -í—¦¦:¦ •'""'¦ «.'¦,»' . ¦..'¦'..

!' 23 WILEMAN'S BRAZnJAN REVIEW. January 5? 1928.

on this thcory-buying March and scllmg 15, 1927. A e.ablc received switches made based Nortz & Co'8 Circular of Decemher execution of these orders was suf- of coffee m ware the distant montbfeand the on Mondny statcd tlmt llio stocks some extent. Whcthcr fron, Brazil Novn,b ficient to cause differcnces to spréad to railroad cars. sUtions ctc o-, secn. liouscs in the interior, will a further widening remains to hc compared to 11,010,000 bags at eonditions justity 30th ámouhted lo 12.271,000 bags, were very firm in thcir ideas up to the ;l on Noveinhei- 30 b 10 6. Rrazilian shippcrs end of October nnd 6,897,000 bags were reported at 20.00c and 20.25c the to 1,032,000 bags, end of last weck and sales at Santos duríng Novembcr amounled 4s. Since thcn the Santos and Récêipts interior wárehouses C & F for well-described Santos total movcnicnt into sight between and exporters sbowed more ,o tlialthc lt was stated Brazilian markets have been easicr November was 2,254,000 bags. Sales of 3/5s, well- s during in lhe disposition to raeet thc views of the buyers. aU coffee will havj heen received at T;hn« Ume,Wm described, for January shipmcnt, have been reported prices end ot December. Wheüier tos proves shipmcnt „t • l wárehouses by the ranging from 19.75c down to 19.50c 3/5S for immediate is approaching when we shall fmd.out 12.85 C & F Me or not, lhe time sold at 19.05 Rio 7s for prompl shipmcnt sold at sii*c of the curren, erop. Up to UUe niore abóiif the actual offered at 12.60. Victoria 8 phis 20 sold at 12.30 bags, fi-om ivlnch and 7/8s were there have hecn reCeived 12.024,000 At the lower prices buyers DecemClst. used when C & F and 7/8s were offered at 12.50. 15.000,000 bags. figure commonly is steady, ll^ears tl at lhe showed a good deal of interest. The spot market quite spot are Miíd Coíombian coffees on thc July lst. There ^s cspecially for grades. coffee that was received before offered. Hard Bean Bogotas sold, cxcludins "Rio co cc again very scaree and there is little cable reading as follows: 28%c. Howcvcr, it is diificult to Tnone puhlisiied regula mg we- for December shipmcnt, at -15,000 bags-stocks in even at a considcr- TccoZci officLly-add henee- interest anvone in coffee for latcr shipmcnt Rio local consumptlon shipmcnt WM scmi-ofricial 305.000 bags, discount, although a sale was reported for January first Ume that nny ncws able VoOO bags monthly." This is lhe toU. regulating wárehouses at 27.25c." about lhe stocks in the dono here in Wtished Nicarágua ha, hn received There wasdl.) alsoüi.;.-. .(.'.¦•*some business menUnned seems raüier small,—m ... _iLLatlvanced»,.,-.,i WEZthe cpiantity at 22%c Gost & Frelght prices were again sharply as high as 5/& müüon bags that the Rio erop has heen csthnated abont last week's leveis and our future market, 2,187,000 bags have been yeslerday to up to Deeember ninth. only reactionary earlier in the week, again M ffiM wheu lhe loa whieh had been somewhal Rio agains, 2,112,000 bags last yeai, ^ivcd'iai rece.pts up o hecame firmer. 3,038.000 bags, nnd agains, issucd to date. Usually, the cZ mouuted to totai «.un, 45 December notices have heen of<• 2,383,000o'«--.'í fino lintrsbags, when the licpiidatton but ali same date Iwo years ago, circulation of tenders hrings out considerable and apparently of the notices this month were. stopped promptly month. there is si ill quite some interest in thc currenl scem to So far as the future of the market is cohcerncd, wc been for some bc in the hands of the Braz-Uans, just as wc have during the past 8$S -^—-si- time past. Their success in borrowing moncy r?.»r r: ssts in a position only .,0,800 year seems to have placed the Defeuse Committee t' e°op2'"r— -° current erop, abouf which StloS/o oi tne touii --, relianec can be to carrv out iis piaus for marketing the i „ of rmirse we Xdo not cspeciallyknow now um*-... in thc scason. A bags. Of cou.se, we as the the wholc world was frankly skeptical earlier ficial figures given ahove, esi including the controlled placed on the semi-ot survev of the world's suppücs of coffee, frcnucn.ly require encouragement to the bears, which seems Rio statisties anout„,,„„, theuit amount stocks, alwavs gives has heen received^fZ\T so f.u world, and it is an easy matter No informalioninforma ^ Thcta to include most of thc consuming Dcen^^ gt Howcvcr, thc Com- of coffee, M any, that has to figure out that prices are much too high. -,,,-. of November amountea to the defeuse of the article and up ioin thetlm endcn WQ0 two years mitlee has perfected its plans for last ©aceordingbagg througb with 489,000 bags the same Ume 3ear, to has sueceeded in borrowing ctíough moncy to go consuming world has noth- a*-, The world's visible was the program. On lhe other hand, the ^\™.efCo lc.4 ltu"ar Sug Èxehauge, lower thc. figures of lhe New >oA • ing to figbl with and bases its expectation for prices prin- 5 bags I.-.. break down through 5.040,580 bags, agains, 4,564,0 cipally on hopc that the Brazilian system will wholc unieitiuc is of<• 485,521iQ^noi íiniísbags, bulbu thc December disturhances and dissension and that the self-imposed merease Xdifferencelst, totaled economie an seanorls. which, on heavy for the skill and resonrees of those in the Brazil «i «m «.«.i «--•-*-- 0f lask will prove too i 1 oíti nnn h-vs last year, drinking coffee for sevcral 1.513,800 bags, aga.ns, «W»*V1.., supply „ in charge. If thc world would stop m tiT, true; until thcn thc 549,800 bags. The «ncrease, therefoie, months. ali bearish predictions might come lhe their methods. The of hiue help so far ns bags. Brazilian* will no doubt continue present lst consumption receipts at Paranaguá up to %^\^Z?Z%£iDecember requirements of the world are known; if anything. - , was ™P^fa date, will exceed last ycarV Abput ten dáys ago ,MBms this year, iudging by the figures to legalize rcs|,,clivc, much coffee the world in the Braziliau Leg.slature to fl3 Tt is a simple matter to calculate how Ms(atcs in «hnt this month. thcn next month. A reduetion ,W™ "-; lha, the Defeuse Will lake if not Th isI adR na P-ooffm. help to scll more coffee but, well as Sao Paulo.í;nnThi'; every prices in ali prohabüity would not to chance Du frightening buyers Committee will leave nofhing on lhe contrarv, might thuve thc effect of ""- ‡]|e arranges tn to ca,-,,- out .1, V1.-™-U less. Therefore, the Defeuse Committee ; eonfiugeney order into taking "„Pp,c«,i, to suit the world's requirements and heen ruuioi-c, fhr tiiue, ,here the entries to the scaports ^'""^bul up to thc restricted to 12.000 bags daily, waits for the consuming trade to step in and pay pricc. this re^.hc has heen no confirmation of and V et na »»1< subjcclo{1 The ncws Um, receipts in R.o caused -^^^^ tp better con.ro, no, only It of clmng^ differeuces. THE GAME OF POKER. market bnUalso had the effect helleved ™^°J^L<% had hecn general,.»- cldiverable VTANNA CALABRTA. wou^d '^Zum BY ANTÔNIO and Vietorla coffee. Ihere months 7circulatedon ,he near coffee here wh.ch wonld*pr«T%ent • AND 8^ as FIRST ENGLISH EDITION OF A SC1ENTIFIC ,ha, there wouia^he^enough a„d possihiy ^ ^^^ TREATISE, WTTH 593 EXPLANATORY due to force thei 3^ COMPREHENSTVE each month hecame liquldation. LOVERS OF THE ?d»^ D«njo FORMULAS AND 12 TLLUSTRATTONS. suei, as was lhe case temperar TO OBTATN A GAME OF POKER SHOULD NOT FATL ,t is now helievod. *^«*f. REMARK- enun, to lhe OF TITTS MOST TNSTRTTCTTVE AND ViCoria arç. "^^» ^f^TUntity COPY . to enter the poris, the BOOK. PRICE 6S000. ON SALE AT THE 0 n.onths shipmu ls ^SaP,(lclivcrabic ABLE LTTTLE preyious ot ae coffee here OF THIS REVIEW AND AT ALL PRINCIPAL for the accumulatmn of stocks OFFTCE chances on thc near -nonuo-. are rathert-u small™,»ii and,^-irl theretherefore or prcmiums ^^ BOOK-SELLERS. the tuture. are ükely to mie once more in

• . M /%*"

January 5, 1928. WILEMAN'S BRAZILIAN REVIEW.

OUR OWN STOCK. COFFEE STATISTICS. In bags. of sixty kilos. 350.386 1927- .... -• • • • • • ‡ RIO- Stock on Dec. 22 48 857 week ended Dec. 29 1927 ENTRIES. Entries durltiu 399.243 48.588 lhe week ended 29Ín December, 1927. e»;^_Dec 29 1927 Düririg Loaded (Embarques,, foi-week Local consumption on Dec. M \ú£< TO 350.653 THE WEEK ENDED FOR THE CROP AT RIO ON Dec. 29 1.127-.- FOR STOCK 22 1927 1.011.345 SANTOS - StòCk on Dec. 181.366 Entries for week ended Dec. 29 UHf.vv 22 Dec. 30 Dec. 29 Dec. 30 1.192.7íl Dec. 29 Dec. 1926 1927 1927*926 1927 Dec . 291927 202.194 Lòàded (embarques) dUrlrtg sanièVèek 990.Bl7 Dec. 29 1927 Central 8* Leopoldlna] 2 191.132 STOCK AT SANTOS ON 48-857 56.339 57.604 2.166-885 54.919 By rail on Dec. 22 1927•••••• «AH1A- Stock 1927. 24.615 9.660 156 867 124.202 Entries during week endeii Dec 29 Coastwise \ 79.534 2 323.752] 2.315.334 Total Rio 48.857; 56.339 67.264 18.789 Clearances durillg same wceK. 4.568.804 60.745 181.366 179.859 207.133 5.355.514, on Dec. 29 1927. Btock at Bahia Santos Dec 29 1927.. 1.401.917 StooU at. Rio, Santos and Bahia 1.416.650 7.679-266 6 884.138 doaodoDec. 24 »»«¦• Santos 230.223 236.198: 274-397 do 1934.. 1.252.853 Total Rio IV do dododoDec. 30

for the Crop to Dec 29 The total entries by the different S. Paulo Railways were as follows : Per Rcinaimn at Total at at p;,stSorocabanaTotal S. Paulo othersS. Paulo Santos OF COFFEE. lundiahyand 51355.514 MANIFESTO b 4 004 342.625 5.3)6 795 1927/102 J711 096 4.568.804 1026/1027 3 587 454931 642 4.669 RIO DE JANEIRO.

1927. During the week ended 29th December, SALES OF COFFEE (DECLARED). 29lh December, 1927. & Co 3,500 During lhe week ended 1 (;/12—A raça j ú—N. Orleans Ornstein Dec.22 1927 Dec. 30:1927 & Co Dec.29/1927 25.039 Ditto.. Battermann Moc 41.203 55.121 & Co '25 Rio.... 221.000 78.000 Ditto., Sion Santos 198.000 276.121 103.039 5.125 Total 237208 Battermann & Co 50 20/12—A. Jaceguay—rLeixões & Co 2,600 Ditto—Havre Ornstein & 500 DittoÄ Vivacqua Irmãos Co Vivacqua Irmãos & Co. 125 COFFEE LOADED (EMBARQUES). Ditto—Rotterdam &3 Ditto., Ornstein & Co h December. 1927. During the week ended 291 3,338 Tn ba«* of sixty kilos. American Coffee Corp. 1,650 21/12—W. World—N. York V * TO Fontes & Co... 250 DulMNO WEEK KNDÜD POU Tlll! CROP DittoÄ E. G. 1,900 Dec. 29 Dec. 22 Dec 30 Dec. 29 Dec. 30 1927 1926 1927 1926 Vivacqua Irmãos & Co. 400 1927 23/12—Andalucia-—Montevidéo 1,500 Ditto—Buenos Aires .. O.rnrtcin & Co Vivacqua Irmãos & Co. 500 2 193 046. DittoÄ Rio.... 48 568 52.806 55.577 2.162.178 202.194 217.134 162.689 5 221.350 4.843-988 Santos ~269J40 2.400 219.16617 383.618! 7 037.031 E. G. Fontes & Co 1,375 Total Rio & Santos. 250-782 21. 12—Cru x—11 ei si a gfors & Co 400 Ditto Pinto' Lopes < Ditto Theodor Wille & Co 250 250 VALUE OF COFFEE CLEARED FOR FOREIGN PORTS. Ditto Ornstein & Co & Co 125 * Ditto « ••Battermann.„ - « During lhe week ended 29tb December. 1927. Wille & Co 250 Ditto—Trondbjem Theodor bngs of sixty kilos. Co ,125 "•• In Ditto Ornstein & a-'-' Co 125 '"ti:"- Ditto Pinto Lopes & Dec. 29/1927 Wille & Co 125 Dec.29 Dec.22 Dec.20 Dec. 22 Crop to Ditto-Bergen Theodor 1927 1927 1927 Co;...... óib 1927 Ditto—Oslo McKinlny_&^ Wille & Co. 125 Paus Bags S. £ Bags Ditto Theodor Lopes & Co... 350 275-994 1.960.438 6 748.162 DitíòAbo Pinto Rio 29.774 76.750 109.107 250 DittoÄ Ornstein & Co...... 197.789; 449.301 1.008-699 5 084.723; 23,216.968 E. G. Fontes &*Co.. 125 Santos 83.1001 ,\~ DitloP 558-408 1 261-693, 7 045.1611 29 965 030 250 Total 1927/1028 117874 274.5i0 Ditto—Copcnhagen Ornstein & Co 31.416.721 do 1926/1027 . 192.706; 34.701 861.601 351.735 6.483.267 4,500

McKinlay & Co. 75 COFFEE SAILED. •24/12—Holbein—Leixoes ... week ended 29th December, 1927. Pinto Lopes & Co 3.000 During the 21/12—Schoodic—N.Orleans ' In bags oi sixty kilos. Ditto© E. Johnston & Co 550 3: 544 Dttto ., Oswaldo Tardim & Co TOTAL 250 EUROPE» OTHER CROP Rebello Alves & Co UNITED RIVER FOR DittoÄ MEUIT,.R. COAST CAPE PORTS TO DATfc PORTS PLATE WEEK STATES | RANtAN I 4,344 •25/12—Vandyck—Barbados ...McKinlayMcKinlay &„ coCo. io75 32.3'.»4J2.025.27S 13.253 13.261! 3.2'^0 3 260 & Co87/ Rio - 88.100 5.092 381 Ditto—New York Arbuckle ;/• Santos... 74.299 13.342Í 459 Ditto American Coffee Corp682 Exportação250 Ditto" Cia. Santista de 121 094 7.117.659 I927/Í928.1 87.5521 26 603i 3.220J 3-719 1,884 3.114 2.994 195.820 6.577.677 1926/1927.. 134.3I0Í 55.402 Theodor Wille & Co 860 2(i/12—Voltaire—B. Aires ..

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25 WILEMAN'S BRAZILIAN REVIEW. January 5, 1928. Andrade Junqueira & Co. 1,000 Dltto M. C. Coelho & Co 875 Ditto Ennor & Cia., Ltd 750 Bremen Dltto Rapbael Sampaio & Co.. 706 Lloyd Ditto Silva & Co. ... 500 Norddeutscher Ditto Roberto Freire Barros & Co 500 Next sallings Ditto Ltd 250 Llsbon. Leixoes, Picone & Filhos, for Bahia, Madeira, Ditto A. Levy. 250 La Coruna. Boulogne S. 250 Viao. Dltto J. C. MelTo & Co s/m and BREMEN Ditto Wright & Co. 250 Ditto Martins. 250 9 January ,T. Aron & Co S. Cordoba.... Dltto Bueno & Go.... 250 31 Ditto Sampaio 200 Werra Bartholornei Serra & Co...... 6 Febru ary Ditto Leme Ferreira 200 S. Morena, Ditto Cia. ttae General Agcnf 45,596 Freight and other particulars apply to For & Co 250 CO. Hard, Rand STOL.TZ & (23/12—Crux—Bergen Soares & Co. 125 HERM, * Franco 75 Avenida 66-74 DittoP Tbeodor Wille & Co. Rio Branco, Dittoª . 250 "NORDLLOYD" Cia Prado Chaves».. Caixa 200 - Telegrams Prado _ Co. . 125 SuírSÍlsin^s".'.".'.. Almeida 825 Wille & Co. 1,875 & Co... 200 «28/12—Arizona—Copcnhagen Tbeodor Aires. Rapbael Sampaio ^u & Co• 250 23/12—Kr. Margarcl—B. Chaves•• Ditto,. Sion Cia. Prado _*™ Ornstein & Co 188 Ditto» Ditto_• & Co 125 300 Ditto . ª McKinlay Ranrl & Co... 125 Coffee Corp 7,000 D.tte.. Hard, -N. York American Ornstein & Co 125 04/12—Vandyck- Jobnston & Co 3,500 Ditto—Reykjavik 125 E. Ornstein & Co Dltto Freire Barros & Co 2,«w" Ditto—Dantzig 175 McKinlay & Co..... Ditto S. A. Levy J50 Ditto-Helsingfors 125 Ditto l.gg E. G. Fontes & Co. J. Aron & Co Ditto Sinner & Co. 125 Dltto Wright & Co.... 1,500 Ditto Alfred Martins, Ditto Tbeodor Wille & Co...... 1,500 3,238 Ditto Cia Brasileira de Café... \,5W Tbeodor Wille„,... .& Co,-...... 150 Ditto Hard. Rand & Co l,05ü 3-8/12-Bayêm-Lisboi, Ditto VW J™- Cia. Leme Ferreira Ditto-Rotterdarn ? ('•? lFoiüe °J™ "& u"Cotoe500 Ditto Prado & Co 80" Ditt -Hamburg E• Almeida Wille & CoJ" Ditto IsraelW„"! &X. Co.Cn IO\) Ditto Tbeodor Lcon 750 Alfred Sinner & Co1*5 Ditto Nogueira & Co.• Ditto Uma U>* 691 Hard, Rand & Co»¦-> Ditto Junqueira, Carvalho & Ditto Ditto Exportadora. 500 S. Mogyana 500 1,205 YMtto Andrade .Junqueira & ^o.. Irmão & Co... 500 Ditto Exportadora 500 •29/12—Argentinier- -Antwerp Tude S. Nacioanal 462 Rand & Co... 280 Ditto & Co•• Ditto Hard. Sion 300 Rebello Alves & Co. 125 Ditto Rebello Alves & Co Ditto Ditto Gepp & Co..-. 250 Naumann, 250 905 Dltto The Asiatic Trading Co. Dltto 28,703 Total Overseas 29,774 «VaudyckV' ma- 500 bags in ihe is a difference of SANTOS (Tberc in our next issuc). V, nifest which \vi 11 be corrected ITO. Dnrinfi Ibe week ended 29th December, 157 Aires. Eugênio Tauher 24/12—G. Belgrano—B. C, Poceia & Co Co... 2,000 10/12—O ran ia »B. Aires The Asiatic Trading " 1,000 & Co.. ... 1,733 24/12—D'Entrccastcaux—Havrc Rocha & Co. HamburgNanmann. Gepp Ditto Co• ‡ 467 21 /12—I\I. Sarmiento . 1,375 Nossack & 375 S. A. Levy..... DUto Wright & Co...* Ditto Rand & Co . 1,152 -Nantcs Martins, Ditto Hard, Ditto- da. Prado Cbaves . 1.125 3,842 Ditto . 750 '.'.'.'.'.... Tbeodor Wille & Co Ditto Mello & Co 375 88,100 Ditto J* C. Lima Nogueira & Co.. 375 Total Overseas Ditto ...... Sampaio Bueno & Co... 375 Ditto 375 s. Nacional Exportadora. Ditto Sampaio & Co. .. 285 VICTORIA. Ditto \[Rapbael 250 Lcon Israel & Co Ditto Serra & Co 250 1027. \\\\Bartbolomci ended 29tb December, Ditto Prado & Co .. 250 During tho Weck Ditto " Almeida ...The Asiatic Trading Co. 5 750 Ditto Ornstein & Co.. ••••?•• -Guarujá—Alg-ers ^ & ^°. 500 8.675 22/12 Vivacqua Irmãos 250 Dittot,** Irmãos & Co. Rand & Co 7,018 vivacqua 941 22/12—Scboodic—N. Orleans Hard, -• Wille & Co. E. Jobnston & Co 4,500 Ditto—Oran Tbeodor Dltto & Co. 4,220 Ditto—Marseilles 2,441 Ditto Naumann, Gepp Leon Israel & Co 3,854 Ditto 3.ÍKU 1 oen S. Nacional Exportadora.. & Co... ' Dltto & Co . Hard, Rand 1,500n Ditto E. Struckmeyer «Í«b 0«ean_Orleans Sobrinhos & Co Ferreira & Co 2,225 o8/.__Schoodic-N. ^ra_ l,gg Dltto Silva, Ditto ..;;; Santos A*>£os American Coffee Corp A"0" J ••_'"Vianna0. *_*o. - •• Ditto 1,753 Ditto n Leal & Cia. Brasileira de Café... » " Ditto Trading Co... V-^ Ditto** 10,250 Ditto The Asiatic Ditto Nossack & Co 1'JjJ .'Tt, Prado Chaves .~12^9- Ditto Cia. J.^" Total Overseas Almeida Prado & Co Ditto & Co Jr>'|jh**™ Ditto Lima Nogueira

¦-'.^'V :.:/ s-S-J&__4 ¦•x ¦..»-. '¦ ' •¦' •--• ;*¦¦ >:,' r :¦-:¦. , •

'¦¦' "''"•-v'r '¦¦''" £';'"-.'""í'^''"'v'v' «messE»!! :-1I3jSe§ " '¦¦-¦ '.,.¦.*-' -.,. * **¦ s-« • • .- ,}.-¦¦¦¦¦ i* .1 ææy' . ' r tx 7 ¦¦-.'.¦,*'"*.¦¦¦¦•-..:..,'¦ January 5, 1928. wn_EMAN'S BRAZILIAN REVIEW. 26^^ (By Cable). The move- Pará Rubber Movement and Prices 31, 1927. REPORT. during the week ending Dec. PERNAMBUCO MARKET ment of rubber at Pará was as follows:— Kilos our Correspondent). (From • • 4 559,178 Stock on December 24, 1927• ¦ 1927. 31.. 1,420,140 Pernambuco, 24tb December, Entries during the week ending Dec. 5,979,318 i i n.i,* with"' firmer tendency. The Available .  1»W sk'a" SUGAR. Vm** ?"d .£'™^i ,„ thc United of "TT^J^^JL,* Clearances during thc same week:— _hi„,nc„i of 3.M0 Ums "*"*» ~ conaid ral^ To United States • has eascd lhe situation here Kingdom Comento To Europe . 2^- a million bags. lhe 276,452 still stand at abou» To Sundry portsh}W for uni.aggea 31, 1927 5,702,866 Quotations (nominal) Stock on December Bruto Mellado 4*500 to 5$000 t0 6*200; were 128,129 bags, fron, I7th to 23rd December 1927, as follows, p| kilo: Entries Spot prices were quoted on Dec 31. by water, rest by rail which 23.070 carne — 24 íoiu in 19th December were:—-Manáos Dec. 31 Dec Sertão Fine . .... 4§8004S700 39300 P Alegre 11,445 Sernamby Fine . 3$400 bag*. Santos -5,000 bags; 3S700 «,,, Rl0 9,814 4.075 Island Fine 3S800 Paranngna .00 bags; Antomn. 31250 3§200 Z. Pc'loÍ «58 bags; Island Sernamby . bags: Sundries 95 bags. 31800 3$600 bags; R. G. Sul 1,050 Caucho Bali . . •. ¦ ™ek, tMt^prices Market unchanged since lest COTTON. r,0.000 for for Firsts Sertão and PARA RUBBER STATISTJCS. nominal ranging fron, 52S00O been *"•-." 1927. whieh-buli a little business has For month November, Matlas 2,539 bales. tons of 1,000 kilos). lOth to 16th December were (In Entries from 55 lBth December were--Victoria Stock on 31st October. 1027 Shipments from 12th to JfJ2*55ü 4,442 29 bales; Leilões 307 bales. Receipts during November. 1927 bales; Santos 54 bales: Pelotas and no business done. COFFEE Market paralyscd U.S.A. Europe. South. 4.910 bags. Exports: Entries from lOth to 16th December Nov. • week on basis of 8 — Pancras . 267— Some 2.000 bags sold during the MA1ZE. 12 — Dcnis . . 573— but steady. 15$000 to 15*300. Market qulet 15 — Cuthbert 723— were 2.081 bags. •J8 Entries from lOth to 16th December _ Ardenhall 203 20 — Polycarp 610 little interest shown in this 6 22 FARINHA. Market weak and Sundries "rtl were 2.518 bags. 1,386 99622 2 404 Entries from lOth to lOth December Total . . quality State grown 2,038 BEANS. Some 500 bags sold for good Stock on 30th November, 1927. on basis of 44$000 to 45$00O. 1,134 bags. Entries from 10th to 16th December were In first hands: Coarse 25 tons; Upriver Fine 150 tons; Tapajós/Xingu Fine and and little offcring. 150 tons; Islands FREIGHTS. Unchanged TOcatins/Xingú Bali 150 tons; Islands Fine Coarse 90 tons; total 570 tons. with occasional Coarse 5 tons; Cametá WEATHER. Generally fine and very bot hands: light showers. In second & Co. 20 tons; General Rubber Co. of Brazil 50 tons; Rerringer 5 31/82.1. being & Co IU EXCHANGE Market firm. Bank rate of Adelhcrt H. Alden Ltd. 100 tons; Suter Baumann tons; Sua- at 5 61/64d., with little or Jos. Origet. & Co. 11 tons; Ranniger & Co. 300 frcelv offered, while* privale quoted tons; Irmão Bank of Brazil rez Filho & Co. 50 tons; F. Chamié 150 tons; no business doing, beyond sugar Bills which the ^tar 24 tons, 450 tons; Pará Plantations Ltd. 220 tons; Sundries at 6d. absorbed Transit 83 tons; total 1,408 tons. ^—_mm_mmm_mm

RUBBER. EXPORTS OF RUBBER AND CAUCHO FROM MANAUS DURING THE MONTH OF NOVEMBER, 1927. on Dec. Cable QuotaUonH for Pará Hard Fine. Quotations EUROPE. lb. : Pará 31st, 1927, were as follows: — London ls. 4%d. per (In kilos) 4*700 respectively on Dec. Total 49800 per kilo. as against ls. 4%d, and ShippersFine Médium Coarse Caucho 4*500 on Dec. 31st, 1926. 358,341 24th and ls. 5"*_-d. and G Rub: Co. of Brazil.. 312,184 15 016 30,541- • 22,075 309,313 Rerringerti , . &.c Cor^941 ___..,-nu 110 11ii,~iu 216 -"•¦j1432.612 » 3,201 96,810 J G. Araujo & Co. Ltd. 84,612 8,98017 5,174 35,057 Suter Baumann & Co. . . 14,885 6 272 8,726 (By Cable). Prices were quoted — 16,970 New York Rubber Quotations Scmper & Co13,430 480 3,060 1928, as follows (per lb.):— 1,983 14,783 during the week ending Jan., 3rd Companhia Fluvial ...— 12,800 B_ 10,560 -December -January— B. Levy & Co10,560 28th 29 th 30 th 31 st 2nd 3rd Upriver Fine Washed & Manáos . 679,081 42,564 87.756 32,433 841,834 7k —Holiday.-— 42 Total from Dried . 41 % 41 % 41 9.410 < 2.176 2,074 1,756 15,416 ... 32 % Transit: Iquitos . ... Upriver Fine . 32 32 32 % « 25 % Upriver Coarse . 24 Vi 25 :_ 25 % 27 44,740 89,830 34,189 857 250 Caucho Rall . 20 26 % 20 % Total Crucie 688,491 29 Pará Island Fine 28 28 % 28 % Washed Rubber: 24 Pará Island Coarse .... 23 23 % 23 % 0,0006-000 41 % J.G. Araujo & Co. Ltd. Plant: Smoked Sheets. 40 % 41 41 % " 41 41 41 Plant: Látex Crepe ... 40 34,189 863,250 Grand total 694,491 44,740 89,830 101,034 tons. Stock Orient rubber in U.S.A. on Jan. 3rd 1928, Market Steady. -....

27 BRAZILIAN REVIEW. January 5, 1928. WÍLEMAN'S

MANÁ<>S DURING ] XPORTS OF RUBBER AND CAUCHO FROM FROM MANAOS DURING THE MONTH EXPORTS OF BALATA THE MONTH OF NOVEMBER, 1927- NOVEMBER, 1927. OF UNITED STATES. kilos). (In (In kilos) EuropeAmericaTotal Total Shippers Shippers:Fine Médium Goarse Caucho Co. Ltd 38,5958,83147,426 20,841 261,445 J. G. Araujo & Berringer & Co 175,117 24,040 41,441 1,53841,12042,658 237,410 Berr.inger & Co Brazil. 148,960 43,040 32.230 13,180 2,7052,705 G Rub: Co. of ei & Co 1129 10,552 39,G57 145.660 S emp B750750 .1. G. Arauj(jo & Co. Lld. 94,322 Co 21,087 Sutcr Baumann & Companhia Fluvial . 15,079 915 2,6411,852 4,760 4,760 ²²— 42,838 50,701 93,539 Semper & Co Total from Manáos 30,912 58,083 . 21,171 75,530 670 362 Transit: Iquitos Total from Manáos 438,838 09,130 86,864 37,613 151,022 Transit:— , , . i . . 04,009 8,703 5,908 50,715 Grand total ______Iquitos 15,511 20,533 ' DURING THE MONTH OF BALATA AT MANAOS 95 567 81,498 721,077 ARRIVALS Total Crude . 454,349 89,663 OF NOVEMBER, 1927. "RubbQr: Washed kilos). 4,740 (In 3,700 ²— 1,040 Quantity.LG. Araujo of origin. Begion 26,950 Amazon 89,663 95,567 82,538 725,817 Lower 20,096Grand total 458,049 . 10,263 Branco . Hio 4,615 . . Columbia 8,130 . . Venezuela 447 C O T T O N. Solhuõcs . . overseas of Raw Gotton at the 70,501 BWV COTTON.—-Clearances Manáos lhe week ended Dec. 28, in tons Total ports'of Rio and Santos, during Transit:— of 1,000 kilos, wcre as follows:-— Havre bales) Pará . . From Santos: Dec. 24, ss D'Entrecasteaux, (81 21,171 total • Sdarus, Liverpool (297 bales) 41 tons; America . . 36 912 12 tons; Dec. 17, ss Europe . . • bales) 53 tons; valued at £4,808. (378 1927, Market closed on 28th Deccmber, 128,584 The Pernambuco 52$000 buyers, against 52*000 Grand total . __ steady, with first sorts quoted at 29th Wedncsday, and 33*000 buyers on DUB1NG THE buyers on the previous & CAUCHO AT MANAOS ARRIVALS OF BUBBEB Deccmber last year., NOVEMBER, 1927 ended 28th Dec., MONTH OF The moveineut at Pernambuco for the week Caucho Total Fine Coarse of 80 kilos:— Region of ongm 70,830 1927, was as follows, in bales 58,540 4 366 12,924 8,700 & Peru' Stock on 21st Deccmber, 1927 Bolívia 14,560 6,249 250,677 ,~ i i\229,808 Entries during the week ' Acre (Felcral) . 2114 175,129 160,070 12,939 Acre (State) Purús 197,994 . ., . L 12,800 8.918 1,257 . . ,qq . 187,819 Availablc . Juruá (Federal) 23,427 857 328,287 Deliveries during the week » •• 304,003 Juruá (States) . 40 083 131,974 86,025 5.266 R °''^700 Matto Grosso . 138.230 on 28th Deccmber, 1927 98,842 20.696 18,092 Stock . . 29th Deccmber, 1926 Madeira 23,446 1,027 245,045 Ditto, 220,572 Javary & Soümões 12 206 ^Foi- to 62,700 bales, as 11,795 411 the crop to date, eutries amounted Rio Negro  last crop. against 39,800 bales for the same period Venezuela & Columbia..- k 1027. steady, wrth The Rio Market closed on 28,1, Deccmber, 84,403 1,550,972 1,352,540 114.029 ciuoteil ns '"""«--Dec ¦ Total Manáos prices 192, M Dct,, 1920 Transit:— 3,735 359,945 352,066 3,544 Ser?es . . 40*000-47*00046*000-47*00030*000-318000 . . 50,715 ísíkh Pará 8,703 5,968 • • íK-46*00045*000-46*00028*000-29*000 36 044 M.otUum8 ílloOO-So41*000-42*00027*000-28*000 America . . 1,756 15,410 *»'. • - 11,586 2,074 43$Ò00-«Í00043$000-44$00027$000-28$000 Europa . . • • l autista . 95,862 1,977,048 the week ended 28th i'752-836 128,350 at Rio de Janeiro during Grand Total . The movement Deeember, .027. was as follows:- "1 1927£m 1 Stock on 21 st Deccmber, SUD-ATLANTIQUE Entries during the week CHARGEURS fgSJET 26,833 . . *'4034 SERVICE Availablc PASSENOER Deliveries during the same week The Luxurioua Liner ron europi 90 PLATI  749 FOR R1VEB Stock on 28th Deccmber 192 192b ^ Jan. 28 Ditto 29lh Deccmber, Jan. 17 LHEllft "Cuisine"-Maximum Comfort. SUGAR Best Deccmber, 1927, The "closed ~~ on 28th The PcrnanmucoPernambuco »"—Market 15 kUos: Usinas Ist sorts, 11 & 13 Avenida Rio Branco. TELEPH0NE: NORTE 6.207 against Usinas Kio de Janeiro

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.1 January 5, 1928. REVIEW. WILEMAN-S BRAZILIAN 28 ______ and LARD: There ^a-vc RICEPirF MA™IOMANDIOCA MEAL ,„ SUGAR, BEANS, ft thc ports nominal anel Brutos ..ínnr.npp. vy*overseas oi iii"-»"-2g .„,,,,,u sorts, nominal!_ Som-nos. were no clearances -<->• raras, „„„,_„,..nominai, , i" t. » _• .i...-i._«~ theun- week eiuieu i^cl. *"lnc^"y-ended*28th of Rio and Santos, tlui-in» 5|700 to Ü$400 on Lhe previous Dec, for the.week cncicci The movement at Pernambuco in bags of BO k»los:^ 1927, was às follows, IJ-/ COCO A. Stock on 21st December, u7íK)ü the week , Q.,1 ih.. bortss of Hio and Santos, Entries during overseas ot Cocoa at ihc poi Clearances kilos, 973,700 Dec 28. in bags oi 60 during the week ended Available . . .' 40,000 the same week U"T 21, Deliveries during Hamburg 1*050 bags; Dec. < .Mhin- Dec 15 ss Paraná, 933,700 1927.. a $.^ Stock on 28th December 010,000 ss Ango, Havre 950 bags , on 29th December. 1926. Stock '•""" bagSi-, 100 bags; Dec. 18, bags, as ti200200 bags Helsingborg*g. annted to 2,165,000 200 bags; Slockholm Brcmen 100 ..,,,. llH. crop ,„ date entries ^-^ \ ^ " A1T- ? bags; C^d^S^p 250 , iKiininiiK^305 £a.s uõrfc- - ©^ bags, Dec 22, ss Newton, The Wo Market closed -« ~po_. .-¦««.: M.-.V., r.::;^rt:::-;r::rrt:r^,(,,.:vo,,2.oo foUU IO t^^iv.;^, valued at £80,784. rsDemeiaias, .rr. bags; total 22,030 bags; to *,il7'i_- week ended 28th dci Janenoi,„,in, for-o. the Thc movement at Rio follows:--^^ December. 1927, was as MEAT. 2lst December, 1927^m Stock on Po,-U and OIUl,. during the week o£ Prazer, o,- Chilled Meat, EjUnies Clearances overseas Dec. 28, Sentes, during the week ended 236,014 ., lhe ports «f Rio and . . ' •11,050 tollows:- Available jH tons of K000 kilos, were as luríng the same week Have (1Gol qto Deliveries BEEF-Dee. 20, ss Groix, ,.,„„ santosc tons, 194,964 London 164 tons; total 26b ,02 tons; D-s. 20, ss Aljneda, Stock on M.ih December 345,123 lJ_!b.....J927.. Ditto, 29th December. valued at £7,752.nfíttO 23 17, ss Aneles, Southampton (1,300 ptkts) 28tli Deci, OFFAL-Dec. Paulo for lli, «.,,< ended Thc „,„,,.„,,,„ ., sao tons; valued at £782. •< spo, ...otod as follo-vs P*^-* m, £_*^20 Dec, 1926 »& *«r_* z-.52r whuhoi,su,s.....'¦ HIDES. Sailed Hides at il.e ports ot m="5 ¦¦¦¦•¦•¦ = « Glearanees overseas ot Dr. or SS,n ' SS ended Dee. 28, ,n iin.ts and tons Somcnos . . Ri0 .»„ Santos, during lhe week 1927, follows:— Sao Paulo on 28th December, of 1.000 kilos, were as ontion closed at Holm, Hamburg, L. Math.as -, C.U1 .íl. Ri0 de Janeiroc Dee. 20, ss „„cos PcrM^ilos^c- ,,(1^. Pan Amcr.cn Hide tollowing r, tons; Dec. 31, ss Silarus, Antwerp, 2] ^ ^,c (513 dry) ^. tons; Rotterdam, Ormundscn & Co. C1,01J — Co (1,050 salt) 30 January . . " __ . __491000- (0,000 salt) 84 tons; L- — sclt) 55 tons; Hamburg, Frig. Auglo February . . _ . ²51$000- Bally Co. (1*000 salt) 31 tons; Liverpool, March . __ - ²51$200- — verpool 13 Damaso & ~~ ~ -54*800 Dec. 16, ss Ango, Havre, Pan Ameneau •\pril .. =~ Brasil 0,000 dry) 15 tons; — ' 8, ss Cabedello N. XovK May . . ¦•¦__ - ²52$000- Hide Co. (1,000 salt) 20 tons; Dec. Dec. 21, ss Western Worll, june _ Snndry Shippers (2.75(1 dry) 65 toüs; dry) 11 tons; Dec. 20, l N York Pan American Hide Co. (1,03a IN FOREIGN MARKETS. 4 tons; OF COTTON AND SUGAR Ormundsen & Co. (399 dry) ^OTATIOM ""¦ ss Ut Jaceguay.Rotterdam, -veck en.lc.l Mlh hides) 320 tons; valued at £18,032. During the ______total (5,696 dry and 7,069 sailed salt) 4 tons; From Santos: Dec. 17, ss Silarus, Havre (196 '::¦.' I Dec 27 28 29 bidês) 227 tons; f_.it 24 26 tons; total (0,406 salted COTTON - 23 Hamburg (0,300 salt) 223 perlb. valued at i.8,524. Liverpool 12.30 p.m. penec... Fair Pernambuco and Maceto 11,30 11,29 ^ >- 11,05 11,04 Spot. >s rt E. Úftr!con'puHy MiddÜng |io.88 *_rt ,1.1,52 10,47 MANGANÊS rs"5 10,47 »=^*Hr*-tt__ffi::."..RS 10,53 Rio 10,53 10,46 overseas of Mangancse Ore at the ports of May 10,40 Clearances 10,48 10,41 in tons of 1,000 kilos, , july 10,35 nnd Bahia, during the week ended Dec. 28, te' . were as follows:— MldcMng Antwerp, A. Ihun New York American 20,15 20,00 20,10 From Rio de Janeiro: Dec. 16, ss Ango, Spot - cents ...... 9,75 19,49 19,60 Uplands ...9,25 19,62 Ney 1,500 tons; total 3,000 tons; valued American Futures January 19,70 19,57 19,69 2,000 tons; Antwerp, Felix , March19,44 19.84 1Q.83 19,71 at £7,395. May 19,57 19,75 19,63 19.75 July. 119,48

SUOAR : TOBACCO. ¦ Leaf Tobacco at the ports of Rio and Lotido» Close-Per cwt. 14/914/9 Clearances overseas of December 14/9 1/2 kilos, were Futurei 16,71/216/7 lhe week ended Dec. 28, in tons of 1,000 , , March..... 16/9 16/9H6/10 1/2 Bahia, during May 16/10 1/2 _ 17/11/217/1 1/2 July 17/1 1/2 bales) 161 tons; FroTBahia: Dec. 21, ss Ango, Antwerp (2,297 Dec. 19, ss Arta, Bre- ss Andes, Southampton (35 bales) 3 tons; bales) 1 ton; Close-Per lb.cents 2,812,83 men (606 bales) 04 tons; ss Crenadier, Antwerp (7 Ncw York .... 2,82 2,80 , , FuturesMarcli. 2,88 2,882,89 13. Aires (1,605 bales) 112 tons; Montèvideo May 2,89 2,972,98 Dec r> ss Newton, 2,97 2,96 478 tons; valued at » ...... — 3,043,06 totH (6,831 bales) july I 3.04 (2,201 bales) 157 tons; > September 3,05 £24,887.

/_ .¦%;^mw*- *. **'*' 2. REVIEW. V WILEMAttS BRAZILIAN January 5? 1928.

1,000 Kilos less 10% cclerrçd ei ate biUs of lading, Uai por East London, Mosscl Bay, 1 ort Algoa Bay, Capetown, Durban, Bay, 100/-; Ludentz Bay and Bli-ibeth, l)0/-; Beira and Dclagoa _»le_ an extra eharge oi 10/- per Walfish Bay, 140/- (there is usually cover Customs House expenses each sei of Bills of Lading to at Cape Town).. Barcelona direct ship- Group L-.-Alexandria, Aüeante, (for less 10% deierred rebate merit to this port a rate of 70/- +10%, Ceuta, G.braltar, is appücable), Ctidiz,' Cartagena, Casablanca, Port Said, Rabat, ban- Malaga, Malta, Mazagan, Melilla, Mogador, Valenc.a, Vigo, 70/- tander, Seville, Sue/, Tangiers, Taragona, Candia, Canea, AND SAIL + 10% + 20/-; Group 2:-Bourgas, Braila, Calamata, SHIP Corfu, Dedeagatsch, Cavalla Chios, Cohstantlnoplé, Constanza, BY Re-timo, Salonica, Smyrna, Gal-iz Mytilene, Letras, Piraeus, -i-10%-i \\:-Adalia, Alexan- Varna Vathy, Voto, 70/- 25/-; Group Cherassunda, Dardanelles, clrctle Batum, Beyrouth, Caifa, Chalkis, MUNSON Jeddah, Kerasund, Dikeli, Famagusta, Finika, Haiffa Ineboli, Jaffa, Sulina, Syros, Treb.zonde, LINE. Rhodes Samos, Samsoum, Scalanova, STEAMSHIP Rebate: The 10% Tripoli (Svria), Vourla, 70/- + 1Ó%+S6/-. Twelve Days to New York the above-mcnl.oned rebate payable on shipments to Sailings by deferred Fortnightly only, that is, 70/-. ports, is on lhe terminal rate S.S. PAN AMERICA SS AMERICAN LEGION S.S. WESTERN WORLD S.S. SOUTHERN CROSS speed records for merchant ships STEAMERS' MOVEMENTS. Ali York are Rio de Janeiro and New between ton vcssels. held by these 21,000 displaeement The Royal Mail Steam Packet Company. cpeed Co-bSngoxpress .-IU. Ç**-***^**trayelei tne they offer the discriminatmg for Europe best boteis. due arrive Pernambuco 5th January comfort and luxury of the ARLANZA, 30th December for Plate. further information address. ALCÂNTARA, left Santos For rates and R. Plate. AVON, due Rio 7th January for Santos and for Europe. Company. ANDES, arrived Lisbon 31st December The Federal Express for Plate. DEMERARA, left Santos 31st December — — SAO PAULO. Europe. RI0 SANTOS DESNA, left Rio 20th December for DARRO, due Rio I2th January for Plate. January for Plate. HIGHLAND PRIDE, leaves Rio 4th PRODUCE for Plate. CLEARANCES OF SUNDRY 11. WARRIOR, due Rio 17th January due Rio 22nd January for Montevideo. in Bunches. ORDENA, Bananas North Brazil. SABOR, due Rio 5th January for bunches; from Santos. Orania, B. Aires 7,802 arrived Rio Grande lst January From Wos-santos, Deculc. 20_v, ss_- -».„__ SEVERN, Dec 23, ss Kionp. 5lh January Santos, Rio Grande. Cubo Paios, ditto 16,753 bunches; ÍRIS, due Pernambuco Dec M sS for Europe. ..iu,, **. -r.^srr SILARUS, left Pernambuco lst January wm zrr::\::^:i January With Depot Coai. «- 67,77, bunch-, MENDI, due Rio lüth gj* T^íiZ^i^^^ buuches. 23 December, 1927, 3,745,642 Lamport & Holt, Limited. fotai tm1 -.nua- to for Trinidad, Barbados and VESTRIS, leaves Rio 8th January

SHIPPING. for Pernambuco, Trinidad, VOLTAIRE^ieavcs Rio 22nd February e»»''™»»™^ York. Ua.cs and Condition, Th. Barbados and New Current Freight Uom ísi for Montevideo and B. Anes. rr - ...ul nther mine pa produce as VAUBAN, due Rio 23rd January for Montevideo and B. Aires. VANDYCK, due Rio 6th February December for tab»¦***£¦ RAPHAEL, 1.(1 Rio ('.rande Slot and Ro Grand.. due Rio 12lh January for Santos XINTORETTO, Rio &£ZSsz_£~»—rr™ January for Rio, Santos and BOSWELL, leaves N. York 21st Grande.. . ,. , ; .-.i anAbo;__ , rtn Vicloria, Bahia and 0o »^ o leaves Santos_ . otli januaiyT-nuarv fori"' st.U.01-, .lothcnb,,,, LALAND, küos, excepl wheie omerwise New York.. . Per ton of 1,000 N. v UU. Jan. for V.cto-a and BALZAC, h-aves Santos J«k- 1 Col. 2 Col. 3 January for V.ctona. New Yoik, Col. RAPHAEL, leaves Santos 28lh 120/- 125/- 130/- * Colton ¦ " •••30/-35/-40/- Norfolk.xt xr February for N. York. • ¦ 60/-65/-70/- BONHEUR, leaves Santos llth for Rio Grande gW£Rubber . . _.7m/ BALZAC, left Santos 3rd January Santos, Cocoa (per 800 kilos)60/-65/-/ü/ HIBLA, leaves Rio 8,1, January for TT., ª6o/--07-'°'" for Santos^^J^T** and Rio Grande. . Hules, wet . 79/(. PHIDIAS, due Rio 14th January Us.)62/0 67/6 72/6 for Santos. Dry Hides & Skins (800 BRONTE, due Rio 28th January 25/-30/-35/- for Lus Palmas, Leixoes and Maize . . ••• HOOARTH, due Rio Utb January 10% ,.rii,mge_-per Liverpool. Coffee freight rales are as follows-.-Plus Rotterdam, Amsterdam, United - & Holt, agents. ¦00, kilo»: Havre, Antwerp, Nippon Yusen Kaisha. Lamport Portuga and Bor- and •Ldom, Hamburg, Bremen, Islands, Spata Rio 9th February for Cape ports 80/-, WAKASA MARU, leaves 75/-; Denmark, 77/Gd.; Norway deaux 70/-; Marseilles Far East. To South African ports on through SweTen. 85/-; Finland, 85/-.

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•' ~ •' ''.''¦ T_^r.?-, \,; ' 5, 1928. REVIEW. January io WÍLÊMAN'S BRAZILIAN and . Hook van Holland^ 22nd Dec. for Santos & Co, Ltd., AgenU. HAUGLAND, passed Blue Star Line—Wilson, Sons nto January for C V. _0t_ Dece.nbe. for duc^to sail from Kristianssund N. abi. 14th AV-.U.NA, sailed trom St. Vinc.nl LISTA, Montev.déo and Janunr, sail. ...no day.), Santos. Brazil and River Plate. (duo t» aht. 23/24th January COMETA, ealculated to load Santos and Rio Montevideo, San- and Baltic Ports. Aires. __ January for for Copenhagen, Finland.. Norway ANlIll-ícÜ.' in B. fi- for 10.1- Jannary), Madona, Us- load Santos and Rio about 3rd February tos (due fltl, .lanuary). Rlp (due SALTA, ealculated to London. Finland and Baltic Ports. bon, Plymquth. Boulogne and Norway," Copenhagen, for Madeira. Lisbon, Plj- ALMEDA, Ball-d »io 27th December Wille & Co., Agents. Boulogne. and London. Hamburg-S. American Steamship Comp.-Th. muulh, r, January Cor Bontogne. L-.bon,Made ..VIU. sailed London «th due Rio 24th. sails 20th), Santos, CAP ARCONA, from Hamburg Jan. Uih, Vincent CV, Rio (due 19th January Uth no ex- St. CAP POLÔNIO, left B. Aires Jan. Jrd, leaves Rio Montevideo and B. Aires. and U.S.A. Dec, from South America. cursion to the West Indies arrived London 28th 17th. ARANDORA, CAP NORTE, left Hamburg Dec. 31st, due Rio Jan. B.Aires Jan. 9 from Rio 14 for Sons & Co., Limited. ANTÔNIO DELFINO; will leave .Gaaka Sho.cn Kalsha-Agcnts Wilson, Hamburg. lst January for Rio (due llth will leave Hamburg Jan. 7, due Rio 25. -W: SANTOS MARU sailed Cape Tftwn MONTE CERVANTES, Hamburg Jan. 19tb for Brazil and sails 12th), Santos and B. Aires. , leaves Aires 3rd Jan. for Santos Ru, (due LA PLATA MARU, sails B. R. Plate. Orleans. Galveston, Chrtstobal, 4 from Rio 10 for Hamburg. 15th, sails lOtíi), V,:oria, N. , left B. Aires Jan. Jan. 7tb. Los Angeles, Yokohama and Kobe. ARGENTINA, will leave Hamburg Jan.. for Singapore, Colombo, Sul. MANILA MARU, sailed Saigon 4th BILBAO, in Sao Francisco do Rio 12th February sails Uth), Grande Sul. Durbftn. cape Tomo. Rio (due ENTRERIOS, in Rio do Dec. 21. due Rio Jan. 11. Santos, Montevideo and B. Aires. ESPANA, left Hamburg Angeles 20th December for R. Plate. MONTEVIDEO MARU, sailed Los LA CORUfJA, in lhe Hamburg Jan. 20. Yokohama and Kobc. PARANÁ, sailing from sails Bth January for Galveston, in Rio Grande do Sul. HAWA1I MARU. in New Orleans RIO DE JANEIRO, and Kobe. Dec. 16 direct for Santa Fé. Christobal, Los Angeles. Yokohama SANTA FE', left Santos SANTA THERESA, left Hamburg Dec. 25 for Brazil. Chargeura Réunis & Sud-Atlantique. TENERIFE, in Rio. YIGO, left for Hamburg Dec. 16. the. Plate 11 January. OUÈSSANT, expected from VILLAGARCIA, left Hamburg Dec. 30 direct for Paranaguá. Plate 15 .lanuary. rORBIN. expected from lhe BAHIA, sailed from Rio to Bahia Dec. 3. the Plate 18 January. HOEDIC, expected from OSTPREUSSEN, left Hamburg Dec. 10, from Antwerp 15, in Rio from the Plate 25 .lanuary. MOSELLA, expected 11 Jan. from Plate 28 January. LUTETIA, expected the PERNAMBUCO, leaves Hamburg Feb. 10 for South Brazil. January. CEYLAN, expected from Europe 7 from Europe 14 January. FOHMOSE, expected — January. Hamburg-Amerika Llnle Theodor Wille «Sr Co., Agents. LUTETIA. expected from Europe 17 January. MALTE, expected from the Plate 21 ALBINGIA, in Rio. January. LIEGE, expected from Europe 22 BADEN, will leave Hamburg Jau. 11. BAY_ERN, left for Hamburg Dec. 28. Express Company, Agents. Munson Steamshlp Lines-Federal FRANKENWALD, in lhe R. Plate. * 4, N- York 17. GEN. MITRE, left Hamburg Dec. 2'.). due Rio Jan. 20. AMERICAN LEGION, left Rio January 31, due Rio Jan.. 13, Santos CEN. BELGRANO, will leave for Hamburg Jan. 18. PAN AMERICA., left N. York Dec, HOLM, left for Hamburg Dec. 22. 14, B. Aires 18.• Aires Jan., 4. LIGURIA, left Santos Dec. 17 for Rosário. SOUTHERN CROSS, arrived at B. York January 4. PARAGUAY, left Hamburg Dec. 31. WORLD, left Bahia Dec. 23. due New WESTERN NIEDERWALD, will leave Hamburg Jan. 18. Express Co., G. Agt. STEIGERWALD, left Hamburg Dec. 22, due Rio íibout Jan. 12. Mc Cormick Steamshlp Co. (P.A.B. Llne)-F. WASGENWALD, left Hamburg Dec. 17, and Antwerp 23. of Dec. 20, for Pacific Ports 4. HOLLYWOOD, left Puerto Columbia WUERTTEMBERG, left Hamburg Dec. 14, due Rio Jan. TTC K PLANET, in the Westcoast. 1. due Bahia 6, to load for WEST CAMARGO, left Santos Jan. HARBURG, in Santos. Pacific Ports of U.S.A. PILOT, in the R. Plate. URUGUAY, left Hamburg Nov. 18 for the Plate. Limited, Agents. Prince Line —Houldcr Brothers & Co., LEGIE, from Rio lo Montevideo Jan. 3. York & Boston 18th RHOD.OPIS, expected Jan. 11, sails for Pacific. PRINCE. loads for Trinidad, N. CORSICAN SACIISENWALD, will leave Hamburg Jan. 23 for Brazil. January..... , „ ,. . eu. Trinidad, N. York & Boston 8th BRAZILIAN PRINCE, loads for Johnson Line — Luiz Campos, Agent. February.f New York. SARDINIAN PRINCE, at KRONP. MARGARETA. in B. Aires! at Rio. ÍNDIA N PRINCE, discharging KRONP. GUSTAF ADOLF, left Rio 31st Dec. for Santos & B. Aires. loading in N. York for Brazilian ports. HIGHI VND PRINCE. VALPARAISO, left Gothenburg 2Üth December for Rio, Santos, loading New York/Brazili.m ports. • AERICAN PRINCE, January Montevideo and B. Aires. r PEDRO CHISTOPERSEN, due to leave Gothenburg 4th January, American Llne-Fredrlk Engelhart, Agent. rhe Norweglan South for Rio, Santos and B. Aires. January. S\LTA arrived B. Aires 3rd SUÉCIA, due to leave Gothenburg 21st Jan. for Rio, Santos, Bth January from West Norway for Montevideo Aires. BORGLAND, due Rio about and B. PACIFIC, Sweden Brazil and R. Plate. left Bahia 17th Dec. for and Finland. N. 20th Dec. íor Rto, San«o_ SAN FRANCISCO, left Rio 29th Dec. for Victoria, Sweden and PARA', sailed from Kristianssund Finland. and B. Aires. ~: ".V /p^^^¦;5:.k•;l¦'í^>í-''y¦' :f

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WILEMAN'S BRAZILIAN REVIEW. January 5. 1928. _____,¦ ^-Wv ""51 LIMA, left B. Aires 3rd Jan., loading Santos 8th, Rio llth, Victo- TO THE ADVERTISER. rla 15th and Bahia 17th for Sweden and Finland. in announcements in a paper is primarily due to leave B. Aires 22nd Jan. Santos Your aim placing KRONP. MARGARETA, offer meets the eye of persons ' for Sweden and because you know that what you 27th, Rio 30th, Victoria 2nd Feb. Bahia 4lh, the advertiser is most likely to become your customers. Once Finland."• into a market. interested, it rests with him to push his ware B". Aires 2nd Feb., loading its KRONP. GUSTAF ÁDOLF; due to leave "Wileman's Brazilian Review" numbers amongst readers Rio lOth Victoria 14th, Bahia lOth for Sweden may sound Santos 71h, the world's leading business men. This assertion far as our circula- and Finland. illusive but, neverthelcss, it is genuine, in so loading Santos coffee, banking, export VALPARAISO, due to leave B. Aires 19th Feb., tion is'concerned, for it reaches every ¦ v? in the four corners of the Rio 27tli, Victoria 2nd March and Bahia 4th for Sweden and import house of any standing 23rd, who statement can be dscertaincd by any reader and Finland. earth. This wishcs to inspect our subscription files. but their There are newspapers that are read by millions, Agente confined to the country of WHhclmsen Steamship Line —E. Johnston & Co., Ltd., circulation are more often than not to have a circulation of millions, York on 25th Jan. domicile We do not profess TERRÍER, loads for N. "Wileman's Brazilian Review" but can assure our readers that CUBANO, from N. York pn 28th Jan. an advertising me- has a world-wide circulation. Its value as dium' is, therefore, obvious. "bona-fide" list shows the countries and Amerika Lijn—E. Johnston & Co., Ltd., Agents. The following Rotterdam Zuid "Wileman's is weekly: cities to which Brazilian Review" posted ZÍJLDIJK, loads for Rotterdam and Hamburg 13th January. Fortaleza, Para- BRAZIL : — Manaos, Para, Maranhão, Natal, Rotterdam and Hamburg 23rd January- Maceió, Bahia (City), ALCYONE, loads for hyba (Piauby), Parnahyba, Pernambuco, de Lima (Morro Ilhcos, Victoria, Bello Horizonte, Villa Nova Ni- Velho) Itabira do Matto Dentro, Rio de Janeiro (City), Rio Cape Line — Cummíng Young, Agent. Preto, ctheroy, Petropolis, S. Paulo (City), Santos, Ribeirão February. Paulo), WAKASA MARU, leaves Rio 4th Villa Americana (S. Paulo), Santa Ernestina (S. do Sul Li- Mattão (S. Paulo), Curityba, Rio Grande (City), Alegre and Águas Virtuosas. — Young, Agent. vramento, Pelotas, Porto Det Forenede Dampskibs-Selskab Cumming URUGUAY:—Montevideo. Baltic Ports: For Denmark, Finland and ARGENTINA:—Buenos Aires and Rosário. CHILE:—Valparaiso. CALIFÓRNIA, leaves Rio l7th January. PERU:—Lima. leaves Rio 30th January. MARYLAND, VENEZUELA:— Maracaibo. middle of February. ARGENTINA leaves Rio SALVADOR:— SanfAna. New York, New Orleans, Chi- BRASILIEN, leaves Rio end of February. UNITED STATES :-Washington, Hanover (Pa.), cago San Francisco (Cal.), Philadélphia, Evans- Boston, Wellesley Hills (Mass.), Cambridge (Mass.), Mobil (Alabama), ton (IU ) Dayton (Ohio), Toledo (Ohio), and Morristown (Pa.). Columbas'(Ohio), Houston (Texas) CANADA:—Montreal and Toronto. Linie Manchester, Cheltenham, Hamburg-Amerika UNITED KINGDOM:—London, Liverpool, Hornchurch, Thetford, Eastbourne, Tunbridge Wells, Kilmarnock (Scot.). BexhiU-on-Sca, Bumham (Bucks.) and with modern FRANCE:—Paris, Havre and Marseilles. Regular service BELGlÔM:—Antwerp and Brussels. Enschcde. HOLLAND:—Rotterdam, Amsterdam and and cargo and Bremen. passenger GERMANY:—Hamburg, Kiel, Berlin between ÁUSTRIA:—Vienna. steamers CZECHOSLAVAKIA:—Prague. SWITZERLAND:— Bale, Genea and Zurich. Milan. Antwerp, Brazilian ITALY:—Tri este, Genoa, Turin and Hamburg, DENMARK:—Copenhagen and Kolding. and Ryfylka. NORWAY:—Oslo, Bergen, IJagesund and River Plate Ports. Kristianschamm, Vas- SWEDEN:- Stockholm, Goteborg, Gefle, teras, Uppsala, Khristianstad and Helsingborg. and Kuopio. FINLAND:—Helsingfors, Gamla, Karleby LATVIA:—Riga. ISBHfS ROUMANIA:—Bucharest. AUSTRÁLIA:—Mclbourne. EGYPT:—Alexandria and Heliopolis. and Blocmfontein. SOUTH ÁFRICA :-Cape Town, Johannesburg $, Co. JAVA:— Mela ng. íbeôílor SJflSe ÍNDIA:—Calcutta. DUTCH EAST INDIES:—Sourabaya. Osaka and Sapporo. >RIO DE JANEIRO JAPAN:—Tokyo, Yokohama,

advertising médium than a publication 79, AVENIDA RIO BRANCO, 79 There is no better with a world-wide circulation.

¦¦ P_«U> WILEMANS BRAZILIAN REVIEW. i'x SantosSfto CAIXA POSTAL 809. - RIO DE JANEIRO.

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January 5, 1928. :i:â‡' WILEMAN»S BRAZILIAN REVIEW. 32

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