ment of tank steamers for the purpose of bringing hither cargoes from the West Indies, the storage of these receipts in tanks located on tide water and their distribution in tank wagons and tank cars, which it is claimed will materially cheapen the cost to consumers and prevent loss from leakage, which was a serious item in the transportation of hogsheads and barrels. The total shipments of Porto Rico molasses to the United States for the year under review amounted to 2,476,475 gallons. The receipts at San Francisco consisted chiefly of shipments from Hawaii. The total consumption of foreign molasses, as shown on page 19, aggregated 18,964,529 gallons, compared with 19,444,292 gallons the previous year, a falling off of 479,763 gallons, or the equivalent of about 10,000 barrels.

Domestic Molasses.-The largest consumption of cane molasses in the United States consists of the by-product of the sugar houses in operation in the cane belt of the Southern States. On the plantation this is known by the general term "black strap," but so much of it as is adapted for table consumption is known in the trade as New-Orleans molasses. For the reasons already given with respect to foreign molasses, the quality of the domestic product also has been gradually deteriorating. With but few exceptions the vacuum pan is now used in sugar houses, and the more thorough crystalization possible from this process is, of course, at the expense of the byproduct, which therefore carries but comparatively a small percentage of saccharine value. Accordingly the poorest grades are used only for feeding live stock, while the better grades, after having been improved with glucose and otherwise manipulated by a skilled mixer, are sold for table consumption as New-Orleans molasses. The quantity thus available varies considerably according to the size of the sugar crop, but for the past ten years the average yearly yield has been about 30,000,000 gallons, or about 665,000 barrels. The Louisiana sugar crop of 1903-1904 was considerably smaller than its predecessor, and accordingly the available supply of molasses was correspondingly reduced. According to the estimates of Mr. A. BOUCHEREAU, the total yield of the State of Louisiana amounted to 21,052,178 gallons, and of the other Southern States where cane is grown 6,912,114 gallons, making a total of 27,964,292 gallons, which is 9,321,431 gallons less than the preceding crop. The following table gives the yield for the past ten years:

Sugar House Syrup.-This by-product of the refining process which comes under the denomination of a liquid sweet, usually has been handled by the molasses trade, and has been highly esteemed for table use by reason of its attractive flavor, but only a small percentage is now taken for consumption in this country, as refiners find it much more profitable to sell it for export and thereby obtain the liberal allowance or return they receive from the Government in the shape of drawback, and which generally exceeds the original cost of foreign molasses at the port of shipment. During the year under review about 13,400,000 gallons, or 300,000 barrels, were exported.

Glucose. The most important ingredient in the preparation of liquid sweets for table consumption is a by-product of corn known as glucose. It is the basis of corn syrup as well as the foundation of the numerous mixtures that are used as substitutes for molasses and cane syrup. At one time glucose factories turned out principally glucose, but now a large number of by-products, one of which is glucose, are turned out, besides which they have undertaken the mixing business, and now supply the trade with all the various brands of molasses and syrup put up in "skin cans" and "skin jars" ready for retail distribution. A few years ago the keen competition among the glucose factories resulted in their combination in a Trust, which, for a while, practically controlled the industry, but more recently independent capital has entered the field and materially neutralized the power of the monopoly previously existing. The consequence has been that the operations of the past year have not been as satisfactory as heretofore, and the price of 42 test after being advanced to $1.90 @ $1.95 for car load lots declined to $1.51 @ $1.61. In addition to the above mentioned uses glucose is also used in the manufacture of confectionery and beer, and there has been a demand for export, but shipments to Europe have recently fallen off in consequence of the higher prices that have prevailed.

According to the Bureau of Statistics, the export for the past ten years has been as follows:

Sorghum.-Although nowhere planted and cultivated as a principal crop, still this description of cane is extensively cultivated as incidental to other farm operations from which is obtained a syrup which is used for home consumption, but is not produced in marketable quantities. Throughout the Middle West and Southwest every farmer has a patch of sorghum, and, accordingly, the yearly production varies considerably. In 1900 the quantity of syrup actually made amounted to 17,000,000 gallons, which is rather less than the estimated average yield.

Maple Syrup.-About three million gallons of this table syrup was produced during the year under review as a by-product of the maple sugar industry.

Exports.-There were no exports of foreign molasses during the year 1904, but of domestic there was shipped 2,437,249 gallons, compared with 4,271,346 gallons the year previous, while of domestic or sugar house syrup the shipments aggregated 13,398,181 gallons, compared with 11,800,253 gallons in 1903.

RANGE OF PRICES OF MOLASSES AT NEW-YORK DURING THE YEAR 1904.

THE COFFEE TRADE OF THE UNITED STATES.

Annual Review, showing the Import and Consumption of Coffee in the United States, for the year ended December 31st, 1904, compared with the previous two years.

YEARLY AVERAGE PRICE PER 100 POUNDS IN THE NEW-YORK MARKET OF No. 7 EXCHANGE STANDARD BRAZIL COFFEE FOR THE LAST TEN YEARS.

At New York, of Brazil.... ..bags, 3,403,379 At New-York, of Brazil..... .bags, 2,389,584

ANNUAL REVIEW OF THE COFFEE TRADE OF THE UNITED STATES.

The events of the past year have proved to be of more than usual interest, and several significant as well as important features have been developed which would appear to indicate that the coffee trade of the world is at last about to obtain some relief from the burden of over production by which it has been handicapped during the past four or five years. During that period the cry of "short crop" has been frequently raised only to prove as misleading as it was disappointing, and year after year the plantations of Brazil have obstinately poured forth their supplies with an abundance that seemed to know no restraint. That the productiveness of the trees having finally reached their limit would appear to be the only fair inference to be drawn from the diminished proportions of the crop drawing to a close, and the present prospect that the succeeding crop will not show any material increase. Two reasons are