Type
No. 1--180 points above No. 1--260 points above No. 1--300 points above
No. 2--150 points above No. 2--230 points above No. 2--250 points above
No. 3--120 points above No. 3--200 points above No. 3--200 points above
No. 4---90 points above No. 4--150 points above No. 4--150 points above
No. 5---60 points above No. 5--100 points above No. 5--100 points above
No. 6---30 points above No. 6-- 50 points above No. 6--50 points above
No. 7---Basis No. 7--Basis No. 7--Basis
No. 8---50 points below No. 8--50 points below No. 8--50 points below

A point is the hundredth part of a cent

In the spot market, a trader may also buy or sell coffee "to arrive";
that is, a consignment that is aboard ship on the way to the market.
Coffee is shipped to New York either on a consignment basis and sold
for a commission, or it may have been bought in the shipping port and be
already the property of an importer. When shipped on consignment, a
wholesaler usually buys on the in-store contract, which provides that
the purchaser must take delivery at the warehouse, though he is
generally given a month's storage privilege before removal of the
coffee. The practise among New York importers at present is to buy
coffee on either the basis of F.O.B. delivery steamer at loading port,
or delivery C. & F. (cost and freight), or C.I.F. (cost, insurance, and
freight), port of destination. Payment is made by letter of credit drawn
on a New York or London bank, entitling the exporter to draw at ninety
days' sight against the shipping documents, so that the shipment will be
in the hands of the purchaser long before the draft is made. Frequently
a jobber acts as his own importer of Brazil coffee, buying direct from
the exporter without utilizing the agency of a broker or a regular
importing firm.

Brazil coffee is bought with the stipulation that differences between
samples and the coffee actually delivered may be adjusted either on
"Brazil grading," "half difference," or "full difference"; and with the
further provision that, if the delivery is a full type higher or lower
than specified in the contract, the entire shipment may be rejected.
Under the "Brazil grading" provision, the buyer must accept delivery if
the coffee is better than the next lower type, even though not up to the
type ordered; and if the coffee is of a higher type than contracted for,
he need not pay premium for it. In bu