Coffee high

Press, 25 May 1984, Page 8

Coffee high

Coffee prices are nearing SUSI.SO a pound on the world commodity markets — the highest for about four years. Speculators have been buying on expectations of a smaller Brazilian crop, and rumours of cooler weather in Brazil as the frost season approaches. Also, good-quality robust coffee is scarce. Production is down in the Ivory Coast and Cameroon, Indonesia is having quality problems and Uganda shipments are late. Selby Shoe The annual meeting of the Selby Shoe Company, Ltd, has approved the final dividend of lie (11 per cent) per share and the division of each $1 share

into two 50 cent shares. Existing share certificates will not be called in, but each certificate will now represent two 50c shares for each dollar share shown in the certificate. Shareholders also approved the increase in authorised capital from SIM to ?2M. Wall Street The New York stock market was little changed on Wednesday, drifting around its lowest levels in more than a year. Analysts said rising interest rates continued as the market's major problem. With high returns available in interestbearing investments such as treasury bills, they said, investors generally were apathetic about stocks. Trading had been generally sluggish in the stock market lately as prices had fallen. The Dow Jones average of 30 industrials dropped 2.82 points to close at 1113.80, bringing its loss over a week to 39.36 points.