Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1885-06-13
Williams. Dimond & co.'s Circular.

San Francisco, June Ist, 1855.
Our last circular was dated May 18th, per
Alameda.
SuGAR--Since our last report the Eastern
and European markets have continued to inn
prove. Manila sugars have continued to adj.
vance and the prospect is favorable for still
better prices The cause Of the recent advance
after the past few months Of great dullness,
during which time sugar has sold lower than
ever before, Is chiefly due to the great shortage
in the beet crop. 1t is well to note in this
connection that nearly one half the sugar sup
ply Of the world consists Of beet root sugar.
1t is grown in Germany and France princi
pally, and is about the only sugar used on the
continent Of Europe, England and the United
States are about the only users Of cane sugar.
Prices have been so low that growers of beet
have been discouraged and consequently last
year there was much less planting and the
yield was reduced about twenty per cent, and
this years crop is still further reduced.
This decreased production Of beet root has
now begun to be felt in Europe and in conse.
quence raw cane sugar has gone up IS to Y
cent per lb. in New York and from " to rs
cent in London.
Havana sugar planters are preparing FOR an
increased average in the next crop. We quote
from New York exchanges Of May aist,
follows:
"The advance for spot sugar does not as
fairly represent the market as sales OF sugar
anoat, which are considerably higher. The
advance from the lowest price is very insignih-
| and on the continent, and as consequence,
receipts are beginning to be affected, which SC
lar this month are 81, 900 tons less than same
time in May, 1884, and by reason Of increased
exports of refined, the MEETINGS are largely ir
excess Of last year. The change since January
Ist is important. Then the excess of stock ir
| United States was 26, gao tons, while now il j.
I4,z o9 tons less--a difference Of 4o,625 ton.
influence towards higher prices. The Brazi
crop is virtually exhausted. Sugar from Cubt
and other West Indies is going away from IL.
to a much larger extent than last year, Will,
all these crops are smaller than last year.
"From May 18th to October Ist of las
year, we received from Europe $4,000 tons
while this year refined as well as moderate
quantities Of raws are being exported to Europe
in muck Larger quantities. 1t is also important
to note that home consumption at this dat,
last year was Io2, 900 tons over the precedin.
year, while now it is ID tons more than las
year.
"ln view of the above facts, it would seen
fthat change in the parity OF prices in Europ
and here must surely come to enable us tt
draw some necessary supplies from Europe"
Nfso Yo,I, May e0lh. Cuba centrifugal
o6% test are held at 6H cts. and sales hav
been made afoat at 6 5-Ioth cts.
The trade expect to advance prices one hal
to one cent per h., which still continue Is cts
below London.
London, Nay soth. Beet I6 S. cd.
The beet crop is now estimated at one hal
million tons short Of last year. England i
substituting cane sugar. Cuba market is yer,
strong.
| On May 10th, the Manila basis advanced II
s.a4-May Goth, to 5.33-May 2Ist, to So
and May 2sth, to 5.6o--the present basis.
/ RlcE;--Market firm at SIC. "a s3tc
Stock light and very little demand.
FLOUR &c. G. Elk. Family $4.7o; f
Dorado. $3.50.
BRAN III Per ton {. o. b. $500.
| BARLEY = No. feed per ctl. {. o. b. Sta
ground barley, {. o. b. per ton $a7.oo.
Stair SLIGO, med. $I.4s, choic
$I.6o, {. o. b.
HAY:- Compressed wheat and oats $500
large bales $780, {. o. b.
LIME:--$i.4o per Dbl. {. o. b.
i CHARTERS Since our last, few transaction
have taken place, as shippers have shown bu
little disposition to make new engagements AM
under a pressure to close. Iron tonnage
1850. Cork, u. k. has been accepted. Englisl
advices continue unsatisfactory and At this tim
we can only call the market as very quie,
We anticipate an early harvest; with tn
yield still in doubt.
ExcHANGE:--Lo London 60 ds-st. $4.86,l
N. Y, sight is prem.
Il Yours faithfully,
Nh 4 q